Russian mobile advertising startup AdMoment raised USD3 million from two venture funds. Prostor Capital and international fund e.ventures participated in this investment. This was according to a report published by VentureBeat today.

AdMoment had designed a real-time bidding (RTB) technology that allows advertisers to customize target settings. These settings would include time, location, type of connection, type of device, and app category, the report said. 

The startup company describes itself as a leader in Russia's programmatic mobile ad buying market. It was founded in August 2012 and launched its first ad in January 2013. The company said it had managed more than 100 ad campaigns with advertisers to date. AdMoment also said it processes around 5 billion ad requests per month, VentureBeat reported.

Constantin Rosset, AdMoment's chief executive and co-founder, explained the RTB technology: "For example, the ad for a refreshing drink has a higher probability of being distributed to a smartphone on the coast of the Black Sea than to one in Siberia in winter."