SaaS Startup Karnival Raises $250K In Seed Funding
Karnival, a Bengaluru-based SaaS customer engagement platform, has raised $250,000 in seed funding led by startup investment platform We Founder Circle (WFC).
The funding round also saw participation from marquee investors, including Krishna Kumar (Founder-Simplilearn), Shashwat Kumar (Khetal Advisors Singapore), Dravya Dholakia (Dholakia Ventures), and corporate leaders such as Dinesh Agrawal, Avnish Sabharwal, Abhay Tandon, Abhishek Kishore Gupta and Suman Das.
Founded by Siddharth Mishra, Karnival is a SaaS platform for retailers and brands to create wonderful post-purchase customer journeys using smart receipts technology.
The smart receipt is a proprietary technology of Karnival which enables post-purchase customer engagements by enabling various interactive features in-receipt. Invaluable customer profile data is collected following various guidelines like GDPR to interact at a later stage, and the customer journey is designed intelligently.
Talking about the platform, Siddharth Mishra, Founder and CEO, Karnival,
“The Indian retail industry is worth more than $1 trillion now, and we are trying to leap into a sector that big. The objective is to move from paper-based receipts to smart digital receipts to create an ecosystem keeping customer experience unique.”
Karnival’s platform is implemented with over 50 marquee retailers and brands, including Titan Company Limited, Aditya Birla Retail Limited, Lulu Group UAE, Spar Hypermarket, Fab India, and Pantaloons.
As per the company, the platform is already deployed at 5000+ stores. It is generating 4.5 million receipts a month and facilitating more than $100 million worth of transactions.
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