AdOnMo, a digital advertising network, has secured $25 million in a funding round led by Rigel Capital, alongside existing investors, it announced on Wednesday.
The latest financing follows AdOnMo’s $15-million Series B in 2022, which saw participation from food delivery giant Zomato.
The company will use the fresh capital proceeds to expand its operations to 40 cities and increase its screen network to 100,000 displays, targeting more than 30 million unique viewers, it said in a statement.
Founded in 2017, AdOnMo claims to offer targeted campaigns that maximise audience engagement through precision targeting, measurable ROI, and offline-online integration. Its platform harnesses hyperlocal intelligence to place ads in geographically relevant locations, enabling advertisers to connect with their ideal audience more effectively.
AdOnMo has expanded to 24 cities, boasting over 50,000 digital displays that deliver hyperlocal, data-driven advertising solutions to brands across India.
“Ambient contextual advertising is rapidly becoming a pivotal element in brand strategy, and we are leading the charge in this transformation. With this fundraise, we are poised to engage over 30 million urban consumers, delivering exceptional value and amplifying brand impact for our advertisers,” said Sravanth Gajula, co-founder, AdOnMo.
“Their 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,” added Sebastian Togelang, founding partner of Rigel Capital.
Rigel Capital backs hyper-growth companies in emerging Asia, with a focus on Southeast Asia, India, and the Middle East. The firm covers supply chain, logistics, green mobility, e-commerce enablement, and numerous other technology verticals.
