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Venture Capital | 10 January 2015

IvyCap Ventures Leads Series B Round In Ad Tech Startup Sokrati

by Sejal Mourya
IvyCap Ventures Leads Series B Round In Ad Tech Startup Sokrati
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Mumbai based IvyCap Ventures has led Series B round in ad technology and analytics startup, Sokrati. Existing investor Inventus Capital also participated in this round of funding which will be used by the five year old venture to scale up its marketing and sales efforts in the country and US.

A part of the funding will also be taken to expand its technology and big data engineering teams.

The funding gets on board Ashish Wadhwani, Managing Partner at IvyCap. Inventus had put in money in 2009 as a Series A investor.

Founded by ex-Amazon colleagues Ashish Mehta, Santosh Gannavarapu and Anubhav Sonthalia, Sokrati has built proprietary algorithms to manage performance driven marketing spends on paid search, social and display networks. The startup claims to drive over 12 million monthly visits to over 3000+ advertisers by managing over 100 million active ad entities on a real-time basis.

The Pune based company was recently inducted into the Billion Dollar Babies initiative by the Silicon Valley chapter of The Indus Entrepreneurs.

Recently online beauty and personal care retailer, Purplle.com (Purplle Wares Pvt Ltd) raised an undisclosed amount of funding from IvyCap Ventures.

IvyCap Ventures raised R244.5 Cr for its maiden fund aimed at early-growth stage ventures founded by graduates from top colleges including IIT and IIM’s.

IvyCap’s portfolio includes Women apparel brand eShakti, dental laboratories chain Leixir, Noida based Vinculum Solutions, on field team manager FieldEZ, information risk management services company, Aujas Networks, agri information service provider Reuters Market Light.

It has also started marketing for its second fund which is expected to have a corpus of INR 9,000 Mn.

Other deals in the $130 Bn digital ad space:

  • TookiTaki raised $1 Mn (c.R6 Cr) in its seed round led by Jungle Ventures, with participation from Rebright Partners and Blume Ventures.
  • GenY Medium raised an undisclosed amount of funding from MM Murugappan, Vice Chairman of Murgappa Group and BVR Mohan Reddy, Founder CMD of Infotech Enterprises.
  • Concept Communication picked up a majority stake in digital marketing agency, Liqvd Asia.
  • NLPCaptcha, a digital advertising platform owned by Simpli5d Technologies raised an undisclosed amount in pre-series A round led by YourNest Angel Fund along with the participation from Udaan Angel Partners.

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