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    "}},{"contentType":"text","value":{"formats":{"header":2},"data":"Building customer trust takes time\n"}},{"contentType":"text","value":{"formats":{},"data":"Building a long-term and enduring relationship with your customer base is a vital factor to any business longevity. At the heart of these relationships is trust. When companies build trust, their customers automatically begin to advocate for them, leading to increased brand visibility, more customers and revenue.\n\nHowever, Kunal pointed out that while trust is incredibly effective, it’s also hard to build - particularly in a sensitive sector like finance. At Freo, India’s first credit-led neobank, Kunal notes that the process of building trust started from day one. Furthermore, he noted that transparency in communication was vital. At Freo, transparency is baked into the processes, privacy, and information sharing. Secondly, he advocated strongly for companies to own up when they made a mistake, apologise, and then rectify the mistake. Actions like these can improve customer interactions, while simultaneously building trust with the customer.\n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Going beyond customer acquisition\n"}},{"contentType":"text","value":{"formats":{},"data":"Avadhoot cited customer retention as one of the most important roadblocks that early-stage startups face when it comes to building a customer base. “Early-stage startups tend to place a lot of emphasis on acquiring new customers, without taking any further steps to build the relationship,” he said.\n\nHe spoke about the need to activate users, offer them the right onboarding experience, instead of letting the customer figure these processes out by themselves. He also spoke of personalising the customer experience and the need to help customers find the right products on the website / app. Finally, the third important challenge for startups to consider was creating a channel of communication with their customers beyond the first purchase. This, Avadhoot said, would require more than discounts and promotions to buy the next product. Instead, early-stage startups should build a more personalised conversation with their customers.\n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Frameworks to truly know your customers\n"}},{"contentType":"text","value":{"formats":{},"data":"Udayan spoke about different frameworks he uses to get to know his customers. One of the best frameworks to truly understand who the customer is the ICP (Ideal Customer Profile). The second framework, he discussed, was the Customer Journey Map - a diagram that depicts the phases customers undergo when interacting with a business. "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"“A customer journey map really helps you to understand what your customers are doing, while they're evaluating your product,"}},{"contentType":"text","value":{"formats":{},"data":"” he said. The final framework was JTBD (Jobs To Be Done). This approach develops products based on the understanding that the customer is looking to “hire” a product in order to fulfil their goal or complete their job.\n\nIn a fascinating analogy, Udayan likened customer churn to friendship. He said, before a friendship ends there will be all kinds of signs and behavioural changes that the friend exhibits. Customer churn, in this analogy, was the last attempt made to repair and resurrect the friendship. He recommended that companies should start fixing the problems in customer experience from the customer activation stage, and consistently make efforts to keep the spark alive in the relationship (or in this analogy, friendship) alive. Udayan also spoke about two key factors in customer churn - one is the conversations companies have with customers to determine if the churn reasons are solvable or not. The second is redoing campaigns, offering discounts and utilising tools like mixpanel to figure out where users are dropping off.\n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Leveraging hyper personalisation to solve consumer problems \n"}},{"contentType":"text","value":{"formats":{"italic":true},"data":"“At some level, hyper personalisation - like all powerful forces - can become a double edged sword, if not understood and implemented well,” "}},{"contentType":"text","value":{"formats":{},"data":"said Kunal. However, if hyperpersonlisation is leveraged correctly, companies will inevitably start focusing on the most relevant customer problems to solve, such as turnaround time, latency issues, actual customer experience interaction design, call to action, and how much time and energy the customer is spending with you in your product ecosystem.\n\nHe cited the example of Freo’s credit line, which is built on an in-house, intuitive chat-based system, built from scratch. Customers can chat in seven Indian languages or English. Although the system is not a full fledged AI system, it acts as a smart system in terms of understanding how to respond and guiding the customer in the right direction. However, Kunal also stressed that companies shouldn’t be too eager to use terms like hyper personalisation, unless they’re absolutely certain they can deliver these in-depth, customised experiences to their users.\n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Customers for a lifetime\n"}},{"contentType":"text","value":{"formats":{},"data":"According to Avadhoot, "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"“the key to lifetime retention is the experience brands create right from the first interaction, and then onwards”. "}},{"contentType":"text","value":{"formats":{},"data":"This is the force that drives many Netcore tools and solutions. Avadhoot cited the case of Khatabook, a book-keeping app for shop owners, where Netcore Cloud was able to create personalised, contextual experiences in the customer journey, therefore increasing retention rates.\n\nThe company was facing the challenge of a customer base that was not digitally savvy. Khatabook then approached Netcore Cloud to ensure that these merchants are activated as soon as possible. The app then used Netcore Cloud’s guided onboarding to ensure that the merchant was able to add their employee details, salary payments, staff views, and more. With just a few clicks, guided nudges, the app was able to accumulate roughly about three and a half times the amount of employee details filled in by the merchants.\n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Interactions over automation in the early days\n"}},{"contentType":"text","value":{"formats":{},"data":"Karan stated that in the early days of a startup, it is both tough and wrong to base any customer-related decisions on automation or AI. This was especially important when customers were trying to make improvements to a product based on customer feedback. Early-stage startups should focus on customer reasons for buying a product. He said, customers usually give companies one chance, so instead of using that on AI or automation, companies should opt for a more empathetic, human approach. Customers would be far more receptive to that, and would likely offer vital feedback to improve the product. When the company has confidence in the product, has taken customer feedback into consideration and tested it multiple times, they can start looking at automation.\n\nFrom learning different frameworks to understand and segment viewers, learning about churn, creating customised customer experiences to the use of automation and AI, this webinar is packed with incredible and helpful insights to help early stage startups retain and engage customers.\n\n"}}],"timeLapsed":"11th Apr 2022","publishedDate":"April 11, 2022"},{"id":240495,"title":"This B2C startup provides doorstep repair and maintenance services for two-wheelers ","slug":"pune-b2c-startup-doorstep-repair-maintenance-two-wheelers-garageworks","type":"RICH","subtitle":"Founded in July 2017, B2C startup GarageWorks leverages technology and data to standardise services and deliver a superior experience to two-wheeler owners – at their doorsteps. ","publishedAt":"2022-04-12T01:30:00.000Z","updatedAt":"2022-04-12T01:53:39.809Z","brand":{"name":"YourStory","slug":"yourstory","locale":"en_GB","path":"/"},"metadata":{"authors":[{"name":"Trisha Medhi","username":"trisha-1560924183","order":0,"path":"/author/trisha-1560924183"}],"category":{"id":394,"name":"Startup","slug":"ys-startup","path":"/category/ys-startup"},"excerpt":"Founded in July 2017, B2C startup GarageWorks leverages technology and data to standardise services and deliver a superior experience to two-wheeler owners – at their doorsteps. ","media":"https://images.yourstory.com/cs/2/e641e900925711e9926177f451727da9/CopyofImageTaggingNewBrandingEditorialTeamMaster3-1649674641233.jpg","thumbnail":"https://images.yourstory.com/cs/2/e641e900925711e9926177f451727da9/CopyofImageTaggingNewBrandingEditorialTeamMaster3-1649674641233.jpg","defaultThumbnail":"https://images.yourstory.com/cs/2/e641e900925711e9926177f451727da9/CopyofImageTaggingNewBrandingEditorialTeamMaster3-1649674641233.jpg","brandSpotlight":null,"removeAds":null,"curatedCategories":[],"sponsoredStory":null,"isRegistrationRequired":false,"timeToRead":5,"articleTopics":[],"richArticleTopics":[{"id":"991ea521-663e-11eb-b571-b76e0f3e580d","slug":"discover-new-startups","name":"Discover New Startups","type":"RICH-ARTICLE-TOPIC","order":0}],"tags":[{"name":"automobile","slug":"automobile","order":0,"path":"/tag/automobile"},{"name":"Indian two-wheeler market","slug":"indian-two-wheeler-market","order":1,"path":"/tag/indian-two-wheeler-market"},{"name":"GarageWorks","slug":"garageworks","order":2,"path":"/tag/garageworks"},{"name":"two wheeler repair and maintenance service","slug":"two-wheeler-repair-and-maintenance-service","order":3,"path":"/tag/two-wheeler-repair-and-maintenance-service"},{"name":"auto startups","slug":"auto-startups","order":4,"path":"/tag/auto-startups"}]},"snippets":null,"trailers":null,"path":"/2022/04/pune-b2c-startup-doorstep-repair-maintenance-two-wheelers-garageworks","featured":true,"mobilePostJson":[{"contentType":"text","value":{"formats":{},"data":"In 2015-16, numerous startups were coming up in the home services hyperlocal space, but "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Shishir Gandhi"}},{"contentType":"text","value":{"formats":{},"data":" and "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Prabudh Kakkar "}},{"contentType":"text","value":{"data":"were keen to solve automobile-related problems. The duo spent a year experimenting and understanding the challenges of customers and service providers. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“In a market of ~200 million two-wheelers, 80 percent of the aftermarket comprises unorganised vendors, mostly offline. However, customer preferences are shifting towards digital, convenience, and quality. The quantum of the opportunity excited us,” Shishir says."}},{"contentType":"text","value":{"data":"India is the largest two-wheeler market globally, with approximately 100 million two-wheeler visits  made to garages every quarter. \n\nAs a part of its experimentation phase, the founders learnt that people were not happy visiting workshops, and had concerns around quality of workmanship, spares, and local garages (with 80 percent of the market share comprising uneducated skilled manpower). \n\nShishir says vehicle management involves several aspects such as maintenance, wear and tear, spares, tyres, batteries, and insurance. However, unlike the car space, which has is a dedicated industry for each aspect, the two-wheeler segment always remained unorganised leading people to go from “point to point for resolving their two-wheeler issues”. \n\n“A lot of startups in the space were offering a tech platform to identify the nearest service provider, but they were still not addressing the pain point of the customer - convenience, quality, and standardisation. \n"}},{"contentType":"companyConnect","value":{"id":"13322f50-b024-11ec-931c-ab45c83a55d0","slug":"garageworks","name":"GarageWorks"}},{"contentType":"blockquote","value":{"formats":{},"data":"\"This is where GarageWorks found an opportunity to disrupt/re-engineer the existing ecosystem and offer 360°-at-your-doorstep services through a single digital interface,” he says."}},{"contentType":"text","value":{"formats":{},"data":"Founded in July 2017, Pune-based "}},{"contentType":"companyWidget","value":{"id":"13322f50-b024-11ec-931c-ab45c83a55d0","name":"GarageWorks","slug":"garageworks","logo":{"height":300,"width":300,"imageKey":"cs/images/companies/download361-1648642977275.jpg","url":"https://images.yourstory.com/cs/images/companies/download361-1648642977275.jpg"},"subtitle":"GarageWorks is a 360° solution for all you two wheeler need & in your parking.","foundingDate":"2017-01-01","companyURL":"https://yourstory.com/companies/garageworks","companyCoreTeam":[{"name":"Shishir Gandhi"},{"name":"Prabudh Kakkar"}],"sectors":[{"name":"Automotive","slug":"automotive"},{"name":"Services","slug":"services"}]}},{"contentType":"text","value":{"formats":{},"data":" leverages technology and data to standardise two-wheeler services and deliver superior experience at predictable cost and quality. \n\n“We offer a bouquet of services, including periodic maintenance, running repairs, accidental repairs, part replacements, tyres and batteries. Skilled technicians, genuine spares, and quality assurance are our core value proposition to customers,” says "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Shishir, CEO of GarageWorks"}},{"contentType":"text","value":{"formats":{},"data":".\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/e641e900925711e9926177f451727da9/Imagemh1u-1649673830893.jpg","caption":"\u003cp>GarageWorks Co-founders \u003cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Shishir Gandhi (L) and Prabudh Kakkar\u003c/span>\u003c/p>"}},{"contentType":"alsoRead","value":{"title":"With 100 transactions within two months of launch, GoBumpr aims to bring fair price and options for auto repair","thumbnail":"https://images.yourstory.com/cs/wordpress/2016/01/Yourstory-GoBumpr.jpg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2016/01/gobumpr"}},{"contentType":"text","value":{"formats":{"header":2},"data":"One-stop solution for two-wheelers\n"}},{"contentType":"text","value":{"data":"GarageWorks' expertise is in running asset-light operations through its unique doorstep framework. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"Shishir says that the startup has less than two percent of its revenue blocked in working capital/inventory (on an average, any dealer has at least 12-15 percent of its revenues blocked in inventory)."}},{"contentType":"text","value":{"formats":{},"data":"GarageWorks leverages technology to operate a hyperlocal supply chain of spares, which enables it to operate with 'zero' real estate. It currently caters to 200 service calls per day, with a four-member service delivery team (service advisors and supervisors).\n\n"}},{"contentType":"companyConnect","value":{"id":"13322f50-b024-11ec-931c-ab45c83a55d0","slug":"garageworks","name":"GarageWorks"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/e641e900925711e9926177f451727da9/Screenshot2022-04-11at4-1649673948215.png"}},{"contentType":"text","value":{"formats":{},"data":"Customers can visit their official website or use the Android app to select a preferred service/package and book an appointment. Based on the information shared by the customer, a technician is identified and assigned. \n\nTechnicians can see the cases assigned to them via a mechanic’s app. In case additional information is required, a technical advisor calls for further clarification. \n\n“Our supply chain arranges for the necessary spares that are sent to the technicians on the day prior to appointment. Technicians visit the customer site and deliver the service. Post the service, the customer takes a test drive and makes the payment. All customers get a seven-day workmanship warranty with a free follow-up visit,” Shishir says.\n"}},{"contentType":"companyConnect","value":{"id":"13322f50-b024-11ec-931c-ab45c83a55d0","slug":"garageworks","name":"GarageWorks"}},{"contentType":"text","value":{"formats":{"header":2},"data":"The team and traction\n"}},{"contentType":"text","value":{"data":"Both the founders met through a common friend in 2009.\n\nShishir, an IIT Delhi graduate, has worked with Automobile Alliances at ICICI Lombard GIC Ltd, and was a founder member at insuretech.in and at MyCare Health. \n\nPrabudh was associated with KPIT Infosystems Ltd, Headfitted, and XCaliber Technologies prior to joining GarageWorks.\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"At GarageWorks, which now has nine full-time employees, Shishir focuses on product, marketing, and F&A while Prabudh (CDO) looks after operations and service delivery."}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/e641e900925711e9926177f451727da9/IMG-0918-1649674250730.jpg","caption":"\u003cp>Team GarageWorks\u003c/p>"}},{"contentType":"text","value":{"data":"The B2C startup has close to 60 mechanics on board, and plans to launch the iOS version of the app in June this year. \n\n“Majority of our mechanics are sourced through word of mouth and the rest from blue-collared portals. Two-wheeler garages were one of the worst-hit businesses due to COVID. A lot of mechanics approached us post the lockdown, in search of business. Basis our growth, we are on-boarding them.” \n\nCurrently focused on metro cities where people are short of time and prefer doorstep convenience and quality, GarageWorks claims to have touched a user base of ~80,000 so far, delivering ~7,000 services monthly.\n"}},{"contentType":"companyConnect","value":{"id":"13322f50-b024-11ec-931c-ab45c83a55d0","slug":"garageworks","name":"GarageWorks"}},{"contentType":"blockquote","value":{"formats":{},"data":"The startup has generated a revenue of $1 million in FY22 as compared to $500,000  and $400,000 in FY21 and FY20 respectively."}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/e641e900925711e9926177f451727da9/StartupSnapshot2-1649674372316.jpg","caption":"\u003cp>YS Design team\u003c/p>"}},{"contentType":"text","value":{"formats":{},"data":"In February 2022, the "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"startup raised $1.5 million"}},{"contentType":"text","value":{"formats":{},"data":" led by Hiten Shah, Gowri Narayanan, Fred Towfigh as well as Abhijeet Kumar and Munendra Singh (ex-founders of BB Daily). Existing investors Dr Aniruddha Malpani, Pawan Sharma (ex-CEO of KPIT Technologies), Gautham Radhakrishnan, and  Gaurav Malhotra also participated in the round. \n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"The way ahead\n"}},{"contentType":"text","value":{"data":"GarageWorks aims to be the largest integrated ecosystem for two-wheelers with a global presence. \n\nCurrently operating in Pune, Mumbai, Bangalore, and Hyderabad,  the startup has launched a GarageWorks 2W Technician programme on the outskirts of Pune and plans to roll this out in seven more cities by end of this year. They launched their first batch of 23 students in February this year. \n"}},{"contentType":"companyConnect","value":{"id":"13322f50-b024-11ec-931c-ab45c83a55d0","slug":"garageworks","name":"GarageWorks"}},{"contentType":"blockquote","value":{"formats":{},"data":"In the future, leveraging its supply chain and tie-ups with brands, GarageWorks will be creating new marketplaces for people to purchase tyres, batteries, and spare parts, Shishir says. "}},{"contentType":"text","value":{"formats":{},"data":"“Our target is to acquire one million customers in the next 24 months. Post this threshold, we will build solutions around 360-degree offerings, enabling a user to avail any kind of service  for their two-wheeler.” \n\n"}},{"contentType":"companyConnect","value":{"id":"13322f50-b024-11ec-931c-ab45c83a55d0","slug":"garageworks","name":"GarageWorks"}}],"timeLapsed":"12th Apr 2022","publishedDate":"April 12, 2022"},{"id":240389,"title":"Kunal Shah leads the pack in FY22 pre-Series A investments with 58 deals","slug":"kunal-shah-pre-series-a-angel-investments-fy2022-indian-startups","type":"RICH","subtitle":"FY22 was a bumper fiscal year for Indian startups with early-stage funding accounting for 74.1 percent (1,210 deals) of the total deal count, while their value of nearly $4.41 billion accounted for 11.5 percent of the total funding inflow. \r\n","publishedAt":"2022-04-11T00:30:00.000Z","updatedAt":"2022-04-12T01:53:39.809Z","brand":{"name":"YourStory","slug":"yourstory","locale":"en_GB","path":"/"},"metadata":{"authors":[{"name":"Sindhu Kashyaap","username":"sindhu-kashyap","order":0,"path":"/author/sindhu-kashyap"},{"name":"Naga Nagaraju","username":"nagraj","order":1,"path":"/author/nagraj"}],"category":{"id":479,"name":"Analysis","slug":"ys-analysis","path":"/category/ys-analysis"},"excerpt":"FY22 was a bumper fiscal year for Indian startups with early-stage funding accounting for 1,210 deals, with CRED's Kunal Shah leading angel investments.","media":"https://images.yourstory.com/cs/2/220356402d6d11e9aa979329348d4c3e/angel-lead-1641123615707.png","thumbnail":"https://images.yourstory.com/cs/2/a09f22505c6411ea9c48a10bad99c62f/Imagecoyy-1649601024841.jpg","defaultThumbnail":"https://images.yourstory.com/cs/2/a09f22505c6411ea9c48a10bad99c62f/Imagecoyy-1649601024841.jpg","brandSpotlight":null,"removeAds":null,"curatedCategories":[],"sponsoredStory":null,"isRegistrationRequired":false,"timeToRead":3,"articleTopics":[],"richArticleTopics":[{"id":"991ecc30-663e-11eb-b571-b76e0f3e580d","slug":"ecosystem-insights","name":"Ecosystem Insights","type":"RICH-ARTICLE-TOPIC","order":0}],"tags":[{"name":"Pre-Series A funding","slug":"pre-series-a-funding","order":0,"path":"/tag/pre-series-a-funding"},{"name":"Kunal Shah","slug":"kunal-shah","order":1,"path":"/tag/kunal-shah"},{"name":"FY2022 Funding report","slug":"fy2022-funding-report","order":2,"path":"/tag/fy2022-funding-report"}]},"snippets":null,"trailers":null,"path":"/2022/04/kunal-shah-pre-series-a-angel-investments-fy2022-indian-startups","featured":true,"mobilePostJson":[{"contentType":"text","value":{"formats":{},"data":"FY 2021-22 was a historic fiscal year for the Indian startup ecosystem as a record "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"54 startups"}},{"contentType":"text","value":{"formats":{},"data":" were elevated to the $1 billion-plus valuation club, thus becoming "}},{"contentType":"text","value":{"formats":{"link":"https://www.unicornsofindia.com/"},"data":"Unicorns of India"}},{"contentType":"text","value":{"formats":{},"data":".\n\nWhile we laud billion-dollar valuations, and celebrate startups becoming soonicorns and decacorns, a significant chunk of the investment inflow in the fiscal gone by came from undisclosed and Pre-Series A deals, according to "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"YourStory"}},{"contentType":"text","value":{"formats":{},"data":" Research data. \n\nInterestingly, early-stage funding, like always, accounted for "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"74.1 percent (1,210 deals)"}},{"contentType":"text","value":{"formats":{},"data":" of the total deal count while their value of nearly "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"$4.41 billion"}},{"contentType":"text","value":{"formats":{},"data":" accounted for "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"11.5 percent"}},{"contentType":"text","value":{"formats":{},"data":" of the total deal value in FY 2022. \n\nThe good news is that FY2022 saw nearly "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"40 percent growth in funding"}},{"contentType":"text","value":{"formats":{},"data":", compared to $3.16 billion across 1,399 deals in FY21 – which suggests that the last fiscal saw a "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"15.6 percent dip"}},{"contentType":"text","value":{"formats":{},"data":" in the number of early-stage deals, which were 189 less than that of the previous fiscal.\n\n"}},{"contentType":"alsoRead","value":{"title":"Indian startup ecosystem closed FY22 with funding of $38.3B across 1,633 deals\r\n","thumbnail":"https://images.yourstory.com/cs/2/11718bd02d6d11e9aa979329348d4c3e/funding-YS-1649001014853.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/04/indian-startups-fy22-funding-38-billion-1633-deals-d2c-fintech-edtech"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Kunal Shah leading the roost\n"}},{"contentType":"text","value":{"formats":{},"data":"What is interesting is that among angel investors, "}},{"contentType":"companyWidget","value":{"id":"c919ab50-0ac1-11ea-b9b0-7b3f0fc9524f","name":"CRED","slug":"cred","logo":{"height":417,"width":417,"imageKey":"cs/images/companies/logosC2031575978376942png","url":"https://images.yourstory.com/cs/images/companies/logosC2031575978376942png"},"subtitle":"Cred offers rewards for paying credit card bills on time.","foundingDate":"2018-04-01","companyURL":"https://yourstory.com/companies/cred","companyCoreTeam":[{"name":"Kunal shah"},{"name":"Rahul Harkisanka"}],"sectors":[{"name":"Financial Services","slug":"financial-services"},{"name":"FinTech","slug":"fintech"}]}},{"contentType":"text","value":{"formats":{},"data":" Founder "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Kunal Shah"}},{"contentType":"text","value":{"formats":{},"data":" led the pack with most investments in FY2022. He made 58 deals of a total of 814 Pre-Series A deals –"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" accounting for 7.14 percent of the overall number of Pre-Series A deals. "}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"\u003cb>Out of the total 1,633 deals in FY2022, 814 Pre-Series A deals accounted for 49.85 percent of the number of deals, valuing over $1.1 billion (2.89 percent of the total value). Similarly, 175 Series A deals worth close to $2.33 billion (6.08 percent), accounted for 10.72 percent of the total number of deals in FY 2022.\u003c/b>"}},{"contentType":"text","value":{"formats":{},"data":"The last fiscal saw a healthy mix of venture capital funds and angels participating actively in early-stage deals. Apart from Kunal Shah, Inflection Point Ventures and Venture Catalysts made 39 deals each, accounting for 4.79 percent each of the total Pre-Series A deals.\n\nLets Venture and 9Unicorns made 36 deals each (4.42 percent each), Titan Capital made over 35 deals (4.30 percent), Better Capital invested through 30 deals (3.69 percent), Indian Angel Network made 23 deals (2.83 percent), Y Combinator made 21 deals amounting to 2.58 percent, Sequoia Capital India made 20 deals (2.46 percent), First Cheque made 20 deals (2.46 percent), Livspace Co-founder Ramakant Sharma made 19 deals (2.33 percent), and Mumbai Angels and Shaadi.com Founder Anupam Mittal invested in 17 deals each (2.09 percent each).\n"}},{"contentType":"alsoRead","value":{"title":"First 3 months of 2022 saw $10B+ funding across 482 deals, with 14 new unicorns","thumbnail":"https://images.yourstory.com/cs/2/d72b5ef09db411ebb4167b901dac470c/Image1b3g-1632908602096.jpg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/04/january-march-2022-quarter-funding-startups-unicorns-deals"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Sector push \n"}},{"contentType":"text","value":{"formats":{},"data":"In step with the overall funding in FY2022, the sectors that stood out among Pre-Series A deals were fintech, amounting to "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"$239.49 million"}},{"contentType":"text","value":{"formats":{},"data":" – which was 21.61 percent of the overall deal value. This was followed by "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"edtech"}},{"contentType":"text","value":{"formats":{},"data":" accounting for 9.81 percent, "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"healthtech"}},{"contentType":"text","value":{"formats":{},"data":" accounting for 6.63 percent, "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"D2C brands"}},{"contentType":"text","value":{"formats":{},"data":" accounting for 6.32 percent, and "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"SaaS accounting"}},{"contentType":"text","value":{"formats":{},"data":" for 6.06 percent of the $1.1 billion total Pre-Series A funding.\n\nWhile there may be talks of correction in the public markets and an impending slowdown in investment inflow due to global geopolitics, early-stage deals will continue to be resilient. As "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"GV Ravishankar"}},{"contentType":"text","value":{"formats":{},"data":", Managing Director, Sequoia Capital India said "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/01/sequoia-india-capital-vc-startup-funding-deals-investment-2022/amp"},"data":"in an earlier conversation with "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/01/sequoia-india-capital-vc-startup-funding-deals-investment-2022/amp","italic":true},"data":"YourStory"}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/01/sequoia-india-capital-vc-startup-funding-deals-investment-2022/amp"},"data":","}},{"contentType":"text","value":{"data":"\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“The corrections that are happening in the public markets started affecting how late-stage investors think about financing. The change will start with the public markets, and will later start showing in the newer IPOs that will be priced more moderately than they were last year and then it will start showing up in late-stage growth rounds over a period of time, and if that sustains, it will show in the early stages. The early-stage market is probably usually the most resilient with enough capital.”"}}],"timeLapsed":"11th Apr 2022","publishedDate":"April 11, 2022","editorsPickTitle":"Kunal Shah leads Pre-Series A investments of FY2022 with 58 deals ","editorsPickSubtitle":"FY2022 was a bumper fiscal year for Indian startups with early-stage funding accounting for 1,210 deals, with CRED's Kunal Shah leading angel investments.","editorsPickStartTime":"2022-04-11T00:30:00.000Z","editorsPickEndTime":"2022-04-11T03:30:00.000Z"}]},{"type":"dual-content","mainContainerType":"DualSectionHorizontal","bottomSectionDivider":"true","subSections":[{"title":"Startup Stories","subtitle":"Discover new, disruptive startups","dataAttribute":"ys-startup","clickCTA":"/category/ys-startup","clickText":"See More","containerType":"AnalysedSection","dataAPI":"/api/v2/category/stories/?slug=ys-startup&brand=yourstory&limit=4&skipFeatured=true&skipDontShowOnHomepage=true&greedy=true","discoverPath":"/search?category=Startup","colSize":8,"data":[{"id":240388,"title":"How this NIT alum went from selling panipuris to starting an EV rental business","slug":"nit-alum-selling-pani-puris-ev-rental-business-bijliride","type":"RICH","subtitle":"Bijliride is a Hyderabad-based electric scooter rental company addressing both climate control and economical travel options.","publishedAt":"2022-04-12T02:30:00.000Z","updatedAt":"2022-04-12T05:28:21.642Z","brand":{"name":"YourStory","slug":"yourstory","locale":"en_GB","path":"/"},"metadata":{"authors":[{"name":"Pooja Rajkumari","username":"pooja-rajkumari-39","order":0,"path":"/author/pooja-rajkumari-39"}],"category":{"id":394,"name":"Startup","slug":"ys-startup","path":"/category/ys-startup"},"excerpt":"Bijliride is a Hyderabad-based electric scooter rental startup addressing both climate control and economical travel options.","media":"https://images.yourstory.com/cs/2/0911f29093a911ec98ee9fbd8fa414a8/ImageTaggingPooja-1649591618844.jpg","thumbnail":"https://images.yourstory.com/cs/2/0911f29093a911ec98ee9fbd8fa414a8/ImageTaggingPooja-1649591618844.jpg","defaultThumbnail":"https://images.yourstory.com/cs/2/0911f29093a911ec98ee9fbd8fa414a8/ImageTaggingPooja-1649591618844.jpg","brandSpotlight":null,"removeAds":null,"curatedCategories":[],"sponsoredStory":null,"isRegistrationRequired":false,"timeToRead":5,"articleTopics":[],"richArticleTopics":[{"id":"991ea521-663e-11eb-b571-b76e0f3e580d","slug":"discover-new-startups","name":"Discover New Startups","type":"RICH-ARTICLE-TOPIC","order":0}],"tags":[{"name":"Hyderabad","slug":"hyderabad","order":0,"path":"/tag/hyderabad"},{"name":"Electric Scooter","slug":"electric-scooter","order":1,"path":"/tag/electric-scooter"},{"name":"Electric vehicle startups","slug":"electric-vehicle-startups","order":2,"path":"/tag/electric-vehicle-startups"},{"name":"Electric vehicle infrastructure","slug":"electric-vehicle-infrastructure","order":3,"path":"/tag/electric-vehicle-infrastructure"}]},"snippets":null,"trailers":null,"path":"/2022/04/nit-alum-selling-pani-puris-ev-rental-business-bijliride","featured":false,"mobilePostJson":[{"contentType":"text","value":{"formats":{},"data":"If you ask "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Shivam Sisodiya"}},{"contentType":"text","value":{"formats":{},"data":" about his earlier ventures before establishing an electric vehicles rental business, he is happy to recall how he sold the crowd favourite pani-puris on the streets and marriage halls of Hyderabad in 2017.\n\n“A friend and I designed a beautiful pani-puri cart. It was just for fun, but it caught a lot of attention because of its design and different flavours of"}},{"contentType":"text","value":{"formats":{"italic":true},"data":" ‘pani’. "}},{"contentType":"text","value":{"formats":{},"data":"While most pani-puri sellers gave chole inside the pooris, we were the very few who gave potato inside the puris. Once, we even got featured in a newspaper,” recalls Shivam.\n\nAn "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"NIT-Rourkela "}},{"contentType":"text","value":{"formats":{},"data":"alum, Shivam decided it was time to put his entrepreneurial skills to better use, while also banking on his experience working with Amazon as a product manager and business analyst, and looked at the burgeoning sector of sustainable transportation. He thus launched the interestingly titled "}},{"contentType":"companyWidget","value":{"id":"49d6be30-b95d-11ec-b2c6-539790e5db4b","name":"Bijliride","slug":"bijliride","logo":{"height":960,"width":960,"imageKey":"cs/images/companies/Bijliride-1649657306426.jpg","url":"https://images.yourstory.com/cs/images/companies/Bijliride-1649657306426.jpg"},"subtitle":"Bijliride is a start-up that provides Electric Mobility Rental solution with unique services.","foundingDate":"2020-06-01","companyURL":"https://yourstory.com/companies/bijliride","companyCoreTeam":[{"name":"Shivam Sisodiya"},{"name":"Aditya Sinha"}],"sectors":[{"name":"Automotive","slug":"automotive"}]}},{"contentType":"text","value":{"formats":{},"data":" in Hyderabad in 2020, an electric two-wheeler rental business tapping into the growing electric vehicles industry. \n\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Bijliride"}},{"contentType":"text","value":{"formats":{},"data":" offers daily, weekly, and monthly rental subscription services of electric vehicles across Hyderabad. Moreover, it also offers 24X7 customer service, on-road battery swapping within 30 minutes and minimal recharging costs at stations."}},{"contentType":"text","value":{"formats":{"bold":true},"data":" "}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/0911f29093a911ec98ee9fbd8fa414a8/ImageTaggingPooja7-1649603877162.jpg","caption":"\u003cp>Customers of Bijliride\u003c/p>"}},{"contentType":"alsoRead","value":{"title":"Bengaluru startup GoSats introduces Bitcoin Premier League amidst IPL tournament","thumbnail":"https://images.yourstory.com/cs/121/a0bad530ce5d11e9a3fb4360e4b9139b/ImageTaggingNewBrandingEditorialTeamMaster12-1649502299668.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/the-decrypting-story/bengaluru-web3-crypto-startup-gosats-bitcoin-premier-league-ipl-tournament"}},{"contentType":"text","value":{"formats":{"header":2},"data":"What works \n"}},{"contentType":"text","value":{"data":"While EV rental is not a new sector, Bijliride claims to differentiate itself from its competitors with its 24X7 service throughout the city.\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“We also provide an on-the-road battery swapping facility or come with another vehicle if required. Other players in the sector provide services only during the day hours,” adds Shivam."}},{"contentType":"text","value":{"formats":{},"data":"Bijliride’s business flourished from September 2021, after it bumped up its fleet to "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"60 vehicles"}},{"contentType":"text","value":{"formats":{},"data":" for which it tied up with Hero Electric. The company boasts a zero non-occupancy rate, indicating that each scooter stays at the station for barely two hours before the next customer arrives. \n\nBijlirides’ subscription packages are set at "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Rs 250 per day, Rs 1,300 per week and Rs 4,900 per month"}},{"contentType":"text","value":{"formats":{},"data":", with each subscription offering unlimited kilometres. \n\nA bootstrapped company, the founders have pooled in "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Rs 48 lakh"}},{"contentType":"text","value":{"formats":{},"data":" of their personal wealth in the company. With about 60 electric two-wheelers, the company has maintained a revenue rate of Rs 3.6 lakh per month, according to Shivam.\n\nAccording to a"}},{"contentType":"text","value":{"formats":{"link":"https://indiaesa.info/images/pdf/press_release/Press_release-Indias_EV_market_to_grow_at_CAGR_of_44_between_2020-2027._421564396.pdf"},"data":" report"}},{"contentType":"text","value":{"formats":{},"data":" by Energy India Storage Alliance, "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"the Indian electric vehicle market is projected toreach 15,398.19 billion by 2027, registering a CAGR of 44 percent between 2020 and 2027."}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/0911f29093a911ec98ee9fbd8fa414a8/StartupSnapshotPooja5-1649706797185.jpg"}},{"contentType":"alsoRead","value":{"title":"[The Turning Point] How Oxyzo stepped out of its parent company’s shadow with India’s largest ever Series A fundraise\r\n","thumbnail":"https://images.yourstory.com/cs/2/40d66ae0f37111eb854989d40ab39087/ImagesFrames36-1649423193276.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/04/turning-point-oxzyo-unicorn-financial-solutions-startup-ofbusiness"}},{"contentType":"text","value":{"formats":{"header":2},"data":"A solution for all\n"}},{"contentType":"text","value":{"formats":{},"data":"A majority of Bijliride’s customers are gig workers working as delivery partners for ecommerce platforms such as "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Amazon, Swiggy and Zomato"}},{"contentType":"text","value":{"data":". This also helps them spread the word through their communication channels.\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"Speaking on their marketing strategy, Shivam says, “We asked these gig workers to spread the word to contact us directly for rental details. We also pasted stickers with our contact numbers and rental details on the scooters. Essentially all our marketing was through word of mouth and stickers on scooters,” says Shivam."}},{"contentType":"text","value":{"formats":{},"data":"Another segment of customers includes corporate employees who do not want to spend huge amounts of money on office carpooling or other transportation facilities, and prefer these comparatively cheaper subscription plans. \n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"The team\n"}},{"contentType":"text","value":{"formats":{},"data":"Today, nearly two years after its inception, Bijliride’s team consists of "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"15 people"}},{"contentType":"text","value":{"formats":{},"data":" including Shivam. He recalls the early days when he had to be his own team.\n\n“Since Aditya was working in Bengaluru, he could not be here in Hyderabad all the time. I was doing everything on my own - I was the CEO, the station manager, handling the rentals, and everything that came along with those roles. Later, I hired someone who could fix EVs. Eventually, Aditya shifted base and we could now hire more people, at least as freelancers,” Shivam reminisces.\n\nThe startup now has about 10 on-ground staff who work on a shift basis to provide customer service to almost "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"90 unique customers"}},{"contentType":"text","value":{"formats":{},"data":" ever since it began its full-fledged operations.\n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Challenges along the way\n"}},{"contentType":"text","value":{"data":"One of the initial challenges that Bijliride faced was finding investors for the business and tying up with EV manufacturers. Shivam still feels that building connections in the corporate world requires significant effort and time.\n\nAnother significant challenge was ensuring the security of the vehicles. The startup took six months to develop a relay device system that allowed them to switch off the vehicle in case the scooter was being abandoned.\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“We had to ensure that the scooters are returned safely to the station and not abandoned on some road. A GPS tracking system was not sufficient to ensure this; anyone could find the GPS device on the vehicle and destroy it. We took six months to come up with a relay device system and find someone who knew how to fit this system in the vehicle,” Shivam says. "}},{"contentType":"text","value":{"formats":{"header":2},"data":"Future plans\n"}},{"contentType":"text","value":{"formats":{},"data":"With a market demand of 400-500 vehicles, Bijliride is planning to procure more vehicles in the near future to cater to the growing demand for two-wheeler EVs. It is also inching towards its seed round in the next few months. The team is also developing an app for easing the process of renting their vehicles. \n"}}],"timeLapsed":"12th Apr 2022","publishedDate":"April 12, 2022"},{"id":240416,"title":"This Chennai-based startup is helping brands find influencers quickly and securely ","slug":"pickmyad-helps-brands-find-influencers-quickly-securely","type":"RICH","subtitle":"Chennai-Based PickMyAd is an influencer marketing platform where brands can book their favourite influencers to promote their business.","publishedAt":"2022-04-11T04:48:27.729Z","updatedAt":"2022-04-11T04:48:38.730Z","brand":{"name":"YourStory","slug":"yourstory","locale":"en_GB","path":"/"},"metadata":{"authors":[{"name":"Ayshwaria Lakshmi","username":"ayshwaria-lakshmi","order":0,"path":"/author/ayshwaria-lakshmi"}],"category":{"id":394,"name":"Startup","slug":"ys-startup","path":"/category/ys-startup"},"excerpt":"Chennai-Based PickMyAd is an influencer marketing platform where brands can book their favourite influencers to promote their business.","media":"https://images.yourstory.com/cs/2/40d66ae0f37111eb854989d40ab39087/ImagesFrames37-1649649402818.png","thumbnail":"https://images.yourstory.com/cs/2/40d66ae0f37111eb854989d40ab39087/ImagesFrames37-1649649402818.png","defaultThumbnail":"https://images.yourstory.com/cs/2/40d66ae0f37111eb854989d40ab39087/ImagesFrames37-1649649402818.png","brandSpotlight":null,"removeAds":null,"curatedCategories":[],"sponsoredStory":null,"isRegistrationRequired":false,"timeToRead":4,"articleTopics":[],"richArticleTopics":[{"id":"991ea521-663e-11eb-b571-b76e0f3e580d","slug":"discover-new-startups","name":"Discover New Startups","type":"RICH-ARTICLE-TOPIC","order":0}],"tags":[{"name":"Influencer marketing","slug":"influencer-marketing","order":0,"path":"/tag/influencer-marketing"},{"name":"Chennai based startups","slug":"chennai-based-startups","order":1,"path":"/tag/chennai-based-startups"},{"name":"YouTube","slug":"youtube","order":2,"path":"/tag/youtube"},{"name":"Instagram","slug":"instagram","order":3,"path":"/tag/instagram"},{"name":"PickMyAd","slug":"pickmyad","order":4,"path":"/tag/pickmyad"}]},"snippets":null,"trailers":null,"path":"/2022/04/pickmyad-helps-brands-find-influencers-quickly-securely","featured":false,"mobilePostJson":[{"contentType":"text","value":{"formats":{},"data":"While the pandemic induced lockdown was a great disruptor for many existing businesses, it also led to the birth of new hobbies and business ideas. "}},{"contentType":"text","value":{"formats":{},"data":"\n\n"}},{"contentType":"text","value":{"formats":{},"data":"Friends since 2007, "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Prabu Dass, Sivakumar Selvaraj, Arun Pious and Aruljothi Kuppusamy"}},{"contentType":"text","value":{"formats":{},"data":" decided to open a YouTube channel as a hobby amid the lockdown. "}},{"contentType":"text","value":{"formats":{},"data":"\n\n"}},{"contentType":"text","value":{"formats":{},"data":"Pursuing the need to do something different and after several brainstorming sessions, the friends decided to take the Tamil phrase “Maathi Yosi” – meaning to think differently/think out of the box – as a motivation factor that brought them to ideate "}},{"contentType":"companyWidget","value":{"id":"0f4aa9b0-8597-11ec-b9a6-e148885d01c6","name":"PickMyAd","slug":"pickmyad","logo":{"height":1280,"width":1280,"imageKey":"cs/images/companies/cee3eacd9635-photo2020032120-1643964438382.jpeg","url":"https://images.yourstory.com/cs/images/companies/cee3eacd9635-photo2020032120-1643964438382.jpeg"},"subtitle":"World's first marketplace for brands to book social media influencers for paid collaboration.","foundingDate":"2019-10-06","companyURL":"https://yourstory.com/companies/pickmyad","companyCoreTeam":[{"name":"Prabu Dass"},{"name":"Aruljothi K"},{"name":"Sivakumar S"},{"name":"Arun Pious W"}],"sectors":[{"name":"AdTech","slug":"adtech"},{"name":"MarTech","slug":"martech"},{"name":"Marketplace","slug":"marketplace"}]}},{"contentType":"text","value":{"formats":{},"data":". "}},{"contentType":"text","value":{"formats":{},"data":"\n\n"}},{"contentType":"text","value":{"formats":{},"data":"According to Influncer Marketing Hub, the the global influencer market is expected to grow $16.4 billion in 2022 from $13.8 billion in 2021. "}},{"contentType":"companyConnect","value":{"id":"0f4aa9b0-8597-11ec-b9a6-e148885d01c6","slug":"pickmyad","name":"PickMyAd"}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“We noticed the changes and trends in influencer marketing,” Prabu Dass, CEO and Co-founder of PickMyAd, tells \u003cem>YourStory\u003c/em>. “At The same time, there was an increase in scam complaints from the brands of being cheated by the influencer and vice versa.” "}},{"contentType":"text","value":{"formats":{},"data":"This was all the spark the founders needed. "}},{"contentType":"text","value":{"formats":{},"data":"\n\n"}},{"contentType":"text","value":{"formats":{},"data":"Jumping into the all-new space, the founders identified several companies that were trying to build marketing platforms to work on campaigns. The idea was to stand out and also speed up the process – from the brand requirement to getting the right kind of influencer."}},{"contentType":"text","value":{"formats":{},"data":"\n\n"}},{"contentType":"text","value":{"formats":{},"data":"In June 2020, they founded Chennai-based "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"PickMyAd "}},{"contentType":"text","value":{"formats":{},"data":"– an influencer marketing platform where brands can book influencers to promote their business."}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"How it works?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"PickMyAd focuses on YouTube Influencers, with plans to add Instagram in the near future. "}},{"contentType":"text","value":{"formats":{},"data":"The startup has created a platform where influencers and brands can register themselves. Those registered undergo a verification process from the company. "}},{"contentType":"companyConnect","value":{"id":"0f4aa9b0-8597-11ec-b9a6-e148885d01c6","slug":"pickmyad","name":"PickMyAd"}},{"contentType":"text","value":{"formats":{},"data":"\n\n"}},{"contentType":"text","value":{"formats":{},"data":"After the registration, the brand can then book an influencer based on the YouTube time slots available, which would be provided by the influencer in their profile. The startup charges a 10 percent commission from the influencer and brand each – a total of 20 percent. "}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“We are trying to remove the hurdle for influencers where they are bombarded with requests,” explains Prabu. "}},{"contentType":"text","value":{"formats":{},"data":"Influencers registered on PickMyAd are provided with a public profile URL, which is then shared on their channel and can be used as their point of contact. "}},{"contentType":"text","value":{"formats":{},"data":"\n\n"}},{"contentType":"text","value":{"formats":{},"data":"“From the brand perspective, we ensure to protect their money. We kind of act as an escrow between the brand and the influencer. We aim to protect both,” he adds. "}},{"contentType":"companyConnect","value":{"id":"0f4aa9b0-8597-11ec-b9a6-e148885d01c6","slug":"pickmyad","name":"PickMyAd"}},{"contentType":"text","value":{"formats":{},"data":"\n\n"}},{"contentType":"text","value":{"formats":{},"data":"The company is working with 37 brands from Tamil Nadu such as Jinglebid, Ippopay, Giottus, 1hr Bazar, Podhini Diary, and Veg Route to name a few. "}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/40d66ae0f37111eb854989d40ab39087/PickMyAdFounders-1649649111731.jpg","caption":"\u003cp>\u003cem style=\"color: black;\">L-R - \u003c/em>\u003cem style=\"color: rgb(0, 0, 0); background-color: rgb(255, 255, 255);\">Aruljothi Kuppusamy, \u003c/em>\u003cem style=\"color: black;\">Prabu Dass, Sivakumar Selvaraj and Arun Pious\u003c/em>\u003c/p>"}},{"contentType":"alsoRead","value":{"title":"Straight out of college, this entrepreneur found his niche in connecting India’s top influencers and brands ","thumbnail":"https://images.yourstory.com/cs/2/40d66ae0f37111eb854989d40ab39087/ImagesFrames14-1643369157709.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/01/iplix-media-connects-influencers-brands"}},{"contentType":"text","value":{"formats":{"header":2},"data":"The team\n"}},{"contentType":"text","value":{"formats":{},"data":"The startup is a 16-member company, with six in the tech team, including the CTO Aruljothi. The founders completed their undergraduate studies in computer applications from Trichy. "}},{"contentType":"text","value":{"formats":{},"data":"\n\n"}},{"contentType":"text","value":{"formats":{},"data":"Prabu and Aruljothi were part of the founding team of Calibraint Technologies for six years before starting PickMyAd. "}},{"contentType":"text","value":{"formats":{},"data":"\n\n"}},{"contentType":"text","value":{"formats":{},"data":"COO Sivakumar joined them and they together founded Amwhiz Media, a software development and digital marketing company. "}},{"contentType":"text","value":{"formats":{},"data":"\n\n"}},{"contentType":"text","value":{"formats":{},"data":"Arun, Chief Strategy- Marketing at PickMyAd, was with Lynk Logistics for five years before he joined the other founders. "}},{"contentType":"companyConnect","value":{"id":"0f4aa9b0-8597-11ec-b9a6-e148885d01c6","slug":"pickmyad","name":"PickMyAd"}},{"contentType":"text","value":{"formats":{},"data":"\n\n"}},{"contentType":"text","value":{"formats":{},"data":"The Chennai-based startup has raised Rs 20 lakh from "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Start-up India Seed Fund"}},{"contentType":"text","value":{"formats":{},"data":" – out of which it has received Rs 8 lakh. It is also being mentored by Suresh Sambandam, CEO of KissFlow, a SaaS company. The company also has a strategic investor, Justin Beaudin, who is the CTO and Head of Media Operations of VUBIQUITY. "}},{"contentType":"text","value":{"formats":{},"data":"\n\n"}},{"contentType":"text","value":{"formats":{},"data":"Though the startup was founded in June 2020, it launched its platform only in January 2022. From 2020 to 2022, it had been working on its platform which overcame multiple obstacles – first from the pandemic that forced them to work remotely and then re-building the platform according to the changing needs and demands, explains Prabhu. "}},{"contentType":"companyConnect","value":{"id":"0f4aa9b0-8597-11ec-b9a6-e148885d01c6","slug":"pickmyad","name":"PickMyAd"}},{"contentType":"text","value":{"formats":{},"data":"\n\n"}},{"contentType":"text","value":{"formats":{},"data":"The startup has"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" onboarded over 900 influencers and has facilitated over 30 deals."}},{"contentType":"text","value":{"formats":{},"data":" As of now, the company is focusing on Tamil Nadu. "}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/40d66ae0f37111eb854989d40ab39087/StartupSnapshot14-1649649061204.png"}},{"contentType":"text","value":{"formats":{"header":2},"data":"The market \n"}},{"contentType":"text","value":{"formats":{},"data":"PickMyAd competes with companies like wobb.ai, "}},{"contentType":"companyWidget","value":{"id":"08c53fd0-cbe7-11ea-91f8-a1c9722113fb","name":"Qoruz","slug":"qoruz","logo":{"height":300,"width":300,"imageKey":"cs/images/companies/1346635817807849854743016680937798674039199n-1595400373250.jpg","url":"https://images.yourstory.com/cs/images/companies/1346635817807849854743016680937798674039199n-1595400373250.jpg"},"subtitle":"Qoruz is an influencer software for the new-age marketer.","foundingDate":"2015-03-01","companyURL":"https://yourstory.com/companies/qoruz","companyCoreTeam":[{"name":"Praanesh Bhuvaneswar"},{"name":"Prabakaran B"}],"sectors":[{"name":"SaaS","slug":"saas"},{"name":"Software","slug":"software"}]}},{"contentType":"text","value":{"formats":{},"data":", "}},{"contentType":"companyWidget","value":{"id":"9b3532a0-48fe-11eb-afc9-47176ae1be27","name":"Winkl","slug":"winkl","logo":{"height":1000,"width":1000,"imageKey":"cs/images/companies/Winkl-1609154492975.jpg","url":"https://images.yourstory.com/cs/images/companies/Winkl-1609154492975.jpg"},"subtitle":"Winkl is an influencer marketing platform.","foundingDate":"2017-06-01","companyURL":"https://yourstory.com/companies/winkl","companyCoreTeam":[{"name":"Nikhil Kumar"},{"name":"Thakur Rahul Singh"}],"sectors":[{"name":"Community","slug":"community"},{"name":"Social Media","slug":"social-media"}]}},{"contentType":"text","value":{"formats":{},"data":", oneimpression.io, and influencer.in. "}},{"contentType":"text","value":{"formats":{},"data":"\n\n"}},{"contentType":"text","value":{"formats":{},"data":"It addresses a TAM (total addressable market) of $15 billion, with an estimated 37 million influencers. Prabu explains that even if the company's serviceable addressable market is 1 million and with an average transaction value of $1,000. It would have a potential revenue of $9.6 billion. "}},{"contentType":"text","value":{"formats":{},"data":"\n\n"}},{"contentType":"text","value":{"formats":{},"data":"Though the company’s current focus is Tamil Nadu, it does have plans to venture into other states. "}},{"contentType":"companyConnect","value":{"id":"0f4aa9b0-8597-11ec-b9a6-e148885d01c6","slug":"pickmyad","name":"PickMyAd"}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“We have already started with Telugu influencers, and by the end of this year, we will be expanding pan India,” says Prabu. "}},{"contentType":"text","value":{"formats":{},"data":"“Financially, we are limited. We can not expand right away so we want to make some good success stories and then plan for an expansion,” he adds. “We also want to make sure that our system is stable enough before we venture out.”"}},{"contentType":"text","value":{"formats":{},"data":"\n\n"}},{"contentType":"text","value":{"formats":{},"data":"The startup is also planning to bring new features to its platform to enable a much easier and more attractive platform for influencers and brands. "}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"companyConnect","value":{"id":"0f4aa9b0-8597-11ec-b9a6-e148885d01c6","slug":"pickmyad","name":"PickMyAd"}}],"timeLapsed":"11th Apr 2022","publishedDate":"April 11, 2022"},{"id":240092,"title":"This Bengaluru-based AI-enabled startup helps identify and remove fake users","slug":"bengaluru-ai-startup-fake-users-trustcheckr-identity-fraud-cybercrime","type":"RICH","subtitle":"Founded in 2017, TrustCheckr is an AI-enabled tool that helps identify and remove fake users. The startup has a proprietary algorithm tested on 1 million+ data points and used in AI and ML in image comparisons. It assigns a trust score to the user based on phone number, Facebook id or email id.","publishedAt":"2022-04-11T01:15:00.291Z","updatedAt":"2022-04-11T13:39:25.168Z","brand":{"name":"YourStory","slug":"yourstory","locale":"en_GB","path":"/"},"metadata":{"authors":[{"name":"Minakshi Sangwan","username":"minakshi-sangwan","order":0,"path":"/author/minakshi-sangwan"}],"category":{"id":394,"name":"Startup","slug":"ys-startup","path":"/category/ys-startup"},"excerpt":"TrustCheckr is an AI-enabled startup that helps identify and remove fake users. The startup's proprietary algorithm tested on 1 million+ data points","media":"https://images.yourstory.com/cs/2/ba9e8080834311ec9e7e95cb06cf6856/TrustCheckrfinal-1649327099112.png","thumbnail":"https://images.yourstory.com/cs/2/ba9e8080834311ec9e7e95cb06cf6856/TrustCheckrfinal-1649327099112.png","defaultThumbnail":"https://images.yourstory.com/cs/2/ba9e8080834311ec9e7e95cb06cf6856/TrustCheckrfinal-1649327099112.png","brandSpotlight":null,"removeAds":null,"curatedCategories":[],"sponsoredStory":null,"isRegistrationRequired":false,"timeToRead":6,"articleTopics":[],"richArticleTopics":[{"id":"991ea521-663e-11eb-b571-b76e0f3e580d","slug":"discover-new-startups","name":"Discover New Startups","type":"RICH-ARTICLE-TOPIC","order":0}],"tags":[{"name":"TrustCheckr","slug":"trustcheckr","order":0,"path":"/tag/trustcheckr"},{"name":"IIFL","slug":"iifl","order":1,"path":"/tag/iifl"},{"name":"Bengaluru startup","slug":"bengaluru-startup","order":2,"path":"/tag/bengaluru-startup"},{"name":"ai in cybersecurity","slug":"ai-in-cybersecurity","order":3,"path":"/tag/ai-in-cybersecurity"}]},"snippets":null,"trailers":null,"path":"/2022/04/bengaluru-ai-startup-fake-users-trustcheckr-identity-fraud-cybercrime","featured":true,"mobilePostJson":[{"contentType":"text","value":{"formats":{"bold":true},"data":"Digital transactions"}},{"contentType":"text","value":{"formats":{},"data":" may have made our lives easier, but how many of us are tech-savvy enough to detect identity frauds ? \n\nHackers and cyber thieves have found several ways to fool internet users. Some fraudulent practices include identity theft, phishing, cloning, smishing and vishing. With mobile phone numbers commonly used to sign up to several websites, cyber fraudsters find it even simpler to wreck damage. \n\nSynthetic identity fraud is the fastest growing cybercrime in the world. It results when criminals fabricate fraudulent identities to establish new accounts or lines of credit. Synthetics are difficult to detect, costly and often misclassified. \n\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Bengaluru"}},{"contentType":"companyConnect","value":{"id":"fc553020-7a38-11ea-ab86-c1d89f0d1193","slug":"trustcheckr","name":"TrustCheckr"}},{"contentType":"text","value":{"formats":{},"data":"-based "}},{"contentType":"companyWidget","value":{"id":"fc553020-7a38-11ea-ab86-c1d89f0d1193","name":"TrustCheckr","slug":"trustcheckr","logo":{"height":300,"width":300,"imageKey":"cs/images/companies/72d3d9daf7a2-Screenshot20200326at12-1587459395871.jpg","url":"https://images.yourstory.com/cs/images/companies/72d3d9daf7a2-Screenshot20200326at12-1587459395871.jpg"},"subtitle":"TrustCheckr is a SaaS platform empowering organisations to grow their business with enriched data and derived insights.","foundingDate":"2016-04-01","companyURL":"https://yourstory.com/companies/trustcheckr","companyCoreTeam":[{"name":"Adhip Ramesh"}],"sectors":[{"name":"FinTech","slug":"fintech"}]}},{"contentType":"text","value":{"formats":{},"data":", launched by colleagues "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Adhip Ramesh"}},{"contentType":"text","value":{"formats":{},"data":" and "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Shivraj Harsha"}},{"contentType":"text","value":{"data":" in 2017, aims to solve this problem. An AI-enabled tool that helps identify and remove fake users, the startup has a proprietary algorithm tested on 1 million+ data points and used in AI and ML in image comparisons.\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“During the onboarding stage in any B2C/fintech companies, lots of fake/fraud profiles are created with synthetic phone numbers and email addresses with an intention to scam/fraud the systems. This is across industries including fintech, banks, crypto, dating, marketplaces, classifieds etc,” says Adhip Ramesh, Co-founder, TrustCheckr in a chat with YourStory."}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/ba9e8080834311ec9e7e95cb06cf6856/TrustCheckrfinal-1649327353219.png"}},{"contentType":"alsoRead","value":{"title":"[Funding roundup] Pi Beam Electric, Seekho.ai, UPCRED, TrustCheckr raise early-stage capital","thumbnail":"https://images.yourstory.com/cs/2/220356402d6d11e9aa979329348d4c3e/funding-shutter1-1648567691865.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/03/early-stage-funding-roundup-pi-beam-electric-seekhoai-upcred-trustcheckr"}},{"contentType":"text","value":{"data":"\n“This problem was leading to - user follow-up losses  via call centers, SMS, emails etc; unnecessary underwriting expenses; inefficient way of utilisation of marketing spends; and challenges in building a trusted community,” he adds. To beat these issues, Adhip’s startup assigns a trust score to the user based on phone number, Facebook id or email id. The company has already completed more than 10 million “TrustChecks” till date across seven clients.\n\nAlthough TrustCheckr’s solution can serve businesses across industries, including fintech, dating and ecommerce, it provides a cross-industry fraud insights platform for BFSI (banking, financial services and insurance sector) in particular.\n"}},{"contentType":"companyConnect","value":{"id":"fc553020-7a38-11ea-ab86-c1d89f0d1193","slug":"trustcheckr","name":"TrustCheckr"}},{"contentType":"blockquote","value":{"formats":{},"data":"“We also do AI-based social scanning across LinkedIn, Facebook, Twitter, Instagram, websites, deep web, news articles, alternate data sources etc., to understand the sentiments behind posts in real-time, extract key fraudsters information like name, email, phone, IP address and update real-time fraud data sets and risk scoring algorithm,” Adhip adds."}},{"contentType":"text","value":{"formats":{},"data":" Since TrustCheckr does social scanning for more than 1000 keywords and handles, it processes 50 million tweets to fetch the data and extract the fraud sentiments on social media.\n \nThe startup claims to provide simple REST APIs as Phone Risk API, Email Risk API, UPI Risk API, IP Address Risk API and Social Media Negative List. Representational state transfer (REST) is a software architectural style that was created to guide the design and development of the architecture for the World Wide Web. REST defines a set of constraints for how the architecture of an Internet-scale distributed hypermedia system, such as the Web, should behave.\n \nAlong with this, the startup is also due to launch the “TrustCheckr Alerts” platform to help fintechs, banks, credit bureaus, NBFCs get early warning signals about fraudsters online.\n"}},{"contentType":"companyConnect","value":{"id":"fc553020-7a38-11ea-ab86-c1d89f0d1193","slug":"trustcheckr","name":"TrustCheckr"}},{"contentType":"text","value":{"formats":{"header":2},"data":"The USP\n"}},{"contentType":"text","value":{"data":"According to Adhip, “We are pioneers in social scanning technology. We are different from our competitors based on - cross-industry fraud social scanning, custom built fraud analyser, custom built fraud data extraction modules, closed user group support and technology built for scale.” \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“Since the nature of the data we work with is complementary, we suggest all our clients to use our product first (pre-KYC checks) and then optimise the entire funnel of the customer onboarding,” he says."}},{"contentType":"text","value":{"formats":{"header":2},"data":" The team\n"}},{"contentType":"text","value":{"formats":{},"data":"Adhip and Shivraj were colleagues at strategy consulting firm called RedSeer Consulting.\n \nAn alumnus of IIM Lucknow, Adhip has previously worked with companies like Simplilearn, KPMG, ATK, and NetApp. Shivraj is an alumnus of University of Liverpool, UK, and has previously worked at I-Tiffin besides RedSeer.\n \nTrustChkr currently has a team of 10 full time employees and a couple of interns.\n \n"}},{"contentType":"companyConnect","value":{"id":"fc553020-7a38-11ea-ab86-c1d89f0d1193","slug":"trustcheckr","name":"TrustCheckr"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Funding and monetisation\n"}},{"contentType":"text","value":{"data":"The startup was initially bootstrapped with Rs 10 lakh, before raising Rs 45 lakh in an angel round from Rangsons LLP (Investment arm of NR Group) in 2018.\n \nIn March 2022, the firm secured Rs 6 crore from early-stage fintech fund IIFL Fintech Fund, with participation from Rangsons LLP as well. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“Our monetisation model is pay per API call. We offer two payment models. The first is the prepaid model, which is more suited for small companies where they buy 25,000 API calls upfront and can consume it depending upon their growth. The prepaid package starts with a minimum billing of Rs 1 lakh. In the second model, the startup enters an annual contract of around $25,000 with a well-established NBFC,” explains Adhip."}},{"contentType":"text","value":{"formats":{},"data":"The startup has delivered more than 10 million API calls till date.\n \n“Our MRR is around Rs 13.5 lakh to Rs 15 lakh. We expect to close FY 21-22 with a revenue of Rs 1.5 crore. We are able to breakeven with the current revenue flow. In the current fiscal, we expect to double the revenue,” states Adhip.\n"}},{"contentType":"companyConnect","value":{"id":"fc553020-7a38-11ea-ab86-c1d89f0d1193","slug":"trustcheckr","name":"TrustCheckr"}},{"contentType":"text","value":{"formats":{"header":2},"data":"The challenges\n"}},{"contentType":"text","value":{"data":"The startup’s journey has not been without challenges. For validation and underwriting of customers, the startup had only existing normative Aadhar combined bureau centric framework to resort to, which had its own set of cons. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“Though this frame ensured frictionless validation of the KYC process, it had its limitation, as it does not consider the digital id of a user. Which essentially meant that companies were not sure if both the digital id and physical id (Aadhar details) belonged to the same person. This left major chinks in its fraud prevention armour,” says Adhip. "}},{"contentType":"text","value":{"formats":{},"data":"“Our product was essentially a paradigm shift, hence, we had to educate our clients in the beginning. However, with the onset of the COVID-19 pandemic, there was a sudden spike in the number of fraud cases. Companies are now forthcoming about investing in products that augment their existing systems,” he comments. \n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/ba9e8080834311ec9e7e95cb06cf6856/trustCheckrsnap-1649327555098.png"}},{"contentType":"text","value":{"formats":{"header":2},"data":"The way ahead\n"}},{"contentType":"text","value":{"data":"As per industry analyst firm Aite Group, the cost of synthetic identity fraud is expected to reach $2.4 billion by 2023. \n \nAlthough TrustCheckr’s product is sector and geography agnostic, Adhip says, “our present geographic focus is in India. We started with the fintech sector, now we are looking to expand into the rental economy. Most of our established NBFC clients are either located in Mumbai or Delhi. Our new age fintech clients are in Bengaluru,” he adds.\n \nThe startup competes with the likes of Socure, Seon.io, Fraud.net and Threatmetrix among others.\n \nWith an active pipeline of 50+ clients including IIFL, Piramal, Snapmint, the startup will continue its thrust on the fintech sector.\n"}},{"contentType":"companyConnect","value":{"id":"fc553020-7a38-11ea-ab86-c1d89f0d1193","slug":"trustcheckr","name":"TrustCheckr"}},{"contentType":"blockquote","value":{"formats":{},"data":"“What we have explored now is just the tip of the iceberg. With the anticipated explosion of credit growth in coming years, a product like ours will ensure that companies can focus on their core activity of lending, leaving us the task of safeguarding them from fraudsters,” says Adhip."}},{"contentType":"text","value":{"formats":{},"data":"“In terms of expansion, we will continue to invest heavily in tech talent. In the immediate weeks, we are looking to hire 15 tech resources with a mix of full stack developers and data scientists. Our recent fundraise will give a runway for 15-18 months. We want to do 100 million TrustChecks per year in the next two years,” Adhip signs off.\n"}},{"contentType":"companyConnect","value":{"id":"fc553020-7a38-11ea-ab86-c1d89f0d1193","slug":"trustcheckr","name":"TrustCheckr"}}],"timeLapsed":"11th Apr 2022","publishedDate":"April 11, 2022"},{"id":240280,"title":"These pet parents launched an online platform for booking at-home veterinary services in Tier II regions","slug":"per-parents-launched-online-platform-book-at-home-veterinary-services-onpets","type":"RICH","subtitle":"The eight-month-long bootstrapped firm is touted to have 800 customers with a repeat rate of 27 percent. Onpets aims to have 6,000 users on its platform by the end of this year. ","publishedAt":"2022-04-10T01:30:00.000Z","updatedAt":"2022-04-11T04:14:49.391Z","brand":{"name":"YourStory","slug":"yourstory","locale":"en_GB","path":"/"},"metadata":{"authors":[{"name":"Prasannata Patwa","username":"prasannata-1618468559","order":0,"path":"/author/prasannata-1618468559"}],"category":{"id":394,"name":"Startup","slug":"ys-startup","path":"/category/ys-startup"},"excerpt":"The eight-month-long, bootstrapped firm is touted to have 800 customers with a repeat rate of 27 percent. Onpets aims to have 6,000 users on its platform by the end of this year. ","media":"https://images.yourstory.com/cs/2/d72b5ef09db411ebb4167b901dac470c/Imageodjn-1649433702935.jpg","thumbnail":"https://images.yourstory.com/cs/2/d72b5ef09db411ebb4167b901dac470c/Imageodjn-1649433702935.jpg","defaultThumbnail":"https://images.yourstory.com/cs/2/d72b5ef09db411ebb4167b901dac470c/Imageodjn-1649433702935.jpg","brandSpotlight":null,"removeAds":null,"curatedCategories":[],"sponsoredStory":null,"isRegistrationRequired":false,"timeToRead":4,"articleTopics":[],"richArticleTopics":[{"id":"991ea521-663e-11eb-b571-b76e0f3e580d","slug":"discover-new-startups","name":"Discover New Startups","type":"RICH-ARTICLE-TOPIC","order":0}],"tags":[{"name":"Onpets","slug":"onpets","order":0,"path":"/tag/onpets"},{"name":"Heads Up For Tails","slug":"heads-up-for-tails","order":1,"path":"/tag/heads-up-for-tails"},{"name":"preventive pet care","slug":"preventive-pet-care","order":2,"path":"/tag/preventive-pet-care"},{"name":"Sequoia Capital India","slug":"sequoia-capital-india","order":3,"path":"/tag/sequoia-capital-india"}]},"snippets":null,"trailers":null,"path":"/2022/04/per-parents-launched-online-platform-book-at-home-veterinary-services-onpets","featured":false,"mobilePostJson":[{"contentType":"text","value":{"formats":{"bold":true},"data":"Anirban Chanda"}},{"contentType":"text","value":{"formats":{},"data":" comes from a family of veterinary doctors. Hence, when his pets would fall sick or need any kind of health consultation, seeking veterinary intervention at any point in the day or night was never a problem for him. \n\n“Not every pet parent is that lucky when it comes to easy access to vets, especially in the tier 2 and tier 3 cities,” he says, in a chat with "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"YourStory"}},{"contentType":"text","value":{"formats":{},"data":". \n\nLooking at this gap as an opportunity, Anirban started "}},{"contentType":"companyWidget","value":{"id":"fe5472b0-a393-11ec-8591-b198a90de1a5","name":"Onpets","slug":"onpets","logo":{"height":380,"width":380,"imageKey":"cs/images/companies/Onpets-1647261748395.png","url":"https://images.yourstory.com/cs/images/companies/Onpets-1647261748395.png"},"subtitle":"Onpets is a Kolkata based integrated pet healthcare platform.","foundingDate":"2021-09-10","companyURL":"https://yourstory.com/companies/onpets","companyCoreTeam":[{"name":"Sandipan Guha"},{"name":"Anirban Chanda"}],"sectors":[{"name":"HealthTech / MedTech / Healthcare","slug":"healthtech-medtech-healthcare"}]}},{"contentType":"text","value":{"formats":{},"data":", a digital platform for pet owners through which they could book online or on-ground consultations with veterinarians. The platform also provides access to pet medicines. \n"}},{"contentType":"companyConnect","value":{"id":"fe5472b0-a393-11ec-8591-b198a90de1a5","slug":"onpets","name":"Onpets"}},{"contentType":"text","value":{"formats":{"header":2},"data":"The beginning\n"}},{"contentType":"text","value":{"formats":{},"data":"Run by "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Onpets Animal Care LLP., "}},{"contentType":"text","value":{"formats":{},"data":"the platform was launched in September 2021 by Anirban, who earlier worked at Airtel, and his friend Sandipan Guha, a computer engineering graduate. \n \n“Before starting in September, we spent at least five to six months researching, understanding and beta testing with a few users in the market,” says Anirban. The founders also spoke with at least 300 pet parents before rolling out their portal. \n\nKolkata-based Onpets currently caters to pet owners in the city and across nearby towns like Siliguri, Burdwan, and Guwahati in Assam, and Bhubaneswar in Odisha . \n\nTo facilitate home visits by veterinarians, Onpets has a team of veterinarians in every city they provide services in. While Kolkata has the biggest number of vets, 15, other cities where the platform is operational have at least 3-4 veterinary doctors on board. In all, 22 vets work with Onpets on a full-time basis along with four paravets or pet groomers. \n"}},{"contentType":"companyConnect","value":{"id":"fe5472b0-a393-11ec-8591-b198a90de1a5","slug":"onpets","name":"Onpets"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/d72b5ef09db411ebb4167b901dac470c/StartupSnapshot15-1649430793049.jpg","caption":"\u003cp>\u003cem>Credit: YourStory Design\u003c/em>\u003c/p>"}},{"contentType":"alsoRead","value":{"title":"Sequoia India’s Shailesh Lakhani explains the secrets of investing in Web3","thumbnail":"https://images.yourstory.com/cs/2/77e43870d62911eaa8e9879653a67226/800x400-InvestinginWeb3startups-aParadigmShift-1648189894605.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/the-decrypting-story/yourstory-metaverse-summit-shailesh-lakhani-sequoia-india"}},{"contentType":"text","value":{"formats":{},"data":"The vets and groomers, who work with Onpets, are hired as full time employees, claims Anirban, and do not practice with any other institution for the time being.  \n\nAccording to Anirban, all the veterinary doctors on board the platform are selected through a diligent process, with each vet having a minimum of four years of work experience among other educational qualifications. “To make our model successful, it is important to have the best professionals serving our users,” says Anirban. \n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Last-mile delivery and bubbling competition\n"}},{"contentType":"text","value":{"formats":{},"data":"Onpets also has its own last-mile delivery service to fulfill medicine orders as the firm wants to decrease the time it takes to deliver pet medicines. “Every city has a medicine distributor. So, we tie up with them and have our own personnel delivering the medicines,” says Anirban.\n\nMany cities in India as well as the world over saw pet adoption soaring during the pandemic. Social isolation due to lockdowns led to many resorting to adopt a furry companion. In India, the number of pet dogs alone are expected to reach 31.41 million by 2023 compared to 21.24 million in 2019, according to "}},{"contentType":"companyConnect","value":{"id":"fe5472b0-a393-11ec-8591-b198a90de1a5","slug":"onpets","name":"Onpets"}},{"contentType":"text","value":{"formats":{"link":"https://www.statista.com/statistics/1061130/india-population-of-pet-dogs/"},"data":"Statista"}},{"contentType":"text","value":{"formats":{},"data":". \n\nIt is little wonder then to see the sheer number of pet startups doing well in recent years. Heads Up for Tails, a Delhi-based pet food and grooming omni-channel firm, got a major boost during the pandemic, also attracting venture backing from Sequoia Capital India, among others.\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/b094ec506da611eab285b7ee8106293d/Imagezyk2-1616585402608.jpg"}},{"contentType":"alsoRead","value":{"title":"Kanpur-based Forfurs is tapping into India’s growing petcare industry with its premium products ","thumbnail":"https://images.yourstory.com/cs/4/211ccaf00e6d11e997fe8f165dce9bb1/Untitleddesign-2021-07-06T204353-1625584489638.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/herstory/2021/07/kanpur-forfurs-petcare-industry-india"}},{"contentType":"text","value":{"data":"Other startups in the pet space– including Pune-based Pawfect, Supertails, which is headquartered in Bengaluru and backed by Alteria Capital, and Ahmedabad-based Just Dogs, a pet product firm, and D2C pet care brand Wiggles also joined this burgeoning sector.\n\nAnirban claims, in the last eight months since its inception, Onpets has gained a user base of 800 customers with a 27 percent retention rate. The bootstrapped firm also expects to generate Rs 40 lakhs in revenue for FY2022-23, and aims to grow this number to 6,000 customers by the end of the financial year. \n"}},{"contentType":"companyConnect","value":{"id":"fe5472b0-a393-11ec-8591-b198a90de1a5","slug":"onpets","name":"Onpets"}},{"contentType":"blockquote","value":{"formats":{},"data":"“We also get requests from Bengaluru and Gurugram, among other metro cities, for online consultations. But we see a bigger gap in tier II and III three cities,” says Anirban. "}},{"contentType":"text","value":{"formats":{},"data":"In the near future, Onpets aims to expand its operations to Dispur and a few other towns in West Bengal. The startup is also aiming to reduce the time taken for last-mile delivery and looking to add more vets on the platform. \n\n“Currently, once a pet parent places a request, our veterinary doctors reach in two to three hours. We want to bring it down to 60-90 mins. Similarly, we want to bring down the medicine delivery time as well,” concludes Anirban. \n\n"}},{"contentType":"companyConnect","value":{"id":"fe5472b0-a393-11ec-8591-b198a90de1a5","slug":"onpets","name":"Onpets"}}],"timeLapsed":"10th Apr 2022","publishedDate":"April 10, 2022"}]},{"type":"content","title":"Daily Capsule","subtitle":"Read what's happening in the ecosystem today","dataAPI":"/api/v2/category/stories?brand=yourstory&slug=daily-capsule&categoryInfo=false&limit=1&offset=0&greedy=true","clickCTA":"/daily-capsule","dataAttribute":"daily-capsule","containerType":"DailyCapsuleV2","colSize":4,"data":[{"id":240540,"title":"Inside BharatATM’s financial inclusivity programme","slug":"bharatatm-financial-inclusion-programme-digit-insurance-pickmyad","type":"RICH","subtitle":"Launched in 2020 by Mahagram, BharatATM is a financial platform that helps kiranas and neighbourhood retail stores offer banking services to customers. \r\n","publishedAt":"2022-04-12T01:30:00.000Z","updatedAt":"2022-04-12T05:22:33.316Z","brand":{"name":"YourStory","slug":"yourstory","locale":"en_GB","path":"/"},"metadata":{"authors":[{"name":"Team YS","username":"webmaster","order":0,"path":"/author/webmaster"}],"category":{"id":1504,"name":"Daily Capsule","slug":"daily-capsule","path":"/category/daily-capsule"},"excerpt":"Launched in 2020 by Mahagram, BharatATM is a financial platform that helps kiranas and neighbourhood retail stores offer banking services to customers. \n","media":"https://images.yourstory.com/cs/2/a09f22505c6411ea9c48a10bad99c62f/Imagecq9o-1649700628191.jpg","thumbnail":"https://images.yourstory.com/cs/2/a09f22505c6411ea9c48a10bad99c62f/Imagecq9o-1649700628191.jpg","defaultThumbnail":"https://images.yourstory.com/cs/2/a09f22505c6411ea9c48a10bad99c62f/Imagecq9o-1649700628191.jpg","brandSpotlight":null,"removeAds":null,"curatedCategories":[],"sponsoredStory":null,"isRegistrationRequired":false,"timeToRead":4,"articleTopics":[],"richArticleTopics":[{"id":"991ecc33-663e-11eb-b571-b76e0f3e580d","slug":"general-news","name":"General News","type":"RICH-ARTICLE-TOPIC","order":0}],"tags":[{"name":"Bharat ATM","slug":"bharat-atm","order":0,"path":"/tag/bharat-atm"},{"name":"Financial inclusion","slug":"financial-inclusion","order":1,"path":"/tag/financial-inclusion"},{"name":"Digit Insurance","slug":"digit-insurance","order":2,"path":"/tag/digit-insurance"},{"name":"PickMyAd","slug":"pickmyad","order":3,"path":"/tag/pickmyad"}]},"snippets":null,"trailers":null,"path":"/2022/04/bharatatm-financial-inclusion-programme-digit-insurance-pickmyad","featured":false,"mobilePostJson":[{"contentType":"text","value":{"formats":{},"data":"Hello Readers, \n\nIn rural India, finance for women is still restricted to self-help groups, many of which have disbanded over the years due to negligence and a lack of substantial efforts to engage women in microfinance.\n\nTo remedy that and engage women in finance, neobank BharatATM launched a programme in March, called ‘Bank Sakhi’ (sakhi means female friend).\n\nWhat the startup does is essentially identify women in small towns and villages, partner with them, and onboard them on the "}},{"contentType":"companyWidget","value":{"id":"52a589f0-88a3-11ec-9f9a-5ddceefa244b","name":"BharatATM","slug":"bharatatm","logo":{"height":333,"width":333,"imageKey":"cs/images/companies/BharatATM-1644299626149.jpg","url":"https://images.yourstory.com/cs/images/companies/BharatATM-1644299626149.jpg"},"subtitle":"BharatATM is a leading neo bank application in India offering all the basic banking services 24*7 through the nearby retail stores.","foundingDate":"2015-06-01","companyURL":"https://yourstory.com/companies/bharatatm","companyCoreTeam":[{"name":"Ram Shriram"}],"sectors":[{"name":"Financial Services","slug":"financial-services"}]}},{"contentType":"text","value":{"formats":{},"data":" platform so they can start offering its services, such as withdrawal/deposits, bill payments, etc., from either their kirana stores, if they have one, or at people’s doorsteps.\n\nSo far, the company has enrolled around 11,230 women in the programme, across India. It piloted the project in Odisha, where it enrolled around 230 women in the programme.\n\nBut, why is BharatATM focussing on women?\n\nRam Shriram, CEO and Co-founder of "}},{"contentType":"companyConnect","value":{"id":"52a589f0-88a3-11ec-9f9a-5ddceefa244b","slug":"bharatatm","name":"BharatATM"}},{"contentType":"companyWidget","value":{"id":"dafc4e00-2d6f-11eb-91ab-0b12d11a1ae9","name":"Mahagram","slug":"mahagram","logo":{"height":400,"width":400,"imageKey":"cs/images/companies/Mahagram-1606124438653.jpg","url":"https://images.yourstory.com/cs/images/companies/Mahagram-1606124438653.jpg"},"subtitle":"Mahagram is a Mumbai based fintech startup","foundingDate":"2015-06-01","companyURL":"https://yourstory.com/companies/mahagram","companyCoreTeam":[{"name":"Ram Shriram"}],"sectors":[{"name":"Financial Services","slug":"financial-services"},{"name":"FinTech","slug":"fintech"}]}},{"contentType":"text","value":{"formats":{},"data":", the parent company of BharatATM, tells "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"YourStory "}},{"contentType":"text","value":{"formats":{},"data":"that even in households where men are sole earners, it’s women who handle most of the money in terms of expenditures related to grocery shopping and running the house. \n\n“We realised if we could enrol a few women and got them a savings account, they would help other women start their own accounts too,” Ram tells "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"YourStory"}},{"contentType":"text","value":{"formats":{},"data":". \n\n"}},{"contentType":"divider","value":{}},{"contentType":"text","value":{"formats":{"header":3},"data":"Editor’s Pick: Digit Insurance’s rise to unicorn status \n"}},{"contentType":"companyWidget","value":{"id":"b2e4aec0-89ec-11ea-a351-c7e9ff6cad36","name":"Digit Insurance","slug":"digit-insurance","logo":{"height":1667,"width":1667,"imageKey":"cs/images/companies/digit-1588146029360.png","url":"https://images.yourstory.com/cs/images/companies/digit-1588146029360.png"},"subtitle":"Digit Insurance is a financial services company established by Kamesh Goyal in 2016.","foundingDate":"2016-01-01","companyURL":"https://yourstory.com/companies/digit-insurance","companyCoreTeam":[{"name":"Kamesh Goyal"},{"name":"Vijay Kumar"}],"sectors":[{"name":"Financial Services","slug":"financial-services"},{"name":"Insurance","slug":"insurance"},{"name":"FinTech","slug":"fintech"}]}},{"contentType":"text","value":{"formats":{},"data":" sold its first policy in late-2017. Four years later, it became not only the first unicorn of 2021 but also the first insurtech startup to achieve the coveted billion-dollar valuation. Founder Kamesh Goyal charts his and the startup’s growth journey. "}},{"contentType":"companyConnect","value":{"id":"52a589f0-88a3-11ec-9f9a-5ddceefa244b","slug":"bharatatm","name":"BharatATM"}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/04/india-first-insurtech-unicorn-digit-insurance-growth-startup/amp"},"data":"Read more"}},{"contentType":"text","value":{"formats":{},"data":". \n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/a09f22505c6411ea9c48a10bad99c62f/Imagemvhb-1649699946974.jpg"}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"divider","value":{}},{"contentType":"text","value":{"formats":{"header":3},"data":"Startup Spotlight\n"}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/04/pickmyad-helps-brands-find-influencers-quickly-securely/amp"},"data":"Connecting influencers with brands"}},{"contentType":"text","value":{"formats":{},"data":"\n\nWith digital media on the rise, influencers and content creators have become prominent with a large following on social media. However, with influencer marketing still in nascent stages, many brands find it difficult to find the right influencer.\n\nTo solve this, Chennai-based "}},{"contentType":"companyWidget","value":{"id":"0f4aa9b0-8597-11ec-b9a6-e148885d01c6","name":"PickMyAd","slug":"pickmyad","logo":{"height":1280,"width":1280,"imageKey":"cs/images/companies/cee3eacd9635-photo2020032120-1643964438382.jpeg","url":"https://images.yourstory.com/cs/images/companies/cee3eacd9635-photo2020032120-1643964438382.jpeg"},"subtitle":"World's first marketplace for brands to book social media influencers for paid collaboration.","foundingDate":"2019-10-06","companyURL":"https://yourstory.com/companies/pickmyad","companyCoreTeam":[{"name":"Prabu Dass"},{"name":"Aruljothi K"},{"name":"Sivakumar S"},{"name":"Arun Pious W"}],"sectors":[{"name":"AdTech","slug":"adtech"},{"name":"MarTech","slug":"martech"},{"name":"Marketplace","slug":"marketplace"}]}},{"contentType":"text","value":{"formats":{},"data":" has created an influencer marketing platform where brands can book influencers to promote their business. "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/04/pickmyad-helps-brands-find-influencers-quickly-securely/amp"},"data":"Read more."}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/40d66ae0f37111eb854989d40ab39087/StartupSnapshot14-1649649061204.png"}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"divider","value":{}},{"contentType":"text","value":{"formats":{"header":3},"data":"News & Updates\n"}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/04/elon-musk-to-not-join-twitter-board/amp","list":"bullet"},"data":"Tesla and SpaceX CEO Elon Musk won't be joining Twitter's board"}},{"contentType":"text","value":{"formats":{},"data":", the social media platform's CEO Parag Agrawal said in a tweet. Musk, who owns 9.2 percent in the company, was supposed to join the Board on April 9."}},{"contentType":"companyConnect","value":{"id":"52a589f0-88a3-11ec-9f9a-5ddceefa244b","slug":"bharatatm","name":"BharatATM"}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{"list":"bullet"},"data":"A new report by PricewaterhouseCoopers (PwC) states that they believe "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/04/khatabook-ninjacart-potential-new-unicorn-club-entrants-pwc-report/amp"},"data":"India has at least 50 startups that can become unicorns by the end of 2022"}},{"contentType":"text","value":{"formats":{},"data":". Overall, the consultancy firm states the country should have at least 100 unicorns by year end."}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{"list":"bullet"},"data":""}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/04/glance-tv-launched-interactive-experience-android-inmobi/amp"},"data":"Glance has forayed into the television segment"}},{"contentType":"text","value":{"formats":{},"data":" as it aims to make Android smart TVs more interactive with two-way communication. This will be done through an interactive content platform for the home screen or screen zero of Android smart TVs."}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{"list":"bullet"},"data":"Just three days after announcing its India launch and Unified Payments Interface (UPI) integration, "}},{"contentType":"companyConnect","value":{"id":"52a589f0-88a3-11ec-9f9a-5ddceefa244b","slug":"bharatatm","name":"BharatATM"}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/the-decrypting-story/coinbase-india-suspends-upi-payments-crypto-exchange/amp"},"data":"Coinbase has halted UPI transactions on its app"}},{"contentType":"text","value":{"formats":{},"data":". The move came after The National Payments Corporation of India (NPCI) refuted Coinbase's claim of using UPI for crypto transactions."}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/the-decrypting-story/binance-in-principle-approval-abu-dubai-crypto-exchange-virtual-assets-adgm/amp","list":"bullet"},"data":"Binance has received In-Principle Approval (IPA) to operate as a broker-dealer in virtual assets in the Abu Dhabi Global Market (ADGM)"}},{"contentType":"text","value":{"formats":{},"data":". With the preliminary approval, the crypto exchange is one step closer to receiving final regulatory permission."}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"divider","value":{}},{"contentType":"text","value":{"formats":{"header":3},"data":"Before you go, stay inspired with… \n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/4/211ccaf00e6d11e997fe8f165dce9bb1/Designcopy32-1649498114116.png"}},{"contentType":"text","value":{}},{"contentType":"blockquote","value":{"formats":{},"data":"\"It doesn’t matter if the idea is novel or not, if there is market or not, if there is USP or not... if you are willing to learn and unlearn quickly, you will be successful even if the startup doesn’t succeed. And it will empower you and the people around you.\""}},{"contentType":"text","value":{"formats":{},"data":"– Priya Sharma, Founder, Learning Dino\n\n"}},{"contentType":"divider","value":{}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/newsletters?utm_source=wesbite&utm_medium=dailycapsule","italic":true},"data":"Now get the Daily Capsule in your inbox. Subscribe to our newsletter today!"}},{"contentType":"text","value":{"formats":{},"data":"\n\n\n \n"}},{"contentType":"companyConnect","value":{"id":"52a589f0-88a3-11ec-9f9a-5ddceefa244b","slug":"bharatatm","name":"BharatATM"}}],"timeLapsed":"12th Apr 2022","publishedDate":"April 12, 2022"}]}]},{"type":"content","dataAPI":"/api/v2/tag/stories?slug=creators-inc&locale=en_GB&limit=6","dataAttribute":"featured","cardType":"CarouselCard","containerType":"HomeFeaturedSection","containesSectionHeader":"true","title":"Creator's Inc","subtitle":"Fresh updates and stories about India's Creator Economy","data":[{"id":236720,"title":"The renaissance of Indian content | Deep inside the life and world of Tanmay Bhat ​","slug":"the-renaissance-of-indian-content-with-tanmay-bhat","type":"VIDEO","subtitle":"Hold tight as a serial entrepreneur, comedian, investor & one of Indian internet's OG creators Tanmay Bhat talk about 'The Renaissance of Indian Content' live with Shradha Sharma at Creators Inc.\r\n","publishedAt":"2022-03-14T07:21:02.858Z","updatedAt":"2022-03-16T12:21:55.299Z","brand":{"name":"YourStory","slug":"yourstory","locale":"en_GB","path":"/"},"metadata":{"authors":[{"name":"Team YS","username":"webmaster","order":0,"path":"/author/webmaster"}],"category":{"name":"YourStory","slug":"yourstory","locale":"en_GB","path":"/"},"excerpt":"Hold tight as a serial entrepreneur, comedian, investor & one of Indian internet's OG creators Tanmay Bhat talk about 'The Renaissance of Indian Content' live with Shradha Sharma at Creators Inc.\n","media":"https://images.yourstory.com/cs/2/07ae79b0d69b11e895f3c97c5f4684c5/TanmayBhat-05-1647242301532.png","thumbnail":"https://images.yourstory.com/cs/2/07ae79b0d69b11e895f3c97c5f4684c5/TanmayBhat-05-1647242301532.png?fm=png&ar=2:1&mode=crop&crop=faces","portraitThumbnail":"https://images.yourstory.com/cs/2/07ae79b0d69b11e895f3c97c5f4684c5/TanmayBhatinsta-08-1647242331640.png?fm=png&ar=3:4&mode=crop&crop=faces","defaultThumbnail":"https://images.yourstory.com/cs/2/07ae79b0d69b11e895f3c97c5f4684c5/TanmayBhat-05-1647242301532.png","brandSpotlight":null,"removeAds":null,"series":[{"id":266,"slug":"creators-inc-conference-2022","title":"Creators Inc Conference 2022","subtitle":null,"description":"The creator community’s time in the sun is here! 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The Trichy-born and Haryana-based digital content creator who studied journalism at Christ University, "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Ankit Sharma"}},{"contentType":"text","value":{"formats":{},"data":" is an early disruptor in the Indian creator economy, breaking into the relatively uncommon "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"automotive space"}},{"contentType":"text","value":{"formats":{},"data":" as a "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"photographer"}},{"contentType":"text","value":{"formats":{},"data":" and "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"videographer"}},{"contentType":"text","value":{"formats":{},"data":", eventually going on to chart his own destiny. \n\nWhile "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Man Made Machines"}},{"contentType":"text","value":{"formats":{},"data":" has carved its own space and identity — commanding "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"181,000 (and counting) followers on Instagram"}},{"contentType":"text","value":{"formats":{},"data":" — Ankit has had more of a happy-to-be-in-the-background profile. So far so good but not anymore.\n\nMarking his maiden and rare media appearance at the "}},{"contentType":"text","value":{"formats":{"bold":true,"italic":true},"data":"YourStory"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" Creators Inc conference 2022"}},{"contentType":"text","value":{"formats":{},"data":", Ankit was in between covering the prestigious "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Dakar Rally 2022"}},{"contentType":"text","value":{"formats":{},"data":". Which meant almost a month of being in the desert of Saudi Arabia, sleeping in cars and surviving on fruits. It was both the most fun and painful part of the project, Ankit says. “Creativity is not something that comes depending on the city, it just comes from within. I wouldn't say that it’s a calling or any of those cliched bits but it is something that you know you want to do, because once you do it, it's like an addiction, you get a taste of it, and you want more and more and more,” says the new-age creator. \n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/0e302530227f11ec9e19b7c38d296967/800x3686-1644930777354.png"}},{"contentType":"text","value":{"formats":{},"data":"\n\nHow does it feel to be on the top especially when one lives a dream of a lifetime for any "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"motorsport photographer"}},{"contentType":"text","value":{"formats":{},"data":"? “I've achieved the dream that I initially had when we used to have conversations in college, ‘Dude, I want to cover top motorsport athletes and this and that’. There's one thing that people used to say — and I never believed them — that when your dream comes true, it's going to scare you,” says the "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"23-year-old automotive influencer"}},{"contentType":"text","value":{"formats":{},"data":".\n\nDoes success extract its pound of flesh in return? “I'm not in the right space as I'm trying to figure things out. Because once you’ve reached the top, whatever it is that you have dreamt of, the next question is: "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"How are you going to sustain it? "}},{"contentType":"text","value":{"formats":{},"data":"Right now, I’m caught in that confusion, planning things, and working on how I can take this higher and higher. Even though I'm working every day, creating the stuff I always wanted to create, I'm questioning everything ahead. It's not not exactly a good space, but I'm in a peaceful state because the more I question myself, the more I know what I want to do. I think I'm in a good space and bad space at the same time,” explains Ankit.    \n\nThe "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"India automotive market demand"}},{"contentType":"text","value":{"formats":{},"data":" was pegged at "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"4,266,062 units"}},{"contentType":"text","value":{"formats":{},"data":" in 2019. The market is expected to expand at a "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"compound annual growth rate (CAGR) of 11.3%"}},{"contentType":"text","value":{"formats":{},"data":" from "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"2020"}},{"contentType":"text","value":{"formats":{},"data":" to "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"2027"}},{"contentType":"text","value":{"formats":{},"data":". According to statistics published in April 2018 by the European Automobile Manufacturers Association (ACEA), "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"India is ranked fourth in the top ten global car-producing countries"}},{"contentType":"text","value":{"formats":{},"data":". The country’s automotive sector is powered by the rising population, increasing disposable income, and ease of availability of credit and financing.\n\n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"\n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Camera, childhood and college\n"}},{"contentType":"text","value":{"data":"\n“I came from a city where photography was nothing, it didn't exist properly. And me being a Haryanvi in Tamil Nadu was a little complicated. For any creator, one major part would be to believe in yourself and like your work,” says Ankit, explaining what it takes to achieve your dream. \n\nWhen Ankit was in his eighth or ninth grade, he had persuaded his dad to give him a phone. It was a Vivo (then not well-known) with a 0.3 megapixel camera. He would go around and capture flowers and bits and pieces of nature. Additionally, his family owned a Kodak film camera. Like any other regular Indian family hailing from Haryana, which Ankit describes as being both “narrow-minded” and “open-minded” at the same time, Ankit’s family would visit temples during holidays. Ankit would venture into some self-styled street photography during those trips, photographing the ice cream vendor and others on the street. \n\n“When my dad would develop the film, he would see that there are a lot of useless images, which are not that of our family, and at that point of time the inner Haryanvi of my dad would come out, and he would say, ‘You're never touching the camera again’. That’s because I was ‘wasting’ a lot of film. I loved that mechanism of clicking an image, then rolling it, twisting it and pressing it,” recalls Ankit. \n\nLater, Ankit would also come across his neighbour’s digital Kodak camera. It had a 3x-4x zoom as well. “I would take that, water the garden and try to see if there were insects too. So, I think that's where it grew at that point of time (the passion for photography),” recalls Ankit. \n\nHe was 10 years old at that time. By the time he got to Class 10, Ankit was sure of what he wanted to do in life. His dad, he says, had zero hope but Ankit passed with 80 percent. Later, he managed to persuade his dad to get him a camera. It was for Rs 28,000 and this was a time when he had to do with 2g data, as the world has yet not had its tryst with 4g data.   \n\n“I would just set the screen timing for 30 minutes, pause a YouTube video, let it load for 25 minutes, come back and watch the video,” shares Ankit. \n\nAnkit did his schooling in Tamil Nadu, and he describes the rigorous school timings and the education system as “unwanted”. At some point of time, he was so disturbed that he had stopped going to school. \n\nAnkit wanted to join Christ University with two intentions and the first one was dissolved in a week’s time. “I wanted to go there to get to know the industry and build connections. Within the first week, I was aware that this is not going to happen,” says Ankit, adding that he had realised early enough that the education system, which could mean a million things for a million others, was not for him. \n\n“I think the sole reason I went to college was to make friends to understand how I can grow, even if it's on my own,” shares Ankit. He would go and meet different brands and communicate with people. His real learning happened in those three years when he got to understand the industry and its people, the ruthlessness included. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“When you're entering the creator space, it can be really difficult if you don't have a good portfolio or a solid work background. I'm happy that I did it in college because at that point of time, I had nothing to lose, I didn't have many things to take care of. It was best that people gave me a bad experience at that point of time as because of that bad experience in those three years, I knew what I shouldn't do when I got out of college,\" says Ankit.  "}},{"contentType":"text","value":{"formats":{},"data":"\nThere are like two ways to work in the industry. One is to follow how the industry works. The second is creativity, to follow your own instinct. You have to have a bit of both worlds — commerce and creativity, advises the "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"motorsports digital content creator"}},{"contentType":"text","value":{"formats":{},"data":". \n"}},{"contentType":"alsoRead","value":{"title":"How a blog started from a couch became a company: MissMalini’s tryst with Shah Rukh Khan and other Bollywood stars\r\n","thumbnail":"https://images.yourstory.com/cs/2/628912e0d7f211eb8e8307e5b6451cf7/MaliniAgarwal-01-1644632650962.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/02/creators-inc-goodglamm-missmalini-malini-agarwal-sharukh-khan"}},{"contentType":"text","value":{"formats":{},"data":"\n\n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"The Instagram advantage \n"}},{"contentType":"text","value":{"formats":{},"data":"“Instagram is super-crucial for me, because I’m not there just to earn followers. I’m there to build connections that I can't otherwise build if not for this platform,” Ankit explains, talking about the virtual friendship that he picked up with a fellow photographer from the Czech Republic. \n\n“So, this guy from Czech Republic, we had been on and off talking to each other about work and stuff for three years. And after three years, he asked me, ‘Dude, I love your work, would you want to join this rally? It was a huge jump for somebody like me, who had never covered any other rally,” shares Ankit, adding how is also covering the Formula Three Asian Championship in the United Arab Emirates (UAE). \n\nThe best part is there is no proper guidance, no one’s instructing you about angles and sides, says Ankit, sharing how it comes organically to him. He feels like he was born to do this. Eventually, he has proved to be the person who might be there at his first race, but whose content is hardly amateurish. \n\n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Riding on love - Mona Lisa and mean machines\n"}},{"contentType":"text","value":{"formats":{},"data":"\nWhat are the machines Ankit swears by? \n\n“If you would have asked me (this question) a year back, I would have probably told you a Land Rover Defender (ideal car) and a Honda Africa Twin (ideal bike). But now I don't think I need a bike or car ever! I'm pretty sorted because I'm working with so many different brands and different spaces that I get to experience all these cars and bikes courtesy of my work. I love them all,” says Ankit.  \n\nHe likens his “deep-rooted” love for bikes and cars to the human quest for art, something like the enchanting Mona Lisa painting. Art shouldn't have limitations, it should cross all limitations to encompass what it truly is. \n\nMotorcycles and cars are created with so much of love and passion, that it kind of reflects all the love. It’s an intangible feeling, from how it looks to how it feels, combined with how it rides and how it makes the rider feel as a person. It’s an intimate relationship. “That's something hard to explain: I've been doing this for so many years, but I can still explain it in a new way. It just keeps on going. There's always a new explanation of how beautiful these things are because when you're riding or driving, it's like, you don't want to think about the work, you don't want to think about all the mess that might be in your head. It's just you on the road in different locations. It's a beautiful thing,” elaborates Ankit. That's why Ankit is always on the move as he doesn't want to stagnate in one place and explore the same thing again and again.\n\n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"The road ahead\n"}},{"contentType":"text","value":{"formats":{},"data":"\n“I want to do a lot of motorsports. From the Instagram perspective, whatever content that I post regarding motorsport gets the least amount of likes, as opposed to the travel beat,” shares Ankit. MMM executes end-to-end campaigns for brands launching a new product or coming up with a new feature. As per the website, the MMM experience captures the bond between the human and the machine, providing a glimpse into their intertwined lives. \n\nWhen it comes to Man Made Machines, Ankit believes the journey has only started now. If one looks at the swelling over $100 billion market creator economy simmering with the potential of 50 million creators, creators are not only making content on social media platforms but monetising their content as well. This makes them first-of-a-kind content creators who are also creator-preneurs. \n\n“The economy for this particular sector is huge. I know the ins and outs on how much money a person can make through these social media platforms. It's super crazy. I wouldn't want to do a monthly job ever in my life and I know I can't do it anymore. So, that is the confidence that it gives you. And, yet at the same time, just because there is so much money in this sector, there comes a point where advertising and marketing agencies start instructing you. This is what has to go out. I don't take up 99 percent of the campaigns that I’m offered because they want me to do what they want because at the end of the day for me, it's not just about the money,” says Ankit.  \n\nIn a post shared on his Facebook page. Ankit writes: "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"“While I keep trying to make better images I find myself getting better as a human everyday, cameras have helped me learn lessons that no school, college could ever teach me. It's a curse and blessing at the same time. I have given all my time and money into making images and am scared about the future, but I still can't leave it even for an hour, and will do it all over again.” "}},{"contentType":"text","value":{"formats":{},"data":"\n\n“I think I wrote in 2018-2019. And it's still true. It's not something that's ever going to change. When I'm making an image, it’s as if one last image but there is no one last; it’s never the last,” signs off Ankit, heading for his next adventure.  \n\n"}},{"contentType":"text","value":{"formats":{"italic":true},"data":"Catch "}},{"contentType":"text","value":{"formats":{"link":"https://events.hubilo.com/CreatorsInc/login","italic":true},"data":"YourStory's Creators Inc conference here"}},{"contentType":"text","value":{"formats":{"italic":true},"data":"."}},{"contentType":"text","value":{"formats":{},"data":"\n\n"}},{"contentType":"text","value":{"formats":{"italic":true},"data":"For more on other key initiatives as part of the conference, visit our Creators Inc. website "}},{"contentType":"text","value":{"formats":{"link":"https://ys-events.yourstory.com/creators-inc-conference","italic":true},"data":"here"}},{"contentType":"text","value":{"formats":{"italic":true},"data":"."}},{"contentType":"text","value":{"formats":{},"data":"\n\n"}},{"contentType":"text","value":{"formats":{"italic":true},"data":"Recognising the burgeoning creator ecosystem and the new wave of entrepreneurship that comes with it, YourStory is celebrating the works of both established and emerging influencers in an initiative aimed at identifying, celebrating and accelerating the journey of digital creators who make extraordinary, unique and engaging content. We've partnered with Trell to bring you the Top 100 Creators challenge, which you can "}},{"contentType":"text","value":{"formats":{"link":"https://form.jotform.com/213540503530442","italic":true},"data":"apply for here"}},{"contentType":"text","value":{"formats":{"italic":true},"data":"."}},{"contentType":"text","value":{"formats":{},"data":"\n\n"}}],"timeLapsed":"23rd Feb 2022","publishedDate":"February 23, 2022"},{"id":234167,"title":"Creativity, technology, business – 40 quotes and tips on creator economy success from Creators Inc. 2022","slug":"creator-economy-success-quotes-technology-business","type":"RICH","subtitle":"The digital edge, creativity tips, and business advice – here’s what you need to thrive in the Creator Economy. 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Music is just a translation of what is going on inside me. - "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/02/india-internet-first-musical-find-ritviz-singer-creators-inc"},"data":"Ritviz Srivastava"}},{"contentType":"text","value":{"data":"\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"Being money minded is a bad phrase in India, but it's ok to chase financial freedom. - \u003ca href=\"https://yourstory.com/2022/02/creators-inc-tanmay-bhat-money-journey-advice-creators\">Tanmay Bhat\u003c/a>"}},{"contentType":"text","value":{"formats":{},"data":"We should all take a second in our lives and give gratitude to the doors that opened in our lives. - "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/02/creators-inc-shruti-haasan-on-her-famous-last-name"},"data":"Shruti Haasan"}},{"contentType":"text","value":{"formats":{},"data":" \n\nDon't just get inspired by virality, get inspired by content that reflects perfection, commitment, and a zeal to excel. - "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/02/creators-inc-conference-chef-ranveer-brar-recipe"},"data":"Chef Ranveer Brar"}},{"contentType":"text","value":{"formats":{},"data":"\n\n(Startup) founders are phenomenal. They are hardened by life and those kinds of people are amazing. - "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/02/creators-inc-tanmay-bhat-on-startups-angel-investing"},"data":"Tanmay Bhat"}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Creators-F2-1645386012073.jpeg"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Creativity tips\n"}},{"contentType":"text","value":{"formats":{},"data":"For every trendy piece of content, try having three original and organic pieces. - "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/02/creators-should-be-strong-salespersons-sakshi-sindwani-creators-inc"},"data":"Sakshi Sindwani"}},{"contentType":"text","value":{"formats":{},"data":"\n\nGossip is fun, but when you cross the line, it’s malicious. - "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/02/creators-inc-goodglamm-missmalini-malini-agarwal-sharukh-khan"},"data":"Malini Agarwal"}},{"contentType":"text","value":{"data":"\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"Sometimes, when you do one thing again and again, it gets monotonous. It happens with everybody. - \u003ca href=\"https://yourstory.com/2022/02/creators-inc-manish-pandey-mentor-coach-content-creators\">Manish Pandey\u003c/a>"}},{"contentType":"text","value":{"formats":{},"data":"Be sincere and diligent. Find your passion. Once you know what that is, it makes it very easy to actually start producing content that is going to resonate. - "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/02/creators-inc-creator-economy-good-glam-priyanka-gill-leveraging-content-commerce"},"data":"Priyanka Gill, The Good Glamm Group"}},{"contentType":"text","value":{"formats":{},"data":"\n\nThere's no formula to success. If we are talking about the numbers, it is the research, the patience, and the ability to evolve every time you are making content that matters. - "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/02/creators-inc-conference-ashish-chanchlani-creator-economy"},"data":"Ashish Chanchlani"}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"alsoRead","value":{"title":"[Year in Review] Meet these Indian women who used social media to drive change and social impact\n","thumbnail":"https://images.yourstory.com/cs/4/211ccaf00e6d11e997fe8f165dce9bb1/NewDesigncopy14-1640700625660.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/herstory/2021/12/year-in-review-indian-women-social-media-change"}},{"contentType":"text","value":{"formats":{},"data":"I don’t hesitate to talk to anyone today, and I’m ready to get insulted 100 times if it means I get to learn something new. - "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/02/creators-inc-standup-comedian-content-creator-zakir-khan-life-lessons"},"data":"Zakir Khan"}},{"contentType":"text","value":{"data":"\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"Spend some time offline, cultivate a skill and perform. - \u003ca href=\"https://yourstory.com/2022/02/creators-inc-why-mallika-dua-doesnt-like-being-called-an-influencer\">Mallika Dua\u003c/a>"}},{"contentType":"text","value":{"formats":{},"data":"Content virality and perenniality will always have to work together. Your content goes viral, people go to your page and then they see okay, everything else is not so great, it doesn’t work. - "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/02/creators-inc-conference-chef-ranveer-brar-recipe"},"data":"Chef Ranveer Brar"}},{"contentType":"text","value":{"formats":{},"data":"\n\nNo matter what you make, no matter how successful it is, you can't keep on banking on it. Create new things, be honest to yourself and be confident. - "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/02/creators-inc-a-day-in-the-life-of-youtuber-ashish-chanchlani"},"data":"Ashish Chanchlani"}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Creators-F3-1645386282257.jpeg"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Business tips\n"}},{"contentType":"text","value":{"formats":{},"data":"Until you start behaving like a brand, a brand will not take you seriously. - "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/02/creators-inc-conference-chef-ranveer-brar-recipe"},"data":"Chef Ranveer Brar"}},{"contentType":"text","value":{"data":"\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"Whether you are a creator, journalist, or chef, there is a route to wealth. You just have to grind on and think about what is it. - \u003ca href=\"https://yourstory.com/2022/02/creators-inc-tanmay-bhat-money-journey-advice-creators\">Tanmay Bhat\u003c/a>"}},{"contentType":"text","value":{"formats":{},"data":"Is this project financially worth it? Is it helping me reach new people, a new audience? Am I able to learn something new? If the project checks even 2.5 of the 3 boxes, I will take the opportunity. - "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/02/creators-inc-standup-comedy-zakir-khan-unemployment-accountability"},"data":"Zakir Khan"}},{"contentType":"text","value":{"formats":{},"data":"\n\nThere is no industry benchmark scale to follow, it all depends on the brands, the problem they are facing, want to solve, and what is their desired outcome. - "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/02/agencies-brands-influencers-creators-collaborations-talent-management-creators-inc"},"data":"Gunjan Arya, Only Much Louder"}},{"contentType":"text","value":{"formats":{},"data":"\n\nTo start with, only collaborate with brands that you resonate with and learn to say no. - "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/02/creators-should-be-strong-salespersons-sakshi-sindwani-creators-inc"},"data":"Sakshi Sindwani"}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"alsoRead","value":{"title":"[2022 Outlook] From contactless menus to automation, 5 trends shaping the future of restaurant industry ","thumbnail":"https://images.yourstory.com/cs/21/604090802d6d11e9aa979329348d4c3e/1-1640549713214.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/smbstory/year-in-review-2021-from-contactless-menus-to-auto"}},{"contentType":"text","value":{"formats":{},"data":"Integrating "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"ads inside a video "}},{"contentType":"text","value":{"formats":{},"data":"is big money but you need to know the balance as people will identify it as paid content. There are multiple sources of revenue like live chat and memberships for channels, but do it ethically. - "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/02/creators-inc-breaking-language-barrier-south-india-youtuber-kokru-madan-gowri"},"data":"Madan Gowri"}},{"contentType":"text","value":{"formats":{},"data":"\n\nHaving a proper "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"marketing technology practice or analytics tools "}},{"contentType":"text","value":{"formats":{},"data":"not just helps you save costs but also understand if you are reaching the right audience. Face value is not enough. - "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/02/agencies-brands-influencers-creators-collaborations-talent-management-creators-inc"},"data":"Praanesh Bhuvaneswar, Qoruz"}},{"contentType":"text","value":{"formats":{},"data":"\n\nCreators who are not managed are sometimes pushed into"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" signing binding contracts "}},{"contentType":"text","value":{"formats":{},"data":"or are made to sign documents over reasons like clearance of invoices and all. We need to be more cautious. - "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/02/agencies-brands-influencers-creators-collaborations-talent-management-creators-inc"},"data":"Aayush Tiwari, Monk Entertainment"}},{"contentType":"text","value":{"formats":{},"data":"\n\nCelebs influencers will not work in future. We "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"(agencies)"}},{"contentType":"text","value":{"formats":{},"data":" need to be more open to ideas and creativity as things will soon start getting saturated. - "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/02/agencies-brands-influencers-creators-collaborations-talent-management-creators-inc"},"data":"Shubham Singhal, Dot Media Solutions"}},{"contentType":"text","value":{"formats":{},"data":"\n\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Invest "}},{"contentType":"text","value":{"formats":{},"data":"in budding creators because you never know who will blow up next. - "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/02/agencies-brands-influencers-creators-collaborations-talent-management-creators-inc"},"data":"Sankalp Samant, Idiotic Media"}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Failure3-1645386068799.jpg"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Challenges and resilience\n"}},{"contentType":"text","value":{"formats":{},"data":"As soon as we accept the fear of failure, we will be open to making more mistakes, and eventually leading to more learning and leading a fulfilling life. - "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/02/masoom-minawala-influencer-transfor-india-fashion-bussiness-creators-inc"},"data":"Masoom Minawala"}},{"contentType":"text","value":{"formats":{},"data":"\n\nThere's always somebody who is going to be offended by anything. - "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/02/creators-inc-conference-2022-hoezaay-content-creator-influencer"},"data":"Hoezaay"}},{"contentType":"text","value":{"data":"\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"The more the trolls, the merrier! - \u003ca href=\"https://yourstory.com/2022/02/creators-should-be-strong-salespersons-sakshi-sindwani-creators-inc\">Sakshi Sindwani\u003c/a>"}},{"contentType":"text","value":{"formats":{},"data":"Depression is a real thing. To get off that phase, relearn how to be happy. - "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/02/creators-inc-conference-2022-tanmay-bhat"},"data":"Tanmay Bhat"}},{"contentType":"text","value":{"formats":{},"data":"\n\nYou have to be dedicated all the time, ready for all the hate and also the fact that there will be competition. - "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/02/creators-inc-ashish-chanchlani-on-the-evolution-of-creators-economy"},"data":"Ashish Chanchlani"}},{"contentType":"text","value":{"formats":{},"data":"\n\nChallenges and stress are real, and it is going to come. The essence is in addressing it. So address it, get past it, it is curable. - "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/02/creators-inc-manish-pandey-mentor-coach-content-creators"},"data":"Manish Pandey"}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/India7-1645386091009.jpg"}},{"contentType":"alsoRead","value":{"title":"[Year in Review 2021] Here are the trends that will reshape offline retail in 2022 and beyond ","thumbnail":"https://images.yourstory.com/cs/21/0a385fc03e6011e999df3d1594bbde2c/SMB-32-1640108346622.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/smbstory/offline-retail-shopping-trends-2022-online-marketplace-year-in-review"}},{"contentType":"text","value":{"formats":{"header":2},"data":"The road ahead\n"}},{"contentType":"text","value":{"formats":{},"data":"When their businesses were shut [during the pandemic], so many people discovered their hidden talent in comedy or other areas, and they started making content which was picked up by viewers. And that audience connection is still on. - "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/02/saloni-gaur-creators-inc-conference"},"data":"Saloni Gaur"}},{"contentType":"text","value":{"formats":{},"data":"\n\nAnyone claiming to be an expert on this or that these days, doesn’t really know. It could be anything, a monkey scratching his butt could end up going viral. - "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/02/creators-inc-conference-2022-hoezaay-content-creator-influencer"},"data":"Hoezaay"}},{"contentType":"text","value":{"data":"\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"Reinvention is absolutely necessary when you want a long career. - \u003ca href=\"https://yourstory.com/2022/02/creators-inc-tanmay-bhat-success-mantras-content-creation\">Tanmay Bhat\u003c/a>"}},{"contentType":"text","value":{"formats":{},"data":"India is the world’s largest creator economy with more than 40 percent of young Indians coming online, wanting to choose content creation as a primary profession. - "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/02/creators-inc-trell-bimal-rebba-keynote-creator-economy-potential"},"data":"Bimal Kartheek Rebba, Trell"}},{"contentType":"text","value":{"formats":{},"data":"\n\nThe more you are into your public the more you're into your audience, you evolve with them along the way. - "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/02/creators-inc-conference-ashish-chanchlani-creator-economy"},"data":"Ashish Chanchlani"}},{"contentType":"text","value":{"formats":{},"data":"\n\n"}},{"contentType":"text","value":{"formats":{"italic":true},"data":"YourStory has also published the pocketbook "}},{"contentType":"text","value":{"formats":{"bold":true,"italic":true},"data":"‘Proverbs and Quotes for Entrepreneurs: A World of Inspiration for Startups’"}},{"contentType":"text","value":{"formats":{"italic":true},"data":" as a creative and motivational guide for innovators (downloadable as apps here: "}},{"contentType":"text","value":{"formats":{"link":"https://appsto.re/in/XieS3.i","italic":true},"data":"Apple,"}},{"contentType":"text","value":{"formats":{"italic":true},"data":" "}},{"contentType":"text","value":{"formats":{"link":"https://play.google.com/store/apps/details?id=com.antarjaal.startupquotes","italic":true},"data":"Android"}},{"contentType":"text","value":{"formats":{"italic":true},"data":")."}},{"contentType":"text","value":{"formats":{},"data":"\n\n"}}],"timeLapsed":"21st Feb 2022","publishedDate":"February 21, 2022"},{"id":233324,"title":"Indian Internet’s first musical find, Ritviz on being a ‘bedroom singer’ \r\n","slug":"india-internet-first-musical-find-ritviz-singer-creators-inc","type":"RICH","subtitle":"At the YourStory Creators Inc. Conference artist Ritviz Srivastava reveals his music-making process and dealing with fame at an early stage in life. \r\n","publishedAt":"2022-02-17T02:30:00.000Z","updatedAt":"2022-02-21T13:14:30.914Z","brand":{"name":"YourStory","slug":"yourstory","locale":"en_GB","path":"/"},"metadata":{"authors":[{"name":"Debolina Biswas","username":"debolina-biswas-1","order":0,"path":"/author/debolina-biswas-1"}],"category":{"id":1104,"name":"Inspiration","slug":"inspiration","path":"/category/inspiration"},"excerpt":"At the YourStory Creators Inc. Conference artist Ritviz Srivastava reveals his music-making process and dealing with fame at an early stage in life. \n","media":"https://images.yourstory.com/cs/2/628912e0d7f211eb8e8307e5b6451cf7/IndianInternetsfirstmusicalfindTheRitvizstory-02-1644658160976.png","thumbnail":"https://images.yourstory.com/cs/2/628912e0d7f211eb8e8307e5b6451cf7/IndianInternetsfirstmusicalfindTheRitvizstory-02-1644658160976.png","defaultThumbnail":"https://images.yourstory.com/cs/2/628912e0d7f211eb8e8307e5b6451cf7/IndianInternetsfirstmusicalfindTheRitvizstory-02-1644658160976.png","brandSpotlight":null,"removeAds":null,"curatedCategories":[],"sponsoredStory":null,"isRegistrationRequired":false,"timeToRead":4,"articleTopics":[],"richArticleTopics":[{"id":"991ecc30-663e-11eb-b571-b76e0f3e580d","slug":"ecosystem-insights","name":"Ecosystem Insights","type":"RICH-ARTICLE-TOPIC","order":0}],"tags":[{"name":"content creators","slug":"content-creators","order":0,"path":"/tag/content-creators"},{"name":"Content","slug":"content","order":1,"path":"/tag/content"},{"name":"Music Composer","slug":"music-composer","order":2,"path":"/tag/music-composer"},{"name":"Music industry","slug":"music-industry","order":3,"path":"/tag/music-industry"},{"name":"Creators Inc","slug":"creators-inc","order":4,"path":"/tag/creators-inc"}]},"snippets":null,"trailers":null,"path":"/2022/02/india-internet-first-musical-find-ritviz-singer-creators-inc","featured":false,"mobilePostJson":[{"contentType":"text","value":{"formats":{},"data":"In 2017 when A.I.B. launched the official music video of "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"Udd Gaye "}},{"contentType":"text","value":{"formats":{},"data":"featuring a 19-year old boy from Pune, it broke the internet. The artist, Ritviz Srivastava, became India’s first internet-born musician. Today, the "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"Udd Gaye "}},{"contentType":"text","value":{"formats":{},"data":"video boasts of 63 million views and Ritviz has released around 20 songs since then. \n\nTaking off after winning the 2017 Bacardi House Party Sessions, Ritviz has evolved to be featured in Forbes 30 Under 30 list last year, and on Grazia’s ‘Cool List 2021.’ His song "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"Sun Toh "}},{"contentType":"text","value":{"formats":{},"data":"featured on Netflix India’s series "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"Mismatched"}},{"contentType":"text","value":{"formats":{},"data":". \n\nOn the second day of the first edition of YourStory’s Creators Inc. Conference 2021, Ritviz shares the details of the creative process of producing a song, life lessons and what’s in store for the 25-year old musician.\n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Bedroom producer \n"}},{"contentType":"text","value":{"data":"The pandemic disrupted the way artists have traditionally performed, so as they mostly stayed confined to their homes they took to their screens to interact and perform for their fans. While this may have been a bummer for the fans who looked forward to the adrenaline rush one experiences of watching their favorite artists perform right in front of their eyes, Ritviz saw this as a “boon”.\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“Right before the pandemic kicked in, I was doing three shows a week and travelling for the same. I had hit the saturation point and was burnt out…During the lockdown I got time to sit back and reflect,” says Ritviz. "}},{"contentType":"text","value":{"formats":{},"data":"Despite business taking a huge hit, “the last one year has worked well for my mental health,” the artist says. Ritviz has never been a big fan of travelling, and being a ‘bedroom singer’ since childhood, being stuck inside the house was more like a ‘privilege’ for the artist.  \n\nThe result? Ritviz’s latest releases "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"Baaraat "}},{"contentType":"text","value":{"formats":{},"data":"and "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"Thandi Hawa "}},{"contentType":"text","value":{"formats":{},"data":"are pandemic productions. \n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/628912e0d7f211eb8e8307e5b6451cf7/itviz-1644658095497.jpg"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Music as an outlet \n"}},{"contentType":"text","value":{"formats":{},"data":"For Ritviz, music is an expression– his reaction to what goes on in his life at that particular point of time. “To create music, I need to go through something. Music is just a translation of what is going on inside me,” he says. \n\nAfter almost a decade of producing and being associated with music, Ritviz divides his career into two parts: pre and post "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"Udd Gaye"}},{"contentType":"text","value":{"data":". \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“My pre-\u003cem>Udd Gaye\u003c/em> songs were just my imagination and strong desires converted into songs. Post-\u003cem>Udd Gaye \u003c/em>I started building my personal life as well and the writing process changed,” Ritviz explains. "}},{"contentType":"text","value":{"formats":{},"data":"\nNow, Ritviz lives experiences and writes them into songs, rather than putting his imagination into words. “Now that I have the time and can afford to have experiences, that is how my music is going to be,” he adds. According to the artist, "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"Sage"}},{"contentType":"text","value":{"formats":{},"data":" was his first song that he had written purely based on experiences. “Today when I look back and listen to my songs, I can recall what I was going through at that particular moment,” he adds. \n\nRitviz’s roots go back to Indian classical music with his parents being closely associated with it, and growing up, Ritviz’s exposure to western hip-hop music, led to the amalgamation of both that led him to produce the kind of music he does today. \n"}},{"contentType":"alsoRead","value":{"title":"Never taken my famous last name for granted, says Shruti Haasan at YourStory's Creators Inc Conference\r\n","thumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/800x368-1644496413100.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/02/creators-inc-shruti-haasan-on-her-famous-last-name"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Road ahead \n"}},{"contentType":"text","value":{"formats":{},"data":"“I do not look at myself as a musician but as a creative individual. It helps me widen my horizon. I do not see myself making music all my life. Just how making music is like a form of expression for me, I can express in 10 different ways,” says Ritviz. \n\nFor two-years now, the artist is working on producing a fashion line to tell his stories through clothes.\n\nThe "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"Udd Gaye "}},{"contentType":"text","value":{"formats":{},"data":"singer ends the session on a thoughtful note and advises creators looking up to him for inspiration to focus on their mental health just as much as they do on their career to handle fame well, and avoid burning out. \n"}},{"contentType":"divider","value":{}},{"contentType":"text","value":{"formats":{},"data":"Catch "}},{"contentType":"text","value":{"formats":{"link":"https://events.hubilo.com/CreatorsInc/login"},"data":"YourStory's Creators Inc conference here."}},{"contentType":"text","value":{"formats":{},"data":"\n\nFor more on other key initiatives as part of the conference, visit our Creators Inc. website "}},{"contentType":"text","value":{"formats":{"link":"https://ys-events.yourstory.com/creators-inc-conference"},"data":"here"}},{"contentType":"text","value":{"formats":{},"data":".\n\nRecognising the burgeoning creator ecosystem and the new wave of entrepreneurship that comes with it, YourStory is celebrating the works of both established and emerging influencers in an initiative aimed at identifying, celebrating and accelerating the journey of digital creators who make extraordinary, unique and engaging content. We've partnered with Trell to bring you the Top 100 Creators challenge, which you can "}},{"contentType":"text","value":{"formats":{"link":"https://form.jotform.com/213540503530442"},"data":"apply for here."}},{"contentType":"text","value":{"formats":{},"data":"\n\n"}}],"timeLapsed":"17th Feb 2022","publishedDate":"February 17, 2022"},{"id":233314,"title":"How Masoom Minawala transformed India’s fashion business one step at a time\r\n","slug":"masoom-minawala-influencer-transfor-india-fashion-bussiness-creators-inc","type":"RICH","subtitle":"On the second day of YourStory’s Creators Inc Conference, fashion and lifestyle influencer Masoom Minawala spills the beans behind her dizzying popularity. \r\n","publishedAt":"2022-02-16T02:30:00.000Z","updatedAt":"2022-02-21T13:15:54.694Z","brand":{"name":"YourStory","slug":"yourstory","locale":"en_GB","path":"/"},"metadata":{"authors":[{"name":"Debolina Biswas","username":"debolina-biswas-1","order":0,"path":"/author/debolina-biswas-1"}],"category":{"id":359,"name":"Interview","slug":"ys-interview","path":"/category/ys-interview"},"excerpt":"On the second day of YourStory’s Creators Inc Conference, fashion and lifestyle influencer Masoom Minawala spills the beans behind her dizzying popularity. \n","media":"https://images.yourstory.com/cs/2/628912e0d7f211eb8e8307e5b6451cf7/800x368-1644652685325.png","thumbnail":"https://images.yourstory.com/cs/2/628912e0d7f211eb8e8307e5b6451cf7/MasoomMinawala-01-1645169897332.png","defaultThumbnail":"https://images.yourstory.com/cs/2/628912e0d7f211eb8e8307e5b6451cf7/MasoomMinawala-01-1645169897332.png","brandSpotlight":null,"removeAds":null,"curatedCategories":[],"sponsoredStory":null,"isRegistrationRequired":false,"timeToRead":7,"articleTopics":[],"richArticleTopics":[{"id":"991ecc30-663e-11eb-b571-b76e0f3e580d","slug":"ecosystem-insights","name":"Ecosystem Insights","type":"RICH-ARTICLE-TOPIC","order":0}],"tags":[{"name":"masoom minawala","slug":"masoom-minawala","order":0,"path":"/tag/masoom-minawala"},{"name":"content marketing","slug":"content-marketing","order":1,"path":"/tag/content-marketing"},{"name":"content creators","slug":"content-creators","order":2,"path":"/tag/content-creators"},{"name":"Creators Inc","slug":"creators-inc","order":3,"path":"/tag/creators-inc"},{"name":"Instagram influencer","slug":"instagram-influencer","order":4,"path":"/tag/instagram-influencer"},{"name":"Fashion Brands","slug":"fashion-brands","order":5,"path":"/tag/fashion-brands"}]},"snippets":null,"trailers":null,"path":"/2022/02/masoom-minawala-influencer-transfor-india-fashion-bussiness-creators-inc","featured":false,"mobilePostJson":[{"contentType":"text","value":{"formats":{},"data":"One cannot talk about the Indian creators’ industry and not mention "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Masoom Minawala."}},{"contentType":"text","value":{"formats":{},"data":" Starting her career almost a decade ago, Masoom took the blogger’s route when it was still in its nascent stage in India. Back in the day, Masoom was popularly known as Style Fiesta, the blogger. Today, Masoom’s name is synonymous with two identities– the brand and the fashion blogger/ social media influencer. \n\nLast year, when the Paris Fashion Week returned to its physical avatar, Masoom represented India at the Hermes show, along with the Bollywood regulars. Additionally, she has collaborated with more than 500 brands including the likes of Samsung, BMW, Estee Lauder, Louis Vuitton, and Dior, to name a few. She has also walked the red carpet at the Cannes Film Festival. \n\nOn the second day of "}},{"contentType":"text","value":{"formats":{"bold":true,"italic":true},"data":"YourStory’s Creators Inc Conference"}},{"contentType":"text","value":{"formats":{},"data":", Masoom explains her dizzying popularity that commands a following of 1.1 million (and growing) on Instagram, and around 52,000 subscribers on YouTube. \n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Overcoming challenges \n"}},{"contentType":"text","value":{"formats":{},"data":"Masoom’s success as an entrepreneur and a creator did not come easy. Before she built her brand, followed by millions today, Masoom failed as a startup founder. At the age of 19, she started a business selling shoes imported from China. Despite being profitable and raising funds, Masoom’s venture failed a year later. \n \nBut does the success today not come with the fear of another failure? \n \nMasoom says, “I deal with it (the fear of failure) every day. We are living in a time where we should accept and acknowledge it rather than running away from it. Our job environment is growing and evolving so quickly and dynamically that if we are not up to date, we have so much to lose and we have so much to sail by. As soon as we accept the fear of failure, we will be open to making more mistakes, and eventually leading to more learning and leading a fulfilling life.” \n \nMasoom’s passion spanning blogging and online community building has bore fruits today. She has now been recognised as a leading global female entrepreneur by HSBC, and featured on CNN’s 20 Under 40 list. \n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/628912e0d7f211eb8e8307e5b6451cf7/masoom-1644652714158.jpg"}},{"contentType":"text","value":{"formats":{"header":2},"data":"The secret sauce\n"}},{"contentType":"text","value":{"formats":{},"data":" On being asked how Masoom deals with creativity blocks she says, “I have built a team, a structure and a framework to maintain the fluidity and authenticity that comes with content creation, to ensure that I am creating content for the love of it and not for the sake of it.” \n \nEverytime she hits creativity blocks, the influencer “switches off.” Multiple breaks and being great at switching off is Masoom’s secret of avoiding creative exhaustion.\n \nJuggling between Style Fiesta and Masoom Minawala comes with the challenge of  dealing with an identity crisis. Masoom mentions, “It is so hard deciding between when to show up as ‘Masoom Minawala the brand’ and ‘Masoom Minawala the individual’.” \n \nTo overcome situations like these, Masoom has a couple of set ways: \n \n"}},{"contentType":"text","value":{"formats":{"list":"bullet"},"data":"The influencer uses social media only for businesses, and never for personal purposes. “It was extremely difficult initially but it is also a very small price to pay in the longer run,” she adds. She further explains that every time she uploads a story or a feed post, she shows up as ‘Masoom the brand.’ "}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“Every time I take a break or I am unwell or having a bad day at work, I don’t need to show up on social media. It is work for me,” she adds. "}},{"contentType":"text","value":{"formats":{"list":"bullet"},"data":"Secondly, in order to live-in-the-moment, Masoom avoids posting in real-time. While she might be taking a vacation with her husband, sponsored by a hotel, Masoom only posts her content during her work hours, and not as she captures them."}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{},"data":" \n"}},{"contentType":"text","value":{"formats":{"list":"bullet"},"data":"On an average day, Masoom avoids checking her phone or posting her content online post 9 PM, to maintain discipline. "}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"alsoRead","value":{"title":"Never taken my famous last name for granted, says Shruti Haasan at YourStory's Creators Inc Conference\r\n","thumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/800x368-1644496413100.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/02/creators-inc-shruti-haasan-on-her-famous-last-name"}},{"contentType":"text","value":{"formats":{"header":2},"data":"A decade of milestones and failures\n"}},{"contentType":"text","value":{"formats":{},"data":"Masoom lists out the most significant milestones she has experienced in the last 10 years of growing into this high-profile influencer: \n \n"}},{"contentType":"text","value":{"formats":{"list":"bullet"},"data":"The launch and success of the "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"#SupportIndianDesigners,"}},{"contentType":"text","value":{"formats":{},"data":" a not-for-profit  initiative Masoom started during the first wave of the pandemic, when small businesses were shutting down as they couldn’t deal with the volatility that the industry was experiencing. "}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“I used my platform to create content that would help uplift their businesses and get the right traction on their websites. The series led to thousands of conversations. It was a great reminder of why I am doing what I am doing; and how content can drive towards individuals and businesses today.” "}},{"contentType":"text","value":{"formats":{"list":"bullet"},"data":"Secondly, she mentions a  "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"brand collaboration"}},{"contentType":"text","value":{"formats":{},"data":" that she did a year ago that led to almost 250 conversions for a high-ticketed item over a span of up to three months. Emphasising the significance of the collaboration, Masoom says, “Since the time I started (creating content), I have been hearing people talk about how this industry is a fluff– there is so much glamour, glitz and extravagance associated with it, but people keep questioning where is the heart and impact? How content creation has become an integral marketing tool today? I think this instance shows the real value of the influencer business.” "}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{"list":"bullet"},"data":"Thirdly, Masoom talks about walking the red carpet at the Cannes Film Festival, representing India at a large and global scale, as her moment of pride. "}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{},"data":"\nFor Masoom, the challenges that she faced while building her empire have been as significant and important as the milestones. Looking back, Masoom highlights the two "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"most important hurdles along her journey"}},{"contentType":"text","value":{"formats":{},"data":": \n\n"}},{"contentType":"text","value":{"formats":{"list":"bullet"},"data":"The struggle of constantly evolving and adapting the new features on the internet, while managing to stay relevant. “All of this while not falling into the trap of relevant content,” she adds. She goes on to explain that one must create content while staying true to oneself, and not just for the sake of being relevant. “It is a confusing web of thoughts,” she says. "}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{},"data":"\nWhile starting her journey as a blogger, Masoom moved around platforms including Facebook and Twitter, until finally leveraging Instagram, and now, YouTube and LinkedIn as well. “I think this challenge keeps us content creators on our toes,” she adds. \n\n"}},{"contentType":"text","value":{"formats":{"list":"bullet"},"data":"Secondly, and most importantly, Masoom speaks about the challenges associated with the ‘woman’ tag. Starting her first venture at 19, Masoom recalls that her business was in a space where she did not have many to turn to for advice and mentorship. “I was "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"consistently ridiculed for being a woman in business,"}},{"contentType":"text","value":{"formats":{},"data":" for sitting on a table with investors, looking to raise funds, for being a woman who thought she could foray into the internet world and actually create something profitable and sustainable, and for being a woman who would prioritise her career as much as she prioritises her personal life.” "}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{},"data":"\nThe battles Masoom once fought have now turned into her strength. “It has been a beautiful obstacle in my life,” she adds. \n\nIn true community building spirit, Masoom now endorses women-led small businesses and unique Indian designers through initiatives Empowher and "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"#SupportIndianDesigners. "}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"divider","value":{}},{"contentType":"text","value":{"formats":{"italic":true},"data":"Catch "}},{"contentType":"text","value":{"formats":{"link":"https://events.hubilo.com/CreatorsInc/login","italic":true},"data":"YourStory's Creators Inc conference here."}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{"italic":true},"data":"For more on other key initiatives as part of the conference, visit our Creators Inc. website "}},{"contentType":"text","value":{"formats":{"link":"https://ys-events.yourstory.com/creators-inc-conference","italic":true},"data":"here"}},{"contentType":"text","value":{"formats":{"italic":true},"data":"."}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{"italic":true},"data":"Recognising the burgeoning creator ecosystem and the new wave of entrepreneurship that comes with it, YourStory is celebrating the works of both established and emerging influencers in an initiative aimed at identifying, celebrating and accelerating the journey of digital creators who make extraordinary, unique and engaging content. 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In order to bridge the gap between the creators and brands, the need for exclusive talent representatives, managers and agencies came into existence. These representations help provide a competitive edge to creators, understand the demands of both creators and brands, and curate a win-win campaign. \n\nWhile agencies play the perfect matchmakers between brands and content creators, it is time for them to go beyond making money and nurture talent as well. \n“With creators, you have to work on branding, positioning and provide them a platform to grow. Besides that, you need to train and nurture them. Invest in budding creators because you never know who will blow up next,” said Sankalp Samant, Co-founder and Chief Growth "}},{"contentType":"companyWidget","value":{"id":"0f0dc890-8f2b-11ec-9018-c527398dca9a","name":"Idiotic Media","slug":"idiotic-media","logo":{"height":300,"width":300,"imageKey":"cs/images/companies/1534826002226700662520468896069540657097926n1-1645017931485.jpg","url":"https://images.yourstory.com/cs/images/companies/1534826002226700662520468896069540657097926n1-1645017931485.jpg"},"subtitle":"Idiotic Media is a cloud-based influencer marketing platform.","foundingDate":"2018-01-01","companyURL":"https://yourstory.com/companies/idiotic-media","companyCoreTeam":[{"name":"Himanshu Singla"}],"sectors":[{"name":"Media","slug":"media"},{"name":"Software","slug":"software"},{"name":"AdTech","slug":"adtech"},{"name":"MarTech","slug":"martech"}]}},{"contentType":"text","value":{}},{"contentType":"blockquote","value":{"formats":{},"data":". "}},{"contentType":"text","value":{"formats":{},"data":"Sankalp was a part of the panel discussion at YourStory’s inaugural edition of the "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Creators Inc. Conference."}},{"contentType":"text","value":{"formats":{},"data":"\n\nInterestingly, he took a shot with one of the micro creators FinCocktail, a page dedicated to personal finance, and got a brand to collaborate with them. “When the content went live, FinCocktail went from 4,000 to 1,00,000 followers in a week’s time. The brand was extremely happy. The right content made the difference and gave exposure to creators. That is the role agencies play.” \n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/628912e0d7f211eb8e8307e5b6451cf7/panel-1644671288744.jpg"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Redefining measurement metrics \n"}},{"contentType":"text","value":{"formats":{},"data":"Likes and shares are important, but they are no more the sole criterion for measuring the impact and quality of an influencer/campaign.\n“There is no industry benchmark scale to follow, it all depends on the brands, the problem they are facing, want to solve, and what is their desired outcome,” said Gunjan Arya, Chief Executive Officer (CEO) at "}},{"contentType":"companyWidget","value":{"id":"65351280-8f2d-11ec-baf6-f1915f9bb8f7","name":"Only Much Louder","slug":"only-much-louder","logo":{"height":300,"width":300,"imageKey":"cs/images/companies/525299101513558919108072041463568n1-1645018567518.jpg","url":"https://images.yourstory.com/cs/images/companies/525299101513558919108072041463568n1-1645018567518.jpg"},"subtitle":"Only Much Louder (OML) is an Indian artist management, event management company and a content production house.","foundingDate":"2001-01-01","companyURL":"https://yourstory.com/companies/only-much-louder","companyCoreTeam":[{"name":"Gunjan Arya"},{"name":"Vijay Nair"},{"name":"Ajay Nair"},{"name":"Girish 'Bobby' Talwar"},{"name":"Arjun S Ravi"}],"sectors":[{"name":"Entertainment","slug":"entertainment"},{"name":"Events","slug":"events"}]}},{"contentType":"text","value":{}},{"contentType":"blockquote","value":{"formats":{},"data":". "}},{"contentType":"text","value":{"formats":{},"data":"A ‘desired outcome’ of every brand is different and higher sales could not be one of them. Some brands do "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"sentiment analysis"}},{"contentType":"text","value":{"formats":{},"data":" (conversation tracking—positive to negative) and see if they are able to change the sentiment of the brand when it goes to that influencer, while some measure the ad spend cost effectively and see if they are able to create a larger "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"retargeting pool. "}},{"contentType":"text","value":{"formats":{},"data":"\n\n“Likes and shares are important because it influences the algorithms and drives higher reach and at the end of the day, that’s what marketing is.—how much did you get for how much money? But with reels and stories, you don’t have any engagement metrics. Here you are looking at the view through rate, how many saves did you get and so on. For all of this, brands need to work with creators directly and agencies can be catalysts,” she adds. \n"}},{"contentType":"alsoRead","value":{"title":"How a blog started from a couch became a company: MissMalini’s tryst with Shah Rukh Khan and other Bollywood stars\r\n","thumbnail":"https://images.yourstory.com/cs/2/628912e0d7f211eb8e8307e5b6451cf7/MaliniAgarwal-01-1644632650962.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/02/creators-inc-goodglamm-missmalini-malini-agarwal-sharukh-khan"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Avoiding legal tussles \n"}},{"contentType":"text","value":{"formats":{},"data":"Creators who have been in the space for sometime now, have the know-how of legal terms, contracts and other technicalities that they need to be concerned about. What about a new or an average creator, who does not have the knowledge, nor the tools and resources to "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"protect their intellectual property"}},{"contentType":"text","value":{"formats":{},"data":"? An agency has an important role to play here. \n“It is our responsibility to train creators. On the other hand, we do not entertain long contracts (between brands and creators) with technical jargons. Creators who are not managed are sometimes pushed into signing binding contracts or are made to sign documents over reasons like clearance of invoices and all. 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"}},{"contentType":"text","value":{"formats":{},"data":"A piece of advice from Ayush to creators, who don’t have representation—reach out to lawyer friends or people around and have a general chat. A lot of things will get clear. \n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Leveraging data and analytics \n"}},{"contentType":"text","value":{"formats":{},"data":"Data analytics tools have led brands to realise that influencer marketing campaigns are much more than likes and impressions, and several other tools must be used to monitor the true figures of a campaign. Though a lot of free tools are available in the market, the problem comes when brands work on scale with a large number of influencers. That's where the analytical tools come to play for better discovery, end-to-end campaign management and analysing loopholes. \n“Having a proper marketing technology practice or analytics tools not just helps you save costs but also understand if you are reaching the right audience. Face value is not enough. A Bengaluru-based blogger can have her major audience in Delhi. This won’t make sense for a local brand which is trying to reach out in the city. When you do this at scale, it becomes a bigger problem,” said Praanesh Bhuvaneswar, Co-founder and CEO, "}},{"contentType":"companyWidget","value":{"id":"08c53fd0-cbe7-11ea-91f8-a1c9722113fb","name":"Qoruz","slug":"qoruz","logo":{"height":300,"width":300,"imageKey":"cs/images/companies/1346635817807849854743016680937798674039199n-1595400373250.jpg","url":"https://images.yourstory.com/cs/images/companies/1346635817807849854743016680937798674039199n-1595400373250.jpg"},"subtitle":"Qoruz is an influencer software for the new-age marketer.","foundingDate":"2015-03-01","companyURL":"https://yourstory.com/companies/qoruz","companyCoreTeam":[{"name":"Praanesh Bhuvaneswar"},{"name":"Prabakaran B"}],"sectors":[{"name":"SaaS","slug":"saas"},{"name":"Software","slug":"software"}]}},{"contentType":"text","value":{}},{"contentType":"blockquote","value":{"formats":{},"data":". "}},{"contentType":"text","value":{"formats":{},"data":"The entire influencer campaign can be automatically managed from the start to the finish without any manual intervention today. Campaign Response Prediction platforms, which are under development, will have the ability to allow a virtual content posting platform to work on its own. \n\nAnalytics can help you know what is happening behind the campaign as well. “With the help of data and analytics, Brands would come to know if it would be possible for them to reach the audience (probability), have predictive analysis, and see if the final outcome matches the predictability. This will help them fix the loopholes as well,” he adds. \n"}},{"contentType":"alsoRead","value":{"title":"How India’s creator economy is leveraging content, commerce and community, explains Good Glam Group’s Priyanka Gill\r\n","thumbnail":"https://images.yourstory.com/cs/2/628912e0d7f211eb8e8307e5b6451cf7/Priyanafeature-1644549001322.jpg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/02/creators-inc-creator-economy-good-glam-priyanka-gill-leveraging-content-commerce"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Future trends: Emergence of micro influencers \n"}},{"contentType":"text","value":{"formats":{},"data":"Smaller or micro creators are here to stay. As stressed by the panel, smaller creators will be able to deliver a brand’s message in a much better way. \n“We should stop seeing them as engines of advertisements but engines of amplification. That is where the agency's role comes in. Celebs influencers will not work in future. We (agencies) need to be more open to ideas and creativity as things will soon start getting saturated,” said Shubham Singhal, Co-founder at "}},{"contentType":"companyWidget","value":{"id":"a48f33d0-8f40-11ec-bc7d-75f47495fe57","name":"Dot Media Solutions","slug":"dot-media-solutions","logo":{"height":300,"width":300,"imageKey":"cs/images/companies/49398557340247240143473297109508071620608n-1645027590230.jpg","url":"https://images.yourstory.com/cs/images/companies/49398557340247240143473297109508071620608n-1645027590230.jpg"},"subtitle":"Dot Media Solutions provides personalised digital services.","foundingDate":"2017-01-01","companyURL":"https://yourstory.com/companies/dot-media-solutions","companyCoreTeam":[{"name":"Shubham Singhal"},{"name":"Mohit Kabra"},{"name":"Vaibhav Pathak"}],"sectors":[{"name":"Media","slug":"media"},{"name":"AdTech","slug":"adtech"},{"name":"MarTech","slug":"martech"}]}},{"contentType":"text","value":{"formats":{},"data":" & "}},{"contentType":"companyWidget","value":{"id":"0f1bbe60-8f43-11ec-9018-c527398dca9a","name":"The Girlfriend Box","slug":"the-girlfriend-box","logo":{"height":300,"width":300,"imageKey":"cs/images/companies/1631694056286-1645027982258.jpg","url":"https://images.yourstory.com/cs/images/companies/1631694056286-1645027982258.jpg"},"subtitle":"The Girlfriend Box is a digital marketing agency under Dot Media Solutions.","foundingDate":"2017-01-01","companyURL":"https://yourstory.com/companies/the-girlfriend-box","companyCoreTeam":[{"name":"Shubham Singhal"}],"sectors":[{"name":"AdTech","slug":"adtech"},{"name":"MarTech","slug":"martech"}]}},{"contentType":"text","value":{}},{"contentType":"blockquote","value":{"formats":{},"data":". "}},{"contentType":"text","value":{"formats":{},"data":"Another major trend that the space is likely to see is ‘bigger influencers turning into a brand”, which will give rise to social commerce in a major way, he adds. \n\nBrands and influencers can go beyond the pay-per-video/ pay-per-view model and work tighter to explore new synergies. This could be content licensing, content reselling, music video licensing, social commerce and much more. Influencers may tomorrow get into providing one-on-one consultancies to brands to help them reach a particular audience, adds Pranesh. \n\nThe panel concluded with a very important advice to creators— be humble and grounded. \n"}},{"contentType":"divider","value":{}},{"contentType":"text","value":{"formats":{},"data":"Catch "}},{"contentType":"text","value":{"formats":{"link":"https://events.hubilo.com/CreatorsInc/login"},"data":"YourStory's Creators Inc conference here."}},{"contentType":"text","value":{"formats":{},"data":"\n\nFor more on other key initiatives as part of the conference, visit our Creators Inc. website "}},{"contentType":"text","value":{"formats":{"link":"https://ys-events.yourstory.com/creators-inc-conference"},"data":"here"}},{"contentType":"text","value":{"formats":{},"data":".\n\nRecognising the burgeoning creator ecosystem and the new wave of entrepreneurship that comes with it, YourStory is celebrating the works of both established and emerging influencers in an initiative aimed at identifying, celebrating and accelerating the journey of digital creators who make extraordinary, unique and engaging content. 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It piloted the project in Odisha, where it enrolled around 230 women in the programme.\n\nBut, why is BharatATM focussing on women?\n\nRam Shriram, CEO and Co-founder of "}},{"contentType":"companyConnect","value":{"id":"52a589f0-88a3-11ec-9f9a-5ddceefa244b","slug":"bharatatm","name":"BharatATM"}},{"contentType":"companyWidget","value":{"id":"dafc4e00-2d6f-11eb-91ab-0b12d11a1ae9","name":"Mahagram","slug":"mahagram","logo":{"height":400,"width":400,"imageKey":"cs/images/companies/Mahagram-1606124438653.jpg","url":"https://images.yourstory.com/cs/images/companies/Mahagram-1606124438653.jpg"},"subtitle":"Mahagram is a Mumbai based fintech startup","foundingDate":"2015-06-01","companyURL":"https://yourstory.com/companies/mahagram","companyCoreTeam":[{"name":"Ram Shriram"}],"sectors":[{"name":"Financial Services","slug":"financial-services"},{"name":"FinTech","slug":"fintech"}]}},{"contentType":"text","value":{"formats":{},"data":", the parent company of BharatATM, tells "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"YourStory "}},{"contentType":"text","value":{"formats":{},"data":"that even in households where men are sole earners, it’s women who handle most of the money in terms of expenditures related to grocery shopping and running the house. \n\n“We realised if we could enrol a few women and got them a savings account, they would help other women start their own accounts too,” Ram tells "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"YourStory"}},{"contentType":"text","value":{"formats":{},"data":". \n\n"}},{"contentType":"divider","value":{}},{"contentType":"text","value":{"formats":{"header":3},"data":"Editor’s Pick: Digit Insurance’s rise to unicorn status \n"}},{"contentType":"companyWidget","value":{"id":"b2e4aec0-89ec-11ea-a351-c7e9ff6cad36","name":"Digit Insurance","slug":"digit-insurance","logo":{"height":1667,"width":1667,"imageKey":"cs/images/companies/digit-1588146029360.png","url":"https://images.yourstory.com/cs/images/companies/digit-1588146029360.png"},"subtitle":"Digit Insurance is a financial services company established by Kamesh Goyal in 2016.","foundingDate":"2016-01-01","companyURL":"https://yourstory.com/companies/digit-insurance","companyCoreTeam":[{"name":"Kamesh Goyal"},{"name":"Vijay Kumar"}],"sectors":[{"name":"Financial Services","slug":"financial-services"},{"name":"Insurance","slug":"insurance"},{"name":"FinTech","slug":"fintech"}]}},{"contentType":"text","value":{"formats":{},"data":" sold its first policy in late-2017. Four years later, it became not only the first unicorn of 2021 but also the first insurtech startup to achieve the coveted billion-dollar valuation. Founder Kamesh Goyal charts his and the startup’s growth journey. "}},{"contentType":"companyConnect","value":{"id":"52a589f0-88a3-11ec-9f9a-5ddceefa244b","slug":"bharatatm","name":"BharatATM"}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/04/india-first-insurtech-unicorn-digit-insurance-growth-startup/amp"},"data":"Read more"}},{"contentType":"text","value":{"formats":{},"data":". \n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/a09f22505c6411ea9c48a10bad99c62f/Imagemvhb-1649699946974.jpg"}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"divider","value":{}},{"contentType":"text","value":{"formats":{"header":3},"data":"Startup Spotlight\n"}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/04/pickmyad-helps-brands-find-influencers-quickly-securely/amp"},"data":"Connecting influencers with brands"}},{"contentType":"text","value":{"formats":{},"data":"\n\nWith digital media on the rise, influencers and content creators have become prominent with a large following on social media. However, with influencer marketing still in nascent stages, many brands find it difficult to find the right influencer.\n\nTo solve this, Chennai-based "}},{"contentType":"companyWidget","value":{"id":"0f4aa9b0-8597-11ec-b9a6-e148885d01c6","name":"PickMyAd","slug":"pickmyad","logo":{"height":1280,"width":1280,"imageKey":"cs/images/companies/cee3eacd9635-photo2020032120-1643964438382.jpeg","url":"https://images.yourstory.com/cs/images/companies/cee3eacd9635-photo2020032120-1643964438382.jpeg"},"subtitle":"World's first marketplace for brands to book social media influencers for paid collaboration.","foundingDate":"2019-10-06","companyURL":"https://yourstory.com/companies/pickmyad","companyCoreTeam":[{"name":"Prabu Dass"},{"name":"Aruljothi K"},{"name":"Sivakumar S"},{"name":"Arun Pious W"}],"sectors":[{"name":"AdTech","slug":"adtech"},{"name":"MarTech","slug":"martech"},{"name":"Marketplace","slug":"marketplace"}]}},{"contentType":"text","value":{"formats":{},"data":" has created an influencer marketing platform where brands can book influencers to promote their business. "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/04/pickmyad-helps-brands-find-influencers-quickly-securely/amp"},"data":"Read more."}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/40d66ae0f37111eb854989d40ab39087/StartupSnapshot14-1649649061204.png"}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"divider","value":{}},{"contentType":"text","value":{"formats":{"header":3},"data":"News & Updates\n"}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/04/elon-musk-to-not-join-twitter-board/amp","list":"bullet"},"data":"Tesla and SpaceX CEO Elon Musk won't be joining Twitter's board"}},{"contentType":"text","value":{"formats":{},"data":", the social media platform's CEO Parag Agrawal said in a tweet. Musk, who owns 9.2 percent in the company, was supposed to join the Board on April 9."}},{"contentType":"companyConnect","value":{"id":"52a589f0-88a3-11ec-9f9a-5ddceefa244b","slug":"bharatatm","name":"BharatATM"}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{"list":"bullet"},"data":"A new report by PricewaterhouseCoopers (PwC) states that they believe "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/04/khatabook-ninjacart-potential-new-unicorn-club-entrants-pwc-report/amp"},"data":"India has at least 50 startups that can become unicorns by the end of 2022"}},{"contentType":"text","value":{"formats":{},"data":". Overall, the consultancy firm states the country should have at least 100 unicorns by year end."}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{"list":"bullet"},"data":""}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/04/glance-tv-launched-interactive-experience-android-inmobi/amp"},"data":"Glance has forayed into the television segment"}},{"contentType":"text","value":{"formats":{},"data":" as it aims to make Android smart TVs more interactive with two-way communication. This will be done through an interactive content platform for the home screen or screen zero of Android smart TVs."}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{"list":"bullet"},"data":"Just three days after announcing its India launch and Unified Payments Interface (UPI) integration, "}},{"contentType":"companyConnect","value":{"id":"52a589f0-88a3-11ec-9f9a-5ddceefa244b","slug":"bharatatm","name":"BharatATM"}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/the-decrypting-story/coinbase-india-suspends-upi-payments-crypto-exchange/amp"},"data":"Coinbase has halted UPI transactions on its app"}},{"contentType":"text","value":{"formats":{},"data":". The move came after The National Payments Corporation of India (NPCI) refuted Coinbase's claim of using UPI for crypto transactions."}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/the-decrypting-story/binance-in-principle-approval-abu-dubai-crypto-exchange-virtual-assets-adgm/amp","list":"bullet"},"data":"Binance has received In-Principle Approval (IPA) to operate as a broker-dealer in virtual assets in the Abu Dhabi Global Market (ADGM)"}},{"contentType":"text","value":{"formats":{},"data":". With the preliminary approval, the crypto exchange is one step closer to receiving final regulatory permission."}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"divider","value":{}},{"contentType":"text","value":{"formats":{"header":3},"data":"Before you go, stay inspired with… \n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/4/211ccaf00e6d11e997fe8f165dce9bb1/Designcopy32-1649498114116.png"}},{"contentType":"text","value":{}},{"contentType":"blockquote","value":{"formats":{},"data":"\"It doesn’t matter if the idea is novel or not, if there is market or not, if there is USP or not... if you are willing to learn and unlearn quickly, you will be successful even if the startup doesn’t succeed. And it will empower you and the people around you.\""}},{"contentType":"text","value":{"formats":{},"data":"– Priya Sharma, Founder, Learning Dino\n\n"}},{"contentType":"divider","value":{}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/newsletters?utm_source=wesbite&utm_medium=dailycapsule","italic":true},"data":"Now get the Daily Capsule in your inbox. Subscribe to our newsletter today!"}},{"contentType":"text","value":{"formats":{},"data":"\n\n\n \n"}},{"contentType":"companyConnect","value":{"id":"52a589f0-88a3-11ec-9f9a-5ddceefa244b","slug":"bharatatm","name":"BharatATM"}}],"timeLapsed":"12th Apr 2022","publishedDate":"April 12, 2022"}]},{"type":"ad","id":"ojvievejj","hideOnTakeover":false,"slot":"/154555149/ys_bilbrd_all_pg_btf","size":[[970,250],[970,90]],"display":{"mobileSmall":false,"mobileMedium":false,"mobileLarge":false,"tablet":true,"desktop":true},"background":"#FFFFFF"},{"type":"ad","id":"vhdfbvdhfvh","hideOnTakeover":false,"slot":"/154555149/ys_en_hmpage_rhs_rctngle","size":[300,250],"display":{"mobileSmall":true,"mobileMedium":true,"mobileLarge":true,"tablet":false,"desktop":false},"background":"#FFFFFF"},{"type":"dual-content","mainContainerType":"DualSectionHorizontal","subSections":[{"title":"In Depth","subtitle":"Deep data-driven stories on the entrepreneurial ecosystem","dataAttribute":"latest","clickCTA":"/category/ys-in-depth","containerType":"InspirationSection","dataAPI":"/api/v2/category/stories/?slug=ys-in-depth&brand=yourstory&limit=12&skipFeatured=true&skipDontShowOnHomepage=true&greedy=true","discoverPath":"/search","colSize":7,"data":[{"id":239965,"title":"How MMT is leveraging data to build a better travel experience","slug":"mmt-leveraging-data-better-travel-experience-sanjay-mohan","type":"RICH","subtitle":"The US listed OTA has a team of over 100 people working on data cleansing and development of data-led features across business domains on the MMT platform. \r\n","publishedAt":"2022-04-07T00:55:00.000Z","updatedAt":"2022-04-11T13:39:25.168Z","brand":{"name":"YourStory","slug":"yourstory","locale":"en_GB","path":"/"},"metadata":{"authors":[{"name":"Payal Ganguly","username":"payal-ganguly","order":0,"path":"/author/payal-ganguly"}],"category":{"id":464,"name":"In Depth","slug":"ys-in-depth","path":"/category/ys-in-depth"},"excerpt":"The US listed OTA has a team of over 100 people working on data cleansing and development of data-led features across business domains on the MMT platform. \n","media":"https://images.yourstory.com/cs/2/bc14afb0357911eca2270b39b804102d/CopyofImageTaggingNewBrandingEditorialTeamMaster16-1649251583740.png","thumbnail":"https://images.yourstory.com/cs/2/bc14afb0357911eca2270b39b804102d/CopyofImageTaggingNewBrandingEditorialTeamMaster16-1649251583740.png","defaultThumbnail":"https://images.yourstory.com/cs/2/bc14afb0357911eca2270b39b804102d/CopyofImageTaggingNewBrandingEditorialTeamMaster16-1649251583740.png","brandSpotlight":null,"removeAds":null,"curatedCategories":[],"sponsoredStory":null,"isRegistrationRequired":false,"timeToRead":5,"articleTopics":[],"richArticleTopics":[{"id":"991ea520-663e-11eb-b571-b76e0f3e580d","slug":"business-and-tech-news","name":"Business and Tech News","type":"RICH-ARTICLE-TOPIC","order":0}],"tags":[{"name":"Makemytrip","slug":"makemytrip","order":0,"path":"/tag/makemytrip"},{"name":"data science","slug":"data-science","order":1,"path":"/tag/data-science"},{"name":"analytics and data platforms","slug":"analytics-and-data-platforms","order":2,"path":"/tag/analytics-and-data-platforms"},{"name":"online travel aggregator","slug":"online-travel-aggregator","order":3,"path":"/tag/online-travel-aggregator"},{"name":"domestic flight bookings","slug":"domestic-flight-bookings","order":4,"path":"/tag/domestic-flight-bookings"},{"name":"Hotel booking","slug":"hotel-booking","order":5,"path":"/tag/hotel-booking"}]},"snippets":null,"trailers":null,"path":"/2022/04/mmt-leveraging-data-better-travel-experience-sanjay-mohan","featured":true,"mobilePostJson":[{"contentType":"text","value":{"formats":{},"data":"Travel planning can be chaotic at a personal level, especially with the uncertainties of Covid thrown in. NASDAQ-listed"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" Online Travel Aggregator (OTA)"}},{"contentType":"text","value":{"formats":{},"data":" "}},{"contentType":"companyWidget","value":{"id":"062a01c0-891b-11ea-9011-e9d21aea03e0","name":"MakeMyTrip","slug":"makemytrip","logo":{"height":1667,"width":1667,"imageKey":"cs/images/companies/makemytrip-1588055974803.png","url":"https://images.yourstory.com/cs/images/companies/makemytrip-1588055974803.png"},"subtitle":"MakeMyTrip is a Gurugram based online travel company founded in 2000. It is currently listed on the NASDAQ.","foundingDate":"2000-04-01","companyURL":"https://yourstory.com/companies/makemytrip","companyCoreTeam":[{"name":"Deep Kalra"},{"name":"Rajesh Magow"}],"sectors":[{"name":"Tourism","slug":"tourism"},{"name":"Travel/Hospitality","slug":"travel-hospitality"}]}},{"contentType":"text","value":{"formats":{},"data":" (MMT), which offers flight, train and bus ticketing, cab and hotel booking, and vacation planning services, "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"has a team of nearly 100 people trying to find order in this chaos to customise the platform for its users."}},{"contentType":"text","value":{"data":"\n\nRight from homepage and recommendation engine to suggesting add-on services, MMT’s data team has been working at improving its platform for the end user.\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“Compared to other ecommerce services, travel requires context, it is a less frequent purchase and is a perishable inventory. Pricing is dynamic in this case and it is different from what a user might be looking for. That is why data science around travel is an interesting problem to solve,” Sanjay Mohan, Group CTO at MMT tells \u003cem>YourStory\u003c/em>. "}},{"contentType":"text","value":{"formats":{},"data":"As a case in point, a solo traveller from Delhi to Bengaluru might have different needs in terms of cab and hotel booking as compared to someone traveling with four family members, depending on their age, amount of luggage, and other factors. \n"}},{"contentType":"alsoRead","value":{"title":"MakeMyTrip’s Deep Kalra opens up on navigating COVID-19, revenge travel, and the way ahead \n","thumbnail":"https://images.yourstory.com/cs/21/e1da3a20368f11ea8ceed32dbcb77ccc/Imageoe24-1635418961683.jpg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2021/10/techsparks-2021-makemytrip-deep-kalra-covid-19-impact-travel-industry"}},{"contentType":"text","value":{"formats":{},"data":"It is to improve personalisation and data-driven products for various business verticals that MMT set up its data team across Bengaluru and Gurugram nearly six years ago, though it had a handful of experts earlier.\n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Better data leads to better outcomes\n"}},{"contentType":"text","value":{"formats":{},"data":"The data team is divided into the"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" data platform team"}},{"contentType":"text","value":{"formats":{},"data":" and "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"data sciences team"}},{"contentType":"text","value":{"formats":{},"data":", "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"headed by Group CTO Sanjay."}},{"contentType":"text","value":{"data":" The data platform team is responsible for building the data pipeline -- right from how the data is logged to storage of quality data in accessible form. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“Data cleansing or data wrangling is an industry-wide problem and takes up nearly 80 percent time of any data scientist. With the help of the data platform team, we have managed to bring that down and the time spent cleansing the data for the data sciences team is now negligible,” says Sanjay, adding that the initial two years were invested in setting up the data platform team. "}},{"contentType":"text","value":{"formats":{},"data":"The data sciences team has varying degrees of expertise in "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Machine Learning (ML), Artificial Intelligence (AI), and statistical and neural network models for data analysis. "}},{"contentType":"text","value":{"formats":{},"data":"This team solves use-case specific business domain problems.\n\nThis has led the platform to come up with"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" data-led features for various business domains across flight, hotel, and ground transportation. "}},{"contentType":"text","value":{"formats":{},"data":"\n\n“Even in my everyday business teams we need people with some understanding of data sciences so that they can take ownership of new models. So we train a lot of our engineering teams as well as product managers through certification to be data enabled and data aware,” says Sanjay.\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/wordpress/2016/12/Deep-Kalra-founder-and-CEO-MakeMyTrip.jpg","caption":"\u003cp>Deep Kalra, Founder, MakeMyTrip \u003c/p>"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Product improvement and new features\n"}},{"contentType":"text","value":{"formats":{},"data":"With the help of this set up, MMT has been able to come up with new features and improved experience for customers. \n\nGroup company Goibibo was the first to announce the "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"price-lock feature for flight tickets in December 2020, which was followed by the MMT platform."}},{"contentType":"text","value":{"formats":{},"data":" The feature allows a buyer to lock-in the price of a flight ticket for a period of up to seven days by paying a token amount. If the price is lower at the time of booking, the user can book it at a lower price, while in case of a higher price, they pay the lock-in price. \n\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"MMT also announced a partnership with Goldman Sachs-backed global travel booking app Hopper in October 2021"}},{"contentType":"text","value":{"formats":{},"data":" to use the app’s Price Freeze Technology to start a similar feature on MMT platform. \n\n“The fare lock-in feature helps reduce customer anxiety around flight booking and reduces the friction of buying. These are still early days and we have opened up the feature only on select segments,” says Sanjay. \n\nHe added that MMT platform has "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"data on ticket pricing from nearly seven years ago and can predict how much the price is likely to change,"}},{"contentType":"text","value":{"formats":{},"data":" so that the customer is happy and the platform does not bear the brunt of a poor probabilistic model. \n\nMMT also introduced its "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"adtech feature during the Covid months"}},{"contentType":"text","value":{"data":", though it was in the pipeline for nearly a year and half. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“Lot of users come to our platform to check flight or train ticket schedules or cancellations, Covid related travel guidelines for states, and other information. They don’t transact on the platform and the ad-tech feature helps us monetise the traffic effectively,” says Sanjay."}},{"contentType":"text","value":{"formats":{},"data":"While the adtech feature has been launched with a third-party technology provider, Sanjay adds that the analytics and dashboard for better targeting has been built by MMT’s data teams. \n"}},{"contentType":"alsoRead","value":{"title":"MakeMyTrip founder Deep Kalra steps down as Group Executive Chairman","thumbnail":"https://images.yourstory.com/cs/2/31ee0510ca7c11eba975c529dced399e/MalvikaCopyofImageTagging10-1643115566768.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/01/makemytrip-founder-deep-kalra-steps-down-group-executive"}},{"contentType":"text","value":{"formats":{},"data":"Other improvements on the platform include better"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" customisation and recommendation for hotel bookings to ensure the customer is able to find the right kind of hotel in the top 15 search options. "}},{"contentType":"text","value":{"formats":{},"data":"\n\n“Nearly 80-85 percent of our users now find relevant hotel searches in a few clicks among the top 15 searches from 60-65 percent previously. This has definitely added to better conversions,” he adds.\n\nThe platform also introduced a "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"travel fintech feature "}},{"contentType":"text","value":{"formats":{},"data":"called "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/02/makemytrip-travel-fintech-tripmoney-rajesh-magow-sanjay-mohan/amp"},"data":"TripMoney"}},{"contentType":"text","value":{"formats":{},"data":" earlier this year to cross-sell and up-sell products, including "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"BNPL solution, bite-sized insurance, and forex cards. "}},{"contentType":"text","value":{"formats":{},"data":"The data team also works on developing risk models and personalisation for consumers availing of these features.\n\nIn the midst of a talent war in the Indian technology sector, MMT has managed to retain its data team as it focuses on hiring employees with domain expertise with a few years’ experience, says Sanjay. \n\n“This is a cyclical process and we hope sanity prevails over a period of time,” he adds. \n\n"}}],"timeLapsed":"7th Apr 2022","publishedDate":"April 07, 2022","editorsPickTitle":"How MMT is leveraging data to build a better travel experience","editorsPickSubtitle":"The US listed OTA has a team of over 100 people working on data cleansing and development of data-led features across business domains on the MMT platform. \n","editorsPickStartTime":"2022-04-07T00:30:00.000Z","editorsPickEndTime":"2022-04-07T03:30:00.000Z"},{"id":239806,"title":"[Product Roadmap] With over 50,000 connected assets and 200M daily data points, how Zenatix is leveraging tech to bring energy efficiency ","slug":"product-roadmap-zenatix-energy-tech-startup-iot-stack-efficiency","type":"RICH","subtitle":"In this week’s Product Roadmap, we feature Zenatix, an energy tech startup that provides an end-to-end IoT stack that is completely developed and maintained in-house.\r\n\r\n","publishedAt":"2022-04-06T01:00:00.000Z","updatedAt":"2022-04-06T13:08:11.442Z","brand":{"name":"YourStory","slug":"yourstory","locale":"en_GB","path":"/"},"metadata":{"authors":[{"name":"Sindhu Kashyaap","username":"sindhu-kashyap","order":0,"path":"/author/sindhu-kashyap"}],"category":{"id":464,"name":"In Depth","slug":"ys-in-depth","path":"/category/ys-in-depth"},"excerpt":"We feature Zenatix, an energy tech startup that provides an end-to-end IoT stack that is completely developed and maintained in-house.\n\n","media":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/Zenatix-1649165517184.jpeg","thumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/Zenatix-1649165517184.jpeg","defaultThumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/Zenatix-1649165517184.jpeg","brandSpotlight":null,"removeAds":null,"curatedCategories":[],"sponsoredStory":null,"isRegistrationRequired":false,"timeToRead":10,"articleTopics":[],"richArticleTopics":[{"id":"991ecc3e-663e-11eb-b571-b76e0f3e580d","slug":"startup-journeys---future-roadmaps","name":"Startup Journeys / Future Roadmaps","type":"RICH-ARTICLE-TOPIC","order":0}],"tags":[{"name":"Product Roadmap","slug":"product-roadmap","order":0,"path":"/tag/product-roadmap"},{"name":"Zenatix","slug":"zenatix","order":1,"path":"/tag/zenatix"},{"name":"Energy technology","slug":"energy-technology","order":2,"path":"/tag/energy-technology"}]},"snippets":null,"trailers":null,"path":"/2022/04/product-roadmap-zenatix-energy-tech-startup-iot-stack-efficiency","featured":true,"mobilePostJson":[{"contentType":"text","value":{"formats":{},"data":"Way back in 2014, "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Dr Amarjeet Singh"}},{"contentType":"text","value":{"data":", professor at the IIIT, Delhi, had realised that energy as a space is a big opportunity.\n\nMore so when broadly divided into two parts — the supply side which involves generation and distribution of electricity (a largely regulated market); and then the consumption side – which involves a wide variety of consumers such as residential, commercial, and industrial, with different consumption patterns and requirements.\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“While the supply side is much more consolidated (with a small number of large players), it is highly regulated (though the trend is towards deregulation). Which is why we thought of focusing on the consumption side and developing a robust and scalable solution to be ready when the supply side gets deregulated,” says Amarjeet. "}},{"contentType":"text","value":{"formats":{},"data":"He realised there was no real-time data in the sector, besides monthly electricity bills. When these bills exceeded budgeted costs, there was no way for consumers to know how to control these costs.\n\nFor several businesses, energy is amongst the top three expenses. Real time data monitoring and closing the loop with automated control and ticketing based on analytics is one way to help tackle the costs.\n\nThis thought process led to the birth of "}},{"contentType":"companyWidget","value":{"id":"cd7429a0-bceb-11ea-aae3-6dab5bc65b1e","name":"Zenatix","slug":"zenatix","logo":{"height":400,"width":400,"imageKey":"cs/images/companies/zenatixlogo-1593756585931.jpg","url":"https://images.yourstory.com/cs/images/companies/zenatixlogo-1593756585931.jpg"},"subtitle":"Zenatix Solutions is digitizing Infrastructures with IoT.","foundingDate":"2013-07-01","companyURL":"https://yourstory.com/companies/zenatix","companyCoreTeam":[{"name":"Amarjeet Singh"},{"name":"Vishal Bansal"},{"name":"Rahul Bhalla"}],"sectors":[{"name":"Analytics & BI","slug":"analytics-bi"},{"name":"DeepTech","slug":"deeptech"}]}},{"contentType":"text","value":{"formats":{},"data":". The energy-tech startup provides an end-to-end Internet of Things (IoT) stack that is developed and maintained in-house, with components either developed ground up or extensions of multiple open-source projects.\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/5/f02aced0d86311e98e0865c1f0fe59a2/renewable-energy-1622694415511.png"}},{"contentType":"text","value":{"formats":{"header":2},"data":"The early days \n"}},{"contentType":"text","value":{"formats":{},"data":"“We started back in 2014, when platforms like AWS-IoT and Azure IoT did not exist. As a result, we had no option but to build everything ourselves, which, in hindsight, has been a boon. The easier route of using some other platform would have bound us with their development cycle as well as associated costs involved,” says Amarjeet. \n\nZenatix’s end-to-end stack involved its software running on sensors/control devices (commonly termed as firmware) that communicates with the software running on edge gateway, which eventually communicates with the stack running on the cloud. The cloud stack is broadly divided into two components:\n\n"}},{"contentType":"text","value":{"formats":{"bold":true,"list":"ordered","numberedPrefix":"1. "},"data":"IoT stack "}},{"contentType":"text","value":{"formats":{},"data":"– that takes care of application data and its associated processes (eg. how to display temperature data and/or run analytics on the temperature data)"}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{"bold":true,"list":"ordered","numberedPrefix":"2. "},"data":"Device management stack"}},{"contentType":"text","value":{"formats":{},"data":" – that takes care of simple installation of sensor/control nodes and the gateway, and their remote commissioning and maintenance"}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{},"data":"\nToday, the stack manages more than "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"50,000 connected assets"}},{"contentType":"text","value":{"formats":{},"data":", managing more than "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"200 million daily data points"}},{"contentType":"text","value":{"formats":{},"data":". It consists of multiple frameworks that allow business teams to provide customised solutions (as per different customer requirements) on their own without coming back to the technology team.\n"}},{"contentType":"alsoRead","value":{"title":"[Product Roadmap] Here’s how these healthtech startups have evolved their products since their inception ","thumbnail":"https://images.yourstory.com/cs/2/50c12d609a1911ec9fa62186d8a1a3b1/Imagexbf1-1646898536224.jpg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/03/product-roadmap-healthtech-startups-practo-niramai-mfine-first-principles"}},{"contentType":"text","value":{"formats":{"header":2},"data":"The first product \n"}},{"contentType":"text","value":{"data":"It all started as a simple stack with a monolith architecture. Over time, it has evolved into a service-oriented architecture wherein all services are dockerised and managed through a Kubernetes cluster, an open-source system for automating deployment, scaling, and management of containerised applications.\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“The first product was built by bringing one of my former students as a full-time employee, and convincing two of my then- current students to do a full time six-month internship in their final semester with us. This was indeed the best team we could have put together with the constrained resources. We had the first version of our product within four months of starting. Of course, that product has gone through a significant overhaul since then,” says Amarjeet. "}},{"contentType":"text","value":{"formats":{},"data":"At IIIT Delhi, Amarjeet had been researching and building the energy efficiency space for almost five years before starting Zenatix. As part of his research, Amarjeet had played around with several open-source systems that were built as academic research projects catering to this specific segment. \n"}},{"contentType":"alsoRead","value":{"title":"[Product Roadmap] How fintech startup PayMe India evolved into a full-stack digital lender in just five years","thumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/PR1-1647346135418.jpeg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/03/product-roadmap-fintech-startup-payme-full-stack-digital-lender-personal-loans"}},{"contentType":"text","value":{"formats":{"header":2},"data":"A headstart\n"}},{"contentType":"text","value":{"formats":{},"data":"“We got a headstart by extending one such open-source project from University of California, Berkeley, which we found to be reasonably stable and feature rich during our research days,” he adds. \n\nThe first version of the product, a skeletal version, was an extension of this open-source project. It then developed suitable visualisations as well as basic analytics as the "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"minimum viable product (MVP)"}},{"contentType":"text","value":{"formats":{},"data":" to quickly launch for its initial customers.\n\nAfter narrowing down its focus on the consumption side, the team decided to not cater to the residential consumer segment, since energy prices are highly subsidised for that segment. \n\nAfter initially catering to different verticals across industrial and commercial clients with a product that was rich in dashboard visualisation and analytics, Zenatix’s team realised the following:\n\n"}},{"contentType":"text","value":{"formats":{"bold":true,"list":"ordered","numberedPrefix":"1. "},"data":"Visualisations"}},{"contentType":"text","value":{"formats":{},"data":" could be alluring but have a tapering effect. Customers did not care about them after some time."}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{"bold":true,"list":"ordered","numberedPrefix":"2. "},"data":"Analytics"}},{"contentType":"text","value":{"formats":{},"data":" by themselves do not result in savings. "}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“Back then, we were creating a thermal profile of a building to optimise the start and stop times of air conditioning. The optimal start time and stop time that were predicted were then notified to someone since automated control did not exist in these buildings. Thus, the savings realisation was dependent on whether the person (who was notified) acted on the message or not, which most often did not happen,” reveals Amarjeet. "}},{"contentType":"text","value":{"formats":{},"data":"The team then realised how imperative automated loop closure was, as it could not just rely on visualisation and analytics. And thus, automated control and a ticketing system based on analytics was brought into the product offering. \n\n“This closed loop control was easier to develop for smaller buildings (or retail chains) that rely more on distributed air conditioning (eg split ACs) than for larger buildings relying on centralised air conditioning. Furthermore, this small building segment had a real problem which our product was specifically addressing – their stores were geographically distributed, and standard operating procedures (SOPs) were not adhered to leading to significant leakages in energy consumption,” says Amarjeet.\n"}},{"contentType":"alsoRead","value":{"title":"[Product Roadmap] How Zoomcar brought in technology to create a niche in the car rental segment \r\n","thumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/GregMoran-1646104436067.jpeg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/03/product-roadmap-niche-car-rental-startup-zoomcar-greg-moran"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Product-market fit \n"}},{"contentType":"text","value":{"data":"This led to a product-market fit – a closed loop automated control solution serving the small and medium building segment. With his research background in the same space, and as a CTO for Zenatix, one of the core factors Amarjeet always kept in mind was that the developed architecture should account for long term scalability and flexibility. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“The open-source project we started off with had several of these necessary ingredients that we find very relevant over several years of our technical journey as well. A time series database to efficiently store and query large volume of sensor data; a suite of frameworks for allowing business teams to deliver customisations without any significant development from the technology team; and associating (thoughtful and suitable) tags with the collected data that will then aid in wide variety of analytics at a future stage,” says Amarjeet. "}},{"contentType":"text","value":{"formats":{},"data":"This first version, evolved from the open-source project, was a monolith architecture which was necessary to ensure simplicity in product development and enhancement. Over time (within the first four years), the team realised that they have added reasonable complexity in the overall stack, such that it now needs to live through the journey from monolith to a service-oriented architecture. \n\n“Another real crux of how we have architected our cloud stack from the beginning and that has lived with us throughout our journey, is to keep in mind that we will have small number of very large enterprise customers - each of whom will require custom features to be developed as per their business requirements,” explains Amarjeet.\n\nCorrespondingly, the key for the team has been to build suitable frameworks such that business teams deliver these customisations without having to come back to the technology team for new development. \n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"The stack frameworks \n"}},{"contentType":"text","value":{"formats":{},"data":"Today, the stack consists of the following frameworks that support greater customisation as well as templated workflow:\n\n"}},{"contentType":"text","value":{"formats":{"bold":true,"list":"ordered","numberedPrefix":"1. "},"data":"Metrics framework"}},{"contentType":"text","value":{"formats":{},"data":" – Allows the analytics/program management team to write custom analytical scripts using the APIs provided by the framework. This framework also then runs these scripts when it is appropriate. "}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{"bold":true,"list":"ordered","numberedPrefix":"2. "},"data":"Issue framework"}},{"contentType":"text","value":{"formats":{},"data":" – Internal teams write custom ticketing logic for creating suitable tickets from the health data collected by its own hardware (to be serviced by the field technician and partner ecosystem). They also create customer specific issues by raising tickets when anomalies are found with customers’ assets."}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{"bold":true,"list":"ordered","numberedPrefix":"3. "},"data":"Reports framework"}},{"contentType":"text","value":{"formats":{},"data":" – Any customised report can be easily added in dropdown on the reports screen provided to customers."}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{"bold":true,"list":"ordered","numberedPrefix":"4. "},"data":"Custom Dashboard framework"}},{"contentType":"text","value":{"formats":{},"data":" – Program management teams customise dashboards (widgets/blocks/pages within it) to provide custom UI/UX to different customers and different user personas within each customer."}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{},"data":"\n“As more customers demanded customisations in the product that we had built, it increasingly became clearer that the stack needed more feature rich frameworks that allow for such customisations to be done easily, without involving tech team for significant new developments,” explains Amarjeet.\n\nIn the early stages, these customisations were done in the primary product offering itself, thus making the stack overly complex. This also led to another realisation that each of these custom framework engines must be an app, and the team needed to move to a service-oriented architecture. \n\nSome of these customisations also brought in relevant and newer databases, like Druid DB rather than querying from their time series database to serve real time update needs. \n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Building on multiple systems \n"}},{"contentType":"text","value":{"data":"“As we moved to service-oriented architecture, it also became amply clear that managing such large number of dockerised services will be tricky with the lean team we have. We therefore took an early call to move all the dockerised services into a Kubernetes cluster. While it was tough early on as no one in the team was an expert in Kubernetes, as we stabilised the infrastructure, we felt it was the right design choice considering how it now automatically take care of optimally using the resources as well as ensuring the uptime of the services,” explains Amarjeet. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"As for databases, the team realised early on that bringing in the right databases for the appropriate functionality of the stack is important than to keep going with one standard database. “Across our stack, the team uses different types of databases from SQL to NoSQL to Time seriesDB and RealtimeDB to serve different requirements across the stack,” says Amarjeet. "}},{"contentType":"text","value":{"formats":{},"data":"He adds that API first has been another key thought process – allowing the team with easy integrations with third party systems (for both ingress and outgress) and supporting small custom requirements as standalone services.\n\n“Wireless first on the hardware has been a key to ensure that the systems we develop are very easy to install, especially in a brownfield or retrofit environment. We brought in WiFi very early in our stack, and it has now been more than three years since we moved away from WiFi to OpenThread – a low power wireless mesh (allowing us to have sensors that run on batteries) open sourced by Google,” says Amarjeet. \n"}},{"contentType":"alsoRead","value":{"title":"[Product Roadmap] How Lokal went from a WhatsApp group to a top hyperlocal content and social media app","thumbnail":"https://images.yourstory.com/cs/2/a09f22505c6411ea9c48a10bad99c62f/Imagepow4-1646762167239.jpg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/03/product-roadmap-lokal-hyperlocal-content-social-media-app"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Future plans \n"}},{"contentType":"text","value":{"formats":{},"data":"From ensuring customisations for large enterprise customers, Zenatix is now gearing towards serving the long tail of small customers through an ecosystem of partners. \n\nThis involves a mindset change of supporting pre-defined templates wherever possible and not getting into complex no-code customisations. “We are currently looking at different parts of our stack with how they can be templated for this very large partner ecosystem,” says Amarjeet. \n\n“Furthermore, after proving scale and reliability in the Indian markets, we recently launched our solution in the Middle East markets. We also intend to grow into Europe and US markets by the end of this year – largely driven by the partner ecosystem. This further involves doubling down on template philosophy and developing some features that these geographies will require (and that were not so relevant in the Indian context),” says Amarjeet. \n\n“Broadly, we intend to keep moving forward on the “hardware agnostic software” philosophy and reach a point where the global partner ecosystem can bring in their own hardware (certified and locally available in their geography). Their software can then run on that diverse hardware ecosystem to put everything together in a seamless plug and play manner,” concludes Amarjeet. \n"}}],"timeLapsed":"6th Apr 2022","publishedDate":"April 06, 2022"},{"id":232865,"title":"Unicorns of 2022: Multi game platform Games 24x7 becomes 15th startup to enter billion-dollar club","slug":"unicorns-2022-indian-startups-blockchain-polygon-livspace-lead-school-dealshare","type":"RICH","subtitle":"As we head into the fourth month of 2022, the Indian startup ecosystem has already seen 15 companies enter the coveted billion-dollar unicorn club.","publishedAt":"2022-04-01T05:22:42.813Z","updatedAt":"2022-04-01T05:24:21.433Z","brand":{"name":"YourStory","slug":"yourstory","locale":"en_GB","path":"/"},"metadata":{"authors":[{"name":"Team YS","username":"webmaster","order":0,"path":"/author/webmaster"}],"category":{"id":464,"name":"In Depth","slug":"ys-in-depth","path":"/category/ys-in-depth"},"excerpt":"As we head into the fourth month of 2022, the Indian startup ecosystem has already seen 15 companies enter the coveted billion-dollar unicorn club.","media":"https://images.yourstory.com/cs/2/e641e900925711e9926177f451727da9/Image141m-1644327715299.jpg","thumbnail":"https://images.yourstory.com/cs/2/e641e900925711e9926177f451727da9/Image141m-1644327715299.jpg","defaultThumbnail":"https://images.yourstory.com/cs/2/e641e900925711e9926177f451727da9/Image141m-1644327715299.jpg","brandSpotlight":null,"removeAds":null,"curatedCategories":[],"sponsoredStory":null,"isRegistrationRequired":false,"timeToRead":10,"articleTopics":[],"richArticleTopics":[{"id":"991ea520-663e-11eb-b571-b76e0f3e580d","slug":"business-and-tech-news","name":"Business and Tech News","type":"RICH-ARTICLE-TOPIC","order":0}],"tags":[{"name":"Polygon","slug":"polygon","order":0,"path":"/tag/polygon"},{"name":"Lead School","slug":"lead-school","order":1,"path":"/tag/lead-school"},{"name":"fractal","slug":"fractal","order":2,"path":"/tag/fractal"},{"name":"Darwinbox","slug":"darwinbox","order":3,"path":"/tag/darwinbox"},{"name":"DealShare","slug":"dealshare-","order":4,"path":"/tag/dealshare-"},{"name":"Livspace","slug":"livspace","order":5,"path":"/tag/livspace"},{"name":"ElasticRun ","slug":"elasticrun-","order":6,"path":"/tag/elasticrun-"},{"name":"Unicorns","slug":"unicorns","order":7,"path":"/tag/unicorns"},{"name":"startups","slug":"startups--","order":8,"path":"/tag/startups--"},{"name":"unicorns of india","slug":"unicorns-of-india","order":9,"path":"/tag/unicorns-of-india"}]},"snippets":null,"trailers":null,"path":"/2022/02/unicorns-2022-indian-startups-blockchain-polygon-livspace-lead-school-dealshare","featured":true,"mobilePostJson":[{"contentType":"text","value":{"formats":{},"data":"As we head into the fourth month of 2022, the Indian startup ecosystem has already added 15 new entrants to the coveted $1 billion valuation club. 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"}},{"contentType":"companyWidget","value":{"id":"73e277e0-dee9-11eb-9c03-dfb7187afa73","name":"Polygon","slug":"polygon","logo":{"height":300,"width":300,"imageKey":"cs/images/companies/q4itcBEb400x4001-1635424132773.jpg","url":"https://images.yourstory.com/cs/images/companies/q4itcBEb400x4001-1635424132773.jpg"},"subtitle":"Polygon is a protocol and a framework for building and connecting Ethereum-compatible blockchain networks.","foundingDate":"2017-01-01","companyURL":"https://yourstory.com/companies/polygon","companyCoreTeam":[{"name":"Jaynti Kanani"},{"name":"Sandeep nailwal"},{"name":"Anurag Arjun"},{"name":"Mihailo Bjelic"}],"sectors":[{"name":"Enterprise Tech","slug":"enterprise-tech"},{"name":"Technology","slug":"technology"},{"name":"Blockchain","slug":"blockchain"},{"name":"Services","slug":"services"}]}},{"contentType":"text","value":{"formats":{},"data":" (blockchain), 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"}},{"contentType":"companyWidget","value":{"id":"124cf180-8f8b-11ea-a5df-9b2262f260d6","name":"ElasticRun","slug":"elasticrun","logo":{"height":300,"width":300,"imageKey":"cs/images/companies/KQg3VSsQ400x4001-1592212334989.jpg","url":"https://images.yourstory.com/cs/images/companies/KQg3VSsQ400x4001-1592212334989.jpg"},"subtitle":"ElasticRun is an asset-light, app-driven, logistics and distribution company.","foundingDate":"2014-03-21","companyURL":"https://yourstory.com/companies/elasticrun","companyCoreTeam":[{"name":"Sandeep Deshmukh"},{"name":"Shitiz Bansal"},{"name":"Saurabh Nigam"}],"sectors":[{"name":"Logistics","slug":"logistics"}]}},{"contentType":"text","value":{"formats":{},"data":" (B2B ecommerce), "}},{"contentType":"companyWidget","value":{"id":"8fd9f7a0-8a1e-11ea-bfa2-7730cd9ba093","name":"Xpressbees","slug":"xpressbees","logo":{"height":1000,"width":1000,"imageKey":"cs/images/companies/Xpressbees-1588167445449.png","url":"https://images.yourstory.com/cs/images/companies/Xpressbees-1588167445449.png"},"subtitle":"Xpressbees is an e-commerce logistics company founded by Amitava Saha and Supam Maheshwari in 2015.","foundingDate":"2015-09-01","companyURL":"https://yourstory.com/companies/xpressbees","companyCoreTeam":[{"name":"Amitava Saha"},{"name":"Supam Maheshwari"}],"sectors":[{"name":"E-Commerce","slug":"e-commerce"},{"name":"Logistics","slug":"logistics"}]}},{"contentType":"text","value":{"formats":{},"data":"(logistics), "}},{"contentType":"companyWidget","value":{"id":"227863b0-8e04-11ea-a7a0-998b3a596803","name":"Uniphore","slug":"uniphore","logo":{"height":300,"width":300,"imageKey":"cs/images/companies/Uniphore-1588596012425.jpg","url":"https://images.yourstory.com/cs/images/companies/Uniphore-1588596012425.jpg"},"subtitle":"The San Francisco and Chennai based startup Uniphore offers a customer service platform driven by artificial intelligence and automation technologies.","foundingDate":"2008-04-01","companyURL":"https://yourstory.com/companies/uniphore","companyCoreTeam":[{"name":"Umesh Sachdev"},{"name":"Ravi Saraogi"}],"sectors":[{"name":"Consumer","slug":"consumer"},{"name":"SaaS","slug":"saas"},{"name":"Software","slug":"software"},{"name":"Analytics & BI","slug":"analytics-bi"}]}},{"contentType":"text","value":{"formats":{},"data":" (conversational AI), "}},{"contentType":"companyWidget","value":{"id":"4d8d4710-947d-11ec-a1ad-65df9e765f89","name":"Hasura","slug":"hasura","logo":{"height":539,"width":539,"imageKey":"cs/images/companies/Hasura-1645603242381.png","url":"https://images.yourstory.com/cs/images/companies/Hasura-1645603242381.png"},"subtitle":"Hasura is a software company which helps developers with tools.","foundingDate":"2017-06-01","companyURL":"https://yourstory.com/companies/hasura","companyCoreTeam":[{"name":"Rajoshi Ghosh"},{"name":"Tanmai Gopal"}],"sectors":[{"name":"Enterprise Tech","slug":"enterprise-tech"},{"name":"Software","slug":"software"},{"name":"Technology","slug":"technology"}]}},{"contentType":"text","value":{"formats":{},"data":" (GraphQL developer), "}},{"contentType":"companyWidget","value":{"id":"f1271ca0-f8db-11ea-b1e7-cf36f77bcb42","name":"CredAvenue","slug":"credavenue","logo":{"height":400,"width":400,"imageKey":"cs/images/companies/download-1612551031884.jpg","url":"https://images.yourstory.com/cs/images/companies/download-1612551031884.jpg"},"subtitle":"CredAvenue is a one-stop shop for enterprise debt.","foundingDate":"2017-06-22","companyURL":"https://yourstory.com/companies/credavenue","companyCoreTeam":[{"name":"Gaurav Kumar"},{"name":"Vineet Sukumar"}],"sectors":[{"name":"Financial Services","slug":"financial-services"}]}},{"contentType":"text","value":{"formats":{},"data":" (fintech), "}},{"contentType":"companyWidget","value":{"id":"b644d2b0-b099-11ea-aeac-c9cb75e20ffe","name":"Perfios","slug":"perfios","logo":{"height":300,"width":300,"imageKey":"cs/images/companies/Perfios-FULL-Logo300x300-1592399672563.jpg","url":"https://images.yourstory.com/cs/images/companies/Perfios-FULL-Logo300x300-1592399672563.jpg"},"subtitle":"Perfios is a product technology company in the FinTech space enabling Financial Institutions in realtime decisioning, analysis and credit underwriting. ","foundingDate":"2007-11-07","companyURL":"https://yourstory.com/companies/perfios","companyCoreTeam":[{"name":"Debasish Chakraborty"},{"name":"V.R. Govindarajan"},{"name":"Kunnath Santosh"}],"sectors":[{"name":"Financial Services","slug":"financial-services"},{"name":"FinTech","slug":"fintech"}]}},{"contentType":"text","value":{"formats":{},"data":" (fintech), "}},{"contentType":"companyWidget","value":{"id":"87d0f010-e93f-11ea-ada3-99d32a34b289","name":"Amagi","slug":"amagi","logo":{"height":320,"width":320,"imageKey":"cs/images/companies/5451759720407193959634002339805398682304512n-1598626999524.jpg","url":"https://images.yourstory.com/cs/images/companies/5451759720407193959634002339805398682304512n-1598626999524.jpg"},"subtitle":"Amagi is a global leader in SaaS technology providing end-to-end cloud managed live and on-demand video infrastructure for TV and OTT.","foundingDate":"2008-01-01","companyURL":"https://yourstory.com/companies/amagi","companyCoreTeam":[{"name":"Baskar Subramanian"},{"name":"Srividhya Srinivasan"},{"name":"Srinivasan KA"}],"sectors":[{"name":"Media","slug":"media"},{"name":"Software","slug":"software"}]}},{"contentType":"text","value":{"formats":{},"data":"(mediatech), "}},{"contentType":"companyWidget","value":{"id":"7ddcdc50-ab5c-11ec-85ba-615ba21a8aa9","name":"Oxyzo","slug":"oxyzo","logo":{"height":300,"width":300,"imageKey":"cs/images/companies/2641532522276317061802552940494013279455980n-1648117651344.jpg","url":"https://images.yourstory.com/cs/images/companies/2641532522276317061802552940494013279455980n-1648117651344.jpg"},"subtitle":"Oxyzo offers credit solutions that customized to help SMEs expand their operations, revenue, and consequently their profit margins.\r\n","foundingDate":"2016-01-01","companyURL":"https://yourstory.com/companies/oxyzo","companyCoreTeam":[{"name":"Asish Mohapatra"},{"name":"Ruchi Kalra"}],"sectors":[{"name":"Financial Services","slug":"financial-services"}]}},{"contentType":"text","value":{"formats":{},"data":" (fintech), and the latest, "}},{"contentType":"companyWidget","value":{"id":"6582ea50-b3f5-11eb-9a51-395094f55276","name":"Games 24x7","slug":"games-24x7","logo":{"height":400,"width":400,"imageKey":"cs/images/companies/DbHEsvlI400x400-1620915211530.jpg","url":"https://images.yourstory.com/cs/images/companies/DbHEsvlI400x400-1620915211530.jpg"},"subtitle":"Games24x7 is an online gaming startup with a portfolio that spans skill games.","foundingDate":"2006-01-01","companyURL":"https://yourstory.com/companies/games-24x7","companyCoreTeam":[{"name":"Bhavin Pandya"},{"name":"Trivikraman Thampy"}],"sectors":[{"name":"Gaming","slug":"gaming"},{"name":"Analytics & BI","slug":"analytics-bi"}]}},{"contentType":"text","value":{"data":"(gaming). \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"And, there is more to come. According to a PwC report, over 50 Indian startups have the potential to enter the unicorn club — startups valued at over $1 billion each — in 2022."}},{"contentType":"text","value":{"formats":{},"data":"The year 2021 saw the"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" emergence of "}},{"contentType":"text","value":{"formats":{"bold":true,"link":"https://yourstory.com/2021/04/2021-unicorns-indian-startups-innovaccer-digit-insurance/amp"},"data":"44 startup unicorns"}},{"contentType":"text","value":{"formats":{},"data":" against a"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" cumulative number of 33 unicorns from 2011 to 2020."}},{"contentType":"text","value":{"formats":{},"data":"\n\nGiven the record-breaking year of 2021, in terms of fund inflow and the emergence of unicorns from the Indian startup ecosystem, 2022 is expected to continue the momentum. "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Let’s have a look at the 15 unicorns of 2022."}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/e641e900925711e9926177f451727da9/01-02-1648750550249.png"}},{"contentType":"alsoRead","value":{"title":"YourStory presents Unicorns of India — a real-time data-driven platform","thumbnail":"https://images.yourstory.com/cs/2/a09f22505c6411ea9c48a10bad99c62f/Image7zgz-1639761759452-1639761861125.jpg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2021/12/yourstory-unicorns-of-india-wealthdesk-third-wave-coffee-roasters"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Fractal\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/bc14afb0357911eca2270b39b804102d/CopyofImageTaggingNewBrandingEditorialTeamMaster-1641385416234.jpg","caption":"\u003cp>Srikanth Velamakanni, Co-founder and Group CEO, Fractal\u003c/p>"}},{"contentType":"text","value":{"formats":{},"data":"New York, US, and Mumbai-headquartered artificial intelligence (AI) and advanced analytics solutions provider "}},{"contentType":"text","value":{"formats":{"bold":true,"link":"https://yourstory.com/2022/01/tpg-capital-asia-invest-360m-fractal-apax-srikanth-velamakanni-pranay-agrawal/amp"},"data":"Fractal, in January, "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/01/tpg-capital-asia-invest-360m-fractal-apax-srikanth-velamakanni-pranay-agrawal/amp"},"data":"announced raising $360 million from TPG Capital Asia"}},{"contentType":"text","value":{"formats":{},"data":", the Asia-focused private equity platform of global alternative asset firm TPG.\n\nThe definitive investment agreement between the parties is expected to close by the first quarter of 2022. According to media reports, Fractal was valued at over $1 billion as part of the funding round. \n\nThe current round will take the total equity capital raised by the company to $685 million and see TPG’s Puneet Bhatia and Vivek Mohan join Fractal’s board of directors. \n"}},{"contentType":"alsoRead","value":{"title":"[Funding alert] TPG invests $360M in AI and advanced analytics solutions provider Fractal","thumbnail":"https://images.yourstory.com/cs/2/bc14afb0357911eca2270b39b804102d/CopyofImageTaggingNewBrandingEditorialTeamMaster-1641385416234.jpg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/01/tpg-capital-asia-invest-360m-fractal-apax-srikanth-velamakanni-pranay-agrawal"}},{"contentType":"text","value":{"formats":{"header":2},"data":"LEAD\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/220356402d6d11e9aa979329348d4c3e/Leadschool-P-1598000242491.png","caption":"\u003cp>\u003cspan style=\"color: rgb(34, 34, 34);\">LEAD co-founders: \u003c/span>\u003cspan style=\"color: rgb(34, 34, 34); background-color: rgb(255, 255, 255);\">Smita Deorah and \u003c/span>\u003cspan style=\"color: rgb(34, 34, 34);\">Sumeet Mehta\u003c/span>\u003c/p>"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Edtech startup "}},{"contentType":"companyWidget","value":{"id":"0a9ec570-e7ac-11ea-bc53-651c09c312da","name":"LEAD","slug":"lead","logo":{"height":1000,"width":1000,"imageKey":"cs/images/companies/LEAD-Logo-1644410892296.jpg","url":"https://images.yourstory.com/cs/images/companies/LEAD-Logo-1644410892296.jpg"},"subtitle":"LEAD is India's foremost player in the School EdTech category which is transforming school education","foundingDate":"2012-06-01","companyURL":"https://yourstory.com/companies/lead","companyCoreTeam":[{"name":"Sumeet Mehta"},{"name":"Smita Deorah"},{"name":"Manoj Naik"}],"sectors":[{"name":"Education","slug":"education"},{"name":"Services","slug":"services"},{"name":"EdTech/Education","slug":"edtech-education"}]}},{"contentType":"text","value":{"formats":{},"data":" (previously LEAD School) in January"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" raised Series E funding of $100 million "}},{"contentType":"text","value":{"formats":{},"data":"at a "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/01/lead-becomes-the-first-unicorn-of-2022-with-100-million-westbridge-capital-series-e-edtech-startup/amp"},"data":"valuation of $1.1 billion"}},{"contentType":"text","value":{"formats":{},"data":". The "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"first edtech unicorn of 2022 "}},{"contentType":"text","value":{"formats":{},"data":"is also the first school edtech player to enter the coveted club.\n\nThe round was led by "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"WestBridge Capital "}},{"contentType":"text","value":{"formats":{},"data":"and saw participation from GSV Ventures. The company’s valuation has doubled in the last nine months on the back of strong growth in its operating and financial metrics. The current round is its fifth round of institutional funding since 2017.\n\nLEAD will use the capital to achieve its vision of providing quality affordable education to 25 million+ students, with an annual revenue run-rate of $1 billion. Its immediate focus will be on product and curriculum innovation, growth in its footprint, and hiring top talent across functions.\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"\u003cb>In the long term, the company plans to go deeper into the country to serve students in lower-fee schools and expand internationally in similar geographies.\u003c/b>"}},{"contentType":"alsoRead","value":{"title":"[Funding alert] LEAD becomes the first edtech unicorn of 2022 after raising $100M","thumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/LEAD-1642046277391.jpeg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/01/lead-becomes-the-first-unicorn-of-2022-with-100-million-westbridge-capital-series-e-edtech-startup"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Darwinbox\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/a09f22505c6411ea9c48a10bad99c62f/Image42iw-1643037235793.jpg"}},{"contentType":"text","value":{"formats":{},"data":"Hyderabad-based HRtech startup "}},{"contentType":"companyWidget","value":{"id":"21af1920-b478-11ea-b6b1-e1c46acbb7ab","name":"Darwinbox","slug":"darwinbox","logo":{"height":400,"width":400,"imageKey":"cs/images/companies/darwin3400x400-1592823876545.png","url":"https://images.yourstory.com/cs/images/companies/darwin3400x400-1592823876545.png"},"subtitle":"Darwinbox is providing end to end HR Technology platform built for Enterprise","foundingDate":"2015-10-01","companyURL":"https://yourstory.com/companies/darwinbox","companyCoreTeam":[{"name":"Chaitanya Peddi"},{"name":"Jayant Paleti"},{"name":"Rohit Chennamaneni"}],"sectors":[{"name":"Recruitment","slug":"recruitment"},{"name":"SaaS","slug":"saas"},{"name":"Software","slug":"software"}]}},{"contentType":"text","value":{"formats":{},"data":" raised "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"$72 million"}},{"contentType":"text","value":{"formats":{},"data":" in a funding round led by "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Technology Crossover Ventures (TCV)"}},{"contentType":"text","value":{"formats":{},"data":", along with participation from existing investors "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Salesforce Ventures, Sequoia India, Lightspeed India, Endiya Partners, 3One4Capital, JGDEV, and SCB 10X"}},{"contentType":"text","value":{"formats":{},"data":".\n\nThe company’s valuation post the Series D round has "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/01/hrtech-saas-startup-darwinbox-unicorn-series-d-funding-valuation/amp"},"data":"crossed the $1 billion mark"}},{"contentType":"text","value":{"formats":{},"data":", with the total investment raised thus far crossing "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"$110 million"}},{"contentType":"text","value":{"formats":{},"data":". DealShare has grown "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"200 percent"}},{"contentType":"text","value":{"formats":{},"data":" since its last fundraise from Salesforces Ventures, about a year ago.\n\nFounded in late 2015 by "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Chaitanya Peddi, Jayant Paleti, and Rohit Chennamaneni"}},{"contentType":"text","value":{"formats":{},"data":", Darwinbox aims to use the funds for global expansion by accelerating its platform innovation agenda, strengthening its product, engineering, and customer success teams, along with scaling its go-to-market (GTM) presence in South Asia, Southeast Asia, and MENA (the Middle East and North Africa).\n\nThe team added that they aim to take Darwinbox public by 2025.\n"}},{"contentType":"alsoRead","value":{"title":"[Funding alert] Darwinbox turns unicorn; raises $72M in Series D round led by Technology Crossover Ventures","thumbnail":"https://images.yourstory.com/cs/2/a09f22505c6411ea9c48a10bad99c62f/Image42iw-1643037235793.jpg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/01/hrtech-saas-startup-darwinbox-unicorn-series-d-funding-valuation"}},{"contentType":"text","value":{"formats":{"header":2},"data":"DealShare\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/b87effd06a6611e9ad333f8a4777438f/Image4z5r-1607403468281-1614836952376.jpg","caption":"\u003cp>\u003cem style=\"color: rgb(25, 26, 27);\">Dealshare Founding team\u003c/em>\u003c/p>"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Social commerce platform "}},{"contentType":"companyWidget","value":{"id":"bca10d80-b9d7-11ea-bb2b-bb87b804f2a0","name":"DealShare","slug":"dealshare","logo":{"height":960,"width":960,"imageKey":"cs/images/companies/819049545784472662696108536620952501354496o-1593414682133.jpg","url":"https://images.yourstory.com/cs/images/companies/819049545784472662696108536620952501354496o-1593414682133.jpg"},"subtitle":"Dealshare is a social e-commerce startup, an online buying platform for multi-category consumer products","foundingDate":"2018-09-01","companyURL":"https://yourstory.com/companies/dealshare","companyCoreTeam":[{"name":"Vineet Rao"},{"name":"Sourjyendu Medda"},{"name":"Rajat Shikhar"}],"sectors":[{"name":"E-Commerce","slug":"e-commerce"}]}},{"contentType":"text","value":{"formats":{"bold":true},"data":" "}},{"contentType":"text","value":{"formats":{},"data":"raised "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"$165 million in the first close of its Series E round "}},{"contentType":"text","value":{"formats":{},"data":"from "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Dragoneer Investments Group, Kora Capital, and Unilever Ventures"}},{"contentType":"text","value":{"formats":{},"data":". Existing investors "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Tiger Global and Alpha Wave Global"}},{"contentType":"text","value":{"formats":{},"data":" (Falcon Edge) also participated in the round.\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"\u003cb>This capital infusion saw DealShare entering the \u003c/b>\u003ca href=\"https://yourstory.com/2022/01/bengaluru-jaipur-ecommerce-startup-dealshare-funding-enters-unicorn-club-tiger-global/amp\">\u003cb>coveted billion-dollar unicorn club\u003c/b>\u003c/a>\u003cb> after its valuation rose to over $1.6 billion.\u003c/b>"}},{"contentType":"text","value":{"formats":{},"data":"Founded in September 2018 by "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Vineet Rao, Sourjyendu Medda, Sankar Bora, and Rajat Shikhar"}},{"contentType":"text","value":{"formats":{},"data":", three-year-old startup DealShare uses a community-driven approach to offer high-quality, low-priced essentials for mass consumers at competitive prices, especially in Tier II and III cities.\n"}},{"contentType":"alsoRead","value":{"title":"[Funding Alert] DealShare enters unicorn club, raises $165M in Series E round ","thumbnail":"https://images.yourstory.com/cs/2/f86c090087cc11eba777b34f5b721f5e/Dealshare-1638458889606.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/01/bengaluru-jaipur-ecommerce-startup-dealshare-funding-enters-unicorn-club-tiger-global"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Polygon\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/e641e900925711e9926177f451727da9/Imageysjo-1624538584163.jpg","caption":"\u003cp>Polygon cofounders (L to R) \u003cspan style=\"background-color: rgb(255, 255, 255); color: rgb(0, 0, 0);\">Anurag Arjun, Sandeep Nailwal and Jaynti Kanani\u003c/span>\u003c/p>"}},{"contentType":"text","value":{"formats":{},"data":"Ethereum scaling project "}},{"contentType":"companyWidget","value":{"id":"73e277e0-dee9-11eb-9c03-dfb7187afa73","name":"Polygon","slug":"polygon","logo":{"height":300,"width":300,"imageKey":"cs/images/companies/q4itcBEb400x4001-1635424132773.jpg","url":"https://images.yourstory.com/cs/images/companies/q4itcBEb400x4001-1635424132773.jpg"},"subtitle":"Polygon is a protocol and a framework for building and connecting Ethereum-compatible blockchain networks.","foundingDate":"2017-01-01","companyURL":"https://yourstory.com/companies/polygon","companyCoreTeam":[{"name":"Jaynti Kanani"},{"name":"Sandeep nailwal"},{"name":"Anurag Arjun"},{"name":"Mihailo Bjelic"}],"sectors":[{"name":"Enterprise Tech","slug":"enterprise-tech"},{"name":"Technology","slug":"technology"},{"name":"Blockchain","slug":"blockchain"},{"name":"Services","slug":"services"}]}},{"contentType":"text","value":{"formats":{},"data":" (previously Matic Network) raised "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"$450 million "}},{"contentType":"text","value":{"formats":{},"data":"in its first major VC financing round led by "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Sequoia Capital India"}},{"contentType":"text","value":{"formats":{},"data":", with participation from Tiger Global, SoftBank, Galaxy Digital, Republic Capital, Makers Fund, Alameda Research, Alan Howard, Alexis Ohanian, Steadview Capital, Elevation Capital, Animoca Brands, Spartan Fund, Dragonfly Capital, Variant Fund, and Kevin O’Leary.\n\nThe funds will be raised through a private sale of Polygon’s native MATIC token. The Web3 startup's market cap was "}},{"contentType":"text","value":{"formats":{"bold":true,"link":"https://yourstory.com/the-decrypting-story/funding-alert-polygon-sequoia-tiger-softbank-ethereum/amp"},"data":"$14.4 billion"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" "}},{"contentType":"text","value":{"formats":{},"data":"at the time of publishing.\n\nIn a statement, Polygon claimed the fundraise will allow the team to consolidate its lead in the race to scale Ethereum, obviating the need for alternative blockchains and paving the way for mass adoption of Web3 applications.\n"}},{"contentType":"alsoRead","value":{"title":"[Funding alert] Polygon raises $450M from Sequoia India, Galaxy, Tiger, SoftBank, Republic Capital, others in first VC round","thumbnail":"https://images.yourstory.com/cs/121/98e25df018b511e988ceff9061f4e5e7/NEWImageTaggingNewBrandingEditorialTeamMaster5-1644248163338.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/the-decrypting-story/funding-alert-polygon-sequoia-tiger-softbank-ethereum"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Livspace\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/Livspace-1644288209124.jpeg"}},{"contentType":"text","value":{"formats":{},"data":"Omnichannel home interior and renovation platform,"}},{"contentType":"companyWidget","value":{"id":"c30e9010-5d80-11ea-9890-7184fa8964a9","name":"Livspace","slug":"livspace","logo":{"height":300,"width":300,"imageKey":"cs/images/companies/livspace-1583261819701.jpg","url":"https://images.yourstory.com/cs/images/companies/livspace-1583261819701.jpg"},"subtitle":"Livspace is a home interior design and renovation platform.","foundingDate":"2014-05-01","companyURL":"https://yourstory.com/companies/livspace","companyCoreTeam":[{"name":"Ramakant sharma"},{"name":"Anuj Srivastava"},{"name":" Shagufta Anurag"}],"sectors":[{"name":"Art & Design","slug":"art-design"},{"name":"E-Commerce","slug":"e-commerce"}]}},{"contentType":"text","value":{"formats":{},"data":" raised"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" "}},{"contentType":"text","value":{"formats":{"bold":true,"link":"https://yourstory.com/2022/02/with-180m-raised-as-fresh-capital-livspace-now-loo/amp"},"data":"$180 million in Series F "}},{"contentType":"text","value":{"formats":{},"data":"with KKR participating as the lead investor.\n\nThe latest funding round, which elevated Livspace to the coveted unicorn club, also saw participation from existing investors such as "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Ingka Group Investments"}},{"contentType":"text","value":{"formats":{},"data":" (part of largest IKEA retailer Ingka Group), "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Jungle Ventures, Venturi Partners, and Peugeot Investments"}},{"contentType":"text","value":{"formats":{},"data":", among others.\n\nWith the funding, Livspace will expand to new markets, focus on brand building in India and Singapore, continue investing in its platform technology and digitally integrated supply chain, and hire, develop, and nurture talent across the board to support both new and existing businesses.\n"}},{"contentType":"alsoRead","value":{"title":"With $180M raised as fresh capital, newest unicorn Livspace now looks at market expansion and strategic 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company.","foundingDate":"2014-03-21","companyURL":"https://yourstory.com/companies/elasticrun","companyCoreTeam":[{"name":"Sandeep Deshmukh"},{"name":"Shitiz Bansal"},{"name":"Saurabh Nigam"}],"sectors":[{"name":"Logistics","slug":"logistics"}]}},{"contentType":"text","value":{"formats":{},"data":", a B2B ecommerce startup that supplies goods to kiranas, raised "}},{"contentType":"text","value":{"formats":{"bold":true,"link":"https://yourstory.com/2022/02/funding-alert-elasticrun-startup-unicorn-b2b-ecommerce-kiranas/amp"},"data":"$300 million in its Series E"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" funding round at a $1.5 billion valuation "}},{"contentType":"text","value":{"formats":{},"data":"from investors such as SoftBank and Goldman Sachs. Existing investor Prosus Ventures also took part in the round, the startup said.\n\nElasticRun will use the capital to "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"expand and grow its operations."}},{"contentType":"text","value":{"formats":{},"data":" It may close the "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Series E round with a much higher capital infusion"}},{"contentType":"text","value":{"formats":{},"data":" if it receives any more interest till March 21, when the subscription ends, according to its filing.\n\nFounded by "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Sandeep Deshmukh, Saurabh Nigam, "}},{"contentType":"text","value":{"formats":{},"data":"and "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Shitiz Bansal"}},{"contentType":"text","value":{"formats":{},"data":" in "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"2016"}},{"contentType":"text","value":{"formats":{},"data":", ElasticRun operates in over 300 cities in India and works with over 125,000 retail outlets. It helps kiranas place bulk orders for goods online, as well as provides an analytics and aggregation platform.\n"}},{"contentType":"alsoRead","value":{"title":"[Funding alert] Xpressbees turns unicorn with $300M Series F round \r\n","thumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/Amitava-1644384045992.jpeg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/02/funding-alert-xpressbees-raises-300m-blackstone-tpg-chryscapital"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Xpressbees\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/Amitava-1644384045992.jpeg"}},{"contentType":"text","value":{"formats":{},"data":"Third-party logistics provider "}},{"contentType":"companyWidget","value":{"id":"8fd9f7a0-8a1e-11ea-bfa2-7730cd9ba093","name":"Xpressbees","slug":"xpressbees","logo":{"height":1000,"width":1000,"imageKey":"cs/images/companies/Xpressbees-1588167445449.png","url":"https://images.yourstory.com/cs/images/companies/Xpressbees-1588167445449.png"},"subtitle":"Xpressbees is an e-commerce logistics company founded by Amitava Saha and Supam Maheshwari in 2015.","foundingDate":"2015-09-01","companyURL":"https://yourstory.com/companies/xpressbees","companyCoreTeam":[{"name":"Amitava Saha"},{"name":"Supam Maheshwari"}],"sectors":[{"name":"E-Commerce","slug":"e-commerce"},{"name":"Logistics","slug":"logistics"}]}},{"contentType":"text","value":{"formats":{},"data":" raised "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/02/funding-alert-xpressbees-raises-300m-blackstone-tpg-chryscapital/amp"},"data":"$300 million in a Series F"}},{"contentType":"text","value":{"formats":{},"data":" funding round "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"at a valuation of $1.2 billion"}},{"contentType":"text","value":{"formats":{},"data":". The round was led by private equity funds Blackstone Growth, TPG Growth, and ChrysCapital. Existing investors, Investcorp and Norwest Venture Partners, also participated in the latest round.\n\nWith this round, the total amount of capital raised by Xpressbees exceeds $500 million. Avendus Capital acted as the exclusive financial advisor to Xpressbees on this transaction.\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"\u003cb>Xpressbees, in a statement, said it will use the fresh capital to become a full-service logistics organisation, support the business in its next phase of growth, product development, and hire talent.\u003c/b>"}},{"contentType":"alsoRead","value":{"title":"[Funding alert] Uniphore raises $400M in Series E, joins unicorn club with $2.5B valuation","thumbnail":"https://images.yourstory.com/cs/2/ba9e8080834311ec9e7e95cb06cf6856/uniphore-1645015689753.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/02/funding-alert-uniphore-series-e-round-nea-march-capital"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Uniphore\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/a0bad530ce5d11e9a3fb4360e4b9139b/Imagefcxu-1591872571494.jpg","caption":"\u003cp>\u003cspan style=\"color: rgb(158, 158, 158); background-color: rgb(255, 255, 255);\">Uniphore founders: Ravi Saraogi (left) and Umesh Sachdev\u003c/span>\u003c/p>"}},{"contentType":"companyWidget","value":{"id":"227863b0-8e04-11ea-a7a0-998b3a596803","name":"Uniphore","slug":"uniphore","logo":{"height":300,"width":300,"imageKey":"cs/images/companies/Uniphore-1588596012425.jpg","url":"https://images.yourstory.com/cs/images/companies/Uniphore-1588596012425.jpg"},"subtitle":"The San Francisco and Chennai based startup Uniphore offers a customer service platform driven by artificial intelligence and automation technologies.","foundingDate":"2008-04-01","companyURL":"https://yourstory.com/companies/uniphore","companyCoreTeam":[{"name":"Umesh Sachdev"},{"name":"Ravi Saraogi"}],"sectors":[{"name":"Consumer","slug":"consumer"},{"name":"SaaS","slug":"saas"},{"name":"Software","slug":"software"},{"name":"Analytics & BI","slug":"analytics-bi"}]}},{"contentType":"text","value":{"formats":{},"data":", a "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Chennai "}},{"contentType":"text","value":{"formats":{},"data":"and "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"California"}},{"contentType":"text","value":{"formats":{},"data":"-based conversational automation startup, raised "}},{"contentType":"text","value":{"formats":{"bold":true,"link":"https://yourstory.com/2022/02/funding-alert-uniphore-series-e-round-nea-march-capital/amp"},"data":"$400 million in a Series E "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/02/funding-alert-uniphore-series-e-round-nea-march-capital/amp"},"data":"round"}},{"contentType":"text","value":{"formats":{},"data":" of funding. \n\nThe round, which brings Uniphore’s total funding to more than half a billion ($610 million), is led by American venture capital (VC) firm NEA and raises the company’s valuation to $2.5 billion.\n\nVC and growth equity firm "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"March Capital "}},{"contentType":"text","value":{"formats":{},"data":"and other existing investors along with new entities also chipped in. \n"}},{"contentType":"alsoRead","value":{"title":"[Funding alert] GraphQL developer Hasura turns unicorn, secures $100M in Series C funding ","thumbnail":"https://images.yourstory.com/cs/2/40d66ae0f37111eb854989d40ab39087/ImagesFrames1-1645547484910.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/02/-funding-alert-hasura-raises-100m-series-c-fund"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Hasura\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/40d66ae0f37111eb854989d40ab39087/ImagesFrames1-1645547484910.png"}},{"contentType":"companyWidget","value":{"id":"4d8d4710-947d-11ec-a1ad-65df9e765f89","name":"Hasura","slug":"hasura","logo":{"height":539,"width":539,"imageKey":"cs/images/companies/Hasura-1645603242381.png","url":"https://images.yourstory.com/cs/images/companies/Hasura-1645603242381.png"},"subtitle":"Hasura is a software company which helps developers with tools.","foundingDate":"2017-06-01","companyURL":"https://yourstory.com/companies/hasura","companyCoreTeam":[{"name":"Rajoshi Ghosh"},{"name":"Tanmai Gopal"}],"sectors":[{"name":"Enterprise Tech","slug":"enterprise-tech"},{"name":"Software","slug":"software"},{"name":"Technology","slug":"technology"}]}},{"contentType":"text","value":{"formats":{},"data":", a GraphQL developer startup raised "}},{"contentType":"text","value":{"formats":{"bold":true,"link":"https://yourstory.com/2022/02/-funding-alert-hasura-raises-100m-series-c-fund/amp"},"data":"$100 million in a Series C funding"}},{"contentType":"text","value":{"formats":{},"data":" round led by Greenoaks.\n\nThe latest round brings the total capital raised by "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Hasura to $136.5 million and the startup's valuation to $1 billion"}},{"contentType":"text","value":{"formats":{},"data":", making this startup the tenth unicorn of the year. Existing investors Nexus Venture Partners, Lightspeed Venture Partners, and Vertex Ventures also chipped in, according to a statement.\n\nHasura claims its solution has been downloaded more than 400 million times and has earned more than 25,000 GitHub stars since its introduction in 2018.\n"}},{"contentType":"alsoRead","value":{"title":"[Jobs Roundup] These openings may help you land a role at conversational automation unicorn Uniphore","thumbnail":"https://images.yourstory.com/cs/2/ba9e8080834311ec9e7e95cb06cf6856/uniphore-1645015689753.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/02/conversational-automation-startup-uniphore-jobs"}},{"contentType":"text","value":{"formats":{"header":2},"data":"CredAvenue\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/bc14afb0357911eca2270b39b804102d/CopyofImageTaggingNewBrandingEditorialTeamMaster4-1646559662228.png","caption":"\u003cp>Gaurav Kumar, Founder and CEO, CredAvenue\u003c/p>"}},{"contentType":"text","value":{"formats":{},"data":"Chennai-headquartered debt marketplace for enterprises "}},{"contentType":"companyWidget","value":{"id":"f1271ca0-f8db-11ea-b1e7-cf36f77bcb42","name":"CredAvenue","slug":"credavenue","logo":{"height":400,"width":400,"imageKey":"cs/images/companies/download-1612551031884.jpg","url":"https://images.yourstory.com/cs/images/companies/download-1612551031884.jpg"},"subtitle":"CredAvenue is a one-stop shop for enterprise debt.","foundingDate":"2017-06-22","companyURL":"https://yourstory.com/companies/credavenue","companyCoreTeam":[{"name":"Gaurav Kumar"},{"name":"Vineet Sukumar"}],"sectors":[{"name":"Financial Services","slug":"financial-services"}]}},{"contentType":"text","value":{"formats":{},"data":" "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"raised "}},{"contentType":"text","value":{"formats":{"bold":true,"link":"https://yourstory.com/2022/03/startup-funding-alert-credavenue-unicorn-insight-partners-dragoneer-b-capital/amp"},"data":"$137 million in a Series B round"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" of funding"}},{"contentType":"text","value":{"formats":{},"data":", catapulting it to the famed startup unicorn club. The round, led by"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" Insight Partners, B Capital Group and Dragoneer Investment Group, "}},{"contentType":"text","value":{"formats":{},"data":"valued the company at"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" $1.3 billion post-money"}},{"contentType":"text","value":{"formats":{},"data":", a 3X jump from its $410-million valuation in September 2021.\n\nIncorporated in 2021 by "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Gaurav Kumar and Vineet Sukumar"}},{"contentType":"text","value":{"formats":{},"data":" as a subsidiary of financial services marketplace "}},{"contentType":"companyWidget","value":{"id":"d3c50f90-6a70-11ea-832d-bbe8669a4505","name":"Vivriti Capital","slug":"vivriti-capital","logo":{"height":300,"width":300,"imageKey":"cs/images/companies/vv-1593440181268.jpg","url":"https://images.yourstory.com/cs/images/companies/vv-1593440181268.jpg"},"subtitle":"Vivriti Capital is a Chennai based company that is India’s first tech enabled marketplace that brings together capital markets investors with institutions, small enterprises and individuals","foundingDate":"2017-06-01","companyURL":"https://yourstory.com/companies/vivriti-capital","companyCoreTeam":[{"name":"Irfan Mohammed"},{"name":"Aniket Deshpande"},{"name":"Soumendra Ghosh"},{"name":"Vineet Sukumar"}],"sectors":[{"name":"Financial Services","slug":"financial-services"},{"name":"Insurance","slug":"insurance"},{"name":"Marketplace","slug":"marketplace"}]}},{"contentType":"text","value":{"formats":{},"data":", CredAvenue will nearly "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"double the pool of capital for Employee Stock Ownership Plan (ESOP) to Rs 500 crore across two separate programmes"}},{"contentType":"text","value":{"formats":{},"data":", Co-founder and CEO of CredAvenue, Gaurav Kumar told "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"YourStory"}},{"contentType":"text","value":{"formats":{},"data":". \n\nThe startup claims to work with over "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"2,300 corporates and connects them to over 750 lenders. It has a loan book of over Rs 90,000 crore."}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"alsoRead","value":{"title":"[Funding alert] Fintech startup Perfios turns unicorn; raises $68M from Bessemer Venture Partners, Warburg Pincus","thumbnail":"https://images.yourstory.com/cs/2/11718bd02d6d11e9aa979329348d4c3e/funding-1645511711142.jpg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/03/bengaluru-fintech-startup-funding-perfios-bessemer-warburg-pincus-acquires-karza-technologies"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Perfios\n"}},{"contentType":"text","value":{"formats":{},"data":"Bengaluru-headquartered "}},{"contentType":"companyWidget","value":{"id":"b644d2b0-b099-11ea-aeac-c9cb75e20ffe","name":"Perfios","slug":"perfios","logo":{"height":300,"width":300,"imageKey":"cs/images/companies/Perfios-FULL-Logo300x300-1592399672563.jpg","url":"https://images.yourstory.com/cs/images/companies/Perfios-FULL-Logo300x300-1592399672563.jpg"},"subtitle":"Perfios is a product technology company in the FinTech space enabling Financial Institutions in realtime decisioning, analysis and credit underwriting. ","foundingDate":"2007-11-07","companyURL":"https://yourstory.com/companies/perfios","companyCoreTeam":[{"name":"Debasish Chakraborty"},{"name":"V.R. Govindarajan"},{"name":"Kunnath Santosh"}],"sectors":[{"name":"Financial Services","slug":"financial-services"},{"name":"FinTech","slug":"fintech"}]}},{"contentType":"text","value":{"formats":{},"data":" Software Solutions raised around "}},{"contentType":"text","value":{"formats":{"bold":true,"link":"https://yourstory.com/2022/03/bengaluru-fintech-startup-funding-perfios-bessemer-warburg-pincus-acquires-karza-technologies/amp"},"data":"$68 million"}},{"contentType":"text","value":{"formats":{},"data":" (Rs 525 crore according to current exchange rates) from returning investors "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Bessemer Venture Partners "}},{"contentType":"text","value":{"formats":{},"data":"and "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Warburg Pincus"}},{"contentType":"text","value":{"formats":{},"data":" as part of its ongoing Series C round, according to documents filed with the Registrar of Companies (RoC). \n\nAccording to VCCircle, Perfios is at a valuation of nearly $4.05 billion after this round, catapulting it to the coveted unicorn club.\n\nThe documents also showed the startup is in the process of acquiring a software-as-a-service (SaaS) platform for financial institutions, Karza Technologies, for nearly $78 million (Rs 597 crore).\n"}},{"contentType":"alsoRead","value":{"title":"[Funding alert] SaaS startup Amagi turns unicorn, raises $95M from Accel, Norwest, Avataar","thumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/Amagi2-1647433429303.jpeg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/03/funding-alert-amagi-unicorn-saas-media-cloud-startup-norwest"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Amagi\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/Amagi2-1647433429303.jpeg"}},{"contentType":"text","value":{"formats":{},"data":"Cloud-based SaaS technology company "}},{"contentType":"companyWidget","value":{"id":"87d0f010-e93f-11ea-ada3-99d32a34b289","name":"Amagi","slug":"amagi","logo":{"height":320,"width":320,"imageKey":"cs/images/companies/5451759720407193959634002339805398682304512n-1598626999524.jpg","url":"https://images.yourstory.com/cs/images/companies/5451759720407193959634002339805398682304512n-1598626999524.jpg"},"subtitle":"Amagi is a global leader in SaaS technology providing end-to-end cloud managed live and on-demand video infrastructure for TV and OTT.","foundingDate":"2008-01-01","companyURL":"https://yourstory.com/companies/amagi","companyCoreTeam":[{"name":"Baskar Subramanian"},{"name":"Srividhya Srinivasan"},{"name":"Srinivasan KA"}],"sectors":[{"name":"Media","slug":"media"},{"name":"Software","slug":"software"}]}},{"contentType":"text","value":{"formats":{},"data":" raised "}},{"contentType":"text","value":{"formats":{"bold":true,"link":"https://yourstory.com/2022/03/funding-alert-amagi-unicorn-saas-media-cloud-startup-norwest/amp"},"data":"$95 million in a funding round"}},{"contentType":"text","value":{"formats":{},"data":" led by "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Accel"}},{"contentType":"text","value":{"formats":{},"data":" with participation from existing investors "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Norwest Venture Partners"}},{"contentType":"text","value":{"formats":{},"data":" and "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Avataar Ventures"}},{"contentType":"text","value":{"formats":{},"data":". \n\nThis latest investment brings Amagi’s valuation to more than "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"$1 billion"}},{"contentType":"text","value":{"formats":{},"data":", making it a unicorn and one of the highest-valued media-tech companies worldwide.\n\nThe startup has also announced a 108 percent annual growth in revenue.\n\nThis funding will enable the company to "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"accelerate business expansion"}},{"contentType":"text","value":{"formats":{},"data":", both in terms of Amagi's international footprint and its product portfolio in the current media and entertainment (M&E) market.\n\nThe unicorn also aims to increase sales and marketing five-fold across the globe. Amagi will also explore allied and adjunct opportunities in the cloud and video market to deliver greater impact across the value chain, evaluating the "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"mergers and acquisitions (M&A) opportunities"}},{"contentType":"text","value":{"formats":{},"data":" that can contribute to revenue growth or add technology capabilities to product lines.\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/ba9e8080834311ec9e7e95cb06cf6856/WhatsAppImage2022-03-23at9-1648009623673.jpeg"}},{"contentType":"alsoRead","value":{"title":"[Funding alert] OfBusiness lending unit Oxyzo turns unicorn with record $200M Series A from Tiger Global, Alpha Wave","thumbnail":"https://images.yourstory.com/cs/2/ba9e8080834311ec9e7e95cb06cf6856/WhatsAppImage2022-03-23at9-1648009623673.jpeg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/03/fintech-startup-oxyzo-raises-seris-a-alpha-wave-tiger-global"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Oxyzo\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Gurugram"}},{"contentType":"text","value":{"formats":{},"data":"-based "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Oxyzo Financial Services"}},{"contentType":"text","value":{"formats":{},"data":", a tech-enabled smart financing solution provider, announced its "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"$200 million Series A"}},{"contentType":"text","value":{"formats":{},"data":" fundraise led by "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Alpha Wave"}},{"contentType":"text","value":{"formats":{},"data":" and "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"co-led"}},{"contentType":"text","value":{"formats":{},"data":" by "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Tiger Global, Norwest Venture Partners,"}},{"contentType":"text","value":{"formats":{},"data":" "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Matrix Partners,"}},{"contentType":"text","value":{"formats":{},"data":" and "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Creation Investments."}},{"contentType":"text","value":{"formats":{},"data":" The round values the company at "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"$1 billion."}},{"contentType":"text","value":{"formats":{},"data":"\n\nThe startup will use the funds to expand Oxyzo’s broader digital financial services play organically and inorganically across a strong own balance sheet play, scaling the supply chain marketplace, launching innovative fixed income products for the SME space, and scaling other fee incomes business lines, including debt capital markets and securities.\n\nFounded in "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"2016 "}},{"contentType":"text","value":{"formats":{},"data":"by "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Asish Mohapatra"}},{"contentType":"text","value":{"formats":{},"data":" and "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Ruchi Kalra"}},{"contentType":"text","value":{"formats":{},"data":", Oxyzo started as a financing platform of "}},{"contentType":"companyWidget","value":{"id":"9fba0ba0-912c-11ea-b90b-ebb2ffdfb6cc","name":"Ofbusiness","slug":"ofbusiness","logo":{"height":1667,"width":1667,"imageKey":"cs/images/companies/OfToBusiness-1589536209857.png","url":"https://images.yourstory.com/cs/images/companies/OfToBusiness-1589536209857.png"},"subtitle":"The Gurugram based company Ofbusiness is a fin-tech startup offering smart financing options to SMEs.","foundingDate":"2015-08-01","companyURL":"https://yourstory.com/companies/ofbusiness","companyCoreTeam":[{"name":"Bhuvan Gupta"},{"name":"Vasant Sridhar"},{"name":"Ruchi Kalra"},{"name":"Nitin Jain"},{"name":"Asish Mohapatra"}],"sectors":[{"name":"Financial Services","slug":"financial-services"},{"name":"FinTech","slug":"fintech"}]}},{"contentType":"text","value":{"formats":{},"data":"— "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2021/07/b2b-startup-ofbusiness-enters-unicorn-club-india/amp"},"data":"a unicorn since July 2021"}},{"contentType":"text","value":{"formats":{},"data":" — to provide cash flow matched working capital financing for buying raw materials for SMEs in the traditional sectors of the economy such as manufacturing and subcontracting. \n"}},{"contentType":"alsoRead","value":{"title":"[Funding alert] Games24x7 raises $75M led by Malabar Investment at $2.5B valuation, becomes unicorn","thumbnail":"https://images.yourstory.com/cs/2/803961002d6d11e9aa979329348d4c3e/VCfunding-1605087354569.jpg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/03/funding-games24x7-startup-malabar-investment-tiger-global-gaming"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Games 24x7\n"}},{"contentType":"text","value":{"formats":{},"data":"Multi-game platform "}},{"contentType":"companyWidget","value":{"id":"6582ea50-b3f5-11eb-9a51-395094f55276","name":"Games 24x7","slug":"games-24x7","logo":{"height":400,"width":400,"imageKey":"cs/images/companies/DbHEsvlI400x400-1620915211530.jpg","url":"https://images.yourstory.com/cs/images/companies/DbHEsvlI400x400-1620915211530.jpg"},"subtitle":"Games24x7 is an online gaming startup with a portfolio that spans skill games.","foundingDate":"2006-01-01","companyURL":"https://yourstory.com/companies/games-24x7","companyCoreTeam":[{"name":"Bhavin Pandya"},{"name":"Trivikraman Thampy"}],"sectors":[{"name":"Gaming","slug":"gaming"},{"name":"Analytics & BI","slug":"analytics-bi"}]}},{"contentType":"text","value":{"formats":{},"data":" "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/03/funding-games24x7-startup-malabar-investment-tiger-global-gaming/amp"},"data":"raised $75 million"}},{"contentType":"text","value":{"formats":{},"data":" in a recent funding round led by "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Malabar Investment"}},{"contentType":"text","value":{"formats":{},"data":". The round also saw participation from existing investors — Tiger Global and Raine Group.\n\nThe startup says the latest investment round makes it India’s most valuable multi-game platform, at a "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"valuation of $2.5 billion"}},{"contentType":"text","value":{"formats":{},"data":", marking its entry into the unicorn club. It offers RummyCircle (India’s largest online rummy game), My11Circle (India’s second-largest fantasy platform), and U Games (a portfolio of casual games).\n\nFounded in 2006 by "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Trivikraman Thampy"}},{"contentType":"text","value":{"formats":{},"data":", an engineering alumnus of IIT Bombay and PhD in Economics from New York University, and "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Bhavin Pandya"}},{"contentType":"text","value":{"formats":{},"data":", an engineering alumnus of Purdue University and MPhil in Economics from New York University, Games24x7 is headquartered in Mumbai with offices in Bengaluru, Delhi, Miami, and Philadelphia.\n\n"}},{"contentType":"divider","value":{}},{"contentType":"text","value":{"formats":{"italic":true},"data":"(Written by Trisha Medhi, with inputs from Sindhu Kashyap, Aparajita Saxena, Payal Ganguly, Malvika Maloo, Rishabh Mansur, Ayshwaria Lakshmi, and Minakshi Sangwan.)"}},{"contentType":"text","value":{"formats":{},"data":"\n"}}],"timeLapsed":"1st Apr 2022","publishedDate":"April 01, 2022","editorsPickTitle":"Unicorns of 2022: Games 24x7 becomes 15th entrant to billion-dollar club","editorsPickSubtitle":"As we head into the fourth month of 2022, the Indian startup ecosystem has already seen 15 companies enter the coveted billion-dollar unicorn club.\n\n","editorsPickStartTime":"2022-04-01T06:30:00.000Z","editorsPickEndTime":"2022-04-01T09:30:00.000Z"},{"id":238445,"title":"Blood, sweat, and tears: what it takes to build a bootstrapped startup","slug":"what-it-takes-to-build-a-bootstrapped-startup-in-india","type":"RICH","subtitle":"Bootstrapping is not a new phenomenon in the startup ecosystem. In fact, unofficial reports say nearly 92 percent of Indian companies are bootstrapped or have not raised any equity/debt funding. We spoke to 15-odd entrepreneurs from across sectors to catch a glimpse into what it’s like to bootstrap.","publishedAt":"2022-03-29T00:45:00.000Z","updatedAt":"2022-03-31T13:07:09.811Z","brand":{"name":"YourStory","slug":"yourstory","locale":"en_GB","path":"/"},"metadata":{"authors":[{"name":"Aparajita Saxena","username":"aparajita","order":0,"path":"/author/aparajita"}],"category":{"id":464,"name":"In Depth","slug":"ys-in-depth","path":"/category/ys-in-depth"},"excerpt":"Bootstrapping is not a new phenomenon in the startup ecosystem. In fact, unofficial reports say nearly 92 percent of Indian companies are bootstrapped or have not raised any equity/debt funding. We spoke to 15-odd entrepreneurs from across sectors to catch a glimpse into what it’s like to bootstrap.","media":"https://images.yourstory.com/cs/2/f49f80307d7911eaa66f3b309d9a28f5/Bootstrapped-02-1648370741651.png","thumbnail":"https://images.yourstory.com/cs/2/f49f80307d7911eaa66f3b309d9a28f5/Bootstrapped-02-1648370741651.png","defaultThumbnail":"https://images.yourstory.com/cs/2/f49f80307d7911eaa66f3b309d9a28f5/Bootstrapped-02-1648370741651.png","brandSpotlight":null,"removeAds":null,"curatedCategories":[],"sponsoredStory":null,"isRegistrationRequired":false,"timeToRead":12,"articleTopics":[],"richArticleTopics":[{"id":"991ecc30-663e-11eb-b571-b76e0f3e580d","slug":"ecosystem-insights","name":"Ecosystem Insights","type":"RICH-ARTICLE-TOPIC","order":0}],"tags":[{"name":"Bootstrapping","slug":"bootstrapping","order":0,"path":"/tag/bootstrapping"},{"name":"bootstrapped","slug":"bootstrapped","order":1,"path":"/tag/bootstrapped"},{"name":"bootstrapped business","slug":"bootstrapped-business","order":2,"path":"/tag/bootstrapped-business"},{"name":"Inspiration","slug":"inspiration","order":3,"path":"/tag/inspiration"},{"name":"starting up in India","slug":"starting-up-in-india","order":4,"path":"/tag/starting-up-in-india"},{"name":"startup challenges","slug":"startup-challenges","order":5,"path":"/tag/startup-challenges"},{"name":"VC funding","slug":"vc-funding","order":6,"path":"/tag/vc-funding"},{"name":"Venture Capitalist","slug":"venture-capitalist","order":7,"path":"/tag/venture-capitalist"},{"name":"inspiration motivation","slug":"inspiration-motivation","order":8,"path":"/tag/inspiration-motivation"},{"name":"Just In","slug":"news","order":9,"path":"/tag/news"}]},"snippets":null,"trailers":null,"path":"/2022/03/what-it-takes-to-build-a-bootstrapped-startup-in-india","featured":true,"mobilePostJson":[{"contentType":"text","value":{"formats":{},"data":"“"}},{"contentType":"text","value":{"formats":{"italic":true},"data":"I walk a lonely road, the only one that I have ever known..don’t know where it goes, but it’s home to me and I walk alone”"}},{"contentType":"text","value":{"formats":{"header":3},"data":".\n"}},{"contentType":"text","value":{"formats":{},"data":"The widely accepted perception of these lines from Green Day’s "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"Boulevard of Broken Dreams "}},{"contentType":"text","value":{"formats":{},"data":"is that it is about going through life’s upheavals alone, lost loves, and looking to the future. But after speaking to 15+ startup founders on their "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"bootstrapping"}},{"contentType":"text","value":{"formats":{},"data":" "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"journeys"}},{"contentType":"text","value":{"formats":{},"data":", it feels like the song was written for them.\n\nWhen I relayed this idea to Arati, a startup founder who bootstrapped for 10-plus years, she vehemently agrees.\n\n\"It’s rewarding to bootstrap and all that, but the "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"payoff comes much later,\""}},{"contentType":"text","value":{"data":" she says, asking not to be named or attributed in any way other than her first name because she says she’s a little concerned about coming across as “weak” to potential investors she might one day need to raise funds from.\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"\"We’re supposed to behave like starting up is easy, that we have the mental resilience to go through crap over and over again like it’s nothing..I’ve had friends who’ve \u003cb>lost out\u003c/b> on VCs because they deigned to be honest about their struggles,\" laments Arati."}},{"contentType":"text","value":{"formats":{},"data":"But that’s a story for another time.\n\nBack to the topic of bootstrapping startups and what it takes to build one, Arati says, it takes "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"enormous patience "}},{"contentType":"text","value":{"formats":{},"data":"to build a business without external money.\n\n\"You have to keep building and hoping that whatever you’re doing pays off in the longer run. Also, you have to stick around long enough..,\" she says.\n\nStick around long enough to build the company to "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"profitability"}},{"contentType":"text","value":{"formats":{},"data":"?\n\n\"For everything…the profit, customers, scaling. I’ve wanted to give up the business at least every other year since we began in 2008. It’s incredibly hard, and you have to give a lot of yourself to it, but if you manage to, I promise you it’s worth it.\"\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/f49f80307d7911eaa66f3b309d9a28f5/BootstrappedQuotationcardsEditable1-1648373138310.png"}},{"contentType":"alsoRead","value":{"title":"4 bootstrapped businesses by women entrepreneurs that clock revenue in crores \r\n","thumbnail":"https://images.yourstory.com/cs/4/211ccaf00e6d11e997fe8f165dce9bb1/Designcopy20-1647953803752.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/herstory/2022/03/4-bootstrapped-businesses-women-entrepreneurs-urban-space-rnr-donne-biryani"}},{"contentType":"text","value":{"formats":{},"data":"From all the discussions I’ve had with startup founders who’ve not raised any external funding till now, the common consensus seems to be that "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"bootstrapping is definitely, certifiably harder, and a much lonelier journey"}},{"contentType":"text","value":{"formats":{},"data":" for founders, compared to those who’ve raised funding — and not just because "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"capital concerns"}},{"contentType":"text","value":{"formats":{},"data":" are somewhat allayed when one has the coin at their disposal.\n\n\"I think the availability of significant external funding gives you the cushion to not only experiment with new ideas, but also gives you enough liquidity to hire the best talent and punch above your weight in the quantum of work you can take on,\" says "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Dr Chinmaya P Chigateri, Co-founder of Healthminds Consulting,"}},{"contentType":"text","value":{"data":" a Singapore-based startup that provides healthcare enterprise and academia high-end data analytics and healthcare content.\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“I always wish I had access to funding every time I had to pass on hiring a great candidate, driven only by the reason that we could not afford to pay his or her expected remuneration. I believe that people define an organisation, and I wished I had raised capital during such scenarios,” he adds."}},{"contentType":"text","value":{"formats":{},"data":"Dr Chinmaya and his co-founder "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Shubhangini Chigateri "}},{"contentType":"text","value":{"formats":{},"data":"have bootstrapped "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Healthminds"}},{"contentType":"text","value":{"formats":{},"data":" for eight years, and are expecting to end the current financial year profitably. They’re also now looking to raise a Series A that they believe will help them scale and steer their business better.\n\nVenture capitalists today are the cheerleaders of the startup ecosystem — a stark contrast, some say, to the crop that came before them that viewed young companies and entrepreneurs as mere dollar multipliers — and missing out on their expertise and decades of industry experience is yet another vexation in the life of a bootstrapped entrepreneur.\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/f49f80307d7911eaa66f3b309d9a28f5/Bootstrapped-03-1648373050563.png","caption":"\u003cp>(Image credit: Daisy Mahadevan, Team YourStory Design)\u003c/p>"}},{"contentType":"alsoRead","value":{"title":"[App Friday] MindPeers focuses on mental health with free resources, but is a work in progress","thumbnail":"https://images.yourstory.com/cs/2/f49f80307d7911eaa66f3b309d9a28f5/Mindpeers-01-1647524452002.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/03/app-friday-mindpeers-review-mental-health-awareness-therapy"}},{"contentType":"text","value":{"formats":{},"data":"\"It was difficult to make the connections that are necessary to construct a brand, prototypes, and more, without the support of known investors. We had to develop our consumer base and discover collaborators on our own without any introductions, guidance, and funding from others,\" says Alok K Singh, Founder of "}},{"contentType":"text","value":{"id":"47431980-9fcb-11ec-b05a-6d5b4849d941","data":"Travomint","format":{}}},{"contentType":"text","value":{}},{"contentType":"blockquote","value":{"formats":{},"data":", a travel booking startup."}},{"contentType":"text","value":{"formats":{},"data":"There's an entire network of incubators, accelerators, mentorship programmes, and sandboxes that exist today to handhold startup founders when they’re still just ideating. Schools and colleges have startup germination programmes and clubs that aim to identify and support promising entrepreneurs, and then there are huge private equity players that look to get in on the action in Series F and Series G rounds.\n\nAnd while some admit their lives would’ve been easier had they just done a VC round and had doors opened for them, others disagree and say they prefer having a free hand to experiment, fail, and learn from their mistakes than have someone else telling them what to do.\n\n\"I don’t like too much interference while I am handling my business. I have a clear perspective when it comes to my business. Raising funding and having more people on board will eventually hinder the business focus..it also creates room for conflicts and, eventually, delayed decision making. I am a fast decision-maker,\" says "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Palash Agrawal,"}},{"contentType":"text","value":{"formats":{},"data":" Founder and director of Vedas Exports, a home decor and accessories company that exports the works of Indian craftsmen to foreign countries.\n\nPalash founded the company in 2014, and says he hit profitability a long time ago.\n\n\"No regrets at all,\" he quips when asked whether he regrets not raising external funding and making the decision to bootstrap.\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/f49f80307d7911eaa66f3b309d9a28f5/BootstrappedQuotationcardsEditable2-1648373310970.png"}},{"contentType":"alsoRead","value":{"title":"Is moving to Bangalore the new cool?","thumbnail":"https://images.yourstory.com/cs/2/f49f80307d7911eaa66f3b309d9a28f5/Featureimages-newdeck6-1646996155206.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/03/moving-to-bangalore-twitter-trend-offices-reopening-social-media"}},{"contentType":"text","value":{"formats":{"header":2},"data":"The toll bootstrapping takes\n"}},{"contentType":"text","value":{"formats":{"header":3},"data":"My shadow's the only one that walks beside me; my shallow heart's the only thing that's beating; sometimes, I wish someone out there will find me; ‘til then, I walk alone.\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Existential loneliness"}},{"contentType":"text","value":{"formats":{},"data":" is a constant companion for a majority of startup founders — bootstrapped or not.\n\nIn a survey conducted by "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Christina Richardson,"}},{"contentType":"text","value":{"data":" a startup and entrepreneur coach, in 2019, she found that every single person used the word ‘lonely’ to describe their experience building their business.\n\nThere’s a tendency to \"yassify\" the toxic, 18-hour, no shower, no food, \"hustle\" culture when it comes to the startup ecosystem, and the expectation is that everyone, at every level of the company, will work themselves to the bone to build the business.\n\nUp until now, 15-minute pep talks, 45 minutes of meditation, \"mindfulness rooms\", Goa offsites, and office beer parties have been wielded as stopgaps to the fast-declining mental health of founders.\n\nBut some have sought solace in bootstrapping.\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“I think I am happy I didn’t raise funds because it comes with huge responsibilities like quickly expanding to churn out more, and running behind numbers,” says Geetanjali Gondhale, Chief Designer, Founder, and CEO of Moha, a designer silver jewellery venture founded in 2014."}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Vikas Singhania, Co-founder of TradeSmart Online,"}},{"contentType":"text","value":{"formats":{},"data":" an online discount broking platform founded in 2013, seconds that.\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/f49f80307d7911eaa66f3b309d9a28f5/Bootstrapped-04-1648373265110.png","caption":"\u003cp>(Image credit: Daisy Mahadevan, Team YourStory Design)\u003c/p>"}},{"contentType":"alsoRead","value":{"title":"Why CXOs of Portea, Innov8, Lenskart, and others are flocking to online networking platform Blue Circle","thumbnail":"https://images.yourstory.com/cs/2/f49f80307d7911eaa66f3b309d9a28f5/Featureimages-newdeck9-1647956503818.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/03/social-media-networking-startup-blue-circle-enables-cxos-connections"}},{"contentType":"text","value":{"formats":{},"data":"\"Many VCs did show interest in our company on multiple occasions. However, we did not raise VC funding to avoid the pressure and other related factors that are associated with the performance when external parties are invested in the business,\" he says.\n\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Navin Rao,"}},{"contentType":"text","value":{"formats":{},"data":" Co-founder of The Kaftan Company, a sustainable loungewear and kaftan clothes venture, says, "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"work-life balance was important for him"}},{"contentType":"text","value":{"formats":{},"data":" even as he was building the company, which was founded in 2011.\n\n“We are happy we did not raise VC funding. Keeping in mind a work-life balance while managing the expected rate of growth has proven to be positive,” he quips.\n\nBut there’s a lacerating duality to that too.\n\nSetting your own, manageable goals that gives one enough time to play after work, and not having to chase profitability in the multiples does take the pressure off.\n\nHowever, there’s then the immensity of "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"internal pressure"}},{"contentType":"text","value":{"data":" — of having to pay off the many people that make the business possible, family and friends who've invested in the company, of not failing, etc.\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"\"Belonging to a middle-class family and setting up a business was not an easy task. I did not have any financiers — all I had was my parents’ blessings and savings along with my brother’s back,\" recalls Travomint’s Alok."}},{"contentType":"text","value":{"formats":{},"data":"“There was a trepidation inside me as I was planning to sink my parent’s hard-earned money into my startup,” he adds.\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/f49f80307d7911eaa66f3b309d9a28f5/BootstrappedQuotationcardsEditable-1648373393973.png"}},{"contentType":"alsoRead","value":{"title":"Elon Musk giving 'serious thought' to a new social media platform","thumbnail":"https://images.yourstory.com/cs/1/d3ee5ad06e9411ea9555f328f32a24be/Imagew3at-1585140933539.jpg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/03/elon-musk-open-source-algorithm-social-media-network"}},{"contentType":"text","value":{"formats":{},"data":"The burden of not running your family into cataclysmic financial depravity is a huge one to shoulder, and the internet is rife with stories of failed startups.\n\n\"It has certainly not been easy – not only on me, but also my family – in this journey. It does impact your mental status, which is a result of the unpredictability in the future that lurks in your mind constantly,\" quips Healthminds’ Dr Chinmaya.\n\nPutting your own neck — and money — on the line also means having to "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"single-handedly figure the way out of any mess"}},{"contentType":"text","value":{"formats":{},"data":" you may land yourself in. And to do that without any \"business experts\" who would’ve had an answer ready to fire can be hard.\n\n\"It definitely looks rosy on the outside now, but it has taken quite a toll on my mental health, especially during the pandemic. A lot of businesses struggled through Covid-19. As for me, it was having such negative and weak thoughts and trying to figure out how to pull myself together,” says "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Ritu Oberoi,"}},{"contentType":"text","value":{"formats":{},"data":" Founder of ForSarees, a crafted and handwoven saree startup based out of Mumbai.\n\n\"The second and partly the third wave hit us the most. It was no longer about the finances, but about taking care of our mental health.\"\n\nRitu founded ForSarees in 2018, and turned profitable soon after she set up the venture. COVID-19, however, severely impacted not only the startup, but also the weaver community Ritu had been working with, which added to the duress the company was already under.\n\n“After the first lockdown, we realised that if we had raised funds, we would’ve been held accountable, but simultaneously when our capital was over and it came to paying off our marketing team, artisans, and others, I wished we had some investors to back us up. It felt like we hit rock bottom and had to start all over again when the market opened a bit,” she recalls.\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/f49f80307d7911eaa66f3b309d9a28f5/Bootstrapped-01-1648373474209.png","caption":"\u003cp>(Image credit: Daisy Mahadevan, Team YourStory Design)\u003c/p>"}},{"contentType":"alsoRead","value":{"title":"Early morning bus rides to college taught this CA an important lesson about rural India. Here’s how he’s using it to rejuvenate rural commerce","thumbnail":"https://images.yourstory.com/cs/2/f49f80307d7911eaa66f3b309d9a28f5/Featureimages-newdeck4-1646903388120.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/03/rural-commerce-startup-vilcart-modernising-rural-kirana-stores"}},{"contentType":"text","value":{"formats":{},"data":"Arati relays her own experience of building her Gurugram-based startup using family funds.\n\nShe says there was a time when her mother needed to undergo "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"eye surgery "}},{"contentType":"text","value":{"formats":{},"data":"because her cataract was progressing quickly. But because the family had put in every little bit they had into her business, there was nothing left to spare.\n\nStill, instead of talking about how she couldn’t see anything properly, Arati says her mother would keep asking her questions about her day at work, discussing business matters with her and advising her.\n\n“It was like her eye surgery was not even on top of her priority list..she was more concerned if "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"Hyderabad ke supplier ne Baroda ke manufacturer ko raw material dispatch kiya ki nahi."}},{"contentType":"text","value":{"formats":{},"data":" And all this while, I’m standing in the middle of the room, crying, and apologising to her for landing us in this soup,\" she says, breaking into peals of laughter at the absurdity of the situation.\n\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Shivam Bajaj,"}},{"contentType":"text","value":{"formats":{},"data":" Founder of Avener Capital, an investment banking startup, had a similar "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"bon mot"}},{"contentType":"text","value":{"formats":{},"data":"-studded experience to share.\n\n\"Avener Capital was set up with family funds. Ironically, my first and the most difficult deal was raising capital from my own family where I had to pitch the business idea to my family with all my conviction backed by strong data points to build a team.\"\n\n\"At times, when I look back, it probably could’ve been easier to raise capital from a VC.\"\n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Happy ending? No, but close\n"}},{"contentType":"text","value":{"formats":{},"data":"\"The payoff is worth it..all your blood, sweat, and tears..if you stick it out, it’s worth it,\" says Arati, for the fourth time during our conversation.\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/f49f80307d7911eaa66f3b309d9a28f5/BootstrappedQuotationcardsEditable3-1648373694314.png"}},{"contentType":"alsoRead","value":{"title":"South Delhi's Ayaan is not the only one who wants an iPad; Sheikh, who lives in a Karnataka village, wants one too","thumbnail":"https://images.yourstory.com/cs/2/f49f80307d7911eaa66f3b309d9a28f5/Image7xab-1646903098673.jpg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/03/rural-india-commerce-startup-vilcart-growing-aspirations-villagers-bharat"}},{"contentType":"text","value":{}},{"contentType":"blockquote","value":{"formats":{},"data":"And it’s true. Of all the 15-odd people I spoke to piece this story together, \u003cb>not one said they’d do it any other way.\u003c/b>"}},{"contentType":"text","value":{"formats":{},"data":"\"Bootstrapping a business is like taking care of your own child and nurturing them until they are old enough to go out in the world,\" says "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Priyanka Save"}},{"contentType":"text","value":{"formats":{},"data":", founder of Hill Zill Wines ("}},{"contentType":"companyWidget","value":{"id":"70cbdd60-114f-11ec-95a0-b5578d50ea13","name":"Fruzzante","slug":"fruzzante","logo":{"height":1440,"width":1440,"imageKey":"cs/images/companies/Fruzzante-1631179414857.jpg","url":"https://images.yourstory.com/cs/images/companies/Fruzzante-1631179414857.jpg"},"subtitle":"Fruzzante is the world’s first and only producer of cider-style alco-beverage made from Chikoo extracts","foundingDate":"2012-06-01","companyURL":"https://yourstory.com/companies/fruzzante","companyCoreTeam":[{"name":"Priyanka Save"},{"name":"Nagesh Pai"}],"sectors":[{"name":"Direct-To-Consumer Brands","slug":"direct-to-consumer-brands"}]}},{"contentType":"text","value":{"formats":{},"data":"), an alcoholic beverage company that makes fruit-based wines.\n\nThere’s a lot one learns when facing an existential crisis, and, at the cost of “yassifying” the struggle, you could even venture as far as to say that "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"adversity builds character"}},{"contentType":"text","value":{"formats":{},"data":" and teaches one things they wouldn’t have been able to digest had it just been handed to them on a platter.\n\n\"It has been a difficult ride so far, we have seen multiple ups and downs, but it has taught us a lot too, like finding out solutions for a variety of problems, learning how to build things on a budget, keeping a leaner team, wearing multiple hats, and thinking from multiple perspectives,\" says "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Tejas Rathod"}},{"contentType":"text","value":{"formats":{},"data":", Co-founder of "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Mobavenue Media"}},{"contentType":"text","value":{"formats":{},"data":", a media buying startup based out of Mumbai.\n\nMental resilience and character building are obviously lateral advantages of bootstrapping, but "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Rohit Warrier, "}},{"contentType":"text","value":{"formats":{},"data":"Founder of "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"WEFIRE"}},{"contentType":"text","value":{"formats":{},"data":", a fire protection equipment supplier, argues it also teaches people to "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"take better decisions and believe in themselves."}},{"contentType":"text","value":{"data":"\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"\"Keeping yourself motivated, persevering through those times is indeed a mind game. The only thing that kept me motivated was believing in myself and that there is light at the end of the tunnel. If you keep trying without giving up, you will ultimately be able to cross the line..so the simple \u003cem>funda\u003c/em> is to make a decision and never look back, no matter how bad the situation is.\""}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/f49f80307d7911eaa66f3b309d9a28f5/Featureimages-newdeck10-1648374069591.png"}},{"contentType":"alsoRead","value":{"title":"How Amazon-backed investment startup smallcase grew its userbase 7X in 3 years","thumbnail":"https://images.yourstory.com/cs/2/f49f80307d7911eaa66f3b309d9a28f5/Smallcase2-13-1646313608414.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/03/amazon-backed-investment-platform-smallcase-grows-7x-user-base"}},{"contentType":"text","value":{"formats":{},"data":"He also remarks that the objective of building and bootstrapping is to challenge yourself and find the joy in things.\n\n\"If I can do it without diluting my equity, I think I am smarter than my peers who have raised funds and are now not just answerable, but may be under more stress to make the funding work.\"\n\nUltimately, my takeaway has been that bootstrapping is one journey you cannot truly understand until you go through it, yourself. And, so far, only those brave enough to weather the storm have managed to fare.\n"}}],"timeLapsed":"29th Mar 2022","publishedDate":"March 29, 2022","editorsPickTitle":"What it takes to build a bootstrapped startup in India","editorsPickSubtitle":"We spoke to 15-odd entrepreneurs from across sectors to catch a glimpse into what it’s like to bootstrap.","editorsPickStartTime":"2022-03-29T00:30:00.000Z","editorsPickEndTime":"2022-03-29T03:30:00.000Z"},{"id":237802,"title":"[Product Roadmap] Here’s how these healthtech startups have evolved their products since their inception ","slug":"product-roadmap-healthtech-startups-practo-niramai-mfine-first-principles","type":"RICH","subtitle":"In this week’s Product Roadmap, we feature three healthtech startups — Practo, Niramai, and MFine — and how they have evolved their products over the years. \r\n","publishedAt":"2022-03-23T01:30:00.000Z","updatedAt":"2022-03-23T04:27:01.696Z","brand":{"name":"YourStory","slug":"yourstory","locale":"en_GB","path":"/"},"metadata":{"authors":[{"name":"Sindhu Kashyaap","username":"sindhu-kashyap","order":0,"path":"/author/sindhu-kashyap"}],"category":{"id":464,"name":"In Depth","slug":"ys-in-depth","path":"/category/ys-in-depth"},"excerpt":"In this week’s Product Roadmap, we feature three healthtech startups — Practo, Niramai, and MFine — and how they have evolved their products over the years. \n","media":"https://images.yourstory.com/cs/2/50c12d609a1911ec9fa62186d8a1a3b1/Imagexbf1-1646898536224.jpg","thumbnail":"https://images.yourstory.com/cs/2/50c12d609a1911ec9fa62186d8a1a3b1/Imagexbf1-1646898536224.jpg","defaultThumbnail":"https://images.yourstory.com/cs/2/50c12d609a1911ec9fa62186d8a1a3b1/Imagexbf1-1646898536224.jpg","brandSpotlight":null,"removeAds":null,"curatedCategories":[],"sponsoredStory":null,"isRegistrationRequired":false,"timeToRead":7,"articleTopics":[],"richArticleTopics":[{"id":"991ecc3e-663e-11eb-b571-b76e0f3e580d","slug":"startup-journeys---future-roadmaps","name":"Startup Journeys / Future Roadmaps","type":"RICH-ARTICLE-TOPIC","order":0}],"tags":[{"name":"Product Roadmap","slug":"product-roadmap","order":0,"path":"/tag/product-roadmap"},{"name":"mfine","slug":"mfine","order":1,"path":"/tag/mfine"},{"name":"Niramai","slug":"niramai","order":2,"path":"/tag/niramai"},{"name":"Practo","slug":"practo","order":3,"path":"/tag/practo"},{"name":"healthtech startups","slug":"healthtech-startups","order":4,"path":"/tag/healthtech-startups"}]},"snippets":null,"trailers":null,"path":"/2022/03/product-roadmap-healthtech-startups-practo-niramai-mfine-first-principles","featured":false,"mobilePostJson":[{"contentType":"text","value":{"formats":{"bold":true},"data":"The product roadmap clarifies the why, what, and how behind what a tech startup is building. This week, "}},{"contentType":"text","value":{"formats":{"bold":true,"italic":true},"data":"YourStory"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" shares the product journey of three healthtech startups — "}},{"contentType":"companyWidget","value":{"id":"d4efb0d0-8ac5-11ea-bfa2-7730cd9ba093","name":"Practo","slug":"practo","logo":{"height":1667,"width":1667,"imageKey":"cs/images/companies/practo-1588241220870.png","url":"https://images.yourstory.com/cs/images/companies/practo-1588241220870.png"},"subtitle":"Practo is a healthcare based mobile application founded by Abhinav Lal and Shashank ND in 2008.","foundingDate":"2008-05-01","companyURL":"https://yourstory.com/companies/practo","companyCoreTeam":[{"name":"Shashank ND"},{"name":"Abhinav Lal"}],"sectors":[{"name":"Consumer","slug":"consumer"},{"name":"HealthTech / MedTech / Healthcare","slug":"healthtech-medtech-healthcare"}]}},{"contentType":"text","value":{"formats":{"bold":true},"data":", "}},{"contentType":"companyWidget","value":{"id":"59d7a560-5244-11ea-8bed-c3058d61f888","name":"Niramai","slug":"niramai","logo":{"height":200,"width":200,"imageKey":"cs/images/companies/Niramai-1582027158800.png","url":"https://images.yourstory.com/cs/images/companies/Niramai-1582027158800.png"},"subtitle":"Bengaluru-based deep-tech startup Niramai Health Analytix is a pioneer in breast health screening.","foundingDate":"2016-01-01","companyURL":"https://yourstory.com/companies/niramai","companyCoreTeam":[{"name":"Geetha Manjunath"},{"name":"Nidhi Mathur"},{"name":"Surajit Mukherjee"}],"sectors":[{"name":"Technology","slug":"technology"},{"name":"DeepTech","slug":"deeptech"},{"name":"HealthTech / MedTech / Healthcare","slug":"healthtech-medtech-healthcare"}]}},{"contentType":"text","value":{"formats":{"bold":true},"data":", and "}},{"contentType":"companyWidget","value":{"id":"43415410-9036-11ea-9107-d3c719df995e","name":"mfine","slug":"mfine","logo":{"height":1667,"width":1667,"imageKey":"cs/images/companies/Mfine-1589445049544.png","url":"https://images.yourstory.com/cs/images/companies/Mfine-1589445049544.png"},"subtitle":"The Bengaluru based health-tech startup Mfine offers an artificial intelligence based online doctor consultation platform.","foundingDate":"2017-01-01","companyURL":"https://yourstory.com/companies/mfine","companyCoreTeam":[{"name":"Prasad Kompalli"},{"name":"Ashutosh Lawania"},{"name":"Ajit Narayanan"},{"name":"Arjun Choudhary"}],"sectors":[{"name":"HealthTech / MedTech / Healthcare","slug":"healthtech-medtech-healthcare"}]}},{"contentType":"text","value":{"formats":{"bold":true},"data":" — how these startups viewed their products from the first principles, and how they have evolved since. "}},{"contentType":"text","value":{"formats":{},"data":"\n\nFrom solving one problem to adding multiple elements to solve different healthcare issues, these startups have come a long way. Here’s a brief overview.\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/f02aced0d86311e98e0865c1f0fe59a2/telemedicine-1592470699940.png","caption":"\u003cp>\u003cem>Representational Image\u003c/em>\u003c/p>"}},{"contentType":"text","value":{"formats":{"header":2},"data":"From a SaaS platform for doctors to a full-stack healthcare ecosystem\n"}},{"contentType":"text","value":{"data":"When NIT Suratkal engineering students Shashank ND and Abhinav Lal started healthtech platform Practo in 2007, the duo had envisioned three core principles — access to quality care, better and improved care with affordability, and safety and privacy of all information and exchange.\n\n“These three core principles remain key to what we continue to do and build at Practo,” Abhinav says.  \n\nThe duo had decided to first start by making doctors and quality healthcare more accessible by making it easy for healthcare professionals and patients to connect. \n\nAfter 12 years of existence, by 2020, Practo had gained over 180 million users, five million patient stories, and enables 10 million hours of doctor consultation per month. The platform has over 76,000 clinics and hospital partners.\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“The first step thus was to work with the doctor community. We decided to remove the administrative work to help manage their practice so they could focus on their expertise. That was the first product — Practo Ray — released in 2008. It was a software code Shashank and I wrote. We had focused on smaller, single-doctor clinics and built the product with both the doctors and patients in mind,” explains Abhinav. "}},{"contentType":"text","value":{"formats":{},"data":"The idea was to use emerging technologies to revamp clinical functioning across India and enhance the patient experience by creating a software solution for doctors to efficiently manage their appointments and scheduling.\n\nShashank spent most of the days in clinics, interacting with doctors to understand the intricacies and challenges. It helped the team realise the needs of the doctors, and how the team could go about implementing them. \n\nSaaS platform "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Practo Ray "}},{"contentType":"text","value":{"data":"managed the affairs of small practices in terms of appointment scheduling, patient record maintenance, billing, accounting, and analytics — catering to the SME segment. It formed the basis of all future products for Practo.\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“We were selective in what we built, and this allowed us to build a product as per the customer needs. The next challenge was getting doctors to migrate as most had their systems on older technologies. We had built a lot of our initial tech on the web, where we would send reminders via SMSes to doctors and patients,” explains Abhinav. "}},{"contentType":"text","value":{"formats":{},"data":"Another challenge, Abhinav adds, was to make the product reliable and more responsive. “If Ray stopped working, the business for the doctors would also stop. So, we primarily focused on solving for any redundancies and challenges,” he adds. \n\nOnce the B2B product got the initial traction, the team focused on the consumer and began with the B2C platform — "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Practo Search "}},{"contentType":"text","value":{"formats":{},"data":"— a doctor discovery and appointment booking platform for consumers. \n\nAround 2012, the team moved ahead to ensure that patients had 24x7 access to healthcare, which led to the launch of the Practo App. \n\n“We worked closely with our partners to understand their needs, building solutions to solve their current and future needs. We’re now looking forward to more standards in health data exchange,” says Abhinav. \n"}},{"contentType":"alsoRead","value":{"title":"[Product Roadmap] How Practo evolved from being a SaaS platform for doctors to a full-fledged healthcare ecosystem","thumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/product-road-map-1598948141466.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2020/09/product-roadmap-practo-saas-platform-doctors-healthtech-b2c"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Simplifying breast cancer detection with Niramai \n"}},{"contentType":"text","value":{"formats":{},"data":"Geetha Manjunath was working in AI R&D for multinational companies Xerox when she got the news that her close cousin had breast cancer. A few months later, her husband’s cousin also received the same diagnosis. Both women were under 45 years of age, and this came as a shock to Geetha.\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"\u003cb>In 2016, she joined hands with Nidhi Mathur to launch healthtech startup Niramai, which uses AI to detect cancer in the early stages\u003c/b>. "}},{"contentType":"text","value":{"formats":{},"data":"The startup’s "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"patented product Thermalytix "}},{"contentType":"text","value":{"formats":{},"data":"is a portable, non-invasive, radiation-free, and non-contact solution for early-stage detection of breast cancer. It works by measuring the temperature of the chest region and generating a report. \n\nRecently, the deep-tech Bengaluru-based healthcare startup received "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"US FDA clearance for its first device, SMILE-100 System. "}},{"contentType":"text","value":{"data":"\n\nThe breast thermography device assists healthcare personnel to review, measuring and analysing thermally significant indications in the breast region. It can be used in the hospital, acute care settings, outpatient surgery, healthcare practitioner facilities, or an environment where patient care is provided by qualified healthcare personnel.\n\nA few researchers in the US had mentioned thermography, but the founders realised that healthcare institutions did not use thermography due to the prevailing accuracy issues. But they felt the accuracy problems could be easily tackled using AI.\n \nGeetha explains there are limited methods of detecting breast cancer. The most common is mammography, which tries to find malignant lumps in the breast using density differences. Geetha says it uses X-rays, and the lumps are seen as white. \n\nShe says one cannot go for mammography more than once every two years as it can cause radiation problems. Also, women under the age of 40 have denser breasts. This means the entire breast appears white in mammography for a woman under 40, eliminating over 50 percent of women from getting a regular breast cancer test. Also, mammography can be extremely painful and uncomfortable. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“Our technology works well on women of all age groups. We provide preventative breast health screening solutions in hospitals and diagnostic centres. Since our solution is portable, age-agnostic, and has zero radiation, we can also do the test outside hospital premises and help women in rural areas as well. These benefits effectively address the concerns and limitations for greater adoption of screening for women across all segments. Early detection saves lives,” Geetha says. "}},{"contentType":"text","value":{"formats":{},"data":"The solution automatically generates detailed quantitative reports with clinical parameters and estimates the likelihood of cancer, which helps doctors make quick and accurate decisions. \n"}},{"contentType":"alsoRead","value":{"title":"[Product Roadmap] From breast cancer to river blindness, Niramai is using tech to simplify detection ","thumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/800x400-1588662726076.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2020/05/product-roadmap-healthtech-startup-niramai-breast-cancer-river-blindness"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Leveraging AI to make virtual consults easier\n"}},{"contentType":"text","value":{"formats":{},"data":"When former Myntra co-founders "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Prasad Kompalli and Ashutosh Lawania "}},{"contentType":"text","value":{"data":"started online telemedicine startup MFine in February 2017, they weren’t the first in the space. But they had found a major market gap. \n\nMFine is an AI-driven on-demand healthcare service that provides users access to virtual consultations and connected care programmes from different hospitals across India. \n\nThe platform allows users to consult doctors from top healthcare institutions through video or chat. Unlike others in the space, MFine partners with leading hospitals rather than aggregating individual doctors on the platform. \n\nAccording to Crunchbase, MFine is one of the top 90 AI-based healthcare solutions across the world today. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"Ajit says, “We use mobile to make virtual care accessible to anybody who has a mobile and internet connection. But building something with deep medical interaction and traction value for a small mobile interface is complex. We needed to simplify it.”"}},{"contentType":"text","value":{"formats":{},"data":"He adds, “We realised if you manage to identify good doctors, you can mimic their capability in terms of treatment or evolve to looking at multiple doctors, seeing what works and replicating that.” \n\nMFine provides doctors with the best set of diagnoses, information, and treatment plans, based on the information the patient provides, who then choose the best course of action and treatment plan. All this is done with AI and machine learning. \n\nThe idea is simple — “learn from the best and replicate best practices infinitely using AI.” \n"}},{"contentType":"alsoRead","value":{"title":"[Product Roadmap] How healthtech startup mfine is using AI to make virtual consults easier ","thumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/800x400RM-1597748370276.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2020/08/product-roadmap-healthtech-startup-mfine-ai"}},{"contentType":"text","value":{"data":"He adds, if many people are looking at doctors through mobile, there will be little time. One may lose critical information if they are not attentive, and that is where AI helps.  \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“In any consultation, close to 85 percent of the time is spent on the investigation. Doctors are focused on finding out root causes by way of questioning. The last 15 percent is earmarked for a conclusion and treatment plan,” Ajit explains. "}},{"contentType":"text","value":{"formats":{},"data":"With MFine, the team wanted to find an automated way for that 85 percent time the doctor spends in collecting information from their patients. Every senior doctor has a virtual avatar in the system, which can talk to patients and summarise the prognosis.\n"}}],"timeLapsed":"23rd Mar 2022","publishedDate":"March 23, 2022"},{"id":236921,"title":"[Product Roadmap] How fintech startup PayMe India evolved into a full-stack digital lender in just five years","slug":"product-roadmap-fintech-startup-payme-full-stack-digital-lender-personal-loans","type":"RICH","subtitle":"Delhi-NCR based fintech startup PayMe India is a full-stack digital lender in the personal loan space. It aims to eliminate the difficulty of getting financial assistance by leveraging modern technologies. ","publishedAt":"2022-03-16T00:10:00.000Z","updatedAt":"2022-03-16T17:41:53.493Z","brand":{"name":"YourStory","slug":"yourstory","locale":"en_GB","path":"/"},"metadata":{"authors":[{"name":"Sindhu Kashyaap","username":"sindhu-kashyap","order":0,"path":"/author/sindhu-kashyap"}],"category":{"id":464,"name":"In Depth","slug":"ys-in-depth","path":"/category/ys-in-depth"},"excerpt":"Delhi-NCR based fintech startup PayMe India is a full-stack digital lender in the personal loan space. It aims to eliminate the difficulty of getting financial assistance by leveraging modern technologies. ","media":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/PR1-1647346135418.jpeg","thumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/PR1-1647346135418.jpeg","defaultThumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/PR1-1647346135418.jpeg","brandSpotlight":null,"removeAds":null,"curatedCategories":[],"sponsoredStory":null,"isRegistrationRequired":false,"timeToRead":7,"articleTopics":[],"richArticleTopics":[{"id":"991ecc3e-663e-11eb-b571-b76e0f3e580d","slug":"startup-journeys---future-roadmaps","name":"Startup Journeys / Future Roadmaps","type":"RICH-ARTICLE-TOPIC","order":0}],"tags":[{"name":"Product Roadmap","slug":"product-roadmap","order":0,"path":"/tag/product-roadmap"},{"name":"PayMe India","slug":"payme-india","order":1,"path":"/tag/payme-india"},{"name":"fintech startups","slug":"fintech-startups","order":2,"path":"/tag/fintech-startups"}]},"snippets":null,"trailers":null,"path":"/2022/03/product-roadmap-fintech-startup-payme-full-stack-digital-lender-personal-loans","featured":true,"mobilePostJson":[{"contentType":"text","value":{"data":"Hailing from a small town in Uttar Pradesh, Mahesh Shukla always believed that larger cities and towns would provide easy access to credit. However, to his dismay, the process was both cumbersome and expensive.\n\nWhile availing of a loan became difficult for him, someone who had worked in the banking sector for some of the leading brands like the Bank of America, DB, and Barclays, Mahesh could only imagine the plight of common people. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“At the Corporate Banking Division at Barclays, I came across new fintech companies. These companies were trying to eliminate the need to physically go to the bank. But their efforts were confined only to payments, as they were unable to break into the lending space, even though they had all the tools to do a better job in lending than banks. Paytm had just exploded here in India. But it was also confined to payments at the time,” says Mahesh. "}},{"contentType":"text","value":{"formats":{},"data":"After delving deep into the space, he started "}},{"contentType":"companyWidget","value":{"id":"da324900-ee7e-11ea-ac3e-bb1f8d29c9d8","name":"PayMe India","slug":"payme-india","logo":{"height":300,"width":300,"imageKey":"cs/images/companies/PayMeIndia-1599205835178.png","url":"https://images.yourstory.com/cs/images/companies/PayMeIndia-1599205835178.png"},"subtitle":"PayMe India is a platform for instant personal loans online.","foundingDate":"2016-06-01","companyURL":"https://yourstory.com/companies/payme-india","companyCoreTeam":[{"name":"Mahesh Shukla"},{"name":"Sandeep Singh"}],"sectors":[{"name":"Financial Services","slug":"financial-services"}]}},{"contentType":"text","value":{"formats":{},"data":" in 2016. The fintech startup is a full-stack digital lender in the personal loan space. It aims to eliminate the difficulty of getting financial assistance by leveraging modern technologies. \n\nPayMe India began with small ticket size advance salary loans. After venturing into ‘pay-later’ and affordable line of credit for MSMEs, it has now evolved into a full-fledged personal loan company with its own NBFC licence.\n"}},{"contentType":"companyConnect","value":{"id":"da324900-ee7e-11ea-ac3e-bb1f8d29c9d8","slug":"payme-india","name":"PayMe India"}},{"contentType":"alsoRead","value":{"title":"[Product Roadmap] How Lokal went from a WhatsApp group to a top hyperlocal content and social media app","thumbnail":"https://images.yourstory.com/cs/2/a09f22505c6411ea9c48a10bad99c62f/Imagepow4-1646762167239.jpg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/03/product-roadmap-lokal-hyperlocal-content-social-media-app"}},{"contentType":"text","value":{"formats":{"header":2},"data":"What does it do?\n"}},{"contentType":"text","value":{"data":"PayMe India provides instant credit solutions to both self-employed and salaried employees from Rs 500 to Rs 2 lakh as per their requirements. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“Our lending model empowers loan seekers to borrow easy, fast, safe, and affordable personal loans. The documentation process involved is very minimal, and the entire process -- starting from application to disbursement doesn't take more than a day. After the loan approval, the cash is instantly transferred to the bank account of the user,” says Mahesh. "}},{"contentType":"text","value":{"formats":{},"data":"Starting with the loan segment, the company has evolved to introduce several other products like investing in digital gold, investing in a mutual fund, paying rent online with a credit card, generating CIBIL reports for free, and others. \n\nIn February this year, PayMe India launched a new product called “SALT Buy Now Pay Later”. With this, users will be able to make purchases anytime, anywhere, and pay for it later.\n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"The MVP \n"}},{"contentType":"text","value":{"data":"The first product was a basic application with all the needed specialisations for user convenience. The app was easy to utilise with simple UX/UI. The user could easily and quickly apply for a loan and check their loan status on the app. \n\nHowever, Mahesh realised that developing a prototype is time-consuming, and they needed to have a minimum viable product (MVP). It took almost eight months to develop the first app, and his involvement as a product guy was too much since he was the one who imagined the product. \n\n“However, soon after launching, we had to go for many iterations to make the user journey easy,” says Mahesh. \n\nThe first app worked well for the initial six months. However, the team received a lot of feedback and suggestions from customers, who were demanding and wanted quick documentation and onboarding. With changing infra and the availability of new features, we decided to rework our app's UX and UI. \n"}},{"contentType":"companyConnect","value":{"id":"da324900-ee7e-11ea-ac3e-bb1f8d29c9d8","slug":"payme-india","name":"PayMe India"}},{"contentType":"blockquote","value":{"formats":{},"data":"“We gave our product a completely new look and made it more user-friendly. Earlier, the loan disbursal would take 24 hours, but now, with the help of new technology, the disbursal is facilitated in under 30 minutes,” says Mahesh."}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/PR2-1647346318090.jpeg"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Scaling the product \n"}},{"contentType":"text","value":{"formats":{},"data":"After the number of users crossed 50,000 in a couple of months, the core team felt they needed a dedicated team for managing the app. Once the infrastructure started hitting budget restrictions, they realised the product could not scale vertically anymore. So, the team began to look at technologies that could help reduce infrastructure costs along with better availability. \n\nThey also focussed on understanding user behaviour by speaking to all their customers. The team tried to figure out how to make the app more user-friendly and convenient. They even offered a mandatory feedback column for all users and started rewarding them with cashback and other relevant benefits. \n"}},{"contentType":"companyConnect","value":{"id":"da324900-ee7e-11ea-ac3e-bb1f8d29c9d8","slug":"payme-india","name":"PayMe India"}},{"contentType":"blockquote","value":{"formats":{},"data":"\u003cb>\"This feedback from end-users helped us plan our new releases and functions,” says Mahesh. \u003c/b>"}},{"contentType":"text","value":{"formats":{},"data":"When PayMe India finally launched its product, it was a comparatively new concept in the market, and it was a little difficult for Indian customers to understand how a loan app works. The user was aware of the loan aggregator; however, they had no experience of complete processing and approval over application instantly. \n"}},{"contentType":"alsoRead","value":{"title":"[Product Roadmap] How Zoomcar brought in technology to create a niche in the car rental segment \r\n","thumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/GregMoran-1646104436067.jpeg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/03/product-roadmap-niche-car-rental-startup-zoomcar-greg-moran"}},{"contentType":"text","value":{"formats":{"header":2},"data":"User feedback loop \n"}},{"contentType":"text","value":{"formats":{},"data":"Initially, the customers felt there could be some catch. “We took this situation as a challenge, and we took some initial effort to convince and make our initial customers comfortable and understand the process. We also went to some reliable websites and asked them to list our product there, which worked like a miracle and brought our initial 5,000 customers. We also took a lot of security certifications to make our customers comfortable dealing with a legitimate app,” says Mahesh. \n\nHowever, managing product development and scale is a challenge in itself. Despite that, PayMe now has a substantial regulatory part looked after. The team did this in a well-planned and phased manner to manage any last moment rush and reduce any inconvenience. \n\n“With little syncing and prioritising, we have been continuously adding features in our app, which are appropriate for our customers. The main challenge was to keep uptime and response under control and to see that users were not getting impacted at any point in time. Another challenge was supporting the development and avoiding monkey patching at all costs.\"\n\n\"We had to ensure we kept bugs to a minimum, even if it resulted in extended timelines. We also moved from legacy monolith architecture to microservices architecture to cope with scale and availability,” adds Mahesh. \n"}},{"contentType":"companyConnect","value":{"id":"da324900-ee7e-11ea-ac3e-bb1f8d29c9d8","slug":"payme-india","name":"PayMe India"}},{"contentType":"alsoRead","value":{"title":"[Product Roadmap] How Frontier Markets integrated tech to empower over 500,000 rural families ","thumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/FinalFrontiermarkets-1645587968812.jpeg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/02/product-roadmap-frontier-markets-tech-empower-rural-families-startup"}},{"contentType":"text","value":{"formats":{"header":2},"data":"The future  \n"}},{"contentType":"text","value":{"formats":{},"data":"The ecosystem is changing rapidly, and so is the expectation from the customer's side. Automation is also driving growth and making it easy in the process. Mahesh explains the team has reduced most of the manual work with automation. Hyper-automation with the help of AI/ML, deep learning, and RPA are bringing lots of efficiency around decision making and work automation. \n\n“We moved from manual disbursals to automated disbursals and reduced the time by about 90 percent. We also integrated eMandates/eNach/UPI to simplify repayments. From manual KYC, we took advantage of eKYC and shortened the customer journey further. CI/CD helped us streamline our release process at the infrastructure level. Crashlytics and performance benchmarks helped improve the app experience for users and identify issues early on. These key technologies and trends are becoming increasingly intertwined and integrated, giving massive impetus to fintech and financial industry innovation,” explains Mahesh. \n\nPayMe India recently launched 'SALT,' a virtual credit card, offering credit over UPI. The new app will help the user base utilise the available credit limit for their day-to-day transactions and even small transactions imbibing the proper credit habit. The customers can track their monthly expenses and their category from the statements. They can also earn loyalty points that can be clubbed and redeemed for exciting items. \n\n“We are nimble-footed and closely monitoring all technological development in the sector. We hope there is a new future waiting for us where in Defi, account aggregation, and digital assets will change a lot of things,” says Mahesh.\n"}},{"contentType":"companyConnect","value":{"id":"da324900-ee7e-11ea-ac3e-bb1f8d29c9d8","slug":"payme-india","name":"PayMe India"}},{"contentType":"companyConnect","value":{"id":"da324900-ee7e-11ea-ac3e-bb1f8d29c9d8","slug":"payme-india","name":"PayMe India"}}],"timeLapsed":"16th Mar 2022","publishedDate":"March 16, 2022","editorsPickTitle":"[Product Roadmap] How fintech startup PayMe evolved into full-stack lender","editorsPickSubtitle":"Delhi-NCR based fintech startup PayMe, a full-stack digital lender in the personal loan space, aims to eliminate the difficulty of getting financial assistance.","editorsPickStartTime":"2022-03-16T03:30:00.000Z","editorsPickEndTime":"2022-03-16T06:30:00.000Z"},{"id":231916,"title":"How Eruditus built a global business around executive education — organically","slug":"unicorn-eruditus-built-global-business-executive-education","type":"RICH","subtitle":"In 2016, edtech unicorn Eruditus looked beyond India for learners of its courses curated with the world's most pedigreed universities. The US and Latin America regions now clock over 50 percent of its bookings.","publishedAt":"2022-03-14T01:15:00.000Z","updatedAt":"2022-03-14T13:19:02.843Z","brand":{"name":"YourStory","slug":"yourstory","locale":"en_GB","path":"/"},"metadata":{"authors":[{"name":"Kunal Talgeri","username":"kunal-talgeri","order":0,"path":"/author/kunal-talgeri"}],"category":{"id":464,"name":"In Depth","slug":"ys-in-depth","path":"/category/ys-in-depth"},"excerpt":"Since edtech unicorn Eruditus globalised its product Emeritus.org, over 50 percent of its annual bookings are from the US and Lat Am, with another 15 percent from 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"}},{"contentType":"companyWidget","value":{"id":"8961e870-9f83-11ec-8d34-d3b42175d705","name":"Emeritus","slug":"emeritus","logo":{"height":300,"width":300,"imageKey":"cs/images/companies/14006797337548662146051021907940309176669546n1-1646815188753.jpg","url":"https://images.yourstory.com/cs/images/companies/14006797337548662146051021907940309176669546n1-1646815188753.jpg"},"subtitle":"Emeritus Insights is a micro-learning platform with a library of 5,000+ lessons to help users upskill in key areas like leadership, communication, marketing etc.","foundingDate":"2015-01-01","companyURL":"https://yourstory.com/companies/emeritus","companyCoreTeam":[{"name":"Chaitanya Kalipatnapu"},{"name":"Ashwin Damera"}],"sectors":[{"name":"EdTech/Education","slug":"edtech-education"}]}},{"contentType":"text","value":{"formats":{},"data":" got "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2022/03/funding-edtech-unicorn-emeritus-debt-financing-eruditus-cpp-investments/amp"},"data":"$350 million in debt-financing"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" from CPP Investments"}},{"contentType":"text","value":{"formats":{},"data":" to fund its mergers and acquisitions (M&A) over the next five years.\n\n\n"}},{"contentType":"companyWidget","value":{"id":"8961e870-9f83-11ec-8d34-d3b42175d705","name":"Emeritus","slug":"emeritus","logo":{"height":300,"width":300,"imageKey":"cs/images/companies/14006797337548662146051021907940309176669546n1-1646815188753.jpg","url":"https://images.yourstory.com/cs/images/companies/14006797337548662146051021907940309176669546n1-1646815188753.jpg"},"subtitle":"Emeritus Insights is a micro-learning platform with a library of 5,000+ lessons to help users upskill in key areas like leadership, communication, marketing etc.","foundingDate":"2015-01-01","companyURL":"https://yourstory.com/companies/emeritus","companyCoreTeam":[{"name":"Chaitanya Kalipatnapu"},{"name":"Ashwin Damera"}],"sectors":[{"name":"EdTech/Education","slug":"edtech-education"}]}},{"contentType":"text","value":{"formats":{},"data":" is part of the "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Eruditus"}},{"contentType":"text","value":{"formats":{},"data":" "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Group"}},{"contentType":"text","value":{"formats":{},"data":", founded by "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Ashwin Damera and Chaitanya Kalipatnapu"}},{"contentType":"text","value":{"formats":{},"data":" in 2010, and last valued at $3.2 billion in August 2021.\n\n\nWhile the Mumbai-headquartered edtech unicorn now has a war chest for M&A, its journey to gross "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"$505 million in bookings for fiscal year ended June 2022"}},{"contentType":"text","value":{"formats":{},"data":" has been almost entirely organic. Its first acquisition only happened in May last year — iD Tech — for $200 million.\n\n"}},{"contentType":"companyConnect","value":{"id":"0db13da0-eb72-11ea-863b-796f0fefcd2c","slug":"eruditus","name":"Eruditus"}},{"contentType":"companyWidget","value":{"id":"0db13da0-eb72-11ea-863b-796f0fefcd2c","name":"Eruditus","slug":"eruditus","logo":{"height":300,"width":300,"imageKey":"cs/images/companies/Eruditus-Executive-Education300x300-1598942456005.png","url":"https://images.yourstory.com/cs/images/companies/Eruditus-Executive-Education300x300-1598942456005.png"},"subtitle":"Eruditus Executive Education collaborate with top universities to make world-class executive education accessible globally.","foundingDate":"2010-01-01","companyURL":"https://yourstory.com/companies/eruditus","companyCoreTeam":[{"name":"Ashwin Damera"},{"name":"Chaitanya Kalipatnapu"}],"sectors":[{"name":"Services","slug":"services"},{"name":"EdTech/Education","slug":"edtech-education"}]}},{"contentType":"text","value":{"formats":{},"data":"' growth has played out over a decade in the backdrop of "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"MOOC (massive open online courses)"}},{"contentType":"text","value":{"formats":{},"data":" platforms like "}},{"contentType":"companyWidget","value":{"id":"b10c2190-ac9c-11eb-a168-55573884b1a3","name":"Coursera","slug":"coursera","logo":{"height":300,"width":300,"imageKey":"cs/images/companies/m1ya2y3kmemfp9brt02n-1620107454932.jpg","url":"https://images.yourstory.com/cs/images/companies/m1ya2y3kmemfp9brt02n-1620107454932.jpg"},"subtitle":"Coursera Inc. is an American massive open online course provider founded in 2012.","foundingDate":"2012-01-01","companyURL":"https://yourstory.com/companies/coursera","companyCoreTeam":[{"name":"Andrew Ng"},{"name":"Daphne Koller"}],"sectors":[{"name":"Education","slug":"education"},{"name":"EdTech/Education","slug":"edtech-education"}]}},{"contentType":"text","value":{"formats":{},"data":", "}},{"contentType":"companyWidget","value":{"id":"f6659e00-1c32-11ec-a25b-53ef1b6fb777","name":"Udacity","slug":"udacity","logo":{"height":600,"width":600,"imageKey":"cs/images/companies/127437427995372701516137802811979984674555n-1632377195363.png","url":"https://images.yourstory.com/cs/images/companies/127437427995372701516137802811979984674555n-1632377195363.png"},"subtitle":"Udacity is bringing the latest digital skills within reach.","foundingDate":"2011-01-01","companyURL":"https://yourstory.com/companies/udacity","companyCoreTeam":[{"name":"David Stavens"},{"name":"Mike Sokolsky"},{"name":"Sebastian Thrun"}],"sectors":[{"name":"EdTech/Education","slug":"edtech-education"}]}},{"contentType":"text","value":{"formats":{},"data":", and EdX.\n,\nWhile "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Coursera went public on the New York Stock Exchange"}},{"contentType":"text","value":{"formats":{},"data":" a year ago, EdX got acquired by 2U. Their courses are built in partnership with universities, whereas Udacity has evolved into a technical training platform that partners with companies like Google.\n\nThe MOOC highway helped Coursera scale up to nearly 97 million registered learners — and, revenue of $415.3 million — in 2021. In contrast, Eruditus' annual bookings of $505 million has come on the back of "}},{"contentType":"companyConnect","value":{"id":"0db13da0-eb72-11ea-863b-796f0fefcd2c","slug":"eruditus","name":"Eruditus"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"3 million registered learners"}},{"contentType":"text","value":{"formats":{},"data":".\n"}},{"contentType":"iframe","value":{"url":"https://flo.uri.sh/visualisation/8901897/embed"}},{"contentType":"text","value":{"formats":{},"data":"\nEruditus calls its operating model "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"'SPOC' (small open private courses)"}},{"contentType":"text","value":{"formats":{},"data":" that is focused on completion of courses in its learner base.\n\nBut what makes the company unique in the league of edtech unicorns from India like BYJU'S, Unacademy, and Vedantu is that "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"much of Eruditus' revenue growth has been driven by learners outside India"}},{"contentType":"text","value":{"formats":{},"data":".\n\nSimply put, it is a "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"global company"}},{"contentType":"text","value":{"formats":{},"data":" unlike its Indian peers.\n\n\nIn fiscal year ended June 2021, Eruditus clocked "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"annual bookings of $175 million"}},{"contentType":"text","value":{"formats":{},"data":". Of this, "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"36 percent came from the United States of America (US), 16 percent from Latin America, and 15 percent from Europe"}},{"contentType":"companyConnect","value":{"id":"0db13da0-eb72-11ea-863b-796f0fefcd2c","slug":"eruditus","name":"Eruditus"}},{"contentType":"text","value":{"formats":{},"data":".\n\nEffectively, "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"two-thirds of Eruditus' FY 2021 bookings were from the three regions"}},{"contentType":"text","value":{"formats":{},"data":", compared to 59 percent in FY 2020, and 52 percent in FY 2021.\n"}},{"contentType":"iframe","value":{"url":"https://flo.uri.sh/visualisation/8901641/embed"}},{"contentType":"text","value":{"formats":{},"data":"\nThis is the story of why and how Eruditus "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"discovered"}},{"contentType":"text","value":{"formats":{},"data":" its global learner base.\n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"The early years\n"}},{"contentType":"text","value":{"formats":{},"data":"It took Eruditus five years to hone its product-proposition and learner experience in executive education. Between 2010 and 2015, it evolved as a service to enable "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"classroom-learning of courses"}},{"contentType":"text","value":{"formats":{},"data":" curated with leading universities across the world. Think INSEAD, Wharton, or Kellogg.\n\nFounders Ashwin and Chaitanya were clear about who their customers were — "}},{"contentType":"companyConnect","value":{"id":"0db13da0-eb72-11ea-863b-796f0fefcd2c","slug":"eruditus","name":"Eruditus"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"working professionals"}},{"contentType":"text","value":{"formats":{},"data":". And there were three reasons for this.\n\nOne, working professionals had the "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"disposable income"}},{"contentType":"text","value":{"formats":{},"data":" to afford executive education. Two, it was "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"more affordable"}},{"contentType":"text","value":{"formats":{},"data":" for learners to study on Eruditus in India, than if they had to leave work to do a two-year course in any of the global universities. And three, the Eruditus experience helped students get "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"certification from global universities"}},{"contentType":"text","value":{"formats":{},"data":" on completion.\n\nSo, Ashwin and Chaitanya figured out how to work with the global universities to design "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"on-premise"}},{"contentType":"text","value":{"formats":{},"data":" "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"executive-education programmes"}},{"contentType":"text","value":{"formats":{},"data":". It was a back-breaking process, but the duo was convinced that the courses would be valued by learners in India.\n\nHowever, they faced a "}},{"contentType":"companyConnect","value":{"id":"0db13da0-eb72-11ea-863b-796f0fefcd2c","slug":"eruditus","name":"Eruditus"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"reality check in India"}},{"contentType":"text","value":{"formats":{},"data":" in 2015: the number of students paying for the executive-education courses was still in three digits.\n\nThis meant if Eruditus had to "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"maximise revenue for the courses"}},{"contentType":"text","value":{"formats":{},"data":" it co-created with Ivy League universities, it had to think global. Think online — that was the only way.\n\n\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Emeritus.org "}},{"contentType":"text","value":{"formats":{},"data":"became the global face of its SPOC programmes. And the founders put their might behind making it an "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"online learning platform"}},{"contentType":"text","value":{"data":" for working professionals. They haven't looked back since.\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"\"For us, the advantage was that an MIT, Wharton, Harvard or UC Berkeley are already established brands. Our model had the inherent advantage to go global. So, we leveraged that,\" recalls Ashwin Damera, CEO of Eruditus Learning Solutions."}},{"contentType":"iframe","value":{"url":"https://flo.uri.sh/visualisation/8901703/embed"}},{"contentType":"text","value":{"formats":{},"data":"\nMore than 25 percent of its "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"learner-enrolments"}},{"contentType":"text","value":{"formats":{},"data":" in FY 2021 was from the US, followed by 19 percent from India, 16 percent from Latin America, and 14 percent from Europe.\n\nIn the past year, Eruditus has hired Charlie Schilling to head the "}},{"contentType":"companyConnect","value":{"id":"0db13da0-eb72-11ea-863b-796f0fefcd2c","slug":"eruditus","name":"Eruditus"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"US, Europe, and Canada"}},{"contentType":"text","value":{"formats":{},"data":" markets, and Andrea Mansano to head the "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Latin America"}},{"contentType":"text","value":{"formats":{},"data":" markets.\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/f86c090087cc11eba777b34f5b721f5e/Photo-EruditusUSLatAm-1646890656256.png"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Coursera "}},{"contentType":"text","value":{"data":"generates 50 percent of its $415-million revenue from the US, and 27 percent from Europe, Middle East and Africa. So, there is a lot of headroom still for Eruditus in the western markets.\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"\"The biggest constraint in higher education is not on the demand side, but on the supply side,\" says Ashwin. \"It is very different from K-12, which has unlimited supply because they have enough tutors.\""}},{"contentType":"text","value":{"formats":{},"data":"That's why Eruditus has worked on growing its "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"online certificate courses"}},{"contentType":"text","value":{"formats":{},"data":" by nearly 10 times in three years to 260 courses, online programmes by four times, and online degree courses by six times in a single year to 20.\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/f86c090087cc11eba777b34f5b721f5e/Photo-Erudituscoreteam-1646894831216.png"}},{"contentType":"text","value":{"formats":{},"data":"In all, it has partnerships with 70 global universities to prepare 320 executive-education courses. Most of this work is done from India, which becomes a significant "}},{"contentType":"companyConnect","value":{"id":"0db13da0-eb72-11ea-863b-796f0fefcd2c","slug":"eruditus","name":"Eruditus"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"differentiator"}},{"contentType":"text","value":{"formats":{},"data":" against Udacity and Coursera when it comes to scaling its production and delivery team.\n\nFor instance, Coursera reported 1,138 full-time employees in 2021. In contrast, around 1,500 employees (or two-thirds) of "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Eruditus' 2,300-strong employee base"}},{"contentType":"text","value":{"formats":{},"data":" is in India, with 400 people in Mexico, 200 in the US, and the rest spread out in China, West Asia, and Singapore.\n\n\"We have taken global to the next level,\" Ashwin says. \"Emeritus is not just about translating university courses from the US and Europe. Instead, "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"we go into local markets, work with the local universities"}},{"contentType":"text","value":{"formats":{},"data":", have a local team market in local channels, and have a local context to the content and case studies.\"\n"}},{"contentType":"companyConnect","value":{"id":"0db13da0-eb72-11ea-863b-796f0fefcd2c","slug":"eruditus","name":"Eruditus"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/f86c090087cc11eba777b34f5b721f5e/Photo-EruditusAsia-1647167545844.png"}},{"contentType":"text","value":{"formats":{},"data":"This means each geographic region of "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Eruditus can grow its global learner base by simply capitalising on the local universities in a region"}},{"contentType":"text","value":{"formats":{},"data":". In Latin America, Eruditus has worked with EGADE Business School, Tecnológico de Monterrey, and IPADE Business School in Mexico), and INCAE Business School in Costa Rica.\n\nThis becomes a huge draw for Emeritus.org learners in the local markets, where the brands are better known before they are discovered globally. In India, the "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Indian Institutes of Technology, Indian Institutes of Management, and XLRI"}},{"contentType":"text","value":{"data":" can find a learner base from anywhere in the world when they are on Emeritus.\n"}},{"contentType":"companyConnect","value":{"id":"0db13da0-eb72-11ea-863b-796f0fefcd2c","slug":"eruditus","name":"Eruditus"}},{"contentType":"blockquote","value":{"formats":{},"data":"\"Once we get a course and launch it, there is so much demand for a quality institution that there is enough of a pull factor to it,\" Ashwin says. \"Each market has nuances, topics, and other variations. To be successful, we need to have local leadership.\""}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/f86c090087cc11eba777b34f5b721f5e/Photo-JamieFarrellEruditus-1647167647166.png"}},{"contentType":"text","value":{"formats":{},"data":"Each market therefore has demands of the course that are unique. When Eruditus does a course with MIT for learners in the US, "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"one-third of the material comprises recorded video-lectures"}},{"contentType":"text","value":{"formats":{},"data":", another one-third is live sessions, and the last third is applications, homework, projects, and so on.\n\nLearners in India market, however, have a much "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"higher preference for live teaching"}},{"contentType":"text","value":{"data":", especially in higher education.\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"\"In fact, Indians are happy if we say, 'log in for live classes on Saturday evening, from 5 PM to 8 PM (IST),\" Ashwin told \u003cem>YourStory\u003c/em>."}},{"contentType":"text","value":{"formats":{},"data":"\"Indian learners and faculty are happy to do live classes on weekends. But "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"in the US, nobody will turn up on Saturday and Sunday"}},{"contentType":"text","value":{"formats":{},"data":",\" Ashwin notes.\n\nEruditus has ensured more of "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"live teaching for learners"}},{"contentType":"companyConnect","value":{"id":"0db13da0-eb72-11ea-863b-796f0fefcd2c","slug":"eruditus","name":"Eruditus"}},{"contentType":"text","value":{"formats":{},"data":" in India. Almost "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"80 percent is live teaching"}},{"contentType":"text","value":{"formats":{},"data":", and 20 percent is project work.\n\nSimilarly, in China, learners are extremely keen to know about the class composition for a course because of the "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"networking opportunities"}},{"contentType":"text","value":{"formats":{},"data":". \"We have to design the course based on the learning outcomes learners want,\" Ashwin says.\n\nBut when he and Chaitanya began the "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Eruditus journey"}},{"contentType":"text","value":{"formats":{},"data":" in 2010, they would have hardly imagined that the executive-education courses they designed would some day have to be curated by country. That's how far Eruditus has come after 12 years.\n"}},{"contentType":"companyConnect","value":{"id":"0db13da0-eb72-11ea-863b-796f0fefcd2c","slug":"eruditus","name":"Eruditus"}}],"timeLapsed":"14th Mar 2022","publishedDate":"March 14, 2022","editorsPickTitle":"How Eruditus built a global biz around executive education, organically","editorsPickSubtitle":"In 2016, edtech unicorn Eruditus looked beyond India for learners of its courses curated with the world's most pedigreed universities. 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And now, this dream seems to be turning into a reality after it successfully managed to file its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"in January 2022 to raise Rs 2,000 crore from the public markets. "}},{"contentType":"text","value":{"data":"\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"An IPO will be a crucial step in its journey of \u003cb>being a lifestyle company, which operates a house of brands, says Vivek Gambhir, CEO of Imagine Marketing.\u003c/b> "}},{"contentType":"text","value":{"formats":{},"data":"He adds that the timing of the IPO will depend on SEBI’s approval and will be based on discussions with its bankers, without commenting on the current impact of sliding market sentiments on the decision.\n\nOne of the country’s largest direct-to-consumer (D2C) brands, "}},{"contentType":"companyConnect","value":{"id":"204bbd60-8af4-11eb-b025-4f185c624295","slug":"boat-lifestyle","name":"boAt Lifestyle"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Imagine Marketing will utilise Rs 700 crore to prepay its borrowings,"}},{"contentType":"text","value":{"formats":{},"data":" with the remaining amount earmarked for general corporate purpose. \n\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Warburg Pincus affiliate South Lake Investment will sell shares worth Rs 800 crore "}},{"contentType":"text","value":{"formats":{},"data":"in the company as "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2021/01/made-in-india-brand-boat-funding-delhi-startup-warburg-pincus/amp"},"data":"part of the secondary offering."}},{"contentType":"text","value":{"formats":{},"data":"\n\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Vivek"}},{"contentType":"text","value":{"formats":{},"data":" joined the company in February 2021 from Godrej Consumer Products and was among the first senior hires made by the company in preparation for its public listing. In charge of house-keeping at the company and with a sharp focus on profit and loss metrics by his own admission, Vivek says that raising the profile of the company will help it attract global investors and open opportunities for partnerships, as well as merger and acquisitions.\n\nFounders of the company, "}},{"contentType":"companyConnect","value":{"id":"204bbd60-8af4-11eb-b025-4f185c624295","slug":"boat-lifestyle","name":"boAt Lifestyle"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Sameer Mehta "}},{"contentType":"text","value":{"formats":{},"data":"and"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" Aman Gupta, "}},{"contentType":"text","value":{"formats":{},"data":"who own"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" "}},{"contentType":"text","value":{"formats":{"bold":true,"link":"https://yourstory.com/2022/01/key-takeaways-d2c-boat-ipo-filing-listing-drhp-imagine-marketing/amp"},"data":"28.26 percent stake in the company"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" "}},{"contentType":"text","value":{"formats":{},"data":"each"}},{"contentType":"text","value":{"formats":{"bold":true},"data":", will continue to focus on their current roles,"}},{"contentType":"text","value":{"formats":{},"data":" with "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Sameer "}},{"contentType":"text","value":{"formats":{},"data":"taking the lead on product development. Aman, now a household name due to "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Shark Tank India"}},{"contentType":"text","value":{"formats":{},"data":", will continue as the "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Chief Marketing Officer"}},{"contentType":"text","value":{"data":" and will focus on brand-building, says Vivek.\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“We have been profitable since day-one, but we are in the stage where we are evolving our business to become a multi-category, multi-brand , multi-channel and multi-geography player. The IPO will help us grow as a lifestyle centric company with a house of brands, establishing a strong presence in new categories such as wearables,” Vivek tells \u003cem>YourStory\u003c/em>. "}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/b3bfb136ab5e11e88691f70342131e20/Imagerzt7-1609857746834.jpg","caption":"\u003cp>boAt founders Aman Gupta and Sameer Mehta\u003c/p>"}},{"contentType":"alsoRead","value":{"title":"‘Everyone wants to be a unicorn before building a brand’: Diving into the minds of Shark Tank India’s Aman Gupta and Vineeta Singh","thumbnail":"https://images.yourstory.com/cs/2/628912e0d7f211eb8e8307e5b6451cf7/FEATURESHARK-1644473584968.jpg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/02/aman-gupta-vineeta-singh-brands-india-shark-tank"}},{"contentType":"text","value":{"formats":{"header":2},"data":"House of brands strategy\n"}},{"contentType":"text","value":{"formats":{},"data":"Founded in 2016, the company started out with headphones, and now has its presence across categories such as"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" smartwatches through the acquisition of TAGG, gaming accessories through its acquisition of RedGear, and men’s personal care accessories through its sub-brand, Misfit. "}},{"contentType":"companyConnect","value":{"id":"204bbd60-8af4-11eb-b025-4f185c624295","slug":"boat-lifestyle","name":"boAt Lifestyle"}},{"contentType":"text","value":{"formats":{},"data":"\n\nThe company also acquired Singapore-based "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"KaHa Pte Limited in January 2022"}},{"contentType":"text","value":{"formats":{},"data":" to enhance the design, electronic firmware, and algorithm development for its wearables category. \n\nWhile the company has not set aside any particular funds for future acquisitions, its expansion into new categories will be a factor of launching in-house brands and strategic acquisitions, says Vivek.\n\nAccording to data available with Counterpoint Research, "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"boAt recorded the highest growth "}},{"contentType":"text","value":{"formats":{},"data":"in the sub-$50 TWS hearables market globally year-on-year for 2021, though Xiaomi clocked the highest sales in the segment. In the smartwatch category in India, boAt accounted for 26 percent of the market share in 2021, within a year of its launch. This was only second to Noise, which commanded 27 percent of the market share. \n\nIn its DRHP, Imagine Marketing said that it was also targeting collaboration with technology companies"}},{"contentType":"companyConnect","value":{"id":"204bbd60-8af4-11eb-b025-4f185c624295","slug":"boat-lifestyle","name":"boAt Lifestyle"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" "}},{"contentType":"text","value":{"formats":{},"data":"to"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" develop smart devices, combining internet-of-things and Imagine Marketing’s expertise in speakers and audio"}},{"contentType":"text","value":{"formats":{},"data":" – such as smart speakers, among others. It will also collaborate with system-on-chip technology companies in the receiver and sensors space, said the company in its DRHP.\n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Expansion plans \n"}},{"contentType":"text","value":{"formats":{},"data":"As the global demand for sub-$50 TWS hearables continues, boAt has identified its next frontier – "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"developing markets including the United Arab Emirates, Southeast Asia, and Nepal"}},{"contentType":"text","value":{"formats":{},"data":". The company launched its products in Nepal in February 2022. It said it will leverage its partnership with online marketplaces to make its foray into the new markets.\n\nboAt also relies heavily on "}},{"contentType":"companyConnect","value":{"id":"204bbd60-8af4-11eb-b025-4f185c624295","slug":"boat-lifestyle","name":"boAt Lifestyle"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Amazon and Flipkart, which contribute 75.02 percent of its revenue from operations"}},{"contentType":"text","value":{"formats":{},"data":". It currently has an offline presence across "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"23,000 retail stores"}},{"contentType":"text","value":{"data":", a footprint the company intends to grow.\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“Being omni-channel is a critical part of our strategy and 15 percent of our business comes from offline. We want to be where our customers want to shop and we expect to grow our distribution through offline channels,” said Vivek. He added that the company’s own website accounted for 3 to 4 percent of business at present."}},{"contentType":"text","value":{"formats":{"header":2},"data":"Diversifying supply chain\n"}},{"contentType":"text","value":{"formats":{},"data":"As the pandemic disrupted the China-centered supply chain for electronics companies globally, I"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"magine Marketing has committed to spend Rs 40 crore as part of its joint venture with contract manufacturer, Dixon Technologies"}},{"contentType":"text","value":{"formats":{},"data":". The company will partner with Dixon to manufacture its bluetooth-enabled headsets for now.\n\n“While China continues to be a majority of our supply chain, we have opened up in Vietnam and have started working with Dixon in India as part of our "}},{"contentType":"companyConnect","value":{"id":"204bbd60-8af4-11eb-b025-4f185c624295","slug":"boat-lifestyle","name":"boAt Lifestyle"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Make in India "}},{"contentType":"text","value":{"formats":{},"data":"efforts,” says Vivek.\n\nThe company said it partners with over "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"10 suppliers for contract manufacturing services in India"}},{"contentType":"text","value":{"formats":{},"data":" as part of its DRHP. \n\nWith operating revenue of Rs 1,313.73 crore for FY 2020-21 and profits of Rs 86.53 crore for the period, Imagine Marketing hopes to turn a corner with its imminent IPO to generate profits and expand the brand beyond the Indian market.\n\n"}},{"contentType":"companyConnect","value":{"id":"204bbd60-8af4-11eb-b025-4f185c624295","slug":"boat-lifestyle","name":"boAt Lifestyle"}}],"timeLapsed":"14th Mar 2022","publishedDate":"March 14, 2022","editorsPickTitle":"BoAt parent Imagine Marketing wants to turn into a house of brands","editorsPickSubtitle":"The company, which filed its DRHP with market regulator SEBI in January, wants to enter new categories by launching new sub-brands and acquisitions. ","editorsPickStartTime":"2022-03-14T00:30:00.000Z","editorsPickEndTime":"2022-03-14T03:30:00.000Z"},{"id":236080,"title":"[Product Roadmap] How Lokal went from a WhatsApp group to a top hyperlocal content and social media app","slug":"product-roadmap-lokal-hyperlocal-content-social-media-app","type":"RICH","subtitle":"In this week’s Product Roadmap, we feature hyperlocal content and social media platform Lokal. The Bengaluru-headquartered app, which offers local news, classifieds, matrimony ads, and jobs in regional languages, now has 20 million+ downloads and monthly active user base of more than 6 million users","publishedAt":"2022-03-09T01:15:00.000Z","updatedAt":"2022-03-09T10:00:18.353Z","brand":{"name":"YourStory","slug":"yourstory","locale":"en_GB","path":"/"},"metadata":{"authors":[{"name":"Sindhu Kashyaap","username":"sindhu-kashyap","order":0,"path":"/author/sindhu-kashyap"}],"category":{"id":464,"name":"In Depth","slug":"ys-in-depth","path":"/category/ys-in-depth"},"excerpt":"Hyperlocal content and social media platform Lokal offers local news, classifieds, matrimony ads, and jobs in regional languages.","media":"https://images.yourstory.com/cs/2/a09f22505c6411ea9c48a10bad99c62f/Imagepow4-1646762167239.jpg","thumbnail":"https://images.yourstory.com/cs/2/a09f22505c6411ea9c48a10bad99c62f/Imagepow4-1646762167239.jpg","defaultThumbnail":"https://images.yourstory.com/cs/2/a09f22505c6411ea9c48a10bad99c62f/Imagepow4-1646762167239.jpg","brandSpotlight":null,"removeAds":null,"curatedCategories":[],"sponsoredStory":null,"isRegistrationRequired":false,"timeToRead":11,"articleTopics":[],"richArticleTopics":[{"id":"991ecc3d-663e-11eb-b571-b76e0f3e580d","slug":"product-and-app-reviews","name":"Product and App Reviews","type":"RICH-ARTICLE-TOPIC","order":0}],"tags":[{"name":"Lokal","slug":"lokal","order":0,"path":"/tag/lokal"},{"name":"hyperlocal content","slug":"hyperlocal-content","order":1,"path":"/tag/hyperlocal-content"},{"name":"social media","slug":"social-media","order":2,"path":"/tag/social-media"},{"name":"Daily News","slug":"daily-news","order":3,"path":"/tag/daily-news"},{"name":"Product Roadmap","slug":"product-roadmap","order":4,"path":"/tag/product-roadmap"}]},"snippets":null,"trailers":null,"path":"/2022/03/product-roadmap-lokal-hyperlocal-content-social-media-app","featured":true,"mobilePostJson":[{"contentType":"text","value":{"formats":{},"data":"In 2017, Donald Trump had won the US Presidential election, and echo chambers were the talk of the town. This inspired friends and colleagues "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Vipul Chaudhary"}},{"contentType":"text","value":{"formats":{},"data":" and "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Jani Pasha"}},{"contentType":"text","value":{"formats":{},"data":" to work on building a news aggregator platform called "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"The Soup"}},{"contentType":"text","value":{"formats":{},"data":". \n\nThe duo spent close to five months building that product, but never paused to speak to the target users to understand their reading habits, how they consumed news, and where they got their news from. \n\n“Eventually, when The Soup didn’t work out, we decided to reach out to people. We realised most people in Tier II and Tier III towns weren’t getting information about their areas from existing apps. These insights led to "}},{"contentType":"companyWidget","value":{"id":"23879ca0-a996-11ea-9a3f-69a70e6ffe2c","name":"Lokal","slug":"lokal","logo":{"height":300,"width":300,"imageKey":"cs/images/companies/718654518962269707628724858118228120961024n-1591627289344.jpg","url":"https://images.yourstory.com/cs/images/companies/718654518962269707628724858118228120961024n-1591627289344.jpg"},"subtitle":"Lokal is a one-stop platform for life services and hyperlocal news interaction.","foundingDate":"2018-06-01","companyURL":"https://yourstory.com/companies/lokal","companyCoreTeam":[{"name":"Vipul Chaudhary"},{"name":"Jani Pasha"}],"sectors":[{"name":"Content","slug":"content"},{"name":"Media","slug":"media"},{"name":"Hyperlocal","slug":"hyperlocal"}]}},{"contentType":"text","value":{"data":",” Jani says.\n\nMost people heavily relied on local newspapers to get updates in their own language. However, the content was limited – the number of pages were few and the news would reach readers the next day. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“Meanwhile, the rest of the world had instant news updates at their fingertips. This is when we decided to build a platform that would make relevant content digitally accessible to this population in their native language. From a single-use case, we have now moved to a multi-use case format. Addressing the issues of 200+ districts, we have successfully built a hyperlocal platform that enables masses to interact, exchange information, and unlock digital opportunities,” Jani says. "}},{"contentType":"text","value":{"formats":{},"data":"The "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2020/06/startup-bharat-ycombinator-3one4-hyperlocal-content-startup-lokal/amp"},"data":"hyperlocal content startup"}},{"contentType":"text","value":{"formats":{},"data":", headquartered in Bengaluru, offers local news, classifieds, matrimony advertisements, job listings, and more in regional languages. \n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/a09f22505c6411ea9c48a10bad99c62f/Imagess8t-1646762222242.jpg","caption":"\u003cp>Team Lokal\u003c/p>"}},{"contentType":"alsoRead","value":{"title":"[Startup Bharat] In a quest to spot fake news, these IITians started Lokal, a YC-backed hyperlocal content startup ","thumbnail":"https://images.yourstory.com/cs/2/3fb20ae02dc911e9af58c17e6cc3d915/SB2-1591190140674.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2020/06/startup-bharat-ycombinator-3one4-hyperlocal-content-startup-lokal"}},{"contentType":"text","value":{"formats":{"header":2},"data":"From WhatsApp to Lokal\n"}},{"contentType":"text","value":{"formats":{},"data":"Things started on WhatsApp. In February 2018, the team started a WhatsApp group to distribute local news sourced from a stringer in "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Kodad, a town in Telangana"}},{"contentType":"text","value":{"formats":{},"data":". That one group turned into many quickly as more people kept joining in. \n\n“In May 2018, we released the first version of the Android app. From a single "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"WhatsApp group of 10 participants"}},{"contentType":"text","value":{"data":", Lokal had grown to become a significant player in the hyperlocal ecosystem,” Jani says. \n\nThe founders had visualised Lokal as a local updates platform when it was launched. Hence, it was a simple chronological feed. The first product was a result of a lot of user and market research. \n\nThe simple, single scrollable feed of news and information available in a language users were comfortable with received positive feedback. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“Through our solution, users were not only getting news in vernacular language but also local updates. Users liked our first product primarily for two reasons: it was a convenient solution as it was a single, scrollable feed similar to YouTube to check all the latest content from their location, and they could quickly the latest updates in their language,” Jani says. "}},{"contentType":"text","value":{"formats":{},"data":"Within a year, due to increased demand and user understanding, they added two more hyperlocal use cases: job listings and matrimonial profiles. \n\nAt every product development stage, the team focused on unmet user needs. They would test out new features in smaller areas, in ways that did not disrupt the established user flows. \n\n“Once we were sure, would roll the features out to a wider audience. We believe the speed of developing products is paramount as with more iterations you learn more and create a truly scalable product,” he says. \n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Building the MVP\n"}},{"contentType":"text","value":{"data":"To build the MVP, user understanding and problem statement were crucial to “keep the solution aligned”. \n\n“Our learnings through the process were that you can think of automating after you have addressed the challenge. An example is our moderation of content where every content piece would get moderated manually before it went live. Now, 95 percent of our content is auto-moderated according to our community guidelines,” Jani says. \n\nHe adds Local has two sides: creators and consumers. From the MVP in small regions, the team identified that demand for the product was high but supply would be the key to keeping the demand growing and engaged. \n\nIn the initial phase, the team put a lot of effort into getting the supply right and that is when they identified the need for technology-heavy tools for creators, a moderation process,  and auto-approval. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“We also realised that a simple feed with content won’t work for diverse use cases and problems at the hyperlocal level. As we scaled up, we identified new user needs: jobs, matrimony, and real estate. Thus, we curated an architecture that assured multiple and diverse use cases critical to our growth. At an early stage itself, we recognised that a manual moderation layer would not be able to support the pace of our growth,” Jani says. "}},{"contentType":"text","value":{"formats":{},"data":"This is why the team ensured that they build the product with a user-feedback loop and ironed out any potential gaps in the solution. As use cases increased, they also doubled down on personalising content for the users. \n\n“Staying in touch with the user through on-ground meetings and constantly monitoring reviews and support channels helped us identify the gaps in our product and simultaneously find the next innovative solution,” Jani says. \n\nToday, one can easily map the entire online journey for an urban user, right from accessing banking services to ordering vegetables. \n\nHowever, Jani says non-English users from Tier 2 and beyond locations do not have the same luxury of access. To solve this, Lokal is working towards becoming a one-stop solution for all hyperlocal needs, in your own language. We strive to learn a bit more about the internet consumption behaviour of this segment every day, and plan to keep adding new use cases as we discover more,” he says. \n\nIn June 2019, as Lokal crossed one-year mark, they had a Minimal Viable Product providing updates, jobs, and matrimony to an "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"active user base of 500,000 users across 15 districts of Telangana and Andhra Pradesh. "}},{"contentType":"text","value":{"data":"\n\nLokal became multilingual in January 2020 when it was launched in Tamil Nadu. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“At present, we are a 200+ strong team and the Lokal app has 20 million+ downloads along with a monthly active user base of six million+ users from across 180+ districts in eight states,” Jani says. "}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/d72b5ef09db411ebb4167b901dac470c/Image8wxi-1643285211625.jpg","caption":"\u003cp>\u003cem>Credit: YourStory Design\u003c/em>\u003c/p>"}},{"contentType":"alsoRead","value":{"title":"Bootstrapped startup LokalPe matches blue-collar workers with hyperlocal skill-based jobs","thumbnail":"https://images.yourstory.com/cs/2/dc9aa1302d6c11e9aa979329348d4c3e/3001-1601470330258.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2020/09/startup-lokalpe-blue-collar-workers-hyperlocal-skill-jobs"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Taking on the challenges\n"}},{"contentType":"text","value":{"formats":{},"data":"One of the eureka moments the team had in the process was that no product in India had a creative flow that let users create different types of content like updates, news, classifieds, blogs, etc. The team worked to involve and generate diverse formats of content at the hyperlocal level from users. \n\nLokal encountered several challenges such as lead time for launches, depth vs breadth, and ease of UX, but rallied together to resolve them. \n\n“One of our primary challenges has been reducing the lead time on our state launches. We believe a successful state launch has two critical aspects - translations and optimal supply of content in all use cases. Building systems that would help us quickly expand geographically was a challenge. But with time, we have figured out a playbook to reduce our lead time to less than two weeks with the launch of Lokal in eight states,” Jani says. \n\nWhen it came to overcoming the depth vs breadth problem, the team realised that being a multi-use case product is challenging in the initial building stages. "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Maintaining the balance"}},{"contentType":"text","value":{"formats":{},"data":" - whether to expand on existing use cases or test out newer use cases - was a major challenge. \n\nThe product team took calculated risks backed by user research, data, and undying conviction. Building the systems in configurable ways allowed for quick experimentation. \n\nJani says Lokal has been able to do short experiments like"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" gaming, quizzes, Q&A forums, etc., and build larger use cases like jobs, matrimony, classifieds, and more in a span of less than 1.5 years. "}},{"contentType":"text","value":{"data":"\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“Lastly, discovery and navigation of multiple use cases and differentiated user experience was also a major challenge for us. Since Lokal is based on the premise of user-generated content, it was challenging to build systems for both, creators and consumers, especially with such varied types of content - news, jobs, classifieds, personal wishes, ads, etc,” Jani adds. "}},{"contentType":"text","value":{"formats":{"header":2},"data":"Working on different playbooks\n"}},{"contentType":"text","value":{"formats":{},"data":"Jani says the Lokal team has let go of several inhibitions and belief systems in their journey from idea to product. \n\nEarlier, it was believed that the market they operate in was tough to crack in terms of revenue. As they understood user points and behaviours and built products for them, the startup was able to scale, in terms of revenue and growth. \n\n“Our playbook approach has helped us adapt to user needs in different states along with being agile in our launches, leading to tripling the revenue within the last year. One of the biggest learnings for us has been that building for the next billion users requires significant attention to the user experience,” Jani says. \n\nHe adds that “one cannot simply lift and shift a product from Tier-I cities”; it needs to be localised and made relevant for the target audience. \n\nAn interesting observation is discovering how digital behaviours and interactions have become a daily practice for users. Be it scanning QR codes, making online payments, swiping interactions, online feedback forms, or content creation tools, users are open and curious to adapt to digital products. \n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"The next steps \n"}},{"contentType":"text","value":{"formats":{},"data":"Some of the key innovations the team is working on now are: \n\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Integrating technology into language: "}},{"contentType":"text","value":{"formats":{},"data":"Content optimisation is key for a platform like Lokal, where the team understands and analyses consumer needs and consumption patterns and designs the right content accordingly. Owing to the feature-rich corpus in English, one can get a number of features, models, prebuilt sentences, tagging, post tagging, etc. But to conduct natural language processing in local languages, there is no completely cohesive corpus. This is one of the biggest challenges. \n\nLokal has approximately "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"10,000+ user-generated content pieces "}},{"contentType":"text","value":{"formats":{},"data":"getting added and tagged daily. This involves segmenting a particular content piece in the correct category for a correct location. “This helps in leveraging the content to build technologies so that we can have a significant language corpus. On account of the amount of original content the team receives and generates on the platform, they have the ability and capabilities to build a local language corpus,” Jani says. \n\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Localisation as per use case: "}},{"contentType":"text","value":{"formats":{},"data":"The technology helps to scale at the top level and also personalise the feed for each and every person to receive district-specific content. This format can be replicated across languages, states, and towns. Each and every use case has multiple implications for localisation. For instance, the matrimonial category is not location-bound, and therefore the radius for this service is much larger than a job search. Jobs are localised to a district. All these algorithms are set as per user preference and vertical understanding.\n\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Scaling up for growth: "}},{"contentType":"text","value":{"formats":{},"data":"Lokal has a "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"bottom-up approach."}},{"contentType":"text","value":{"formats":{},"data":" “We launch at one location, get a density of people, follow our use cases, and move on to the next. We require technology to replicate and scale the model. The technology we have built is for scale and customised feeds. As a result, we moved to microarchitecture wherein each and every feed along with every use case is a service in itself,” Jani says. \n\nLokal aims to become a super app, which will work as a "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"one-stop solution for all hyperlocal needs of Tier-II and III non-English speaking users. "}},{"contentType":"text","value":{"data":"\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“While we continue to build on our existing use cases, we are also laying the foundation for the next set of innovative solutions. We function in an ever-changing paradigm and being a multi-use case app, we understand that the one-size-fits-all approach will not work with our diverse user set. This pushes us even further to understand the specific needs of a user and ensure they are able to derive maximum value from our platform,” Jani says. "}},{"contentType":"text","value":{"formats":{},"data":"Personalisation using AI and ML models and extending to each use case will be a major focus area for Lokal. The team also plans to focus on enabling social commerce opportunities for SMBs, by aiding them to offer enhanced customer experience. \n\n“With an exceptional growth rate of active users and district-level penetration in over eight states, Lokal serves as a highly beneficial tool for businesses to acquire, communicate, and advertise in untapped regions.”\n"}}],"timeLapsed":"9th Mar 2022","publishedDate":"March 09, 2022"},{"id":235108,"title":"[Product Roadmap] How Zoomcar brought in technology to create a niche in the car rental segment \r\n","slug":"product-roadmap-niche-car-rental-startup-zoomcar-greg-moran","type":"RICH","subtitle":"In this week’s Product Roadmap, we feature Bengaluru-based car rental startup Zoomcar. In a conversation with YourStory, its co-founder and CEO, Greg Moran, talks about the startup’s use of technology and how it has evolved and grown. ","publishedAt":"2022-03-01T23:50:00.000Z","updatedAt":"2022-03-02T15:04:48.709Z","brand":{"name":"YourStory","slug":"yourstory","locale":"en_GB","path":"/"},"metadata":{"authors":[{"name":"Sindhu Kashyaap","username":"sindhu-kashyap","order":0,"path":"/author/sindhu-kashyap"}],"category":{"id":464,"name":"In Depth","slug":"ys-in-depth","path":"/category/ys-in-depth"},"excerpt":"In this week’s Product Roadmap, we feature Bengaluru-based car rental startup Zoomcar. In a conversation with YourStory, its co-founder and CEO, Greg Moran, talks about the startup’s use of technology and how it has evolved and grown. ","media":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/GregMoran-1646104436067.jpeg","thumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/GregMoran-1646104436067.jpeg","defaultThumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/GregMoran-1646104436067.jpeg","brandSpotlight":null,"removeAds":null,"curatedCategories":[],"sponsoredStory":null,"isRegistrationRequired":false,"timeToRead":10,"articleTopics":[],"richArticleTopics":[{"id":"991ecc3e-663e-11eb-b571-b76e0f3e580d","slug":"startup-journeys---future-roadmaps","name":"Startup Journeys / Future Roadmaps","type":"RICH-ARTICLE-TOPIC","order":0}],"tags":[{"name":"Product Roadmap","slug":"product-roadmap","order":0,"path":"/tag/product-roadmap"},{"name":"Zoomcar","slug":"zoomcar","order":1,"path":"/tag/zoomcar"},{"name":"Car Rental","slug":"car-rental","order":2,"path":"/tag/car-rental"}]},"snippets":null,"trailers":null,"path":"/2022/03/product-roadmap-niche-car-rental-startup-zoomcar-greg-moran","featured":true,"mobilePostJson":[{"contentType":"text","value":{"formats":{},"data":"Greg Moran and David Back, fellow students at the University of Pennsylvania, came to India from the US with the aim of starting a business and arrived at the idea for India’s first car rental startup, "}},{"contentType":"companyWidget","value":{"id":"0e0bfc90-fb89-11eb-a856-33da6c14d2d5","name":"Zoomcar","slug":"zoomcar","logo":{"height":399,"width":399,"imageKey":"cs/images/companies/Zoomcar-1633436471353.jpg","url":"https://images.yourstory.com/cs/images/companies/Zoomcar-1633436471353.jpg"},"subtitle":"Zoomcar is a self-drive car rental company headquartered in Bangalore.","foundingDate":"2012-04-01","companyURL":"https://yourstory.com/companies/zoomcar","companyCoreTeam":[{"name":"Greg Moran"},{"name":"David Back"}],"sectors":[{"name":"Mobility / Transportation","slug":"mobility-transportation"},{"name":"Services","slug":"services"}]}},{"contentType":"text","value":{"formats":{},"data":". Like for any startup across the globe, Greg and David came up with the idea of founding a car rental startup in India in 2015. "}},{"contentType":"text","value":{"formats":{},"data":"\n\n"}},{"contentType":"text","value":{"formats":{},"data":"Today, Greg is the CEO and sole co-founder on board with David no longer a part of the company. "}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"\u003cb>“I have always been passionate about sustainability and a shared model for sustainable economic development. While working in the clean technology and infrastructure disciplines for an investment bank, I witnessed first-hand the opportunities that existed in working for environmentally sustainable solutions in India. Exploring it further revealed the challenges in urban transportation, especially the lack of infrastructure that can cushion the hike in personal vehicles,” says Greg. \u003c/b>"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/f08163002d6c11e9aa979329348d4c3e/ZoomcarGreg1568808770396png","caption":"\u003cp>\u003cspan style=\"color: rgb(170, 170, 170);\">Greg Moran, Co-founder and CEO, Zoomcar\u003c/span>\u003c/p>"}},{"contentType":"text","value":{"formats":{},"data":"Realising the absence of a self-drive model in the market, Greg spearheaded the launch of Zoomcar.  The startup has seen a steady rise in demand for cars for personal work and emergency use cases. Greg explains the team has witnessed a 2x jump in short term rentals compared to the same period last year, and the startup has also seen a 100 percent recovery from the end of October 2021. "}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{},"data":"\nHowever, COVID-19 did change the dynamics of the economy and every industry has had to adapt itself to the new normal. The car rental industry, to that end, has been. well-equipped and prepared to serve its customers. There is an exponential spike in demand expected for car subscriptions, especially considering the current recession, and under the circumstances, car rental subscriptions can prove to be a better option than ride-hailing. The model is also seen as a more affordable and quicker way of acquiring a car, delivering a safe personal mobility replacement. "}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"\u003cb>In further proof of how popular the model is, Zoomcar recently launched in Southeast Asia and the Middle East/North Africa (MENA) MENA regions. The startup realised that Indonesia, the Philippines, Vietnam, Egypt and Saudi Arabia also have very low levels of vehicle ownership but large, upwardly mobile populations that prefer to opt for car rentals.\u003c/b> "}},{"contentType":"text","value":{"formats":{},"data":"In a conversation with "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"YourStory,"}},{"contentType":"text","value":{"formats":{},"data":" Greg explains more about the fascinating tech journey of the startup, and how it acquired the distinction of being a tech-led company. "}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{"italic":true},"data":"YourStory"}},{"contentType":"text","value":{"formats":{"header":3},"data":" (YS): From a pureplay car rental company to a tech-led company, tell us about Zoomcar’s growth and evolution?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Greg Moran (GM):"}},{"contentType":"text","value":{"formats":{},"data":" Zoomcar launched India’s first car-sharing platform in 2013, and is the dominant market leader in the car-sharing ecosystem today with approximately 10,000 cars on its platform and a presence across Southeast Asia and the MENA region. Zoomcar allows individuals to rent from a diverse pool of cars by the hour or by the day.  "}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Headquartered in Bangalore India, Zoomcar employs over 300 people and operates in over 50 cities. In 2020, Zoomcar launched Zoomcar Mobility Services, an enterprise SaaS-based mobility solution offering white-labelled subscription services and IoT-based driver behaviour monitoring solutions. "}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"alsoRead","value":{"title":"[Product Roadmap] How this former YouTube exec used tech to build an interactive English learning app \r\n","thumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/OckyPocky-1643718705655.jpeg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/02/product-roadmap-edtech-startup-language-learning-app-ocky-pocky"}},{"contentType":"text","value":{"formats":{"header":3},"data":"YS: How exactly does the technology work? What are the problems it solves? Growth numbers, initial days, and evolution?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"GM:"}},{"contentType":"text","value":{"formats":{},"data":" A car is an important asset to us and tracking its location and health is a business necessity. We have built an intelligent tool called"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" Cadabra "}},{"contentType":"text","value":{"formats":{},"data":"that tracks important data about the car in real-time. Cadabra tracks the distance travelled, fuel used, clutch performance, etc. and helps car owners or drivers keep tabs on important performance metrics like clutch position, harsh braking, inconsistent acceleration, seat belt usage and engine health, among others. "}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{},"data":"\nEquipped with Bluetooth and 4G connectivity, Cadabra receives OTA updates and also connects with emergency services in case of on-road accidents. With this monitoring system, Zoomcar ensures driver safety by sending speeding alerts or any rash driving activity. The alert system is voice-activated and embedded in the audio system, and plays the warning “you need to slow down your speed, over speeding is dangerous.” "}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"\u003cb>The real-time collision detection system inside the car monitors the possibility of collision. If you are about to collide at high speed, it alerts the driver about the momentum. We have data insights on the fuel requirement of the car. With the AI system, we analyse the refill time and suggest the nearest fuel pumps. This feature helped us gain trust while micro-managing customer challenges and maintaining a hassle-free driving experience. \u003c/b>"}},{"contentType":"text","value":{"formats":{},"data":"As the journey nears completion, Zoomcar analyses the current geolocation, distance and time required to reach the drop location of the car. The advantage of a device like this is that it can be customised for each car as is required for the business. "}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{},"data":"\nZoomcar monitors and generates data every second to understand driving patterns — whether the driver is speeding, applying hard brakes or driving rashly. We realised that Indian drivers are more aggressive on the road with rental cars and are prone to drive rashly. "}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{},"data":"\nTo manage this customer nature, we developed a system known as Driver Score powered by AI. It identifies critical events of driving and rates it on a scale of 0-100. The scoring system has capabilities to give real-time feedback to drivers in the advent of rash driving to help them adjust their behaviour accordingly. "}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{},"data":"\nWithin the first month of its launch, the driver score has successfully reduced the accident rate by 20 percent, and maintenance and servicing cost by 25 percent for Zoomcar. The data generated from the vehicle movement helps us to understand driver behaviour. With real-time monitoring, we have alerts for the driver which help customers get control over the car at the right time and prevent accidents. "}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/9aed5fa0c8be11e9a36aeb06ee850db6/Image2k7p-1587724052471.jpg"}},{"contentType":"text","value":{"formats":{"header":3},"data":"YS: Tell us about Zoom Driver Behaviour Intelligence? What was the first product (app) like? How did you build it? (How did you get the necessary human resources and technological tools initially?) How much time did it take? (To make the first prototype) \n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"GM:"}},{"contentType":"text","value":{"formats":{},"data":" ZMS Driver Behaviour Intelligence was conceptualised to harness the IoT expertise Zoomcar has developed from the very beginning of its consumer-facing business. "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"We realised it was important for the safety of our customers to continually assist them in real-time while they were driving. The app took inputs from phone and vehicle sensors and communicated clearly to the driver on behaviour patterns, alerting them constantly. "}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{},"data":"\nAs a result, along with our customers’ safety, we also managed to reduce accidents, harsh events, service and maintenance costs and benefited from increased mileage of the vehicles. Our product and development teams continuously work on enhancing customer experience at every stage, and the Driver Behaviour Intelligence is a major step towards ensuring not only safer roads but better asset utilisation as well. The first prototype of the Driver Behaviour Intelligence was a result of over 2 billion km of data and 6 million customer transactions on our platform, which enabled the teams to achieve highly accurate algorithms while calculating harsh events and driving scores."}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"alsoRead","value":{"title":"[Product Roadmap] How this Shark Tank startup brings analytics, Moneyball, data to kabaddi \r\n","thumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/NewLogoforimagesEditorialTeamMaster-1644336662634.jpeg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/02/product-roadmap-shark-tank-startup-sports-tech-kabaddi-adda"}},{"contentType":"text","value":{"formats":{"header":3},"data":"YS: What were the core factors you kept in mind to build a scalable MVP and what were your learnings from it that led to the evolution of the product? How long did this run for?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"GM:"}},{"contentType":"text","value":{"formats":{},"data":" The core factors for a scalable MVP for this product were very clear to us as we were the first users of this app. Tracking driving behaviour in a very non-intrusive way without the use of expensive OBDs was our priority, followed by accuracy in driving behaviour data. The first product was implemented in 2017, in the Zoomcar marketplace for customers who were opting for short-term rentals. "}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{},"data":"\nIt was a great add-on for the users to understand how they were driving, and it gamified the entire experience by introducing leaderboards of the best drivers in the city and the country as well. Today, we are witnessing a connected vehicle ecosystem where it's essential to not only inform a customer but to also engage and interact with them. "}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{},"data":"\nThrough various in-built gamification algorithms, we not only keep the customers motivated but also use it as feedback to continuously improve the product. Today, there are different industries in the mobility domain like insurance companies, fleet operators, leasing companies etc. who we are working with to implement this product in their ecosystems."}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{"header":3},"data":"YS: How did you come across some great growth hacks that complemented the scaling of tech?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"GM: "}},{"contentType":"text","value":{"formats":{},"data":"The only growth hack we had to aid to scale this tech was our database collected over the past nine years. Around 2 billion km and 6 million transactions on our platform provided us with a variety of driving behaviours across geographies and cities to continuously improve on the accuracy of the driving score and make it as robust as it is today."}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{"header":3},"data":"YS: What were the challenges while building the system? It must have been a challenge to add more components on top, while subsequently ensuring that you had to manage scale as well. Did you have to let go of any legacy beliefs and systems? \n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"GM:"}},{"contentType":"text","value":{"formats":{},"data":" We actually had a lot of fun building the product and getting it to its primal form today. There were definitely challenges on various fronts like keeping the user engaged, working on real-time alerts to the driver and capturing the trips in a contextual manner (in-city roads or highways, car driving or bike riding etc), but our legacy of being a market leader in shared mobility helped us tremendously in ensuring that we were able to quickly build and test various functionalities of the app. "}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{},"data":"\nThe massive amount of driving data definitely aided in ensuring that we were not starting from scratch on each of these fronts, and had a good head start owing to our shared mobility ecosystem."}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{"header":3},"data":"YS: What are the other interesting/innovative technological solutions you found in the process?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"GM:"}},{"contentType":"text","value":{"formats":{},"data":" Zoomcar is a dominant market leader in the shared mobility ecosystem today with an 80 percent market share in self-drive rental space. While we are working on various solutions to continuously improve the customer experience and customer journey, we have developed many interesting solutions and today Zoomcar Mobility Services is a separate B2B enterprise solution vertical of Zoomcar offering 10+ products in the space of subscription, rental, insurance, leasing, fleet and IoT."}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"alsoRead","value":{"title":"[Product Roadmap] How Frontier Markets integrated tech to empower over 500,000 rural families ","thumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/FinalFrontiermarkets-1645587968812.jpeg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/02/product-roadmap-frontier-markets-tech-empower-rural-families-startup"}},{"contentType":"text","value":{"formats":{"header":3},"data":"YS: Tell us about the future plans and innovations you are looking at?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"GM: "}},{"contentType":"text","value":{"formats":{},"data":"Zoomcar has recently launched India’s first car-sharing marketplace – a vehicle host programme that will enable individual vehicle owners to list their cars on Zoomcar and earn a revenue share on each booking rental. India currently possesses one of the lowest private car utilisation rates in the world and through our host programme, we seek to transform this idle vehicle capacity to create better utilisation. "}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{},"data":"\nAt scale, we expect this programme to dramatically reduce on-road congestion and urban air pollution. Our mission is to democratise car access across the world’s high growth urban centres. "}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{},"data":"\nIndia will remain our largest market for the indefinite future. The new host programme is just another example of our commitment to creating localised solutions for urban mobility challenges in India. As a platform, our primary problem statement is that we want to have as much supply in the marketplace and have as much diverse vehicle choices as possible. With the vehicle host programme, we will get significantly more supply of cars, which would result in more transaction volume and more users. We are investing heavily in international growth, IT, and tech infrastructure.\n"}}],"timeLapsed":"2nd Mar 2022","publishedDate":"March 02, 2022","editorsPickTitle":"[Product Roadmap] How Zoomcar created a niche in the car rental segment","editorsPickSubtitle":"In this week’s Product Roadmap, we feature car rental startup Zoomcar, where CEO Greg Moran talks about the startup’s use of technology and how it has evolved.","editorsPickStartTime":"2022-03-02T03:30:00.000Z","editorsPickEndTime":"2022-03-02T06:30:00.000Z"},{"id":234439,"title":"[Product Roadmap] How Frontier Markets integrated tech to empower over 500,000 rural families ","slug":"product-roadmap-frontier-markets-tech-empower-rural-families-startup","type":"RICH","subtitle":"In this week’s product roadmap, we feature last-mile rural distribution startup Frontier Markets that is creating a livelihood for rural women by building a network that manages all point-of-sale transactions. \r\n","publishedAt":"2022-02-23T04:08:46.381Z","updatedAt":"2022-02-23T15:45:01.528Z","brand":{"name":"YourStory","slug":"yourstory","locale":"en_GB","path":"/"},"metadata":{"authors":[{"name":"Sindhu Kashyaap","username":"sindhu-kashyap","order":0,"path":"/author/sindhu-kashyap"}],"category":{"id":464,"name":"In Depth","slug":"ys-in-depth","path":"/category/ys-in-depth"},"excerpt":"In this week’s product roadmap, we feature last-mile rural distribution startup Frontier Markets that is creating a livelihood for rural women by building a network that manages all point-of-sale transactions. \n","media":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/Fronteirmarkets-1645587907406.jpeg","thumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/FinalFrontiermarkets-1645587968812.jpeg","defaultThumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/FinalFrontiermarkets-1645587968812.jpeg","brandSpotlight":null,"removeAds":null,"curatedCategories":[],"sponsoredStory":null,"isRegistrationRequired":false,"timeToRead":9,"articleTopics":[],"richArticleTopics":[{"id":"991ecc3e-663e-11eb-b571-b76e0f3e580d","slug":"startup-journeys---future-roadmaps","name":"Startup Journeys / Future Roadmaps","type":"RICH-ARTICLE-TOPIC","order":0}],"tags":[{"name":"Product Roadmap","slug":"product-roadmap","order":0,"path":"/tag/product-roadmap"},{"name":"Frontier markets","slug":"frontier-markets","order":1,"path":"/tag/frontier-markets"},{"name":"rural women","slug":"rural-women","order":2,"path":"/tag/rural-women"}]},"snippets":null,"trailers":null,"path":"/2022/02/product-roadmap-frontier-markets-tech-empower-rural-families-startup","featured":true,"mobilePostJson":[{"contentType":"text","value":{"formats":{},"data":"Working in the microfinance sector in her early days, "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Ajaita Shah"}},{"contentType":"text","value":{"formats":{},"data":" was exposed to challenges faced by rural communities, especially women, when it came to accessing basic infrastructure, quality solutions, and means to address poverty – from electrification, telecom, and clean water to basic deliveries. \n\nShe worked with over 5,000 villages across the country at that time, and these challenges inspired her to work on addressing social business, gender empowerment, and believing that every rural family should be treated as a dignified customer, with the right to access quality solutions. \n\nTo create awareness about quality solutions, access to quality durables, trust, product-fit, and local livelihood, Ajaita set up"}},{"contentType":"companyConnect","value":{"id":"28f24400-92e3-11ec-a2f0-89625d3a4351","slug":"frontier-markets","name":"Frontier Markets"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" "}},{"contentType":"companyWidget","value":{"id":"28f24400-92e3-11ec-a2f0-89625d3a4351","name":"Frontier Markets","slug":"frontier-markets","logo":{"height":300,"width":300,"imageKey":"cs/images/companies/2331655914321621302352697377681267725226625n-1645426953205.jpg","url":"https://images.yourstory.com/cs/images/companies/2331655914321621302352697377681267725226625n-1645426953205.jpg"},"subtitle":"Frontier Markets is a Jaipur-based rural distribution startup.","foundingDate":"2011-01-01","companyURL":"https://yourstory.com/companies/frontier-markets","companyCoreTeam":[{"name":"Ajaita Shah"}],"sectors":[{"name":"E-Commerce","slug":"e-commerce"},{"name":"Retail","slug":"retail"},{"name":"Software","slug":"software"},{"name":"Services","slug":"services"}]}},{"contentType":"text","value":{"formats":{"bold":true},"data":" "}},{"contentType":"text","value":{"formats":{},"data":"in Jaipur"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" in 2011."}},{"contentType":"text","value":{"data":"\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“We aim to broaden rural communities’ access to high impact products and services through a consumer-centric platform by integrating ecommerce and local distribution supply chain. As clean energy was a real need in rural areas at that time, Frontier Markets began by bringing products such as solar torches and lanterns from last-mile distribution points,” says Ajaita. "}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/FrontierMarketsSahelis-1645588027315.jpeg","caption":"\u003cp>The Frontier Markets Sahelis \u003c/p>"}},{"contentType":"alsoRead","value":{"title":"[Product Roadmap] How this Shark Tank startup brings analytics, Moneyball, data to kabaddi \r\n","thumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/NewLogoforimagesEditorialTeamMaster-1644336662634.jpeg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/02/product-roadmap-shark-tank-startup-sports-tech-kabaddi-adda"}},{"contentType":"text","value":{"formats":{"header":2},"data":"What does the platform do?\n"}},{"contentType":"text","value":{"formats":{},"data":"The "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"last-mile rural distribution startup"}},{"contentType":"text","value":{"formats":{},"data":" has built a platform that allows it to "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"digitally manage all point-of-sale (PoS) transactions,"}},{"contentType":"text","value":{"formats":{},"data":" interface with its value chain partners, and track deliveries in real-time. \n\nThe hybrid platform creates a phygital store driven by women, called "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Sahelis"}},{"contentType":"text","value":{"data":", connecting customers to all kinds of solutions and data collection. Through the platform, Sahelis help facilitate adoption of ecommerce for rural households, while capturing valuable customer insights.\n\nFrontier Markets recruits, trains, and provides digital access to Sahelis who earn income through data collection and sales. With every order placed, Sahelis are able to earn a commission. The designed program is suited for rural women - with flexible hours and zero mobility. \n"}},{"contentType":"companyConnect","value":{"id":"28f24400-92e3-11ec-a2f0-89625d3a4351","slug":"frontier-markets","name":"Frontier Markets"}},{"contentType":"blockquote","value":{"formats":{},"data":"“The platform has also developed a robust information management system that tracks consumer demand, spending patterns, market mapping, and penetration through the Saheli network on a household level,” explains Ajaita. "}},{"contentType":"text","value":{"data":"Frontier Markets' mobile app allows Sahelis and branch staff to create and view their regular schedules, create and update order information, view training modules, as well as receive notifications on orders, events, and other activities. \n\nThe user interface is designed and made in Hindi language and is voice-enabled for customer-friendly experience. The application was designed in consultation with the Sahelis, where they told what they really wanted. The app is built with easy-to-use technology and processes with AI-assisted bots. The application includes various features like data collection, work management, and browsing products with AI assistance. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“With the help of Sahelis, FM captures key metrics like - Who is the customer? What do they do? What do they need? Which Product? What is the value proposition? Spending ability? When would they want it? Who else would buy it?,” adds Ajaita. "}},{"contentType":"text","value":{"formats":{},"data":"The company follows an agile software development methodology to build the solution using short iterations, so that the development process is aligned with the changing business needs. It is a mix of mobile app (for field level users) and web (for branch/HO level users). \n\nAjaita says, “Frontier Markets is driving access to quality and affordable products and services to rural customers (primarily women) in India by leveraging a strong network of rural women entrepreneurs called "}},{"contentType":"companyConnect","value":{"id":"28f24400-92e3-11ec-a2f0-89625d3a4351","slug":"frontier-markets","name":"Frontier Markets"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Saral Jeevan Sahelis"}},{"contentType":"text","value":{"formats":{},"data":", who are using their assisted ecommerce platform called \"Meri Saheli app\" to facilitate sales and doorstep deliveries in their villages. Today, 12,500+ Sahelis have helped over 500,000 rural families adopt 7+ million solutions.”\n"}},{"contentType":"alsoRead","value":{"title":"[Product Roadmap] How this former YouTube exec used tech to build an interactive English learning app \r\n","thumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/OckyPocky-1643718705655.jpeg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/02/product-roadmap-edtech-startup-language-learning-app-ocky-pocky"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Selling green energy products \n"}},{"contentType":"text","value":{"formats":{},"data":"Being a hybrid online/offline assisted commerce platform, the startup has developed an integrated business model, with an aim to "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"broaden rural communities’ access to high quality products and services"}},{"contentType":"text","value":{"data":" through a women-centric supply chain network. \n\nStarting as a solar/green energy product selling company in 2011, Frontier Markets revamped its business with tech innovations and gender centric business approach. \n"}},{"contentType":"companyConnect","value":{"id":"28f24400-92e3-11ec-a2f0-89625d3a4351","slug":"frontier-markets","name":"Frontier Markets"}},{"contentType":"blockquote","value":{"formats":{},"data":"To date, the company has sold over seven million solutions to rural customers, ranging across verticals, including consumer durables, agri-products, home appliances, FMCG, fintech services, and others. "}},{"contentType":"text","value":{"formats":{},"data":"By selling 1.5 million units of homecare and electrical products, 715k units of agri products and tools, 46k units of appliances and smartphones in 2021, FM claims to have sold $40 million worth of goods and services in calendar year 2021. \n\n“In 2011, Frontier Markets started as a solar/clean energy product selling company. In 2015, a third-party audit was conducted to examine the social impact of the venture. This audit turned out to be an eye-opener. It was found out that 70 percent of Frontier Markets’ 80,000-odd customers were women,” explains Ajaita. \n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"The pivots \n"}},{"contentType":"text","value":{"formats":{},"data":"Ajaita says, when they asked their customers about their experience using the products, most of them informed that it was either their wife, mother, daughter, or sister using them. The insight gave birth to the concept of Saheli, and from 2015, Frontier Markets turned into an organisation led by a women sales force. This was the first pivot.\n\n“The second pivot came the next year when Frontier Markets reduced its dependence on imports. Most of the solar products were of Chinese origin. The company decided to rope in Indian makers and gave them consumer insights to make customised products. The demonetisation in November 2016 pushed the company to move towards a digital avatar. In 2017, mobile application “Meri Saheli” was launched. Sahelis were armed with smartphones and taught a digital way of transaction. From 2018, more products and services were added in the application,” adds Ajaita. \n\nIn 2020, when the pandemic took over the world, the company widened its product portfolio that rural customers asked for. Today, Sahelis are digitally savvy, and all the transactions are through digital payments, including phone recharge and paying utility bills.\n"}},{"contentType":"companyConnect","value":{"id":"28f24400-92e3-11ec-a2f0-89625d3a4351","slug":"frontier-markets","name":"Frontier Markets"}},{"contentType":"blockquote","value":{"formats":{},"data":"\u003cb>“For example, during the lockdowns, the company collaborated with multiple brands and started monthly door-step delivery of cattle feed with annual subscriptions,” says Ajaita. \u003c/b>"}},{"contentType":"alsoRead","value":{"title":"[Product Roadmap] How Qwipo uses technology to help over 7,000 retailers connect with prime vendors ","thumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/ProductRoadmap-1643114808851.jpeg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/01/product-roadmap-b2bmarketplace-qwipo-technology-retailers-startup-logistics"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Building the product with Sahelis \n"}},{"contentType":"text","value":{"formats":{},"data":"Ajaita says, the minimum viable product (MVP) was also co-designed with the Sahelis. Every icon, element, color schemes, words/phrases, and walk-through was designed in consultation with them. \n\n“The initial UI was kept extremely simple and intuitive. At the same time, it was also essential to help not-so-literate Sahelis navigate through the app seamlessly. They needed assistance while adding a lead or placing orders. This is when Frontier Markets introduced a voice assistant AI Bot that helped Sahelis navigate through the app easily. The entire tech is built on the AWS platform, which provides all the initial tools. It took roughly five months to do the research, creating wireframes, prototyping, UAT testing, and going live,” says Ajaita. \n\nThe MVP continued for almost a year before we shifted to the new UI. This was done to make it more user and navigation friendly. \n\n“Frontier Markets always co-designs with rural women entrepreneurs and its customers. It meant deep diving on user journeys with Sahelis, understanding how the app can mirror real life practices in terms of navigation. Gradually, the Sahelis started becoming more comfortable using the app. Also, with the increasing number of products in FM’s portfolio, it was important to show some additional features for these products and services. This gave rise to the second version of the app, which was much better in design and navigation. At the same time, improvements in Voice Assisted Bot language, UX, and features were made,” explains Ajaita. \n\nWith the scale up and more Sahelis getting added to the network, the backend architecture needed a shift so that it becomes scalable (ready to onboard unlimited no. of users and customers), secure, and efficient. This led to a modern, API-first and cloud-native architecture, which is now live.\n\nAll this was possible because FM has both physical and digital interventions to get real time feedback from the Sahelis. The company has a call centre in Jaipur, which is responsible for tracking digital usage via its CRM, answering questions from Sahelis about the technology, and getting real-time product feedback and feature ideas. \n"}},{"contentType":"companyConnect","value":{"id":"28f24400-92e3-11ec-a2f0-89625d3a4351","slug":"frontier-markets","name":"Frontier Markets"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Building the core tech \n"}},{"contentType":"text","value":{"formats":{},"data":"“To create such a technology and bring this in the hands of rural women entrepreneurs, FM needed a strong tech team to work directly with these communities,” says Ajaita. \n\nThis meant a team experienced in user research, back-end programming, UI/UX design, mobile app development, and quality assurance, and led by a strong CTO, Sr. Product Manager, and Project manager - all supported by an experienced architect. \n\nThe startup followed a four stage process -- define, design, develop, and deploy – in consultation with the Sahelis.  \n\nHowever, being a woman entrepreneur and setting up this kind of company was really challenging for Ajaita. Frontier Markets was started at a time when last-mile distribution was not a preferred area of investment in India. The company was able to attract impact investors, but even impact investors at the end of the day were never big fundraisers or big valuation people. \n"}},{"contentType":"companyConnect","value":{"id":"28f24400-92e3-11ec-a2f0-89625d3a4351","slug":"frontier-markets","name":"Frontier Markets"}},{"contentType":"alsoRead","value":{"title":"[Product Roadmap] How focus on technology helped Namaste Credit serve over 25,000 SMEs in 6 years","thumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/GauravAnandNamasteCredit-1641904739862.jpeg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/01/product-roadmap-focus-tech-fintech-namaste-credit"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Product evolution and future \n"}},{"contentType":"text","value":{"data":"For Frontier Markets, data has always been the backbone for coming out with the right product at the right price for the right customer. \n\nCapturing and accessing accurate data daily through Sahelis led to better product decisions and customer satisfaction, and more importantly, it helped increase wealth opportunity for rural women entrepreneurs, says the founder. Access to real time data is only possible because of the technology and innovation of the business model. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“At Frontier Markets, we’re building the future of rural India, giving rural customers the dignity and opportunities they deserve to create better lives. Our goal is to become the voice of rural women, driven by women,” says Ajaita. "}},{"contentType":"text","value":{"formats":{},"data":"“We aim to become the largest rural commerce platform in the country, onboarding 500K Sahelis with 50 million rural customers, becoming $10 billion+ company in transactions - scaling innovative solutions in climate, financial services, agriculture, healthcare, and education. Gearing to become the first social commerce unicorn in India, the company is raising its Series B of $20 million to accelerate and ramp up to the next 100K Sahelis in less than 18 months now,” says Ajaita. \n"}},{"contentType":"companyConnect","value":{"id":"28f24400-92e3-11ec-a2f0-89625d3a4351","slug":"frontier-markets","name":"Frontier Markets"}},{"contentType":"companyConnect","value":{"id":"28f24400-92e3-11ec-a2f0-89625d3a4351","slug":"frontier-markets","name":"Frontier Markets"}}],"timeLapsed":"23rd Feb 2022","publishedDate":"February 23, 2022","editorsPickTitle":"How Frontier Markets integrated tech to empower over 500,000 rural families","editorsPickSubtitle":"In this week’s product roadmap, we feature last-mile rural distribution startup Frontier Markets that is creating a livelihood for rural women.","editorsPickStartTime":"2022-02-23T03:30:00.000Z","editorsPickEndTime":"2022-02-23T06:30:00.000Z"},{"id":234063,"title":"Future of work: Work from home, office, or hybrid?","slug":"hybrid-office-work-from-home-coronavirus-pandemic","type":"RICH","subtitle":"When the coronavirus pandemic forced us to take our offices home, many saw the benefits of remote working. Two years since, what is the future of work?","publishedAt":"2022-02-21T00:25:00.000Z","updatedAt":"2022-03-22T13:46:49.330Z","brand":{"name":"YourStory","slug":"yourstory","locale":"en_GB","path":"/"},"metadata":{"authors":[{"name":"Sindhu Kashyaap","username":"sindhu-kashyap","order":0,"path":"/author/sindhu-kashyap"}],"category":{"id":464,"name":"In Depth","slug":"ys-in-depth","path":"/category/ys-in-depth"},"excerpt":"When the coronavirus pandemic forced us to take our offices home, many saw the benefits of remote working. Two years since, what is the future of work?","media":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/HybridWorking-01-1645205070411.png","thumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/HybridWorking-01-1645205070411.png","defaultThumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/HybridWorking-01-1645205070411.png","brandSpotlight":null,"removeAds":null,"curatedCategories":[],"sponsoredStory":null,"isRegistrationRequired":false,"timeToRead":6,"articleTopics":[],"richArticleTopics":[{"id":"991ecc30-663e-11eb-b571-b76e0f3e580d","slug":"ecosystem-insights","name":"Ecosystem Insights","type":"RICH-ARTICLE-TOPIC","order":0}],"tags":[{"name":"hybrid","slug":"hybrid","order":0,"path":"/tag/hybrid"},{"name":"work from home","slug":"work-from-home","order":1,"path":"/tag/work-from-home"},{"name":"Future of Work","slug":"future-of-work","order":2,"path":"/tag/future-of-work"},{"name":"COVID-19","slug":"covid-19","order":3,"path":"/tag/covid-19"},{"name":"coronavirus","slug":"coronavirus","order":4,"path":"/tag/coronavirus"},{"name":"Pandemic","slug":"pandemic","order":5,"path":"/tag/pandemic"}]},"snippets":null,"trailers":null,"path":"/2022/02/hybrid-office-work-from-home-coronavirus-pandemic","featured":true,"mobilePostJson":[{"contentType":"text","value":{"data":"Working from home was a luxury — and an anomaly — before the pandemic. When coronavirus forced office goers around the world to work from home, there was a lot of debate around how it will impact productivity, creativity, and ultimately, work.\n\nEventually, as remote working became the norm, several benefits started to emerge — flexibility, cost and time savings on commuting, etc. This also led to a rise in “borderless hiring”, making it easier to find talent without any geographical constraints. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"However, working from home also created challenges around finding a work-life balance, leading to a rise in burnout among corporate employees, an acute lack of social interaction, and for some, distractions and a lack of discipline."}},{"contentType":"text","value":{"formats":{},"data":"Almost two years since, the debate persists, especially as some companies are finding ways to get back to the office. \n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/HybridWorking-02-1645205131879.png","caption":"\u003cp>Image credit: Daisy\u003c/p>"}},{"contentType":"alsoRead","value":{"title":"[Techie Tuesday] Hailing from a small town in Tamil Nadu, how AlphaSense’s Raj Neervannan went on to redefine search algorithms ","thumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/TechieTuesday-1644842726905.jpeg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/02/techie-tuesday-hailing-from-a-small-town-in-tamil-nadu-alphasense-cto-search-engine-algorithms"}},{"contentType":"text","value":{}},{"contentType":"blockquote","value":{"formats":{},"data":"While some companies are seeking to fully revert to the pre-pandemic office setup, others are open to the possibility of continuing working from anywhere. Then, there are some that are seeking the best of both worlds — a hybrid system. "}},{"contentType":"text","value":{"formats":{},"data":"For instance, social commerce unicorn "}},{"contentType":"companyWidget","value":{"id":"27c16490-0b7b-11ea-b25f-75aa51c831e6","name":"Meesho","slug":"meesho","logo":{"height":417,"width":417,"imageKey":"cs/images/companies/logosC2111575977824543png","url":"https://images.yourstory.com/cs/images/companies/logosC2111575977824543png"},"subtitle":"Meesho is a social commerce platform that undertakes retail distribution, enabling small retail merchants to connect and sell their products effectively via social media channels.","foundingDate":"2015-12-01","companyURL":"https://yourstory.com/companies/meesho","companyCoreTeam":[{"name":"Vidit Aatrey"},{"name":"Sanjeev Barnwal"},{"name":"Jatin Mazalcar"}],"sectors":[{"name":"E-Commerce","slug":"e-commerce"},{"name":"Marketplace","slug":"marketplace"}]}},{"contentType":"text","value":{"formats":{},"data":" announced a ‘work from anywhere’ policy, adding that employees who wished to come to the office have the option to work in its multiple satellite offices. \n\nIn fact, Meesho has announced a first-of-its-kind Boundaryless Workplace Model where employees have the power to choose to work from home, the office, or any other location of their choice.\n\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Ashish Kumar Singh, Chief Human Resources Officer, Meesho"}},{"contentType":"text","value":{"formats":{},"data":", said, “We have been championing many industry-first initiatives that have redefined conventional workplace norms and this new policy is a step in that direction. We have studied multiple future of work models to arrive at this novel boundaryless approach. In the future, this will also give talent across the globe an opportunity to build for Bharat with Meesho.”\n\nHowever, not everyone is convinced about this borderless style.\n\nA startup founder, who did not wish to be named, tells "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"YourStory"}},{"contentType":"text","value":{"data":", “It is hard to build empathy in a remote working scenario. Especially in people who have been around for a while now and people who recently joined.” \n\nThe HR head of a unicorn adds that hybrid seems like the ideal choice. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"They say, “Culture for any organisation ensures growth and consistent productivity. Without that, larger organisational goals and KRAs suffer. It is difficult to bring a balance and create stronger interpersonal relationships without meeting one another. Online and zoom conversations do not bring in the right connectivity and connections.”"}},{"contentType":"alsoRead","value":{"title":"Try these 7 best practices to recruit and onboard a hybrid workforce\n\n","thumbnail":"https://images.yourstory.com/cs/2/f02aced0d86311e98e0865c1f0fe59a2/hybrid-workforce-1633592745689.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2021/10/best-practices-recruit-onboard-hybrid-workforce"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Out of sight means out of mind \n"}},{"contentType":"text","value":{"formats":{},"data":"Another HR executive told "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"YourStory "}},{"contentType":"text","value":{"data":"that onboarding and getting people entrenched into a new job remotely is harder. \n\n“When you hire someone, it is about what you sell to them about the vision, brand, and organisational need [of the company]. And while during the interview, you can bring out the base of the product and vision, the whole part of being part of a team and feeling a mission gets lost remotely,” said another founder. \n\nAccording to an HBR report, “Remote onboarding can be particularly difficult for people who are fairly new to the working world and transitioning from school to a job; they don’t get the opportunity to just see how work works. In general, new employees who work remotely are likely to find it harder to get things done — if you can’t watch what people are doing and if others can’t notice when you’re struggling, then everything about the job has to be taught more explicitly.”\n\nThis means interactions with colleagues becomes harder in a remote working environment. The report added that the longer you are separated from your colleagues, the farther you move away from the overall sense of the [business] mission. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“In order to ensure that your organisation retains elements of its culture that you value, it’s important to engage frequently with your coworkers to stay aligned about your core values. Your interactions with the newest hires are particularly important. They’ll learn a lot both from their conversations with you as well their observations,” said the report."}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/f02aced0d86311e98e0865c1f0fe59a2/millenial-workforce-1630417930926.png"}},{"contentType":"alsoRead","value":{"title":"Hybrid, remote, or in-office: What is the best way forward for employers?\n\n","thumbnail":"https://images.yourstory.com/cs/2/f02aced0d86311e98e0865c1f0fe59a2/work-model-1638171427427.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2021/11/hybrid-remote-office-best-way-forward"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Making collaboration tougher\n"}},{"contentType":"text","value":{"formats":{},"data":"The more you stay away from work and continue to work remotely, the harder it gets for collaborative work, some say. \n\nRecently, Kunal Shah, Founder and CEO of "}},{"contentType":"companyWidget","value":{"id":"c919ab50-0ac1-11ea-b9b0-7b3f0fc9524f","name":"CRED","slug":"cred","logo":{"height":417,"width":417,"imageKey":"cs/images/companies/logosC2031575978376942png","url":"https://images.yourstory.com/cs/images/companies/logosC2031575978376942png"},"subtitle":"Cred offers rewards for paying credit card bills on time.","foundingDate":"2018-04-01","companyURL":"https://yourstory.com/companies/cred","companyCoreTeam":[{"name":"Kunal shah"},{"name":"Rahul Harkisanka"}],"sectors":[{"name":"Financial Services","slug":"financial-services"},{"name":"FinTech","slug":"fintech"}]}},{"contentType":"text","value":{"formats":{},"data":", "}},{"contentType":"text","value":{"formats":{"link":"https://twitter.com/kunalb11/status/1490277027584241664"},"data":"tweeted"}},{"contentType":"text","value":{"formats":{},"data":", “Impact of WFH on youth is the same as the impact of children who study at home.” \n"}},{"contentType":"tweet","value":{"id":"1490277027584241664","url":"https://twitter.com/kunalb11/status/1490277027584241664"}},{"contentType":"text","value":{}},{"contentType":"blockquote","value":{"formats":{},"data":"One of the founders \u003cem>YourStory\u003c/em> spoke to agreed. “The movement of institutional knowledge becomes more difficult. It hinders the culture of informal conversations. When you look at people around you, you get to understand how they behave, how they react, and how they perceive and interact with the world around them,” they added. "}},{"contentType":"text","value":{"formats":{},"data":"Further, looking at one another helps one understand the subtleties of body language, emotion, and other soft understandings that is simply not possible on Zoom. \n\n“It opens up opportunities for serendipity and helps move projects, brainstorming sessions. These cannot be scheduled over a call. These brainstorming sessions cannot be scheduled and broken down,” explains another HR executive.\n"}},{"contentType":"alsoRead","value":{"title":"With over $7B pumped into Indian startups in 2021 alone, what does it mean to have Tiger Global as an investor ","thumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/TigetGlobal-01-1643881159356.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/02/with-over-7b-pumped-into-indian-startups-in-2021-alone-what-does-it-mean-to-have-tiger-global-as-investor"}},{"contentType":"text","value":{"formats":{"header":2},"data":"In favour of working from home\n"}},{"contentType":"text","value":{"formats":{},"data":"However, despite the difficulties, many people don’t believe working from home is a disadvantage. \n\n\"People don't progress at the office by doing a mundane job. They progress by finding new exciting alternatives,\" "}},{"contentType":"text","value":{"formats":{"link":"https://twitter.com/simplykashif/status/1490277849797857282"},"data":"tweeted Kashif Raza, Founder of Bitinning"}},{"contentType":"text","value":{"data":".\n\nOne of the biggest benefits of working from home is the elimination of commute. Several reports point out that Indians travel close to two hours in a day to and from work. \n\n“Not only does the travel make it tiring, but also kills work-life balance,” says an employee of a unicorn on the condition of anonymity.\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"Another HR Executive adds it isn't about the freedom and the challenge of commuting; it also opens avenues for hiring across different parts of the country and the globe. “Earlier applications and jobs for those living in Tier II and III India weren't that open. Many large corporations wouldn’t look beyond the metros. But the pandemic has broken those notions and boundaries,” they explain.  "}},{"contentType":"text","value":{"data":"Another startup founder added that WFH has given more options in terms of hiring people with different skill sets and expertise levels. \n\n“It has created a thriving and flourishing gig economy, where people with good skill sets have found their worth and like working on different projects. And this works fantastically for high growth companies that are looking at multiple projects and experiments,” said the founder. \n\nMany realised that while it took time to adjust, working from home eventually brought in a better work-life balance. But, despite compelling reasons to work from home, organisations are looking at a more hybrid format.\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“Getting people back to work is going to be a challenge. 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A cheerleader for her team and for other leaders at "}},{"contentType":"companyWidget","value":{"id":"10501c60-d9ac-11eb-a0c0-e7ee16cf70a2","name":"Infosys","slug":"infosys","logo":{"height":767,"width":767,"imageKey":"cs/images/companies/106713296101637647643204817752686091122400611n-1634196673259.png","url":"https://images.yourstory.com/cs/images/companies/106713296101637647643204817752686091122400611n-1634196673259.png"},"subtitle":"Infosys Limited is an Indian multinational information technology company that provides business consulting, information technology and outsourcing services.","foundingDate":"1981-01-01","companyURL":"https://yourstory.com/companies/infosys","companyCoreTeam":[{"name":"Salil Parekh"},{"name":"Narayana Murthy"},{"name":"Nandan Nilekani"},{"name":"Kris Gopalakrishnan"},{"name":"S.D. Shibulal"},{"name":"K. Dinesh"},{"name":"N.S. 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"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Over the years, she realised the importance of embracing and celebrating one’s uniqueness."}},{"contentType":"text","value":{"formats":{},"data":"\n\nY"}},{"contentType":"text","value":{"formats":{"italic":true},"data":"ourStory "}},{"contentType":"text","value":{"formats":{},"data":"caught up with the changemaker to know more about her milestones, learnings, and what has shaped her personality, under its "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"‘I am the future’ "}},{"contentType":"text","value":{"formats":{},"data":"series that spotlights dynamic and successful women leaders at Infosys.\n"}},{"contentType":"youtube","value":{"id":"9XYMY2yOC2U&feature=youtu.be"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Learning to be independent\n"}},{"contentType":"text","value":{"formats":{},"data":"Growing up with “strict” parents, Arti remembers how they motivated her and her siblings to break boundaries and find their own way..\n\nArti took up a job at 19 to make her “own money”, while she was still pursuing her graduation. Getting a taste of financial independence right then, she began investing in diverse channels. This early introduction to financial independence enabled her to buy a house when she was only 27.\n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"From misfit to a two decade-long corporate career \n"}},{"contentType":"text","value":{"formats":{},"data":"As the “only” girl growing up in a family full of boys, Arti was quite influenced by them and considers them to be her strongest allies till date. She regarded herself as a “misfit” back then because she could neither fit in with the boys or the girls. Several life experiences helped Arti to understand the true meaning of diversity and inclusion, one that she is using even today, as she interacts with diverse teams and business leaders, as part of the growing ecosystem.\n\nFrom being a rebel, she transitioned into a field that is focused on connecting with people. Arti ventured into the corporate field in the early 2000s, and worked with reputed names such as Convergys, Sapient, and Symantec, before starting her journey with Infosys. “It was an easy choice to make,” says Arti, adding that it fit right in with her career aspirations.\n\n“It's very important in my work to understand the business and build relationships. One of the things that I love is the passion and legacy in the system, and the drive and ambition of the organisation. 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Adopting a “I will figure it out” approach, she climbed the ladder fast, but decided to “pause and re-prioritise her goals” due to an emotionally challenging phase in her life.\n\n“To slow down my speed was one of my biggest challenges,” she shares, adding that it’s important for individuals to understand the value of realigning their energies and bounce back to perform in a better and effective way. Arti also reiterates the importance of building an ecosystem of allies including men and women and asking for help.\n\nOver the years, Arti has realised that health is one of the most crucial aspects of one’s overall wellbeing and investing time in her personal well-being is a key priority.\n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Creating an ecosystem of mentors\n"}},{"contentType":"text","value":{"formats":{},"data":"If she had to go back and do something differently, Arti would have told herself, “don’t wait for people to give you a mentor”. A strong advocate of organisations nurturing and training individuals to become mentors, Arti says, “But before anything, it is essential to understand your aspirations. Mentors can help you create a plan, which is in tune with your current thoughts. "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"I genuinely believe if each one of us raises our hand to be a mentor, there would be enough people who would be available to be mentors"}},{"contentType":"text","value":{"formats":{},"data":",” adding that mentoring only fails when it is not attached to an outcome.\n\nIn the absence of mentors, one can also create “a personal board of directors”, as Arti mentions. “They can include your current manager, leaders in the organisation, and those who always have your back,” she concludes with an endearing smile.\n"}}],"timeLapsed":"8th Apr 2022","publishedDate":"April 08, 2022"},{"id":239994,"title":"‘Failure is an option’: 14 inspirational quotes by Tesla and SpaceX CEO Elon Musk","slug":"inspirational-quotes-tesla-spacex-elon-musk-motivation","type":"RICH","subtitle":"YourStory brings motivational and powerful quotes from the world’s wealthiest person Elon 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Musk\n","media":"https://images.yourstory.com/cs/7/4c455a90a21411e98b07315772315642/ElonMusk-1597935699783.png","thumbnail":"https://images.yourstory.com/cs/7/4c455a90a21411e98b07315772315642/ElonMusk-1597935699783.png","defaultThumbnail":"https://images.yourstory.com/cs/7/4c455a90a21411e98b07315772315642/ElonMusk-1597935699783.png","brandSpotlight":null,"removeAds":null,"curatedCategories":[],"sponsoredStory":null,"isRegistrationRequired":false,"timeToRead":3,"articleTopics":[],"richArticleTopics":[{"id":"991ecc33-663e-11eb-b571-b76e0f3e580d","slug":"general-news","name":"General News","type":"RICH-ARTICLE-TOPIC","order":0}],"tags":[{"name":"Elon Musk","slug":"elon-musk","order":0,"path":"/tag/elon-musk"},{"name":"twitter","slug":"twitter","order":1,"path":"/tag/twitter"},{"name":"Shareholders","slug":"shareholders","order":2,"path":"/tag/shareholders"},{"name":"motivational quotes","slug":"motivational-quotes","order":3,"path":"/tag/motivational-quotes"},{"name":"inspirational 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a business magnate, investor, and entrepreneur, and is well-known for his viral tweets.\n\nAccording to the "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Bloomberg Billionaires Index"}},{"contentType":"text","value":{"formats":{},"data":" and "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Forbes real-time billionaires list"}},{"contentType":"text","value":{"formats":{},"data":", Musk is the wealthiest person in the world, with an estimated "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"net worth of around $270 billion as of March 2022."}},{"contentType":"text","value":{"data":"\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"The entrepreneur recently bought a 9.2 percent stake in the social media platform Twitter, making him the platform's largest individual shareholder. He will join the board of Twitter as a director. "}},{"contentType":"text","value":{"formats":{},"data":"One of the most"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" successful entrepreneurs"}},{"contentType":"text","value":{"formats":{},"data":", "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Elon Musk"}},{"contentType":"text","value":{"formats":{},"data":" built his companies from scratch and through hard work, passion, and determination. He is an inspiration to many young entrepreneurs and individuals due to his creativity, and innovative ideas to make the world a better place. \n\n"}},{"contentType":"text","value":{"formats":{"bold":true,"italic":true},"data":"Here are some of Elon Musk’s inspirational and motivational quotes to encourage entrepreneurs."}},{"contentType":"text","value":{"formats":{},"data":"\n\n“Work like hell. I mean you just have to put in 80 to 100 hour weeks every week. [This] improves the odds of success. If other people are putting in 40 hour workweeks and you’re putting in 100 hour workweeks, then even if you’re doing the same thing, you know that you will achieve in four months what it takes them a year to achieve.”\n"}},{"contentType":"alsoRead","value":{"title":"‘Increase the size of the cake’: 11 quotes by billionaire banker Uday Kotak for budding entrepreneurs","thumbnail":"https://images.yourstory.com/cs/2/a09f22505c6411ea9c48a10bad99c62f/Image3vco-1648659993633.jpg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/03/quotes-billionaire-uday-kotak-richest-banker-budding-entrepreneurs"}},{"contentType":"text","value":{"data":"“If you get up in the morning and think the future is going to be better, it is a bright day. Otherwise, it’s not.”\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“Being an entrepreneur is like eating glass and staring into the abyss of death.”"}},{"contentType":"text","value":{"data":"“Failure is an option here. If things are not failing, you are not innovating enough.”\n\n“Persistence is very important. You should not give up unless you are forced to give up.”\n\n“Really pay attention to negative feedback and solicit it, particularly from friends. … Hardly anyone does that, and it’s incredibly helpful.”\n\n“What makes innovative thinking happen?… I think it’s really a mindset. You have to decide.”\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“If you’re trying to create a company, it’s like baking a cake. You have to have all the ingredients in the right proportion.”"}},{"contentType":"text","value":{"data":"“You have to be pretty driven to make it happen. Otherwise, you will just make yourself miserable.”\n\n“Take risks now and do something bold. You won’t regret it.”\n\n“When you struggle with a problem, that's when you understand it.”\n\n“Constantly seek criticism. A well thought out critique of what you're doing is as valuable as gold.”\n\n“If you want to grow a giant redwood, you need to make sure the seeds are ok, nurture the sapling, and work out what might potentially stop it from growing all the way along. Anything that breaks it at any point stops that growth.”\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“It’s very important to like the people you work with, otherwise life [and]your job is gonna be quite miserable.”"}},{"contentType":"text","value":{"formats":{},"data":"“If you need inspiring words, don’t do it.”\n"}}],"timeLapsed":"8th Apr 2022","publishedDate":"April 08, 2022"},{"id":239966,"title":"Upskilling, learning, and creating a strong peer network are key to a successful career: Asha Kurup of Infosys ","slug":"infosys-asha-kurup-upskilling-learning-creating-strong-peer-network-successful-career","type":"RICH","subtitle":"Decoding her professional journey, Asha Kurup, Client Partner, Infosys shares lessons on effective leadership and establishing meaningful goals to achieve work-life balance.","publishedAt":"2022-04-06T13:49:44.953Z","updatedAt":"2022-04-07T05:36:31.728Z","brand":{"name":"YourStory","slug":"yourstory","locale":"en_GB","path":"/"},"metadata":{"authors":[{"name":"Varnika Gupta","username":"varnika-gupta","order":0,"path":"/author/varnika-gupta"},{"name":"Geetika Sachdev","username":"geetikasachdev","order":1,"path":"/author/geetikasachdev"}],"category":{"id":1104,"name":"Inspiration","slug":"inspiration","path":"/category/inspiration"},"excerpt":"“True leadership is about building a successful team and making a lasting impact,” says Asha Kurup, Client Partner, Infosys, in ‘I am the future series’. ","media":"https://images.yourstory.com/cs/2/2d86ed30b28211e8b2e7114aea10c711/Imager1f4-1649252435976.jpg","thumbnail":"https://images.yourstory.com/cs/2/2d86ed30b28211e8b2e7114aea10c711/Imager1f4-1649252435976.jpg","defaultThumbnail":"https://images.yourstory.com/cs/2/2d86ed30b28211e8b2e7114aea10c711/Imager1f4-1649252435976.jpg","brandSpotlight":{"name":"Infosys","slug":"infosys","thumbnail":"https://images.yourstory.com/cs/images/brandSpotlight/Untitleddesign-2022-03-08T001055-1646678469041.png"},"removeAds":true,"curatedCategories":[],"sponsoredStory":true,"isRegistrationRequired":false,"timeToRead":4,"articleTopics":[],"richArticleTopics":[{"id":"991ecc36-663e-11eb-b571-b76e0f3e580d","slug":"inspiring-stories","name":"Inspiring stories","type":"RICH-ARTICLE-TOPIC","order":0}],"tags":[{"name":"Infosys","slug":"infosys","order":0,"path":"/tag/infosys"},{"name":"career success","slug":"career-success","order":1,"path":"/tag/career-success"},{"name":"women empowerment","slug":"women-empowerment","order":2,"path":"/tag/women-empowerment"},{"name":"inpsiration","slug":"inpsiration","order":3,"path":"/tag/inpsiration"},{"name":"Expert Opinion","slug":"expert-opinion","order":4,"path":"/tag/expert-opinion"}]},"snippets":null,"trailers":null,"path":"/2022/04/infosys-asha-kurup-upskilling-learning-creating-strong-peer-network-successful-career","featured":false,"mobilePostJson":[{"contentType":"text","value":{"formats":{"bold":true},"data":"True leadership, according to Asha Kurup, Client Partner, "}},{"contentType":"companyWidget","value":{"id":"10501c60-d9ac-11eb-a0c0-e7ee16cf70a2","name":"Infosys","slug":"infosys","logo":{"height":767,"width":767,"imageKey":"cs/images/companies/106713296101637647643204817752686091122400611n-1634196673259.png","url":"https://images.yourstory.com/cs/images/companies/106713296101637647643204817752686091122400611n-1634196673259.png"},"subtitle":"Infosys Limited is an Indian multinational information technology company that provides business consulting, information technology and outsourcing services.","foundingDate":"1981-01-01","companyURL":"https://yourstory.com/companies/infosys","companyCoreTeam":[{"name":"Salil Parekh"},{"name":"Narayana Murthy"},{"name":"Nandan Nilekani"},{"name":"Kris Gopalakrishnan"},{"name":"S.D. 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From a Program Analyst in Cognizant in Chennai to handling mergers and acquisitions in an international oil and gas company in Singapore, to acing a corporate role in Trivandrum, and finally landing her current client interfacing role in the United States – Asha has donned multiple hats.\n\nPositive, persistent and approachable in nature, Asha pays a lot of value to constant investment in personal development and staying relevant in the fast evolving world. “Focusing on overall wellbeing is very important for success. I aim to reduce stress at work and improve my work-life balance,” she adds.\n\nShe credits her strong work ethic, constant zeal for learning, support of her family, inspiring leaders, and a strong peer group to her success. YourStory caught up with Asha to know more about her milestones, learnings, and life hacks under its "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"‘I am the future’"}},{"contentType":"text","value":{"formats":{},"data":" series that spotlights dynamic and successful women leaders at Infosys.\n"}},{"contentType":"youtube","value":{"id":"V9jvT68S-Y4"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Influences and learnings\n"}},{"contentType":"text","value":{"data":"“My father was my greatest inspiration,” says Asha. She pursued engineering because she wanted to follow in her father’s footsteps. Moreover, her mother always wanted her to become financially independent. All of this coupled with her own interest in networking and problem solving made her opt for IT. “I was also fascinated by the evolution of this industry and how it provided a great platform for continued learning and promoting innovation,” says Asha.\n\nIt is this passion for innovation and problem solving that has been keeping her glued to her job at Infosys for the past 18 years.\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“Infosys’ value system – focusing on creativity and innovation – is a huge motivation for me. It also provides a good platform for continuous learning,” adds Asha."}},{"contentType":"text","value":{"formats":{},"data":"For Asha, Infosys has always been her dream company. After working in Singapore for five years, she had to return to her hometown in Trivandrum due to her father’s illness. This was around the same time when Infosys had started a development centre there, and Asha got an opportunity to be a part of the company. “It was a fresh start,” she says, adding how Infosys offered her several opportunities for networking, gaining visibility, and building a strong professional foundation.\n"}},{"contentType":"alsoRead","value":{"title":"Why Infosys’ Padma Bhamidipati believes it takes an army of people to achieve your dreams","thumbnail":"https://images.yourstory.com/cs/2/2d86ed30b28211e8b2e7114aea10c711/Imagets40-1648809167417.jpg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/04/infosys-padma-bhamidipati-people-achieve-dreams"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Lessons on leadership\n"}},{"contentType":"text","value":{"formats":{},"data":"Asha learned and evolved her leadership skills at Infosys. For her, the early part of her career was about building trust with her stakeholders, providing attention to detail, and having a strong work ethic. When she joined Infosys, she learned that true leadership is about building a successful team and ensuring you take your team along at every step of the way.\n\nHer corporate role also exposed her to the importance of developing listening skills, good communication skills, as well as the importance of integrity, persistence, and providing a diverse perspective in the work culture.\n\n“I had to lead the effort to drive the evangelisation of an initiative for my unit and this role gave me a unique opportunity to work very closely with some great leaders in the company,” she explains.\n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Advice for the young generation \n"}},{"contentType":"text","value":{"formats":{},"data":"Growing up in a family where women were on an equal footing with men, Asha’s understanding of gender disparity, equity and inclusion developed only after she joined the workforce herself.\n\nAt times when she found herself at the receiving end of unconscious bias by her manager, Asha decided to address the issue head-on and presented data points on her performance to navigate the situation successfully. She believes that up and coming professionals and leaders need to build awareness around pertinent issues such as unconscious bias, equal opportunity for career advancement, and pay parity.\n\nAsha also speaks about the importance of upskilling, stepping out of the comfort zone to take up challenging assignments, and creating a strong peer network as important elements for ensuring sustainable success.\n\n“My father’s sudden demise created a void in my life, and I soon realised that I did not build a proper work-life balance. At that point in my life, I understood the importance of setting boundaries. I took a step back to rethink my priorities and restructured my milestones. I started setting smaller goals for myself,” says Asha, adding that aspiring professionals must have good clarity on what they really want and be ready to take a calculated risk and set meaningful goals for themselves.\n"}}],"timeLapsed":"6th Apr 2022","publishedDate":"April 06, 2022"},{"id":239311,"title":"Why Infosys’ Padma Bhamidipati believes it takes an army of people to achieve your dreams","slug":"infosys-padma-bhamidipati-people-achieve-dreams","type":"RICH","subtitle":"A “grateful, persistent, emotional, and feisty” Padma Bhamidipati illustrates pivotal moments from her two-decade long journey at Infosys, punctuated with opportunities and learnings.","publishedAt":"2022-04-01T10:51:35.144Z","updatedAt":"2022-04-01T11:25:43.928Z","brand":{"name":"YourStory","slug":"yourstory","locale":"en_GB","path":"/"},"metadata":{"authors":[{"name":"Varnika Gupta","username":"varnika-gupta","order":0,"path":"/author/varnika-gupta"},{"name":"Geetika Sachdev","username":"geetikasachdev","order":1,"path":"/author/geetikasachdev"}],"category":{"id":1104,"name":"Inspiration","slug":"inspiration","path":"/category/inspiration"},"excerpt":"Padma Bhamidipati, Senior Business Manager, and Learning Engagement – Education, Training & Assessment, Infosys shares her leadership and success mantras in the ‘I am the future’ series. ","media":"https://images.yourstory.com/cs/2/2d86ed30b28211e8b2e7114aea10c711/Imagets40-1648809167417.jpg","thumbnail":"https://images.yourstory.com/cs/2/2d86ed30b28211e8b2e7114aea10c711/Imagets40-1648809167417.jpg","defaultThumbnail":"https://images.yourstory.com/cs/2/2d86ed30b28211e8b2e7114aea10c711/Imagets40-1648809167417.jpg","brandSpotlight":{"name":"Infosys","slug":"infosys","thumbnail":"https://images.yourstory.com/cs/images/brandSpotlight/Untitleddesign-2022-03-08T001055-1646678469041.png"},"removeAds":true,"curatedCategories":[],"sponsoredStory":true,"isRegistrationRequired":false,"timeToRead":5,"articleTopics":[],"richArticleTopics":[{"id":"991ecc36-663e-11eb-b571-b76e0f3e580d","slug":"inspiring-stories","name":"Inspiring stories","type":"RICH-ARTICLE-TOPIC","order":0}],"tags":[{"name":"Infosys","slug":"infosys","order":0,"path":"/tag/infosys"},{"name":"women empowerment","slug":"women-empowerment","order":1,"path":"/tag/women-empowerment"},{"name":"working women","slug":"working-women-","order":2,"path":"/tag/working-women-"},{"name":"inspiring stories","slug":"inspiring-stories","order":3,"path":"/tag/inspiring-stories"}]},"snippets":null,"trailers":null,"path":"/2022/04/infosys-padma-bhamidipati-people-achieve-dreams","featured":false,"mobilePostJson":[{"contentType":"text","value":{"formats":{},"data":"“Embrace new opportunities that come your way and make the best use of them,” says"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" Padma Bhamidipati, Senior Business Manager – Learning – Education, Training & Assessment, "}},{"contentType":"companyWidget","value":{"id":"10501c60-d9ac-11eb-a0c0-e7ee16cf70a2","name":"Infosys","slug":"infosys","logo":{"height":767,"width":767,"imageKey":"cs/images/companies/106713296101637647643204817752686091122400611n-1634196673259.png","url":"https://images.yourstory.com/cs/images/companies/106713296101637647643204817752686091122400611n-1634196673259.png"},"subtitle":"Infosys Limited is an Indian multinational information technology company that provides business consulting, information technology and outsourcing services.","foundingDate":"1981-01-01","companyURL":"https://yourstory.com/companies/infosys","companyCoreTeam":[{"name":"Salil Parekh"},{"name":"Narayana Murthy"},{"name":"Nandan Nilekani"},{"name":"Kris Gopalakrishnan"},{"name":"S.D. Shibulal"},{"name":"K. Dinesh"},{"name":"N.S. Raghavan"},{"name":"Ashok Arora"}],"sectors":[{"name":"Software","slug":"software"},{"name":"Services","slug":"services"}]}},{"contentType":"text","value":{"formats":{"bold":true},"data":"."}},{"contentType":"text","value":{"formats":{},"data":" “Grateful” for all the opportunities she has received and the support system she has had, Padma shares the milestones and key learnings from her professional and personal experiences while participating in "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"YourStory’s"}},{"contentType":"text","value":{"formats":{},"data":" ‘I am the future’ series.\n\nIn a career spanning over two decades, Padma attributes her wholesome success to her family, colleagues, and managers.\n"}},{"contentType":"youtube","value":{"id":"mHTNb77Bfi8"}},{"contentType":"alsoRead","value":{"title":"Infosys’ Sharmistha Adhya on diversity, inclusion, polarisation, and factors crucial for women to achieve success in the workforce","thumbnail":"https://images.yourstory.com/cs/2/2d86ed30b28211e8b2e7114aea10c711/SharmisthaAdhya800x400-1648217545549.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/03/infosys-sharmistha-adhya-crucial-factors-women-achieve-success"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Learning begins at home\n"}},{"contentType":"text","value":{"formats":{},"data":"Growing up in a gender agnostic set-up, Padma is thankful to her parents for providing her with a stimulating environment during her formative years. Calling her mother – a teacher by profession – her biggest influence and sharpest critic, she recalls how her mother always had the best of education and she ensured the same for Padma. She shares an incident when she froze on stage during a school play and her “action-oriented” mother immediately enrolled her in public speaking classes and gave her weekly speech writing assignments. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"\u003cb>“From freezing on stage in 1987 to being an active emcee at Infosys, I had the singular privilege of hosting important events such as the farewells of legendary Sudha Murthy, U B Praveen Roa, Infosys Foundation Awards … these have been important elements of my journey,” adds Padma. \u003c/b>"}},{"contentType":"text","value":{"formats":{},"data":"Her peculiar interest in branding and marketing – courtesy her mother who would create scrapbooks – led her to pursue marketing and entrepreneurship as her main subjects.\n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"An enabling support system\n"}},{"contentType":"text","value":{"formats":{},"data":"The role of Padma’s maternal and paternal grandparents in empowering her mother to enjoy a break-free, long-standing career left a lasting impression on her.\n\nDrawing parallels with a saree, she explains how the garment has been of great significance in her life as she saw her mother donning it daily. For Padma, the saree not only became a symbol of grace and simplicity but also “the fine balancing act” her mother was striving by rotating her set of sarees confidently in a manner that nobody could take notice of her limited collection.\n\n“My support system begins with my parents, especially my mother, who took care of my elder child until he turned three years old. My late father-in-law who always pushed me to chase my dreams … my husband who has always worked around my schedules, travels and has encouraged me to push my boundaries, and my sons who have been a pillar of support,” she shares, highlighting how her family members continue to strike a balance between their multiple responsibilities.\n\nPadma applies the same philosophy at work too. Being expressive and vocal are her go-to mantras, and she feels it's essential to have clarity on what you want and asking for help wherever you need it.\n\n“Most of the time people say it takes a village to raise a child. "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"What we all forget is it takes a village to continue to help someone achieve their dreams."}},{"contentType":"text","value":{"formats":{},"data":" I personally don't believe in this concept of a self-made person. [To achieve sustainable success] You need to have an army of people, always with you, whether it is your colleague, your manager, or your support system at home,’’ says Padma.\n"}},{"contentType":"alsoRead","value":{"title":"Connecting passion with a purpose, Infosys’ Preeti Jalla Razdan focuses on building role models and women leaders","thumbnail":"https://images.yourstory.com/cs/2/2d86ed30b28211e8b2e7114aea10c711/Imagej0bo-1648554849395.jpg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/03/infosys-preeti-jalla-razdan-building-role-models-women-leaders"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Journey rife with opportunities and learnings\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"One of the highlights of Padma’s career has been featuring in the Netflix series ‘Bill NYE Saves The World’."}},{"contentType":"text","value":{"formats":{},"data":" “It still gives me goosebumps to be a ‘non-tech person’ and be featured in a segment about Infosys that spoke about how population control education of women is so important to take a society forward,” she adds.\n\nEquating her experience at Infosys to the feeling of “unwrapping a gift”, Padma speaks about how the company has let her build on her strengths. “Infosys lets you be you,” says Padma, highlighting how the ecosystem comes together to support colleagues during their time of failures.\n\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"“"}},{"contentType":"text","value":{"formats":{},"data":"They are so magnanimous, whether it is in giving you opportunities or your space. In 2009, I had to take a call of going slow in my career, and I had the support of my managers. They encouraged me to continue to be in the workforce but enabled me to slow down for some time without the pressure of feeling guilty about it,” she shares.\n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Empowering the next generation\n"}},{"contentType":"text","value":{"formats":{},"data":"Padma’s understanding of diversity and inclusion became clear after joining the workforce when the gender diversity gap was quite apparent. "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"“It is important that everyone gets a seat at the table,”"}},{"contentType":"text","value":{"formats":{},"data":" she adds, reiterating that every individual, irrespective of their gender and position, needs to strive to create a diverse and inclusive environment. “I do acknowledge and understand that I am raising two boys and they need to take these conversations and actions forward,” adds Padma.\n\nPadma insists that it is important to have absolute trust in your dreams for the universe to come together to help you achieve them. "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"“Always acknowledge that everyone brings something unique to the table and keep yourself open to learning."}},{"contentType":"text","value":{"formats":{},"data":" Keep looking around for role models and do something to make you proud, and as Mr Murthy says, have a clear conscience when you hit the pillow at night” says Padma, signing off.\n"}},{"contentType":"divider","value":{}},{"contentType":"text","value":{"formats":{},"data":"\n\n"}}],"timeLapsed":"1st Apr 2022","publishedDate":"April 01, 2022"}]},{"title":"Companies","subtitle":"Companies to check out today","dataAttribute":"company","clickCTA":"/companies","containerType":"CompaniesSection","dataAPI":"/api/v2/company/editorspick?limit=5&format=minimal","discoverPath":"/search","colSize":5,"data":[{"id":"c7614eb0-1aa2-11ec-8124-59fbd0c2c689","name":"Lujobox","slug":"lujobox","subtitle":"Lujobox is offering Luxury Beauty Subscription Box for women in 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Knowledge Summit, we share more expert insights on metaverse ecosystems and trends.","media":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Meta1-1649669963579.jpg","thumbnail":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Meta1-1649669963579.jpg","defaultThumbnail":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Meta1-1649669963579.jpg","brandSpotlight":null,"removeAds":null,"curatedCategories":[],"sponsoredStory":null,"isRegistrationRequired":false,"timeToRead":5,"articleTopics":[],"richArticleTopics":[{"id":"991ecc30-663e-11eb-b571-b76e0f3e580d","slug":"ecosystem-insights","name":"Ecosystem Insights","type":"RICH-ARTICLE-TOPIC","order":0}],"tags":[{"name":"CII","slug":"CII-","order":0,"path":"/tag/CII-"},{"name":"zeba khan","slug":"zeba-khan","order":1,"path":"/tag/zeba-khan"},{"name":"xenvis 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Enterprise applications.","foundingDate":null,"companyURL":"https://yourstory.com/companies/xenvis","companyCoreTeam":[{"name":"Zeba Khan"}],"sectors":[{"name":"Education","slug":"education"},{"name":"Enterprise Tech","slug":"enterprise-tech"},{"name":"Manufacturing","slug":"manufacturing"},{"name":"Retail","slug":"retail"},{"name":"Security","slug":"security"},{"name":"Services","slug":"services"},{"name":"HealthTech / MedTech / Healthcare","slug":"healthtech-medtech-healthcare"}]}},{"contentType":"text","value":{"formats":{"bold":true},"data":" "}},{"contentType":"text","value":{"formats":{},"data":"Solutions, a startup offering visualisation solutions across automotive, energy, education and healthcare sectors. This includes "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"AR and VR "}},{"contentType":"text","value":{"formats":{},"data":"for use cases such as remote assistance, digital workflows, training, and upskilling. She was earlier Technical Director at Meher Advanced Materials, and is a graduate of PES University.\n\nZeba is also speaking at CII’s upcoming annual "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Global Knowledge Summit."}},{"contentType":"text","value":{"formats":{},"data":" The 17th edition of the summit will be held in a hybrid format in Bengaluru and online on April 12-13, with the theme of "}},{"contentType":"text","value":{"formats":{"link":"https://ciiknowledgesummit.in/","italic":true},"data":"Knowledge Management and the Metaverse."}},{"contentType":"text","value":{"data":"\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"As media partner for the Global Knowledge Summit, see \u003cem>YourStory’s\u003c/em> preview article of the 2022 edition \u003ca href=\"https://yourstory.com/2022/03/cii-knowledge-management-metaverse-derick-jose/\">here,\u003c/a> and coverage of the editions from \u003ca href=\"https://yourstory.com/2021/04/remote-learning-knowledge-cii\">2021,\u003c/a> \u003ca href=\"https://yourstory.com/2020/07/cii-knowledge-skills-relevant-disruption\">2020\u003c/a> and \u003ca href=\"https://yourstory.com/2019/02/digital-transformation-cii-knowledge-summit\">2019.\u003c/a> "}},{"contentType":"text","value":{"formats":{},"data":"In this chat with "}},{"contentType":"text","value":{"formats":{"bold":true,"italic":true},"data":"YourStory"}},{"contentType":"text","value":{"formats":{},"data":", Zeba talks about immersive media, metaverse trends, and the India opportunity.\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/CII-1-1649670117689.png"}},{"contentType":"text","value":{"formats":{"italic":true},"data":"Edited excerpts of the interview:"}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{"bold":true,"italic":true},"data":"YourStory "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[YS]: "}},{"contentType":"text","value":{"formats":{"header":3},"data":"Immersive media and blockchain have been around for a while – what is new about the metaverse concept? How would you demystify the hype and misconceptions around it?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Zeba Khan [ZK]:"}},{"contentType":"text","value":{"formats":{},"data":" Immersive media allows viewers to experience digital content more interactively, and as the name suggests – in a more “immersive” way. For example, instead of just viewing a video, immersive media provides an "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"environment "}},{"contentType":"text","value":{"formats":{},"data":"which viewers can step into and interact with the content.\n\nA "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"blockchain"}},{"contentType":"text","value":{"formats":{},"data":" is a decentralised public immutable ledger of transactions across a network. Simply put, it is a system of recording information in a way that makes it almost impossible to alter or delete.\n\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"The metaverse is a more comprehensive and complex concept."}},{"contentType":"text","value":{"data":" It can be imagined as a simulated digital world that uses multiple technologies such as Extended Reality (XR), AI and blockchain, along with immersive media, social media, remote collaboration, and gaming concepts. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"Together, they create virtual experiences where users can interact and transact with each other in real-time as they would in the physical world. It is a shared persistent digital world and interoperable with the real physical world."}},{"contentType":"text","value":{"formats":{},"data":"The Metaverse is still an evolving concept. Organisations have their own vision of what it can be and how it will be used. What is clear is that it will be a "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"new internet experience "}},{"contentType":"text","value":{"formats":{},"data":"where we can create our digital avatars, remotely meet people, visit other locations, socialise, attend events, collaborate, learn, and share knowledge like never before.\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/IMG2137-1649678221040.jpg","caption":"\u003cp>Zeba Khan, Xenvis Solutions\u003c/p>"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[YS]: "}},{"contentType":"text","value":{"formats":{"header":3},"data":"In the context of organisational learning and knowledge assets, what contributions does the metaverse make?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[ZK]:"}},{"contentType":"text","value":{"formats":{},"data":" Knowledge assets will become more diverse and accessible in the Metaverse. Knowledge creation, management and transfer will be more organised, transparent and secure. \n\nAssets that are limited to text, images and videos typically viewed in 2D formats will become more "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"visually representative,"}},{"contentType":"text","value":{"formats":{},"data":" real-time and three dimensional in the Metaverse. \n"}},{"contentType":"alsoRead","value":{"title":"Key highlights from YourStory's The Metaverse Summit - India's first Web3 conference","thumbnail":"https://images.yourstory.com/cs/121/98e25df018b511e988ceff9061f4e5e7/Generic-image-21-1648279309457.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/the-decrypting-story/yourstory-metaverse-summit-highlights-web3-conference"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[YS]: "}},{"contentType":"text","value":{"formats":{"header":3},"data":"What are the most innovative applications you have seen in the metaverse?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[ZK]:"}},{"contentType":"text","value":{"formats":{},"data":" Here are some of the most innovative Metaverse applications I’ve come across.\n\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"1. Metaverse concerts. "}},{"contentType":"text","value":{"formats":{},"data":"Artists can perform from any location and the audience can be part of the experience from any other location in the world. Metaverse concert-goers can create their digital avatars and enjoy the concert as an immersive experience, interact with other people and purchase digital merchandise. Concerts in the Metaverse will be more immersive and creative since there are no physical limitations. The same concept can be extended to live sports events and re-imagining of iconic moments in history.\n\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"2. Enterprise training in the metaverse."}},{"contentType":"text","value":{"formats":{},"data":" Manufacturers can leverage the remote collaboration and immersive simulation advantages of the Metaverse to train employees on new equipment and procedures, preventing errors, accidents or equipment damage. An engaging virtual environment can be provided to employees to learn, acquire and safely practice new skills in collaboration with other peers.\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Meta4-1649670225185.jpg"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[YS]: "}},{"contentType":"text","value":{"formats":{"header":3},"data":"How is Xenvis leveraging the metaverse – for itself, and for its clients?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[ZK]: "}},{"contentType":"text","value":{"formats":{},"data":"At Xenvis, we are focusing on metaverse use-cases for enterprises. We are building solutions for use-cases that have immense utility value. \n\nThis includes solving real world issues, making businesses more efficient, reducing costs and connecting people in a way that hasn’t been done before.\n"}},{"contentType":"alsoRead","value":{"title":"‘Metaverse is storytelling and content first’ – in conversation with Namrata Singh, Sony Entertainment Talent Ventures India","thumbnail":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Meta3-1648749186111.jpg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/03/metaverse-storytelling-namrata-singh-cii-summit"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[YS]: "}},{"contentType":"text","value":{"formats":{"header":3},"data":"How can large firms and startups collaborate for mutual benefit in the metaverse opportunity?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[ZK]: "}},{"contentType":"text","value":{"formats":{},"data":"There will be space for everyone in the Metaverse. \n\nLarge firms will drive the development of"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" platforms and delivery mediums "}},{"contentType":"text","value":{"formats":{},"data":"(hardware). Startups will play a major role in the disruptive core technologies and in content creation. This will present unique collaboration opportunities to build digital assets in the metaverse.\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[YS]: "}},{"contentType":"text","value":{"formats":{"header":3},"data":"What are three key emerging trends in the metaverse frontier?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[ZK]:"}},{"contentType":"text","value":{"formats":{},"data":" Three key emerging trends in the metaverse are: mainstreaming real-time interaction in 3D virtual spaces, Web3, and brain-computer interfaces.\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Meta2-1649670292600.jpg"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[YS]: "}},{"contentType":"text","value":{"formats":{"header":3},"data":"What are India’s unique opportunities, strengths and challenges in the metaverse space?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[ZK]:"}},{"contentType":"text","value":{"formats":{},"data":" India has the advantage of having people with sharp technical skills who also have a creative mindset. \n\nIndian companies will play an important role in building and shaping the Metaverse. India will also be "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"one of the largest markets"}},{"contentType":"text","value":{"data":" with a significant number of metaverse consumers for a variety of use-cases including entertainment, media, tourism, remote collaboration, and more.\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"The challenge will be to deal with evolving regulations on topics such as cryptocurrency, NFTs, decentralisation, and digital assets."}}],"timeLapsed":"11th Apr 2022","publishedDate":"April 11, 2022"},{"id":240381,"title":"‘Diversity and inclusion should be key foundations of any Metaverse application,’ says Hina Dixit, Metaverse investor, SamsungNext","slug":"cii-diversity-inclusion-metaverse-hina-dixit","type":"RICH","subtitle":"In this fourth preview article on CII’s upcoming Global Knowledge Summit, we present more expert insights on metaverse contributions to gaming and education.","publishedAt":"2022-04-10T07:08:41.333Z","updatedAt":"2022-04-10T08:52:45.729Z","brand":{"name":"YourStory","slug":"yourstory","locale":"en_GB","path":"/"},"metadata":{"authors":[{"name":"Madanmohan Rao","username":"madanmohan","order":0,"path":"/author/madanmohan"}],"category":{"id":359,"name":"Interview","slug":"ys-interview","path":"/category/ys-interview"},"excerpt":"In this fourth preview article on CII’s upcoming Global Knowledge Summit, we present more expert insights on metaverse contributions to gaming and education.","media":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Meta2-1649570792576.jpg","thumbnail":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Meta2-1649570792576.jpg","defaultThumbnail":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Meta2-1649570792576.jpg","brandSpotlight":null,"removeAds":null,"curatedCategories":[],"sponsoredStory":null,"isRegistrationRequired":false,"timeToRead":7,"articleTopics":[],"richArticleTopics":[{"id":"991ecc30-663e-11eb-b571-b76e0f3e580d","slug":"ecosystem-insights","name":"Ecosystem Insights","type":"RICH-ARTICLE-TOPIC","order":0}],"tags":[{"name":"CII","slug":"CII-","order":0,"path":"/tag/CII-"},{"name":"metaverse","slug":"metaverse","order":1,"path":"/tag/metaverse"},{"name":"hina dixit","slug":"hina-dixit","order":2,"path":"/tag/hina-dixit"},{"name":"samsungnext","slug":"samsungnext","order":3,"path":"/tag/samsungnext"},{"name":"Diversity and Inclusion","slug":"diversity-and-inclusion","order":4,"path":"/tag/diversity-and-inclusion"}]},"snippets":null,"trailers":null,"path":"/2022/04/cii-diversity-inclusion-metaverse-hina-dixit","featured":false,"mobilePostJson":[{"contentType":"text","value":{"formats":{"bold":true},"data":"Hina Dixit "}},{"contentType":"text","value":{"formats":{},"data":"currently drives all investments in the field of AI and Metaverse at SamsungNext. She earlier led a team at "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Apple"}},{"contentType":"text","value":{"data":" for eight years in projects for security, cloud, AI, and data integrity. She holds multiple patents through her work at Apple.\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"She is also an angel investor in EventTow, an AI/AR-based app to book event management services, and Aryahi Inc, focusing on no-code solutions."}},{"contentType":"text","value":{"formats":{},"data":"Hina will speak at CII’s (Confederation of Indian Industry) upcoming annual Global Knowledge Summit. The 17th edition of the summit will be held in a hybrid format in Bengaluru and online on April 12-13, with the theme of "}},{"contentType":"text","value":{"formats":{"link":"https://ciiknowledgesummit.in/","italic":true},"data":"Knowledge Management and the Metaverse."}},{"contentType":"text","value":{"data":"\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"As media partner for the Global Knowledge Summit, see \u003cem>YourStory’s\u003c/em> preview article of the 2022 edition \u003ca href=\"https://yourstory.com/2022/03/cii-knowledge-management-metaverse-derick-jose/\">here,\u003c/a> and coverage of the editions from \u003ca href=\"https://yourstory.com/2021/04/remote-learning-knowledge-cii\">2021,\u003c/a> \u003ca href=\"https://yourstory.com/2020/07/cii-knowledge-skills-relevant-disruption\">2020\u003c/a> and \u003ca href=\"https://yourstory.com/2019/02/digital-transformation-cii-knowledge-summit\">2019.\u003c/a> "}},{"contentType":"text","value":{"formats":{},"data":"In this chat with "}},{"contentType":"text","value":{"formats":{"bold":true,"italic":true},"data":"YourStory"}},{"contentType":"text","value":{"formats":{},"data":", Hina talks about trends in the metaverse ecosystem, innovative startups, and opportunities for India.\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Hina3-1649571845956.png","caption":"\u003cp>Hina Dixit\u003c/p>"}},{"contentType":"text","value":{"formats":{"italic":true},"data":"Edited excerpts of the interview:"}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"YourStory [YS]: "}},{"contentType":"text","value":{"formats":{},"data":"Immersive media and blockchain have been around for a while – what is new about the metaverse concept? How would you demystify the hype and misconceptions around it?"}},{"contentType":"text","value":{"formats":{"header":3},"data":" \n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Hina Dixit [HD]:"}},{"contentType":"text","value":{"formats":{},"data":" During the pandemic, people ended up spending much more time in front of screens. We started to miss the real-life experience, which created a problem space for tech giants to solve. \n\nThe consumer mind also shifted and was more eager to try out new virtual experiences to find some semblance to their pre-COVID-19 life. This accelerated the efforts to achieve the ultimate vision of Metaverse, which was originally coined in 1992 by "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Neal Stephenson "}},{"contentType":"text","value":{"formats":{},"data":"in his novel "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"Snow Crash"}},{"contentType":"text","value":{"data":". \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"I tend to pursue Metaverse from Jon Radoff’s wider view that a metaverse is an environment in which the real-world limitations ascribed to physical space, objects, and time are dematerialisd. "}},{"contentType":"text","value":{"formats":{},"data":"This perceptions keeps our approach to Metaverse more holistic and grounded and helps us demystify the hype.\n"}},{"contentType":"alsoRead","value":{"title":"Key highlights from YourStory's The Metaverse Summit - India's first Web3 conference","thumbnail":"https://images.yourstory.com/cs/121/98e25df018b511e988ceff9061f4e5e7/Generic-image-21-1648279309457.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/the-decrypting-story/yourstory-metaverse-summit-highlights-web3-conference"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[YS]: "}},{"contentType":"text","value":{"formats":{"header":3},"data":"In the context of organisational learning and knowledge assets, what contributions does the metaverse make? \n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[HD]:"}},{"contentType":"text","value":{"formats":{},"data":" Learning should be active and not passive, which implies the approach to educate should be more creative and engaging. Metaverse can provide creative tools for teachers and students. \n\nFor example, a very dull class in "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"history "}},{"contentType":"text","value":{"formats":{},"data":"can be revitalised by a virtual visit to museums and historic sites. When teaching laws of "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"physics,"}},{"contentType":"text","value":{"formats":{},"data":" a simulation in virtual reality can let students experiment safely while they are in the class. \n\nLearning occurs best when the playful activity has a "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"well-articulated learning goal, "}},{"contentType":"text","value":{"formats":{},"data":"be it in STEM (science, technology, engineering, and math), literacy, or “learning to learn” skills like memory, attention, and flexible thinking. \n\nMetaverse can take learning and creativity to the next level as distractions can be avoided in a simulated environment.\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[YS]: "}},{"contentType":"text","value":{"formats":{"header":3},"data":"What are three most innovative applications you have seen in the metaverse?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[HD]:"}},{"contentType":"text","value":{"formats":{},"data":" I will name some of the key infrastructure pieces which are the key to build the metaverse from our portfolio companies. \n\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Alchemy"}},{"contentType":"text","value":{"formats":{},"data":" makes blockchain/Web3 development easy with one magic line of code. "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"The Sandbox"}},{"contentType":"text","value":{"formats":{},"data":" is virtual world where players can build, own, and monetise their gaming experiences on the Ethereum blockchain using the utility token $SAND. \n\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Proof of Learn, Inc (POL) "}},{"contentType":"text","value":{"formats":{},"data":"is a Web3 education platform with a mission to unlock accessible, high-quality education across the world through blockchain and a learn-to-earn protocol.\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Meta3-1649571166278.jpg"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[YS]: "}},{"contentType":"text","value":{"formats":{},"data":"What are the risks and challenges involved in the metaverse, from a consumer rights perspective?"}},{"contentType":"text","value":{"formats":{"header":3},"data":" \n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[HD]:"}},{"contentType":"text","value":{"formats":{},"data":" Some of the risks can be privacy of user data. \n\nAs the metaverse is being designed and implemented, there must be an intentional effort to involve people from marginalised communities in significant leadership and "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"decision-making"}},{"contentType":"text","value":{"data":" roles to ensure that all users feel safe and valued as they participate in these environments.\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"Diversity and inclusion should be key foundations of any Metaverse application. As the Metaverse expands, privacy laws and lawmakers will need to push for user safety and privacy. "}},{"contentType":"text","value":{"formats":{},"data":"With the power of companies providing federated learning like DynamoFL, companies can train AI models without sharing the data with anyone. My tip to early developers in Metaverse is to design their applications with "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"user privacy"}},{"contentType":"text","value":{"formats":{},"data":" in mind and have a compliance strategy to implement consumer data rights, including the biometric privacy laws. \n"}},{"contentType":"alsoRead","value":{"title":"India can lead in industrial metaverse applications – in conversation with Derick Jose of Flutura Decision Sciences & Analytics","thumbnail":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/CII-1-1648653601232.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/03/cii-knowledge-management-metaverse-derick-jose"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[YS]: "}},{"contentType":"text","value":{"formats":{},"data":"How can large firms and startups collaborate for mutual benefit in the metaverse opportunity?"}},{"contentType":"text","value":{"formats":{"header":3},"data":" \n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[HD]:"}},{"contentType":"text","value":{"formats":{},"data":" Various companies in different verticals can come together to create new experiences for their consumers. \n\nFor example, "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Lego"}},{"contentType":"text","value":{"formats":{},"data":" and "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Epic Games"}},{"contentType":"text","value":{"formats":{},"data":" recently announced a joint partnership to create a children-focused metaverse. Similarly, new markets can be explored by these joint ventures to provide new experiences and add value to consumers’ day to day life.\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[YS]: "}},{"contentType":"text","value":{"formats":{},"data":"What are your tips for the audience on how to progress along the maturity curve of metaverse deployment?"}},{"contentType":"text","value":{"formats":{"header":3},"data":" \n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[HD]:"}},{"contentType":"text","value":{"formats":{},"data":" My advice to the audience would be to keep an eye on the tech and plan for interactions, not just transactions. \n\nEven if your company has in-house developers and 3D modelers, there is no doubt that"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" creating a metaverse is a huge challenge that could take years. "}},{"contentType":"text","value":{"formats":{},"data":"This is true especially if your developers and designers have no previous VR experience and have not built any application ecosystems similar in scale. \n\nWith this in mind, you can choose to "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"work with partners"}},{"contentType":"text","value":{"formats":{},"data":" for this type of need. This way, the work gets done faster and your internal staff is free to work on other pursuits. Not to mention that development partners often have much stronger experience and technical abilities than anyone you host.\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/CII-1-1649571205718.png"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[YS]: "}},{"contentType":"text","value":{"formats":{},"data":"At a societal level, will the metaverse trigger off a new kind of digital divide? How can this be overcome?"}},{"contentType":"text","value":{"formats":{"header":3},"data":" \n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[HD]:"}},{"contentType":"text","value":{"formats":{},"data":" I think from an access point of view. If we completely foresee metaverse as a virtual experience, it could worsen digital inequality by creating an even bigger barrier for people who might already be digitally excluded. \n\nA lot of people don’t have "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"access to the internet"}},{"contentType":"text","value":{"formats":{},"data":" or sufficient internet literacy. This divide can be overcome, by building better infrastructure in network connectivity, creating seamless and easy-to-use hardware and by also adding some of the computer science pre-requisites in the classrooms. \n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[YS]: "}},{"contentType":"text","value":{"formats":{},"data":"What are India’s unique opportunities, strengths and challenges in the metaverse space?"}},{"contentType":"text","value":{"formats":{"header":3},"data":" \n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[HD]:"}},{"contentType":"text","value":{"formats":{},"data":" India’s ‘Make In India’ has opened doors for investors and foreign companies to build hardware and software for Metaverse in India. \n\nThe global Metaverse market size is predicted to attain $678.8 billion by 2030. Furthermore, consumption of "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"video streaming and gaming in India"}},{"contentType":"text","value":{"formats":{},"data":" has been increasing at a scorching rate, with reports suggesting the Indian gaming market will more than triple to $7 billion by 2026. \n\nMetaverse could offer a rare opportunity worth billions of dollars for the Indian economy, especially for the revival of India's "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"movie and gaming industry"}},{"contentType":"text","value":{"formats":{},"data":", as users become familiar with cryptocurrency, augmented/virtual reality, and blockchain.\n"}},{"contentType":"alsoRead","value":{"title":"The metaverse can make learning more experiential, vivid, and impactful, says Shankar Maruwada, EkStep Foundation","thumbnail":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Meta5-1649216195919.jpg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/04/metaverse-cii-knowledge-summit-shankar-maruwada"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[YS]: "}},{"contentType":"text","value":{"formats":{"header":3},"data":"What are some next steps in your metaverse journey at SamsungNext? \n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[HD]:"}},{"contentType":"text","value":{"formats":{},"data":" My focus is to find more startups that are focusing on a seamless immersive user experience, boosting innovations in XR and gaming. I am also focused on the problem space where Metaverse meets AI and Web3. \n\nThis also includes business or technical "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"innovation "}},{"contentType":"text","value":{"formats":{},"data":"that intelligently adds the promises of Web3 (decentralisation, ownership, agency, identity) into gaming, XR or the creator economy including automation in content creation. \n\nI am constantly looking for new startups focused on solving such pain points.\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Meta6-1649571274533.jpg"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[YS]: "}},{"contentType":"text","value":{"formats":{},"data":"What are some emerging trends in the metaverse frontier?"}},{"contentType":"text","value":{"formats":{"header":3},"data":" \n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[HD]:"}},{"contentType":"text","value":{"formats":{},"data":" There are a lot of cool startups working on building the infrastructure of the Metaverse using Web3. Also, there has been a recent boost in "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"creator"}},{"contentType":"text","value":{"formats":{},"data":" tools and creator economy. \n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[YS]: "}},{"contentType":"text","value":{"formats":{"header":3},"data":"Any other parting remarks for our audience?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[HD]:"}},{"contentType":"text","value":{"formats":{},"data":" If you are a startup founder and raising funds in the space of Metaverse or AI, please feel free to reach out to me on "}},{"contentType":"text","value":{"formats":{"link":"https://www.linkedin.com/in/hinadixit/"},"data":"LinkedIn"}},{"contentType":"text","value":{"formats":{},"data":"! I am also open to "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"advisor roles "}},{"contentType":"text","value":{"formats":{},"data":"and serving as board member.\n\n"}}],"timeLapsed":"10th Apr 2022","publishedDate":"April 10, 2022"},{"id":240123,"title":"Better products can build better businesses, says Anand Chandrasekaran, Partner, General Catalyst \r\n","slug":"better-products-better-businesses-anand-chandrasekaran-general-catalyst","type":"RICH","subtitle":"In a conversation with YourStory, Anand Chandrasekaran talks about his journey from being a product manager to an investor, and how he views startups. \r\n","publishedAt":"2022-04-08T01:05:00.000Z","updatedAt":"2022-04-11T13:39:25.168Z","brand":{"name":"YourStory","slug":"yourstory","locale":"en_GB","path":"/"},"metadata":{"authors":[{"name":"Sindhu Kashyaap","username":"sindhu-kashyap","order":0,"path":"/author/sindhu-kashyap"}],"category":{"id":359,"name":"Interview","slug":"ys-interview","path":"/category/ys-interview"},"excerpt":"In a conversation with YourStory, Anand Chandrasekharan talks about his journey from being a product manager to an investor, and how he views startups. \n","media":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/Anand-1649335108197.jpeg","thumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/Anand-1649335108197.jpeg","defaultThumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/Anand-1649335108197.jpeg","brandSpotlight":null,"removeAds":null,"curatedCategories":[],"sponsoredStory":null,"isRegistrationRequired":false,"timeToRead":7,"articleTopics":[],"richArticleTopics":[{"id":"991ecc30-663e-11eb-b571-b76e0f3e580d","slug":"ecosystem-insights","name":"Ecosystem Insights","type":"RICH-ARTICLE-TOPIC","order":0}],"tags":[{"name":"Anand Chandrasekaran","slug":"anand-chandrasekaran","order":0,"path":"/tag/anand-chandrasekaran"},{"name":"General Catalyst","slug":"general-catalyst","order":1,"path":"/tag/general-catalyst"},{"name":"new VC funds","slug":"new-vc-funds","order":2,"path":"/tag/new-vc-funds"},{"name":"Investor","slug":"investor","order":3,"path":"/tag/investor"}]},"snippets":null,"trailers":null,"path":"/2022/04/better-products-better-businesses-anand-chandrasekaran-general-catalyst","featured":true,"mobilePostJson":[{"contentType":"text","value":{"formats":{"bold":true},"data":"Anand Chandrasekaran"}},{"contentType":"text","value":{"formats":{},"data":", partner at "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"General Catalyst"}},{"contentType":"text","value":{"formats":{},"data":", is one of the top global product leaders. Previously, he was the CPO at Facebook, now Meta; Five9; Snapdeal; and Bharati Airtel. \n\nOver the years, Anand has built five global products that have grown to reach over 10 million users each. He also co-founded Aeroprise Inc and was the EVP of products at Five9, which added $10 billion in value since 2019. \n\nAnand has also been an investor in over 80 startups, including "}},{"contentType":"companyWidget","value":{"id":"fdf72d40-a3ee-11ea-8929-c54a7014c0ac","name":"Aisle","slug":"aisle","logo":{"height":400,"width":400,"imageKey":"cs/images/companies/7i3ogbna400x400-1591005759253.jpg","url":"https://images.yourstory.com/cs/images/companies/7i3ogbna400x400-1591005759253.jpg"},"subtitle":"Aisle is a platform that builds high-intent dating apps exclusively for Indians. 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It was founded by doctor turned entrepreneur Ritesh Malik.","foundingDate":"2015-10-29","companyURL":"https://yourstory.com/companies/innov8","companyCoreTeam":[{"name":"Ritesh Malik"},{"name":"Sumit Ranka"},{"name":"Shailesh Gupta"}],"sectors":[{"name":"Community","slug":"community"},{"name":"Real Estate","slug":"real-estate"},{"name":"Collaboration","slug":"collaboration"}]}},{"contentType":"text","value":{"formats":{},"data":", in India and the US. \n\nAn MS in electrical engineering from "}},{"contentType":"companyConnect","value":{"id":"fdf72d40-a3ee-11ea-8929-c54a7014c0ac","slug":"aisle","name":"Aisle"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Stanford University"}},{"contentType":"text","value":{"formats":{},"data":", Anand has been named as a "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Young Global Leader by the World Economic Forum. "}},{"contentType":"text","value":{"formats":{},"data":"\n\nIn a conversation with "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"YourStory"}},{"contentType":"text","value":{"formats":{},"data":", Anand talks about his journey from being a product manager to an investor, the importance of having a product-centric approach, and his views on startups. \n\nEdited excerpts from the interview:\n"}},{"contentType":"text","value":{"formats":{"header":3},"data":"YourStory (YS): You have always been building products. From then to now, how is the shift like on the VC side? \n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Anand Chandrasekaran (AC):"}},{"contentType":"text","value":{"data":" I normally have a very product centric approach to thinking and looking at businesses. When I moved to India in 2014, I was often asked what does a CPO do? And genuinely, there wasn’t much awareness and understanding of the function. I was building products and it was important to have a narrative to understand why better products can lead to better businesses. \n\nWe worked on Airtel Money and Wynk Music, and that is when people started seeing first hand how better products can actually create a business impact. Startups too were facing the same problem, where while they knew that product was important, there wasn’t a larger narrative around it. \n\nThat is how the founders brought in value on the cap table. These people had other expertise, and they felt that it would be great to raise money from someone who builds products. This helped with feedback and hiring people in product engineering. They would increasingly start solving business problems with product, for example, they would say - the costs in my supply chain are high and how do I solve it as a product problem. \n\nThus, we were able to solve some major business problems by converting them into engineering problems. This was an insight for me. \n"}},{"contentType":"companyConnect","value":{"id":"fdf72d40-a3ee-11ea-8929-c54a7014c0ac","slug":"aisle","name":"Aisle"}},{"contentType":"blockquote","value":{"formats":{},"data":"I was an early investor in Rupeek, NoBroker, DealShare, MoEngage, and others, and soon the narrative started to take root that you need to genuinely have a product-centric approach. "}},{"contentType":"text","value":{"formats":{},"data":"This was the insight that got me into investing.\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/wordpress/2016/03/Anand-Chandrasekaran-Chief-Product-Officer-241x300.jpg","caption":"\u003cp>Anand Chandrasekaran\u003c/p>"}},{"contentType":"text","value":{"formats":{"header":3},"data":"YS: What is it like being an investor today? Why did you choose General Catalyst? \n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"AC: "}},{"contentType":"text","value":{"formats":{},"data":"For me, the shift was actually quite natural and organic. There are a few things that resonated with me. \n\nOne is that General Catalyst (GC) has been around for over a decade, and they approach investing with a makers’ mentality. And this was exactly how I approached angel investing. It is about thinking like a builder. \n\nOne of the things we do is build companies within GC and we incubate companies inside GC. One of the parts of the fund is a creation fund that is dedicated to new companies that are hatched within GC. \n\nThe other part that compelled me was "}},{"contentType":"companyConnect","value":{"id":"fdf72d40-a3ee-11ea-8929-c54a7014c0ac","slug":"aisle","name":"Aisle"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"radical collaboration"}},{"contentType":"text","value":{"data":". We believe in partnering with the founders, and within the firm we try to create and build the company. We do this in a cross functional way. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"We have done close to seven deals in India in the past four months, and more than just understanding the founder and the business, it is about everything the firm does. "}},{"contentType":"text","value":{"formats":{},"data":"The last part is "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"responsible innovation"}},{"contentType":"text","value":{"formats":{},"data":". There is a belief that societal good and profits have to be mutually exclusive and both can’t be done together. \n\nIncreasingly, it is being seen that most businesses become successful because the founders align with a larger focus on responsible innovation and are focussed on both profit and societal good. They compound over a long time because they are good for the society as well. We believe this has to be part of the company building process. \n\nThus, when we talk to a company, we look at different aspects of the organisation that can have unintended consequences of societal growth, and how the founder views the business in terms of societal good. \n"}},{"contentType":"companyConnect","value":{"id":"fdf72d40-a3ee-11ea-8929-c54a7014c0ac","slug":"aisle","name":"Aisle"}},{"contentType":"alsoRead","value":{"title":"[Product Roadmap] With over 50,000 connected assets and 200M daily data points, how Zenatix is leveraging tech to bring energy efficiency ","thumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/Zenatix-1649165517184.jpeg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/04/product-roadmap-zenatix-energy-tech-startup-iot-stack-efficiency"}},{"contentType":"text","value":{"formats":{"header":3},"data":"YS: How do you view your investments different from other investors? \n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"AC:"}},{"contentType":"text","value":{"formats":{},"data":" There are two things here -- you need to have a significantly deep partnership with the founder. This was happening in the valley from 2010, where everything had become founder centric. And we saw that more in India. Founders had started looking closely at the kind of investors they wanted to partner with as they were building along a 10 year cycle. \n\nIt was about the partnerships. It is important that both parties be in the partnership for a long term. Another important fact was that early startups that broke out in India were addressing a different market, but today it is changing. More people are online and have access to information. This is opening opportunities across commerce, edtech, B2B marketplaces, and everything that is meaningful for the next 500 million. \n\nToday, I believe there are a bunch of companies that are going to be built for the next 500 million. \n"}},{"contentType":"companyConnect","value":{"id":"fdf72d40-a3ee-11ea-8929-c54a7014c0ac","slug":"aisle","name":"Aisle"}},{"contentType":"text","value":{"formats":{"header":3},"data":"YS: How has the investment landscape changed? \n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"AC: "}},{"contentType":"text","value":{"formats":{},"data":"Today, there is significantly "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"more capital available in India"}},{"contentType":"text","value":{"formats":{},"data":", which means that founders have a choice of partners. This in turn changes the dynamics, which is a good development for the ecosystem. \n\nBack in 2014, being a founder wasn’t a cool thing, and there wasn’t much social acceptance. But today there is not just social acceptance, but also a pressure to start up. This in turn is making a lot of young people to view starting up as a way to making India better. \n\nAs wealth gets created for companies, investors, and employees, it gets back into the ecosystem in the form of angel investments. \n"}},{"contentType":"companyConnect","value":{"id":"fdf72d40-a3ee-11ea-8929-c54a7014c0ac","slug":"aisle","name":"Aisle"}},{"contentType":"blockquote","value":{"formats":{},"data":"\u003cb>Today, we see a vibrant ecosystem, which I am lucky to be a part of, and this is phenomenal for founders as they get help from the right people. Also, remote working has democratised access in ways like never before for talent acquisition and even starting up. \u003c/b>"}},{"contentType":"alsoRead","value":{"title":"[Techie Tuesday] How Radha Ramaswami Basu built HP in India, grew vertical into $1.2B operation ","thumbnail":"https://images.yourstory.com/cs/2/a09f22505c6411ea9c48a10bad99c62f/Imagerdhh-1649079902912.jpg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/04/techie-tuesday-radha-ramaswami-basu-hp-hewlett-packard-imerit"}},{"contentType":"text","value":{"formats":{"header":3},"data":"YS: How has the role of a CPO changed and how has product thinking changed? \n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"AC:"}},{"contentType":"text","value":{"data":" It has changed significantly. People have realised that at the end of the day, they have to solve for business problems and consumer problems. Product and engineering is a strong lever, and while it may not solve every problem, it is a great tool. People are looking at how they can address a problem using an engineering solution or product experience. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"In the B2B space, Indian founders are building some of the best product experience. Today, Indian SaaS companies are becoming the gold standard in terms of experiences. These are strong developments, and has further pushed people to think product wise. "}},{"contentType":"text","value":{"formats":{"header":3},"data":"YS: How have products evolved over time? \n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"AC:"}},{"contentType":"text","value":{"formats":{},"data":" Globally, there is a shift towards responsible innovation. Founders are now looking to bring in stronger mindset into systems and algorithms are built from day one, because as the business grows, the way these systems work also grows. \n\nEthical consumption is a big shift. Founders are looking at businesses more from a long term perspective, and are very particular about how they build the product. \n"}},{"contentType":"companyConnect","value":{"id":"fdf72d40-a3ee-11ea-8929-c54a7014c0ac","slug":"aisle","name":"Aisle"}},{"contentType":"text","value":{"formats":{"header":3},"data":"YS: What advice do you give founders today? \n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"AC:"}},{"contentType":"text","value":{"formats":{},"data":" As an angel investor, it was believed that I was providing a lot of knowledge, but the reverse is true, the knowledge and insights you get from the founders is great. \n\nWhat investors can do is be trusted partners with the founders as they mostly have the answers. They may just need people to help them look at alternatives. The partnerships are becoming longer and longer so it is important that trust is built between the founders and the investors from day one. \n\n"}},{"contentType":"companyConnect","value":{"id":"fdf72d40-a3ee-11ea-8929-c54a7014c0ac","slug":"aisle","name":"Aisle"}}],"timeLapsed":"8th Apr 2022","publishedDate":"April 08, 2022","editorsPickTitle":"Better products can build better businesses, says Anand Chandrasekaran ","editorsPickSubtitle":"In a conversation with YourStory, Anand Chandrasekaran talks about his journey from being a product manager to an investor, and how he views startups. \n","editorsPickStartTime":"2022-04-08T00:30:00.000Z","editorsPickEndTime":"2022-04-08T03:30:00.000Z"},{"id":239829,"title":"The metaverse can make learning more experiential, vivid, and impactful, says Shankar Maruwada, EkStep Foundation","slug":"metaverse-cii-knowledge-summit-shankar-maruwada","type":"RICH","subtitle":"In this third preview article on CII’s upcoming Global Knowledge Summit, we share expert insights on metaverse contributions to education.","publishedAt":"2022-04-06T04:13:23.400Z","updatedAt":"2022-04-06T06:39:44.946Z","brand":{"name":"YourStory","slug":"yourstory","locale":"en_GB","path":"/"},"metadata":{"authors":[{"name":"Madanmohan Rao","username":"madanmohan","order":0,"path":"/author/madanmohan"}],"category":{"id":359,"name":"Interview","slug":"ys-interview","path":"/category/ys-interview"},"excerpt":"In this third preview article on CII’s upcoming Global Knowledge Summit, we share expert insights on metaverse contributions to education.","media":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Meta5-1649216195919.jpg","thumbnail":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Meta5-1649216195919.jpg","defaultThumbnail":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Meta5-1649216195919.jpg","brandSpotlight":null,"removeAds":null,"curatedCategories":[],"sponsoredStory":null,"isRegistrationRequired":false,"timeToRead":4,"articleTopics":[],"richArticleTopics":[{"id":"991ecc30-663e-11eb-b571-b76e0f3e580d","slug":"ecosystem-insights","name":"Ecosystem Insights","type":"RICH-ARTICLE-TOPIC","order":0}],"tags":[{"name":"metaverse","slug":"metaverse","order":0,"path":"/tag/metaverse"},{"name":"CII","slug":"CII-","order":1,"path":"/tag/CII-"},{"name":"educational technologies","slug":"educational-technologies","order":2,"path":"/tag/educational-technologies"},{"name":"shankar maruwada","slug":"shankar-maruwada","order":3,"path":"/tag/shankar-maruwada"},{"name":"Conference","slug":"conference","order":4,"path":"/tag/conference"}]},"snippets":null,"trailers":null,"path":"/2022/04/metaverse-cii-knowledge-summit-shankar-maruwada","featured":false,"mobilePostJson":[{"contentType":"text","value":{"formats":{"bold":true},"data":"Shankar Maruwada "}},{"contentType":"text","value":{"formats":{},"data":"is Co-founder and CEO of "}},{"contentType":"companyWidget","value":{"id":"6a79c2e0-f414-11eb-b142-75f98cb8b058","name":"EkStep","slug":"ekstep","logo":{"height":300,"width":300,"imageKey":"cs/images/companies/15198779024451-1627966258975.jpg","url":"https://images.yourstory.com/cs/images/companies/15198779024451-1627966258975.jpg"},"subtitle":"EkStep Foundation wants to bring Access to learning opportunities to every child.","foundingDate":"2015-01-01","companyURL":"https://yourstory.com/companies/ekstep","companyCoreTeam":[{"name":"Shankar Maruwada "}],"sectors":[{"name":"NGO/Non-profit/Social Impact","slug":"ngo-non-profit-social-impact"}]}},{"contentType":"text","value":{"formats":{},"data":" Foundation, which is building a learning platform to improve applied literacy and numeracy for millions of children in India.\n\nThe foundation has developed an open-source digital infrastructure for learning called "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Sunbird, "}},{"contentType":"text","value":{"formats":{},"data":"with a set of modular building blocks for learning at scale. The developed code is open source and available on Github.\n\nShanar was earlier the Co-founder and CEO of FourthLion Technologies; Head - Demand Generation and Marketing at Unique Identification Authority of India "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"(UIDAI); "}},{"contentType":"text","value":{"formats":{},"data":"and Co-founder, and Chief Marketing Officer, Marketics. Shankar is an almunus of IIM Ahmedabad and IIT Kharagpur.\n\nHe is also speaking at CII’s upcoming annual "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Global Knowledge Summit."}},{"contentType":"text","value":{"formats":{},"data":" The 17th edition of the summit is being held in a hybrid format in Bengaluru and online on April 12-13, with the theme of "}},{"contentType":"text","value":{"formats":{"link":"https://ciiknowledgesummit.in/","italic":true},"data":"Knowledge Management and the Metaverse."}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"\u003cb>As media partner for the Global Knowledge Summit, see \u003c/b>\u003cem>YourStory’s\u003c/em> preview article of the 2022 edition \u003ca href=\"https://yourstory.com/2022/03/cii-knowledge-management-metaverse-derick-jose/\">here,\u003c/a> and coverage of the editions from \u003ca href=\"https://yourstory.com/2021/04/remote-learning-knowledge-cii\">2021,\u003c/a> \u003ca href=\"https://yourstory.com/2020/07/cii-knowledge-skills-relevant-disruption\">2020\u003c/a> and \u003ca href=\"https://yourstory.com/2019/02/digital-transformation-cii-knowledge-summit\">2019.\u003c/a> "}},{"contentType":"text","value":{"formats":{},"data":"In this chat with "}},{"contentType":"text","value":{"formats":{"bold":true,"italic":true},"data":"YourStory"}},{"contentType":"text","value":{"formats":{},"data":", Shankar talks about education in the metaverse, trends in the ecosystem, and opportunities for India.\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Shankar-1649216524729.png"}},{"contentType":"text","value":{"formats":{"italic":true},"data":"Edited excerpts of the interview:"}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{"bold":true,"italic":true},"data":"YourStory"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" [YS]:"}},{"contentType":"text","value":{"formats":{"header":3},"data":" Immersive media and blockchain have been around for a while – what is new about the metaverse concept? How would you demystify the hype and misconceptions around it?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Shankar Maruwada [SM]:"}},{"contentType":"text","value":{"formats":{},"data":" We can think of the metaverse as being part of the evolutionary process of the web: from reading to being social to now being experiential. And also towards more decentralisation, more co-creation, and so forth. \n\nSo now with the metaverse, you can "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"“create experiences”"}},{"contentType":"text","value":{"formats":{},"data":" – magical, imaginary or mirrors of the real world or a certain version of that reality. As the technology becomes more mainstream, hardware costs drop, computing power increases, and there are more adopters, "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"there will be more and more use cases"}},{"contentType":"text","value":{"formats":{},"data":" – from small groups of people with unique needs to more widespread usage in diverse areas.   \n"}},{"contentType":"alsoRead","value":{"title":"Key highlights from YourStory's The Metaverse Summit - India's first Web3 conference","thumbnail":"https://images.yourstory.com/cs/121/98e25df018b511e988ceff9061f4e5e7/Generic-image-21-1648279309457.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/the-decrypting-story/yourstory-metaverse-summit-highlights-web3-conference"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[YS]:"}},{"contentType":"text","value":{"formats":{"header":3},"data":" In the context of learning and knowledge assets, what contributions does the metaverse make?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[SM]:"}},{"contentType":"text","value":{"data":" The metaverse allows us to recreate experiences. Imagine a classroom full of students being able to interact with a virtual human heart. They can ‘teleport’ inside the heart to see the interior of the heart’s chambers and vessels, and watch the circulation of blood throughout the heart. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"They can rotate, open and examine its twelve primary parts. Or, let’s say in a cricket training camp, a young girl can stand next to Virat Kohli and study how he places a shot. "}},{"contentType":"text","value":{"formats":{},"data":"Learning happens with both seeing and doing. They say that an ounce of practice is worth a pound of theory. So, when we see something, we internalise it by adding meaning to it. But the final "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"test of learning"}},{"contentType":"text","value":{"formats":{},"data":" happens when we make choices based on that learning. \n\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Stories work because they simulate - they transport you to another world. "}},{"contentType":"text","value":{"formats":{},"data":"The metaverse takes this to the next level, allowing one to experience the simulation. So the metaverse has the potential to make learning more experiential, more vivid, and therefore more impactful. \n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/CII-1-1649216584255.png"}},{"contentType":"alsoRead","value":{"title":"‘Metaverse is storytelling and content first’ – in conversation with Namrata Singh, Sony Entertainment Talent Ventures India","thumbnail":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Meta3-1648749186111.jpg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/03/metaverse-storytelling-namrata-singh-cii-summit"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[YS]:"}},{"contentType":"text","value":{"formats":{"header":3},"data":" How is EkStep leveraging the metaverse? What are the results so far?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[SM]:"}},{"contentType":"text","value":{"formats":{},"data":" At EkStep Foundation, we believe in "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"+1 thinking"}},{"contentType":"text","value":{"formats":{},"data":" - which is innovations that are mind-opening, yet strangely familiar, so that they work for the scale, diversity and different contexts of India. \n\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Energised textbooks, "}},{"contentType":"text","value":{"data":"of which there are more than 600 million distributed with a total of more than 12 billion QR codes, were an addition to regular textbooks. They have made trusted, relevant and quality content available to 200 million children and more than 7 million teachers. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"We believe that as virtual technologies become more mainstream, we can move from democratisation of content to democratisation of context. "}},{"contentType":"text","value":{"formats":{},"data":"The metaverse is but a context — an immersive one — that can in principle bring the best of digital technologies to bear on education if and only if"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" it is done right, "}},{"contentType":"text","value":{"formats":{},"data":"with the science of learning and real children in mind.\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Meta1-1649216615082.jpg"}},{"contentType":"alsoRead","value":{"title":"Opening markets and mindsets: What to expect from India’s femtech sector in 2022 and beyond\n","thumbnail":"https://images.yourstory.com/cs/4/f02aced0d86311e98e0865c1f0fe59a2/femtech-1623045913847.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/herstory/2021/12/femtech-trends-2022-herstory-niramai"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[YS]:"}},{"contentType":"text","value":{"formats":{"header":3},"data":" What are India’s unique opportunities, strengths, and challenges in the metaverse space?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[SM]:"}},{"contentType":"text","value":{"data":" Given the diversity of user needs and contexts, India is a great place to experiment as the metaverse gets built. We have large pools of technologists, a very vibrant ecosystem of private actors, and in government, a willingness to explore new technologies. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"This is a good starting point to look at building things at scale. Metaverse has the potential to allow India to leapfrog in education. "}},{"contentType":"text","value":{"formats":{},"data":"Whether it is mobile telephony, the setting up of digital identity, digital payments, or digital healthcare, India has demonstrated that not only can it innovate but it can "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"adapt innovation to population context and scale. "}},{"contentType":"text","value":{"formats":{},"data":"\n\n"}}],"timeLapsed":"6th Apr 2022","publishedDate":"April 06, 2022"},{"id":239199,"title":"‘Metaverse is storytelling and content first’ – in conversation with Namrata Singh, Sony Entertainment Talent Ventures India","slug":"metaverse-storytelling-namrata-singh-cii-summit","type":"RICH","subtitle":"In this second preview article on CII’s upcoming Global Knowledge Summit, we share expert insights on metaverse entertainment and the India opportunity.","publishedAt":"2022-04-01T03:00:00.000Z","updatedAt":"2022-04-06T03:39:18.963Z","brand":{"name":"YourStory","slug":"yourstory","locale":"en_GB","path":"/"},"metadata":{"authors":[{"name":"Madanmohan Rao","username":"madanmohan","order":0,"path":"/author/madanmohan"}],"category":{"id":359,"name":"Interview","slug":"ys-interview","path":"/category/ys-interview"},"excerpt":"In this second preview article on CII’s upcoming Global Knowledge Summit, we share expert insights on metaverse entertainment and the India opportunity.","media":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Meta3-1648749186111.jpg","thumbnail":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Meta3-1648749186111.jpg","defaultThumbnail":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Meta3-1648749186111.jpg","brandSpotlight":null,"removeAds":null,"curatedCategories":[],"sponsoredStory":null,"isRegistrationRequired":false,"timeToRead":6,"articleTopics":[],"richArticleTopics":[{"id":"991ecc30-663e-11eb-b571-b76e0f3e580d","slug":"ecosystem-insights","name":"Ecosystem Insights","type":"RICH-ARTICLE-TOPIC","order":0}],"tags":[{"name":"CII","slug":"CII-","order":0,"path":"/tag/CII-"},{"name":"metaverse","slug":"metaverse","order":1,"path":"/tag/metaverse"},{"name":"namrata singh","slug":"namrata","order":2,"path":"/tag/namrata"},{"name":"Sony Entertainment Talent Ventures India","slug":"sony-entertainment-talent-ventures-india","order":3,"path":"/tag/sony-entertainment-talent-ventures-india"},{"name":"Entertainment","slug":"entertainment","order":4,"path":"/tag/entertainment"}]},"snippets":null,"trailers":null,"path":"/2022/03/metaverse-storytelling-namrata-singh-cii-summit","featured":false,"mobilePostJson":[{"contentType":"text","value":{"formats":{"bold":true},"data":"Namrata Singh "}},{"contentType":"text","value":{"formats":{},"data":"is Head, Metaverse and Digital, at Sony Entertainment Talent Ventures India. She was earlier Founder and CEO of The First Principle, Brand Consultant at Friday Filmworks, and Co-founder and Director of Everymedia Technologies. She is a graduate of Symbiosis Institute of Management Studies.\n\nNamrata is also speaking at CII’s upcoming annual Global Knowledge Summit. The 17th edition of the summit is being held in a hybrid format in Bengaluru, and online on April 12-13, with the theme of "}},{"contentType":"text","value":{"formats":{"bold":true,"link":"https://ciiknowledgesummit.in/","italic":true},"data":"Knowledge Management and the Metaverse."}},{"contentType":"text","value":{"data":"\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"As the media partner for the Global Knowledge Summit, see \u003cem>YourStory’s\u003c/em> preview article of the 2022 edition \u003ca href=\"https://yourstory.com/2022/03/cii-knowledge-management-metaverse-derick-jose/\">here,\u003c/a> and coverage of the editions from \u003ca href=\"https://yourstory.com/2021/04/remote-learning-knowledge-cii\">2021,\u003c/a> \u003ca href=\"https://yourstory.com/2020/07/cii-knowledge-skills-relevant-disruption\">2020\u003c/a> and \u003ca href=\"https://yourstory.com/2019/02/digital-transformation-cii-knowledge-summit\">2019.\u003c/a> "}},{"contentType":"text","value":{"formats":{},"data":"In this chat with "}},{"contentType":"text","value":{"formats":{"bold":true,"italic":true},"data":"YourStory"}},{"contentType":"text","value":{"formats":{},"data":", Namrata talks about storytelling in the metaverse, trends in the ecosystem, and opportunities for India.\n\n"}},{"contentType":"text","value":{"formats":{"italic":true},"data":"Edited excerpts of the interview:"}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Namrata2-1648749367610.jpeg","caption":"\u003cp>Namrata Singh\u003c/p>"}},{"contentType":"text","value":{"formats":{"bold":true,"italic":true},"data":"YourStory"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" [YS]: "}},{"contentType":"text","value":{"formats":{"header":3},"data":"Immersive media and blockchain have been around for a while – what is new about the metaverse concept? How would you demystify the hype and misconceptions around it?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Namrata Singh [NS]:"}},{"contentType":"text","value":{"data":" As someone with Sony Playstation – part of the group along with Epic Games being a Sony Innovations Fund Investment – of course, immersive media has been around! Gaming is also the origin point of Metaverse as we are experiencing it now.\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"The hype is that it will take over other things and other mediums, and the misconception is that it is an easy shift from Web 2.0 to Web 3.0."}},{"contentType":"text","value":{"formats":{},"data":"But it's a marked shift and just like every other digital change, it will take a few years for "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"mass and consumer adoption. "}},{"contentType":"text","value":{"formats":{},"data":"On the enterprise and brand level, a lot of innovations will take place.\n\nIt may be decentralised and "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"creator-first "}},{"contentType":"text","value":{"formats":{},"data":"but there are a lot of challenges before it is part of daily life.\n"}},{"contentType":"alsoRead","value":{"title":"Key highlights from YourStory's The Metaverse Summit - India's first Web3 conference","thumbnail":"https://images.yourstory.com/cs/121/98e25df018b511e988ceff9061f4e5e7/Generic-image-21-1648279309457.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/the-decrypting-story/yourstory-metaverse-summit-highlights-web3-conference"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[YS]: "}},{"contentType":"text","value":{"formats":{"header":3},"data":"In the context of organisational learning and knowledge assets, what contributions does the metaverse make?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[NS]: "}},{"contentType":"text","value":{"formats":{},"data":"Learning becoming immersive is a given. Immersiveness lends itself to all kinds of learning styles. \n\nAlso, when you are experiencing something in an"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" embodied form, "}},{"contentType":"text","value":{"formats":{},"data":"especially a harder topic like physics, science, or maths, you would end up retaining more.\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[YS]: "}},{"contentType":"text","value":{"formats":{"header":3},"data":"What are some of the most innovative applications you have seen in the metaverse?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[NS]:"}},{"contentType":"text","value":{"formats":{},"data":" It is innovating every day! But I love the whole Play 2 Earn Games space, with Axie Infinity being a great example of the same.\n\nIn India, we are also experimenting with world and experience creation on gaming engines like Unreal.\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[YS]: "}},{"contentType":"text","value":{"formats":{"header":3},"data":"As an entrepreneur and investor, what are the key metaverse opportunities for you?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[NS]:"}},{"contentType":"text","value":{"formats":{},"data":" We are actively looking at Web3 apps, platforms and tooling companies. Metaverse experience creation is a mix of "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"tech, design and creativity,"}},{"contentType":"text","value":{"formats":{},"data":" and we are looking at teams that bring the combination of these three to the table.\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Meta5-1648749426440.jpg"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[YS]: "}},{"contentType":"text","value":{"formats":{"header":3},"data":"What are some innovative startups you have come across in this metaverse space?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[NS]:"}},{"contentType":"text","value":{"formats":{},"data":" There are so many! Epic is of course a front runner but then there is ‘Question What's Real’ in India.\n\nThere is also Anzu in metaverse advertising and many of the group companies of Animoca brands. Sony Innovations Fund (SIF) is doing interesting work in the space as well.\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[YS]: "}},{"contentType":"text","value":{"formats":{"header":3},"data":"How can large firms and startups collaborate for mutual benefit in the metaverse opportunity?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[NS]:"}},{"contentType":"text","value":{"formats":{},"data":" Large companies will bring the platform support. A media conglomerate like us will bring in the celebs, influencers, IPs, characters and so on to make Metaverse a fun and inhabited place and not a ghost town. Large companies will bring in scale.\n\nStartups will bring in the "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"decentralised mindset,"}},{"contentType":"text","value":{"formats":{},"data":" Web 3 tech stack, skillsets and creativity to the table. They will reimagine the internet as we know it today.\n"}},{"contentType":"alsoRead","value":{"title":"India has a huge role to play in shaping the future of the internet, the metaverse: Ajit Mohan, VP and MD, Meta India\r\n","thumbnail":"https://images.yourstory.com/cs/2/0e302530227f11ec9e19b7c38d296967/800x400-IntotheMetaverse-ADeepDiveintoVirtualSharedWorlds-1648130116638.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/the-decrypting-story/yourstory-metaverse-summit-ajit-mohan-meta-india"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[YS]: "}},{"contentType":"text","value":{"formats":{"header":3},"data":"What are your tips for the audience on how to progress along the maturity curve of metaverse deployment?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[NS]:"}},{"contentType":"text","value":{"formats":{},"data":" One step at a time and community and audience first! Just as with anything else, you have to keep the needs of the audience you are building for in the fray.\n\nAlso, "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Metaverse is storytelling and content first. "}},{"contentType":"text","value":{"formats":{},"data":"So telling trans-media stories is a critical skillset of the future.\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[YS]: "}},{"contentType":"text","value":{"formats":{"header":3},"data":"At a societal level, will the metaverse trigger off a new kind of digital divide? How can this be overcome?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[NS]:"}},{"contentType":"text","value":{"formats":{},"data":" Yes, the digital divide has always existed because of the lack of infrastructure and access even today. \n\nBut since we are mostly building for mobile-first and "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"India has 150+ percent mobile penetration, "}},{"contentType":"text","value":{"formats":{},"data":"we should have some level of awareness. But a massive effort is needed as a public-private partnership in this area.\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/CII-1-1648749960879.png"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[YS]: "}},{"contentType":"text","value":{"formats":{"header":3},"data":"What are India’s unique opportunities, strengths, and challenges in the metaverse space?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[NS]: "}},{"contentType":"text","value":{"formats":{},"data":"We are not the back office of the world anymore. We are not selling our wares at cheaper rates. We are skilling ourselves to compete on the world stage and finally be creators.\n\nOur weakness is a lack of experience in "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"creating global IPs"}},{"contentType":"text","value":{"formats":{},"data":" and telling stories that resonate outside of diaspora and Indian sensibilities.\n"}},{"contentType":"alsoRead","value":{"title":"What are top VCs looking for in a Metaverse startup \r\n","thumbnail":"https://images.yourstory.com/cs/4/628912e0d7f211eb8e8307e5b6451cf7/InvestorFocus-WhatVCslookforinaMetaversestartup--1648191069039.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/the-decrypting-story/top-vcs-antler-elevation-capital-investors-advice-metaverse-startups-founders"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[YS]: "}},{"contentType":"text","value":{"formats":{"header":3},"data":"What are some next steps in your metaverse journey?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[NS]:"}},{"contentType":"text","value":{"formats":{},"data":" We have just started! It's been a year of massive growth.\n\nWe are talent-first and are looking at celeb-led storytelling and platform creation for metaverse and Web3. We are recasting the "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"talent business"}},{"contentType":"text","value":{"formats":{},"data":" post-COVID-19 using tech, metaverse, and a shift in agency mindset.\n\nWe are truly aiming to be advisors and partners to our talent base and take them global. We also enable them to meet "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"investors"}},{"contentType":"text","value":{"formats":{},"data":" and bring them to the cap table – and not just faces and endorsers for the thriving startup investment ecosystem.\n\nOur CEO, "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Vijay Singh, "}},{"contentType":"text","value":{"formats":{},"data":"says: “The talent business is changed as we know it forever, and IP ownership will look very different for the next ten years. We hope to craft that story with the best talent in the country.”\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Meta2-1648749520658.jpg"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[YS]: "}},{"contentType":"text","value":{"formats":{"header":3},"data":"What are three key emerging trends in the metaverse frontier?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[NS]: "}},{"contentType":"text","value":{"formats":{},"data":"Play2 Earn Games, Experiential Events, and Web3 platforms and DAOs.\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[YS]: "}},{"contentType":"text","value":{"formats":{"header":3},"data":"Any other parting remarks for our audience?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[NS]:"}},{"contentType":"text","value":{"formats":{},"data":" Whether it is games, movies, OTT or metaverse, all we are doing is using stories to connect better. "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"We are still very human in our virtual avatars. "}},{"contentType":"text","value":{"formats":{},"data":"The essence of the internet being a connector stays, the format has changed and will evolve constantly. Let's not make it bigger than that.\n"}}],"timeLapsed":"1st Apr 2022","publishedDate":"April 01, 2022"},{"id":238157,"title":"Women should think of job as a career, not just a job, says Aditi Kothari Desai of DSP Investment Managers","slug":"women-jobs-aditi-kothari-desai-dsp-investment-managers","type":"RICH","subtitle":"In a conversation with HerStory, Aditi Kothari Desai, Vice Chairperson of DSP Investment Managers, speaks about her journey, learnings, and her advice to women interested in investment management. \r\n","publishedAt":"2022-03-25T01:25:00.000Z","updatedAt":"2022-03-28T02:25:48.866Z","brand":{"name":"YourStory","slug":"yourstory","locale":"en_GB","path":"/"},"metadata":{"authors":[{"name":"Sindhu Kashyaap","username":"sindhu-kashyap","order":0,"path":"/author/sindhu-kashyap"}],"category":{"id":359,"name":"Interview","slug":"ys-interview","path":"/category/ys-interview"},"excerpt":"In a conversation with HerStory, Aditi Kothari Desai, Vice Chairperson of DSP Investment Managers, speaks about her journey, learnings, and her advice to women interested in investment management. \n","media":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/Aditifinal-1648129759205.jpeg","thumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/Aditifinal-1648129759205.jpeg","defaultThumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/Aditifinal-1648129759205.jpeg","brandSpotlight":null,"removeAds":null,"curatedCategories":[],"sponsoredStory":null,"isRegistrationRequired":false,"timeToRead":11,"articleTopics":[],"richArticleTopics":[{"id":"991ecc30-663e-11eb-b571-b76e0f3e580d","slug":"ecosystem-insights","name":"Ecosystem Insights","type":"RICH-ARTICLE-TOPIC","order":0}],"tags":[{"name":"Women leaders","slug":"women-leaders","order":0,"path":"/tag/women-leaders"},{"name":"women leaders India","slug":"women-leaders-india","order":1,"path":"/tag/women-leaders-india"}]},"snippets":null,"trailers":null,"path":"/2022/03/women-jobs-aditi-kothari-desai-dsp-investment-managers","featured":true,"mobilePostJson":[{"contentType":"text","value":{"formats":{"bold":true},"data":"Aditi Kothari Desai "}},{"contentType":"text","value":{"formats":{},"data":"is the Vice Chairperson of "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"DSP Investment Managers"}},{"contentType":"text","value":{"formats":{},"data":" Pvt. Ltd. (DSPIM). She also heads Sales and Marketing, and serves as a member of the Executive Committee.\n\nShe leads financial wellness initiatives at DSPIM and was instrumental in launching Winvestor, a special initiative aimed at empowering women with confidence and financial knowledge to plan for their economic and long-term security.\n\nWith a bachelor’s degree in Economics from the Wharton School, University of Pennsylvania, and an MBA from Harvard Business School, Aditi started her professional journey in 1998 with Merrill Lynch’s investment banking group in New York, where she primarily worked on M&A activities in the Financial Institutions Group. \n\nSubsequently, she worked in DSP Merrill Lynch as part of the fixed income sales team and later joined DSP Merrill Lynch Fund Managers in 2002 (now DSPIM), where she worked on various projects, including establishing an offshore fund for foreign investors.\n\nApart from being an Independent Director at Godrej Agrovet, she serves on the Board of DASRA, a leading strategic philanthropy foundation in India. \n\nA wildlife enthusiast since the age of 10, Aditi is also a trustee at the Wildlife Conservation Trust (WCT), a non-profit-organisation that focuses on saving India’s forests and wildlife. She is also a trustee in the Hemendra Kothari Foundation and Shah PJ Kothari and Shah MVMVB School. \n\nIn an interaction with "}},{"contentType":"text","value":{"formats":{"bold":true,"italic":true},"data":"HerStory"}},{"contentType":"text","value":{"formats":{"bold":true},"data":","}},{"contentType":"text","value":{"formats":{},"data":" Aditi speaks about her journey into the world of sales, her career, learnings, her role at DSP Investment Managers, and a word of advice for women interested in investment management. \n\nEdited excerpts from the interview:\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/Aditijpg3-1648129195734.jpeg","caption":"\u003cp>Aditi Kothari Desai\u003c/p>"}},{"contentType":"alsoRead","value":{"title":"The consumer lies at the centre of all our decisions: Manish Malhotra and Sukhleen Aneja on luxury make-up brand ","thumbnail":"https://images.yourstory.com/cs/4/a9efa9c02dd911e9adc52d913c55075e/NewManishMalhotra-1648129297211.jpeg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/herstory/2022/03/manish-malholtra-beauty-make-up-sukhleen-aneja-myglamm"}},{"contentType":"text","value":{"formats":{"header":3},"data":"HerStory (HS): Tell us about your early years, and how you got interested in sales?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Aditi Kothari Desai (AKD):"}},{"contentType":"text","value":{"data":" I was born and brought up in Mumbai. My father has always been in the financial services business and so was my family. I am the fifth generation.\n\nI was always interested in business because I saw my father doing it, but I just didn’t understand what he did.\n\nWhile in school, my friends would say that their father was an engineer, a doctor, or a lawyer, but I didn’t really know what my father did because he was a merchant banker. And people didn’t know what that was, and so, I was determined to understand that. \n\nI was lucky to get into Wharton for my under-graduation, where I majored in finance. I also enjoyed management and was more interested in business. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"And now, I am with a mutual fund, which is like a combination of B2B, B2C, business and finance. So, there was no better option to me than investment management. "}},{"contentType":"text","value":{"formats":{"header":3},"data":"HS: Tell us about your college life and how it shaped the decisions you made? \n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"ADK:"}},{"contentType":"text","value":{"data":" I did my undergrad in the US at Wharton, and the great thing about American education is that it allows you to take all kinds of courses in different fields. \n\nFor instance, at Wharton, you can take up to half the number of courses required outside the school. I also took Russian History and political history of Russia, the USA, and China. In a way, they are all relevant to everything happening today. I also took French in addition to all the usual classes. \n\nAs I majored in finance, I took my finance classes and valuation classes as well. I liked fixed income and took classes on fixed income, accounting, risk, and corporate law. \n\nIt was interesting and something I would encourage everyone to do if they can and they want to. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"College gave me a lot of confidence. It gave me the confidence to be independent, and so, it had a huge influence on me. I also give my parents a lot of credit because they always encouraged me to be independent from the very beginning. "}},{"contentType":"text","value":{"formats":{"header":3},"data":"HS: Tell us the different positions you held and what were your learnings from each of these places?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"ADK:"}},{"contentType":"text","value":{"data":" My first job was as an intern at Merrill Lynch in New York at the age of 20. I was on the debt capital market side. I think I just really learnt about the commitment that is needed for something like this. \n\nThe first lesson I learnt was to just show up. Everyone was so busy and no one was going to sit and help me. So it just made me feel resourceful and independent. \n\nOnce, I had to make some charts and I asked how do I do it? It was 1996, and internet was very new then to search and figure out. They gave me a book on Excel and said figure it out. And that is exactly the kind of training we all need. \n\nDon’t expect someone to help you in your job. Neither is it their responsibility to help you, nor should you feel entitled to get help. You must be responsible and resourceful and take initiative. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"Later, I worked in equity capital markets, and then I did investment banking for two years. It was tough because sometimes I didn’t go home for two days. I think that is inhumane and I would never do that, and I wouldn’t expect that from my employees. I also realised that I could work hard and produce amazing work. "}},{"contentType":"text","value":{"formats":{},"data":"There was a lot of attention given to detail and there was no room for mistakes or to say no. You just had to do it. So, anything I did after that was a breeze. \n\nI also learnt what I should expect from employees and what I should not. So those were some great lessons and a superb foundation. \n\nLater, I was at DSP doing fixed income and we were still DSP Merrill Lynch. Here, I learnt a lot of basics about Indian fixed income market and how things work. Again, it was quite an ambiguous role. No one was going to define anything for me. So, I had to make it on my own. Frankly, I was thrown into the deep end and I had to learn how to swim. \n"}},{"contentType":"alsoRead","value":{"title":"How Deepika Nagasamy of the Rs 200-cr Dindigul Thalappakatti Biriyani brand was able to empower women leaders\r\n","thumbnail":"https://images.yourstory.com/cs/4/a9efa9c02dd911e9adc52d913c55075e/800x400DeepikaNagasamy-03-1647858466487.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/herstory/2022/03/herstory-woman-on-a-mission-deepika-nagasamy-of-the-rs-200-cr-dindigul-thalappakatti-biriyani"}},{"contentType":"text","value":{"formats":{"header":3},"data":"HS: What was your experience and learnings from your previous organisations? \n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"ADK: "}},{"contentType":"text","value":{"formats":{},"data":"After DSP, I moved to the Asset Management Company in 2002. I always wanted to do something in B2C – just doing one transaction via an M&A deal or an IPO or the like never really excited me. It wasn’t as fulfilling as something more long term and something more connected to the end audience. And so I think the asset management space made sense to what I like - business, finance, and B2C. \n\nIn that connection, I started a couple of international funds. I think in the first year we had raised almost $1.5 billion and $1.7 billion between two funds. No one thought we’d ever raise so much money. One was listed in Luxembourg and the other was listed in Japan. I thought of the idea and actually enabled its structure and everything from scratch. \n\nThen I went to business school, where I spent two years. I was in Boston at Harvard Business School. I came back and I tried to implement certain things that I had learnt. I tried to create competitions in sales. I created groups in sales because I thought younger people should also be given leadership opportunities. Even though I wasn’t in sales back then, these were all my suggestions which then happened. When the marketing head left in 2011, I got a role to head marketing, which I love. \n\nIn 2012 I realised that marketing and digital go hand-in-hand. So, we thought of digital marketing way before a lot of our peers. We realised that we needed an online sales area and hired people, and we had everything in-house, which is completely different from other people. \n\nWe didn’t want to outsource anything because I felt that we need to be in control of the actual source code because it minimises bugs in the long run. That was an instinct I had, and I think we were correct. \n\nWe are the only AMC that recruits developers at this scale and have them in house to produce because we realised how important a USP that is. So, I learnt a lot from all the different areas I’ve done. \n"}},{"contentType":"alsoRead","value":{"title":"Meet Oxyzo Co-founder and CEO Ruchi Kalra — one of the rare women unicorn founders \r\n\r\n","thumbnail":"https://images.yourstory.com/cs/4/a9efa9c02dd911e9adc52d913c55075e/RuchiKalra-1648046497056.jpeg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/herstory/2022/03/oxyzo-ceo-ruchi-kalra-women-entrepreneur-unicorn-startup"}},{"contentType":"text","value":{"formats":{},"data":"I then became head of sales and marketing and e-business. Overall, I have grown up the ranks and learnt a lot. I have also learnt how important MIS and numbers are and the accuracy of it, paying attention to, taking your cues from and really working from it. \n\nI also learnt a lot about different cultures. How you speak to people in the US and how you speak to people in India is completely different because they interpret it in different ways -- the words you use and the choice of words. \n\nI realised that as a leader, you have to get to the middle ground. I learnt a lot from all this, and also being able to talk more to the international audience. So, all my experiences have really helped me, and I continue to learn more. \n"}},{"contentType":"text","value":{"formats":{"header":3},"data":"HS: Why did you join DSP Investment Managers and what compelled you to do so?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"ADK:"}},{"contentType":"text","value":{"formats":{},"data":" For me, firstly it was a family-run company, so me being the oldest child always felt the sense of responsibility. Another thing that compelled me was that I like the B2C business. I didn’t really feel like I could work for a very transactional based company or a transactional based industry. I preferred the B2C element, which is what the mutual fund or the asset management division had to offer. So I was happy to be there. I joined DSP Investment Managers in November 2020. \n"}},{"contentType":"alsoRead","value":{"title":"BabyChakra acquires TinyStep, earmarks Rs 100 cr to build India's largest mom-baby content platform in 3 years \r\n","thumbnail":"https://images.yourstory.com/cs/4/a9efa9c02dd911e9adc52d913c55075e/BabyChakra-1648010317334.jpeg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/herstory/2022/03/babychakra-acquires-tinystep-earmarks-rs100-cr-mom-baby-content-good-glamm"}},{"contentType":"text","value":{"formats":{"header":3},"data":"HS: What is your role at DSP Investment managers?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"ADK"}},{"contentType":"text","value":{"formats":{},"data":": My core role at DSP Investment Managers is managing all sales functions. There are three important pillars in any asset management company. One is the investment function, the other is the back office - operations, financials, and the accounting of the net asset value, which is the price of every unit or every fund that we sell. We have to record that every day and do it precisely. \n\nThe third pillar is the actual business, selling these units, and selling mutual funds. I head the entire sales area, both offline and online, and all the marketing that goes with it. I am now going to be working much more on the strategy front. \n"}},{"contentType":"text","value":{"formats":{"header":3},"data":"HS: What are your plans ahead?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"ADK:"}},{"contentType":"text","value":{"formats":{},"data":" My vision is to make DSP the most trusted mutual fund house. Eventually, it will become much larger than what it is today because people trust us. \n\nOur main focus should be the investors, their returns, and doing the right thing, selling the right product, at the right time, to the right person, for the right reason. If we can get that right, then everything else flows from it. \n\nSo my vision is to make DSP an even more trusted brand, and it is as digitalised as possible. \n\nWe do cut down a lot of mundane tasks and we make it easy for investors to access us through their distributors or directly. The focus would be on making it easy for both our partners and our end clients to be able to engage with DSP in as digital a manner as possible.  \n"}},{"contentType":"text","value":{"formats":{"header":3},"data":"HS: What advice would you give young women interested in the field, and how do you think we can encourage more women in the segment?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"ADK:"}},{"contentType":"text","value":{"data":" I would tell them firstly that any job you take must be taken seriously. If you think of it as a job that is going to give you money till your marriage or you have kids, then you know you will never invest fully into it and then people who invest in you will be disappointed. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"So, make it very clear from the beginning that this is going to be a career and not just a job. "}},{"contentType":"text","value":{"formats":{},"data":"A good thing is that we are having a lot of women interested in the field, but they are more interested in sales and marketing. We don’t see enough women invested in the investment management areas. \n\nMaybe women prefer not to be on that side because of the biases they may have. But one needs to break the biases. And if you are a commerce student and a finance student, or if you are doing your CA, get deeper into understanding the valuation of companies and how the markets work. \n\nJust get interested in the principles of investing. Because not only are you going to be helping thousands or lakhs of investors, but you are going to be helping yourself to manage your own money better. \n"}}],"timeLapsed":"25th Mar 2022","publishedDate":"March 25, 2022"},{"id":236377,"title":"Women have an intuitive relationship with money; they just need to reclaim it: Salt co-founders","slug":"fintech-salt-women-intuitive-relationship-money","type":"RICH","subtitle":"Shinjini Kumar, Chaitra Chidanand, and Aditi Sholapurkar, Co-founders of women-focused financial planning and investment app Salt, join YourStory’s Shradha Sharma in a candid and revealing chat.","publishedAt":"2022-03-17T10:30:00.078Z","updatedAt":"2022-03-19T04:50:22.967Z","brand":{"name":"YourStory","slug":"yourstory","locale":"en_GB","path":"/"},"metadata":{"authors":[{"name":"Ekta Desai","username":"ekta-desai","order":0,"path":"/author/ekta-desai"},{"name":"Anju Narayanan","username":"anju-narayanan-61","order":1,"path":"/author/anju-narayanan-61"}],"category":{"id":359,"name":"Interview","slug":"ys-interview","path":"/category/ys-interview"},"excerpt":"Shinjini Kumar, Chaitra Chidanand, and Aditi Sholapurkar, Co-founders of women-focused financial planning and investment app Salt, join YourStory’s Shradha Sharma in a candid and revealing chat.","media":"https://images.yourstory.com/cs/2/3834ef70ca8011eba0afddaa6974ca30/SALT800x400copy-1647502683690.png","thumbnail":"https://images.yourstory.com/cs/2/3834ef70ca8011eba0afddaa6974ca30/SALT800x400copy-1647502683690.png","defaultThumbnail":"https://images.yourstory.com/cs/2/3834ef70ca8011eba0afddaa6974ca30/SALT800x400copy-1647502683690.png","brandSpotlight":null,"removeAds":null,"curatedCategories":[],"sponsoredStory":null,"isRegistrationRequired":false,"timeToRead":7,"articleTopics":[],"richArticleTopics":[{"id":"991ecc33-663e-11eb-b571-b76e0f3e580d","slug":"general-news","name":"General News","type":"RICH-ARTICLE-TOPIC","order":0}],"tags":[{"name":"fintech","slug":"fintech","order":0,"path":"/tag/fintech"},{"name":"women-led startups","slug":"women-led-startups","order":1,"path":"/tag/women-led-startups"},{"name":"Women-centric fintech","slug":"women-centric-fintech","order":2,"path":"/tag/women-centric-fintech"},{"name":"SALT","slug":"salt","order":3,"path":"/tag/salt"},{"name":"Shinjini Kumar","slug":"shinjini-kumar","order":4,"path":"/tag/shinjini-kumar"},{"name":"Chaitra Chidanand","slug":"chaitra-chidanand","order":5,"path":"/tag/chaitra-chidanand"},{"name":"Aditi Sholapurkar","slug":"aditi-sholapurkar","order":6,"path":"/tag/aditi-sholapurkar"},{"name":"financial planning","slug":"financial-planning","order":7,"path":"/tag/financial-planning"},{"name":"investment app","slug":"investment-app","order":8,"path":"/tag/investment-app"},{"name":"BNPL","slug":"bnpl","order":9,"path":"/tag/bnpl"}]},"snippets":null,"trailers":null,"path":"/2022/03/fintech-salt-women-intuitive-relationship-money","featured":true,"mobilePostJson":[{"contentType":"text","value":{"formats":{},"data":"Financial planning and investment app Salt has been "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"on a mission to get women to reclaim what they’ve always had - an inherent acumen for money"}},{"contentType":"text","value":{"formats":{},"data":". More women making more financial decisions - it’s as simple as that, but how does one get there?"}},{"contentType":"text","value":{"formats":{},"data":"\n\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Shinjini Kumar, Chaitra Chidanand, and Aditi Sholapurkar"}},{"contentType":"text","value":{"formats":{},"data":", who have all had successful and rewarding stints in financial institutions, came together in early 2021 with a mission to help women make better money and investment choices, and in the process, really listen to the customer and tap into their money psyche."}},{"contentType":"text","value":{"formats":{},"data":"\n\n"}},{"contentType":"text","value":{"formats":{},"data":"And their first step was to build a "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"money personality quiz"}},{"contentType":"text","value":{"formats":{},"data":"."}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"youtube","value":{"id":"tZJQ6cCTJMw"}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{},"data":"In an exclusive and fun conversation with "}},{"contentType":"text","value":{"formats":{"bold":true,"italic":true},"data":"YourStory’s "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Founder and CEO, Shradha Sharma"}},{"contentType":"text","value":{"formats":{},"data":", the trio talk about "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"what spurred the decision to leave cushy jobs and embark on an adventure together"}},{"contentType":"text","value":{"formats":{},"data":", their plans for Salt and of course, the concept behind the moniker."}},{"contentType":"text","value":{"formats":{},"data":"\n\n"}},{"contentType":"text","value":{"formats":{},"data":"According to Shinjini, that "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"women have an intuitive relationship with money"}},{"contentType":"text","value":{"formats":{},"data":" is well-known."}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“But that doesn’t get recognised in the formal financial system, because in the formal system, what gets recognised is balance sheets, assets ownerships, and paperwork,” Shinjini says."}},{"contentType":"text","value":{"formats":{},"data":"Chaitra points out that in the earlier days, the "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"‘"}},{"contentType":"text","value":{"formats":{"bold":true,"italic":true},"data":"tijori ki chaabi"}},{"contentType":"text","value":{"formats":{"italic":true},"data":"’"}},{"contentType":"text","value":{"formats":{},"data":", or keys to the locker, was always with the woman of the household, but "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"with time, assets have moved from physical forms of grain, gold or cash in the house to banks and more abstract forms"}},{"contentType":"text","value":{"formats":{},"data":"."}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“The movement of the assets out of the household has really led to the distance between women and money,” says Chaitra."}},{"contentType":"text","value":{"formats":{},"data":"That is why, the three founders believe "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"it’s more about reclaiming as opposed to “empowering” women"}},{"contentType":"text","value":{"formats":{},"data":", and adapting to the new world of how money decisions are made today.\n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"What’s in a name? \n"}},{"contentType":"text","value":{"formats":{},"data":"The way "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"women’s relationship with money is intuitive, essential, and also invisible"}},{"contentType":"text","value":{"formats":{},"data":", made complete sense, so "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"the name ‘Salt’ just presented itself"}},{"contentType":"text","value":{"formats":{},"data":", says Shinjini. \n\n“It was almost like we were discussing these concepts and "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"salt represents all these three things"}},{"contentType":"text","value":{"formats":{},"data":",” informs Shinjini.\n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Tapping the money psyche \n"}},{"contentType":"text","value":{"formats":{},"data":"Elaborating on Salt’s flagship money personality test, the founders’ say "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"the idea was always to listen"}},{"contentType":"text","value":{"data":".\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“Before you can even reach the point of money actions, you need to tap into a person's money psyche, their money feelings, their money habits and then you can possibly influence actions,” Aditi says."}},{"contentType":"text","value":{"formats":{},"data":"Chaitra recalls how those early conversations with many women across the spectrum to understand their financial constraints and needs were meant to shape their first product. Interestingly, these "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"sessions turned out to be an eye opener of sorts"}},{"contentType":"text","value":{"formats":{},"data":" when the women in turn, thanked them for their professional time and expertise. \n\n“We discovered the reason they were thanking us was because this was the "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"first time they were actually thinking and talking about money"}},{"contentType":"text","value":{"formats":{},"data":",” says Chaitra.\n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"What are the learnings so far?\n"}},{"contentType":"text","value":{"formats":{},"data":"For Chaitra, who had earlier co-founded Buy Now Pay Later (BNPL) fintech startup "}},{"contentType":"companyWidget","value":{"id":"f8fd5290-7a38-11ea-8492-451845b0e390","name":"Simpl","slug":"simpl","logo":{"url":"https://images.yourstory.com/cs/images/companies/logo-1586419566293.jpg","width":699,"height":522,"imageKey":"cs/images/companies/logo-1586419566293.jpg"},"subtitle":"Simpl empowers any merchant, large and small, to build a trusted relationship with their consumer one transaction at a time via 1-click checkout, POS credit, and targeted loyalty rewards, all packed into a cohesive consumer experience at checkout.","foundingDate":"2015-02-02","companyURL":"https://yourstory.com/companies/simpl","companyCoreTeam":[{"name":"Nityanand Sharma"}],"sectors":[{"name":"FinTech","slug":"fintech"}]}},{"contentType":"text","value":{"formats":{},"data":"in 2014, one of the "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"biggest insights as a second-time entrepreneur was that armchair innovation is not enough"}},{"contentType":"text","value":{"data":". \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“You need to listen and build, and when you listen and build, you actually end up creating magic, and virality starts happening, adoption starts going crazy,” Chaitra says."}},{"contentType":"text","value":{"formats":{},"data":"So, one needs to invest that care and thoughtfulness to build what is needed, and "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"not a copy-paste of something that worked for someone"}},{"contentType":"text","value":{"formats":{},"data":", or something that worked in a certain geography so one should not comfortably create the same thing for other geographies, she affirms.\n\nBefore setting up Salt, the co-founders conducted several "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Proof of Concepts (POCs)"}},{"contentType":"text","value":{"formats":{},"data":" with small groups of women, and have continued to do iterations thereafter. Even now, there are strict guidelines around what Salt employees can and cannot do while collecting feedback.\n"}},{"contentType":"alsoRead","value":{"title":"Meet the women scripting history at HerStory’s Women on a Mission 2022 \r\n","thumbnail":"https://images.yourstory.com/cs/4/a9efa9c02dd911e9adc52d913c55075e/WOAM-03-1641974281596.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/herstory/2022/03/herstory-women-on-a-mission-summit-leaders-entrepreneurs"}},{"contentType":"text","value":{"formats":{},"data":"“"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Design thinking science"}},{"contentType":"text","value":{"formats":{},"data":" is really what we are applying here, and we think that will help enable us to create a product that will sell itself in the end,” says Chaitra.\n\nAditi, who has worked with Bank of America, Citi, Paytm Payments Bank and Goldman Sachs adds, “We started in the reverse order, and our "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"number one employee was a data scientist"}},{"contentType":"text","value":{"formats":{},"data":".” She is alluding to the fact that a lot of times "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"entrepreneurs tend to build a product first, and then look at data as an afterthought"}},{"contentType":"text","value":{"formats":{},"data":".\n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"How to make partnerships work?\n"}},{"contentType":"text","value":{"formats":{},"data":"When asked about the "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"dynamics between the three women founders"}},{"contentType":"text","value":{"formats":{},"data":" and making that partnership work, the easy retort and laughter that follows gives away the energy between the trio.\n\nAccording to Chaitra, this beautiful partnership is a huge "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"function of who they are as individuals and their value systems"}},{"contentType":"text","value":{"data":".\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“Because you end up spending so much time together, the value system resonance is very critical,” says Chaitra."}},{"contentType":"text","value":{"formats":{},"data":"She also underlines the need for "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"developing the habit of having difficult and uncomfortable conversations"}},{"contentType":"text","value":{"formats":{},"data":" with each other. \n\n“If you don't "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"do that on day zero or minus one"}},{"contentType":"text","value":{"formats":{},"data":", it never happens,” she says. “I have seen so many entrepreneurs defer that part to later, and it only gets worse, it creates a dynamic that's not sustainable, and then you're leaving it to chance.”\n\nDespite knowing each other so well, the three co-founders consciously spent three full months of 2020 just talking to each other. “While we were exploring the problem space, we were "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"also exploring the partnership space"}},{"contentType":"text","value":{"formats":{},"data":",” says Chaitra.\n\nThey also took a diligent approach to "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"writing things down"}},{"contentType":"text","value":{"data":".\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“We didn't leave it to just conversations that we are having because when you're forced to write things down, you’re forced to think a lot more deeply and clearly about it,” Chaitra adds."}},{"contentType":"text","value":{"formats":{},"data":"While Shinjini appreciated those long conversations, she says she also had a lot to learn from Chaitra's earlier experiences. “Because she was the entrepreneur among us, and Aditi and I were from professional backgrounds where things get resolved in a very different way,” says Shinjini. “We do have a way to be "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"able to say things"}},{"contentType":"text","value":{"formats":{},"data":" to each other "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"without messing it up"}},{"contentType":"text","value":{"formats":{},"data":" for each other.”\n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Their relationship with money\n"}},{"contentType":"text","value":{"formats":{},"data":"With three women founders on board a financial platform, it is inevitable that we ask them about "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"their own relationship with money"}},{"contentType":"text","value":{"data":". And the answers were revealing.\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“The way I thought about money turned it into a toxic relationship, to a point where it was the last thing I wanted to think about. That’s why I had absolutely no relationship with my own money,” says Aditi."}},{"contentType":"text","value":{"formats":{},"data":"Shinjini, who has had an 18-year-long stint with the Reserve Bank of India (RBI), believes there is no such thing as competence involved in managing your money; it's about understanding your life, your priorities, your systems, and just going ahead and making the right money decisions. \n\n“For me"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" time, money, and relations are all wealth"}},{"contentType":"text","value":{"formats":{},"data":", so I must always have all these three things in my mind before I take any decision. I always feel the "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"best things in life are free"}},{"contentType":"text","value":{"formats":{},"data":", so you have to learn how to enjoy your life with that,” says Shinjini.\n\nGiven her engineering background, Chaitra says she was always comfortable with technical theory, but studying and nearly failing in accounting during her business studies at Stanford saw her develop a deep phobia for industrial finance. “That "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"phobia was so deep"}},{"contentType":"text","value":{"formats":{},"data":" that I did not make a single conscious investment till 2013.” \n\nChaitra's single conscious investment was $2,000 in Tesla, which she sold for a ‘fantastic return’ six years later in 2019.\n"}}],"timeLapsed":"17th Mar 2022","publishedDate":"March 17, 2022"},{"id":237057,"title":"[YS Exclusive] Karnataka to be world's 'most important state' in digital economy: KDEM's Sanjeev Gupta","slug":"exclusive-kdem-ceo-1-trillion-digital-economy-driven-emerging-cities","type":"RICH","subtitle":"Karnataka Digital Economy Mission's Sanjeev Gupta talked about the goals of the body, partnerships with the industry, and talent development initiatives.","publishedAt":"2022-03-17T08:30:00.584Z","updatedAt":"2022-03-22T07:05:16.619Z","brand":{"name":"YourStory","slug":"yourstory","locale":"en_GB","path":"/"},"metadata":{"authors":[{"name":"Tarutr Malhotra","username":"tarutr-malhotra-60","order":0,"path":"/author/tarutr-malhotra-60"}],"category":{"id":359,"name":"Interview","slug":"ys-interview","path":"/category/ys-interview"},"excerpt":"Karnataka Digital Economy Mission's Sanjeev Gupta talked about the goals of the body, partnerships with the industry, and talent development initiatives","media":"https://images.yourstory.com/cs/2/604090802d6d11e9aa979329348d4c3e/KDEM-1647498930348.png","thumbnail":"https://images.yourstory.com/cs/2/604090802d6d11e9aa979329348d4c3e/KDEM-1647498930348.png","defaultThumbnail":"https://images.yourstory.com/cs/2/604090802d6d11e9aa979329348d4c3e/KDEM-1647498930348.png","brandSpotlight":null,"removeAds":null,"curatedCategories":[],"sponsoredStory":null,"isRegistrationRequired":false,"timeToRead":5,"articleTopics":[],"richArticleTopics":[{"id":"991ecc30-663e-11eb-b571-b76e0f3e580d","slug":"ecosystem-insights","name":"Ecosystem Insights","type":"RICH-ARTICLE-TOPIC","order":0}],"tags":[{"name":"Just In","slug":"news","order":0,"path":"/tag/news"},{"name":"Karnataka Digital Economy Mission","slug":"karnataka-digital-economy-mission","order":1,"path":"/tag/karnataka-digital-economy-mission"},{"name":"KDEM","slug":"kdem","order":2,"path":"/tag/kdem"},{"name":"Startup Ecosystem","slug":"startup-ecosystem","order":3,"path":"/tag/startup-ecosystem"},{"name":"Jobs","slug":"jobs","order":4,"path":"/tag/jobs"},{"name":"vocational training","slug":"vocational-training","order":5,"path":"/tag/vocational-training"},{"name":"digital economy","slug":"digital-economy","order":6,"path":"/tag/digital-economy"}]},"snippets":null,"trailers":null,"path":"/2022/03/exclusive-kdem-ceo-1-trillion-digital-economy-driven-emerging-cities","featured":true,"mobilePostJson":[{"contentType":"text","value":{"formats":{},"data":"The "}},{"contentType":"companyWidget","value":{"id":"2e343ff0-a60b-11ec-81b2-7fa8a1addb1f","name":"Karnataka Digital Economy Mission(KDEM)","slug":"karnataka-digital-economy-missionkdem","logo":{"height":300,"width":300,"imageKey":"cs/images/companies/KDEM1-1647533653551.jpg","url":"https://images.yourstory.com/cs/images/companies/KDEM1-1647533653551.jpg"},"subtitle":"The Karnataka Digital Economy Mission is a non-profit organization created to serve as a knowledge bridge between the state government and industry","foundingDate":"2021-06-01","companyURL":"https://yourstory.com/companies/karnataka-digital-economy-missionkdem","companyCoreTeam":[{"name":"Sanjeev Kumar Gupta"}],"sectors":[{"name":"Government & Military","slug":"government-military"}]}},{"contentType":"text","value":{"formats":{},"data":" is tasked with an ambitious target to help develop the state's startup ecosystem beyond Bengaluru to help the national "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"$1 trillion digital economy target set for 2025"}},{"contentType":"text","value":{"formats":{},"data":".\n\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Acting CEO Sanjay Gupta is 100 percent"}},{"contentType":"text","value":{"data":" confident his team can help achieve this target. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"He says, \"I firmly believe that this [target] can only be realised if Karnataka stands up.\" "}},{"contentType":"text","value":{"formats":{},"data":"Gupta sat down with "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"YourStory"}},{"contentType":"text","value":{"formats":{},"data":" to discuss the strategy that KDEM has been building for the last few months, and how it plans to execute it going forward.\n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"\"The Spoke Shore\" strategy\n"}},{"contentType":"text","value":{"data":"Gupta was very clear that if Karnataka and the rest of India want going to reach the trillion-dollar target, it has to look beyond the metro cities. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"\"The $1 trillion economy cannot come from Bengaluru, from Delhi, or from Kolkata,\" he says, \"It will be driven by the emerging cities.\""}},{"contentType":"text","value":{"formats":{},"data":"To help empower growth in the emerging cities, or 'clusters' as Gupta emphasises, KDEM has designed what he calls \"the Spoke Shore strategy\".\n\nThis entails building a startup ecosystem in three major state regions — the "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Mysuru "}},{"contentType":"text","value":{"formats":{},"data":"cluster, the"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" Mangaluru cluster"}},{"contentType":"text","value":{"formats":{},"data":", and the "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Hubli-Dharwad"}},{"contentType":"text","value":{"formats":{},"data":" cluster.\n\nKDEM believes that since a lot of Bengaluru's engineering talent comes from these emerging cities, and people are used to working remotely today, there is no reason why the Indian startup ecosystem can't create a hub-and-spoke model for its operations.\n\nEven if companies create headquarters in larger cities, there are significant advantages to building out \"spokes\" for operations in these urban clusters. \n\nKDEM believes its mission is to convince the industry to take a bet on these three clusters specifically.\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/220356402d6d11e9aa979329348d4c3e/Nasscom-image-1-1643118467074.png"}},{"contentType":"alsoRead","value":{"title":"Karnataka government strengthens its Global Innovation Alliance programme ahead of Bengaluru Tech Summit 2021","thumbnail":"https://images.yourstory.com/cs/2/2d86ed30b28211e8b2e7114aea10c711/Imageii0c-1636975218232.jpg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2021/11/bengaluru-tech-summit-2021-government-strengthens-global-innovation-alliance-programme"}},{"contentType":"text","value":{"formats":{"header":2},"data":"\"Mapping the emerging cities\"\n"}},{"contentType":"text","value":{"data":"According to Gupta, the biggest disadvantage regions outside Bengaluru have is a lack of consolidated information on their cities. \n\nFrom liveability indexes such as the local education or health infrastructure to real estate prices to plug-and-play options for startups, to documentation on the available policies startups can avail themselves of, KDEM has taken it upon itself to compile this information and get it in front of the right people.\n\nThe team has reached the granular level of trying to foster a local ecosystem by introducing local startups to each other.\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"As Gupta puts it, \"To make these startups come together, they should know what other startups are doing.\""}},{"contentType":"text","value":{"formats":{},"data":"Additionally, KDEM has also worked on bringing VCs to the startups in these emerging clusters to encourage founders to continue building in their towns. \n\nFinally, Gupta says KDEM also has the buy-in of multiple industry leaders in each cluster, creating an engaged semi-official local board for each region.\n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Creating \"face value\" for the clusters\n"}},{"contentType":"text","value":{"data":"In addition to selling local talent and larger industry members on the value of the emerging clusters, KDEM is also looking at developing a \"face value\" for each region.\n\nAccording to Gupta, if the global startup ecosystem can recognise the three regions for particular expertise, it will be easier to attract talent, founders and investors.\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"\"In Mysuru, we're trying to put together a cybersecurity innovation hub of the world. In Mangaluru we're putting together a fintech hub for the world, and Hubli-Dharwad we're putting an AI innovation hub,\" said Gupta."}},{"contentType":"text","value":{"formats":{},"data":"Mangaluru's strong history of banking services, Mysuru's qualitative strength in engineering and relationship with Israel, and the great AI work fostered by the Deshpande Foundation Incubation Centre in Hubli were regions for selecting these particular industries.\n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Short-term initiatives\n"}},{"contentType":"text","value":{"data":"While KDEM is planning a lot of these strategies looking 3-5 years into the future, it is also working on building short-term impact.\n\nIt is already interacting with large tech companies like Accenture and IBM, and the latter has even set up a client solutions centre in Mysuru.\n\nAI firm iMerit opened up an engineering centre in Hubli, aiming to hire 50 people to start with. In under a year, it hired 200, and Gupta expects them to hire another 1,000 in the next year or so.\n\nAdditionally, KDEM has also built a programme to help deliver a holistic educational experience for college students to improve their ability to land jobs. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"According to Gupta, \"There are jobs available by employers, and [we are] reaching out to students in Karnataka in Tier II and III cities, and training them over six months.\""}},{"contentType":"text","value":{"data":"This training is working, as multiple students have been able to land jobs at large corporations, including some who have even been able to get annual starting salaries of up to Rs 7 lakh.\n\nAccording to 2021 graduate Deepti B.S. of Mangaluru, the KDEM training was invaluable to help translate her college education into a job. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"When applying for jobs post graduation, Deepti said, \"The initial [KDEM] training gave me the confidence to clear the job assessment, and I got placed in the company.\""}},{"contentType":"text","value":{"formats":{},"data":"According to Gupta, KDEM's work so far has largely been to develop a strategy and test it out. Today, it is focused on executing the strategy.\n\n\"The strategy is in place, and it is an accepted strategy. We just need to scale this strategy,\" he adds.\n\nGoing forward, while KDEM is currently focussed on the 2025 $1 trillion digital economy target, Gupta is convinced that the goalposts will shift by then — with a $5 trillion economy target in 2030, and maybe even a metaverse target soon after.\n\nHowever, Gupta is sure of one aspect. With the work KDEM is doing, he says, \"Karnataka is going to be the most important state in the digital economy in India, and the world.\"\n"}}],"timeLapsed":"17th Mar 2022","publishedDate":"March 17, 2022","editorsPickTitle":"Karnataka to be world's 'most important state' in digital economy","editorsPickSubtitle":"Karnataka Digital Economy Mission's Sanjeev Gupta talked about the goals of the body, partnerships with the industry, and talent development initiatives.","editorsPickStartTime":"2022-03-17T06:30:00.000Z","editorsPickEndTime":"2022-03-17T09:30:00.000Z"},{"id":235769,"title":"India story is driven by its people and its businesses: Manoj Ladwa, Chairman of India Inc","slug":"india-story-people-businesses-global-forum-startups-investor","type":"RICH","subtitle":"The two-day summit in Bengaluru by India Global Forum will showcase strides made by the startup ecosystem and deliberate on the way forward. In a conversation with YourStory, Professor Manoj Ladwa, Chairman of India Inc, spoke about the forums' plans.","publishedAt":"2022-03-06T13:48:33.244Z","updatedAt":"2022-03-06T15:45:03.857Z","brand":{"name":"YourStory","slug":"yourstory","locale":"en_GB","path":"/"},"metadata":{"authors":[{"name":"Sindhu Kashyaap","username":"sindhu-kashyap","order":0,"path":"/author/sindhu-kashyap"}],"category":{"id":359,"name":"Interview","slug":"ys-interview","path":"/category/ys-interview"},"excerpt":"The two-day summit in Bengaluru by India Global Forum will showcase strides made by the startup ecosystem and deliberate on the way forward. ","media":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/Manoj-1646571582766.jpeg","thumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/Manoj-1646571582766.jpeg","defaultThumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/Manoj-1646571582766.jpeg","brandSpotlight":null,"removeAds":null,"curatedCategories":[],"sponsoredStory":null,"isRegistrationRequired":false,"timeToRead":4,"articleTopics":[],"richArticleTopics":[{"id":"991ecc30-663e-11eb-b571-b76e0f3e580d","slug":"ecosystem-insights","name":"Ecosystem Insights","type":"RICH-ARTICLE-TOPIC","order":0}],"tags":[{"name":"India Global Forum 2022","slug":"india-global-forum-2022","order":0,"path":"/tag/india-global-forum-2022"},{"name":"Bangalore Startups","slug":"bangalore-startups","order":1,"path":"/tag/bangalore-startups"}]},"snippets":null,"trailers":null,"path":"/2022/03/india-story-people-businesses-global-forum-startups-investor","featured":false,"mobilePostJson":[{"contentType":"text","value":{"formats":{},"data":"A two-day annual summit by "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"India Global Forum with the theme “The New India Inc” "}},{"contentType":"text","value":{"formats":{},"data":"aims to bring together policymakers, union cabinet ministers, and founders of unicorns and startups to discuss the goals to be set, as well as the road ahead for the ecosystem.\n\nThe summit will be held in Bengaluru on "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"March 7 and 8"}},{"contentType":"text","value":{"formats":{},"data":","}},{"contentType":"text","value":{"formats":{"bold":true},"data":" "}},{"contentType":"text","value":{"formats":{},"data":"during which key leaders will engage and deliberate upon the global narrative for India Inc where startups have emerged as the key constituency. \n\n"}},{"contentType":"text","value":{"formats":{"italic":true},"data":"YourStory"}},{"contentType":"text","value":{"formats":{},"data":", India’s leading digital media platform, is the ecosystem partner for this event. \n\nIn a conversation with "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"YourStory"}},{"contentType":"text","value":{"formats":{},"data":", "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Professor Manoj Ladwa, Chairman and Chief Executive of the India Inc. Group,"}},{"contentType":"text","value":{"formats":{},"data":" spoke about the aims of the event and what one can expect from the India Global Forum. Manoj is a visiting professor in Media and Communications at Birmingham City University. \n\nManoj founded India Inc, a London-headquartered media and strategic communications organisation. He is also is a practising corporate lawyer, running his own firm with offices in Westminster and Mumbai. In 2017, he authored a landmark study on UK-India Relations Beyond Brexit. \n\nManoj is a non-executive director of "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"India Infrastructure Finance Company (UK)"}},{"contentType":"text","value":{"formats":{},"data":" and chairs its Risk Committee, and serves on the advisory board of the Commonwealth Enterprise and Investment Council and the Nehru Centre. In 2003, he established the London office of the Federation of Indian Chambers of Commerce. He has served on committees of the UK and Indian governments. \n\nHe is also the founder of the UK India Women in Leadership Forum, the UK India Defence & Security Forum, and the IGB Climate Finance Boardroom amongst other ongoing initiatives. \n"}},{"contentType":"alsoRead","value":{"title":"The New India Inc summit in Bengaluru brings together policymakers and startup founders\r\n\r\n","thumbnail":"https://images.yourstory.com/cs/2/220356402d6d11e9aa979329348d4c3e/startup1-1646378682439.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/03/new-india-inc-summit-bengaluru-brings-policymakers-startup-founders"}},{"contentType":"text","value":{"formats":{"italic":true},"data":"Edited excerpts of the interaction:"}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{"header":3},"data":"YourStory (YS): What is the thesis behind India Global Forum? \n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Prof. Manoj Ladwa (ML): "}},{"contentType":"text","value":{"data":"There are two major globalisation stories. There's the China story and the India story. The China story is predominantly driven by its State. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"Whereas the India story is driven by its people and its businesses and I felt that that story needs to be told through the eyes and ears of the business people, professionals, and techies. The idea is to give a voice to people of Indian origin around the world as they engage and so that's the genesis of this platform to tell a story about India. "}},{"contentType":"text","value":{"formats":{},"data":"There was a need for a platform that talked about business policy, politics, strategic covers, outside of India. We focussed on the UK-India Corridor. The UK is India's largest cumulative investor. India is now the second-largest investor, both in terms of pounds and pennies, but also in terms of new projects as well. It is a partnership between two equals. \n\nWe saw interest around other countries, so it evolved into more of a global gathering. And, so we rebranded about two years ago to India Global Forum. We're lucky enough that Prime Minister Narendra Modi inaugurated India Global Forum.\n\nWe have had interesting people from Tony Blair and Michael Bloomberg to innovators and disruptors that come and speak on our platform. \n"}},{"contentType":"text","value":{"formats":{"header":3},"data":"YS: While it may seem obvious, why Bengaluru? \n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"ML: "}},{"contentType":"text","value":{"formats":{},"data":"We gave a lot of thought to this. A lot of our stakeholders asked us to do it in Mumbai or Delhi, and we really wanted to project the new India Inc. \n\nBangalore is, I think, in many ways, the birthplace of Digital India. Bengaluru has a massive role to play in all tech disruptions around the world. It is a cosmopolitan city, an international city. \n"}},{"contentType":"text","value":{"formats":{"header":3},"data":"YS: How does it to have a hybrid event after two hard years of the pandemic? What do you think will be interesting and different? \n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"ML: "}},{"contentType":"text","value":{"formats":{},"data":"It is has been a hard and terrible two years on a global scale. We've actually had to convince a lot of people that this isn't a virtual event. This is a physical event. We will have "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Finance Minister Nirmala Sitharaman "}},{"contentType":"text","value":{"data":"at the event in person, and 30 unicorns in person. \n\nIn each session, we're trying to bring out, in effect three things from our speakers. \n\nWhere have they come from? What are they currently doing? And where are they going? Whether it's ministers, or whether it's young startups. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"It is to get a pulse so that people are looking to invest people that are looking for people looking to go global, they're really going to have a great understanding of not only the business but the people behind the business."}},{"contentType":"text","value":{"formats":{},"data":"Our tagline is, \"Where India meets the world and the world meets India.\" We really encourage a conversation whether it's a new startup or a unicorn or an established company. We're looking at where and how can we be an enabler for their access into markets that they wouldn't have otherwise. \n"}}],"timeLapsed":"6th Mar 2022","publishedDate":"March 06, 2022"},{"id":235218,"title":"Market value of Accel's India portfolio up by 2.5X, breaches $100 billion in 2 years","slug":"market-cap-accel-india-portfolio-breach-early-stage-investments","type":"RICH","subtitle":"Accel's latest fund of $650 million is its largest one for early-stage ventures in India and Southeast Asia. In an interview with Accel's partners, YourStory deep dives to understand the evolving India thesis.","publishedAt":"2022-03-04T01:20:00.000Z","updatedAt":"2022-03-04T14:13:58.206Z","brand":{"name":"YourStory","slug":"yourstory","locale":"en_GB","path":"/"},"metadata":{"authors":[{"name":"Kunal Talgeri","username":"kunal-talgeri","order":0,"path":"/author/kunal-talgeri"}],"category":{"id":359,"name":"Interview","slug":"ys-interview","path":"/category/ys-interview"},"excerpt":"In a conversation with Accel's partners, YourStory deep dives to understand the venture capital firm's evolving India thesis.","media":"https://images.yourstory.com/cs/2/f86c090087cc11eba777b34f5b721f5e/AccelIndia-04-1646314834392.png","thumbnail":"https://images.yourstory.com/cs/2/f86c090087cc11eba777b34f5b721f5e/AccelIndia-04-1646314834392.png","defaultThumbnail":"https://images.yourstory.com/cs/2/f86c090087cc11eba777b34f5b721f5e/AccelIndia-04-1646314834392.png","brandSpotlight":null,"removeAds":null,"curatedCategories":[],"sponsoredStory":null,"isRegistrationRequired":false,"timeToRead":9,"articleTopics":[],"richArticleTopics":[{"id":"991ecc30-663e-11eb-b571-b76e0f3e580d","slug":"ecosystem-insights","name":"Ecosystem Insights","type":"RICH-ARTICLE-TOPIC","order":0}],"tags":[{"name":"Accel India","slug":"accel-india","order":0,"path":"/tag/accel-india"},{"name":"startups","slug":"startups--","order":1,"path":"/tag/startups--"},{"name":"Freshworks","slug":"freshworks","order":2,"path":"/tag/freshworks"},{"name":"Flipkart","slug":"flipkart","order":3,"path":"/tag/flipkart"},{"name":"urban company","slug":"urban-company","order":4,"path":"/tag/urban-company"},{"name":"Swiggy","slug":"swiggy","order":5,"path":"/tag/swiggy"},{"name":"Eruditus","slug":"eruditus","order":6,"path":"/tag/eruditus"},{"name":"Accel Atoms","slug":"accel-atoms-","order":7,"path":"/tag/accel-atoms-"},{"name":"UPI","slug":"upi","order":8,"path":"/tag/upi"},{"name":"FASTag","slug":"fastag","order":9,"path":"/tag/fastag"}]},"snippets":null,"trailers":null,"path":"/2022/03/market-cap-accel-india-portfolio-breach-early-stage-investments","featured":true,"mobilePostJson":[{"contentType":"text","value":{"formats":{},"data":"On Tuesday, venture capital firm "}},{"contentType":"text","value":{"id":"a61aba30-8c3b-11ea-a76a-b7c1db0f66b0","data":"Accel","format":{}}},{"contentType":"text","value":{"formats":{},"data":" announced its seventh fund for India. At $650 million, Accel's latest fund is its "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"single-largest one yet for early-stage tech ventures"}},{"contentType":"text","value":{"formats":{},"data":" in India and Southeast Asia.\n\nApart from this, Accel has a "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"$1.7-billion Growth Fund,"}},{"contentType":"text","value":{"formats":{},"data":" and a "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"$2.3-billion Leaders Fund"}},{"contentType":"text","value":{"formats":{},"data":", a vehicle that has backed late-stage companies from India like "}},{"contentType":"companyWidget","value":{"id":"0db13da0-eb72-11ea-863b-796f0fefcd2c","name":"Eruditus","slug":"eruditus","logo":{"height":300,"width":300,"imageKey":"cs/images/companies/Eruditus-Executive-Education300x300-1598942456005.png","url":"https://images.yourstory.com/cs/images/companies/Eruditus-Executive-Education300x300-1598942456005.png"},"subtitle":"Eruditus Executive Education collaborate with top universities to make world-class executive education accessible globally.","foundingDate":"2010-01-01","companyURL":"https://yourstory.com/companies/eruditus","companyCoreTeam":[{"name":"Ashwin Damera"},{"name":"Chaitanya Kalipatnapu"}],"sectors":[{"name":"Services","slug":"services"},{"name":"EdTech/Education","slug":"edtech-education"}]}},{"contentType":"text","value":{"formats":{},"data":", "}},{"contentType":"companyWidget","value":{"id":"fec042c0-0b55-11ea-9329-87ad92ab1302","name":"Swiggy","slug":"swiggy","logo":{"height":417,"width":417,"imageKey":"cs/images/companies/logosC141575978425306png","url":"https://images.yourstory.com/cs/images/companies/logosC141575978425306png"},"subtitle":"Bengaluru headquartered Swiggy is a food ordering and delivery platform.","foundingDate":"2014-01-01","companyURL":"https://yourstory.com/companies/swiggy","companyCoreTeam":[{"name":"Sriharsha Majety"},{"name":"Nandan Reddy"},{"name":"Rahul Jaimini"},{"name":"Rahul Bothra"},{"name":"Vivek Sunder"}],"sectors":[{"name":"FoodTech","slug":"foodtech"}]}},{"contentType":"text","value":{"formats":{},"data":", and "}},{"contentType":"companyWidget","value":{"id":"dda19d60-8aed-11ea-93c8-0f14d867449c","name":"BrowserStack","slug":"browserstack","logo":{"height":1667,"width":1667,"imageKey":"cs/images/companies/browsestack-1588256511916.png","url":"https://images.yourstory.com/cs/images/companies/browsestack-1588256511916.png"},"subtitle":"BrowserStack is a cloud based web and mobile application testing platform founded in 2011.","foundingDate":"2011-09-01","companyURL":"https://yourstory.com/companies/browserstack","companyCoreTeam":[{"name":"Nakul Aggarwal"},{"name":"Ritesh Arora"}],"sectors":[{"name":"Enterprise Tech","slug":"enterprise-tech"}]}},{"contentType":"text","value":{"formats":{},"data":".\n\nInterestingly, "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"the market value of Accel's portfolio of companies from India crossed the $100-billion mark"}},{"contentType":"text","value":{"formats":{},"data":" when it launched its seventh fund in February 2022. This is a "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"2.5 times growth over the market value of its companies "}},{"contentType":"text","value":{"formats":{},"data":"when it closed its last fund in 2019.\n"}},{"contentType":"iframe","value":{"url":"https://flo.uri.sh/visualisation/8849489/embed"}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"alsoRead","value":{"title":"Accel announces Atoms, a pre-seed funding programme for early-stage startups","thumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/AccelPartners-50-1630300623146.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2021/08/accel-partners-atoms-pre-seed-funding-uncapped-convertible-startups"}},{"contentType":"text","value":{"formats":{},"data":"In this interview with"}},{"contentType":"text","value":{"formats":{"italic":true},"data":" YourStory"}},{"contentType":"text","value":{"formats":{},"data":", "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Accel's Shekhar Kirani, Anand Daniel, "}},{"contentType":"text","value":{"formats":{},"data":"and"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" Barath Shankar Subramanian"}},{"contentType":"text","value":{"formats":{},"data":" throw light on how it built the seventh fund amidst the pandemic, the bright spots in India's digital economy — and what has remained constant in Accel's India journey.\n\n"}},{"contentType":"text","value":{"formats":{"italic":true},"data":"Edited excerpts."}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{"header":3},"data":"YourStory (YS): Was this the most efficiently-raised Accel fund for India, considering that the previous one was closed before the COVID-19 pandemic?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Shekhar Kirani (SK):"}},{"contentType":"text","value":{"formats":{},"data":" We have a "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"select group of LPs (limited partners) in the high double-digits"}},{"contentType":"text","value":{"formats":{},"data":" that we work with. They have been with us for a long time — from when Accel's India funds were small and when they were not exposed to India.\n\nAs our fund size is becoming bigger, and "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"our Fund 2 and Fund 3 started to do well"}},{"contentType":"text","value":{"formats":{},"data":", we are able to expose that to a bigger audience within our Accel LP pool.\n\nUsually, we met people face to face — one week in the East Coast, and one week in the West Coast. But "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"this time, we did everything over video calls"}},{"contentType":"text","value":{"formats":{},"data":" and were able to close it.\n\nIf this is the way it happens, it makes it a lot easier for future fund-raises. But at the end of the day, "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"these are long-term relationships"}},{"contentType":"text","value":{"data":".\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"We still want to meet them face to face, and there’s a lot of exchange of knowledge. \u003cb>A lot of LPs give us insights and learnings about what is happening in other funds in India and Southeast Asia\u003c/b>, as well as globally, and what's happening in China, where the interests are moving, their questions and concerns."}},{"contentType":"text","value":{"formats":{},"data":"Some of these discussions are much harder to get through Zoom calls. So, from a fund-raise perspective, it was very efficient. But in terms of extending the relationship and making it broader and sweeter, we have to meet them the next time we go to the US.\n"}},{"contentType":"text","value":{"formats":{"header":3},"data":"YS: What are the kind of returns the previous funds have fetched?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"SK:"}},{"contentType":"text","value":{"formats":{},"data":" We have done amazingly well with Fund 2, which is now more than 10 years old — our 'Flipkart' fund. "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"That was a small fund and Flipkart was a massive exit."}},{"contentType":"text","value":{"formats":{},"data":" We still own some equity in "}},{"contentType":"companyWidget","value":{"id":"2570f8e0-0f81-11ea-94fd-1510289f738d","name":"Flipkart","slug":"flipkart","logo":{"height":400,"width":400,"imageKey":"cs/images/companies/Flipkart1574685793858.png","url":"https://images.yourstory.com/cs/images/companies/Flipkart1574685793858.png"},"subtitle":"Bengaluru based e-commerce company founded by Sachin Bansal and Binny Bansal in 2007. US based Walmart acquired a majority stake in Flipkart in 2018.","foundingDate":"2007-10-01","companyURL":"https://yourstory.com/companies/flipkart","companyCoreTeam":[{"name":"Binny Bansal"},{"name":"Sachin Bansal"},{"name":"Kalyan Krishnamurthy"}],"sectors":[{"name":"E-Commerce","slug":"e-commerce"},{"name":"Marketplace","slug":"marketplace"}]}},{"contentType":"text","value":{"formats":{},"data":". But many other companies in that fund are also doing well. From an IRR perspective, it is a massive return.\n\nAnd in Fund 3, which is close to 10 years, we have "}},{"contentType":"companyWidget","value":{"id":"dd594c30-0b69-11ea-b7d4-11bb4a87a24e","name":"Freshworks","slug":"freshworks","logo":{"height":417,"width":418,"imageKey":"cs/images/companies/logosC191575978236169png","url":"https://images.yourstory.com/cs/images/companies/logosC191575978236169png"},"subtitle":"Freshworks is a SaaS startup, disrupting traditional CRM, ITSM, Customer Support, and Marketing Automation with its complete customer engagement suite, Freshworks360.","foundingDate":"2010-10-13","companyURL":"https://yourstory.com/companies/freshworks","companyCoreTeam":[{"name":"Girish Mathrubootham"},{"name":"Shan Krishnasamy"},{"name":"Vijay Shankar"},{"name":"Prakash Ramamurthy"},{"name":"Sidharth Malik"}],"sectors":[{"name":"Enterprise Tech","slug":"enterprise-tech"},{"name":"SaaS","slug":"saas"},{"name":"Marketplace","slug":"marketplace"}]}},{"contentType":"text","value":{"formats":{"bold":true},"data":", "}},{"contentType":"companyWidget","value":{"id":"3e980270-a58e-11ea-b959-e728c00bb8e1","name":"Chargebee","slug":"chargebee","logo":{"height":300,"width":300,"imageKey":"cs/images/companies/Csubs-1591184951284.PNG","url":"https://images.yourstory.com/cs/images/companies/Csubs-1591184951284.PNG"},"subtitle":"Chargebee is the subscription billing and revenue management platform that automates revenue operations of over 3000 high-growth subscription-based businesses from startups to enterprises. ","foundingDate":"2011-06-15","companyURL":"https://yourstory.com/companies/chargebee","companyCoreTeam":[{"name":"Krish Subramanian"},{"name":"Rajaraman Santhanam"},{"name":"Saravanan KP"},{"name":"Thiyagarajan T"}],"sectors":[{"name":"Enterprise Tech","slug":"enterprise-tech"},{"name":"SaaS","slug":"saas"},{"name":"FinTech","slug":"fintech"}]}},{"contentType":"text","value":{"formats":{"bold":true},"data":", "}},{"contentType":"companyWidget","value":{"id":"e2c980f0-8ba6-11ea-866b-8df9f6a04f68","name":"MindTickle","slug":"mindtickle","logo":{"height":300,"width":300,"imageKey":"cs/images/companies/26844177574455818254675085527179281386959154n-1645591514862.jpg","url":"https://images.yourstory.com/cs/images/companies/26844177574455818254675085527179281386959154n-1645591514862.jpg"},"subtitle":"MindTickle provides a comprehensive, data-driven sales readiness and enablement platform for onboarding, micro-learning, skills development and coaching.","foundingDate":"2012-01-01","companyURL":"https://yourstory.com/companies/mindtickle","companyCoreTeam":[{"name":"Krishna Gopal Depura"},{"name":"Deepak Diwakar"},{"name":"Nishant Mungali"}],"sectors":[{"name":"Enterprise Tech","slug":"enterprise-tech"},{"name":"SaaS","slug":"saas"},{"name":"Software","slug":"software"}]}},{"contentType":"text","value":{"formats":{"bold":true},"data":", "}},{"contentType":"text","value":{"id":"6436f940-31fe-11ea-ab66-9d9e9758a807","data":"TaxiForSure.com","format":{}}},{"contentType":"text","value":{"formats":{"bold":true},"data":" (now "}},{"contentType":"companyWidget","value":{"id":"23d368b0-0b53-11ea-9354-b30477deb98c","name":"Ola","slug":"ola","logo":{"height":417,"width":417,"imageKey":"cs/images/companies/logosC2311575978444688png","url":"https://images.yourstory.com/cs/images/companies/logosC2311575978444688png"},"subtitle":"One of the biggest cab aggregators in India, Ola is the second most-valued unicorn","foundingDate":"2010-12-01","companyURL":"https://yourstory.com/companies/ola","companyCoreTeam":[{"name":"Bhavish Aggarwal"},{"name":"Arun Srinivas"},{"name":"Harish Abhichandani"},{"name":"Ankit Bhati"}],"sectors":[{"name":"Mobility / Transportation","slug":"mobility-transportation"}]}},{"contentType":"text","value":{"formats":{"bold":true},"data":"),"}},{"contentType":"text","value":{"formats":{},"data":" we have several high-quality companies, of which Freshworks has gone public. So, these two funds are starting to return money back to our investors.\n\nFunds 4, 5, and 6 are still early. "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"We are in Swiggy, "}},{"contentType":"companyWidget","value":{"id":"d413c9e0-0cfc-11ea-9b44-2ffae52caa1f","name":"Urban Company","slug":"urban-company","logo":{"height":417,"width":417,"imageKey":"cs/images/companies/logosC2301575977155314png","url":"https://images.yourstory.com/cs/images/companies/logosC2301575977155314png"},"subtitle":"Founded in Nov 2014 by Abhiraj Bhal, Varun Khaitan and Raghav Chandra, Urban Company (formerly UrbanClap) is India and the UAE’s largest home services company.","foundingDate":"2014-09-29","companyURL":"https://yourstory.com/companies/urban-company","companyCoreTeam":[{"name":"Abhiraj Singh Bhal"},{"name":"Raghav Chandra"},{"name":"Varun Khaitan"}],"sectors":[{"name":"Consumer","slug":"consumer"},{"name":"Hyperlocal","slug":"hyperlocal"},{"name":"Services","slug":"services"},{"name":"Marketplace","slug":"marketplace"}]}},{"contentType":"text","value":{"formats":{"bold":true},"data":", "}},{"contentType":"companyWidget","value":{"id":"981b7500-8dfd-11ea-947f-0fc449aca70b","name":"Zenoti","slug":"zenoti","logo":{"height":1667,"width":1667,"imageKey":"cs/images/companies/Zenoti-1588596270073.png","url":"https://images.yourstory.com/cs/images/companies/Zenoti-1588596270073.png"},"subtitle":"Founded in 2010 Zenoti is a cloud based, all-in-one software solution for spas and salons.","foundingDate":"2010-01-01","companyURL":"https://yourstory.com/companies/zenoti","companyCoreTeam":[{"name":"Sudheer Koneru"},{"name":"Saritha Katikaneni"},{"name":"Dheeraj Koneru"},{"name":"Anand Arvind"}],"sectors":[{"name":"Enterprise Tech","slug":"enterprise-tech"},{"name":"SaaS","slug":"saas"},{"name":"Software","slug":"software"}]}},{"contentType":"text","value":{"formats":{"bold":true},"data":","}},{"contentType":"text","value":{"formats":{},"data":" and several unicorns that are scaling. Overall, we are very happy with how each fund has been constructed.\n\nWe are always oversubscribed. "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"It’s more about how much to allocate to each investor,"}},{"contentType":"text","value":{"formats":{},"data":" and make sure we keep our promises in return.\n"}},{"contentType":"alsoRead","value":{"title":"Barath and Radhika of Accel talk about investments in healthcare sector","thumbnail":"https://images.yourstory.com/cs/wordpress/2018/12/BharathRadhika.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2018/12/barath-radhika-accel-talk-investments-healthcare"}},{"contentType":"text","value":{"formats":{"header":3},"data":"YS: Both Flipkart and Freshworks took 11-12 years to show returns with their respective exits. How do LPs look at tech ventures from India with that kind of timeframe?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"SK:"}},{"contentType":"text","value":{"formats":{},"data":" Even in the US, the median time for companies to go public or do an IPO (initial public offering) is 10+ years. It will take time when founders want to build a high-quality company with a phenomenal team, great market, great user- and customer-base with "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"durable unit economics"}},{"contentType":"text","value":{"formats":{},"data":" that can last and continue to hold.\n\nThis would have taken 15 or 16 years in India. But thanks to the revolution in "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"digital infrastructure"}},{"contentType":"text","value":{"formats":{},"data":", as well as mobile and 4G proliferation, that time frame is shrinking to 10+ years. What we represent to our investors is: It’s not a five-year but a decade-plus journey.\n\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Anand Daniel (AD):"}},{"contentType":"text","value":{"formats":{},"data":" Companies are scaling faster. If you look at how the "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"2015-vintage companies like Swiggy and Urban Company"}},{"contentType":"text","value":{"formats":{},"data":" have scaled in seven years, it is much faster than the previous batch of consumer-tech startups.\n\nThat is a good indicator of the market evolving. Hopefully, that will expedite some of the exits. But that is yet to be seen.\n"}},{"contentType":"text","value":{"formats":{"header":3},"data":"YS: What has changed since Accel raised its last fund for India?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Barath Shankar Subramanian (BSS):"}},{"contentType":"text","value":{"formats":{},"data":" We have seen significant movement in the portfolio in the past two years.\n\nWhen we raised our last fund in 2019, the market value of our portfolio companies was $40 billion. Today, "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"it is north of $100 billion"}},{"contentType":"text","value":{"formats":{},"data":".\n\nBoth — Flipkart’s exit to "}},{"contentType":"companyWidget","value":{"id":"342a0e80-27a5-11ea-afb6-475ee8017106","name":"Walmart","slug":"walmart","logo":{"height":200,"width":200,"imageKey":"cs/images/companies/1111-1577340108200.jpg","url":"https://images.yourstory.com/cs/images/companies/1111-1577340108200.jpg"},"subtitle":"Walmart Inc. is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores.","foundingDate":"1962-01-02","companyURL":"https://yourstory.com/companies/walmart","companyCoreTeam":[{"name":"Sam Walton"},{"name":"Greg Penner"},{"name":"Doug McMillon"}],"sectors":[{"name":"E-Commerce","slug":"e-commerce"},{"name":"Retail","slug":"retail"}]}},{"contentType":"text","value":{"formats":{},"data":", and Freshworks listing on the NASDAQ — were"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" iconic events "}},{"contentType":"text","value":{"formats":{},"data":"in India's tech ecosystem because we showed that money can go back to the investors. Many of our companies are pathbreaking in the sectors they operate in.\n\nOur focus is the same: get in early, roll up our sleeves, and work with these companies and founders in building impactful outcomes. With the new fund, "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"we will continue to do more of this "}},{"contentType":"text","value":{"formats":{},"data":"on the back of a large domestic digital economy.\n\nThe past couple of years has been an inflexion point in terms of what is happening here. Around "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"$100 billion of India's GDP"}},{"contentType":"text","value":{"formats":{},"data":" has been digitally influenced in 2019, which has gone up to $250 billion in 2021. In five or seven years, that will further go up by 3X to touch $800 billion.\n\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"India is going to have massive companies emerge out of India"}},{"contentType":"text","value":{"formats":{},"data":". So, what we think is large is probably the starting point. Some of the large companies are going to get larger. \n\nThis is on the back of a lot of investments that have happened in solving "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"basic digital infrastructure"}},{"contentType":"text","value":{"formats":{},"data":". When Flipkart started, they had to build an ecommerce business, solve for payments and logistics.\n\nToday, a lot of that has been solved through massive investments by the government and adoption by people across the country—UPI, Fastag, GST, CoWIN. We are seeing that these platforms can be built at scale. "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"On the back of that, founders can potentially build large businesses"}},{"contentType":"text","value":{"data":".\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"This is translating to a lot of the sub-sectors — ecommerce, which is proxy for what is at the top of the consumer funnel of 200 million transacting users. We are seeing that flow into wealth-tech, edtech, health-tech and many other sectors."}},{"contentType":"text","value":{"formats":{},"data":"We are seeing that play out in terms of how companies are scaling. "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"The 200-million base of transacting users will go to 600 million in the next five or seven years"}},{"contentType":"text","value":{"formats":{},"data":", which is why we are super-excited about the potential. We are seeing a lot of this also happen in parallel regions, like Southeast Asia.\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/f86c090087cc11eba777b34f5b721f5e/Photo-TeamAccelIndia-1646315714116.png"}},{"contentType":"alsoRead","value":{"title":"VC firm Accel launches SeedtoScale, an open knowledge platform for founders","thumbnail":"https://images.yourstory.com/cs/2/b3bfb136ab5e11e88691f70342131e20/Image2ys4-1598423057744.jpg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2020/08/vc-firm-accel-partners-seedtoscale-platform-startups"}},{"contentType":"text","value":{"formats":{"header":3},"data":"YS: Given that funding has accelerated the growth of startups in India, do investors have to encourage board governance relatively earlier than before?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"SK:"}},{"contentType":"text","value":{"formats":{},"data":" Board governance and founder check are extremely important for Accel. If (we are) in doubt that the founder is not aligned to the way Accel thinks — people who are down to earth, humble, friendly, thinking about the long-term rather than about making a quick buck and run — "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"it’s less likely we will invest even if it is the greatest idea and if there is the greatest demand for the company"}},{"contentType":"text","value":{"formats":{},"data":".\n\nInternally, there are enough examples where "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"we have walked away from companies"}},{"contentType":"text","value":{"formats":{},"data":" because we are not sure about the founder.\n\nYes, in a portfolio of more than 200 companies, some bad apples may show up. "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"But we are very careful."}},{"contentType":"text","value":{"formats":{},"data":" We highly reference them. We look at who introduced them. We get into details of them, and so on.\n\nBoard governance is important. But "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"fundamentally, it is more important if the founder is a good person or a bad person."}},{"contentType":"text","value":{"data":" That is the starting point.\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"If the founder is a bad person but plays with the style of a good person, and then brings in massive governance, it will fail. Board governance is for people who are good, want to do good, and take the help from the board on how to make it good."}},{"contentType":"text","value":{"formats":{},"data":"So, what we look for are the "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"right mindset and right behaviours"}},{"contentType":"text","value":{"formats":{},"data":".\n"}},{"contentType":"text","value":{"formats":{"header":3},"data":"YS: Has the process of finding tech ventures become more intense since the COVID-19 pandemic started?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"SK:"}},{"contentType":"text","value":{"formats":{},"data":" Not much has changed from an Accel perspective. But yes, India has reached a point now where "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"the quality of founders is amazing and the quality of teams is amazing"}},{"contentType":"text","value":{"formats":{},"data":". And, there is going to be a lot of fight.\n\nWe need to find the right category, entry point, and the best potential way to build these companies out. "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Earlier, we used to give a $2.5-million or $3-million early cheque to founders."}},{"contentType":"text","value":{"formats":{},"data":" Now, we have got Atoms to find the best founders and startups even earlier.\n\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"With Atoms, we are going further down."}},{"contentType":"text","value":{"formats":{},"data":" [Atoms is an Accel initiative for entrepreneurs to raise $250K in non-dilutive capital, and get 1:1 mentoring from successful entrepreneurs.]\n\nMore than 3,000 people applied for Accel Atoms. "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"We selected 15 people."}},{"contentType":"text","value":{"formats":{},"data":" Many of them are starting to raise the next round.\n\nOther than that, we are very careful about the categories we want to invest in, careful about the founders and culture fit because "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"this is a 10-year journey with us"}},{"contentType":"text","value":{"formats":{},"data":". \n\nWe want to make sure that it is meaningful work between us and the founders to "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"build iconic and durable companies that will outlast them"}},{"contentType":"text","value":{"formats":{},"data":", as well as potentially go IPO — less "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"naatak"}},{"contentType":"text","value":{"formats":{},"data":", more real.\n"}}],"timeLapsed":"4th Mar 2022","publishedDate":"March 04, 2022","editorsPickTitle":"Market cap of Accel's India portfolio up by 2.5X, breaches $100B in 2 years","editorsPickSubtitle":"In a conversation with Accel's partners, YourStory deep dives to understand the venture capital firm's evolving India thesis.\n\n","editorsPickStartTime":"2022-03-04T00:30:00.000Z","editorsPickEndTime":"2022-03-04T03:30:00.000Z"},{"id":235109,"title":"SaaS unicorn Retool aims to ease development woes for Indian fintech startups \r\n","slug":"saas-unicorn-retool-ease-payments-woes-fintech-startups-india","type":"RICH","subtitle":"In a conversation with YourStory, David Hsu, Founder and CEO, Retool, talks about the unicorn’s journey and its India plans.\r\n","publishedAt":"2022-03-02T00:15:00.000Z","updatedAt":"2022-03-04T17:23:25.618Z","brand":{"name":"YourStory","slug":"yourstory","locale":"en_GB","path":"/"},"metadata":{"authors":[{"name":"Sindhu Kashyaap","username":"sindhu-kashyap","order":0,"path":"/author/sindhu-kashyap"}],"category":{"id":359,"name":"Interview","slug":"ys-interview","path":"/category/ys-interview"},"excerpt":"In a conversation with YourStory, David Hsu, Founder and CEO, Retool, talks about the unicorn’s journey and its India plans.\n","media":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/David2-1646105537184.jpeg","thumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/David2-1646105537184.jpeg","defaultThumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/David2-1646105537184.jpeg","brandSpotlight":null,"removeAds":null,"curatedCategories":[],"sponsoredStory":null,"isRegistrationRequired":false,"timeToRead":6,"articleTopics":[],"richArticleTopics":[{"id":"991ecc30-663e-11eb-b571-b76e0f3e580d","slug":"ecosystem-insights","name":"Ecosystem Insights","type":"RICH-ARTICLE-TOPIC","order":0}],"tags":[{"name":"B2B SaaS startups","slug":"b2b-saas-startups","order":0,"path":"/tag/b2b-saas-startups"},{"name":"fintech startups","slug":"fintech-startups","order":1,"path":"/tag/fintech-startups"},{"name":"Unicorns","slug":"unicorns","order":2,"path":"/tag/unicorns"}]},"snippets":null,"trailers":null,"path":"/2022/03/saas-unicorn-retool-ease-payments-woes-fintech-startups-india","featured":true,"mobilePostJson":[{"contentType":"text","value":{"formats":{},"data":"In 2017, David Hsu and Anthony Guo, members of Silicon Valley startup accelerator Y Combinator, founded Software-as-a-Service (SaaS) platform "}},{"contentType":"companyWidget","value":{"id":"aca18210-9889-11ec-b6b5-8357f6cccf1a","name":"Retool","slug":"retool","logo":{"height":800,"width":800,"imageKey":"cs/images/companies/Retool-1646050582143.png","url":"https://images.yourstory.com/cs/images/companies/Retool-1646050582143.png"},"subtitle":"Retool is a low-code platform that makes it fast and easy to build internal tools.","foundingDate":"2017-06-01","companyURL":"https://yourstory.com/companies/retool","companyCoreTeam":[{"name":"David Hsu"}],"sectors":[{"name":"Software","slug":"software"}]}},{"contentType":"text","value":{"formats":{},"data":". \n\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"The startup, according to the founders, is entirely a software product built using technologies like React and Node.js. "}},{"contentType":"text","value":{"data":"\n\nRetool’s customers leverage its low-code software solutions to make internal tools specific to their unique needs, prototype applications, or experiment with building things that would otherwise be impossible to build due to lack of resources. \n\nCustomers can use its cloud-hosted offering or host Retool on-premise inside of their own infrastructure - AWS, Azure, Google Cloud, and more.\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"The startup’s last round was a $20 million round at a $1.75 billion valuation. Its investors include Sequoia Capital, Y Combinator and a list of angels including entrepreneur Elad Gil; Patrick Collison ,Stripe CEO;  John Collison, Stripe President; Nat Friedman, Former GitHub CEO and Jay Simons, Former President of Atlassian. "}},{"contentType":"text","value":{"formats":{},"data":"In a conversation with "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"YourStory"}},{"contentType":"text","value":{"formats":{},"data":", David talks about the startup’s journey and India plans. \n"}},{"contentType":"alsoRead","value":{"title":"[Techie Tuesday] From a village in Kochi to building a genomics lab, here’s Tony Jose’s 15-year journey\r\n","thumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/TechieTuesday-1646061803531.jpeg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/02/techie-tuesday-kochi-genomics-lab-tony-jose-startup-genetics"}},{"contentType":"text","value":{"formats":{"bold":true,"italic":true},"data":"Edited excerpts:"}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{"italic":true},"data":"YourStory "}},{"contentType":"text","value":{"formats":{"header":3},"data":"(YS): How did you come up with the idea for Retool? \n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"David Hsu (DH):"}},{"contentType":"text","value":{"data":" A few weeks before Y Combinator Demo Day for the Winter 2017 class, I was burning around $1,000 a day while trying to build a UK-based Venmo competitor.\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"Fintech was a challenging business. We were processing payments for other people and losing money for every payment processed. It was a pretty dire situation. With less than 60 days of runway left, we decided to pivot."}},{"contentType":"text","value":{"formats":{},"data":"Scouring for ideas hidden in our prior work, we uncovered a hefty list of custom software–tools for fraud, KYC and AML regulation–that we had built trying to keep our fintech startup running.\n\nWhen you build enough internal tools as an engineer, you realise that all internal tools basically look the same. It’s just a bunch of tables, buttons, drop downs and forms that you have to build from scratch. \n\nWe thought, “What if there was a drag and drop way of building this faster?” Within a few days, we had a functional prototype. A few weeks later, we presented at Demo Day 2017 and announced we had already signed an enterprise customer pilot worth $1.5 million \n\nOur customers have built around a quarter-million Retool apps to date, saving developers over 13 million engineering hours.\n"}},{"contentType":"alsoRead","value":{"title":"Why a BITS Pilani grad and corporate lawyer teamed up to launch a legal tech startup","thumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/Legistifyfeaturedimage-1645938211517.jpeg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/02/bits-pilani-grad-corporate-lawyer-legal-tech-startup-legistify"}},{"contentType":"text","value":{"formats":{"header":3},"data":"YS: How does Retool solve COVID-19-related fintech challenges? \n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"DH:"}},{"contentType":"text","value":{"formats":{},"data":" Retool sees itself as a way to change how software is built and our core offering caters to internal tools, an area that has seen tremendous growth due to the COVID-19 pandemic. \n\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"As companies have moved all their processes to a digital world, the way a company operates has become critical for businesses to function. Retool helps these teams adopt a modern internal tool stack which caters to their custom needs by giving the power to engineers and builders to shape their internal product. "}},{"contentType":"text","value":{"formats":{},"data":"\n\nWith Retool, even small companies can benefit from sophisticated internal tools, which were once exclusively available to large enterprises with massive resources.\n\nRetool has seen growing traction across all kinds of businesses, including many of the industries most accelerated by COVID-19 such as virtual events (e.g. Hopin) and COVID testing (e.g. Curative). Many of these companies handle sensitive user data and need to host most of their own software as a result. \n\nRetool has always offered self-hosting for enterprise customers, but we recently introduced a free self-serve plan to help growing startups build internal apps securely behind their own VPN.\n"}},{"contentType":"alsoRead","value":{"title":"This New York-based cleantech startup aims to create premium drinking water for all ","thumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/KaraWater-1645769008416.jpeg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/02/new-york-cleantech-startup-kara-water-pure-premium-drinking-water-india"}},{"contentType":"text","value":{"formats":{"header":3},"data":"YS: Tell us about the solutions offered by Retool.\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"DH: "}},{"contentType":"text","value":{"data":"Retool is the fastest way to build critical internal software. With Retool, you can visually design apps that interface with any database or API (application programming interface). You can switch to code nearly anywhere to customise how your apps look and work. \n\nRetool makes it possible to build more custom software with less engineering time, so each team can focus on moving the business forward instead of tedious internal processes. It is unique in our space because we focus on professional developers, and designed Retool with them in mind. Most low-code and all no-code vendors focus on “citizen developers” and hobby projects. \n\nRetool is primarily built for engineers and a technical audience. We believe that internal tools are still largely built by engineers and technical teams that need a lot more control of the system.\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"We focus on a host of integrations to allow users to build applications on top of their existing infrastructure by connecting to popular databases like PostgresDB, MySql, Mongo as well as any internal REST APIs or GraphQL. This allows engineers to start building UIs on top of their existing codebase. "}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/8e6357108f0b11eca118ed9f6bf52d88/Imagem9ov-1645239905723.jpg"}},{"contentType":"text","value":{"formats":{"header":3},"data":"YS: Where is Retool located? And, who are its customers?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"DH: "}},{"contentType":"text","value":{"formats":{},"data":"We have offices in San Francisco (HQ), New York and Bangalore. We currently have around 125 employees. \n\nOur international customers include food delivery platform "}},{"contentType":"companyWidget","value":{"id":"80c34f70-e82c-11ea-845c-01d0e20b6fa3","name":"DoorDash","slug":"doordash","logo":{"height":400,"width":400,"imageKey":"cs/images/companies/DoorDash-logo1-1598512469318.jpg","url":"https://images.yourstory.com/cs/images/companies/DoorDash-logo1-1598512469318.jpg"},"subtitle":"DoorDash Inc. is an American on-demand prepared food delivery service founded in 2013 by Stanford students Tony Xu, Stanley Tang, Andy Fang and Evan Moore.","foundingDate":"2013-07-01","companyURL":"https://yourstory.com/companies/doordash","companyCoreTeam":[{"name":"Stanley Tang"},{"name":"Tony Xu"},{"name":"Andy Fang"},{"name":"Evan Moore"}],"sectors":[{"name":"FoodTech","slug":"foodtech"}]}},{"contentType":"text","value":{"formats":{},"data":", social media company Pinterest, ecommerce giant Amazon and cryptocurrency platform Coinbase, among others \n\nIn India, our customers include fintech company "}},{"contentType":"companyWidget","value":{"id":"c919ab50-0ac1-11ea-b9b0-7b3f0fc9524f","name":"CRED","slug":"cred","logo":{"height":417,"width":417,"imageKey":"cs/images/companies/logosC2031575978376942png","url":"https://images.yourstory.com/cs/images/companies/logosC2031575978376942png"},"subtitle":"Cred offers rewards for paying credit card bills on time.","foundingDate":"2018-04-01","companyURL":"https://yourstory.com/companies/cred","companyCoreTeam":[{"name":"Kunal shah"},{"name":"Rahul Harkisanka"}],"sectors":[{"name":"Financial Services","slug":"financial-services"},{"name":"FinTech","slug":"fintech"}]}},{"contentType":"text","value":{"formats":{},"data":", social media platform "}},{"contentType":"companyWidget","value":{"id":"79bd3370-0b60-11ea-88ab-1be537af988f","name":"ShareChat","slug":"sharechat","logo":{"height":417,"width":418,"imageKey":"cs/images/companies/logosC161575978330092png","url":"https://images.yourstory.com/cs/images/companies/logosC161575978330092png"},"subtitle":"India's leading social media platform. It is “building an inclusive social space for the next billion internet users”. The company is based out of Bengaluru.","foundingDate":"2015-10-01","companyURL":"https://yourstory.com/companies/sharechat","companyCoreTeam":[{"name":"Ankush Sachdeva"},{"name":" Bhanu Pratap Singh"},{"name":"Farid Ahsan"}],"sectors":[{"name":"Social Media","slug":"social-media"}]}},{"contentType":"text","value":{"formats":{},"data":", B2B fintech startup "}},{"contentType":"companyWidget","value":{"id":"bbc1f8d0-0b67-11ea-88ab-1be537af988f","name":"ClearTax","slug":"cleartax","logo":{"height":417,"width":417,"imageKey":"cs/images/companies/logosC211575977298314png","url":"https://images.yourstory.com/cs/images/companies/logosC211575977298314png"},"subtitle":"ClearTax is a fintech platform providing solutions for Income Tax filing, GST and Mutual Fund Investments.","foundingDate":"2011-01-29","companyURL":"https://yourstory.com/companies/cleartax","companyCoreTeam":[{"name":"Archit Gupta"},{"name":"Ankit Solanki"},{"name":"Srivatsan Chari"}],"sectors":[{"name":"FinTech","slug":"fintech"}]}},{"contentType":"text","value":{"formats":{},"data":", cryptocurrency startup "}},{"contentType":"companyWidget","value":{"id":"fce8f870-0e24-11eb-8a0e-3514e8bb83b0","name":"CoinSwitch","slug":"coinswitch","logo":{"height":960,"width":960,"imageKey":"cs/images/companies/11948934632656340901710064259191580642564692o-1602683758846.png","url":"https://images.yourstory.com/cs/images/companies/11948934632656340901710064259191580642564692o-1602683758846.png"},"subtitle":"CoinSwitch is a cryptocurrency exchange platform.","foundingDate":"2017-06-14","companyURL":"https://yourstory.com/companies/coinswitch","companyCoreTeam":[{"name":"Ashish Singhal"},{"name":"Govind Soni"},{"name":"Vimal Sagar Tiwari"}],"sectors":[{"name":"Cryptocurrency","slug":"cryptocurrency"}]}},{"contentType":"text","value":{"formats":{},"data":", among others. \n\n"}},{"contentType":"text","value":{"formats":{"header":3},"data":"YS: Tell us about Retool growth in India and its competition\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"DH:"}},{"contentType":"text","value":{"formats":{},"data":" We have seen 5x growth in India in terms of new accounts created in the last year. Sid Puri, who leads growth in India, was Retool’s first international hire, in January 2021.\n\nOur main competitors are internal tools built in-house. We see Retool competing primarily with technologies like React and Angular (common JS frameworks used to build tools in-house from scratch). As far as low-code competitors, we aren’t often placed head to head with other platforms. \n\nMuch of this is due to our differentiated focus on the developer persona. Most of our customers are evaluating Retool as a force multiplier for efficiency, not comparing it to other platforms.\n"}},{"contentType":"text","value":{"formats":{"header":3},"data":"YS: What are your future plans? \n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"DH:"}},{"contentType":"text","value":{"formats":{},"data":" We’re doubling down on the core product, new product lines, and growing our global footprint.\n\nWe plan to use the money raised in our Series C to accelerate investments into expanding our core product, launching new product lines, and growing our global footprint.\n\nMuch of our traction in India, which is our fastest-growing foreign market, comes from word of mouth. We saw this growth opportunity early and set up our first international office in Bangalore.\n\nGiven our recent fundraise, we are ready to double down on the Indian market. We want to focus on getting Retool in the hands of more developers by offering a new unlimited Free plan, exclusive to India.\n\nWe also plan to expand into new product lines. Most of the workforce today does not sit at a desk. Internal software needs for teams that are out in the field, at the warehouse, or in transit are different—and we’ll be investing in solving these use cases over the next year.\n"}}],"timeLapsed":"2nd Mar 2022","publishedDate":"March 02, 2022","editorsPickTitle":"SaaS unicorn Retool aims to ease payments woes for Indian fintech startups","editorsPickSubtitle":"In a conversation with YourStory, David Hsu, Founder and CEO, Retool, talks about the unicorn’s journey and its India plans.","editorsPickStartTime":"2022-03-02T03:30:00.000Z","editorsPickEndTime":"2022-03-02T06:30:00.000Z"},{"id":233677,"title":"A road less travelled: How photographer-influencer Ankit Sharma rode to fame in the automotive creator space\r\n","slug":"creators-inc-conference-ankit-sharma","type":"RICH","subtitle":"Presenting young disruptor Ankit Sharma, whose brainchild Man Made Machines brings life into mean machines, only at YourStory' Creators Inc conference. 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Scroll down to discover his distaste for classroom learning, his plans to scale motorsports content, and his thoughts on the wonderful commercial ","media":"https://images.yourstory.com/cs/2/0e302530227f11ec9e19b7c38d296967/800x3686-1644930777354.png","thumbnail":"https://images.yourstory.com/cs/2/0e302530227f11ec9e19b7c38d296967/800x3686-1644930777354.png","defaultThumbnail":"https://images.yourstory.com/cs/2/0e302530227f11ec9e19b7c38d296967/800x3686-1644930777354.png","brandSpotlight":null,"removeAds":null,"curatedCategories":[],"sponsoredStory":null,"isRegistrationRequired":false,"timeToRead":11,"articleTopics":[],"richArticleTopics":[{"id":"991ecc30-663e-11eb-b571-b76e0f3e580d","slug":"ecosystem-insights","name":"Ecosystem Insights","type":"RICH-ARTICLE-TOPIC","order":0}],"tags":[{"name":"Creators Inc","slug":"creators-inc","order":0,"path":"/tag/creators-inc"},{"name":"100 Top Creators","slug":"100-top-creators","order":1,"path":"/tag/100-top-creators"},{"name":"content creator","slug":"content-creator","order":2,"path":"/tag/content-creator"},{"name":"digital content industry","slug":"digital-content-industry","order":3,"path":"/tag/digital-content-industry"},{"name":"creator economy","slug":"creator-economy","order":4,"path":"/tag/creator-economy"}]},"snippets":null,"trailers":null,"path":"/2022/02/creators-inc-conference-ankit-sharma","featured":false,"mobilePostJson":[{"contentType":"text","value":{"formats":{},"data":"Meet the man behind "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Man Made Machines (MMM)"}},{"contentType":"text","value":{"formats":{},"data":", a venture designed to give an insight into how beautiful life is on a machine on wheels. The Trichy-born and Haryana-based digital content creator who studied journalism at Christ University, "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Ankit Sharma"}},{"contentType":"text","value":{"formats":{},"data":" is an early disruptor in the Indian creator economy, breaking into the relatively uncommon "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"automotive space"}},{"contentType":"text","value":{"formats":{},"data":" as a "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"photographer"}},{"contentType":"text","value":{"formats":{},"data":" and "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"videographer"}},{"contentType":"text","value":{"formats":{},"data":", eventually going on to chart his own destiny. \n\nWhile "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Man Made Machines"}},{"contentType":"text","value":{"formats":{},"data":" has carved its own space and identity — commanding "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"181,000 (and counting) followers on Instagram"}},{"contentType":"text","value":{"formats":{},"data":" — Ankit has had more of a happy-to-be-in-the-background profile. So far so good but not anymore.\n\nMarking his maiden and rare media appearance at the "}},{"contentType":"text","value":{"formats":{"bold":true,"italic":true},"data":"YourStory"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" Creators Inc conference 2022"}},{"contentType":"text","value":{"formats":{},"data":", Ankit was in between covering the prestigious "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Dakar Rally 2022"}},{"contentType":"text","value":{"formats":{},"data":". Which meant almost a month of being in the desert of Saudi Arabia, sleeping in cars and surviving on fruits. It was both the most fun and painful part of the project, Ankit says. “Creativity is not something that comes depending on the city, it just comes from within. I wouldn't say that it’s a calling or any of those cliched bits but it is something that you know you want to do, because once you do it, it's like an addiction, you get a taste of it, and you want more and more and more,” says the new-age creator. \n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/0e302530227f11ec9e19b7c38d296967/800x3686-1644930777354.png"}},{"contentType":"text","value":{"formats":{},"data":"\n\nHow does it feel to be on the top especially when one lives a dream of a lifetime for any "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"motorsport photographer"}},{"contentType":"text","value":{"formats":{},"data":"? “I've achieved the dream that I initially had when we used to have conversations in college, ‘Dude, I want to cover top motorsport athletes and this and that’. There's one thing that people used to say — and I never believed them — that when your dream comes true, it's going to scare you,” says the "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"23-year-old automotive influencer"}},{"contentType":"text","value":{"formats":{},"data":".\n\nDoes success extract its pound of flesh in return? “I'm not in the right space as I'm trying to figure things out. Because once you’ve reached the top, whatever it is that you have dreamt of, the next question is: "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"How are you going to sustain it? "}},{"contentType":"text","value":{"formats":{},"data":"Right now, I’m caught in that confusion, planning things, and working on how I can take this higher and higher. Even though I'm working every day, creating the stuff I always wanted to create, I'm questioning everything ahead. It's not not exactly a good space, but I'm in a peaceful state because the more I question myself, the more I know what I want to do. I think I'm in a good space and bad space at the same time,” explains Ankit.    \n\nThe "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"India automotive market demand"}},{"contentType":"text","value":{"formats":{},"data":" was pegged at "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"4,266,062 units"}},{"contentType":"text","value":{"formats":{},"data":" in 2019. The market is expected to expand at a "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"compound annual growth rate (CAGR) of 11.3%"}},{"contentType":"text","value":{"formats":{},"data":" from "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"2020"}},{"contentType":"text","value":{"formats":{},"data":" to "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"2027"}},{"contentType":"text","value":{"formats":{},"data":". According to statistics published in April 2018 by the European Automobile Manufacturers Association (ACEA), "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"India is ranked fourth in the top ten global car-producing countries"}},{"contentType":"text","value":{"formats":{},"data":". The country’s automotive sector is powered by the rising population, increasing disposable income, and ease of availability of credit and financing.\n\n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"\n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Camera, childhood and college\n"}},{"contentType":"text","value":{"data":"\n“I came from a city where photography was nothing, it didn't exist properly. And me being a Haryanvi in Tamil Nadu was a little complicated. For any creator, one major part would be to believe in yourself and like your work,” says Ankit, explaining what it takes to achieve your dream. \n\nWhen Ankit was in his eighth or ninth grade, he had persuaded his dad to give him a phone. It was a Vivo (then not well-known) with a 0.3 megapixel camera. He would go around and capture flowers and bits and pieces of nature. Additionally, his family owned a Kodak film camera. Like any other regular Indian family hailing from Haryana, which Ankit describes as being both “narrow-minded” and “open-minded” at the same time, Ankit’s family would visit temples during holidays. Ankit would venture into some self-styled street photography during those trips, photographing the ice cream vendor and others on the street. \n\n“When my dad would develop the film, he would see that there are a lot of useless images, which are not that of our family, and at that point of time the inner Haryanvi of my dad would come out, and he would say, ‘You're never touching the camera again’. That’s because I was ‘wasting’ a lot of film. I loved that mechanism of clicking an image, then rolling it, twisting it and pressing it,” recalls Ankit. \n\nLater, Ankit would also come across his neighbour’s digital Kodak camera. It had a 3x-4x zoom as well. “I would take that, water the garden and try to see if there were insects too. So, I think that's where it grew at that point of time (the passion for photography),” recalls Ankit. \n\nHe was 10 years old at that time. By the time he got to Class 10, Ankit was sure of what he wanted to do in life. His dad, he says, had zero hope but Ankit passed with 80 percent. Later, he managed to persuade his dad to get him a camera. It was for Rs 28,000 and this was a time when he had to do with 2g data, as the world has yet not had its tryst with 4g data.   \n\n“I would just set the screen timing for 30 minutes, pause a YouTube video, let it load for 25 minutes, come back and watch the video,” shares Ankit. \n\nAnkit did his schooling in Tamil Nadu, and he describes the rigorous school timings and the education system as “unwanted”. At some point of time, he was so disturbed that he had stopped going to school. \n\nAnkit wanted to join Christ University with two intentions and the first one was dissolved in a week’s time. “I wanted to go there to get to know the industry and build connections. Within the first week, I was aware that this is not going to happen,” says Ankit, adding that he had realised early enough that the education system, which could mean a million things for a million others, was not for him. \n\n“I think the sole reason I went to college was to make friends to understand how I can grow, even if it's on my own,” shares Ankit. He would go and meet different brands and communicate with people. His real learning happened in those three years when he got to understand the industry and its people, the ruthlessness included. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“When you're entering the creator space, it can be really difficult if you don't have a good portfolio or a solid work background. I'm happy that I did it in college because at that point of time, I had nothing to lose, I didn't have many things to take care of. It was best that people gave me a bad experience at that point of time as because of that bad experience in those three years, I knew what I shouldn't do when I got out of college,\" says Ankit.  "}},{"contentType":"text","value":{"formats":{},"data":"\nThere are like two ways to work in the industry. One is to follow how the industry works. The second is creativity, to follow your own instinct. You have to have a bit of both worlds — commerce and creativity, advises the "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"motorsports digital content creator"}},{"contentType":"text","value":{"formats":{},"data":". \n"}},{"contentType":"alsoRead","value":{"title":"How a blog started from a couch became a company: MissMalini’s tryst with Shah Rukh Khan and other Bollywood stars\r\n","thumbnail":"https://images.yourstory.com/cs/2/628912e0d7f211eb8e8307e5b6451cf7/MaliniAgarwal-01-1644632650962.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/02/creators-inc-goodglamm-missmalini-malini-agarwal-sharukh-khan"}},{"contentType":"text","value":{"formats":{},"data":"\n\n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"The Instagram advantage \n"}},{"contentType":"text","value":{"formats":{},"data":"“Instagram is super-crucial for me, because I’m not there just to earn followers. I’m there to build connections that I can't otherwise build if not for this platform,” Ankit explains, talking about the virtual friendship that he picked up with a fellow photographer from the Czech Republic. \n\n“So, this guy from Czech Republic, we had been on and off talking to each other about work and stuff for three years. And after three years, he asked me, ‘Dude, I love your work, would you want to join this rally? It was a huge jump for somebody like me, who had never covered any other rally,” shares Ankit, adding how is also covering the Formula Three Asian Championship in the United Arab Emirates (UAE). \n\nThe best part is there is no proper guidance, no one’s instructing you about angles and sides, says Ankit, sharing how it comes organically to him. He feels like he was born to do this. Eventually, he has proved to be the person who might be there at his first race, but whose content is hardly amateurish. \n\n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Riding on love - Mona Lisa and mean machines\n"}},{"contentType":"text","value":{"formats":{},"data":"\nWhat are the machines Ankit swears by? \n\n“If you would have asked me (this question) a year back, I would have probably told you a Land Rover Defender (ideal car) and a Honda Africa Twin (ideal bike). But now I don't think I need a bike or car ever! I'm pretty sorted because I'm working with so many different brands and different spaces that I get to experience all these cars and bikes courtesy of my work. I love them all,” says Ankit.  \n\nHe likens his “deep-rooted” love for bikes and cars to the human quest for art, something like the enchanting Mona Lisa painting. Art shouldn't have limitations, it should cross all limitations to encompass what it truly is. \n\nMotorcycles and cars are created with so much of love and passion, that it kind of reflects all the love. It’s an intangible feeling, from how it looks to how it feels, combined with how it rides and how it makes the rider feel as a person. It’s an intimate relationship. “That's something hard to explain: I've been doing this for so many years, but I can still explain it in a new way. It just keeps on going. There's always a new explanation of how beautiful these things are because when you're riding or driving, it's like, you don't want to think about the work, you don't want to think about all the mess that might be in your head. It's just you on the road in different locations. It's a beautiful thing,” elaborates Ankit. That's why Ankit is always on the move as he doesn't want to stagnate in one place and explore the same thing again and again.\n\n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"The road ahead\n"}},{"contentType":"text","value":{"formats":{},"data":"\n“I want to do a lot of motorsports. From the Instagram perspective, whatever content that I post regarding motorsport gets the least amount of likes, as opposed to the travel beat,” shares Ankit. MMM executes end-to-end campaigns for brands launching a new product or coming up with a new feature. As per the website, the MMM experience captures the bond between the human and the machine, providing a glimpse into their intertwined lives. \n\nWhen it comes to Man Made Machines, Ankit believes the journey has only started now. If one looks at the swelling over $100 billion market creator economy simmering with the potential of 50 million creators, creators are not only making content on social media platforms but monetising their content as well. This makes them first-of-a-kind content creators who are also creator-preneurs. \n\n“The economy for this particular sector is huge. I know the ins and outs on how much money a person can make through these social media platforms. It's super crazy. I wouldn't want to do a monthly job ever in my life and I know I can't do it anymore. So, that is the confidence that it gives you. And, yet at the same time, just because there is so much money in this sector, there comes a point where advertising and marketing agencies start instructing you. This is what has to go out. I don't take up 99 percent of the campaigns that I’m offered because they want me to do what they want because at the end of the day for me, it's not just about the money,” says Ankit.  \n\nIn a post shared on his Facebook page. Ankit writes: "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"“While I keep trying to make better images I find myself getting better as a human everyday, cameras have helped me learn lessons that no school, college could ever teach me. It's a curse and blessing at the same time. I have given all my time and money into making images and am scared about the future, but I still can't leave it even for an hour, and will do it all over again.” "}},{"contentType":"text","value":{"formats":{},"data":"\n\n“I think I wrote in 2018-2019. And it's still true. It's not something that's ever going to change. When I'm making an image, it’s as if one last image but there is no one last; it’s never the last,” signs off Ankit, heading for his next adventure.  \n\n"}},{"contentType":"text","value":{"formats":{"italic":true},"data":"Catch "}},{"contentType":"text","value":{"formats":{"link":"https://events.hubilo.com/CreatorsInc/login","italic":true},"data":"YourStory's Creators Inc conference here"}},{"contentType":"text","value":{"formats":{"italic":true},"data":"."}},{"contentType":"text","value":{"formats":{},"data":"\n\n"}},{"contentType":"text","value":{"formats":{"italic":true},"data":"For more on other key initiatives as part of the conference, visit our Creators Inc. website "}},{"contentType":"text","value":{"formats":{"link":"https://ys-events.yourstory.com/creators-inc-conference","italic":true},"data":"here"}},{"contentType":"text","value":{"formats":{"italic":true},"data":"."}},{"contentType":"text","value":{"formats":{},"data":"\n\n"}},{"contentType":"text","value":{"formats":{"italic":true},"data":"Recognising the burgeoning creator ecosystem and the new wave of entrepreneurship that comes with it, YourStory is celebrating the works of both established and emerging influencers in an initiative aimed at identifying, celebrating and accelerating the journey of digital creators who make extraordinary, unique and engaging content. We've partnered with Trell to bring you the Top 100 Creators challenge, which you can "}},{"contentType":"text","value":{"formats":{"link":"https://form.jotform.com/213540503530442","italic":true},"data":"apply for here"}},{"contentType":"text","value":{"formats":{"italic":true},"data":"."}},{"contentType":"text","value":{"formats":{},"data":"\n\n"}}],"timeLapsed":"23rd Feb 2022","publishedDate":"February 23, 2022"},{"id":234058,"title":"From customer research to founder resilience: Entrepreneur tips from Shirish Nadkarni, author of ‘From Startup to Exit’","slug":"startup-tips-shirish-nadkarni-entrepreneurship-advice","type":"RICH","subtitle":"Truly understanding customer pain points is a deep source of business insights, but many founders fail at this stage. This author offers a range of success tips for founders.","publishedAt":"2022-02-19T03:30:00.000Z","updatedAt":"2022-02-19T03:31:32.094Z","brand":{"name":"YourStory","slug":"yourstory","locale":"en_GB","path":"/"},"metadata":{"authors":[{"name":"Madanmohan Rao","username":"madanmohan","order":0,"path":"/author/madanmohan"}],"category":{"id":359,"name":"Interview","slug":"ys-interview","path":"/category/ys-interview"},"excerpt":"Truly understanding customer pain points is a deep source of business insights, but many founders fail at this stage. This author offers a range of success tips for founders.","media":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Exit-1645200809177.png","thumbnail":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Exit-1645200809177.png","defaultThumbnail":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Exit-1645200809177.png","brandSpotlight":null,"removeAds":null,"curatedCategories":[],"sponsoredStory":null,"isRegistrationRequired":false,"timeToRead":6,"articleTopics":[],"richArticleTopics":[{"id":"991ecc38-663e-11eb-b571-b76e0f3e580d","slug":"learn-from-the-best","name":"Learn From The Best ","type":"RICH-ARTICLE-TOPIC","order":0}],"tags":[{"name":"interview","slug":"interview","order":0,"path":"/tag/interview"},{"name":"shirish nadkarni","slug":"shirish-nadkarni","order":1,"path":"/tag/shirish-nadkarni"},{"name":"entrepreneurship advice","slug":"entrepreneurship-advice","order":2,"path":"/tag/entrepreneurship-advice"},{"name":"Startup tips","slug":"startup-tips","order":3,"path":"/tag/startup-tips"},{"name":"Resilience","slug":"resilience","order":4,"path":"/tag/resilience"}]},"snippets":null,"trailers":null,"path":"/2022/02/startup-tips-shirish-nadkarni-entrepreneurship-advice","featured":false,"mobilePostJson":[{"contentType":"text","value":{"formats":{"bold":true},"data":"Shirish Nadkarni"}},{"contentType":"text","value":{"formats":{},"data":" is the author of "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"From Startup to Exit: An Insider's Guide to Launching and Scaling Your Tech Business"}},{"contentType":"text","value":{"formats":{},"data":" (see my book review "}},{"contentType":"text","value":{"formats":{"bold":true,"link":"https://yourstory.com/2022/01/startup-idea-exit-shirish-nadkarni"},"data":"here"}},{"contentType":"text","value":{"data":"). He has over 20 years of experience in the tech startup space. His co-founded startups include Livemocha (acquired by RosettaStone) and TeamOn Systems (acquired by RIM).\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"See also \u003cem>YourStory’s\u003c/em> \u003ca href=\"https://yourstory.com/tag/bookreview\">Book Review\u003c/a> section with takeaways from over 330 titles on creativity, entrepreneurship, innovation, social enterprise, and digital transformation. "}},{"contentType":"text","value":{"formats":{},"data":"In this conversation, Shirish shares his views on customer empathy, product pivots, and IPO strategies.\n\n"}},{"contentType":"text","value":{"formats":{"italic":true},"data":"Edited excerpts from the interview:"}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{"italic":true},"data":"YourStory "}},{"contentType":"text","value":{"formats":{"header":3},"data":"[YS]: In the time since your book was published, what are some notable new examples or frameworks you have come across that build upon the material in your book?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Shirish Nadkarni [SN]:"}},{"contentType":"text","value":{"formats":{},"data":" I recently read a book called "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"The Cold Start Problem"}},{"contentType":"text","value":{"formats":{},"data":" by Andrew Chen. It articulates many of the challenges that marketplaces and social networks face getting started (hence the cold start problem). \n\nIt provides a great framework to "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"jumpstart a marketplace"}},{"contentType":"text","value":{"formats":{},"data":" and create network effects to propel the growth of the marketplace.\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Startup17-1645201032160.png"}},{"contentType":"text","value":{"formats":{"header":3},"data":"YS: How was your book received? What were some of the unusual responses and reactions you got?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"SN:"}},{"contentType":"text","value":{"formats":{},"data":" The book has been very well received. It has won two awards in the business category ("}},{"contentType":"text","value":{"formats":{"italic":true},"data":"NYC Big Book Award"}},{"contentType":"text","value":{"formats":{},"data":" and the "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"Royal Dragonfly Award"}},{"contentType":"text","value":{"formats":{},"data":"). The book is also highly rated on Amazon. \n\nWhat is amazing is that I have received unsolicited emails on LinkedIn from readers saying how much they liked the book!\n"}},{"contentType":"alsoRead","value":{"title":"[Year in Review 2021] Top ten changemakers of the year","thumbnail":"https://images.yourstory.com/cs/5/79900dd0d91311e8a16045a90309d734/collage1-1639488579193.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/socialstory/2021/12/socialstory-year-review-2021-top-ten-changemakers"}},{"contentType":"text","value":{"formats":{"header":3},"data":"YS: How should entrepreneurs evaluate weak signals and anecdotal evidence which seem to contradict quantitative market trends?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"SN:"}},{"contentType":"text","value":{"formats":{},"data":" I am a big believer in conducting lots of customer interviews and really spending time understanding the customer's pain points. The signals that you can get from these "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"customer interviews "}},{"contentType":"text","value":{"formats":{},"data":"can be very valuable and should trump any quantitative market trends.\n"}},{"contentType":"text","value":{"formats":{"header":3},"data":"YS: It’s one thing to fail with a product, and a bigger dimension to fail with a company. How should founders regroup in these two situations?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"SN:"}},{"contentType":"text","value":{"formats":{},"data":" The best way to manage this process is to start with an MVP and continuously pivot your solution until it starts addressing your customer's problems. \n\nIf after several "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"pivots, "}},{"contentType":"text","value":{"data":"you still haven't addressed your customer's needs and the product fails, then you need to go back to the drawing board and look at adjacent markets where your product could potentially succeed. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"If your company fails because you have run out of money, then you can go back to your investors to see if they feel there's still merit in your solution to target other markets. "}},{"contentType":"text","value":{"formats":{},"data":"If you have been disciplined about your approach, your investors may give you more money to test "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"new markets "}},{"contentType":"text","value":{"formats":{},"data":"for your product.\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Failure3-1645201075255.jpg"}},{"contentType":"text","value":{"formats":{"header":3},"data":"YS: Though there are many online resources for founders to learn about failure, several continue to make the same mistakes. Why is that, and how can this be reduced?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"SN:"}},{"contentType":"text","value":{"formats":{},"data":" Founders are often impatient and jump into developing products without doing the necessary customer research, which is where most of the mistakes happen. \n\nThat’s why I have written my book. My goal is to cover the "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"entire entrepreneurial journey"}},{"contentType":"text","value":{"formats":{},"data":" and point out the common mistakes that founders make so they can avoid these mistakes.\n"}},{"contentType":"alsoRead","value":{"title":"[Year in Review 2021] Here are the trends that will reshape offline retail in 2022 and beyond ","thumbnail":"https://images.yourstory.com/cs/21/0a385fc03e6011e999df3d1594bbde2c/SMB-32-1640108346622.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/smbstory/offline-retail-shopping-trends-2022-online-marketplace-year-in-review"}},{"contentType":"text","value":{"formats":{"header":3},"data":"YS: How should founders evaluate whether to register for IPO in their country or abroad? What factors come into play here? \n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"SN:"}},{"contentType":"text","value":{"formats":{},"data":" If yours is a domestic company, you should consider going IPO in your own country. \n\nOn the other hand, if your company is a global company with a strong presence in the US or Europe, you should consider going public in these markets, where you will get significantly better liquidity for your stock.\n"}},{"contentType":"text","value":{"formats":{"header":3},"data":"YS: What forums are there for founders to collectively discuss some of the issues they face with investors, for example, board conflict?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"SN:"}},{"contentType":"text","value":{"formats":{},"data":" The main forums that exist today are Reddit and Quora. Each has an entrepreneurial section where you can discuss common startup issues.\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/India3-1645201132864.jpg"}},{"contentType":"text","value":{"formats":{"header":3},"data":"YS: What is your take on the rise of startups in India? What should founders and government be doing to seize the opportunity and also overcome the challenges?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"SN:"}},{"contentType":"text","value":{"formats":{},"data":" The rise of startups in India has been simply amazing. Soon, India will be rivalling other tech centres in the world like Silicon Valley, Israel, and others. \n\nFounders should "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"network with other successful founders"}},{"contentType":"text","value":{"formats":{},"data":" and angels to get their advice before venturing on a new startup. They should join other startups (if they are not ready to take the plunge) to get startup experience. \n\nThe government should set up technology funds to fund new startups. They should provide "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"tax advantages to angels"}},{"contentType":"text","value":{"formats":{},"data":" to invest in startups. For example, in the US, if a startup has an exit after five years, all capital gains are forgiven.\n"}},{"contentType":"alsoRead","value":{"title":"[Year in Review 2021] How women entrepreneurs pivoted during the pandemic and saw tangible results\n\n","thumbnail":"https://images.yourstory.com/cs/4/8e7cc4102d6c11e9aa979329348d4c3e/Cover-05-1639653048479.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/herstory/2021/12/women-entrepreneurs-pivoted-pandemic"}},{"contentType":"text","value":{"formats":{"header":3},"data":"YS: How can social entrepreneurs and non-profit organisations make use of your frameworks and tips? Are there some examples you can cite in this regard?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"SN: "}},{"contentType":"text","value":{"formats":{},"data":"Many of the same principles apply to social entrepreneurs. Social entrepreneurs also need to establish product-market fit like tech startups, which I talk about in my book. \n\nThey need to track "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"metrics"}},{"contentType":"text","value":{"formats":{},"data":" on how their social venture is helping people. The fundraising process is also similar to raising funds from angels. My book talks about how to put together a killer investor pitch – many of the same ideas and framework can apply here as well.\n"}},{"contentType":"text","value":{"formats":{"header":3},"data":"YS: What books are on your reading list these days? Which were your favourite books of 2021?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"SN:"}},{"contentType":"text","value":{"formats":{},"data":" My favourite books are "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"The Cold Start Problem"}},{"contentType":"text","value":{"formats":{},"data":" by Andrew Chen, "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"Educated"}},{"contentType":"text","value":{"formats":{},"data":" by Tara Westover, and "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"Amazon Unbound"}},{"contentType":"text","value":{"formats":{},"data":" by Brad Stone. The book I am currently reading is "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"Klara and the Sun"}},{"contentType":"text","value":{"formats":{},"data":" by Kazuo Ishiguro.\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Storytelling3-1645201190544.jpg"}},{"contentType":"text","value":{"formats":{"header":3},"data":"YS: What is your next book going to be about?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"SN:"}},{"contentType":"text","value":{"formats":{},"data":" I haven't disclosed this yet! But I have started working on my next book.\n"}},{"contentType":"text","value":{"formats":{"header":3},"data":"YS: What is your parting message to the startups and innovators in our audience?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"SN:"}},{"contentType":"text","value":{"data":" Start early in your career when you have the ability to take risks. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"There are lots of opportunities to take advantage of. Even if your company fails, you will have had tremendous learning!"}},{"contentType":"text","value":{"formats":{},"data":"\n"}}],"timeLapsed":"19th Feb 2022","publishedDate":"February 19, 2022"},{"id":233936,"title":"Innovation ecosystems and corporate-startup partnerships – in conversation with Shameen Prashantham, author of ‘Gorillas Can Dance’","slug":"innovation-corporate-startups-shameen-prashantham","type":"RICH","subtitle":"In a wide-ranging interview, this author shares valuable insights on collaborative innovation, pandemic resilience, and emerging research frontiers.","publishedAt":"2022-02-18T02:30:00.000Z","updatedAt":"2022-02-18T02:43:38.755Z","brand":{"name":"YourStory","slug":"yourstory","locale":"en_GB","path":"/"},"metadata":{"authors":[{"name":"Madanmohan Rao","username":"madanmohan","order":0,"path":"/author/madanmohan"}],"category":{"id":359,"name":"Interview","slug":"ys-interview","path":"/category/ys-interview"},"excerpt":"In a wide-ranging interview, this author shares valuable insights on collaborative innovation, pandemic resilience, and emerging research frontiers.","media":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Gorilla-1645110462273.png","thumbnail":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Gorilla-1645110462273.png","defaultThumbnail":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Gorilla-1645110462273.png","brandSpotlight":null,"removeAds":null,"curatedCategories":[],"sponsoredStory":null,"isRegistrationRequired":false,"timeToRead":10,"articleTopics":[],"richArticleTopics":[{"id":"991ecc38-663e-11eb-b571-b76e0f3e580d","slug":"learn-from-the-best","name":"Learn From The Best ","type":"RICH-ARTICLE-TOPIC","order":0}],"tags":[{"name":"interview","slug":"interview","order":0,"path":"/tag/interview"},{"name":"Shameen Prashantham","slug":"shameen-prashantham","order":1,"path":"/tag/shameen-prashantham"},{"name":"innovation ecosystem","slug":"innovation-ecosystem","order":2,"path":"/tag/innovation-ecosystem"},{"name":"partnerships","slug":"partnerships","order":3,"path":"/tag/partnerships"},{"name":"entrepreneurship advice","slug":"entrepreneurship-advice","order":4,"path":"/tag/entrepreneurship-advice"}]},"snippets":null,"trailers":null,"path":"/2022/02/innovation-corporate-startups-shameen-prashantham","featured":false,"mobilePostJson":[{"contentType":"text","value":{"formats":{"bold":true},"data":"Shameen Prashantham"}},{"contentType":"text","value":{"formats":{},"data":" is a Professor of International Business and Strategy, and Associate Dean (MBA), at China Europe International Business School "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"(CEIBS)"}},{"contentType":"text","value":{"formats":{},"data":" in Shanghai, China. He earlier taught at Nottingham University Business School (NUBS) in Ningbo, China and the University of Glasgow. He is the author of "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"Gorillas Can Dance: Lessons from Microsoft and Other Corporations on Partnering with Startups"}},{"contentType":"text","value":{"formats":{},"data":" "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"(see my book review "}},{"contentType":"text","value":{"formats":{"bold":true,"link":"https://yourstory.com/2022/01/corporate-startup-partnerships-innovation/"},"data":"here"}},{"contentType":"text","value":{"formats":{"bold":true},"data":")."}},{"contentType":"text","value":{"data":"\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"See also \u003cem>YourStory’s\u003c/em> \u003ca href=\"https://yourstory.com/tag/bookreview\">Book Review\u003c/a> section with takeaways from over 330 titles on creativity, entrepreneurship, innovation, social enterprise, and digital transformation. "}},{"contentType":"text","value":{"formats":{},"data":"In this conversation, Shameen shares his views of innovation journeys, risks of failure, and the power of corporate-startup collaborations.\n\n"}},{"contentType":"text","value":{"formats":{"bold":true,"italic":true},"data":"Edited excerpts from the interview:"}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"text","value":{"formats":{"bold":true,"italic":true},"data":"YourStory"}},{"contentType":"text","value":{"formats":{"header":3},"data":" [YS]: What is your current field of research in corporate innovation?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Shameen Prashantham [SP]: "}},{"contentType":"text","value":{"formats":{},"data":"For now, it remains corporate-startup partnering. A major driver of the collaboration that I’ve studied (and which the book is based upon) was digitalisation; going forward, I am seeing "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"sustainability "}},{"contentType":"text","value":{"formats":{},"data":"potentially playing a similar role. \n\nAn important facet of my work is its global outlook, and this is especially important in relation to corporate innovation for combating climate change, one of the most important of the Sustainable Development Goals "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"(SDGs)."}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Innovation17-1645110739004.png"}},{"contentType":"text","value":{"formats":{"header":3},"data":"[YS]: How big a role does academics play in innovation? Can innovation really be formally taught?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[SP]:"}},{"contentType":"text","value":{"formats":{},"data":" In addition to the impact of academics in technological and scientific domains to fostering innovation, business schools also have a vital role to play. \n\nAt China Europe International Business School (CEIBS), I have found that my classroom input on corporate innovation and entrepreneurship has stimulated the thinking of "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"executive audiences"}},{"contentType":"text","value":{"formats":{},"data":" – and has also helped me refine my own ideas. \n\nFurthermore, top schools like CEIBS often have some entrepreneurship support programmes or centres that further facilitate the practice of innovation. A short while ago, I was invited to briefly share some core ideas from my book at the demo day of a corporate accelerator programme that had been run in partnership with "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"IIM Bangalore’s "}},{"contentType":"text","value":{"formats":{},"data":"NS Raghavan Centre for Entrepreneurial Learning (NSRCEL). \n\nThat’s further evidence of the possible synergies between academic institutions and corporate innovation activity.\n"}},{"contentType":"alsoRead","value":{"title":"[Year in Review 2021] Top ten changemakers of the year","thumbnail":"https://images.yourstory.com/cs/5/79900dd0d91311e8a16045a90309d734/collage1-1639488579193.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/socialstory/2021/12/socialstory-year-review-2021-top-ten-changemakers"}},{"contentType":"text","value":{"formats":{"header":3},"data":"[YS]: How was your book received? What were some of the unusual responses and reactions you got? \n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[SP]:"}},{"contentType":"text","value":{"formats":{},"data":" It has been gratifying to receive a lot of positive feedback. Particularly satisfying is that the core messages of the book seem to have been coming across clearly. \n\nFor instance, a piece in Forbes states: "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"“As Prashantham points out, all the companies that have taken start-up partnering seriously have a collaborative mindset.” "}},{"contentType":"text","value":{"formats":{},"data":"That’s spot on. Also, the piece in "}},{"contentType":"text","value":{"formats":{"bold":true,"italic":true},"data":"YourStory"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" "}},{"contentType":"text","value":{"formats":{},"data":"about my book is an incredibly good summary of its core ideas! \n\nIn addition, over the past three months, I’ve been invited to a number of "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"events and podcasts "}},{"contentType":"text","value":{"formats":{},"data":"which gives me the sense that the topic of corporate-startup partnering seems to be timely. \n\nAs for an unusual response, someone told me that they found my description about the"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" “paradox of asymmetry” "}},{"contentType":"text","value":{"formats":{},"data":"– the idea that the very differences that make corporations and startups attractive partners also make it challenging to collaborate – also applies to marriage! \n\nFinally, it’s been fun to receive pictures from people holding the book from around the world, which has resulted in this little "}},{"contentType":"text","value":{"formats":{"bold":true,"link":"https://www.youtube.com/watch?v=Cw_ZoDlFml0"},"data":"video."}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Startup17-1645110763909.png"}},{"contentType":"text","value":{"formats":{"header":3},"data":"[YS]: In the time since your book was published, what are some notable new examples of innovation partnerships you have come across?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[SP]:"}},{"contentType":"text","value":{"data":" One of the examples I mention in the book, Cisco LaunchPad, is one that I have continued to follow, and so while it’s not exactly a new example, I have followed more recent developments since the book was written. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"I think Sruthi Kannan and her team have done a splendid job of taking the programme online since covid struck, as also to work closely with alumni startups to enhance their impact during the pandemic. "}},{"contentType":"text","value":{"formats":{},"data":"As one example, Bangalore-based "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Cloud Physician"}},{"contentType":"text","value":{"formats":{},"data":" which proves remote technology services to hospitals’ intensive care units (ICUs) was able to partner with Cisco to make an important difference when India’s deadly covid wave struck, especially in smaller cities and towns. \n\nThe next edition of "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"Exploring Strategy,"}},{"contentType":"text","value":{"formats":{},"data":" Europe’s leading textbook on strategic management will include a case on Cisco LaunchPad that I’ve coauthored with Sruthi.\n"}},{"contentType":"alsoRead","value":{"title":"[Year in Review 2021] From unicorns to IPOs, top 10 Indian startup milestones this year ","thumbnail":"https://images.yourstory.com/cs/2/e641e900925711e9926177f451727da9/collage1-1640144660126.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2021/12/year-in-review-unicorns-ipos-top-10-milestones-2021"}},{"contentType":"text","value":{"formats":{"header":3},"data":"[YS]: Corporate intrapreneurs play a big role in accelerator partnerships, but their role is often misunderstood or underestimated. How should companies improve their ‘intrapreneur quotient’?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[SP]:"}},{"contentType":"text","value":{"data":" Many examples in the book feature intrapreneurs – such as Gregor Gimmy at BMW and Zack Weisfeld at Microsoft – who, in certain instances, chose to seek forgiveness rather than permission, at least to get going with startup partner programmes. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"So my first observation is that would-be intrapreneurs shouldn’t necessarily wait to be “properly” understood or appreciated to begin, if they truly believe in bringing about the change they are interested in. "}},{"contentType":"text","value":{"formats":{},"data":"That being said, it is of course important for companies to “improve their ‘intrapreneur quotient,’” as you put it. For this, "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"top leaders "}},{"contentType":"text","value":{"formats":{},"data":"have an important role to play in legitimising the notion of intrapreneurship. \n\nA case I refer to in the book, Intel’s GrowthX, could make steady progress under "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Kapil Kane"}},{"contentType":"text","value":{"formats":{},"data":" because it had the blessing of the company’s leadership, and today is poised to play an even bigger role in the company as a result of the positive impact it has had.\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Collaboration1-1645110790209.jpg"}},{"contentType":"text","value":{"formats":{"header":3},"data":"[YS]: Most of the case studies in your book feature big companies. What kinds of partnerships are possible between SMEs (small/medium enterprises) and startups? Any good examples you can cite here?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[SP]:"}},{"contentType":"text","value":{"formats":{},"data":" I have primarily been studying partnering between large corporations and startups. \n\nHowever, for small- and medium-sized enterprises "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"(SMEs) "}},{"contentType":"text","value":{"formats":{},"data":"– especially those that are M rather than S – that have strong innovation fundamentals and business strengths, there is no reason why they can’t engage effectively with startups. \n\nFor instance, innovative SMEs in Germany – referred to as the Mittlestand – have begun to engage with startups, notably from Israel, as indicated by an initiative called the German Israeli Network of Startups and Mittlestand "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"(GINSUM). "}},{"contentType":"text","value":{"formats":{},"data":"\n\nAlternatively, it may make sense for some SMEs to spin-off promising new ideas into startups that could then partner with large corporations.\n"}},{"contentType":"alsoRead","value":{"title":"[Year in Review 2021] Here are the trends that will reshape offline retail in 2022 and beyond ","thumbnail":"https://images.yourstory.com/cs/21/0a385fc03e6011e999df3d1594bbde2c/SMB-32-1640108346622.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/smbstory/offline-retail-shopping-trends-2022-online-marketplace-year-in-review"}},{"contentType":"text","value":{"formats":{"header":3},"data":"[YS]: What are some good practices you have come across in how corporate accelerators work alongside CSR and CVC (corporate venture capital)? How can the three be better aligned?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[SP]:"}},{"contentType":"text","value":{"formats":{},"data":" My sense is that it is still a work in progress for companies to integrate corporate accelerators, CSR and CVC. Part of the challenge is that some corporate "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"accelerators"}},{"contentType":"text","value":{"formats":{},"data":" focus on relatively early-stage startups (series A or earlier) whereas their "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"CVC "}},{"contentType":"text","value":{"formats":{},"data":"counterparts focus on more mature startups (series B or later). Over time, this distinction may begin to blur, and we may a more joined-up approach across these forms of startup engagement. \n\nIn terms of CSR intersecting with startup partnering, my research in Africa has identified some promising possibilities."}},{"contentType":"text","value":{"formats":{"bold":true},"data":" Microsoft"}},{"contentType":"text","value":{"formats":{},"data":" introduced a global social enterprise programme, which initially catered to ventures from Africa.\n\nIn "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Ghana"}},{"contentType":"text","value":{"formats":{},"data":" (where the Africa campus of my institution, CEIBS, is based), I came across an NGO called Reach for Change connecting social enterprises with large corporations that supported the former’s innovation (e.g. developing edtech solutions for less privileged children) using their CSR funds. \n\nAnother startup I came across called "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Kusini "}},{"contentType":"text","value":{"formats":{},"data":"makes water filters using clever frugal innovation. They partnered with DHL, leveraging that corporation’s CSR, to set up water filters in numerous hard-to-reach locations in South Africa. \n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Failure3-1645110809856.jpg"}},{"contentType":"text","value":{"formats":{"header":3},"data":"[YS]: The innovation journey often faces setbacks and failures. How should innovators interpret and bounce back from failure?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[SP]: "}},{"contentType":"text","value":{"data":"A quality that has become widely discussed as a result of the covid pandemic is “resilience” – and I suppose this is at the core of what all innovators need. But it’s not easy to be resilient. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"On the part of individuals, what I have seen in resilient people is that they typically combine realism with optimism, develop work-life balance and demonstrate tenacity as well as self-awareness and mindfulness. "}},{"contentType":"text","value":{"formats":{},"data":"In terms of organisations, they should anticipate that there will be many instances of failure, and provide intrapreneurs and innovators with a career path that includes options if an initiative does not work out. Importantly, the "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"organisational culture "}},{"contentType":"text","value":{"formats":{},"data":"needs to not merely tolerate but encourage proactiveness, innovativeness and (calculated) risk-taking – and help managers feel safe to try and fail.\n"}},{"contentType":"alsoRead","value":{"title":"[Year in Review 2021] Amid COVID-19, these 10 non-profits created social impact this year","thumbnail":"https://images.yourstory.com/cs/5/79900dd0d91311e8a16045a90309d734/collage-1640102486726.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/socialstory/2021/12/year-in-review-2021-covid-19-non-profits-social-good"}},{"contentType":"text","value":{"formats":{"header":3},"data":"[YS]: How should innovators evaluate weak signals and anecdotal evidence which seem to contradict quantitative market trends?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[SP]:"}},{"contentType":"text","value":{"formats":{},"data":" Great question! And a very tricky one – because things become extremely clear in hindsight, and extremely difficult to evaluate at the time. The only suggestion I have is to keep exploring multiple low-cost probes. \n\nAnd for large corporations, this is precisely what startup partnering offers. When weak signals emanate from "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"startup innovations, "}},{"contentType":"text","value":{"formats":{},"data":"and if these become triangulated from more than one source, that’s probably an indication that more attention should be paid to this. \n\nIncidentally, one of the challenges for large companies is that weak signals get picked up by different parts of the organisation – that don’t speak to each other. To reduce the chances of this happening, it’s important to cultivate entrepreneurial "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"boundary-spanners "}},{"contentType":"text","value":{"formats":{},"data":"who engage with different parts of the organisation, at least informally. \n\nAnd again, here, the people leading the "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"startup partnering"}},{"contentType":"text","value":{"formats":{},"data":" initiatives might be well placed to play this role.\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Leader9-1645110832280.png"}},{"contentType":"text","value":{"formats":{"header":3},"data":"[YS]: What are the key policy enablers for governments to support corporate-startup partnerships?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[SP]:"}},{"contentType":"text","value":{"formats":{},"data":" In my chapter on "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"Partnering with Startups around the World"}},{"contentType":"text","value":{"formats":{},"data":", I highlight a couple of instances in which local policymakers themselves have exhibited entrepreneurial behaviour to facilitate corporate-startup partnering. \n\nFor instance, in one example the policymakers essentially "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"combined their agendas"}},{"contentType":"text","value":{"formats":{},"data":" for attracting foreign investment and fostering entrepreneurship by setting up a year-long partner programme that acted as an “honest broker” to connect the subsidiaries of multinationals (like IBM) with local startups. \n\nIn another case, government officials in a smart city programme were able to use that initiative (rather than have to create a separate partner programme (to bring together large corporations with local startups. "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Creative and dynamic policymakers "}},{"contentType":"text","value":{"formats":{},"data":"are thus relevant not only at the national level but also at a local level (e.g. in states, districts and cities).\n"}},{"contentType":"alsoRead","value":{"title":"[Year in Review 2021] Meet the top 10 techies we celebrated this year","thumbnail":"https://images.yourstory.com/cs/2/b87effd06a6611e9ad333f8a4777438f/collage4-1639196680900.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2021/12/year-review-2021-meet-top-10-tech-leaders-we-celebrated"}},{"contentType":"text","value":{"formats":{"header":3},"data":"[YS]: What is your next book going to be about?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[SP]:"}},{"contentType":"text","value":{"formats":{},"data":" If all goes to plan, the next book will extend the idea of collaboration among non-traditional and very different allies to the Sustainable Development Goals"}},{"contentType":"text","value":{"formats":{"bold":true},"data":" (SDGs)"}},{"contentType":"text","value":{"formats":{},"data":" that deal with areas of sustainability and social impact (including climate change).\n\nIn a sense, it will be an expansion of the book’s final theme of partnering as a "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"force for good."}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/28b451402d6a11e9aa979329348d4c3e/Storytelling3-1645110875160.jpg"}},{"contentType":"text","value":{"formats":{"header":3},"data":"[YS]: What is your parting message to the startups and corporate innovators in our audience?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[SP]: "}},{"contentType":"text","value":{"formats":{},"data":"Keep trying – and use each experience as a stepping stone to improved efforts at corporate-startup collaboration!\n"}},{"contentType":"text","value":{"formats":{"header":3},"data":"[YS]: Any other comments or remarks?\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"[SP]: "}},{"contentType":"text","value":{"formats":{},"data":"I am pleased to be able to share ideas from my book, "}},{"contentType":"text","value":{"formats":{"italic":true},"data":"Gorillas can Dance,"}},{"contentType":"text","value":{"data":" with your readers given that India has played an important role in my research journey, and many of the examples in the book involve India and Indians in other parts of the world. \n"}},{"contentType":"blockquote","value":{"formats":{},"data":"I hope \u003cem>YourStory \u003c/em>readers will find the book useful in their own pursuits as entrepreneurs, intrapreneurs and innovators!"}}],"timeLapsed":"18th Feb 2022","publishedDate":"February 18, 2022"},{"id":233314,"title":"How Masoom Minawala transformed India’s fashion business one step at a time\r\n","slug":"masoom-minawala-influencer-transfor-india-fashion-bussiness-creators-inc","type":"RICH","subtitle":"On the second day of YourStory’s Creators Inc Conference, fashion and lifestyle influencer Masoom Minawala spills the beans behind her dizzying popularity. \r\n","publishedAt":"2022-02-16T02:30:00.000Z","updatedAt":"2022-02-21T13:15:54.694Z","brand":{"name":"YourStory","slug":"yourstory","locale":"en_GB","path":"/"},"metadata":{"authors":[{"name":"Debolina Biswas","username":"debolina-biswas-1","order":0,"path":"/author/debolina-biswas-1"}],"category":{"id":359,"name":"Interview","slug":"ys-interview","path":"/category/ys-interview"},"excerpt":"On the second day of YourStory’s Creator