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Mobile ad firm Smaato raises $31m from investors including SPH, EDB

Published on Aug 5, 2014 10:14 AM

SINGAPORE - Global mobile advertisement firm Smaato has raised US$25 million (S$31 million) from investors including Singapore Press Holdings and EDB Investments.

Headquartered in San Francisco, the firm's other investors include United States-based private equity firm Aeris Capital and other existing shareholders.

Co-founder Ragnar Kruse told The Straits Times that the funds will be used for further product development as well as possible acqusitions.

SPH did not disclose the amount of its investment. The media group has a $100 million fund announced last year for investments in media-related businesses.

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