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BANGALORE, India, July 29, 2021 /PRNewswire/ -- India-based Virtual Event Platform, Samaaro, has raised $125K in angel round participated by leading investors in India. Angel investors like Richa Kar, Naman Gupta and Kedar Gavane were among those who participated in the round.
Speaking about the investment, Naman Gupta, Assistant Vice President of Swiggy, said, "The market potential for Samaaro is quite high but for me, the clarity of thought, calm demeanor, sharp focus on the product and ever-smiling attitude of the founders clinched the deal. I am very excited to be onboard and join this journey with the entire team and look forward to huge success."
Samaaro was launched in 2020 by Purnank Prakash, Mayank Banka and Skandha Gopalan on the heels of the deadly pandemic that put paid to all corporate and business events across the world.
There has been a huge surge in demand for virtual event platforms since last year, and the virtual event market, currently valued at over $100 Billion, is forecasted to grow at a compounded annual growth rate of 23.2% from now to 2027. This means the virtual event platform market can be expected to be valued at $774 Billion by 2030, according to Grand View Research.
Samaaro provides a platform for organizations to host 20+ types of virtual events, including Virtual Expos, Virtual Trade Fairs, Virtual Conferences and Virtual Exhibitions for unlimited attendees. Its primary target group includes Event Management Companies, Marketing & Media Agencies, Exhibition, Fairs and Tradeshow Organizers, Large Conference Organizers, Associations, Government bodies, Higher Education Institutes, Corporates, Startups, SMBs & Enterprises.
"The events industry has changed dramatically in the last year. Virtual & hybrid event platforms have empowered organizations to launch bigger events in a much shorter timeline. I believe Samaaro is one of the game changers in the industry with a virtual event platform having endless possibilities. Their impressive list of clients proves that the team has put in solid effort to take events to the next level," added Kedar Gavane, Senior Vice President and Head - APAC of Comscore.
As per the official statement of the organization, it has already helped big brands like Cisco, Hitachi, Vodafone, host virtual events and also has a long-term collaboration with Informa Markets- the world's leading trade fair organizers in terms of revenue.
Purnank Prakash, CEO and Co-founder of Samaaro said, "Our priority in this round was to onboard investors with a strong background and varied expertise along with funds raising. I am elated that we were able to successfully achieve that."
The company plans to spend its funds towards scaling the product, hiring top-tier talent, and spreading its reach to global markets. The company also plans to expand into the Hybrid Event market in the coming months, aimed to help organizers host events that involve both live and virtual audiences.
About The Product
Samaaro is one of the very few virtual event platforms in the market that offers 3D visual capabilities, allowing organizers to replicate a live event experience and deliver an immersive event experience.
It allows clients to host highly personalized virtual events that enable them to position their brand effectively and maximize lead generation. The platform also packs powerful features such as 'Product Gallery', 'Product Finder', 'Exhibitor Booths', 'Meet Our Team' and more, that help sponsors showcase their product effectively and generate revenue.
"There is a great requirement for a virtual event platform that focuses on the needs of the Large Events Sector i.e. Large Conferences, Fairs, Exhibitions & Tradeshows. Large-scale Events mostly generate revenue through sponsorships, cross-selling, product showcasing and lead generation. This is where Samaaro creates a niche for itself; instead of focussing on generating revenue through attendees, we empower businesses to drive their growth through Virtual Events on Samaaro by generating leads for them through our deep analytics and platform features," adds Purnank.
On Samaaro, organizers have the complete freedom to pick and choose any feature and space, enabling them to customize the event as per their requirement, and host highly-personalized virtual events.
Another USP of Samaaro is its AI-powered analytics dashboard that gives organizers access to various data points. Metrics like Average Time Per User, Click Rate, Footfall, Connections Sent, Resources Downloaded are updated in real-time on an intuitive dashboard that the organizer is given access to. A detailed report with all the data and relevant insights is shared with the client once the event is done.
Growing In Popularity
In a very short period, Samaaro has made a mark in the virtual event space and is today considered one of the best virtual event platforms.
In October 2020, Samaaro was recognized as one of the Best Tech Startups in India by YourStory- India's premium publication focussed on startups and entrepreneurs. It has also been named the Top Performer in the Virtual Event Category and Product Leader on multiple review platforms.
"Our great retention rate is a testament to the fact that we sit right into the marketing stack of the brands that are using us to drive their growth. We have helped more than 100 brands globally reach out to their customers and grow their businesses in these tough times," concludes Purnank.
Samaaro is an award-winning Virtual Event Platform that was recognized as one of the 30 best and most innovative startups in India. It provides a powerful software platform designed to help organizations host scalable, secure, and effective virtual events for a global audience. Samaaro's unique features & versatility allow it to host a variety of Virtual Events such as Virtual conferences, Virtual Summits, Virtual Fairs, Virtual Exhibitions & more.