Accelerated by BW ACCELERATE, Delhi based offline ad network startup, AdUrCup raised its first round(undisclosed) of funding from the founders of Dineout.
AdUrCup is essentially a procurement application for Quick service restaurants-QSR. As an extension to procurement, it enables advertising on such inventory thus converting a cost center for QSR businesses, disposables, which accounts from a 5% to 12% of the bill value, into an asset.
For advertisers this works as a mechanics to deliver a hyper local personalized advertising campaigns to customers while they eat their favourite meal, or sip a preferred beverage. As a market, OOH (Out of home advertising) in India is pegged to be at INR 25 Billion, and experts suggest it to be a much bigger play vis a vis the mentioned numbers, as this is a deeply unregulated and fragmented industry.
Globally total OOH advertising revenue stood at US$36.32bn in 2014 and is set to grow at a 4.6% CAGR to reach US$45.37bn in 2019. Some of the experts further go on to suggest that applications with sharp ROI within this space will clearly have a higher absorption rate amid brands and advertisers.
Currently, operating in Delhi-NCR, this startup has acquired over 200+ QSR’s, large food delivery players, and travel food services providers, they are working to scale this model to other cities. Kushang and Abhishek, Co-Founder, AdUrCup, substantiate by saying- we are geared to expand our operations and acquisition across two of the major cities, Mumbai, Bangalore, and Ahmedabad across the next 2 months. These are exciting markets with a very strong trend of eating out.
On the advertising side, they have acquired some of the major brands, and are helping them design incisive solutions.
The first round of investment in AdUrCup has come from the founders of Dineout, a startup which was recently acquired by Times Internet. Ankit Mehrotra, Sahil, Vivek, and Nikhil have invested in their personal capacity. They also are part of the mentor panel at ACCELERATE, and have mentored this startups along with other senior professionals from Advertising industry and Technology major.
AdUrCup, is part of ACCELERATE | ENTREPRENEUR, a business acceleration initiative by BW ACCELERATE, with very strong emphasis on the industry leader participation, mentorship & business access. At ACCELERATE, AdUrCup benefitted tremendously and improved from being an idea stage startup to reaching a point of sharp business longevity and reflection.
Ankit Mehrotra, co-founder of Dineout, commented saying “ Adurcup is an automated hyperlocal advertising tool! They are creating a 1st of its kind offline ad network already reaching more than 25,000 consumers per day across Delhi NCR and more than 5,000 consumers per day on trains. They are connecting the brand to the consumer at a fraction of the cost incurred through the digital platforms, and at a, moment when the consumer has spare time. This represents an exciting opportunity for brands to interact directly with their customers. “
Ashu Agrawal, Director, BW ACCELERATE added, “ We are excited to see the progress AdUrCup has made. We believed in them and have faith, with right kind of mentors ACCELERATE has brought onboard, will serve as a strong foundation to this startup.”
He further added, it will be lovely to see this team-AdUrCup, expand into other cities soon.”
Founded on campus in January 2015, this startup by a driven team from IIT Kanpur is clearly working to make a significant impact on how this industry works!!!!