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June 03, 2014

Deal Alert: Video ad tech firm AdSparx raises Rs. 3.5 cr led by IAN

Mumbai-based in-stream video ads technologies provider AdSparx has raised an angel round of Rs. 3.5 crore led by Indian Angel Network, followed by Mumbai Angels and GrowX Ventures. Started by former Patni Computers employee Kunal Lagwankar in 2012, AdSparx provides mid-roll technology for buffer-free ad streaming within online video content and has clients such as NexGTV, Vodafone, Airtel and Sony Liv. The company plans to use the money to expand internationally in Singapore and the US, besides covering the domestic market and adding more media houses to its customer list. 

LetsVenture CEO Manish Singhal and Indian Angel Network's Sharad Sharma acted as lead investors for the deal. 

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