Finnish Exaget, a radio advertising technology company, has received a 700,000 euro equity investment from Finnish, Asian and UK investors. The company’s growth is a reflection of the movement in the radio industry where last year adspend was the highest it has been since 2000, up 8.9 per cent.
The investment includes angel investors in the UK, and Finnish venture capital firms Finnvera and Gorilla Ventures. In addition, Exaget received a government research and development loan from Tekes, the Finnish funding agency for innovation.
“This is a really exciting time for us as a company,” says Exaget CEO Shankar Meembat. “Our technology is yielding tremendous benefit to our clients and with our focus on innovation, customer service and expansion, we are looking forward to another successful year.”
Exaget launched its first service at the end of 2012 in Finland. The company’s mission is to intelligently mobilise the applications and services used by consumers and businesses and create new mobile services that will be needed in the future. Exaget’s first solution is a technology that delivers customised and targeted audio advertisements and other content to listeners based on their profiles.
Article published in cooperation with Good News from Finland.