Marketing technology startup, Hypergro, has raised Rs 7 crore in seed funding through a fundraising initiative spearheaded by Silver Needle Ventures. This funding round also garnered support from players including Huddle, TDV Partners, HME Ventures, Dholakia Ventures, FiiRE, and prominent angel investors Arjun Vaidya, Ankit Kedia, and Rajesh Sawhney.
The startup's primary mission is to address prevailing challenges in digital marketing and advertising, such as escalating Customer Acquisition Costs (CAC) and Suboptimal Return on Ad Spend (ROAS). The startup achieves this through its platform, which harnesses the potential of user-generated content (UGC) while seamlessly integrating cutting-edge artificial intelligence.
Prashant Panday, Partner at Silverneedle Ventures, affirmed the significance of Hypergro's approach, stating, "Hypergro.ai tackles the significant hurdle of rising CACs faced by consumer marketing companies. We strongly believe in the power of technology, particularly AI. Leading this round underscores our confidence in the dynamic founders of the company."
Rituraj Biswas, co-founder and CEO of Hypergro, highlighted the startup's vision, saying, "At Hypergro, we're not just observing the future; we're actively shaping it. By merging AI's capabilities with the authenticity of UGC, we're revolutionising business-customer interactions."
Established in 2022 by CEO Rituraj Biswas, Chief Business Officer Neha Soman, Chief Technology Officer Abhijeet Kumar, and Chief Product and Technology Officer Arijit Mukhopadhyay, Hypergro's funding the injection will bolster its core AI capabilities and support operational expansion. A specialised team encompassing expertise in AI, machine learning, technology, product development, sales, and marketing will drive extensive data analysis, predictive algorithm enhancements, and refined automation for optimal client outcomes.
Hypergro aims to tap into untapped markets with its solutions, catering to a diverse spectrum of businesses.