Frshr Technologies has built a variety of very interesting software products like Social Media App built on Hedera blockchain
Mr. Naren Lokwani
Frshr Technologies is a startup for startups! An off-beat software company to the core, Frshr Tech works with other startups and help them build software products of their dreams.
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Frshr Tech (https://www.frshr.tech) has built a variety of very interesting software products like Social Media App built on Hedera blockchain for their UK client, Identity management platform for their US client, Code sharing web app for their India client and Travel booking engine for their UK client, as some of their exciting projects.
Founder Story
The Founder and CEO of Frshr Technologies, Mr. Naren Lokwani is an MBA from IIM, Bangalore with 20+ years of work experience in the Software Industry.
Naren’s professional background in the last 20 years was of building several product startups and he had hired several employees in his previous startups who are still in close touch with him.
For this venture Naren picked a shortlist of his key associates with his previous venture and explained the idea of Frshr Tech to them. Fortunately, he was able to attract several good techies for their initial projects, which lead to a strong base for Frshr Tech’s subsequent hiring and team rampup.
Currently, Frshr Tech is a 35 people firm with strong software engineers, product managers, delivery leads, UX, software testing and management expertise.
Frshr Tech has been growing by over 50% in team size every year, and the team hopes to continue this trend for next several years.
Frshr Tech is Naren’s third venture and he says his previous ventures taught him several lessons in scaling teams and building businesses from scratch that he is able to utilize in this venture as well.
Naren says that he likes to think of himself as just 25 years old startup guy, and work with the same energy, however chronologically he is almost 42 years old now :-)
How Frshr Tech journey started
The idea for Frshr Tech came to Naren, when one of his Silicon Valley based friend called him up and mentioned that he has a startup idea, but no tech team to build the product. The idea was to create an Identity recognition mobile app for Individuals and Enterprises to verify their identity.
The US-based friend was really convinced by his idea, but was not sure how to go about setting up a team to build this product. Being a non-technical person, he was also not sure of which tech stack to choose, how to go about hiring people, how much will be the cost to build the product and how to support the product post initial release.
Naren says he clearly realized from this episode that there was a big latent need in the market for the services to help non-technical founders with their dream software product. Hence, Frshr Tech pivoted from being a Edutech venture to a Product Development Services venture.
Frshr Tech provides Product Development and Engineering Services to their startup clients from US, UK and India. The company helps build custom software products for startups and help them in building their dream product MVP (Minimum Viable Product) in a short period of time.
The road ahead
Naren mentioned that Frshr Tech is completely bootstrapped and profitable venture from day one! He keeps getting some inbound VC and Angel interest, but so far they have not given any serious thought to bringing external investors on board.
Frshr Tech is a company with solid references and track record. From the inception, the team has worked with client success as a key goal for themselves, and that has made all the difference.
Another solid reason which works in company’s favor is that they are experienced startup founders themselves. So at times, they understand the minute difference between what the client is saying and what he actually wants. They understand the client's needs well because they have been in similar shoes many times themselves. The key clients for the company are startups from the US, UK and India.
The key to building and scaling this business is between the two extremes of very expensive Software Services giants, and very low cost mom-and-pop services outfits.
The services provided at Frshr Tech are in various tech spaces as below:
- Product Development Services
- Enterprise Platforms
- Mobile App Development
- Blockchain & Cryptocurrency Development
- AI & ML Services
Frshr Tech’s process of delivering a software product MVP in 12 weeks differentiates them from their competition and helps them grow consistently.
Going ahead, Frshr Tech wants to establish offices in key countries in Europe like UK, France, Germany and few offices in the US to establish a nearshore experience for their clients. In next ten years, they want to grow Frshr Tech to a 1000 people company, with presence in several key cities in India. The founders see Frshr Tech building up as an aspirational brand and employer of choice for best colleges in India and abroad!
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