Singapore-based cross-media monetisation service provider Asia Media Exchange (AsiaMX) today announced that it has secured ‘a six-figure amount’ seed round from an angel investor group and 10K Asia, the accelerator arm of venture capital firm Marvelstone Group.
“AsiaMX is our first venture into the adtech space … 10K has been watching the ad-tech boom for awhile and we have observed how innovative new products and solutions in this space are heavily disrupting the traditional advertising model. AsiaMX’s model is ideal for scale due to it’s ability to plug into the global ecosystem seamlessly,” according to Joel Ko Hyun Sik, CEO of 10K Asia in an official statement.
The funding will be used to launch Asia’s first programmatic TV advertising sell-side exchange in Asia Pacific.
AsiaMX plans to introduce the platform in the coming weeks and will be looking to expand beyond Southeast Asia, regionally across Asia Pacific.
The company aims to solve the problem of buying and selling high-quality television and cross-media advertising inventories across Asia with its programmatic television exchange, Advanced TV, which is paired with an existing digital exchange operated by AsiaMX.
The solution provides an integrated platform for leading television companies to monetise and connect linear television, online video and mobile advertising inventories to global media buyers.
“Television continues to bring highly entertaining and engaging content to audiences across Asia Pacific. Introducing programmatic advertising to the world of television advertising will unlock real upside opportunities for both the television companies and advertisers. It will bring about huge improvements in workflow and trading efficiencies to the ecosystem,” said CEO Basil Chua.