Zeotap GmbH, a startup that leverages its global technology centre in Bangalore to help telecom operators activate and monetise their data assets, has raised $6.4 million in a Series A funding from Capnamic Ventures, Iris Capital and other investors.
The company will use the money to expand internationally, grow its Bangalore base and hire more employees, as per a press statement.
"We are humbled by the quality of investors we have attracted just a year into Zeotap's development. It is a vote of confidence in the value proposition and potential as well as our achievements to date," said Daniel Heer, co-founder and CEO of Zeotap.
Zeotap was launched in November 2014 by Heer, Stephan Schwebe and Projjol Banerjea to connect mobile network operators (MNO) with the app and advertising ecosystem. The company had raised seed funding from HitFox Group and other angel investors.
The firm ensures compliance with privacy legislation and zero data leakage for operators. It works with publishers and supply-side platforms to optimise yield as well as advertisers and demand-side players to make ad buying more efficient.
Zeotap is betting big on its global technology centre in Bangalore. It is currently looking to expand its engineering team in Bangalore which will be led by Ameya Agnihotri, VP of engineering. The company is hiring aggressively for engineering and product roles in Bangalore.
"Moreover, Bangalore has a wealth of world-class talent and is best-positioned to feed our voracious needs," said Projjol Banerjea, Zeotap's co-founder and chief product officer, who will move to Bangalore to oversee the company's growing presence in India.
Zeotap will also add offices in Mumbai and New Delhi. The company's client portfolio includes telecommunications companies in Europe and Asia.
"We are excited to invest in Zeotap and support its expansion. It is well-poised to become a preeminent data platform in the mobile advertising ecosystem," said Christian Siegele, founder and managing partner of Capnamic Ventures.
Capnamic Ventures is a venture capital fund which focuses on investment in fast-growing, early stage ventures. It has put money in companies like Tradoria (acquired by Rakuten), LeanIX, Adjust and Mediakraft Networks before.