Malaysia: Axiata-backed digital ad startup snags $20m from Sumitomo

The Axiata headquarters building is seen in Kuala Lumpur May 28, 2014. REUTERS/Samsul Said/Files

Axiata Digital’s digital advertising business ada – which stands for analytics, data, advertising – has secured $20-million investment from Japan’s Sumitomo Corporation to strengthen its operations, it said in an announcement today.

ada said, the funding will solidify its trajectory to becoming a “leading integrated digital advertising firm” in Southeast Asia by 2021.

“ada has been built around the future of advertising, through integrating analytics into media and creatives. Sumitomo as a partner further strengthens our focus on digital advertising,” said Axiata Digital CEO, Mohd Khairil Abdullah.

The investment will also enable ada to expand its business to serve Japanese advertisers or partner with Japanese agencies, said Axiata Digital.

Sumitomo Corp’s corporate officer Masahiro Miyashita commented: “We also seek opportunities for further collaboration in the areas such as fintech and IoT with Axiata Digital as a strategic partner.”

ada has recently teamed up with Malaysia-headquartered online streaming platform iflix to drive digital advertising across the video streaming platform. It has also signed an MoU with PUC Bhd, which acquired controlling stake in 11Street Malaysia, to collaborate with PUC on traditional media buying and planning services.

Axiata Digital is a wholly-owned subsidiary of telco company Axiata Group Bhd. Adtech is one of the company’s key focus and Axiata Digital is looking to make bigger investments in the sector.

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