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  • Tarun Mehta: Driving India’s EV Revolution

    Tarun Mehta is the face of innovation, sustainability, and India’s mobility future. He is the co-founder of Ather Energy, a company that is changing the EV narrative in a country that balances tradition with modernity.

    Tarun was born in a Marwari family that believed in discipline and aim in Ahmedabad, Gujarat. Tarun’s story proves the power of vision resilience and leaves a lasting impression. Great ideas, when combined with hard work and grit, can transform this world. 

    We will explore the life of this visionary entrepreneur. Moreover, we will read about his early life, career milestones, education, controversies, and how he overcame challenges to help drive the EV revolution in India.

    Tarun Mehta – Biography

    Name Tarun Mehta
    Birthplace Ahmedabad
    Born October 31, 1989
    Nationality Indian
    Education IIT Madras
    Position Co-founder and CEO, Ather
    Website Atherenergy.com

    Tarun Mehta – Early Life
    Tarun Mehta – Career
    Tarun Mehta – Ather
    Tarun Mehta – Controversies
    Tarun Mehta – Awards and Recognition

    Tarun Mehta – Early Life

    Tarun Mehta was born in Ahmedabad, Gujarat, on October 31, 1989, to a traditional Marwari family that advocated discipline, culture, and ambition. Tarun was a naturally curious creature and a man who was determined in all his work from an early age. His formative years in Ahmedabad were critical.

    During his school years, Tarun was a sharp intellect and a relentless seeker of knowledge. His academic performance and ability to tackle challenges with determination and focus were always consistent.

    After finishing his primary education, he took up the challenge of cracking the IIT-JEE with an open heart and prepared himself so that no stone was left unturned. With sheer hard work and laser-sharp focus, he overcame every obstacle.

    His efforts paid off. He excelled at the IIT-JEE and secured a seat for himself at IIT Madras. Tarun opted for Mechanical Engineering there, attracted by innovations.

    His interest in entrepreneurship began quite early. He was part of the Entrepreneurship Cell at IIT Madras during his second year and learned how to build and run businesses. This experience polished his skills and connected him with like-minded individuals.

    That was when Tarun met Swapnil Jain, another engineering branch mate. The two loved problem-solving and sustainable technology, so they’d talk about starting something of their own. Moved by the same vision, they wanted to implement their ideas and create a startup to tackle the burning issues in sustainability and mobility.

    The pair started to think of ideas and eventually hit upon Ather Energy, which means the Greek word ‘Ather’, which means pure. This name stood for their dedication to building clean and efficient technologies. Their first target was to develop cleaner engines, but as they got into the business of electric vehicles, that would become their life’s work.

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    Tarun Mehta – Career

    Tarun’s professional journey began during his college years with internships that provided him with valuable industry insights:

    • National Institute of Design (NID), Ahmedabad (2009): Tarun researched the concept of open innovation and how companies use collaborative strategies to drive market innovation.
    • 2010, Mercedes-Benz Research and Development, India: He worked on engine weight reduction for diesel engines in passenger cars, which led to insights into engine manufacturing and optimization.
    • Bharat Heavy Electricals Limited (BHEL, 2011): He designed, prototyped, and tested equipment for coal ash testing at BHEL and proved he could translate theoretical knowledge into real-world solutions.

    Tarun did his degree and joined Ashok Leyland as Deputy Manager in 2012. He worked on campus, within the sprawling Chennai campus. Even with limited resources and slow onboarding processes—he didn’t have a dedicated computer for the first few months—this phase gave him a chance to contemplate his career aspirations.

    Founding Ather Energy

    When Tarun returned to IIT Madras, he and his college friend Swapnil Jain started looking for opportunities in electric mobility. The duo realized that electric vehicles (EVs) could change the game of the automotive industry, so they founded Ather Energy in 2013. 

    They started in an empty hostel room, with much work to improve battery packs and reimagine EV technology.

    Launching an EV startup in India was not as easy as it seems. Tarun faced numerous challenges:

    • Talent Acquisition: Individuals with expertise in electric vehicles and new product development were particularly hard to find.
    • Technology Investment: A persistent hurdle was convincing investors to support significant upfront investments in technology.

    But Tarun and his team were determined to create a fully indigenous product. So, they designed India’s first intelligent electric scooters, the Ather 450X and 450, with their advanced technology, exceptional design, and user-friendly features.

    Ather’s philosophy was driven by Tarun’s belief that “electricity doesn’t mean some new invention; it’s a better product.” He even foresaw that electricity would eventually dethrone petrol, outclassing it in performance and the environment.

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    Strategic Partnerships

    • Hero MotoCorp: This partnership gave us great insights about the rigorous product testing and helped Ather get focused on customer experience.
    • Sachin Bansal: The advice of the Flipkart co-founder to prioritize customer love over cost reduction shaped Ather’s product development.
    • Scaling Ather Energy: Ather Energy, led by Tarun, has raised over $170 million and reached an $800 million valuation by 2023. Revenue was reported at INR 2,000 crore ($300 million) early in 2023, and the company hopes to reach $1 billion by year-end.

    Advocacy for EV Ecosystems

    Tarun Mehta believes that the adoption of EV technology will be successful only if an ecosystem for electric vehicles (EVs) is built comprehensively and sustainably. His advocacy extends across multiple facets of the EV ecosystem:

    Developing Robust Charging Infrastructure

    Tarun has emphasized the need for an accessible and widely spread charging station network. Ather Energy was the first to introduce Ather Grid, India’s first network of bright charging points for Ather scooters and other electric vehicles. These charging points are strategically placed in cities, so EV charging is as convenient as petrol vehicle refueling.

    In a world where charging stations are just as common as fuel stations, Tarun sees a future of long-distance travel and reduced range anxiety among EV users.

    Collaborating with Suppliers and Stakeholders

    Tarun has been very active with suppliers and manufacturers to ensure that a localized supply chain is set up to ensure seamless operations and high-quality products. This would involve sourcing all Indian-made parts like batteries, motors, and controllers to decrease import dependency and manufacturing costs.

    He works with stakeholders such as policymakers and industry leaders to create a space for fast-paced innovation in EVs.

    Promoting Policies Encouraging EV Adoption

    Tarun supports government policies that make EVs more attractive to consumers. His focus areas include:

    • Subsidies and Incentives: Tarun has said that EVs need financial incentives, such as tax breaks and subsidies, to be competitive.
    • Regulatory Support: He has also demanded stricter emission norms and fuel efficiency standards to motivate automakers to adopt cleaner technologies.
    • Battery Recycling and Disposal Policies: Tarun is actively developing practices to reduce the negative environmental impact of recycling and disposing of waste batteries from used EVs.

    Tarun Mehta – Ather

    Tarun Mehta’s career is a story of perseverance, innovation, and sustainability. From a hostel room in his early days to revolutionizing India’s EV landscape, his story is a testament to his vision, hard work, and relentless focus on delivering value to customers. Through Ather Energy, he continues to inspire a new generation of entrepreneurs and build a greener, more connected future.

    Tarun Mehta and Swapnil Jain co-founded Ather Energy in 2013, and in a short time, it emerged as an EV market pioneer in India. IIT Madras alumnus Mehta embodies patience and precision, perfectly exemplifying how Ather has journeyed. He oversaw the company, spending five years developing its first electric scooter from the ground up, ensuring it was up to the highest standards before rolling onto the streets. Mehta’s keenness on the premium market means Ather also focuses on it.

    Ather’s ethos is deep R&D; its scooters result from a decade of research into battery technology and design. The Ather 450 series, including the 450X and 450 Plus, showcases cutting-edge features, lightweight aluminum structures, and long-lasting batteries. Ather batteries are proudly durable, retaining 85-90% capacity even after years of use, cementing Ather’s reputation as the safest and most reliable EV on the market.

    For Tarun Mehta, competition is a growth catalyst, and he is open to leading legacy players such as Hero and Bajaj into the EV space. “The more we have in the EV space, the more options we have for the consumer and us manufacturers,” he says. Mehta believes the industry’s united effort is the first step in speeding up the shift from internal combustion engines to electric vehicles and creating a better environment for consumers to become aware of and trust electric cars.

    Ather Financials
    Ather Financials

    Ather Energy made a revenue of INR 1,789 crore in the financial year 2024, which is about the same as the previous year. However, the company’s losses increased by over 22%, reaching INR 1,059 crore during this time.

    Ather embodies India’s Aatmanirbhar Bharat vision. The company differentiates itself from the pack by designing and building its scooters domestically and with pioneering touchscreen dashboards, even before smartphones were made in India. With over 10,000 employees, the company has filed 60 to 70 patents. It is leading the EV industry in R&D. Mehta’s focus is now on manufacturing lithium-ion cells, using government incentives to reduce dependence on imports and build self-reliance.

    Under Mehta’s guidance, Ather has scaled its monthly production to 35,000 units, consistently attempting to hit 30,000 units. Its Hosur plant, near Bangalore, is the backbone of its operations, and the company is already planning its next manufacturing facility. Mehta says profitability is a few years away. Still, he is confident Ather can reach $1 billion in revenues this year, putting the company on track to become a global EV leader.

    Ather has changed the game on EV charging with its fast charging network, Ather Grid, which has more than 1,000 points across 80+ cities in India. Thanks to forward and backward compatibility, Mehta’s decision to offer chargers as optional accessories means that customers upgrading to newer models will enjoy a seamless and cost-effective experience.

    The Ather philosophy is all about quality and innovation. The company improves user experience by adding features like Ather Stack 5.0 to its robust aluminum scooter frames. Mehta’s philosophy of remaining faithful to Ather’s vision, guided by early input from investor Sachin Bansal, means the brand can withstand the rapid change in the industry.

    Tarun Mehta, now 35, has already etched his name in India’s EV landscape. Under his leadership, Ather Energy has become a symbol of innovation, self-reliance, and sustainability. Mehta’s visionary leadership is set to reframe the future of electric mobility for Ather Energy, which has ambitious plans for scaling production, upgrading technology, and entering the global market.

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    Tarun Mehta – Controversies

    Onam Celebration Backlash

    Tarun Mehta - Controversy
    Tarun Mehta – Controversy

    In August 2024, Ather Energy was criticized online for sharing pictures of its office’s Onam celebration. The images also showed employees feasting on an Onam Sadhya meal and co-founders Tarun Mehta and Swapnil Jain in traditional Kerala attire. However, including chapatti, a non-traditional Sadhya item, received widespread backlash online.

    One of Kerala’s most significant cultural festivals, the Sadhya, traditionally served on banana leaves, is one of the most important parts of Onam. However, the addition of chapatti, a northern Indian staple, was a cultural faux pas that was criticized on social media platforms. Users were disappointed with the inconsistency in honoring Kerala’s traditions.

    The incident turned controversial, though. Ather’s CEO, Tarun Mehta, posted the photos to show the company’s festive spirit. Later, Ather released a statement admitting the mistake and explaining that they didn’t want to mark Onam in a way that would hurt people.

    Customer Service Complaints

    Like many growing companies, Ather Energy has faced occasional criticism of its customer service. Social media has been filled with issues ranging from scooter delivery delays to worries about after-sales support. Some customers have complained that the service centers have been slow in resolving technical problems, resulting in frustration.

    Ather has made quite some efforts to improve customer service by bringing in online responsive support channels and service camps; however, these incidents indicate the scale of operations and their service standards.

    Tarun Mehta – Awards and Recognition

    • Listed on the Forbes 30 under 30 in 2018 
    • He is also listed on the Fortune 40 under 40 list in 2017 & 2019 for the innovative product. 
    • Received Jagdish Khattar Rising Star Award in 2023 
    • AIMA India dedicated the Young Entrepreneur Award in 2023 to Tarun Mehta
    • He received the IBT CEO Awards 2024, which was recognized for his leadership at Ather.
    • Electric Two Wheeler of the Year Award from Zee News was received by Tarun Mehta in 2021 for Ather 450X.

    FAQs

    Who is Tarun Mehta?

    Tarun Mehta is the co-founder and CEO of Ather Energy.

    What is Tarun Mehta education?

    Tarun Mehta completed his Bachelor’s and Master’s in Engineering Design from the Indian Institute of Technology (IIT) Madras. His education laid the foundation for his innovative work in the electric vehicle industry.

    What is Tarun Mehta age?

    Tarun Mehta is 35 years old. He was born on 31 October 1989.

  • Rahul Goenka Discusses ElectroRide’s Vision to Transform India’s EV Market and Drive Sustainable Mobility

    In this interaction with Rahul Goenka, Director at ElectroRide, we discuss the company’s plans to transform India’s electric vehicle (EV) sector. ElectroRide, building on the legacy of Goenka Motors, aims to make EVs more accessible by removing market barriers and offering end-to-end EV solutions to customers. Goenka talks about how ElectroRide is expanding its reach, improving charging infrastructure, and meeting the needs of last-mile mobility. He also shares details on the company’s partnerships, challenges in scaling, and how government policies are helping the growth of the EV industry. With a goal to introduce 100,000 EVs, ElectroRide is working towards a greener future for India.

    StartupTalky: Give us a brief overview of ElectroRide and its mission in India’s e-mobility space.

    Mr. Goenka: Building on the legacy of Goenka Motors, ElectroRide is a leading multi-brand electric vehicle retail chain in India, aiming to revolutionize India’s EV landscape. Our mission is to democratize EV adoption by tackling market barriers for manufacturers, equipping our franchisee dealers, providing end-to-end EV solutions to customers, and improving overall electric vehicle access for the general public.

    Dedicated to strengthening India’s E-mobility sector, we have established strategic partnerships with industry leaders such as Battery Smart and SAR Group, offering innovative solutions. To make electric mobility adoption simple, economical, and efficient, we have enhanced operational efficiencies, expanded our service offerings, and accelerated growth. Prioritizing EV adoption, we aim to introduce 100,000 EVs on Indian roads, driving a sustainable future for India, one electric vehicle at a time.

    StartupTalky: How do you see the e-mobility industry evolving in India, and what key factors will drive its growth?

    Mr. Goenka: India, as one of the world’s largest automobile markets, will play a pivotal role in the global transition to electric vehicles. According to the Fortune Business Insights, India’s EV sector will witness a CAGR of 22.4%, growing from USD 23.38 billion in 2024 to USD 117.78 billion by 2032. Driven by the Indian Government’s commitment to sustainable mobility, increasing consumer demand, and collaboration between private players, the electric vehicle sale in India is expected to reach 10 million by 2030.

    Facilitating the adoption of electric vehicles, the government has implemented policies such as the National Electric Mobility Mission Plan (NEMMP) and the Faster Adoption and Manufacturing of Hybrid & Electric Vehicles (FAME) scheme. These initiatives aim to reduce India’s dependence on crude oil and promote a cleaner environment. Providing financial incentives, especially to lower-income groups, will accelerate the EV adoption rate across the country. Increasing environmental concerns, rising fuel costs, and improvements in battery technology have further made electric vehicles more efficient and appealing to the masses.

    StartupTalky: ElectroRide aims to roll out more than 100,000 vehicles in the next few years. What is the strategy behind this ambitious plan and the challenges you foresee?

    Mr. Goenka: As we prepare to deliver over 100,000 vehicles in the coming years, we are proactively working to address potential challenges. Our key focus areas include overseeing logistics and distribution, scaling operations, maintaining supply chain efficiency, and easy financing options. To achieve this ambitious goal, we are optimizing logistics and strengthening our supplier relationships. Our adaptable strategies prioritize smooth delivery and customer satisfaction, promoting the growth rate of EV adoption.

    Furthermore, to overcome the critical issue of retail finance, we are collaborating with financiers and establishing our own NBFC, to provide easy financing options for our customers. This approach will enable us to widen our reach in rural markets, where limited financing options hinder EV adoption. By bridging this gap, we are committed to making electric vehicle ownership more accessible and affordable for all.

    StartupTalky: With ElectroRide’s focus on charging infrastructure, how are you collaborating with partners like Battery Smart and the SAR Group to enhance accessibility for EV users?

    Mr. Goenka: As we are rapidly embracing sustainable transportation, the demand for accessible and efficient charging networks is more significant than ever. A robust charging infrastructure is crucial for providing convenience, mitigating range anxiety, and encouraging eco-friendly transport alternatives nationwide. Two or three-wheeler EVs require basic charging points, which can be established at parking lots, improving the charging infrastructure accessibility.

    At ElectroRide, we have teamed up with Battery Smart to augment the charging infrastructure and revolutionize electric mobility in India. Initially, this strategic partnership will set up 50 swap stations across Delhi and Uttar Pradesh, with plans to expand to 2,500 locations in the next five years. This collaborative effort aligns with the government’s push towards greener transportation solutions, making electric vehicles more viable for the masses.

    By incorporating battery-swapping technology, ElectroRide also plans to deploy 100,000 vehicles, extending their range and fostering a paradigm shift towards cleaner mobility solutions.

    StartupTalky: How is ElectroRide addressing the evolving needs of last-mile mobility through its diverse range of electric vehicles?

    Mr. Goenka: At ElectroRide, we recognize the paramount role electric vehicles play in transforming last-mile mobility. As an industry pioneer in the e-mobility sector, we provide a diverse range of electric vehicles, meeting the evolving demands of last-mile delivery. Our sustainable and innovative portfolio includes motorcycles, three-wheelers, and eco-mobility products, all designed to mitigate environmental impact, lower costs, and improve air quality. By providing reliable and durable products and continuously exploring new market avenues, EV companies can stay ahead in the e-mobility sector.

    ElectroRide is also navigating opportunities in electric two-wheelers and commercial vehicles, to expand its reach to international markets. Additionally, we are also exploring innovative business models, such as rent-to-own and customer leasing options, where customers can gain access to the vehicle without paying the upfront purchasing costs. Our goal is to diversify our offerings, cover new growth areas, and maintain our commitment to innovation and sustainability.

    StartupTalky: Could you elaborate on your recent alliances with the largest food delivery, quick commerce, e-commerce, and last-mile logistics platforms? How do these partnerships align with your goals?

    Mr. Goenka: We’ve been in discussions with various platforms for a while now to explore opportunities in last-mile fleet operations. Once these partnerships come to fruition, they will mark a significant milestone in our mission to disrupt India’s last-mile mobility landscape. The last-mile delivery market is crowded, but we see tremendous scope for disruption. Most existing players are pure-play fleet operators with limited technological capabilities.

    We firmly believe that technology will play a crucial role in disrupting this low-margin market. Currently, our software is in the beta testing phase, and we’ll launch this vertical as soon as we’re technologically ready. Additionally, we’re focused on introducing more durable, reliable, and high-range vehicles, as well as integrating them with our high-density swapping network. This approach will not only provide timely and reliable services to end customers but also enhance the earning potential for riders and, subsequently, for us.

    Through collaborations with leading industry players, ElectroRide is expanding its reach and contributing to a more sustainable mobility ecosystem.

    StartupTalky: How is ElectroRide expanding its dealer network and retail presence to make EVs more accessible to customers across India?

    Mr. Goenka: At ElectroRide, we are committed to making electric vehicles more accessible across India. To achieve this, we are exponentially expanding our dealer network and retail presence through a multi-step strategic approach. By establishing a far-reaching network of showrooms and service centres across India, ElectroRide plans to establish itself as one of the leading EV retail chains. It will allow us to reach a wider audience, providing them with a bespoke customer experience.

    By offering a diverse range of Electric Two-Wheelers, Three-wheelers, and cutting-edge eco-mobility solutions, we will allow our customers to explore and choose EVs best fitted for their needs. Furthermore, by providing durable and exceptional EVs and their spare parts to customers, even parts of EV models that are discontinued, we can establish our retail chain as reliable.

    Our goal is to establish a strong market presence through a unique value proposition and customer-centric approach. By doing so, we aim to position ElectroRide as the preferred choice for EV enthusiasts and environmentally conscious customers across India. This endeavor will further be supported by our own NBFC to make the acquisition of EVs easy for our customers.

    Mr. Goenka: The EV two-wheeler sales crossed the 1 million mark as of November 2024 for the first time in a calendar year, highlighting the growing demand for EVs among consumers. During the recent festive season, we witnessed a significant surge in EV sales, particularly among first-time users and young buyers.

    As EV owners’ expectations for a seamless purchasing experience have grown tremendously, we see a notable rise in demand for expert after-sales services. To cater to every need of our customers, we prioritise customer satisfaction through our after-sales services. Along with high-end services like Roadside Assistance, Cashless Insurance, and Extended Warranty, we also provide driver training programs to 3-wheeler drivers. Additionally, customers prefer easy finance options or incentives. Creating a streamlined and supportive ecosystem for EV users will therefore drive India’s EV growth.

    These initiatives shape our growth strategy, as we focus on establishing an extensive network of dealerships and workshops, leveraging our 50+ years of dealership experience.

    StartupTalky: ElectroRide aims to become the ‘Croma’ of the EV industry. How are you building a multi-brand ecosystem that prioritises both innovation and customer experience?

    Mr. Goenka: At ElectroRide, our vision is to become the ‘Croma’ of the EV industry, establishing ourselves as a one-stop shop for all electric vehicle needs. We are building a multi-brand ecosystem, prioritising both innovation and customer experience to achieve this. We have created a centralized platform that integrates multiple brands, products, and services, making it easy for customers to navigate and find what they need.

    Additionally, we collaborate with leading brands and service providers to expand our offerings and provide reliable, durable, and high-performing EVs, enhancing our overall value proposition. Furthermore, we provide robust post-sales services, ensuring every customer receives constant support and maintenance, improving customer retention and loyalty. By focusing on innovation, customer experience, and after-sales service, we are creating a comprehensive ecosystem, setting us apart in the EV industry.

    StartupTalky: What are your long-term goals for ElectroRide, and how do you see the company contributing to India’s EV revolution in the next 5 years?

    Mr. Goenka: Our vision at ElectroRide is to revolutionize the electric vehicle landscape by establishing ourselves as the largest retail chain of electric vehicles in India. As the demand for sustainable and ecologically viable transport is on the rise, EVs have emerged as a pivotal solution to tackle climate change. To support India’s EV adoption and achieve our long-term goals, we are committed to making sustainable transportation accessible to all, catering to diverse passenger needs across the country.

    Furthermore, to support the growth of charging infrastructure in India, we are partnering with industry pioneers to set up charging and battery-swapping stations across the nation. With plans to set up more than 2,500 charging stations in the coming years, our vision is to mitigate EV anxiety in consumers, promoting widespread EV adoption. By creating a robust ecosystem of electric vehicles, we aim to drive innovation, set new benchmarks in performance and efficiency, and provide end-to-end mobility solutions.

    Our goal is to lead the change toward a greener future, where electric mobility is the standard, not the exception.

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  • How to Celebrate Republic Day in the Office?

    While the Independence Day of India celebrates Indian independence, Republic Day commemorates the turning of the country into a republic. It was on the 26th of January 1950 that the Indian constitution came into effect when the country replaced the Government of India Act (1935) with the Indian constitution, and the country has celebrated this day ever since. January 26 also had another significance because it was on the same date that the Indian National Congress (INC) declared Purna Swaraj for the country, which is why it was chosen as the Republic Day of India. Republic Day in India is bound to echo waves of patriotism throughout the nation, much like the 15th of August, Independence Day.

    Every year, Republic Day is celebrated in India on the 26th of January with enthusiasm and excitement. The day is primarily celebrated at the center of India and the National Capital, New Delhi, and is known for the ceremonious parades and tableaux that march along the Rajpath before the President of India. This occasion consists of the Indian National Army and the people of India, along with the national leaders of the state and the country, accompanied by the hoisting of the national flag. Celebrations of Republic Day are not only confined to the capital of India but reverberate throughout the nation, including schools, colleges, universities, government and private buildings and properties, clubs and parks, and the houses of the common citizens of India.

    Though the occasions back at our homes can be carried out in our own ways, basking in the spirit of patriotism, when it comes to office Republic Day functions at the office, things need to be organized and presented perfectly, wrapped in patriotic fervor. Here, if you are serving as the organizing head, a Manager or an HR, the co-founder or a CEO of a company or a startup, then you need to ensure to make a mark with unique Republic Day celebrations at your office.

    Office festival festivities are an admirable attempt to bring a smile to the faces of the workers and improve productivity further. Besides, Republic Day celebrations right ahead of a new year thus ensure a perfect start to the year as such occasions often also serve as ice-breakers that involve the newbies and veterans, thereby boosting the team spirit and morale. Over the years, the Constitution of India has evolved and changed a lot. Therefore, there is no better way than a decent celebration of Republic Day at your office, albeit from the comfort of the employees’ homes, as it is with many companies. This article will help you find some great ways for the Republic Day ideas celebration in office.

    Unique Republic Day Celebration Ideas for the Office
    How to Celebrate Republic Day for Offices Working from Home

    Unique Republic Day Celebration Ideas for the Office

    First up, let’s start with a fantastic set of ideas that you can deck out this Republic Day at your physical offices for the companies that are working from their offices or have adapted to the hybrid culture. Below are some of the Republic Day activities for employees in the office. So, let’s dive into it now:

    Decorating the Office and Cubicles

    Decorating the office building and the work floor almost always fills the employees with enthusiasm. Besides, decking the office for such a memorable occasion as Republic Day is unmissable. Incorporating Republic Day employee engagement ideas by decorating the office with colorful balloons, ribbons, rangolis, and other decorative elements, focusing on the tricolor of the Indian flag, would certainly swell things up with pride back at your office!

    Republic Day Decoration Ideas in Office - Decorating the Cubicles
    Ideas for Republic Day Celebration in Office – Decorating the Cubicles

    Competitions and Fun Games

    Incorporating Republic Day games for employees in office for employees into the celebration will add an extra layer of excitement. Arranging games for Republic Day celebration in office based on singing, dressing, and other engaging activities provides a perfect opportunity for everyone to participate. After all, who doesn’t appreciate being recognized and awarded for their efforts as an employee? The distribution of awards for the winners will play a central role in making this event a memorable and enjoyable experience for all.

    Maintaining a Dress Code

    Activities for Republic Day in Office - Republic Day Dress Code in Office
    Activities for Republic Day in Office – Republic Day Dress Code in Office

    Observing a dress code is almost mandatory for many occasions and weddings, so why not make it a central part of the Republic Day activities in office? Draping us in the colors of India is not only colorful but thrilling, to say the least! Here, you can also reward the best-dressed employees. This can be one of the most fun and colorful Republic Day office event ideas.

    Organizing Quiz Competitions

    One of the most interesting office activities for Republic Day could be organizing quiz competitions. India is recognized as a land of brave fighters and warriors who have fought bravely for the country’s independence. The story of India’s independence is about astounding interdependence; recalling the same is a matter of question. Therefore, it is fun to put our knowledge to the test on Republic Day, where each employee can participate in this quiz about the country’s independence and its brave freedom fighters.

    Foodies’ Delight

    An occasion or a get-together, including Republic Day activities in the office, should be accompanied by scrumptious delights to be whole. Therefore, the food is a central part of the Republic Day occasion, which your office must not miss out on. So, decide on a menu that people and gets your employees satiated to the brim!

    Singing Along

    The employees can all sing along and express their joy on the joyous occasion of 26 January. Singing songs is an amazing mood lifter and should be a must on occasions of all sorts. Music has a huge effect on our body and mind, and singing together further boosts our mood and confidence and infuses the feeling of brotherhood. So, even the office employees can enjoy to the fullest in a sing-along show packed with loads of fun and laughter on this Republic Day. It can be one of the most fun activities for employees on Republic Day.

    Flag Hoisting Ceremony

    Republic Day Celebration Ideas in Office - Flag Hoisting Ceremony
    Republic Day Celebration Ideas in Office – Flag Hoisting Ceremony

    Consider organizing a flag-hoisting ceremony in the office for a modest yet meaningful Republic Day celebration. Hoisting the flag symbolizes our collective identity as proud citizens of this remarkable nation. 26th January celebration in office can include incorporating diverse cultural elements representing various regions, states, and languages. These may sometimes differentiate us but ultimately serve as threads that weave us together under the common banner of being Indians.

    Experience a Film Celebrating National Pride

    Embrace the cinematic spirit of patriotism by organizing a movie-watching event as part of your Republic Day celebration at office. Let the employees choose a patriotic film through a poll, creating an engaging and collective experience. With popcorn and cola on hand, it’s a simple yet impactful way to revive our patriotic spirit together. Consider incorporating other Republic Day program ideas to enhance the overall celebration.

    Organize a Fundraiser

    Mobilize a fundraiser to generate funds for a charitable organization dedicated to enhancing the community’s well-being. This endeavor will foster a heightened sense of responsibility and dedication toward their local community among your team members.

    Photobooth Setup

    Republic Day Celebration Ideas in Office
    Republic Day Celebration Ideas in Office – Selfie Photo Frame

    Create a Republic Day-themed photo booth for employees to capture special memories. Decorate it with props like flags and pinwheels to make it colorful and ready for photos.

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    How to Celebrate Republic Day for Offices Working from Home

    All of the above ideas sound great indeed for all the companies that are working from their physical offices, but working from home might often push companies to the back foot. However, you need not worry. Even if your office is working from home, you can still celebrate Republic Day with your employees because staying at home and working can sometimes sound really boring without some festivities, which instill a feeling of togetherness. Here, nothing can be as fitting an occasion as Republic Day.

    So, let’s quickly check out some amazing Republic Day celebration ideas for the offices that work virtually with the remote teams:

    Virtual Dress-Up

    Republic Day Celebration Ideas - Virtual Dress Up
    Republic Day Celebration Ideas – Virtual Dress-Up

    Get on your Zoom call for a get-together with your office colleagues, and dress up according to the theme, “Different Cultures of India.” Here, you can pick any attire and compete against your friends to see whether they can win the competition for Virtual Fancy Dress. Though dressing up and being awarded would not be as thrilling as the competition at the offices, dressing up virtually has its own set of perks. Besides, you can dress nonetheless, in your favourite clothes after a long time and that too from the comfort of your home.

    Shout Out to Patriotism

    While working from home for our office, decking the homes can also be a significant part of the festivities associated with the Republic Day occasion. For this, you need to ensure that the employees’ homes or their workplaces is neat and decorated well with the Indian flag hoisted. The best-decked home workplace can also be rewarded from the office!

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    Call It a Day Off!

    Republic Day is a national holiday, and hence, it is celebrated all around the country. Therefore, if you simply cannot make time for anything else you can do with your employees or colleagues on this particular date; you can simply mark it as an employee’s day off. However, it is essential that you mail them or communicate with them early so that they can make their own plans.

    Fruitful donations are not only pleasing but enriching for the people of our nation who are impoverished, and Republic Day can certainly be a great day indeed to help India be proud of its offices. Hosting a donation drive on behalf of the office sounds great where you can accept virtual donations and donate to the children and other impoverished people living around the office building or near your house.

    Republic Day Decoration Ideas for the Office

    Adopt the Swachh Bharat Campaign

    Swachh Bharat is a wonderful campaign indeed, launched by the government of India, and it is time that we take it seriously to better our surroundings and eventually make our nation clean for real. An initiative as grand as Swachh Bharat would require each one as a participant, and if we are yet to start on the same, we have Republic Day to begin with!

    Conclusion

    January 26th is the euphoric celebration of togetherness and our unity in diversity, with individuals all across the nation, regardless of religion, ethnicity, and philosophy. The entire country is illuminated in tri-tones to express the ‘Solidarity in Diversity’ message. Republic Day is one such occasion that we can observe with our friends and colleagues, either at the office or from our homes, creating another memorable moment that breathes solidarity after challenging times, thereby infusing a sense of unity among working professionals.

    FAQs

    How to celebrate Republic Day in office?

    Celebrate Republic Day in the office with flag hoisting, patriotic decorations, cultural performances, quizzes, and team activities. Serve traditional snacks to add to the festive spirit.

    Why is Republic Day celebrated in India?

    It was on the 26th of January 1950 that the Indian constitution came into effect when the country replaced the Government of India Act (1935) with the Indian constitution, and the country has celebrated this day ever since.

    How to celebrate Republic Day with a remote team?

    Some of the ideas for celebrating Republic Day with a remote team are:

    • Virtual Dress up
    • Shout out to Patriotism
    • Call it a Day Off!
    • Donate to the Impoverished
    • Adopt the Swachh Bharat Campaign

    What are some ideas for the Republic Day celebration in the office?

    Some of the ideas to celebrate Republic Day in offices are:

    • Decorating the Office and Cubicles
    • Competitions and Fun Games
    • Maintaining a Dress Code
    • Organizing Quiz Competitions
    • Foodies’ Delight
    • Singing Along

    How to celebrate Republic Day in the office?

    Celebrate Republic Day in the office with patriotic activities, tricolour decorations, and a virtual flag hoisting ceremony to instil national pride. Share inspiring messages and foster camaraderie among employees to commemorate the occasion with enthusiasm and unity.

  • The Dunzo App and Website are Down While Employees Leave

    The website and mobile app of Dunzo, a hyperlocal delivery startup, are unavailable due to continuous issues. The message “{“error”:”Something went wrong.”} appears on its website. The message “Something doesn’t seem right” appears on the mobile app. The app does not presently allow new users to sign in. The software has been unavailable to users in several parts of the nation for a few days. The app and the website are reportedly having some “migration issues,” according to a media report, even though Dunzo has not made any public statements on the matter.

    However, report further stated that the company might be going through a process called ‘App Migration’. The process of transferring software applications from one environment to another is known as app migration.

    More Bad News for Denzo

    All of Dunzo‘s staff have departed the startup, according to the media report. On January 9, a few workers also complained about their unpaid salary to the Bengaluru police station in Indira Nagar against cofounder Kabeer Biswas. According to the lawsuit, Dunzo has failed to pay the salaries of around 400 workers. According to various reports, Biswas is expected to speak with the investigating officer about the situation on January 14. Due to a lack of funds, Dunzo has repeatedly postponed staff salaries over the past 12 months. In addition to not paying salary for November 2024, it postponed paying salaries for June and July for several months.

    Due to financial difficulties, Dunzo let go of several employees in 2023 and 2024, and a small number of people left the firm to work for other companies. The most recent development occurs just days after Biswas left Dunzo. He was the sole cofounder still working for the startup. Biswas will join “Flipkart Minutes” to oversee the operations of the e-commerce giant’s rapid commerce division.

    Denzo Unable to Generate Investments

    According to reports, Dunzo has made purchase offers to Reliance Retail, Flipkart, PhonePe, and Swiggy. Additionally, Reliance Retail wrote off its $200 million investment in Dunzo, according to various media reports. When Dunzo was first established in 2014, it provided pick-and-drop services. In 2021, it switched to fast commerce, and in 2022, Reliance Retail provided $240 million in capital.

    In order to complete a settlement with Invoice Discounters, the company has asked the National Company Law Tribunal (NCLT) for more time. The underlying financial problems have not been addressed, even though this might provide a brief reprieve.

    Some media outlets claim that Dunzo’s attorney informed the tribunal that the parties are sincere in their pursuit of settlement negotiations and close to finishing the terms of the agreement. Please give them two weeks. In the meantime, the corporation has barely paid half of its debt, according to the creditor’s attorney, who is disputing these assertions. Investors exit, boardroom chaos, and significant leadership changes at Dunzo have further compounded the company’s problems. Concerns regarding the startup’s future have been raised by the departure of important board members, including those from significant backers LightBox and Reliance Retail. The leadership gap is made worse by the departure of co-founders Dalvir Suri and Mukund Jha.

    Groww Eyes IPO with a Valuation of $7-8 Billion
    Groww is reportedly in negotiations to apply for an IPO, targeting a valuation of $7-8 billion to strengthen its market position.
    StartupTalkyNitin Konde

  • With a Valuation of $7-8 Billion, Groww is in Negotiations to Apply for an IPO

    According to a media report, stockbroking company Groww has been in talks with several investment bankers about its initial public offering (IPO), hoping to earn about $700 million at a valuation of $7-8 billion. Groww has begun the IPO process by working with investment bankers. The timing hasn’t been determined yet, though. The report went on to say that it would depend on the situation of the market.

    Less than a year has passed since the company finished relocating its holding company’s headquarters from the US to India, becoming one of the leading fintech companies to return to their home countries in the face of advantageous economic policies and a growing domestic market. The Bengaluru-based business intends to list at a time when the nation’s stock brokers are struggling with a recent decision by market regulator Sebi to restrict trading in futures and options, citing speculation by small retail traders.

    Groww Showing Strong Performance in the Market

    Groww‘s valuation is contextualised by the fact that Angel One, a Mumbai-based and publicly traded stockbroking firm, is valued at less than $3 billion. In terms of active investors, Groww, one of India’s top full-stack financial services companies, outperformed rival Zerodha last year.Groww more than doubled its user base from the previous year, adding over 50 lakh users by November 2024. Over the past year, it has increased its advantage over Angel One and Zerodha, its nearest competitors.

    Groww presently leads Zerodha by over 50 lakhs. According to data from market exchanges as of December 2024, Groww has over 1.3 crore active investors on the site, whilst Zerodha has approximately 81 lakh active investors.There are over 78 lakh active investors in Angel One.

    Shifting from Mutual Funds to Stock Trading

    Groww began as a direct mutual fund platform before concentrating on stock trading and swiftly becoming the biggest broking app in the nation. Over 12 million traders are currently using Groww’s application. The business ended the previous fiscal year with INR 3,145 crore in total revenue and INR 805 crore in net losses.

    The firm sponsored by Peak-XV Partners claimed an operating profit of INR 535 crore, but the one-time tax payment from the flip back to India was the reason for its net loss. In addition to trading stocks, Groww manages assets and extends credit through a non-banking financing company. The company provides consumer credit and check-out finance services via Groww Creditserv Technology. The lender had INR 731 crore in assets under control by March 2024.

    This year, Groww is one of several Indian businesses aiming to go public. Various media outlets reported on January 13 that Ather Energy is seeking a public offering of $2.4 billion. The fintech company MobiKwik went public in December and is now valued at over INR 4,000 crore.

    Centre Unveils the Bharat Cleantech Manufacturing Platform
    The Centre unveils the Bharat Cleantech Manufacturing Platform, aiming to promote sustainable innovation and green manufacturing in India.
    StartupTalkyNitin Konde

  • “Bharat Cleantech Manufacturing Platform” Unveiled by the Centre

    The ‘Bharat Cleantech Manufacturing Platform’ was launched by Commerce Minister Piyush Goyal. In order to promote cleantech manufacturing in the nation across industries like solar, wind, hydrogen, and battery storage, the platform will attempt to bring together players from policy, industry, finance, and research. The project was created to strengthen India’s cleantech value chain, according to an official release. Goyal made the announcement of the new platform on January 11, during the Bharat Climate Forum 2025 event in New Delhi. The minister also encouraged the audience to “think innovatively and increase manufacturing scale” in the nation during his remarks. According to him, the platform’s launch will give Indian businesses a chance to work together and co-innovate. He went on to say that the new project will provide a way to exchange resources, ideas, and technology as well as to finance projects. According to him, this would make India a compelling commercial case and a world leader in cleantech and sustainability.

    The Sprawling Nexus of Cleantech Startups

    Goyal also stated during the launch that subsidies and production-linked incentives (PLIs) are harmful to the renewable energy industry’s long-term expansion. The trade minister stated that the cleantech industry should aim to become self-sustaining and “independent of the government,” adding that such measures were crucial to only help launch the sector. The remarks coincide with the emergence of numerous cleantech startup companies in India to tackle environmental issues and develop creative ways to strike a balance between the demands of sustainability and economic growth. Electric cars, rooftop solar energy harvesting, organic waste management, and even air and water purification are some of these services.

    Encouraged by the government’s initiative, PLI, and businesses’ increasing emphasis on environmentally responsible practices, the sector has also seen a substantial increase in investor interest. With $829 million raised from 75 agreements, the Indian cleantech ecosystem ranked as the sixth most funded industry in 2024.

    Investors Pouring Funds in Cleantech Startup Sector

    SolarSquare, a firm providing rooftop solar solutions, raised $40 million in its Series B fundraising round in December, with Lightspeed leading the deal. Last month, Zunroof also raised over $2.3 million in a round headed by ANBG Enterprise LLP, the Godrej family office. Kazam, a cleantech firm, raised $8 million in its Series A3 fundraising round in August of last year. Vertex Ventures Southeast Asia and India led the deal. India Accelerator launched a new vertical last year to support Indian cleantech firms, demonstrating the level of interest in the industry. All things considered, by 2040, the Indian cleantech market might be worth $41 billion.

    NCLT Approves Zepto’s Reverse Flip to India
    The NCLT has approved Zepto’s reverse flip into India, paving the way for the company’s transition back as an Indian entity.
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  • Brand of Bubble Tea Boba Bhai Launches New Korean Offerings with INR 30 Cr

    Based in Bengaluru, in a Series A fundraising round headed by 8i Ventures, Boba Bhai, a quick-service restaurant (QSR) brand that specialises in bubble tea and other culinary products, has raised INR 30 Cr, or roughly $3.4 million. Numerous current investors, including DEVC, Global Growth Capital, and Titan Capital Winners Fund, also participated in the round. The firm intends to use the extra revenue to scale operations, introduce new Korean products, create new sub-brands, and enter more recent cities like Pune and Ahmedabad. With the most recent round, the business has raised a total of INR 42.5 Cr ($4.9 Mn) so far. Boba Bhai was established in 2023 by Dhruv Kohli and offers K-Pop burgers with an Indian touch along with 45 types of bubble tea.

    Previous Funding Rounds and Further Expansion Plans

    Together with participation from other investors, such as V3 Ventures cofounder Arjun Vaidya, Marsshot VC (RazorPay founders’ fund), DEVC, Warm Up Ventures, Mamaearth cofounder Varun Alagh, and PeerCheque, Boba Bhai raised INR 12.5 Cr in April of last year. Bengaluru, Hyderabad, Mumbai, Delhi, Gurugram, Noida, Mangalore, Udaipur, and Chennai are among the nine locations where the brand is currently present. Its goal is to quadruple its footprint. By the end of this year, the business hopes to add more than 150 locations, according to Kohli. According to Kohli, the startup has made INR 8 Cr in its first six months of business.

    Currently Processing Over 85,000 Monthly Orders

    Speaking about the funding, Kohli stated that the brand’s remarkable success over the last nine months can be attributed to its dedication to quality, innovation, and customer pleasure. The business is in a strong position to grow, launch innovative new products, and position Boba Bhai as the preferred QSR brand for the upcoming generation of Indian customers thanks to the strategic support of its investors. Boba Bhai has 42 locations in nine cities and processes more than 85,000 orders every month, with an average order value (AoV) of about INR 400 per order. The firm has a 48% recurring customer rate and an average order value of around INR 400. According to the founder, he wants to own 75–80% of the bubble tea market in India.

    About 30% of the brand’s orders originate from its physical locations, with the remaining 70% coming via its website and online marketplaces like Zomato, Swiggy, and ONDC.  Additionally, the brand intends to launch sales via fast commerce platforms shortly. According to Kohli, the firm anticipates that rapid commerce would account for 25–30% of its sales once its platforms are launched.

    Vishwanath V, general partner at 8i Ventures, commented on the investment, stating that Boba Bhai is a popular brand among India’s Gen Z and the undisputed market leader in the bubble tea category. It was impressed by Kohli and his team’s speed and operational expertise, and they are a pleasure to work with.

    NCLT Approves Zepto’s Reverse Flip to India
    The NCLT has approved Zepto’s reverse flip into India, paving the way for the company’s transition back as an Indian entity.
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  • The NCLT Approves Zepto’s Reverse Flip into India

    The merger of Mumbai-based Kiranakart Technologies, the company behind the fast commerce platform Zepto, with its Singapore-based affiliate, Kiranakart Pte Ltd, has been accepted by the National Company Law Tribunal (NCLT). Zepto becomes an Indian firm after the NCLT order, and there is no resistance to the two companies’ cross-border merger. Zepto is operated by Kiranakart Technologies Private Limited, an Indian firm, and Kiranakart PTE LTD, a Singaporean holding company. According to the NCLT ruling, Zepto will not need a no-objection certificate (NOC) from the Reserve Bank of India (RBI). According to the tribunal, the RBI has not objected, and an express NOC is not required because the Scheme of Arrangement is covered by Regulation 9 of the Cross Border Merger Regulations, which stipulates that the RBI’s prior permission is presumed. According to the ruling, the scheme will also help the companies deal with better management, value consolidation, risk and policy management, competitive regulatory environments, and shareholder value creation.

    Zepto Aims to Streamline its Group’s Structure with this Move

    Zepto intends to simplify its group structure by lowering the number of legal entities in order to “optimise the legal entity structure” for improved business synergies, speedier decision-making, and substantial cost savings with the move of its holding company to Mumbai, India. This streamlined framework will help future fundraising efforts from Indian and international investors, according to the NCLT Mumbai bench. The judgement further stated that by switching to India, Zepto will be able to control risks, comply with local regulations, and directly align with the regulatory environment. By removing unnecessary administrative tasks and numerous record-keeping procedures, this action also seeks to streamline operations and drastically cut down on common management, administrative, and other costs. Zepto’s preparations for an IPO in India later this year are anticipated to be accelerated by this development.

    Within 30 days, Zepto is anticipated to formally finalise the transfer of its domicile to India. According to an earlier report by Inc42, Zepto, which is financed by Nexus, intends to reverse flip to India. According to people close to the business, Zepto wants to get into the reverse flipping queue with companies like Groww, Razorpay, Pine Labs, and Eruditus. However, many of these unicorns are being cautious and planning the most effective reverse flipping structure, much like PhonePe, whose tax liabilities went up to $900 million. The Mumbai bench of the NCLT noted in its January 9 ruling that the plan seems reasonable and fair and does not violate any legal provisions or public policy. Singaporean officials have also approved the merger.

    Zepto Aiming for an IPO

    In March or April of this year, the fast commerce platform hopes to submit its initial public offering (IPO) draft documents. Prior to going public, the company had already secured the required permits to move its headquarters from Singapore to India. Aadit Palicha and Kaivalya Vohra founded Zepto in 2021, and it presently uses a business-to-business (B2B) business model. Its parent company, Kiranakart Technologies, buys products straight from manufacturers and only distributes them to its licensee businesses, which include Commodum Groceries, Geddit Convenience, and Drogheria Sellers. Last year, Zepto made headlines when it raised an incredible $1.3 billion in capital and surpassed Blinkit and Swiggy Instamart in terms of revenue. At the moment, the rapid commerce unicorn is worth about $1.4 billion.

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  • Ather Energy Wants to Value its IPO at $2.4 billion

    According to reports, Ather Energy, an electric car startup, is aiming for a $2.4 billion value for its impending initial public offering (IPO) this year. The new valuation is more than 80% higher than its previous round of fundraising, according to a media story that cited sources. The firm will submit its final clarifications to the Securities and Exchange Board of India (SEBI), the market watchdog, and submit its revised draft red herring prospectus (DRHP) by the end of January or the first few weeks of the subsequent month, according to the article.

    How Company Plans to Utilise Funds?

    Ather intended to use INR 750 Cr, or 25% of the fresh issue part of the INR 3,100 Cr IPO, for research and development (R&D) in accordance with its original DRHP, which was submitted in September. Additionally, INR 927 Cr will be set aside for the establishment of a new facility in Maharashtra. According to reports, the unicorn in e-mobility was aiming for an IPO price of about $2.5 billion. It should be noted that this development occurs weeks after SEBI approved Ather’s plans to go public. According to the SEBI website, the markets regulator sent Ather the observation letter on December 23.

    Recent Developments at Ather

    Ather Energy, which was founded in 2013 by Tarun Mehta and Swapnil Jain, produces battery packs and electric two-wheelers in addition to having its own charging station. The company recently introduced the Rizta family escooter series and ventured into the smart helmet industry after expanding its market with its 450 line of ebikes. After raising INR 600 Cr from its current investor NIIF in August 2024 at a post-money valuation of $1.3 billion, the EV powerhouse became a unicorn. However, the slowdown in the number of EVs sold in the broader market impacted Ather Energy, which experienced a 19% drop in vehicle registrations to 10,429 last month from 12,909 in November.

    Good News for Nikhil Kamath!

    Nikhil Kamath, a well-known podcaster and cofounder of Zerodha, will also benefit from one of the fastest value increases due to IPO valuation, as his 5% ownership will increase to over $100 million in around six months.

    By purchasing Flipkart cofounder Sachin Bansal’s share last year, Kamath made his debut on the Ather cap table. At a value below the unicorn round, Kamath is thought to have paid about $40 million for the Ather stake.

    With investments in a number of early-, late-, and IPO-bound firms, Kamath has become a prominent player in India’s digital economy. Among the companies in his portfolio are Bluestone and Subko Coffee.

    Hero MotoCorp, the biggest shareholder in Ather with roughly a 37% interest, will be listed as a co-promoter and will not be selling any shares during the offer-for-sale (OFS) window. Another Flipkart cofounder, Binny Bansal, is selling off a portion of his investment in the EV manufacturer as part of the IPO. Other stockholders include GIC and Tiger Global.

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  • Asish Mohapatra and OfBusiness: The Journey to Building Profitable Unicorns

    Asish’s life story is true of perseverance, innovation, and determination. Asish has managed to defy the odds in building a successful company that flourished as a category leader and is now a symbol of resilience. Asish’s journey with OfBusiness was one of building from scratch. Moreover, he faced many challenges, but his unwavering belief in his vision made him a pioneer in his field.

    This StartupTalky feature will give you a look into Asish’s biography, his challenges, and how he founded OfBusiness. His passion compelled him to make difficult decisions that helped create his company’s future.

    Throughout this story, we will explore Asish’s entrepreneurial journey, battles, the pivotal decisions that made all the difference, and how he made his dreams come true. Though Asish’s path wasn’t easy, his ability to focus, adapt, and innovate took him to incredible success.

    We invite you to learn the inspiring story of Asish, the entrepreneur who made his vision a thriving business, proving that persistence and determination can get you anywhere. In this StartupTalky article, we will explore Asish Mohapatra’s success story, including his early life, history, net worth, childhood, personal life, education, investments, and more.

    Asish Mohapatra – Biography

    Name Asish Mohapatra
    Date of Birth 1980
    Birthplace Cuttack, Orissa
    Education SCB Medical Public School
    Ravenshaw College
    B.Tech in Mechanical Engineering, IIT Kharagpur
    MBA, Indian School of Business, Hyderabad
    Profession Co-Founder and Head of Sales of OfBusiness
    Website Ofbusiness.com

    Asish Mohapatra – Education
    Asish Mohapatra – Career
    Asish Mohapatra – Personal Life
    Asish Mohapatra – OfBusiness
    Asish Mohapatra – Investments
    Asish Mohapatra – Interesting Facts

    Asish Mohapatra – Education

    Asish Mohapatra’s educational background bears testimony to his determination and love for knowledge and is a strong foundation for his entrepreneurial success. Asish was born and raised in Odisha and pursued his early education with a keen interest in academic excellence, eventually leading him to some of the most prestigious institutions in India.

    One of Odisha’s most renowned institutions, Ravenshaw University, was where Asish started his higher secondary education. He did his 10+2 here, with a strong focus on science, but particularly excelled in Physics since his mother was a Physics professor. His time at Ravenshaw was spent honing his analytical skills, which would play a part in his future academic success.

    One of the top engineering institutions in India, the Indian Institute of Technology, Kharagpur, accepted Asish. He did a B.Tech in Mechanical Engineering from IIT Kharagpur, which indicates his ability to solve problems and innovate. As a result of this rigorous program, he gained a technical foundation that he would later use to build OfBusiness, a technology-driven B2B industrial goods platform.

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    Asish Mohapatra – Career

    Asish moved to Hyderabad to gain valuable work experience and then went on to do an MBA in Finance and Marketing from the Indian School of Business (ISB). ISB was known to have globally recognized programs, and his business acumen, strategic thinking, and leadership skills were further polished. Asish spent time at ISB and learned much about financial management, marketing strategy, and entrepreneurial frameworks, which helped him become a founder and a CEO. After graduating, he joined McKinsey & Company as an Engagement Manager, one of the world’s foremost consulting firms.

    After four years in consulting, four of those were spent at McKinsey refining his consulting skills, predominantly working in healthcare. He consulted with multinational corporations as well as Indian companies on pharmaceuticals, medical equipment, and pharmaceutical support services. This not only expanded his view of business operations but also provided him with the chance to work with leaders and strategists across the globe. During this time, he met his future wife and future business partner, Ruchi Kalra.

    In 2010, Ashish moved to the venture capital side of the business as a Senior Associate at Matrix Partners. As a board member for multiple healthcare and portfolio companies, he gained invaluable experience here. While he was there, he also worked very closely with startups and entrepreneurs, helping them evaluate their business models, guide their strategy, and understand the intricacies of venture funding. Years spent at Matrix helped him understand the challenges a startup faces, and it shaped his entrepreneurial mindset.

    Ashish Mohapatra left Matrix in 2015 with a bold vision: to build a one-stop platform for small and medium enterprises (SMEs) in India. He co-founded OFB Tech Pvt Ltd, better known as OfBusiness, with his wife, Ruchi Kalra, in Gurugram. The company set out to disrupt the B2B commerce and fintech space by offering SMEs industrial goods and tech-enabled financing solutions.

    At first, OfBusiness procured raw materials like metals and cement for manufacturing and infrastructure industries. Despite achieving early success, Ashish identified a critical gap in the business: the absence of credit facilities for customers. Realizing that over 95% of transactions were on credit, he changed the company’s model to include in-house financing.

    Building a credit-focused startup without prior experience in the field is a herculean task. However, 73 venture capitalists rejected Ashish, and many thought his vision was unviable. He and Ruchi didn’t let it phase them. They spent a year studying balance sheets, meeting SMEs, and understanding their pain points. When Zodius Capital led the first funding round for OfBusiness in 2016, this rigorous groundwork paid off.

    The game changer was the introduction of tech-enabled, low-interest, collateral-free loans. The business slashed loan disbursement times from 90 days to 72 hours, making it much more appealing to SMEs. The company disbursed INR 100 crore in loans and had earned INR 500 crore in revenue by 2018.

    By 2021, OfBusiness had become a full platform for industrial goods, specialty chemicals, agricultural products, and digital services like BidAssist and ProcureAssist. The company’s lending vertical had INR 1,500 crore loan books, and the company had served over 7 lakh SMEs.

    OfBusiness raised INR 1,300 crore in funding from Tiger Global in August 2021, which raised its valuation to INR 10,000 crore and made it a unicorn. It became one of India’s fastest-growing startups, reporting INR 603 crore profit in FY24 and over INR 19,000 crore revenue.

    OfBusiness Financials
    OfBusiness Financials

    Apart from OfBusiness, Ashish and Ruchi co-founded Oxyzo Financial Services in 2016. In addition to becoming the first Indian couple to each lead a unicorn company, the fintech firm focusing on SME financing also became a unicorn itself. This also strengthened Oxyzo’s reputation as a visionary entrepreneur who could make money.

    Asish Mohapatra – Personal Life

    Asish Mohapatra was born in Cuttack, Orissa, in 1980 and was brought up in a family with strong academic values and a zeal for excellence. His mother, Mishra Kuku, was no slouch either, being an IIT graduate and a college Physics teacher. This environment’s intellectual curiosity and discipline had a great deal to do with Asish’s early years. Growing up with his sister, Snigdha Mohapatra, he lived with a close-knit family that valued education, integrity, and resilience.

    Asish did his ICSE (10th) from SCB Medical Public School, Cuttack. His higher secondary education (10+2) was done at Ravenshaw College. Asish became known for his determination and focus and later got into the prestigious Indian Institute of Technology (IIT), Kharagpur, where he completed a B.Tech in Mechanical Engineering. Headed to the Indian School of Business (ISB) Hyderabad for an MBA, he further complemented his strong academic foundation and technical acumen with his entrepreneurial success.

    While working at McKinsey & Company, Asish met his future wife, Ruchi Kalra. Like Asish, Ruchi is a highly accomplished person, and their shared ambition and complementary skills drew them closer. Eventually, they married and became a formidable team, personally and professionally. Asish and Ruchi made history as the first Indian couple to successfully raise their startups to unicorn status independently—Asish with OfBusiness and Ruchi with Oxyzo.

    The couple is blessed with a daughter, Khushi Mohapatra, who brings joy. Asish loves to spend time with his family and is a doting father. Balance, support, and dedication have been crucial to his professional and personal success.

    Asish’s hobbies and interests also make his personal life more prosperous. He loves creative writing, keeping collections, and indulging in sporting activities. Fluent in Bengali, Hindi, English, and Oriya, he has a deep interest in language and communication, which is often expressed in his writing of blogs. He is disciplined and committed to managing both his personal and professional responsibilities.

    Mohapatra’s family epitomizes synergy between personal support and professional achievement. Asish often credits his family as his pillar of strength, and they helped him navigate the challenges of entrepreneurship. Asish’s personal life reflects his belief in resilience, hard work, and the importance of a supportive family environment, having a strong bond with a shared vision for the future.

    Asish Mohapatra – OfBusiness

    Ashish Mohapatra’s journey involves perseverance, adaptability, and innovation. His leadership has set the B2B commerce stage on fire in India, and his focus on profitability and sustainability has inspired thousands of entrepreneurs. Despite all the success, Ashish is grounded and builds an equal, fraternal, and shared-purpose culture in the workplace. His story is a success story of how setbacks can be the stepping stones to success.

    At a time when lofty valuations tend to overshadow fundamentals of sustainable growth and profitability in Indian startups, Asish Mohapatra has found his space. Mohapatra, co-founder and CEO of OfBusiness and co-founder of Oxyzo Financial Services, is a rare breed of entrepreneur who values profitability and long-term value creation over vanity metrics. The power couple has built two profitable unicorns in a market that is largely loss-making, alongside his wife and business partner Ruchi Kalra.

    OfBusiness (OFB Tech) was founded in August 2015 to simplify procurement and financing for small and medium enterprises (SMEs) in India. It is a tech-driven B2B platform that integrates raw material procurement, credit, and financial services seamlessly. Mohapatra’s journey with OfBusiness has been defined by his intimate grounding in the SME ecosystem and his relentlessness in building a profitable enterprise.

    Mohapatra had a stellar academic and professional background before he ventured into entrepreneurship. He was an IIT Kharagpur mechanical engineer and then earned an MBA from the Indian School of Business (ISB). He spent over four years at Matrix Partners, where he gained valuable knowledge of venture capital and the startup ecosystem.

    Bold was the leap from the cushy world of VC to the gritty realities of running a startup. With support from SoftBank, Mohapatra navigated OfBusiness through the nuances of scaling a B2B platform.

    2016, Mohapatra and Kalra founded Oxyzo Financial Services to work alongside OfBusiness. Oxyzo, a specialized fintech venture, offers working capital financing specifically for SMEs to enable them to have the liquidity required to grow and survive. Oxyzo’s CEO, Kalra, was instrumental in scaling the company. Her engineering background (IIT Delhi) and management (ISB), plus nine years at McKinsey, gave her a solid base to fuel Oxyzo’s rapid growth.

    They went on to make Oxyzo one of the rare fintech startups in India that became profitable in their infancy. Its success owes much to its innovative approach to credit underwriting based on OfBusiness’s deep operational insights.

    Mohapatra’s philosophy revolves around a simple but powerful mantra: sustainable growth. At OfBusiness’ Gurugram office, Mohapatra shared his belief in building ventures that focus on profitability and differentiation while being motivational. An entrepreneur’s journey, he said, is through stages of happiness and delight and, eventually, the ‘aha’ moment when your business becomes perpetually growing, you make the profits. It’s no longer easy for competitors to replicate your model.

    This is unlike many startups that burn cash to double their growth; OfBusiness and Oxyzo are more focused on delivering tangible value to their customers. They have earned their admiration and are outliers in India’s unicorn landscape.

    Oxyzo and OfBusiness have transformed India’s B2B and fintech sectors. Oxyzo provides hassle-free credit for SMEs, while OfBusiness simplifies procurement for SMEs through tech-driven solutions. They are bridging critical gaps in the SME ecosystem, helping businesses scale efficiently.

    Mohapatra imagines a world where startups are applauded not just for their valuations but also for their ability to generate lasting value. His journey is a testament to disciplined execution, customer-centric innovation, and a commitment to profitability, all lessons that can be applied in any industry.

    Asish Mohapatra’s leadership as CEO of OfBusiness and Oxyzo Financial Services is a case study in the art of marrying vision and execution. In the age of cash-hungry startups, Mohapatra and Kalra have changed the meaning of a unicorn. Their story gives the next generation of entrepreneurs a new focus on fundamentals: profitability and growth need not be mutually exclusive but essential ingredients to long-term success.

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    Asish Mohapatra – Investments

    Apart from being a successful entrepreneur, Asish Mohapatra has been an active investor in the startup ecosystem. His investments reflect his belief in helping foster innovation and supporting the growth of promising startups across all industries. Here’s a list of some notable investments made by Asish Mohapatra:

    Announced Dates Organisation Names
    July 2023 Freakins
    April 2023 Kikibix
    August 2022 TyrePlex
    August 2022 ApniBus
    August 2022 Liquide
    December 2021 TranZact
    September 2021 ConnectedH
    September 2021 GoKwik
    September 2021 Dezerv
    August 2021 OTO Capital

    Asish Mohapatra’s investments result from his thorough understanding of sectors that he has been involved in in his entrepreneurial journey, including SMEs, fintech, and technology-driven solutions. His background in scaling businesses and ability to find ventures with high growth potential makes his choices.

    Asish Mohapatra – Interesting Facts

    • Dual Unicorn Founder: Ruchi Kalra and Asish Mohapatra, with her as co-founder and him as co-founder, have co-founded two unicorn startups—OfBusiness and Oxyzo.
    • Early Career Leader: He graduated from IIT Kharagpur and joined ITC Ltd. at a young age. He then managed a team of over 1,000 people.
    • Rejection Didn’t Stop Him: When pitching for funding, Asish’s OfBusiness funding pitches were rejected 73 times in 2016 before he struck gold. His perseverance set him on the road to his eventual billion-dollar empire.
    • First Couple of Unicorns: Asish and Ruchi Kalra, India’s first couple to individually lead startups to unicorn status, are celebrated.
    • Healthcare Expertise: Asish worked extensively at McKinsey & Company, working extensively on healthcare and with multinational corporations and Indian companies in the pharmaceuticals and medical equipment space.
    • Educational Brilliance: Asish is among the most qualified people you can meet, with a B.Tech in Mechanical Engineering from IIT Kharagpur and an MBA from the Indian School of Business, Hyderabad.
    • Creative Multitasker: In addition to entrepreneurship, Asish has a knack for creative writing and speaks Bengali, Hindi, English, and Oriya.
    • Success Mantra: His guiding philosophy is “When the going gets tough, the tough get going!” This quote describes the journey from failure to success.
    • SoftBank Support: In 2021, his startup, OfBusiness, became a unicorn after raising $160 million, led by SoftBank, bringing its valuation to roughly $1.5 billion.
    • Global Vision: Asish’s startups are not just financial success but are pioneering in providing secured and unsecured credit to SMEs for growth across sectors.
    • Licensed Director: In 2020, the Indian Institute of Corporate Affairs certified Asish as an independent director, which signifies his ability to lead in various roles.
    • Family Inspiration: Asish’s academic and professional journey started with an IIT graduate and college physics teacher’s mother, who inspired him with discipline and excellence.
    • Sports Enthusiast: He likes sporting records and admires Chinese badminton player Lin Dan.
    • Team Spirit: In 2015, Asish’s journey with OfBusiness started with a close-knit team, many of whom stayed with him through thick and thin. In 2016, he launched Oxyzo as a spin-off.
    • Unicorn in Record Time: OfBusiness became a unicorn in 2021, and Oxyzo right behind it in 2022, becoming a unicorn itself.

    FAQs

    Who is Asish Mohapatra?

    Ashish Mohapatra is the co-founder and CEO of OfBusiness, a B2B commerce platform that provides raw material procurement, financing solutions, and technology tools for SMEs. He is also the co-founder of Oxyzo Financial Services.

    Who is Asish Mohaptra wife?

    Ashish Mohapatra’s wife is Ruchi Kalra. She is the co-founder and CEO of Oxyzo Financial Services, a fintech company that provides working capital financing to SMEs. Ruchi is also a co-founder of OfBusiness, along with Ashish. The couple is well-known for their entrepreneurial success and building unicorn companies together.

    What is Asish Mohapatra education?

    Ashish Mohapatra completed his undergraduate degree in Mechanical Engineering from IIT Kharagpur and then pursued an MBA from the Indian School of Business (ISB), Hyderabad. His strong educational foundation helped him develop the skills necessary to co-found successful ventures like OfBusiness.