EDBI leads $7m financing round into mobile ad firm
Singapore-based EDB Investments (EDBI) has led a $7 million round of institutional funding for mobile advertising aggregation firm Smaato, with existing shareholders including PE firm Aeris Capital also participating in the financing.
According to California-headquartered Smaato, the capital will be used to fuel the company's international expansion - namely increasing its presence across the Asia region - and grow its staff. The company currently claims to work with more than 11,000 publishers to monetize their mobile content, and manages 20 billion ad requests monthly.
EDBI, while Singapore-focused, is a global investor that targets firms in the biomedical sciences, cleantech and digital media industries, as well as firms in key industries in the city state. The firm has invested in more than 240 companies, including computing provider Cloudpic Singapore, which it provided funding for earlier this month.
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