Date:15/09/11,
Private Equity,
Cross Border Deal,
InMobi, a Bangalore based mobile ad network, receives private equity investment of $200 million from Softbank Corp, a Japanese firm providing services on mobile communications, broadband infrastructure and Internet and fixed-line telecommunications.
funding will happen in two tranches $100 million in September 2011, followed by another $100 million in April 2012. Softbank has invests the sum in InMobi Pte and this latest investment is one of the largest in the mobile Internet space till date.
InMobi has raised a total of $15.6 million in three rounds of funding from marquee venture capital firms Kleiner Perkins Caufield & Byers and Sherpalo Ventures. In 2007, it raised $500,000, followed by $7.1 million in 2008 and $8 million in series B funding last year. Now, InMobi reaches 340 million consumers through 47 billion monthly advertisement impressions and has offices in Singapore, Bangalore, Tokyo, London, San Francisco and Nairobi. InMobi has a presence in 165 countries and claims to have overtaken Google’s AdMob in the Asia-Pacific and Africa as the top ad network.
The funds will help InMobi scale up its recently launched mobile payments service SmartPay and the Sprout acquisition that was announced last month.
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