InMobi, which is an independent mobile advertising network, raised about $200 million from SoftBank, one of the leading mobile operators in Japan. The funding will take place in two equal tranches, one this month and the other one in April 2012. InMobi said it will use the new cash to “create value across the mobile ecosystem globally,” through advertising and mobile payments. As part of the deal, SoftBank will get a seat at InMobi’s board of directors.
InMobi is a Bangalore, India-based company which has thus far raised around $15 million in two rounds from Sherpalo Ventures and Kleiner Perkins Caufield & Byers. They have offices in London, San Francisco, Tokyo, Nairobi and Singapore; and the plan is to expand the presence in North America and Europe. The company’s largest market is Asia followed by North America and Europe.
In August, InMobi acquired U.S.-based Sprout for its HTML5-based rich media mobile ad technology…
[Via: Business-Standard]