Tuesday, February 27, 2024
HomeFunding UK-based Drovo Secures £3m Series A Round Funding

[Funding alert] UK-based Drovo Secures £3m Series A Round Funding

UK-based Drovo secures £3 million in series A funding. Maven Capital Partners took the lead in this round. In addition to SEL Capital, co-investors Change Ventures, Caygan Capital, Venturian, and Growthdeck are backing Drovo's expansion plans.

UK-based Drovo secures £3 million in series A funding. Maven Capital Partners took the lead in this round. In addition to SEL Capital, co-investors Change Ventures, Caygan Capital, Venturian, and Growthdeck are backing Drovo’s expansion plans.

The firm plans to use the funds to boost its hiring of staff and hardware purchase, as well as to enhance the dynamic digital rooftop screens component of its offering.

Read also – UK-based Kao Data has Funding from Legal & General Capital and Infratil

In order to deliver targeted and quantifiable out-of-home (OOH) advertising campaigns through on-car electronic displays and wrapping, Drovo works with vehicle owners and advertisers under the leadership of Artjom Jekimtsev, the company’s founder and CEO.

With the help of its geographic targeting and programmatic capabilities, businesses can tailor their message so that it is seen at the right moment in time and has the greatest effect.

Read also – Munich-based Lanes & Planes Secures $35 Million in Series B Round Funding

Deliveroo, Paco Rabanne, Uniqlo, and American Express use Drovo’s patented technology, which revolutionises transit OOH advertising through offering insights into impressions, reach, and effectiveness of campaigns.

The hyper-targeting of screen audiences and accurate monitoring of real-time impressions are made feasible by twenty-eight real-time data points, including location (down to borough, street, and vehicle level), outside temperature, foot traffic, and proximity to particular landmarks or stores.

The startup’s business plan enables vehicle operators to generate passive money, offering a second source of income for users—many of who are gig workers—and businesses with big commercial fleets.

Read also – Stockholm-based Hailey HR Raises €1.7 million in Funding

About Drovo

Drovo are prepared to make every mile have significance for our drivers, advertisers, and everyone else because they are the largest network of carbon-neutral moving media in the UK.

They are here to deliver rapid, effective out-of-home advertising for our brands. With their media assets, they improve campaign ROI by giving marketers access to the UK’s largest street-level viewership. You may monitor all of their advertising efforts in real time.

Read also – London-based Klu Secures €1.6 Million in Pre-Seed Funding

They are here to help our drivers get the majority out of their period on the road. Drivers who use Drovo can earn more money each month and offset their car’s CO2 emissions for free. All was done via their mobile app.

- Advertisement -
RELATED ARTICLES
- Advertisment -

Most Popular