Helion invests $2.2 million in JiGrahak  

BANGALORE: Helion Venture Partners today announced an investment of $2.2 million in JiGrahak Mobility Services Limited, a mobile commerce solution provider. Ashish Gupta, MD, Helion and Kanwaljit Singh, MD, Helion will join the board of directors at JiGrahak.

Helion funds will provide capital and mentoring to ‘technology-powered’ businesses in India, focusing on outsourcing, product, Internet and mobile. Helion provides multi – stage funding from the early stages of strategy formulation till the mergers and acquisitions, which ranges from $1-2 million at early stages to $8-10 million to scale up the organization.

JiGrahak will use the fund to rapidly scale up its sales and marketing efforts in India and to enhance its technology infrastructure. It launched its first product NGPay, a mobile commerce solution, a free downloadable mobile application which enables users to book flight tickets, buy movies tickets, to buy goods and services, through mobile phones in a quick and secure manner.

“NGPay has gone live and presently it has tied up with Air Deccan and SifyMall and will tie up with Inox shortly, so the end-users can avail its services,” said Sourabh Jain, CEO, JiGrahak.

One can make bill payments, recharge pre paid cards, order a pizza, or buy gifts, books, through NGPay, says Sourabh Jain.

“Investment on JiGrahak is the first significant investment and we are confident that JiGrahak’s NGPay will enable it to drive mobile commerce usage and become a market leader,” said Ashish Gupta.

With other avenues of online services available, Sourabh expressed that with mobile being the preferred mode for communication, the mobile penetration is far higher when compared to PC, internet or cyber cafes. NGPay is an end-to-end solution, which address the users requirement from ordering an item to the payment phase. It supports all kinds of Credit card and Visa. Presently it is available only on GSM networks.

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