Rishabh Pant invests ₹7.4 crore in SaaS start-up TechJockey
What's the story
Indian cricketer Rishabh Pant has invested ₹7.40 crore in TechJockey.com, an online software marketplace. This investment has secured him a 2% stake in the company, effectively valuing it at approximately ₹370 crore. The start-up was established in 2017 by Akash Nangia and Arjun Mittal, former executives at Zomato and McKinsey, respectively.
Growth strategy
TechJockey.com's expansion and Pant's investment rationale
TechJockey.com, which serves as a bridge between software vendors and small businesses in India, has recently extended its operations to the US. Pant's decision to invest in the company was influenced by his professional cricket career. He stated, "In cricket, having the right technology for live streaming, commentary, and DRS is crucial. The right tools help make smart decisions."
Future prospects
TechJockey.com's plans for Pant's investment
TechJockey.com plans to utilize Pant's investment to boost its marketing efforts and expand its presence in the US market. The company also aims to increase the number of global sellers on its platform. In FY24, TechJockey reported a revenue of ₹125 crore with ad sales contributing ₹7-10 crore, and the rest coming from margins charged to sellers. The firm is targeting a revenue range of ₹170-180 crore in FY25, driven by its global expansion strategy.