A Mumbai based Saas platform Locobuzz Solutions, on Tuesday raised Rs 9 crore in a pre-Series A round from Maharashtra State Social Venture Fund of SIDBI Venture Capital Limited (SVCL).
The Software as a service (Saas) platform, Locobuzz will invest this freshly raised funds to enhance its product with technological capabilities, hire new talents, marketing and sales.
Vishal Agarwal (CEO), Shubhi Agarwal (COO), and Nitin Agarwal (CTO), founded, Locobuzz in 2015 which helps B2C business with real-time data analytics, consumer satisfaction experience automation, insight generation and social media management, including publishing, listening, analytics, and engagement.
The startup Locobuzz is working with most of the leading brands in the country with different business verticals from BFSI, telecom, automobile, retail, FMCG, ecommerce, etc.
The startup’s Founder and CEO Vishal Agarwal on its first institutional funding round said
“This round of funding is encouraging to work harder towards our goals and we are excited to partner with SIDBI Venture for our next phase of growth. After this round our focus will be on product development, business growth, and marketing initiatives ”.
The Saas platform, Locobuzz claims that they are currently serving many clients from Fortune 500 list and has created enduring partnerships with various brands based on its product capabilities.
Commenting on the funding, Senior Fund Manager Mahendra Lodha, Vice President and CS, SIDBI Venture Capital Ltd, said, “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.”