IDG Ventures India Invests in Ozone Media

Bangalore, Jul 2: IDG Ventures India, an early-stage technology venture capital fund, on Wednesday, July 2 announced investment in online advertising network Ozone Media.

Ozone Media provides advertisers who want to leverage the internet, access to websites in its database. Commenting on the investment, Ozone Media Founder-CEO Kiran Gopinath said the company had acquired country's largest publisher base with a focus on premium inventory which allowed it to grow rapidly. It planned to use the funding to reach out to a broader set of advertisers and expand sales and technology teams.

IDG Ventures India Founder and Managing Director Manik Arora said, ''Having successfully invested in ad networks globally, we are excited to partner with Ozone Media.'' The Indian market for online advertising is estimated to be Rs 450 crore currently and expected to grow to Rs 2,000 crore over the next three years, he added.

UNI