Adtech startup ExperientialEtc has secured USD200K in the recent seed funding round led by Startuplanes. The four-year-old startup is in the business of digital advertising using the latest technology such as holograms, augmented reality, mixed reality, immersive games and innovative tech-led OOH. To date, the company has undertaken digital and out of home campaigns for the most renowned brands ranging from automobiles to malls, FMCG to consumer durables.
According to a Statista report, the Indian digital ad market was valued at Rs 47 billion in FY 2015, soaring to Rs 199 billion in 2020. It is expected to touch approximately Rs 539 billion in 2024, similarly, global spending was valued at USD 16.27 billion in 2018 and is projected to reach USD 29.85 Billion by 2026, growing at a CAGR of 7.9 per cent from 2019 to 2026. The soaring demand spells a bright future for every Indian Adtech company. The Indian price advantage could drive a sizable portion of the business to Indian shores.
Speaking about the fund raising activity, ExperientialEtc MD and CEO Karan Bhardwaj said, “We always believed time for Adtech has arrived and now our clients are a testimony to that. We got a wonderful response at CES 2022 and our US office is getting a steady stream of inquiries. We will be looking at empanelling 20-25 big American accounts this financial year. The seed funding would be used for manpower/ research and development to be able to deliver cutting edge technology to the strong pipeline the team has created in the last three months.”
StartupLanes.com CEO Shishir Gupta, another early investor in ExperientialEtc, commented, “With more and more brands including Web 3.0 experience in their marketing communications, the potential of AR globally is immense. And Indian companies stand to gain with easy availability of coders, programmers and designers.”