NetXcell is all set to launch a mobile advertising engine named ‘Ad Axis’ which it claims provides a contextual advertising medium to target mobile subscribers. The company is also aiming to raise funds of about Rs.12 crore through private equity.

“This product will take NetXcell to a new arena – mobile advertisements – which is currently a few million dollar market but is bound to grow to $70 billion by 2012. At present, we are in talks with a customer to do a pilot and plan to introduce the product in India and the US this October,” said Executive Chairman Dayakar Puskoor on Ad Axis.

Puskoor added that the company expects the raising of funds to be closed within this year.

The company generates 90 per cent of its revenues from Airtel and Aircel.