ProfitWheel Raises $3M in seed round
SaaS startup ProfitWheel announced on Thursday that it secured a $3 million capital raise in its seed round. Founded in 2020, the startup provides its clients with data-focused digital marketing intelligence.
Investment from Netcore Cloud, an acquisition, engagement, and retention company, and ProfitWheel’s co-founder, Vivek Bhargava, comprised 50 per cent of the raise. The rest of the $3M was acquired from angel investors including Dinesh Agarwal from Indiamart, Tie Global Board, Vallabh Bansali of Enam Group, KRS Jamwal of Tata Group, Prashant Gulati, Rizwan Koita and Jagdish Mathur of CitiusTech, Harish Bhal and Manish Vij of the Smile Group, and Jimmy Mahtani from Baring Private Equity Asia.
The ProfitWheel Team was recently joined by Aman Khanna and Gautum Mehra as co-founders alongside Vivek Bhargava. The Mumbai-based adtech startup is gearing up to utilise the funds raised to expand its tech team to improve upon the products offered, and a sales and marketing team to scale the business, according to an Inc42 article. The company is aiming to drive tech innovations and build their products in a manner that increases customer profit.
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