MeraEvents raises $1 million USD from OMICS International to fuel expansion and innovation
Indian Consumer Internet space is surely on an upswing, with more than 200 million Internet users and estimated to likely have the second-largest Internet user base in the world, and the largest in terms of incremental growth, with 330 million to 370 million Internet users in 2015 the market is here to grow.
To keep up with the growing market, MeraEvents.com has raised $1 million USD strategic round of financing from OMICS International. MeraEvents.com is currently one of India’s leading 360-degree event technology solutions provider competing with Explara and Bookmyshow.
The current investment will bolster MeraEvents’ rapid expansion, marketing, customer service and consolidate its growth as industry-leading event technology solutions provider.
MeraEvent powered 10,000+ events during 2013-14 and targets 25,000 events for 2014-15. Today, it sells more than one crore rupees worth of tickets per month and has associated with more than 13000 event organizers across the country. Currently its offers various solutions including EasyTag, Digibroc, MoozUp, and Venues.
Their growth has been driven by increased demand for events across country. Over the last few years, MeraEvents has grown its staff from 6 to well over 40, expected to reach 100+ people by end of this financial year. Building on this momentum, MeraEvents will use the funding to continue expanding its reach to other cities, accelerate product growth and innovation and invest in additional sales and marketing resources.
Speaking about the investment, Chennapa Naidu Darapaneni, Founder & CEO of MeraEvents,
This capital gives us additional resources to expand quickly and strategically into new markets, innovate rapidly, and deliver on our vision. It also helps us to raise four million USD more, which is likely to be sealed in the next six months to take MeraEvents to the next level.
Partnering with OMICS International is an additional value to the company and it gives us the Global reach and utilizing the technology of us for the 300 Scientific and Medical conferences planned by OMICS International during the year, added Naidu Darapaneni. SubbaRaju Pericherla, CEO of CrossBorders, facilitated this transaction.
Excited about the investment, Dr. Srinubabu, Managing Director & CEO of OMICS International said
As demonstrated by their remarkable growth and widespread adoption, MeraEvents clearly leads the market in the development and delivery of event technology solutions. The combination of MeraEvents’ differentiated technology, proven management team, outstanding customer base and rapid revenue growth makes them uniquely positioned to deliver on the promise of enriching the tech-experience of event industry. We look forward to supporting the company’s growth as a strategic investor.
There is a lot to innovate in this ticketing market and lets see who gets the market best.