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June 04, 2013

Deal Alert: Digital ad network Adfederal Media merges with Lyxel Digital; combo to raise funding

Delhi-based digital ad network AdFederal Media has merged its operations with Gurgaon-based Dynamis Partners backed proprietary digital advertising start-up Lyxel Digital. Founded in 2010, AdFederal focuses on behavioural analytics based digital advertising. Nishith Srivastava, Founder and CEO, AdFederal will continue to work with Lyxel as Chief Technology Officer, to drive the Data management platform and strengthening in-house ad serving capabilities and operations. 

The combined entity will focus on developing proprietary algorithms to provide targeted digital solutions for its clients in India, Middle East, Asia Pacific and Africa. The combined entity is looking at raising Series A funding for its data management platform and expanding its sales team across South East Asia. 

Source: Money Control

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