Posted on April 08, 2022

Adicube, an influencer-marketing platform, has raised Rs 12 crore in pre-seed funding led by Pitcherlabs Ventures and a clutch of angel investors, including Chandrahas Panigrahi, Founder Edukemy, Ashish Padiyar and Brijesh Damodaran, Founders, Auxano Capital.

Adicube said it connects influencers and brands, offering transparency in costs. It gives brands access to more than 5,000 verified influencer profiles. The platform has been accessed by Groww, Unacademy, Fampay, Edukemy, CoinSwitch Kuber and other brands to reach millions of consumers.

Adicube was founded by Sreetam Panda in May 2021 to "deliver a seamless and transparent influencer engagement experience to brands". It raised its first tranche of pre-seed five months into operations.

“It is evident that influencers and influencer marketing are here to stay. Our tech platform provides a delicious cocktail of artististic creativity and personal attention to brands at negligible margins and to influencers a platform that offers them ready demand for their expertise. With this funding we are looking to double down on our growth to emerge as the go to platform for both influencers and brands”, said Panda, CEO of Adicube.

“With the pandemic giving a boost to digital adoption, brands are increasingly seeking to harness the power of the very long tail of influencers to help drive awareness and influence purchase activity. Adicube’s platform is purpose-built to support brands in these efforts with complete transparency,” said Rahul Singh, Founder, Pitcherlabs Ventures.

India’s influencer market is expected to grow at a compound annual growth rate (CAGR) of 25% till 2025 to reach a size of Rs 2,200 crore, according to GroupM INCA’s India Influencer Marketing Report. Further, companies agree that influencers were a top priority for their marketing calendar for 2021. Nearly two-thirds of the Indian population follow an influencer.

Rahul Khandelwal, at Felix Advisory, acted as the financial advisor to the transaction. Adicube will use the capital to continue investing in its platform, and for business development.

Original article: https://www.business-standard.com/article/companies/influencer-marketing-firm-adicube-raises-rs-12-cr-in-pre-seed-funding-122022200541_1.html

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