Wondrlab secures $7 million in pre-series funding
India’s largest platform-first martech startup, Wondrlab, has raised $7 million in a round of pre-series funding. The round was led by Pi Ventures LLP, Tanas Capital, Prodapt Holdings and several independent investors including Priyamvada Balaji of Lucas Indian Service and Gopal Srinivasan of TVS Capital.
The startup will utilise its newly acquired funds towards driving inorganic growth, with a sharp focus on tech, digital, programmatic advertising and the building of world-class martech platforms.
For Wondrlab, the round comes at a time of great accelerated momentum. Its ambition is to be India’s first communication network with leading platform-first, and martech and platform-building capabilities. Currently, Wondrlab is one of the fasting growing startups in the country with an employee strength of 110 people and over 35 clients.
Wondrlab was founded in November 2020 by Saurabh Varma and co-founded by Vandana Verma and Rakesh Hinduja. In December 2020, it acquired What’s Your Problem, a media-agnostic, problem-solving, truly integrated creative agency founded by Amit Akali.
Speaking about the development, Saurabh Varma, Founder and Chief Executive Officer, Wondrlab, said, “We thank our investors for their faith and belief in us as a team. We have always believed in challenging the status quo. We truly believe that our differentiated strategy of being platform-first is a great value proposition for our clients. We will continue to invest in building deep capabilities across digital business transformation, content, data and marketing tech platforms. The next six months will be key to building on our incredible momentum.”
Speaking on behalf of Narotam Sekhsaria Family Office (NSFO) , Narayanan, said, “ We are excited about the vision of the team led by Saurabh Varma to create India’s first network. Their strategy of being platform first differentiates them. It is refreshing to see a world class team coming together on the back of a shared ambition”.
Speaking on behalf of Tanas Capital, Singapore, Amit Sharma, said, “The proposition is truly unique. We are excited about being a part of this journey. Wondrlab’s focus on digital communication and DBT; always being platform-first and building world-class martech products will create incredible value for clients and eventually investors.”
Malabar Capital Advisors were the bankers for the fund raise.