Summary:

A Madrid-based mobile advertising network is taking investment to challenge big U.S. competitors.

T-Mobile G1 compared to Apple iPhone
photo: Corbis / James Leynse

In Europe, it is still common to find successful local operators beating global competitors in their native tongue.

Now Madrid-based TapTap Networks, a mobile advertising network operating in Spain, is taking venture capital to build on ongoing mobile media growth.

TapTap is taking a $4.5 million first round from Nauta Capital and CDTI.

The company manages mobile ads on 200 sites including Grupo Prisa, Hearst Group and 20 Minutes.

With the funds, it wants to do international expansion, especially in the U.S. and Latin America, Nauta says (release).

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