mGinger Attracts $2 Million Funding
EFY News Network
(Wednesday, November 28, 2007 4:35:40 PM)


Draper Fisher Jurvetson and NEA-IndoUS Ventures are the investors.

Wednesday, November 28, 2007: mGinger, a Bengaluru based start-up in mobile advertising, has recieved $2 million funding from Draper Fisher Jurvetson and NEA-IndoUS Ventures. The company will use the fund for its business growth, build up their technology stack and ramp up their marketing and sales force.
mGinger enables advertisements including offers, vouchers, news and more, sent in the form of SMS on consumers' mobile phones. These advertisements are specific to consumer interests and demographics mentioned during sign-up (www.mginger.com) and received only in the timings that consumers specify. An additional value-add for consumers, is the earning potential of receiving these advertisements, which is redeemed through a gift cheque from mGinger.

"We at mGinger believe that there is much more to mobile phones than receiving advertisements through text messages," said Chaitanya Nallan, CEO, Gingersoft Media Private Limited. "With this funding, we look forward to bringing a lot more innovative services to mobile users in the near future and opening up this potentially huge market in India. We are delighted to have investors like DFJ and NEA partner with us in this venture."

"The huge market potential, the effectiveness of this new medium of advertising and the uniqueness of mGinger’s offering makes this a very attractive investment for us. The mGinger platform solves critical problems like content composition, cost of campaign and return on investment measurability for advertisers," said Sateesh Andra, venture partner, Draper Fisher Jurvetson.