New Delhi
Kovai, an AI startup at Coimbatore, Tamil Nadu, has given a bonus of Rs 14 crore to its employees, which is a big dream for any startup. A total of 140 employees work in this company, and they have been given this bonus for their hard work and contribution. In 2011, Kovai was founded by a person named Saravanakumar. The company provides business-to-business (B2B) Saas Solutions. Saravanakumar fulfilled the promise made to his employees after 14 years and gave him this bonus.
Company name with big clients
Kovai Ko has big companies like BBC, Boeing and Shell as their customers. The company is named on the city of Coimbatore, where it started. Saravanakumar is a native of Coimbatore, although he has lived in London for the last 25 years.
Decision to start a startup
Saravanakumar said that he was an IT employee for more than a decade, but he felt something shortage in the market. He then decided to start a startup. This company is fully bootstraped and has not taken any external funding.
Employees gave a bonus of Rs 14 crore
Why has your startup given such a big bonus? So Saravanakumar said that people working in startup want to become rich one day, but often they only get paper shares. Saravanakumar promised his employees three years ago that he would give him a six -month salary bonus by January 2025. Now he fulfilled that promise and gave a bonus of Rs 14 crore.
The company’s revenue to reach $ 100 million
Saravanakumar also said that he wants to make Kovai Ko a unicorn. He plans to reach the company’s revenue by 2030 to reach $ 100 million. He also jokingly said that he has given up the idea of buying a Bugati car, and now he wants to use the same money to give bonus to his employees. It is an inspirational story of Startup and its founder Saravanakumar, who is not only establishing confidence with their employees, but also working towards bringing their startups to a new height.
