Archives 2023

Nalin Negi- CFO and Interim CEO, BharatPe

“We warmly embrace the Union budget 2023. Fintechs have come a long way over the last few years, and the Government’s initiatives to drive financial inclusion and enable digital payments have been one of the key drivers of the growth journey of this sector. Fintech services in India have been facilitated by India’s digital public infrastructure including Aadhaar, PM Jandhan Yojna, video KYC, India Stack and UPI, and digital payments have grown by 76% in transactions in 2022. In this budget, FM Nirmala Sitharaman has reimagined the government’s Digilocker services for the fintech sector. This will further aid the growth of the sector, along with the Government’s continued support to drive digital payments. Also, the government’s plans for encouraging countries looking for digital continuity solutions to set up data embassies at the GIFT City will further help position India as a global leader in the fintech industry.

Technological advancements can give us the edge as we strive to become a US$ 5 trillion economy. The announcement of setting up of Centres of Excellence for AI will fuel the focus on technology and innovation. Also, the National Data Governance Policy that will bring in innovation and research by startups and academia will enable access to anonymized data.”

Rahul Garg, Founder & CEO, Moglix & Credlix

“It’s encouraging to see that despite the global recessionary waves, India’s economy is growing. The Union budget 2023–24 builds upon the foundation established by the previous budget, with a vision of a prosperous, inclusive India where the fruits of growth reach all sections. Overall, this budget continued focusing on promoting exports, boosting domestic manufacturing, enhancing domestic value addition, encouraging green energy and mobility, streamlining the supply chain, and providing economic support to MSMEs across the country. Lowered tax rate of 15% for new companies starting manufacturing activities by March 31, 2024, will act as a catalyst, driving the public-private partnership investment in infrastructure, including railways and roads. The thrust on manufacturing & infrastructure will enable the country to achieve the target of achieving a manufacturing potential to export goods worth $1 trillion by 2030. National Green Hydrogen Mission will facilitate the transition of the economy to low carbon intensity and reduce reliance on fossil fuel imports, thus contributing to green growth. According to our commitments at COP26 and COP27 on climate action, the Union Budget signaled the beginning of the decarbonization of India’s inbound supply chain. The National Data Governance Policy will unleash innovation and research by start-ups and academia, enabling access to anonymous data. The Unified Skill India Digital Platform would facilitate demand-based formal skilling, employer linkage (including MSMEs). Revamped credit guarantee scheme for MSMEs to infuse Rs. 9000 crore into the corpus. The budget has brought about entrepreneur-friendly measures on the policy and legal fronts to drive operational excellence across sectors. Access to entrepreneurial initiatives to further bolster the economic and human resource foundation of the country will drive start-up ecosystem in the country.”

Bonn Group of Industries, one of India’s leading manufacturers of FMCG Food products, is focused on establishing connections and building bonds of trust and successful partnerships with its massive channel partners’ network. The brand organized an exclusive channel partners’ meet in Gwalior, MP. Coming together to acknowledge performance and construct plans, the event was marked by insightful discussions and guidance by leaders. Besides being appreciated for achieving sales objectives through the hygienic distribution of products, the channel partners were also celebrated for being an integral part of the company’s progress journey.

The channel partners were also acknowledged for their efforts in helping the company to meet its Sales objectives by ensuring the hygienic distribution of Bonn Products across the state. The top deck from Bonn Group shared its vision to target double-digit growth and build the MP market as one of its prime markets. The objective of the meeting was to make the channel partner feel that they are very much a part of the Bonn Group of Industries and that their growth is an integral part of the company’s progress.

“With a well-established network in India, we endeavor to penetrate urban and semi-urban areas of MP through our highly committed channel partners & Sales Team; Distribution is the core of any FMCG business; therefore, we always make a conscious effort to align channel partners with Company’s way forward’’, said Mr. Dawinder Pal, Head of Marketing, BONN Group of Industries.

“Gwalior channel partners’ meeting has helped us in identifying challenges & market gaps Madhya Pradesh market. Despite our good performance amid COVID, we want to take the game ahead by making the best of the coming quarter. The channel partners have been about our new products with which they can help us achieve pre-COVID sales numbers,” said Mr. Navdeep Chadha, VP Sales, Biscuit.

Guest of Honor

1. Navdeep Chadha (VP Sales)
2. Dawinder Pal (Head of Marketing Bonn Group)
3. Rakesh Sharma (AGM Sales)
4. Dinesh Sharma (Sr Sales Manager)
5. Sukhpreet S. Naz (Assistant Brand Manager)

Indore, 24 January 2023: Kotak Securities Limited today announced its strategic tie-up with Indore-based Exclusive Securities – a leading Madhya Pradesh based brokerage firm, with clientele spread across Madhya Pradesh, Maharashtra, Chhattisgarh, Rajasthan, Tamil Nadu, and Karnataka. Under this partnership, Kotak Securities will cater to over 30,000 investors and clients of Exclusive Securities.

This partnership will help both Kotak Securities and Exclusive Securities provide technology-led investment products and services to their clientele across the country.

Jaideep Hansraj, MD & CEO, Kotak Securities Limited said, “We are truly excited to partner and service around 30,000 investors through this tie-up with Exclusive Securities. In the coming months we will ensure seamless integration and provide the best possible service to the newly on-boarded clientele. This tie-up will further strengthen the investor’s journey in the stock market with our research insights, trading app loaded with a host of features to make transactions faster.”

BD Bhatter, Chairman, Exclusive Securities Limited added, “We are delighted to have this strategic tie-up with Kotak Securities. Kotak is one of the most trusted names in the BFSI segment. Both companies have been in business for a number of decades and coming together will give the clients the expertise of over 50 years.”

Sanjay Samaiya, Director, Exclusive Securities Limited also said, “This alliance with Kotak Securities will create more opportunities for customers to invest in a wide range of products along with robust technology. It will be a win-win situation for all stakeholders of both entities, and it will empower the Exclusive group to serve the clients with best practices in the industry for their wealth creation.”

Mumbai, 24 January 2023: Columbia Pacific Communities (CPC), India’s largest and most preferred operator of senior living communities, inaugurated ‘The Virtuoso’, India’s first independent senior living community designed to international standards, for its customers earlier this year. With the opening of its signature project – The Virtuoso, CPC is proud to be the only senior living operator in the country with 10 operational communities.

The signature senior living community is enhanced by a 20,000 sq. ft. clubhouse at the heart of the community, fine dining, a mini theatre, a multipurpose hall, guest houses, and other senior-friendly amenities. The Virtuoso also offers world-class amenities and facilities such as efficient cleaning services, 24-hour medical care and ambulance, chef-prepared meals, concierge services, and taking care of the residents’ household chores, so that they can lead an active, yet worry-free life. The community’s services also include planning a variety of daily activities for residents that support their physical, mental, emotional, and intellectual well-being.

Commenting on the launch, Mohit Nirula, CEO, Columbia Pacific Communities, said, “It gives us great pleasure to announce the opening of The Virtuoso, our tenth senior living community in the country. Columbia Pacific Management’s more than four decades of experience in senior living went into creating India’s first senior living community designed to international standards. The residents of The Virtuoso will be able to leave their daily chores to us so they may spend their time living life to the fullest, pursuing their hobbies and passions. Built on the concept of positive ageing, a lifestyle that encourages residents to be physically strong, mentally alert, intellectually stimulated and socially engaged, CPC encourages seniors to live their second innings on their terms.”

The names of the communal areas at The Virtuoso and every other aspect of the community have been well thought through. The common areas have been named after well-known, uniquely talented personalities from around the world in keeping with the project’s name, The Virtuoso. Every place is named after a virtuoso. For example, the main restaurant is named Jaffrey, after Madhur Jaffrey, a Padma Bhushan awardee and one of the most renowned Indian chefs in the world, credited with introducing Indian cuisine to the West. The Multipurpose hall is named Mangeshkar, after the nightingale of India, Lata Mangeshkar. And so on.

CPC has always believed in the idea of inclusivity and strives to associate with special causes that touch many lives. Taking forward this thought, CPC has included an 8’6″ by 5’6″ mural of a banyan tree painted by Nadeem Shaikh in the foyer of The Virtuoso. Nadeem Shaikh is a Mumbai-based foot painter who was born without hands and is affiliated with The Mouth and Foot Painting Artists Association (MFPA). The Banyan tree serves as Columbia Pacific Communities’ brand emblem representing consistency, stability, and permanence. From a design perspective, the intersecting arcs’ vivid colours signify the meeting point of Columbia Pacific Communities’ three pillars: hospitality, wellness, and real estate. The colours are a mix of fuchsia, amber, aqua, and lavender, and they signify a zest for life and a homage to the spirit of positive ageing. CPC’s guiding philosophy is positive ageing, which encourages residents to be physically healthy, mentally aware, intellectually stimulated, and socially active.

The imposing lobby displays various thoughtfully chosen objects that takes inspiration from the decades gone by and evokes nostalgia and also from flora and fauna. The collection of objects includes vintage artefacts such as lanterns, old telephones, old photo frames and animal figurines amongst others.

The art work for the lobby and other common areas have been carefully curated to reflect the various affinities and passion points of seniors – from food to music, and nature to architecture. It is a kaleidoscope of colours, bringing alive the walls of The Virtuoso, telling many stories and evoking a myriad of emotions.

Mumbai, Hyderabad, January 24, 2023: To celebrate the 74th Republic Day, GO FIRST (formerly known as GoAir) today launched the ‘Republic Day Sale’, with incredible fares starting from INR 1,199/- for domestic flights and INR 6,599/- for international travel.

Passengers can book across all domestic and international sectors operated by GO FIRST, anytime between 23rd to 26th January 2023, for a travel period starting from 12th February until 30th of September 2023. Tickets for the offer can be booked on GO FIRST website (www.FlyGoFirst.com), or via the GO FIRST official Mobile App.

This sale helps travellers to well-plan leisure or business travel at budget-friendly rates. In addition to this, GO FIRST always aims to provide a comfortable and convenient flying experience to all its passengers. Recently, GO FIRST also announced its opening sale of the year, the ‘Travel India Travel’ sale.

GO FIRST has always been at the forefront of customer satisfaction, and in line with its, You Come First philosophy, has introduced several passenger-friendly services aimed at providing a seamless experience. This offer is an extension of its customer-centric philosophy, “You Come First”.

DELHI – Jan. 24, 2023 – Exterro, a leading provider of Legal Governance, Risk and Compliance (GRC) software, has acquired Zapproved, a provider of e-discovery software known for its strong customer outcomes. This acquisition is the latest step in furthering Exterro’s vision to empower customers to proactively and defensibly manage their legal governance, risk and compliance obligations. The financial terms of the transaction were not disclosed.

Today, Exterro offers a comprehensive solution on a single unified platform that addresses all phases of the e-discovery and forensic investigative process. Converging market forces in privacy, digital forensics & incident response, including e-discovery have created a need for a comprehensive and unified solution that can identify, understand and manage data in a contextual manner within a consistent, defensible process that meticulously ensures and maintains data integrity. Modern enterprises must address critical business challenges within these disciplines as quickly and cost effectively as possible, which is one of the driving forces behind Exterro’s acquisition of Zapproved.

“I have known Monica Enand, President & CEO of Zapproved, since the early days of both of our companies’ origins in Portland, Oregon. Since inception, we have shared a common vision for providing market-leading software and support for our clients and partners, and the combination of Exterro and Zapproved will continue that vision by delivering enhanced value to our constituents,” said Bobby Balachandran, CEO & President of Exterro.

“Zapproved’s mission has always been to make our customers ridiculously successful,” said Monica Enand, President & CEO, Zapproved. “We are confident that combining Exterro’s innovation engine with Zapproved’s world-class customer experience brings the best of the industry together in one powerful and easy to use solution that comprehensively addresses the critical business challenges facing our customers today.”

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