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Flytxt raises $11 million in funding from multiple investors

Big data and analytics startup Flytxt has raised $11 million in funding led by Sunrise Capital GmbH and Big Data Investments B.V. with participation from Flytxt’s existing investors Cliffton Holding, IVC Venture Capital AG, RM Beteiligungsverwaltung GmbH and Schnell Consult GmbH. Flytxt will use the funding to consolidate its communication service provider market, expand its mobile consumer analytics solutions to other verticals and add to its team. Following the funding, Dr Brigitte Mohn of Sunrise Capital GmbH and Frits Baron van Dedem of Big Data Investments B.V. will join Flytxt’s board of directors. In February last year, Flytxt’s mobile ad marketplace mADmart inked its first deployment deal in India with Idea Cellular. It was previously deployed in Bangladesh with the telecom operator Robi Axiata. As part of the deal, Flytxt would be deploying its mobile advertising platform QREDA and connect its mobile ad marketplace mADmart which would allow brands and ad agencies to deliver relevant ads to over 130 million Idea Cellular subscribers. mADmart would also offer various touch points like pre-call announcements, SMS, IVR, USSD, WAP (push, banner, text), OTT and video among others on a self-serve basis to advertisers. The deal period or the terms of the deal were not disclosed. Flytxt provides big data solutions for communication service providers and brands for sales and revenues and margin optimisation. It claims to have over 50 customers across 32 countries and analysing data of more than 500 million mobile consumers. The company, which is headquartered in Netherlands, has offices…

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I'm a MediaNama alumna from 2015-16 (remember TinyOwl?) now back to cover e-services like food and grocery delivery, app based transport and policies, platforms and media in India.

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