Updated: Singapore based Jungle Ventures Invests in Zipdial to augment International Expansion
Singapore based venture capital firm Jungle Ventures has invested in Bangalore based Zipdial as part of a fund raising round it had announced earlier.
Jungle Ventures, which recently hired Alon Sobol, who headed mobile partnerships for Facebook in Asia will come as great help to Zipdial which is planning an international roll out starting with Asia.
The mobile based marketing solutions company had raised under $500,000 from 500 Startups last year and boasts of handling 410 million missed calls on the platform . Zipdial raised nearly $800K USD from Mumbai Angels in April 2011, has aggressive expansion plans and wants to tackle the South Asia markets first. Times Internet Limited and Blume Ventures are investors in Zipdial.
In a blogpost this morning, Zipdial said:
In the second week of April 2013, ZipDial has launched in Sri Lanka starting with a campaign for Unilever’s Laojee Tea brand. With over 550 million total mobile subscribers and 139 million internet subscribers, Southeast Asia has been dubbed as one of the world’s fastest evolving technology markets.
Jungle ventures focuses on investments in Singapore, India and South East Asia and has invested in companies like Doc Doc, eBus.TV, Mobikon and travelmob. It was co-founded by Anurag Srivastava, a former technology executive and the founder of Space Matrix and Amit Anand, who has founded startups such as ettaminA studios.
Discussion: Why Zipdial has ZERO competition?