Adfonic, the web-based self-service global mobile advertising marketplace, today announced that it has secured $600k in its first round of funding. The money raised will fund the recruitment of key personnel and the next phase of development for its advertising platform.

The funding comes from Gordon Shields, a clean tech entrepreneur, who is best known for founding Shields Environmental and Fonebak (now Regenersis), both leading environmental companies. Gordon has a great track record as an entrepreneur, growing Fonebak's turnover from zero to over £20m in its first year (turnover is now over £100m). He is also experienced in international M&A, cross-border businesses and fundraising and will be an active investor, providing additional resource and experience to this fast growing business.

Adfonic launches the industry's most comprehensive mobile advertising marketplace

LONDON, UK — July 1, 2009. Adfonic, a new mobile advertising exchange, is launching today. It will enable advertisers and agencies to bid for advertising on mobile sites and applications, creating a new revenue stream for mobile publishers. Adfonic's self-service global mobile advertising platform will address the advertising community's increased demands for more sophisticated mobile campaign management and maximise the earning potential for a new generation of mobile internet sites and applications worldwide.

With Adfonic, advertisers and publishers alike will benefit from the most advanced targeting capabilities in the market, detailed web-based real-time reporting and analytics, and an intuitive user experience.