CHRONOFT TECHNOLOGIES PRIVATE LIMITED

In their own words

Chronoft Technologies is an Indian start up ICT Company headquartered in Thiruvananthapuram, Kerala founded by Shambu Govind O S and S Omanakuttan Nair. It is registered as a private limited company; incorporated on 30th November 2018 under Ministry of Corporate Affairs, Government of India. ‘Chrono’ suggests time and the mission is to transform the lifestyle of customers with our products. We propose to begin our foray into the field with, an online grocery application. Our aim is to become the best among all online grocery platforms and become a household name across the country in course of time. With proper funding we expect to generate annual turnover of 100 crores by December 2021. The online grocery industry has started picking up pace. Grocery retail in India is estimated to be over 60% of the country’s total retail market. Analysts peg it anywhere between $400 billion to $600 billion at present with the potential to cross $700 billion by 2022. Online grocery is still small, but analysts see it as having huge potential. It is estimated to be around $500 million to a little over $1 billion currently and expected to cross $3 billion to $5 billion or even much more over the next three to four years. The scope is so vast that aspiring entrepreneurs are assured of a legitimate space in this industry. A business can thrive, no matter how difficult the market is – but only if it stands its ground and continuously strives towards improvement. Grocery shopping is a routine task; it is generated from need, and not desire, or luxury for that matter. We are not talking about planning a vacation or dining in a fancy, posh restaurant; we are taking about something that needs to be done on routine basis. And yet, online penetration of grocery shopping lags far behind other sectors. It is here that we propose to make an entry and address the needs of the consumers to their advantage. The founders enjoy tremendous support in the media and social circles being family members of the renowned publisher P Govindapillai. This following can be converted into trust for the ventures involving them. Interest to start the project began from the realization about the lack of adequate grocery distribution system prevalent in Kerala. It is important to make the people aware of the latest trends to garner their support. The founder’s family background and social standing can be used advantageously to this end.

Written by the company on its public Startup India profile. Not verified by us.