Retail Tech startup Daalchini has announced its first-ever ESOP (Employee Stock Option Programme) liquidation plan for its current and former employees. With the ESOP liquidation of approximately Rs. 1 crore, everyone associated with Daalchini has got rewarded under this initiative.
Nearly 21 current and former employees have benefited from the ESOP initiative across hierarchies including, VPs to hub managers. Daalchini's team members with vested options are eligible to take part in the repurchase and liquidate almost 100% of their vested shares if their options are vested as of April'2022.
Vidya Bhushan, Co-founder, and COO, of Daalchini Technologies, said, "We recognize and acknowledge the efforts and dedication of our resources towards Daalchini. We intend to encourage them to remain committed to the company and to grow. Through this initiative, we aim at paying back to our current and former employees for relentless efforts.
Prerna Kalra, Co-founder, and CEO, of Daalchini Technologies, stated, "Our aim is to have an employee-friendly culture at Daalchini. Personally, for me, ESOPs are an excellent wealth-creation instrument for employees, especially if one is working at an early-stage startup. It can create a win-win.
Daalchini intends to recognize and reward current and past employees for their support and contributions. For an early-stage startup, this comes as a great initiative post the recent funding announcement. The startup has raised $4 million in a Series A round led by Unicorn India Ventures. The round also saw participation from prominent and existing investors like Artha Venture Fund, Ajay Kaul - former CEO of Dominos India, and VSS Investco - the investment vertical of Vijay Shekhar Sharma - CEO of Paytm. So far, this is the largest round raised by a company in the smart vending machine segment.
About Daalchini
Daalchini is the brand of Daalchini Technologies, which makes your essentials accessible, anytime, and anywhere. It provides instant, affordable, 6-meals-a-day food options through IoT-enabled 'phygital' (physical+digital) vending machines. It serves 100+ start-ups, co-working spaces, large MNCs, hospitals, educational institutes, and residential complexes.
Daalchini is a brand of full-stack smart retail offerings that cater to on-the-go food consumption with a specialized supply chain designed to serve the 6-meal-a-day needs of our customers. Its product suite has a complete platform to launch vending machines, micro-markets, automated kiosks, and mobility solutions. Daalchini is present in 20+ cities in India. It has more than 2 lakhs monthly active users, 200+ franchise partners, and 160+ brands selling on its platform.
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