Novosol, a Singapore-based mobile advertising technology player, has successfully raised total Series B funding to over $10 million via Singapore and the United Kingdom Family Offices.

This significant investment will support Novosol’s expansion plans in key markets across the Middle East and South Asia, which include Vietnam, Thailand, and others, Novosol said in a statement.

According to the statement, the infusion of capital will be primarily directed towards advancing Novosol’s flagship product, moLotus – a cutting-edge mobile video customer interaction platform designed to add innovation, and transformation while maximizing marketing return of investment (ROI) for advertisers and brands.

The breakthrough tech enables direct, spam-free delivery of hyper-personalized rich media campaigns to massive telecom subscriber bases, all through a permission-based system.

Using proprietary breakthrough technology, moLotus works with any mobile phone.

No data plan required, large data analytic capabilities, RCS enabled, artificial intelligence (AI)-driven avatars and ad creatives for superior engagement.

Additionally, moLotus provides new performance-based pricing
options to advertisers. moLotus is the preferred choice for leading brands including Amazon, Suzuki, DBS, L’Oreal, HSBC, Dell, Panasonic, Prudential, and Samsung across banking, insurance, e-commerce, consumer eElectronics, automobile, retail, and government sectors.

Its rapid adoption is shown by strategic partnerships with major telecom operators like Indosat Ooredoo Hutchinson, Vodafone, Celcom, Airtel, Maxis, Digi, and more.

Despite the challenges the current global landscape poses, Novosol said moLotus is poised to create multi-billion revenue opportunities; capitalizing on the fastest-growing global mobile advertising market, expected to reach $413 billion by 2024.

With high margins in the last quadrant and global scalability, it said the possibilities are enormous.

It also said moLotus has created significant value for both advertisers and mobile network operators transforming processes; ensuring high conversion, customer acquisitions, better ROI, average revenue per user (ARPU) uplift, agility, cost savings and customer value maximization.

Novosol said it remains committed to advancing technological innovation and reshaping the future of mobile customer interaction, solidifying its position as a leading player in the dynamic mobile advertising landscape.

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