Location-based mobile advertising platform AdNear raised Rs 350
million ($6.3 million) from Sequoia Capital and Canaan Partners
in the first round of early-stage venture funding. The company leverages
real-time geo-location, combined with consumer behaviour, to target
company intends to utilise the funds raised towards expanding its
operations in the Asia Pacific region. AdNear is also looking at
expanding its team. Currently, the company services clients across
the Asia Pacific region including Australia apart from India and
Singapore. AdNear has offices in Singapore and Bangalore.
was set up in 2009 by Anil Mathews and has offices in Singapore
and Bengaluru. It was earlier called Imere Technologies. AdNear's
ad platform is built on proprietary hybrid geo-location platform,
which helps provide location awareness on mobile phones without
GPS or operator assistance. Its clients include brands like Titan,
Ford, Toyota, Pizza Hut, Samsung, Airtel and Nokia.
leveraging real-time geo-location and combining it with consumer
behaviour, the platform allows brands to target relevant users within
a geo-fence. This allows them to reach out to a larger audience
making the communication more geographically relevant for the advertiser
and the consumer. The ad platform is available on smart phones and
current technology investments in India include Naaptol, BharatMatrimony
and UnitedLex and Sequoia has invested in companies like Café
Coffee Day, Idea Cellular, Just Dial, Manappuram Finance, Paras,
Quick Heal, Micromax, Mu Sigma and Vasan Health Care.