InMobi Goes Global, Expands to California
Bangalore-based mobile ads firm InMobi said it is buying five-year-old California-based startup AerServ for $90 million in a stock-and-cash deal. AerServ helps mobile publishers increase revenue through its online platform where they can manage several ad networks at the same time. “Their key offering is very specifically header bidding in the app space,” Abhay Singhal, co-founder and chief revenue officer at InMobi, said in a Quartz report. “The second offering is very strong video solutions, and video is the highest-growing format worldwide today.” After this acquisition, InMobi’s video ads and programmatic ads businesses will account for 35 percent of the firm’s total revenue. That’s important because two-thirds of the world’s digital display advertising is expected to be traded programmatically by 2019, climbing up from $57.5 billion in 2017 to $84.9 billion. And within the next four years, InMobi is aiming to earn at least half-a-billion dollars in revenue, riding on AerServ’s platform, according to the report. InMobi was founded in 2007 by four alumni of the Indian Institutes of Technology — Naveen Tewari, Mohit Saxena, Abhay Singhal and Amit Gupta. After absorbing the 70 employees of AerServ, InMobi’s total headcount in North America will more than double to 150, the report said. Its products will be merged with InMobi, though its tech team will continue to work out of its Los Angeles office.
Louis Berger Awarded India-based Contract
Louis Berger was recently awarded a $17 million contract by the Maharashtra State Road Development Corporation to provide project management services for the Versova-Bandra Sea Link. Construction is estimated to cost $1 billion and will take 54 months to complete. “We are honored to play a major role in one of the largest infrastructure projects — not just in Mumbai, but in India,” said Kshitish Nadgauda, Louis Berger senior vice president and managing director for Asia. “Our responsibilities on this significant project will require efficient delivery of top-quality, highly responsive services, and our intent is to exceed MSRDC's expectations in every respect.” The sea link will help reduce traffic congestion in Mumbai. Louis Berger will provide services in three phases. The first phase will include the peer review of the previously-compiled techno-economic feasibility study and detailed project report, while the second phase will include compilation of tender documents for engineering, procurement and construction of the project, as well as management of the bid process. The third and last phase will involve project and construction management services during the construction and defects liability periods, including review of the selected EPC contractor’s engineering designs. The project is slated for completion by late 2021.
Indian American Lions Club Receives Charter
The newest Lions Club in Georgia chose “Atlanta Namaste” as its chapter name and was officially presented with its charter at a recent meeting in Cumming, the Atlanta Journal Constitution reported. With that, the club becomes part of the largest service organization comprised of 46,000 affiliates and more than 1.4 million members around the world, it said. Ramesh Gude is the president of this Indian American Club. Gude told the AJC that Lions Clubs are very popular back home in his native India where they provide many much-needed programs for the poor, hungry and disadvantaged. “We started this club to serve local communities in Georgia,” he said in the report. Gude, a consultant in the technology industry, said he was especially proud to accept the club charter during this, the 100th anniversary year of Lions International, and particularly because the worldwide organization has elected Dr. Naresh Aggarwal of Batala, Punjab, India to be the first Indian ever to serve as international president, the report added.
NonprofitCoach Announces Fellowship Recipients
Madhawi Ramdin was among the recipients of the 2018 Global Leaders Fellowship by NonprofitCoach. The fellowship is an exclusive leadership development program for new and emerging nonprofit executives, 25 to 35 years of age, from around the world. Selection criteria for the 2018 inaugural class included nonprofit leadership, age, diversity, participation, merit and financial need. Ramdin, 35, of Suriname is co-founder and managing director of Equal Chances @ Green Development (EC@GD), a non-government organization that partners to conceptualize sustainable development approaches, strengthen communities, and conserve natural resources, culture and heritage.
NeoDocto Inc. Expands to Australia
NeoDocto is setting a new benchmark for healthcare and global vision to serve the entire world population. Madhukar Sanneerappa, global president and CEO of NeoDocto Inc. ensures to build a healthy world and make healthcare affordable to every individual. The New York-based company operates dozens of countries but Sanneerappa said it is crucial to expand NeoDocto. Now, NeoDocto has expanded its operations to Australia. The new office branch is located at Canberra City West, Tower A, Level 5, 7 London Circuit, Canberra. Soon, NeoDocto healthcare services are available to all the residents of Australia. “We understand the sense of urgency and find the possibility to serve every individual in every direction. We ensure that the users of NeoDocto healthcare app finds hard to miss anything on healthcare," Sanneerappa said. NeoDocto’s top priority is to educate and create awareness on healthcare to people and make healthcare services affordable and accessible on a digital platform.
TPG Growth Leads C3 IoT $100M Funding Round
C3 IoT, a leading AI and IoT software platform provider for digital transformation, announced a new round of financing by existing investors TPG Growth, Breyer Capital, Sutter Hill, Pat House and Thomas M. Siebel. Joining the round is The Rise Fund, the global investment fund that is committed to achieving measurable social and environmental outcomes alongside competitive financial returns. C3 IoT provides several AI-based product offerings that deliver environmental and social benefits, such as energy management and precision health solutions. “Our additional investment in C3 IoT reflects our ongoing confidence in the company’s unmatched capabilities, best-in-class management team, and significant growth potential,” said Nehal Raj, partner and head of technology investing at TPG. “C3 IoT is transforming industries, creating competitive advantages for its customers, and generating significant, measurable social impact in important areas such as healthcare and energy. Applying our experience building businesses across sectors, we are excited to continue to work with Tom and the team to accelerate adoption of the platform.”