Affle Group, a Singapore-based smart media company, today announced its US$3.3 million M2X fund, which is designed to boost the mobile advertising and entrepreneurship scene, in association with the Mobile Marketing Association (MMA).
M2X, or Mobile 2x, is targeted at emerging mobile markets like India, Indonesia, Vietnam, Thailand, the Philippines, Malaysia and Singapore, to encourage ad spend, create mobile assets and promote development of such innovation.
According to the press release, qualifying companies can submit their applications to M2X to gain access through two categories. Firstly, the fund can be received in a dollar-for-dollar co-investment made with agencies, advertisers and publishers for mobile asset creation and advertising campaigns that use mobile as a medium with Affle. Secondly, the investment could be made in startups or existing companies that are investing into technology innovation and IP creation in the mobile advertising scene.
Anuj Khanna Sohum, founder and chairman of Affle Group, shared that they see huge untapped markets in here in Asia. He added:
“Some significant bottlenecks we see the industry facing in this part of the world include lack of quality mobile assets, limited or no investments in mobile advertising by some brands and limited investments in technology innovation.”
While applications are open for existing MMA members, interested companies can only apply from October 1.