Xapads Media, a boutique digital advertising network connecting advertisers and publishers to the desired audience on different channels, is in initial talks with investors to raise funding, a top executive told DEALSTREETASIA.
Xapads CEO Nitin Gupta said, “we are looking to raise about $12-15 million and are in initial talks with investors (for the same).”
Without disclosing the names of the investors, he said, there is a Japanese technology firm that wants to have its presence in India via Xapads Media.
The Noida-based company, founded by Gupta in 2009, offers transparency and control over ads to agencies, trading desks and mobile ad networks.
This is the first time that the company is raising external funding. It plans to use the money for expanding into domestic market as well as in Europe, the US and South East Asia. It plans to use some funds towards technology advancement.
Xapads Media plans to open an office in Bangalore to cater to South India. It is also planning to set up an office in Singapore by June-July this year.
Talking about expansion, Gupta said, “Indonesia is also a potential market for us so we are also looking to open in Jakarta.”
Xapads Media competes with the likes of InMobi, SVG Media, Fork Media and Affle among others.
Apart from India, the company has a customer base in USA, UK, and Australia among other countries. Xapads Media claims to have generated revenue of Rs 75 crore in the last financial year and aims to reach Rs 120 crore by next financial year.
2016 has been a year of transformation for digital ad space across every vertical. This year might prove to be the best year for Mobile. Google and Facebook will be game changers as they already have more than 75 per cent internet advertising growth. And, advertising will become more content-centric with a more journalistic approach, said Gupta.