Singapore-headquartered mobile media and advertising startup Affle has raised over $10 million from D2 COMMUNICATIONS (D2C), Japan’s largest mobile advertising company and a subsidiary of the country’s largest mobile operator, NTT DoCoMo, in joint venture with DENTSU.
D2C joins Microsoft, Itochu, Bennett Coleman & Company and Centurion Private Equity as investors in Affle.
Affle and D2C had entered a strategic partnership earlier this year, and the companies state that this follow-up investment round strengthens their association further.
D2C is the largest mobile advertising agency in Japan, with rights to sell all inventories on NTT DoCoMo, Japan’s biggest mobile carrier with over 57 million subscribers.
The new capital will be used for consolidation of product development efforts and boosting Affle’s business in existing Asian markets, as well as launching in new markets.