London-based AdTech startup Mozoo has acquired AdinCube, a French AI firm whose proprietary technology claims to be able to predict supply and demand, for a reported $20m.
According to TechCrunch, Mozoo borrowed from BNP Paribas and BPI France to finance the deal and also received funds from angel investors.
The news comes after Mozoo closed a Seed round some six years ago and follows on from the closure of AdinCube’s $1m round at an undisclosed valuation in January.
Mozoo explains the deal will make it easier for it to boost the global expansion of its in-app monetisation tools.
In fact, TechCrunch reports that Rugeri, also the CTO, previously worked in the airline industry – where he was tasked with optimising operations and creating business applications for pilots – before entering the advertising technology space.