Hypergro.ai Secures Rs 7 Crore Seed Funding for AI-Driven Marketing Solutions
- ByStartupStory | August 21, 2023
Hypergro.ai, a marketing technology startup based in Bengaluru, has secured Rs 7 crore in seed funding led by Silverneedle Ventures, with participation from investors such as Huddle, TDV Partners, HME Ventures, Dholakia Ventures, FiiRE, and notable angel investors like Arjun Vaidya, Ankit Kedia, and Rajesh Sawhney. The startup specializes in lowering Customer Acquisition Costs (CAC) by offering cost-effective marketing solutions to brands. The funding will be directed towards enhancing its AI capabilities, refining predictive algorithms, data exploration, and automation, as well as expanding its team through talent acquisition. The company also aims to explore new markets for its product.
Founded in 2022 by Rituraj Biswas (CEO), Neha Soman (CBO), Abhijeet Kumar (CTO), and Arijit Mukhopadhyay (CPTO), Hypergro.ai aims to redefine business-customer interactions by integrating AI and User-Generated Content (UGC).
Prashant Panday, Partner at Silverneedle Ventures said, “Hypergro.ai attacks the biggest challenge facing consumer marketing companies – rising CACs. We at Silverneedle Ventures believe strongly in the power of technology in general and AI in particular. We are proud to lead this round and repose confidence in the dynamic founders of the company”.
“At Hypergro, we’re not merely witnessing the future – we’re crafting it. By merging the power of AI with the authenticity of UGC, we’re redefining the dynamics of business-customer interactions. Our mission is to make this groundbreaking shift both transformational and available to everyone,” stated Rituraj Biswas, Co-Founder & CEO of hypergro.ai.
With global digital advertising spending reaching $567.49 billion in 2022 and projected to surpass $835 billion by 2026, Hypergro.ai’s approach aligns well with the evolving marketing landscape. In India, the digital advertising market is expected to reach $5 billion in 2023, with search advertising constituting the largest segment.
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