To increase its focus on mobile technology, Pune-based Mazkara Internet, a consumer internet company, has announced its acquisition of mobile app development startup BazingaLabs, for an undisclosed amount.
Mazkara Internet was founded by Prasanjeet Roy and Mohammad Ali in 2015. Fabogo, the flagship product of Mazkara Internet which recently secured a third round of funding of $2.25 million from Dubai based micro PE investors, Dunamis Ventures.
The company was seed funded with $1 million in Jan 2016 and later raised $500,000 in angel funding in May 2015.
Besides Fabogo, Mazkara Internet is also developing BigReach, a digital marketing development app and EatRepeat, a personalised restaurant app building service, and the firm is committed to spend 40% of the portion on technology.
Prasanjeet Roy, CEO and Co-founder of Mazkara Internet said, “We have a solid business model in place and our expertise lies in web technology. However, with launching transactions on our flagship product Fabogo, the need of the hour was focusing on mobile technology. With Kakshil & team onboard, we are confident of taking Mazkara Internet to the next level.”
On the other side, Mumbai-based startup BazingaLabs, founded by Kakshil Shah, has developed Skedule, a mobile application that had a similar business model as Fabogo, which lets users discover and book experiences at their location. In the past, Bazinga has partnered with startups to develop their mobile products starting with ideation, design, back end and front end development, and growth hacking.
BazingaLabs had developed Fabogo as well, a company which enables customers to discover local salons and spas, and allows them to call and book appointments through its platform. It is currently operational in Dubai, Pune, and Mumbai.
Kakshil Shah, Founder of Bazinga Labs said, “The acquisition came very naturally, as we were already working closely with Mazkara Internet for almost a year. Our technical skills and their business expertise harmonise perfectly with each other.”
Mazkara Internet: Website