Mobile ad network, VServ has received USD 3 million (Rs. 13.38 crore) in funding from IDG Ventures India. As part of the investment, Manik Arora and Karan Mohla from IDG Ventures will join Vserv’s Board of Directors.
IDG Ventures India is a part of IDG Ventures, a global network of local venture funds backed by IDG. It invests in technology and technology-enabled companies. In May 2011, IDG Ventures India invested USD 5 million in Sourcebits, an enterprise mobile application company.
On using the funds, Dippak Khurana, Founder and CEO, Vserv said, “With the funds, we plan to expand our sales and engineering teams to drive sales growth in India and internationally, as well as further develop our monetisation solutions for the global app developer community,”
VServ was founded in January 2010 by Dippak Khurana and Akshay Padwal. It acts as an Ads Market Place for Developers, Publishers and Advertisers. It has delivered over 500 campaigns for various companies including multinational brands such as Google, Yahoo, Nokia, Nike , Samsung and Vodafone till date. Vserv said its ad platform is currently getting over 6 billion mobile ad requests every month and is serving mobile ads in over 200 countries.
In India, e-commerce space has attracted lots of funding in the recent past. That trend may be reflected in mobile marketing space, too. According to a recent report by eMarketer, the mobile internet penetration in India is estimated at 40 million users and is expected to grow to over 200 million users by 2016.
The digital media firm Komli Media recently acquired ZestADZ to focus on mobile marketing. Digital medium has become a mainline medium along with other media such as TV, Print and Radio. It has surpassed Magazine medium as a category. Mobile will be a key component of digital as the use of feature and smartphones grow.