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In today's Tech3 from Moneycontrol, we dive into how RCB's historic IPL win is pushing up its brand value, and what that means for Virat Kohli. We also track UPI's meteoric rise as it threatens to overtake Visa in daily transactions. Plus, Zepto puts its IPO on hold till 2026 amid internal challenges, and OfBusiness gears up for its $1 billion IPO by expanding deeper into manufacturing and apparel. Tune in for more startup and tech updates.
This is an essential episode for any drinks brand founder looking to break through the noise and build something truly disruptive. Contributor Caroline Lamb sits down with Aaron Trotman, founder of NON, who has not only pioneered the non-alcoholic wine alternative category — he's redefining what premium non-alcoholic beverages can be. With a chef-driven approach, meticulous ingredient sourcing, and a relentless focus on quality, NON has earned a place on the menus of the world's top restaurants and is now scaling globally.In this episode, Aaron shares:Creating a new category – How NON was inspired by fine dining NA pairings and built with a culinary mindset, not as a wine mimic but as an entirely new premium experience.How to win over sommeliers – The strategy behind launching NON directly into top-tier restaurants before expanding into retail.Breaking into the U.S. market – The challenges and advantages of setting up NON as its own importer and signing a major distribution deal with Southern Glazer's.Why transparency matters – Aaron's commitment to using real, traceable ingredients, and how this transparency has helped build credibility in the natural wine space.Bootstrapping, then scaling – NON started as a self-funded project before raising investment capital to scale production to more than 500,000 bottles a year.Staying premium in a crowded category – NON refuses to chase volume at the expense of brand integrity, avoiding mass retail and instead focusing on independent and regional chains.Last Call:In this week's Last Call segment, co-hosts Scott Rosenbaum and Erica Duecy discuss new products on their radar, from non-alcoholic innovators like Van Sha and Winderton Citrus Aperitivo to unexpected entrants like Sango African Agave, an Tequila-like spirit from South Africa and Cheramie Rum, a new agricole-style cane spirit made in Louisiana.Don't miss our next episode, dropping on 2/19.For the latest updates, follow us:Business of Drinks:LinkedInInstagram @bizofdrinksErica Duecy, co-host:Erica Duecy is founder and co-host ofBusiness of Drinks and one of the drinks industry's most accomplished digital and content strategists. She runs the consultancy and advisory arm ofBusiness of Drinks and has built publishing and marketing programs for Drizly, VinePair, SevenFifty, and other hospitality and drinks tech companies.LinkedInInstagram @ericaduecyScott Rosenbaum, co-host:Scott Rosenbaum is co-host ofBusiness of Drinks and a veteran strategist and analyst with deep experience building drinks portfolios. He currently serves as North America Search Manager at Distill Ventures. He was formerly the Vice President of T. Edward Wines & Spirits, a New York-based importer and distributor.LinkedInCaroline Lamb, contributor:Caroline is a producer and on-air contributor atBusiness of Drinks and a key account sales and marketing specialist at AHD Vintners, a Michigan-based importer and distributor.LinkedInInstagram @borkalineIf you enjoyed the conversation, followBusiness of Drinks wherever you're listening, and don't forget to rate and review us. Your support helps us reach more listeners passionate about the drinks industry. Thank you!
Kelley Earnhardt Miller is joined in this episode ofBusiness of Motorsports by Antron Brown, a 4-time NHRA Top Fuel Champion and the successful team owner of AB Motorsports.In this interview, Antron Brown shares his incredible journey from New Jersey to becoming an NHRA Top Fuel legend. From his family's humble roots in racing to earning four championships, Antron reflects on the hard work, leadership, and sacrifices that fueled his rise in NHRA racing. He also discusses his early days as a Pro Stock Bike racer, the bold decision to start AB Motorsports, the challenges of owning a team in motorsports, and his future plans to mentor the next generation of racers.
Aakash Kumar is a Managing Director at Z47 & DeVC. Aakash likes to partner with founders in that early stage to enable them to generate maximum momentum. In the past, as an active angel investor, he has enabled 100+ founders to start and build compelling businesses. In this episode, we talk about - - Aakash's operator experience at companies like Housing(dot)com & Hotstar - The investment thesis at Z47 - Why did they rebrand from Matrix Partners to Z47? - The thinking behind investing in companies like Ola Electric, Razorpay, OfBusiness in the early stages? - The massive India opportunity - Common mistakes founders make in the early stages of the business & lots more Links: ⭐Sponsored by Podcast10x - Podcasting agency for VCs - https://podcast10x.com Z47 - https://www.z47.com/ DeVC - https://www.devc.com/ Follow Aakash on LinkedIn - https://www.linkedin.com/in/kumaraakash Follow Aakash on X - https://x.com/RTinkslinger
Welcome to Top of the Morning by Mint, your weekday newscast that brings you five major stories from the world of business. It's Monday, July 29, 2024. My name is Nelson John. Let's get started:Some massive consolidation happened in the cements segment yesterday: UltraTech Cement is buying a 32.72% stake for nearly 4,000 crore rupees, and making an offer for 26% more, taking the deal to nearly 9,000 crore rupees. Anirudh Laskar reports that if things go as planned, UltraTech will own over 81% of India Cements. Meanwhile, Adani-owned Ambuja Cement is also increasing its production capacity to compete. The Reserve Bank of India reported that bad loans in banks are expected to decrease to 2.5 percent by FY25 under normal stress conditions. Shayan Ghosh writes that the report highlighted improvements in the banking sector's health, with a record low bad loan ratio of 2.8 percent last year. Public banks lead in bad loan ratio, but the overall situation is improving due to fewer new bad loans and increased write-offs. Personal loans are a concern, and the RBI is closely monitoring the situation.The 2024-25 budget introduces tax changes to benefit those involved in international transactions. It lowers the long-term capital gains tax for investing in foreign stocks and eases the process for remitting money overseas, among other provisions. Jash Kriplani writes that these changes aim to simplify tax calculations and make international investments more attractive for Indian investors.Softbank Investment Advisors, a Japanese tech-focused investment firm, is expecting significant returns from its investments in the Indian market as several of its portfolio companies prepare to go public this year. Sneha Shah and Ranjani Raghavan write that Ola Electric Mobility, Firstcry, and Unicommerce are among the companies planning to go public. Softbank's India portfolio has nearly peaked to 14 billion dollars, and the firm has made over 5.5 billion dollars in exits from its India portfolio. Softbank is anticipating a wave of tech IPOs in India, and its other potential IPO investments include Flipkart, OfBusiness, Lenskart, and Oyo.Artificial intelligence was tech's next big thing. Billions of dollars have been poured into it by every investor and big tech company. But where are the results? We were told that AI would change everything — but it's shown little utility so far. Research suggests that additional investments of 1 trillion dollars need to be made to make further advances in AI. Shelley Singh looks into the industry, and speaks to industry veterans who give their 2 cents on the future of everything AI.We'd love to hear your feedback on this podcast. Let us know by writing to us at feedback@livemint.com. You may send us feedback, tips or anything that you feel we should be covering from your vantage point in the world of business and finance.That's all for today. Thank you for listening.We're eagerly looking forward to our next Top of the Morning episode, which will be packed with fresh business news. Until then, have a great day!Show notes:Ultratech to buy out India Cements as Birla sharpens battle against Adani GroupRBI projects further moderation in bank NPA to 2.5%How the budget has eased the rules for international transactionsSoftbank eyes windfall as key portfolio companies line up IPOsIt's swallowed billions of dollars, but has AI lived up to the hype?
Join Asish Mohapatra, Co-founder and CEO of OfBusiness, and Rupali Sharma on the latest episode of "People First" by Matrix Moments. Explore OfBusiness's remarkable journey and unravel the intricacies of building a resilient organization. This episode covers:
Dive into the dynamic world of entrepreneurship in this exclusive conversation at the Bombae Pad. Shantanu Deshpande engages in a thought-provoking dialogue with Ruchi Kalra, co-founder of highly successful ventures OfBusiness & Oxyzo. Shantanu and Ruchi discuss working at McKinsey, Ruchi's journey into the startup world, running a business with a partner and many other things! There's a highly interesting audience QnA as well! Gain valuable insights into Ruchi's entrepreneurial journey, the challenges she navigated, and the strategies that propelled her businesses to success. This interview offers a glimpse into the real-world experiences of scaling and managing thriving enterprises. Don't miss this insightful discussion on the nuances of startup life. Here's how the conversation unfolds : Coming Up!: 0:00:00 - 0:01:25Introduction: 0:01:26 - 0:03:20Ruchi Kalra's journey at Oxyzo: 0:03:21 - 0:05:34Building "Company first" value: 0:05:35 - 0:09:11Sharing success with Employees: 0:09:12 - 0:16:12The baggage of success and fear of failure: 0:16:13 - 0:21:14Ruchi's way of dealing with self-doubt: 0:21:15 - 0:25:00Ruchi's working dynamics with life partner: 0:25:01 - 0:31:00Most humbling moment for Ruchi Kalra at Oxyzo: 0:31:01 - 0:36:56Self-learning and finding mentors: 0:36:57 - 0:43:18Being vulnerable about problems and turning a hardship into a learning: 0:43:19 - 0:50:19Culture, communication and vision at Oxyzo: 0:50:20 - 0:55:09Building a business and achieving milestones: 0:55:10 - 1:00:35Ruchi Kalra's Words of Wisdom: 1:00:36 - 1:06:55How to shift from "Advisory" to "Execution"?: 1:06:56 - 1:11:54Advice for budding entrepreneurs: 1:11:55 - 1:16:50Difference between traditional business and startup: 1:16:51 - 1:21:27B2B v/s B2C: 1:21:28 - 1:23:43 Importance of Consultancy in businesses: 1:23:44 - 1:27:28Challenges faced by Ruchi Kalra: 1:27:29 - 1:30:44Technology integration in business: 1:30:45 - 1:36:39Prioritizing tasks on daily basis: 1:36:40 - 1:39:46Building brands without experience: 1:39:47 - 1:43:35Conflicts-Resolutions as Co-founders and Life Partners: 1:43:36 - 1:46:22Growing a Startup: 1:46:23 - 1:50:10
The Desi VC: Indian Venture Capital | Angel Investors | Startups | VC
Rohit Bansal is the Co-founder Snapdeal, one of the largest online marketplaces in India. The company has raised over $1.7B from eBay, Kalaari Capital, Nexus Venture Partners, Bessemer Venture Partners, Intel Capital, BlackRock, Temasek Holdings and SoftBank. He is also the Co-Founder of Titan Capital, which has invested in companies such as Mamaearth, Dealshare, OLA, RazorPay and OfBusiness. He an alumnus of Indian Institute of Technology, Delhi. . . . Episode Notes: Introduction (2:00) What motivated Rohit to become an entrepreneur (2:57) Why is entrepreneurship on the rise in India (10:30) How did Rohit get into investing (14:30) How did and does Rohit deal with tough moments in life (19:26) How do founders continue to stay motivated over the years (27:58) What frameworks does Rohit deploy to navigate tough situations in life (31:39) Why it's important for founders to look after themselves (36:20) Looking back at his career what is Rohit the most proud of? (41:15) What is Rohit dedicating the next 5-10 years of his life towards (45:45) What advice would Rohit give his younger self? (52:02) . . . Social Links: Follow Rohit on Twitter Follow Rohit on LinkedIn Follow The Desi VC on LinkedIn Follow Akash Bhat on Twitter Follow Akash Bhat on LinkedIn
In this episode of The Startup Operator Roundup, Gunjan and Roshan break down the week's startup news and more! If you liked this episode, let us know by hitting the like button and share with your friends and family. Please also remember to subscribe to our channel and switch on the notifications to never miss an episode! 00:00 Introduction 03:03 Narayana Murthy's comment on work culture 12:45 Jio & Airtel to launch satellite broadband 17:20 Mamaearth IPO breakdown 25:00 Rapido enters cab services 30:45 OneCard and OfBusiness revenues35:50 Fund Raises of the week36:55 Talk of the town43:00 Recommended reading list45:49 Conclusion ------------------------------------- Subscribe to our WhatsApp community for regular updates:https://www.whatsapp.com/channel/0029VaA80HPIN9ixCWykZO1C ------------------------------------- Interview with Vasant Sridhar of OfBusiness: https://youtu.be/OvRNDXn8qXw?si=2jFhnMY-0GOBSqc5Article on Zapier: https://www.howtheygrow.co/p/how-zapier-grows ------------------------------------- Connect with Us: Linkedin: https://www.linkedin.com/company/startup-operator/Twitter: https://twitter.com/OperatorStartup ------------------------------------- If you liked this episode, let us know by hitting the like button and share with your friends and family. Please also remember to subscribe to our channel and switch on the notifications to never miss an episode!
Welcome to First Principles, The Ken's fortnightly leadership podcast! I am Rohin Dharmakumar, your host.First, if you're a new listener of this podcast, I think you've clicked on the right episode. And if you're a long-time listener – thank you, by the way – then you might know that here at First Principles, we have a few favourite questions. And we try and ask these questions to most of our guests. The most interesting part of this is that every guest has a vastly different answer to the same question – their age, experience, outlook on life…even their co-founder or their family plays a significant role in how they answer our questions. Take motivation, for example. What drives founders/CEOs, even when things aren't looking so good?It could simply be untameable perseverance – like in the case of Deep Kalra, the founder of MakeMyTrip. For Ruchi Kalra of OxyCo, it was the people around her. Srikanth Iyer of Homelane, in fact, quotes from a book that changed the game for him.We highly recommend going back and listening to our full episodes, but this is a great place to start, too. We went back to some of our older episodes to make a supercut of some very specific answers from our guests to questions on motivation, perseverance, finding the right opportunity in a difficult market and fighting stress. Good stress, as one of our guests calls it.Here are our guests:We start with Deep Kalra, the founder and chairman of MakeMyTrip – a company that began when India wasn't even ready for internet businesses. Deep talks about surviving as a travel business through the pandemic, learning to stay in the game and building to last. Deep Kalra of MakeMyTrip on being “22 years young”, presenting from Excel sheets instead of Powerpoint slides, the importance of open disagreements, and the good stress of buildingNext, we have Ruchi Kalra – who has built two profitable unicorns in seven years: OfBusiness and Oxyzo. She takes us through an important maxim that drives both her businesses: finding the right opportunity in the right sector, even if it's crowded.Ruchi Kalra of Oxyzo on creating two unicorns in 7 years, spotting gigantic market opportunities, putting profits and cash flow first, and letting go of personal ambitionsKamal Sagar, the founder of Total Environment, has had one thing driving him for 27 years: good quality. Good quality that even thousands of real estate companies in the West are just not able to deliver on. The most interesting part is how he does it: Kamal builds homes the way software is built. Kamal Sagar of Total Environment on picking principles over convenience, reimagining real estate, design, authenticity and learning to say noWhen I asked how Srikanth Iyer, the founder of Homelane, fought through the first few years of absolute chaos at his startup, Srikanth said he focuses on understanding what you're bad at. He explains how he learnt and applied this First Principle in his career.Srikanth Iyer of Home Lane on embracing what you're bad at in order to do better at what you're good at, and being a wartime generalShan Kadavil of FreshToHome cracked a really tough business in a super competitive market. And then, he evolved as a CEO and a leader. He talks about scaling a 40-employee organisation to a 4000-employee organisation, encouraging his team to “be their own CEO,” obsessing over the right metrics, and much more. Shan Kadavil of FreshToHome on selling fish, building moats, encouraging bottom-up “shots on goal”, and being honest with boardsThis is First Principles— The Ken's fortnightly leadership podcast.The Ken is India's first subscriber-only business journalism platform. Check out our deeply reported long-form stories, insightful newsletters, original podcasts and much more here.
The Indian Silicon Valley Podcast recently did a podcast with Ashish Mohapatra, Co-Founder and CEO of OfBusiness, a platform aimed at making life easier for small and medium enterprises (SMEs) by facilitating new business, procurement of raw materials, and financing. Mohapatra discussed his transition from consulting to venture capital to entrepreneurship and shared his journey of building OfBusiness. He stated that the driving factor behind entrepreneurship for him was having the outcomes in his own hands and being able to put his money where his mouth is. OfBusiness follows a people-first approach, recruits mostly freshers, and follows a non-hierarchical working system. The company was also revealed to focus heavily on profitability by leveraging technology and savvy financial planning. LinkedIn Profile of Jivraj - https://www.linkedin.com/in/jivrajsinghsachar/ Instagram Page- https://www.instagram.com/isv_podcast/
Did you know that India's 70M+ SMBs contribute to a staggering 30% of the country's GDP?However, the majority of these SMBs in India still operate offline and lag behind in technology adoption. This not only hampers their efficiency but also limits their growth potential.B2B Marketplaces play a pivotal role in addressing key challenges by offering high-quality supply and integrating essential services such as Logistics, Payments, and Credit. They become a full-stack one-stop solution for SMBs, solving trust issues and providing new business opportunities for both buyers and suppliers. As a result, B2B Marketplaces have emerged as a much larger market than B2C Marketplaces.With this, we are excited to launch our new live series ‘Everything B2B' to help young startups get actionable insights from leading B2B Commerce startups on how to build businesses from scratch. To kickstart the series, we're thrilled to have Asish Mohapatra, Co-Founder & CEO of OfBusiness, a leading B2B Commerce startup specializing in industrial goods procurement and lending for SMEs. OfBusiness is valued at over $5B, making it one of India's most highly regarded startups.
In the latest episode of Matrix Moments, Sudipto Sannigrahi, and Anurag Srivastava, delve deeper into the existing B2B landscape and cover why Matrix Partners continues to be bullish on the segment and the fundamentals that make a good B2B business This episode covers: 1. Is B2B still an attractive segment to build in 2. Fundamentals of a good B2B business 3. Sustainable, defensible moats in a good B2B business 4. Pitfalls for B2B founders to be aware of in their 10 – infinity journey 5. Importance of good corporate governance Traditionally centered on distribution, B2B investments are now shifting toward core IP-led manufacturing. We consider ourselves fortunate to witness the inner workings of a diverse range of B2B businesses, spanning from well-established companies like OfBusiness, FarMart, Captain Fresh, and VEGROW to upcoming innovative product companies like ZippMat, XIMKART, and bijnis among others.
Episode #26 SME ERP Ft. Nitin Jain, Co-Founder Ofbusiness. Welcome back to MSME TALK Brand Bite. FOR SME manufacturing client tracking the orders, tracking raw material, work in progress inventory, finished inventory tracking , sales tracking, invoice issuance, receivable tracking etc can all be solved with customised SAAS ERP for them. All this can bring so much of time saving and efficiency for the business to scale up. In this episode of MSME TALK on SME ERP we will discuss with Nitin Jain how Ofbusiness is helping manufacturing SMEs which are in B2B segment in providing customised ERP through SME ASSIST. Nitin Jain is the cofounder & head of new businesses at Ofbusiness. Nitin has incubated multiple businesses in OfBusiness. He is silver medalist & graduate from IIT Delhi. Ofbusiness is a 6 bn dollar valuation Indian startup disrupting the raw material supply chain, price discovery and financing to SMEs. This is a 3rd part of 3-episode series MSME TALK Brand Bite in which we have discussed about different services of OfBusiness. In previous episodes we have discussed how SMEs can increase business orders with help of Bid Assist and how can SME procure Raw Material at their door step, at better pricing with the help of Smart Procurement. Do check out those episodes also Dear Entrepreneurs - Join MSME TALK community Dear Experts/Product/Service provider for MSMEs ,Startups share more about yourself/your products/services to bring opportunities for you : Collaboration with MSME_TALK Subscribe to MSME TALK News Letter and Alerts Please leave 5 star rating and reviews on apple podcast or Spot Happy to share MSME TALK Podcast enters Peak Ranking Chart of 15+ plus Countries in the Apple Podcast Country level Entrepreneurship Category. It's encouraging to see MSME TALK podcast making waves not only in India, but globally. If you are an expert or provide product or services to small business , msmes and startups , reach out to us connect@msmetalk.com to discuss showcase opportunity on MSME TALK podcast & social media.Click to Subscribe to MSME TALK News Letter and Alerts Spotify https://link.chtbl.com/MSME_TALK_ Dear Entrepreneurs, join MSME TALK Community on WhatsApp.Dear Experts/Product/Service provider for MSMEs, Startups please share more about yourself/your products/services to bring opportunities for you. Click to Follow us on All Social Media , Program, Podcast etc links at one place WhatsApp : Send hi - https://wa.me/918097665085 LinkedIn : https://www.linkedin.com/company/msmetalk Facebook : https://www.facebook.com/msmetalk Instagram : https://www.instagram.com/msmetalk Twitter : https://twitter.com/msmetalk Website : www.msmetalk.com Contact us : connect@msmetalk.comYour feedback, suggestions, reviews and likes motivates us. Plea...
A 3-part podcast series, in partnership with OfBusiness, India's youngest profitable unicorn! The Third (and final) part of this series covers: Summary of the journey, and mistakes made by the founders. The importance of customer feedback for startups. Some of the key challenges that startups usually face? How did technology/platform really evolve at OfBusiness? Advice for the B2B founders/startups building a marketplace or a 2-sided platform? How should founders secure funding from Seed to Series A or subsequent rounds? On funding winter and IPO?
A 3-part podcast series, in partnership with OfBusiness, India's youngest profitable unicorn! This Second part of this series covers: Advice to the B2B Founders? Create and track 2-3 relevant KPIs for your startup. How did OfBusiness achieve Product/Market Fit (PMF)? Their strategy for customer acquisition and growth. Their Go-to-Market (GTM) strategy to acquire and retain customers. How to hire best talent and use ESOPs to create a performance-driven culture?
A 3-part podcast series, in partnership with OfBusiness, India's youngest profitable unicorn! Background: OfBusiness is a B2B procurement and fintech platform, which is the youngest profitable Indian unicorn that has crossed over $2 bn in revenue in FY2022-23. The 7-year-old startup which turned unicorn in July-2021 has leapfrogged with a $6+ Bn valuation, operating across 20+ countries. It has impressive backing from top global investors like TigerGlobal, Norwest, Softbank, etc. Both co-founders, Nitin Jain and Vasant Sridhar will share valuable insights based on their own journey of building OfBusiness into the profitable unicorn that it is today. The first part of this series covers: How did the idea of OfBusiness evolve? Key pain areas/challenges that founders observed in the procurement sector? Composition of their founding team and complementary skill sets? Some of the challenges founders faced in the early stages, and the way they overcame them? Advice for the founders/B2B startups that are at the initial stages? Key milestones in the early growth of OfBusiness, and how did they navigate their first fundraising?
The Desi VC: Indian Venture Capital | Angel Investors | Startups | VC
Nitin Jain is a well-known name in the Indian startup ecosystem as the co-founder and Chief Business Officer of OfBusiness, a tech-enabled platform that provides raw material procurement and credit solutions to small and medium enterprises (SMEs) in India. With a strong background in structured solutions trading, Nitin has played a key role in OfBusiness' success, helping the company raise over $875M from top investors like Tiger Global, SoftBank Vision Fund, and Matrix Partners, among others. Today, OfBusiness is valued at around $5B and has become a leading player in the Indian SME ecosystem. Nitin Jain is an alumnus of the prestigious Indian Institute of Technology, Delhi, and has had a successful career prior to his entrepreneurial journey. Episode Notes: Nitin Jain discusses his journey into entrepreneurship (2:10) Discovering Co-Founders and Creating the OfBusiness Idea (3:55) Nitin Jain shares his perspective on what's more critical: the team or the idea (6:30) The Early Days of OfBusiness: A Look Back at the "Aha Moment" (9:15) Coping with the Struggles and Insecurities of Being a Founder (12:30) Understanding the Composition of Winning Founding Teams (16:30) Nitin Jain's Unique Leadership Style and Approach (23:10) Fostering a People-First Culture at OfBusiness (27:10) Developing a Strong Company Culture as Companies Grow (29:18) How to Maximize the Benefits of Your Investors (32:22) Overcoming the Toughest Days as a Founder (39:20) Nitin Jain's Biggest Lesson as an Entrepreneur (41:57) Advice to His Younger Self: What Nitin Jain Would Have Done Differently (46:03) . . . Social Links: OfBusiness on Twitter: https://twitter.com/ofbusiness_com Abhishek Goyal on Twitter: https://twitter.com/njain351 Podcast on Twitter: https://twitter.com/thedesi_vc Akash Bhat on Twitter: https://twitter.com/bhatvakash Podcast on Instagram: https://instagram.com/thedesivc Akash Bhat on Instagram: https://instagram.com/bhatvakash
Episode #25 Raw Material Assist Ft. Nitin Jain, Co-Founder Ofbusiness. Welcome back to MSME TALK with Brand Bite. MSMEs in India faces various challenges related to procurement of raw material. Challenges could range from limited supplier options, limited bargaining power, lack of finance, transportation & logistics, quality check and more. In this episode of MSME TALK on Raw Material Assist we have discussed how Ofbusiness is helping SMEs in solving various challenges related raw material through Smart Procurement with Nitin Jain. Nitin Jain is the cofounder & head of new businesses at Ofbusiness. Nitin has incubated multiple businesses in OfBusiness including the recent agri vertical. Nitin is silver medalist & graduate from IIT Delhi. Ofbusiness is 6 bn dollar valuation Indian startup disrupting the raw material supply chain, price discovery and financing to SMEs. This is a 2nd part of 3-episode series in which we will know about different services of OfBusiness with Nitin. In previous episode we have discussed how SMEs can increase business orders with help of Bid Assist. By the way did we tell you about this awesome intensive impactful program which we run for Entrepreneurs & professionals to increase performance & manage stress & anxiety. If you haven't checked, here is the link: https://msmetalk.com/say-bye-bye-to-stress-anxiety/ Dear Listeners please send your questions & suggestions on the topics / experts you want to listen on connect@msmetalk.com Experts & Start-ups who want to get featured on MSME TALK please reach out at connect@msmetalk.com Your feedback, suggestions, reviews and likes motivates us. Please leave your rating and reviews on apple podcast or Spo Happy to share MSME TALK Podcast enters Peak Ranking Chart of 15+ plus Countries in the Apple Podcast Country level Entrepreneurship Category. It's encouraging to see MSME TALK podcast making waves not only in India, but globally. If you are an expert or provide product or services to small business , msmes and startups , reach out to us connect@msmetalk.com to discuss showcase opportunity on MSME TALK podcast & social media.Click to Subscribe to MSME TALK News Letter and Alerts Spotify https://link.chtbl.com/MSME_TALK_ Dear Entrepreneurs, join MSME TALK Community on WhatsApp.Dear Experts/Product/Service provider for MSMEs, Startups please share more about yourself/your products/services to bring opportunities for you. Click to Follow us on All Social Media , Program, Podcast etc links at one place WhatsApp : Send hi - https://wa.me/918097665085 LinkedIn : https://www.linkedin.com/company/msmetalk Facebook : https://www.facebook.com/msmetalk Instagram : https://www.instagram.com/msmetalk Twitter : https://twitter.com/msmetalk Website : www.msmetalk.com Contact us : connect@msmetalk.comYour feedback, suggestions, reviews and likes motivates us. Plea...
Episode #24 BID Assist Ft. Nitin Jain, Co-Founder Ofbusiness. Welcome back to MSME TALK with Brand Bite. Small businesses in India face numerous challenges when it comes to finding information on tenders and navigating the process of filing tenders. Tendering can be a complex and time-consuming process, and small businesses may lack the necessary resources and expertise to successfully participate in tenders. Additionally, small businesses may struggle to find relevant information on tenders, as the tendering process in India can be fragmented and decentralized, with tenders being advertised across a variety of platforms and channels. These challenges can limit the ability of small businesses to compete in the marketplace and can prevent them from accessing important government contracts and opportunities for growth. In this Episode Micro as well Small Medium Enterprises will get to know how Bid Assist, one of the platforms of Ofbusiness can help in information on tender notices, tender documents, eligibility criterias, bidding strategy & process all this in a way which saves lot of time & energy of businesses. Nitin Jain is the cofounder & head of new businesses at Ofbusiness. Nitin has incubated multiple businesses at OfBusiness including the recent agri vertical. Nitin is silver medalist & graduate from IIT Delhi. Prior to OfBusiness he has been an investment banker in London. Ofbusiness is 6 bn dollar valuation Indian startup disrupting the raw material supply chain and price discovery and financing to SMEs. Ofbusiness is on a mission to change the SME landscape in India & perhaps globally also. This is a 1st part of 3-episode series in which we will know about different services of OfBusiness. Dear Listeners please send your questions & suggestions on the topics / experts you want to listen on Happy to share MSME TALK Podcast enters Peak Ranking Chart of 15+ plus Countries in the Apple Podcast Country level Entrepreneurship Category. It's encouraging to see MSME TALK podcast making waves not only in India, but globally. If you are an expert or provide product or services to small business , msmes and startups , reach out to us connect@msmetalk.com to discuss showcase opportunity on MSME TALK podcast & social media.Click to Subscribe to MSME TALK News Letter and Alerts Spotify https://link.chtbl.com/MSME_TALK_ Dear Entrepreneurs, join MSME TALK Community on WhatsApp.Dear Experts/Product/Service provider for MSMEs, Startups please share more about yourself/your products/services to bring opportunities for you. Click to Follow us on All Social Media , Program, Podcast etc links at one place WhatsApp : Send hi - https://wa.me/918097665085 LinkedIn : https://www.linkedin.com/company/msmetalk Facebook : https://www.facebook.com/msmetalk Instagram : https://www.instagram.com/msmetalk Twitter : https://twitter.com/msmetalk Website : www.msmetalk.com Contact us : connect@msmetalk.comYour feedback, suggestions, reviews and likes motivates us. Plea...
"A lot of raw materials today are untouched across all the value chains and functionality that we spoke about. Choose out a new raw material, choose out a new value chain, or choose out financing to learn the market structure a lot better," said Asish Mohapatra, Co-founder and CEO, OfBusiness, as one of the four B2B verticals founders should invest in. Watch him in conversation with Sudipto Sannigrahi, Principal, Matrix Partners India.
The Desi VC: Indian Venture Capital | Angel Investors | Startups | VC
Bipin Shah is the Partner at Titan Capital, an early-stage sector agnostic micro VC fund based in India. The fund has an incredible portfolio of over 250 startups in India and the US across consumer internet, D2C, SaaS, AI, Web3, and other sectors, including investments in Ola, UrbanCompany, Mamaearth, Oziva, Dealshare, Razorpay, Ofbusiness, Yellow Messenger, Beardo, and Giva, among many others.He was a founding team member of Lead Angels Network, a seed-stage investment platform, before joining Titan Capital in 2015. He graduated from IIT Bombay in 2013, where he was a member of the E-Cell team for five years and led it in his final year. Episode Notes:1. Bipin spoke about his "gardening approach" and how it is helping entrepreneurs2. Bipin discussed Titan's investment growth and reaching unicorn status3. How Titan's 40% of portfolios raised Series A in less than two years of investment4. How did Bipin begin his Titan journey with Kunal and Rohit?5. Titan Capital Fundamentals: 3 Key Ingredients for Investments6. Early investment experience and developing the investment philosophy for Titan 7. Short stories on investments in companies such as Beardo, Fynd, Superdaily, Mamaearth, Credgenics & others8. Bipin's Titan journey learnings and methods for assisting founders in improving their unit economics9. The most important piece of advice from Bipin on investing in startups10. Insights into other sectors in which Titan investsSocial Links: Titan Capital on Twitter: https://twitter.com/TitanCapitalVCBipin Shah on Twitter: https://twitter.com/bipin_28Podcast on Twitter: https://twitter.com/thedesi_vcAkash Bhat on Twitter: https://twitter.com/bhatvakashPodcast on Instagram: https://instagram.com/thedesivcAkash Bhat on Instagram: https://instagram.com/bhatvakash
In 2015 Ruchi Kalra was a partner with McKinsey in their Financial Services practices. In 2016 she, along with four co-founders, started OfBusiness, a business that saw the world in raw materials like plastic, steel, almonds where everyone else saw products like bottles, bridges and cookies. By using tech to disintermediate the various buyers and sellers in the raw material supply chain, OfBusiness wanted to make purchases cheaper and faster. In 2017 Kalra, again with her four co-founders, one of who also happens to be her husband and former colleague, started another business, Oxyzo. What would it do? It would provide credit to businesses that wanted to buy raw materials. Cut to 2023. OfBusiness and Oxyzo are both unicorns. They're also growing at an incredibly fast rate. Kalra is the CEO of Oxyzo, while also doubling up as the CFO of OfBusiness. Last year OfBusiness drove around Rs.7,500 crore of sales, says Kalra. Which is slated to jump to over Rs.20,000 crore this year. In the same period Oxyzo's balance sheet size as a lender will swell from Rs.3,500 crore to Rs.5,000 crore. For these numbers, the two sibling unicorns employ just about 1000 professionals between them. “If I were to do a rough employee-to-valuation calculation, that would place you in, I'm guessing, one of the highest...”Kalra cuts me off. “I think more than the employee-to-valuation, it's more an employee-to-profit calculation.”That's because the B2B siblings also both profitable. Together they are slated to grow their profit after tax (a phrase that's quite rare in the unicorn space) 150% over the last year, to Rs500 crore. Kalra starting at McKinsey after an engineering degree from IIT Delhi and an MBA from ISB is a pattern easy to understand. What's not so easy is how and why she decided to quit after making partner, and start a business in a very different and “uncool” sector.In a candid and reflective conversation, Kalra talks about career choices, business building, market sizing, operational discipline, and her own transformation from an executive to a founder, and finally, leader. It's a masterclass on how starting up later in life often brings perspectives and experiences that are hard for others to replicate.If you'd rather (or perhaps also) read than listen, we have also published the full transcript for this interview on our website. You can click here and read through it. We normally record First Principles episodes inside a professional studio, but this episode was recorded inside one of the meeting rooms at Oxyzo's buzzing Gurugram offices in December. Which is why, in spite of our best efforts, the audio will sound a bit different. A big shout out to my colleague Rahul Choudhary who diligently helps me with the transcripts each fortnight. Lastly, if you have any questions, thoughts, suggestions, or tips, please email them to podcasts@the-ken.com. We might not be able to reply to all of them but we do read every single one of them.
Order my first book here: https://amzn.eu/d/eCfijRuIn this latest episode of Figuring Out Podcast we are in conversation with Asish Mohapatra Co-Founder and CEO of OFBusiness and we have discussed:-How to make a startup profitable from day 1?-Top 4 most profitable business in India-What are the right ways and tools to build a business in India?-7 steps to become successfulAsish Mohapatra is an Indian entrepreneur, who is the Co-Founder of two unicorns startups in India. Asish has a B. Tech in Mechanical Engineering from the Indian Institute of Technology, Kharagpur, and an MBA in Finance and Marketing from the Indian School of Business, Hyderabad. Asish Mohapatra was a venture capitalist with Matrix Partners India for five years before he turned entrepreneur by co-founding OfBusiness in 2015.OfBusiness turned unicorn with a $160 mn funding round that came on July 31, 2021, thereby becoming the 18th Indian startup to turn unicorn in 2021. Oxyzo, the lending arm, and a subsidiary of OfBusiness, has also joined the unicorn club in March 2022, after it successfully raised $200 mn in funding, in what has been hailed as India's largest Series A round.Watch this episode till the end to know how Asish built OfBusiness from ground zero and his thoughts on profitability vs growth and much more.Asish Mohapatra's Social Media Handles ⤵︎Instagram @asishmohaps https://www.instagram.com/asishmohaps/Twitter @AsishMohapatra1https://twitter.com/AsishMohapatra1• • •
The Desi VC: Indian Venture Capital | Angel Investors | Startups | VC
Gautam Patel is the Founder and Managing Partner of Z3Partners, a growth-stage fund based in Mumbai. Prior to founding Z3Partners, Gautam has been the co-founder of Zodius Technology Fund and Zodius Technology Opportunities Fund, successful early-growth stage Private Equity funds with a track record of investing in industry leaders such as BigBasket, Pepperfry, OfBusiness, Zivame, Medgenome and Antuit. Prior to Zodius, Gautam was the Managing Director and Head of India for Battery Ventures, a Bay-Area based venture capital and PE-fund. Prior to that he was part of the leadership team at iGATE. Gautam started his career in Investment Banking in the US with Lazard Freres. He holds a Bachelor's degree in Computer Science from the University of Texas at Austin.In this episode, we discuss Gautam's journey as an investor and everything he's learned from investing in India and India-focused businesses. Episode notes:1. Lessons learned from investing in India over the last two years (3:30)2. How are investors currently viewing the market? (7:55)3. Conviction building when a fund only invests in 8 startups per year (10:18)4. Why did Guatam transition from operating to venture capital? (15:10)5. Reflecting on Gautam's first investment and its significance in the context of India's growth story (17:40)6. Fundamentals of business management (21:10)7. The privileges and perils of being a venture investor (28:50)8. Key lessons Gautam has learned about company building from his experience operating and investing in the growth stage (41:00)9. How do you turn a business around? (48:01)10. When should investors assist founders in running their businesses? (56:00)11. Collaborating with co-investors (1:06:06)12. To what extent does Gautam's operational experience play to his strengths as an investor? (1:12:11)13. Things about Indian VC that still surprises Gautam (1:16:56). . . Social links:Z3Partners on Twitter: https://twitter.com/z3partnersGautam Patel on Twitter: https://twitter.com/gautamapatelPodcast on Twitter: https://twitter.com/thedesi_vcAkash Bhat on Twitter: https://twitter.com/bhatvakashPodcast on Instagram: https://instagram.com/thedesivcAkash Bhat on Instagram: https://instagram.com/bhatvakash
In this Episode, I (@Jivraj Singh Sachar) speak with Ruchi Kalra, CEO of Oxyzo and Co-Founder of OfBusiness. Oxyzo is the FinTech lending business built on top of OfBusiness. It is now a unicorn, raising a large Series A and having been self-funded by OfBusiness Cash-Flow for the longest time. Ruchi was a partner at McKinsey before starting OfBusiness. She comes from a core financial services background and was tailor made to have built a business like Oxyzo. I sit with her and chat about how they got here. We cover a bunch of aspects around the strong fundamentals at Oxyzo, the core insights, the culture and the seamless process that contributes to the efficient operational engine required to build a lending business. I thoroughly enjoyed this deep dive and I am sure all of you listening will have a great time. But before we get started, here is quick word 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 120th Episode on the Indian Silicon Valley Podcast - Building the Most Efficient Lending Business! 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.
In today's episode of The BarberShop with Shantanu, Shantanu Deshpande (CEO and Founder, Bombay Shaving Company) talks with Asish Mohapatra, CEO and Co-founder of OfBusiness. He has built in 6 years TWO PROFITABLE UNICORNS! He breaks down his journey, what inspired him to create OfBusiness, his leadership and management style and his thoughts on the many themes of modern-day entrepreneurship.
In today's episode of The BarberShop with Shantanu, Shantanu Deshpande (CEO and Founder, Bombay Shaving Company) talks with Asish Mohapatra, CEO and Co-founder of OfBusiness. He has built in 6 years TWO PROFITABLE UNICORNS! He breaks down his journey, what inspired him to create OfBusiness, his leadership and management style and his thoughts on the many themes of modern-day entrepreneurship.
Episode #17 Purchase Financing Ft. Pratyush Nalla, Business Head Oxyzo Financial Services. Welcome back to MSME TALK with Industry Experts. Raw Material contributes to the 60-70% of the total cost of the manufacturing SMEs'. Due to credit risk majority of MSMEs doesn't have formal financing channel for the raw material purchase due which these MSMEs resorts to local distributors and financiers, which is at a much higher cost. Its critical for these MSMEs to have stable purchase financing option lines to fund the purchase of raw material. Any delay in financing for the purchase of raw material, creates delay in the entire business process & decreases the business growth & elongates the working capital cycle. Oxyzo has built flexible raw material purchase financing products aligned to SMEs' cash flow cycles for traditional sectors like manufacturing and infrastructure both secured and unsecured. In today's episode we understand about the Purchase financing product, traditional vs current industry, different types of avenues available for SMEs & also about Oxyzo purchase financing product for SMEs from Pratyush Nalla. Pratyush Nalla is the Business Head at Oxyzo Financal Services. Prior to that he has significantly contributed in the laying down the foundation of operations and commerce functions at OfBusiness as the founding member. Praytush is IIT Mumbai graduate. OXYZO: Oxyzo Financial Services provides working capital financing for buying raw material for SMEs , mid-corporates, as well as the new age economy. Oxyzo turned a unicorn after raising $200 million in a Series A fundraise in March 2022. Oxyzo is currently serving 4000+ SMEs across India, disbursing INR 4000+ crores per annum, and has INR 2500+ crores as AUM with GNPA (gross non-performing asset ratio) at 1.2%. (April 2022) If you are an entrepreneur and have questions related to Capital, Compliance, legal, Debt, Equity, Marketing, Business Growth, Team, Technology, Compliance etc. from Experts or any other topic on which you want better understanding, or any particular profile of Expert you want to hear, do let us know. In case If you are an Industry Expert with MSME as your target audience, please let us know more about you. Your feedback, suggestions, reviews and likes motivates us. Please leave your rating and reviews on Apple podcast or Spotify https://link.chtbl.com/MSME_TALK_ Check our website for more podcast & offers : www.msmetalk.com Follow us on:https://www.linkedin.com/company/msmetalk https://www.facebook.com/msmetalk https://www.instagram.com/msmetalk https://twitter.com/msmetalk Get WhatsApp alert: Send hi - https://wa.me/918097665085
Ankush Jain (Sales Head @ OfBusiness) & Vasant Sridhar (Co-founder & CSO @ OfBusiness) talk to Rajinder about the construct of their management trainee programme and the leadership factory they've built out at OfBusiness. Tune in to know more.
In this video, we take a look at India's journey to 100 unicorns, from it's first ever startup unicorn in 2011, in the form of inMobi, to neobanking startup Open becoming 100th unicorn in 2022. The term 'unicorn' was created by American VC and entrepreneur Aileen Lee in 2013, she took all of the U.S.-based software companies that were started in or before 2003 and had achieved a valuation of $1 billion through public or private market investors, and put them in a club: the Unicorn Club. In India's case, it's unicorn journey started in 2011, when InMobi, a company that was founded in 2007, became a unicorn. Following this, Flipkart became a unicorn in 2012, Mu Sigma in 2014 and then Ola in 2014. Snapdeal also became a unicorn in 2014, but they have since exited from this club due to their valuation falling below $1 Billion. Companies like Quikr, Hike and Shopclues also fall in this category. Then we have companies who have been since acquired and also bags the question that should they be counted as unicorn today? Flipkart is an example here, which was acquired by Walmart. Then you have startups like Billdesk, which was bought by PayU, PhonePe getting acquired by Flipkart and BigBasket, which became a unicorn in 2019 and were acquired by Tata Digital in 2021. All this while, India's unicorn growth was pretty slow but steady till 2017, when Jio launched its 4G services, and this brought a mobile internet revolution in the country. From 1 unicorn in 2017, India saw 10 unicorns in 2018: B2C unicorns included Swiggy, OYO, BYJU'S, Policybazaar, Paytm Mall, and Phonepe, and B2B unicorns included Rivigo, Freshworks, Billdesk, and Udaan, which was the fastest company to become a unicorn at the time - it took them just 26 months. Then, in 2019, things slowed down a bit, with just 7 unicorns that year: in the B2C category were Ola Electric, Lenskart, Dream11, Delhivery, and BigBasket, and in the B2B category were Incertis and Druva. In 2020, COVID increased people's reliance upon the internet, and host of Indian e-commerce startups like Firstcry, Cars24, and Nykaa became unicorns. Facilitating these online payments resulted in fintech companies like Razorpay and Pine Labs also achieving unicorn status. B2C startups like Verse Innovation (Dailyhunt), ed-tech startup Unacademy, fintech startup Zerodha, and SaaS startup like Zenoti and Postman also became unicorn in the same year. 2020, was followed by an even bigger year in terms of unicorns in 2021, when 44 Indian companies became unicorns. This year saw 11 E-commerce startups (Spinny, OfBusiness, Moglix, Mensa, Meesho, Mamaearth, Licious, Infra.Market, Good Glam Group, GlobalBees, Droom), 11 Fintech startups (Zeta, Slice, Mobikwik, Groww, Digit, CRED, Coinswitch Kuber, CoinDCX, Chargebee, BharatPe and Acko) becoming unicorns. Then we have 5 enterprisetech and SaaS startups (Mindtickle, MapmyIndia, Gupshup, BrowserStack, Apna), 4 health startups (Cure.fit, Innovaccer, Pharmeasy, Pristyn Care), 4 consumer service startups (Blinkit, CarDekho, Rebel Foods, Urban Company), and 3 edtech startups (Eruditus, Vedantu and Upgrad) also becoming unicorns. Other 2021 unicorn categories include Media and Entertainment startups MPL and sharechat, Logistics startup Blackbuck, Traveltech startup Easemytrip , Real Estate startup Nobroker, and Manufacturing startup Zetwork. Talking about where where these startups coming from, they were all from tier 1 cities. Bangalore is leading this list with 39 unicorns, NCR region with 32 unicorns, mumbai with 16, Pune with 6, Chennai with 5 and Hyderabad with 2. Now we are halfway in 2022 and we have already produced and now it seems that by 2025, India will have upwards of 250 unicorns. So that will be exciting to watch and we will continue to track all of this in our upcoming episodes.
Welcome to #66 episode of The Startup Operator Roundup. Today we have Roshan Cariappa and Gunjan Saha discussing - 1. Swiggy invests in Rapido 2. Ola enters hyperlocal delivery space 3. OfBusiness aiming for largest tech IPO in India 4. Nykaa announced investments in 3 companies and more! Click here to get regular updates on WhatsApp: https://wa.me/message/ZUZQQGKCZTADL1 Hit the like button if enjoyed this roundup, and do not forget to share among your operator friends! Listen to our interviews and conversations with investors, operators, and founders on your favourite podcast platforms. #startups #unicorns #technology #roundup #podcast #news --- Send in a voice message: https://anchor.fm/startup-operator/message
Brought to you by the Founders Unfiltered podcast by A Junior VC - Unscripted conversations with Indian founders about their story and the process of building a company. Hosted by Aviral and Mazin. Join us as we talk to Nitin and Vasant, two of the co-founder of OfBusiness about their story. Asish's desire to leave a crater of impact in the world, coupled with his “hands-on” nature of getting into the mud made him realise that his calling was in entrepreneurship. Even though he and his cofounders - Ruchi Kalra, Bhuvan Gupta - were in their late thirties, they decided to take the plunge. Convincing Ruchi to join OfBusiness was probably harder for Asish. Ruchi was not only Asish's wife but was also a partner at the consulting firm they worked together. Bhuvan, back then head of Tech at Snapdeal, was a friend of Asish's, and both of them were discussing starting up for quite some time. Asish was discussing the problem of finding a tech co-founder with Bhuvan, and he joined as a co-founder. Nitin Jain, an IIT Delhi Silver medallist and investment banker, and Vasant Sridhar joined the journey a month into the journey. They brought in skill sets that were complementary, but necessary for the success of the venture. You need to stand on the shoulders of a giant to look further. Asish did that just, by assembling a great team with complementary skill-sets. In 2015, OfBusiness v1.0 was born. About OfBusiness: While commerce contributes 55% of its total net revenue, lending and SaaS have a pie of 43% and 2%, respectively. In terms of profits, lending is its biggest contributor followed by commerce. With these two pillars, Ofbusiness serves over 9,000 businesses. But perhaps more importantly it laid the foundation for unique digital services that allows SMEs to tap the global market. Bidassist gives their customers access to government and private tenders across the globe from North America to Russia to the Philippines. Over 6 lakhs business had used bidassist for government and global tenders. OfBusiness has issued loans of 10,000 Cr+, supports more than 5,000 clients and 2,000 suppliers across their suite of products. They have built a profitable business with a large and engaged user base that they are uniquely positioned to serve better than any other bank, fintech or e-commerce platform can stand alone. For more visit - https://ajuniorvc.com/podcast/
In this episode, I speak with Nitin Jain, Co-founder & CEO at O'AgriFarm (a unit of OfBusiness) OfBusiness is an India-based B2B platform focused on industrial supply chain and procurement financing services for SMEs. Jain and I talk about: 1. His journey to founding of Ofbusiness? 2. What problems his team is solving 3. What is the business model of Ofbusiness and O'AgriFarm. 4. Ofbusiness made from the 1st year of its operation, how was that possible 5. Fundraising. what was the challenges 6. What is the next step in terms of the growth strategy map.
In this Episode, I (@Jivraj Singh Sachar) speak with Vikram Vaidyanathan, Managing Director - Matrix Partners India. Vikram is one of the finest venture investors in the Indian Ecosystem, leading the institutional practice at Matrix along with his partners. Matrix India itself has contributed largely to the development and maturity of the ecosystem by backing some of the most incredible companies of our time including the likes of Ola, Razorpay, OfBusiness, DealShare and many more! Vikram's track record precedes himself, as he has personally led investments in Jupiter, Five Star, OfBusiness, mSwipe, Razorpay, Dailyhunt and multiple other phenomenal companies. Through this phenomenal conversation we discuss: 1. (02:31) : Given the current ecosystem, how are VCs keeping up with the enhanced velocity of decision making in Venture? 2. (06:19) : Decoding the fundamental relationship building process between Founders & Investors in today's ecosystem 3. (09:15) : Understanding Vikram's journey to becoming a Venture Investor & his style of investing in early stage companies 4. (12:46) : What are some most common traits of Outlier Founders? 5. (16:30) : What do the wins & losses in Venture mean & teach? 6. (21:36) : Decoding the Culture of Matrix Partners India & Understanding the building blocks of Institutional Venture Investing 7. (27:07) : What does it mean to uphold an Entrepreneurial & Execution First culture in Venture? 8. (29:55) : What is the relevance of Boards & What makes a good Board Member? 9. (33:46) : Building the most optimal relationships with Founders 10. (37:05) : Navigating the challenge of Context Switching as a Venture Investor 11. (39:02) : Staying ahead of the Curve by not knowing & listening more 12. (40:35) : How does Vikram prioritise and manage time? 13. (42:58) : Final Learnings from Vikram for early stage founders 14. (45:30) : Conclusion Hope you liked the 85th Episode on the Indian Silicon Valley Podcast - The Art of Venture Investing! 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 I am Jivraj, the host and if you have anything you would like to share with me, feel free to reach out via: LinkedIn: https://www.linkedin.com/in/jivrajsinghsachar/ Twitter: https://twitter.com/jivraj_sachar Or, you can directly reach out to me via WhatsApp: https://bit.ly/Indian_Silicon_Valley_Podcast 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.
Welcome to #52 episode of The Startup Operator Roundup. Today we have Roshan Cariappa and Gunjan Saha discussing - 1. Was 2021 the best year for Indian Startups yet? 2. OfBusiness plans to acquire 20 companies in 2022 3. Byju's $48Bn SPAC valuation 4. Acquisitions and fundings and more! Click here to get regular updates on WhatsApp: https://wa.me/message/ZUZQQGKCZTADL1 Hit the like button if enjoyed this roundup, and do not forget to share among your operator friends! Listen to our interviews and conversations with investors, operators, and founders on your favourite podcast platforms. #startups #unicorns #technology #roundup #podcast #news --- Send in a voice message: https://anchor.fm/startup-operator/message
This week in Indian startup news, Blinkit temporarily shuts down 18 locations, Urban Company sues women partners for protesting, Byju's in talks to go public via SPAC, Snapdeal files for IPO to raise Rs 1,250 crore and Cult.fit acquires four fitness equipment brands. In funding news, Cars24 raises $400 million, Razorpay raises $375 million, OfBusiness raises $325 million, Bizongo raises $110 million and Zepto raises $100 million. Blinkit temporarily shuts down 18 locations: Last week, Grofers rebranded themselves as Blinkit to reflect their pivot to 10-minute grocery delivery. With the pivot to Blinkit, the startup has announced that they are temporarily shutting down operations in 18 cities where they are unable to serve their customers in 10 minutes. Urban Company sues women partners for protesting: Urban Company, which offers home services to their customers, has filed a lawsuit against their own women gig workers for protesting against their ‘minimum guarantee plan'. After failing to remove them from the premises, the company filed a lawsuit against the protestors calling their actions ‘illegal' and ‘unlawful'. Byju's in talks to go public via SPAC: According to a Bloomberg report, India's most valuable startup Byju's is in talks with Churchill Capital to go public via SPAC or a blank cheque company in the US at a valuation of over $45 billion. If the deal goes through, it will be the biggest SPAC deal - overtaking Singapore's super app Grab. Byju's is also considering listing in India after they've listed in the US. Snapdeal files for IPO to raise Rs 1,250 crore: Snapdeal, an e-commerce platform now focused on tier 2 and beyond users, has filed for an IPO in a bid to raise ₹1,250 crore. Snapdeal was once a unicorn before it crashed and burned in a bid to out-compete Flipkart and Amazon - both of which are rich in cash. While Snapdeal on the other hand has failed to raise funds from investors since 2019. So going public might have been their only option to raise some cash. Cult.fit acquires four fitness equipment brands: Health and fitness startup Cult.fit has acquired three at-home fitness equipment brands - RPM Fitness, Fitkit and Onefitplus. And also an outdoor fitness brand called Urban Terrain - which makes bicycles. These acquisitions will enable Cult.fit to strengthen their at-home fitness product offerings and also create an umbrella brand for D2C fitness brands - riding the at-home fitness trend kicked by the pandemic and the growth of D2C brands in India. Cars24 raises $400 million: Cars24, an online platform for buying and selling used cars, has raised $400 million in a round led by Alpha Wave Global at a $3.3 billion valuation – raising their valuation almost 2X in just three months from $1.84 billion. Razorpay raises $375 million: Payment gateway provider for SMEs and large enterprises Razorpay has raised $375 million in a round led by Lone Pine Capital, Alkeon Capital and TCV at $7.5 billion valuation – making them India's most valuable fintech startup. OfBusiness raises $325 million: B2B commerce platform OfBusiness, which helps businesses in procuring raw materials like steel, cement, chemicals and leather, has raised $325 million in a round led by Alpha Wave Global, Tiger Global Management and SoftBank's Vision Fund 2 at a $5 billion valuation. Bizongo raises $110 million: B2B packaging solutions provider Bizongo has raised $110 million in a round led by Tiger Global Management at a $600 million valuation to help digitize their entire vendor ecosystem. Zepto raises $100 million: 10-minute grocery delivery startup by two 19-year-old Stanford dropouts – Zepto has raised $100 million in a round led by Y Combinator's Continuity Fund at a $570 million valuation.
About a week ago, an Indian startup founder quipped on Twitter that the definition of a ‘Unicorn' as used in the venture capital industry should now change to $1 billion of funding raised. The term currently refers to a startup that reaches a valuation of $1 billion. He was commenting on the flurry of unicorns that have been created globally. The term was originally coined by US venture capitalist Aileen Lee in 2013 when there were just 39 startups globally that fit the definition, which has not changed since then. Achieving the milestone was once considered elusive. But India's example shows the term unicorn no longer holds the same weight as before. In a blockbuster year for startup funding, India saw creation of 42 unicorns, a three times jump from 11 new unicorns in 2020 and nine in the previous year. Starting with Digit Insurance on January 15 to Pristyn Care on December 8, the unicorns came from a range of sectors. The 42 companies are collectively valued at more than $90 billion. The year also saw the fastest and the slowest unicorns. Mensa Brands, which acquires Direct-to-Consumer fashion, home and personal care labels, became a unicorn in just six months. While in March, Chennai-based NBFC Five Star Business Finance achieved the status after 37 years in existence. Fintech was arguably the biggest contributor to the unicorn universe this year. CRED, Groww, Zeta, BharatPe, Mobikwik, Upstox, Slice were the seven fintech additions. While edtech industry leader Byju's became a decacorn this year with $18 billion valuation, three of its rivals joined the unicorn club this year -- Eruditus, upGrad and Vedantu. Indian edtech startups have gained greater investor confidence after China mandated all online education companies to register as non-profits. Despite regulatory uncertainty, India also saw two crypto unicorns in CoinDCX and CoinSwitch Kuber. The B2B commerce space too saw a fundraising frenzy with Infra. Market, Moglix, ofBusiness and Zetwerk turning unicorns. The funding activity this year was led by Sequoia Capital, Tiger Global, SoftBank Group and Accel. As it rained unicorns, it has also been the year of startup IPOs. The listing of Zomato, Nykaa, PolicyBazaar and Paytm were a big boost to the startup ecosystem as it showed that India can give an exit path to investors. China's crackdown on tech companies has helped India bolster its attractiveness as an emerging market alternative. Early-stage venture capital fund 3one4 Capital predicts that India will be home to more than 150 unicorns by 2025. The unprecedented funding boom is expected to spill over to the next year as well, helped by India's rapid adoption of technology and innovative offerings from startups. With another nine days left in the year, it is likely that we may see a few more surprise announcements. Watch video
Hi and welcome back to part 2 of our Delhi edition Founder Moments episode. In todays episode we take stock of startup environment and the growing and burgeoning founder eco-system in Delhi NCR. we have with us today, Chirag Taneja, the Co-founder of GoKwik, Anindya Dutta, the Co-founder of Stanza Living, Amit Lakhotia, Founder of Park+, and Asish Mohapatra, Co-founder of Ofbusiness, along with Avnish Bajaj, Founder and Managing Director at Matrix Partners India. Tune - in.
Todays discussion is heavily centered around the prevailing start-up environment and we're here to essentially take stock of the current scenario, from the overheated funding situation, to exits, MNA's, remote hybrid working models, the COVID impact, all of these and more. We have with us today, Chirag Taneja, the Co-founder of GoKwik, Amit Lakhotia, Founder of Park+, Anindya Dutta, the Co-founder of Stanza Living and Asish Mohapatra, Co-founder of ofBusiness, along with Avnish Bajaj, Founder and Managing Director at Matrix Partners India.
This week in Indian Startup News, Lava International files for IPO, OYO's legal tussle with Zostel ahead of IPO plans, SEBI eases superior voting rights rules for founders, Swiggy spins off Supr Daily as founders exit, Reliance in talks to buy stake in InMobi's Glance and DotPe acquires Rista. In funding news, Meesho raises $570 million, OfBusiness raises $200 million, Delhivery raises $125 million, Vedantu raises $100 million to become a unicorn and CredAvenue raises $90 million. Lava International files for IPO: With Indian markets at an all-time high and a positive outlook on IPOs, Indian mobile manufacturer Lava International has also filed for an IPO to raise Rs 500 crore. While their market share has been declining ever since Chinese smartphone makers entered the Indian market, they still hold a significant 20% market share in India's declining feature phone market. OYO's legal tussle with Zostel ahead of IPO plans: OYO's legal tussle with Zostel over an acquisition deal that never went through could impede their IPO plans. Back in 2015, OYO had signed a deal with Zostel to acquire their hotel business Zo Rooms in exchange for up to 7% stake in OYO. However, OYO called off the deal in 2017. While OYO maintains that it was a ‘non-binding' agreement, Zostel disagrees and has taken them to court seeking their 7% stake in OYO. SEBI eases superior voting rights rules for founders: India's startup ecosystem is driven by the millions of dollars pumped in by the VCs every year. While it's great for the growth of a startup, founders eventually end up losing control of their own startups as their stake in the startup gets diluted. In order to keep this from happening, SEBI had introduced superior voting rights in 2019. Previously, only promoters/founders who had a net worth of Rs 500 crore could get SR shares but now that limit has been doubled to Rs 1,000 crore. Swiggy spins off Supr Daily as founders exit: Swiggy-owned subscription-based grocery platform Supr Daily's founders have decided to leave the startup and it will now be headed by Swiggy's new co-founder Phani Kishan. The grocery delivery giant has also decided to spin-off Supr Daily into a separate entity under their parent company Bundl Technologies to tap the rising demand of online grocery delivery. Reliance in talks to buy stake in InMobi's Glance: According to multiple media reports Reliance is now in talks to acquire a stake InMobi's Glance in a deal which is expected to be worth around $300 million. DotPe acquires Rista: DotPe, a startup that is helping offline stores come online by offering them digital storefront and helping them accept online payments, has acquired a POS (Point of Sale) software provider Rista in an all-cash deal. Meesho raises $570 million: Social e-commerce unicorn Meesho has raised a massive $570 million round from Fidelity and B Capital at a $4.9 billion valuation as they plan to reach 100 million monthly transacting users by December 2022. OfBusiness raises $200 million: B2B commerce and lending unicorn OfBusiness has raised $200 million in a round from Tiger Global Management at a $3 billion valuation to strengthen their raw material supply chain and financing business. Delhivery raises $125 million: Logistics and delivery giant Delhivery has raised $125 million from Lee Fixel's Addition ahead of their expected IPO. Vedantu raises $100 million to become a unicorn: Edtech startup Vedantu has raised $100 million from ABC World Asia – making them India's 27th unicorn this year and 5th edtech unicorn after Byju's, Unacademy, upGrad and Eruditus. CredAvenue raises $90 million: CredAvenue, an enterprise debt marketplace, has raised $90 million in their series A round led by Sequoia Capital – making it India's largest series A funding and valuing the one-year-old startup at $410 million.
This week in Indian Startup News, Vinata Aeromobility to introduce their hybrid flying car, Freshworks successful IPO makes 500 employees crorepatis, OYO expected to file for IPO next week, Agnikul Cosmos signs a deal with ISRO to test their rockets, Karnataka bans ‘games of chance', Dream11 turns profitable, Ola sells electric scooters worth Rs 1,100 crore in two days, Infra.Market acquires RDC Concrete and Byju's acquires Tynker. In funding news, Cars24 raises $450 million, Medikabazaar raises $75 million and ZestMoney raises $50 million. Vinata Aeromobility to introduce their hybrid flying car: Vinata Aeromobility is all set to launch their autonomous hybrid flying car – which is said to be Asia's first – at the Helitech Expo in London on 5th October. They will be starting the trials of their hybrid-electric car by 2023 and expect commercial flights by 2025. Freshworks successful IPO makes 500 employees crorepatis: Freshworks has raised $1.03 billion in their IPO at a $10.13 billion valuation – making them India's first SaaS startup to go public in the US. In the process, more than 500 of their employees have turned crorepatis. OYO expected to file for IPO next week: Indian hotel chain startup OYO is expected to file for IPO as soon as next week. While the pandemic has been hard for them, they have already turned profitable at an operational level and are planning to raise $1.2 billion in the IPO. Agnikul Cosmos signs a deal with ISRO to test their rockets: After Skyroot Aerospace, Agnikul Cosmos has signed an agreement with ISRO to test their rocket systems at ISRO facilities. Karnataka bans ‘games of chance': Karnataka has passed a bill banning ‘games of chance'. While that doesn't seem like a big deal – what might be troubling for some online gaming platforms is the fact that Karnataka's Chief Minister Basavaraja Bommai has said that the government will act against operators and abettors who run ‘games of chance' disguised as ‘games of skill'. Dream11 turns profitable: India's most valuable gaming startup Dream11 has turned their finances around and joined the league of profitable startups like Zerodha, Nykaa, OfBusiness and Boat. Ola sells electric scooters worth Rs 1,100 crore in two days: Ola Electric managed to sell electric scooters Ola S1 and S1 Pro worth ₹1,100 crore in two days – concluding their first sale. Infra.Market acquires RDC Concrete: Marketplace for procuring construction materials Infra.Market has acquired RDC Concrete – which is the largest independent ready mixed concrete company in India – for $100 million. Byju's acquires Tynker: Edtech giant Byju's has acquired US-based coding platform Tynker – making it their 9th acquisition this year. Cars24 raises $450 million: Used car marketplace Cars24 has raised $450 million in a round led by DST Global, Falcon Edge Capital, Softbank Vision Fund 2 at a $1.84 billion valuation. Medikabazaar raises $75 million: B2B online marketplace for procuring hospital supplies Medikabazaar has raised $75 million in a round led by CDC Group, Creaegis Limited, CIF, HealthQuad Fund. ZestMoney raises $50 million: Buy now pay later (BNPL) platform ZestMoney has raised $50 million from Australia's Zip to strengthen their product suite by launching new insurance and savings products and add more merchants on their platform.
Vasant Sridhar is a Co-founder and Chief Sales Officer at OfBusiness, an SME financing platform. Prior to co-founding OfBusiness, Vasant was the founder of Bloodline labs and later held several positions at ITC. In this episode he spoke about B2B commerce in India, rediscovering finance through first principles, building to last and much more in his interview with Roshan Cariappa. Key Highlights: (00:00) Introduction (01:13) Vasant's learnings from ITC (04:10) Excited for B2B Commerce (07:21) Streamlining Demand and Supply (10:36) Team Structure at OfBusiness (15:49) Nuances of Matching Supply and Demand (19:25) Rediscovering Financing through first principles (22:53) Tech business vs tech-enabled business (25:44) Setting up a Sales Org @ OfBusiness (28:34) Attracting quality talent (32:07) How 'building to last' translates to everyday decisions (34:51) OfBusiness' future plans (36:38) Is IPO on the horizon for OfBusiness? (37:31) How does Vasanth see Indian Manufacturing space evolving in the future? (40:06) Vasant's Books and Podcast recommendations ------------------------------------- Click here to get regular WhatsApp updates: https://wa.me/message/ZUZQQGKCZTADL1 ------------------------------------- Connect with Vasant: Linkedin: https://www.linkedin.com/in/vasant-sridhar-44b9202b Twitter: https://twitter.com/VasantSridhar ------------------------------------- Connect with Us: Linkedin: https://www.linkedin.com/company/startup-operator Twitter: https://twitter.com/OperatorStartup ------------------------------------- If you liked this episode, let us know by hitting the like button and share with your friends and family. Please also remember to subscribe to our channel and switch on the notifications to never miss an episode! --- Send in a voice message: https://anchor.fm/startup-operator/message
Last fortnight, OfBusiness raised $160M, joining the stampede of 26 unicorns this year. Join us for a behind-the-scenes peek at the A Junior VC piece - AJVC Unfiltered 33: Can OfBusiness help SMB's get Supply Smarter? For more details - https://ajuniorvc.com/ofbusiness-b2b-financing-supply-unicorn-india-startup-zetwerk-inframarket/
A journey that started 6 years ago has resulted in one of the few Profitable Unicorn startups in India. In the episode today, we speak to Asish Mohapatra, Co-Founder & CEO of Ofbusiness, a B2B Commerce & Lending startup focused on serving the Small & Medium Businesses of India. Episode Outline: (00:00) - Introduction(03:32) - Decision to quit a career as a Venture Capitalist to become an Entreprenuer(06:10) - Deciding to do B2B Commerce + Lending (08:45) - Framework for early iterations to find Product Market Fit (13:00) - Creating a new market vs disrupting an existing market (19:09) - Convincing Investors about a India Specific business that had no global parallels(22:32) - How the team built a Lending business without any prior experience (27:28) - How Ofbusiness built an incredible Sales Engine(36:04) - Scaling Culture across different offices and business verticals(40:19) - Focus on profitability from Day 1(42:24) - Depth vs Width while evaluating new opportunities(47:00) - Difference between Tech Enabled & Tech Led Businesses (51:33) - The Future of SME Ecosystem in India (57:46) - The Future of Ofbusiness (1:00:00) - Excellent breakdown of how evaluate value chains (1:02:30) - Work-Life Balance (1:04:46) - Relationship with Money (Professional as well as personal)
In this Episode, I (@Jivraj Singh Sachar) speak with Asish Mohapatra, Co-Founder & CEO - OfBusiness. Through the episode we discuss the following: 1. (02:16) : Choosing to be an Entrepreneur after living the Consulting & VC Life! 2. (04:08) : When do you know you're ready to take the leap of faith & become a Founder? 3. (06:51) : The Founding Story of OfBusiness ~ the approach of team first, solution next. 4. (10:30) : How did Asish go about gathering the early set of OfBians? 5. (14:33) : The Ecosystem Approach for OfBusiness - Going deep not wide. 6. (19:11) : PROFITABILITY MATTERS! ~ Asish being the Chief Profitability Matters 7. (22:49) : What makes OfBusiness stand-out and helps them create delta for the Consumer? 8. (28:49) : Optimising for comprehensive stakeholder satisfaction!! 9. (32:12) : The secret to the incredible culture at OfBusiness (?) 10. (38:02) : The priority order that helps establish efficiency at OfBusiness! 11. (41:30) : Uncovering Venture Partnerships from both sides of the Table 12. (46:18) : What really matters eventually for Asish? 13. (49:28) : Parting thoughts & Learnings from Asish's journey! 14. (51:52) : Conclusion Here is the 61st Episode of the Indian Silicon Valley Podcast - Building a Proficorn! That was it from this Episode, thanks again for tuning in! :) We're available on Instagram & Twitter. Feel free to drop in your feedback! Do not forget to Subscribe to our WhatsApp Newsletter. Do share the Episode with your friends if you liked the content :) I, Jivraj, am reachable on LinkedIn & Twitter! "If you never try, you never know" Stay Tuned, Keep Building.
This week in Indian Startup News, Karan Bajaj quits WhiteHat Jr, e-RUPI explained, Food delivery partners protest against exploitation from Zomato and Swiggy on Twitter, Zomato's grocery delivery and Zomato Pro Plus, CarTrade IPO date, Policybazaar files for IPO, Nykaa files for IPO and UpGrad acquires KnowledgeHut. In funding news, Unacademy raises $440 million, BharatPe raises $370 million to become a unicorn, OfBusiness raises $160 million to become a unicorn, Infra.Market raises $125 million and MindTickle raises $100 million to become a unicorn. Karan Bajaj quits WhiteHat Jr: After selling WhiteHat Jr to Byju's in a massive $300 million all-cash deal last year, Karan Bajaj has decided to quit the startup as he plans on taking a sabbatical before starting some public service work. e-RUPI explained: e-RUPI is a digital prepaid voucher that can be used by the beneficiary to avail a specific service without the need of an app, internet connection or even a bank account. This is going to be primarily be used by the government to ensure that the money allocated to a beneficiary not only reaches them but is also used for the purpose it was intended. Food delivery partners protest against exploitation from Zomato and Swiggy on Twitter: According to the latest report by ET, food delivery partners have taken to Twitter to raise their voices against the exploitation by Swiggy and Zomato. Their complaints include lack of compensation for rising petrol prices, absence of first-mile pay, lack of long-distance return bonus and daily earnings cap. Zomato's grocery delivery and Zomato Pro Plus: After stopping grocery delivery services, Zomato has restarted grocery delivery on their platform after their investment in Grofers and they have also introduced Zomato Pro Plus - offering services like free delivery to their customers. CarTrade IPO date: Online marketplace for used cars CarTrade's IPO is all set to go live on 9th August. This profitable startup is planning to raise $400 million during the IPO. Policybazaar files for IPO: PB Fintech, the parent company of Policybazaar and Paisabazaar, has filed their DRHP and are planning to raise $800 million through the IPO. Nykaa files for IPO: Nykaa has filed for an IPO and they are planning to be the first profitable unicorn to go public. They are looking to raise $540 million at an expected valuation of $5-$5.5 billion. UpGrad acquires KnowledgeHut: Professional upskilling platform UpGrad has acquired another professional certification course provider KnowledgeHut to strengthen their upskilling and reskilling portfolio. Unacademy raises $440 million: Edtech unicorn Unacademy has raised $440 million in a round led by Temasek Holdings. BharatPe raises $370 million to become a unicorn: Digital payments and lending startup BharatPe has raised $370 million in a round led by Tiger Global – turning them into a unicorn. OfBusiness raises $160 million to become a unicorn: B2B e-commerce and financing platform OfBusiness has raised $160 million in a round led by SoftBank – turning them into a unicorn. Infra.Market raises $125 million: B2B marketplace for construction materials Infra.Market has raised $125 million as its valuation climbs to $2.5 billion. MindTickle raises $100 million to become a unicorn: SaaS startup MindTickle has raised $100 million to be the third Indian startup to turn unicorn this week.
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#10 Wakefit: Founded by Chaitanya Ramalingegowda and Ankit Garg in 2015, Wakefit started selling mattresses online and were already making a profit within six months of operations. Today, this D2C mattress startup is selling 1,500 mattresses to their 500,000 customers every day – raking in a revenue of $26.5 million and making a profit of $1.3 million in FY20. #9 Lenskart: Founded by Peyush Bansal in 2010, Lenskart offers an omnichannel platform for selling eyewear and lenses through their online platform and offline stores. The company has been investing heavily in setting up new physical stores – taking the number of offline stores to over 750. This is why the startup took a decade to reach profitability. In FY20, Lenskart made a revenue of $130 million with a profit of $2.4 million. #8 Cashfree: Cashfree is a digital payments gateway platform that offers more than 100 payment methods to over 50,000 businesses around the world with a team of just 130 employees. Their ability to stay lean has not only enabled them to scale but also remain profitable from the get-go. Their profit increased 14X from just $190,000 in FY18 to $2.6 million in FY20. #7 BrowserStack: India's most valuable SaaS startup BrowserStack enables developers to test their apps remotely using their cross-browser testing platform that has more than 2,000 devices and is being used by over 50,000 businesses across the world. The company has been profitable since day one. In FY20, BrowserStack raked in a profit of $3.8 million. #6 Aye Finance: SME lending startup Aye Finance has been profitable for the last three consecutive years and has disbursed loans worth more than $538 million to more than 200,000 small businesses. Aye Finance's profits have increased to $5.3 million in FY20. #5 Lendingkart: Founded in 2014, Lendingkart has disbursed loans worth $741 million to more than 100,000 small businesses. This fintech startup first achieved profitability in FY19 and their profits stand at $5.6 million in FY20. #4 OfBusiness: B2B e-commerce and lending startup OfBusiness uses purchase financing – providing businesses with a loan that they can use to purchase raw materials from their e-commerce platform. Once their profits from the interest started coming in, OfBusiness started making money and they are now on their way to becoming a unicorn. Their profits jumped 73X from just $150,000 in FY18 to a healthy $80 million in FY20. #3 CarTrade: Founded in 2009, CarTrade is the only profitable online used car marketplace. This decade-old startup has already filed for an IPO and is expected to hit the stock markets soon. The company significantly decreased its losses from $20 million in FY16 to just $2 million in FY17. They first turned profitable in FY18 and they did this through internal restructuring, key acquisitions and cost-cutting measures. Today (FY20), they are making a healthy profit of $11.5 million. #2 Boat Lifestyle: Indian consumer technology startup Boat started in 2016 by selling charging cables and were able to hit profitability within the first year. Next, they launched more products like earphones, headphones and smartwatches with quality and affordability in mind to target value-minded Indian consumers. This strategy only accelerated their growth. Boat's profit's increased by 30X from just $225,000 to $6.6 million in FY20. #1 Zerodha: India's largest stockbroking platform Zerodha has managed to change the entire stock trading industry single-handedly and they did it without even raising any external funding or marketing their product. Today, Zerodha charges just Rs 20 (or 0.03% as commission – whichever is lower) from their customer for every intraday trade. Thanks to that, Zerodha earned a solid $135 million in profits in FY21.
This week in Indian Startup News, WazirX launches India's first NFT marketplace, RBI clarifies that crypto trading isn't banned, Delhi allows online delivery of alcohol, Nykaa's IPO plans, Dunzo to deliver medicine using drones, Infra.Market acquires Equiphunt, Byju's acquires HashLearn and xto10x acquires Dockabl. In funding news, Delhivery raises $277 million, Urban Company raises $255 million, OfBusiness in talks to raise up to $150 million and Mensa Brands raises $50 million. WazirX launches India's first NFT marketplace: India's largest cryptocurrency trading platform WazirX has launched India's first NFT marketplace- enabling artists to sell NFTs on their platform using their own cryptocurrency. RBI clarifies that crypto trading isn't banned: Some good news for the cryptocurrency investors as RBI has released a new circular clarifying that banks cannot cite their 2018 circular which banned crypto trading as it was quashed by the Supreme Court last year. However, they still want banks to be cautious. Delhi allows online delivery of alcohol: Delhi government has allowed online delivery of alcohol from apps and websites but it might still be a while before it becomes reality and online delivery startups like Swiggy, Zomato and Dunzo start delivering alcohol in the city. Nykaa's IPO plans: Falguni Nayyar led omnichannel beauty retailer Nykaa is expected to IPO this year – raising anywhere between $500-700 million at a $4.5 billion valuation. Dunzo to deliver medicine using drones: Dunzo has partnered with the Telangana government for their ambitious ‘Medicine from the sky' project to help them deliver medicine to remote parts of the state using drones. Infra.Market acquires Equiphunt: A marketplace for real estate companies to procure construction materials Infra.Market has acquired a majority stake in a contruction equipment rental startup Equiphunt for $10 million. Byju's acquires HashLearn: Byju's has acquired a subscription-based on-demand tutoring platform HashLearn to strengthen its position in the test-preparation segment. xto10x acquires Dockabl: Binny Bansal's xto10x which helps startups in scaling their business efficiently has acquired an HR-Tech startup Dockabl to offer a performance management tool to track and enhance the productivity of employees. Delhivery raises $277 million: Logistics startup Delhivery has raised $277 million in a round led by Fidelity and GIC at a $3 billion valuation and it is expected to go public this year. Urban Company raises $255 million: On-demand home services startup Urban Company has raised $255 million from Prosus Ventures, Dragoneer Investment Group and Wellington Management. OfBusiness in talks to raise up to $150 million: OfBusiness is in talks with SoftBank to raise up to $150 million at a $1.2 billion valuation – making it a unicorn.
In this video, Mr. Nitin Jain talks about the SME ecosystem and how he build a business that enables SMEs with finance & credit. Check out his: LinkedIn: https://www.linkedin.com/in/nitin-jai... Website: https://www.ofbusiness.com/ YourStory: https://yourstory.com/2017/09/ofbusin... Twitter: https://twitter.com/njain351 Times of India: https://timesofindia.indiatimes.com/v...
33voices, interviews Susan Baroncini-Moe, author ofBusiness in Blue Jeans.
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