IDG Ventures India has made a $3 million Series A investment in Mumbai-based mobile ad network Vserv. The company focuses on emerging markets and has developed full-screen in-app advertising for J2ME applications out of India. It also works with WAP publishers and is currently extending its advertising solutions into Android applications, said a press release.
The company was founded in January 2010 by Dippak Khurana and Ashay Padwal, who earlier held senior positions at Mauj Mobile. Vserv’s ad platform currently gets over six billion ad requests every month and is serving ads in over 200 countries, said the release. It claims to have delivered mobile advertising solutions to brands such as Google, Yahoo, Nokia, Samsung and Vodafone.
IDG Ventures’ Manik Arora and Karan Mohla will join the company’s board following the investment.
What others are saying about the deal
- IDG Ventures pumps $3 million into Indian mobile ad network Vserve (Techcrunch)
- Vserve gets $3 million from IDG Ventures (Mint)