Mobile Social Networking Company Raises Series A Financing From JAFCO Asia

Major Mobile Operator Deals, follows Tremendous User Growth and so follows sub related companies to grow. Asia follows this cycle relgiously and we see how mobile platform related companies grow. The company behind popular mobile social networking platform Mozat (formerly known as Morange) has previously raised seed funding from Singapore investment funds such as BAF Spectrum, Symphony Investments, SPRING SEEDS Capital and NUS Enterprise. This time, it raises an undisclosed amount of Series A funds from JAFCO Asia.

Mozat has around 10 million registered users, mostly located in the emerging markets of Asia and the Middle East.

“Mozat’s social network platform provides a compelling value proposition for telecom operators, application developers and users alike to benefit from the growth of the mobile internet, particularly in emerging markets. I look forward to supporting Mozat’s exceptional management team at the Board and through our extensive network in East Asia”, said RJ Sridhar, Associate Director and Deputy-Head, South Asia Investments, at JAFCO Asia.

Mozat,  a social networking platform tailored for the most popular mobile phones in the market. This giant serves as a mobile social community that allows users to connect and interact with each other as well as providing access to their favorite email, instant messaging and social gaming applications.Whereas for mobile operators, it promises back an extensible, market-ready Mobile SNS platform which provides data usage and customer loyalty. It is available for free at www.mozat.com or in a premium version through selected mobile operators in Asia and Latin America including Saudi Telecom Company (STC) and Orange.

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“This investment gets us ready for prime-time. 2010 will be a deciding year for mobile social network service as we see mobile operators in emerging markets leveraging their networks to drive data usage through value added services and applications. JAFCO Asia understands the opportunities and challenges ahead and can offer tremendous help in growing Mozat to a global mobile brand”, said Dr. Michael Yin, Founder and CEO of Mozat.