Akosha, a digital platform for resolving consumer complaints, has raised $16 million in series B round led by existing investor Sequoia Capital, valuing the Delhi-based company at $70-80 million. Sequoia has originally led both the Seed and Series A rounds for Akosha and the company has raised about $21.5 million so far.
The firm will use the financing to continue to expand its software engineering teams, accelerate product development, and invest in growing its user base. It expects to add 400-500 people to its team this year.
Akosha was launched in 2010 by Founders Avinash Vankadaru, Vishal Pal Chaudhary and Ankur Singla. It helps Indian consumers in resolving their complaints and approaching a consumer forum for redressal. The company claims to handle 30,000+ consumer inquiries every day over the web, telephone and its Android chat app. It monetizes these inquiries by providing a B2B help desk software platform OneDirect where it competes with the likes of Airwoot, Zendesk, FreshDesk and Kayako.
Its B2C Android app has 140,000 users, and can be used for product discovery, pricing information, discounts, customer service, booking appointments, travel research and so on.
Its competitor Haptik had raised $1 million in seed funding led by Kalaari Capital in September 2014.