# Karnival Internet Technologies Private

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/karnival-internet-technologies-private

- Industry: Internet
- Headquarters: Bangalore, India
- Website: www.karnival.com
- Total disclosed funding: $0.2M
- Latest round: Seed (Apr 20, 2021)
- Investors on record: 3

## About

Karnival Internet Technologies, based in Bangalore, India, specializes in integrated marketing solutions that enhance customer engagement for brands across various digital platforms.Karnival Internet Technologies Private Limited was founded in 2019 in Bangalore, India. The company provides a marketing platform focused on improving customer engagement. Its founders, Himanshu Mishra, Prasenjeet Shahi, and Siddharth Mishra, have experience in entrepreneurial ventures. Karnival has completed 2 deals, with its most recent funding round occurring on April 20, 2021. During this Seed round, the company raised INR 17.59 million led by We Founder Circle, with participation from Dholakia Ventures and Vistra ITCL. The total amount raised by the company stands at INR 17.59 million, with a current valuation of INR 996.226 million.Karnival offers an integrated marketing platform designed to enhance customer engagement through various digital solutions. The core product suite includes Interactive Digital Receipts, Marketing Automation, and Loyalty Programs, aimed at improving customer experience (CX) across both physical and digital retail environments. Key functionalities encompass the ability to send digital receipts via multiple channels such as WhatsApp, SMS, and email, along with in-app push notifications through their SDK. The platform also facilitates customer insights collection, sentiment analysis, and complaints resolution, positioning itself as a comprehensive tool for brands seeking to elevate personalized marketing campaigns. Karnival serves over 210 global brands spanning 12 countries, targeting a diverse client base that includes both established retailers and emerging e-commerce businesses.Karnival's revenue generation primarily comes from subscription-based partnerships with retail brands utilizing their suite of marketing solutions. In the most recent fiscal year 2023, the company generated revenue of INR 499,314.70 with an EBITDA of INR -46,593.60. Clients engage the company for services such as custom-designed digital receipts and loyalty marketing automation, which allow for tailored customer interactions. The pricing structure is established on a per-client basis, often including tiered plans that scale with the specific needs of the business, focusing on delivering value through enhanced customer acquisition and retention strategies. Transactions typically occur through B2B arrangements, where brands leverage Karnival’s tools to drive customer engagement, increase sales, and gather actionable feedback. Notable offerings contributing to revenue include their Smart Receipt and Ratings & Reviews platforms, vital for brands looking to grow their e-commerce presence.Karnival plans to utilize the recent Seed funding of INR 17.59 million raised in April 2021 to innovate and expand its product offerings, including new features aimed at enhancing customer engagement. The company is targeting expansion into additional markets in Southeast Asia and the Middle East by the end of 2024. The funding will support product development initiatives and market entry strategies to capture new client bases. Karnival's approach includes actively seeking partnerships with local brands to facilitate entry into these regions.

## Funding rounds

- Seed, Apr 20, 2021, $0.2M — Vistra ITCL, We Founder Circle, Dholakia Ventures

## Investors

- Vistra ITCL — Seed
- We Founder Circle (https://capitalatlas.ai/funds/we-founder-circle) — Seed
- Dholakia Ventures (https://capitalatlas.ai/funds/dholakia-ventures) — Seed