Technology platform Jhakaas raises 1 crore in seed funding

NEW DELHI: Jhakaas Technologies, a technology-driven platform that “Enables local businesses” to create a presence online raised a capital of 1 crore for its Mobile Application called ‘Jhakaas’ in its first quarter of business.

The investors include biggies 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 next generation mobile app provides for the day-to-day needs of the consumer entailing services such as grocery shopping, restaurant hunting, on call cakes and sweet delivery, vegetable shopping, wine shops, ordering medicines and much more. The app includes more than 35 categories currently with over 30,000 merchants in the three metros, and expects to grow its network to more than 2 lakhs merchants in the next six months. It’s currently available in Mumbai, New Delhi and Bangalore and soon will be launched in other cities by end of next quarter. Within 24-hours of the launch of the Jhakaas app, the company generated more than 5000 downloads and are expecting the consumer base to soar drastically.

The application is available on both Android and iOS versions. Presently, the app is operational in two languages i.e English, Hindi and will integrate few regional languages in the coming months too.
Commenting on the occasion Bharat Mandot, Co-Founder, Jhakaas Technologies 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.”