Servitor is one of its kind, end to end solution platform to efficiently and smoothly run in-house operations of any dine-out place. Be it Fancy dine-ins, restaurants, pubs, cafeteria (corporate and private both), cafés, QSRs (Quick Service restaurants) etc. The word servitor comes from a Swedish translation of the word ‘Waiter’. Essentially, it eliminates the requirements of any waiter or a middle man and saves the hassle for standing in a queue in QSRs (Quick Service restaurants) for placing an order, and then standing again in the collection queue. It operates on QR code module, placed at each table to be scanned through Servitor application to get the soft menu, with recommendations using our Machine Learning algorithms, description and ratings against each dish to place an informed order without having any manual intervention. This derives 25-40% less time consumption for a user and saving approx 50% of labor costs for an outlet which eventually leads to bringing down the dish prices of that particular establishment.
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They have introduced multiple practical features as well to make it even more convenient for our users and increase the footfall of any outlet.
Such as pre-order, a user can place an order before even reaching to the restaurant, and will able to track user’s location in real-time in order to start preparing food in the timely manner, so that when a user reaches the outlet, he/she doesn’t have to wait for the food to be prepared or food is not cold from the time he/she has placed the order. Also, virtual seat selection, a user will be able to select a table of his choice from the virtual map of the restaurant. “One thing that we are very confident about the split-the-check feature. No more embarrassment of asking your group to only pay for what you have ordered, and not split the check by total order amount by no. of people. A user can pay for exactly what they ordered. So we are creating a seamless, end to end platform from the point where the user steps out of their home”. Said Team…
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Pranav Vaswani and Akash Bansal co-founded this company in late ’18. During that time we had met for some work and started going out a lot for dinner and drinks in Bangalore. They noted how especially in India restaurants were massively understaffed. And it was taking them at least 20 mins to place each order. And they gotten to think about the revenue restaurant must be losing because of high waiting time, which keeps tables occupied for a longer time. Hence, losing out on new occupants.
During that time interval itself, Pranav, Co-founder, thought of a rough solution for dine-in challenges and tweeted the same (our current model) to multiple potential competitors as a suggestion.
Once Pranav discussed this model with Akash, Co-founder, he outlined the challenges further and extended them to different fields and potentials which made the company what it is today. The next step was to understand the markets by conducting several surveys of both restaurants and customers to see the requirement of the product. They analyzed potential competitors and visited every merchant our competitor was operating with. After initial research, they were confident about their product and its uniqueness, which convinced them to protect their own intellectual property. Therefore, filed for the patent.
Akash Bansal is a Chartered Accountant by training and is in the final stage of CFA. He helped the company by setting up the first investment and by bringing more than 10 years of business expertise on the table. This helped us in not making the mistakes which startups usually do during their initial phase and expedite our journey. Akash has been running multiple successful ventures throughout his professional journey.
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Pranav Vaswani has done his studies in Mumbai, majoring in Finance and economics. Pranav was working on a cryptocurrency payment gateway. And to bring down the crypto to fiat currency conversion at almost 0% making it suitable micro and macro transactions. Pranav had worked on setting up the product and operations.
“We are currently working with 50+ merchants in Bangalore catering to 1000+ customers. We have brought down the restaurant operational cost by 35% at this stage. We are using data, to analyze the patterns and habits of customers to help in easing the operations of our partners. We have helped increase the footfall a given outlet by an average of 15-20%.” Said Team
They planned to achieve break-even by the end of 2019. To initially penetrate the market incurred operating losses by offering low commissions, discounts under marketing expenses. With the increasing delivery market, walk-ins still dominated by a huge margin in India by 70-30%. It was mostly because consumers these days have a little to dispose of in their day-to-day schedule. And 64% of the total crowd is youth to start with.
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The Company plan is to make the process so efficient and time-saving that it attracts more walk-ins and dine-ins. The Indian restaurant sector is projected to cross $85 Billion by 2022 and currently constitutes 2.1% of India’s GDP.
Message From Co-Founders
We are looking for a like-minded investor who believes in mission and vision. And be a part of the company not just by the numbers but to mentor and guide us to explore the full potential of this sector.
To conclude, our agenda is to redefine the way people dine and tap parallel industries such as hotel, hospitality etc.