The idea behind Nexhop was born, when I was working in Toronto, Canada with my other co-founders Benny and Surajit.
The biggest problem Brick and mortar stores are facing today is losing their customers to online players like Amazon, Flipkart etc. It all started as a thought to support Brick & Mortar retailers to integrate modern technology into the sales processes so that they remain connected to their customers.
What is Nexhop all about? Tell us in detail about the services offered?
Nexhop is a retail technology and analytics company bridging the gap between retailers and their customers. We envision a technology platform supported by Mobile POS systems, cloud based order processing and smart inventory solutions backed by strong analytics for retail stores.
We provide retailers the required digital tools and analytics solutions so that they connect, engage and retain their customer in the fast moving online world.
What is your competition in the market? What is it that sets you apart from your competition?
There are players in the market solving different retail needs like payments, inventory management, cloud and analytics segment. However, we bring all under one roof for the retailer at a very affordable price.
What is the business model of Nexhop? Can you briefly summarize the growth achieved in both volume and value from the day1 till now?
We basically provide technology to brick and mortar stores for a small subscription amount. It depends on the store type, customer segment and the services they would like to use. Our technology is being used by more than 500 businesses in Bangalore and helps them to stay connected to 8000+ customers using the Android and IOS app.
5.How has been your beginner’s journey? What were the challenges you faced in setting up and scaling up your enterprise? Any hurdle that you faced or still facing?
It has been a roller coaster rides so far with abundance of learning Experiences.
Can you tell us about your other founders/core team, their background and rich experience?
Our core team consists of 10 members. Me with Surajit and Benny have worked together in Toronto before founding Nexhop. Priyanka and Sindhya were handling multiple projects in their previous roles. Litty, Divyesh & Tinto are pro Android and backend developers. Naveen, Manoj and Satish bring their 15+ years of business expertise to the team.
How are you all funded? Any early stage money/seed stage experience that you would like to share with us?
We are bootstrapped and generating revenue on monthly basis. Currently, team is looking at the growth with the next round of funding.
What will Nexhop look like in 10 years from now? All perspectives – people, business, revenues, team, size or anything you foresee for the venture.
With the Offline Retail segment expected to be a Trillion $ market by 2020, the scope of growth is limitless for us.
Any school/ campus-connect initiatives that you are pursuing or plan to pursue?
We have set up an incubation center in Vickram College of Engineering, Madurai to offer internship program to final year students and to ensure a steady inflow of tech talents to the company.
Any experience or advice you would like to share with soon to be start-up founders out there?
Be an entrepreneur, only if you are ready to experience the roller coasters ride in your life.