VSERV raises $3 Million in Series A Funding
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VSERV raises $3 Million in Series A Funding
Mumbai: VSERV, a Mumbai-based Mobile In-App Advertising company, has raised $3 million in series A round of funding from IDG Ventures India. VSERV is a mobile advertising network focused on emerging markets having delivered In-App and WAP advertising in over 200 countries including leading Fortune 500 brands and digital media companies. As part of the investment, Manik Arora and Karan Mohla from IDG Ventures will be joining VSERV's Board of Directors. Co-Founded in 2010 by Dippak Khurana and Ashay Padwal, the company had delivered over 500 campaigns till date. Both the co-founders of the company worked together at Mauj Mobile where Khurana led content and international operations and Padwal led technology, product and operations.It is the leader for In-App advertising for J2ME Apps in India. It also works with WAP publishers and is currently extending its advertising solutions into Android Apps. With the rollout of 3G in India, consumption of mobile data-services and mobile apps is expected to increase significantly. globally, the worldwide mobile advertising revenue is expected to exceed $3 billion in 2011 with Asia-Pacific being half the market. IDG Ventures India is investing in technology-related product and services companies. The fund is part of IDG Ventures, a global network of technology venture funds with over $4.5 billion under corpus, over 220 investee companies and 10 offices across Asia and North America. The leading technology companies in which they have invested are Baidu, Ctrip, Sohu, Tencent and VinaGame in Asia and Netscape, BabyCenter, F5 Networks, Service Metrics and VA Linux in North America. IDG Ventures India have clientele such as 3DSoC, Agile Financial, Apalya, Aujas Network, ConnectM, iCreate, iProf, iViz, Kreeda Games, Manthan Systems, Myntra and many more. The current investment by them is the first VC investment in mobile advertising in India since 2008. Manik Arora, Founder and MD, IDG Ventures India, said, "While the mobile advertising industry is still relatively young, it is experiencing rapid growth driven by Mobile Internet growth and Mobile Apps growth. The global In-App advertising market will grow from $900 million this year to roughly $5 billion in 2015. We found VSERV taking a leadership role from India and starting to expand to emerging markets abroad." They have developed a unique App Ad-Wrapper solution for J2ME Apps and is now extending this solution to Android Apps. The App Ad-Wrapper enables mobile app developers to monetize their apps with minimal effort and provides advertisers a unique medium to target the rapidly growing mobile audience. Dippak Khurana, Co-Founder and CEO, VSERV, said, "With the funds we plan to expand our sales and engineering teams to drive sales and engineering teams to drive sales growth in India and Internationally as well as further develop our monetization solutions for the global App developer community. With this funding, we even plan to extend our offerings to Android Apps, which are increasingly becoming important in emerging markets." The clientele of the company includes over 50 multinational brands, such as Google, Yahoo!, Nokia,, Nike, Samsung and Vodafone.

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