US-based Nexage, a mobile advertising exchange, has raised a $10 million Series B round of funding from SingTel Innov8, Singapore Telecommunications’ (SingTel) corporate venture capital arm. Nexage’s existing investors Relay Ventures and GrandBanks Capital also participated in this round. The company will use the funding to expand its products and technology, global reach, and ecosystem of buyers and sellers to accelerate liquidity in the mobile advertising industry. (Source: Press Release).
SingTel Innov8 has had a busy week. On Monday, it made an investment offer to Singapore-based travel search startup Flocations and followed up with a similar offer to Thai startup ShopSpot, which is an application that makes buying and selling on mobile phones easy. SingTel itself has been fairly active in the past few months snapping up companies both in the US and at home. Scroll down for a recap on the group’s investment activities of late.