Meal Delivery Startup TinMen Raises Follow-On Funding
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.
Hyderabad-based meal delivery startup, TinMen®, has raised an undisclosed investment round from MAPE Advisory Group, R. Ramaraj, Co-Founder, Sify, and Corvus Ventures led by Mahesh Reddy. Existing seed investor - Lead Angels led by Sushanto Mitra have also participated in the round. Started in August 2015 by Mukesh Manda and Chaitanya Degala, TinMen offers homemade meals to professionals, with an in-app intuitive meal scheduler to make meals healthy and easily available for office-goers, while also providing employment opportunity to a number of home-based chefs.
Mahesh Reddy from Corvus Ventures says, “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”.
The company has been able to grow to delivering 30,000 homemade meals a month in such a short span of time primarily due to the high quality of its meals and scheduled deliveries from its rapidly growing team of 100+ home-chefs.
Mukesh Manda, alumni of IIT Kharagpur, co-founder of TinMen 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. Our success in this dynamic sector is due to our focus on both frugality and innovation. TinMen has become operationally profitable and we expect to grow 10x to 3 lakh orders per month by December 2017.”
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.
“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,” said Sushanto Mitra Founder & CEO, Lead Angels.
This is How TinMen Works: Users can create meal plans for a day, a week or a month and start and opt out of the deliveries at a day’s notice. Pre-scheduling on the App lets customers get their meals delivered at their desk everyday like clockwork. The app has a built-in wallet and chef reviews for a seamless user experience. Passionate home-chefs who are looking to reach out to a wider audience can also sign up on TinMen’s website and start making meals after a thorough vetting process.
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.