Rishabh Pant acquires 2 percent stake in TechJockey to expand his investment Portfolio

India's software market has always been in the limelight for various reasons from time to time. It not only attracts the techies worldwide but also looks appealing to many celebrities and cricket stars of the country. Top it up by attaching the business acumen in the age where several Indian cricket stars have taken their liking to investing and being an entrepreneur when away from the field.

Now in the latest development, it was revealed that Team India's wicketkeeper-batter Rishabh Pant has also joined the bandwagon of the tech world. TechJockey, a software marketplace, recently, revealed that Pant has claimed his stake of two percent in the renowned company. Notably, the valuation of the stakes is tipped to be INR 7.40 Crore in Indian rupees.

Speaking of the company profile, it was founded in the year 2017 by renowned food delivery chain Zomato's former Vice President, Akash Nangia, along with a former McKinsey executive, Arjun Mittal, who also happens to be his dear friend from his college days. The goal of the firm has been to provide a platform for software vendors to connect with various small-scale businesses across the country. In the early phase of 2024, the company expanded its operations into the markets of the United States of America (USA).

"The fresh capital was raised at a valuation of Rs 370 crore (approximately USD 44.17 million), with Pant acquiring a 2 per cent stake in the company as part of the deal, said Nangia in a statement released by the company as per the Economic Times.

Meanwhile, speaking of Rishabh Pant's business acumen, the star Indian wicketkeeper believes that his rich vein of experience in the professional sports world led him to invest in diverse businesses.

"In cricket, having the right technology for live streaming, commentary, and DRS is crucial. You need the right tools to make quick, smart choices. I've seen how much the right software can help a business grow efficiently, so investing in TechJockey.com made sense to me," said Pant.

"I really like how SaaS companies operate, and I see great potential in that concept," he further added.

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Having Rishabh on board is a significant win for us: Nangia

Reflecting on Rishabh Pant's decision to invest in the tech firm TechJockey, VP Nangia said that having Pant on the board was a significant boost for them. Moreover, he also lauded the cricketer for having a deep understanding of the software business apart from being a sports professional. As a result, he felt that Pant's contribution would help the company to swell bigger, especially in the US-based markets along with the number of sellers globally.

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"Having Rishabh on board is a significant win for us, not only because of his stature as a cricketer but also due to his deep understanding of business," Nangia apprised.

Regarding the revenue generation of TechJockey, the firm registered INR 125 crore in Indian rupees for the financial cycle 2023-2024. The tech company has set their target of achieving INR 170-180 crore in revenue in the upcoming fiscal year 2025. Furthermore, the firm has garnered nearly seven to 10 crore revenue via advertisement sales from the registered revenue.

The rest of the generated revenue as revealed by TechJockey, came from margins accumulated through sellers on their platform. Currently, the company serves five lac businesses and has over 500 categories to choose from in its software catalogue.