Adonmo secures $25 Million to expand its dominance in digital outdoor advertising

(L-R):Sravanth Gajula and Sandeep Bommireddi

Adonmo, a leader in digital outdoor advertising, has raised $25 million in a funding round led by Rigel Capital and Srinath Mars. This new investment signals a pivotal moment for the company, co-founded by Sravanth Gajula and Sandeep Bommireddi, which has been at the forefront of transforming how brands engage with consumers in urban environments. 

With a growing presence across India and a focus on innovative tech solutions, Adonmo is well-positioned to redefine outdoor advertising. In an exclusive interview, Sravanth and Sandeep shared their vision for the future, reflecting on their journey and the milestones ahead. 

From pilot project to market leadership 

Adonmo’s journey began when Sravanth and Sandeep pivoted from their initial concept, TaxiDroppers, to focus on lift lobby screens in residential and commercial complexes. Starting with a small pilot project, the company quickly found success. 

“We started small, but the reception from both ends—clients and communities—was exceptional,” Sravanth shared. “Brands loved the collaboration, and the fact that we were keeping all our promises on time helped us build strong relationships.” 

Adonmo now operates 50,000 screens across 24 cities, providing advertisers with a mix of digital and static screens. These screens are installed in residential and commercial buildings, offering brands a unique platform to reach urban consumers. Adonmo works with an impressive range of brands, from industry giants like Amazon and Reliance to local schools and salons, showcasing its wide appeal. 

The $25 Million investment: Fuel for expansion 

The $25 million funding round, initially planned as a smaller bridge round, took on greater significance when Rigel Capital, a major player in Indonesia, and Srinath Mars came on board. Their involvement underscores the potential of Adonmo’s first-mover advantage in this space. 

“Rigel and Srinath Mars see enormous potential because they have witnessed similar markets flourish,” Sravanth said. “They are bullish on our growth and understand the power of our first-mover status.” 

The funds will be directed toward expanding Adonmo’s screen network and enhancing its technology platform to further improve its offerings. 

Tech-first strategy and proprietary solutions 

What sets Adonmo apart from competitors is its deep commitment to technology. Sravanth, a graduate of MIT, and Sandeep, a graduate of IIT, have been steadfast in developing proprietary technology in-house. Unlike many companies that rely on third-party algorithms, Adonmo builds and controls its own tech infrastructure. 

“From the beginning, we were a tech-first company,” Sravanth explained. “Every line of code, every algorithm was built internally.” 

This focus on innovation has allowed Adonmo to scale rapidly while maintaining quality and efficiency. The co-founders believe their in-house tech solutions are key to sustaining their competitive edge as they grow. 

In the words of Sravanth, “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.” 

Profitable growth and expansion plans 

Adonmo’s immediate goal is to double its screen network to 100,000 across 40 cities while ensuring profitability. Sravanth emphasised that Adonmo is committed to growing sustainably, reinvesting in its network without burning through cash. 

“We don’t believe in burning money for expansion. Our approach is always to ensure scalability and profitability go hand in hand,” Sravanth said. 

Sandeep echoed this sentiment, highlighting the company’s long-term vision: “We aim to become an integral part of India’s urban infrastructure, creating engaging experiences for millions of viewers every day. We’re thrilled to partner with Rigel Capital on this journey, leveraging their extensive expertise in media technology and hardware to drive our vision forward.” 

Programmatic advertising: A hybrid approach 

In terms of marketing, Adonmo has developed its own programmatic engine, enabling advertisers to automate their campaigns across its screen network. This is coupled with collaborations with external programmatic platforms, giving brands flexibility and greater reach. 

“We already have our own programmatic engine in place,” Sravanth explained. “Several clients are already using it, and we also collaborate with external partners.” 

This hybrid approach ensures Adonmo can meet the needs of a diverse client base, from large corporations to smaller, local businesses. 

Strong support from existing investors 

Despite the addition of new investors, Adonmo’s original backers remain deeply involved in the company’s growth. According to Sravanth, existing investors continue to offer valuable support through networking, strategic guidance, and market insights. 

“Many of our investors are part of quarterly discussions and offer a strong sounding board,” Sravanth said. This collaborative relationship with investors has been a crucial factor in Adonmo’s success. 

With its $25 million investment, Adonmo is poised to lead the next wave of digital outdoor advertising in India. The company’s commitment to technology, profitability, and sustainable growth positions it as a key player in the urban advertising landscape. As Sravanth and Sandeep drive the expansion of their screen network and engage millions of urban consumers, Adonmo is set to become a cornerstone of India’s urban infrastructure. 

This funding is not just a financial boost but a statement of confidence in Adonmo’s vision. With the backing of Rigel Capital and Srinath Mars, the company is ready to scale new heights, delivering powerful advertising solutions and creating impactful brand experiences across the country.