SingTel Innov8 participates in USD11.2M Series B round of ad exchange startup Brandscreen
October 3, 2012 by Terence LEE
SingTel Innov8, the wholly-owned subsidiary of SingTel, has participated in a AUD 11M (USD 11.2M) Series B round by Australia’s Brandscreen, a startup that provides the technology for online ad exchange platforms.
The Sydney-based company, founded in 2006, processes 200,000 bids a second on its real-time media trading products. The startup expects that automated trading systems and advertising exchanges will dramatically increase ad spend in the digital space to around 40%.
Brandscreen is the only Asia Pacific partner of the Facebook Exchange, the social network’s just-launched ad exchange that enables advertisers and agencies to bid for ad space on Facebook.
The funds will be used for expansion in the following Asia-Pacific markets: Australia, China, Japan, Korea, India and Southeast Asia. The other participants in this round are Mcquarie Capital and Southern Cross Venture Partners.
Innov8‘s most recent investments were in June, where it jointly invested USD 5M in General Mobile, a Cayman-based mobile services startup. It also led a USD 10M investment in an ad exchange network called Nexage.
Company: SingTel Innov8
SingTel Innov8, the venture capital subsidiary of SingTel, manages a fund size of USD158M. It invests in technologies in the fields of network capabilities, next generation devices, digital content services, and customer service enhancers.
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Terence LEE - Editor
Terence writes mainly about technology trends and startups in Asia. He believes in crafting smart content: Not just a regurgitation of text, but well thought-out pieces that serve the reader using a combination of data, design, narratives, analysis, and visual impact. His articles have been published on Venturebeat, Yahoo!, Straits Times, Today, and The Online Citizen. He also co-founded NewNation.sg, a satirical news site covering Singapore affairs. Engage him on LinkedIn and Twitter.
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