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AdOnMo Secures $7 Million in Funding to Expand DOOH Advertising Network in India

AdOnMo, a Hyderabad-based ad-tech startup, has successfully raised INR 58.21 crore (approximately USD 7 million) in its Series B1 funding round. This significant investment marks the company's first major capital infusion since its Series A round led by Zomato last year.

Expanding Reach and Enhancing DOOH Capabilities in India

The newly acquired funds will be strategically deployed to fuel AdOnMo's growth across India. The company plans to expand its presence from 24 cities to 40, significantly broadening its reach and impact. Furthermore, AdOnMo aims to double the number of its hyperlocal, data-driven advertising displays, increasing its network from 50,000 to 1 lakh. This expansion will further strengthen its position in the digital out-of-home (DOOH) advertising market in India.

AdOnMo's Vision for Targeted Advertising in India

AdOnMo's co-founder, Sravanth Gajula, expressed his optimism about the future, stating, "With this fundraise, we are poised to engage over 30 million urban consumers, delivering exceptional value and amplifying brand impact for our advertisers."

AdOnMo's Journey in India's Ad-Tech Landscape

Founded in 2016 by Sravanth Gajula and Sandeep Bommireddi, AdOnMo has emerged as a prominent player in the ad-tech sector in India. The company specializes in targeted digital advertising through outdoor digital screens strategically located in residential and corporate parks across 21 cities. AdOnMo leverages its proprietary infrastructure to deliver hyper-targeted campaigns, employing features like dynamic creative optimization, social media-driven ad triggers, and QR/NFC-powered interactions. These innovative features enable brands to achieve high audience engagement and measurable ROI.

Key Investors in AdOnMo's Growth Story

Last year, Zomato led a USD 15 million funding round, securing a 17.49% stake in the company. Other key investors include BAce Capital and Astarc Ventures.

Rigel Capital, a new investor in this round, highlighted AdOnMo's commitment to hyperlocal intelligence and advanced technological infrastructure. Sebastian Togelang, founding partner of Rigel Capital, stated, "Their (AdOnMo) focus on hyperlocal intelligence and advanced technological infrastructure aligns seamlessly with our cross-border synergy creation strategy. We look forward to supporting AdOnMo as it continues to disrupt and lead the Indian DOOH advertising market."

AdOnMo's Series B1 Funding: A Catalyst for Growth in India

This latest funding round marks a significant milestone for AdOnMo, underscoring the confidence investors have in its potential to revolutionize the DOOH advertising landscape in India. The company is poised for further growth, leveraging its innovative technology and data-driven approach to provide impactful advertising solutions for brands in the Indian market.