New Delhi, March 27, 2025: OneStack, a fintech platform for cooperative banks in Bharat, has raised $2 million in Series A funding and will secure an additional $1 million soon as a part of the same round.
The round was led by Pentathlon Ventures, with participation from Yatra Angel Network and continued support from existing investors 100Unicorns and Venture Catalysts. The investment underscores the fintech’s strategic focus on scalable technologies that drive financial inclusion and digital transformation in underserved markets.
OneStack, founded by Amit Kapoor and Vishal Gupta, operates as a Technical Service Provider (TSP) and Application Service Provider (ASP), offering a unified technology stack to digitize India’s cooperative banking ecosystem.
The platform offers end-to-end solutions like Core Banking, Mobile Banking, NPCI UPI Switch, and BBPS Switch, allowing regional and rural banks to modernize operations and enhance services to compete with larger institutions.
Amit Kapoor, Cofounder of OneStack, said, “Our mission is to make every Bharat bank a neo-bank. With this funding, we aim to extend our footprint into South and East India, targeting an additional 200+ banks to achieve a pan-India market share of 20%. Simultaneously, we will deploy our CBS across 50+ institutions and onboard 100+ banks onto our NPCI UPI & BBPS Switch, enabling them to offer UPI services under their own branding. This expansion will directly impact financial inclusion for 5 crore Indians over the next 18 months.”
With over 200 cooperative banks already onboarded, OneStack commands a 20% market share in North and West India and supports seven out of 34 State Cooperative Banks, serving 35 crore Indians and six crore MSMEs through its infrastructure.
The cooperative banking sector forms the backbone of financial access for 50% of India’s bankable population yet remains underserved by digital solutions. OneStack addresses this gap by providing banks with tools to increase CASA deposits, offer credit facilities, and deliver insurance products through a SaaS-based model.
OneStack’s UPI Switch and BBPS Switch enable partner banks to independently issue branded UPI IDs and process Bharat BillPay transactions, minimizing reliance on third-party platforms. Since its last funding round, the company has deployed over 6,000 Soundboxes in 14 regional languages, improving payment connectivity in rural markets.
Dr Apoorva Ranjan Sharma, Managing Director, Venture Catalysts, said, “OneStack’s unique positioning as a full-stack enabler for cooperative banks aligns with our vision of backing platforms that democratize access to critical infrastructure. Their ability to penetrate Tier II/III markets and deliver ROI-driven solutions positions them as a catalyst for India’s next wave of banking digitization. Our investment in OneStack resonates with our goal of backing founders who solve complex, large-scale challenges.”
“At Pentathlon Ventures, we believe in backing disruptive B2B tech startups that redefine industries, and Onestack is a perfect example. India’s cooperative banking sector, serving over 230 million people, has long been underserved in digitization. OneStack is bridging this gap by empowering these banks with cutting-edge financial technology. Onestack is not just about digitization but about unlocking new efficiencies, trust, and financial inclusion at scale. We are excited to lead this funding round and support OneStack in revolutionizing Bharat’s financial landscape while creating a category leader in cooperative banking technology,”Sandeep Chawda, Managing Partner at Pentathlon Ventures added.
OneStack’s asset-light SaaS model, charging banks on a per-user/month basis, ensures predictable revenue streams while scaling with partner institutions.
Its upcoming expansion into South and East India will include localized onboarding teams and vernacular support, a strategy validated by the successes of Venture Catalysts’ portfolio in Tier II/III cities.
About Venture Catalysts
Venture Catalysts is India’s first integrated incubator. It typically invests $250K – $2 Mn in early-stage start-ups with the potential to create enduring value for over a long period of time. Founded in 2016 by Dr Apoorva Ranjan Sharma, Anuj Golecha, Anil Jain and Gaurav Jain, Venture Catalysts has invested in over 300+ startups since inception. The cumulative valuation of the startups invested by Venture Catalysts is $10 Bn+. Venture Catalysts has its presence across 55 cities in 9 countries and is one of the most active early stage investors globally.
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Britannia Industries is one of India’s leading food companies, with a 100-year legacy and annual revenues in excess of INR 16,000 crore. Britannia’s product portfolio includes Biscuits, Bread, Cakes, Rusks, and Dairy products, including Cheese, Beverages, Milk, and Yoghurt.
Britannia is a brand that many generations of Indians have grown up with and is cherished and loved in India and the world over. Brand Britannia is listed amongst the most trusted, valuable, and popular brands in various surveys conducted by prestigious organizations.
Know the Success Story of Britannia in the article ahead. Also, get a glance at Britannia’s company profile and know about the history of Britannia company, owner of Britannia company, Britannia’s Business Model, Founders, Revenue Model & more…
Britannia Industries Limited is a food company, that is engaged in the manufacture of Biscuits, Bread, Cakes, Rusks, and Dairy products, including Cheese, Beverages, Milk, and Yoghurt. The Company operates through the Foods segment, which comprises bakery and dairy products.
The Company’s product brands under the biscuits category include Good Day, Crackers, NutriChoice, Marie Gold, Tiger, Milk Bikis, Jim Jam + Treat, Bourbon, Little Hearts, Pure Magic, and Nice Time. Its products under bread include Whole Wheat Breads, White Sandwich Breads, and Bread Assortment. Its products under the dairy category include Cheese, Fresh Dairy, and Accompaniments. Its products under the cakes category include Bar Cakes, Veg Cakes, Chunk Cake, Nut & Raisin Romance, and Mufills. Its product under the rusk category includes Premium Bake.
The products of the Company are exported across the world, which include Gulf Cooperation Council Countries (GCC), African Countries, and American Countries. Its subsidiaries include Manna Foods Private Limited and International Bakery Products Limited.
Britannia – Logo and its Meaning
Britannia Logo
As explained by a spokesperson of Britannia, Britannia’s new logo signifies “rebranding as the Total Foods Company from now on with the expansion of its offerings in both healthy and indulgent products. The wings of a bird signify freedom to choose, whenever and wherever you want to enjoy your food.”
Britannia – Founder and History
Britannia Industry was founded in 1892 by a group of British businessmen with an investment of ₹295. Initially, biscuits were manufactured in a small house in central Kolkata.
1918 – The Company was born on 21st March of the year 1918 as a public limited company.
1921 – Britannia became the first company east of the Suez Canal to use imported gas ovens. Britannia’s business was flourishing. But more importantly, Britannia was acquiring a reputation for quality and value. As a result, during the tragic World War II, the Government reposed its trust in Britannia by contracting it to supply large quantities of ‘service biscuits’ to the armed forces.
1924 – A new factory was established in the year 1924 in Mumbai. In the same year, the Company became a subsidiary of Peek Frean & Company Limited UK, a leading biscuit manufacturing company and further strengthened its position by expanding the factories at Calcutta and Mumbai.
1952 – The Kolkata factory was shifted from Dum Dum to spacious grounds at Taratola Road in the suburbs of Kolkata. During the same year, automatic plants were installed in Calcutta.
1954 – The automatic plants were installed in the Mumbai plant. Also in the same year, the development of high-quality sliced and wrapped bread in India was initiated by the company and was first manufactured in Delhi.
1965 – A new bread bakery was set up in Delhi in the year 1965.
1975 – Britannia Biscuit Company takes over biscuit distribution from Parry’s during the year 1975.
1976 – The company introduced Britannia bread in Calcutta and Chennai.
1978 – The company made a Public issue in that Indian shareholding crossed 60%.
1979 – The Company redefined itself from Britannia Biscuit Company Limited to Britannia Industries Limited.
Fast forward to the Current Status of 2025 – Britannia is one of India’s oldest existing companies. It is now part of the Wadia Group headed by Nusli Wadia and is the owner of Britannia. The company’s revenue stood at INR 16,769.3crores INR in 2024. Varun Berry is the Executive Vice-chairman and Managing Director of Britannia Industries.
Ranjeet Kohli was the CEO of the company since 2022, and he resigned in March 2025.
Britannia – Mission
The mission statement of Britannia says, “To improve the financial health of our members and customers by satisfying their evolving borrowing, investment and housing needs.”
Bakery Products: Biscuits account for 95% of Britannia’s annual revenue. The company’s factories have an annual capacity of 433,000 tonnes. The brand names of Britannia’s biscuits include VitaMarieGold, Tiger Biscuits, Nutrichoice, Good day, 50-50, Treat, Pure Magic, Milk Bikis, Bourbon, Nice Time, and Little Hearts, amongst others.
In 2006, Tiger, the mass market brand, realized $150.75 million in sales, including exports to the U.S. and Australia. This amounts to 20% of Britannia’s revenues for that year.
Dairy Products: Dairy products contribute close to 5% to Britannia’s revenue. The company not only markets dairy products to the public but also trades dairy commodities business-to-business. Its dairy portfolio grew to 47% in 2000-01 and by 30% in 2001-02.
Britannia – Business Model
The company operates in two business segments, namely, bakery products and dairy products. The company derives ~95% of its revenue from the biscuits segment while ~5% of its total sales coming from the non-biscuits category (dairy) and the International market.
The company’s Dairy business contributes close to 5 per cent of revenue, and Britannia dairy products directly reach 100,000 outlets. Britannia Bread is the largest brand in the organized bread market, with an annual turnover of over 1 lac tons in volume and Rs.450 crores in value. The business operates with 13 factories and 4 franchisees, selling close to 1 million loaves daily across more than 100 cities and towns in India.
Between 1998 and 2001, the company’s sales grew at a compound annual rate of 16% against the market, and operating profits reached 18%. Presently, the company has been growing at 27% a year, compared to the industry’s growth rate of 20%. At present, 90% of Britannia’s annual revenue of Rs 22 billion comes from biscuits.
Britannia is one of India’s 100 Most Trusted brands listed in The Brand Trust Report. Britannia has an estimated market share of 38%.
Britannia – Financials
Britannia Industries has shown steady revenue growth over the years while managing its expenses efficiently. However, its net profit in FY24 declined by 7.8% compared to FY23.
Particulars
FY24
FY23
FY22
FY21
FY20
Revenue
INR 16,983.5 Crore
INR 16,516.4 Crore
INR 14,359.1 Crore
INR 13,449 Crore
INR 11,879 Crore
Expenses
INR 14,063.9 Crore
INR 13,864.6 Crore
INR 12,279.6 Crore
INR 10,935.6 Crore
INR 10,018.1 Crore
Net Profit/Loss
INR 2,134.2 Crore
INR 2,316.3 Crore
INR 1,516 Crore
INR 1,850.6 Crore
INR 1,393.6 Crore
Britannia Financials FY24
Revenue grew by 2.8% in FY24 over FY23, but net profit declined by 7.8% due to rising expenses.
Britannia Industries Revenue
Britannia has maintained steady revenue growth, supported by strong demand and expansion efforts.
Particulars
FY24
FY23
Revenue from Operations
INR 16,769.3 Crore
INR 16,300.5 Crore
Other Income
INR 214.2 Crore
INR 215.9 Crore
Total Revenue
INR 16,983.5 Crore
INR 16,516.4 Crore
Britannia Industries Profit/Loss
Despite revenue growth, profitability declined due to higher operational costs.
Particulars
FY24
FY23
Gross Profit
INR 2,919.6 Crore
INR 2,651.8 Crore
Operating Profit
INR 2,657.2 Crore
INR 2,079.3 Crore
Net Profit/Loss
INR 2,134.2 Crore
INR 2,316.3 Crore
Net profit declined by 7.8% in FY24, despite an increase in gross profit.
Britannia Industries Expenses
Expense management remains crucial for profitability, with higher costs affecting margins.
Particulars
FY24
FY23
Cost of Materials Consumed
INR 8,546.9 Crore
INR 8,326.7 Crore
Employee Benefits Expense
INR 708.7 Crore
INR 658.4 Crore
Finance Costs
INR 164.0 Crore
INR 169.1 Crore
Depreciation & Amortization
INR 300.5 Crore
INR 225.9 Crore
Other Expenses
INR 3,398.7 Crore
INR 3,220.0 Crore
Total Expenses
INR 14,063.9 Crore
INR 13,864.6 Crore
Total expenses increased by 1.4% in FY24, mainly due to higher raw material and employee costs.
Quick Summary:
Revenue Growth:2.8% increase in FY24, supported by strong sales demand.
Profitability Decline:Net profit fell by 7.8%, despite revenue growth.
Expenses Rise:1.4% increase in expenses, mainly due to higher material and employee costs.
Britannia – Acquisitions
Britannia Industries, India’s largest processed food company, has announced that it has entered into an agreement with Fonterra Brands (Mauritius Holding) Ltd, Mauritius, for acquiring the latter’s 49 per cent Equity and Preference shareholding in Britannia New Zealand Foods Pvt Ltd (BNZF), their Joint Venture Company engaged in Dairy business. This acquisition is subject to Reserve Bank of India approval.
The company and its associates acquired majority stakes in Dubai-based Strategic Foods International LLC and Oman-based Al Sallan Food Industries in March 2007.
Britannia – Competitors
The top 10 competitors in Britannia Industry Limited’s competitive set are:
A businessman from Kerala, Rajan Pillai, secured control of the group in the late 1980s, becoming known in India as the ‘Biscuit Raja’. In 1993, the Wadia Group acquired a stake in Associated Biscuits International (ABIL) and became an equal partner with Groupe Danone in Britannia Industries Limited. It was referred to as India’s most dramatic corporate sagas. Pillai ceded control to Wadia and Danone after a bitter boardroom struggle, then fled his Singapore base to India in 1995 after accusations of defrauding Britannia, and died the same year in Tihar Jail.
Biscuit major Britannia Industries, the star amongst the Indian FMCG pack of late, says generating consumer demand remains the biggest challenge in the new year. FMCG companies in general, reported lacklustre results in recent quarters. But the biscuit maker’s numbers beat expectations, with the Bengaluru-based company’s profit margins at a record high in the last two quarters.
In a separate dispute from the shareholder matters, the company alleged in 2006 that Danone had violated its intellectual property rights in the Tiger brand by registering and using Tiger in several countries (in Indonesia in 1998 and later in Malaysia, Singapore, Pakistan, and Egypt) without its consent. Whilst it was initially reported in December 2006 that agreement had been reached, it was reported in September 2007 that a solution remained elusive. In the meantime, since Danone’s biscuit business has been taken over by Kraft, the Tiger brand of biscuits in Malaysia was renamed Kraft Tiger Biscuits in September 2008.
Britannia Industries is focusing on a region-specific strategy to compete with local players.
“We are ready to adapt our brand, flavors, pricing, and recipes to meet regional demands, which has been a strong advantage for us,” said Varun Berry, vice-chairman and managing director, during an investor call.
Addressing distribution challenges, Berry noted that Britannia lags behind competitors in the rural Hindi belt. The company remains committed to deepening its presence in urban markets while expanding its reach in rural areas.
FAQs
Is Britannia a FMCG company?
Yes, Britannia is a FMCG company and one of the favourite and oldest brands in India.
How many products are in Britannia?
Britannia’s product portfolio includes Biscuits, Bread, Cakes, Rusk, and Dairy products including Cheese, Beverages, Milk and Yoghurt. Its brand portfolio includes Tiger, Marie Gold, Good Day, 50:50, Treat, NutriChoice and Milk Bikis. BIL has a presence in more than 60 countries across the globe.
Britannia company is from which country?
Britannia is an Indian Company with headquarters in Kolkata.
How does Britannia make money?
Britannia company operates in two business segments to make money, namely, bakery products and dairy products.
When was Britannia founded?
Britannia was launched on 16 April 1953.
Who is Britannia founder?
A British businessman C.H. Holmes founded Britannia Biscuit Company in 1918.
Who is Britannia owner?
Wadia group is Britannia company owner.
What is Britannia logo meaning?
The Britannia logo symbolizes British strength and maritime heritage, featuring a helmeted female warrior with a trident and shield. This iconic representation traces its roots back to Roman depictions of Great Britain, reflecting the nation’s rich history and identity.
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More Indians are now booking tickets and hotels online than ever before. Nothing can beat the comfort of being able to plan a trip from the comfort of your home. You can check out the prices and compare them to get the best deal. A company that holds a major share in the Indian online travel industry is MakeMyTrip. Since 2000, MakeMyTrip has helped millions of Indians book railway tickets, airline tickets, bus tickets, reserve hotel rooms, and buy holiday packages.
Founded in 2000 and headquartered in Gurgaon, Haryana, MakeMyTrip is one of the most popular and dependable Indian travel companies that helps the people of India avail of online travel services that include airline tickets, domestic and international holiday packages, and reservations of hotels, railways, and bus tickets.
If you want to know more about the Story of MakeMyTrip India, its Founders and Team, Growth, History, Startup Story, Mission and Vision, Products and Services, and more, then here’s the MakeMyTrip success story.
MakeMyTrip – Company Highlights
Startup Name
MakeMyTrip
Headquarters
Gurgaon, Harayana, India
Sector
Travel, Software Development
Founder
Deep Kalra, Keyur Joshi, Rajesh Magow, Sachin Bhatia
India’s leading online travel company, MakeMyTrip, was founded in 2000 by Deep Kalra, Keyur Joshi, and Sachin Bhatia, and later joined by Rajesh Magow. Headquartered in Gurgaon (Haryana), the company provides online travel services that include flight tickets, domestic and international holiday packages, hotel reservations, and rail and bus tickets.
The research of Statista indicates that the travel and tourism sector is expanding favorably. The projected yearly growth rate between 2023 and 2027 is an outstanding Compound yearly Growth Rate (CAGR) of almost 12.18%, with a projected value of US $31.45 billion by 2027. These figures highlight the industry’s strength and point to a continuing upward trend, indicating tremendous potential for consistent growth and a plethora of opportunities in the Travel and Tourism sector going forward.
MakeMyTrip – Founders and Team
Deep Kalra, Keyur Joshi, Rajesh Magow, and Sachin Bhatia are the co-founders of MakeMyTrip.
Deep Kalra
Deep Kalra, Founder and CEO of MakeMyTrip
The founder of MakeMyTrip, Deep Kalra, was raised in Hyderabad, attended St. Stephen’s College in Delhi for his economics degree, and graduated with an MBA from IIM Ahmedabad in 1992. He left ABN AMRO after three years to work in business development at GE Capital. In the past, he worked with AMF Bowling to bring bowling alleys to India. With the launch of MakeMyTrip in 2000, Kalra revolutionized the Indian travel sector by introducing cutting-edge online services.
As the CEO of MakeMyTrip, Deep Kalra guided the company from its inception till its listing on NASDAQ in August 2010. From August 2013 to February 2020, Kalra functioned as the Group CEO. In February 2020, Deep Kalra stepped down from the post of Group CEO to resume responsibilities as executive chairman of the MakeMyTrip board, while co-founder and current group CEO Rajesh Magow took charge as the Group CEO.
“We believe that separating the roles of Group CEO and Executive Chairman will allow us to focus more on long-term strategic opportunities within and outside India, while maintaining our market-leading position in our existing businesses,” MakeMyTrip owner Deep Kalra commented on his step-down.
Kalra also serves as the vice chairman of Internet and Mobile Association of India. He is one of the founders of Ashoka University and is a part of its governing body. He is also a founding member of “I am Gurgaon”, an NGO.
Rajesh Magow, a co-founder of MakeMyTrip, currently serves as the company group CEO. Magow graduated from the Indian Institute of Chartered Accountants. He began his career with Aptech Ltd. as the Regional Head-ACE North. Afterward, he joined Ebookers as CFO and Head of Financial Services before joining MakeMyTrip as co-founder, CFO, and COO. Magow has held a number of executive positions within the corporation, including those of Group CEO, COO, and CFO.
Keyur Joshi
Keyur Joshi – Founder and COO of MakeMyTrip
Keyur Joshi is the co-founder and Chief Operating Officer (COO) of MakeMyTrip and the Strategic Advisor, roles that he is still serving in the company. Besides this, he is also the co-founder of Wildlife Luxuries (I) Pvt. Ltd. The jumpstart of the online travel market in India can largely be attributed to Joshi.
Before MakeMyTrip, Joshi was involved with Around the World Travel (presently known as JustFares.com), and Tata Motors, where he handled the Market Research and Product Management departments. Keyur has obtained a Bachelor’s degree in Chemistry from Gujarat University. This was again followed by an MBA degree from the City University of New York, New York. Joshi is also a certified pilot!
Apart from the resignation of Sachin Bhatia, who resigned as the co-founder and CMO of the company, the founding team of MakeMyTrip is intact.
MakeMyTrip – Subsidiaries
MakeMyTrip Subsidiaries are Ibibo, Easy to Book Holding B.V., ITC Group, Luxury Tours & Travel Pte Limited, Quest2travel.com India Pvt. Ltd., Hotel Travel Ltd., Travis Internet Private Limited, MakeMyTrip (India) Private Limited, and Makemytrip.com Inc.
MakeMyTrip – Startup Story
MakeMyTrip’s genesis lies in the entrepreneurial spirit of its founder, Deep Kalra. Initially an experienced banker at ABN AMRO Bank, Kalra felt the urge to break away from the monotony of corporate life and explore new avenues. After three years in the banking sector, he sought challenges beyond the confines of a traditional career. This quest led him to join AMF Bowling, which aimed to introduce bowling alleys to India. Despite facing challenges in fundraising and the subsequent failure of this venture, Kalra’s determination to run his own business remained unshaken.
Undeterred by setbacks, Kalra found himself at GE Capital, where he gained valuable insights into the potential of the internet. The realization dawned when he successfully sold his wife’s car online, sparking the idea that the internet could be a powerful platform for his entrepreneurial aspirations. Acknowledging the vast possibilities, he resigned from GE Capital and ventured into the world of online businesses.
The turning point for MakeMyTrip came during Kalra’s research into the tourism sector. Recognizing the inconvenience faced by Indians queuing at ticket counters, he envisioned a solution that would make ticket bookings accessible online. This insight solidified the foundation of MakeMyTrip. While planning a holiday to Thailand, Kalra observed the cost efficiency of direct online bookings and decided to eliminate intermediaries, leading to the official launch of MakeMyTrip in 2000. The platform aimed to simplify ticket bookings and offer competitive prices, marking the beginning of a transformative journey in the online travel industry.
MakeMyTrip – Mission and Vision
MakeMyTrip’s mission is to “provide customers a one-stop-shop for all their travel needs.” It helps the users get optimum user experience across the entire travel journey, which includes “effective planning resources, superior booking experience across all channels, and in-journey 24×7 live customer support.”
At GO-MMT, our vision is to make travel simple and fun for all, and our core values guide us in making this possible. These core values can be seen in the projects that we undertake, and the way in which we solve problems for our customers. They are a representation of OUR BEING & OUR DOING. Each member of the GO-MMT family is guided by them, each and every day, says the company website while stating its vision and values.
MakeMyTrip – Name, Tagline, and Logo
MakeMyTrip’s tagline is “Dil toh roaming hai”, which the company announced in April 2017.
MakeMyTrip Logo
MakeMyTrip – Business Model
MakeMyTrip lets users book air tickets and bus tickets, buy holiday packages, book hotel accommodations, and hire vehicles. Users can also access other travel-related services, like visa processing and travel insurance, that are provided by third-party vendors. All of these services are available through MakeMyTrip’s app, website, or through MakeMyTrip-owned and franchisee-owned stores.
Besides this B2C model, MakeMyTrip India has also introduced MyBiz to offer various corporate travel-related services. MyBiz lets businesses easily manage the travel and accommodation of their employees through various features, such as a single dashboard, MyBiz wallet for central payment processing, and instant refunds to myBiz Wallet on cancellations.
MakeMyTrip’s revenue model combines traditional and innovative elements, with a focus on strategic air ticket sales contributing 35% to the total revenue. Complementing this, hotels and holiday packages constitute a substantial around 50% of earnings. The transport segment, led by Red Bus, adds 10%, growing at an impressive 35% annually. MakeMyTrip has expanded its revenue streams by partnering with IRCTC for rail tickets and introducing weekend travel, activities, and events.
Domestic travel takes center stage in revenue generation, with 60% of air ticket revenue and 85–90% of hotel business revenue attributed to domestic travel. This highlights MakeMyTrip’s adaptability to regional preferences and solidifies its position as a comprehensive travel solution.
MakeMyTrip Limited is an Indian online travel company founded in 2000. It’s services include air ticketing, hotel and alternative accommodations bookings, holiday planning and packaging, rail ticketing, inter-city bus ticketing, car hire, and ancillary travel requirements such as facilitating access to third-party travel insurance and visa processing.
The company is the industry leader in India’s travel sector thanks to its continuous innovation culture and “customer first” strategic focus. This puts it in a unique position to accelerate the online presence of hotels and other lodgings that are largely offline.
MakeMyTrip employs a sizable number of data scientists in their workforce. It makes considerable use of chatbots: Myra for MakeMyTrip and Gia for Goibibo. These chatbots assist with most post-sale inquiries.
MakeMyTrip – Challenges Faced
“The meltdown of dotcom, the exit of venture capital from India, and the 9/11 attacks. By mid-2001, MakeMyTrip were hit by this triple whammy. The next couple of years were the toughest — there were no investors in sight and the company had to shrink the team. But those tough times helped bind the team together. It’s been an incredible journey and the team are thrilled for the possibilities that lie ahead.” said Deep Kalra Founder.
MakeMyTrip celebrated turning 20 in 2020, marking 20 years of assisting customers with travel arrangements. Unfortunately, the worldwide pandemic made it happen during a difficult period. For everyone, traveling was challenging due to the coronavirus. MakeMyTrip used its knowledge to adapt and come up with new ways to assist travelers in spite of this obstacle. The business demonstrated that it could overcome obstacles and remain a leader in the travel sector even in the face of this challenging circumstance.
MakeMyTrip – Funding and Investors
MakeMyTrip has raised $748 mn in over 6 rounds of funding.
Here are the funding details:
DATE
STAGE
AMOUNT
INVESTORS
February 6, 2021
Post-IPO Debt
$200 mn
–
May 3, 2017
Post-IPO Equity
$330 mn
–
January 8, 2016
Post-IPO Equity
$180 mn
Trip.com
October 8, 2007
Series C
$15 mn
Tiger Fund
December 14, 2006
Series B
$13 mn
Helion Venture Partners, Sierra Ventures
May 1, 2005
Series A
$10 mn
Tiger Fund
MakeMyTrip – Investments
MakeMyTrip has made 7 investments to date. Here’s all of them below:
DATE
NAME OF THE COMPANY
INVESTMENT ROUND
LEAD INVESTOR
February 29, 2020
ibibo Group
Venture Round
Yes
September 24, 2019
PasajeBus.com
Series A
Yes
July 26, 2018
Bitla Software Pvt. Ltd.
Venture Round
Yes
September 6, 2017
GoFro
Series B
Yes
July 20, 2015
HolidayIQ
Series B
Yes
June 25, 2015
Inspirock
Seed Round
–
August 11, 2011
ixigo
Series A
–
MakeMyTrip Exit
It has exited from two companies, ibibo Group and Inspirock.
MakeMyTrip – Mergers and Acquisitions
MakeMyTrip has made 5 acquisitions to date.
The MakeMyTrip fintech arm TripMoney has acquired BookMyForex, an online foreign exchange service provider in India, on April 5, 2022, through the acquisition of the majority of the stakes in the company.
Here’s a look at the list of the companies that MakeMyTrip has acquired:
COMPANY ACQUIRED
DATE OF ACQUISITION
AMOUNT
Quest2Travel
May 1, 2019
–
ibibo Group
October 18, 2016
$720 mn
Mygola
April 23, 2015
–
Easytobook.com
February 6, 2014
$5 mn
HotelTravel.com
November 19, 2012
$25 mn
Some other investments and acquisitions that MakeMyTrip has made during its journey till now are:
In August 2011, MakeMyTrip (MMT), along with private equity firm Saif Partners, acquired majority stakes in Travenues Technology Private Limited, which owns Ixigo.com. In November 2011, MMT invested in ‘My Guest House Accommodation’, a budget lodging and hotel operator.
In September 2014, the company instituted a $15 mn innovation fund to support early-stage companies in the travel space. It also acquired MyGola, a travel planning website, in April 2015. The acquisition was done through the innovation fund, and as part of the acquisition, all employees of MyGola were absorbed into the MakeMyTrip team.
In June 2015, MakeMyTrip acquired an 18% stake in travel planning startup Inspirock. In July 2015, it invested in travel information and hotel review portal HolidayIQ to pick up an approximately 30% stake in the latter. In the same month, it also invested $5 mn in BonaVita Technologies, a startup that plans to utilize the funds to build innovative products in the travel industry.
MakeMyTrip – Growth
Starting its journey at the start of the millennium, MakeMyTrip has entirely transformed the ways of travel and bookings and has made the whole process fast, easy, and hassle-free not only for its customers but for the whole country in general. Some of the major growth insights of the company are:
As of June 2023, MakeMyTrip had 146 active franchisees operating in more than 100 cities
It has covered 2,000 cities via hotels
It also has international offices based in Dubai, Kuala Lumpur, Bangkok, New York, Singapore, Phuket, and Istanbul
MakeMyTrip has 68 mn+ monthly active users as per its website
It has 69 mn+ lifetime transacted users
In the post-pandemic world, the company also claims to help the users get 100% refund on their cancellations
MakeMyTrip – Financials
MakeMyTrip has shown strong revenue growth in recent years, with a sharp turnaround to profitability in FY24.
Particulars
FY24
FY23
FY22
FY21
FY20
Revenue
INR 5,490.4 Cr
INR 4,062.2 Cr
INR 2,034.1 Cr
INR 848.1 Cr
INR 3,160.7 Cr
Expenses
INR 4,863.9 Cr
INR 3,975 Cr
INR 2,097 Cr
INR 1,053.1 Cr
INR 3,593.6 Cr
Profit/Loss
INR 626.5 Cr
INR 87.1 Cr
INR -62.8 Cr
INR -205 Cr
INR -432.9 Cr
MakeMyTrip Financials
In FY24, MakeMyTrip’s revenue increased by 35% from INR 4,062.2 Cr in FY23 to INR 5,490.4 Cr, while expenses also increased to INR 4,863.9 Cr. The company reported a profit before tax of INR 626.5 Cr, a huge jump from INR 87.1 Cr in FY23.
MakeMyTrip Revenue:
Revenue Source
FY24
FY23
Revenue from Operations
INR 5,336.1 Cr
INR 4,006.5 Cr
Other Income
INR 154.3 Cr
INR 55.7 Cr
Revenue from operations grew by 33%, reaching INR 5,336.1 Cr in FY24 compared to INR 4,006.5 Cr in FY23. Other income saw a massive increase from INR 55.7 Cr to INR 154.3 Cr.
MakeMyTrip Expenses:
Expense Type
FY24
FY23
Employee Benefit Expense
INR 883.3 Cr
INR 781.8 Cr
Finance Costs
INR 63.2 Cr
INR 101.7 Cr
Other Expenses
INR 3,917.4 Cr
INR 3,000.2 Cr
Total expenses increased by 22%, rising from INR 3,975 Cr in FY23 to INR 4,863.9 Cr in FY24. Employee costs increased, while finance costs decreased from INR 101.7 Cr to INR 63.2 Cr, showing better financial management.
MakeMyTrip Profit/Loss:
MakeMyTrip achieved a huge jump in profitability, with net profit surging from INR 80.1 Cr in FY23 to INR 1,569.7 Cr in FY24, reflecting strong revenue growth and cost efficiency.
Quick Summary:
Revenue: Grew 35% from INR 4,062.2 Cr (FY23) to INR 5,490.4 Cr (FY24).
Expenses: Increased 22%, mainly due to higher operating costs.
Profit: Massive jump from INR 80.1 Cr in FY23 to INR 1,569.7 Cr in FY24, showing strong financial turnaround.
MakeMyTrip – Partnerships
MakeMyTrip, in its 20+ year-long journey, has witnessed numerous partnerships with a whole lot of brands. Here’s a glimpse into some of the most important collaborations that MakeMyTrip has witnessed in recent years:
The Indian travel company led by Rajesh Magow was all set to partner with the Ministry of Civil Aviation, as per reports dated November 22, 2021. With this partnership, the popular travel and tourism company was about to ensure the promotion of regional air connectivity via the UDAN scheme. The company planned to power the UDAN flights on the AIRSewa portal and to market the same on its platform as well in order to promote its products and increase visibility and product discovery.
MakeMyTrip has partnered with IndiGo to launch exclusive charter flights between Mumbai and Phuket in Thailand. The announcement came in on November 10, 2021, where MakeMyTrip, as part of the deal, will ensure end-to-end service assistance, including airport transfers, early check-in and check-out, certificate of entry assistance, premium properties, and more.
The company entered into a strategic partnership with AmazonPay to offer all-inclusive travel services to Amazon customers that will be enabled by MakeMyTrip and Redbus. This partnership was announced on November 1, 2021.
The Indian travel major collaborated with Hopper, a leading AI-based travel booking app, on October 14, 2021, which was aimed to help the customers save money with personalized and flexible bookings.
MakeMyTrip – Advertisements and Social Media Campaigns
Ranveer Singh and Alia Bhatt are the brand ambassadors of the MakeMyTrip company, whom the company roped in on February 17, 2016.
MakeMyTrip | Top-Rated International Hotels Loved by Indians!
MakeMyTrip, an online travel company, has launched a funny new campaign that highlights real travel problems. This three-film campaign focuses on International Hotels, Homestays & Villas, and Domestic Hotels. Using relatable situations, it turns common travel frustrations into entertaining stories. Featuring Bollywood stars Alia Bhatt and Ranveer Singh, the campaign shows how MakeMyTrip helps travelers easily find the best places to stay—both in India and abroad.
MakeMyTrip – Awards and Achievements
The list of accolades received by the company is quite long. Here are some of them:
Great Manager Awards – Companies with Great Manager Award 2022.
Economic Times – Future Ready Organization Award 2022.
ET Human Capital Awards – Most Inclusive Companies Index Exemplar 2022.
Most Inclusive Company Index Study – 100 Best Companies For Women – 2022.
Best Travel Innovator – Travel Distribution World Asia Awards (2012).
Singapore Airlines – Top agents award (2010-2011); Top Passenger Agent (2007-08).
Malaysia airlines – Top Agent Award (2007); Top agent award (2009); Top agent award (2010).
Cathay Pacific – Outstanding performance in (2009); Outstanding Performance (2007).
Air Mauritius – All India Top Ten Agent/Top North India Sales Award (2007-08); All India Top Ten Agent/Top North India Sales Award (2006-07).
British Airways – Outstanding Revenue Contribution (2007-08).
Lufthansa – Outstanding Performance (2006-07).
Indian Airlines – Achieving Highest Domestic Passenger Sales (2006-07).
MakeMyTrip plans to become a one-stop travel app by offering many travel services in one place. It will use AI and data to give users a more personalized experience. The company also wants to expand worldwide and grow in religious tourism, which is becoming more popular.
FAQs
What is Make My Trip?
MakeMyTrip is an online travel company founded by Deep Kalra, Keyur Joshi, and Sachin Bhatia in 2000, who were later joined by Rajesh Magow. The company is headquartered in Gurugram, Haryana and offers online travel services including domestic and international holiday packages, hotel reservations, rail, bus and flight tickets.
Who is MakeMyTrip founder?
Rajesh Magow is the co-founder and Group CEO of MakeMyTrip. Rajesh joined Deep Kalra, Keyur Joshi and Sachin Bhatia, the founders of MakeMyTrip, in 2006.
What are the names of MakeMyTrip subsidiaries?
MakeMyTrip Subsidiaries are Ibibo, Easy to Book Holding B.V., ITC Group, Luxury Tours & Travel Pte Limited, Quest2travel.com India Pvt. Ltd., Hotel Travel Ltd., Travis Internet Private Limited, MakeMyTrip (India) Private Limited, and Makemytrip.com Inc.
Which is MakeMyTrip origin country?
MakeMyTrip Limited is an Indian online travel company founded in 2000.
Who owns MakeMyTrip?
MakeMyTrip is owned by MakeMyTrip Limited, a publicly traded company listed on the NASDAQ stock exchange under the ticker MMYT. It was founded by Deep Kalra in 2000. The company’s major shareholders include institutional investors, with Ctrip (now Trip.com Group), a Chinese travel services company, being a significant stakeholder.
When was MakeMyTrip founded?
MakeMyTrip was founded in 2000 by Deep Kalra, Keyur Joshi, Rajesh Magow, and Sachin Bhatia.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations.
Investing a decade ago entailed a lot of paperwork, many bank visits, long queues, and application processing that used to take days. When you add in a dearth of knowledge about financial products and widespread misselling by agents, the experience becomes nothing short of a nightmare.
These days, all you need is a bank account, some disposable income, and a smartphone to begin investing, increasing, and managing your wealth. Though some of the new investors are starting with mutual funds, equities, and other investment platforms, many of the investment-averse citizens were also noticed to step out from it altogether. However, with the emergence of Groww, the investment industry, it seems, has witnessed a laudable disruption with the easy ways of investing money with stockbroking and direct mutual funds that the platform has encouraged.
Here is the Success Story of Groww, an organization that has made investing simple for millions of Indians. Know more about the Founder and History, Startup Story, Mission and Vision, Products, Business model, Revenue and Growth, Funding and Investors, Acquisitions, Awards, Competitors of the Company, Challenges Faced, and other details ahead!
Groww – Company Highlights
Startup Name
Groww
Owner
Nextbillion Technology
Headquarters
Bangalore, Karnataka, India
Industry
Financial technology, Investment, Mutual Funds
Founders
Lalit Keshre (CEO), Harsh Jain, Neeraj Singh and Ishan Bansal
Founded
April 2016
Valuation
Approximately less than $2 billion (November 2024)
Groww is a web-based investment platform that allows users to invest in mutual funds and equities directly. The company is a creator of a mutual fund direct access platform. Groww’s technology is aimed to make investing simple, accessible, transparent, and fully paperless, allowing customers to invest in mutual funds without any difficulties.
Groww users can invest in mutual funds through SIPs and equity-linked savings. According to the company, it has over 1.5 crore registered users; the majority of them are under the age of 40 and prefer to use their phones. It offers over 5,000 mutual funds that can be invested directly through its website and app, which is available on iOS and Android.
It features a straightforward pricing structure that includes cheap trading fees. You can invest in a mutual fund for free with no hidden fees. Groww does not charge an account opening fee or a monthly maintenance cost. Moreover, with Groww’s direct mutual fund plan, you can also earn an additional 1.5%.
Groww offers E-books, Resources, and Blogs that provide stock market essentials and updates to assist investors in making better decisions. One can open a paperless account immediately and very easily. If you want to participate in the primary market, you can submit an online IPO application. A Brokerage Calculator is included in the software.
Groww, which was founded in 2016 by 4 former Flipkart employees Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal, aim to make investment more accessible to young people by simplifying the process. The DIY (Do It Yourself) model, in which individual investors establish and manage their own investment portfolios, is preferred by most millennials.
Lalit Keshre
Lalit Keshre is the Co-founder and CEO of Groww. Keshre was a Btech, Electrical Engineering student in microelectronics from IIT Bombay. He looked after the Product and Engineering of the IITiam Systems. After completing his graduation, Lalit founded Eduflix. He eventually joined Flipkart, where he was in the Product department and served for a little less than 3 years before founding Groww in May 2016.
Harsh Jain
Popularly known as the Co-founder and COO of Groww, Harsh Jain was an IIT Delhi student from where he completed his Master of Technology in Information and Communication Technology. Jain also has an MBA in Product Management and Marketing Technology from the UCLA Anderson School of Management.
Ishan Bansal
Ishan Bansal is another Co-founder of the company. Bansal was a student of BITS, Pilani, from where he completed his BTech in Mechanical Engineering. He has been a Charter Holder from the CFA Institute. Bansal also has an MBA degree in Finance from XLRI Jamshedpur. Ishan Bansal started his career in ICICI Securities. He eventually left the company and joined Naspers Limited as a Manager. Flipkart was the next company that he joined where he was in Corporate Development. After his brief stint with Flipkart, Ishan opted to co-found Groww.
Neeraj Singh
Neeraj Singh is known as the Co-founder and CTO of Groww. Neeraj has a Bachelor’s in Information Technology from ITM University, Gwalior. He then opted for a Post Graduate Diploma in Advance Computing from C-Dac. Singh initially joined JDA Software as a Software Engineer and then opted for Ivy Computech as his company which he started as a Senior Software Engineer. He eventually joined Flipkart in the SDE department and eventually decided to co-found Groww with the other founders.
Groww – Startup Story
The founders of the company witnessed the change in the e-commerce market during their time at Flipkart and realized that investment was the next big opportunity. The e-commerce boom signaled an increase in average income and technology savvy, and it was at this point that the founders realized that individuals indeed have discretionary cash and will need assistance in putting it to good use.
When the founding team started investigating Indian financial options for interested consumers, they spent a lot of time learning about the market and identifying the users’ basic pain concerns. They have to conduct numerous tests to determine the best user experience. Furthermore, the users’ hard-earned money was on the line. This is why they needed to deliver a safe and secure solution, which required some time to develop.
Groww app began as a direct mutual fund distribution platform in 2016 and has since grown to become one of the country’s most popular mutual fund investing platforms. Groww added equities in the early part of 2020 in response to customer demand, and the following year, it launched digital gold, ETFs, intraday trading, and IPOs in rapid succession.
Groww is a Bangalore-based brokerage firm that offers online discount brokerage services for a single charge. Groww can help you invest in stocks, IPOs, and mutual funds directly. Nextbillion Technology Private Limited, a SEBI-registered brokerage, is known as Groww. NSE and BSE both have NTPL as a member.
In India, there are about 200 million people with disposable income, but only about 20 million actively invest. Groww’s goal was to provide consumers with the information, resources, and customer engagement they needed to get started with investing as quickly as possible.
The company’s mission is to give investors the greatest experience possible when it comes to managing their money.
Lalit Keshre, Co-founder and CEO, Groww, said – “Over the last few years, we have made investing in mutual funds and stocks simple and transparent for millions of investors in India. If we look at the opportunity that lies ahead, it still feels like Day 1. We started our journey with small steps writing blogs and making videos to educate people about investing. Our wealth as a nation will keep growing, and our mission is to provide the best experience for investors to manage their wealth. We are happy to partner with investors who believe in our long-term vision.”
Groww – Name, Logo and Tagline
The Groww logo consists of a circle of two colors: Green and Blue. The logo depicts an increasing graph.
Groww Logo
‘There’s just one right way,’ says the company’s tagline. The main goal of the company is to make the investing process as simple as possible for their clients. Investors can choose from a variety of mutual funds, and they can also invest in a variety of schemes with varying market capitalizations.
Groww – Products
The list of the products of Groww include :
Stocks
Mutual Funds
Digital Gold
US stocks
Groww – How to Select the Best Mutual Funds for Beginners
Groww – Business Model
Groww app operates as a commission-free platform, charging flat-fee brokerage on equity and F&O trades, along with regulatory charges like STT, stamp duty, exchange transaction charges, and DP charges. For US stocks, there are no account opening or maintenance fees, but charges apply for forex conversion and exchange fees. Revenue sources include brokerage, interest on deposits, and potential future subscription fees for premium offerings and advisory services.
Groww company charges a tiny fee, however, it is paid by the mutual fund firm, not by the client. They profit from the funds they sell, but it’s a complicated process.
To begin, there are two types of mutual fund investments: regular and direct. In the ordinary mode, a distributor appears, and you must pay the distributor a commission. The commission is calculated in such a way that it compensates you for your investment and profits.
Apps like Groww, on the other hand, give consumers a direct investing opportunity by combining different funds and companies into a single platform, thereby extending a wide range of possibilities.
For a fintech company like Groww, the first thing to keep in mind is to expand the customer base. Groww leverages technology to reach the proper target audience, which lowers its operating costs. People rarely switch between these types of applications. As a result, once the correct customer base has been established, they are likely to stick with you for the long haul.
Groww allows users to invest in mutual funds and equities from anywhere in the world, thanks to its high level of technology. With just a few mouse clicks, you can become the owner of a specific stock or mutual fund.
Groww company recently moved its parent entity back to India from the US, resulting in a reduced fair market valuation of under $2 billion.
In FY24, Groww reported a revenue of INR 3,145 crore, marking a 119% increase from INR 1,435 crore in FY23. Revenue in previous years stood at INR 351 crore in FY22, INR 283.5 crore in FY21, and INR 55.44 crore in FY20, showcasing significant growth over time. Expenses in FY23 were INR 932.9 crore, up from INR 663.6 crore in FY22. The company recorded a net loss of INR 805 crore in FY24, primarily due to a one-time tax expense, contrasting with a profit of INR 448.7 crore in FY23. In FY22, Groww reported a net loss of INR 239 crore.
The company has enhanced its Broking app by introducing the ‘Pay’ feature, enabling users to engage in peer-to-peer transactions and make payments to merchants effortlessly by scanning QR codes.
Groww Launched Intraday Trading and ETFs
Groww is hailed as a platform that is trusted by more than 30 million users. It is a customer-first company that brings ease and trust to the users while investing in Mutual funds, FDs, Stocks, Futures and Options, IPOs, and more. Groww had equities and then launched Intraday Trading and ETFs, expanding their product suite. With the launch of these products that cater to two diverse niches within the investing spectrum, Groww aims to provide a gamut of investment options to millennial investors with varied investment objectives. With intraday trading now enabled on 350+ stocks and select ETFs on Groww, investors can short-sell, place a stop-loss order, and track price movements through candlestick charts within just a few clicks.
On the other hand, ETFs as an asset class can be explored by users who are inclined towards passive investment instruments. With Groww, investors can check all information related to ETFs, such as expense ratio, fund manager details, and scheme objectives, as well as track the live price of the underlying securities on the go.
Groww launched Intraday Trading at a time when stock trading was gaining unprecedented popularity amongst Indians, especially young millennials. CDSL reported that the number of demat accounts with CDSL crossed 25 million only in the previous month, registering a 25% increase against the pre-lockdown numbers. Moreover, since March 2020, mobile trades have more than tripled, as reported in September 2020, according to BSE’s trading data.
Speaking on the launch, Lalit Keshre, Co-founder and CEO, Groww said, “The launch of intraday trading and ETFs on our platform is in line with our promise to provide our customers with all kinds of investment options on a single platform. We already have all the direct mutual funds and gold available on the platform. In the days to come, we will keep adding more features to provide an all-encompassing investing experience”.
Groww also plans to follow this launch with a series of learning modules aimed at educating its investors about the intricacies of intraday trading and ETFs. The company launched stock investing on its platform in June 2020 and has recorded more than 4.5 Lakh Demat accounts within a short span, thereby becoming one of the fastest-growing discount brokers in the country. Currently in invite-only mode, customers will soon be able to invest in US equities on the Groww app as well.
Some other growth insights of the brand can be compiled as:
Groww brags about having 30+ million registered users
The platform has nearly $400 million in investment
Groww is a one-of-a-kind startup that recorded over a 10X jump (from $250-300 million to $3 billion) in valuation in a little over a year in India.
The nearest rival of Groww is Upstox, which recently raised a new round at around a $3.4 billion valuation
It is a worthy competitor of Zerodha
Groww had 6.63 million active clients, approximately 150,000 or 2.3% more than Zerodha at the end of September 2023, breaking the latter’s lengthy reign at the top.
Groww will Foray into the Neobanking Segment
The company is currently looking to foray into the new banking space with a new neo-banking platform that it will likely launch soon. According to one of the sources close to Groww, the company believes that being a neo-banking company will further make it holistic for the users, which want to emerge as a one-stop solution for banking and investment.
Groww to Launch its Lending Arm
Groww is also looking to foray into lending and is in final talks for the launch of another vertical to its offerings, which would be lending, as per the reports dated January 14, 2021. The company will offer credit lines to some users after selecting them based on their transaction histories as per the mobile app usage, which Groww has already started to do. This step might prove to play a great role in multiplying the revenues of Groww, which aren’t that noteworthy so far.
Groww Launched Ab Karega Invest
A growing number of investors from tier-II cities are now taking to investing through online platforms. The company will host conferences in selected Indian cities to make investing simple and accessible.Groww, a leading investment platform, stated that 60% of users registered with them hail from tier 2 and tier 3 cities. In light of this, Groww has launched a one-of-a-kind financial education initiative, “ Ab India Karega Invest”, to bridge investors’ knowledge gap. As per the initiative, the Groww team will tour 52 select cities in 52 weeks and conduct conferences to explain the nuances of investing. The city meets are focused on creating a knowledge-sharing platform for industry players and aspiring investors as well as fostering local investor communities.
As a pilot campaign, Groww previously held meets in Lucknow, Jaipur, and Patna, and the overwhelming reception led to the extension of the campaign PAN India. On the occasion of the launch, Lalit Keshre, Co-founder and CEO of Groww, said, “The penetration of financial services in India is really low beyond metros. Groww is making investing accessible to millions of people in India with a sharp focus on customer experience. For us, there are no boundaries. This program helps us in multiple ways, but the biggest one is to closely engage with aspiring investors spread across these cities in India”.
Groww Receives SEBI Approval
Groww has announced that the startup has received approval from SEBI for the Groww Nifty Total Market Index Fund. This development follows Groww’s strategic move earlier this year when it acquired the mutual fund business of Indiabulls Housing Finance, paving the way for its foray into the mutual fund market. As the competition in India’s mutual fund space intensifies, with formidable players like Groww’s rival Zerodha and Jio Financial Services poised to enter the sector, the landscape is becoming increasingly dynamic.
Groww Gets RBI Licence to Operate as Online Payments Operator
Groww successfully secured an online payment aggregator license from the RBI on April 29, 2024. This license permits the financial services firm to conduct e-commerce transactions via its UPI app, Groww Pay. Notably, Groww has been strategically expanding into the credit and payments space over the past two years to cater to both existing traders and new users. RBI’s regulation of offline payment aggregators marks a regulatory shift, affecting face-to-face transactions via PoS machines and QR codes.
Groww – Financials
In FY24, Groww reported a revenue of INR 3,145 crore, a 119% increase from INR 1,435 crore in FY23. However, a one-time tax expense led to a net loss of INR 805 crore in FY24 compared to a profit of INR 448.7 crore in FY23.
Particulars
FY24
FY23
FY22
FY21
FY20
Revenue
INR 3,145 crore
INR 1,435 crore
INR 351 crore
INR 283.5 crore
INR 55.44 crore
Expenses
—
INR 932.9 crore
INR 663.6 crore
—
—
Net Profit/Loss
INR -805 crore
INR 448.7 crore
INR -239 crore
—
—
Groww Revenue Breakdown:
Revenue Source
FY24
FY23
Total Revenue
INR 3,145 crore
INR 1,435 crore
Operational Profitability
INR 535 crore
INR 458 crore
Groww’s revenue jumped from INR 1,435 crore in FY23 to INR 3,145 crore in FY24, reflecting strong business expansion. Operational profitability increased from INR 458 crore in FY23 to INR 535 crore in FY24.
Groww Expenses:
Expense Category
FY23
FY22
Total Expenses
INR 932.9 crore
INR 663.6 crore
Employee Benefits
INR 287 crore
INR 230 crore
Total expenses increased from INR 663.6 crore in FY22 to INR 932.9 crore in FY23, mainly due to higher employee benefit expenses, which rose to INR 287 crore in FY23 from INR 230 crore in FY22.
Groww Profit/Loss:
Groww recorded a net loss of INR 805 crore in FY24 due to a one-time tax expense from its domicile shift, in contrast to a net profit of INR 448.7 crore in FY23.
Quick Summary:
Revenue Growth: Grew from INR 1,435 crore in FY23 to INR 3,145 crore in FY24 (+119%).
Operational Profitability: Increased from INR 458 crore in FY23 to INR 535 crore in FY24.
Net Profit/Loss Impact: Due to a one-time tax expense of INR 1,340 crore, Groww reported a net loss of INR 805 crore in FY24, after recording a profit of INR 448.7 crore in FY23.
Expense Increase: Total expenses rose from INR 663.6 crore in FY22 to INR 932.9 crore in FY23, with employee costs being a major contributor.
Groww has raised around $418 million over 7 funding rounds that the company has seen to date. The company recently raised around $25 million in its Series E funding round on March 5, 2023.
Here’s a glimpse of the funding rounds of Groww:
Date
Round
Amount
Lead Investors
March 5, 2023
Series E
$25 million
–
October 24, 2021
Series E
$251 million
Iconiq Growth
Apr 7, 2021
Series D
$83 million
Tiger Global Management
Sep 10, 2020
Series C
$30 million
Y Combinator Continuity Fund
Sep 18, 2019
Series B
$21.4 million
Ribbit Capital
Jan 23, 2019
Series A
$6.2 million
Sequoia Capital India
Jul 9, 2018
Seed Round
$1.6 million
–
Groww – Acquisitions
To date, Groww has acquired only one other mutual fund business, which is Indiabulls AMC. Groww acquired Indiabulls Mutual Fund for INR 175 crore, which includes cash equivalents of INR 100 crore. Groww will be one of the first fintech firms to join the 37 trillion-dollar asset management market as a result of this purchase.
Acquiree Name
About Acquiree
Date
Amount
Indiabulls AMC
Indiabulls AMC is a mutual fund company provides different types of mutual funds, tax saving investments, SIP investments, SIP calculators.
May 11, 2021
$22.99M
Groww acquired a minority stake in the SaaS startup Digio as part of its strategic investment on January 2, 2023.
Groww – Advisors and Mentors
Groww gets Satya Nadella, CEO of the second most valuable company, Google, as its investor and advisor. Groww Co-founder and CEO Lalit Keshre is thrilled about this development and has not missed posting it on Linkedin.
Groww gets one of the world’s best CEOs as an investor and advisor.
Thrilled to have @satyanadella join us in our mission to make financial services accessible in India.
Upstox- They offer nearly identical services and a similar brokerage framework
5paisa- They offer the same services as 5paisa, but their cost is different because they offer zero brokerage trading. 5paisa offers superior service and charges a reduced brokerage fee (INR.10 per order flat)
Flyers- In this situation, the services and pricing structure are the same as those of Zerodha. They do, however, give an API that is completely free.
Angel Broking offers similar services but with a much bigger profit margin.
The industry has risen at a pace of 12.5% per year over the last ten years, which is more than double the world growth rate. However, India’s mutual fund asset base as a percentage of GDP is only 11%, compared to the world average of 62% this year. Individual investor demographic data suggests that 48% of somewhat older millennials (aged 29-37) participate in equities, whereas only 4% of the young generation (aged 22-28) do so.
Due to the perceived complexity and the need to have advisors on hand at all times to navigate the dangers, as well as the dread of the hazards, young or first-time investors are hesitant to enter the market. The challenge, according to the founder, was to not only alleviate these concerns but also to educate them. Here’s where digital services like PhonePe, GPay, Paytm, and others have made a huge difference by combining a simple user interface with interactive instructional content.
Groww clearly displays a variety of goods to potential investors, together with the corresponding risk level and historical performance. It also provides consumers with a comprehensive summary of all mutual fund facts, which helps to educate them.
Groww – Future Plans
Groww’s IPO may materialize “somewhere down the line,” hinted co-founder and CEO Lalit Keshre during an event in New Delhi in October 2024. While he acknowledged the possibility, he refrained from providing a specific timeline, stating, “Maybe in some time. It’s somewhere down the line, but we don’t know when.”
With India’s IPO market thriving, numerous companies are growing the nation’s strong economic growth to go public.
FAQs
What does Groww do?
Groww is an online investment platform that allows users to invest in mutual funds and equities directly. The company is a creator of a mutual fund direct access platform.
What is Groww launch date?
Groww app was launched in April 2016.
What is Groww business model?
Groww app operates as a commission-free platform, charging flat-fee brokerage on equity and F&O trades.
What is Groww tagline?
There’s just one right way, is Groww tagline.
When was Groww founded?
Groww was founded in 2016 by 4 former Flipkart employees: Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal.
Which companies do Groww compete with?
The top competitors of Groww are Upstox, Zerodha, Upstox, IIFL, Finvasia, Angel Broking, SAS Online, Sharekhan, Edelweiss, and Karvy Stock Broking.
What are the Groww app charges?
Groww offers accounts for mutual fund investments with zero transaction charges, no redemption charges, or any other hidden charges. Furthermore, it also offers free account opening facilities that requires zero maintenance charges.
From a simple bill discounting business and with a mere banking license, he advanced to become the founder of the Kotak Mahindra Bank, which is among the leading financial institutions in India today. His ability to recognise the areas that have the potential to change the face of businesses and convert them into value-creating business ventures puts him in a league of his own when it comes to the most celebrated Indian business gurus. Starting with a seed capital of less than $80000, Kotak has managed to raise assets of over $6.8 billion—a story that must be told and read.
In this StartupTalky biography, we will discuss Uday Kotak’s key achievements, challenges, and ideas that defined his path to starting one of the largest private banks in India.
Uday Kotak – Biography
Name
Uday Suresh Kotak
Born
March 15, 1959
Birthplace
Mumbai
Age
65 years
Education
Hindi Vidya Bhavan, Mumbai Sydenham College, Mumbai Jamnalal Bajaj Institute of Management Studies, Mumbai
Uday Suresh Kotak was born on March 15, 1995, into an upper-middle-class Gujarati-Lohana family. His family has long been involved in cotton trading, which helped him gain entrepreneurial and financial understanding early in his life. Uday Kotak’s upbringing balanced capitalism at work and socialism at home, as he had a joint family consisting of 60 members under one roof.
Uday Kotak has always been interested in mathematics and analytical thinking. Moreover, his passion for numbers was complemented by his interest in cricket and music, as he used to play sitar during his early school days. Cricket has always excited him more than music, and he admitted to leaving Sitar behind cricket when he grew up.
Uday Kotak laid the foundation of his career in finance after receiving a degree in commerce from Syndham College. He was committed to gaining deep insights into business and therefore joined the Jamnal Bajaj Institute of Management Studies to pursue his postgraduate in management studies. During his college days, Uday Kotak was able to hone his skills while shaping his vision to provide revolutionary banking and financial services.
This solid educational foundation of Uday Kotak laid the groundwork for his remarkable journey in the financial services industry, establishing him as one of India’s most respected bankers.
Uday Kotak – Career
It takes a visionary leader and an entrepreneur to build an organisation from the ground up, and that is exactly what Uday Kotak did. Following his MBA, Uday Kotak embarked on an ambitious journey by founding Kotak Capital Management Finance Ltd. in 1985, which transformed into Kotak Mahindra Finance Ltd.
Starting from a seed capital of less than $80,000 borrowed from families and friends, he transformed a simple bill-discounting business into a financial service giant. As of March 2022, Kotak Mahindra Bank has assets of more than $68 billion and is among the top three largest private sector banks in India in terms of market capitalisation with a strong network of over 1752 branches.
One of the biggest strengths of Uday Kotak has been his ability to foresee growth avenues. He continued to venture into unknown territories, from becoming the first to introduce car financing services to partnering with some of the leading international companies. One of the most significant events was the acquisition of ING Vysya Bank by Kotak Mahindra Bank in 2014 for $2.4 billion, which not only raised the market value of the bank by almost twofold but also established a strong foothold for the bank in the Indian financial system.
During his tenure, the Kotak Mahindra Bank forayed into various segments, including general insurance in the same year, as well as a small payments bank in partnership with Bharti Airtel. These strategic moves not only helped the bank to develop new services and widen its range of products but also contributed to the bank’s flexibility in the constantly developing financial environment.
Uday Kotak was able to cut his stake in the bank to 30% as per the regulatory norms, proving that he is willing to follow the rules and regulations to ensure sustainable growth of the company. His corporate achievements are supplemented by the fact that he is one of the highest-paid banking CEOs in India, earning INR 27 lakh ($32,000) monthly as of 2019.
In addition to his corporate accomplishments, Uday Kotak also has an impact on industry leadership. He was the President of the Confederation of Indian Industry (CII) for the year 2020-21 and was actively supporting the structural changes in the economy and industries.
In March 2023, he again strengthened Kotak’s presence in the asset management division by integrating Kotak’s alternate fund management and investment advisory divisions into Kotak Alternate Asset Managers (KAAM). KAAM is a firm that manages $18 billion in assets, making it the largest alternate asset management firm in India.
The journey of Uday Kotak from a small-scale businessman to the founder of Kotak Mahindra Bank Limited and changing the banking landscape of India is a classic case of hard work, innovation, and determination.
Uday Kotak – Kotak Mahindra Bank
The history of Kotak Mahindra starts in 1985, when Uday Kotak started Kotak Mahindra Finance, a small finance and bill discounting company in a 300-square-foot office in Mumbai. Initially, he secured a loan from family and friends, and among them, Anand Mahindra, his close friend, invested a handsome amount. The early years observed the firm targeting to provide low-interest financial services to various commercial organisations such as Tata’s Nelco to counter other banks and financial institutions. This strategy was instrumental in the success of the firm, which was later known as Kotak Mahindra Bank.
In the early 1990s, Kotak Mahindra Finance diversified its services into investment banking, bill discounting, stock broking, life insurance, auto finance, and mutual funds. Such diversification formed the foundation for the firm’s future growth because it enabled the firm to expand its customer base and markets.
The year 2003 was a landmark for Kotak Mahindra when it got the banking license from the Reserve Bank of India (RBI), thus actually turning into a proper private sector bank. This decision strategically placed Kotak Mahindra Bank among the major banks in the emerging financial sector of India.
Apart from banking and financial services, the Kotak Mahindra group also set up an asset management firm and an investment business, which collectively invested in $18 billion worth of assets.
The general management style of Uday Kotak has always been prudent, simple, and humble. These values have always been close to his heart, especially while addressing the issues that characterise the contemporary global financial system. Indeed, Uday Kotak’s prudential approach to business, especially regarding the issue of leverage and the need to exercise caution, has placed the bank in a position to withstand even the worst of the global financial storms.
Apart from prudence, Uday Kotak has been supporting simplicity in the banking sector. He has continuously encouraged banks to desist from the creation of complex financial instruments that may mislead customers and create unnecessary risks. Another leadership principle that he has adopted has been his humility, saying that bankers are managers of public funds.
Uday Kotak has steered Kotak Mahindra Bank from a three-member company to a giant of financial services with over one lakh employees. Today the bank has a large number of branches and offices not only in India but also in five other countries, providing millions of people with a multitude of financial services.
On September 1, 2024, Uday Kotak took the big decision to resign from his position as CEO of Kotak Mahindra Bank, even before the expiration of his contract, which was still valid for some months.
This has been a rather unexpected shift, as Uday Kotak has been a very engaged and productive member of the bank for almost forty years. However, Uday Kotak’s decision to step down is an indication of how much he trusts the leadership that he has cultivated in the organization. It is the end of an era for the company but also a new beginning for Kotak Mahindra Bank as a whole.
Uday Kotak, the billionaire owner of Kotak Mahindra Bank, has faced various controversies in his career that affected him and the bank he founded. Here’s a look at the major controversies surrounding him:
Regulatory Issues and RBI’s Ban
Another relatively fresh and perhaps more sensational example can be traced back to April 2024, when the Reserve Bank of India (RBI) prohibited Kotak Mahindra Bank from sourcing new customers via its online platform or extending new credit cards to its customers. This move was driven by concerns over governance and risk issues within the bank’s technology systems. The RBI indicated serious compliance issues in the bank’s data protection, leakage prevention measures, and vendor risk management for two years.
The repercussions of this ban were dire. Shares of Kotak Mahindra Bank fell by up to 13%, which was the biggest single-day decline since 2015.
With a stake of almost 26%, this market selldown most affected its largest shareholder, Uday Kotak, who saw his fortune decline by $1.3 billion. The crisis also cut Uday Kotak’s wealth to $14.4bn, and for the first time since 2016, Axis Bank topped Kotak Mahindra Bank in market capitalisation. In response to the ban, Uday Kotak said that the bank was currently focusing on enhancing its IT capabilities and would ensure that the RBI receives a prompt resolution to the problems.
This was not the first time that Uday Kotak had a tussle with India’s central bank. In 2020, he had a legal dispute with the RBI regarding the percentage of his holding in Kotak Mahindra Bank. The RBI had restricted the promoter’s stake in private sector banks, and Uday Kotak had to abide by this decree by diluting his majority. The issue was resolved when Uday Kotak agreed to reduce his holding, but the showdown was a public one between the banker and the regulator.
Hindenburg Research and Allegations
Another controversy emerged in 2024 when operating in the USA short-seller Hindenburg Research accused Kotak Mahindra Bank in connection with Indian market regulations. The report accused Kotak Bank of having close connections with offshore fund structures that enabled investors to place bets against the Adani Group, thus raising concerns about the part played by the bank in these financial operations.
Uday Kotak – Awards and Recognizations
Named Ernest and young world entrepreneur of the year in June 2014
Won Business Leader of the Year award by the Economic Times in the year 2015
Featured in Money Master: The Most Powerful People in the Financial World by Forbes Magazine, US in May 2016
Ranked 8th by India Today magazine in India’s 50 most powerful people of 2017
Won the USIBC global leadership award in 2018
Lifetime Achievement Award by Financial Express in 2016
Businessman of the Year Awards 2016
Lifetime Achievement Award at Businessworld organized by Magna Awards in 2019
India business leader of the year 2021 CNBC-TV18
Uday Kotak – Interesting Facts
Uday Kotak had to take a one-year leave from his MBA when he sustained an injury in the forehead playing cricket. He was forced to join his family’s trading business before he could finally start his finance career.
After completing his education, Uday received a job offer from Hindustan Unilever but chose to follow his passion for finance instead. He refused it and told his father that he did not wish to work in a family business-type setting. His father stood by him, and Uday managed to set up his financial consultation.
The first breakthrough in the life of Uday Kotak was when he met Anand Mahindra, the then-general manager at Mahindra & Mahindra.
Uday Kotak made a deal in 1995 with Goldman Sachs to expand into investment banking and brokering.
FAQs
Who is owner of Kotak Mahindra bank?
Uday Kotak is the owner of Kotak Mahindra bank.
When was Kotak Mahindra Bank founded?
Kotak Mahindra bank was founded in February 2003.
What is Uday Kotak’s education?
Uday Kotak holds a bachelor’s degree from Sydenham College in Mumbai and an MBA degree from Jamnalal Bajaj Institute of Management Studies.
This article has been contributed by Ms. Jasna Bedi, CMO, BCD Group and Founder, Casa Di Lusso.
Luxury in real estate is no longer about owning extravagant homes. It is more about creating an emotional connection and offering a distinct experience. As competition heats up in this high-end market, its success depends not only on the physical attributes of luxury homes but also on the experiences and stories that real estate brands can create. Traditional marketing techniques have given way to an era where innovation and emotional engagement have taken the front seat.
Placing High-End Properties in a Competitive Marketplace
The high-end realty sector is saturated with extravagant homes, yet what distinguishes a property is how it is marketed and the emotions it evokes. Customers in this sector are not only concerned about square footage; they desire distinct and exclusive properties in high-profile areas. This makes careful positioning of luxury homes an essential factor.
Effective positioning relies on a deep understanding of your target clientele—the high-net-worth individuals (HNWIs) and ultra-high-net-worth individuals (UHNWIs). An industry survey reveals that India’s luxury housing segment will likely grow at 15% CAGR through 2025, driven by HNIs and UHNIs. These elite buyers don’t simply invest in a home. They invest in status, legacy, and lifestyle. To establish a brand that resonates with this elite clientele, realty marketers must carefully position luxury properties to leave a lasting impact.
A brand specialised in luxury real estate must establish itself as a symbol of trust, expertise, and exclusivity. To achieve that, it needs a clear image and an identifiable visual language. Refined typography, an elegant colour scheme, and clean marketing materials help shape positive brand perception. Real estate marketers must master this art by maintaining a consistent look that instantly conveys luxury.
Apart from aesthetic appeal, exclusivity must be incorporated into the whole brand experience. Even digital marketing campaigns need to be selective to reach only the best-qualified home buyers through precision-based campaigns that emphasise personalisation, data-driven targeting, and a multi-channel approach.
Upscale properties must also be marketed in a manner that emphasises their unique attributes. Expert photography, film-quality videography, and ultra-high-definition virtual walkthroughs should not only capture a home’s attributes but also speak about the lifestyle it represents.
Drone shots of stunning vistas, dusk photography for setting mood, and stylish interior photography help create an aspirational tale that attracts the best buyers. Also, interactive 3D floor plans give buyers a deeper sense of space and scale.
Storytelling and Emotional Branding in Luxury Real Estate
Luxury is more about stories than statistics. Homebuyers do not buy a house because of the high ceilings or marble counters. They invest in the feelings and aspirations associated with it. A luxury home must narrate a story that resonates with the desires of prospective buyers. Thus, successful luxury branding relies on captivating storytelling.
India’s luxury property brands excel in the art of emotional branding through storytelling. They incorporate the country’s history and craftsmanship into their architectural designs and lifestyle experiences to entice buyers.
The country’s high-end properties are inspired by its affluent heritage that has a deep connection with craft and culture. As such, luxury homes today blend the old and the new by combining modern sophistication with traditional ingenuity. The goal is to recreate vintage styles in a contemporary context so that a luxury home looks both timeless and relevant.
A powerful brand narrative also inspires trust. Consumers in the luxury property market prefer brands that share their values and reflect exclusivity. Consistent messaging across all channels, from the website to social media to in-person contacts, bolsters this association.
Because high-net-worth customers are sophisticated and expect seamless experiences, each point of contact needs to be exclusive and refined. Online platforms provide the chance to take storytelling beyond conventional marketing. Luxury realty brands need to leverage high-quality content to transport potential purchasers into the world they are selling.
Blog stories on architectural inspirations, interviews with top designers, and behind-the-scenes tours of upscale property developments generate curiosity and aspirational appeal. Some luxury real estate players use influencer marketing to improve brand narrative in order to captivate, engage, and resonate with people on a deep emotional level.
Utilising Experiential Marketing to Engage High-Net-Worth Buyers
In the high-end realty market, experiences make a more lasting impression than commercials. That is why experiential marketing is an anchor of luxury real estate branding. Experiential marketing has a long-lasting impact.
It is about creating an ongoing experience in which every interaction with the brand reinforces the sense of luxury and exclusivity. Every aspect should reflect refinement and prestige from the moment a potential consumer comes into contact with the brand until the final sale.
Designing immersive, memorable experiences enables prospective buyers to connect with a property on a more real level.
Curated events are one of the best ways to employ experiential marketing. A property can host exclusive events to create a memorable experience for fine dining, art viewing, or a private concert. For instance, a Michelin chef could host an intimate dinner or a celebrated painter might organize an art show in a luxury villa where guests can not only see the home but also experience the lifestyle it provides.
Technology–The Magic Ride to Virtual Luxury
Technology is also used in experiential marketing. Virtual reality (VR) property tours give buyers an immersive experience and enable overseas buyers to tour a home virtually with photo-realistic accuracy.
Listings featuring virtual tours and videos rank higher and boost engagement, besides helping realtors generate more leads. Similarly, AI concierge services provide personalized property information and recommendations to further maximize interaction and leave buyers feeling valued and heard.
Personalisation further enhances the home buying experience by allowing potential buyers to visualise different interior design options, lighting settings, flooring choices, and smart home integrations.
The Gold Standard of Luxury Branding
Aspirations are always in demand in a market dominated by exclusivity. A genuinely aspirational luxury real estate brand is not merely about the properties it lists. It is about the feelings it inspires, the exclusivity it maintains, and the experiences it offers.
In 2025, success in the luxury realty sector requires more than conventional strategies. To truly stand out, developers need an evolved, multi-dimensional strategy that resonates with high-net-worth buyers. From engaging digital narratives to offering ultra-personalized experiences, these impactful strategies can make a luxury housing brand the go-to choice for elite homebuyers.
This article has been contributed by Akshi Khandelwal, Founder & CEO, Butterfly Ayurveda.
Indian households have practiced Ayurveda for many years. What began as conventional treatment methods and home cures has now grown into a flourishing industry. We can observe its impact on everything from food and drink to skincare and wellness.
Ayurveda has also gained popularity recently among entrepreneurs looking to bring its benefits to a larger audience in innovative ways. Interestingly, a notable portion of these are run by women.
What, though, is causing this trend? Why are women-led startups in the Ayurvedic industry doing so well?
Ayurveda’s Increasing Market Potential
The demand for Ayurvedic products has grown as more individuals are turning to natural & organic wellness solutions. According to some reports, India’s Ayurveda market will expand at a CAGR of more than 15 percent in the years to come. For women entrepreneurs, this presents a promising opportunity to enter and make a mark in the industry.
Factors Driving Women Entrepreneurs in Ayurveda
1. Cultural Heritage and Knowledge
Many women grow up learning Ayurvedic practices from their mothers and grandmothers. This inherited wisdom gives them authentic insights that go beyond textbook understanding. They’ve witnessed these practices in action, which lends credibility to their ventures.
2. Consumer Trust in Women-Led Wellness Brands
Customers are more likely to trust women-led brands when it comes to skincare and wellness. Many of these brands focus on transparency, sustainability, & ethical sourcing. Today’s conscious customers really appreciate these values.
3. The Digital Revolution and Direct-to-Consumer (D2C) Model
The rise of e-commerce has made it easier for women to enter the Ayurvedic market. They can directly approach customers with the aid of social media, influencer marketing, and online stores and no longer have to depend on traditional retail networks. A considerable share of women-led brands have successfully built strong online communities by engaging customers through content-driven strategies that educate and inform about Ayurvedic practices.
The Indian government has launched a number of programs, including Startup India initiatives and Mudra loans, to encourage women entrepreneurs. At the same time, there is growing investor interest in women-led health & wellness brands.
5. Creative Product Lines
Unlike conventional Ayurvedic companies, several new women-led ventures are focusing on niche and unique product categories – personalized skincare, organic teas, Ayurvedic nutraceuticals, & menstrual wellness products. They are able to carve out a distinct space in a crowded market because of this differentiation.
6. Sustainability and Ethical Sourcing
Many female business owners are dedicated to sustainable business concepts. They value fair trade, eco-friendly packaging, and naturally sourced ingredients, all of which are in line with the global trend toward ethical consumerism. This emphasis on sustainability draws in a devoted clientele alongside building their brand reputation.
7. Ayurveda Experts Venturing into Entrepreneurship
Nowadays, a lot of female pharmacologists and Ayurvedic physicians are starting their own product lineups or working with entrepreneurs who wish to get into this market. Their business spirit and longstanding knowledge of Ayurvedic formulas are resulting in the development of superior, scientifically supported products.
Obstacles and the Path Ahead
Even with its progress, Ayurveda still presents difficulties for female business owners. A major challenge is securing funding. Bigger, more established brands continue to dominate the wellness sector. This makes it hard to draw in investors. Persuading stakeholders to invest in new Ayurvedic ventures can be an uphill battle. Strong business plans and a unique scalability vision would be necessary.
Funding for R&D and new product development is also crucial. When items are launched without adequate research, credibility and customer trust may suffer. To help entrepreneurs in creating high-quality, verified products, government agencies and investors need to offer greater assistance in this area.
Another challenge is competition. Since well-known Ayurvedic companies have a large portion of the market, it could be challenging for startups to make an impression. Women entrepreneurs need to concentrate on developing strong customer trust. They can offer specialized products and innovate them further to stand out.
Regulatory hurdles also add complexity. Businesses that use Ayurveda must follow strict government laws. This includes things like obtaining approval from organizations such as the FSSAI & the AYUSH Ministry. It can be expensive & time-consuming to make sure safety rules, quality control, and licensing requirements are met.
The outlook looks promising, nevertheless. Women entrepreneurs can make their mark with strategic planning and persistence. For the women interested in Ayurveda, the message is clear: there has never been a better time to blend traditional knowledge with contemporary market needs.
This article has been contributed by Esha Bhambri, Co-Founder & Creative Director, House of Fett.
Scaling a fashion business from a startup to a ₹100+ crore brand doesn’t happen by chance—it takes vision, persistence, and financial discipline. Many entrepreneurs start with passion, but long-term success depends on making smart business decisions, negotiating costs, and being deeply involved in operations. Here are key lessons that can help other fashion entrepreneurs scale their business effectively.
1. Scaling Starts with a Strong Vision & Relentless Persistence
The biggest difference between brands that stay small and those that scale is the founder’s vision. When I started, I had no external funding or big industry backing—but I envisioned a ₹100 crore brand from day one. No matter what challenges came in my way—economic downturns, cash flow issues, rejections—I remained persistent.
Entrepreneurs often underestimate the power of setting clear goals. If you want to scale:
Think big, but plan smart—a vision without execution is just a dream.
Be relentless—every founder faces obstacles, but those who push through will see long-term growth.
Stay adaptable—if something doesn’t work, pivot quickly without losing sight of the bigger picture.
2. Managing Costs Like Every Rupee Counts
One of the most overlooked skills in business is cost control. Many startups fail because they overspend early on and struggle with cash flow. I personally handled all company expenses, negotiating every cost to the lowest possible value. Every rupee saved was a rupee earned.
To scale successfully, entrepreneurs must:
Learn to negotiate—from store leases to raw materials, suppliers, and logistics, small savings add up to big margins.
Cut unnecessary overheads—fancy offices, excessive hires, and expensive marketing may look good, but they drain capital.
Prioritize smart spending—invest in product quality, retail experience, and customer acquisition rather than vanity metrics.
Even today, I review major operational costs to ensure the business remains lean, allowing us to reinvest profits into expansion.
3. Founders Must Know Everything in the Early Stages
In the early years of a startup, there’s no budget to hire senior executives or expensive consultants. As an entrepreneur, you need to understand every part of the business—operations, finance, marketing, supply chain, and HR.
I personally managed:
Retail leasing and negotiations to get the best locations at the lowest possible cost.
Vendor and supplier pricing to ensure our production and logistics costs remained under control.
Marketing budgets and campaign strategies, ensuring maximum ROI from them and influencer collaborations.
Once the business scales, you can hire specialists, but in the beginning, a founder must wear multiple hats and build systems from scratch.
Many fashion entrepreneurs get caught up in the design process and overlook the business side of things. While creativity is essential, a brand can only grow if it’s commercially viable.
To scale, you must:
Track sales data—analyze what works and adjust future collections accordingly.
Test in small batches before investing in large production runs.
Understand your audience—fashion isn’t just about trends; it’s about knowing what your customers actually buy.
Every creative decision must align with market demand and revenue potential.
5. Building an Omnichannel Business for Maximum Reach
A fashion brand can’t rely on a single revenue stream. Today’s successful brands scale by combining physical retail with a strong digital presence.
Many brands start purely online and struggle to scale offline because physical retail requires different expertise. A balanced omnichannel approach ensures consistent cash flow and multiple growth avenues.
6. Reinvesting Profits for Long-Term Growth
In the early stages, profitability should be reinvested, not withdrawn for luxuries. I chose to prioritize business growth over personal gains, ensuring funds were used for:
Investing in better infrastructure & supply chain.
Many startups make the mistake of spending too much on branding & lifestyle upgrades before establishing a strong business foundation. The key to scaling is delayed gratification—build the company first, enjoy the rewards later.
7. Learning from Failures & Pivoting Quickly
Every entrepreneur faces setbacks. Some of the biggest lessons come from unexpected challenges:
During COVID-19, all retail stores shut down, and we had no online business at the time. Instead of panicking, I used the last ₹30,000 left on my credit card to build an online store myself through Shopify tutorials.
When one of our best-performing stores was shut down to accommodate a retail giant, we took it as a sign to expand beyond Delhi instead of limiting ourselves to one region.
Scaling a brand is not just about winning—it’s about recovering from losses and making bold decisions when faced with uncertainty.
Final Thoughts: The Mindset Required to Scale a Fashion Business
Scaling a startup into a ₹100+ crore brand is not about luck—it’s about:
Believing in your vision even when others doubt you.
Managing costs ruthlessly and negotiating every deal.
Being deeply involved in every aspect of business operations.
Balancing creativity with commercial strategy.
Reinvesting profits to ensure long-term sustainability.
Adapting to failures and using them as opportunities to pivot.
If you’re an aspiring fashion entrepreneur, dream big, stay persistent, and be ready to work harder than you ever imagined. Success in fashion isn’t just about beautiful clothes—it’s about making smart business decisions every single day.
This article has been contributed by Mr. Rahul Murthi, Head – Revolution Pre-sales, Acies.
They say time is money, and in 2025, it cannot be more relevant. As we have observed with the rise of Large Language Models (LLMs) in the artificial intelligence (AI) space, startups in this space survive and perish in a matter of months if they do not provide the best and most useful LLMs to attract enterprise and individual customer interests.
Startup founders are undergoing tremendous pressure when it comes to converting their idea into a viable technology-enabled product or service and then into an enterprise. These pressures are related to:
Selecting and maintaining the technology stack
Non-technical founders are reliant on their CTO or technology team for the right technology stack for building their product or technology-enabled services. However, most do not factor in how their stack can be future-proofed to rapid advancements in technology. Further most also do not assess the cost of development, deployment and maintenance, which creates sudden liquidity pressures.
Building a developer base
Startup founders require sufficient liquidity to hire development personnel who continue to be expensive given the depleting availability of good and versatile developers. This requires founders to constantly sell their idea and their product to investors at the cost of their equity to have this liquidity cushion available to hire developers.
Speed and time to market
Surviving without a large or sustainable market share in any technology-focused marketplace is extremely difficult for any product and startup today. Customers and investors alike are attracted to a product or startup if they have the best-in-class minimum viable product (MVP) that objectively outshines others or are operating in a market that with a relatively untapped large TAM (total addressable market) where market consolidation is yet to commence.
No-code platforms and tools today empower anyone (including non-technical individuals) to build their MVP with minimal to no need for writing any code. MVPs can be built using the technology stack already provided by such tools and no-code platforms, where the maintenance of such a stack is at the hands of the provider of these no-code platforms or tools for a small fee.
Today, most no-code platforms and tools provide users with a visual drag-and-drop interface and ready-to-use templates to select and turn ideas into a viable technology product. Additionally, they are able to test and check their product prior to going live and quickly make the necessary changes in a matter of minutes where any issues are observed.
While the initial wave of a no-code approach emerged from website builders, today’s no-code tools and platforms provide the entire suite of offerings, which include cloud hosting, database utilization, API integrations, computation and dashboarding and more. As a result, startup founders can select any no-code platform offering all these or a bunch of no-code tools that talk to each other, for building their MVP.
In fact, a lot of large enterprises today also use no-code platforms and tools as an alternative to their in-house bespoke developed application. As per Gartner’s projections, by 2025-26, around 70% of new applications will be developed by enterprises using no-code or low-code technologies.
Benefits for startups and founders
In addition to removing the need for coding, no-code platforms and tools provide significant benefits and opportunities for startups. Here are some of the key benefits that startups realize when adopting no-code platforms or tools for building their MVP:
Removing the stress on the technology stack reliance:
The reliance on maintaining and upgrading the technology stack now rests in the hands of the providers of the no-code tools and platforms, and most no-code platforms and tools are tuned to bring the best technologies available in the market to serve their customers
Removing the stress on the developer base:
With no-code platforms and tools providing a visual drag-and-drop interface which converts into code automatically, founders can look forward to a small base of developers and non-developers too for building their MVP, which allows for a liquidity cushion which can be invested into having a good sales team.
Reduced time to market:
Today, most website builders provide the capability of creating and hosting a new website within a day, even in minutes, with the help of AI. Similarly, no-code tools and platforms reduce the time for building an MVP significantly, so as to give the startup the opportunity to compete in the market. Feedback from customers in terms of new features or new sub-products can be quickly built and shipped through the no-code approach, which further enhances customer loyalty.
More focus on strategy and innovation for the founders:
With the above benefits, entrepreneurs and founders of startups can spend more time on analysing market trends and re-assessing their business strategy and innovative ideas to make their business and products better than they currently are to attract more customers, which gives further attraction to investors of such startups to invest more.
Mumbai (Maharashtra) [India], March 26: Gaming has always been a passion-driven industry, but for many, the cost of premium games has been an insurmountable barrier. Cryztal Zone, founded in February 2023 by lifelong gamer Suraj, is changing that by offering digital games at affordable prices that every player can play without breaking the bank.
Suraj, a dedicated gamer, was frustrated by the high costs of new game releases. Browsing game stores and seeing unaffordable price tags became a disappointment. Instead of accepting this as an industry norm, he set out to change it. His vision was simple: make gaming accessible to all by offering real digital games at significantly reduced prices.
What started as an ambitious idea soon turned into Cryztal Zone—an online platform that now provides an extensive game library for PC, PlayStation, and Xbox at a fraction of the cost.
The journey hasn’t been easy. Sourcing legitimate digital game licenses at competitive rates required persistence and countless trials.
Cryztal Zone provides access to premium titles at significantly lower prices, ensuring that cost is no longer a barrier. Players receive instant digital delivery, eliminating long waiting times and allowing them to dive into their favorite games immediately.
To enhance the experience, the company offers 24/7 customer support, ensuring that gamers always have assistance when needed. The platform boasts an extensive game library featuring a wide selection of PC, PlayStation, and Xbox games, catering to all types of gamers. With a focus on security and reliability, Cryztal Zone has built a trusted and seamless purchasing experience.
One of Cryztal Zone’s most rewarding moments was when a young gamer shared his experience of finally being able to afford his dream RPG through the platform’s discounts. These stories continue to fuel the team’s dedication, proving that their work is making an impact.
The company also gained significant recognition when invited to GamingCon, a premier gaming event, to showcase its vision. The overwhelming support from the gaming community, content creators, and industry professionals solidified Cryztal Zone’s place in the industry.
