Egypt-based ad tech dKilo secures $3.2m in seed funding round
TLDR
- Egypt-based ad tech company dKilo raised $3.2 million in seed funding at Leap 2024 conference in Riyadh.
- Funding led by Upturn Ventures and Revival Lab aims to enhance out-of-home advertising in Saudi Market.
- dKilo targets revolutionizing brand-audience engagement beyond digital platforms, offering new opportunities for e-commerce businesses.
Egypt-based ad tech company dKilo has raised $3.2 million in a seed funding round during the Leap 2024 conference, held in Riyadh. The funding was led by Upturn Ventures and Revival Lab, both specializing in e-commerce, with the primary goal of enhancing out-of-home advertising in the Saudi Market.
dKilo aims to revolutionize how brands engage with audiences, extending beyond traditional digital platforms, which opens up new avenues for e-commerce businesses. In addition, the platform seeks to establish a fresh channel for brands to interact with consumers, leveraging mobility to connect with their target audience in real-world settings.
The conclusion of the global tech event LEAP in Saudi Arabia on March 7th marked its third edition, featuring over 1,100 expert speakers.
Key Takeaways
There has been a notable surge in marketing and advertising startups across Africa in recent years. According to data from Baobab, 65% of all marketing and AdTech companies were founded during or after 2017. The integration of artificial intelligence (AI) is also increasingly prevalent within the sector, facilitating the analysis and derivation of insights into customer behaviors such as purchasing habits, as evidenced by companies like Moot Insights. AIfluence leverages AI to connect brands with relevant social media influencers, while ConvertedIn utilizes machine learning to enhance digital media campaign performance. Neural Sense, a South Africa-based AdTech firm, employs biometric data to gain deeper insights into how customers respond to advertising, indicative of the sector's innovative advancements across the continent.
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