Onspon, Mumbai based startup which helps the brand managers connect with the event organizers has raised $150K (INR 1 Cr) in Angel Round from Swan Angel Network (Group of Angel Investors from Indore). The raised funding will be used to scale up the operations along with revamping the technology and product. A part of it will also be spent on marketing and brand building.
Onspon was founded by Hitesh Gossain and it works as a marketplace platform which helps the brands find sponsors for their events in order to have a profitable event. The online platform is based on algorithms related to demography, audience, marketing budget and target of the brands and it curates the results on the basis of best match of one’s requirements.
Speaking on the development, Hitesh Gossain, Founder onspon stated that there are a lot of startups and established brands which need more visibility and at the same time, the local events do not have much of the revenue sources instead of selling stall space or the tickets of the event. The lack of funds directly impacts the quality of the events. Onspon targets the events which have that potential however lack on the resources.
The startup claims to have supported over 9000 events already and has worked with over 12,500 event managers. The number of brands associated with the portal is a whooping 350. Some of the names amongst the list of sponsors include Tata Motors, Daikin, Adani, Mahindra Holidays, Housing, Zebronics and Nissan.