Locobuzz Solutions, a Mumbai-based SaaS platform for consolidated digital customer experience – on Tuesday (11.05.2021) announced that it raised USD 1.3 Million in a pre-series A funding round. This round was led by the Maharashtra state social venture fund of SIDBI Venture Capital Limited (SVCL).
The startup will utilize the raised amount to upgrade its platform’s technical capabilities, scale up its team, and for sales and marketing efforts.
This Saas platform works with most of the leading brands in India across key consumer-telecom, e-commerce, automobile, FMCG, BFSI, business verticals, etc.
About the company –
Locobuzz was founded and established in 2015 by Vishal Agrawal(CEO), Nitin Agrawal(CTO) and Shubhi Agrawal (COO). Locobuzz intends to empower Business to customers (B2C) with real-time analytics of data, consumer Insight, social media, consumer experience automation and customer engagements.
Locobuzz claims to provide aid to Fortune 500 clients and has developed long-lasting partnerships with various brands based on the capability of their product’s calibre. It aids clients to streamline their customer experience processes, which leads them to have a long-lasting relationship with their customers. The company makes its clients thought leaders in their specific domain.
About Investors –
SIDBI is a venture capital firm and a small branch of the Small Industries Development Bank of India. It was founded in 1999 and is also known as SVCL. This venture capital firm focuses on investing in the early stages of a startup.
Till now, the company has raised USD 58 Million in two funding rounds and took participation in 51 investing rounds. Some of the successful investments done by the company are Annapurna Microfinance, True Elements, ZappFresh, SuperZop, Capital small finance bank and M1xchange.
Words from investor –
“We are happy to see Locobuzz as a leading Unified Digital Customer Experience platform, which services clients across key consumer-facing businesses. We look forward to working with Vishal and the team in Locobuzz to grow amidst a large market opportunity.” – Senior Fund Manager Mahendra Lodha, SIDBI Venture Capital Ltd.
Words from the CEO –
“This round of funding is really encouraging, and we are excited to partner with SIDBI Venture for our next phase of growth. In the next couple of months, we will direct our attention towards further product development, business growth, and marketing initiatives. We will be able to offer a lot more to our client partners.” – Vishal Agrawal, CEO & Co-founder Locobuzz.
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