Marketing platform Maino.ai raises $1.8 million

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Digital marketing technology platform Maino.ai on June 6 said it has raised $1.8 million (about Rs 15 crore) in a funding round led by India Quotient Advisers LLP.

The investment round also saw contributions from angel investors Karan Bedi, Janhavi Parikh, and other marquee investors, the company said in a release.

A substantial portion of the funds will be allocated to building and scaling teams in key domains such as technology, product development, design, and strategy, said Rishabh Kumar, one of the three co-founders of Maino.ai.

"Additionally, we are focusing on expanding our footprint into new geographies, a strategic decision aligning with our vision to serve a broader audience and tap into new markets, thus creating additional avenues for success," he added.

The other two co-founders of the company are Vikas Keshri and Abhijeet Kunwar.

India Quotient's Partner Gagan Goyal said marketing operations and optimisations even today are heavily reliant on manual processes limiting growth, scalability and leading to a subpar ROI (Return on Investment).

"We have invested in Maino.ai as its mission is to democratise digital marketing tech for companies by providing easy-to-use products that cut down reliance on slow and largely manual third-party agencies," Goyal said.

Maino.ai said it is providing a one-stop solution for all organisational marketing needs and has gained significant traction from brands in various sectors, such as media tech, and hospitality, among others.