Jhakaas Technologies, a Mumbai-based technology-driven startup that has made a platform that helps local businesses to get online, raised a seed funding of Rs 10 Mn for its Mobile Application called ‘Jhakaas’.
The investors include some giants such as Mumbai-based management consultancy firm Stelcore Management Services Pvt. Ltd; Malini Patel, Country Manager, Bloomberg Data Services Pvt. Ltd; CP Sanadhya, Director at Housing Finance Company India Shelter Finance Pvt. Ltd; and Anjani Prasad, Managing Director at Colour and Specialty Chemicals company Archroma India.
The mobile app enables the consumer to entail the daily needs such as day-to-day needs shopping, restaurant searching, on demand sweets and cakes delivery, vegetable shopping, wine shops, ordering medicines and much more.
The app covers over 34 categories at present with over 30k merchants in the three tier one cities and it is predicted that it will grow its network to more than 0.2Mn merchants in the next half year months.
It currently functions in Banglore, Mumbai and New Delhi and it is expected to be launched in other cities by end of next quarter. There were over 5000 downloads within 24-hours of the launch of the Jhakaas app, and are expecting the consumer base to soar drastically.
The mobile application “Jhakaas” is available on both Android and iOS platform. At present, the application is properly functions in two languages — English, Hindi and is expected to come in few regional languages in the coming months too.
The Co-Founder of Jhakaas Technologies, Bharat Mandot, states,
Jhakaas as its name suggest will provide you the best possible options for all your daily needs. Such motivation shall help us grow as an organisation and help us innovate the app further more in line with the latest technological trends. The company will use the funds primarily to develop integrated IT solutions and enhance merchant awareness. Our aim is to focus on every kilometre that shall provide 300 shops so that both the parties receive 100% satisfaction for their daily requirements.
Jeetendra Sanjeeva, the other Co-Founder was cited as saying, “The world is moving towards products that entail digitalization of services, cashless transactions & technology related platforms that help them save time and resources. The small & medium scale merchants, due to limited resources are unable to meet the demands of the consumer in terms of these high-end technologies. We at Jhakaas Technologies are providing them with a platform at a fixed minimal charge to list their products & services that will in turn bring business to them. Jhakaas works on a minimum maintenance and fixed reasonable charges model with merchants so as to provide affordable and profitable deals to the vendors.”