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Adfonic raises $600k for self-service mobile advertising marketplace

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[UK] Adfonic, a London-based global operator of what it refers to as a self-service mobile advertising marketplace, has raised $600,000 (£360k) in its first round of financing. The funding comes from cleantech entrepreneur Gordon Shields, founder of Shields Environmental.

In a statement, Adfonic says Shields will not only provide capital but also ‘leadership and mentoring’. It’s unclear if butter cookies were also part of the deal.

Launched in July, Adfonic enables advertisers to deliver relevant messages to specific audiences on mobile devices. Adfonic markets a suite of advanced ad targeting and campaign management tools and facilitates advertising campaigns through both the mobile web and application platforms such as iPhone and Android.

Adfonic was founded by CEO Victor Malachard, CTO Wesley Biggs and CMO Paul Childs (all formerly employed by Motricity and Infospace before that).

The company’s first round of funding comes a week after Google announced it was buying competitor AdMob for $750 million.

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