Affle Group, a Smart Media company with headquarters in India and Singapore has recently launched a USD 3.3 Mn fund, Mobile 2X (M2X), in collaboration with Mobile Marketing Association. The fund is set up to create mobile assets, increase mobile ad spends and promote development of innovative technologies in emerging mobile markets such as India, Indonesia, Vietnam, Thailand, Malaysia, Philippines and Singapore.
With M2X, the Affle group offers a dollar-for- dollar matching co-investment scheme for qualified brands and publishers investing around 50% of the project cost. Also, an entrepreneur acceleration program has been started, wherein the group will invest in exchange of equity ownership in the company.
The dollar-for-dollar co-investment will help brands to increase the value proposition and user traction of their mobile assets, while the accelerator program will create an investment and mentoring platform for start-ups or existing companies that are investing into technology innovation in the field of mobile advertising.
As per Anuj Khanna Sohum, Founder and Chairman, Affle Group, in developing Asian markets, mobile industry is facing significant bottlenecks such as lack of quality mobile assets, limited or no investments in mobile advertising by some brands and limited investments in technology innovation.
“M2X will enable faster go-to-market for companies in mobile advertising space and will encourage this community to place their bets on the power of mobile, while sharing in risk and therefore increasing return-on-investment,” said Rohit Dadwal, Managing Director, Mobile Marketing Association Asia Pacific.
The interested companies and startups can apply from Oct. 1st, 2013 at “firstname.lastname@example.org”. As part of the MMA’s involvement in M2X, the existing members’ applications will be given priority. The non-members that meet the criteria for funding will also directly become eligible for co-funding towards regional MMA membership. Through the MMA, qualifying companies will benefit from access to international guidelines on global standards, measurement and best practices in mobile marketing and advertising.
A few months back, Mobext, a global mobile arm of Havas Media Group has also raised the funding amount in its ATOM Fund to $500,000, in order to to boost mobile marketing in 9 countries in Asian region including India. Also, there is another, One97 Mobility Fund, a $100 Mn Fund, investing and mentoring entrepreneurs across mobile-eco-system, having companies like Plivo, Dexetra, Chotu.in, Zepo Technologies and many more in its portfolio.
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