Hyderabad-based adtech startup AdOnMo has successfully raised $25 million (approximately ₹209 crore) in a funding round led by Singapore-based Rigel Capital and Indonesia’s Sinar Mas. This investment will enable the company to scale its operations and enhance its presence across India.
Previous Funding and Growth Trajectory
Before this latest round, AdOnMo raised $7 million in a Series B round in March 2024, achieving a valuation of $105 million. The company has garnered interest from various existing investors and financial institutions, all supporting its ambitious expansion plans.
Plans for Expansion
With the fresh capital, AdOnMo aims to increase its operational footprint from 24 to 40 cities in India. The startup is also set to double its hyperlocal, data-driven digital advertising displays from 50,000 to 100,000 screens. “With this fundraise, we are poised to engage over 30 million urban consumers, delivering exceptional value and amplifying brand impact for our advertisers,” stated Sravanth Gajula, Co-founder of AdOnMo.
Innovative Advertising Solutions
Founded in 2017 by Sravanth Gajula and Sandeep Bommireddi, AdOnMo specializes in outdoor advertising solutions that utilize cloud-connected digital screens. This innovative infrastructure enables real-time, targeted advertisements and features such as dynamic creative optimization, social media-driven ad triggers, and QR/NFC-powered interactions.
These capabilities allow advertisers to run highly personalized campaigns that enhance audience engagement while ensuring a measurable return on investment (ROI) through a seamless integration of offline and online channels.
Zomato’s Strategic Investment
A notable backer of AdOnMo is foodtech giant Zomato, led by Deepinder Goyal. Zomato invested $15 million in the startup’s Series B funding round in early 2022, acquiring a 19.8% stake. This investment underscores Zomato’s recognition of AdOnMo’s potential to transform digital out-of-home (DOOH) advertising, enabling businesses, including Zomato itself, to adopt new customer acquisition strategies.
Industry Insights
Sebastian Togelang, founding partner at Rigel Capital, emphasized the alignment of AdOnMo’s focus on hyperlocal intelligence and advanced technological infrastructure with their cross-border synergy creation strategy. “We look forward to supporting AdOnMo as it continues to disrupt and lead the Indian DOOH advertising market,” Togelang remarked.
Conclusion
With its innovative approach to digital advertising and a robust plan for expansion, AdOnMo is well-positioned to make significant strides in the Indian advertising landscape. As the startup scales its operations and enhances its technological capabilities, it aims to redefine how brands engage with urban consumers across the country.
