Google Maps has announced that, from March 1, 2025, Indian developers will get “free” access to its suite of tools for up to $6,800 (more than INR 5.7 lakh) each month, in response to increasing competition from regional geotech companies. Tina Weyand, Google Maps’ senior director of product management, stated in a blog post that local developers will get “free” access to the company’s products, including software development kits (SDKs) and environment application programming interfaces (APIs), up to the specified monthly cap.
Google Maps’ existing fixed $200 monthly credit will be replaced by a newly announced pay structure. Developers will be able to create more for free after March 1, 2025, when they will have one month’s worth of free access to all of Google’s products, including the Maps, Routes, Places, and Environment APIs and SDKs. According to Weyand, this implies that developers in India would soon have access to up to $6,800 in free usage per month, spread across all products, in place of the company’s current fixed $200 monthly credit.
Unlimited Free Usage For Maps Embed API and Maps SDK
Maps Embed API and Maps SDK will continue to offer “unlimited free usage,” according to tech giant Google. Additionally, the updated pricing plans will allow developers to develop more effective solutions and experiment with the APIs and SDKs. It is anticipated that this approach will help Google better compete with regional firms like MapmyIndia and Ola’s Krutrim, particularly in terms of pricing, and will attract smaller developers. This comes after Google reduced the cost of its Maps platform in July of this year and introduced new pricing for Indian developers that is specifically altered for India. A partnership with Open Network for Digital Commerce (ONDC) was then revealed by the giant tech company, which will provide developers creating apps on the state-backed network with up to 90% off on specific Google Maps APIs.
Google Forming New Strategies to Remain Ahead in the Race
Google’s cost-cutting action followed Bhavish Aggarwal, the founder and CEO of Ola Consumer, urging Indian developers to abandon Google Maps. Aggarwal announced at the time that all developers on the Krutrim platform would have free access to Ola Maps for a year and that developers would receive more than INR 100 Cr in free credits. In the meantime, MapmyIndia has also been putting up a strong fight against Google Maps.
Google Maps launched a number of India-specific features earlier this year, such as flyovers, narrow road callouts, and Address Descriptors, which allow users to accurately pinpoint a location inside intricate city road networks. Google has launched Gemini AI in Docs, which is a related development. Compared to competing AI models, it can more clearly generate photo-realistic images of people, landscapes, and animals with only text cues. Gemini AI may be effectively used by users to upload full-bleed photos that fill a document’s page. Additionally, it can be used to produce inline visuals for promotional flyers, marketing campaign briefs, and digital restaurant menus.
In a significant indication that the Elon Musk-led electric vehicle maker has begun reconsidering its entry into the Indian market after postponing its investment plans in the nation earlier this year, Tesla has resumed its search for showroom space in New Delhi. At first, Tesla was searching New Delhi for a location for its showrooms. But when the carmaker decided to put the investment plan on indefinite hold, the hunt was put on hold. But now that the brand has resumed its hunt, it might be a significant step for the business to relaunch its India strategy. According to a news agency, Tesla is now in preliminary negotiations with real estate development firm DLF to reserve space in the area around the nation’s capital. In addition, the massive electric car manufacturer is negotiating with other parties.
According to reports, Tesla is searching for 3,000 to 5,000 square feet to build a consumer experience centre and a three-fold larger area for its service and delivery operations. The article further stated that the auto manufacturer is assessing a number of sites, such as the Cyber Hub office and retail complex in neighbouring Gurugram city and DLF’s Avenue Mall in southern Delhi. Additionally, it stated that Tesla is seeking to lease an 8,000-square-foot showcase area at the Avenue Mall. However, nothing has been finalised as of yet, and Tesla is still in the exploratory stage of its quest for showroom space.
Tesla’s Strategy for India: Initial Developments
When Elon Musk, the CEO of Tesla, announced in April that he would visit India to meet with Prime Minister Narendra Modi, the news of Tesla’s foray into the Indian auto sector became widely publicised. It was rumoured that he may announce a $2–3 billion investment in India, which would entail establishing a local facility for the production and assembly of Tesla electric vehicles. This facility would serve as a hub for EV manufacturing worldwide in addition to serving the Indian market. But after Tesla chose to fire 10% of its global workers due to declining sales, Musk abruptly cancelled his trip. Although Tesla began hiring in India in 2021 when it registered as Tesla India Motors in Karnataka, the automaker’s admittance into the country has remained an issue of contention for the past two years.
Tesla’s Demand from the Indian Government
In order to begin formal business operations in India, Tesla requested a reduction in import taxes for its electric vehicles. The Indian government, however, has refused to grant Tesla any special treatment, arguing that doing so would be unjust. Rather, the Indian government has consistently insisted that the EV manufacturer establish a domestic production plant there. Subsequently, the Indian government implemented a policy that permitted Tesla to import specific electric vehicles at a reduced tariff of 15% in exchange for the establishment of a domestic manufacturing and assembly facility in the nation. Following Tesla’s failure to meet its previous investment plans, the Indian government loosened some of its regulations in an attempt to draw in automakers. At first, Hyundai and Toyota showed interest in the move. But in the Indian market, Tesla’s “to go or not to go” strategy continued to be a hot topic of conversation.
Rekha Jhunjhunwala is the second richest woman in the country in terms of wealth. When it comes to her fortune, the estimated net value is above INR 72,000 crore, and her very strategically picked shares, account for close to INR 30,000 crore in stock portfolio valuation. Her taste, no wonder, runs after luxury on the basis of this realty investment.
She claims to enjoy an unhindered panoramic view of the Arabian Sea sitting in her residence. Her ability to make strategic acquisitions and maintain her high-profile stocks has helped highlight her exceptional financial acumen. So let’s dive into her life, investments, and actual wealth.
Rekha Jhunjhunwala – Early Life, Education and Family
Rekha Jhunjhunwala – Early Life, Education and Family
Rekha was born in September 1963 and earned her Bachelor of Commerce from the University of Mumbai. She married Rakesh Jhunjhunwala in 1987 who started their financial journey with the setting up of self as a significant stock investor. He is often regarded as the Indian Warren Buffet for his investment savvy, and Rekha has stood by him through thick and thin. But, despite holding a rich level of property, they always keep themselves low profile. Rekha and Rakesh have three children, twin boys, Aryaman and Aryaveer, and a daughter Nishtha.
Rekha’s real estate portfolio investments reflect her taste and status. Her main residence, RARE Villa, is a 14-storey mansion located on Malabar Hills. This residential property was known as Ridgeway Apartments and had been purchased in two phases from 2013-2017 for a sum of INR 370 crores. Spread over 70,000 sq. ft, it is in one of the prime locales of Mumbai. But when the nearby Rockside CHS went up for redevelopment, it posed a threat to her precious sea view. To ensure that her panoramic view stayed the same she bought nine flats for INR 118 crore.
Other than the nine Rockside CHS apartments in 2023 Rekha also bought five commercial properties in the Bandra Kurla Complex and Chandivali in Andheri East for INR 739 crore. These properties collectively cover 1.94 lakh sq. ft. and are a significant part of her investment plan.
Rekha Jhunjhunwala’s stock list is a testament to her financial prowess and currently stands at a value of INR 37,831 crore. Her investments provide substantial returns with a dividend income of INR 224 crore for a quarter. The list of the prominent stocks she owns are:
In Nov 2024, two of Rekha’s portfolio stocks earned over INR 105 crore in the first 10 minutes only. Those from the portfolio stocks are Titan Company and Metro Brands. Titan’s share price surged to INR 20.90 per share whereas Metro Brands’ share price gained INR 3.90 per share in the stock market.
Titan’s share price opened with an upside gap of INR 3310 per share on the NSE today and touched a high of INR 3360 per share. But it touched INR 3330 per share in the first ten minutes of the stock market opening and recorded an INR 20.90 per share.
Similarly, Metro Brands’ share price opened at INR 1177.10 per share in the NSE and touched INR 1180.95 apiece in the first ten minutes with a record of INR 3.90 per share.
Rekha currently holds 4,57,13,470 shares in Titan, and with a rise in the first ten minutes, her stocks got her a jump of INR 95.54 crore in one single jump. Again, Rekha holds 2,61,02,394 shares for Metro Brands’ and her net worth rose by INR 10.18 crore.
Rekha Jhunjhunwala – Facts
Rekha Jhunjhunwala made her latest buy in Tata Motors Ltd., increasing her stake by 0.02%.
Sold shares in Aptech Ltd., lowering stake by -2.31%.
Rekha Jhunjhunwala-backed Inventurus Knowledge Solutions announced its IPO launch on December 12, 2024, aiming to raise INR 2,497.92 crore by offloading 1.88 crore shares held by promoters and other shareholders.
The most valuable listed holding in the portfolio is watch and jewelry maker Titan, part of the Tata conglomerate.
Has been associated with 4 companies as of 2022. These include Jalaram Baba Children’s Nest Education Private Limited, Minosha Digital Solutions Private Limited, Ohm Educom Foundation Private Limited, and Rare Family Foundation.
The stock brokerage firm by her husband, Late Rakesh Jhunjhunwala, RaRe Enterprises, formed in 1992, is a combination of both their names – Ra from Rakesh and Re from Rekha.
Late Jhunjhunwala’s early bets on Star Health Allied Insurance and Metro Brands paid off when both companies were listed in 2021.
Her husband was one of the investors in a new low-budget airline that began flying in August 2022, just before he passed away.
FAQ
Who are the children of Rekha Jhunjhunwala?
Rekha Jhunjhunwala’s children are Nishtha, Aryaman, and Aryavir Jhunjhunwala.
What is the education of Rekha Jhunjhunwala?
Rekha Jhunjhunwala holds a degree in Commerce from the University of Mumbai.
How much is Rekha Jhunjhunwala worth?
As of 2024, Rekha Jhunjhunwala’s net worth is estimated to be around $8.8 billion.
Flipkart Fashion has always been more than just an online destination for style enthusiasts. It’s a brand that understands its audience—fashion-savvy Millennials and Gen Z—and consistently finds innovative ways to engage with them.
When it comes to blending innovation and relatability, Flipkart Fashion knows how to make a statement. Their latest move turned a high-energy concert into an unexpected stage for their End of Season Sale (EOSS), proving that smart marketing doesn’t always need a spotlight—it just needs the right context.
Here’s what happened:
At a packed concert filled with excitement, attendees weren’t just vibing to the music—they were noticing something clever happening right around them. Flipkart Fashion became the talk of the event through witty placards carried by concert-goers.
These placards, featuring lines like “It’s okay concert tickets pe paise udaye par fashion pe bacha liye,” didn’t feel like ads. They felt like a part of the moment, a tongue-in-cheek nod to the realities of balancing life expenses with a love for fashion. The crowd couldn’t help but laugh and relate, and soon the messages were everywhere—shared on Instagram Stories, meme pages, and even LinkedIn.
Flipkart Fashion Creative Marketing at the Concert
What Made This Campaign Click?
It wasn’t just the humor. Flipkart Fashion’s genius lies in blending relatability, timing, and cultural awareness.
Being where it matters: They showed up where their audience naturally hangs out—at live events, where energy is high, and moments are memorable.
A touch of realness: The placards spoke directly to the struggles and joys of adulting, like juggling concert tickets and wardrobe upgrades, striking a chord with Millennials and Gen Z alike.
Effortless virality: The campaign didn’t scream for attention—it created content that people wanted to share, effortlessly amplifying its reach.
Why This Works as a Case Study in Modern Marketing:
Flipkart Fashion’s approach wasn’t about pushing sales; it was about connecting in an authentic, understated way.
Cultural relevance: By aligning their campaign with a live concert, they became part of the shared experience, making their presence feel natural and unforced.
Understanding the audience: The messaging resonated because it was crafted around the lives of their target audience, making the campaign as relatable as it was entertaining.
Content that travels: A simple, clever idea turned into something far bigger, proving that smart, minimalist marketing can create a lasting impact.
Flipkart Fashion’s EOSS campaign didn’t just advertise their sale—it made their brand a part of a cultural moment. And in today’s landscape, that’s what stands out.
On December 11, 2024, One Mobikwik Systems Limited is scheduled to make its much-anticipated initial public offering (IPO) to the Indian primary market. According to sources, shares of fintech giant MobiKwik are trading almost 40% higher on the grey market from the upper end of the price range of INR 265 to INR 279 ahead of the start of the company’s initial public offering (IPO). On December 8, MobiKwik shares were trading at INR 391 per, according to Investor Gain. On December 11 and 13, the company’s first public offering (IPO) will open and close. Brokers’ optimistic assessments of the IPO may have contributed to the price spike in the grey market. With a long-term outlook, Bajaj Broking advised investors to subscribe to MobiKwik’s IPO. According to the brokerage’s IPO note, MobiKwik intends to expand its operations into other markets, which could increase its earnings in the upcoming years.
Reducing IPO Size
Additionally, Kotak Securities has praised the company’s decision to reduce the size of the IPO, stating that it is an appealing investment opportunity. The smaller IPO size and targeted funding allocation show strategic intent. According to Kotak, if handled carefully, the IPO could position MobiKwik as a pioneer in defining the direction of digital finance. In an attempt to raise INR 572 Cr, MobiKwik submitted their red herring prospectus last week. It had previously been approved by market watchdog SEBI to raise INR 700 Cr through its initial public offering. Only a new issue of shares is included in the public offering. Additionally, the business reduced its 2021 valuation of roughly $1.5 billion to $1.7 billion to about $255 million for its IPO.
Current Financial Situation of MobiKwik
According to Bipin Preet Singh, the founder and CEO of MobiKwik, it is disheartening for investors when an initial public offering (IPO) with a high value underperforms after listing. People think they are horrible companies that spend a lot of money, but someone needs to change that. “We don’t mind if it means receiving a lower valuation,” he stated. MobiKwik, on the other hand, turned a profit in FY24 but went into the red in the first quarter of 2024–25 (Q1 FY25). Compared to a net profit of INR 3 Cr in the same quarter last year, it reported a net loss of INR 6.6 Cr in Q1 FY25. During the reviewed quarter, operating revenue was INR 342.2 Cr. Compared to the previous fiscal year’s net loss of INR 83.19 Cr, MobiKwik reported a net profit of INR 14.1 Cr in FY24. Operating revenue increased from INR 539.5 Cr in FY23 to INR 875 Cr, a 62% increase.
Indian police are now keeping an eye on Elon Musk’s Starlink after drug smugglers allegedly used one of its internet service devices to transport $4.25 billion worth of cocaine from Myanmar into Indian waters. According to reports cited by a media house, police officers in the Andaman and Nicobar Islands have served Starlink with a legal notice requesting the identity of the buyer of the gadget that enabled the peddlers to smuggle illegal goods into the nation by water. The payment method used to buy the Starlink Mini device connected to the drug smuggling case, registration information, and usage history are among the other elements the police are looking for.
Police Found Satellite Internet Device
Six Myanmar nationals were arrested by the local police in November for carrying more than 6,000 kg of meth on a boat. On the same boat, the police officers discovered the satellite internet gadget. The case’s senior police officer went on to say that the incident sparked “alarm bells” because it was the first time that drugs were smuggled into Indian waters using a Starlink device to cross the deep sea. This development coincides with Starlink’s application for a government licence to provide its satcom services in the nation. It is already involved in a dispute with two of the biggest telecom companies, Bharti Airtel and Reliance Jio, regarding the distribution of satcom spectrum.
Tug of War Between Companies Over Allocation of Spectrum
Airtel and Jio have requested an auction of the satcom spectrum, while Starlink and Amazon Kuiper have demanded that the spectrum be distributed administratively. It is important to remember that Starlink has not yet received the Centre’s security authorisation to begin offering satellite broadband services in India. The government wants the business to guarantee that data processing and storage would take place locally.
This comes after Jyotiraditya Scindia, the minister of communications, stated last month that satellite service spectrum will be distributed administratively but at a “cost” that would be determined by TRAI following thorough discussions with relevant parties. Chandra Sekhar Pemmasani, the Minister of State (MoS) for communications, stated earlier this month that satcom should be viewed as an adjunct to terrestrial networks like 5G and 6G in order to close the digital gap and improve last-mile connectivity in India.
Earlier this month, the director of Starlink Satellite Communications, Parnil Urdhwareshe, stated during the open house that Indian consumers desire satellite broadband services and that these “intelligent consumers” are entitled to select an operator that will offer them a high-quality, reasonably priced service. He noted that Starlink’s website easily provides costs for any country and that the company takes pride in making satellite broadband accessible to those who have not yet had it.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations.
Isn’t it a bit exciting when you own a credit card? It is one of the most powerful tools a man can have. However, the right way of using a credit card is imperative as you have to pay for its bill later.
Several credit card issuers include VISA, MasterCard, and so on. However, digitization has bought a lot of changes in how we use how credit cards and the benefits that come with them. These advantages include a hassle-free shopping experience, easy cash withdrawal, no need to carry cash, and hundreds of rewards and offers like cashback, and coupons. You can see most working people use credit cards that have become an indispensable part of their lives.
With the ever-changing technology, this company is the first to launch a credit card for the mobile generation, we are talking about the newest startup company called OneCard.
Read through the article to learn more about OneCard’s industry details, business and revenue model, funding, competitors, and more.
Founded in 2019, FPL Technologies launched the brand ‘OneCard’ to redefine credit card that is designed in metal with full stack tech backed with transparency and clarity, making it India’s best-ever mobile credit card. OneCard currently offers services in 12 cities across India, including Mumbai, Bengaluru, Delhi, and NCR.
The newest startup to enter the unicorn club, OneCard has teamed up with several banks like IDFC First Bank, SBM Bank, South Indian Bank, Federal Bank, and Bank of Baroda Financial. It claims to have more than 600,000 users across the country as of 2022.
To keep security in check, the company boasts of having a strong commitment to its users’ data security. It stores and uses user data using its rock-solid secure procedures and technology implementations, in conjunction with regulatory compliance.
OneCard’s credit card allows its users to control every characteristic of a credit card, such as domestic or international use, transaction limit, online or offline, contactless payments, and many more benefits.
Any customer wanting to start using OneCard can experience seamless onboarding without much of a hassle. The activation of the credit card is digital and activates within five minutes. It comes without any hidden costs or annual fees by giving its customers more flexibility in using the card for transactions. It also offers EMI transactions that further give rewards to its customers. Lastly, one of the interesting features of OneCard is – the credit card can be shared with the user’s family, wherein the family will get OneCard of their own, whose spending can be controlled and managed by the user. OneCard is available on both Android and iOS.
FPL Technologies also run another app known as ‘OneScore’ to allow users to track their credit score. This app has about 70 million users.
It is great to see that India is among the fastest-growing Fintech market in the world today. With this, some statistics say that the Indian FinTech industry is predicted to be worth $106.2 Billion in 2024. Furthermore, it was reported that global fintech industry revenue was around $312.92 billion in 2024, and since then, the figure is only been going upwards.
OneCard – Founders
OneCard is founded by three banking veterans Rupesh Kumar, Anurag Sinha, and Vibhav Hathi in 2019.
Rupesh Kumar got his master’s degree from the Indian School of Business in Analytical Finance. He is also an alumnus of IIT, Delhi, where he got his bachelor’s degree in Mechanical Engineering. Rupesh started by working as a Software Engineer at Geometric Ltd. He has also worked at Dresdner Kleinwort Wasserstein for almost 2 years. During his stint at ICICI Bank, where he worked for 18 years, Rupesh was engaged in building and scaling mobile banking and digital payments at the bank such as – iMobile, UPI, Immediate Payment Services, Digital Wallet (Pockets), and Internet banking. He was responsible for the equity and debt fundraising and acquisition of two banks.
Anurag Sinha
Anurag Sinha is a graduate of IIT, Varanasi. He holds an MBA degree from the Indian Institute of Management, Bangalore. Anurag serves as a Member of the Global Advisory Board at Shoolini University, Himachal Pradesh. Before founding OneCard, he founded Walnut App in 2016, which is a personal finance mobile app, that automatically tracks spending, bank and card balances, P2P & bill payments, and split expenses without the need for bank passwords. Later on, the company got acquired by Capital Float. He has been associated with many organizations playing key roles. His longest stint was at ICICI Bank, where he worked for 13 years. Anurag Sinha is presently the CEO of FPL Technologies.
Vibhav Hathi
Vibhav Hathi has worked at ICICI Bank for 14 years, where he played many significant roles. Before becoming the founding member of OneCard, Vibhav founded his first company called Open Canvas, which is a mobile-based transaction platform to drive inter-operable digital payment. He was also a part of Reliance as a Management Trainee. Vibhav holds an MBA degree from the Indian Institute of Management, Kolkata.
OneCard – Mission and Vision
The mission of OneCard is, “To be India’s Best Metal Credit Card”
OneCard- Business and Revenue Model
The business model of OneCard is a mobile-based application model. The company mostly offers B2C solutions by teaming with various banks to offer the services of a credit card. The company’s main focus is consumer-based initiatives and improving customer experience.
The main business of OneCard is that it provides first-time credit card customers with a virtual, cellphone-based card to help them increase their credit score. It also offers an EMI service for purchases of Rs 3,000 and more, with an interest rate of 1.33% and a payback period of 3-24 months. The Credit card can be used both online and offline. It also offers a loyalty program to its customers, granting them reward points that they may spend for their next purchase.
The main build-up of OneCard has a technological stack that enables common sense features like transaction transparency, credit card bill due dates, and incentives, which are more easily accessible.
The company’s revenue crossed over INR 10 crore in the fiscal year 2021. Along with this, the company’s total costs increased by 4.3X to INR 33.15 crore.
OneCard shareholding as of November 2024 (source: Tracxn):
Onecard Shareholding
Percentage
Anurag Sinha
15.8%
Rupesh Kumar
7.8%
Vibhav Kirit Hathi
5.2%
Matrix Partners India
17.3%
Sequoia Capital
22.2%
QED Investors
8.3%
Hummingbird Ventures
4.9%
Tamasek
3.7%
Ocean View Investment
3.5%
ESOP Pool
3.3%
Others
8%
Onecard Shareholding
OneCard – Funding, and Investors
OneCard has received $262 million in investment over 9 rounds. Their most recent funding came from a Series D round on November 25, 2024. Better Tomorrow Ventures, Peak XV Partners, and Z47 are the most recent investors of OneCard.
Date
Funding Round
Amount
Investors
November 25, 2024
SERIES D
$28.5M
Better Tomorrow Ventures, Peak XV Partners, Z47
March 12, 2024
SERIES D
$918.0K
Alteria Capital
January 04, 2024
CONVENTION
$11.4M
Alteria Capital
May 23, 2023
SERIES D
$241.0K
Alteria Capital
July 13, 2022
SERIES D
$107 million
MacRitchie Investments
December 30, 2021
SERIES C
$75 million
QED Investors
April 9, 2021
SERIES B
$10 million
QED Investors
February 5, 2021
SERIES B
$25.1 million
Sequoia Capital
August 18, 2020
SERIES A
$10 million
Matrix Partners India, Sequoia Capital India
September 5, 2019
Seed Round
$4.5 million
Matrix Partners, Sequoia Capital India
OneCard – Revenue
OneCard Financials
FY22
FY23
FY24
Operating Revenue
INR 83.7 crore
INR 541 crore
INR 1,426 crore
Total Expenses
INR 281 crore
INR 1,000 crore
INR 1,866 crore
Profit/Loss
Loss of INR 182 crore
Loss of INR 406 crore
Loss of INR 401 crore
OneCard Financials
OneCard Operating Revenue has increased from INR 541 crore in FY23 to INR 1,426 crore in FY24. Coming to company profit/loss company losses decreased from INR 406 crore in FY23 to INR 401 crore in FY24.
Expenses Breakdown
OneCard total expenses have risen from INR 1,000 crore in FY23 to INR 1,866 crore in FY24.
EBITDA
The business’s financial performance improved from FY22 to FY23. Reduced expenses (INR 3.36 in FY22 to INR 1.85 FY23) were a major factor in the EBITDA margin shift from -184.18% in FY22 to -67.58% in FY23. ROCE showed improvement from -25.70% in FY22 to -34.73% in FY23, even though it remained negative. With potential for improvement, the company is on the road to recovery.
Indian Bank has partnered with OneCard to launch mobile-first, contactless, metal-cobranded credit cards. OneCard, managed by FPL Technologies, is designed for mobile use and developed in collaboration with issuer banks. FPL Technologies, founded by Anurag Sinha, Rupesh Kumar, and Vibhav Hathi, aims to innovate credit and payments with its digital-first approach.
Razorpay
OneCard has partnered with Razorpay to simplify credit card repayments for tech-savvy consumers. As OneCard’s user base grew, they sought a reliable payment partner to ensure seamless transactions. Known for its metal cards and user-friendly mobile app, OneCard stands out with transparent fees, an engaging rewards program, and a focus on financial management.
Innoviti
Innoviti Technologies (formerly known as Innoviti Payment Solutions), the largest partnership commerce platform in India, has teamed up with OneCard, a credit card redesigned for the mobile age, to promote greater financial inclusion in India through offline payments.
Federal Bank Partners
The nation’s youthful, tech-savvy populace is the target market for Federal Bank’s partnership with OneCard, which was unveiled on September 22, 2021.
Mswipe
Mswipe has partnership with OneCard on November 17, 2021 with this partnership company will offer no-cost Equated Monthly Instalments (EMIs) across its network of 250,000 retailers.
Pine Labs
OneCard and Pine Labs have a partnership to offer EMIs (equivalent monthly payments) to all OneCard credit card members on September 13, 2021.
OneCard – Challenges Faced
One of the biggest challenges faced by OneCard is the competition with UPIs. UPIs which are developed by retail banks are quickly gaining popularity. Although the rapid adoption of UPI reduced the use of debit cards, on the other hand, credit cards appear to be relatively impervious. However, the recent direction by the central bank that the role of co-branding partners for credit cards should be limited to marketing and distribution of cards and giving access to the cardholder for the products and services supplied is predicted to harm multiple credit card startups. Besides this, the integration of credit cards with UPI indicates that there will be an increase in credit card usage, but also poses a challenge to their business model because of no clearness on the merchant discount rate (MDR) for such expenses.
OneCard – Advertisements and Social Media Campaigns
In April 2022, OneCard ran two campaigns with the #BeTeamMetal. The ad is about OneCard’s mobile credit card that takes care of every aspect of its customer’s credit in just one card such as bill payments, transactions, spending limit, offers and rewards, and much more. In one video, a girl can be seen walking through the metal detector for security checking. The detector makes noise because of OneCard’s metal built-up, thus, showing the card’s genuineness. The campaign was a big hit with 14 million views.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations.
In the current era, a student needs tutoring for almost every subject. Sometimes they even find it difficult to manage various tuitions while on other occasions they struggle to get desired learnings from tutoring. This leads to unhappy students, switching tutors, which ultimately leads to wasting the students’ time and hampering their performance.
To overcome these challenges, Classplus was founded in 2018 to cater to all the learning needs of the students. Classplus is a coaching management program that helps to digitize coaching class operations. Classplus also provides personalized multimedia educational content for students and helps in lifting the performance of students across the country.
With the latest funding round, Classplus is valued at over $600 Million. Check out this StartupTalky article that covers all you want to know about Classplus’sthe Success Story, Classplus funding, Founder of the the Classplus app, its Business and Revenue Model, Acquisitions, Growth, Competitors, and more.
Classplus is a mobile-first SaaS platformthat enables coaching institutions, tuition centers and private tutors to bring their businesses online and streamline their content distribution, payments, communication, and online assessments via the all-in-one teaching app. Classplus is providing the bestmanagement softwareand mobile application service for coaching institutes, tuition centers, and private tutors. The teaching and learning approaches have been reformed with the innovative features and technologies that Classplus brings in, thereby empowering the educationalists to become future-ready.
How to take your offline coaching to online mode?
Classplus – How the App Works?
The Classplus mobile application brings tutors, students, and parents on a single platform that results in better communication and measurement of the growth and performance of a student. Now, if you are wondering about the Class plus app and the Classplus web login, then you need to know that:
One can log in via three modes – as a tutor, student, or parent.
Once logged in as a tutor, they can start their live classes, add students, share notices and also assign tests on the platform.
Objective questions are automatically corrected. Feedback can be given in the form of reports.
Analytics is shared with the parents and the tutors.
For subjective questions, students are supposed to click a picture of the answer written or the diagram.
How to use Classplus Lite?
Classplus app login
Class Plus app login is made really secure and offers a two-way authentication process for the users, which helps them take online tests accurately and with utmost transparency. The users have to enter the Org Code in the web Classplus app log-in page along with their mobile number and then make the Classplus app login securely.
MukulRustagi, VatsalRustagi, BikashDash, NikhilGoel and BhaswatAgarwal are the founders of Classplus.
Bhaswat Agarwal (left) and Mukul Rustagi (right) – Classplus Founders
Mukul Rustagi
Mukul Rustagi is the co-founder & CEO of Classplus. He has pursued his Bachelor’s Degree from the Indian Institute of Technology, Roorkee, after which he served as the Design Engineer Summer Internship at ISA – Intelligent Sensing Anywhere, Equity Research Analyst at ARC Financial Services Private Limited and Derivatives Analyst at Futures First.
Bhaswat Agarwal
Bhaswat Agarwal is presently the co-founder of Classplus. He pursued his B.E. in Electronics and Communication from Netaji Subhas Institute of Technology. Currently, he is looking after the operations and products of Classplus. He was previously the Technology Strategist at Microsoft.
Vatsal Rustagi
Vatsal Rustagi was one of the co-founders of Classplus. He pursued his Bachelor’s Degree from Delhi College of Engineering. Presently, he is the co-founder of FactoryPlus. Rustagi managed the Industrial Switchgear Sales at Havells India Ltd before founding Classplus. He served as the Business Head – Large fleets at LocoNav Inc. after exiting Classplus in March 2018. Rustagi eventually served as the Head – Credit Cards at Happay – Expense Management Solution for Businesses and has eventually started with FactoryPlus, after founding the company in June 2021.
Bikash Dash
Bikash Dash was also one of the co-founders of Classplus. He pursued his B.Tech in Computer Science from the College of Engineering (CEB), Bhubaneswar. Dash is also one of the co-founders of FactoryPlus now after leaving Classplus in April 2018. Dash was previously the Co-founder and CTO of Classplus.
Nikhil Goel
Nikhil Goel was another co-founder of Classplus. He pursued his Bachelor’s degree in Electronics and Communication Engineering from Netaji Subhas Institute of Technology. Presently, he is CEO of GOKADA. Goel has previous experience as the Co-founder of DropCalorie. Goel, after leaving Classplus, became the General Manager of Online Ordering at Zomato, then the Head of New Verticals at SafeBoda, and finally joined as the Vice President of Operations at GOKADA.
Classplus – Startup Story
Mukul Rustagi and Bhaswat Agarwal both used to study at the same IITJEE coaching center in New Delhi back in 2007 which went shut for 10 months before the exam date. The reason being the owners of the coaching institute finds it tedious to keep track of the performance and attendance of their growing numbers of students, they knew it was time to embrace technology.
That’s when Rustagi and Agarwal realized the need to build and scale B2B products in EdTech to solve the potential problem of educators and students. Speaking of this, Rustagi went to IIT-Roorkee and Agarwal went to Netaji Subhas Institute of Technology in Delhi for their graduation. Later in 2015, they teamed up to work together and launched Classplus in 2018.
The tagline of Classplus is “Aapki Coaching, Aapki App” which is dedicated to all the coaching institutes, tuition centers and private tutors to bring their businesses online thus empowering them to become India’s top educators with their own app.
Classplus Business Model and Revenue Model
Business Model of Classplus
Classplus operates on a B2B business model as it helps the educators to bring their offline businesses to online mode. With online comes the freedom to reach any part of the country as communication becomes bi-directional. It offers educators to take multiple live classes & teach unlimited students across the country without worrying about storage and video quality.
Not only that, educators can share their notes, post their pre-recorded lectures, collect fees, track their student’s performance and growth, and much more. This gives them an edge to improve their online teaching experience.
Revenue Model of Classplus
Classplus has a subscription-based revenue model. The platform charges subscription fees for its software suite, which handles class communication, payments, assessments, online learning programs, and attendance, thereby reducing the time spent on management activities and focusing more on classroom teaching, which ranges from INR 15,000 – INR 50,000 on a per annum basis depending on the service required. One wishing to join Classplus can book a free demo to see how Classplus can help boost the business.
Classplus shareholding as of June 2024 (source: Tracxn):
Classplus Shareholding
Percentage
Bhaswat Agarwal
6.0%
Mukul Rustogi
6.0%
Tiger Global Management
13.4%
Alpha Wave Global
16.4%
Blume Ventures
10.3%
RTP Global
8.4%
GSV Ventures
7.4%
Sequoia Capital
5.8%
STRIVE
2.9%
ESOP Pool
13.0%
Others
10.4%
Classplus Shareholding
Classplus – Investments
Classplus has made a strategic investment in Gyan Live, a platform focused on Gujarat’s state-level government exam prep. The investment will help Gyan Live expand to central government and school exam prep in regional languages. It will also enable the platform to use Classplus’ technology to improve the learning experience and expand its reach.
Classplus – Funding And Investors
Classplus has raised over $129.5 mn in funding. The last funding round raised by Classplus came in June 2021 via a Series C round where it raised $65 mn.
Classplus funding details are as follows –
Date
Transaction Name
Money Raised
Lead Investor
March 29, 2022
Series D
$70 Million
Tiger Global Management, Alpha Wave Ventures
June 23, 2021
Series C
$65 Million
Tiger Global Management, GSV Ventures, AWI, Blume Ventures, RTP Global and Blume Ventures
Today, Classplus boasts of having digitised 1 Lakh+ educators user base serving 20 million+ students in over 1,500 cities across the world and earned over INR 500 crore. During the pandemic, online learning platforms witnessed a huge rise whereby teaching is undertaken remotely and on digital platforms. Taking this as an opportunity, the company also launched Classplus Lite, a free mobile app for tutors with a small student base, which has over 500,000 users now. More than 80% of the Classplus user base is from tier 2 and tier 3 cities.
Classplus is planning to improve its technology and expand more product offerings. It enables tutors to set up their businesses online and bridge the gap between the students and tutors. It has witnessed a number of downloads and the team is heading towards earning more in numerous ways and fields.
FAQs
What is Classplus?
Classplus is a mobile-first SaaS platform. It enables private coaching institutions and their tutors to streamline their content distribution, payments, communication, and online assessments through the app.
What is the Classplus Business Model?
Classplus has a subscription-based business model. The platform charges subscription fees for its software suite & other services, which range from INR 15,000 – INR 50,000 on a per annum basis depending on the service required.
Who are the founders of Classplus?
Mukul Rustagi, Vatsal Rustagi, Bikash Dash, Nikhil Goel and Bhaswat Agarwal are the founders of Classplus.
How is Classplus login?
Classplus login is extremely secure and safeguarded with two-way authentication.
Who are the competitors of Classplus?
Classplus’s top competitors are Ethena, LearnIn, Aanaab and BabySparks.
How do Classplus works?
Classplus empowers the tutors and institutions of today to manage their own classrooms via a mobile app. They can simple:
Download the Classplus Lite app from Playstore
Invite and connect with students
Start Teaching
Is Classplus free?
Classplus Lite is a free app for teachers to teach and engage with their students.
E-commerce giant Flipkart has teamed up with the Department for Promotion of Industry and Internal Trade (DPIIT) to invest in and coach up-and-coming entrepreneurs in the nation in an effort to support the domestic startup ecosystem. Flipkart will support early-stage entrepreneurs through Flipkart Leap and Ventures, its startup accelerator, in accordance with the memorandum of understanding (MoU) that the two parties signed. Through the accelerator, the Walmart-backed company provides seed funding to Series A startups, with cheque sizes ranging from $200K to $500K. According to a statement from the e-commerce giant, Flipkart will also assist the up-and-coming businesses with the development of their prototypes and with entering foreign markets by offering infrastructure support.
Flipkart Claims To Have Supported 20 Startups Till Now
The organisation claims to have sponsored 20 startups through its accelerator since its founding in 2022, while it did not specify how many startups it plans to back. It has made investments in a number of firms, including FlexiflyMe, Dopplr, and NeuroPixel.AI. The accelerator fund has a $100 million size. According to Rajneesh Kumar, chief corporate affairs officer at Flipkart, the company hopes to use its $100 million venture fund to help entrepreneurs make ground-breaking discoveries that will influence technology and business in India and beyond.
In contrast, the DPIIT will give selected entrepreneurs access to industry reports, research papers, datasets, and other studies produced by government agencies for market research and expedited patent applications submitted by startups, as well as connections within the Startup India ecosystem. The innovative and entrepreneurial spirit that propels country’s development is embodied in India’s startup ecosystem. According to DPIIT director Sumeet Jarangal, this Memorandum of Understanding would strengthen India’s position as a global innovation leader by accelerating the conversion of ideas into meaningful solutions by leveraging the strengths of both parties.
Startup India’s Joint Secretary, Sanjiv Singh, underlined the importance of the Memorandum of Understanding in promoting an innovative and entrepreneurial culture, which are essential for India’s development. According to him, the collaboration would improve India’s standing as a worldwide leader in innovation by fostering an atmosphere that would enable companies to turn their concepts into useful solutions. He added that this partnership would give startups the boost they need to reach new heights and make significant contributions to the country’s technological and economic development.
DPIIT Forging Partnerships to Strengthen Startups’ Ecosystem
In recent months, DPIIT has formed four partnerships to support the Indian startup ecosystem. It joined together with HCLSoftware in October to advance its manufacturing incubator programme. Additionally, it established a business incubator in Gujarat in collaboration with Johnson Controls-Hitachi Air Conditioning India. Additionally, last week, the DPIIT teamed up with Moglix, a B2B e-commerce platform, to support manufacturing firms. The changes occur at a time when the startup scene in India is expanding rapidly. As of October 31, 2024, DPIIT-registered businesses have generated over 16.67 lakh direct jobs in over 55 industries, according to a statement made earlier this month by Commerce Minister Piyush Goyal.
With an estimated INR 1,500 crore in investment, IPO-bound Lenskart intends to establish its largest eyewear manufacturing facility in Telangana. On December 9, 2024, state IT and industries and commerce minister Duddilla Sridhar Babu posted on X that the Gurugram-based eyeglasses company has signed a memorandum of understanding (MoU) with the Telangana government to develop the facility in Fab City located at Raviryala village in Maheshwaram mandal of Rangareddy district.
With an approximate expenditure of INR 1,500 crore, Lenskart would establish the largest eyewear manufacturing facility in the world in the state of Telangana. According to Babu’s post on X, the plant will manufacture eyeglasses, lenses, sunglasses, accessories, and other goods for the Indian market in addition to exporting to other Southeast Asian and Middle Eastern countries.
Locking the Land
The facility will be built in Fab City, where land has already been selected and will be given to the business this week, Babu continued. There are rumoured talks on setting up an R&D plant, and the plant will generate about 2,100 jobs. Babu stated, “This is evidence of the state’s policy that guarantees speed and ease of business for companies.”
Lenskart was worth $5.6 billion this year after a fund run by the big American financial services company Fidelity raised its value. According to the most recent valuation of the business as of September 30, this indicates a 12% increase in the firm’s fair worth in Fidelity’s books. According to reports, Lenskart generated $1 billion in income annually for the current fiscal year. Temasek, Singapore’s state-owned investment firm, and Fidelity contributed $200 million to Lenskart’s secondary investment in June of this year. Secondary sales provide a means of paying back early investors when new companies’ value increases.
In this financing, the company managed by Peyush Bansal was valued at roughly $5 billion. In June of last year, the company raised $100 million in a fundraising round that valued it at $4.5 billion. With about $1 billion in money raised over the last two years, Lenskart is among the biggest growth-stage financings in the world.
Lenskart on Expansion Spree
While expanding quickly throughout Asia, Lenskart is still expanding its market share in India. Its distinctive click-and-mortar business strategy is upending the eyewear market by providing a multi-channel consumer experience through mobile apps, online platforms, and physical stores. Currently, the corporation operates over 2,500 outlets, with 2,000 of those being in India.
Delhi-based Lenskart faces competition from companies like Warby Parker, Specsmakers, Vision Express, Titan Eyeplus, and the Italian eyewear giant Luxottica Group, both domestically and internationally.
In order to expand its business and obtain access to new technology, the corporation has also been making acquisitions. These include businesses like Tango Eye, a firm focused on computer vision and artificial intelligence. In 2022, Owndays, a Japanese brand, joined the Lenskart group in an estimated $400 million purchase.
Nitin Konde
