Newly christened LS Digital raises Rs 80 crore funding, acquires Langoor
Logicserve Digital, which has a presence in India and MEA markets, has rebranded as LS Digital
Integrated digital marketing Logicserve Digital, which is serving clients in India and MEA markets, has rebranded as LS Digital. In its new avatar as LS Digital, the company has reportedly raised Rs 80 crore funding from Florintree Advisors and has acquired a majority stake in digital-first creative agency Langoor, which was earlier part of Havas Group.
“We firmly believe that the best-of-breed, founder-driven companies with huge expertise, potential, and desire to change the Digital Marketing Transformation landscape need to come under one platform. We will call this platform “LS Digital”. It retains the legacy of our brand with 2 letters (L and S) and at the same time provides digital as a core proposition to our customers through merged entities across six areas: Media, Creative & Communication, CX, Data & Insights, Tools – Adtech & Martech and Tech Innovations," LS DIgital Founder & CEO Prasad Shejale said in a statement.
Private equity through Florintree Advisors
LS Digital has also raised private equity from Florintree Advisors, an alternative asset management firm known for funding startups such as ideaForge, Pharmeasy Wealthdesk, Freight Tiger, and FreshMenu. The funds will be utilized to build existing capabilities while also considering the inorganic route for growth.
“LS Digital and Florintree shared the desire to build a leading global company out of India. This is a very exciting space, so our focus is to invest in existing capabilities and even acquiring niche companies. It is a multi-stage deal with the commitment to infuse more funds as we move forward,” said Mathew Cyriac, Chairman, Florintree Advisors.
Langoor Digital's addition to LS Digital’s suite of digital marketing offerings
In keeping with its new vision to expand its global footprint, as a first step, LS Digital has onboarded digital-first creative agency Langoor to strengthen its service offerings for CX, digital design, and Web 3.0. Langoor adds another layer to LS Digital’s service offerings, allowing it to leverage its expertise in providing a better customer experience.
“LS Digital and Langoor share a very similar corporate vision to become an Indian global company. Coming together will enable us to achieve success on a much larger scale. Our core focus is on Digital Business growth for brands, through Media, Creative, Data & Insights, and Technology while Langoor will focus majorly on the customer experience enabling growth for our clients. Together, we will create transformative experiences for customers," Shejale said.
Langoor is a digital transformation agency that operates at the intersection of technology, creativity, and data. They take care of a brand's 360-degree digital mandate with services that include transformation consulting, marketing automation, Web 3.0 technology & creativity, web/app design & development, communications & interactive design, e-commerce build, SEO, and social media marketing.
“Digital marketing is in a constant state of change and innovation. Langoor’s DNA is about working out of the box to deliver positive business outcomes. We are delighted to join LS Digital and look forward to scale new heights," said Venugopal Ganganna, CEO, Langoor, and Girisha Gowda, Co-founder and COO, Langoor.
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