Inmobi has raised $8m venture capital from existing VCs – KPCB and Sherpalo Ventures. Inmobi is a bangalore based mobile Ad network which serves nearly 17billion ad impression per month globally.
InMobi offers advertisers, developers, and publishers a dependable global mobile advertising platform other InMobi has invested in building a highly scalable, mobile customer discovery ad network leveraging its unique analytics engine AdROItTM to optimize ad serving in real time.
Interestingly there was a strong buzz in the market that Yahoo and Apple had shown interest in acquiring inmobi but it didnt materialize.
Inmobi was founded in 2007 by Naveen Tiwari, Amit Gupta and Abhay Singhal
Last year they had rebranded itself to inmobi from mKhoj, check out here.
Reliance Venture Asset Management India’s first and largest corporate venture capital firm and an arm of the Reliance ADA Group, today announced that it has successfully completed the first round of venture funding in Reverse Logistics Co, a technology enabled end-to-end reverse supply chain solutions company. Kleiner Perkins Caufield & Byers and Sherpalo are co-investors in this round of funding in Reverse Logistics Co. along with Reliance Venture Asset Management.
Reverse Logistics provides a one stop, technology enabled, comprehensive reverse logistics solutions for the Indian market. Reverse Logistics Co. understands that the power of reverse logistics is in data and so its solution’s backbone is its proprietary technology platform that provides end-to-end data visibility of the returned products from point of origin to its final disposition. The company’s single goal is to help companies make their reverse logistics process a competitive advantage allowing them to focus on their core competency of delighting customers through world class products.
Reverse logistics refers to the backward supply chain network where a product moves from the end consumer to the manufacturer for reuse, disposal or surplus sale purposes with the rationale to increase overall efficiencies, the release added.
Leading mobile Ad network mKhoj rebrands itself as InMobi, This rebranding exercise has been primarily done to attract and target the European, US, Australian and South African market. mKhoj has significant market share in Asian and African countries and with this new name they aim to become a leading global player in this space.
mKhoj which is a Hindi version of mobile search was relatively tough to pronounce and adapt in the western countries and with InMobi without any doubt sounds very cool and happening. Interestingly mKhoj has come a long way, initially it started as local deal search engine and later transformed itself into an Ad network.
mKhoj founded by Naveen Tewari, a Harvand graduate and few Andale veterans have raised capital totalling $8mn from Angel investors and from esteemed VC’s – KPCB & Sherpalo ventures.
At present they cater close to 2billion/month mobile Ad impression. InMobi has offices in US, Singapore and Engineering Center in India.
Good luck to this Indian start up which is head on with global Ad networks.
- Hitesh, vcBytes.com