Onspon.com a Mumbai based online marketplace for event sponsorship has raised $150k of Angel funding from Indore based Swan Angel Network. The funds will be utilized to enhance technology and marketing efforts, and to scale up the operations. It was founded with objective of automating process of securing access and to make sponsorship decisions for timely sponsorship.
It was founded by Hitesh Gossain. It help brands by offering them a tech platform to find sponsors and to create a well managed and profitable event. Brands are connected with event organizers through the demographic data of geography, audience, marketing budgets and targets of brands.
It has presently organised more than 9k events, more than 12,500k on boards event managers, has more than 10000 million sponsorship with more than 350 brands on the website. Brands includes Daikin, Housing.com, Tata Motors, Nissan, Zebronics and Mahindra Holidays.
With around $4 million, an event sponsorship industry is worth $56 billion. BookEventz a service provider for event planning requirements raised angel funding from Singapore Angel Network, ZIshaan Hayath and Mumbai Angels.
Hitesh Gossain, founder of Onspon, said
“There are several startups and new-age brands that require associations and synergies to attain a product/market fit and scale. Also, there is no revenue source for events in India apart from ticketing. However, the cost 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.”