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<br /> <keyword id="3148257" type="UNKNOWN" weightage="100" keywordseo="Pocketin">Pocketin</keyword>, a four-month old startup has raised its seed round of 150,000 USD from Hong Kong based <keyword id="3148365" type="UNKNOWN" weightage="100" keywordseo="Swastika-Company">Swastika Company</keyword> Ltd and aims to consolidate the eating-out space in the national capital.<br />
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Pocketin provides a technology platform for diners to discover, compare, and choose where they want to head out next based on real time deals offered, events happening around the diner, or pertaining to specific activity the diner might have in mind (group packages, buffets, etc.).<br />
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It is the first ever platform in India which has given the restaurants the power to incentivize each diner differently depending upon the diner’s specifics and also the current business situation. Its revolutionary Autopilot technology, helps push curated deals to respective diners in the absence of the merchant on the platform. This way Pocketin ensures that the user gets the real time sourced deal from all the merchants within five minutes as a guarantee.<br />
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This seed round will be utilized to expand across Delhi, Noida, Ghaziabad and Gurgaon. It will also help in building the core team and strengthen the core product offering.<br />
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Pocketin was launched in September 2015 by Kshitij Mehra (DCE Alumnus), Anirudh Mondal (Thapar Alumnus, ex-Practo), Rahul Arora (DCE Alumnus), Siddharth Sharma (SIMC Alumnus, ex- Foxymoron) and Akshay Utreja. The venture was born out of weekly discussions on where to head next and the pain point of discovering better deals around them.<br />
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“We aim to create a platform which not only helps people discover new restaurants but also make their experience pocket friendly by offering them the best possible deals/discounts through our unique Real Time deal discovery and comparison engine. We also understand that for a diner, along with the price, convenience matters a lot which is why we have a dedicated operations workforce which ensures that every customer has a delightful and hassle free table reservation and deal redemption experience at the restaurant” says Kshitij Mehra, CEO at Pocketin.<br />
<br /> According to Vaibhav Jain, Director at Swastika Company Limited, “Investing in Pocketin was an interesting proposition for us as we look to fund <keyword id="6362513" type="ORGANIZATION" weightage="100" keywordseo="Startups">startups</keyword> with a strong technical backbone. With the use of Real Time deal technology, they have empowered the restaurants to maximize their table occupancy and optimize profits. It’s a complete win-win situation for both the merchants and diners. This has been the reason that the platform has seen more than 75% repeat users at such an early stage”<br />
<br /> “Our aim right now is to create a more intuitive experience for the user. The data points we are capturing on the platform is much more than what similar <keyword id="6354741" type="UNKNOWN" weightage="80" keywordseo="Apps">apps</keyword> in the food-tech domain are able to capture because of the detailed interaction our app has with the user. This will help us to suggest the user more relevant restaurants and deals when he is looking for them without him having to make all that effort” says Anirudh Mondal, COO Pocketin.<br />
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Pocketin has grown organically in the last four months and mostly the growth has been driven by word-of-mouth referrals. With a very limited spend on marketing, the company has been able to drive more than 8000 downloads and seated more than 6500 diners. Pocketin aims to partner with more than 1200 restaurants in Delhi NCR in the next six months and seat more than 1 lakh diners. It has plans to expand operations to Mumbai, Bangalore and Dubai in the next phase. With a current team size of 15, Pocketin looks to double its team in the coming months.<br />
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Four month old startup Pocketin raises seed round funding of $150,000

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India is slowly warming up to the dining out culture and people, especially students and the youth are dining out approximately three-four times a month. However, the increasing number of taxes that one has to foot along with the bill can sometimes play a hurdle in the way of ensuring that a night out also scores on the affordability factor.<br />
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The easiest solution to that is undoubtedly hunting for discounts. But, in most cases, hunting for a good discount is not only a cumbersome process but also almost always unsatisfactory- they’ve either expired or are not applicable for the restaurant you’re interested in.<br />
<br /> What do you do then? You download <keyword id="3148257" type="UNKNOWN" weightage="80" keywordseo="Pocketin">Pocketin</keyword>, India’s first ever service that acts as a <keyword id="3148259" type="UNKNOWN" weightage="80" keywordseo="bargaining-app">bargaining app</keyword> between diners and restaurant owners<br />
“The main aim is to give people a platform where they call the shots as far as discounts are concerned,” Anirudh, the COO of Pocketin tells me.<br />
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The app has been founded by three engineering graduates who’ve ditched their cushy jobs to ensure foodies get the discounts they deserve.<br />
Kshitij, the CEO of Pocketin, who manages the backend operations left Deloitte, while Anirudh, who’s responsible for sales and marketing left Practo. Rahul, on the other hand left Amazon. He manages the tech aspect of the app.<br />
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 (The Pocketin team)<br />
<br /> The trio toiled for close to two months before launching their app on August 10 and after over 90 days in business, they have not only managed approximately 5,000 downloads on the Android Play Store but also have over 105 <keyword id="34615" type="ORGANIZATION" weightage="80" keywordseo="restaurants">restaurants</keyword> on board.<br />
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The app works using four simple factors. The user’s budget, the number of people he’s looking to go out with, the time of his expected visit and the date.<br />
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“Once you key in these information, we show you a list of restaurants from which you can choose the one you would like to place a bid on. Additionally, you can also search for an area and then find a particular restaurant or place bids for multiple restaurants,” explains Anirudh.<br />
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He further adds that while you’re placing a bid, you’ll also be able to see the average bid that is accepted by that respective restaurant.<br />
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‘Bids equal the percentage of discount that would be applied to your net bill, if accepted. It’s all about instant gratification.’ he reveals.<br />
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Once you’re done placing the bid, the team gets to work and lets the restaurant know of your offer and it is then upto the restaurant to either accept your bid or give you a counter offer- all of which the Pocketin team will let you through a chat that is integrated on the app.<br />
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When you place bids for multiple restaurants, you can also compare the deals and choose the best ones.<br />
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As of the moment, the team has closed in 635 transactions, with a GMV of more than 12 lakh.<br />
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When asked the maximum bid they’ve managed to get any customer, prompt came the reply. “86 of the transactions have been successfully bid at 35%”<br />
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But, how is their system any different from platforms like Coupondunia or Dineout, which also offer coupons and discounts for restaurants?<br />
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“Apart from the fact that the user can bid for the discount they want and are not given an already decided upon discount, as is the case with Coupondunia or Dineout, they also do not have to present any coupon or voucher once their reservation is done. They simply need to go to the restaurant and we assure that the servers will know about you and your agreed upon discount. We also provide all of our services in real-time and that I think is the biggest differentiator,” Anirudh states.<br />
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It’s not only the customer who gains, Anirudh adds. The restaurant does too. “Through our services, they get in a lot more customers and in most cases retain them too.”<br />
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While the services are free for the users, Pocketin does a charge a fee from the restaurants based on the number of people who’ve dined at their establishment on a particular day.<br />
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“We’ve made a profit in every transaction till now, “he proudly reveals.<br />
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If that wasn’t enough good news, the team is also set to close in their first round of funding and have a lot of plans on the pipeline, including listing events, party and package deals and tying up with ToneTag to provide cashless payments which wouldn’t need a working internet connection!<br />
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This new app lets you directly negotiate for discounts with
restaurants in Delhi

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These matches are actually tiny LED flashlights that you can toss after they burn out

You Searched For "Pocketin" and got 3 results

Four month old startup Pocketin raises seed round funding of $150,000

BI India Bureau

This new app lets you directly negotiate for discounts with restaurants in Delhi

Poulomi Das

These matches are actually tiny LED flashlights that you can toss after they burn out

Brandt Ranj,Brandt Ranj

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