Events startup Hubilo raises first round of funding from 12 angel investors

It makes events dynamically interactive and empowers event organisers to create, promote events effortlessly

Ahmedabad-based event tech startup Hubilo has raised an undisclosed amount of funding from 12 angel investors. Aiming to grow its client base from currently 40 to 500 in next two years, Hubilo plans to use the funds to strengthen its technology platform, sales and marketing.

Operating since February 2016, Hubilo serves as a single platform that makes events dynamically interactive and empowers event organisers to create, promote, manage and analyse a number of events effortlessly. The event tech startup 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.

Within seven months since inception, Hubilo has already generated revenue of about Rs 1 crore.

Among the 12 angel investors are Girish Mathrubootham, founder of cloud-based customer support platform Freshdesk, followed by a group of investors such as VC Karthic, Miten Mehta, Umasankar Nistala, Rakesh Patel, Akash Bhavsar, Jeevanandhan Rajagopal, Vikas Chadha, Ameet Rughani, Samad Makani, Avinash Raheja and Ashish Nanda.

Talking about the funding, Vaibhav Jain, co-founder and chief executive officer of Hubilo said, "We have completed first round of investment and out of total investment we will use 40 per cent on technology up gradation, 35 per cent on sales and marketing setup and rest of the fund will be used for incurring administrative costs."

So far, Hubilo is catering to its clients from Ahmedabad and will appoint sales and marketing persons in other cities like Delhi, Mumbai, Hyderabad, Bangalore and Chennai. It will also increase its team from current 16 persons to 33 persons by end of December.

As of now, Hubilo's major clients include Gujarat government, Andhra Pradesh government, United Nations, Ficci, CII and Nasscom.

Mayank Agarwal, co-founder and chief technology officer said, "We have currently 40 clients and we will increase our client base to 500 by end of 2018. We are also looking for overseas clients, mainly in Asia."