In a significant boost to the ad-tech landscape, AdOnMo, an innovative advertising firm, has successfully secured a substantial investment of $7 million in its latest funding round. This infusion marks a pivotal moment for the Hyderabad-based startup, signaling strong investor confidence and a clear path for future growth.
A Leap Forward for AdOnMo
AdOnMo’s journey began with a vision to revolutionize outdoor digital advertising. With this fresh capital, the company is poised to expand its reach and enhance its offerings. The investment will primarily fuel business expansion and satisfy working capital requirements, setting the stage for AdOnMo to scale new heights.
The company’s unique approach to targeted digital advertising, which leverages outdoor digital screens in residential and corporate parks, has already made significant inroads across 21 cities. This strategy has not only attracted attention from investors but also resonated with advertisers seeking innovative ways to connect with their audience.
The Investors’ Vote of Confidence
The Series B1 round saw participation from a diverse group of investors, reflecting the broad appeal of AdOnMo’s business model. Healthcare veteran Ravindranath Kancherla and his son Kancherla Pruthvinath led the charge with a significant contribution, alongside notable investments from Qatar Insurance Company and ZNL Growth (Z Nation Lab).
This round also witnessed engagement from individual investors, further underscoring the widespread support for AdOnMo’s vision. The company’s ability to attract such a varied investor base speaks volumes about its potential and the robustness of its business plan.
Financial Trajectory and Future Prospects
AdOnMo’s financial performance has been nothing short of remarkable. The company’s revenue from operations surged four-fold in the last fiscal year, reaching a commendable figure of Rs 75 crore. While the company did report losses, the aggressive growth trajectory suggests a bright future ahead.
With a post-money valuation pegged at $105 million, AdOnMo stands at the cusp of a transformative phase. The company’s strategic moves and the backing of Zomato in previous rounds have laid a solid foundation for sustained growth and innovation in the ad-tech domain.
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