Mumbai based event and brand partnership platform Onspon raised 1 crore funding from Swan Angel Network. The funding will be used to scale the company’s operations, marketing and enhance the technology backbone of the product.
Onspon connects brands with events that they can sponsor through an algorithm based on factors like target market including the geography and marketing budget of the brand. Onspon started by Hitesh Gossain, an alumnus of IIM Ahmedabad in 2012 serves more than 350+ clients like Tata Capital, Flipkart, Knorr, L&T, Mahindra, Tata Motors, Hyundai, Myntra, Adani, Nissan.
Onspon with its technology connects brands with events and helps brands to reach its customers directly through an efficient and uncluttered channel. It offers a centralized platform to engage sponsorship seekers and sponsors. The startup has presently held 9000+ events, has onboarded 12,550+ event managers, associated with 350+ brands, and has 10000 Mn+ sponsorships on the website.
One of the toughest challenge for event managers is to get sponsors for their events and for brands, its to choose the best suited event for them. India is a large market for events and its difficult for brands to find out the event suited to display their product. Startups like Onspon provides solution to these challenges. It helps connect event managers with brands and helps them both.
Yet another company competing in this space from India is Sponsifyme which is founded in 2015. Some of the notable international startups in this space include Google Ventures backed sponsorboat and sponsormyevent.
In 2014, global sponsorship spending amounted to 55.3 billion U.S. dollars. Sponsorship has slowly been increasing yearly and is projected increase to 57.5 billion U.S. dollars in 2015. The majority of the global sponsorship spending came from North America, totaling 20.6 billion U.S. dollars, followed by Europe with 14.8 billion U.S. dollars and the Asia-Pacific with 13.3 billion U.S. dollars. [Source: Statista]
How Onspon works?
Event managers can list their events with onspon. As soon as it is listed, the event is searchable and accessible to all the brands. If the brands find your event relevant, they can directly contact the event manager. Onspon charges a listing fee for premium events and for customized services to brands. Onspon will not provide the contact details of the brand sponsoring your event and they also helps you to get sponsors for charity events. You get a free URL as soon as you register your event on onspon.com – You can use that URL for sponsor pitches and to invite sponsors to view you online – giving a professional imagery.
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