Digital Advertising Startup AdOnMo Raises $3 Million
Media-tech startup AdOnMo, which claims to be the country's first contextually-targeted digital out-of-home (OOH) advertising firm, has raised USD 3 million (around Rs 21.4 crore) in pre-series round funding from Alibaba and others.
The funding was led by Alibaba's holding firm Ant Financial-run BAce Capital and others like Astarc Ventures and Mumbai Angels Network, the Hyderabad-based firm said in a statement on Thursday.
The company will use the fund to expand operations, acquire talent and accelerate product development.
AdOnMo brings together online and outdoor advertising. Currently, it is operational in Mumbai, Hyderabad, New Delhi, and Bengaluru.
Founded in 2017 by Sandeep Bommireddi and Sravanth Gajula, Adonmo helps advertisers reach their target audience at scale with...