This Coimbatore-based AI start-up is rewarding employees with ₹14cr bonus
What's the story
Kovai.co, a Coimbatore-based artificial intelligence (AI) start-up, has recently shared a whopping ₹14 crore bonus with its 140 employees.
Founded by Saravana Kumar in 2011, the company offers business-to-business software solutions (SaaS). Kovai.co's customers include global giants like BBC, Boeing, and Shell.
Kumar, a 48-year-old IT professional from Coimbatore, moved to London 25 years ago. However, after spotting a gap in the market, he decided to start his own company in his hometown.
Company profile
Kovai.co's journey and product offerings
Kovai.co runs without any external funding and provides three major products: Turbo 360, Document 360, and Biztalk 360. These solutions reduce cloud costs by up to 30%, help companies manage help pages, and integrate backend apps like SAP and Salesforce on one platform respectively.
Revenue projection
Financial performance and future goals
Currently, Kovai.co earns an annual revenue of $15 million and is valued at about $100 million.
When asked why he chose to distribute such a huge bonus among his employees, Kumar said, "Why do people work in startups? They hope to become rich, but in most startups, employees get shares which are only on paper."
He added that he wanted to give something tangible to his employees who have been with the company for three years or more.
Aspiration
Kumar's promise and future aspirations for Kovai.co
Kumar kept his promise of rewarding long-term employees with a bonus of six months' salary in January 2025.
His end goal is to make Kovai.co a unicorn company by hitting $100 million in revenue by 2030.
This latest bonus distribution highlights his dedication toward his team and his ambitious vision for the company's future growth.