PITB's startup gets $2.5 million funding from German company
LAHORE - The Germany based company Coeus Solution and Screen-It, a startup of Plan 9 under Punjab Information Technology Board (PITB) joined hands by entering into a Memorandum of Understanding (MoU) to initiate and promote a revolutionary Dynamic Digital Out of Home (DD-OOH) advertising platform that uses cutting edge technology to convert rear windows of cars into an interactive High Definition screen to display highly engaging ads of their partners here today.
Chairman PITB Azfar Manzoor, DG Sajid Latif and other officers were also present at the MoU signing ceremony.
Hamza Malik & Ahsan Naeem signed the MoU on behalf of their respective organizations. Through this collaboration, they have developed an in-house smart system that will be installed into cars and will display interactive ads. The target market is the ride-sharing community. Pakistan, like any other country in the world, has seen an undeniable surge in the ride-sharing business with the advent of Uber & Careem. It is reported that daily hundreds of cars register into ride-sharing service and globally the industry is one of the fastest-growing.
While explaining the features of the system officials said that a driver earns typically 20,000 to 25,000 PKR driving the car around. Through this inclusive economic model where we empower common man to run engaging ads, we aim to bring more people into the 15 billion PKR market of outdoor advertisement. We predict that our driver-partners will earn an extra 15,000 to 25,000 above their regular income which will take them to a decent healthy income of 60,000 plus, officials told.
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