AdOnMo specialises in Out of Home (OOH) advertising and has clients using its services for online and outdoor advertising.

AdOnMo raises pre-series round of 3 mn led by Ant Financials BAce Capital
Atom Funding Tuesday, February 04, 2020 - 07:38

Ant Financial’s, the investment arm of the Alibaba Group of China, entity BAce Capital, has led an investment round of $3 million in AdOnMo, a startup in the advertising space. Astarc Ventures and Mumbai Angels Network are the other two investors to have participated in this round of investment in AdOnMo.

AdOnMo specialises in Out of Home (OOH) advertising and has clients using its services for online and outdoor advertising. AdOnMo’s operations are currently limited to the cities of Mumbai, Hyderabad, New Delhi and Bengaluru. The funds now raised will be utilised for product development, building upon the existing team and for fresh recruitment of talent. The company’s operational footprint also will be sought to be expanded by using the funds now received.

Many investors with roots in India or from overseas have realigned their investment policy to focus on early stage investments in startups. They see a smaller outlay per ticket and the investments come at low valuation in the early stages. They are then able to spread their investment basket, instead of putting all their resources in a few startups chasing just valuation. BAce Capital has adopted this exact policy and its picking up AdOnMo is in line with this policy. Paytm, Zomato, Bigbasket Rapido, Healofy, Qyuki are some of the startups where BAce has made investments.  

AdOnMo has attempted to deploy the latest digital technologies in seamlessly integrating the offline and online advertising opportunities. Already, the startup counts among its customers, Amazon, Honda, EXIDE, HDFC Bank, IKEA and Reliance Digital, to mention a few. Over two years of growth journey, they have filed seven patents. AdOnMo expects to grow through its unique ideas and concepts, which it protects through its patents, seven of which it has already filed. More IP and patents are expected in the upcoming quarters, the promoters claim.

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