TinMen, a Hyderabad-based technology-driven food delivery startup, which is operated by Vicinia Retail Pvt. Ltd., has raised an undisclosed amount of funding from MAPE Advisory Group, R Ramaraj (Co-founder at Sify) and Corvus Ventures, which was led by Mahesh Reddy of MAPE Advisory.
On this occasion, Mahesh Reddy from Corvus Ventures said:
The food habits of Indians are undergoing significant changes and we found TinMen was one of the few companies able to cater to this need for homemade food with a keen focus on business fundamentals
Existing seed investor – Lead Angels led by Sushanto Mitra have also participated in the round. Last year, he invested an undisclosed amount in the company.
Sushanto Mitra Founder & CEO, Lead Angels, said:
When we met Mukesh and Chaitanya, the food tech sector was undergoing multiple closures and was almost given-up on, by majority of investors. Our decision to invest into Tinmen was driven by their determination to succeed in a tough situation and am glad that our bet has been more than vindicated
The company offers home cooked meals to working professionals and has simplified office lunches with a scheduler built into their App available on both Android and iPhone. Users can create a weekly meal plan and opt to put the repeat it using the app’s scheduler. There is a function in the app which lets the user to either start or pause lunches from the next day, every day like clockwork.
Commenting on the Tinmen, Mukesh Manda, Co-founder, said:
We have a product which fits perfectly into the gap in the online food ordering for customers who are value and quality-conscious. Our startup has built all of its technology in-house and we have learnt from the multiple challenges of the food + technology space over the last year
The startup was founded in August 2015 by Chaitanya Degala and Mukesh Manda. Degala is an alumnus of Oxford Said Business School and has worked with companies like CRISIL and Deloitte before starting up. Manda is an IIT-Kharagpur graduate who has previously worked with Oracle and Amazon.
TinMen has been serving homemade lunches to customers in major IT hubs in Hyderabad and is now looking to expand across the city and venture out to other cities. The app has undergone significant structural and design changes primarily aimed at making it more intuitive. Subscribers will soon also be able to schedule breakfast, lunch, snacks and dinner for their office as well as homes.
For mid-market companies who want to offer lunch benefits to their employees, TinMen acts as a virtual cafeteria; Companies have the flexibility to choose a budget for their employees on TinMen and the employees have the advantage of choosing from 100+ meal options on the App.
It was reported by the sources that the company delivers about 30,000 meals a month and has on-boarded more than 100 home chefs on its platform. They also that claim the company is operationally profitable and targets to deliver 3 lakh orders per month by December 2017.