AdOnMo, an adtech startup supported by Zomato, has raised $25 million, or roughly Rs 209 crore, in a funding round headed by Indonesia-based Sinar Mas and Singapore-based venture capital (VC) firm Rigel Capital.
The startup had raised $15 million from Zomato in its Series B round earlier in January 2022. The Hyderabad-based startup had approximately 19.8% of the foodtech major. Thus far, $43 million has been raised.
With the proceeds, the company plans to grow from its current 24 to 40 Indian cities and add 1 lakh to its current 50,000 displays—which offer brands hyperlocal, data-driven advertising solutions.
AdOnMo is a company that Sravanth and Sandeep Bommireddi founded in 2017 to offer outdoor advertising solutions. The startup makes targeted, in-the-moment ads available on digital screens connected to the cloud.
Features like social media-driven ad triggers, dynamic creative optimization, and QR/NFC-enabled interactions are offered by the startup. It makes use of this to assert that its out-of-home (OOH) advertising screens provide precisely targeted campaigns that maximize audience engagement through quantifiable return on investment and a smooth offline-online integration.
