SaaS startup Karnival raises $25000 from We Founder Circle

SaaS News -SaaS-startup-Karnival-raises-$250K-from-We-Founder-Circle(source: SaaS Industry)
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At a Glance

Karnival, a Bengaluru (India) based SaaS customer engagement platform, raised a seed round investment worth $250,000 from a Startup investment platform, We Founder Circle. In a pre-seed round investment held earlier in 2020, Karnival had raised $35000 from 100 X.VC. 

Stating that the need for innovation has always been existent, something which Karnival contributes to in the retail sector, Siddharth Mishra, Founder and CEO, Karnival, stated,

“The Indian retail industry is worth more than $1 trillion now, and we are trying to leap into this big sector. The objective is to move from paper-based receipts to smart digital receipts to create an ecosystem keeping customer experience unique.” 

Founded in 2019, Karnival has already associated itself with leading retailers and brands in a very short time. Their aim shall be to associate with over 500 brands by 2021 FY, Siddharth added. 

Making use of a Smart Receipt, which facilitates pot purchase customer engagements by providing interactive features like the NPS, offers, retargeting, and marketing effectiveness. Customer loyalty is enhanced when invaluable customer data is collected, adhering to the GDPR guidelines to create customized interactive engagement experiences for them.

Karnival platform is implemented with retailers like Aditya Birla Retail Ltd, Titan Company Ltd, Lulu Group UAE, Spar Hypermarket, Fab India, and Pantaloons.

Deployed in over 5000 stores, Karnival facilitates over $100 million worth of transactions and generates over 4.5 million receipts a month. 

Commenting on this investment, while enunciating on the necessity to become digitally equipped through SaaS and cloud-based solutions, Neeraj Tyagi, Co-founder and CEO of We Founder Circle said,

In a post-pandemic world, not only have people become more digitally equipped, but also businesses. As businesses are looking for solutions to expand, operate, manage and serve remotely, SaaS and cloud-based solutions will play a big role. Also, for this particular sector, we in India are blessed with both quality talent and economic viability. This together widens the scope for Indian startups like Karnival who are offering global solutions, to make an impact both in India and globally.”

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