AdOnMo, an ad tech startup sponsored by Zomato, has secured $25 million (approximately Rs 209 crore) in a funding round led by Singapore-based venture capital (VC) firm Rigel Capital and Indonesia-based Sinar Mas.
In January 2022, the startup secured $15 million in its Series B round from Zomato. In the Hyderabad-based startup, the food tech firm had acquired approximately 19.8% of the stake. To date, it has amassed $43 million.
The proceeds will be allocated to the expansion of its presence to 40 Indian cities from the current 24 and the increase of its number of displays, which presently provide hyperlocal, data-driven advertising solutions to brands, to 1 lakh from 50,000.
AdOnMo offers outdoor advertising solutions. The startup facilitates the delivery of real-time, targeted advertisements on digital displays that are connected to the cloud.
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The startup offers dynamic creative optimization, QR/NFC-powered interactions, and ad triggers that are driven by social media. By employing this methodology, it asserts that its out-of-home (OOH) advertising displays provide highly targeted campaigns that optimize audience engagement by means of seamless offline-online integration, measurable ROI, and precision targeting.
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