Mobile Ads Network, Vserv, raised $3 million USD in series A funding from the venture capital fund IDG Ventures. Established in Jan 2010, the company operates in the mobile advertising space by providing a platform for app developers to publish network ads. It currently has at least 50 advertisers in the network including Nike, Vodafone, Google, Yahoo and Samsung and has served over 6 billion ad-requests in India and rest of south asia.
Vserv has developed a unique App Ad-Wrapper solution for J2ME Apps. This platform allows app developers to monetize their application. At the same time, it gives advertisers an opportunity to target the mobile users. With the infusion of new capital, Vserv now plans to expand its Ad-Wrapper solution to Android Apps. With the launch of 3G services in India, data consumption over mobile is expected to rise significantly. Vserv is well positioned to capitalize on this surge. The company provides services in over 200 countries, however its focus is the emerging market.
The company is co-founded by Dippak Khurana and Ashay Padwal who have over 30 years of combined experience in Digital advertising and Mobile Internet space. Karan Mohla and Manik Arora of IDG Ventures will join Vserv’s Board of Directors as a part of the deal.