Transit ad agency Rodeo has secured US$270,000 in funding via pitchIN, an equity crowdfunding platform in Malaysia. The company has onboarded 85 investors including lead investment from Fidelity Funding and from few angel investors and retail investors. According to Valens Subramaniam CEO of Rodeo, one of the key strategies that has been put in place is to reach more customers via Rodeo Home Elevators.
“Despite the pandemic, we continue to expand our ecosystem rather than riding with the flow as they are just too much of exquisite ideas out there that will be wasted if not put to use. With the fundraise, we are able to put efforts towards building and extending more revenue streams rather than sticking to just profit from the usual few medias that we use,” said Valens Subramaniam CEO of Rodeo.
Rodeo Home is a media placement inside residential building such as condominiums, and will have access over 100 condominiums within Klang Valley. With the funding, the company hopes to bring the offering to multiple locations within Malaysia.
Rodeo has been operational since 2017 and according to the company, it has "understood the necessity of media design strategies focused on the media buying experiences of clients". With that understanding, Rodeo is working towards building SuperApp that will gives bigger opportunity for every vehicle owner, media owners, partners and brand owners to leverage on Rodeo SuperApp. Moving forward, with the new funding Rodeo has sets its sight on expanding not within Malaysia but also secondary markets such as India, Australia, Philippines and Indonesia. This is not the first round fund raising that was done, with the first done in October 2020, where the company targeted to raise at least RM500,000 for its first round to increase workforce, incorporate AI technology such as computer vision and machine learning and for marketing to scale the business and capture market share.
Separately, other companies in Southeast Asia has also had success in it's fundraiser, with BigPay bagging US$100m funding to boost challenger bank position and B2B eCommerce marketplace GudangAda bagging US$100 million in a Series B funding round led by Asia Partners and Falcon Edge for team expansion across key divisions and executional capabilities, as well as building and strengthening the company's ecosystem of service offerings.
MY OOH firm Rodeo eyes at least RM500k in latest fundraising round
BigPay bags US$100m funding to boost challenger bank position in SEA
Indonesian B2B marketplace GudangAda bags US$100m in funding for team expansion
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