AdOnMo Secures $25 Million to Expand Digital Advertising Reach Across India

AdOnMo, an ad tech startup backed by Zomato, has successfully raised $25 million (around ₹209 crores) in a funding round led by Singapore-based venture capital firm Rigel Capital and Indonesia’s Sinar Mas. This new investment adds to the $15 million the Hyderabad-based company secured from Zomato in its Series B round in January 2022, during which Zomato acquired approximately 19.8% of AdOnMo.

With this latest funding, AdOnMo has raised $43 million to date, with which the startup continues to expand its operations in the competitive ad tech landscape.

AdOnMo plans to utilize the new funding to enhance its operations by expanding its footprint to 40 cities across India, up from the current 24. This growth strategy aims to strengthen its advertising solutions in the country, allowing more brands to leverage its services. Additionally, the startup aims to increase its network of digital displays from 50,000 to an impressive 100,000.

Founded in 2017 by brothers Sravanth and Sandeep Bommireddi, AdOnMo specializes in outdoor advertising solutions. The startup stands out by providing real-time, data-driven advertisements that are delivered on cloud-connected digital screens. This innovative approach allows brands to target their messages effectively and adapt to changing market dynamics.

The company’s technology focuses on hyperlocal advertising, enabling brands to connect with consumers in specific areas. By using data analytics, AdOnMo ensures that advertisements are relevant and timely, improving engagement and conversion rates for its clients. This capability is particularly beneficial for businesses looking to reach audiences in localized markets.

As AdOnMo continues to scale its operations, it seeks to establish itself as a leader in the ad tech industry. With the backing of Zomato and the recent capital infusion, the startup plans to enhance its offerings and capture a larger share of the growing outdoor advertising market in India.

AdOnMo enhances its advertising capabilities with features such as social media-driven ad triggers, dynamic creative optimization, and QR/NFC-enabled interactions. These tools allow the startup to deliver highly targeted out-of-home (OOH) advertising campaigns that effectively engage audiences. By leveraging real-time data and user interactions, AdOnMo ensures that its displays resonate with viewers in a relevant manner.

The startup claims that its approach not only maximizes audience engagement but also provides measurable returns on investment (ROI). This is achieved through the seamless integration of offline and online marketing efforts, enabling brands to track campaign performance and optimize their strategies effectively. 

Also Read:

• AI-Powered Efficiency: Restoke.ai Gains $5.1 Million in Funding for U.S. Expansion
• Bridging Equity and Debt: Rachel Lau’s Insights on Venture Debt Financing
• Enterprise Singapore and Google Cloud Partner to Accelerate AI Innovation Among Startups and SMEs
• NextBold Capital Eyes $100 Million Fund to Fuel SME Growth in Vietnam, Cambodia, and Laos
• Japanese Startup Sakana AI Attracts $70 Million from Major Investors in Series A Funding