DFR Asia Ltd, Shanghai, China- and Tokyo, Japan-based digital media venture studio, has closed its first equity financing round.
The amount of the funding was not disclosed.
Backers include Internet Initiative Japan Inc., On the Line, and others.
The company intends to use the capital to expand its venture studio model for launching and growing new digital media startups in Asia. Founded in 2008 and managed by media and technology veterans John Possman (CEO) and Rick Myers, the studio conceives, builds, and assumes ownership and execution control for new ventures (in media metrics and analytics, online market research, in-store media, consumer data mining, online advertising, digital music services, and user engagement, among others) from inception.