Adtech startup AdOnMo, backed by Zomato, has raised $25 million (approximately Rs 209 crore) in a new funding round. This round was led by Singapore-based Rigel Capital and Indonesia’s Sinar Mas, signalling strong interest in the startup’s potential to revolutionize outdoor advertising.
This funding comes on the heels of AdOnMo’s earlier $15 million Series B round in January 2022, which saw food delivery giant Zomato acquire a 19.8% stake in the Hyderabad-based company. With the latest round, AdOnMo has raised a total of $43 million since its inception.
Founded in 2017 by Sravanth and Sandeep Bommireddi, AdOnMo is focused on providing hyperlocal, data-driven advertising solutions through cloud-connected digital displays. These displays, placed in high-visibility outdoor locations, deliver real-time, targeted advertisements tailored to specific demographics and locations. The startup is expanding its digital billboard network from 50,000 to 100,000 screens across 40 Indian cities, up from its current presence in 24 cities.
AdOnMo’s technology also incorporates innovative features like dynamic creative optimization, which adapts ads in real-time based on consumer engagement, as well as social media-driven ad triggers, and QR/NFC-powered interactions for seamless offline-online integration. These capabilities allow advertisers to create highly targeted, measurable campaigns with a focus on precision and audience engagement.
With this new funding, AdOnMo plans to scale its operations and further strengthen its position as a leader in India’s out-of-home (OOH) advertising market.
