VentureBeat reports that BuzzCity, a Singapore-based mobile advertising company has secured $10 million in financing from Naspers, a South-African media company, to grow myGamma.com into a credible mobile ad network to compete with AdMob. If you’d like to gain more insight, check out their corporate blog.

I first (and last) met BuzzCity when I attended the Red Herring 100 Asia 2006 at Hong Kong - its founder Dr. Lai Kok Fung was there to receive the award. Dr. Lai is a veteran from the Kent Ridge Digital Lab (KRDL) days. KRDL was the predecessor to the various resesarch labs that Singapore has today. It’s most unfortunate KRDL (pronounced ‘cradle’) is no longer in existence - many veterans of the Singapore ICT sector hail from KRDL, and account for a decent showing among the local scene. Unfortunately, I did not get an opportunity to speak to him and understand his vision at that time. At 1.7 billion monthly impressions, myGamma.com does have some way to go to catch up with AdMob’s 4.6 billion monthly impressions. Nevertheless, it is most heartening to note of their recent achievement. Three cheers for KRDL and BuzzCity!

There is hope for Singapore’s ICT startups indeed~

edit on 23 Oct ‘08: Found another article in VentureBeat on BuzzCity’s entry into the mobile advertising space in USA. Seems like their total impressions trumps even that of Sequoia-funded Amobee!