Mumbai: Ajay Adiseshann the Founder and Managing Director of India’s leading mobile payments company, PayMate has announced his angel investment into Vserv today. The new venture is a leading Mobile Ad Network in India focusing on In App advertising. Ajay has been investing into Vserv since Dec 2009 and continues funding the company’s capital requirements providing a strong backing for the founders of the company, Dippak Khurana and Ashay Padwal.
Vserv solution would now be available for developers with apps developed in J2ME and Android platforms. J2ME is a popular platform that is available on a majority of Nokia cellphones, globally and a huge range of feature phones. Android on the other hand is a fairly new platform that has witnessed an exponential growth of nearly 77% in India and South-East Asia in 2011.
Announcing the investment, Ajay Adiseshann said “Vserv has grown exponentially over the last 18 months in India and is now entering APAC markets. Dippak and Ashay, the founders of Vserv have had tremendous exposure in the digital space, prior to setting up Vserv, with an excellent execution track record. Vserv’s unique technology gives it a clear edge”
The company is uniquely positioned to exploit the massive In-app advertising potential with its proprietary technology. Having fine tuned the product and established itself in India, the company has already made some inroads into the APAC market.
App development is fast emerging as a lucrative field for Indian developers. Vserv provides developers with a frictionless platform to monetize their apps and advertisers an ecosystem to reach out to consumers. The introduction of 3G, growing acceptance of Smartphone’s and feature phones has enhanced the reach for publishers. Presently, Vserv boasts of an ecosystem with full-screen Ads in 3500+ Apps, predominantly J2ME and Android platform. The company founded in January 2010 has already worked with 50+ brands.
“With the global consumption of apps growing unabated, In-app advertising is now a viable revenue stream for app developers. India is one of the fastest growing places for app as well as Mobile Internet consumption. Therefore, mobile advertising is gradually growing in acceptance both among advertisers and the mobile Applications (Apps) Developers” added Mr. Adiseshann