Hyderabad-based office meal delivery start-up TinMen
expects to grow 10 times to 300,000 orders per month by December 2017. Currently, it has been serving 1,000 homemade lunches a day to customers in major IT hubs of the city.
The start-up has raised undisclosed funds from the existing seed investor Lead Angels and three new investors led by Mahesh Reddy
of Corvus Ventures, MAPE Advisory Group and Sify
co-founder R Ramaraj in the recent round of funding.
With these funds, TinMen
is now looking to expand across the city and venture out to other cities in the next 18 months. "We will spend 35 per cent of the investment in marketing, while the rest of the funds in building the technology, infrastructure
and operations," TinMen
co-founder Chaitanya Degala said.
"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," he added.
After achieving 3-4 times growth in Hyderabad in terms of number of orders, the start-up is planning to do a pilot in a metropolitan city during the next six months. Based on the market research and competition from other players, it is considering cities like Chennai, Bengaluru, Mumbai, Pune and Ahmedabad.
The two-year old start-up had raised a seed round of funding in January 2016 and it claims to have grown five times in the last one year. It has partnered with Bengaluru-based digital payment gateway firm Instamojo
to enable wallet services on its platform.