31 May 2016, India :
A Mumbai-based hyperlocal ad-tech startup, Machadalo has recently raised a seed round of US$ 175,000 from IIT alums, serial entrepreneurs, angels, and some fund managers.
Machadalo provides hyperlocal expertise in identifying the target groups for its clients. It captures around 200 data points from residential societies, non-traditional advertising spaces such as Corporate Parks, Gyms, Salons, Retail outlets, Food joints, etc.
Machadalo is an innovative startup as it has created a new category. In the space of advertising and marketing technology, Machadalo has brought in innovative inventory, proprietary metrics, data science, and management tools.
It already has customers such as NoBroker, Freshmenu, Prohandz, Narayana Group of Schools, Speedlabs, Urbanclap, and others. It went to market just a couple of months ago, and is already witnessing more than 30% month-on-month revenue growth. At the current growth rate, they will turn profitable by September 2016.
Co-founder and CEO, Nitin Jain, said, “We are looking to expand in Mumbai and gradually expand to Bangalore and Delhi NCR in a few months.”