Business Journey:
YourNest invested in Argoid, a Bangalore-based MarTech company, in late January 2021, recognising its potential to revolutionise digital commerce with AI-powered, real-time personalisation.
Our nurturance extended far beyond funding. Venkat Raju, Venture Partner, served as a dedicated mentor, providing strategic counsel and operating as a sounding board throughout Argoid’s journey.
Upon platform readiness, our partners leveraged their network to introduce Argoid to numerous potential clients, accelerating its market traction. We also collaborated closely to enhance the company’s go-to-market strategy, offering hands-on support at every stage.
We also actively facilitated the recruitment of key personnel, including critical sales positions in both the US and India, and provided invaluable operational guidance for its US market entry while maintaining the tech hub in Bangalore.
During a crucial fundraise, YourNest made introductions to key investors, significantly bolstering Argoid’s capital raising efforts. Although the company raised funds, it was inadequate to support the growth and long sales cycle averaging 6-9 months. This led to its acquisition by Amagi, a global leader in cloud-based SaaS technology for broadcast and connected TV in November 2024.
We played a decisive role in the acquisition by providing expert negotiation assistance on commercial terms and structuring the complex cross-border transactions in both the US and India.
Investment Journey:
Argoid was the 12th investment of YourNest India VC Fund II. We invested a total of
INR 108.7 mn across two funding rounds – the Pre-Series A round and Bridge to Series A round. Both rounds saw participation from our co-investor Turbostart.
In November 2024, Argoid was acquired by Amagi at valuation up to US$ 6 mn with US$ 3 mn as upfront consideration and up to US$ 3 mn as deferred consideration (dependent on revenue scale up in two years from transaction). We received sale proceeds totalling INR 80.7 mn on 9th December 2024 and 21st February 2025. YourNest made 0.74x on the overall investment, and may additionally receive deferred consideration after the 2nd anniversary of the transaction.