Digital marketing startup Logicserve raises Rs 80 crore in funding from Florintree Advisors

Logicserve Digital, certainly one of India’s largest built-in digital advertising and marketing businesses, has raised Rs 80 crore from Florintree Advisors, an alternate asset administration agency, and is already in talks to boost a sequence B spherical of round Rs 200 crore within the subsequent 3-4 months at a valuation of Rs 1,000 crore, stated Prasad Shejale, founder and CEO, Logicserve Digital.

“We’ve large plans. We’re not simply an company however a transformative platform, which is why we’re additionally rebranding the corporate as LS Digital. It’s a platform that may present manufacturers with built-in options throughout the patron’s journey,” Shejale added.

Florintree Advisors, which picked up 35% in LS Digital for its funding, has funded startups similar to ideaForge,

, Freight Tiger and FreshMenu. It’s headed by Mathew Cyriac, former MD at Blackstone.

“We’ve completed a multi-stage cope with the dedication to take a position more cash in LS Digital. We’ve given exit to a few of the secondary sellers and we’ll maintain 35% of the corporate,” stated Cyriac.

With the contemporary funding, LS Digital has acquired a majority stake in Bengaluru-headquartered digital company Langoor for an undisclosed sum.

Based in 2010 by Ruchir Punjabi and Venugopal Ganganna, Langoor has over 150 workers and presence throughout India, the Center East and Australia.

In September 2019, French communications community Havas Group acquired Langoor, however the two corporations parted methods final month as a result of a distinction in imaginative and prescient and objectives in a post-pandemic world.

“We’re the biggest impartial built-in digital company with 550 individuals. Now we’re taking a look at establishing ourselves as the worldwide chief on this area with capabilities throughout six areas – Media, UI/UX, Inventive & Communication, CX (Martech), Knowledge & Insights and Tech Improvements,” stated Shejale. “So, to try this, now we have acquired a 60% stake in CX firm Langoor in an all-cash deal. The remaining 40% we’ll purchase in money and inventory over the subsequent two years.”

To plug the gaps, the corporate can be in superior negotiations to accumulate a UI/UX company and a digital first company and can

“With all of the transactions and acquisitions, LS Digital can be a a lot bigger and extra steady firm, and we’re already seeing some inbound curiosity. So, we’ll elevate cash from third events,” Shejale stated.

LS Digital was launched in 2006, when digital was a nice-to-have medium and primarily targeted on a couple of digital channels and primarily media. Within the final 16 years, digital first manufacturers have disrupted many industries and conventional manufacturers are altering quickly to make digital their focus space.

“It is a survival battle for a lot of, and they should rework advertising and marketing with digital on the core,” Shejale stated. “And we wish to present a best-of-breed digital advertising and marketing transformation platform shaped by a number of professional corporations coming collectively. A one-stop service supplier to assist manufacturers throughout the six necessary areas.”

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