InMobi Raises $8mn from KPCB and Sherpalo Ventures
InMobi, Bangalore based mobile ad network has raised $8mn from existing VCs, Kleiner Perkins Caufield & Byers and Sherpalo Ventures and brings their total raised capital to $15million.
InMobi started as a local deals search engine, but morphed into an ad network and raised $7.1mn from KPCB and Sherpalo and later ditched its Indian avatar, i.e. mKhoj to gain International acceptance.
InMobi has expanded well enough in South east Asian market and recently entered the US market.
In order to attract developers, the company has launched $2mn Developer fund, that enables developers to keep the 100% revenue of money developers will make from using the ad network in their apps.