Startup incubation platform Venture Catalysts has invested an undisclosed sum of money in customer interaction platform Jumpstart.
Some of the individual investors who contributed to the round were Rajesh Patel, Mrunal Jhaveri, Bhavesh Chaudhary and Bobby Reddy.
Jumpstart co-founder Raghav Soni said in a statement that the fresh capital would be used to boost the software-as-a-service (SaaS) startup’s market presence, with the company aiming to engage with one million businesses by 2022.
Enterprises that have used Jumpstart’s proprietary technologies have recorded up to a 40% increase in customer footfall, he claimed.
Jumpstart, co-founded by Soni and Qamar Siddiquie, helps local and small and medium enterprises optimise customer communication and engagement.
The company said it has already provided its services to more than 4,000 businesses in the retail and service segment. Soni and Siddiquie previously worked at two-wheeler marketplace CredR, with the former being the chief marketing officer and the latter working as the head of business talent acquisition.
Venture Catalysts was founded in 2015 by Apoorv Ranjan Sharma, Anil Jain, Anuj Golecha and Gaurav Jain. It typically invests between $250,000 and $1 million in early-stage startups across several sectors.
In May, Venture Catalysts invested in Rare Planet, a Kolkata-based e-commerce startup that sells handicrafts made by local artisans.
Its other recent investments include WiFi and data network aggregator EasyFi, snacks brand Keeros Foods Pvt. Ltd, online procurement platform for restaurants Adurcup and rental accommodation space provider Grexter.
In April, snacks and sweets brand Haldiram’s invested an undisclosed sum in Venture Catalysts to facilitate more investments in the packaged foods segment.