Machadalo a Mumbai based ad-tech startup has raised $175k in its seed round of funding from a group of Angel investors. Other investors part of funding were fund managers, serial enterpreneurs and IIT alumni. The funds will be used to enhance operations and to strengthen its tech platform. It plans to expand their business to Delhi-NCR and Bangalore.
It was founded by Nitin Jain, Pankaj Kandhari, Naveen Sharma and Anupam Sorabh in 2015. It provides expertise to indentify the target groups for its clients. It collects aroiund 200 data points from residential societies, non-traditional advertising spaces such as Gyms, Corporate Parks, Salons, food joints, etc.
Nitin Jain, Pankaj Kandhari and Naveen Sharma are Alumni of IIT Bombay. Nitin was working as AVP Oyo Rooms, and also was co-founder of Infolitics, a Mumbai based analytics & information research firm. Pankaj earlier worked as category analyst in Flipkart. Naveen was Chief Brand officer at Stitchwood an online furniture store, also co-founder of Infolitics. Where as Anupam Sorabh is a Management graduate from NITIE- National Institute of Industrial Engineering and also workder as strategy and product head at MarketMate.
Machadalo clients include Freshmenu, NoBroker, Narayana Group of Schools, UrbanClap, Prohandz among others. It claims to be witnessing a growth of more than 30% revenue month on month and expected to be profitable by September 2016.
Pankaj Kandhari Co-founder of Machadalo said
“Through our data-driven approach, we can identify, select and book relevant advertising spaces for our clients and help them execute efficiently. Our technology-based solution allows clients to shortlist advertising inventory at the click of a button.”