Rodeo, a Malaysian startup behind some of the creative advertisements on cars on the road, has just raised MYR 1.131 million (~US $270,000) via their equity crowdfunding (ECF) campaign.
A total of 85 investors participated in the round via Malaysian equity crowdfunding platform, pitchIN.
- Founded in 2017, Rodeo is a home-grown ad-tech company from Malaysia focused on delivering outdoor vehicle advertisements to consumers.
- Some of the investors for Rodeo's equity crowdfunding round include Fidelity Funding (venture capital firm), angel investors, and several retail investors.
- The new funding round takes the company's valuation to over RM12 million (US $2.85 million).
- The fresh funds will enable the company to expand its offerings and further diversify its product-range — one of them being "home media advertising" via advertisements in building elevators.
Why It Matters
- Rodeo reportedly has a strong clientele base serving more than 50 advertisers, with over 5,000 vehicle assets.
- Rodeo claims to have access to over 100 condominiums within the Klang Valley to deploy their home media advertising solutions — a market the company believes to be a huge one especially during the pandemic.
- In the coming years, Rodeo plans to expand beyond Malaysia to other markets such as India, Australia, The Philippines, and Indonesia.