AdWyze raises $1 bn from Mape Advisory

AdWyze, marketing automation technology startup, has raised $1 million from investment bank Mape Advisory. The Bengaluru-based firm has built a digital marketing automation and optimization platform for enterprises and SME advertisers, who spend their advertising budget on Facebook. The company is soon going to introduce a product for Google within the next month.

"They seem to be scaling up well and we already have marquee VCs courting the firm for Series A investments. Currently they are well funded and already have their revenue engine in place; so there's no immediate plans of another fund raise”, Jacob Mathew, MD and cofounder, Mape Advisory, said.

AdWyze was founded by Arun Srinivasan, an IIM Calcutta graduate who worked earlier with Bwin Party, HostelWorld and Zivame, and Ankur Gupta, an IIT Kanpur graduate who previously worked with Google's advertising division and Walmart Labs.