Summary:

  • Founded in 2017 by Sravanth and Sandeep Bommireddi, AdOnMo has carved out a niche in the outdoor advertising.

  • This round was led by Singapore-based venture capital firm Rigel Capital and Indonesia-based conglomerate Sinar Mas.

  • Currently, the company operates in 24 cities, but it aims to increase that number to 40, significantly boosting its reach in the country ecosystem.

Zomato-backed adtech startup AdOnMo has successfully raised $25 million (around Rs 209 crore) in its latest funding round, signaling a significant step forward in its growth trajectory. The round was led by two prominent investors: Singapore-based venture capital firm Rigel Capital and Indonesia-based conglomerate Sinar Mas. This funding marks an important milestone for AdOnMo, helping it bolster its operations and further establish its position in the rapidly evolving adtech landscape.
This new capital infusion builds upon earlier investments.

One of the startup’s most noteworthy backers is Zomato, which had invested in the company during its Series B round in January 2022. Zomato had put in $15 million at that time, acquiring a 19.8% stake in the Hyderabad-based adtech company. This earlier funding from Zomato, combined with the most recent round, brings AdOnMo’s total funds raised to an impressive $43 million.

AdOnMo plans to use the latest funding to expand its presence across India. Currently, the company operates in 24 cities, but it aims to increase that number to 40, significantly boosting its reach in the country. In addition to expanding geographically, the startup also intends to grow its network of advertising displays. These cloud-connected digital screens, which are key to its business model, will be increased from 50,000 to 1 lakh. By scaling up its displays, AdOnMo can offer more brands hyperlocal, data-driven advertising solutions that are tailored to specific audiences and locations.

Founded in 2017 by Sravanth and Sandeep Bommireddi, AdOnMo has carved out a niche in the outdoor advertising market with its innovative approach. The company’s primary offering is its digital out-of-home (DOOH) advertising platform, which enables targeted, real-time advertisements to be displayed on its network of screens. By leveraging advanced technology and data, AdOnMo ensures that its advertisements are not just seen but are also highly relevant to the audience viewing them. This level of personalization helps brands achieve better results and stronger engagement with potential customers.

One of the key features that sets AdOnMo apart from traditional out-of-home advertising solutions is its dynamic creative optimisation technology. This allows advertisements to be adjusted in real-time based on a variety of factors, including audience demographics and environmental conditions. The startup also offers social media-driven ad triggers, enabling brands to sync their digital campaigns with AdOnMo’s outdoor screens. This feature enhances the seamless integration of online and offline marketing efforts, giving advertisers the flexibility to create more cohesive and multi-channel campaigns.

Additionally, AdOnMo incorporates interactive elements like QR codes and NFC technology into its digital displays. These features allow consumers to engage directly with the advertisements, driving higher levels of interaction and providing brands with valuable insights into consumer behavior. For example, a person passing by an AdOnMo screen could scan a QR code to receive more information or promotional offers, creating a bridge between the physical and digital worlds.

As the digital advertising landscape becomes increasingly crowded, companies like AdOnMo are offering advertisers unique ways to stand out. With its focus on hyperlocal targeting, real-time campaign adjustments, and measurable return on investment (ROI), AdOnMo provides a compelling alternative to traditional forms of outdoor advertising. Its ability to integrate offline ads with digital marketing efforts also adds to its appeal, as brands continue to seek out innovative solutions that provide more precision and effectiveness in reaching their audiences.

In the coming years, AdOnMo’s ambitious expansion plans, backed by its latest funding round, will likely position it as a leader in the DOOH advertising space in India. The company’s continued investment in technology and data-driven solutions will help brands navigate the complexities of modern advertising while maximizing their engagement and return on investment. With $25 million in new funding, AdOnMo is well-equipped to scale its operations, expand its reach, and further innovate in the field of out-of-home advertising.