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Samaaro raises $125K in angel round

samaaro funding

In an angel round of funding, Samaaro, the Bengaluru-based tech startup that provides an innovative virtual event platform, has raised $125,000.

Players and angel investors like Founder of Zivame, Richa Kar, Naman Gupta, AVP of Swiggy, and Kedar Gavan, Senior VP of Comscore, along with senior executives from Google, Swiggy, Flipkart, High Radius, and Adda52 participated in the round.

Extending its reach in the market, expanding the team through key hires, and scaling the product are some of the ways this startup plans to utilize the funds.

During the 2020 pandemic, Purnank Prakash, Mayank Banka, and Skandha Gopalan launched Samaaro while crippled the trillion-dollar events industry. Their platform enables global audiences to connect over virtual mediums and helps event organizers host events. 

YourStory’s annual flagship event, TechSparks back in 2020 even awarded this as the Tech30 startups. 

The CEO and Co-founder of Samaaro, Purnank Prakash, while receiving the investment said – “Our priority in this round was to onboard investors with a strong background and varied expertise along with fundraising. I am elated that we were able to successfully achieve that.”

There has been a strong upward curve in demand for virtual event platforms since the beginning of this platform. 

According to Grand View Research, there is a forecasted annual growth rate of 23.2 percent by 2027. Currently, this virtual event market is valued at over $100 billion and is expected to rise to the scale of $774 billion. 

On the funding into Samaaro, Naman Gupta, Assistant Vice President of Swiggy, said, “The market potential for Samaaro is quite high. I am very excited to be on board and join this journey with the entire team and look forward to huge success.”

Helping organizers host events that involve both live and virtual audiences is the next target for Samaaro in the coming months. 

Virtual exhibitions for multiple sectors and other large-scale virtual events like virtual expos, virtual trade fairs, virtual conferences are a few of the 20 types of online events held by Samaaro’s platform for organizations. Global brands like Informa, Cisco, HSBC, Hitachi, Vodafone, etc., use this startup’s online platform for holding such large-scale online events. 

Richa Kar, Founder of Zivame, said, “Purnank, Mayank, and Skandha are building Samaaro with a very deep understanding of the event industry and its future transformation. Their vision and what they have done so far is very impressive and it is always inspiring to be a part of companies created by passionate, authentic founders.”

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