Startup Company Adway Raises $6 Million in Seed Funding for Media-Based Advertising Network

By Thomas Price Wednesday, July 21, 2021

With media being consumed at such a fast rate, the need for more direct and creative advertising to get consumers’ attention has become increasingly necessary. Adway is an advertising startup that stands out from others through the use of new technology and street-level outreach. The company recently raised seed funding to help expand its business pursuits and onboard a larger client base as the team scales up.

Digital marketing concept.

What Makes Adway Unique and Early Success

Advertising startup Adway differentiates itself from other agencies through the use of its patented optical system involving small, smart projectors and steady display technology. The company focuses largely on street-level media instead of large campaigns or projects. For a business that wants to advertise with Adway, all the company needs are logos, images, and possibly a few moving images. From there, the advertising startup begins deploying these images into the vast network of smart projectors that are attached to cars.

The company then has the logos or moving images projected onto the side of these cars as they drive around for the day. The cars belong to both regular drivers and taxi cabs that want to make a few extra dollars throughout the day. After signing up to receive a projector to attach to the vehicle, the advertising startup will pay the drivers up to $325 per week to simply drive around with the ads playing on the side of the car.

Adway can directly track how many people are exposed to the ad through a Bluetooth data collection identifier that reports anonymous information, which shows how many people were within around a 30 feet perimeter from the ad throughout the day.

The advertising startup also uses geofencing to ensure that a business is not wasting its money by having its ads used in an area or region that has no value to them.

The company has begun garnering significant traction with larger business owners and companies as well. Furthermore, the advertising startup has now done business with Cisco, Rip Curl, Sweetfin, and ROW 8, among many others.

Adway Funding and Future Plans

In its seed funding round, Adway raised $6 million. The funding round was led by Upfront Ventures with participation from Revel Ventures, Watertower Ventures, Inflection Capital, and other smaller investors.

The advertising startup will use the new capital to work on commercializing its patented projection devices as a larger portion of the revenue generated by Adway. The company will also be gaining new business by onboarding more clients and drivers to expand its network. Adway, additionally, plans to invest in improving its projectors for larger-scale use.

When commenting on what sets the advertising startup apart from other, more established firms, Adway CEO Sasha Krylov said, “Adway's patented optical projection technology is not your typical digital display; it offers advertisers a new way to make a lasting impression at the right time, right place. We go wherever advertisers need us to be: outside shopping centers, movie theaters, sporting events, concerts and along 'main street,' ensuring street-level buzz extends into digital engagement.”

About the Author

Headshot for author Thomas Price

Tom Price is a writer focusing on Entertainment and Sports Features. He has a degree from NYU in English with a minor in Creative Writing. He has been previously published for Washington Square News, Dignitas, CBR, and Numbers on the Boards.

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