Tag8 is India’s first comprehensive lost and found recovery services company.
Practically everyone loses something or the other at some point of time. The loss is even greater when there are memories, emotions and hard work attached to the lost valuable. The idea of tag8 emanated to address the increasing cost and time-consuming problem of valuable portable items being lost. Of the Rs 100 cr valuable things found at various Indian airports, only Rs 28 cr worth valuables find its way back to the owners. This number would be more staggering at the railways given the sheer number of people movement. The Churchgate Station in Mumbai alone is estimated to receive 50 valuables every day in its lost & found department but very few find its way back to the owner due to lack of identification and claims.
Tag8 helps to increase the probability of finding lost belongings and quickly & conveniently returning it to its rightful owner. tag8 combines the strength of unique tags, Reward Program, logistics, internet, mobile applications, digital maps and 24X7 customer support.
The endeavour to ‘Make Things Smarter’ drives the philosophy at tag8.
How It Works ?
The owner needs to simply buy and affix the tags on the valuable and register them @www.tag8.in. The specific categories catered to bags, passports, keys, gadgets and pets. In case the valuable is ever lost and is found by someone, tag8 arranges the pick up from the doorstep of the finder and returns it to the owner. The tag8 Reward Program offers certification, gift hamper and its own products as a reward to the finder. In addition, the owner can also reward the finder through the tag8 platform.
For more information, please Watch “How it works” video on www.tag8.in.
Tag8 believes that having mitigated the current key finder challenges through the ease of identification of the owner, convenience of return and the reward program, the probability of return will be significantly increased.
The experience so far
The tag8 return percentage at present is 40% across 12 categories of valuables. For passports, keys, ID cards, books the return rate is 80%+. Interestingly, 90% of the valuables were reported found within 4 hours of loss. The most fascinating data was the fact that 75% of people who returned are from middle or lower middle class of the society.
The general perception in India is that things once lost do not get returned. However, in reality, it’s more the lack of awareness and infrastructure that is hindering the return. The lost & found centres in India are overflowing with collected valuables that aren’t being claimed. Reader’s Digest in a recent study on integrity rated Mumbai as the second most honest city in the world, given the number of wallets that were returned.
We believe that our venture will play a pivotal role in changing the perception of India and also contribute significantly in strengthening the social fabric of the nation by promoting trust in the society and building community morale. This also dovetails well with the Honourable Prime Minister’s smart cities initiative.
About the Promoters
Tag8 was found by Sanjay Chakrabarti, ex-Senior Partner (41 years) and Alok Sheth, ex-Director (37 years) of Ernst & Young in 2014.
The founders have extensive experience in Management consulting and Business development. Founders have deep experience in advising companies in the area of business strategy, business transformation, supply chain transformation, operations improvement, and program management.They have advised business leaders from Industrial, Consumer, Renewable and Airline industries.They have experience of 35+ years between them.