AdOnMo, an innovative adtech startup backed by Zomato, has successfully raised $25 million in a new funding round. This round was led by Singapore-based venture capital firm Rigel Capital and Indonesia-based Sinar Mas. The funds will be used to expand AdOnMo’s presence across 40 Indian cities and increase its number of digital displays, enhancing its ability to deliver hyperlocal, data-driven advertising solutions.
Expansion and Growth
AdOnMo plans to utilize the new funds to significantly expand its operations. Currently operating in 24 cities, the startup aims to extend its reach to 40 cities across India. This expansion will involve increasing the number of its digital displays from 50,000 to 100,000. These displays are strategically placed in high-traffic areas to maximize visibility and engagement. The company’s growth strategy focuses on leveraging its advanced technology to provide targeted, real-time advertisements on cloud-connected digital screens.
The founders, Sravanth and Sandeep Bommireddi, have emphasized the importance of this funding in driving the company’s growth. They believe that the combination of innovative technology and strategic expansion will set AdOnMo apart in the competitive adtech market. The company’s unique approach to outdoor advertising, which includes features like dynamic creative optimization and social media-driven ad triggers, ensures highly targeted campaigns that maximize audience engagement.
Technological Advancements
AdOnMo’s success is largely attributed to its cutting-edge technology. The startup provides outdoor advertising solutions that enable targeted, real-time advertisements on cloud-connected digital screens. This technology allows for dynamic creative optimization, social media-driven ad triggers, and QR/NFC-powered interactions. These features ensure that AdOnMo’s out-of-home (OOH) advertising screens offer highly targeted campaigns that maximize audience engagement through precision targeting, measurable ROI, and seamless offline-online integration.
The investment from Rigel Capital and Sinar Mas will also be used to further develop AdOnMo’s technological capabilities. The company plans to enhance its data analytics and machine learning algorithms to provide even more precise targeting and measurement of advertising campaigns. This focus on technology and innovation is expected to drive AdOnMo’s growth and solidify its position as a leader in the adtech industry.
Market Potential
The Indian adtech market is projected to grow significantly in the coming years. According to industry reports, the market is expected to reach $3.5 billion by 2025, growing at an annual rate of 15%. This presents a substantial opportunity for AdOnMo to capture a significant share of the market. The company’s unique value proposition, combining advanced technology with strategic expansion, positions it well to capitalize on this growth.
AdOnMo’s recent funding round saw participation from several notable investors, including existing investors and financial institutions. This diverse group of investors brings a wealth of experience and resources to support AdOnMo’s ambitious growth plans. With their backing, the company is poised to make a significant impact in the Indian adtech market and continue its trajectory of rapid growth and innovation.
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