Singapore-based mobile media company Affle secured more than $10m of investment on Tuesday from mobile advertising firm D2 Communications (D2C), a subsidiary of Japan-based mobile operator NTT Docomo. The funding follows the signing of a strategic agreement between the two firms in February.
Affle picked up financing from trading concern Itochu in February 2010, and signed a strategic partnership with computing firm Microsoft, in February 2009, which involved Microsoft investing an undicsclosed amount in Affle. Media publishing company Bennett Coleman & Company and Centurion Private Equity are also among Affle’s investors.
Takayuki Hoshuyama, chief executive officer of D2C said: "Our partnership with Affle brought us immediate results, truncating the learning graph for the markets we have wanted to enter. We have been very impressed with the significant growth Affle has had over the last few years and value Affle’s deep knowledge of mobile consumer behaviour, relationships with large telecom companies and advertisers.
Hoshuyama added: "We believe that developing Asian markets have huge untapped potential for mobile advertising and are confident that our experience from Japan would help Affle become the dominant mobile advertising player in these mobile-first markets."