AdTech startup Screen-IT raises $250,000 in seed funding

LAHORE: Digital advertising startup Screen-IT raised $250,000 in seed funding from Germany-based Coeus Solutions.

Screen-IT CEO Hamza Malik told Profit that Coeus Solutions has agreed to invest $250,000 in the startup. The signing ceremony was held at the Pakistan Information Technology Board (PITB) office at Arfa Karim Tower where Coeus Solutions COO Muhammad Ahsan Naeem entered into a contract with Screen-IT owners, pledging funds for the startup.

Screen-IT, which is in incubation at the Plan9 tech-incubator of the Punjab government, is the first of its kind AdTech (advertising technology) platform providing Digital Out of Home (D-OOH) advertising through the use of remote marketing technology. The startup has been in existence for a few months only.

"We launched in July 2019 and have now reached weekly revenue of Rs200,000," said Hamza.