Locobuzz Solutions, a Mumbai-based digital customer experience SaaS platform, on Tuesday announced that it has secured Rs 9 crore in pre-Series A funding from Maharashtra State Social Venture Fund of SIDBI Venture Capital Ltd. The capital infusion excecise is aimed at enhancing technological capabilities of the platform, scaling up the team across functions and for marketing and sales efforts, the company said in a statement.
“This round of funding is really encouraging and we are excited to partner with SIDBI Venture for our next phase of growth,” LOcobuzz CEO Vishal Agarwal told Economic Times.
“In the next couple of months, we will direct our attention towards further product development, business growth and marketing initiatives. We will be able to offer a lot more to our client partners,” he added.
Founded in 2015 by Vishal Agarwal (CEO), Shubhi Agarwal (COO), and Nitin Agarwal (CTO), Locobuzz empowers B2C brands with real-time data analytics, consumer experience automation, consumer insights, and social media management, including publishing, listening, analytics, and engagement. The company has expanded its operations across the globe, including in Sri Lanka, Thailand, Philippines, United States, and Emirates in last five years.
Locobuzz claims to serve a series of Fortune 500 clients and has created enduring partnerships with various brands based on its product capabilities. With a team comprising 50 tech innovators, Locobuzz’s AI engine can provide rich business and customer insights on a seamless unified platform. The platform can understand 30+ global languages, process data and engage in real-time.
Commenting on the funding, Senior Fund Manager Mahendra Lodha, Vice President and CS, SIDBI Venture Capital Ltd, said, “We are happy to see Locobuzz as a leading Unified Digital Customer Experience platform, which services clients across key consumer-facing businesses. We look forward to working with Vishal and the team in Locobuzz to grow amidst a large market opportunity.”