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Is it time for investors to move beyond the valley when analyzing India?Dev Khare, Partner at Lightspeed agrees. He shares with us an interesting view on two funding models:The Silicon valley model begins with raising millions of dollars & going through huge negative cashflow for years. Hopefully building a great product or maybe even creating a new market. And a few years later, comes out with super fast growth & revenue potential of millions & billions of dollars.Whereas, in the Compounder model companies raise little to no funding in early days. They don't go to negative cash flow, instead growing slowly. Not at 3x ,but at 50% and keep at it for some 10 years building a large company. Thus becoming profitable in a few years following a slow J curve, and raising rounds only to accelerate growth.India has built exceptional companies in the software industry following this model. But, we can all sense that lack of approval for India's enterprise products, which we can confidently say has been achieved in the consumer markets.With 13+ years at Lightspeed, Dev has backed companies like PhysicsWallah, Razorpay, PocketFM, ShareChat, Darwinbox, Portkey.ai, Qure.ai, and Accel Data. Prior to VC, Dev started as a product manager then founded his company Covigo, a developer platform for mobile applications.This episode promises an interesting discussion on building companies in enterprise.0:00- Trailer1:12 - Early days at Lightspeed India8:11 - Learning curve of an Investor11:52 - How OYO fixed supply when Airbnb didn't16:37 - Is organic acquisition now the norm?19:02 - India must rediscover its AI edge20:20 - Compounder v/s silicon valley companies23:26 - Why Freshworks & Zoho chose mature markets?27:40 - Can India create SAAS category leaders?29:18 - Enterprise startups cap at 30%33:07 - How a $3.2B company found its niche37:42 - AI services & AI led services40:37 - Lightspeed's Investment thesis45:34 - Why we have 70% second-time founders?48:18 - Will ITC & Jio acquisitions set a trend?52:37 - Are software IPOs sparse?55:34 - India's enterprise buyer market is small1:04:47 - Missed investments & Lessons1:06:28 - Why is India having a lag effect in AI?1:10:19 - Has India built global enterprise products?-------------Hi, I am your host Siddhartha! I have been an entrepreneur from 2012-2017 building two products AddoDoc and Babygogo. After selling my company to SHEROES, I and my partner Nansi decided to start up again. But we felt unequipped in our skillset in 2018 to build a large company. We had known 0-1 journeys from our startups but lacked the experience of building 1-10 journeys. Hence was born The Neon Show (Earlier 100x Entrepreneur) to learn from founders and investors, the mindset to scale yourself and your company. This quest still keeps us excited even after 5 years and doing 200+ episodes.We welcome you to our journey to understand what goes behind building a super successful company. Every episode is done with a very selfish motive, that I and Nansi should come out as a better entrepreneur and professional after absorbing the learnings.-------------Check us out on:Website: https://neon.fund/Instagram: https://www.instagram.com/theneonshoww/LinkedIn: https://www.linkedin.com/company/beneon/Twitter: https://x.com/TheNeonShowwConnect with Siddhartha on:LinkedIn: https://www.linkedin.com/in/siddharthaahluwalia/Twitter: https://x.com/siddharthaa7-------------This video is for informational purposes only. The views expressed are those of the individuals quoted and do not constitute professional advice.Send us a text
Startups are integral to the Indian growth story. From grocery delivery app Zepto to HR software Darwinbox, we frequently come across news of Indian startups raising millions of dollars from venture capital (VC) funds. But why are startups, including deep tech ones, funded by a specific class of investors called 'VC'? Why are the stock market and the traditional banks not playing this role? How does a typical VC fund operate in India? What challenges do they face?In this episode of All Things Policy, Lokendra Sharma sits down with Shobhankita Reddy, a research analyst at Takshashila Institution with prior experience in the venture capital industry, to explore and explain the VC ecosystem in India. The PGP is a comprehensive 48-week hybrid programme tailored for those aiming to delve deep into the theoretical and practical aspects of public policy. This multidisciplinary course offers a broad and in-depth range of modules, ensuring students get a well-rounded learning experience. The curriculum is delivered online, punctuated with in-person workshops across India.https://school.takshashila.org.in/pgpAll Things Policy is a daily podcast on public policy brought to you by the Takshashila Institution, Bengaluru.Find out more on our research and other work here: https://takshashila.org.in/...Check out our public policy courses here: https://school.takshashila.org.in
The Shred is a weekly roundup of what's making headlines in the world of employment. The Shred is brought to you today by Jobcase.
Darwinbox bags $140 million as AI-powered SaaS startups continue to rake in big cheques. Ola Electric secures a Rs 73.7 crore incentive under India's PLI scheme, setting the stage for fierce EV competition. And in a cyber-thriller twist, India's tax officials might soon scan your WhatsApp chats for undisclosed crypto holdings. Plus, IT firms are cutting bench time while VCs ramp up AI investments. Tune in to Tech3 podcast from Moneycontrol's newsroom for all the top startup and tech updates!
In this episode of Raw Talks, we dive deep into the fascinating journey of Rohit Chennamaneni, the co-founder and CEO of Darwinbox, a billion-dollar company transforming the way businesses manage their human resources. Rohit's path to success is nothing short of inspiring. It's a story that begins with his time at McKinsey, where he discovered the importance of surrounding yourself with the best talent. McKinsey's secret to producing so many successful entrepreneurs like Rohit? They only hire the best, those who aren't just academically excellent but also bring unique perspectives beyond textbooks. According to Rohit, while McKinsey teaches you to break down complex problems into simple, actionable steps, the art of influencing or convincing people wasn't something learned in training—it came from his experiences outside the firm. Rohit opens up about the origins of Darwinbox, how the HR function in India is fundamentally different from the rest of the world, and why this disparity led him and his co-founders to create a tool that caters specifically to these unique needs. His perspective on whether an HR tool is necessary is clear: it's a must in today's business environment. But it wasn't always easy. He shares the challenges of closing their first sale, the internal discussions, the late nights, and the pressure of competition. Yet, in those early stages, the market was less crowded, which allowed Darwinbox to establish itself as a frontrunner in HR tech. A key part of Darwinbox's culture, Rohit says, is deeply influenced by his background in sports. He believes that sports teach you there will always be someone better than you, and this mindset drives a culture of constant improvement and resilience within the company. The win-lose strategy from the sports field translates well into business, where each failure is an opportunity to learn, grow, and refine your approach. Rohit's leadership has taken Darwinbox to over 12 countries, a journey that is far from over. But what about the challenges of scaling globally? Rohit discusses the complexities of expanding internationally, the IPO landscape in India, and how Darwinbox is leveraging AI in product development to stay ahead of the curve. One of the most interesting parts of our conversation is Rohit's take on the future of work. He talks about the current state of hiring and firing in organizations and offers advice to young professionals on which sectors they should consider as they plan their careers. Drawing from his extensive experience, Rohit sheds light on the shifting dynamics in the job market and how businesses are navigating the challenges of cost-cutting while still trying to innovate. In a candid moment, Rohit reflects on how not knowing everything has actually been a huge advantage. He believes that having too much information can sometimes make you overly cautious, preventing you from taking the necessary risks to achieve success. This philosophy ties back to his love for the Ramayana and Mahabharata, which, according to him, offer valuable lessons on embracing the grey areas in life and business. Sales, often seen as a mundane or downgraded job, is another topic Rohit is passionate about. He believes sales is one of the most critical functions in any business and should be seen as a valuable career path. In his own words, it's time we reframe how we think about sales—it's not just about door-to-door selling, but about relationship-building and creating value. The episode wraps up with a look at the global vision for Darwinbox. Rohit is determined to build not just a successful company, but a world-class brand that puts India on the global map. His love for Hyderabad and commitment to creating something meaningful from India for the world is a testament to his passion and dedication. Don't forget to like, subscribe, and hit the notification bell so you never miss an episode!
"To effect change and gain stakeholder buy-in, learning the art of implementation and adeptly addressing challenges is paramount. This is especially crucial for an HRBP striving to align with the business goals."Imagine charting a course for a career in physics, only to find your true calling in the field of Human Resources. That's the story of our guest in today's episode of The Shape Of Work, Ankit Menaria, HR Business Partner at BYJU'S, whose journey has been anything but conventional. With over eight years of extensive professional experience, Ankit has demonstrated his expertise in diverse organizational settings, including notable stints at Lipi Data Systems, Jindal Stainless, and Darwinbox. He pursued his B.Sc at Mohanlal Sukhadia University, followed by an M.S.W from the prestigious Udaipur School of Social Work.In this episode, Ankit discusses the hurdles he faced bringing e-learning to HR groups and how he overcame them with awareness and agility. From setting small, achievable goals to finding an accountability partner, he shares practical advice on making remote work, work for you.Episode HighlightsImportance of data accuracy in HR and the impact of culture in an organisationImportance of dressing professionally and highlighting benefits for stakeholdersChallenges of facilitating skills development and learning opportunities for employeesWhy is adapting to digitalization in the workplace important?Follow Ankit on LinkedinProduced by: Priya BhattPodcast Host: Riddhi AgarwalAbout Springworks:Springworks is a fully-distributed HR technology organisation building tools and products to simplify recruitment, onboarding, employee engagement, and retention. The product stack from Springworks includes:SpringVerify— B2B verification platformEngageWith— employee recognition and rewards platform that enriches company cultureTrivia — a suite of real-time, fun, and interactive games platforms for remote/hybrid team-buildingSpringRole — verified professional-profile platform backed by blockchain, andSpringRecruit — a forever-free applicant tracking system.Springworks prides itself on being an organisation focused on employee well-being and workplace culture, leading to a 4.8 rating on Glassdoor for the 200+ employee strength company.
MONEY FM 89.3 - Prime Time with Howie Lim, Bernard Lim & Finance Presenter JP Ong
Organizations are increasingly discovering the power of human centered AI, which is reshaping the workforce and transforming the role and overall contribution of HR to business results. In view of this, we speak with Chaitanya, Co-founder of Darwinbox to find out why companies should tap into the full potential of AI and how the landscape for it will thrive and grow manifold in the years to come.See omnystudio.com/listener for privacy information.
Join us as we talk to Rohit Chennamaneni, the Co-founder of Darwinbox about their story. Rohit Chennamaneni completed his Bachelor's degree in Technology from VIT Vellore and subsequently pursued his master's degree at IIM Lucknow. Following his education, he gained professional experience at renowned organisations such as Google, Procter & Gamble, and McKinsey & Company. Ultimately, in November 2015, he co-founded Darwinbox.
Sunil Vatave is the U.S. product advisor to DarwinBox, an HCM platform that helps build better workplaces. He brings a broad perspective to the topic of compensation, having been an employment lawyer, Vice President of HR, and HR technology provider. He joins us to discuss how to make compensation management a strategic advantage.
MONEY FM 89.3 - Prime Time with Howie Lim, Bernard Lim & Finance Presenter JP Ong
Businesses are giving a thrust to HR technologies with the ultimate goal to create a working environment that is secure, welcoming, and accessible to people from all walks of life and locations. But despite all that, why are some companies still resistant to embracing HR tech? Shaswat Kumar, Senior VP of Global Customer Success and Delivery, Darwinbox shares his views. See omnystudio.com/listener for privacy information.
In this Episode, we take a look back at 2022, revisiting the year that it has been and some of the best episodes on the show. Wishing everyone listening, Merry Christmas and a great close to the year, 2022. It's been another year since the podcast has been running and I could not be more thankful to all of you for listening and supporting this journey. As we conclude the year, I figured it would be interesting to try a different format and summarise the year, instead of a new Episode! And so through the episode, I go ahead and share a brief recap of the year that it has been for the Podcast, along with some very interesting best episodes + learnings through the year. We published 51 Episodes through the year before this one, which included 3 masterclasses and 48 episodes as a part of the general series without missing a single week of publishing through the year. From covering Gaming to Logistics to FinTech to Real Estate, this year had some of the most mature conversations on the podcast! Looking back, I have so many favorites - highlighting some is very difficult, but let me try. We had some great Venture Episodes through the year, including the one with Vikram of Matrix, Hemant of General Catalyst, Deven of Insight, Mridul of Elevation, Vaibhav of Better. The common learnings through these episodes around business cycles, sustainably winning, building culture at VC Funds and pattern recognition are a gold mine of insights. If you're looking to understand the Venture World better, this is a great place to dive deeper. I hosted some of the best Founders in the ecosystem through the year. Some unforgettable episodes include the ones with Vasanth of smallcase, Rohit of Darwinbox, Sai of MPL, Ankush of ShareChat, Ankit of CureFoods, Shashank of The Whole Truth, Gaurav of Yubi, Awais of Pixxel, Pratham of Masters' Union and Ruchi of Oxyzo. All of these episodes and the others, highlight distinct founder traits and learnings from journeys' which exhibit great perseverance, grit and passion for building. I am so grateful to have started the podcast and I continue to cherish each & every new conversation on the show. I would like to thank you all for supporting us through another very interesting year for the Startup Ecosystem and hope I can add value to your lives via the podcast, with each new Episode. Thank you, Stay Tuned & Keep Building. Wishing you all a great close to 2022! --- Special thanks to our sponsor for these episodes, Stride Ventures. Here is a quick note on them: Stride Ventures, which is one of India's leading Venture Debt Funds, becoming synonymous with innovative startup financing in India. Stride provides comprehensive solutions, going beyond venture debt, to cater to distinctive challenges faced by high-growth and inherently strong businesses, backed by leading institutions. The fund has a portfolio of over 60+ diversified companies, having deployed more than Rupees 1500 Crore to date. In just over two years, Stride Ventures has emerged as the preferred venture debt lender in the Indian Ecosystem. To know more about this phenomenal fund, visit - https://strideventures.in/
Understanding employees and making work-life more meaningful for them is pivotal in order for HR to be most effective. Juancho Jerusalem, Vice President & Head of APJ Expansion, Darwinbox shares how his company epitomizes these values as well as the future, of HR digitisation in Singapore. See omnystudio.com/listener for privacy information.
If there was one theme in the startup ecosystem that dominated 2021, it was unicorns! After all, 2021 saw the rise and rise of India's start-ups with the unicorn-base doubling. Out of India's 90 unicorns at the beginning of 2022, about 46 had emerged in 2021 itself. “The unicorn wave in India is still going strong: one unicorn has been added every five days within the first two months of 2022, and India is expected to have 100+ new unicorns in 2022” - HDFC Securities report And, in various quarters, the optimism has also carried on into 2022. According to an HDFC Securities report, accelerated funding activity is expected to create over 100 new unicorns in India in 2022. In fact, according to a report, from the beginning of 2022 till April-end, India saw the rise of 14 new unicorns. These are Fractal, LEAD, Darwinbox, DealShare, ElasticRun, Livspace, Xpressbees, Uniphore, Hasura, CredAvenue, Amagi, Oxyzo, Games24x7 and Open. All of this, has papered over some of the early indications in the ecosystem -- from corporate governance concerns to the sobering performance of some start-up IPOs. And, dark clouds could be around the corner. A number of venture capitalists recently told Business Standard that the pace at which unicorns will emerge in India might get a bit slower in 2022. One of the major reasons for this slowdown could be the challenges within the ‘soonicorn' ecosystem. In fact, only a handful of soonicorns have been able to raise funds in the first quarter of CY22. “The pace will reduce in the second half of the year due to global macro risks affecting liquidity. But net-net, we may still end up with a number close to that of 2021” - Anand Prasanna, Managing Partner, Iron Pillar Fund Iron Pillar Fund Managing Partner Anand Prasanna told Business Standard that the pace at which unicorns emerge would reduce in the second half of the year owing to the effect of global macro risks on liquidity. According to Prasanna, increasing customer acquisition costs, poor performance by some consumer tech unicorns that went for IPO recently, and India's macro-economic challenges could affect the pace of unicorn creation in 2022. Some other reasons for the slowdown are a spike in the US interest rates, the Russia-Ukraine conflict and of course the rising inflation. Another major reason for a slowdown in unicorn creation could be that After a frenzied investment activity in 2021, the market is likely to be cautious this year and investors much more choosy. This could be another reason for a slowdown in unicorn creation, and not necessarily a bad thing. There might be a need to slow things down and look at the sustainability of these unicorns. Let's start with valuations. Consider the funding lifecycle of a start-up. First comes the seed round. Then comes Series A, Series B, Series C, and pre-IPO series rounds, all of which usually culminate in an IPO. Now, as one news agency pointed out, there are doubts that the valuations, which multiply with every funding round, are based in a large part on opaque formulas. Metrics that are the gold-standard for traditional companies, from profit after tax to EBIDTA, are not generally useful when it comes to companies that continue to run in losses. Instead, cost of goods sold, GMV and active user counts are the valuation metrics that have to be used. This might not be a matter of great concern as long as it is the venture capitalists alone who are shelling out cash based on these valuations. But, it becomes unsettling when retail investors get involved through an IPO. Then there are matters of ethics and corporate governance. Amid reports of data fraud and tax evasion at Indian start-ups, the Commerce and Industry Minister Piyush Goyal recently said that new-age companies must strengthen ethical and corporate governance standards, otherwise, start-ups would earn a bad name. While Goyal didn't mention the name of the startups, his statement comes after
Mindtree and LTI, Mumbai-listed IT services companies that are part of the Larsen & Toubro group, are in advanced merger talks, according to Bloomberg and Economic Times. A merger plan may be announced as early as next week, Bloomberg reported on April 18. The companies have already been teaming up on larger contracts, Economic Times reported yesterday, citing Mindtree CEO Debashis Chatterjee. A merger would narrow the gap between the combined entity and Tech Mahindra, India's fifth-biggest IT services company, by revenue. By market value, the combined entity would surpass Tech Mahindra, at current share prices. Meanwhile, Makers Lab, the research and development arm of Tech Mahindra, has set up a Quantum Center of Excellence, called QNxt, in Helsinki, the company said in a press release. The centre will accelerate the adoption and commercialisation of quantum technologies globally. The European Union is a step closer to mandating USB Type-C chargers across electronic devices, which will be a blow to Apple, which continues to require its proprietary lightning charger for its iPhones and iPads. On Wednesday, the EU's Internal Market and Consumer Protection Committee adopted its position on the revised Radio Equipment Directive with 43 votes in favour and two against, according to a press release from the European Parliament. The EU wants to have a strategy by the end of 2026 that allows for minimum interoperability of any new charging solutions. Brave Software has released a new feature on the Brave browser, called Discussions, which will surface results from forums like Reddit, the company said in a blogpost yesterday. To find discussions, just search for what you want using Brave Search. Ashwin Damera, Founder and CEO of Eruditus and Emeritus has invested Rs. 240 crore ($32 Million) in venture debt finance company, InnoVen Capital India Fund. The investment was made through Ashwin's family office which is co-managed by Ashwin and his wife Bhagyashree Damera. Loop, a Pune-based healthcare and insurance startup has raised $25 million in a Series B round co-led by General Catalyst and Elevation Capital, the company said in a press release. Lightspeed has elevated three executives to the role of partner, on its early-stage investment advisory team, the VC firm said in a blog post on April 19. The three are Shuvi Shrivastava, who joined the firm as an associate in 2015, Pinn Lawjindakul, and Rahul Taneja, who both joined in 2020. Shuvi was responsible for Lightspeed's investments in startups such as Darwinbox, Uni, Pixxel, Rattle, Bhanzu, and xFlow. Pinn helped expand Lightspeed's operations in southeast Asia and Rahul Taneja was chief business officer before being named partner, according to the post. Theme music courtesy Free Music & Sounds: https://soundcloud.com/freemusicandsounds
In this Episode, I (@Jivraj Singh Sachar) speak with Rohit Chennamaneni, Co-Founder of Darwinbox. Darwinbox is a SaaS unicorn from India, which is reinventing HRTech for the World. Human Resource is one of the most crucial aspects for any organization and in turn one of the largest markets globally. For long, companies have relied on foreign solutions in a seemingly competitive market. However, Darwinbox chose to rethink the space from scratch and build the best in-class suite for HRTech in the world in 2015. Almost 7 years later, it is well ahead in its quest to build a global product company from Asia for the World and disrupt the entire segment. We discuss the following through this conversation: (Coming Soon..) About our sponsor: Stride Ventures, which is one of India's leading Venture Debt Funds, becoming synonymous with innovative startup financing in India. Stride provides comprehensive solutions, going beyond venture debt, to cater to distinctive challenges faced by high-growth and inherently strong businesses, backed by leading institutions. The fund has a portfolio of over 60+ diversified companies, having deployed more than Rupees 1500 Crore to date. In just over two years, Stride Ventures has emerged as the preferred venture debt lender in the Indian Ecosystem. To know more about this phenomenal fund, visit - https://strideventures.in/ Hope you liked the 92nd Episode on the Indian Silicon Valley Podcast - Reinventing HRTech for the World from Asia! That was it from this Episode, thanks again for tuning in! :) If you liked the episode, do share with your friends or drop us a quick review! Also, do follow us on social media to stay updated with all new episodes: Twitter: https://twitter.com/isv_podcast LinkedIn: https://www.linkedin.com/company/indian-silicon-valley-podcast/ Instagram: https://www.instagram.com/indiansiliconvalleypodcast/ Gallery of all Episodes: https://airtable.com/shrTOFf1z5UT0q9p8 You can also subscribe to the YouTube Channel of the Podcast : https://www.youtube.com/c/IndianSiliconValley/ "If you never try, you never know" Stay Tuned, Keep Building.
School of Marketing for Small & Medium Businesses by Branding by Pixels
Top 5 Indian Startup News for week ending 29th Jan 2022 1.Zomato shares tank 10%, down 48% from 52-week highs 2.Boat-owner Imagine Marketing files for Rs 2,000 crore IPO 3.Netflix investor takes HR tech startup Darwinbox into unicorn club 4.Swiggy turns decacorn; closes $700 million round led by Invesco at $10.7 billion valuation 5.Curefoods merges with rival Maverix to create cloud-kitchen giant Visit our website here: http://brandingbypixels.com/digital-marketing-services/ Some of our success stories at our company include: 1. Ranking our preschool client consistently in the first page of google within 3 months without spending a single rupee on ads 2. Increasing the admission rates in a preschool from 20% to 70% by our SEO & Social Media Marketing Strategies 3. Achieve an ROI of 1600% for our E-commerce client. 4. Consistently ranking our clients in the first page of Google only with organic SEO 5. Increase page likes, shares & engagement by 500% for our restaurant client on Facebook. 6. Increasing revenues of our client selling on amazon by 3X times. I am Sirisha Varma, Founder, Chief Strategist at Branding by Pixels a Business Strategy Design and Digital Marketing company from India. Reach out to me for any business strategy and digital marketing questions on sirisha@brandingbypixels.com Youtube link - https://www.youtube.com/channel/UCNS8Qp9JskXUofeyIiOEa6A Website link - http://brandingbypixels.com/digital-marketing-services/ My E-book on "17 Business Rules for Dummies" on amazon.com - https://amzn.to/3mcU4BZ My E-book on "17 Business Rules for Dummies" on amazon.in - https://amzn.to/374Ii8n Happy Marketing!
The Desi VC: Indian Venture Capital | Angel Investors | Startups | VC
Anjali Bansal is the Founder of Avaana Capital which invests in and provides scaling up support to innovation-led startups for catalyzing impact at scale while delivering commercial returns.Anjali has invested in and mentored various successful start-ups including Delhivery, UrbanClap, Darwinbox, Nykaa, and Lenskart. She is closely associated with NITI Aayog's Women Entrepreneurship Platform, digital solutions, and mentor to the Atal Innovation Mission.Anjali is former Non-Executive Chairperson of Dena Bank, appointed by the Government of India to steer the resolution of the stressed Bank, eventually leading to merger with Bank of Baroda. She was earlier a global Partner and Managing Director with TPG Growth PE responsible for India, SE Asia, Africa and the Middle East. She started her career as a strategy consultant with McKinsey and Co. in New York.She serves as an independent non-executive director on several leading boards including Tata Power, Bata, Kotak AMC, and Piramal Enterprises. She has previously chaired the India board of Women's World Banking, a leading global livelihood-promoting institution and on the Managing Committee of the Indian Venture Capital Association.She has been elected as President designate, Bombay Chamber of Commerce and Industry, and serves on the CII National Committee on Corporate Governance. Anjali previously co-founded and chaired the FICCI Center for Corporate Governance program for Women on Corporate Boards. She is a member of the Young Presidents' Organization and charter member of TiE.In this episode, we will cover:1. Looking back at India's most recent boom cycle i.e. 2020-present (2:50)2. Skeptical about this period or a believer of the potential? (7:50)3. Evolution of Anjali's career (11:55)4. The role of empathy and insecurity in professional life (16:56)5. What is Anjali's purpose behind investing (23:21)6. Why venture and how do you measure the impact of your own in venture beyond capital returns (28:57)7. The India opportunity (37:54)8. How does Avaana think about the evolving venture landscape and where to place their bets (42:25)9. Anjali's journey as an LP (47:01)10. Advice for fund managers (53:18)11. Advice for founders (56:18)
Last fortnight, DarwinBox raised $72M and became a unicorn, continuing the momentum of unicorns in 2021 and becoming the first pure-play Indian HR tech company to do so. Link to full article here: https://ajuniorvc.com/darwinbox-hr-saas-unicorn-india-startup-sap-oracle-hrm-case-study/
This week in Indian startup news, Ola's electric car, Memechat turns memes into NFTs, Daler Mehndi's metaverse concert and Boat files for Rs 2,000 crore IPO. In funding news, Darwinbox raises $72 million to become a unicorn, Swiggy raises $700 million and StanPlus raises $20 million. Ola's electric car: Ola's co-founder and CEO Bhavish Aggarwal posted a digital rendering of an electric car – hinting towards their plans to launch their own electric cars after launching their electric scooters. They have now raised $200 million at a $5 billion valuation to realise their dream of launching their own electric car. Memechat turns memes into NFTs: Meme creating and sharing platform Memechat has launched their own NFT marketplace called The Meme Club (TMC) - allowing creators to create and sell their own memes as NFTs. After witnessing the craze of NFTs across the world, Memechat wants to replicate the same success in India through memes. Daler Mehndi's metaverse concert: On 26th January - India's 73rd Republic day, Indian singer Daler Mehndi performed in a concert in the metaverse. This concert also marked the launch of Partynite - a metaverse platform launched by Hyderabad-based gaming company Gamitronics which hosted the metaverse concert. Boat files for Rs 2,000 crore IPO: Imagine Marketing, the parent company of consumer electronics brand Boat, has filed for an IPO. They want to raise up to ₹2,000 crore through the IPO - which would value them at over $1.5 billion - which is considerably higher than their previous $300 million valuation last year. Out of ₹2,000 crore - ₹1,100 crore will be offer for sale - which means giving their investors an option to sell their shares and the remaining ₹900 crore will consist of fresh issue - which will be used to pay off their debts. Darwinbox raises $72 million to become a unicorn: SaaS-based HRtech platform Darwinbox has raised $72 million in a round led by TCV – making them India's fourth unicorn of 2022. The startup wants to use the fresh capital to add more products to their HR management portfolio and expand into the US market. Swiggy raises $700 million: Food delivery giant Swiggy has raised $700 million in a round led by Invesco at a $10.7 billion valuation – making them a decacorn. Swiggy is now even bigger than Zomato in terms of valuation and they will be using the fresh capital to further expand their rapidly growing instant grocery delivery business. StanPlus raises $20 million: Ambulance service provider StanPlus has raised $20 million in a round led by HealthQuad, Kalaari Capital, and HealthX Capital Singapore to bring down ambulance response time from 18 minutes to just 8 minutes using their ambulance fleet.
Google tracks you even when your location is turned off, US states allege Google tracks people's movements using information from its search engine, Maps app, Wi-Fi and Bluetooth services even after users turn off location tracking, three US states allege in a lawsuit, Reuters reports. Texas, Indiana, Washington State, and the District of Columbia sued Google on Monday over what they called deceptive location-tracking practices that invade users' privacy, according to Reuters. “Google falsely led consumers to believe that changing their account and device settings would allow customers to protect their privacy and control what personal data the company could access,” Washington, D.C., Attorney General Karl Racine's office said in a statement. Yet Google “continues to systematically surveil customers and profit from customer data," which was "a clear violation of consumers' privacy,” the statement added. Boeing adds $450 mln to air taxis venture with Google co-founder Page Boeing is investing a further $450 million in Wisk Aero, its joint venture with Kitty Hawk, a company backed by Google co-founder Larry Page to develop small, pilotless aircraft for short passenger hops in and around cities, The Verge reports. Wisk says it will use the new funds to undertake a period of rapid growth, adding new employees to its current workforce of approximately 350 people, and kicking off a manufacturing process that it says will result in a full-scale, commercially operational air taxi business within the next five years. Once that happens, the company predicts that it will conduct 14 million flights annually in around 20 major markets around the globe. Delhi releases draft regulation on e-mobility for food tech, ecommerce The Delhi government has released a draft regulation for the transportation activities of various tech companies, including food delivery, ride-hailing apps and e-commerce in the National Capital Region, Economic Times reports. The draft focuses on electrification, bringing transparency in pricing and access to data—like the number of drivers on the road, the quality of vehicles, drivers' ratings, movement—and ensuring adequate customer care service is in place. The state government has given three weeks for public feedback. DarwinBox turns unicorn after $72 million series D funding from TCV Darwinbox, a cloud software provider for human resources management, has become India's latest unicorn, being valued at $1 billion after raising $72 million in a new round of funding, the Hyderabad startup said in a post on its website. The investment was led by Technology Crossover Ventures, known for its investments in Netflix, Facebook, Spotify and Airbnb, with participation from existing investors—Salesforce Ventures, Sequoia, Lightspeed, SCB 10X, JGDEV, Endiya Partners, and 3One4Capital. This brings DarwinBox's total funding to more than $110 million, the company said. Theme music courtesy Free Music & Sounds https://soundcloud.com/freemusicandsounds
HRM is a crowded space with 200+ companies out there and has many one trick pony solutions like Performance management system, Payroll, ATS, Goal management, OKRs, Timesheets, Attendance check-in, check-out etc. Venturing into such a market in itself is challenging, and to add on to it, imagine if you're building a full stack HRM product. David versus Goliath is of the past, here we have Darwinbox versus Goliaths. Darwinbox is a Hire to retire HR tech product used by an intern to CEO of a company. They have 600+ enterprise customers including more than 35 unicorns, 1.2 million end users or employees who use the platform day in and day out for different HR aspects across multiple sectors across Asia. In this episode explore with Rohit of Darwinbox as Suresh unravels their journey of slowly and steadily replacing legacy HRM systems in enterprises. Here's more on what you can learn from this episode. - How Asian market makes you efficient and gets you ready for the world? - How to structure a SaaS lead generation engine for the SEA market? - What're the market characteristics of Philippines, Indonesia, Singapore in terms of deal size, closing duration, pricing multiples? - Why is South East Asia better paced than India as a market? - What're the local companies in SEA focused at? - What're the two critical weaknesses of legacy systems that you can leverage on? - How has India made them extremely efficient? - What's the story with SBI which got them international customers? - What's the ideal sales strategy for enterprise SaaS? - How to take care of SaaS customizations versus scalability using products? - How is SEA different from India as a SaaS market? - How to compete against legacy SaaS players? - Early-stage sales playbook for enterprise SaaS - How to scale an enterprise SaaS product? - The SaaS advantage in SEA
The Saas industry in India is rapidly growing and having a great team can change the trajectory. Listen to scale your startup from scratch! -------------------- Know more about us: https://www.thebuildersclub.me/We hold Watercooler Chats every Saturday - This is an interactive voice chat we have as a community about a topic with an industry expert. Join the discussion here: https://discord.gg/rvMNmVHb7k Get notifications of all TBC events right on WhatsApp: https://chat.whatsapp.com/Gxix0FidfvrATGmZ39DJow.
With so many Indian startups achieving unicorn status in 2021, the situation begs an answer to the question: # Is this growth sustainable or are we in a bubble?# What does this mean for foreign and Indian investors? #What does this mean for the next decade of VC and Startups? To understand this better, in today's episode, we've brought Anjali Bansal, founder of Avaana Capital, that invests in innovation-led start-ups creating sustainability and impact at scale while delivering outsized returns. Previously, Anjali has been Global Partner and MD with TPG Growth PE and a strategy consultant with McKinsey and Co. in New York. She's also the former non-executive Chairperson of Dena Bank, where she successfully led the resolution of the stressed bank.She has invested in and regularly mentors various successful start-ups including Delhivery, Nykaa, Alpha Vector, Lenskart, Urban Company, Darwinbox, Coverfox and FarMart.She is closely associated with NITI Aayog's Women Entrepreneurship Platform and Digital Solutions and is on the Expert Advisory Committee for the Start Up India Seed Fund Scheme. She has been appointed as President, Bombay Chamber of Commerce and Industry, and serves as an independent director on several leading boards including Tata Power, Kotak AMC, and Piramal Enterprises.During the episode, Anjali talks about the volatility in the Indian startup ecosystem, the opportunities for entrepreneurs and investors; she also shares learnings from her portfolio and much more.Notes - 00:40 - Intro and background02:55 - Working at ISRO and early career04:59 - Ideology behind Avaana Capital08:22 - Is the Indian startup ecosystem in a bubble?17:21 - Common patterns and learnings from the winners20:50 - Mistake: Investing in the idea and not the team22:44 - Ability to move quickly as a fund34:49 - Learnings from early-career at Mckinsey36:29 - Potential in Indian startups41:01 - What all she prefers to read on a daily basis
‘A company's culture defines how you adopt the tech'If you care about people analytics, Ranaq is someone you should know. Before his current role as Associate Director - People Tech and Analytics at Mobile Premier League (MPL), Ranaq served as HRMS Implementation Lead - South India at Darwinbox.On this episode of The Shape of Work podcast, we talk with Ranaq about both these roles, in addition to a smorgasbord of other insights:Starting point of his journey with PeopleTechAt what stage companies should start taking care of the dataFirst set of PeopleTech recommendationPreferences- Engagement, recognition, rewards. In that order...The right time to bring in a robust feedback and performance management systemHow much culture defines tech? Does tech also reiterate the culture and values of the company?Ways to motivate employees to adopt new technology in less possible timeIdeal HR tech stack he would recommend to a high-growth companyThe right time to use the gathered employee data for analyticsAt what stage should companies start taking care of the data?The earlier, the better. Suppose there's a company with 80 people working in it, and there is no documented data in the company as their communication was verbal. Here, starting with documentation from scratch is troublesome. When your company has only a few members, begin to document data. When you've reached a higher number later, you will have the past data to refer to. This will help you avoid biases.The first set of People Tech recommendationRanaq advises the company to move away from Excel. When the employee count crosses the threshold of 20, the company should start maintaining data, and when it crosses 100, investment in some lightweight HR tools will help. These HR tools will help in solving the lapses and capturing data on the back end. Start small, slowly move on, and don't make change too many changes to the database.The company would always want to know who its best employees are and how they are performing. If they don't have data, the company may end up recognizing the wrong talent.The right time to bring in a robust feedback and performance management systemStart at an early stage and with light tools. Then, gradually shift to robust systems.The negligibility in not maintaining the data will hinder having People Tech on board in the system. If it's 20-30 employees, it's possible to collect the data and start working on it. When the number rises to 100+, it is difficult but possible. But once the employee count is beyond 1000+, it is downright impossible. It's recommended that whenever your company's team member count crosses 100, start storing data somewhere. Many free tools can be availed, and when your count increases to a threshold of 200 or more, bring a robust system on board.How do you make people use technology?Buying from the top and a push from the top—is the secret mantra to get people to use technology and get accustomed to it.If the founder of a company says they won't accept anything out of the system, or when they say that they'll review the performance of employees only based on data in the system, the employees will have no other way left but to become friendly with the system.Follow Ranaq on LinkedIn, Twitter and his blogProduced by: Priya BhattPodcast host: Abhash Kumar
The VCpreneur: Startups | Venture Capital | Entrepreneurship | Fundraising
In this episode, Anurag Ramdasan (Partner@ 3one4 Capital), joins our host Digjay, to talk about his path leading up to 3one4 capital, overcoming the venture capital learning curve & key skill sets required to break into VC, the decision making process at 3one4, learnings from anti-portfolio startups, supporting startups in their follow-on fundraise, establishing a strong VC brand & more. 3one4 Capital is one of the top performing early-stage VC firms in India with a portfolio of 50+ active startups including startups like Koo, Licious, Open, Darwinbox, Betterplace. Anurag leads investments at 3one4 Capital and has been with the fund since its inception in 2016. Anurag spends a lot of his time working with portfolio companies and their founding teams across tech, product, business strategy and fundraising. Previously he led tech & was the first employee at the bay area-based edtech startup, Edcast. Anurag is also the founding member of Code For India, a not-for-profit organisation, centered on getting engineers to work with & develop technology solutions for other NGOs. You can connect with him here on Linkedin/Twitter. ---- Show notes: (01:27) Anurag's background & path leading up to venture capital (04:42) Overcoming the venture capital learning curve; What skillsets are required to break into VC? (13:51) Decision making process at 3one4 Capital (16:27) Learnings from Anti-portfolio startups (21:14) Supporting startups in their follow-on fundraise; What do the best founders focus on most when raising a follow-on round? (26:07) Establishing a strong VC brand (29:27) How has being a VC influenced Anurag's personality over the years? (32:17) Rapid fire and closing remarks ---- If you liked our episode, you can subscribe to our podcast on any podcast platforms of your choice (like Spotify & Apple iTunes). We would appreciate if you could leave us a review on Apple iTunes. This helps others discover the podcast organically. You can visit thevcpreneur.com and follow us on Twitter @thevcpreneur_ & Instagram @thevcpreneur for more episodes and interesting insights on the startup ecosystem. You can also follow our host Digjay here on Linkedin & Twitter
People are the biggest assets of any organization. While there is a core HR department in every organization, not many have been able to effectively use technology to solve the needs and requirements of their employees. This is where Darwinbox came to the rescue. In a candid chat with Akshay Datt, Rohit Chennamaneni, Co-Founder, Darwinbox, takes us through his inspiring journey. He is an alumnus of IIM Lucknow and has worked for giants like Google and McKinsey before setting off his entrepreneurial journey. Rohit fondly recalls his days at McKinsey. While working for clients, he realised that they did not have the best HR systems. He identified this gap and founded Darwinbox in 2015 with Jayant Paleti and Chaitanya Peddi. Jayant and Chaitanya have worked with Ernst & Young and faced similar situations with their clients. Today, Darwinbox operates in the same space as Oracle and SAP and serves more than a million employees across 500 global enterprises in more than 60 countries, and is backed by prominent investors like Salesforce, Sequoia and 3one4 Capital. Tune in to this episode to hear Rohit speak about how Darwinbox is helping enterprises streamline the HR function through its hire-to-retire Human Capital Management platform. What you must not miss! Player's mindset and entrepreneurship. Experience in working with Google and McKinsey. Fundraising journey. Secrets to scaling a venture.
Darwinbox has big plans for its latest round of funding, led by Salesforce Ventures. The enterprise HR technology platform, which grew 300% after its last funding round in 2019, observed a surge in adoption during the pandemic and is now gunning for further growth. We speak with Darwinbox Co-Founder Rohit Chennamaneni about their recent fundraise streak, how they caught the attention of Salesforce Ventures, and their gameplan to become the market leader in the Human Capital Management space.
Anurag Ramdasan leads investments at 3one4 Capital. 3one4 Capital is an early-stage tech VC firm with a portfolio of 50+ active startups. Anurag has been with the firm since 2016, leading the investment practice. Previously he led tech at the bay area-based edtech startup, Edcast. 3one4 Capital has a portfolio of companies including Licious, Open, Darwinbox, Betterplace, MoneyOnClick.
Welcome to another episode of The Startup Operator Roundup, where Roshan Cariappa and Gunjan Saha discuss -
The VCpreneur: Startups | Venture Capital | Entrepreneurship | Fundraising
In today's episode, Pranav Pai, Founding Partner @3one4 Capital joins our host Digjay, to share about his journey leading into venture capital, how 3one4 Capital differentiates itself from other VC funds, challenges of founding and managing a venture capital fund, the key metrics used at 3one4 Capital to measure it's performance as a VC fund and preparing their portfolio companies for a crisis. Pranav is a Founding Partner at 3one4 Capital - an early-stage venture capital fund based in Bangalore, India. The fund manages a corpus of ~INR 800 Cr (+$110MM) with a portfolio of 50+ early-stage investments across various technology, product, and platform companies in India and US. Pranav has been awarded the “35 under 35” Entrepreneurs of India for 2017 and the “40 under 40” Alternative Investments Professionals of India for 2020. Some of his investments include Licious, Betterplace, Open, Jupiter, ToneTag, DarwinBox, Faircent, Bugworks, Pocket Aces, YourStory, and Tracxn. Pranav is a Stanford Alum, and is the co-president of Stanford Angels & Entrepreneurs India. You can connect with him here on Linkedin / Twitter If you liked our episode, you can subscribe to our podcast on any of the major podcasting platforms like Spotify, Apple iTunes and Google Podcasts. Please leave us a review on Apple iTunes and help others discover this podcast. You can visit thevcpreneur.com and follow us on Twitter @thevcpreneur_ & Instagram @thevcpreneur for more episodes and interesting insights on the startup ecosystem. You can also follow our host Digjay here on Linkedin / Twitter Show notes – 1. Pranav's background and path to Venture Capital (VC) 2. How is 3one4 Capital different from traditional VC funds? 3. Attracting the best startups; Startup evaluation process at 3one4 Capital 4. Learnings from his time at Stanford and working in the Bay Area 5. Challenges of launching a Venture Capital fund 6. How does 3one4 Capital assess its own performance as a VC fund? What are the qualitative aspects that they focus on? 7. How to prepare yourself and your portfolio companies for a crisis; Surviving the pandemic 8. Rapid fire questions and closing remarks
The Desi VC: Indian Venture Capital | Angel Investors | Startups | VC
Pranav Pai is the Founding Partner at 3one4 Capital, an early-stage VC firm based in Bangalore focused on investing in select market categories such as D2C, Media & Content, Fintech, Enterprise Automation and Deep Tech. Some of their portfolio companies include YourStory, Tracxn, DarwinBox, FairCent, MagicCrate among many others.Pranav is deeply involved with the startup ecosystem in India and he leads 3one4 Capital's partnerships and co-investments in the San Francisco Bay-Area as well. Through the fund, he has invested in over 50 companies in India and the US, and works closely with a funding ecosystem of over 20 different investment vehicles.Previously, he was the Sr. Product Manager at EdCast, an ed-tech startup in the Bay Area. He graduated with a Master's in Electrical Engineering from Stanford University in 2013. Pranav serves on the board of several startups and also volunteers on the advisory boards and steering committees of non-profits that work in areas he is passionate about.You can follow Pranav (@pai_dpiper) and 3one4 Capital (@3one4capital) on Twitter. While you're at it you may also follow our host, Akash Bhat - @bhatvakash and visit us at thedesivc.com to know us better.…Glossary of terms you will encounter in this episode:1. NBFC – Non-Banking Financial Companies.2. Follow-on Funding: Follow-on funding is a subsequent investment made by an investor who has made a previous investment in a startup.3. Pro-rata: Pro-rata clause in an investment agreement which gives an investor a right (but not the obligation) to participate in one or more future financing rounds to maintain their percentage stake in the company.4. Anti-portfolio: Anti-portfolio are some of the great investments where you had the opportunity to participate but missed for one reason or many.5. Thematic Investing: Thematic investing is a form of investment which aims to identify macro-level trends, and the underlying investments that stand to benefit from the materialisation of those trends.…In this episode, you'll learn about:1. The motivation behind getting started in VC2. Why 3one4 Capital invests 50-80% into their own fund3. Pranav's take on investment trends, thesis development and parachute VCs4. How 3one4 Capital looks at collaborating with other VCs and why India is becoming a deeper venture market today5. How Pranav and his team identify great startups and the metrics they look for6. Geographies in India that are most exciting at the moment from an investment lens7. His anti-portfolio or in other words, the companies he ended up passing on…you do not want to miss this part!!8. One thing that changed the way the world looks at India and Indian startups9. How B2B startups are changing the game for the Indian ecosystem10. His tips for fund-raising