AdOnMo is a digital billboard advertising solution offering ad tech startup that secured 25 million USD in its ongoing series B funding round. Venture Capital firm Rigel Capital and Sinar Mas led the funding round with the participation of other investors. The startup plans to use this fund to scale its operations, expand its services, and develop its market presence. The company also intends to expand its market in 40 Indian cities and increase its number of displays. This round is the second tranche of the round in March.
The ad tech startup provides several connected digital screens with targeted and contextual solutions. The company uses advanced technologies and machine learning to optimize performance. The data intelligence platform, tracxn mentioned that the startup has secured over $54.4 million across multiple funding rounds since its inception, including $25 million raised during the recent funding round.
The platform provides features like audience segmentation, live data targeting, and hyper-local targeting. The startup uses data analytics for consumer behavior, demography, and social connections to deliver customized ads. The company offers digital billboard ads that enable real-time and targeted advertising on cloud-connected digital screens.
The startup received an investment of 15 million USD from the food tech major Zomato in its series B funding round. Entrackr reported that Zomato now holds around 19.8 percent of the AdonMo market. The firm aims to transform the ad tech landscape and offer brands personalized and immersive experiences.
The company serves its solutions across various sectors including automobile, real estate, and retail. The startup has 32 institutional investors including Bace Capital and Z Nation Lab. Adonmo faces competition from other ad tech platforms in the same segment including Daktronics, Lamar, and Focus Media. The company aims to provide data-driven advertising solutions to 1 lakh brands.
The Zomato-backed startup plans to use some of this investment to expand its customer base and grow its number of displays in the advertising market. The company aims to develop more innovative ad tech solutions with better user experience. The funding will allow them to accelerate the company’s growth and revolutionize advertising and digital marketing. The development came just after the ad tech startups saw increased investor interest. The company plans to launch new data-driven advertising solutions in the ad tech market this year.
Conclusion :
Adonmo is a Hyderabad-based ad tech startup that provides an online connected digital screen with targeted advertisements. The startup secured a fresh capital of 25 million USD from the venture capital firm Rigel Capital and Indonesia-based Sinar Mars. The company has secured over 54.4 million USD across ten funding rounds since its inception, including the ongoing funding round.
The startup provides digital billboard ad and marketing solutions. The startup aims to use this investment to strengthen its market presence and launch its services in 40 Indian cities while offering more innovative ad tech solutions. The company aims to increase its number of displays to 1 lakh. Adonmo competes with ad tech platforms like Daktroncics.
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