Total amount raised
$55.8 Millions
Latest funding date
01/01/2023
Location
Mad Street Den has successfully raised funds through multiple rounds, with the latest being a Series C round closed on January 17, 2023. The company has garnered support from notable investors, including Alpha Wave Global and Avatar Growth Capital.
Keep reading to explore the intricacies of Mad Street Den's fundraising journey and the investors backing this innovative AI platform.
What Is Mad Street Den?
Mad Street Den, founded in 2013, is a pioneering company in the fields of artificial intelligence, computer vision, and retail technology. Based in Redwood City, California, the company was established by Anand Chandrasekaran, Ashwini Asokan, and Costa Colbert.
With an employee count ranging between 251-500, Mad Street Den offers Vue.ai, an AI stack designed to provide comprehensive solutions for the retail industry. The platform enhances on-site and on-app experiences, marketing, social channels, and operational automation.
How Much Funding Has Mad Street Den Raised?
- Series C
- Amount Raised: $30M
- Date: January 2023
- Lead Investors: Avatar Growth Capital, Sequoia Capital, Alpha Wave Global
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations in various international markets and develop its financial, logistics, insurance, and retail business sectors.
- Venture Round
- Amount Raised: $4.7M
- Date: August 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and expansion efforts.
- Series B
- Amount Raised: $17M
- Date: April 2019
- Lead Investors: Alpha Wave Global
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and expansion, including the development of its AI stack Blox into new verticals.
- Venture Round
- Date: January 2019
- Lead Investors: Startup Equity Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the company's technological capabilities and support its growth.
- Series A
- Date: September 2018
- Lead Investors: KDDI
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's retail technology solutions and enhance its AI-driven platform.
- Venture Round
- Amount Raised: $2.7M
- Date: May 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's early-stage growth and development.
- Series A
- Date: August 2016
- Lead Investors: Peak XV Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the company's AI capabilities and expand its market reach.
- Seed Round
- Amount Raised: $1.5M
- Date: January 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and initial product development.
Total Amount Raised: $55.9M
Current Valuation: Not publicly disclosed
Key Investors
- Avatar Growth Capital
- Details: Avatar Growth Capital is a specialist private equity firm investing in high-growth technology and software companies. The firm has over four decades of investing experience, including 30 years at General Atlantic Partners and Goldman Sachs.
- Investment Focus Areas: High-growth technology, software companies, global digital transformation.
- Notable Investments: Not specified.
- Sequoia Capital
- Details: Sequoia Capital is a renowned venture capital firm that invests in early and growth-stage companies. The firm has extensive experience in funding and scaling technology companies globally.
- Investment Focus Areas: Technology, healthcare, consumer, financial services.
- Notable Investments: Google, Apple, WhatsApp, LinkedIn.
- Alpha Wave Global
- Details: Alpha Wave Global, formerly known as Falcon Edge Capital, is a global alternative asset manager. The firm is known for its investments in high-growth companies across various sectors.
- Investment Focus Areas: Technology, consumer, financial services.
- Notable Investments: Ola, Swiggy, PolicyBazaar.
- Global Brain
- Details: Global Brain is an independent venture capital fund based in Tokyo. The firm focuses on investing in technology startups, particularly in AI, IoT, and robotics.
- Investment Focus Areas: AI, IoT, robotics.
- Notable Investments: Not specified.
- Peak XV Partners
- Details: Peak XV Partners is a venture capital firm that invests in early-stage technology companies. The firm aims to support innovative startups and help them scale.
- Investment Focus Areas: Technology, early-stage startups.
- Notable Investments: Not specified.
What's Next for Mad Street Den?
Mad Street Den is poised for significant growth, leveraging its recent $30 million Series C funding to expand into finance, logistics, insurance, and retail sectors across the US, UK, India, the Middle East, and Latin America. The acquisition of INTURN will enhance their retail offerings, providing a robust platform for monetizing slow-moving inventory.
Future fundraising opportunities appear promising as the company continues to scale its AI platform across various industries, driven by a 100% year-over-year growth in demand. This expansion could attract further investment, enabling Mad Street Den to solidify its market presence and explore new verticals.
However, challenges such as managing rapid growth, integrating new acquisitions, and maintaining the efficacy of their AI solutions at scale could pose hurdles. Navigating these complexities will be crucial for sustaining their momentum and achieving long-term success.
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