Mumbai based AdSparx, a state-of-the-art Video Ad Platform for streaming Internet video that enables dynamic, targeted Video Ad servings to all Internet devices has secured angel round of funding led by Indian Angel Network , followed by Mumbai Angels and GrowX Ventures. Manish Singhal, CEO, LetsVenture and Sharad Sharma of Indian Angel Network acted as lead investors for the deal.
The funding i.e. Rs 3.5 Cr raised will be used by company for international expansion. “We also plan to cover the domestic market and add more media houses to our customer list ,” said Kunal Lagwankar, founder of AdSparx, who is a former Patni Computers employee.
AdSparx caters to Internet Video Publishers & Video Content Distributors. It addresses the needs of Internet Video Publishers and empowers the publisher to monetize their inventory by aggregating multiple advertisers. AdSparx allows the publisher to focus on his primary goal – to provide end-users, quality content and high viewing experience on the device of their choice.
AdSparx clients include Nex GTV, Vodafone, Airtel and Sony Liv . The startup has also done mid-roll ads for online streaming of IPL , French Open etc.
“The market for stitching together advertisements to online videos holds great potential . The startup is early in the game , making it an attractive proposition for us,” said Sharad Sharma.