AdOnMo has secured USD 25 Mn funding led by Singapore-based VC firm Rigel Capital and Indonesia-based Sinar Mas. The funding round also saw participation from the existing investors. ValPro’s startup advisory vertical, Enablers, was the advisor in this transaction.
Founded in 2017 by Sravanth Gajula and Sandeep Bommireddi, AdOnMo provides outdoor advertising solutions using cloud connected digital screens. The company offers highly targeted campaigns that maximise audience engagement through precision targeting, measurable ROI, and seamless offline-online integration. Its proprietary infrastructure includes advanced features such as dynamic creative optimisation, social media-driven ad triggers, and QR/NFC-powered interactions. It is currently presence in 24 cities with over 50,000 digital displays across India.
The company will use the fund infusion to expand its operation to 40 cities and increase the screen network to 100,000 displays, targeting more than 30 million unique viewers.
Link:
https://www.dealstreetasia.com/stories/rigel-capital-adonmo-413312
https://inc42.com/buzz/zomato-backed-adonmo-raises-25-mn-to-expand-presence-to-40-indian-cities/
https://mystartuplife.in/index.php/2024/09/25/adtech-startup-adonmo-raises-25-mn-in-funding/
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