Novosol bolsters raised additional $10 M Series B funding from SG, UK family offices
Through Singapore and UK Family Offices, Novosol, a company that specializes in mobile advertising technologies, has successfully raised over $10 million in Series B funding.
According to a statement from Novosol, this sizeable investment will help the company’s expansion plans in important markets throughout the Middle East and South Asia, including Vietnam, Thailand, and other places.
The statement states that the primary goal of the capital infusion will be to advance Novosol’s flagship product, moLotus, a cutting-edge platform for mobile video customer interaction that adds innovation and transformation while optimizing marketing return on investment (ROI) for brands and advertisers.
Through a permission-based system, the innovative technology allows for the direct, spam-free delivery of hyper-personalized rich media campaigns to large telecom subscriber bases.
Any mobile phone can use moLotus thanks to its innovative, proprietary technology.
Large-scale data analytics capabilities, RCS enabled, no data plan needed, AI-driven avatars and ad creatives for better engagement.
Moreover, moLotus offers advertisers additional options for performance-based pricing. In the banking, insurance, e-commerce, consumer electronics, automotive, retail, and government sectors, moLotus is the go-to option for top brands like Amazon, Suzuki, DBS, L’Oreal, HSBC, Dell, Panasonic, Prudential, and Samsung.
Strategic alliances with leading telecom providers like Indosat Ooredoo Hutchinson, Vodafone, Celcom, Airtel, Maxis, Digi, and others demonstrate its quick adoption.
Despite the difficulties presented by the current state of the world, Novosol stated that moLotus is well-positioned to generate multibillion dollar revenue streams by leveraging the fastest-growing global mobile advertising market, which is projected to reach $413 billion by 2024.
It claimed there are a plethora of opportunities due to global scalability and high margins in the final quadrant.
Additionally, it stated that by revolutionizing processes, moLotus has produced significant value for mobile network operators and advertisers alike. These benefits include improved ROI, customer acquisition, high conversion rates, increased average revenue per user (ARPU), agility, cost savings, and customer value maximization.
In order to maintain its position as a key participant in the ever-changing mobile advertising market, Novosol said it is still dedicated to pushing technological innovation and transforming the way that mobile customers interact with businesses.
