Jasper Infotech to fund $2 Million to marketing firms

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Bangalore: Jasper Infotech, a New Delhi-based multi-channel direct marketing platforms company, is setting aside a $2-million corpus for 'Jasper Marketing Innovation Fund' to invest in innovative companies in the marketing services and platforms space in India. The fund would look at investments and acquisitions typically in the range of $50k-250k. The fund would be used both for investments and acquisitions. The first investment was Bangalore-based group buying company Grabbon. The company is also looking to close three more deals in this fiscal year and is currently in talks with companies. "There are gaps in India in terms of marketing innovations. The direct marketing or the marketing services space in the U.S. is a $40-billion industry where every niche has been addressed and people have built multi-billion dollar business," said Kunal Bahl, Founder and CEO of Jasper Infotech. Jasper already has a presence in 30 cities in five countries and relationships with more than 30,000 retailers across various sectors and therefore they understand the headroom for growth in this space. "We realize that we are in a position to support these entrepreneurs to get to scale, using capital as well as our knowhow and relationships. Typically these businesses do not require a lot of capital but there is a funding gap," Bahl added. Jasper, a two year old startup, is involved in implementation of marketing activities like activation, loyalty & rewards programmes, online and mobile couponing for a large number of industry leaders. It also runs SnapDeal.com, one of the largest players in the group buying space. The firm is backed by venture capital fund IndoUS Venture Partners.

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