Rigel Capital and Sinar Mas have invested USD 25 million in AdOnMo, a cloud-connected digital advertising company, to support its expansion from 24 to 40 cities in India and increase its digital display network from 50,000 to 100,000 screens, capitalizing on the growing outdoor advertising market.

Information on the target

AdOnMo, founded in 2017 by Sravanth Gajula and Sandeep Bommireddi, is an innovative player in the outdoor advertising sector, specializing in cloud-connected digital screens. The company has developed a robust platform that enables highly targeted advertising campaigns, maximizing audience engagement through precision targeting and measurable return on investment (ROI). With a proprietary infrastructure that includes features such as dynamic creative optimization and QR/NFC-powered interactions, AdOnMo is positioned to revolutionize the way brands connect with consumers in outdoor environments.

Currently, AdOnMo operates in 24 cities across India, boasting over 50,000 digital displays. The recent funding round, which secured USD 25 million led by Singapore-based VC firm Rigel Capital and Indonesia-based Sinar Mas, will facilitate the company's ambitious expansion plans. The funds will be utilized to increase its operational footprint to 40 cities and scale its digital display network to 100,000 screens, aiming to reach over 30 million unique viewers.

Industry overview in the target’s specific country

The outdoor advertising industry in India is experiencing significant growth, driven by the rapid urbanization and increasing consumption of digital media. As cities expand and the population becomes more mobile, advertisers are seeking innovative