About iKaaz
iKaaz is a Retail company based in Bengaluru (India) founded in 2012, and was acquired by Grab in January 2018. NFC-based mobile POS platform is provided for cashless transactions. It operates in the Retail and Financial Services sectors. iKaaz has raised $587.58 thousand across 2 funding rounds from investors including Grab, Rakesh Desai and Shipi Kedia. iKaaz was last valued at $1.86 million in June 2017. Its Indian entity Ikaaz Software Private Limited reported revenue of ₹65.2 Lakh. The company was acqui-hired. iKaaz offers products and services including GrabFood, GrabMart, GrabExpress, and Rides. Its focus areas include FinTech, Payments, Business Payments and POS Payments. Its competitors include Ezetap, Mswipe and Innoviti; 3 of its 3 listed competitors have raised funding.
Company details
iKaaz was founded in 2012 in Bengaluru, India, and operates in the mobile payments sector. A platform is offered to enterprises, business correspondents, and merchants in developed and emerging markets. Cashless transactions are enabled through a product suite focused on speed, security, and affordability. Operations support extensions of digital payment services to customers across these regions.
- Headquarters Bengaluru, India
- Stage Acquired
- SectorsRetailFinancial Services
- Email••••••••
- Phone•••• ••••
- Website ikaaz.com
- Social LinkedIn X
- Acquired by Grab (Jan 2018)
- Legal Name Ikaaz Software Private Limited
- Date of Incorporation 04 Jul, 2012
- Jurisdiction Bangalore, Karnataka, India
Associated legal entities of iKaaz
iKaaz is associated with 2 registered companies on The Company Check; the primary company is Ikaaz Software Private Limited. Each company page carries the filings, financials, charges and directors of that entity.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2021) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Ikaaz Software Private Limited CIN U72200KA2012PTC064709 | Active | 04 Jul 2012 | Bangalore, Karnataka | ₹0.7 Cr | 2 | View details | |
| Ikaaz Payments Private Limited CIN U72200KA2017PTC108563 | Strike Off | 11 Dec 2017 | Bangalore, Karnataka | 2 | View details |
Products & Services of iKaaz
iKaaz offers a comprehensive portfolio of products and services, including GrabFood, GrabMart, GrabExpress, and Rides.
App for ordering and delivering meals from restaurants
Platform for online grocery shopping and fast delivery
Service for sending packages and documents quickly
App-based system for booking vehicle rides
Funding Insights of iKaaz
iKaaz has successfully raised a total of $587.58K across 2 strategic funding rounds. The most recent funding activity was a Angel Round of $587.58 thousand completed in June 2017. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $587,582
- Total Rounds 2
- Last Round Angel Round — $587,582
- Investors Count 5
All 2 funding rounds of iKaaz with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun 2017 | $587,582 | Angel Round | $1.86M | Rakesh Desai, Rakesh Desai | |
| Jan 2014 | Seed | – | – | – |
| Date | Valuation | Stage |
|---|---|---|
| Jun 2017 | $1.86M | •••••••• |
Last known valuation $1.86M (Jun 2017). 6 investors in total: 1 institutional and 5 angel.
Investors in iKaaz
iKaaz has secured backing from 6 investors, including angel and institutional investors. Prominent investors backing the company include Grab, Rakesh Desai and Shipi Kedia.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Ride-hailing and on-demand delivery services are aggregated via mobile app. | 2012 | grab.com | Singapore, Singapore | |
RD Rakesh Desai | unknown_3a7ed6387ec44aab9 | |||
SK Shipi Kedia | unknown_44913cfc564e4f9fa | |||
RD Rakesh Desai | unknown_b427935c487f472db | |||
AK Ananda Kallugadde | Co-founder of Neo Group, active angel investor in Indian startups | unknown_83cc84262f984740a | ||
SK Shipi Kedia | unknown_ede15500fc13405fa |
Investor details for iKaaz
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Board of directors of Ikaaz Software Private Limited (iKaaz)
Ikaaz Software Private Limited is the primary company behind iKaaz. The boards of the 2 registered companies of iKaaz currently have 3 directors; the longest-serving is Manicavasagam Somasundaram, appointed in 2017. 5 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Manicavasagam Somasundaram DIN 03379601 | Director | 11 Dec 2017 | 8 yrs 10 mo | Ikaaz Payments Private Limited, Ikaaz Software Private Limited |
| Sudeendra Sadashiva DIN 08019049 | Director | 11 Dec 2017 | 8 yrs 10 mo | Ikaaz Payments Private Limited |
| Radhakrishnan Anandkumar DIN 08489344 | Director | 20 Jun 2019 | 7 yrs 4 mo | Ikaaz Software Private Limited |
Financials of iKaaz
Figures of Ikaaz Software Private Limited, the primary company behind iKaaz, for FY 2021. Revenue was ₹65.2 Lakh (-33% year on year). Net loss was -₹4.8 Lakh (-7% margin). EBITDA was -₹4.7 Lakh (-7% margin). Revenue has grown at a compounded annual rate of -69% over three years and -58% over five years.
- ₹65.2 LakhRevenue · FY 2021 · -33% YoY
- -₹4.8 LakhNet loss · -7% margin
- -₹4.7 LakhEBITDA · -7% margin
- ₹1.2 LakhPaid-up capital
- -69%Revenue CAGR, 3 years
- -58%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Ikaaz Software Private Limited are on its company page.
Detailed financial statements for iKaaz
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
- Financial ratios
- Five-year trends
- Downloads
Verified entity values are shown only after access is granted.
Timeline of iKaaz
5 dated milestones of iKaaz across 6 years, from founding to its latest funding, stage changes and deals.
- Founded iKaaz is founded.
- Funding First funding round.
- Funding Latest funding round, Angel Round, of $588K.
- Milestone Reaches Minicorn status.
- Exit Acquired by Grab.
Competitors of iKaaz
iKaaz has 3 listed competitors in our database, 3 of them funded. They include Ezetap, Mswipe and Innoviti.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| ezetap.com | 2011 | Bengaluru, India | $66.4M | 532 | Cloud-based mPOS software and hardware solutions are provided for businesses. | |
| mswipe.com | 2011 | Mumbai, India | $125.95M | 1,088 | Point-of-sale machines, soundboxes, and merchant payment solutions are offered. | |
| innoviti.com | 2002 | Bengaluru, India | $141.01M | 198 | Integrated online and offline payment solutions are provided for businesses. |
Detailed competitors of iKaaz
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
Verified entity values are shown only after access is granted.
Top companies in Autonomous & In-Store Retail Tech
3 companies that operate in the same segment as iKaaz (Autonomous & In-Store Retail Tech) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
App-based bookkeeping solutions are offered for small business management. | 2018 | Bengaluru, Karnataka, India | USD 186.62 M | USD 165.88 K | ||
Retail intelligence platform is developed for brands and B2B retailers. | 2008 | Bengaluru, Karnataka, India | USD 21.11 M | USD 7.69 M | 345 | |
Platform powering online and in-store retail operations using AI-driven tools | 2012 | Mumbai, Maharashtra, India | USD 16.02 M | USD 43.86 M | 851 |
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Related news about Ikaaz
Complete news archive for iKaaz
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Frequently Asked Questions about iKaaz
iKaaz was founded in 2012 and raised its 1st funding round 2 years after it was founded.
iKaaz is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
iKaaz is a funded company, having raised a total of $587.58K across 2 funding rounds to date.
The primary company behind iKaaz, Ikaaz Software Private Limited, reported revenue of ₹65.2 Lakh for FY 2021, down 33% year on year.
iKaaz was founded in 2012 in Bengaluru, India, and operates in the mobile payments sector. A platform is offered to enterprises, business correspondents, and merchants in developed and emerging markets. Cashless transactions are enabled through a product suite focused on speed, security, and affordability. Operations support extensions of digital payment services to customers across these regions.
iKaaz offers GrabFood, GrabMart, GrabExpress, and Rides.
iKaaz has 6 investors. Key investors include Grab, Rakesh Desai, Shipi Kedia, Rakesh Desai, and Ananda Kallugadde.
The valuation of iKaaz is $1.86M as of Jun 2017.
iKaaz is associated with 2 legal entities: Ikaaz Software Private Limited, Ikaaz Payments Private Limited.
Yes. iKaaz was acquired by Grab in January 2018.
The legal entities of iKaaz currently have 3 directors, including Manicavasagam Somasundaram, Sudeendra Sadashiva, Radhakrishnan Anandkumar.