SUMMARY
- AdOnMo raises $25M to expand from 24 to 40 cities and increase displays to 1 lakh.
- The firm provides hyperlocal, data-driven outdoor ads with features like dynamic creative optimization and QR interaction.
- Zomato invested $15M in AdOnMo’s Series B, acquiring a 19.8% stake in the startup.
Zomato-backed Adtech firm AdOnMo has secured $25 million (₹209 crore) in fresh funding, with the round led by Indonesia’s Sinar Mas and Singapore’s Rigel Capital.
The company plans to use the additional funding to grow from its current 24 to 40 Indian cities and boost the number of displays it has, which provide brands with hyperlocal, data-driven advertising solutions from 50,000 to 1 lakh, as stated by AdOnMo’s cofounder, Sarvanath Gajula. He further adds, “With this fundraise, we are poised to engage over 30 million urban consumers, delivering exceptional value and amplifying brand impact for our advertisers”.
Sarvanath Gajula and Sandeep Bommireddi-led AdOnMo, founded in 2017 offers outdoor advertising solutions. The business makes tailored, in-the-moment ads available on digital screens connected to the cloud. Its in-house infrastructure offers features like social media-driven ad triggers, dynamic creative optimization, and QR/NFC-enabled interactions. The firm makes use of this to assert that its out-of-home (OOH) advertising displays provide precisely targeted campaigns that maximize audience engagement through quantifiable return on investment and smooth offline-online integration.
Foodtech giant Zomato contributed $15 million to the startup’s most recent Series B financing, acquiring a 19.8% share in the startup. Other than Zomato, a few of the firm’s investors include Mumbai Angel Network, Astarc Ventures, and Bace Capital. Before this investment round, it had raised a total of $29.4 million.
