Abhishek Singh, additional secretary, Union Ministry of Electronics and Information Technology (MeitY), stated during his visit to GIFT City in Gujarat on 27 January that India is seeking proposals for developing its own foundational model in order to compete with foreign AI foundational models that serve as the basis for numerous applications such as ChatGPT and Gemini. He added that how India creates a basic model has been a major problem.
At the moment, every core model that a nation uses, including ChatGPT, Llama 3, Gemini, and Claude, is foreign. China has now developed Deepseek and other models as well. To create an Indian foundational model, India must invest and offer financial assistance. The foreign fundamental models can provide incorrect or unsuitable answers because they were trained on western data sets and are not adapted to Indian languages and contexts.
Speaking at the opening of the event, where Chief Minister Bhupendra Patel was also in attendance, Singh went on to say that the government is putting out a call for proposals to create a foundational model in India so that India can compete with the best in the world. Singh continued without revealing a deadline for the submissions, saying, “I am confident that some of the start-ups and innovators present today will be joining this challenge to build an Indian foundational model.”
Foundational Model and Risks of AI
One kind of artificial intelligence model that can handle a variety of jobs is the foundational model. These models can be used in a wide range of applications because they are developed by training on large and varied datasets. While AI has a lot of potential, Singh also believed that there are a lot of risks associated with it. The nation has witnessed how deepfakes and false information operate, as well as how incorrect AI reactions can lead to issues.
To do this, the government is developing instruments for creating AI that is ethical, responsible, safe, and trustworthy. Tools for identifying algorithmic biases, false information in AI, and deepfakes are being developed by researchers and organisations. CoEs and any start-ups developing it will also have access to these technologies. Prime Minister Narendra Modi will visit Paris from February 10–11, when France and India will co-host the AI Action Summit, Singh said, adding that India was engaging “globally in the development of AI governance guidelines.”
India to Set up 18000 Graphic Processing Units
According to the additional secretary, India’s IndiaAI Mission aims to establish 18,000 Graphic Processing Units (GPUs) in order to create a high-end, scalable AI computing ecosystem that will assist researchers, academicians, students, and start-ups. In comparison to other nations, India has relatively few GPUs.
In order to achieve its goal of setting up 10,000 GPUs, the government has held bids under the AI Mission and collaborated with the industry. It is aiming for 18,000 GPUs at very competitive prices, and it has opened the financial bids last week. Additionally, all researchers and startups will have access to these GPUs at a further discounted price. This will also help the start-ups operating in the CoE, Singh continued.
According to a media source, Curefoods, a food and beverage startup founded by Ankit Nagori, a former senior Flipkart executive, has started talking about hiring legal firms and investment banks for its initial public offering (IPO). According to various media outlets, the firm recently met with a number of bankers and solicitors for an IPO mandate, and the counsel will probably be decided upon in the coming weeks. The potential offer, which is anticipated to be made public in the later half of the current fiscal year, which starts on April 1, may raise $300–400 million for the Accel-backed business. They stated that the amount of secondary share sales by current investors will ultimately determine the final size of the initial public offering (IPO). Among others, Accel, Iron Pillar, Chiratae Ventures, Sixteenth Street Capital, Three State Ventures, and Nordstar have invested in the company.
Curefoods Expanding its Network
Along with adding Frozen Bottle and other brands to its portfolio, which already includes EatFit, Cakezone, Nomad Pizza, and Sharief Bhai Biryani, Curefoods has been growing its business. It serves more than ten different cuisines in 40 Indian cities through more than 500 cloud kitchens and physical locations. The firm stated on December 31 that it has reached a deal with the Landmark Group to buy the popular doughnut brand Krispy Kreme’s businesses in west and south India.
In an interview with a media house on December 31, Nagori stated that although the agreement permits Curefoods to manage and operate Krispy Kreme in the south and west, Curefoods is also in talks to extend operations to the north and east in the upcoming months. Over the next five years, Krispy Kreme, a division of Curefoods, intends to open more than 350 more points of access in addition to its current 50 touchpoints.
Financial Outlook of Curefoods
According to the company’s filings with the Registrar of Companies, its consolidated revenue increased by 53% to INR 585 crore in FY24 from the previous fiscal year. According to media estimates, Curefoods anticipates ending FY25 with an annual revenue run-rate of about INR 1,000 crore. According to data, the startup’s consolidated loss decreased from INR 342.7 crore to INR 172.6 crore in FY24.
Statup Sector’s Race For IPO
Due to a robust IPO market and a resurgence of investor interest in tech equities, a number of technology businesses intend to go public in 2025. Lenskart, an eyeglasses startup, has contacted investment banks to present for the mandate for its possible initial public offering (IPO), which may raise $1 billion. Groww, a stock broker, had selected five investment banks for a $1 billion initial public offering.
In the near future, startups like SoftBank-backed OfBusiness, contract maker Zetwek, and financial unicorn Pine Labs hope to raise $1 billion through initial public offerings (IPOs). Up to 25 firms hope to debut on the public market in 2025. This comprises companies that aim for $500 million initial public offerings (IPOs), such as edtech company PhysicsWallah, AI unicorn Fractal, construction materials portal Infra.market, and leader in rapid commerce Zepto.
Sanjay Malhotra, governor of the Reserve Bank of India (RBI), has counselled banks to set up strong and proactive procedures to stop the nation’s growing number of digital frauds. In order to reduce the risks associated with information technology (IT) and cybersecurity, the governor of the RBI also asked the financial institutions to strengthen oversight over their third-party service providers. Additionally, he urged the banks to enhance digital literacy and keep making technological investments. The governor made the remarks on January 27 in Mumbai while meeting with the chief executives of banks in the public and private sectors. In addition to Malhotra, the conference was attended by deputy governors Rajeshwar Rao, T. Rabi Sankar, and Swaminathan Janakiraman. In a statement, the central bank said that these exchanges are a part of the Reserve Bank’s ongoing communication with the top executives of the companies it oversees. The comments are made at a time when private companies and Indian government institutions are being bombarded by cyberattacks.
Sharing his thoughts on the comments, Appalla Saikiran, Founder and CEO, SCOPE, stated, “The financial sector is undergoing rapid digital transformation, increasing opportunities but also increasing the vulnerabilities encountered by modern financial institutions. It has become imperative for financial institutions to herald mechanisms built through the front gate in the fight against online fraud. As cyber threats continue to grow both in volume and complexity, the industry must step up from reactive measures to proactive ones that have security and consumer trust at their centre.”
“State-of-the-art solutions like machine learning (ML) and artificial intelligence (AI) thus have the potential to revolutionise the current fraud-prevention technologies. This is repetition but important as they give financial institutions an incredible ability to mine vast amounts of data in real time to spot abnormalities and act instantly on potential threats. Appropriate identification procedures and encryption are the most decent means to protect sensitive data from illicit access amongst the privacy-breaking actions,” he added further.
Cyber Criminals Looted Around INR 177 Cr in FY24
India lost INR 177.05 Cr to cyber scams in FY24, more than twice as much as INR 69.68 Cr in FY23, according to various published reports. The number of online scams in the nation increased by 334% year over year (YoY) to 29,082 in FY24, according to an RBI data. Nearly 300 tiny local banks’ payment systems were momentarily shut down by a ransomware attack on C-Edge Technologies just last year. C-Edge Technologies supplies banking technology systems to small banks nationwide. The Supreme Court’s official YouTube channel was hacked in September 2024 to show videos endorsing a cryptocurrency created by Ripple Labs, a US-based corporation. The Centre has increased its efforts to stop these cases in the interim.
Government Enhancing the Security Channels
In order to combat the growing number of cybercrimes in the nation, Home Minister Amit Shah stated last year that the government was seeking to establish a central registry of suspects. The “Citizen Financial Cyber Fraud Reporting and Management System,” which the government also established, has prevented scammers from stealing more than INR 2,400 Cr. To increase awareness of cybersecurity in India, fintech unicorn Razorpay partnered with the Indian Cyber Crime Coordination Centre (I4C) and the Ministry of Home Affairs (MHA) in December.
DOT’s Request to Telcos
The telecom department ordered operators to play a caller song about cybercrime awareness eight to ten times a day for three months last December. The Indian Cybercrime Coordination Centre (I4C), a cybercrime wing under the Home Ministry, has supplied the caller tunes, as per the order copy that was delivered to the telecom carriers.
According to the order, caller tune audios will be played through pre-call announcements and ringback tones, which will be supplied to TSPs by I4C nodal officers in order to raise public awareness of cybercrime through the caller tune campaign. A subscriber may hear caller tunes eight to ten times every day.
According to reports, Pine Labs, a prominent fintech company, is preparing to submit its IPO draft papers by the middle of next month. A media site reported that the company aims to list on the bourses as soon as possible after finishing all the procedures required to move its base to India. The National Company Law Tribunal (NCLT) granted the corporation the first set of permissions in August of last year to combine its Indian subsidiary with its Singaporean entity. Five investment banks were reportedly chosen by the Delhi-NCR-based firm in November to serve as advisors for its $1 billion (about INR 8,424.7 crore) IPO. The company is reportedly looking for a $6 billion valuation. Axis Capital, Morgan Stanley, Citigroup, JP Morgan, and Jefferies were among these banks.
A slew of venture capital, private equity, and international funds, including Temasek, MasterCard, Paypal Ventures, Alpha Wave Global, and Peak XV, backed Pine Labs. About 20% of the business may be sold by current investors. The offer might also be used by Pine Labs to raise some primary capital. Since 2009, Pine Labs has raised over $1.32 billion in 14 rounds, according to Tracxn.
Pine Labs May Opt for Pre-IPO Funding Round
The company may choose to pursue a pre-IPO funding round prior to its IPO, which could result in a change in valuations and size, as no definitive decision has been made. It’s interesting to note that this is the business’s second attempt to list on a stock exchange. It submitted IPO paperwork for a $500 million public offering to the US Securities and Exchange Commission back in 2022. However, because of the poor market attitude, it postponed the preparations for the IPO. Pine Labs was established in 1998 by Lokvir Kapoor, Rajul Garg, and Tarun Upadhyay. The company provides retailers with digital payment solutions, including point-of-sale (PoS) devices and payment systems. Additionally, it provides businesses with cashback, rewards, and pay-later options.
Indian Startups and their IPO Dream
Pine Labs’ valuation was reduced by 8.5% from $3.8 billion in January 2024 to $3.5 billion at the end of April 2024 by US-based fund manager Invesco, who also owns stock in the company. Approximately 18 firms, including Flipkart, PhysicsWallah, Ather Energy, and Zepto, are preparing to list on Indian stock exchanges, according to a number of media reports. With plans to list in the upcoming fiscal year, the board of logistics giant Shiprocket passed a resolution on January 27 to turn the business from a private to a public corporation. At a valuation of roughly $2.8 billion, IPO-bound Infra. Market raised INR 1,050 Cr in its pre-IPO round last week. Even Capillary Technologies has resumed its IPO preparations, and by June of this year, it is anticipated to submit the draft documents for a $200 million (INR 1,700 cr) IPO.
This article has been contributed by Sravan Kumar Appana, Co-founder & Chief Executive Officer of iGowise Mobility.
The electric vehicle industry has made tremendous progress in the past 4 years in India, especially in the affordable 2-wheeler segment built for the middle class. During the same time, the e-commerce sector also made notable advancements in India and is currently growing at a rapid pace. According to publicly available data, the e-commerce industry will be responsible for 3.5% of India’s GDP by 2030.
In today’s time, each quick commerce company is looking for ways to surpass its competitors, whether in terms of quality, speed, or other evolving demands of modern consumers. Major quick commerce players have shifted their focus from traditional ICE vehicles to advanced and innovative electric vehicles to overcome these challenges. Data shared by Stand.earth suggests that 50% of total carbon emissions are produced by last-mile deliveries.
Given the push towards e-mobility and sustainability, players like Zepto and Zomato are transitioning towards EV solutions to mitigate the environmental issue. In fact, the recent EV100 Annual Disclosure Report shows that Zomato and Flipkart took the top spots among global businesses that have shifted to electric fleets as their mode of delivering goods. In this regard, let’s discuss how EVs are changing the e-commerce delivery landscape one step at a time.
Shifting from TCO to TPO
In the early stage of EV production, the product was popular due to its lower Total Cost of Ownership (TCO) compared to traditional vehicles. However, now businesses have started focusing on solutions that impact the environment and their pocket in positive ways. As a result, industries are focusing on Total Profit Ownership (TPO), which includes a broader market perspective, including delivery speed, comfortability of the rider, and reduced upfront cost.
To achieve this goal and help e-commerce businesses, the Indian government launched various initiatives such as the FAME-II scheme and PM E-Drive scheme. Such schemes aimed at reducing the additional upfront cost of the vehicle through subsidies and financial support.
In India, around 14 cities are considered to be the most polluted ones, and transportation happens to be a key reason for this. Data shows that Indian transportation accounts for nearly 13.5% of the nation’s carbon emissions, majorly from vehicles running on roads.
However, the wide adoption of EVs can mitigate this problem and curb the issue of navigating densely populated regions. To achieve this, the government is targeting to increase EV penetration by 2030. The latest data shows that in FY23, sales of EVs increased by 50% compared to the previous year, highlighting the increasing shift towards sustainable mobility.
Balancing Cost Efficiency and Rider Comfort
To make the busy lifestyle of urban people easier, e-commerce has updated new features like quick 10-minute delivery. This new feature has transformed the consumer’s experience to another level. For instance, platforms like Blinkit, Bigbasket, and Swiggy Instamart prioritize speed and convenience with the best quality, making it important for logistic levels to transform.
Today, India is the most populated country in the world, and due to the compact size and agility of light EVs, they are quickly emerging as the best logistics solution for the e-commerce sector. Data suggests that due to peak traffic in major cities like Delhi, Bengaluru, Kolkata, and Mumbai, the nation’s economy loses INR 1.47 lakh crore annually. However, integrating LEVs into businesses, particularly last-mile delivery services and logistics, will not only improve their model but also reduce the operation timeline, building customer trust.
Another challenge that riders often face is discomfort while riding bikes or scooters the whole day. Riding long hours could become comfortable if the vehicle is designed to prioritize comfort and agility. Modern light EVs are built for compactness, and narrow tilting trikes, in particular, boast of effective designs that can move effortlessly in congested areas. These user-centric designs make them ideal for quick pickup and last-mile deliveries.
In the last-mile delivery business model, women are putting their best foot forward to tap into the economic and livelihood benefits it could bring them. To make their participation more convenient, they are seeking EVs with comfortable design and efficient performance. In addition, many EV manufacturers in association with e-commerce companies are offering women users EV alternatives like LEVs.
In a progressive world, we can see women capturing all sectors with their talent and knowledge; whether it is a startup or owning a saloon, they are giving their best in showcasing their talent. However, in the delivery sector, they still have to rely upon their father or brother and to mitigate this issue, manufacturers have started innovating LEVs that offer the best stability and agility for carrying goods, reducing the risk of disbalance.
The convenient design and performance of the vehicles are in turn promoting women’s participation in the e-commerce logistics workforce. Road safety is another issue of concern for delivery executives. According to the reports of the Ministry of Road Transport and Highways, in 2022, 168,491 lives were claimed in road accidents. However, by incorporating innovative technologies like anti-topple stability, advanced battery management, skid-resistant brake systems, and ADAS and cruise control systems, EVs can bring about a change.
For instance, the world’s first twin-wheeler trike technology is inspired by the principles used in bullet train stabilization systems but adapted for road vehicles to enhance safety. This technology will reduce the risk of accidents during sharp turns or even on uneven turns, making them more convenient for riders, especially women riders.
How EV Logistics is Matching Sustainability Goals
India’s push for sustainability goals in logistics aligns with achieving net zero carbon emissions by 2070. To achieve this goal, the government has started working on models, including the low-carbon development of electricity systems.
In addition, it is putting efforts into promoting the wide adoption of urban designing and smart technology, the development of integrated and innovative transportation, the development of low-emission industrial systems, the development of carbon dioxide removal, and solving the financial needs of low-carbon developments. The government has also launched various schemes in all these sectors to achieve this goal and
According to reports, it is projected that EV sales can surge up to 35% by 2030. Reports also state that shifting toward EVs by 2050 could save India 70 million tonnes of oil, reducing the nation’s carbon emissions.
In these ways, EVs are changing the e-commerce delivery segment and encouraging a shift to a sustainable future. As India moves towards sustainable development, wide adoption of EVs will largely benefit the e-commerce sector, improving the overall GDP of the country.
Wow! Momo has made many Indians fall in love with Momos. Momo is a very popular dish in Nepal but now it is sold in many metropolitan cities like Mumbai, Delhi, Kolkata, Chennai, Bangalore, and many more.
Delhiites surely love Momos more than anyone else. Wow! Momo has become the largest momo supplier and has come up with various varieties of momos. The company has over 800 stores running in India. The valuation of Wow! Momo is INR 2460 crore as of 2024.
This shows how much this startup has grown over these years. The reason behind their success is the company’s amazing business model. Let’s have a detailed look into the business and revenue model of Wow! Momo.
Wow! Momo is a fast-food restaurant headquartered in Kolkata. The company was launched in 2008. The founders of the company Sagar Daryani and Binod Homagai started the company with just Rs. 30,000. Today, the valuation of the company is in crores.
The goal of the company is to provide different varieties of tasty and hygienic momos to people. Wow! Momo specializes in momos, momo-based desserts, and momo-filled burgers which they call MoBurgs. They provide momos mainly in 3 forms: steamed, fried, and pan-fried momos. By 2024, Wow! Momo expanded to over 800 outlets in multiple cities, operating under three brands: Wow Momo, Wow China, and Wow Chicken.
Wow! Momo – Target Audience
The target audience of Wow! Momo is children and adults. The company does not want to sacrifice the quality of its food and that’s why the prices of their momos are slightly higher.
Wow! Momo targets people who want to eat fusion dishes made with good quality materials irrespective of the cost. This kind of audience mainly includes the young generation that has the enthusiasm to try out a different variety of foods.
They also target people who favor Chinese delicacies when compared with other available options. As for India, the second most favored cuisine after Indian dishes is Chinese cuisine.
The business model of Wow! Momo is designed deeply and perfectly. In the earlier stages, it was noticed that there are many types of momos available in the market.
As for momo makers, a conclusion was drawn that a momo plate of Rs 90 can also be served at Rs 40 but with few changes in the quality of the materials used for making the momos. However, Wow! Momo team was very much clear about their mission and requirements. They do not want to sacrifice the quality of momo in exchange for a low price.
As of now, the company operates in 19 different cities in India with more than 400 outlets.
The company follows the COCO(Company Owned Company Operated) business model. The company manages everything from buying food materials to processing to finally making and delivering the products. The company has made one central cloud kitchen in every city.
To make things properly organized, Wow! Momo works with the model of hub-and-spoke model for better control over each outlet in different cities. There is a precise time for different work such as cutting, chopping, and production that takes place in the central kitchen of each city.
The chopping and cutting along with the production are taken care of before the day of actual shipping by the staff of the central kitchen. Once completed, these things are then transported to different outlets by means of a chilled vehicle.
This transported material is then optimized as per the customer’s requirements at the time of serving.
Unique Things in Wow! Momo Business Model
Wow! Momo consists of an intricately planned business plan with pre-designed steps to evolve the name of Wow! Momo as a brand. Let us look at the unique things about the company’s business model.
Large Variety of Momos
A large variety of tasty momo’s
The company provides a large variety of mouth-watering momos. In total, they offer 12 different flavors of momos. As told before they provide momos in 3 forms: steamed, fried, and pan-fried momos. To give them an Indian touch these momos are fried with different sweet and spicy sauces. Wow! Momo provides both veg and non-veg momos.
Today, you can eat sizzler momos, chat momos, tandoori momos, momo burgers (MoBurgs), and baked momo Au’gratin. One of their popular desserts is chocolate momos. Recently, they have launched 2 varieties of momos – Veggie Darjeeling momo and Chicken Darjeeling momo.
Wow! Momo Essentials
Wow! Momo Essentials
During this pandemic, many brands have come up with new ideas and tried to reinvent themselves to stay in the competition. Wow! Momo has also done the same. The company noticed that due to the lockdown people were facing problems buying grocery products. So, they launched Wow! Momo Essentials to deliver grocery products.
To make this venture successful the company partnered with ITC, Nestle, P&G, and EMAMI. To deliver grocery products the company tied up with the Swiggy Grocery platform. The company claims that in February 2020, they got Rs 5 crore topline because of Wow! Momo Essentials.
Fulfills the Needs of Both Veg and Non-Veg Consumers
You will find both veg and non-veg momos in Wow! Momo. Pan-fried momos are the specialty of this company. A few varieties of momos include chicken and cheese momos, prawn momos, and Schezwan momos. They also have a variety of veg momos which includes corn and cheese momos, corn momos, mushroom momos, etc.
Outlet Formats
Wow! Momo operates in four different outlet formats: food courts, high-street restaurants, kiosks, and high-street shops. 20 people can easily sit in these shops. Restaurants have a space of 1000 sq ft.
Wow! Momo has made its name in the market because of its authentic taste and multiple fusion dishes. The company was quite clear about its agenda and it never sacrificed the quality of the product to decrease the prices.
However, Wow! Momo still succeeded in catching the attention of customers and that is the prime factor behind its revenue. The majority of the revenue is earned by selling momos through its outlets. Another strategy the company uses to earn revenue is by establishing a centralized kitchen and providing franchises for different locations.
Wow! Momo charges a royalty fee on each of their franchises and they also take care of the materials required to be supplied in each outlet. Hence, they earn enough revenue from both these sources.
Wow! Momo Financials
Wow! Momo
2022
2023
Operating Revenue
INR 220 crore
INR 413 crore
Total Expenses
INR 275 crore
INR 471 crore
Profit/Loss
INR -53.5 crore
INR -61 crore
In 2023, Wow! Momo saw an increase in operating revenue, reaching INR 413 crore, compared to INR 220 crore in 2022. However, the company’s expenses also rose to INR 471 crore from INR 275 crore, leading to a higher loss of INR 61 crore, up from INR 53.5 crore in the previous year. The company eyes for INR 650 crore revenue in FY25.
Wow! Momo – Marketing Strategy
In the start, the company used to advertise using social media highlighting its USP. For marketing campaigns, the company used a yellow color for Kiosk. Due to a shortage of finances both the founders used to sell momos in a tray by wearing Wow! Momo t-shirts.
This strategy helped them go from Rs. 2200 to Rs. 53000. They advertise aggressively using famous social media platforms like Facebook, Instagram, Twitter, etc. The company believes that opening as many outlets as possible will help the company in marketing and increase sales.
Marketing Strategy of Wow! Momo
The company comes with innovative ideas. Wow! Momo likes to experiment with its products and promotions. The company started its journey on wheels in Metros stations.
Further, they expanded to open areas in malls and corporate tech parks. They launched a food bus or truck in an amusement park in Kolkata. Due to smoke emission Wow! Momo was not able to sell momos at the airport. So, they used mango pulp as momo stuffing and named the dish mango momo dessert.
Wow! Momo – Future
Another branch of Wow! Momo was opened under the name of Wow! China
Wow! Momo is reportedly planning to launch an initial public offering (IPO) in 2027. It plans to grow by opening 200 new outlets in the next year and expanding into over 100 new cities in the next three years. It will also venture into cloud kitchens to enhance its food delivery service and strengthen its FMCG presence with new product launches ahead of its
Sagar Daryani in an interview said that he wants Wow! Momo to be listed on the stock exchange. He wants to make an international brand like KFC, Pizza hut, and Domino. They will stick with Momos and add more flavors. They are continuously working on their menu.
Conclusion
Both the Entrepreneurs Sagar Daryani and Binod Homagai had a great vision and they converted it into a reality with their amazing business model. The main key here is product innovation. They identified that momos can be converted into a big business.
To stand out in the market they knew that they needed to add more varieties and flavours. At the start, they didn’t have the required finance. Still, they didn’t lose hope and started to sell samples in malls. Due to their constant efforts Wow! Momo has become successful.
FAQs
Is Wow! Momo profitable?
No, Wow! Momo has not been profitable in recent years. In 2023, the company reported a loss of INR 61 crore, following a loss of INR 53.5 crore in 2022.
How to get Wow China franchise?
Wow! China is a part of the Wow! Momo brand and operates as a fast-food chain offering Chinese cuisine. The brand follows a franchise model, allowing entrepreneurs to open Wow! China outlets under the company’s guidance and brand name. It offers a range of Chinese dishes and aims to expand its presence in various cities.
Is Wow Momo franchise profitable?
The profitability of a Wow! Momo franchise can depend on factors like location, management, and local demand. While the brand has shown strong growth in terms of outlet expansion and revenue, it has reported losses in recent years, indicating that some franchises may face challenges.
What is Wow! Momo franchise cost?
Wow! Momo charges a franchise fee of up to INR 25,000 + GST, with the total initial investment ranging from INR 1 lakh to INR 8 lakh.
What is Wow! Momo revenue?
Wow! Momo’s revenue for 2023 was INR 413 crore, a significant increase from INR 220 crore in 2022.
What is Wow Momo origin?
Wow! Momo was founded in 2008 by Sagar Daryani and Binod Kumar. The brand started in Kolkata, India, with the aim of offering quick, tasty, and affordable momo.
How many Wow Momo total outlets in India are present?
By 2024, Wow! Momo expanded to over 800 outlets in multiple cities, operating under three brands: Wow Momo, Wow China, and Wow Chicken.
Valentine’s Day is celebrated annually on February 14th. It is a day set aside to show love, affection, and appreciation to loved ones, friends, and family. Valentine’s Day has grown from its Roman and Christian roots to become a global cultural event that people from various backgrounds celebrate.
Valentine’s Day isn’t just about romantic gestures; it also promotes love and togetherness in the workplace. Recognizing Valentine’s Day in the workplace can help create a more positive and joyful environment. Workers will age and be driven when they feel valued and appreciated. Celebrating together can create unforgettable experiences while breaking up the workweek’s monotony.
In this article, we’ll look at various fun team-building activities designed specifically for Valentine’s Day in the office, perfect for creating memorable experiences while strengthening coworkers’ bonds.
Valentine’s Day Team-Building Ideas for Your Office – DIY Card Exchange
Valentine’s Day corporate events can bring teams together through engaging activities and celebrations that promote connection and fun. Recommend staff members to express their creativity by having them make personalized Valentine’s Day cards for their coworkers. This simple but emotional gesture allows individuals to show gratitude and friendship, building ties within the group. Everyone should be urged to make several greeting cards for their peers rather than just one. A more significant number of individuals will feel cherished in this way. Set aside time for everyone to hand out cards to their receivers while getting their cards from others.
Puppy Pen
Employee engagement activities for Valentine’s Day focus on creating a joyful and inclusive environment that encourages collaboration, appreciation, and team bonding. Partnering with a nearby animal shelter or rescue group to bring some puppies for a visit can be an exciting activity that not only lifts employee spirits but also relieves stress. Plan out all the details of the visit, such as the Day, time, length, and number of puppies that will be brought in. For this reason, choose a tidy, cozy, and risk-free space in the office so that the puppies can socialize with staff members without risk. To maintain crowd control, assign slot times to employees or departments so that everyone can spend quality time.
Valentine’s Day Team-Building Ideas for Your Office – Decorating Desserts
Pick a variety of sweets, such as cookies, cupcakes, brownies, or doughnuts, as well as frosting, icing, sprinkles, and any other toppings or decorations you think would be fun to decorate. Offer beverages such as coffee, tea, or hot chocolate to complement the sweet treats. To encourage everyone to participate, this can be turned into a small competition where the best-decorated treat from each company department wins an incentive. This promotes employee collaboration and helps them learn new styles or techniques. Organizing a decorating sweets station creates a fun and engaging activity that fosters creativity and strengthens coworker relationships.
Movie Night
Office movie night ideas are onsite activities that transform the workplace into a theater for the evening, providing a cinematic experience for employees to enjoy together. Arrange blankets, pillows, and comfy seating alternatives like bean bags or floor cushions to create a warm and inviting atmosphere. To ensure that everyone has a say in the movie selection, you can collect poll responses in advance from all of your employees. You can also serve amusing refreshments such as pink popcorn, nacho bar, heart-shaped pizza, and desserts. This is one of the best and most entertaining group Valentines Day ideas.
Romantic-themed Game Night
Valentine’s Day Team-Building Ideas for Your Office – Game Night
Select a few games with a Valentine’s Day theme that work well in groups. Classic games like Pictionary, charades with romantic movies, and trivia games with questions about famous couples can be made more festive for the celebration. Divide the participants into teams that include a variety of personalities and departments to encourage interaction and collaboration. Encourage friendly competition and teamwork while keeping the mood light and pleasant. Make sure everyone understands how to play, as well as any game-specific guidelines or instructions.
Appreciation Awards
By hosting an appreciation awards event, you can present a certificate or award to each employee as a considerate approach to acknowledging and appreciating their accomplishments and talents. Send invitations to all employees encouraging them to attend. Include as much information as possible about the event, including the date, time, location, and attire expectations. Prepare speeches or remarks to celebrate each award recipient at the ceremony, emphasizing their accomplishments, contributions, and features. This is a great approach to express gratitude and encourage your team members to maintain their outstanding performance.
Trust is the foundation of any successful relationship. Trust is defined as the ability to rely on another person with confidence. Organizing a trust-building workshop is a great way to improve relationships and teamwork among colleagues. Select trust-building activities or exercises that are enjoyable, engaging, and appropriate for your group. This can include trust falls, collaborative problem-solving tasks, and even escape room challenges. Employees can build up their relationships, improve their communication skills, and gain respect from teammates. It is an investment in the long-term success and efficiency of your business.
An icebreaker is a game, activity, or event intended to lower social barriers, increase comfort levels, and promote social engagement. Organizing PowerPoint night icebreaker sessions is an innovative way to push staff members to stand out and make an impression. This can include amusing facts, hobbies, passions, or memorable events. After a lecture, have staff members pose questions to the audience to create a lively questions and answers session.
Valentine’s Day Bingo
Valentine’s Day Team-Building Ideas for Your Office – Valentine’s Day Bingo
Valentine’s Day Bingo is a fun game to help coworkers meet and chat. To fill the card, players talk to teammates and find people who match the descriptions in each box.
To win, players need five squares in a row, column, or diagonal, without repeating names in that line. Winners can turn in their cards to get a prize.
Valentine’s Day Scavenger Hunt
Why save all the fun for other holidays? For a unique and enjoyable Valentine’s Day activity at work, try hosting a Valentine’s Day scavenger hunt.
It’s like a regular scavenger hunt but with a fun Valentine’s twist! Clues can be inspired by famous romance movies, and the prize could be a romantic dinner for two.
Conclusion
As Valentine’s Day approaches, now is the moment to shower your workplace with love, laughter, and togetherness through enjoyable team-building activities. From group projects to emotional conversations, these events capture the essence of the occasion and strengthen relationships among coworkers, resulting in a more cheerful and welcoming atmosphere.
FAQs
What are Valentines Day team building ideas to celebrate in the office?
Office Valentines Day ideas include hosting a themed scavenger hunt, playing Valentine’s Bingo, organizing a potluck with heart-shaped treats, or crafting appreciation cards for coworkers. These activities encourage bonding and add fun to the workplace.
What are Valentines Day office games?
Valentine’s Day office games include Valentine’s Bingo, a scavenger hunt with romantic clues, “Guess the Love Song,” and a “Compliment Exchange” where coworkers share kind notes. These games make the celebration fun and engaging.
What are Valentine’s Day team building activities for virtual setup?
Valentine’s Day team-building activities in a virtual setup include online trivia about love and romance, virtual card-making, a themed scavenger hunt, or sharing appreciation messages through video calls.
StartupTalky presents Recap’24, a series of exclusive interviews where we connect with founders and industry leaders to reflect on their journey in 2024 and discuss their vision for the future.
The Indian hair care market is projected to reach a volume of $3.57 billion by 2029, growing at a rate of 3.02% between 2025 and 2029. One brand leading the charge in this space is Traya. By blending Ayurveda with modern dermatology and nutrition, Traya provides personalised solutions to address hair loss at its root causes.
In this edition of Recap’24, StartupTalky connects with Saloni Anand, Co-Founder of Traya. She shares the story behind Traya’s journey, the challenges she and her co-founder Altaf faced, and how they are building a brand focused on providing effective and reliable solutions. Anand discusses the brand’s unique approach, innovative strategies, and research that set Traya apart in the competitive hair care market. From introducing AI-powered diagnostics to conducting clinical studies, Anand explains how Traya delivers real results for over 8,00,000 customers.
StartupTalky: What is Traya, and what inspired you to start this brand focused on solving hair loss problems?
Ms. Saloni Anand: I used to be a regular employed professional with a stable position at a SaaS company while my husband, (& Co-Founder of Traya) Altaf, immersed himself in the startup world. His dedication was admirable, but it came at the cost of his health. Prioritizing work over nutrition and sleep took its toll, leading to elevated thyroid and uric acid levels, weight gain, and hair loss. Witnessing his struggle was challenging, but we remained determined to find a solution.
At that time everyone in the market was selling quick fixes such as shampoos, oils, and external products to combat hair fall. Many hair products made several claims of reversing hair loss in no time. None of these claims were effective. This created a significant gap in addressing the issue. Root causes of hair loss such as diet, stress, and overall health were overlooked in tackling the problem.
Exploring various remedies, from Ayurvedic treatments to dermatological therapies, yielded no desired results. Then, we encountered an Ayurvedic practitioner who suggested alternative solutions. Initially skeptical, Altaf decided to give it a chance. Incorporating allopathic, dermatological, and nutritional approaches, his health began to transform. Shedding extra pounds, normalizing thyroid and uric acid levels, and regrowing hair brought immense relief.
Witnessing Altaf’s remarkable transformation, we shared our journey with friends, sparking inquiries about his hair journey. Realizing that not everyone experienced identical results, we paused to reflect. This realization inspired us to launch Traya, initially attracting 50 customers. Transitioning into the role of hair coaches, we collaborated with experts to assist them closely and get on a call with them daily to track their progress.
Within just 5 months, 36 of our customers witnessed significant improvements, marking the inception of Traya. Our vision is clear: to help people grow their hair in a market full of products but with little success. We’ve experienced the struggle personally, driving our focus on delivering better results for our customers. This commitment has guided our evolution into what we are today.
StartupTalky: What products and services does Traya currently offer, and what unique features set them apart in the hair care market?
Ms. Saloni Anand: What sets Traya apart is our innovative and holistic approach to addressing hair loss. Rather than offering quick fixes, we focus on identifying and tackling the root causes of hair fall. Recognizing that hair loss is a highly individualized issue, we’ve developed a comprehensive approach by combining the expertise of Ayurveda, Dermatology, and Nutrition. This unique combination enables us to tailor treatments to each customer’s specific needs, understanding that the factors contributing to hair loss vary from person to person.
A cornerstone of our success is Traya’s hair test, a data-driven and AI-powered innovation developed during the pandemic by Altaf, our team of doctors, and myself. This diagnostic tool uncovers the underlying causes of hair fall, whether related to stress, hormonal imbalances, or nutritional deficiencies, allowing us to craft personalised and effective solutions.
Unlike many competitors, Traya prioritizes customer trust and data security by utilizing a robust in-house CRM system to securely store consumer data on our own servers. This commitment to safeguarding sensitive information reinforces our reliability and builds confidence among our customers. Our collaboration with healthcare experts, including dermatologists, nutritionists, and Ayurvedic practitioners, ensures that our approach is both effective and safe.
By combining diverse medical perspectives, we’ve developed a truly holistic solution that genuinely makes a difference, strand by strand. Understanding the challenge many people face with consistency, we’ve implemented a unique model featuring a vast network of dedicated hair coaches, Traya’s magic. Each customer is paired with a hair coach who guides and supports them throughout their personalised hair care journey, ensuring they stay motivated and on track. With an efficacy rate of 93%, this model has proven to be highly effective, helping over 8,00,000 customers achieve healthier, stronger hair.
StartupTalky: What new products, features, or initiatives have you introduced to improve customer experience and outcomes in 2024?
Ms. Saloni Anand: In 2024, we have continued to enhance our customer experience and improve outcomes through innovative products, research-driven initiatives, and consumer awareness campaigns. Our product portfolio has expanded with carefully formulated solutions designed to address individualized needs. Highlights include serums, oils, and supplements like Traya Nourish Oil which targets hair fall and related concerns. A significant milestone was the launch of the Santulan range, featuring products such as Traya Meno Santulan, Traya PCOS Santulan, and Her Santulan, which cater to female-centric issues like PCOS, menopause, and postpartum care. This strategic expansion has allowed us to diversify our offerings and reach a broader customer base.
To foster holistic well-being, we launched the second season of India’s first health podcast, What The Health!, where we debunk myths and provide evidence-based insights on topics such as Ayurveda, gut health, postpartum care, mental wellness, and more. By engaging with industry experts and exploring a wide array of health-related topics, the podcast has become a trusted resource for individuals seeking informed guidance on health and fitness.
This year also marked a groundbreaking achievement in hair loss research. Traya conducted a six-month study with 135 male participants aged 18 to 45, comparing the efficacy of Traya’s Customised Hair Regimen against Minoxidil in managing male pattern hair loss. The study, conducted in collaboration with MS Clinical Research Pvt Ltd, revealed that Traya’s regimen was three times more effective in improving hair density, challenging the long-held belief that a single serum like Minoxidil is sufficient to treat hair loss.
In addition, our latest initiative, #QuestionTheClaim, focuses on consumer education and awareness by addressing misleading marketing narratives in the hair care industry. This campaign empowers consumers to understand hair science and identify exaggerated claims, such as those made by products that promise a 99% reduction in hair fall. With these developments, Traya has reinforced its commitment to providing transparent, research-backed, and customer-centric solutions.
Traya Products
StartupTalky: How has the hair care industry changed in recent years, and how has Traya adapted to these changes to stay ahead?
Ms. Saloni Anand: The hair care industry hasn’t seen much meaningful change in years, with many brands relying on marketing gimmicks instead of real solutions. Lots of brands promise one product wonders that claim to reverse hair loss in just 3-4 weeks. While these claims sound appealing, they fail to address the deeper problem. Hair loss isn’t something that can be fixed overnight, it takes time, typically 4-6 months, to see real results because the process involves tackling internal issues rather than offering quick, superficial fixes.
Many brands also use incomplete and misleading testing methods to support their claims. For instance, some focus on reducing hair breakage instead of hair fall from the roots, or they compare their products against non-conditioning shampoos to show better results. Claims like “reduce 99% hair breakage with every wash” often confuse consumers, making them think these products solve hair loss, when in reality, they don’t address the root causes. These tactics leave customers disappointed and without lasting solutions.
At Traya, we’ve always believed in challenging these outdated practices and offering something better. Our approach combines Ayurveda, nutrition, and dermatology to create personalised solutions that actually work. To back this up, as I mentioned above, we conducted a one-of-a-kind clinical study, something rarely seen outside the pharmaceutical world. Over six months, we worked with 135 participants and used advanced tools like Trichoscan® and CaseLite to ensure accurate and reliable results. The results were extraordinary. Traya’s 3X approach doesn’t just manage hair loss, it redefines it.
By addressing the root causes using a blend of ancient wisdom and modern science, we proved that lasting hair regrowth is possible, without shortcuts or quick fixes. This study not only validated our solutions but also put Ayurveda on the global map as a credible approach to hair care.
At Traya, we’ve stayed ahead by focusing on time-tested, research-backed solutions that are transparent and effective, proving that managing hair loss is about personalization, patience, and evidence, not marketing gimmicks.
StartupTalky: Can you share some of the key business strategies or growth hacks that have worked well for Traya over the years?
Ms. Saloni Anand: Over the years, Traya has implemented several innovative growth strategies that have significantly contributed to our success. To optimize our marketing efforts, we built robust attribution and measurement models that connect data from ad platforms, Google Analytics, and CRM sources. This allows us to track and evaluate the performance of various channels effectively. By activating new channels and measuring their incrementality, we’ve been able to identify high-performing platforms and allocate resources wisely.
We also use first-party data to create custom audience segments based on factors like gender, age, hair loss stage, and symptoms. This helps us tailor our messaging across multiple channels, including Google, Facebook, YouTube, WhatsApp, email, OTT platforms, and affiliates, ensuring our campaigns resonate with diverse audiences.
One of our most significant achievements has been establishing an in-house content studio. This setup enables us to produce high-quality content for all our digital marketing needs, including celebrity films, podcasts, photoshoots, and YouTube videos, without relying on external agencies. To maintain consistent brand language, we follow an aggressive review mechanism with detailed checklists for every piece of content, even something as small as a thumbnail copy. This level of rigor has helped us reduce creative costs to less than 8% of our marketing spending while ensuring a unified brand voice across all platforms.
In 2022, we transitioned from an assisted sales model to direct sales, where users purchase directly from our website. To support this shift, we focused on creative experimentation, producing over 80 video assets for testing and optimization. Using insights from these experiments, we developed a strong content funnel strategy that effectively guides users through their journey.
A standout tactic was our “Instagram testing bed,” where we used our social media audience to gauge the effectiveness of content pieces. This approach helped us refine our messaging and contributed to a 130% increase in users. Doctor and coach videos also played a pivotal role in sustaining growth by leveraging trust figures that resonate with our audience.
In July 2022, we launched our first celebrity campaign, which resulted in a 120% revenue hike. Since then, we’ve partnered with various celebrities, including A-listers like Rajkummar Rao, Ayushmann Khurrana, Patralekha, and Neena Gupta. While hair loss is a sensitive topic in the industry, we cleverly positioned our campaigns to focus on the broader issue without implying that the celebrities themselves faced hair loss. This strategy not only opened doors for more collaborations but also strengthened our brand positioning, particularly among female audiences. Our growth has been rooted in understanding customer needs and adapting our strategies accordingly.
StartupTalky: What were your biggest 2024 challenges, and how did your team overcome them?
Ms. Saloni Anand: One of the biggest challenges we have faced since inception is addressing the widespread misconceptions about hair loss, especially those related to genetics and stress. Many people believe that hair loss is either inevitable or solely caused by stress, making it hard to shift the conversation toward a more scientific and holistic approach. Additionally, despite access to advanced research and technology, a large segment of the educated audience in India continued to prefer traditional home remedies (ghar ke nuskhe) over scientifically backed treatments. Convincing them to trust proven methods over these remedies was a significant hurdle.
Another challenge was the reluctance of individuals to prioritize their health and stick to consistent self-care routines. Many delayed starting treatments, worsening their hair loss over time. For instance, a study we conducted revealed that a significant portion of young adults aged 21-25 progressed from Stage 1 to Stage 2 of the Norwood Hair Loss Scale simply because they didn’t seek timely intervention.
To tackle these challenges, we focused on education as our primary tool. We made it a priority to simplify communication, explaining not only the symptoms of hair loss but also the root causes and how our treatments address them. We introduced a personalised approach through our hair coach framework, assigning every customer a medically trained coach. These coaches work closely with doctors to adjust treatment plans as needed, ensuring a smooth and tailored experience.
Gathering feedback also played a crucial role in overcoming these obstacles. By using feedback forms to track progress, we could adapt our products and treatments to meet evolving customer needs. This allowed us to stay aligned with what our consumers truly needed and expected from us.
Another common misconception we addressed was around Minoxidil, often regarded as the ultimate solution for hair loss. While it’s an effective and extensively tested molecule recommended for decades, Minoxidil only offers a temporary fix, managing hair loss superficially without addressing the root cause. We educated our customers about the limitations of one-size-fits-all solutions and emphasized the importance of holistic treatments that tackle the root causes of hair loss.
Our Traya treatment regimen, for example, combines Ayurveda and modern science, creating customised plans based on each consumer’s lifestyle, diet, gut health, and other factors. By focusing on education, personalization, and ongoing support, we not only overcame these challenges but also strengthened trust in Traya as a brand committed to delivering real and lasting solutions to hair loss.
StartupTalky: How do you keep your customers engaged to stop churn? Can you share specific customer retention initiatives or loyalty programs that have proven successful for your brand?
Ms. Saloni Anand: At Traya, customer engagement is at the heart of everything we do, ensuring that our customers feel supported and valued throughout their hair care journey. One of the ways we maintain this connection is through our personalised approach. Every customer is assigned a dedicated hair coach who provides ongoing guidance, helping them stay consistent with their routines and making adjustments as needed. This hands-on support builds trust and keeps customers engaged, reducing churn significantly.
Our innovative use of data has also played a crucial role. Traya’s revolutionary hair test uses data and AI to identify the root causes of hair fall, whether it be stress, hormonal imbalances, or nutritional deficiencies. This personalization ensures that customers see real results, increasing their loyalty to our brand.
Additionally, our in-house CRM system securely stores customer data, enabling us to offer seamless experiences while prioritizing data security, another factor that strengthens trust. Content marketing has been a game-changer for customer engagement. Sharing real-time customer testimonials and before-and-after transformations on social media has created a strong sense of community. Seeing real people achieve genuine results resonates deeply with our audience, inspiring them to stay committed to their own treatments. We also share valuable tips on hair health and educational content to keep our audience informed and invested in their hair care journey.
Collaborations with influencers and experts have further strengthened our engagement efforts. Campaigns like #HopeForHair with actor Rajkummar Rao helped us connect with diverse demographics, showcasing Traya as a brand that understands and addresses individual needs. We’ve also leveraged data-driven insights to create impactful initiatives. For instance, a study involving 2.8 lakh women across India revealed that 71.19% of them experience medium to advanced stages of hair loss. Using these insights, we’ve focused on raising awareness about timely intervention and holistic solutions, encouraging customers to prioritize their hair health.
Our digital-first approach ensures customers can easily access our services through a user-friendly website, complete with detailed information about our approach and proven results. We actively engage with customers via social media and performance marketing, transforming them into enthusiastic brand advocates by listening to their feedback and showcasing their success stories. Over time we have built a customer base of over 8,00,000 loyal consumers for Traya.
#HopeForHair Campaign | Rajkummar Rao X Traya
StartupTalky: What are some key metrics you track to measure Traya’s growth and performance, and how do they guide your decisions?
Ms. Saloni Anand: At Traya, our consumers are at the heart of everything we do. Our primary goal is to provide them with personalised treatment plans designed to reverse hair loss and kickstart their journey toward healthy hair growth. We measure our success by the satisfaction and happiness of our consumers, making their positive experiences the ultimate marker of our growth and performance. To achieve this, we dedicate significant time and resources to research, development, and innovation. This ensures that every solution we offer is tailored to address the unique needs of each individual, delivering the best possible outcomes.
StartupTalky: What opportunities do you see for growth in the hair care industry in India and globally, and how do you plan to scale Traya’s reach in the future?
Ms. Saloni Anand: The hair solutions market in India is a $12 billion industry, and Traya is poised to disrupt it. With only 12,000 licensed dermatologists to address the needs of over 150 million Indians facing hair loss, the demand for accessible, doctor-backed solutions is undeniable. Traya’s goal is to bridge this gap and offer scientifically proven treatments that deliver sustainable results.
By 2025, we envision Traya becoming synonymous with hair loss and hair fall solutions, offering comprehensive treatments for both men and women. Our mission is simple – to help fight hair fall with expert-backed solutions, empowering our customers to regain their confidence. We also aim to educate consumers to have the expertise to identify false claims and options for expert-backed solutions. While we have already established expertise in male hair loss, we have also expanded into female hair care with the launch of our Santulan range, as part of our sustained approach to address female-specific causes like PCOS, menopause, and postpartum hair loss.
A key focus in our growth strategy will be expanding into non-metro Tier 2 and Tier 3 markets, ensuring our solutions are accessible to a wider audience. We also plan to invest further in research and development to enhance our product offerings, ensuring they continue to meet the evolving needs of our customers.
Looking beyond India, we see immense potential for international expansion. Hair loss is a global issue that affects people across genders and age groups, making Traya’s holistic, personalised approach relevant worldwide. Our deep understanding of gender-specific hair loss behaviors uniquely positions us to tap into new markets and serve a diverse customer base.
Ultimately, our vision for 2025 and beyond is to scale globally, while continuing to educate our customers and provide effective solutions. We aim to establish Traya as a trusted name in personalised hair care, known for delivering real, lasting results.
StartupTalky: As a female D2C founder featured in the Hurun Report, what advice would you give to aspiring entrepreneurs looking to build impactful brands in the health and wellness sector?
Ms. Saloni Anand: As a female D2C founder, my advice to aspiring entrepreneurs in the health and wellness sector is simple: believe in yourself and your abilities. Don’t let gender stereotypes or societal expectations hold you back. When I started Traya, I had an MBA but no prior entrepreneurial experience, yet I trusted my instincts and focused on building something meaningful. Challenges will come your way, but resilience and adaptability are key, every setback is an opportunity to learn and grow. Invest in continuous learning, stay updated with industry trends, and seek guidance from mentors and advisors who can inspire and support you.
Also, building a brand in the health and wellness sector goes beyond just offering products; it’s about truly understanding your customer’s needs and providing solutions that can improve their well-being. It’s about building trust and offering a personalised, thoughtful approach that resonates with people’s lives. With determination, hard work, and a clear purpose, you can achieve incredible things.
Thanks to the development of eCommerce and online shopping trends, it is now possible to conveniently browse through leading worldwide fashion brands and have our favorite things delivered right to our doorstep in the modern digital age.
One of the most well-known names is Myntra. Myntra, which was established in 2007 by Vineet Saxena, Ashutosh Lawania, and Mukesh Bansal, is now the biggest online fashion store in the country. Myntra is dedicated to giving customers an easy and enjoyable shopping experience. With a wide range of brands and products, it’s simple for anyone to get their hands on the newest and most stylish things.
Let’s dive into the article to learn all about Myntra, its Startup Story and History, Business and Revenue Model, Funding and Investors, Founders and Team, Challenges, Competitors, Future Plans, andmore.
Myntra is one of the largest fashion eCommerce stores in India that deals with a wide range of fashion and lifestyle products for men, women, and kids. It sells high-quality clothes, branded footwear, bags and backpacks, beauty and personal care products, home and living accessories, and more.
The parent organization of Myntra is Flipkart, which is one of the largest eCommerce companies in India. Flipkart has been the parent company of Myntra since 2014 when the eCommerce giant acquired Myntra for an estimated amount close to INR 2,000 crore. The deal included both cash and stock.
Myntra has a wide range of fashion products from brands all across the world and appeals to young and old Indians, with a special focus on Gen Y, or the millennials, and Gen Z. All of these Myntra can be aptly summed up as a one-stop-shop for fashion in India.
Myntra – Industry
As per a report by Mordor Intelligence, the Indian eCommerce market is anticipated to witness substantial expansion, with a valuation of $147.3 billion in 2024. The market is expected to grow rapidly, with a projected value of $292.3 billion by 2028, according to the analysis.
This represents a remarkable Compound Annual Growth Rate (CAGR) of 23.8% from 2024 to 2028. This significant development trajectory highlights how eCommerce is becoming more and more prevalent in the Indian industry, fueled by changes in customer tastes, digitization, and technology breakthroughs.
Mukesh Bansal, Ashutosh Lawania, Vineet Saxena, Sankar Bora, and Raveen Sastry are the founders of Myntra.
Mukesh Bansal
Mukesh Bansal – Co-Founder of Myntra
Mukesh Bansal, the co-founder of Myntra, was born and raised in Haridwar, Uttarakhand. He is a Computer Science graduate from IIT Kanpur, after which he served a wide range of companies, including Deloitte, Nextag, Ewanted.com, Centrata, and NewScale, as an Analyst, an Engineer, and in the Product Management department.
Bansal then founded Myntra company in 2007, which was eventually acquired by Flipkart when he left. Bansal then founded Curefit in April 2016 and is currently serving as the co-founder of Cult.fit (previous name Cure.fit).
Ashutosh Lawania is an angel investor and the co-founder of Myntra. Ashutosh graduated from IIT Kanpur, after which he served Various Startups as a Software Engineer. Lawania co-founded Myntra, which he left in 2017. Lawania’s brilliant entrepreneurial mind is also behind a couple of other companies – Bytedge Solutions and MFine, and he is currently serving as the co-founder of MFine.
Vineet Saxena
Vineet Saxena, Co-Founder of Myntra
Vineet Saxena, who is also an IIT Kanpur alumnus, is another co-founder of Myntra. Saxena started with Tech Mahindra in British Telecom as a Software Engineer. Saxena then joined Pramati Technologies as a Product Engineer and left it after 2 years, when he joined Tavant Technologies as an Associate Architect.
After gaining over 4 years of experience in the last company, Saxena decided to co-found Bytedge Solutions. Myntra was the second company that Saxena co-founded; he eventually left the company in 2011. However, soon after, he co-founded IndusDiva, where he also served as CEO.
It was only in September 2020 that this technology entrepreneur quit the company and co-founded another company, Card91, where he is currently serving as a co-founder.
Sankar Bora
Sankar Bora, Co-Founder of Myntra
An NIT Calicut and IIM Bangalore alumnus, Sankar started his entrepreneurial career by founding Engineering Exam Prep. He eventually resigned and chose to serve a list of companies—IT Solutions, Trigyn Technologies, and Tavant Technologies—as a Senior Software Engineer, Technical Leader, and Associate Project Manager.
Bora later co-founded Myntra, where he served as a VP of Operations. After leaving Myntra in 2010, Bora served as a Mentor and Strategic Investor at Flemingo Hospitality Services Pvt. Ltd; Co-founder & Chief Operating Officer of Miraistore.com; Chief Operating Officer of AEON Learning, and a Founder & Chief Operating Officer at DealShare.in, a post that he still retains.
Raveen Sastry
Raveen Sastry, Co-Founder of Myntra
Raveen Sastry co-founded Myntra after serving as a Product Manager in Xora and IPTouch Inc. After leaving Myntra, Sastry co-founded Hoopos.com and Babyoye.com, where he also served as the Head of Product along with being a co-founder.
NudgeSpot was the next company that Sastry founded. Raveen left NudgeSpot to serve Boomtrain as General Manager and Zeta Global as the Strategic Advisor and Vice President before becoming a Founding Partner of Multiply Ventures.
Nandita Sinha became the CEO of Myntra in 2022. With a strong background in business strategy, she has led Myntra’s growth and innovation in the e-commerce fashion sector.
Myntra Startup Story
Mukesh Bansal’s journey with Myntra company began after his time in Silicon Valley. He quit his US employment in 2007 to launch his own company in India. He toured shopping centers frequently to get ideas for creating personalized experiences while investigating both offline and internet sectors.
A visit to an abandoned commercial area in Pune proved to be the turning point. Bansal thought of a better way after observing unsold inventory in physical stores: offering these goods online. This realization resulted in Myntra becoming a platform that revolutionized online shopping by offering shoes, accessories, and apparel in addition to these products.
Mukesh Bansal helped other people with a background in software engineering realize their business goals as a co-founder. Between 2007 and 2010, Myntra concentrated on B2B sales of customizable gift goods that could be ordered on demand. The business gradually changed its emphasis from B2B to individual customer service.
In 2012, Myntra accomplished a noteworthy accomplishment by broadening its product portfolio to encompass 360 Indian and global brands. This was a turning point in Myntra’s development into India’s largest B2C fashion eCommerce marketplace, capping an incredible journey of success and transformation from a B2B firm.
Myntra – Mission and Vision
Myntra’s mission and vision are to provide “a hassle-free and enjoyable shopping experience to shoppers across the country with the widest range of brands and products on its portal.”
Myntra – Name and Logo
Myntra Logo
30th January 2021 – Myntra decided to replace its existing logo with a new one following a complaint that claimed it was offensive towards women. The Myntra logo was seen to depict the legs of women. Following all the controversy surrounding the Myntra logo issue, the online shopping app decided to change the logo on its website, its app, and all packaging material.
Myntra old vs new Logo
The parent company of Myntra is “Flipkart.”
Myntra – Business Model
Myntra has adopted an aggregator business model, facilitating direct consumer-brand connections (B2C). From its original business-to-business (B2B) model, it underwent a dramatic change to its current consumer-centric strategy. The core of Myntra’s business strategy is to procure the newest products from affiliated companies by the current fashion. This guarantees that the most sought-after products arrive at Myntra’s eCommerce site promptly, in accordance with their availability in the corresponding retail brand stores.
Throughout its development, Myntra has honed its function as a go-between for customers and high-end companies, simplifying the purchasing process. By transitioning to a direct-to-consumer model, Myntra ensures that fashion enthusiasts have swift access to the freshest offerings from their favorite brands, marking a seamless fusion of online and offline retail dynamics.
Myntra – Revenue Model
Myntra company makes revenue from different resources some of which are listed below:
Commission Fees: Depending on the product’s category and brand, Myntra’s primary revenue stream is the charging of a predetermined fee, which normally ranges from 4% to 5%.
Marketplace Services: Myntra makes money by giving different brands and merchants a place to display and sell their goods on its online marketplace.
Logistics Services: By making it easier for clients to store, package, and receive things, the company makes money through its logistics services.
Advertisement: Myntra makes use of its platform to facilitate the promotion of brands’ items to a broad audience, generating extra income.
Other Resources: To maintain a diversified and long-lasting financial strategy, Myntra investigates and makes money from several additional sources in addition to the main revenue streams.
Quick commerce platforms are adding beauty and fashion to their services, but Myntra will be one of the first fashion-focused platforms to try quick commerce with “M-Now.”
Myntra is testing quick delivery service in some parts of Bengaluru as per the reports on 23 November 2024. The service, called “M-Now,” promises delivery within two hours. Currently, it is available in a few Bengaluru areas with a small range of products to test how it works, according to a source.
In 2022, the Bengaluru-based company started a fast delivery service called M-Express in metro cities. The service aims to deliver products within 24 to 48 hours of ordering.
Myntra – Challenges Faced
Logistics proved to be a significant challenge for Myntra, a critical aspect for any eCommerce company striving to meet customer demands. The creative hybrid logistics model used by Myntra is responsible for its success. Early on, Myntra addressed the issue of supply chain management and logistics by putting into practice a plan that divided up the work strategically between the company and outside service providers according to demographics.
Nevertheless, this strategy brought with it a new set of difficulties as Myntra found it increasingly difficult to identify trustworthy third-party service providers who could give a top-notch experience. In response, the business made supply chain management a top priority and carefully selected delivery representatives who had a track record of providing top-notch service.
Myntra as an enterprise and a team has always placed a strong emphasis on the value of comprehensive contributions. To make sure that its short-term success is consistent with the broad ideals the brand upholds, the brand places a high weight on matching its values with society’s expectations.
Myntra has raised $569.8 million in 15 rounds of funding.
Here are the funding details:
Date
Stage
Amount
Investors
January 1, 2024
Corporate Round
$54 million
Flipkart
March 25, 2022
Corporate Round
$116 million
Flipkart
September 24, 2021
Post-IPO Equity
$58.7 million
FK Myntra Holdings
October 9, 2020
Post-IPO Equity
$103 million
FK Myntra Holdings
March 6, 2018
Post-IPO Equity
$63.7 million
FK Myntra Holdings
October 18, 2017
Debt Financing
$7.7 million
Kotak Mahindra Bank
January 31, 2014
Venture Round
$50 million
–
May 31, 2013
Venture Round
$25 million
–
February 1, 2013
Series E
$8 million
–
May 1, 2012
Series D
$25 million
–
August 1, 2011
Series C
$20.8 million
–
Myntra – Investments
On February 11, 2019, Myntra invested Zilingo with its Series D funding round, contributing $226 million. The eCommerce platform Zilingo uses technology to optimize the fashion and cosmetics supply chain.
Myntra – Mergers and Acquisitions
The company has seen 9 major acquisitions to date.
Below are the details:
Acquired
Date
Price
Pretr Online Services Pvt Ltd
August 1, 2018
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Blink (formerly Witworks)
April 16, 2018
–
20Dresses
November 29, 2017
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InLogg
April 19, 2017
–
Jabong.com
July 26, 2016
$70 Million
HRX
July 20, 2016
–
Cubeit
July 12, 2016
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FITIQUETTE
April 4, 2013
–
Exclusively
November 9, 2012
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Myntra – Growth and Revenue
It has 60 million average users as of March 2024
The company has over 6,000 brands as of March 2024
It has delivered to over 19,000 pin codes across India as of March 2024
It has 75 million new app users as of December 2023
Myntra offers products from more than 6,000 brands as of December 2022
Financials
Myntra Financials
FY23
FY24
Operating Revenue
INR 4,465 crore
INR 5,122 crore
Total Expenses
INR 5,290 crore
INR 5,123 crore
Profit/Loss
Loss of INR 782.4 crore
Profit of INR 30.9 crore
Myntra Financials
Myntra – Partnerships
Myntra has partnered with many companies. Some of the prominent ones are:
Abercrombie & Fitch Co. announced a multi-year partnership with Myntra Jabong to expand its brand presence in India. Myntra Jabong will establish physical stores, regional e-commerce platforms, and digital storefronts through licensed third parties as part of the franchise agreement.
YouTube has partnered with Flipkart and Myntra to launch the YouTube Shopping Affiliate Program in India. This allows eligible creators to tag products in their videos, Shorts, and live streams, earning revenue when viewers make purchases on the retailers’ sites. The program is already active in countries like the US, Indonesia, and Brazil.
Myntra signed a pact with a UK-based fashion house in November 2023, Boohoo Group. This deal will allow Booho Group brands such as Boohoo, Dorothy Perkins (DP), and Nasty Gal to enter into Indian markets.
23rd August 2021 – Myntra has announced its partnership with London-based digital fashion brand Urbanic, whoseselection is available from 1st September. This Myntra-Urbanic partnership would be scaling the accessibility of the brand in foreign markets, targeting especially Gen Z and the millennials, who are the trendsetters of the eCommerce platform.
“We are elated to be joining forces with Urbanic to bring the best of fashion-in-trend to our thriving base of young shoppers namely Gen-Z and millennials, who are steadily shaping the future of eCommerce. With their extremely high digital presence combined with a keen sense of style, they are poised to become one of Myntra’s dominant consumer bases and this partnership helps us boost our portfolio to cater to their distinctive fashion choices,” Myntra’s Chief Business Officer Ayyappan Rajagopal said.
Myntra has unveiled Maya, a virtual fashion influencer, as part of its commitment to enhancing the customer experience. Maya is a digital avatar that combines fashion expertise with the latest technology, providing interactive content and sharing fashion tips, style recommendations, and the latest trends. This innovative initiative demonstrates Myntra’s dedication to staying ahead in the ever-evolving world of fashion eCommerce.
By introducing Maya as a virtual fashion influencer, Myntra showcases its commitment to pushing boundaries and embracing innovative approaches in the fashion eCommerce landscape. Maya’s presence strengthens Myntra’s position as a pioneer, constantly striving to deliver exceptional customer experiences and cater to the evolving needs of its audience.
Myntra – Advertisements and Social Media Campaigns
Myntra Fashion with Caution!
Myntra launched a new ad campaign called “Fashion with Caution” in January 2025. It features Bollywood stars Ranbir Kapoor and Triptii Dimri in funny roles as regular people who accidentally create chaos just by looking like themselves.
The campaign includes two creative ads promoting Myntra’s ‘Celeb Looks’ collection, offering stylish outfits for under INR 999.
Myntra Campaign
Ahead of the Big Fashion Festival (BFF) in 2023, Myntra unveiled its ‘Dress-up Season’ campaign, starring actors Sidharth Malhotra and Kiara Advani. Originally slated for October, the yearly celebratory shopping frenzy aims to place fashion at the center of the celebrations.
The ad emphasizes the importance of fashion in festivities and the fun that comes with “dressing up” for special events. With Sidharth and Kiara celebrating their first Diwali together as a married couple, Myntra wants to convey the spirit of the occasion and highlight the platform’s significant contribution to their joyous occasions.
Myntra has bagged quite a few titles under its name.
Myntra won various awards in 2022, some of these are ET Future Ready Organization/D&I Culture, Kaleidoscope Award for best campaigns, Brand Excellence Award by Economic Times for Marketing Campaign, and more.
Myntra was acknowledged as India’s Most Admired and Valuable Power Brand Award 2016 at the 7th Annual India Leadership Conclave and Indian Affairs Business Leadership Awards 2016.
Myntra.com was announced as a winner of the Red Herring Global 100 award.
CNBC – TV18 recognized Myntra’s website as one of the Hottest Internet Companies of the Year.
It has also been awarded ‘Fashion eRetailer of the Year 2013’ by Franchise India’s eRetail Awards.
Myntra’s online app and website also bagged the title of ‘Best E-commerce Website for 2012’ by the IAMAI India Digital Awards.
The venture was also awarded ‘Images Most Admired Retailer of the Year: Non-Store Retail’ for 2012 by Images Group.
Puma India awarded Myntra with the ‘Best E-commerce Partner of the Year 2011–12’.
When Myntra started, no vendors were providing such seamless and exclusive shopping experiences to consumers. However, over time, its competitors have increased in India.
Myntra’s growth focuses on offering trendy products, increasing sales in non-clothing categories, promoting premium fashion through beauty, international, and direct-to-consumer (D2C) brands, expanding into smaller cities, and creating special products for the rising Gen-Z audience.
To solidify its position as a major player in the Indian fashion industry, Myntra intends to capitalize on its recent franchise arrangement with UK fashion brand NEXT. Through the partnership, Myntra will be able to open NEXT-branded stores all over India, increasing its omni-channel footprint and product choices.
In addition, Myntra wants to keep up its dedication to providing its clients with a seamless and pleasurable shopping experience by expanding its selection of fashionable goods. In addition, Myntra will concentrate on fortifying Myntra Jabong Pvt. Ltd, its B2B wholesale company, to efficiently distribute NEXT’s goods and capitalize on the sizeable and varied Indian market. In general, Myntra’s goals for the future are to propel expansion, innovation, and client happiness in the dynamic field of fashion eCommerce.
FAQs
Who is Myntra founder?
Mukesh Bansal, Ashutosh Lawania, and Vineet Saxena founded Myntra in 2007.
What is Myntra?
Myntra is one of the largest fashion eCommerce stores in India that deals with a wide range of fashion and lifestyle products for men, women, and kids. Myntra online shopping platform offers a wide range of fashion and lifestyle products. Myntra shopping offers a seamless experience to its customers.
Is Myntra an Indian company?
Yes, Myntra is an Indian company founded by Mukesh Bansal, Ashutosh Lawania, and Vineet Saxena. Its parent organization is Flipkart.
Who is Myntra parent organization?
Myntra is owned by Flipkart. Flipkart acquired Myntra in May 2014 for INR 2,000 crores.
What is Myntra business model?
Myntra is an online fashion and lifestyle retailer. It operates on a B2C (business-to-consumer) model, offering clothing, accessories, footwear, and home products.
What is Myntra launch date?
Myntra was launched in 2007. Myntra India is a popular destination for online fashion and lifestyle shopping.
Is Myntra B2B or B2C?
Myntra is a B2C eCommerce fashion brand.
How does Myntra make money?
Myntra operates on an aggregator model and its major source of income is from commissions.
Prominent fintech companies, such as Paytm and PayU, have refuted claims that they are one of a few payment gateways under investigation by the Enforcement Directorate (ED) in connection with a cryptocurrency scam.
In response to the account freezing reports, Paytm denied receiving any notice of this kind from the Enforcement Directorate. The company also confirmed that it has not received any new notices, communications, or enquiries from the Enforcement Directorate about the subject matter covered in the media articles. The published material is misleading and factually inaccurate, as per Paytm.
Paytm went on to explain that the cases being covered by the media right now are related to similar previous enquiries about third-party merchants. Furthermore, it stated that Paytm would want to make it clear that these merchants are separate businesses and are not affiliated with its organisation. It attested to the company’s complete cooperation with the authorities and compliance with all of their directives, Paytm continued.
In response to the reports, PayU also said that it strongly rejects any misrepresentations and that there are factual errors in the reports about PayU. PayU has consistently upheld the highest standards of governance and transparency in all of our activities and has remained dedicated to abiding by all applicable laws and regulations.
ED Reportedly Frozen INR 500Cr
A renowned media house has reported that the ED had frozen about INR 500 crore in virtual accounts of eight payment gateways, including Razorpay, PayU, Easebuzz, and Paytm, as part of its investigation into one of the biggest cryptocurrency scams in India, the HPZ Token scam, which was run by ten Chinese nationals and allegedly involved the collection of over INR 2,200 crore from investors across 20 states. WunderBaked, AgreePay, and SpeedPay were also allegedly involved.
Company
Amount Upheld by ED
Easebuzz
INR 33.4 crore
Razorpay
INR 18 crore
CashFree
INR 10.6 crore
Paytm
INR 2.8 crore
PayU
INR 130 crore
Step by Step- How Scam was Piloted?
Through the smartphone app HPZ Token, the accused reportedly persuaded others to invest in cryptocurrency mining, including Bitcoin. Through the incorporation of businesses in at least 20 states and the usage of more than 200 bank accounts, they ran a pan-Indian network. During the holding period, the ED used payment gateways to intercept the funds that were sent overseas.
According to reports, the ED was investigating if the payment gateways notified the Financial Intelligence Unit and the Reserve Bank of India (RBI) and produced Suspicious Transaction Reports (STRs).
Periodically, all financial institutions must submit STRs, which the RBI then forwards to the Financial Intelligence Unit for additional analysis. A Nagaland PMLA court on January 22, 2025, declared Bhupesh Arora, a major accused, a fugitive economic offender. After the ED started its investigation and disregarded a non-bailable warrant, Arora fled to Dubai in 2022. 298 participants in the scheme are named in the chargesheet.
Avinash kumar mahato
