Chinese mobile advertising platform Adwo has closed a $12m Series B financing round led by Silicon Valley venture firm Translink Capital and Vangoo Investment Partners, the Greater China-focused investment arm of Ant Capital Partners.
The company said it will use the funding to expand its operations and open offices in Hong Kong and Japan as it seeks to expand its business beyond China.
Adwo currently displays adverts on over 80 million smartphones and across more than 20,000 mobile applications in China.
The company’s most recent monthly revenues reached RMB10m ($1.57m), a figure it hopes to increase ten-fold to RMB100m this year.
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