Drovo Raises £3m in Funding for Transit Media Advertising
Drovo, a transit media advertising technology company based in London, UK, has successfully raised £3m in funding through a Series A investment round. Maven Capital Partners led the funding round, with co-investors Change Ventures, Caygan Capital, Venturian, and Growthdeck also joining existing investors SEL Capital in supporting Drovo's growth strategy. The funds will be used to further develop the dynamic digital rooftop screens aspect of Drovo's offering, as well as expanding its human resources and acquiring necessary hardware.
Under the leadership of Artjom Jekimtsev, the Founder and CEO, Drovo connects vehicle owners with advertisers, allowing for targeted and measurable out-of-home (OOH) advertising campaigns through on-vehicle digital screens and wrapping.
The company's geo-targeting and programmatic capabilities enable clients to customize their messages to be displayed at the right place and time, maximizing their impact. Deliveroo, Paco Rabanne, Uniqlo, and American Express are among the companies that have already benefited from Drovo's proprietary technology, which revolutionizes transit OOH advertising by providing valuable insights into impressions, reach, and campaign success.
Drovo's technology utilizes a wide range of real-time data points, including location down to the borough, street, and vehicle level, outside temperature, footfall, and proximity to specific landmarks or stores. This level of detail allows for hyper-targeting of screen audiences and accurate tracking of real-time impressions, providing advertisers with invaluable insights into their campaign performance. Additionally, Drovo's model offers a passive income stream for vehicle operators, giving users and businesses with large commercial fleets an opportunity to earn additional revenue. This is especially beneficial for gig workers who rely on such opportunities.
They've invested in Drovo
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| # | Investor | Sector | Stage | Activity | Team | Connect |
|---|---|---|---|---|---|---|
1 |  Maven Capital Partners | 12 investment(s) investment(s) | more info | |||
2 |  Change Ventures | 1 investment(s) investment(s) | 5 contacts contacts | |||
3 |  Caygan Capital | 1 investment(s) investment(s) | more info | |||
4 |  Venturian | 1 investment(s) investment(s) | more info | |||
5 |  Growthdeck | 1 investment(s) investment(s) | more info |
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