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Our Bureau

Bangalore, Nov. 28

mGinger, a Bangalore-based start-up in mobile advertising, has announced that it has received $2 million in funding from Draper Fisher Jurvetson and NEA-IndoUS Ventures.

“The company will use the amount to significantly grow its business, build up technology stack and ramp up the marketing and sales force,” it said in a statement.

mGinger provides advertisers with permission-based targeted marketing.

It enables advertisements including offers, vouchers, news and more, sent in the form of SMS on consumers’ mobile phones.

These advertisements are specific and demographics mentioned during sign-up and received only in the timings that consumers specify. An additional value-add for consumers is the earning potential of receiving these advertisements, which is redeemed through a gift cheque from mGinger.

“We at mGinger believe that there is much more to mobile phones than receiving advertisements through text messages,” said Mr Chaitanya Nallan, CEO, Gingersoft Media Pvt Ltd.

“With this funding, we look forward to bringing a lot more innovative services to mobile users in the near future and opening up this potentially huge market in India.”

The mGinger platform solves critical problems such as content composition, cost of campaign and return on investment measurability for advertisers, said Mr Sateesh Andra, Venture Partner, Draper Fisher Jurvetson.

“The current way of marketing on mobile phones needs to change from an intrusive model to a permission-based model where customers dictate the type of advertisements received.

“mGinger’s offering is a creative model offering great value to the consumer and a cost effective solution for the advertiser,” said Ms Vani Kola, Managing Director, NEA-IndoUS Ventures.

More Stories on : Venture Capital | M-Commerce | Advertising

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