Screen-IT, raises $250,000 in Seed Funding
Screen-IT, a Pakistan based 6-month old ad-tech startup that allows rideshare drivers to make money from advertising has secured USD 250,000 in seed funding from German firm Coeus Solutions.
Screen-IT is a new & revolutionary Dynamic Digital Out of Home Advertising platform (DD-OOH) operating in Lahore where it works with rideshare drivers and other relevant partners to install ‘Screen-IT Smart System’ in their cars to turn their rear windows into high definition displays that run targeted, geofenced advertising for brands and advertisers.
Founded by Hamza Malik, Uzair Ali, Ahmed Arif, Hassan Fazal, and Hamid Raza, Screen-IT enables advertisers to leverage the power of digital advertising in the Out of Home domain in a never before seen manner. Screen-IT with its ‘programmatic DOOH’ ads is allowing brands to transition from static messaging to automated dynamic experiences.
The funding round is led by Coues Solutions, a German tech firm, who has expressed its belief in supporting the Pakistani tech ecosystem and helping startups create an impact in Pakistan & beyond. The COO of Coeus Solutions, Ahsan Naeem, states ‘the Screen-IT concept and the team leading this project both have the potential to scale at a rapid rate and enter new territories both locally & globally.’
Screen-IT is aiming to bring-forth an eco-friendly revolution in the outdoor advertising sector with zero plastic wastage. It is estimated that yearly more than a billion rupees are spent on plastic for outdoor advertising alone in Pakistan. The founders claim their medium leads to zero plastic waste as all the ads are managed through an IoT (internet of things) based cloud system. Brands can, therefore, run campaigns according to the situation and manage different campaigns without any carbon footprint. The closest digital substitute is a very high energy-consuming SMD panel with a pretty high carbon footprint. The startup is proud to be low energy & zero plastic combos.
With this success of seed funding round, the team is motivated to expand into different markets after making their mark in the city of Lahore. Most likely Screen-IT will expand into nearby markets like Islamabad shortly however a decision is still under consideration for the next Screen-IT destination and it will be revealed soon.
Uzair Ali, COO of Screen-IT, while addressing the media claimed that in 8 – 10 weeks of operations, Screen-It has generated more than half a million rupees as payout to the driver community, therefore uplifting a relatively weaker segment of the society.
Our belief is to work for an inclusive Pakistan, with our model it’s not just the billionaire billboard owner getting richer and richer, it’s a common Uber or Careem driver who works tirelessly every day and gets a decent share out of all ads played – Uzair said.
When inquired about the safety features of the product, Uzair was glad to share that all Screen-It Smart Systems come equipped with the necessary safety features such as Speed Control which allows the motion ads to turn to static images if and when the speed of the vehicle surpasses a certain limit.
Moreover, through its highly precise geofencing technology, Screen-It ads are turned off on high-speed roads and/or highways. All these features are embedded into the Screen-It Smart System and are turned on automatically so as to eliminate the margin of human error which would have been present had the driver been tasked with the responsibility of switching ads on & off manually