Affle Group announced the launch of M2X fund in association with the Mobile Marketing Association (MMA). M2X or Mobile 2x, a $3.3 million (Rs 20 crore) fund, is set up to enable brands, publishers, agencies, app developers and entrepreneurs to create innovative technologies.
Affle Group announced the launch of M2X fund in association with the Mobile Marketing Association (MMA). M2X or Mobile 2x, a $3.3 million (Rs 20 crore) fund, is set up to enable brands, publishers, agencies, app developers and entrepreneurs to create innovative technologies.
The fund will help entrepreneurs in developing mobile assets, increase mobile ad spends and promote development of innovative technologies in emerging mobile markets.
The fund would have particular focus on India, Indonesia, Vietnam, Thailand, Malaysia, Philippines and Singapore. This was announced at the Mobile Marketing Association Forum India, which is underway in New Delhi today.
Anuj Khanna Sohum, Founder and Chairman, Affle Group, said, "Affle's M2X fund is a very unique sector-focused fund that will help grow the industry and help boost entrepreneurship."
M2X is spearheaded by Affle Group with support of MMA to fuel the growth of the mobile marketing ecosystem in emerging markets. Qualifying companies will be able to submit their applications to M2X. Early applications from MMA members are open and all other interested companies can apply from October 1st, 2013.
"M2X is a strategic industry-focused initiative that aims to encourage this community to place their bets on the power of mobile, while sharing in risk, and therefore increasing return-on-investment," said Rohit Dadwal, Managing Director, Mobile Marketing Association Asia Pacific.
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