New Delhi: Indian cricket team's star wicketkeeper-batsman Rishabh Pant has made a huge investment in online software marketplace TechJockey.com. According to TechJockey, Pant has bought 2 percent stake in the company. The deal was done for Rs 7.40 crore.

What does TechJockey.com do?

Techjockey.com was founded in 2017 by former Zomato vice president Akash Nangia along with his college friend and former McKinsey executive Arjun Mittal. It connects software vendors with small businesses across the country. Earlier this year, the company also expanded its operations to the US market. Techjockey aims to achieve a revenue of around Rs 125 crore in FY 2023-24. It has set a target of reaching Rs 170-180 crore in the current financial year.

Nangia said in a statement that the fresh equity was raised at a valuation of Rs 370 crore (about $44.17 million). In this, Pant acquired a 2 percent stake in the company. He said, 'Rishabh Pant joining the board is a big achievement for us. Not only is his stature as a cricketer very big, but his business acumen is also very good.'

Why did Pant invest in TechJockey?

Pant, who captains the Delhi Capitals in the IPL, says investing in different businesses requires a conscious understanding. He also uses his experience from his professional sports career to take decisions in this matter. Talking about the rise of software-as-a-service (SaaS) firms, Pant said, "I actually like the way SaaS companies operate. I see a lot of potential in that concept."

Pant said, "It is important to have the right technology for live streaming, commentary and DRS in cricket. The right technology helps you make smart decisions quickly. I have seen how the right software can help a business grow efficiently. That is why I consider my investment in TechJockey.com to be right."