Technology Platform Jhakaas Raises 1 Cr in Seed Funding

Jhakaas Technologies, a technology-driven platform that “Enables local businesses” to create a presence online has raised a capital of 1crore for its Mobile Application called ‘Jhakaas’.

The investors include 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.

Commenting on the occasion Bharat Mandot, Co-Founder, Jhakaas Technologies states, “Jhakaas, as its name suggest, will provide you with the best possible options for all your daily needs. Such motivation shall help us grow as an organisation and help us innovate the app furthermore 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.”

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.