Softbank China & India’s Bodhi Fund has provided Series B funding to Digital Marketing Solutions, a Southeast Asian advertising and syndication network based in Singapore. The amount invested was not disclosed.
Digital Marketing Solutions is the holding company for a group of integrated online and mobile advertising businesses in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.
The group comprises of three companies: Admax Network, which is a digital advertising network with more than 1,200 websites; Admax Plus, which provides agencies and advertisers with PR syndication, video syndication and social media marketing services; and Impaq Interactive, which is the sales partner for Microsoft Digital Advertising Solutions in Thailand and the Philippines and a developer of services and content for MSN in Southeast Asia.
The investment will be used to accelerate the development of technology used in the company’s online media platforms and allow it to enhance its online and mobile advertising services.
The company has a “portfolio of diverse, comprehensive and innovative digital media services”, Kabir Misra, president of Softbank China & India, said in a statement. He added that the firm believes the company could capitalise on a large and growing market with the funding.
This round of funding follows an earlier investment in the company made by IDG Ventures Vietnam.
Established in 2006, Bodhi Investments is managed by Softbank India and China, a wholly-owned subsidiary of Softbank Corp.
Bodhi focuses on investments at the early stage and on select pre-IPO opportunities in China, India and Southeast Asia. It makes investments in sectors such as telecommunications, media and technology, and consumer-focused sectors such as healthcare and finance.
Some other companies in its portfolio include Infocomm Asia, a Singaporean online gaming operator; Kreeda Games India, an Indian online gaming operator; Punch Entertainment, a Vietnamese mobile games studio; Radiance Digital Entertainment, a Shanghai-based online game developer and computer graphic outsourcing company; and Sino Credit Corporation; a Chinese credit card and mortgage company.