Bangalore Based Startup Hashtaag Gets $1M in Angel Funding
According to a report by Deloitte, India is set to become the largest base of mobile app developers by 2017. Gartner has further predicted that 42% of organizations are expecting to increase spending on mobile app development by an average of 31% in 2016.
Hashtaag, a firm which builds native mobile apps & products driven through technology, has announced that it has secured USD $1 million in angel funding. Hashtaag was founded by Krishna Vemula (Kim) and Jayavardhan B N in 2015. Based in Bangalore, the firm employs over 40 mobile app developers, designers and support staff.
The startup primarily works with entrepreneurs and startups looking for high-quality mobile app development partner. Hashtaag helps companies transform their mobile businesses through product strategy consultation, UI/UX design, cross-platform development, quality assurance, deployment, and ongoing support of premium mobile and web applications.
“We are extremely thrilled to secure this funding that will enable us to hire better talent, build better products and expand operations further in India and globally. We intend to make rapid inroads in the design-led app engineering space, and with this additional funding impetus we can continue to focus on delivering the best products to meet our client’s needs with our fundamentally unique business model and value propositions,” said Kim, Chairman & Co-Founder of Hashtaag.
With more than $1 million in revenue, Hashtaag sought funding to support its rapid talent acquisition, product R&D and geographic expansion. The firm aims to reach 100+ employees by the end of 2016; in India, it has already set up additional offices in the key cities of Chennai and Mumbai and plans to expand globally. The company also has an office in San Francisco, California which caters to serial entrepreneurs in the US.
Hashtaag is the proud mobile app development partner of apps such as Doors, Shouut, Paperboy, FaceChat, Curiocty, and Logoon– all owned by popular celebrity icons and serial entrepreneurs.
“While India has been a source for less-expensive development resources for a while, we’ve seen international companies hesitating to use Indian agencies due to quality concerns. Mobile apps or technology products need premium design and development to be successful. Hashtaag is working to raise the bar in India – and around the world – in providing excellence for our clients. We are glad that investors are recognizing our potential to capture a large portion of a booming market.” said Jayavardhan B N, CEO & Co-founder, Hashtaag.
India is witnessing immense innovation in every sector and owing to the recent smartphone boom in the country, the mobile app development industry in particular is seeing huge potential and scope. According to a report by Deloitte, India is set to become the largest base of mobile app developers by 2017. Gartner has further predicted that 42% of organizations are expecting to increase spending on mobile app development by an average of 31% in 2016.