 "Event & brand partnership platform Onspon raises 1 crore from Swan Angel Network")
Mumbai based startup Onspon connects brands with event organisers through an algorithm based on the demographic data of audience, geography targets of brands and marketing budgets of brands.
The company has raised Rs 1 crore from Swan Angel Network. Funds will be utilised for scaling up operations, marketing and enhancing the technology backbone of the product (Onspon.com and sub products).
''There is no revenue source for events in India apart from ticketing but the costs associated with creating high quality events are plenty and are growing by day; hence the net result being diminishing returns in the event business leading to shortage of quality events and the dispersed nature of the industry,'' said Hitesh Gossain, Founder of Onspon, an IIM Ahmedabad alumnus.
With the launch of several startups and new-age brands, requirement of associations and synergies to attain a product market fit and reach is increasing. Brands can now select which audience they want to target at what time and can use Onspon Smartboard to create a custom calendar for event association with budgets
Company is providing services to 350+ top brands like Tata Motors, Daikin, Adani, Housing.com, Mahindra Holidays, Zebronics, Nissan.