Locobuzz raises 9 crores in pre-series A round from SIDBI Venture

Mumbai: Locobuzz Solutions, a Mumbai based leading Unified digital customer experience SaaS platform, today announced that it has raised 9 crores capital in a Pre-Series A round from Maharashtra State Social Venture Fund of SIDBI Venture Capital Limited (SVCL).Riemann Capital PVT Ltd, a Singapore based corporate finance and investment banking firm, is the adviser to the financing of this round.The funds will be utilized to enhance the technological capabilities of the platform, scale up the team across functions and marketing and sales efforts.

Founded in 2015 in Mumbai, Locobuzz is a SaaS platform that converges technologies such as artificial intelligence, machine learning, big data analytics, and automation. Locobuzz empowers prominent B2C brands with real-time data analytics, consumer experience automation, consumer insights, and social media management such as publishing, listening, analytics and engagement. Locobuzz works with most of the leading brands in the country across key consumer facing business verticals ranging from BFSI, Telecom, Automobile, Retail, FMCG, eCommerce, etc.

Talking about the company’s first institutional funding, Mr. Vishal Agarwal, founder, and CEO of Locobuzz said, “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.”

Commenting on the funding, Senior Fund Manager Mr. Mahendra Lodha, Vice President and CS, SIDBI Venture Capital Limited managing VC funds & AIF primarily focused on MSMEs said, “We are happy to see Locobuzz as a leading Unified Digital Customer Experience platform that 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”

Headquartered in Mumbai, Locobuzz serves a series of Fortune 500 clients and has created enduring partnerships with various brands based on its product capabilities that have completely transformed customer experience. Through innovative offerings, Locobuzz helps clients streamline their customer experience processes, leading them to create long-lasting relationships with their customers and position themselves as thought leaders in their domain.

 

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