Engage Takes Minority Stake in Wireless Ad Firm Avesair
Avesair launched yesterday to provide technology and advertising services to telecommunications companies that want to deliver marketing messages to wireless devices.
Avesair is licensing technology from Engage, which has taken a minority stake in the new company. Engage would not say how large a stake it took in Avesair.
The new company received an initial round of $16 million in funding from Nokia Venture Partners, which invests in mobile Internet ventures; the New Things venture fund; and Engage.
Avesair is led by Kimo Kong, formerly general manager of Engage's software division.