Mobile messaging and advertising company Affle has raised more than Rs 50 crore in funding from Japanese mobile advertising firm, D2 Communications, which is a subsidiary of NTT DOCOMO in a JV with Dentsu. The two had earlier entered into a strategic agreement, which according to Affle was backed with a token investment from D2 Communications. according to a press statement from the company, Affle intends to utilise the funding for consolidation of product development efforts and in further strengthening Affle’s business in existing Asian markets and launching in newer markets.
At the time of announcing their initial partnership, the two companies had said that they intended to explore partnerships through which Affle could launch its products in Japan and also replicate D2 Communication’s mobile advertising model in other Asian markets like India, Indonesia and China amongst others. However, the exact amount of D2 Communication’s investment in the company was not disclosed at that time.
In 2010, Japan’s Itochu Corporation had picked up an undisclosed minority stake in Affle Holdings, a Singapore based holding company for Affle. In 2009, Microsoft had acquired almost 20% stake in Affle. Previous to that, it had raised $10 million in all. Other investors include BCCL (Times Of India Group) and Centurion Private Equity. Affle had also rasied a Series A round from undisclosed PE companies based in the Asia-Pacific region.
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