Smart Receipt Technology
[Funding alert] SaaS startup Karnival raises $250K from We Founder Circle
Karnival had previously raised $35,000 in the pre-seed round in 2020 from Sanjay Mehta backed 100X.VC.

Startup investment platform We Founder Circle (WFC) has invested in Karnival, a Bengaluru-based SaaS customer engagement platform for retailers and brands to create personalised post-purchase customer journeys using smart receipts technology.

The seed round worth $250,000 witnessed participation from marquee investors including Neeraj Tyagi Krishna Kumar - Founder, Simplilearn, Dravya Dholakia - Dholakia Ventures, Shashwat Kumar - Khetal Advisors Singapore, and corporate leaders such as Abhay Tandon, Dinesh Agrawal, Avnish Sabharwal, Abhishek Kishore Gupta and Suman Das.

“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.

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