Arab Mobile Advertising Startup Noqoush Raises $3 Million
Noqoush Mobile Media Group, an Arab mobile advertising and mobile media monetization startup, announced concluding its first 3 million dollar investment round a couple of weeks ago.
In a press release, the company stated that a group of Arab and Foreign angel investors invested in its technical capabilities and future visions aiming at developing a full-fledged mobile advertising platform and mobile media monetization solutions targeting the massive mobile growth in the Middle East.
This first round of investment is aimed at providing the company with the required liquidity to enhance its capabilities, boost its growth, and attract the needed skills and competences to meet the increasing demand on its mobile media solutions.
Noqoush’s main product is called AdFalcon, a specialized advertising platform developed to bridge the gap between regional mobile application developers and mobile website owners on one hand, and regional advertisers on the other. This way app developers and site owners have an easier regional channel through which they can sell mobile ads and start monetizing; while businesses and advertisers get the benefit of being able to get their ads on the mobile apps and sites developed from the region, for a regional audience.
As with any modern day advertising platform, AdFalcon focuses on the relevance of the ads served and on providing targeting options that make it more interesting for advertisers.
As statistics over the past years have been showing Mobile penetration is high in the region and continuing to grow, with some core markets showing important growth in smartphone penetration too; however, mobile advertising is still in its very early days in the region. There obviously is a lot of promise in this space and big potential for growth, and that’s the main logic behind this investment of course, still it could take some time for the market to develop and for ad money in the region to start flowing into mobile advertising; Noqoush seem to be in a good position technology- and team-wise to be able to take advantage of and contribute to the growth of this nascent advertising medium, they just need the patience and stamina for it.
Noqoush currently have offices in Amman (Jordan) and Dubai (UAE); with plans to expand soon in Saudi Arabia and Egypt.
The core founding team behind Noqoush consists of: Ashraf Habib (Chairman), Shorhabel Ghoneim (CTO) and Mahmoud Iswaid (Business Development).