Affle had earlier raised $10mn from Singapore based PE firms and some individual investors in India; and will use the fund to expand in Europe, US and Australia.
Microsoft obviously gets a piece of Indian VAS space and will integrate Affle in Windows Live services and MSN content on cell phone in the near future.
Affle delivers close to 120Mn monthly targeted impressions in partnership with Indian operators and company’s primary business is related to creating significant mobile advertising opportunities through the development, deployment and commercialization of the SMS2.0 service across various Asian markets.
Affle earlier partnered with Airtel and recently announced partnership with Idea and Spice Telecom. The company is now in talks with Vodafone and Reliance communications to make the service available to a larger user base.
Also, Affle has partnered with NDTV Convergence for mobile advertising on NDTV’s mobile channel – http://mobile.ndtv.com.