SocioSquare from Mumbai Raises Rs. 2.2 Crores in Angel Funding from David Bell and Others
Mumbai-based social media marketing startup SocioSquare, a division of AKG Technologies Inc., has raised Rs 2.2 crores ($325K) in angel funding from David Bell, a Wharton School professor and seed investor, along with a few unnamed angel investors from the US, the UK and Turkey. Bell led the round. The funds will primarily be used for launching new social advertising products.
Gaurav Mendiratta, founder and CEO, SocioSquare, said, “Today everyone is facing common problems of return on investment (ROI) from social ads, as well as their content reaching to only a few per cent of their followers/fans. We have developed two products to solve these problems and this investment will help us take them to the market.”
SocioSquare is a full service digital marketing agency whose offerings include services like social media advertising and fan engagement, social media optimisation, analytics, search engine optimisation (SEO), and development of applications for social networking site Facebook and mobile phones. With offices in Mumbai and Delhi, the company’s clientele includes the likes of ET Travel, Zee Khana Khazana, Ditto TV, The Mobile Store, Times of India Film Awards (TOIFA) and Hokey Pokey Ice Creams, among others.
Talking about his investment, Bell said, “Effective and profitable use of social media is the ‘holy grail’ for small and large firms alike, but it’s not easy to get there. It requires the kinds of modeling and analytics that the team at SocioSquare have developed.” He has earlier invested in companies like Diapers.com (acquired by Amazon) and WarbyParker.com.