- Novosol is a Singapore-based
mobile advertising platform company that uses a platform called moLotus to deliver media rich messages to consumers without being dependent on data or another application. - Brands like HDFC, Standard Chartered, Samsung and HSBC are already using the moLotus platform.
- With their new round of funding, the company is planning to expand their operations in India as well as penetrate new Asian markets like Indonesia.
Novosol, an Singapore-based mobile advertising platform company just landed $7 million to drive market growth, and expand internationally. And their plans include disrupting the $2 billion direct marketing using their, moLotus — powered by by a proprietary technology it calls mGram.
Lokhandwala explains that the moLotus platform is a mobile advertising platform that can integrate video, images, text and links into one message and deliver it to consumers SMS inbox without having to use data or an application.
So, essentially, in expanding their partnerships with Indian telecom operators, brands — like Samsung, HDFC, Panasonic, Standard Chartered, HSBC, LÓreal and Tata who are already using moLotus — will be able to acquire new consumers and increase consumer engagement with existing ones.
The company claims that moLotus has the potential to disrupt the direct marketing market in the same way digital advertising is disrupting media.
Novosol started its India operations in 2011, and the company has already collaborated with top telecom operators in several countries to generate a large and new high-margin revenue stream with minimal capital expenditure and operating expenditure for them.
See also:
$4
$4
$4