India-based microtask service Taskbucks has secured $15m from Times Internet, the digital arm of media company Times Group, in return for a majority stake, Business Standard reported on Monday.
Founded in 2014, Taskbucks operates an app-based marketplace that lets companies set up micro jobs, such as filling out surveys or trying out new apps, for users who are then rewarded with free phone top-ups or credit for their digital wallet.
The cash injection will support the launch of a premium service that will allow brands to create higher paying jobs that are completed in the real world. Taskbucks will also add new features such as crowdsourced surveys and opinion polls to the platform.
The company hopes to achieve 50 million downloads of its app in the next two years, up from a current five million.
Miten Sampat, vice-president of corporate development at Times Internet, said: “As hundreds of millions of Indians get connected with smartphones, Taskbucks is one of the few services that has an immediate and clear value proposition for the consumer.”