Homegrown startup incubator Venture Catalysts said on Tuesday that it has invested an undisclosed amount in Jumpstart, a software-as-a-service based customer interaction platform.
Jumpstart powers local and small and micro businesses to enhance their online reviews and optimize customer communication. The platform, started in late 2017, helps location brands drive purchase decisions, brand visibility and customer experience.
Founded by Raghav Soni and Qamar Siddiquie , it helps businesses drive revenues through a three pronged solution structure of online reviews, social commerce through location-based retargeting and online word of mouth and AI-powered customer interaction that enhances the level of customer engagement.
Dr. Apoorv Sharma, Founder, Venture Catalysts, said, “Jumpstart, in its role as the facilitator of local enterprises develop a strong online presence to reach out to more consumers effectively, fits this role perfectly. It is led by two well-experienced founders and a skilled core team that knows the needs of different fast growing consumer and B2B startups well."
Venture Catalysts is a startup incubator, and generally invests $25,0000 – $1.5 million in early stage startups that have the potential to create enduring value for over a long period of time.
Beyond capital, incubators also seek to help companies with mentoring, providing business networks, community services and co-working facilities.
These incubators and accelerator programs are gaining traction in India, with US-based marquee accelerator program Y Combinator picking a record 15 companies from India this summer, a jump from its traditional 4-5 picks each year. While Y Combinator’s Indian portfolio includes online tax filing platform ClearTax and payment gateway RazorPay, globally it has been an early backer of home-sharing platform Airbnb and food delivery startup DoorDash among others.