Helion Invests in JiGrahak

BANGALORE, India -- Helion Venture Partners, an India-focused technology venture fund today announced an investment of $2.2 million in JiGrahak Mobility Solutions. JiGrahak is a Bangalore, India-based mobile technology company that enables mobile commerce and payments through innovative products that harness the power and ubiquity of mobile phones.

The investment will be used to rapidly scale up JiGrahak’s sales and marketing efforts in India and to enhance its technology infrastructure. Ashish Gupta and Kanwaljit Singh of Helion Ventures Pvt. Ltd. will join the board of directors at JiGrahak.

JiGrahak’s first service offering, NGPay, is a free, easily downloadable mobile application that allows users to buy goods and services through their mobile phones in a quick and secure manner. Businesses can use the NGPay platform as a new “anytime, anywhere” channel to offer their products or services, like movie tickets, flowers, books, airline tickets, gifts etc., to customers. JiGrahak’s portfolio of customers includes a leading airline, an online shopping mall, a multiplex chain and a global financial institution.

“JiGrahak is an early mover in the fast-growing mobile commerce space in India and its NGPay solution is one of the few end-to-end mobile commerce solutions available today,” said Kanwaljit Singh. “With over 100 million mobile phone users in the country, JiGrahak is really addressing a huge potential market.”

Sourabh Jain, CEO, JiGrahak said, “We are very pleased to partner with Helion in our quest to build a company that would be identified as a leader in the mobile commerce landscape in India and globally. Through Helion we have got access to a team which brings, beyond money, people with whom we can work closely while relying on their collective business experience.”

“Mobile phones are fast becoming the preferred mode for communications, entertainment, data services etc.,” said Ashish Gupta. “We are confident that NGPay’s innovative solution will enable it to drive mobile commerce usage and become a market leader.”

Helion Venture Partners