Physical Queues Online Platform Sminq Secured USD$1M From Saama Capital, Blume Ventures & Others
Physical Queues Online Platform, Sminq running under Sminq India Solutions Pvt. Ltd, has secured USD $1 million (about INR 6.7 crore) from Saama Capital, Blume Ventures and other investors. Suresh Shanmugham, managing director of Saama Capital, will join Sminq’s board.
The raised capital will be used by the startup to get more services on the app and improve its technology offering.
This app gives real time queue information on the mobile which make your wait 100% transparent. It removes the need to be physically present to hold your spot and alerts you before 15 to 20 minutes when your turn is about to come.
SMINQ is an acronym for “See Me In No Queue”.
Physical Queues Online Platform Sminq was founded in July 2015 by Santhosh Nagarajan, Sheldon D’souza and Shachin Bharadwaj in Pune.
Bharadwaj and D’souza had earlier co-founded online food delivery startup TastyKhana.com, which was acquired by Foodpanda in November 2014.
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The 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.
“We have been in the market for close to 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,” said Bharadwaj, who is also the company’s CEO.
The company allows users that book appointments with doctors through its mobile app to predict the waiting time for consultation. It claims to have about 40 paying doctors using the app for their clinics in Pune.
The company charges a fee to be listed on Sminq and claims to drive 6,000 user bookings a month for clients.. “We are also looking to provide the same solutions across different verticals like spas, salons, car and bike service stations by the end of the next quarter,” Bharadwaj said.
The company charges clinics around Rs.2,000-5,000 per month for the listing. Users can also book appointments over the phone, clinics that subscribe to Sminq’s services provide updates to users through text messages.
Queueless Food Ordering App, SmartQ, has also raised Pre Series A round of funding in May 2016 led by YourNest Angel Fund.