Australia-based mobile advertising company Unlockd has closed a $23m series B round led by telecoms group Axiata, according to the Financial Review.
Alium Capital also backed the round, which further included assorted angel investors.
Founded in 2015, Unlockd has developed a platform that enables mobile phone network operators to put advertising on phones that appear when a user unlocks their device. In return, users receive a reduced phone bill.
The company has signed agreements with US, UK and Caribbean providers for an expansion and will use the series B capital to drive an aggressive expansion across Asia, with a particular focus on India.
Unlockd will partner with Axiata to drive the regional expansion, tapping into the corporate’s existing presence in Malaysia, Indonesia, Sri Lanka, Bangladesh, Cambodia, Nepal, India and Singapore with a total of some 320 million consumers.
The money will also go towards recruitment, research and development and additional partnerships.
Unlockd has now raised more than $37m. The company previously obtained A$15m ($12m) in series A funding from assorted angel investors led by Lachlan Murdoch.