We all must have hosted family of friends gathering at some point in time. Naturally, every host's goal is to make an event delightful for the attendees. Tosshead is a company that specializes in event management. This Bangalore-based firm is here to address all of your event-related woes by offering event packages and being India's first online platform for renting event equipment.TossHead got founded in 2018, and it is on a mission to make the complicated work of planning a flawless event as simple as possible.
Tosshead Startup - Key Highlights
- Startup Name - TossHead
- Founded - 2018
- Founder - Shank K Vasudev
- Sector - Event management
- Headquarter - Bengaluru
- Parent Organization – Tosshead Events India Private Limited
Tosshead Founder - Shank K. Vasudev
Tosshead was founded by Shank K. Vasudev. He worked for several organizations before starting Tosshead. He used to sell Philips accessories in his first employment, and his pay was only INR 1000. He also worked at BPL Mobile for two years, selling SIM cards. Note that rather than enrolling in a regular college, Shank enrolled in a correspondence course and earned experience at the same time.
Tosshead – Financing & Investments
In March 2019, Tosshead raised $3 million in seed funding from NRIs based in the United States. It was Tosshead's first funding round. Tosshead, which is now only available in Bengaluru, intends to use the money to expand to other major cities such as Delhi, Mumbai, Chennai, and Hyderabad over the next 6-12 months. A portion of the investments will also be used to enhance the company's technology.
Fun Fact : Tosshead has handled everything from intimate occasions to family gatherings to corporate gatherings and fashion shows. Over 10,000 events have been coordinated by the company so far.
Tosshead - Services
Tosshead is a one-stop-shop for all of your event planning requirements. Some of the services provided by the company are as follows:
- One can book event packages or event equipment online in only three clicks.
- It organizes various events, including DJ parties, karaoke, corporate conferences, annual days, award ceremonies, theme parties, marketing promotions, and sporting events.
- Tosshead also rents out everything needed for an event, including anchors, DJ machines, karaoke machines, LED walls, and other decorations.
Tosshead Business Model – Commissions
Tosshead's business model is B2B (Business 2 Business) and B2C (Business 2 Consumer). Their revenue model is straightforward. Tosshead takes a commission on every booking made on the platform.
Tosshead – Collaboration with OYO
Tosshead teamed with OYO in March 2019. OYO is India's largest and most popular hotel reservation platform. Users can now book banquet rooms through the Tosshead platform due to this cooperation.
Fun Fact : Over the next few years, the event management sector is predicted to increase at an exponential rate of over 25% y-o-y. The events sector in India is likely to cross INR 10,000 crore by 2020-21, according to EY-EEMA.
TossHead – Challenges Faced
- Technology - One of the company's most significant obstacles, according to Shank, was technology. The company had to face several problems to keep up with it initially.
- Competitors - Tosshrad is one of the new entrants in the market, and it has many competitors. Some of them perform exceptionally well on various levels, and they also have a good customer base.
TossHead - Competitors
Tosshed does have a lot of competitors that into the event management businesses that are prominent players and competing fiercely. Some of them are as follows:
- Cineyug Entertainment
- Cox and King,
- Fountainhead and others
Tosshead - Future Plans
Tosshead's plans are as follows:
- By the next 1-2 years, they plan to be in all of India's main cities.
- The company also wants to continue to add a lot of event-related information on the company's website.
- Tosshead will focus on getting more investors and increasing its customer base.