Mumbai: Homegrown martech startup Wondrlab has raised $ seven million in a round of pre-series funding. The round was led by Pi Ventures LLP, Tanas Capital, Prodapt Holdings and several independent investors including Priyamvada Balaji of Lucas Indian Service and Gopal Srinivasan of TVS Capital.
The startup will utilise its newly acquired funds towards driving inorganic growth, with a sharp focus on tech, digital, programmatic advertising and the building of world-class martech platforms, said the statement.
“We thank our investors for their faith and belief in us as a team. We have always believed in challenging the status quo. We truly believe that our differentiated strategy of being platform-first is a great value proposition for our clients," said Wondrlab founder and CEO Saurabh Varma. "We will continue to invest in building deep capabilities across digital business transformation, content, data and marketing tech platforms. The next six months will be key to building on our incredible momentum.”
Founded in November 2020 by Saurabh Varma and co-founded by Vandana Verma and Rakesh Hinduja, the startup acquired What’s Your Problem, a media-agnostic creative agency founded by Amit Akali in December 2020.
“We are excited about the vision of the team led by Saurabh Varma to create India’s first network. Their strategy of being platform first differentiates them. It is refreshing to see a world class team coming together on the back of a shared ambition,” said Narayanan, while speaking on behalf of Narotam Sekhsaria Family Office (NSFO).
Malabar Capital Advisors were the bankers for the fund raise.
“The proposition is truly unique. We are excited about being a part of this journey. Wondrlab’s focus on digital communication and DBT, always being platform-first and building world-class martech products will create incredible value for clients and eventually investors,” stated Amit Sharma, on behalf of Tanas Capital, Singapore.