Zuddl, an online event and conferencing platform, has raised $13.35 million as a part of its Series A funding round led by marquee investors including DisruptAD-backed Alpha Wave Incubation (AWI) and Qualcomm Ventures LLC.
The round also saw participation from existing investors including GrowX and Waveform Ventures.
Zuddl said that it will use the fresh funds for expanding its footprint, strengthening technology operations and boosting the products’ portfolio.
The company further claims that it has logged 30 times jump since its inception and houses clients including Kellogg's, Microsoft, Dicks Sporting Goods, BYJU'S, Grant Thornton and NASSCOM, among others.
In October 2020, Zuddl received $2 million in startup funding from Y-Combinator and GrowX.
Bharath Varma and Vedha Sayyaparaju founded the company in May 2020. The San Francisco-based startup works with large companies to help them hold online events like conferences, expos, industry gatherings, and product launches.
“Zuddl’s growth can be attributed to enterprises' need for greater customizability and control for their virtual and hybrid events. Most of our customers are global companies with remote teams, who have complex use cases that we help solve easily, all the while being on-brand,” Bharath Varma, CEO and co-founder of Zuddl said.
He added, “Attendee engagement is a critical pillar of any event - in-person or virtual. With Zuddl, we are leveraging our experience of running in-person events and using technology to solve engagement and event ROI. While the world slowly returns to normalcy, Zuddl helps enterprises abstract the complexity from virtual and hybrid events and focus on their core.”
According to Grand View Research, the virtual events market is expected to develop at a CAGR of around 24% over the next several years. According to LinkedIn's research, over 65% of upcoming events will be virtual or hybrid, according to event marketers.
Alpha Wave Incubation (AWI) is a $300 million venture fund, backed by DisruptAD, ADQ’s venture platform and managed by Falcon Edge Capital. The fund invests in early-stage tech-enabled, disruptive start-ups in India and Southeast Asia.