Teafinn – An Interesting Start Up mentored by NASSCOM. As part of our Start Up series we will be discussing with Mr. Abhay Ranjan the CEO & Founder of Teafinn.
So Abhay Ranjan give us a Brief Note on Teafinn and its growth story?
Teafinn started with an idea to explore opportunities to offer food-culture experiences. Now, we are developed into full-fledged platform that offers integrated food-culture experiences with social networking, ordering and payment.
Tell us everything about your company, what does it do? What were the challenges of setting up and scale? How did you overcome them?
We provide a platform to allow users to share & offer local experiences & cuisines. Other users can communicate & collaborate to experience these. They can book and pay hosts for creating a personalized experience for them. They can share their experiences and provide feedback. Local home cooks can make money by selling their homemade food. With a tagline “Let your hobbies pay your bills” Teafinn is moving forward to connect a million people.
Give us a background of your core team along with the total strength of Teafinn.
Our core team consists of six team members that come from a diversified technical background with multidisciplinary skills and capabilities. Myself(Abhay Ranjan), CEO and Founder is associated with start-ups since 2013, and worked for start-up giant like Airbnb and assisted many start-ups as well as established companies as a independent Project Consultant, whereas Both our CTO and COO carry combined industry experience of 22 years with companies such as T-Mobile, Vodafone, GATI and Safexpress. Our corporate Planning and SCM Director has more than 8 years of corporate planning & cost control in Indian, foreign and multinational companies. Our business development manager carries experience of working with organizations such as Airbnb and IBM. The graduate engineer developing the iOS version of app is capable, dedicated and passionate with skills that perfectly match the job requirements.
Advisors & Mentors
We are currently being advised and mentored by NASSCOM under “10,000 Starts-Ups” initiative.
What is the business model of Teafinn and how does it work?
Currently we are in initiation stage and thus we are offering services free of cost. In future we are planning to charge a percentage of the earnings from Hosts.
Some of our milestones are:
The biggest millstone is development of web and app platforms. The next milestone we are planning is to create 10,000 unique food-culture opportunities for our users.
Recognitions & Awards:
We are being recognized by DPIT (Department for Promotion of Industry and Internal Trade). We have been selected as top-6 startups to be incubated at NASCOMM start-up initiative.
What is the one thing that sets you apart from your competitors and what’s your revenue model?
We found that restaurants and travel websites, keep high margins and offer poor services. People are even willing to pay a higher price to experience local cultures & cuisines. Most of the platforms offer services to connect businesses to consumers. No platform offers integrated local experiences/cuisines, social networking, ordering, and payment facility. Our Platform offers all these to users to share and have food-culture experiences.
What were the challenges you faced during your journey and how did you overcome them?
The biggest challenge is to covert the idea into a platform with limited resources. Many a times we failed, and in this process, we created several prototypes that failed. But, with the support of team members, their families, and mentors we overcame these challenges successfully.
How are you funded?
We are bootstrapped startup and in process of getting funded soon. We are in dialog with venture capitalists but we will not be able to disclose further about the deals.
What are the services offered to the customers?
We offer social platform for food-culture experiences such as a farm visit, adventure, cooking class, heritage walks, festive walks, wine testing and many more.
What is your Future plan? And how do you see your Startup in the coming years?
We are planning to expand the service offering and regional outreach to provide a greater degree of personalization on a global scale. We are also planning to use of advanced algorithms and artificial intelligence to offer better services to our users.
Finally, your advice for Budding Entrepreneurs?
A great idea can only be transformed into a good product with the help of a great team. So, always keep faith in your team and support them so that they can support you.
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