Exclusive: AsoCon raises seed investment from Quarizon

Process management startup AsoCon Outsourcing India Pvt. Ltd. has raised an undisclosed amount of seed investment from early stage investment firm Quarizon.

"We would also be providing shared services to Quarizon's investee companies," Sanjay Nagi, the founder and chief executive of AsoCon told TechCircle.in. It is already providing services to photography venture Pictor, where Quarizon had invested last month.

The Noida-based company was established in November 2015 by Nagi, an IIT Roorkee alumnus who had previously founded Market Insight Consultants and GN Consulting.

AsoCon Outsourcing India provides services such as web development, social media operations, and provides feet on street for field work. The company has 28 employees on its roll at present.

AsoCon's clientele includes companies such as augmented reality solutions firm Rhapsody Labs, training and skill development firm Centum Learning, paediatric healthcare firm Azveston Healthcare, telecom manufacturer HFCL Group, and others.

Last week, Quarizon along with GEMS Advisory invested $235,000 (Rs 1.6 crore) in Delhi-based travel marketplace TripShelf Technologies Pvt Ltd.

Quarizon is a micro fund that invests in early-stage startups in the business-to-business-to-consumer space focused on ed-tech, IT/ITeS, clean tech and Internet of Things (IoT). It has invested Rs 12 crore in eight companies till now. Its investee companies, besides TripShelf and Pictor, include OurInitiative Media Pvt Ltd, QSR chain Chai Thela, SaaS mobile app platform Beatroute, music streaming app Streo, and Zodius Technology Fund.

Quarizon is also looking to raise between Rs 15 crore and Rs 20 crore more from friends and family to back startups, and has got a commitment of Rs 10 crore already. Quarizon plans to wrap up investments from this fund in September next year.