Monday, January 10, 2011

2359 Media scores funding from SingTel Innov8

Local development house 2359 Media has secured approximately S$800,000 in Series A funding from SingTel Innov8.

The funding will help 2359 to continue working on MobDis, its mobile advertisement creation platform, and to expand its distribution into the US market, said a statement from Innov8.

"We are excited that an industry leader has recognised the growing importance of the mobile advertisement space and the value that MobDis brings in terms of creating richer mobile advertisements in a shorter time frame," said company co-founder Zhou Wenhan.

2359 Media, which was founded in 2009, is responsible for a number of iPhone apps including SG Malls and iHealth SG. It is also responsible for the iMerlion app.

This is Innov8's first investment since it was launched in September last year.

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