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India’s BookAdSpace gets angel investment

  • Andrew Woodman
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BookAdSpace, an online platform for buying and selling physical advertising space, has received angel funding from Aakrit Vaish, the director of Flurry India, and Mitesh Sampat, the vice-president of product strategy at Quova.

The amount of capital raised was not disclosed but BookAdSpace, which provides online software so media owners and buyers can do business more efficiently, says it will use the money to further develop its product and hire employees.

The company is backed by startup incubator The Morpheus and has a team of five along with the sales and management team. The company has operations in Ahmedabad and Mumbai.

Vaish's Flurry India is a mobile analytics platform and Sampat's Quova is an internet analysis firm.

"Coming from the digital advertising world, we think there is a huge opportunity if the offline space can be organized in a similar manner," said Vaish in a statement on YourStory.In. "There is a clear need for a product like this in the market."

Also in this space, Gurgoan-based video advertising network Vdopia secured $3.4 million in Series B funding in a private offering from a single unnamed investor in December. Meanwhile, Sequoia Capital, along with Canaan Partners, invested INR350m in AdNear, a location-based mobile advertising platform, in a Series A round of funding.

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