Hubilo, an Ahmedabad-based startup which provides end-to-end event solutions to the organizers, has raised a fresh round of funding from a group of angel investors. However, the company has revealed the amount raised in this round.
The current funding round saw participation from Girish Mathrubootham, VC Karthic, Miten Mehta, Umasankar Nistala, Rakesh Patel, Akash Bhavsar, Jeevanandhan Rajagopal, Vikas Chadha, Ameet Rughani, Samad Makani, Avinash Raheja and Ashish Nanda.
The newly raised funding will primarily be used by the company for expansion to new markets and for upgrading technology. Commenting about the funding, VC Karthik, Founder at Buzzworks and investor in Hubilo, said,
Along with an innovative technology and good market opportunity, the quality, commitment and integrity of the founders and the team was one of the factors that struck the chord right with all the investors. What fuelled our interest to invest in Hubilo was the growth momentum and we were able to see the growth of the company in terms of the product, traction and team at large, during the fundraising phase itself.
Vaibhav Jain, Co-Founder & CEO of Hubilo said,
We at Hubilo aim to automate the entire process of online management of events – taking over the mundane task that the organizers will be doing manually and allowing the software to do it in an easier and much more efficient way. With a strong team and vision in focus, we target to build the largest community of the event goers by powering all the major events held across the globe.
Hubilo was founded in 2015 and was incubated at iCreate. Along with the incubation, the startup also received around Rs. 15 lakh in seed funding. Further, the company has also received scale-up grant of around Rs. 9 lakh from Government of Gujarat.
The platform has an user-friendly interface for event organiser to create, promote, sell tickets, manage and analyse a number of events effortlessly. It serves as a single platform that makes events dynamically interactive and empowers event organizers to create, promote, manage and analyze a number of events effortlessly.
The platform automates Event Website, HTML Emailers, White Label Event App, Ticketing and Networking Platform in 20 minutes which otherwise takes months for an event organiser to develop, says the company.
As per the company, the Asian market size for the event tech industry accounts for $60 billion and is growing at a significant rate of 38 % since 2006.