India's First Consumer to Business Messaging Platform Akosha Raises Fund

Bangalore: New Delhi based online messaging platform for consumer to business interactions, Akosha raises Rs.100 crore in Series B round of funding led by Sequoia Capital. The fund will be utilized to hire over 200 software engineers and product managers in order to build out the platform. The fund will also be used in exponential growth of Akosha’s new mobile app.

Founded in 2009 by Ankur Singla, Akosha.com is a horizontal platform for all consumers to business interactions. Since inception, the firm has assisted customers to connect with businesses by using an Akosha mobile app, dedicated to customer care helpline and website.  Claims to have over 350 employees in three offices in India, the firm handle 30,000 plus consumer inquiries every day over the web, telephone and its Android chat app. The firm also claims to receive over 40,00,000 consumer queries across sectors, including telecom, consumer appliances, e-Commerce, mobile, banking and insurance in 2014.

Speaking about the company, Ankur Singla, CEO, Akosha says, “We started 4 years ago to help consumers with post purchase issues. With the growth of mobile, we aim at building a messaging platform for all interactions between consumers and businesses including discovery, buying, appointments and customer service. We hope to be doing 100,000 customer interactions within three months. But I think we’re just getting started. We are confident that in the near future, Akosha chat will be a competitive customer service differentiator for businesses”.

On the other hand, Shailendra Singh, Managing Director, Sequoia Capital India Advisors says, “We have always believed in the thesis that consumers need a better way to interact with businesses. We are inspired by Ankur’s vision for becoming a single destination on the smartphone for users to interact with hundreds of businesses and online services. We are delighted to lead our third round of investment in Akosha, starting with a $200,000 seed investment in 2011”.

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