A concept that formerly appeared to be science fiction is now progressively approaching reality, facilitated by an innovative partnership between Indian Railways and IIT-Madras. Railway Minister Ashwini Vaishnaw recently declared that the ministry will collaborate with a distinguished institute to create advanced Vertical Take-Off and Landing (VTOL) vehicles, which could transform urban mobility in India. TICE provides essential information regarding the government’s strategy.
The Ministry of Railways is financing this ambitious program, which is anticipated to advance India into a new era of innovative transport alternatives. Vaishnaw’s declaration occurred during the virtual concluding ceremony of the Global Hyperloop Competition 2025, organised by IIT-Madras. This initiative corresponds with the government’s broader objective of promoting domestic innovation and establishing India as a frontrunner in modern transportation technologies.
How Do VTOL Vehicles Work?
VTOL vehicles are aircraft that can ascend and descend vertically, analogous to helicopters, yet possess the efficiency and velocity of aeroplanes. In contrast to traditional aircraft that necessitate extensive runways, VTOLs can function from limited areas, rendering them suitable for crowded urban settings. These vehicles may facilitate the development of flying taxis, emergency response air ambulances, and airborne logistics, profoundly altering the transportation of individuals and commodities.
The potential is not limited to that. In addition to passenger transport, VTOLs may be utilised for railway track inspections, aerial surveys, and emergency evacuations, offering Indian Railways a unique instrument to improve efficiency and safety.
Strong Backing from the Government
This partnership highlights the Indian government’s dedication to utilising academia for innovative technological progress. IIT-Madras, recognised for its research in advanced transportation solutions, will be instrumental in building VTOL prototypes and enhancing their design for practical applications. Vaishnaw emphasised that this collaboration signifies a significant advancement in developing indigenous, innovative travel solutions that might position India in the vanguard of the global mobility sector.
The growing number of Indian entrepreneurs entering the advanced air mobility sector will enhance the ecosystem. India’s startup ecosystem is experiencing a proliferation of enterprises dedicated to electric and hybrid aerial transportation, and a government-supported initiative of this magnitude is anticipated to significantly enhance the sector.
Although the potential of VTOL vehicles is promising, regulatory approvals constitute a significant obstacle. In contrast to railways, air mobility solutions are regulated by the Directorate General of Civil Aviation (DGCA) and the Ministry of Civil Aviation (MCA). Any advancement in this domain would require authorisation from these authorities to guarantee airworthiness, safety, and compliance with existing airspace norms.
The MCA acknowledges the need for an efficient regulatory framework and is diligently developing a sandbox environment to test new electric air mobility solutions. The DGCA has established six working groups to investigate various aspects of this technology, including safety protocols and operational feasibility. This is anticipated to offer a systematic framework for startups and industry stakeholders to commercialise their VTOL inventions.
Zomato has invested INR 4,300 crore into Blinkit since acquiring the online grocery delivery service, formerly known as Grofers, in an all-stock deal for INR 4,477 crore in August 2022. Zomato has been investing more in Blinkit, mostly to finance its rapid growth and offset operating losses in the fiercely competitive quick commerce market, according to reports published by various media houses. A media article indicates that Blinkit’s revenues sufficiently cover its operational needs; yet, the burn rate remains elevated due to aggressive expansion and rising marketing expenditures.
This necessitates more capital infusions to stimulate expansion. In a recent interview, Blinkit CEO Albinder Dhindsa expressed a similar perspective, stating that the majority of the company’s expenses arise from expansion efforts. Dhindsa stated that the expenses associated with expansion are inescapable, whether incurred through marketing or idle costs. Based on Blinkit’s growth trends, the company may have managed to offset its expansion expenses, but heightened marketing expenditures have impeded progress.
Funds Pouring in Amid Severe Competition
Blinkit’s primary competitors, Swiggy Instamart and Zepto, have been actively securing funding to broaden their operations. Swiggy secured INR 4,500 crore with its IPO in November 2024, while Zepto has accumulated almost $1.3 billion throughout many investment rounds in the past year. On February 21, Swiggy’s board approved an INR 1,000 crore investment in its supply chain division, Scootsy Logistics, which operates dark stores for Instamart.
Swiggy’s IPO prospectus revealed plans to invest an additional INR 1,300 crore in Scootsy to further expand its dark shop network. To strengthen its market position, Blinkit is adopting an aggressive growth strategy centred on its dark store architecture. As of December 2024, the corporation operated 1,007 dark stores, surpassing its growth target of 1,000 three months in advance. Blinkit has revised their expansion aim to achieve 2,000 dark stores by December 2025 instead of December 2026. Furthermore, Blinkit has broadened its product range to encompass high-value SKUs, such as televisions, laptops, and printers, to enhance the average order value.
Rapid Commerce Conflict
The rapid commerce industry has evolved into a high-cash-burn sector, with companies allocating billions towards expansion and client acquisition. Industry estimates indicate that the aggregate monthly cash burn of rapid commerce entities, including new entrants, ranges between INR 1,300 and 1,500 crore—more than double in recent months.
Despite nearing operational breakeven in Q2 FY25, Blinkit’s losses escalated in Q3 FY25, with operating losses rising to INR 103 crore from INR 8 crore in the preceding quarter. Swiggy reported a net loss of INR 799 crore, while Instamart had an adjusted EBITDA loss of INR 578 crore in Q3, compared to INR 358 crore in Q2. Zomato’s ability to continue investing in Blinkit stems from its financial stability. In November 2024, Zomato secured INR 8,500 crore in a qualified institutional placement (QIP) to enhance its balance sheet and finance its rapid commerce operations. As of December 31, 2024, Zomato possessed cash reserves amounting to INR 19,235 crore, providing adequate liquidity to support Blinkit’s expansion.
IT Minister Ashwini Vaishnaw stated that India aims to develop small language models (SLMs) to address “distinct” issues, in addition to a large language model (LLM). Vaishnaw stated that the government is examining its own digital models with smaller models that can address specific, distinct issues.
During a virtual address at the Nasscom Technology and Leadership Forum 2025, the IT minister stated that the government is concentrating on generating a substantial quantity of non-personal and anonymised datasets for the training of domestically developed fundamental artificial intelligence (AI) models. Vaishnaw also enquired whether the country can establish a robust research foundation. India has established centres of excellence (CoEs), three of which are presently operational, with an additional one allocated in the budget.
Digital Public Infrastructure Acting as a Catalyst
Vasihnaw emphasised that structured data derived from state-supported digital public infrastructure (DPI) will enable India to “distinguish itself” in the forthcoming months and years in the AI competition. Vaishnaw observed that the Centre is utilising AI throughout the India Stack, including services like Digi Yatra, Aadhaar, and UPI. The Minister stated that the outcomes had been exceptional. The efficacy of DPI can be amplified by factors of 10, 15, or even 100, and we incorporate AI in this process.
This will be a significant advantage for us due to our existing foundation. In a virtual fireside chat, Vaishnaw announced that Japan has granted a patent for UPI’s “gateway system.” A distinguished media site reported that the IT minister indicated the nation intends to shift from a services-orientated economy, particularly in IT services, to a product-centric powerhouse in sectors including semiconductors, AI, and consumer electronics. He stated that India’s aspirations in AI surpass simple service delivery or application creation. India might have confined itself to being a hub for use cases and application service provision, but the nation aspires to achieve far greater ambitions.
Government’s Future Plan in the AI Sector
The minister stated that the Centre is pursuing a comprehensive AI strategy, which encompasses the development of indigenous fundamental models, the creation of anonymised non-personal datasets for training, the establishment of centres of excellence for AI research, and the integration of AI education into institutions. The IT minister disclosed that 25 semiconductor products will be developed at the five upcoming semiconductor units in the country, where construction is currently ongoing.
Regarding AI governance, Vaishnaw emphasised that the Centre will maintain a regulatory approach that fosters innovation rather than hinders it. “We must address the potential harm to society and regulate it; yet, we should not allow innovation to be suppressed as has occurred in numerous other nations,” he stated.
This follows closely behind reports indicating that the Centre has received a minimum of 67 proposals for the development of a domestic AI basic model. The government has allegedly received offers for the development of 20 LLMs from domestic AI businesses, including Sarvam AI, CoRover, and Ola’s Krutrim.
In a case filed in the Madras High Court, skilled gaming businesses Games24x7, Junglee Games, and Head Digital Works (A23) have contested the legitimacy of the Tamil Nadu state’s latest regulations pertaining to the real-money gambling (RMG) sector, which went into effect on February 15.
In order to prevent state authorities from taking any coercive action against them, these corporations have filed writ petitions to halt the execution of these restrictions and secure an interim injunction. Additionally, the corporations have asked the court to rule that the law is “arbitrary, void, illegal, and unconstitutional” when it comes to online skill games that are played for cash or other stakes.
The latest setback for an industry already struggling with rising goods and services tax (GST) rates came earlier this month when Tamil Nadu announced a set of state-specific restrictions that imposed time and usage limits on RMG platforms.
The Tamil Nadu Online Gaming Authority (TNOGA) released the rules as part of the state’s larger initiatives to control the rapidly expanding industry. The authority’s action was expected to spark another legal dispute between the state and RMG platforms, according to many media reports earlier.
What New Rules State?
RMG platforms are required to implement “blank hours” between midnight and 5 a.m., which result in the inability to log in during this time frame. In addition, the standards require organisations to allow users to set daily, weekly, and monthly financial limitations and forbid minors from playing real-money games. Platforms could also remind players of their playtime by displaying pop-up warning messages every 30 minutes after they have been playing for more than an hour.
The phrase “ONLINE GAMING IS ADDICTIVE IN NATURE” should be shown on the login pages of RMG apps, along with other warnings concerning the addictive nature of these games. According to the recommendations, RMG apps should also show the fixed monetary limit and the total amount spent thus far in “reasonably bold letters” whenever players deposit money.
Other Measures Companies Need to Maintain
Mandatory Know Your Customer (KYC) verification at account creation is one of the additional steps. A second-layer verification using a One Time Password (OTP) issued to the phone number associated with the Aadhaar number will validate the initial login authentication, which will require KYC verification through Aadhaar.
TNOGA has adopted a “consultative and inclusive approach in draughting regulations aimed at ensuring user protection,” according to Roland Landers, CEO of the All India Gaming Federation (AIGF), a trade association for the skill gaming sector.
He added that certain elements, like the blackout time, can have unforeseen repercussions and might encourage consumers to utilise offshore gambling sites, which present serious concerns to consumer safety and have an effect on both national and economic security.
To make sure the regulations achieve their goals without negatively impacting users or the sector, we are currently concentrating on resolving the implementation issues. AIGF is not currently considering a legal challenge to these regulations. Rather, we are actively collaborating with our members and the authority to support constructive engagement and efficient enforcement,” Landers stated.
Union Finance Minister Nirmala Sitharaman said at the 6th Convocation Ceremony of the Indian Institute of Information Technology (IIIT) Kottayam on 22 February that India is not only embracing AI but is also actively draughting regulations to guarantee its efficient governance. According to her, India is not only at the forefront of the use of artificial intelligence (AI), but it is also influencing its governance through stakeholder participation. The Minister underlined the government’s efforts to boost science, technology, and innovation as well as next-generation industries like drones and space.
Commenting on this development, Rashmi Kulkarni, Co-Founder and Director- IndoAI Technologies Pvt. Ltd. stated, “Developing AI governance regulation in India is taking a step forward for responsible AI development. Defining a regulatory framework is essential for ensuring AI systems are transparent, secure and unbiased. We know now AI is going deeper into important sectors like authentication using face recognition, security and automation, well defined frameworks will be a plus to give clarity on the data privacy and compliance requirements. Finance Minister has taken the opportunity to set global standards by crafting AI regulations that will definitely encourage collaboration between policy makers and industry experts. To build trust in AI, a future proof framework of AI regulations will be the key and which will drive responsible AI development by the experts.”
Echoing similar sentiments, Amit Chandel, Co-Founder and Chief Technology Officer, Olyv, told, “India is taking significant steps towards creating regulations for artificial intelligence (AI) governance, as envisioned by Finance Minister Nirmala Sitharaman. She emphasised the nation’s determination to not only embrace AI technologies but also their responsible application in different sectors. This move is essential for promoting innovation while protecting ethical standards. The Minister pointed out that India is at the forefront of AI adoption, with an emphasis on developing a framework that ensures transparency and accountability. She said, while highlighting the need for a structured approach to AI governance that India is formulating policies that will ensure AI is used responsibly and ethically, following the country’s national values. For tech leaders, this regulatory framework is crucial in helping to address risks involved in deploying AI, including bias and privacy.”
Prime Minter Modi at AI Action Summit in Paris
The Finance Minister mentioned Prime Minister Narendra Modi’s remarks at the recent AI Action Summit in Paris, which India and France co-chaired, when he discussed AI as a global issue rather than merely a domestic one. She emphasised how crucial it is that AI be moral, inclusive, and reliable. The Minister emphasised a number of important programs meant to encourage creativity and independence in India. She underlined the ‘India AI Mission,’ which was initiated with a budget of INR 10,300 crore to finance AI start-ups, create computing infrastructure, develop domestic AI skills, and attract AI talent. Furthermore, in 2023, three Centres of Excellence in Artificial Intelligence were announced, with a focus on Sustainable Cities, Healthcare, and Agriculture. This year’s budget also included a new Centre of Excellence for Education.
Commenting on this development, Dipal Dutta, CEO – RedoQ said, “India’s decision to establish comprehensive AI governance regulations will mark a significant step in the country’s technological advancement. The country is already trying to take a leap in the AI sector with initiatives like the India AI Mission, which aims to boost the infrastructure development and set a foundation for responsible and ethical AI practices. With such initiatives, the country is ensuring that its AI ecosystem grows in a structured and sustainable manner. Prime Minisiter Modi’s recent participation in the Paris AI Summit highlights India’s commitment in engaging in global discussions on AI governance. The proactive stance will ensure that the country’s tech sector remains competitive as Western countries actively frame policies to regulate AI. Theregulatory clarity will encourage investment and allow Indian companies to scale AI-driven solutions with more confidence.”
India’s Space and Technology Progression
The Minister discussed India’s space technology developments, pointing out that IN-SPACe has inked more than 70 Memorandums of Understanding (MoUs) with non-governmental entities (NGEs) to facilitate space operations. In addition, she emphasised the National Green Hydrogen Mission, which was established in January 2023 with a five-year budget of INR 20,000 crore with the goal of making India a global centre for the production, use, and export of green hydrogen and its byproducts.
Using programs like the India Semiconductor Mission (2021), the National Quantum Mission (2023), and the creation of a ‘Anusandhan’ corpus of Rs1 lakh crore for long-term funding of research in emerging fields, the Minister reaffirmed the government’s commitment to promoting research and innovation.
She also emphasised the establishment of five National Centres of Excellence for Skilling to give young people industrial skills and the proposal for 10,000 PM Research Fellowships for technological research at IITs and IISc. India’s position in the Global Innovation Index has risen dramatically, she noted, going from 81st in 2015 to 39th in 2024. Additionally, the nation’s patent-to-GDP ratio has grown significantly, rising from 144 in 2013 to 381 in 2023.
Furthermore, according to the World Intellectual Property Organization (WIPO) in 2023, India now ranks sixth globally in intellectual property registrations and seventh in terms of intangible asset intensity. India’s advancement towards greater innovation and independence is reflected in its increased Network Readiness Index ranking, which rose from 79th in 2019 to 49th in 2024.
The Minister underlined that the government has gathered a lot of feedback from interested parties and is constantly developing regulations to guarantee AI gets the attention it needs. She underlined India’s proactive involvement in creating international AI regulations and confirmed the country’s leadership in AI adoption and governance.
Chamath Palihapitiya is a Sri Lankan-born Canadian Silicon Valley entrepreneur and venture capitalist. He worked as a senior executive at Facebook from 2007 to 2011, after which he founded Social Capital. He is also one of the hosts of the tech podcast All-in with David Friedberg, David Sacks, and Jason Calacanis.
Chamath Palihapitiya – Biography
Name
Chamath Palihapitiya
Born
3rd September 1976
Birthplace
Galle, Sri Lanka
Nationality
Canadian
Education
University of Waterloo ( BASc)
Occupation
Businessman – Entrepreneur – Venture Capitalist
Spouse
Brigette Lau ( divorced 2018 ), Nathalie Dompe ( 2023)
Chamath was born in Galle, Sri Lanka, but moved to Canada at 5 years of age when his father was posted at the Sri Lankan High Commission in Ottawa. When his father’s diplomatic posting ended in 1986, his family sought asylum in Canada due to his father’s political stand against the violence against Tamils during the Sri Lankan Civil War.
He grew up in difficult economic circumstances, as his father struggled with unemployment and alcoholism. His mother supported the family by working housekeeping jobs. From 14 years of age, Chamath worked at Burger King to support his family. While working, he attended the Lisgar Collegiate Institute and later completed his degree in Electrical Engineering from the University of Waterloo.
Chamath Palihapitiya – Career Highlights
Beginning his career in – 2004-2011 – Winamp, AOL, Mayfield, and Facebook
Chamath started his tech career with Winamp, which was later acquired by AOL. He became the youngest VP and headed its instant messaging division in 2004. In 2005, he left AOL and joined Mayfield Fund. But in 2007, he left Mayfield and later joined Facebook.
At Facebook, his first year was very tumultuous. He led the release of Facebook Beacon, the advertising system that failed. It soon became the subject of multiple lawsuits. His next focus was on new user growth, and after four years, Facebook reached 1 billion users. He then led Facebook Home and Facebook Phone projects and soon left.
In 2011, he left Facebook and started the Social Capital Partnership with his wife, Brigette Lau. In 2015 he later changed the company name to Social Capital. Chamath invested the funds in a number of companies, such as Yammer, Glooko, Inc., Box, SecondMarket, and Slack. In 2015, Social Capital had more than $1.1 billion in assets from external investors.
In 2018, Social Capital saw a decrease in funding operations and a significant change in top management and co-founders. Axios reported that Chamath spent more time on his new girlfriend in Europe rather than showing up to the office or answering emails. The firm then returned to investor capital and converted it into a family office. In 2019, Chamath stepped down as a Board Member of Slack.
Transitioning to single-GP technology holding company
In 2018, Chamath transitioned Social Capital to a single GP firm and commented that he wanted to return to his first principles and restructure the firm to align it better with the long-term goals of entrepreneurs.
After that, Social Capital has made investments in three main areas: life sciences, climate science, and biotech. It also invested in the decentralization of the digital economy through platforms such as digital assets, blockchain, and crypto.
The SPAC Platform
In 2019, Chamath helped make Virgin Galactic go public via a Special Purpose Acquisition Company (SPAC). But in 2021, he sold the stakes in the company for around $213 million and in 2022, he stepped down as the Chairman of the company.
In 2020, the brand took over Opendor, an online real estate marketplace, and made it public via SPAC. The brand raised over $1 billion through a merger – over $400 million came directly from SPAC, and the other $600 million through PIPE investors. Chamath himself put in $100 million.
In 2021, he planned to take over SoFi, a financial service platform, and Clover Health, a Medicare insurance brand. But both takeovers received heavy criticism from the Financial Times who commented that he is ‘shilling risky reverse-mergers to retail investors on an almost bimonthly basis’.
After the Clover Health merger, Hindenburg Research issued a report accusing Chamath of luring investors into broken businesses and argued that he deceived them into investing in failed businesses. In the Clover Health merger, Chamath made over $290 million based on a simple 25K investment. Also, the Clover Health CEO’s previous organization, CarePoint Health, was accused of price gouging clients.
As per the New Jersey commission, he siphoned off over $150 million for himself and his friends. This caused the company to go into bankruptcy and caused a major hospital crisis in New Jersey. Based on this research, the Securities and Exchange Commission opened an investigation on 4th February.
In the GameStop short squeeze, Chamath called out Robinhood and its founders as unethical because they sold payment for order flow to HFT firms like Citadel Securities and made his fans switch over to SoFi. SoFi was merging with his SPAC but he failed to mention that the brand employed the same practice of order flow to HFT firms.
In 2021, Social Capital filed four new SPACs that focused more on biotechnology companies under the stock tickers DNAA through DNAD. In 2020, the brand acquired the texting app Hustle, with Chamath taking over as the CEO in 2023.
The acting director of the SEC’s Corporate finance division, John Coates, criticized Chamath for his views on the benefits of SPACs over traditional IPOs. Coates commented that a judge could rule a SPAC similar to an IPO, something that Chamath promised could be avoided.
Chamath Palihapitiya – Investment
When working for Facebook, Chamath invested in multiple start-ups through the venture capital fund company Embarcadero Ventures. In 2010, he helped buy the Golden State Warriors for $450 million and is a board member for the team. In 2022, his 10% stake brought him a 2000% return – over $520 million from just a $25 million investment.
Chamath Palihapitiya – Philanthropy
Chamath donated over $25 million to his alma mater, the University of Waterloo, for the engineering department in 2018. In 2021, he donated over $7 million to offer clean drinking water to over 1000 families in California’s Central Valley through the partnership with One2One and Source Global.
Chamath Palihapitiya – Political Role
Chamath was initially a supporter of the Democratic Party and donated over $1.3 million in 2021. In 2020 he had commented to the New York Times that he wanted Michael Bloomberg as the presidential candidate along with Amy Klobuchar or Elizabeth Warren.
But recently, he shifted to the Republican Party. In 2011, he donated over $7500 to the US Senate candidate Ted Cruz. In 2023, Chamath hosted the $50,000 per plate fundraiser for Vivek Ramaswamy, the presidential candidate. In 2024, he was also a part of the committee for the Donald Trump fundraiser hosted by David Sacks. He was also the co-host with Jacqueline Sacks and helped raise over $12 million in 2024.
Chamath is one of the Founders of the group FWD.us, launched in 2013 with the goal of improving education, bringing in immigration reform, and enabling technological innovation. In the Bloomberg The Next Big Thing conference, Chamath critically rebuked San Francisco’s mayor Ed Lee, and proposed the city provide subsidized housing for low-income residents that were to be funded by taxes paid by startups.
In January 2021, Chamath challenged the then Governor Gavin Newsom in the event he was recalled. He promised that he would cut state income taxes from 16% to 0% and would offer free education vouchers and a two thousand dollar credit for every child born in California. He even had a campaign website. But in February, he declared that he would not run for governor.
Chamath Palihapitiya- Personal Life
After Chamath graduated from the University of Waterloo, he followed his then-wife, Brigette Lau, to California. They were married and he had three children with her. Sadly, they divorced in 2018. In 2023, he married Nathalie Dompe, the Italian business executive, and has two children together.
Chamath Palihapitiya – Facts
Chamath is an accomplished poker player and has competed in both the World Series of Poker and World Poker Tour events. He won over $175,800.
In 2020, he bought a $75 million Bombardier Global 7500
Chamath has a 10% stake in the Golden State Warriors worth over $520 million.
He commented that he regretted helping Facebook become one of the largest social media platforms.
FAQs
Who is Chamath Palihapitiya?
Chamath Palihapitiya is a venture capitalist, entrepreneur, and former Facebook executive. He’s known for his early investments in tech companies and his prominent role in the Special Purpose Acquisition Company (SPAC) market.
What was Chamath Palihapitiya’s role at Facebook?
Palihapitiya joined Facebook in 2007 and led the platform’s user growth team. He played a key role in expanding Facebook’s user base.
Why is Chamath Palihapitiya interested in SPACs?
Palihapitiya believes SPACs offer a more efficient way for promising companies to access public markets, democratizing access to investment opportunities and disrupting traditional IPO processes.
Tata Capital, the financial services arm of the Tata Group, has received board approval to proceed with an initial public offering (IPO). The company plans to issue 23 crore new shares and allow existing shareholders to sell their stakes through an offer for sale. This move complies with the Reserve Bank of India’s mandate requiring “upper layer” non-banking financial companies (NBFCs) to list by September 2025. This IPO marks the first for the Tata Group since Tata Technologies went public in November 2023.
Ownership and Business Details
Tata Capital was founded in 2007 and offers different types of loans, including home and personal loans. As of March 2024, Tata Sons owns 92.8% of the company. Other Tata Group firms, select officials, external organizations, and the International Finance Corporation (IFC) hold the remaining shares.
INR 1,504 Crore Rights Issue
Along with the IPO, Tata Capital’s board has approved an INR 1,504 crore rights issue for existing shareholders. A rights issue allows current shareholders to buy more shares at a fixed price. This helps companies raise money without determining a market price through a public listing.
To prevent further expansion of its shareholder base, Tata Capital has introduced a provision preventing shareholders from waiving their rights in the rights issue until the company’s shares are listed on stock exchanges.
Market Impact
After reports that Tata Capital secured board approval for its IPO, shares of Tata Investment Corporation surged over 10%, reaching an intraday high of INR 6,344 on the BSE. This sharp rise came after Tata Capital approved its plan to go public, showing strong investor optimism about the upcoming IPO.
Why This Matters
The RBI wants large NBFCs to go public to improve transparency and governance in the financial sector. Tata Capital’s decision to launch an IPO follows this guideline and strengthens its position in the market.
While the company has not yet shared details about pricing or dates, the IPO is expected to draw strong interest. The Tata Group is a well-known group, and Tata Capital is a key player in financial services.
In summary, Tata Capital’s IPO and INR 1,504 crore rights issue mark a big step for the company. It helps meet RBI rules and prepares Tata Capital for growth in the stock market.
Super 30 is an Indian instructive program initiated in Patna, India under the aegis of Ramanujan School of Mathematics. It was established by Anand Kumar, a science instructor, and Abhayanand, the previous D.G.P of Bihar. The program chooses 30 capable competitors every year from financially oppressed areas of Indian culture and prepares them for the JEE. The program is depicted in the 2019 film, Super 30, featuring Hrithik Roshan as Kumar. Anand Kumar and his school have been the subject of a few slanderous attacks, some of which have been conveyed in Indian media sources.
Let’s learn about Anand Kumar’s story, his personal life, education, Super 30, awards, achievements, and more.
Anand Kumar was born in Bihar, India, to a father who worked as a clerk in the postal department. Due to financial challenges, his family couldn’t afford private school, so Anand attended a government school where he developed a strong interest in mathematics. He studied at Patna High School and later submitted papers on number theory that were published in the Mathematical Spectrum. Anand was accepted into the University of Cambridge but couldn’t attend due to his father’s death and financial difficulties.
Anand Kumar – Personal Life
In 2019, Anand Kumar shared that he has been battling acoustic neuroma, a rare brain tumor, which has caused him to lose 80-90% of his hearing in his right ear. He is currently being treated at Hinduja Hospital in Mumbai. Anand is married to Ritu Rashmi, and they have a son named Jagat Kumar.
Anand Kumar – Super30
Anand Kumar – Super30
In 2002, Abhayanand and Anand Kumar began Super 30 with the arrangement to choose 30 skilled understudies from financially ruined areas who couldn’t manage the cost of training for JEE—the entrance examination for securing admission to the coveted Indian Institute of Technology (IIT). These 30 understudies were then arranged to pass IIT-JEE assessments. Anand Kumar’s mom, Jayanti Devi, volunteered to cook for the understudies while Anand, Abhayanand, and different instructors mentored them. The understudies were additionally given investigation materials and a hostel for a year free of cost.
In the primary year of the training, 18 out of 30 understudies made it to IIT. The next year, application numbers bumped up because of the program’s ubiquity. In 2004, 22 out of 30 understudies were equipped for IIT-JEE, expanding the fame of the program which pulled in significantly more applications. In 2005, 26 out of 30 understudies cleared the IIT-JEE test, while 28 made it in 2006—despite the change in the assessment structure by the authorities. In valuation for their endeavors, the Chief Minister of Bihar at the time, Nitish Kumar, saluted the understudies with a monetary prize of ₹50,000 each.
An inspiring session by Anand Kumar, the fame of Super 30.
The next year 28 additional understudies cleared the IIT-JEE, and in 2008, the majority of the Super 30 understudies cleared the IIT-JEE after which Abhayanand quit Super 30 saying, “The investigation is over.” Some of Kumar’s previous understudies joined as Super 30 educators and in 2009 and 2010 one of the 30 understudies again qualified for the IIT JEE tests. In the resulting years, the achievement rates from the 30 understudies were: 2011 (24 passed), 2012 (27 passed), 2013 (28 passed), 2014 (27 passed), 2015 (25 passed), and 2016 (28 passed). In 2017, all Super 30 competitors made it to the IIT-JEE. In 2018, 26 of the 30 understudies cleared the exam.
Anand Kumar – Career Highlights
Anand Kumar’s journey is a story of perseverance, hard work, and dedication to education. Anand got admission to Cambridge University but had to give up the opportunity due to his dad’s passing and his fiscal condition. Kumar examined science during the daytime and sold papads at night with his mom to gain bread and butter for the family. To gain additional cash, he coached understudies in maths. Since Patna University library didn’t have outside diaries, for his own investigation, he would travel at the end of the week on a six-hour train adventure to Varanasi, where his more youthful sibling, learning violin under N. Rajam had a lodging room. In this manner, he would spend Saturday and Sunday at the Central Library, BHU, and travel to Patna on Monday morning.
He leased a study hall for Rs 500 per month and started his Super own establishment, the Ramanujan School of Mathematics (RSM). Within the space of a year, his class developed from two understudies to thirty-six, and following three years there were just about 500 understudies selected. At that point in mid-2000, a poor understudy came to him looking for IIT-JEE tutorship but couldn’t manage the cost of the yearly affirmation expense because of destitution. This inspired Kumar to begin the Super 30 program in 2003, for which he is presently notable.
Consistently in August since 2003, the Ramanujan School of Mathematics, presently a trust, holds a focused test to choose 30 understudies for the ‘Super 30’ plot. Around 4,000 to 5,000 understudies show up at the test, and in the long run, he takes thirty clever understudies from financially in reverse segments which include homeless people, sellers, auto-drivers youngsters, guides them, and gives study materials and hostel for a year. He sets them up for the Joint Entrance Examination for the Indian Institutes of Technology (IIT). His mom, Jayanti Devi, cooks for the understudies, and his sibling Pranav Kumar deals with the administration.
Anand Kumar celebrating victory with his students.
Out of 270 understudies he guided from 2002-2011, 236 understudies have secured admission to the IITs. Each one of these 236 pupils originated from a poor foundation their folks were Hawkers, Auto-drivers, workers, and so on. During 2003-2009, 182 understudies out of 210 have made it to the IITs. In 2010, one of the understudies of Super 30 cleared the IIT JEE passageway making it a three-of-the-line for the foundation. Anand’s work is generally welcomed throughout the world. USA’s former president Barack Obama read about Anand in TIME magazine and sent an exceptional agent to check the work done by him and offered all the help. Anand never acknowledges help independently of their partner. Revelation Channel broadcasted a 60-minute length program on Super 30, and a large portion of a page has been committed to Kumar in The New York Times.
Anand Kumar receiving the prestigious Padma Shri Award from President Droupadi Murmu
2018: Anand Kumar was awarded the Mahaveer Award in Chennai for excellence in human endeavor in the field of Education by the Bhagwan Mahaveer Foundation.
8 November 2018: He received the Global Education Award 2018 from Malabar Gold & Diamonds in Dubai for his pioneering work in education.
2019: Anand Kumar was honored with the Education Excellence Award 2019 by the Foundation For Excellence (FFE) in San Jose, California, USA.
10 March 2022: He was awarded the Bharat Ganit Ratna Award 2022 by DASA India, presented by Anjan Banik, National Chairman of DASA India.
2023: Anand Kumar received the Padma Shri from the Government of India for his contributions to literature and education.
The principle goal of Super 30 is to follow the gifted bundle of understudies from financially devastating segments and sharpen their aptitudes by giving a favorable domain. Ability knows no limits. It is all over the place. Super 30’s outcomes have been empowering. The skilled understudies have been given i.e. quality education and an open environment to perform to the best of their potential are noteworthy. The understudies ought not to be crippled by the monetary limitations of their families. Having trained the understudies for a long time Anand has now understood the significance of ‘getting them youthful’.
FAQs
Who is Anand Kumar of Super30?
Anand Kumar is an Indian mathematician and educationalist. He was raised in Patna, Bihar. He is notable for his Super 30 class which he initiated in Patna.
What is Anand Kumar Education?
Anand Kumar is a Graduate. He got admission to Cambridge University but could not pursue his education due to financial issues in his family.
Who is the Founder of Ramanujan School of Mathematics?
Ramanujan School of Mathematics was established by Anand Kumar, a science instructor, and Abhayanand, the previous D.G.P of Bihar.
What is Super 30?
Super 30 is an Indian instructive program initiated in Patna, India under the aegis of Ramanujan School of Mathematics.
What does the Super 30 program do?
The program chooses 30 capable competitive students every year from financially oppressed areas of Indian culture and prepares them for the IIT JEE.
Is the Super 30 a real story?
Super 30 movie is real story based on the life of Anand Kumar, who set up a coaching institute to prepare poor students in Patna for the IIT-JEE.
Who is Super 30 real hero?
The real hero of Super 30 is Anand Kumar, an Indian mathematician and educator who founded the Super 30 program to help underprivileged students crack the IIT-JEE entrance exam.
Festive seasons are always the best time to promote your products. There is a huge potential to increase the sale of your products and services by reaching new customers on such occasions.
Holi is defined as the festival of colors, which signifies the end of winter and the start of the season of blossoms. This particular festival is steeped in the Hindu tradition and resonates beautifully with the people of India. Along with bringing happiness to individuals, Holi, as a festival, also has the potential to usher in prosperity for businesses.
If you are wondering about marketing your brand during Holi, then here are some of the best marketing strategies that you can use to promote your products and services during the festival of colors.
You can create a social media post or a Holi social media campaigns as a marketing strategy for Holi. You can create an image or a video where your product or service is advertised through the Holi theme. It can mainly include something related to colors. You can create any post with the theme colours for the Holi social media posts.
You should ensure it is creative and related to your product or service. Creative posts catch the audience’s attention, which will help you increase the brand value of your product or service.
Social media is the best medium to market your products, as most of them use it. It is also one of the cheapest forms of promotion. 61% of Indian consumers have said that they make their buying decisions through social media posts, according to a report by Economic Times.
Providing discounts and offers during the festivals gives your customers a reason to buy the product. Always try reaching a lot of people through promotions and word of mouth. Discounts during the festivals will increase your sales and make the customers happy.
Discounts and services will motivate your customers to use the products or services and purchase them.
86% of Indian consumers look forward to shopping during the festival season, according to a report, which further multiplies the chances of sales and with lucrative discounts and never-seen-before offers, they simply cannot miss the chance to shop their favourite products during this time.
Sale Days
If you have an e-commerce website, then you can bring in Sale days for the festive seasons. You can provide offers on a certain set of products for some days during the festive season.
As per the report mentioned earlier, 86% prefer shopping during the festive season, out of which 57% prefer shopping through e-commerce websites. You can use social media posts to promote discounts and offers.
Customized products
You can try customizing your product according to the Holi theme. This will increase your sales and will also act as a marketing strategy for your brand.
Consumers would prefer gifting their friends and families with customized gifts that are unique. The total size of the gifting market in India is 250,000 crore and is expected to grow by over 200%, according to Technopark, which is India’s leading. Management consulting firm.
However, customized gifts are time-consuming and would increase the cost of production. If you have a small business, then you can provide a small Holi basket for different price ranges.
You can start different marketing campaigns during Holi. It can be online through social media or through offline events. Try relating it to the theme of Holi. You can set a specific goal and try to achieve it by promoting the campaigns through a single mode or through different modes.
Campaigns are mostly promoted through taglines. The Holi sale taglines will help consumers remember your product and, thereby, increase overall brand awareness. Furthermore, the Holi taglines are really something that most marketers, brands, startups, entrepreneurs, and others cannot simply miss out on!
Social media campaigns’ goals are mostly concentrated on getting feedback from consumers, increasing the traffic on your websites, and building email marketing lists, which would help drive your sales directly.
Offline campaigns can include billboard posters, guerilla marketing, print ads, etc. These are mostly for the bigger business. If you have a smaller business, you can prefer social media campaigns. But ensure that you stick to the theme of Holi and colours. For Holi digital marketing, brands can use user-generated content, influencer partnerships, vibrant visuals, and limited-time promotions to create an engaging and festive campaign that resonates with customers.
Holi Marketing Campaign by TVS Motor Company
Collaboration Initiatives
Collaboration initiatives, also known as partnering marketing, involve working together with other brands and artists to increase your brand’s visibility in the market. This strengthens your presence and enhances your market expansion processes.
During the Holi season, which is known for its colourful celebrations of dance, music, and more, you have many opportunities to collaborate with different artists, such as painters, musicians, dancers, and more. This can create an arresting presence that generates curiosity and buzz for your brand among your audience. It can also showcase the culture and richness behind your idea. Additionally, you can choose to collaborate with NGOs and showcase the goodness of your brand in contributing to community development.
Expanding your network is crucial for a successful campaign. Contacts play a significant role in this regard. There are different ways to increase your reach, such as email marketing, trade shows, exhibitions, hosting events, and engaging on social media. The Holi season offers various opportunities to boost your contacts. You can attend fairs, flea markets, and trade exhibitions, introduce your products, and make people aware of your brand. By leveraging these opportunities, you can expand your horizons.
Guerilla Marketing
Guerrilla marketing is a smart advertising and marketing technique that allows brands to promote their product or service through unique and unconventional methods. The best part is that it doesn’t require a huge budget, just creativity and intelligence to execute. The main goal is to quickly capture the attention of your audience, creating a reaction that generates greater revenue for your brand. When done correctly, guerrilla marketing can reduce marketing costs by up to 90%. Research shows that 57% of customers believe it to be an effective tactic, and 42% of millennials agree that it influences their purchasing decisions.
Referral Campaigns
Referral campaigns are highly popular among new businesses as they strive for exponential growth. Research shows that as many as 86% of B2B buyers rely on the power of word-of-mouth to make purchase decisions. By leveraging referral campaigns, you can build strong relationships with your existing customers and enable them to promote your brand through word-of-mouth marketing techniques, thus expanding your market reach. With Holi around the corner, you can gain even greater traction.
One of the Holi campaign ideas to consider is organizing a referral program where customers are incentivized to refer their family and friends in exchange for exclusive discounts or rewards. According to studies, nearly 92% of customers trust referrals from their family and friends over other forms of advertising. Such campaigns not only capitalize on the festive spirit but also harness the power of trusted recommendations to bolster brand visibility and credibility.
Holi presents a great opportunity for brands to introduce new products or services that are relevant to the holiday. For example, a cosmetic brand can launch a range of makeup products with Holi-inspired themes, while a food brand can introduce a new line of Holi sweets and snacks. This not only creates excitement and interest around the brand but also positions it as being in sync with the festive spirit.
Campaigns through User-generated Content
Holi is a time for families and friends to come together and celebrate. Businesses can use this to connect with their customers by creating marketing campaigns that include user-generated content (UGC). Brands can ask their followers to share their Holi moments, photos, and videos as part of the campaign. This helps increase interaction and makes the brand feel more relatable. It also makes customers feel recognized and valued.
UGC leads to 29% higher conversion rates than other marketing methods. Also, 70% of brands believe that UGC helps them build stronger connections with their customers on social media.
Other Strategies
You can choose other strategies according to your budget, including traditional TV or newspaper advertisements; you can partner with new movie releases and organize some promotional events with them, as a wide range of superhit movies will be released during the festive seasons. This can increase sales and improve your brand name.
You can become a sponsor for certain events happening in and around the country. However, the events this year would be less crowded compared to previous years due to the Covid-19 restrictions.
Moreover, you can create some Holi-themed competitions and provide attractive prizes for the winners. Through this, you can increase the promotion of your brand and create awareness about your brand.
Through competitions, you can even collect information and contact details of your customers. This will help you promote your products and offers in the future. You can also follow up with them.
Conclusion
These are some marketing strategies that your business can use this Holi. These marketing strategies will leave a mark on your brand in the customers’ minds. They can create a lasting impression on both customers and your investors. However, always remember that a unique advertisement/campaign built on a strong value always wins the game. So, start preparing your marketing campaign as early as possible to seize your day!
FAQs
What is Holi?
Holi is the Indian festival of colours, which signifies the start of spring, the season of blossoms after the mournful, lack-lustre winter days.
What is Holi marketing?
Marketing is always important for your brand, and Holi is one such festival full of happiness and colours that fuel a good deal of marketing, too. Therefore, Holi marketing is something that you should not be missing out on if you are an entrepreneur, an owner of a brand, or a marketer at one of them.
What are Holi taglines, and why are they important for marketing?
Holi taglines are short, attractive one-liners used for marketing during the Holi festival. These Holi taglines etch the brand image and are filled with all the colours of the festival, which plays an important role in brand marketing.
Why should you create Holi social media posts?
Social media plays a crucial role in today’s marketing landscape. So, social media platforms are often used for marketing a brand, where marketers create unique, creative social media posts during festivals like Holi to attract their customers. The Holi social media posts can be used for the basic promotion of the brand and its products, as well as to promote discounts and offers or the launch of something new for a particular brand.
What are the best Holi promotional ideas or Holi advertisement ideas?
If you are wondering about some of the best Holi promotional ideas, then here are some of them you can check out:
Social media posts – You can always use unique social media posts to attract your customers and inform them about the new launches, offers, and discounts.
Offers and discounts – Product discounts are something that you can certainly bring in during Holi. While the customers have a huge propensity to buy during these festivals, exclusive offers and discounts can win their hearts and increase your brand sales.
Sale – Festival Sale is becoming a rage these days. If you are in doubt regarding the best Holi promotional ideas, launching a Holi Sale is a foolproof idea!
Advertisements on television and online
Distributing customized products for Holi
Launching Holi campaigns
Which are the creative Holi taglines that the brands have used?
“Add a splash of colour to your beauty routine this Holi!” – Cosmetic Brand
“Indulge in the sweetness of Holi with our delectable treats!” – Food Brand
Which are the best Holi business ideas?
Launching a line of Holi-themed cosmetics or skincare products.
Creating a range of Holi-inspired sweets and snacks for the festive season.
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Life is risky and uncertain. We don’t know what is waiting for us. One may face an untimely death or lose a limb at a time. Accidents do not appear after knocking on your front door, we just meet with them unexpectedly.
Digit Insurance is a security provider for all the insecurities that may occur in one’s life. It has a range of insurance policies such as Bike Insurance, Commercial Vehicle Policy, Car Insurance Policy, Health and Travel Insurance Policies, and more, which are aimed at getting its users covered without any hassles. Read the Digit Insurance success story below, where you will get to know everything about Digit, its Startup Story, Founders and Team, Business Model, Revenue Model, Funding and investors, Challenges,and more.
Digit Insurance is a Bengaluru-based general insurance and financial services company. Its mission is to make insurance simple for the common people. Digit General Insurance has come up with numerous insurance plans that can be primarily categorized as:
Go Digit health insurance
Go Digit car insurance
Digit 2-wheeler insurance or GoDigit bike insurance for bikes
Go Digit commercial vehicle insurance
Go Digit travel insurance
Digit Insurance – Startup Story
Previously bread had to be sliced from loaves. It wasn’t simpler like today’s slices. People find insurance to be like those unsliced loaves. Customers also don’t understand which plan is appropriate for whom. The company believes that this thinking can be changed. With this Digit Insurance started making insurance simple with an aim to go back to the basics and simpler transparent insurance solutions. Simple meant no twisted rules. The company needed a simple name and hence it found the name digit to be perfect and appropriate for them.
Digit Insurance – Founder and Team
Kamesh Goyal
Kamesh Goyal is the Founder and the Chairman of the company, Digit Insurance. He previously worked at Allianz Insurance as the Head of Asset Management and Group Planning and Controlling. He was also the Regional Chief Executive Officer there. Goyal also served as the Chief Executive Officer, Chief Operating Officer, and Country Manager at Bajaj Allianz. The Digit owner began his career as a Manager at KPMG, India. He pursued B.A. LLB and also completed his Master’s in Business Administration from Delhi University.
Kamesh Goyal, Chairman & Founder, Digit Insurance
On the appointment of Jasleen as the new MD and CEO of Digit Insurance, taking over Vijay Kumar, Kamesh Goyal, the Chairman of Digit Insurance, said, “The bold ideas that Vijay brought to the table and the guidance he provided across the board will surely be missed by all our colleagues including me. Jasleen’s agile market strategies and her prudent operational planning have aided the company in expanding its presence at an accelerated pace despite the pandemic. Her people and result-oriented focus will surely put Digit on the path of rapid growth that we have all envisioned.”
Philip Varghese
Philip Varghese currently serves as the Executive Director of Digit Insurance. Philip started as the Manager of Projects at Allianz after his brief stint at Alpic Finance. He then served as the Senior Manager of Property Underwriting, CIO, and CIO & Head Direct at Bajaj Allianz General Insurance. Varghese then joined Bajaj Allianz Life, where he served as a CEO and COO before joining as the Board Member of Allianz Technology. Philip eventually joined Digit Insurance at a very early stage, when he teamed with the founder of Digit.
Philip Varghese, Executive Director of Digit Insurance
Vijay Kumar
Vijay Kumar served as the CEO and Principal Officer at Digit Insurance before the job role of MD and CEO was announced to go to Jasleen Kohli, who will be assuming the position effective from April 20, 2022. Starting as the Senior Executive Service & Quality at Kirloskar Pneumatic Company, Vijay Kumar has served in a range of companies in key leadership positions including Maruti Udyog Ltd, Hyundai Motor India Ltd., and Bajaj Allianz, before joining Digit. Vijay Kumar served as the CEO of the organization since Digit was founded in 2017, and his superannuation is dated April 19, 2022.
Vijay Kumar, Principal Officer of Digit Insurance
Vijay Kumar, on his retirement said, “I have had a fulfilling inning at Digit and I’m happy to see this baby grow into a giant player in such a short span of time. I am confident Jasleen will execute Digit’s ambitious growth plans with ease and take the company to greater heights in the coming years. As a passionate veteran of this industry, I will keenly keep an eye on Digit as it transforms the insurance space through its tech capabilities in the coming years.”
Jasleen Kohli
Jasleen Kohli has been appointed as the MD and CEO of Digit Insurance, effective from April 20, 2022. Kohli has previously worked as the Chief Distribution Officer (CDO), has been working with Digit since the inception of the company, better known as the first employee of the company. As part of her responsibilities as the CDO of Digit, Jasleen had to oversee all the sales and distribution channels of Digit. Kohli is brimming with experience too, with around 19 years of experience in the life and general insurance industry. Allianz Technology was the last company that Kohli worked with as a Director before she joined Digit. Jasleen Kohli is aged 42 now, and with her latest appointment, she will become one of the youngest CEOs in the insurance industry.
On her appointment announcement as the new MD and CEO of Digit, Jasleen Kohli said, “I am delighted about this new responsibility entrusted in me by the Digit team. While it will be hard to fill Vijay’s experienced shoes, I am excited about this challenge.”
Appointments followed with the announcement of Jasleen Kohli as the MD and CEO. The company also promoted Adarsh Agarwal from the role of Appointed Actuary to Chief Distribution Officer (corporate business). The former position of Adarsh Agarwal has been filed by Nikhil Kamdar, who became the new Appointed Actuary, as per the reports dated April 19, 2022.
Sriram Shankar was another Digit executive, who has been a part of the early leadership team of Digit. Since Shankar left Digit in August 2018, he has served Goodera as a Business head and eventually co-founded Findeed.
Digit Insurance currently works with over 1000 employees.
Digit Insurance – Logo
Digit Insurance Logo
Digit Insurance – Business Model
The Digit Insurance business model works just like the business models that the insurance companies opt for, the only difference is that Digit aims to introduce a range of new products and services to disrupt the Indian general insurance sector. It holds a general insurance license, which allows the company to sell health insurance products. Car and home insurance are common but Digital Insurance provides jewellery and mobile insurance as well. Furthermore, the company is redefining the insurance industry by working digitally. Its business strategy is to create beneficial partnerships with various companies.
Among various other insurance plans, Digit is one of the insurance companies that launched Go Digit Covid insurance. The coronavirus health insurance of the company is similar to a customized health insurance policy, which helps to cover the hospitalization and treatment costs of the COVID-19 infected persons who have previously registered with Digit.
Digit Insurance earns the majority of its revenues from its business line of products which includes its insurance plans and their premiums. The general insurance company extends a wide range of insurance plans for health, motor, and travel. Digit clocked in $400 million in annual premiums when last recorded in October 2021.
Digit Insurance – Funding and Investors
Digit Insurance funding has seen it rise to unicorn status in 2021. The company has raised around $585.6 million in funding over the 9 funding rounds that it saw. The latest funding round that Digit witnessed on January 18, 2022, came from Wellington Hadley Harbor and Ithan Creek Master Investors, where the company raised $70 mn.
The valuation of the company is estimated at $3 billion, as of May 2024.
Date
Transaction Name
Money Raised
Lead Investors
May 4, 2022
Venture Round
INR 41.7 crore
–
January 18, 2022
Venture Round
$70 million
Wellington Hadley Harbor and Ithan Creek Master Investors.
August 26, 2021
Venture Round
$16.09 million
TVS Capital Funds
July 2, 2021
Venture Round
$200 million
Sequoia Capital India, IIFL Alternate Asset Managers, Faering Capital and more
January 16, 2021
Venture Round
$18.77 million
A91 Partners, TVS Capital, Faering Capital
January 21, 2020
Venture Round
$84 million
A91 Partners, Faering Capital, TVS Capital Funds
June 5, 2019
Venture Round
$50 million
Fairfax Financial Holdings
July 3, 2018
Venture Round
$45 million
Fairfax Financial Holdings
June 1, 2017
Venture Round
$47 million
Fairfax Financial Holdings
Digit Insurance is funded by 4 lead investors. IIFL Asset Management and Faering Capital are the most recent investors of the firm.
Digit Insurance IPO
Go Digit IPO raised INR 2,614.65 crore, with a fresh issue of 4.14 crore shares (INR 1,125 crore) and an offer for sale of 5.48 crore shares (INR 1,489.65 crore). The IPO was open from May 15 to May 17, 2024, with allotment finalized on May 21 and listing on BSE and NSE on May 23. The price band was INR 272 per share. Retail investors could apply with a minimum lot of 55 shares for ₹14,190 (cutoff bid: INR 14,960). Minimum investments were INR 2,09,440 for sNII (770 shares) and INR 10,02,320 for bNII (3,685 shares).
Digit Insurance – Shareholding
Digit Insurance’s shareholding pattern as of April 2024, sourced from Tracxn:
Digit Insurance Shareholders
Percentage
TVS Capital Funds
3.5%
A91 Partners
3.3%
Faering Capital
4.4%
Wellington Management
1.5%
Sequoia Capital
1.0%
Ithan Creek Investors
0.4%
360 One
0.4%
LNM India Internet Ventures
0.1%
UBR Capital
< 0.1%
QED Innovation Labs
< 0.1%
Parent Entity
82.1%
Cornerstone Sport
< 0.1%
Rs Filmcraft
< 0.1%
Forward Commercial
< 0.1%
D’Artist Talent Ventures
–
Singhaniafuture
–
Dossa Chemicals
–
Sai Service
–
Maruti Stockfin
–
Angel
0.2%
Other People
0.2%
ESOP Pool
2.3%
Other Investors
0.6%
Total
100.0%
Digit Insurance Shareholding
Digit Insurance – Growth and Revenue
Joined the Unicorn Club with a $1.9B Valuation
Digit Insurance became the 1st Indian Startup in 2021 to join the Unicorn Club, following its latest undisclosed investment round.
Digit Insurance Valuation
It also launched a novel COVID-19 product, a Fixed benefit cover for COVID-19. They have been able to reach out to over 20 lakh Indian lives through their Digit Group Illness Insurance product.
Digit Insurance has already achieved a wide array of milestones. Here are some of the popular growth highlights of the company:
Digit achieved the coveted unicorn valuation in less than 4 years of operation
The company boasts of serving 2 crore+ customers
Digit saw a whopping 11X growth in the company’s group health business, which was last recorded at Rs 170 crore
Digit Insurance claims to have sold over 79,536 health policies and insured 42.5 lakh lives between March 2020 and September 2021
The company grew by 44% with a premium of Rs 3,243 crore
Digit is hailed as the first Indian company that achieve a unicorn valuation in 2021
Digit valuation has crossed the $4 billion mark as per the reports dated May 4, 2022
Digit Insurance – Financials
Digit Insurance has shown significant financial improvement in recent years, with notable growth in revenue and a shift from losses to profits.
Particulars
FY24
FY23
FY22
FY21
FY20
Revenue
INR 656.8 crore
INR 39.2 crore
INR -293.7 crore
INR -118.5 crore
INR -172.6 crore
Operating Profit/Loss
INR 484.2 crore
INR -66.3 crore
INR -375.2 crore
INR -185.5 crore
INR -226.9 crore
Profit/(Loss) Before Tax
INR 181.7 crore
INR 35.5 crore
INR -295.9 crore
INR -122.8 crore
INR -175.2 crore
Profit/(Loss) for the Year
INR 181.7 crore
INR 35.5 crore
INR -295.9 crore
INR -122.8 crore
INR -175.2 crore
Revenue rose sharply from INR 39.2 crore in FY23 to INR 656.8 crore in FY24. Profit after tax increased from INR 35.5 crore to INR 181.7 crore.
Digit Insurance Revenue:
Revenue Source
FY24
FY23
Fire Insurance
INR 54.2 crore
INR 22.1 crore
Marine Insurance
INR 6.8 crore
INR -6.8 crore
Miscellaneous Insurance
INR 423.2 crore
INR -81.5 crore
Income from Investments
INR 172.1 crore
INR 105.2 crore
Other Income
INR 0.5 crore
INR 0.2 crore
Total Revenue
INR 656.8 crore
INR 39.2 crore
Revenue from investments increased from INR 105.2 crore to INR 172.1 crore. Fire insurance income more than doubled from INR 22.1 crore to INR 54.2 crore.
Digit Insurance Expenses:
Expense Type
FY24
FY23
Other Expenses
INR 475.2 crore
INR 3.6 crore
Expenses (Non-Insurance)
INR 1.5 crore
INR 3.6 crore
Loss on Sale/Discard of Fixed Assets
–
INR 0.2 crore
Interest on Non-Convertible Debentures
INR 6.1 crore
–
Contribution to Policyholder Fund (ExceEOM)
INR 467.5 crore
–
Other expenses increased sharply from INR 3.6 crore in FY23 to INR 475.2 crore in FY24. Contribution to policyholder funds was a significant cost of INR 467.5 crore.
Digit Insurance Profit/Loss:
Profit/Loss Type
FY24
FY23
Gross Profit
INR 484.2 crore
INR -66.3 crore
Operating Profit/Loss
INR 484.2 crore
INR -66.3 crore
Net Profit/(Loss)
INR 181.7 crore
INR 35.5 crore
Digit Insurance achieved a net profit of INR 181.7 crore in FY24 compared to INR 35.5 crore in FY23.
Quick Summary:
Revenue Growth: Significant increase from INR 39.2 crore to INR 656.8 crore, driven by investments and insurance income.
Expense Surge: Other expenses rose from INR 3.6 crore to INR 475.2 crore, impacting profit margins.
Profit Improvement: Net profit increased fivefold from INR 35.5 crore to INR 181.7 crore, reflecting better operational performance.
Insurance Segments: Fire and miscellaneous insurance showed strong growth, while marine insurance returned to profitability.
Some of the prominent awards and achievements that Digit Insurance achieved throughout the years are:
Digit Insurance Recognized as ‘Top Employer in India’ for 2024 and 2025 for Fostering Culture of Growth and Innovation
Digit Insurance was announced as the General Insurance Company of the Year at the 24th Asia Insurance Industry Awards in 2020
It earned the Insurance Startup of the Year – India award, which was awarded by the Insurance Asia Awards 2020
Asia Insurance Review declared Digit as Asia’s Best General Insurance Company of the Year
Digit Insurance was one of the Hottest Start-ups in India in 2019
In the CMO Confluence & Corporate Awards 2019, Digit was conferred the title of the Best General Insurance Company
The company ranked 5th among the LinkedIn Top Start-ups of 2018
Digit Insurance – Competitors
The top competitors of the company are Acko, Coverfox, and PolicyBazaar.
Acko is the top competitor of Digit Insurance. It is a Mumbai-based company founded in 2016. It also works in the insurance industry.
Coverfox is one of the top competitors of Digit Insurance. It was founded in 2013 and is headquartered in Andheri East, Maharashtra, India. It also operates in the insurance sector.
PolicyBazaar is also a top rival of Digit Insurance. It was founded in 2008 and is headquartered in Gurgaon, Haryana, India. The company competes in the insurance sector.
Digit Insurance plans to capitalize on a favorable macroeconomic climate and accelerate digital transformation, with a strong focus on AI adoption. Key priorities include improving customer-facing services such as claims management and customer support to enhance user experience. While exploring the potential of AI and Generative AI, Digit will adopt a cautious approach, balancing innovation with risk management. The company also aims to strengthen its fraud detection capabilities to address the rising threat of insurance fraud.
FAQs
Who is Digit Insurance Founder?
Kamesh Goyal is the founder of Digit Insurance as well as its chairman.
What insurances does Digit Insurance provide?
Digit Insurance covers insurance policies such as Bike Insurance, Car Insurance Policy, Health and Travel Insurance Policies, Property Insurance, Shop Insurance, Fire Insurance, and many more.
What is Digit Insurance valuation?
Digit Insurance was last valued at $3 billion in May 2024.
What is Digit Insurance business model?
Digit Insurance operates as a digital-first general insurance company. It offers motor, health, travel, property, and commercial insurance products. Its model focuses on using technology for simplified processes, quick claim settlements, and a seamless customer experience. The company generates revenue through insurance premiums and investment income while managing risks through underwriting and reinsurance.
Who is the CEO of Digit Insurance?
Jasleen Kohli has been appointed as the new Digit Insurance CEO and MD on April 19, 2022, effective from April 20, 2022, and has taken over the position from Vijay Kumar.
Which famous cricketer has funded Digit?
The popular Indian cricket team skipper, Virat Kohli has funded Digit. Virat Kohli has invested Rs 2 crore in the insurance startup while his wife, Anushka Sharma has invested Rs 50 lakhs in the firm around the same time.
What is Jasleen Kohli relation with Virat Kohli?
There is no relation between Jasleen Kohli and Virat Kohli. Jasleen Kohli is the Managing Director and CEO of Digit Insurance, while Virat Kohli is an Indian cricketer. Their shared last name is coincidental.
Nitin Konde
