Mobvista to invest $100 million in India by 2018.

Mobile advertising platform Mobvista recently said it will invest $100 million (about Rs. 665 crore) over the next three years to expand its India operations.

As part of its expansion plans, Mobvista will establish a local India office in the city by the end of this year.

The local presence will enable the company to deploy a more deep rooted business engagement with local partners and stakeholders, Mobvista said in a statement.

In addition to this, the company aims to actively focus on various other investment opportunities in the Indian market, it added.

Mobvista, which started operation in 2013, has grown its business by 30 times in a short span of two years.

According to the IAMAI and KPMG report, India is projected to have 236 million mobile internet users by 2016 and further grow to 314 million by 2017.

ET