Digital ad startups AdFederal Media and Lyxel Digital merge
Digital ad and analytics startup AdFederal Media Pvt Ltd has merged its operations with a digital ad network called Lyxel Digital Pvt Ltd, as per a company statement. As part of the deal, AdFederal will now operate under the Lyxel brand and AdFederal's founder and CEO, Nishith Srivastava, will be on the board of Lyxel as chief technology officer (CTO).
As a combined entity, Lyxel will strengthen its digital solutions for its clients in India, the Middle East, the Asia Pacific and Africa. The combined entity (Lyxel and AdFederal) is also looking to raise Series A funding for its data management platform and expanding its sales team across South-east Asia.
Gurgaon-based Lyxel Digital started in January 2013 and secured seed funding from Dynamis Mentors. It is co-founded by Dev Batra (an alumnus of IIM Lucknow and NIT Surat), Mohit Vats (from JIMS, Delhi University) and Dynamis Mentors â€“ a mentoring firm run by Nitin Gupta (from IIM Ahmedabad, ex-CEO of MasterCard South Asia and ex-president of Rediff.com) and Anshul Singhal (MDI Gurgaon, and ex-Deloitte).
AdFederal started in 2010 with offices in Delhi, Mumbai and Bangalore, and has a team size of 30 people. It claims to have reached 60 million unique users in India and is currently delivering 500 million monthly impressions globally. AdFederal's key advertisers include Pepsi, HP, Samsung, Dominos, Lufthansa, Dell, Airtel, TATA DoCoMo and CISCO, among others.
"AdFederal has delivered digital advertising solutions to more than 100 clients and 10 major agencies in the last three years of its existence. We believe Lyxel is the perfect partner to develop and execute our ambitious plans of setting up a state-of-the-art, analytics-based data management platform. The vast campaign execution experience of more than 100 million spends and close relationship with more than 500 publishers gives us a clear edge over competition," said Srivastava.
(Edited by Sanghamitra Mandal)