This Singaporean company hopes to disrupt mobile advertising in India by bypassing the need for Internet connectivity
- 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.
The new platform and the technology that we’re hoping to penetrate the Indian market and disrupt the Indian $2 billion direct marketing spend in the same way digital advertising is disrupting media.
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.
We are also planning to partner Indian operators and the funding will be used for market development and expansion.
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.
moLotus platform has potential to disrupt the $300 billion direct marketing market and also eying the emerging $1.3 trillion digitalization and 5G opportunity - a large global and high margin revenue opportunity.
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.
While the company is based in Singapore, they also have fully operational offices in Malaysia and India as well. The funding acquired will be used to expand operations in all three markets, while allowing Novosol to penetrate new markets in Asia — like Indonesia, Philippines, etc.
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