Maino.ai, a digital marketing technology provider, raised Rs 15 crore (approximately USD 1.8 million).
This investment round was led by India Quotient Advisers LLP, complemented by contributions from notable angel investors Karan Bedi, Janhavi Parikh, and other marquee investors.
Maino.ai is addressing significant challenges in digital marketing, notably the over-reliance on manual processes and the lack of cohesive coordination among various marketing channels and strategies. This often leads to inefficient ROI and missed opportunities for comprehensive campaign optimisation.
In a joint statement, Abhijeet, Rishabh, and Vikas, the co-founders of Maino.ai, commented, "We are immensely grateful to our investors for their confidence in our vision, and we are committed to judiciously leveraging this investment. A substantial portion will be allocated to building and scaling our teams in key domains such as technology, product development, design, and strategy. This approach is not just about expanding our team; it's a strategic move to enhance our capabilities and reach. Additionally, we are focusing on expanding our footprint into new geographies, a strategic decision aligning with our vision to serve a broader audience and tap into new markets, thus creating additional avenues for success."
Speaking on the investment in Maino.ai, India Quotient’s Partner Gagan Goyal, added, “Very excited to back Rishabh, Vikas & Abhijeet on their mission to democratize digital marketing tech for companies by providing an intelligent easy-to-use product that cuts down reliance on slow & largely manual third party agencies. Marketing operations and optimizations even today are heavily reliant on manual processes limiting growth, scalability & leading to a subpar ROI. The founders bring exceptional expertise and some very nuanced insights about the problem. The pain is deep & poses a huge Total Addressable Market (TAM) waiting to be unlocked.”
