Mobile direct marketer vMobo looks to raise $10-15 mn to fuel expansion
Interactive mobile direct marketing company vMobo is in talks with venture capital firms to raise $10-15 million to fuel its aggressive expansion plans. The California-based company is looking to expand its omni-channel marketplace vClusive in India and enter Singapore, Malaysia, Hong Kong and Thailand.
Currently, vClusive network spans across seven major cities in India and Dubai. The marketplace, exclusively for luxury brands in retail segment, has tie-ups with 120 brands with 85,000 user base.
Speaking to FE, Vinu Sundaresan, founder and CEO, vMobo Inc, said, “We are in talks with VC firms to raise $10-15 million in next one year for expansion.” Discussions are on for the second round of funding after vClusive received $6.3 million fund from venture capital firm Hunch Ventures recently.