New Delhi, 4th March 2025: Beams Fintech Fund, a leading growth-stage private equity fund focused on the Fintech and Financial Services sector, has announced a follow-on investment in its portfolio company, InsuranceDekho, as part of a $70 million funding round. The round was co-led by Beams Fintech Fund, Japan’s Mitsubishi UFJ Financial Group (MUFG) and insurer BNP Paribas Cardif through its insurtech fund managed by European investment major Eurazeo.
Founded in 2017 by Ankit Agrawal, InsuranceDekho has emerged as India’s leading insurtech platform, revolutionizing the insurance distribution landscape. With a mission to democratize insurance accessibility, the company has leveraged AI-driven technologies to simplify the buying, selling, and claims process for millions of Indians. To date, InsuranceDekho has served over 10.2 million customers nationwide, with 21 new policies issued every minute on its platform.
Headquartered in Gurugram, India, InsuranceDekho has achieved a footprint across 99% of the country’s pin codes, supported by a network of 220 K partners offering 720+ insurance products across categories such as Motor, Health, Life, and Corporate Business. The platform partners with 49 insurance companies, making it one of the most extensive insurance marketplaces in India.
Sagar Agarvwal, Founder & Partner at Beams Fintech Fund, commented on the investment:
“We have been strong believers of InsuranceDekho’s vision since our initial investment. Their phenomenal growth, robust distribution network, and relentless focus on technology-driven accessibility make them a clear industry force. We have strong conviction in Ankit and the entire InsuranceDekho management team. Their expertise, speed and execution capabilities continue to propel the company forward. This follow-on investment reaffirms our belief in their potential to scale further and redefine the insurance distribution landscape in India.”
Ankit Agrawal, Founder & CEO of InsuranceDekho, added:
“We are delighted to have Beams Fintech Fund, Eurazeo, and MUFG double down on their support. This capital will enable us to expand our reach, enhance our tech-driven offerings, and solidify our position as India’s go-to insurance platform. With our continued focus on digital transformation and customer-centric solutions, we are well-positioned to drive the next wave of insurance adoption in India.”
Beams Expands Its InvestmentFootprint
This marks second investment for Beams Fintech Fund in 2025, following a INR 200 crores investment in a pre-IPO opportunity in one of the largest unlisted NBFC company in India specializing in used commercial vehicle finance across India, which is set to go public in June 2025. Beams is also in advanced stages of finalizing its third investment for the year in a leading
MSME micro-LAP player, further expanding its footprint in India’s high-growth financial services landscape.
With these investments, Beams has already deployed over ₹300 crore since the start of 2025, reinforcing its commitment to backing category leaders driving financial inclusion and innovation in India.
Beams Fintech Fund is a mid-market private equity fund managing an AUM of INR 900 crores focused on investing in category-leading Fintech, Financial Services, and B2B SaaS companies. With a diversified portfolio of high-growth businesses, Beams partners with visionary founders to drive scale, profitability, and long-term value creation.
India has an ancient clothing design history and is referred to as a prominent and emerging fashion industry. In ancient times who thought that there would be an industry that would produce an annual revenue of $165 billion? A handful of skillful designers existed before the 1980s, and one of them was Ritu Kumar. Ritu Kumar is known as one of the best fashion designers in India.
She is an Indian Fashion Designer who started her career in a small village in Kolkata with her hand block printing techniques on clothes which amazed people. Ritu Kumar started the Era of Fashion Designing with her amazing designs of Lehengas and Bridal Dresses.
This StartupTalky article explores Ritu Kumar’s success story, including her early life, history, childhood, personal life, education, awards, net worth, and more.
Ritu Kumar – Biography
Name
Ritu Kumar
Birthplace
Amritsar
Born
11 November 1944
Nationality
Indian
Education
Loreto Convent (Shimla), Lady Irwin College in Delhi, Briarcliff College (New York)
Ritu Kumar was born in Amritsar and shifted to Shimla due to the lack of educational opportunities in Amritsar. She studied at a convent school there and got admitted to the Lady Irwin College of Delhi in the late 1960s as a student of art history.
She met her husband Mr Shashi Kumar at this place and got married the same year. Later she went to pursue a scholarship in Art History at Briarcliff college of New York.
Ritu has two sons Amrish and Ashvinkumar. Amrish works with Ritu and is the CEO of Ritukumar’s fashion brand label Ritu Kumar and Ashvin is a film director who has also been nominated for Oscar.
Ritu started her career and family at a very initial stage of her life and is managing all of it very well. Ritu also pursued museology from a college in Delhi to get more knowledge on ethnic fashion and work.
Ritu began her journey in the 1960s, while she was studying museology. She visited a small village Serampore in West Bengal. In that village, she found a small colony of hand-block printers who were out of work and needed financial help and employment. That is when the idea came to start a small enterprise of giving designs that the printers began working on.
These hand-block printers created beautiful designer sarees with their outstanding work. She continuously visited exhibitions and fairs to gain popularity and soon she was noticed for her extraordinary designs in India.
She experienced the rapid changes in India, which were replacing handmade textiles with machine-made plastics. Ritu Kumar created new globally relevant designs where the handmade textile legacy would remain the original emphasis.
Initially, she designed evening clothes and Indian bridal wear, and eventually, after the great success of her designs, Ritu opened stores in different states of India. Now she was at boom and everyone knew Ritu Kumar was a brand.
By making an effort, she went international by opening branches in Paris, London, and New York. In 2002 she launched the “Label” brand in partnership with her younger son Amrish Kumar.
Ritu Kumar with her son Amrish Kumar
Ritu Kumar has 4 brands i.e. “Label” for the modern outfits of girls and women. The second brand under her is “Ri’ which showcases the bridal and lehenga worn by women. The third brand is “Aarke” which is a part of the nightwear section for women. And last but not least “Home” is a brand that sells all the home décor and essential products.
Ritu Kumar is also recognized as her clothes have been worn by famous personalities such as Princess Diana, Priyanka Chopra, Madhuri Dixit Nene, and many more actresses.
The domain ritukumar.com attracted 1,850,126 users in the year 2020. During wedding seasons in India, the company invests in servers as well, to curb excessive website traffic. Digital Impressions has designed and made the website for Ritu.
Ritu Kumar – Designs
Kumar’s designs focus on using natural fabrics and traditional printing and weaving methods. While she blends in some Western elements, she mainly sticks to classic sari designs. Her creations have been worn by many famous people, including Princess Diana, Priyanka Chopra, Deepika Padukone, and Lara Dutta. Kumar’s work showcases timeless elegance, highlighting the beauty of traditional Indian craftsmanship. She is known for creating pieces that reflect both cultural heritage and modern influences.
Ritu Kumar receiving Padma Shree by the Government of India
There is a long list of awards that Ritu Kumar, fashion designer has achieved during her journey in the fashion industry. The long list flows as:
Lifetime achievement award by NIFT
Lifetime achievement award by Kingfisher Group
Outstanding Woman Entrepreneur award by PDHCC
The award of “Chevalier des Arts et des Lettres” was given by the French government
Lifetime achievement award at Kingfisher Fashion Fantasia (2000)
Indira Gandhi Priyadarshini Award
Won the Achievement Award in the year 2012 L’oreal Paris Femina Women’s Awards
Padma Shree by the Government of India (2013)
Conclusion
Ritu Kumar one of the leading fashion designers in India, is a role model and inspiration to the youth who want to pursue a career in the fashion industry. She is a successful female entrepreneur and a live example of Indian women who are not dominated by the men in this society.
Ritu Kumar was the first person to introduce the boutique culture in India. Ritu took the chances and performed outstandingly. She is a true example of a pioneer in the fashion industry thus making a remarkable position in the present era.
FAQs
Who is Ritu Kumar?
Ritu Kumar is a famous fashion designer in India. She is claimed to be the first designer to introduce boutique culture in India and is one of India’s finest fashion designers.
How many stores does Ritu Kumar have?
Ritu Kumar has 93 stores across the country.
Who is the brand ambassador of Ritu Kumar?
Shanaya Kapoor is the brand ambassador of Ritu Kumar.
What is Ritu Kumar education?
Ritu Kumar’s education journey began in Simla, where she attended Loreto Convent due to limited schooling options in Amritsar. She then studied at Lady Irwin College, where she met her husband, Shashi Kumar. Later, she received a scholarship to study Art History at Briarcliff College in New York. After returning to India, she furthered her studies in museology at the Asutosh Museum of Indian Art, University of Calcutta.
What is the revenue of Ritu Kumar?
The annual revenue of Ritu Kumar was over INR 3 billion for 2023.
What is the difference between Ritu Kumar and Label Ritu Kumar?
Ritu Kumar is the name of the designer herself, known for her contributions to traditional Indian fashion. She creates high-end, bespoke clothing using natural fabrics and traditional techniques, focusing on both modern and classic Indian designs.
Label Ritu Kumar, on the other hand, is the brand under which her ready-to-wear collections are sold. It offers stylish, contemporary pieces inspired by Ritu Kumar’s design philosophy but is more accessible compared to her couture collections. The label provides a range of products, from casual wear to festive outfits, blending traditional and modern elements.
Bank of India (BOI) has taken a significant step in expanding its footprint by inaugurating 111 new branches across the country. The virtual inauguration was led by the Managing Director & Chief Executive Officer, Mr. Rajneesh Karnatak, reinforcing the bank’s commitment to financial inclusion and enhanced customer accessibility.
The newly inaugurated branches span multiple cities, further strengthening Bank of India’s nationwide presence. Hyderabad FGMO (Field General Manager Office) has seen the highest increase, with seventeen new branches. Chennai FGMO has witnessed significant growth with fourteen new branches. Pune FGMO has expanded with thirteen and New Delhi FGMO has introduced twelve new branches. Bhopal FGMO has expanded with eleven. Chandigarh and Lucknow FGMO have each inaugurated ten branches each.
Commenting on the expansion, Mr. Rajneesh Karnatak, Managing Director & Chief Executive Officer, said: “This expansion strengthens our presence in key urban and semi-urban centers, bringing banking services closer to our customers. By increasing our branch network, we aim to enhance accessibility, improve customer convenience, and provide a more personalized banking experience. We remain bound to provide seamless financial access, supporting small businesses, and empowering individuals with the resources they need to grow and thrive. This initiative aligns with our broader vision of driving financial inclusion and contributing to the nation’s economic growth.”
SpaceTech startup TakeMe2Space has raised Rs 5.5 Crore in a pre-seed round led by Seafund. The round also saw participation from Blume Ventures, Artha Venture Fund, AC Ventures. and other marquee angels. TakeMe2Space plans to use the funds raised towards the launch of MOI-1 – India’s first AI-labratory in space. The Company has successfully finished 2 space missions in collaboration with ISRO’s POEM platform. TM2S demonstrated a novel radiation shielding coat.
Founded in 2024 by Ronak Kumar Samantray, TakeMe2Space is a SpaceTech startup that redefines satellite applications by addressing data processing challenges directly in space. The company aims to provide accessible space research opportunities and democratize space exploration by emphasising on enhancing domestic capabilities in radiation shielding, propulsion systems, and inter-satellite communications, which collectively will further empower the sector.
TakeMe2Space with its upcoming MOI-1 launch will focus to ensure the 15+ early customers for AI-lab have a smooth experience of running their orbital applications. In the short term, the company’s GTM would be focused on doubling down on adoption of TM2S developed satellite subsystems in India, Australia and Europe.
In the last 12 months, TakeME2Space has expanded to a team of 17+ members. The company’s robust engineering staff has built over 15 satellite sensors and subsystems.
Key Achievements:
AI Execution in Space: MOI-TD successfully demonstrated the ability to uplink large AI models from a ground station, execute external code on the satellite, and securely downlink encoded and encrypted results.
Full System Validation: The mission successfully tested all critical subsystems, including: Sensors: Sun Sensor, Horizon Sensor, Solar Cell, IMUs
Computing Infrastructure: Zero Cube AI Accelerator, POEM Adapter Board
Operational Success: The AI payload executed multiple real-time processing tasks, validating the system’s ability to process Earth observation data on orbit.
Commenting on the investment, Manoj Kumar Agarwal, Managing Partner, Seafund , says, “As a deep tech focused fund, we believe emerging technologies like space tech have the ability to unlock highly impactful solutions at scale. The Indian space industry has witnessed remarkable technological accomplishments. With the Indian Government’s various initiatives and policy schemes to augment the capabilities in Space technology development will further boost the sector. TakeMe2Space has been working tirelessly with its upcoming MOI-1 launch which will be a game changer towards building data centres in space. The funding will help the company scale to the next stage and also expand its satellite subsystems on a global level.”
The Company aims to scale operations, launch in new regions, expand its product portfolio, strengthen R&D, and drive customer acquisition.
Ronak Kumar Samantray, Founder & CEO, TakeMe2Space, says, “TakeMe2Space is on a mission to democratise space for all. This funding is a testament to our team’s dedication and the impact we are creating in the space tech industry. With the support of our investors, we are excited to accelerate our growth and the first AI Lab to more customers globally.”
Over the next 12 months, the company expects to double its revenues.
According toINVEST INDIA India’s SpaceTech sector is rapidly expanding, driven by technological advancements and government support, with immense potential for growth and global collaboration. This shows a massive potential for TakeMe2Space to grow and be the market leader in this segment.
For Indians all across the globe, summer vacations have become synonymous with the Indian Premier League. But it is no longer just cricket but a blend of speed matches, celebrity sightings, and some smart business tactics. That is why people around the world are now tuning in to watch the IPL.
So, what is the secret behind the popularity of the Indian Premier League?
The answer lies in their superior marketing strategies. IPL has cracked the marketing code and is turning cricket into an obsession. So, let’s take a look at how the IPL began and some marketing lessons that businesses can follow.
In 2007, after India’s victory at the 2007 T20 World Cup, the BCCI declared the launch of a new franchise, IPL. The inaugural season was to start in April 2008 and the then BCCI VP Lalit Modi provided details of the event that included the format, prize money, and more.
To determine team ownership, an auction was held in January 2008, and the reserve price for the eight franchises (Chennai Super Kings, Mumbai Indians, Kings XI Punjab, Delhi Daredevils, Kolkata Knight Riders, Rajasthan Royals, Deccan Chargers, and Royal Challengers Bangalore) that totaled $400 million. But realistically, they raised over $723.59 million.
In 2010, the IPL was one of the first sporting events to be broadcast live on YouTube. In 2022, the league was valued at INR 90,038 crore. In 2023, the IPL final became the most live-streamed event on the interne,t with over 32 million views.
Now that we know a little bit about the Indian Premier League, it is time to understand the multiple layers of IPL.
Being the MVP of the Industry
The IPL is one of the best examples of how a brand can resonate with the audience. Here are some ways IPL has built their brand:
a) Creating a unique identity:
One of the best ways IPL has branded itself is by creating a unique identity. Not only is IPL a global phenomenon, but they have also ensured that all the teams in the event are memorable as well. Each team has its distinctive name, colour, and logo.
For example, Kolkata Knight Riders (KKR) has purple and gold jerseys, whereas Chennai Super Kings have bright yellow ones. This visual branding helps fans identify with their teams.
Creating a Unique Identity
b) Star Endorsements:
The Indian Premier League has the star power of both Bollywood celebrities and cricketers combined. By associating with stars like Shah Rukh Khan (co-owner of KKR) and Shilpa Shetty (co-owner of Rajasthan Royals), the brand has a massive following to increase its appeal.
Star cricketers such as MS Dhoni, Virat Kohli, and AB de Villiers not only brought their A-game but also their personal following to the game.
c) Consistent Storytelling:
Every year, the IPL maintains its consistent storytelling and emphasizes the competitive spirit, excitement, and glamour of the league. This narrative has helped them build a cohesive brand image. Some of the most iconic marketing campaigns of the brand have been:
I. Creating an Experience:
The IPL is not just about cricket matches but the experience. From the electrifying atmosphere to the engaging content, IPL makes sure that fans are always entertained. For the in-stadium experience, IPL has live music and cheerleaders to create a carnival-like atmosphere to keep the fans engaged.
The IPL official app and social media channels have exclusive content, interactive features, and behind-the-scenes footage to improve the overall experience for those people sitting and watching the match at home.
II. Building a strong community:
One of IPL’s most crucial marketing tactics is building a strong community. With a sense of belonging, fans remain loyal throughout the tournament. All the teams have official fan clubs that have exclusive perks, such as a meet-and-greet with players and early bird tickets.
Many teams also have multiple CSR activities such as the Royal Challengers Bangalore, the ‘Go Green’ initiative, or the Rajasthan Royals all-pink jersey to support the empowerment of women from rural India.
Marketing Business Lessons:
To develop a strong logo and have a consistent colour scheme
Collaborate with celebrities and influencers to attract a wider audience
Develop a strong brand narrative and keep storytelling consistent
Focus on creating a holistic experience with digital content
Cultivate a loyal customer base by offering exclusive deals
Engage in corporate social responsibility to build ties with the audience
IPL places their fans at the heart of their marketing strategies. The success of the tournament is not just the cricket pitch but also building an overall experience for the audience.
a) Keep the content engaging:
IPL keeps its fans hooked with engaging content that is not just in the matches. Months before the actual tournament starts, the brand builds intrigue through player auctions, teasers, and team announcements. Fans also get behind-the-scenes content such as locker-room interviews, training sessions, and more to make them feel like a part of the team.
b) Interactive engagement:
The IPL has multiple social media platforms to engage directly with their fans and make them feel like a part of the team. Fans can engage with teams and players on social media platforms and post Q&As, tweet players, and more.
The brand also runs challenges and contests such as #FanOfTheMatch to engage with fans to win exciting prizes.
I. Fun merchandise:
IPL has multiple interactive zones with photo booths, games, and official merchandise stores that improve their overall match experience.
II. Loyalty program:
The brand has multiple programs and benefits to foster a sense of loyalty. Fans can be a part of the fan club and get access to tickets and seasonal passes.
Marketing Lessons for Businesses:
Create engaging content to keep your audience connected with your brand.
Share development updates and behind-the-scenes stories to ensure that the audience connects emotionally with the audience.
Leverage social media and run contests to foster stronger connections.
Implement a loyalty program to offer exclusive benefits.
The IPL is no longer a regional event but an international phenomenon. Here’s a look at how IPL achieved this balance:
a) Building a local appeal:
The IPL tournament strategically focuses on creating regional identities for its teams so that it connects better with its audience. Each team is from a specific state or city that encourages local pride. Teams such as Mumbai Indians, Kolkata Knight Riders, and more are extensions of their cities.
Local players such as MS Dhoni for Chennai and Virat Kohli for Bangalore help reinforce their connection. The brand also broadcasts its matches in multiple languages, such as Bengali, Hindi, Tamil, Telugu, and Kannada. This means that fans can enjoy the match in their native language.
b) Global reach:
The IPL is now gathering a global audience, and it is becoming one of the most-watched cricket leagues in the world. International players such as Chris Gayle, David Warner, and AB de Villiers have their own international fan bases that follow IPL. The brand broadcasts to over 120+ countries with partnerships with broadcasters such as Hotstar, Sky Sports, and Willow TV.
Focus on creating a local connection first by understanding your regional market.
Promote local heroes and use regional languages to connect better with your audience
If you want to connect to a global audience, then include some international elements
Connect with global audiences via international broadcasting stations
Remember to create a balanced strategy that celebrates local cultures while engaging with a global audience.
Conclusion
The IPL tournament is not just a cricket event – it is a genius example of modern marketing practices. Essentially, IPL represents how a product can be turned into a successful business model. So, to succeed, a brand needs to focus on some major aspects: strong branding and marketing, connecting with its audience, using digital marketing channels, and reaching out to a wider audience. By following these, businesses can create a long-term presence in their markets.
The convenience of Internet food delivery services was greatly enhanced during the pandemic. The dominant player in the online grocery delivery app and company market is influencing users’ habits.
Online shopping is becoming increasingly common among consumers. As a result, more and more delivery services, like Zepto, have launched their services to meet the ever-increasing demands of their clients for lightning-fast delivery. You should be familiar with the Zepto business model if you are looking to enter the market.
The supermarket delivery industry is booming, thank goodness, because it requires less time, effort, and money than other industries. In 2020, the projected value of the online grocery business was $2.9 billion. Through this article, we will go over the basics of Zepto, including its business model and how it generates revenue.
About Zepto
Zepto, founded in 2021 by Aadit Palicha and Kaivalya Vohra, two former Stanford University students, is a platform for quick commerce that provides a grocery delivery service within 10 minutes. Fast grocery delivery was the driving force for the founding of the firm. Zepto boasts delivery to major cities like Bengaluru, Lucknow, Delhi, Chennai, etc., from its Mumbai headquarters. The original company, Kiranakart Technologies Private Limited, was turned off into Zepto by its founders.
The “dark store model” serves as the foundation for Zepto’s business model. This involves setting up delivery-only warehouse-style stores in residential regions. The shops sell a variety of products, and the sole way for buyers to place orders is through the Zepto India website or app. Across multiple regions, Zepto now has more than eighty-six dark storefronts. Dark businesses are great for quick shipping, but they may crash under heavy traffic. However, Zepto created an AI-driven system to assist with selecting, packing, and shipping to avoid sacrificing quality or service. Zepto can provide an extensive product line at rock-bottom prices because of this technology, which guarantees a seamless transition from choosing to packaging to delivery.
Zepto India can provide a fast delivery service thanks to the convenience of having outlets close to customers’ homes, which is an advantage of the Zepto business model. The elimination of the necessity for employees to utilize the store also allows the company to run with a reduced headcount.
How Zepto Makes Money | Zepto Revenue Model
A little commission is charged for each order placed using the Zepto Grocery app in India. Helping to pay the costs of running the app and ensuring that consumers have a great experience, this commission is usually 2-3% of the total order amount.
With almost $1.3 billion raised across eight rounds, Zepto is certainly a no-money lightweight, making it the first unicorn startup of 2023.
In recent times, the Zepto business model has experienced tremendous expansion. Their incomes increased by 800% while their burn rate per order reduced by 5%. The reason for this rise is that Zepto boasts a 50% growth rate per month.
Here’s an easy-to-understand version of Zepto’s revenue model:
Sales of Products: Zepto makes money by selling groceries, home goods, and personal care items on its website. They buy products from local suppliers and brands, keeping prices low. Sometimes, they charge a little more for certain items compared to regular stores, which helps boost revenue.
Delivery Charges: Zepto charges a delivery fee based on factors like how far the delivery is, the order size, or any special deals. This fee helps cover the cost of fast delivery and brings in extra money.
Subscription Models: Zepto offers membership plans for regular customers, giving benefits like free delivery or special discounts. This makes it easier for frequent buyers to make purchases.
Advertisement and Promotions: Zepto partners with brands for advertisements on their platform. Brands pay to get more visibility. They also create special offers or coupons in the app to attract more customers.
Data Monetization: Zepto collects useful data from customers. They can sell insights from this data to brands and suppliers to help them understand customer behavior and improve their products.
Fulfillment and Logistics: Zepto could offer its delivery and logistics services to other businesses, creating another source of income.
New Category Expansion: Zepto may expand beyond groceries to sell other items like electronics, health products, or prepared meals, increasing their revenue streams.
Challenges and Considerations
Pricing Pressure: Zepto must balance keeping prices low and offering fast delivery while making a profit.
Customer Retention: Zepto needs to keep customers loyal with great service and rewards programs.
Operational Efficiency: Zepto must keep its delivery and logistics system efficient to control costs and maximize profits.
Zepto Financials
Zepto Financials
FY22
FY23
FY24
Operating Revenue
INR 142.3 crore
INR 2,026 crore
INR 4,454 crore
Expenses
INR 532.7 crore
INR 3,350 crore
INR 5,754 crore
Profit/Loss
INR 390.3 crore (loss)
INR 1,272 crore (loss)
INR 1,248 crore (loss)
Zepto Financials FY24
In FY23, the quick-commerce startup’s operating revenue stood at INR 2,026 crore. In FY24, Zepto’s operating revenue saw a growth of about 120%, reaching INR 4,454 crore.
Zepto’s losses saw a slight decrease of 2%in FY24, to INR 1,248.6 crore from INR 1,272 crore in FY23.
Customers in a rush will be enticed by Zepto’s promise of ultra-fast delivery—a mere 10 minutes—since the company dominates this segment.
Zepto has been aggressively growing its presence in key Indian cities, particularly in metro and big urban areas, to guarantee the quickest delivery times imaginable.
Zepto SWOT Analysis
SWOT Analysis of Zepto
Zepto Strength
Zepto can process orders more quickly and efficiently thanks to its dark store and speedy packaging. Several distribution options are made available by micro and cold warehouses, which physically deliver groceries closer to a certain market group.
To maintain an up-to-date procedure and an app that is easy to use, Zepto makes use of a broad variety of software. Put together a crack team of professionals who are well-versed in all things related, such as data analytics, software development, and artificial intelligence. As a result, the market delivery system is more within the company’s control.
Zepto Weakness
Customers are less likely to purchase due to the lack of high-quality product images.
Delivery is only offered in a limited number of areas. There is a limit on their ability to invest in marketing or expand operations due to limited human, or infrastructure resources.
Zepto Opportunities
Zepto may explore opportunities to extend its business operations internationally by entering new markets and expanding its clientele on a global scale.
When new technology or industry trends emerge, Zepto may have opportunities to expand its product and service offerings or create innovative solutions.
Zepto Threats
Rules and regulations or the need for regulations and developments pertinent to Zepto’s sector can complicate compliance and increase operational expenses.
To retain customers over the long term, Zepto must fulfill its word and deliver on time every time. Failing on this line means a massive loss of business.
Zepto’s founders assert that the additional acquisitions will strengthen the company’s ability to connect with customers and improve its level of service. As of this very moment, Zepto is operational in the metros of India. In any case, the company has not disclosed its consumer calculation; however, several sources claim that Zepto is growing at a rate of 200% per month.
For a company to achieve success, it takes a lot of things, and Zepto has everything. They have a fantastic team, are quick to act, and are focused on their goals. In addition to this, they planned their entrance into the supermarket delivery market with great precision. Even though they have only been in operation for a few years, they have already raised the expectations of their customers and are heading towards a company strategy that is more focused on the client.
FAQs
What is Zepto?
Zepto is a startup based in Mumbai that offers a 10-minute grocery delivery service. To fulfill orders promptly, Zepto employs its network of ‘cloud shops’ or micro-warehouses.
What is business model of Zepto?
The “dark store model” serves as the foundation for Zepto’s business model. This involves setting up delivery-only warehouse-style stores in residential regions.
What is the valuation of Zepto?
The valuation of Zepto is $3.6 billion as of June 2024.
What is Zepto seller commission?
Zepto currently does not use a seller commission model. It profits from direct product sales, delivery charges, and other revenue streams like ads and data.
What is Zepto USP?
Zepto’s USP is ultra-fast delivery of groceries and essentials, often within 10-15 minutes, through its network of dark stores located near customers.
What is Zepto dark store model?
Zepto’s dark store model involves setting up delivery-only warehouse-style stores in residential areas. These stores are not open to the public, and customers can only order through Zepto’s website or app. This model allows for faster delivery and reduced overhead costs, as the stores are optimized for picking, packing, and shipping products efficiently.
Approximately 64 percent of adults around the world need corrective lenses to see clearly, according to recent studies. Envisioning a society where selecting the ideal eyewear is both a vital must and a truly enjoyable activity. This ambition has come true thanks to Lenskart, an industry pioneer.
Both customers’ perception of eyeglasses and their shopping habits have been revolutionized by Lenskart’s groundbreaking business model, which combines cost, convenience, and style. Its business model is what makes the company different from others, as it bridges the gap between different touchpoints, i.e. it gives the customer an Omni Channel Experience where a customer can order either from the store or from an online medium.
Lenskart is one of theeCommerce companies that operate in both online and offline distribution channels. Customers can order their products over the online portal or from Lenskart’s uniquely designed offline store. Lenskart also becomes a unicorn company in the year 2019.
Lenskart is the fastest-growing retail chain with 500+ profitable stores across 120+ cities and 50 Lac happy customers across India. Valyoo Technologies is the parent company under which it is registered. Lenskart app is the No.1 shopping app for eyewear as it has the widest collection of specs, sunglasses, goggles, frames, anti-glare, contact lenses, reading glasses, computer glasses, try glasses at home, prescription sunglasses, and eye accessories.
Lenskart is a novel business strategy that combines technology with fashion, and we urge you to explore this intriguing world with us in this post.
The founder and CEO of Valyoo Technologies (the parent company of Lenskart) is Peyush Bansal. He pursued his Bachelor in Electrical Engineering – IT, Control & Automation from McGill University, Canada in 2006. Before he returned to India to pursue a PG in Management from IIM, Bangalore, Peyush worked as a Program Manager with Microsoft for a year.
Peyush launched his company Valyoo Technologies with SearchMyCampus as the first business portal in 2007. It was a classified site for students that provided options for accommodation, books, part-time jobs, carpool facilities, and internship opportunities. When that became a big hit, Peyush wanted to explore the eCommerce world. While exploring opportunities, the eyewear segment caught his eye and inspired him to come up with his own.
This led to the creation of Flyrr.com, a website that focused on the eyewear market in the US. Flyrr went on to gain good traction and this prompted him to test the waters in the Indian markets and launch Lenskart in November 2010.
Lenskart was founded by Sumeet Kapahi, Peyush Bansal, and Amit Chaudhary with a singular goal in mind: to ensure that everyone could afford and have access to eyeglasses.
The creators noticed that purchasing eyeglasses in India might be a hassle and a drain on budget due to the prevalence of offline businesses selling a restricted selection of frames at high prices.
Lenskart, an online marketplace offering a diverse selection of eyewear at affordable rates, was created to tackle these challenges. Company operations are distributed all over India, although the headquarters are in Gurugram.
Lenskart has partnered with some major names in the eyewear business. Working with manufacturers, it has sourced reasonably priced, high-quality frames and lenses. The business has also collaborated with lens makers to create its lenses, which it markets under its label.
Lenskart has also collaborated with digital companies to make online buying easy for their clients. It has teamed up with traditional retailers to broaden its consumer base and provide in-store customization options. The company’s main source of income comes from the selling of its products and several subscription plans.
Lenskart offers over 5000 frames and glasses and more than 45 different kinds of high-quality lenses. The company follows an inventory-led business model wherein equal sourcing is done from India and China. Lenskart has a team of designers and stylists that keep a tab on the latest trends in the eyewear department, the designs made by the team are then passed down to the manufacturers.
To reach the masses, they have also ventured into offline stores through the franchise model. Lenskart currently has over 2500 omnichannel stores across 175 cities in India, Singapore, and Dubai. They have balanced the reach by spreading out across metro and non-metro locations and are currently serving more than 4000 people in a day and looking at scaling it up to 200,000 people in the coming years.
4 success factors in this industry are the quality of the product, the product portfolio, the delivery time, and lastly the sales service. Lenskart has a good value proposition that provides high-quality products at an affordable price. They also have a team of 1000+ employees who operate on manufacturing, eye technicians, custom service, technology, and logistics which further expand as the growing demands.
The revenue model of Lenskart encompasses multiple revenue streams to earn revenue. The sale of eyewear products, such as frames, lenses, sunglasses, and contact lenses, constitutes the company’s principal source of revenue. The company offers a diverse selection of items, making it suitable for customers of varying ages and requirements.
Glasses accounted for the bulk of Lenskart’s income, making nearly 95% of its total. Compared to the fiscal year of 2023, when it was INR 1,618.3 Cr, Lenskart’s total revenue, including other income, was INR 3,927.9 Cr, an increase of 142.7%. Fees for training, services, and in-home vision tests are some of the other ways the business makes money.
The subscription-based services that Lenskart offers are another source of revenue for the company. Lenskart Gold is a subscription program that offers users exclusive perks, such as free eye tests, free home eye check-ups, and savings on eyewear items.
Additional accessories and add-ons: Lenskart also provides additional accessories such as eyeglass cases, cleaning solutions, and lens wipes, in addition to further add-ons such as coatings that are scratch-resistant and anti-glare.
Fees for franchises: The company generates revenue by collecting franchise fees from optical retailers that are partners with it.
The business model of Lenskart is a business-to-consumer (B2C) approach, which is centered on sales. Direct sales of the company’s products to end users at affordable prices are made by the business. In addition to that, the organization places a strong emphasis on the most up-to-date fashions and trends, as well as durability and flawless quality. Their robotic technology comes from Germany and is imported from there. Because of this cutting-edge technology, Lenskart is the only company that is capable of producing eyewear that is accurate to within three decimal places and performs efficiently. The incorporation of these innovations into Lenskart’s business cycle enables the company to offer a product that is not only one-of-a-kind but also technologically advanced. Lenskart’s products distributorship primarily involves a franchise network, where franchisees manage physical stores and promote the brand to local customers. As a result, increasing the amount of revenue generated through the sale of these articles.
Lenskart Financials FY24
Lenskart Financials
FY23
FY24
Operating Revenue
INR 3788 crore
INR 5428 crore
Total Expenses
INR 4025 crore
INR 5550 crore
Profit/Loss
INR -63 crore
INR -10 crore
Lenskart’s financials show significant improvement from FY23 to FY24. Lenskart’s operating revenue grew by 43%, increasing from INR 3,788 crore to INR 5,428 crore. Total expenses also rose by 38%, from INR 4,025 crore IN FY23 to INR 5,549.5 crore in FY24. Although Lenskart still recorded a loss, the loss amount was reduced by 84%, from INR 63 crore in FY23 to INR 10 crore in FY24.
Lenskart Financials FY24
Lenskart USP
Suitability: Lenskart provides its clients with a shopping experience that is both convenient and easy. In addition to in-store and online shopping, customers can use the company’s website to schedule in-home eye exams. Customers may easily get the glasses they need without leaving the comfort of their homes.
Customization Lenskart provides its consumers with the opportunity to create their own unique buying experience. Customers can view how various frames will appear on their faces with the company’s virtual try-on tool on the internet. Lenskart also features in-store optometrists who are qualified to assist clients in selecting the ideal eyewear.
Excellence: Lenskart provides customers with long-lasting items that are crafted from top-notch materials. Customers have 14 days from the date of purchase to return an unsatisfactory item, according to the company’s generous return policy.
Lenskart SWOT Analysis
Lenskart SWOT Analysis
Lenskart Strengths
With its integrated model, Lenskart manages every step of its supply chain, from raw materials to finished products. Because of this, they can manage their inventory more efficiently, ensure faster delivery, and monitor quality.
Lenskart uses a hybrid retail strategy combining online and offline stores to serve a diverse consumer base. Physical stores provide instant service, credibility, and the ability to touch and feel products, while online platforms offer convenience.
In terms of technological innovation, the firm has always been ahead of the curve when it comes to improving the client service they provide. One thing that sets them different from other eyeglass stores is their virtual 3D try-on technology.
Branding and marketing efforts by Lenskart have been highly visible, elevating the company to the forefront of India’s eyewear industry.
Trust and customer happiness have always been Lenskart’s top priorities, which is why the company offers easy returns and product guarantees.
Lenskart Weakness
Although it has many advantages, the hybrid model of brick-and-mortar and Internet shops can create certain operational challenges. It can be difficult to manage logistics, and inventory, and maintain a consistent brand experience on both platforms.
Like many eCommerce platforms, Lenskart frequently uses sales and promotions to entice customers. This may lead to a decline in profit margins and establish a discount-focused expectation among customers.
Eyewear is a highly competitive industry, and this is true both online and offline. Potentially troublesome are competing brands, particularly long-standing global ones.
Lenskart Opportunities
The rising purchasing power of middle-class consumers and the general public’s focus on eye health point to a promising future for the eyewear industry in countries like India.
With the continued growth of internet access, particularly in emerging nations, the pool of potential customers for online eyeglass purchases is growing.
Expanding into adjacent product categories, such as high-end eyewear, specialized sports eyewear, or smart eyewear, could open up fresh avenues for expansion and revenue generation.
There is a substantial opportunity in smaller cities and villages, where the penetration of branded eyewear is lower than in metropolitan areas.
Lenskart Threats
Problems may arise if the governments of the countries where Lenskart does business were to alter their policies regarding online sales, imports, or exports.
The dynamics of the eyewear market or the viability of specific services could be altered by introducing new, possibly disruptive technologies due to the rapid pace of technological innovation.
Natural catastrophes, pandemics, or geopolitical conflicts are just a few examples of the kinds of disruptions that can affect the supply chain and cause problems with inventories or delays in deliveries.
The eyeglasses market is vulnerable to fake goods. Lenskart must consistently check the things it sells for authenticity if it wants to keep its reputation intact.
The Omni Channel Method
Lenskart started as an online business, but when they understood that Indian customers prefer to touch and feel the product before buying a high-involvement product, this is when they shifted to the Omni Strategy. It was important for them to leverage technology to actively engage their customers and adapt to the ever-changing consumer expectations.
With this strategy, the company focuses on delivering the right product, at the right time and the right place. For Lenskart, customer engagement is more important as they help their customers get a shopping experience tailored to their preferences. Lenskart is trying to keep itself close to the customers and increase trust by providing a value proposition.
Lenkart is known to give bundled offers like buying two at the cost of one or cross offers like giving the first frame for free, real-time offers, personalized recommendations, email coupons, etc. Lenskart has expanded to various cities which are based on the franchise business model in which 35% of all revenue is shared with the franchisee and an annual fee of INR 2 lakhs.
Growth Drivers for Lenskart
“The first frame is free” offer – Where the customers will pay for only the lens on their first purchase. A good strategy to attract first-time buyers.
“Try at home” –Where the customers can choose a maximum of 5 frames and try them at home before making a final purchase. This has led to more sampling by customers.
Eye checkups by optometrists at home across cities have been introduced.
Innovative use of technology – Developed a 3D facial visualizer where customers can see how the frames will look on them.
Features of Lenskart
The main features of Lenskart making it a popular eyewear brand are:
Lenskart’s competitors include both online and offline players. Even traditional retailers who specialize in eyewear are the competitors of Lenskart. Competition is heating up in this space with players like GKB, Lawrence and Mayo, Titan Eye Plus, Bausch and Lomb, Vision Express, Specsmakers, Coolwinks, Deals4Opticals. Some manufacturers like Ray-Ban, Essilor have their own online stores.
Lenskart faces competition from eCommerce marketplaces like Amazon, Flipkart, Paytm Mall, and Snapdeal which sell eyewear and impact its business directly. With a market size of Rs. 18000-20000 crore, organized players account for barely 9-10% of the market. The brands compete with a vast variety of low-priced products available offline and online so the challenge is to steer customers away from local opticians and keep them loyal.
Challenges and Future Growth Opportunities
Lenskart has experienced rapid growth, but it faces several challenges along the way. One of the primary obstacles is the intense competition from both other eyewear brands and online platforms, which makes it challenging to stand out in a crowded market. Additionally, Lenskart must ensure that its customer service remains consistent across both online and offline channels, which can be difficult to manage effectively. Scaling operations in smaller towns presents another challenge, as the purchasing power and demand for premium eyewear may be lower compared to metropolitan areas.
Despite these challenges, Lenskart also has substantial growth opportunities ahead. As more Indians become aware of the importance of eye health and opt for stylish eyewear, there is a growing market for quality products. The increasing demand for blue light-blocking glasses, driven by the rise in screen time, and the expanding middle-class population, create significant potential for continued growth and expansion within the industry.
Conclusion
Lenskart, whose slogan is “Our mission is to give India a Vision,” is among India’s most successful unicorn corporations. In the years to come, the eyewear brand plans to offer the greatest eye care solutions and use its low-cost franchise model to reach a variety of people. For aspiring entrepreneurs looking to make an impact in the eyewear sector, Lenskart offers a business strategy that provides updated solutions. Lenskart through its defined business model gives a clear message to youngsters that customer experience, integration, the Omni channel model, and product technology should be their primary areas of concentration if they want to achieve success.
FAQs
What is business model of Lenskart?
Lenskart has a B2C business model which is highly sales-oriented. They sell their product directly to customers at an affordable price. They have a wide variety of frames within a price range of Rs.345 to Rs.30,000 and also the first frame you buy is absolutely free.
Is Lenskart a Chinese company?
No, Lenskart is not a Chinese company. Lenskart is an Indian retail chain for spectacles having factories in China as well which manufactures about 50% of the production.
What are Lenskart features?
Lenskart offers a wide range of eyewear with over 5000 frames and 45+ lens types, featuring virtual try-on technology for a personalized shopping experience. The company combines online shopping with 1500+ physical stores to provide an omnichannel experience. Customers can customize their eyewear, access subscription plans for lens replacements, and enjoy hassle-free returns. Lenskart also offers home eye checkups and maintains affordable pricing with regular discounts, making quality eyewear accessible and convenient.
What is the USP of Lenskart?
Lenskart’s USP is its wide range of stylish, affordable eyewear, enhanced by virtual 3D try-on technology and a hybrid retail model combining online and offline stores.
How is Lenskart so cheap?
Since Lenskart is a B2C company, there are no intermediaries involved to eat their revenue.
How does Lenskart make money?
Since no intermediaries are involved between buyer and seller so whatever revenue generated comes directly to the company’s account.
Why should we choose Lenskart?
Lenskart has over 5000 styles of eyewear, which is 5 times more than that any retailer in India. Also, they provide a seamless user experience to their customers. Their lenses are durable and long-lasting along with their funky to casual looks.
What is Lenskart distribution channel?
Lenskart’s distribution channels include its e-commerce platform, 1500+ omnichannel stores, franchise model, social media marketing, and retail partnerships.
How does Lenskart work?
Lenskart works by offering a wide range of eyewear through its online platform and physical stores. Customers can browse products online or in-store, use features like virtual try-on technology, and order glasses or lenses. Lenskart sources frames and lenses from manufacturers, provides customization options, and ensures quick delivery. It also offers subscription plans for regular lens replacements and has customer service for support and adjustments.
What are Lenskart brands?
Lenskart offers eyewear under the following brands:
Lenskart – The main brand offering a wide range of eyewear.
John Jacobs – Premium eyewear collection.
Vincent Chase – Stylish and affordable eyewear.
Oaks – Budget-friendly eyewear brand.
Dita – High-end luxury eyewear brand.
These brands cater to different customer segments, from affordable to luxury eyewear.
How many Lenskart total stores in world are there?
In order to assist businesses working in the fields of data analytics, blockchain, spacetech, and artificial intelligence, PwC India has started its first accelerator program. Under the three-month “Emerging Tech Startup Challenge” program, at least 15 late-stage firms with at least two to three successful commercial implementations and Series A or B funding would be chosen, according to a statement from PwC India. The statement further stated that these chosen firms will get 25 hours of pro bono advising services in areas like management, technology, go-to-market tactics, valuation, fundraising, and taxes. According to Sanjeev Krishan, chairperson of PwC India, the firm is supporting a vibrant and sustainable tech ecosystem in India by empowering up-and-coming tech businesses and giving them the resources they need to succeed.
Accelerator Focuses Startups Across Multiple Sectors
The accelerator focuses on entrepreneurs with solutions in both B2B and B2C markets that operate in a variety of industries, such as manufacturing, retail, financial services, infrastructure, healthcare, and telecommunications. According to Arnab Basu, partner and advisory leader at PwC India, the company hopes to build a growth ecosystem for its clients via this platform. PwC India is eager to observe how innovators and disruptors might tackle the most important issues pertaining to the expansion of its biggest clients. With the help of PwC’s network of industry experts and advisors, companies will have access to a customised curriculum that includes seminars, one-on-one mentorship sessions, and demo days. The program’s application period will begin on March 5 and end on May 5. By the end of June, the final selection will be finished.
Rise in Corporate-Backed accelerator Programmes in India
Flipkart Ventures, which offers equity investments up to $500K and mentorship created by a worldwide consulting firm, chose five startups in February for the third batch of its Flipkart Leap Ahead program. Nikhil Kamath, a co-founder of Zerodha, announced the WTFund’s second cohort of nine firms that same month. The fund targets founders under 25 years old and offers awards up to INR 20 lakh. Startups from more than 50 cities submitted proposals to the fund, which provides “no-strings-attached” funds in addition to chances for strategic partnerships and coaching. Other noteworthy accelerator initiatives include 100X and the third cohort of IPV Ideaschool from Inflection Point Ventures, which provides INR 1 Cr in funding to pre-seed to seed stage entrepreneurs.Out of more than 1,900 submissions, 18 startups received an INR 23.3 Cr investment from VCs. SwanariTM TechSprint 3.0, a women-focused fintech program designed to improve financial inclusion for women in India, was also introduced by the Reserve Bank Innovation Hub (RBIH) in collaboration with IIMA Ventures.
Reliance Industries Ltd., a company owned by billionaire Mukesh Ambani, risks penalties for not establishing a battery cell plant as part of Indian Prime Minister Narendra Modi’s initiative to reduce reliance on imports, according to various media reports. Reliance New Energy Ltd., one of the companies that won a bid for battery cell manufacturing in 2022 as part of an Indian government initiative to encourage local production, is subject to fines of up to INR 125 crore ($14.3 million) for failing to meet a deadline. According to reports, Rajesh Exports Ltd., which also filed to produce battery cells under this government program, is also responsible for halting the advanced-chemistry cell development and may face fines of a comparable magnitude.
Why Firms are Failing to Achieve Manufacturing Goals?
Modi’s “Make in India” plan to challenge China as the world’s factory may be thwarted by technological obstacles and changing market dynamics, as seen by the failure to meet state-directed manufacturing targets. Although Modi aimed to increase manufacturing’s proportion of the GDP to 25%, it fell from 15% in 2014 to 13% in 2023. Although local smartphone assembly has benefitted greatly from manufacturer subsidies under the so-called Production-Linked Incentives, or PLI, the results haven’t been consistent across industries.
As part of the nation’s efforts to lessen reliance on imports for electric vehicles, Reliance New Energy, Rajesh Exports, and the Ola Electric Mobility Ltd. unit have won bids in 2022 to construct the battery cell plants under the PLI program. Subsidies totalling INR 18,100 crore were available to manufacturers that met project objectives aimed at developing a total of 30 gigawatt-hours of advanced chemistry cell battery storage capacity. According to the people, the companies had to reach a minimum “committed capacity” and create 25% local value within two years of the agreement and 50% within five. However, the third party, Ola Cell Technologies Pvt., owned by billionaire Bhavish Aggarwal, has fulfilled its obligations under this PLI scheme. According to an emailed statement from an Ola Electric representative, the Ola unit began trial production in March of last year and intends to begin commercial production of lithium-ion cells in the April to June quarter. He declared, “We are on track to meet the set timelines.”
Shifting Focus on Green Hydrogen
As part of a change in the company’s goals, the Reliance unit has shifted its attention to green hydrogen, a fuel that is thought to be essential to a future free of carbon. Additionally, the firms have not yet solidified the technology required for local production of lithium-ion cells. Furthermore, the cost of lithium-ion phosphate, or LFP, batteries has been decreasing globally. As a result, cell imports are now more affordable than ever before, which raises questions about domestic demand and slows down investment in India. While the Netherlands-based Lithium Werks, with its Chinese manufacturing facilities, and sodium-ion cell manufacturer Faradion were acquired by Reliance New Energy in 2021 and 2022, respectively, these were very modest investments.
Tokyo Electron, a partner of Tata Electronics, is the most recent fab toolmaker to consider establishing a manufacturing presence in the nation. The Tokyo Electron India Project’s project director, Vaidya Bharadwaj, told reporters that although localisation is not a top priority right now, Tokyo Electron is keen to meet the demands of the Indian market. For the business, manufacturing entails putting parts together to make sophisticated devices, including test systems, wafer bonders/debonders, etchers, cleaners, and coaters/developers. The majority of this work is currently done in Japan, with a lesser amount being done in the US. According to him, Tokyo Electron’s long-term localisation initiatives include establishing a portion of the supply chain in India.
International Semiconductor Manufacturers Eyeing Big on India
Only a few weeks have passed since California-based semiconductor manufacturer Lam Research announced an INR 10,000 crore investment in Karnataka, which was followed by Tokyo Electron’s recent announcement. According to the corporation, Lam Research’s products are utilised in semiconductor device wiring and wafer processing. The country’s Lam engineers will be able to develop, test, and validate semiconductor production equipment and processes on-site thanks to the new unit. Prior to this, in 2022, Lam Research established its first engineering unit in Bengaluru. It’s interesting to note that last year there were rumours that Applied Materials, another well-known company in this field, was also considering establishing a production facility in India. At the time, it was unclear, though, whether the company would concentrate on manufacturing semiconductors or its core fab tools in India. But according to certain media accounts, it was probably going to start out as a fab tool unit. The major providers that provide services to fab units worldwide are Tokyo Electron, ASML, KLA, Lam Research, and Applied Materials.
India is an Exciting Market: Bharadwaj
India is a fascinating market with a ton of prospects, according to Tokyo Electron’s Bharadwaj, who also stated that the company was keen to collaborate with other companies. According to him, the business has already had conversations with a number of stakeholders and has gotten really encouraging feedback. The Dholera fab support operations are the brand’s top priority right now. “Rapid progress” is being made in delivering specialised equipment while building a strong support environment,” he continued, adding that the company is still dedicated to its cooperation with Tata Electronics. He added that Tokyo Electron is actively looking for sites to install support infrastructure close to Tata Electronics’ semiconductor factory in Dholera. Quick response times depend on being close to customers, and Tokyo Electron’s operations are normally located within a 20-minute radius of a fab.
The company intends to assemble a group of highly skilled engineers in order to create a robust ecosystem of semiconductor support. Although India’s semiconductor industry is still in its infancy, he claimed that the government and industry’s “pragmatic approach” of prioritising legacy nodes before moving on to high-end chips has laid what he called a “solid foundation,” positioning India to become a major investment destination in this sector over the course of the next four to five years. Both businesses inked a Memorandum of Understanding in September of last year to work together to expedite the infrastructure for semiconductor equipment for Tata Electronics’ first Fab in India, which is being constructed in Dholera, Gujarat, as well as for its assembly and testing plant in Jagiroad, Assam.
Nitin Konde
