Tpot, the startup serving tea and snacks to the working population of the country, has secured an undisclosed amount of seed funding from Ashish Gupta, the Founder and Trustee of Ashoka University and co-founder of Evalueserve. Tpot is part of an unorganised sector of startups and food delivery platforms serving evening snacks and tea and hopes to bring some organisation to the sector.
Expansion Of Brand
The funds received by the company in this round of funding will be used to expand its services and brand in the country. Tpot plans to open over 50 stores by the end of this year with the unique selling point of the startup catering to the snacks and beverages sector of the market. Speaking about the company’s plans, Robin Jha, co-founder and CEO of the company, said, “Chai-Nashta is an under-served opportunity in India and is primarily unorganised. Our team has built a strong foundation in Delhi/NCR region. Having gained a good traction of consumers here, we are confident to establish our brand presence in the other markets too. Our customers will get the same Tpot essence in each outlet they choose to visit. It is a favourite hangout place, for smart, casual and family visit.”
Solving Evening Problems
Tpot presents a new opportunity of growth for startups catering to a niche market. Although the evening snacks category has its fair share of competition, Tpot believes that their products served at their outlets, including different flavours of tea and a wide ranging variety of snacks, presents a better alternative to the road-side stalls and carts. As such, the company is targeting Rs. 12 crore revenue by the end of this year, which would increase the company’s growth rate to nearly 300 percent, year-on-year. Speaking about the problems that the company intends to solve with its products and service, Ashish Gupta, noted that, ” being an ardent tea lover, I met Robin in an event and the love for the herbal teas brought us together. Over subsequent meetings, I realised the magnitude of the problem that they were solving. I was quite impressed by the concept of Tpot and the team of Robin, Asad and Atit. The team had spent considerable amount of time in understanding the consumer preferences and are capable to create a niche for themselves in this highly fragmented market. Therefore I decided to be a part of this journey.”
Expanding on its current presence in the Delhi-NCR region will prove to be crucial for the startup as the plans to launch its brand in multiple cities is further down the pipeline. The company also plans to start its own food delivery service by next year.