Indian founded Vdopia raises $4 Million in first round

San Jose: Vdopia, a video ad network firm, has raised $4 million in the first round of funding from Nexus Venture Partners. The firm has also appointed Rohit Sharma, who was till recently with Mohr Davidow Ventures, as its new President and CEO. Vdopia's founders are Chhavi Upadhyay, Saurabh Bhatia and Srikanth Kakani.

Vdopia offers a platform for the iPhone that enables application developers and advertisers to simultaneously monetize their applications. Initially, the company started out by launching a video ad network in India, which is used by some major websites in the country. "There's some overlap between the online video and iPhone efforts in any company which has a video (ad) presence in a big way - they are coming onto iPhone applications as well," says Chhavi Upadhyay.

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Founded in 2007 and headquartered in San Jose, California, Vdopia claims to be the first company to enable pre-app/in-app video advertising on all iPhone applications. It also says that users in its network watch more than 50 percent of the pre-app video and the performance is 300 percent higher than traditional online video ads. Executives say that the new funds will support future growth of the company. Currently, Vdopia has four employees in the San Jose and 13 in Gurgaon, India.