Mobifusion, Inc., a global developer, publisher and distributor of mobile applications and technologies, has announced that it closed $3.1 million in Series A financing in 2006 from Emergic Ventures, Ingram Digital Group, Global Asia Partners and a major telecom company based in India. The funds will be used by the company to support sales and marketing initiatives, R&D operations to enhance product development while building on their innovative patented technologies and award-winning mobile content products.
As part of the investment, Mobifusion appointed two members to its board of directors:Ajoy Khanderia of Global Asia Partners and Mike Lovett of Ingram Digital Group.
“This round of financing marks a significant milestone for Mobifusion at a time when the mobile content market is experiencing tremendous growth,” said Pavan Mandhani, president and CEO of Mobifusion. “We believe there’s a strong demand for premium mobile content that is easy-to-access, reliable and affordable and intend to use these funds to further grow our business.”
“Mobifusion is clearly establishing itself as a leading mobile content provider,” said Lovett of Ingram Digital Group. “In a very short time, Mobifusion has not only built great momentum with a strong founding team and vast network of strategic partners, but has also demonstrated its leadership and innovation potential through the development of their patent-pending m-Publishing Platform. We look forward to participating in the company’s continued progress.”
According to Ajoy Khanderia of Global Asia Partners, Mobifusion is attaining a long-term leadership position in the mobile content market. “It’s an ideal fit with our growing venture portfolio and we’re excited to be a part of Mobifusion’s promising future,” added Khanderia.
About Mobifusion
A pioneer in the emerging world of mobile media, Mobifusion provides cellular operators and carriers, publishers and content providers with a rich new channel for customer acquisition and loyalty, and service upsells. Mobifusion is led by an executive team with backgrounds in publishing, mobile marketing and software development. Mobifusion products are sold through wireless carriers and online retailers.
Source : American Venture Mag