Adtech startup Zocket has raised $3 Mn in a seed round of funding led by Kalaari Capital with participation from Kettleborough VC.
Zocket helps SMBs to promote their offerings across multiple digital platforms.
It plans to use the proceeds to expand the product offering, improve the brand building, bolster the team and launch its full-fledged adtech solution for the SMBs.
Founded in 2021 by second-time entrepreneurs – Karthik Venkateswaran, Nandha Kumar Ravi, Sundar Natesan, and Mukund Srivathsan, Zocket helps businesses launch their digital ads in less than 30 seconds.
It said its proprietary tech stack combines ~150 variables to generate the best ad copy, visual design, and platform for any SMB. The algorithm generates a real-time visualization of any business’ social profile based on business category, location, intended target audience profile, expected spend, and other such parameters.
The startup said its beta version has garnered 5,000+ users within a week of its launch. Initially, the product was given on an invite-only basis to more than 100+ brands to run social media ads who have seen up to ~4x to 6x return on ad spending.
Zocket’s product GoBumpr has been scaled to 10+ cities driving customer footfalls to over 5,000+ small automobile workshops. However, the startup said GoBumpr was completely acquired by a traditional automobile after-market player in 2021.
Karthik Venkateswaran, cofounder & CEO of Zocket, said, “Consumer-facing small businesses in India have been heavily reliant on online classifieds for digital discovery. With social becoming the new identity, most businesses want to have their own online presence on Facebook, Instagram & other media. This is where Zocket comes in to help these small businesses instantly create their social presence and build their brand online.”
Vani Kola, managing director of Kalaari Capital, said, “We believe the next big disruption in SMB Tech adoption will be in the digital discovery layer as business owners move up the digital hierarchy stack. We are extremely delighted to partner with Zocket as they build an end-to-end tech platform for global SMBs that help these businesses generate instant content, publish across different platforms, and optimize ad spending for the highest ROI.”
Targeting India first, Zocket said it is envisioning to take its solutions to the global SMBs and capture a large chunk of the $700 Bn+ global ad spend market.
According to the startup, there are approximately 400 Mn SMBs globally, and adtech solutions shall be at the cusp of digital disruption in all aspects for these businesses.
Two weeks back, we saw gaming and sports company, Nazara Technologies acquiring a 33% stake in adtech startup Datawrkz. The startup was founded in 2013 by Senthil Govindan and focused on accelerating user and revenue growth for clients through optimized digital advertising.
