India, Feb. 12 -- A Coimbatore startup has distributed Rs.14.5 crore between 140 employees as a reward for their loyalty. Kovai.co, a Coimbatore-based SaaS firm, is earning plaudits on social media for basing its bonuses on loyalty rather than performance.

According to CNBC, Kovai was founded by Saravanakumar, a 48-year-old entrepreneur who belongs to Coimbatore but moved to London 25 years ago. Saravanakumar came up with the idea of launching his own AI business when he saw a gap in the market and decided to fill it himself.

He scaled Kovai.co as a completely bootstrapped startup whose annual revenue today stands at $15 million. Its total valuation is around $100 million.

The company recently gave Rs.14.5 crore to its long-term employ...