Norfolk venture Addiply secures investment from Japanese firm Power Technology
16:54 18 December 2012
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Norfolk-based online advertising exchange Addiply is turning Japanese after securing a six-figure investment from Tokyo-based Power Technology Inc.
The investment, which was facilitated by the UK Trade & Investment Venture Capital Unit, will see work start immediately on building a Japanese language version of the online self-serve advertising platform, in addition to a Welsh language version of the platform which is already live.
Founder and chief executive Rick Waghorn, who is based in Cringleford, near Norwich, said the ability of the plateform to be mutli-lingual was key to it winning PowerTech investment.
Trade and Investment Minister Lord Green said: “This is a great step forward for Addiply and demonstrates the support UK Trade & Investment’s new Venture Capital Unit is giving to innovative and growing businesses.”
Addiply has also got a second, NESTA-funded project underway in Norfolk - delivering a rural wifi portal to the community of Loddon; supporting a ‘21st Century Village Correspondent’ via a mix of national brand advertisers seeking targetted local spaces and the whole parish magazine advertising market.
Mr Waghorn added: “As part of this round of funding we have also been able to secure the services of Sue Barnes, the former MD of Scoot, as our new Commercial Director - something that we are equally delighted about.
“Given Sue’s rich experience in the field of local advertising sales, we would hope to see Addiply offering a sales solution, as well as a technical one, to the clear and urgent challenge of monetizing local and niche spaces online and on mobile.”