Mobile advertising network Greystripe has raised $2 million to complete its Series C round of venture funding.

The money came from new investor, the Peacock Equity Fund, which is a joint fund co-founded by GE and its NBC Universal unit.

As part of the deal, Greystripe will supply ads from NBC Universal brands such as Sci-Fi Channel, Bravo, and MSNBC to its network of ad-supported mobile and iPhone apps.

NBC Universal will be able to sell Greystripe's inventory through its channels.

Greystripe CEO Michael Chang said one of the reasons the company was attractive to Peacock was that Greystripe can now serve Flash ads on iPhone and iPod touch.

Greystripe raised $5.5 million in the first part of its Series C round in March 2009, and has, to date, raised a total of $17.6 million.

The Peacock Equity Fund joins current Greystripe investors Incubic Venture Capital, Walt Disney's venture capital arm Steamboat Ventures, and Monitor Ventures

Competition in the mobile advertising market is hotting up with market leader AdMob recently acquiring fast-growing iPhone-focused rival AdWhirl.