Change Ventures invests in Drovo, a UK-based adtech startup

Drovo, a London-based programmatic transit advertising platform, has raised a £3 million Series A round. Change Ventures joined the round alongside the lead investor, Maven Capital Partners, as well as Caygan Capital, Venturian Funding & Investment Group, and Growthdeck.

• Founded in 2015, Drovo develops a proprietary software platform that pairs vehicle owners with advertisers to deliver highly targeted and measurable out-of-home (OOH) advertising and digital engagement campaigns.
• The company has a growing client base, including Deliveroo, Paco Rabanne, Uniqlo, and American Express, enabling these fleet operators to passively earn additional income while carrying out their usual business.

“The resourceful founder duo of Artjom and Jason have applied layers of novel technologies on top of what might otherwise seem like a basic business. The resulting solution is a win-win-win scalable model that brings together advertisers, fleet operators, as well as drivers and incentivises all parties to collaborate in an orchestrated manner. If we project this years into the future, it becomes evident how this could evolve into one of the largest moving media networks,”

Change Ventures comments.

• Change Ventures is one of Drovo’s investors. It is a Tallinn-based venture capital firm backing ambitious founders from the Baltics with €100,000 — 500,000 in pre-seed capital initial investments.

• Maven Capital Partners is the lead investor in Drovo. Caygan Capital , Venturian Funding & Investment Group, Growthdeck, and a league of strategic angel investors, including Dan Heron and Rob Atkinson, also participated in the funding.
• Over the last four years, Drovo has raised close to £2 million to help develop its technology and commercial proposition. This latest funding round will enable the company to scale and seize the clear market opportunity.