Zuddl raises USD 13.35 Mn in Series A led by Alpha Wave Incubation and Qualcomm Ventures
PR93976
BOSTON and BENGALURU, India, Jan. 7, 2022 /PRNewswire=KYODO JBN/ --
- The fundraise will help Zuddl accelerate product development and scale
globally
Zuddl [https://www.zuddl.com/], the all-in-one platform for virtual and
hybrid events, today announced it has closed $13.35 mn in Series A funding, led
by Alpha Wave Incubation (AWI), which is backed by DisruptAD, ADQ’s venture
platform, and managed by Falcon Edge Capital, and Qualcomm Ventures LLC. The
round also saw participation from existing investors GrowX and Waveform
Ventures. The fund raised will be used to accelerate product development and
scale globally, with a particular focus on the US market.
Born in the pandemic, Zuddl was founded by Bharath Varma
[https://www.linkedin.com/in/bharath-varma91/] and Vedha Sayyaparaju
[https://www.linkedin.com/in/vedharaju/] in May 2020. The current round of
funding will be used for geographical expansion, deepen its tech team, and
further build on its offering. Zuddl grew by over 30x since its inception and
today has an enviable list of clients that include Fortune 100 and other
fast-growing enterprises such as Kellogg's, Microsoft, Dicks Sporting Goods,
BYJU'S, Grant Thornton, and NASSCOM amongst others.
"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," said Bharath Varma,
CEO and Co-founder of Zuddl. "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."
The virtual events market space is expected to grow at about 24% CAGR
[https://www.grandviewresearch.com/industry-analysis/virtual-events-market]
over the next few years according to research firm, Grand View Research. As per
LinkedIn's research, event marketers anticipate that over 65% of the events
[https://business.linkedin.com/content/dam/me/business/en-us/marketing-solutions
/resources/pdfs/virtual-events-a-new-reality-v4.pdf] in the near future, would
be either virtual or hybrid.
Zuddl's differentiation stems from its ability to deliver a high level of
event customization, and powerful attendee engagement. Event organizers are
enabled to customize every detail of their event quickly, and by themselves.
Zuddl solves for attendee engagement by using technology to power
interest-driven networking and implement gamification based on user actions.
"After being forced to go the virtual events route during the pandemic,
enterprises are now discovering the advantages of hybrid events. Zuddl, through
its hybrid-first model is tackling a unique set of problem for enterprise
events - that of bringing customizability, control and engagement to virtual
and hybrid events, without making it complicated for the event organizers. What
works to Zuddl's advantage is the fact that they are from the events industry
and understand the ground realities too well," said Anirudh Singh, Managing
Director, Alpha Wave Incubation.
"Zuddl's platform for hybrid events helps enterprises easily customize and
manage events with greater engagement," said Varsha Tagare, Sr. Director,
Qualcomm Technologies, Inc. and Managing Director at Qualcomm Ventures. "We
look forward to supporting their journey to enable new applications and
immersive experiences for the events sector using XR, AI and 5G."
"We were excited by the vision, strong expertise and speed of execution of
Zuddl's founding team. Bharath and Vedha make a well balanced and exceptionally
talented founding team. Their deep understanding of the needs of event
organizers, speakers, sponsor and above all the attendees coupled with their
product first thinking has made Zuddl offering standout in a highly crowded
space", added Manu Rikhye, Partner, GrowX Venture.
About Zuddl:
Zuddl is an all-inclusive virtual and hybrid events platform, which helps
enterprises design immersive branded experiences. Large organizations across
the globe such as Google, Dicks Sporting Goods, Microsoft, Kellogg's and Grant
Thornton trust Zuddl to host their virtual events. For more information, please
visit www.zuddl.com
About Alpha Wave Incubation
Alpha Wave Incubation (AWI) is a $300 million venture fund, backed by
DisruptAD, ADQ's venture platform and managed by Falcon Edge Capital. AWI has a
dedicated team across London, Bangalore and Abu Dhabi. The fund invests in
early-stage tech-enabled, disruptive start-ups in India and Southeast Asia. In
addition to providing outstanding founders with early-stage capital, AWI offers
access to an unrivaled set of support mechanisms for business-building, while
also helping companies expand globally and open up new markets in the GCC/MENA
region and beyond.
About DisruptAD
DisruptAD, ADQ's venture platform, was launched to accelerate the future of
innovation. The platform offers productive incubation, investment and
commercial scaling opportunities for tech start-ups in a state-of-the-art
infrastructure for a digital led age. DisruptAD aims to advance R&D and unleash
the potential of the UAE's innovative and entrepreneurial ecosystem through
highly skilled tech talent.
DisruptAD is attracting and creating a thriving community of founders, fund
managers, incubators, and accelerators to globally build, support and scale
disruptive technologies from Abu Dhabi.
About Falcon Edge Capital
Falcon Edge Capital is a diversified global alternative asset manager
co-founded in 2012 by Rick Gerson, Navroz D. Udwadia and Ryan Khoury. Falcon
Edge manages approximately $4bn in assets across public and private markets.
Falcon Edge has offices in New York, London and Bangalore. The firm offers a
variety of investment products and strategies that cover a number of asset
classes, themes and geographies.
About Qualcomm Ventures
Qualcomm Ventures, acting through Qualcomm Ventures LLC or its affiliated
entities, has been making strategic investments in technology companies that
have the potential to dramatically transform our world since 2000. As a global
investor, we look to help entrepreneurs build revolutionary businesses that
reshape the world around us. For more information please visit:
www.qualcommventures.com.
Media Contact:
Verbly Integrated Communications
Hitheshitha Mahesh
hitu@verblyinc.com
Photo: https://mma.prnewswire.com/media/1721848/Zuddl_platform.jpg
Logo: https://mma.prnewswire.com/media/1721323/Zuddl_Logo.jpg
Source: Zuddl
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