India-based mobile advertising company InMobi returns to venture capital investors rather than add strategic investor to second funding round.
InMobi, an India-based mobile advertising company, has finally disclosed raising $8m in venture capital funding after months of talking to a strategic investor about joining the syndicate.
A source close to the talks between InMobi and the telecoms corporate venturing unit said they had fallen through after about four months.
Venture capital firm Kleiner Perkins Caufield & Byers and Sherpalo Ventures reinvested in InMobi having previously provided more than $7m.
InMobi recently launched a $2m World Developer Fund to pay…
