The Mumbai-based AdTech startup Wrap2Earn Technologies announced the conclusion of its recent funding round to support its expansion plans, building on its current 100% YOY growth.
Wrap2Earn is also set to launch its debut into the Digital OOH (DOOH) space by October this year, ahead of the festive season. Wrap2Earn is a street-level “moving billboard” media platform that connects advertisers with cab drivers to create on-vehicle advertising campaigns. Since its inception, the company has worked with over 55 advertisers to brand over 10,000 cabs across 16 Tier 1 & 2 cities in Pan India.
The company provides clients and advertiser partners access to an online dashboard to track their campaign performance in real-time, along with performance metrics such as the number of kilometers driven, impressions gained, and audits throughout the duration of the campaign.
Speaking on the occasion, Founder & CEO, Elmer Dsilva added, “What began as a bootstrapped operation 36 months ago has today grown to a team of over 20 passionate individuals coming together to deliver innovative and contextual advertising solutions to our branding partners. With a YOY revenue & client growth of over 100% since commencing operations in 2017, we used the brief inactive phase during Lockdown 1.0 to further strengthen the analytics we offer with our current offering and build advanced proprietary technology for a DOOH offering that we plan to announce shortly”.
He adds, “We have managed to position ourselves as one of the strongest players in the cab branding space in India and are ready to take advantage of this position. As a testament to the immense potential and growing confidence in our venture, we have received funding from investors based out of India as well as the US. We will be using the proceeds to grow our current offering more aggressively and launch a new offering in the DOOH space, which will provide our customers with unparalleled value, flexibility, and speed of execution. We believe that we are only just scratching the surface in terms of innovative cab branding solutions, and we want to re-imagine a world where cabs are not just a mode of transport but also engaging and cost-effective canvases for advertisers to tell their brand stories”.
In addition to growing and building its market share in India, the company is also exploring strategic partnerships to launch its offering abroad, to expand its presence globally.