Jhakaas, mobile app to create online presence raises 1cr

In a bid to develop integrated IT solutions and enhance merchant awareness, Jhakaas Technologies, a technology-driven platform that enables local businesses to create online presence, raised a capital of 1 crore in its first quarter of business.

The fund raised will be used for its Mobile Application called ‘Jhakaas,' which includes more than 35 categories with over 30,000 merchants in the three metros. The company is expecting the platform to grow its network to more than two lakhs merchants in the next six months.

The app is currently available in Mumbai, New Delhi and Bangalore and will soon be launched in other cities by the end of next quarter.

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.

Bharat Mandot, Co-Founder, Jhakaas Technologies, said, “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. Presently, the app is operational in two languages i.e. English, Hindi and will integrate few regional languages in the coming months too.