Gigstart receives seed funding from Snapdeal promoters and other investors. Gigstart owned by Alphinismo Online Ventures Pvt Ltd. Gigstart was founded by Atit Jain and Madhulika Pandey in 2013. Atit Jain is an electronics and Instrumentation Engineer and Madhulika is an Indian Classical Singer.
Through Gigstart, one can easily find an artist and book entertainment for private or public events. It is a two sided market approach facilitates both clients and artists by creating a win-win situation. The platform improves visibility of the clients irrespective their type which may be either the user or the artist.
Gigstart provide end to end solution to its clientele. The customers will be guided with various options like budget, availability, contract formalities and payment services that need to be paid to artist. The 8 member team developed booking service platforms have made it easy.
In the website, the client has set the budget limit, select the artists from the list and book the artist. On the other side, Artists does not need to market themselves and booked easily. The platform takes care of the roster for that artist so others can see it. The calendar of the artist will show that appointment for those clients who have booked them.
Gigstart will earn 10% commission from the artist without hiding it from client. All the listed artists are verified by Gigstart assures the quality level. Gigstart is exploring an opportunity to charge a listing fee to the artists and working on lead generated model.
Gigstart tapping the Indian wedding market stands at $2.5 billion per year presents wider opportunity. Indian Weddings are elaborate and glamorous in nature is known fact to the world. It presents lot of opportunities to various artists to perform during weddings and marriages due to longer duration of wedding. A crazy level of money spent on entertainment at corporate level and restaurant level on get togethers and inaugurations of new showrooms or product launches. Not at last the birthday parties which ticket a smaller amount of Rs.20, 000.
Gigstart has more than 1,800 artists in their list from varied fields like dancers, musicians, comedians and magicians on their platform at various levels of budgets to suit. The company has ambitious plan to expand to 90,000 artists in their database.
Recently in December 2015, they received $210 million seed fund from a group of investors includes Rohit Bansal and Kunal Bahl of Snapdeal, Powerhouse Ventures of USA, GSF’s Rajesh Sawhney, TA Venture holding Ltd from Ukraine, Roshan Abbas of Encompass Events and Anand Chandrasekharan from Airtel.
The funds will be utilized to build technology infrastructure, content, talent acquisition in new areas. With infusion of funds, they have officially closed seed round of funding. Fresh round of funding will be channelized by Gigstart into four broad domains. Core focus of investment would on creation of product content and promotion. Gigstart is planning to assist artists in creating video and audios for better conversion rate. Another area of focus will be on marketing and co hosting the events will be regular affair for Gigstart.
“We are pleased at having officially closed the seed round of funding. The faith of investors have shown in the venture stems from the fact that we have witnessing 30% month on month growth since our inception and the numbers have been particularly positive in the last three months.” Said Atit Jain, Co Founder of Gigstart.