In association with the Mobile Marketing Association (MMA), Affle Group has announced the launch of a US$3.3-million (INR20-crore) M2X fund at MMA Forum India 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 with particular focus on India, Indonesia, Vietnam, Thailand, Malaysia, the Philippines and Singapore.
Anuj Khanna Sohum, Founder & Chairman, Affle Group, said, Affle’s M2X fund is a very unique sector-focussed fund that will help grow the industry and help boost entrepreneurship in this domain. Through our dollar-for-dollar matching co-investment scheme, we plan to help qualified brands and publishers increase the value proposition and user traction of their mobile assets. Also through our entrepreneur acceleration programme, we are confident of providing a significant impetus to ad technology innovation in mobile first markets.
The launch of Affle’s M2X fund comes at an opportune time to mitigate any reticence on the part of advertisers and publishers to add mobile to their media mix, particularly where budgets have been cited as a reason. M2X will also enable faster go to market for companies in this region who are creating products and solutions for the mobile advertising space, said Rohit Dadwal, Managing Director, Mobile Marketing Association Asia-Pacific.
The launch of M2X is in line with Affle Group’s commitment and determination to lead the change and drive growth for the mobile ad industry. This mobile ad fund will aid and assist all major stakeholders as well as industry players to capitalize on the opportunities in this market.
Image Gallery
