Affle Group, a leading smart media company has announced the launch of M2X, a $3.3 Mn fund, in association with the Mobile Marketing Association to fuel growth of a mobile marketing ecosystem in emerging market, ET states.
M2X is set up to enable brands, publishers, agencies, app developers and entrepreneurs to create mobile assets, increase mobile ad spends and promote development of innovative technologies in emerging mobile markets.
The fund targets emerging mobile markets with a specific focus on India, Indonesia, Vietnam, Thailand, Malaysia, Philippines and Singapore.
M2X will provide access to the fund under two categories -the first is dollar-for-dollar co-investment with advertisers, agencies and publishers for mobile asset creation and advertising campaigns that use mobile as a medium with Affle.
The second is investment in start-ups or existing companies that are investing into technology innovation and IP creation in the field of mobile advertising.
Affle is a Singapore headquartered ‘Smart Media’ company with expertise in all key areas of the digital media eco-system. Affle Group’s businesses include Ripple (Cross screen Rich Media & Video ad network), Media Lab (Mobile development and analytics platform) and ad2c (Mobile campaign management/ DSP platform and agency services).
India's large mobile market has given many start-ups an opportunity to make it big in the mobile apps sphere.
Kalaari Capital acquired minority stake in Robosoft Technologies, a eading provider of product development services for the new generation smart-phone platforms like iOS, Android, Blackberry OS, Symbian and Windows Phone 7 for R22 Cr.
Recently in July, Gray Routes Innovation Distribution raised $100,000 from a group of angel investors based in Bangalore and Silicon valley.