Vdopia Raises $4 Million From Nexus Venture Partners, Appoints New CEO
Its raining on Indian deal street as VC investments have started to see uptick. In a latest move Vdopia has secured $4 million in series-A funding from Nexus Venture Partners. Last year there were rumors about nexus chipping in the money but it was never confirmed.
The funding is amid different monetization tie-ups garnered by Vdopia in recent past. It has tied-up with many portal from Web 18 fold & NDTV Profit for video montization. The company has been banking on online video advertising coupled with mobile videos. It also launched iVdopia to exploit the thriving iPhone apps segment for video advertising opportunities.
The funding comes at a time when many Online streaming sites are finding it tough to monetize video contents but specialized video ad networks like Vdopia are enjoying success. Specialized Ad Networks are procuring access to premium inventory than just user generated content which is what tilting ad revenues in their favor.
The funding is also followed by a change in management as company has appointed Rohit Sharma as its new President and CEO in place of founding members, a sign of growing opportunities. Rohit Sharma has previously worked with ONI Systems and has also served as partner for VC firm Davidow Ventures. Earlier, it appointed Pradeep Guha Ex-CEO, Zee TV on his board of advisors.
Suvir Sujan, co-founder of Nexus Venture Partners said, “We invested in Vdopia with the firm belief that digital content and new media markets show great potential for radical growth.Nexus Venture Partners is looking for the best investment opportunities in USA and India and Vdopia is addressing cross-border markets with a unique set of products.”
Vdopia seems to be creating a niche in online advertising by focusing more towards providing video ad network services and technology for portals to leverage their video inventory. It is also facing competition from similar networks like Jivox and recent entrant Komli.
Online video advertising market in India is lagging far behind other Online avenues but has potential to scale up as internet speeds improve in the country and people become more comfortable in watching videos online. Mobile videos won’t fire up unless 3G becomes affordable and that’s where Vdopia can score points by putting in place a preceding system to harness future growth opportunities.
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