Hyperlocal advertising technology platform
Machadalo.com, which is owned and operated by Mumbai-based Vijaikirti Technologies Pvt Ltd, has raised a seed round of $175,000 from IIT alums, serial entrepreneurs, angels, and some fund managers. Close to 18 investors have participated in the funding round. About six investors are based out of Mumbai and others are from Delhi, Hyderabad, Chennai and Bangalore.
The startup was founded in June 2015 by Nitin Jain, Anupam Sorabh, Pankaj Kandhari and Naveen Sharma. The Co-founders have lots of experience in the startup space, having worked with the likes of Flipkart, Oyo Rooms, Mu Sigma, and others.
Machadalo is an innovative startup as it has created a new category. In the space of advertising and marketing technology, Machadalo has brought in innovative inventory, proprietary metrics, data science, and management tools. It already has customers such as NoBroker, Freshmenu, Prohandz, Narayana Group of Schools, Speedlabs, Urbanclap, and others. It went to market just a couple of months ago, and is already witnessing more than 30% month-on-month revenue growth. At the current growth rate, they will turn profitable by September 2016.
Last year, the company had raised undisclosed amount from angel investor Ajeet Khurana.
About Co-founders:
Nitin Jain, Founder and CEONitin has over 12 years of experience with consulting and start-up companies.He was the co-founder of Infolitics, a knowledge services player providing information research and analytics solutions. Passionate about startups, his core strength is building high-performing teams and scaling startup operations. Nitin is a B.Tech from IIT Bombay, 2004 batch and is a big time foodie .
Anupam Sourabh, Founder and Solutions HeadAnupam started his career as a Technology and Process Consultant, and his last corporate job involved giving direction to 20,000+ students and 1,500+ employees of Sharda University and Group Institutes. In between he has been involved with startups and NGOs trying to find disparate knowledge to master his Cover Drive.
Pankaj Kandhari, Co-founder, Head GrowthPankaj is a graduate / post-graduate from IIT Mumbai in Chemical Engineering with 12 years of experience. He is an entrepreneurial person at heart and has founded a company before. He has primarily worked in the area of decision sciences (analytics) supporting Sales & Marketing, and Customer Analytics functions with companies like, ZS Associates, Mu Sigma, HP and Flipkart. During these years he has worked with senior executives of various Fortune 100 companies across Delivery, Project and Account Management roles.
Naveen Sharma, Co-founder, Chief Marketing OfficerNaveen heads the marketing efforts at Machadalo. He is also responsible for conceptualising and executing digital marketing campaign for Machadalo clients. Naveen has been a business consultant during most part of his 12 year career. He is a serial entrepreneur. He has been head of research and consulting divisions of several companies in past.
He holds graduate and post graduate degree in Chemical Engg. From IIT Bombay.
