Kleiner Perkins and Sherpalo continue InMobi investments
Kleiner Perkins Caufield & Byers and Sherpalo Ventures have infused $8 million in mobile ad network InMobi as part of a Series B fundraising round.
According to reports, Bangalore-based InMobi aims to use the funding to expand its geographic reach, including launching in Japan and continue its expansion process in the US, Europe, Asia Pacific and Africa. It will additionally hire more engineering staff.
The company raised $7.1 million from KPCB and Sherpalo Ventures in Series A funding round in 2008, reports note. Its most recent investment brings its total funding to more than $15 million. The investment follows news that InMobi's initial investor, Mumbai Angels, is also selling its shares to KPCB and Sherpalo. Mumbai Angels invested $500,000 in 2007.
More on Investments
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.