Bengaluru-based AdTech business Zocket has received $3 million in a seed round of funding led by Kalaari Capital. The company Zocket, which helps businesses post their digital adverts in under 30 seconds, raised $0.5 million in September of last year.
In 2021, ProfitWheel, a Mumbai-based SaaS company, earned $3 million as part of its initial funding round. The company aspires to develop a client data-driven marketing intelligence platform.
Over 2,200 of the roughly 8,200 AdTech companies globally are said to have received a stunning $21.8B in investment over the previous two years, according to sources in the field. This includes 630 Indian businesses. Moby ($217,800), Vioro ($2,15,000,000), Com Olho ($2,41,000,000), Jet Media Network ($2.5,000,000), Zocket ($3.4,000,000), and ProfitWheel ($3,000,000) are the top-funded Indian companies in CY2022. The bulk of them was between a few months and two years old when they submitted applications for fundraising rounds.
Their primary business activities include brand engagement, marketing intelligence, targeted advertising, ad fraud detection, encrypted governance, and other related areas.
Investors’ new preference seems to be the Indian adtech market. The recent hesitation of VCs to increase their investments in the Indian EduTech business coincided with the AdTech growth.
The rise in digital advertising, which has been prominent throughout the pandemic and prompted advertisers to look for more efficient technological ways to engage with clients, is responsible for this rise. Media commentators claim that the growth of e-commerce platforms has also significantly benefited India’s advertising technology industry.
