India-based Virtual Event Platform, , has raised $125K in angel round participated by leading investors in India. Angel investors like Richa Kar, Naman Gupta and Kedar Gavane were among those who participated in the round.
Speaking about the investment, Naman Gupta, Assistant Vice President of Swiggy, said, "The market potential for Samaaro is quite high but for me, the clarity of thought, calm demeanor, sharp focus on the product and ever-smiling attitude of the founders clinched the deal. I am very excited to be onboard and join this journey with the entire team and look forward to huge success."
Samaaro was launched in 2020 by Purnank Prakash, Mayank Banka and Skandha Gopalan on the heels of the deadly pandemic that put paid to all corporate and business events across the world.
There has been a huge surge in demand for since last year, and the virtual event market, currently valued at over $100 Billion, is forecasted to grow at a compounded annual growth rate of 23.2% from now to 2027. This means the virtual event platform market can be expected to be valued at $774 Billion by 2030, according to Grand View Research.
Samaaro provides a platform for organizations to host 20+ types of virtual events, including Virtual Expos, , and for unlimited attendees. Its primary target group includes Event Management Companies, Marketing & Media Agencies, Exhibition, Fairs and Tradeshow Organizers, Large Conference Organizers, Associations, Government bodies, Higher Education Institutes, Corporates, Startups, SMBs & Enterprises.
"The events industry has changed dramatically in the last year. Virtual & hybrid event platforms have empowered organizations to launch bigger events in a much shorter timeline. I believe Samaaro is one of the game changers in the industry with a virtual event platform having endless possibilities. Their impressive list of clients proves that the team has put in solid effort to take events to the next level," added Kedar Gavane, Senior Vice President and Head - APAC of Comscore.
As per the official statement of the organization, it has already helped big brands like Cisco, Hitachi, , host virtual events and also has a long-term collaboration with- the world's leading trade fair organizers in terms of revenue.
Purnank Prakash, CEO and Co-founder of Samaaro said, "Our priority in this round was to onboard investors with a strong background and varied expertise along with funds raising. I am elated that we were able to successfully achieve that."
The company plans to spend its funds towards scaling the product, hiring top-tier talent, and spreading its reach to global markets. The company also plans to expand into the market in the coming months, aimed to help organizers host events that involve both live and virtual audiences.
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( With inputs from ANI )
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