Discover how Hypergro's seed funding of ₹7 crore is transforming marketing, slashing acquisition costs and more.
In a remarkable feat for the burgeoning martech landscape, Hypergro, a Bengaluru based startup, has successfully raised ₹7 crore (approximately $1 million) in a seed funding round.
The focus of Hypergro operations lies in bolstering brand revenues while efficiently curbing customer acquisition expenses, a challenge that has been troubling marketing ventures.
Key Highlights:
- Bengaluru's Hypergro raises ₹7 crore in seed funding.
- The startup aims to optimize brand revenues and reduce customer acquisition costs.
- Silverneedle Ventures spearheads the funding round, joined by Huddle, TDV Partners, HME Ventures, Dholakia Ventures, FiiRE, and prominent angel investors.
- Hypergro's cutting-edge solution addresses the issue of escalating customer acquisition costs and suboptimal return on ad spends.
- Co-founded by Rituraj Biswas, Neha Soman, Abhijeet Kumar, and Arijit Mukhopadhyay, the startup eyes a transformative shift in the marketing landscape.
The seed funding round, orchestrated by industry trailblazers Silverneedle Ventures, marks a significant stride towards revamping the way companies approach brand augmentation and customer engagement.
Notably, Huddle, TDV Partners, HME Ventures, Dholakia Ventures, FiiRE, and a cohort of accomplished angel investors including Arjun Vaidya, Ankit Kedia, and Rajesh Sawhney, have also participated fervently in the funding endeavor.
Hypergro's emergence couldn't come at a more opportune time. In an era where customer acquisition costs have emerged as a financial black hole for enterprises, the startup strives to disrupt the norm.
The existing challenge is exacerbated by lackluster returns on advertising expenditures (ROAS), posing a significant hurdle for businesses.
Despite substantial investments in diverse advertising strategies, the intricate interplay of obstacles has entrapped brands in a disheartening cycle of high expenditures and meager outcomes.
Hypergro, however, is dedicated to untangling this complex web and presenting a feasible solution.
Prashant Panday, a distinguished partner at Silverneedle Ventures, underlined the significance of this strategic investment.
"Hypergro directly addresses the most pressing concern faced by consumer marketing entities today—escalating customer acquisition costs.
Our confidence in the potential of technology, particularly AI, is unwavering. Leading this funding round is a testament to our belief in the visionary founders of Hypergro," he stated resolutely.
Founded in the year 2022, Hypergro is the brainchild of enterprising individuals who saw a distinct need for transformation in the marketing landscape.
Rituraj Biswas, an adept CEO, spearheads the team, with Neha Soman, a luminary in the business realm, overseeing the business facet.
Abhijeet Kumar and Arijit Mukhopadhyay are integral to the startup's foundation, each contributing their unique expertise. Biswas, at the helm of the product function, guides the startup's innovative strides.
Biswas shared his fervent aspirations, stating, "Our mission encompasses a paradigm shift that is not only revolutionary but also accessible to all."
With the corporate world rapidly gravitating towards the digital realm, Hypergro is primed to cater to a burgeoning market, projected to touch a staggering $3.1 billion by 2024 in India alone.
The startup envisions a landscape where businesses thrive, brand revenues soar, and customer acquisition is streamlined.
In Summary
Hypergro's recent seed funding achievement paints a vivid picture of innovation in action. By tackling the issue of rising customer acquisition costs and suboptimal ROAS, the startup is paving the way for an industry transformation.
Spearheaded by a dynamic team and supported by a consortium of influential investors, Hypergro is poised to reshape the marketing narrative, unlocking new avenues for growth and prosperity.
0 Comments