Hyderabad, India – Ybrant Digital, an India-based digital
marketing firm, announced on Tuesday that it has closed a new $48 million round
of debt and equity financing.
Oak India Investments led the investment round;
previous backers Asia Pacific Capital and ICICI Bank also participated.
Founded
in 2000, Ybrant has offices in 20 countries and counts SAP, Ford, UPS and the US
Army as clients.
The company will use the funds for product development, to
expand internationally and explore acquisitions.
Last year, the company
acquired Web portal Lycos from Korea’s Daum Communications for $36 million.
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