India & Singapore based Affle Group has launched a $3.3 mn fund in association with the Mobile Marketing Association (MMA) to invest in startups in the mobile ad: tech space.
M2X, as the fund is called, will match dollar for dollar spends by qualified brands/ agencies/ publishers and invest into startups with innovative technologies, the Affle group announced.
Qualifying companies will be able to submit their applications to M2X to gain access to funds under two broad categories
- Dollar-for-dollar co-investment with advertisers, agencies and publishers for mobile asset creation and advertising campaigns that use mobile as a medium with Affle.
- Investment in start-ups or existing companies that are investing into technology innovation and IP creation in the field of mobile advertising.
Early applications from MMA members are open and all other interested companies can apply from October 1st, 2013.
Last month, AdIQuity, a mobile ads platform, launched a $1 mn fund to promote quality apps and reward developers based on their app performance.
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