Jhakaas Technologies, a technology-driven platform that “Enables local businesses” to create a presence online, has raised an undisclosed amount in a pre-series A funding from a USA based investor Mr Amen Dhyllon. The motive of the fund raise is for technological enhancement and up-gradation of the application and expansion of the network throughout India.
The next generation mobile app facilitates 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 300 categories. Currently, the company has over 1,00,000 merchants, and the plan is to add 5,00,000 merchants by year end March 2018.Jhakaas is currently operating in Mumbai, New Delhi, Bangalore, Chennai, Indore, Hyderabad, Ahmadabad and Pune.
The platform is available on Android and IOS and web versions will be launching soon. Presently, the app is operational in two languages i.e English, Hindi and will integrate all regional languages.
Commenting on the occasion Bharat Mandot, Founder, Jhakaas Technologies states, “With a proper capital backing, Jhakaas can make a substantial impact on the entire retail ecosystem by adding more kirana shops and owners; we aim the unorganized market under one umbrella. As more and more merchants discover its utilities, Jhakaas is expected to grow exponentially in the near future adding a million customers in a very short span of time. The fund would also help us expand our presence in numerous states throughout India. Since Jhakaas has an innovative buisness model, by charging a fixed fee to merchants unlike other players in the market, we are sure to succeed with a strong technological back-up which would help us enhance our quality as well as level of service for the merchants.”
Earlier in the year, the company had raised Rs 1 crore (around $154,000) in seed funding from a clutch of investors including Mumbai-based management consultancy firm Stelcore Management Services Private Limited, Malini Patel, country manager, Bloomberg Data Services, CP Sanadhya, director at housing finance company India Shelter Finance, and Anjani Prasad, managing director at colour and specialty chemicals company Archroma India.
Jhakaas competes with the likes of Justdial, Goodbox, ShopX and NowFloats.
To help increase the merchant base and as a small CSR initiative on their part, Jhakaas has come up with a Digital awareness program providing technology updates to its merchants. The program aims to educate merchants on different technology enabled solutions, that merchants today have available in the market. It will help the merchants to understand the current business scenario, the role and importance of technology in today’s business environment and the various solutions available in the market. In the current competitive scenario, this program will help merchants get along the organised E-com segment.
Jhakaa is trying to link this initiative with Skill India since it is a category of training and awareness which is improving the standard of business.