Pune-based Sminq India Solutions Pvt Ltd. which owns and operates queue management app Sminq, has raised $1 million from Saama Capital, Blume Ventures and other investors.
Angel investor Vaibhav Domkundwar also participated in the round. Suresh Shanmugham, co-founder and managing partner at Saama Capital, will join the company’s board. The startup will use the funding to get more services on the app and improve its technology offering.
Shachin Bharadwaj, Co-founder & CEO said, "We have been in the market for close to a year now, and see a very good product market fit for Sminq. We are already generating revenues and have seen great traction when it comes to user engagement with the app. We plan to use the funds to get more services on Sminq and also improve our technology offering".
Founded in July 2015 by Santhosh Nagarajan, Sheldon D’souza and Shachin Bharadwaj, Sminq app gives real-time information on queues at places such as doctors’ clinics and does away with the need to be physically present to hold one’s spot. The company plans to build a visibility search engine which will enable users to book appointments across various businesses.
The startup claims to have about 40 paying doctors using the app for their clinics in Pune and it charges a fee to be listed on Sminq. Within the first five days of rolling out this feature, it generated payments worth Rs 35,000. The company claims to drive 6,000 user bookings a month for clients.
Check out the below video to know more about Sminq:
Sanjay Nath from Blume Ventures said, "Sminq's technology solves a very fundamental problem - saving time and thus making people more efficient. The inefficiencies and hassles of "waiting and hoping" are particularly acute in India, but the market opportunity is global."
Blume Ventures has recently closed its second VC fund. It has invested in more than a dozen companies in 2016, including co-working space BHIVE, tech startup Servify, ed-tech firms Unacademy and wedding solutions portal The Wedding Brigade.
Saama Capital recently raised $30.3 million under its third fund. It has invested in around half a dozen firms over the past year, including beverages firm RAW Pressery, tea chain Chai Point and Veeba Foods, besides some tech ventures like EazyDiner, Bluestone, Lendingkart and Naaptol.
Image Source: ShutterStock
Angel investor Vaibhav Domkundwar also participated in the round. Suresh Shanmugham, co-founder and managing partner at Saama Capital, will join the company’s board. The startup will use the funding to get more services on the app and improve its technology offering.
Shachin Bharadwaj, Co-founder & CEO said, "We have been in the market for close to a year now, and see a very good product market fit for Sminq. We are already generating revenues and have seen great traction when it comes to user engagement with the app. We plan to use the funds to get more services on Sminq and also improve our technology offering".
Founded in July 2015 by Santhosh Nagarajan, Sheldon D’souza and Shachin Bharadwaj, Sminq app gives real-time information on queues at places such as doctors’ clinics and does away with the need to be physically present to hold one’s spot. The company plans to build a visibility search engine which will enable users to book appointments across various businesses.
The startup claims to have about 40 paying doctors using the app for their clinics in Pune and it charges a fee to be listed on Sminq. Within the first five days of rolling out this feature, it generated payments worth Rs 35,000. The company claims to drive 6,000 user bookings a month for clients.
Check out the below video to know more about Sminq:
[youtube https://www.youtube.com/watch?v=lXEq10tGB8M]
Sanjay Nath from Blume Ventures said, "Sminq's technology solves a very fundamental problem - saving time and thus making people more efficient. The inefficiencies and hassles of "waiting and hoping" are particularly acute in India, but the market opportunity is global."
Blume Ventures has recently closed its second VC fund. It has invested in more than a dozen companies in 2016, including co-working space BHIVE, tech startup Servify, ed-tech firms Unacademy and wedding solutions portal The Wedding Brigade.
Saama Capital recently raised $30.3 million under its third fund. It has invested in around half a dozen firms over the past year, including beverages firm RAW Pressery, tea chain Chai Point and Veeba Foods, besides some tech ventures like EazyDiner, Bluestone, Lendingkart and Naaptol.
Image Source: ShutterStock
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