Following a seed round of funding from Nexus Venture Partners (formerly Nexus India Capital) last year, video advertising network VDOPIA has raised a Series A round of $4 million from the same fund. According to a filing with the American Securities & Exchange Commission, which was first reported by VentureBeat last week, the total amount was $$4,714,302. Speaking to MediaNama, Saurabh Bhatia, co-Founder and CBO at VDOPIA, clarified that the current Series A round is $4 million, and the rest is from a convertible seed note, which was a part of the seed round of funding. VDOPIA has appointed Rohit Sharma, a Silicon Valley entrepreneur, and former EVP and CTO of ONI Systems as President & CEO. Why Does VDOPIA Need The Money? Bhatia says that VDOPIA is raising the money primarily to fuel its expansion into the US Market, for its iPhone video advertising network iVDOPIA: "There's a need to expand to sales & marketing (for iVDOPIA) in the US, R&D in India, expand sales and oeprations in India, and exploring new markets. We're eying the Latin American market." He declined to comment on how much of the funding is being allocated to a US expansion, saying that that is going to be looked at quarter on quarter, depending on market requirements. Indian Market Trends VDOPIA Growth: According to Bhatia, among their publisher network is the entire NDTV group, TEN Sports, NEO Sports with Cricket Nirvana for the India-Australia series, Zee News and Web18. We're the only ones who have…
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