Mobile media startup, Affle, has secured over Rs 500 million in its second round of funding from D2 Communications Inc, a joint venture between Japanese telco NTT DoCoMo Inc. and ad agency Dentsu.
The two companies had entered into strategic alliance, backed with a 'token investment' from D2C in February. This is a follow-up investment.
The deal is an all-cash investment for a minority stake in Affle Holdings Pte, through acquisition of both newly issued and transferred existing shares in the startup. The funds are expected to be used for expansion in Asia, specifically in India.