Ad-tech start-up Machadalo.com, owned by Mumbai-based Vijaikirti Technologies Pvt Ltd, has raised $175,000 (Rs 1.17 crore) in a seed round from angel investors, fund managers and IIT alumnus.
Angel investor Ajeet Khurana, who was an early investor in the company, has also participated in the current round.
Founded in June 2015 by IIT Bombay alumnus -- Nitin Jain, Anupam Sorabh, Pankaj Kandhari and Naveen Sharma -- Machadalo is a hyperlocal online advertising platform for Out Of Home (OOH) advertisers.
“The interesting part about the start-up is they map their clients’ ad inventory and uses data science to serve their advertising needs. It tracks the demography and needs of a particular catchment and help companies post relevant ads,” Khurana said, adding that the company is already earning revenues upto Rs 30 lakh a month.
Through their data-driven approach, the start-up identifies, selects and book relevant advertising spaces for its clients and help them execute efficiently without having to spend much.
Jain was working as AVP, Oyo Rooms, and had earlier co-founded Infolitics, an information research and analytics firm. Meanwhile, Kandhari has had the experience of working with Flipkart as a category analyst. Sharma was chief brand officer at online furniture store Stitchwood.