Mumbai-based ad-tech startup Machadalo has raised $175K in a seed round of funding from IIT alums, serial entrepreneurs, angels, and some fund managers.
Founded in June 2015 by Nitin Jain, Anupam Sorabh, Pankaj Kandhari and Naveen Sharma, Machadalo aims to disrupt the space of advertising and marketing technology. The founders have varied experience in the startup space, having worked with the likes of: Flipkart, Oyo Rooms, Mu Sigma, and others.
The startup has brought proprietary metrics, data science, and management tools together to develop a hyperlocal tech platform for advertisement. Currently its clientele include NoBroker, Freshmenu, Prohandz, Narayana Group of Schools, Speedlabs, Urbanclap, etc.
Machadalo provides hyperlocal expertise in identifying the target groups for its clients. It captures around 200 data points from residential societies, non-traditional advertising spaces such as Corporate Parks, Gyms, Salons, Retail outlets, Food joints, etc.
The startup then applies business specific algorithms on the captured data from via the above data points and the data collected from digital advertising,and the insights by the client about the products and services. The algorithms help in capturing outcome based insights.
The startup will use the funding for expansion in Mumbai and new geographies, for business development and for team expansion.
Co-founder and CEO, Nitin Jain, said, “We are looking to expand in Mumbai and gradually expand to Bangalore and Delhi NCR in a few months.”
The startup is currently witnessing more than 30% month-on-month revenue growth and expects to turn profitable by September 2016.
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