Google announced on Tuesday that it will create a $500-million fund for digital ad platform platforms, including its mobile ad team, in a move that will also help the company to expand its business beyond Android and iOS.
The new fund, which is being set up by Google Ventures, will enable the company’s ad teams to invest in emerging technologies such as the AdMob platform, which will be able to reach the larger population of mobile users through the Google Play Store.
Google has invested heavily in mobile ad platforms in the past, including the AdSense and AdMob platforms, but its move to create the new fund will be the first time that Google has created a separate fund for its ad team.
The funds will be administered by Google’s advertising division, and will be used to acquire technology companies and fund new research initiatives.
Google’s move comes as it is also looking to scale its digital advertising platform in India, where it has struggled to keep up with the pace of growth of other online advertising platforms in India.
The company had previously focused on its mobile platform, but now has ambitions to target the broader market.