Maverick commits $15m to India adtech start-up

The investment brings the total amount raised by Maverick to $18 million, including a $3 million commitment from IDG Ventures India in 2011.

Vserv was set up in 2010 by Dippak Khurana and Ashay Padwal and now has about 200 employees with offices in India, Southeast Asia, Europe, and the US. The firm's flagship offering is AudiencePro, a platform that pulls together data from multiple sources such as offline and online marketers, telecom operators, mobile app developers and other third-party sources. 

Vserv is one of a growing number of start-ups in the region that leverage big data analytics to provide corporate clients with insight into consumer behaviour via an online platform.

In India alone, the internet user base is expected to grow from 200 million today to 500 million users by 2018, primarily driven by mobile users. Vserv has data profiles of over 120 million mobile internet users nationwide and serves over 500 clients across numerous sectors from retail and e-commerce, to telecommunication and financial services.

"As an early investor in Vserv, IDG welcomes Maverick as a valued co-investor to further drive the differentiated big-data marketing business Dippak and Ashay have built," said Manik Arora, founder and managing director at IDG, in a statement. "The mobile internet ecosystem is at an inflection point in India today and we are delighted to further support the company as it goes into high gear."

IDG Ventures has over $4 billion under management globally. In India the firm has invested in several digital consumer companies such as Flipkart, Myntra, Yatra, FirstCry, Lenskart, and Ozone Media, which is also a big data-related play.

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• Topics
• South Asia
• Early-stage
• Technology
• India
• IDG Capital Partners
• Technology
• TMT
• Venture