Bengaluru-based startup Hashtaag laps up $1mn in angel fundingPress Trust of India
Bengaluru-based startup Hashtaag, which builds native mobile apps and products, today announced it has secured $1 million in angel funding.
The funding would enable the firm to hire better talent, build better products and expand operations further in India and globally. Krishna Vemula, Chairman and Co-Founder of Hashtaag, said,
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 clients' needs with our fundamentally unique business model and value propositions.
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 plus employees by the end of 2016 in India and has already set up additional offices in Chennai and Mumbai and plans to expand globally, the company said in a release. Hashtaag also has an office in San Francisco, California which caters to serial entrepreneurs in the US.
Hashtaag, founded by Krishna Vemula (Kim) and Jayavardhan B N in 2015, employs over 40 mobile app developers, designers and support staff. It primarily works with entrepreneurs and startups looking for high-quality mobile app development partner, the company said.
Hashtaag is the mobile app development partner of apps such as Doors, Shouut, Paperboy, FaceChat, Curiocty, and Logoon– all owned by popular celebrity icons and serial entrepreneurs. Jayavardhan B N, CEO & Co-founder, Hashtaag said,
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 recognising our potential to capture a large portion of a booming market.