Archives 2023

New Delhi, January 24, 2023: Globevestor founder recently announced the launch of a new global micro-VC firm called Momentum Capital. With presence in Canada, India & the US, Momentum Capital focuses on seed-stage Indian startups and leverages its strong international network to help them grow globally.

Ankur, who co-founded Globevestor in 2013, has invested in over 40 startups including Agnikul, Springboard, Zoomcar, Devtron, Good Health Company, Flintobox and many more success stories. His past investments are spread across several industries, including SaaS, climate, health, and EdTech. His prior portfolio startups have raised over $500 million in funding from Sequoia, Accel, Y Combinator, Khosla Ventures, Menlo Ventures, Insight Partners, Foundation Capital, etc. and are collectively valued at over $1.5 billion now.

“At Globevestor, we successfully pioneered a focused cross-border, hybrid-VC approach to investing across the US-India corridor to support Indian startup founders. Momentum Capital is an organic jump in the journey to deeply leverage our global network & cross-border presence for the benefit of Indian startup founders”, Ankur Shrivastava (Founder & Managing Partner, Momentum Capital) shared.

Momentum Capital has a cross-border team & deep network in Canada, India & the US, and it actively helps founders scale across the globe. Its strong and impressive advisory and partner network include Bill Draper (Founder, Sutter Hill Ventures), Adam Draper (Founder, Boost VC), Adeo Ressi (Chairman, Founder Institute), Mike Suprovici (Head of Acceleration, VC Lab), Abhilash Singh (Founding Partner, Auctus Advisors), and several global CXOs from leading VC/PE firms, tech giants, blitzscaling startups and top consulting firms.

“We’ve consciously chosen a strong set of advisors, investors, and venture partners across continents and verticals, to supercharge access to global capital and knowledge for Indian founders at the seed stage itself. I’ve shifted base to North America recently to double down on this further.” Ankur added.

The firm has finalized a couple of stealth investments already, and while being largely sector-agnostic, it will have affinity for technology startups in climate, health and SaaS as key themes.

India has seen a few globally competitive startups being built at home already in recent years, but the firm believes that the next decade will belong to a drove of global tech leaders born in India.

“Despite the ongoing funding winter, it remains a great time to build for Indian entrepreneurs. We aim to work with passionate founders building for India and the world with more financial discipline. We are here to support them in their quest to win anywhere in the world.” Ankur signed off.

Momentum Capital is a global micro-VC firm with presence in Canada, US & India, and invests in Indian technology startups at pre-seed and seed stage across sectors, with affinity for climate, SaaS, and health. With a strong set of advisors, investors, and partners who have deep investing experience spread across continents & verticals, the firm supercharges global network leverage for Indian founders at the earliest stages.

1. Betterhalf

Founded in 2016 Bangalore-based Betterhalf, is an AI-based matrimony application. first AI-driven matrimonial app without the direct involvement of the parentsBetterhalf is India’s first and only matrimonial app without the direct involvement of parents. It is the fastest-growing matrimony app in India connecting hearts through AI technology on both IOS and Android for free. Betterhalf is a revolution in the matrimony industry. It is here to break the old approach of matchmaking apps in India with its advanced compatibility algorithm powered by AI.

In 2022 Betterhalf recorded a dramatic growth of $2M annualized revenue in FY22 with 50% quarterly growth.Betterhalf.ai’s recorded growth was fueled by its key matchmaking service which drives 70% of the company’s revenue while non-matchmaking services like wedding decorations, photography, loans, verification, and astrology drive 30% of the company’s revenue. Apart from the record high revenue growth, the app has also recorded a 250% growth in its team size by adding 75 full-time employees in 06 months. With 75,000 users added every month to the app, it is working aggressively to touch $3M annualized revenue by the end of FY23.

2. EMotorad

Founded in 2020 EMotorad (EM) is a Pune-based electric vehicles company that strives to bring eco-friendly, futuristic e-bikes at an affordable price for adventure seekers, daily commuters, or casual riders. The EV startup aims to bring across premium quality electric cycles at an affordable price, utilizing its local sourcing and manufacturing capabilities in India. In a short span of time, Emotorad has expanded its business in Japan, UAE & Nepal. EMotorad is globally present in many geographies. Alongside onboarding 160+ dealers in India. EM currently is present across 82 towns and cities in India and abroad. They are currently present in India, UAE, Japan, and Nepal.

In a short span, the company has sold over 35,000 units and has a production capacity of 90,000+ units YOY which is further projected to increase to 2 lakhs by the end of next year. In the first fiscal of operations, the EV company recorded a revenue of INR 4 Cr. in FY21 which has reached a lifetime revenue of INR 140 Cr. in the first six months of FY23. Furthermore, the company projects to generate a cumulative revenue of INR 165 Cr. by the end of FY23.

3. Instahyre

Instahyre, An innovative hiring platform based on artificial intelligence developed by a Delhi-based HR-tech startup makes it easy for recruiters to find top candidates. It is a ground-breaking platform that gives businesses the ability to locate talent with 10x greater precision and in 10x less time than with any other options.
During the period of the first and second wave of layoffs, Instahyre has helped over 30,000+ impacted employees get back on their feet. Currently, the platform has 42 million registered job seekers belonging to IT, BFSI, and ITeS domains The platform has also resulted in a reduced time to hire by 60-70% for companies using its ML-powered reminders, interview auto-scheduling, and other features while showcasing the profile of the most impacted candidates at the top of the priority list. Instahyre is used by the largest of companies and unicorns accounting for 10,000+ companies Despite the drop in business, Instahyre has made profits in the last five years. The business has not seen a global downturn or recession. As a result of its annual subscription security, the company has seen a boost in revenue of 70%

By  Kumar Saurav, Global Mobile Business Head, AdCounty Media Pvt. Ltd

If there is one common fact that all marketers and business owners unanimously agree to, it is that customers have an inexplicable love for discounts. Offering discounts is one of the most sought-after ways to get hold of your target audience’s attention alongside boosting sales. The growing importance of discounts can be attributed to the advent of online shopping. Discounts can help in customer acquisition, but if not executed well, they can lead to losses and tint the brand’s reputation.

Early bird discounts refer to discounts that are restricted to only the first few customers of the latest product or service. When companies launch a new product or service, they do with the fundamental goal of creating as much awareness as possible. To penetrate the market, battle existing competition and get going with sales, most brands offer early bird discounts.

In most cases, the early bird discount strategy is effective on account of the fact that they are tied to a time limit and that quick action is needed to avail the product or service. It is this sense of urgency which then translates into the purchase.

Early bird discounts are especially effective when launching new products or services to try and get as many people as you can to buy them. Many online stores have promotional offers like pre-order discounts to drive more traffic to the new product/service. However, offering huge discounts on a product prior to its launch can reduce its value in the consumer’s mind. Thus, ensuring that the discount is only a tiny percentage of the total price of the product is crucial in order to amp up sales.

The “few-items-left” or “offer valid for 1^st 30 orders only” revolves around simple psychology. Jack Brehm, in his book, ‘Theory of Psychological Reactance,’ states that consumers often lose freedom of choice when they have limited opportunities. Consequently, when the choices are limited, the urge to keep that freedom intact increases the want for the particular product. Plus, with the ‘early bird pricing”, people feel empowered since they believe they have landed a good deal.

A few steps to ensure no stone is left unturned in making the most of the early bird discount strategy are:

·       Communicate Your Value To Your TG

Leverage your online channels to create a unique connection with your visitors via storytelling and eye-catching imagery. List frequently asked questions on your website so visitors can quickly discover them.

·       A Dedicated Landing Page

Create a unique early bird pricing page and direct your visitors using social channels. Introduce deadlines and declare that a limited user base can avail the offer to entice buyers.

·       Use Email Marketing For Promotions

One of the easiest and most efficient ways to keep your product/service on top of mind is through email. Describe in your email promotion how your early bird price enables customers to purchase an incredible product for less!

·       Introduce FOMO (Fear of Missing Out)

Set a deadline for the early bird pricing period in your strategy. Limit the booking window to create FOMO (fear of missing out). When stating the expiration date for your pricing offer, be specific and adhere to the deadline.

·       Track Results

Result tracking is indispensable in helping a business understand if the early bird discounting strategy is proving to be beneficial for them. Tracking the sales amount, customer acquisitions, repeat customers, revenue, etc., are instrumental in formulating a plan of action.

The 3 significant benefits tied to offering early bird discounts are:

·       Aids Data Collection For Marketing – Data is indispensable in the world of marketing.

·       Early Audience Engagement

·       The sense of urgency prompts interested buyers to spread the word about your product or service, amplifying your reach.

Authored by Kumar Saurav, Global Mobile Business Head, AdCounty Media Pvt. Ltd