Myfirstcheque invests in Poshvine

MyFirstCheque, a seed fund which invests up to INR 2.5 million in startups and entrepreneurs at their inception stage, today announced its latest investment in PoshVine; an online destination where consumers can discover, reserve and enjoy unique dining and culinary experiences.

PoshVine, the online destination to discover, reserve and enjoy dining and culinary experiences, announced today a seed round capital raise from MyFirstCheque. The brainchild of Garima Satija and Richik Nandi, PoshVine™ combines the advantages of fast, free, instant reservations to upscale restaurants with insider benefits like price advantages or chef exclusives, and access to handpicked gastronomy experiences.

“Garima and I both come from a background where on the breakfast table, lunch was discussed and during lunch, dinner. Wherever we have stayed, we have explored the different food facets of the city. Online, information sites abound. But having travelled extensively, we knew there was an opportunity for a platform where foodies discover unique culinary experiences offered by passionate people in the community and which offers solutions for ‘everyday affluent’ consumers who want flexibility, choice and personalized service.” says Richik Nandi, Founder and Director, PoshVine.

PoshVine partners with premium restaurants, from the storied icons to upcoming gems and offers reserve dining experiences with insider benefits at these destinations. Benefits range from discreet savings on your entire bill to exclusive Chef’s Specials or PoshVine Rewards. The more you reserve your tables with PoshVine, the more you save and earn rewards.

The PoshVine team has also developed proprietary software called Electronic Reservation Book, which, among other things, acts as a distribution point for the restaurants’ digital storefront. In other words, it provides superior yield management solutions by monetizing a restaurant’s online traffic.

Currently operational in Bangalore, Chennai and Hyderabad, the company is looking to expand its footprint soon. “We will make use of our partnership with MyFirstCheque to increase our reach and coverage, and to design and deliver even more personalized experiences for our growing member base”, says Richik.

Read the Poshvine story HERE.