Biography of Manik Sehgal: Founder & CEO of Raasa Karts- Entrepreneur
Biography of Manik Sehgal:
A New Beginning
Manik Sehgal is the founder of Raasa Karts, an innovative
street food delivery app that aims to empower unorganized street food vendors
in India. His entrepreneurial journey took off after he participated in season
two of Shark Tank India, which inspired him to leave his corporate career and
pursue his passion for building something meaningful.
Educational Background
Manik holds an MBA from Annamalai University and also
completed a Postgraduate Diploma in Marketing Management. This strong
educational foundation in business and marketing equipped him with the skills
needed to navigate the challenges of entrepreneurship and brand building.
Career Transition
Before launching Raasa, Manik had a successful career in
marketing, including a role as Vice President of Business Strategy at Grapes
Worldwide. However, after a stint with Ford, which decided to exit the Indian
market, he faced a choice: continue in a comfortable corporate role or take the
leap into entrepreneurship. He chose the latter, driven by a desire to create
change.
The Birth of Raasa Karts
Founded in March 2022, Raasa Karts was born out of Manik's
vision to support street food vendors who often struggle without brand
recognition or the necessary resources. The company seeks to create an
ecosystem that helps these vendors grow their businesses and improve their
quality of life.
Empowering Street Food Vendors
Raasa's primary mission is to provide branding and support
to street food vendors in India. Many of these vendors lack proper licenses and
face challenges in reaching customers. Raasa aims to bridge this gap, enabling
vendors to enhance their income and work conditions.
Unique Selling Proposition
Raasa's unique selling point lies in its comprehensive
approach. By offering branding services, obtaining necessary licenses, and
facilitating onboarding onto popular food delivery platforms like Zomato and
Swiggy, Raasa helps vendors establish a strong market presence. This support is
crucial for vendors to thrive in a competitive environment.
Training and Development
In addition to branding, Raasa provides training under
professional chefs to improve vendors' culinary skills. This training allows
vendors to refine their offerings and expand their menus, ultimately attracting
more customers and boosting sales.
Biography of Manik Sehgal: Founder & CEO of Raasa Karts- Entrepreneur/age/net worth/investor/startup/empower unorganized street food vendors/Manik S
Business Model
Raasa operates on a business model that focuses on
empowering street food vendors. By providing them with a unique identity,
obtaining necessary licenses, and supporting their entry into food delivery
platforms, Raasa helps vendors increase their visibility and revenue potential.
Market Potential
The target market for Raasa includes unorganized street food
vendors across India, a sector worth an estimated INR 3.5 lakh crores annually.
With a fragmented landscape, Raasa sees a significant opportunity to create
impact and support thousands of vendors.
Gross Sales Journey
In its early days, Raasa reported gross sales of INR 40,000
in August 2022. While this number might seem modest, it reflects the company's
recent launch and early growth stage. As Raasa expands its network and
services, sales are expected to increase significantly.
The Shark Tank Experience
Manik and his co-founder, Vikas Sharma, appeared on Shark
Tank India seeking INR 50 lakh for 5% equity, valuing the company at INR 10
crores. The sharks showed interest, but concerns about the lack of a tech
co-founder arose. Eventually, they struck a deal with Anupam Mittal, securing
INR 50 lakh for 25% equity at a valuation of INR 2 crores.
Securing Investment
The funding received from Shark Tank was a pivotal moment
for Raasa. It not only provided the necessary capital for expansion but also
connected the founders with experienced investors who could guide them on their
entrepreneurial journey.
Expanding Vendor Support
With the support from investors, Raasa aims to further
expand its network of street food vendors. The company is committed to
improving the services it offers, helping vendors not only grow their
businesses but also create a sustainable ecosystem for street food.
A Vision for the Future
Manik's vision for Raasa is ambitious; he aims to connect
with 10 lakh vendors in three years and help them triple their incomes. This
goal reflects a deep commitment to transforming the street food landscape in
India and providing valuable resources to those who need them most.
Conclusion
Through Raasa Karts, Manik Sehgal is not just building a
business; he is creating opportunities for countless street food vendors across
India. His journey showcases the power of entrepreneurship to drive social
change and empower communities, proving that with the right support, anyone can
succeed.
A timeline highlighting Manik Sehgal's journey with Raasa
Karts:
Educational Background: Manik completes an MBA from
Annamalai University and a Postgraduate Diploma in Marketing Management,
building a solid foundation for his future endeavors.
Career Transition: Manik works in marketing, including a
role as Vice President of Business Strategy at Grapes Worldwide, before
deciding to pursue entrepreneurship after Ford exits the Indian market.
March 2022: Raasa Karts is founded with the mission to
empower unorganized street food vendors in India by providing branding,
training, and support.
Unique Approach: Raasa focuses on helping vendors obtain
licenses, improve culinary skills, and gain visibility on food delivery
platforms like Zomato and Swiggy.
Market Potential: The street food sector in India is valued
at approximately INR 3.5 lakh crores, presenting significant opportunities for
impact.
August 2022: Raasa reports gross sales of INR 40,000 in its
early stages, reflecting initial growth and market entry.
Shark Tank Experience: Manik and co-founder Vikas Sharma
appear on Shark Tank India seeking INR 50 lakh for 5% equity. They secure a
deal with Anupam Mittal for INR 50 lakh for 25% equity at a valuation of INR 2
crores.
Future Vision: Manik aims to connect with 10 lakh vendors in
three years, helping them triple their incomes and transform the street food
landscape in India.
2024: Through Raasa Karts, Manik Sehgal exemplifies how
entrepreneurship can drive social change and empower communities, creating
opportunities for street food vendors across the country.
