Karnival raises funding from the startup investment platform We Founder Circle (WFC). Karnival had previously raised $35,000 in the pre-seed round in 2020 from Sanjay Mehta backed 100X.VC.
Karnival is a Bengaluru-based SaaS customer engagement platform for retailers and brands to create personalized post-purchase customer journeys using smart receipts technology. Smart Receipt is a proprietary technology of Karnival which enables post-purchase customer engagements by enabling various interactive features like NPS, offers, re-targeting and marketing effectiveness. It is already deployed at 5000+ stores and is generating 4.5 million receipts a month and facilitating more than $100 million worth of transactions.
“There is always a need for constant innovation. Karnival is playing the same role in the retail sector. The Indian retail industry is worth more than $1 trillion now, and we are trying to leap into a sector that big. The objective is to move from paper-based receipts to smart digital receipts to create an ecosystem keeping customer experience unique,” said Siddharth Mishra, Founder, and CEO, Karnival.