BackPokkt.com raises close to $5 million
The company plans to use the fresh funds in enhancing technology besides strengthening the team to grow sales and revenue
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New Delhi: Maiden Marketing Pte Ltd, which owns and operates mobile video advertising start-up Pokkt.com, on Tuesday said it has raised close to $5 million from Singapore-based venture capital firm Segnel Venture Pte Ltd and angel investors Shinji Kimura and Sundar Chanrai.
Existing investors including Singapore-based venture capital firms JAFCO Asia, SingTel Innov8, Jungle Ventures and serial entrepreneur and angel investor K. Ganesh also participated in this round, the company said in a statement.
The company, which was funded by Bengaluru-based GSF Accelerator in the initial days, had till now raised close to $3 million in multiple rounds. It plans to use the fresh funds in enhancing technology besides strengthening the team to grow sales and revenue.
The company, which has a 20-member technology team in Bengaluru, plans to raise head count to 70-80 within a year.
Pokkt is incorporated in Singapore and has offices in Delhi, Mumbai, Bengaluru, Bangkok, Singapore and Jakarta with an overall team of 70 people. It also plans to open offices in Philippines and Malaysia, doubling its overall headcount in the next one year.
“The target is to expand technology and revenue teams," said Rohit Sharma, founder and chief executive officer.
The Mumbai-based start-up was founded in 2012 by Rohit Sharma, a former Reliance Group executive and a founding member of Indiatimes.com, with ex-colleague Vaibhav Odhekar. Manish Tewari, the former founder of fashion portal Koovs was roped in later by the company as chief technology officer.
The company helps gaming app publishers in India and South East Asia earn money through in-app rewarded video ads. Its software development kits are integrated with over 150 game developers across India, Indonesia, Thailand, Philippines and Vietnam. The company says that its automation platform uses market data science and predictive analytics to drive deeper engagement and optimized revenue from every use.
The company claims to reach over 40 million unique users on a monthly basis.
“In the mobile apps eco-system, gaming is by far the biggest category in terms of consumption and engagement. Our platform is positioned to tremendously benefit both app publishers and advertisers. With this fresh round of funding, we aim to strengthen our technology and product along with enhancing our team to grow sales and revenues in the region," Sharma said.
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