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Hyderabad-based food delivery startup, TinMen, has raised an undisclosed amount in angel round of funding from the Lead Angel Network. The raised capital will be used to serve a larger set of customers in Hyderabad and thereafter expand to other cities.
Started in August 2015 by Mukesh Manda and Chaitanya Degala, Tinmen, offers home cooked lunches to working professionals, and has vastly simplified office lunches with a scheduler built into their App available on both Android and iPhone.
Users can create weekly meal plans and restart or opt out of the deliveries at a day’s notice using the app’s scheduler.
The startup delivers over 8000 lunches to professionals every month. Knowing what the customer needs well in advance, helps cluster more than 20 orders per-hour per-delivery resource, which brings down the cost per delivery. This helps Tinmen in offering lunches starting at INR 50 with no extra delivery charge.
Tinmen is looking to deliver around 40,000 lunches per month in the next six months.
The company generates significant revenue for its home-chefs and each home chef makes between 20 and 50 lunches per day based on their comfort level, which translates into earnings between INR 30K & INR 75K per month.
Mukesh Manda, co-founder of TinMen said, “TinMen is also one of the first food delivery apps to have a B2B model for companies that want to give food as a perk to their employees, a benefit that more and more companies are exploring of late.”
It is like a virtual cafeteria, companies decide on a fixed amount and recharge the TinMen wallets of all the employees, who then order through the app. This gives them (employees) the advantage to choose exactly what they want.
The startup has built all of its technology in-house and have learnt their lessons from the multiple challenges of the food+technology space over the last six months. The rating system and the variety of possible food combinations and cuisines has helped Tinmen to have over a 40% (or higher) customer retention.
The company calls itself a technology-enabled version of the “Mumbai Dabbawalas”.
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