Startup investment platform We Founder Circle (WFC) has invested in Karnival, a Bengaluru-based SaaS customer engagement platform for retailers and brands to create personalised post-purchase customer journeys using smart receipts technology.
The seed round worth $250,000 witnessed participation from marquee investors including Krishna Kumar - Founder, Simplilearn, Dravya Dholakia - Dholakia Ventures, Shashwat Kumar - Khetal Advisors Singapore, and corporate leaders such as Abhay Tandon, Dinesh Agrawal, Avnish Sabharwal, Abhishek Kishore Gupta and Suman Das.
“There is always a need for constant innovation. Karnival is playing the same role in the retail sector. The Indian retail industry is worth more than $1 trillion now, and we are trying to leap into a sector that big. The objective is to move from paper-based receipts to smart digital receipts to create an ecosystem keeping customer experience unique,” said Siddharth Mishra, Founder and CEO, Karnival.
“In a very short period, we have already associated with leading retailers and brands, revolutionising their procedures. We aim at associating with over 500 brands by 2021 FY end,” Siddharth added.
Karnival had previously raised $35,000 in the pre-Seed round in 2020 from Sanjay Mehta backed 100X.VC.