Philippines' PLDT Capital backs US start-up

Phunware has developed a multiscreen-as-a-service (Maas) platform that enables customers to engage with clients through mobile devices. Its functions cover indoor and outdoor location-based marketing and advertising, content management, notifications and analytics, and mapping and navigation.

The company has more than 400 million monthly unique users globally, including branded application portfolios and infrastructure for hundreds of enterprise customers. It works with the likes of CBC Interactive, NBC Sports, Dignity Health, Mandarin Oriental, and WWE.

As part of the deal, PLDT's subsidiary, ePLDT, will have exclusive distribution rights for Phunware's products in Southeast Asia. It will target PLDT's existing base of more than 70 million subscribers.

"Filipino and ASEAN consumers are among the most engaged users of mobile and digital services in the world," said Winston Damarillo, managing director of PLDT Capital and chief strategy officer at PLDT, in a statement. "We see mobile phones as an essential part of our daily lives and expect new experiences to pique our digital curiosity."

PLDT Capital was created to invest in start-ups in Silicon Valley and around the world. It is expected to invest up to $50 million in 2015 to help PLDT business units expand their portfolio of digital services.

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