SaaS Platform Karnival Raises $250,000 in Seed Funding from We Founder Circle& Other Investors
SaaS based customer engagement platform, Karnival has raised $250,000 in seed funding from We Founder Circle, a platform that invests in startups. The company had earlier raised $35,000 in the pre-seed round in 2020 from Sanjay Mehta backed 100X.VC.
The new seed round saw participation from marquee investors including Krishna Kumar- Founder, Simplilearn, Dravya Dholakia - Dholakia Ventures, Shashwat Kumar - Khetal Advisors Singapore, and corporate leaders such as Abhjay Tandon, Dinesh Agarwal, Avnish Sabharwal, Abhishek Kishore Gupta, and Suman Das.
Headquartered in Bangalore, Karnival allows retailers and brands to build personalized post-purchase customer journeys using smart receipts technology. Smart Receipt is a Karnival developed proprietary technology that enables post-purchase consumer engagements through interactive features such as NPS, deals, retargeting, and marketing effectiveness.
Aditya Birla Retail Limited, Titan Company Limited, Lulu Group UAE, Spar Hypermarket, Fab India, and Pantaloons are among the retailers and brands using Karnival's network, which was launched in 2019. It has now been installed in over 5000 stores, producing 4.5 million receipts each month and enabling over $100 million in transactions.
“There is always a need for constant innovation. Karnival is playing the same role in the retail sector. The Indian retail industry is worth more than $1 trillion now, and we are trying to leap into a sector that big. The objective is to move from paper-based receipts to smart digital receipts to create an ecosystem keeping customer experience unique,” said, Siddharth Mishra, Founder & CEO, Karnival.
“In a very short period, we have already associated with leading retailers and brands, revolutionising their procedures. We aim at associating with over 500 brands by 2021 FY end,” Siddharth added.
“Post pandemic, not only have people become more digitally equipped, but also businesses. As businesses are looking for solutions to expand, operate, manage and serve remotely, SaaS and cloud-based solutions will play a big role. Also, for this particular sector, we in India are blessed with both quality talent and economic viability. This together widens the scope for Indian startups like Karnival who are offering global solutions, to make an impact both in India and globally,” said, Neeraj Tyagi, Co-Founder & CEO, We Founder Circle.
The new seed round saw participation from marquee investors including Krishna Kumar- Founder, Simplilearn, Dravya Dholakia - Dholakia Ventures, Shashwat Kumar - Khetal Advisors Singapore, and corporate leaders such as Abhjay Tandon, Dinesh Agarwal, Avnish Sabharwal, Abhishek Kishore Gupta, and Suman Das.
Headquartered in Bangalore, Karnival allows retailers and brands to build personalized post-purchase customer journeys using smart receipts technology. Smart Receipt is a Karnival developed proprietary technology that enables post-purchase consumer engagements through interactive features such as NPS, deals, retargeting, and marketing effectiveness.
Aditya Birla Retail Limited, Titan Company Limited, Lulu Group UAE, Spar Hypermarket, Fab India, and Pantaloons are among the retailers and brands using Karnival's network, which was launched in 2019. It has now been installed in over 5000 stores, producing 4.5 million receipts each month and enabling over $100 million in transactions.
“There is always a need for constant innovation. Karnival is playing the same role in the retail sector. The Indian retail industry is worth more than $1 trillion now, and we are trying to leap into a sector that big. The objective is to move from paper-based receipts to smart digital receipts to create an ecosystem keeping customer experience unique,” said, Siddharth Mishra, Founder & CEO, Karnival.
“In a very short period, we have already associated with leading retailers and brands, revolutionising their procedures. We aim at associating with over 500 brands by 2021 FY end,” Siddharth added.
“Post pandemic, not only have people become more digitally equipped, but also businesses. As businesses are looking for solutions to expand, operate, manage and serve remotely, SaaS and cloud-based solutions will play a big role. Also, for this particular sector, we in India are blessed with both quality talent and economic viability. This together widens the scope for Indian startups like Karnival who are offering global solutions, to make an impact both in India and globally,” said, Neeraj Tyagi, Co-Founder & CEO, We Founder Circle.
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