Funding Alert

Digital marketing platform Logicserve raises INR 80 cr in funding, Rebrands as LS Digital

• ByStartupStory     |    August 1, 2022

Digital marketing company Logicserve Digital announced that it had received investment from alternative asset management firm Florintree Advisors. However, the amount of financing was not disclosed. According to The Economic Times, the business raised INR 80 crore and ceded 35% of its stock to Florintree. Logicserve recently stated that the company will be renamed LS Digital.

The funds will be used to boost existing media skills and develop an inorganic development plan to expand into new markets. “Because this is such an intriguing field, our priority is to invest in existing skills and even acquire specialty firms.” “This is a multi-stage transaction with the intent to invest further cash as we move forward,” Florintree Chairman Mathew Cyriac remarked. As per The Economic Times, the business is also in discussions to seek a Series B fundraising round of around INR 200 Cr in the next three to four months, at a valuation of INR 1,000 Cr.

LS Digital also announced in a statement that it had acquired a controlling share in digital marketing firm Langoor for an undisclosed sum. Langoor will be used by the firm to better its client experience & strengthen its visibility in the fields of digital design, Metaverse, and Web3.0. “By banding together, we will be able to accomplish success on a far greater scale.” LS Digital CEO Prasad Shejale stated, “Our key focus is on digital business expansion for brands through media, creative, analytics, and insights, plus technology, whereas Langoor will focus primarily on the customer experience allowing growth for our customers.”

LS Digital, founded in 2016, is a martech firm that provides a full suite of digital marketing services such as mobile, advertising, video ads, search engine optimization (SEO), and search engine monetization (SEM). The startup also collaborates with clients to discover gaps and deploy the best technological stack for its clients. Back in 2015, the firm received a $500K investment round from a bunch of angel investors. The startup is now available in India as well as the Middle East Asia areas. WatConsult, iProspectyt, Webchutney, and Gozoop, among others, compete with the firm.

 

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