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  • How Anuj Kumbhat of WRMS is Shaping the Future of Climate Risk Management

    Anuj Kumbhat, Founder & CEO of WRMS, has dedicated his career to helping vulnerable communities tackle the growing challenges of climate change. WRMS, in the beginning, focused on supporting farmers, but later expanded to offer climate risk management solutions across industries like agriculture, travel, and renewable energy. In this interview with StartupTalky, Mr. Kumbhat shares his journey and insights on the future of climate risk management.

    StartupTalky: What inspired the founding of WRMS, and how has its mission evolved since then?

    Mr. Kumbhat: WRMS was founded with a deep commitment to empowering vulnerable communities and businesses to navigate and overcome the challenges posed by climate change. Initially, the company’s primary focus was on agriculture, developing innovative solutions to help farmers manage climate risks. However, as the company’s expertise in climate risk management and technologies grew, so did its mission.

    WRMS expanded its reach into other critical sectors, including travel, supply chain management, and renewable energy. This evolution reflects the company’s dedication to making a meaningful and lasting impact across multiple industries, driven by a powerful mission that now guides every aspect of its strategic direction and growth.

    StartupTalky: How have WRMS’s solutions impacted farmers in India and internationally?

    Mr. Kumbhat: WRMS’s solutions have had a profound impact on farmers both in India and internationally by equipping them with essential tools and financial safeguards to embrace smart and sustainable farming practices.

    In India, WRMS’s SecuFarm platform has provided farm-level risk management and advisory services, enabling small and marginal farmers to protect their crops and make informed decisions that enhance productivity and resilience. This approach has ensured that farmers receive tailored guidance to navigate climate-related risks effectively.

    Internationally, WRMS has partnered with organizations like UNCDF to create climate risk insurance products, including the Pacific region’s first index-based microinsurance against cyclonic storms. These efforts have empowered thousands of smallholder farmers and communities, helping them secure their livelihoods and withstand the increasing challenges posed by climate change.

    StartupTalky: How does WRMS, through its subsidiary Ingen Technologies, utilize data, technology, and financial innovation to enhance risk management across various sectors, including agriculture?

    Mr. Kumbhat: WRMS leverages data, technology, and financial innovation to significantly enhance risk management not only for farmers but also across various other sectors. Through its subsidiary, Ingen Technologies, WRMS utilizes advanced IoT devices and cutting-edge sensor technology for hyper-local monitoring of environmental conditions, assessing exposure to natural catastrophes such as droughts, floods, and cyclones.

    This precise, real-time data is instrumental in designing accurate weather index-based insurance products that provide stop-loss protection, ensuring automated claims payouts based on actual losses caused by natural hazards.

    By combining this real-time monitoring with innovative financial solutions, WRMS effectively safeguards the incomes and investments of farmers while also extending this expertise to other industries, enabling efficient and sustainable risk management across diverse sectors.

    Mr. Kumbhat: WRMS is particularly interested in several emerging trends in climate risk management that are shaping the future. The evolving regulatory landscape, especially with the introduction of frameworks like the ISSB (International Sustainability Standards Board), is becoming increasingly significant. WRMS recognizes the importance of adapting to new climate disclosure requirements and navigating these changes effectively to maintain transparency and meet stakeholder expectations.

    Additionally, there is a strong focus on building credibility with stakeholders by providing accurate and structured climate-related disclosures. As the maturity of climate disclosure practices continues to evolve, WRMS is committed to ensuring that data is measured and reported effectively to stay ahead of emerging requirements.

    Another key area of interest for WRMS is the integration of AI and advanced technology in climate risk management. The automation of once manual tasks is revolutionizing the way teams operate, allowing for greater efficiency and more data-driven decision-making. This technological advancement enhances the precision and effectiveness of climate strategies, which is crucial for effective climate risk management.

    Furthermore, WRMS is keenly focused on balancing climate risks with opportunities, understanding that this is essential for long-term survival and growth. The investors are particularly attuned to how these factors influence both decarbonization efforts and adaptation strategies, a critical area of interest for investors and stakeholders alike.

    StartupTalky: Can you explain the role of the SecuRisk platform in WRMS’s services and how it addresses climate risks?

    Mr. Kumbhat: The SecuRisk platform plays a pivotal role in WRMS’s services by addressing climate risks through advanced parametric insurance solutions. This platform is specifically designed to cater to industries that are highly vulnerable to the impacts of climate change, thereby broadening WRMS’s reach beyond its traditional focus on agriculture.

    SecuRisk offers an extensive range of services that include the meticulous design of parametric insurance covers tailored to specific risks, effective reinsurance management, and the deployment of advanced IoT devices for hyper-local forecasting. These IoT devices gather precise, real-time data that informs risk assessment and enables the development of more accurate and responsive insurance products.

    By integrating these cutting-edge technologies and expertise, the SecuRisk platform empowers WRMS to deliver bespoke risk management solutions that provide financial protection against the adverse effects of severe weather events. This protection is crucial for businesses across various sectors, allowing them to maintain stability and resilience in the face of increasing climate volatility.

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    StartupTalky: How does WRMS’s SecuRisk platform enhance productivity and promote sustainable farming practices for farmers?

    Mr. Kumbhat: WRMS’s SecuRisk platform supports farmers in improving productivity and practicing sustainable farming by providing advanced parametric insurance solutions that protect against climate-related risks. Utilizing hyper-local monitoring with IoT devices and satellite technology, SecuRisk offers precise risk assessments and automated payouts in the event of adverse weather, ensuring farmers’ financial stability.

    Additionally, the platform integrates smart farming practices by offering access to high-quality agricultural inputs and real-time advisory services, encouraging sustainable farming methods. SecuRisk also connects farmers with better market opportunities, helping them increase their income while promoting long-term resilience and productivity.

    StartupTalky: What challenges have you encountered in developing agricultural and dairy risk management solutions, and how have you addressed them?

    Mr. Kumbhat: In developing agricultural risk management solutions, we have encountered challenges such as accurately assessing risks across diverse climatic conditions, limited access to reliable data in remote areas, and resistance to adopting new technologies. Additionally, many farmers lack awareness about the benefits of risk management solutions, which can hinder their adoption.

    To address these challenges, we’ve leveraged advanced technologies like IoT devices and satellite data to gather precise, real-time information, even in hard-to-reach areas. This data allows us to tailor our solutions to the specific needs of different agricultural regions. We’ve also prioritized education and outreach efforts, working closely with farmers to demonstrate the value of these technologies and encourage their adoption.

    Moreover, increasing awareness and acceptance of these risk management tools within the dairy industry has been crucial, as many companies initially hesitate to adopt new technologies due to a lack of understanding of their benefits.

    To address this, we have focused on building strong partnerships with dairy companies, offering comprehensive training and support to demonstrate how these solutions can enhance operational efficiency, mitigate risks like theft and supply chain interruptions, and ultimately lead to more sustainable business practices.

    Through these efforts, we’ve successfully helped dairy companies integrate advanced risk management strategies into their operations, ensuring greater resilience in the face of industry challenges

    StartupTalky: How have investments and grants from organisations like SIDBI, UPL, ILO, and the Ford Foundation influenced WRMS’s growth and development?

    Mr. Kumbhat: These contributions have enabled WRMS to develop and implement advanced solutions that integrate data, technology, and financial innovation. Specifically, the backing from SIDBI and UPL has facilitated the expansion of our climate risk management tools, allowing us to refine our technology and broaden our service scope.

    The ILO’s support has been instrumental in fostering our capacity to address climate-related challenges in agriculture and other sectors, while the Ford Foundation’s investment has bolstered our ability to implement sustainable and impactful solutions on a global scale.

    Overall, this support has been crucial in advancing our mission to tackle complex climate issues, enhancing our ability to deliver effective, data-driven, and financially innovative solutions that address the diverse needs of our stakeholders.

    StartupTalky: How did your experience in finance and insurance influence your approach to establishing WRMS? (this is specific to Anuj Kumbhat)

    Mr. Kumbhat: My experience in finance and insurance, particularly during my time working for a globally renowned insurer, played a pivotal role in shaping the approach to establishing WRMS. During my career, I gained a deep understanding of risk management and data-driven decision-making, especially while developing index insurance products.

    This hands-on experience not only highlighted the potential of innovative insurance solutions to address complex challenges, but it also revealed significant gaps, particularly in climate risk management for vulnerable communities and sectors like agriculture, where traditional insurance products often fell short.

    This realization inspired me to co-create WRMS, with a focus on leveraging advanced technologies and financial innovations to develop more effective and accessible risk management solutions. The principles I learned—such as risk assessment, mitigation, and the importance of building trust through reliable and transparent products—are deeply embedded in WRMS’s operations.

    This foundation has driven the company’s mission to not only provide protection against climate-related risks but also to empower communities and industries to thrive despite these challenges.

    StartupTalky: How does INGEN Technologies complement WRMS’s mission and contribute to your overall strategy?

    Mr. Kumbhat: INGEN Technologies plays a crucial role in complementing WRMS’s mission by enhancing our capabilities in comprehensive climate risk management. By integrating cutting-edge technology with expert knowledge, INGEN Technologies provides the technological foundation that drives our overall strategy.

    Our collaboration allows us to offer an extensive range of services, including high-resolution climate outlooks, long-term climate change vulnerability assessments, and advanced risk modeling. These services are powered by state-of-the-art IoT devices, machine learning capabilities, and precise data from weather station networks.

    Additionally, INGEN Technologies brings together a dedicated team of experts in remote sensing, data analysis, and ground-level operations, ensuring that we collect and analyze the most accurate and relevant data. This expertise is particularly valuable in creating tailored solutions for industries such as finance, insurance, and agriculture.

    By combining technological advancements with deep industry knowledge, INGEN Technologies significantly enhances WRMS’s ability to deliver holistic and effective climate risk management solutions across multiple sectors, thereby advancing our shared mission of building resilience against climate-related challenges.

    StartupTalky: What advice do you have for entrepreneurs looking to enter the agriculture and climate risk management sectors?

    Mr. Kumbhat: For entrepreneurs entering the agriculture and climate risk management sectors, it’s essential to prioritize technology-driven solutions that are agile and adaptable to change. Building strong partnerships with key stakeholders, including financial institutions, government bodies, and industry leaders, will be critical to your success.

    Embrace a mindset of continuous improvement, always looking for ways to enhance your offerings and stay ahead of industry trends. Additionally, focus on community development by creating solutions that not only address immediate challenges but also contribute to long-term sustainability and resilience.

    Lastly, while it’s important to consider your business goals, ensure that your work also delivers real value to the communities and industries you serve, balancing self-interest with broader impact.

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  • Amrit Acharya: The Visionary Behind Zetwerk’s Manufacturing Revolution

    Amrit Acharya, co-founder and CEO of Zetwerk, is an innovative leader driving one of India’s fastest-growing manufacturing marketplaces. His entrepreneurial journey led Zetwerk from a SaaS startup to a global B2B marketplace. An avid angel investor, Mr. Acharya supports fintech and design-focused startups. This article explores Amrit Acharya’s inspiring journey from IIT Madras to co-founding Zetwerk, a $2.7 billion global manufacturing powerhouse transforming India’s industrial landscape.

    Learn about Amrit Acharya, his education, career, family, Zetwerk, and more from this article.

    Amrit Acharya – Biography

    Name Amrit Acharya
    Birthplace Bhubaneswar, Odisha, India
    Born 01 Jan 1970
    Nationality Indian
    Education Electrical Engineering from IIT-Madras
    MBA from HAAS School of Business, University of California
    Position Co-founder & CEO of Zetwork
    Net worth INR 3730 crore (Feb 2024)
    Website Zetwerk.com

    Amrit Acharya – Early Life and Education
    Amrit Acharya – Career
    Amrit Acharya – Personal Life
    Amrit Acharya – Zetwerk
    Amrit Acharya – Journey So Far!
    Amrit Acharya – Investments
    Amrit Acharya – Unknown Facts / Interesting Facts
    Amrit Acharya – Top Quotes

    Amrit Acharya – Early Life and Education

    Amrit Acharya’s academic path blends technology and business, shaping the foundation of his career. He kicked off his studies at BJB Junior College, focusing on Science from 2004 to 2006. From there, he dove into Electrical Engineering at the prestigious Indian Institute of Technology, Madras, earning his Bachelor of Technology degree in 2010. But he didn’t stop there—he decided to broaden his business acumen by pursuing an MBA at the University of California, Berkeley, Haas School of Business, graduating in 2016. This combination of technical knowledge and business insight has played a key role in his professional journey.

    Amrit Acharya – Career

    Amrit Acharya began his career in India with ITC after graduating from IIT Madras in 2010. He later moved to the U.S. to pursue an MBA, where he expanded his expertise in business. During his time in the U.S., Amrit spent over three years working at McKinsey’s Palo Alto office, as well as other firms, gaining valuable insights and experience across various industries.

    Amrit Acharya – Personal Life

    Amrit Acharya hails from a family deeply rooted in education and social impact. His mother, Dharitri Dwivedy, leads Women Education and Environment, a nonprofit empowering rural women entrepreneurs in India. His father, Dr. Arabinda Acharya, is a professor at the College of International Security Affairs at National Defense University, Fort Bragg, N.C., and an accomplished author on international studies. Amrit met his wife, Sharanya Nedungadi Haridas, while both were students at IIT Madras. Their shared journey culminated in marriage on December 21, 2018. Their relationship, which started in the academic halls of Chennai, continues to thrive today.

    Amrit Acharya – Zetwerk

    Srinath Ramakkrushnan and Amrit Acharya
    Srinath Ramakkrushnan and Amrit Acharya

    Amrit Acharya and Srinath Ramakkrushnan, two visionary IIT graduates have been redefining manufacturing in India through their groundbreaking company, Zetwerk. Zetwerk initially envisioned as a software-as-a-service (SaaS) venture, recognized the need for a strategic pivot to thrive in the market. Amrit Acharya and his co-founders transformed the business into a B2B manufacturing marketplace. This bold shift has propelled the company to a valuation of $2.7 billion today, making it a Unicorn.

    Zetwerk took root almost six years ago, initially targeting the capital equipment sector.

    Srinath explains, “We zeroed in on a specific industry challenge—ensuring predictability and reliability for our clients.”

    This focused approach not only laid a solid foundation but also opened doors to diverse industrial opportunities.

    Reflecting on their leap from secure corporate jobs in the U.S., Amrit shares the passion fueling their journey: “Our mission is clear: to transform India into a manufacturing powerhouse.”

    Their unwavering dedication is paving the way for significant change in the manufacturing landscape.

    To conclude, Zetwerk has officially entered discussions with JP Morgan and other top bankers as it gears up for its initial public offering (IPO). The rapidly growing manufacturing startup is positioning itself to join the ranks of Indian unicorns seeking to go public, signaling a new chapter in its expansion strategy.

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    Amrit Acharya – Journey So Far!

    Amrit Acharya’s journey began in an unexpected yet formative way at ITC, where he was tasked with building a new factory fresh out of college. Despite knowing little about factory construction, Amrit found himself managing a team of seasoned professionals, some in their 40s and 50s, which taught him the importance of leadership, innovation, and adaptability. This experience sparked his entrepreneurial spirit, especially as he witnessed the wave of innovation sweeping through India in the early 2010s. It was during this time that Amrit realized the need to be at the forefront of this transformation.

    After spending some time in the U.S., optimizing for practicalities like visas and teams, Amrit made a pivotal decision: to return to India and contribute to the country’s entrepreneurial boom. He teamed up with Srinath, a long-time friend and co-founder and together they launched Zetwerk with a clear vision—to revolutionize procurement and supply chain management. Drawing on Amrit’s early experience of managing small manufacturers through spreadsheets and manual processes, they wanted to build software that could streamline and optimize procurement at scale.

    Amrit envisions Zetwerk as a catalyst for socio-economic change, fostering inclusive growth and prosperity throughout India focusing on creating job opportunities in rural areas, detailing Zetwerk’s commitment to utilizing technology and skill development to empower underserved communities. Amrit aims to pave the way for a more equitable and sustainable future by prioritizing empowerment and inclusivity.

    Amrit Acharya – Investments

    Amrit Acharya is an Angel Investor based in Bengaluru, focusing on transformative sectors like Design, Fintech, and Software. His notable investments include:

    Date Organization Name Funding Round Money Raised
    August 22, 2023 Boxs Seed Round $1.6 million
    May 25, 2022 Nakad Seed Round $7 million
    April 4, 2022 Agrizy Seed Round $4 million
    August 17, 2021 Yojak Seed Round INR 282 million

    Amrit Acharya – Unknown Facts / Interesting Facts

    Amrit Acharya’s passion for cricket began at a young age. In January 2001, he proudly represented the Orissa State Cricket Team at the all-India level in under-14 tournaments.

    Amrit Acharya – Top Quotes

    💡
    Wake-up.Work.Sleep.Repeat – Freedom!

    FAQs

    Who is Amrit Acharya?

    Amrit Acharya is the Co-founder and CEO of Zetwerk.

    What is Amrit Acharya Education?

    Amrit Acharya did Electrical Engineering from IIT-Madras and an MBA from HAAS School of Business, University of California.

    What does Zetwerk do?

    Zetwerk is a supply chain management company that engages in connecting with manufacturers to give customized results.

    Who is Amrit Acharya wife?

    Sharanya Nedungadi Haridas is the wife of Amrit Acharya.

  • Address Advisors: Leading the Way in Real Estate Advisory and Consultancy

    The real estate sector is one of the most globally recognised industries. It incorporates four major asset classes: residential, retail, hospitality, and commercial. The growth of this sector is well complemented by the expansion of the corporate environment and the increasing demand for allied industries such as automobiles, manufacturing, banking, consumer durables, and more. Additionally, the rise in urban and semi-urban accommodations has further fueled growth. It is also expected that the real estate segment will attract increased investment from non-resident Indians (NRIs), both in the short term and long term.

    Address Advisors, as the name suggests, are highly spirited, richly experienced, thoroughly professional, and technically sound advisors. Based in Bengaluru, Address Advisors is a Real Estate Advisory and Consultancy Firm specialising in the sale, purchase, and leasing of properties. The firm advises and helps clients find the best address, whether commercial, industrial, residential, owned, rented, or shared.

    In this article, learn more about Address Advisors, its founders, its startup story, future plans, and more.

    Address Advisors – Company Highlights

    Company Name Address Advisors
    Headquarters Bengaluru, Karnataka, India
    Founders Bhawana Khetan, Sunny Mogra
    Founded 2016
    Sector Real Estate Consultant
    Registered Entity Name RE Solutions Team LLP / Adrez Advisors Private Limited
    Website addressadvisors.com

    Address Advisors- About and How it Works
    Address Advisors- Industry Details
    Address Advisors- Founders
    Address Advisors- Startup Story
    Address Advisors- Name, Logo and Tagline
    Address Advisors- Vision and Mission
    Address Advisors- Products/ Services
    Address Advisors- Revenue Model
    Address Advisors- Startup Launch
    Address Advisors- Customers/ Clients
    Address Advisors- Challenges
    Address Advisors- Achievements and Client Relationship
    Address Advisors- Future Plans

    Address Advisors- About and How it Works

    Address Advisors is a client-centric real estate advisory and consulting firm engaged in providing solutions to investors, developers, MNCs, individuals, etc. expanding the team to beyond 200+ members with a strong digital presence and completely bootstrapped.

    Address Advisors is a Real Estate Broker firm offering services such as investment management, re-financial structuring, leasing, selling, purchase, etc, and covers the various real estate asset classes such as Residential, Commercial (Corporate Real Estate), Warehousing & Logistics, Land & Industrial, Hospitality, etc.

    An Address today has come a long way from being a mere necessity to an identity that speaks of stature; to a resource that enhances efficiency; to an environment that optimizes ergonomics. Just as you trust your Doctor, we take pride in understanding the pulse and beyond.~ Sunny Mogra and Bhawana Khetan.

    Address Advisors- Industry Details

    Post-Economic Liberalization, when India opened its doors to the world, a wave of economic growth hit the country. Everyone wanted a bite of the immense opportunities that came with it, especially in real estate. This marked the entry of international real estate players in India. Since real estate was a fragmented market and an unorganized sector up until very recently, a lot of these companies were misguided by the realtors. The market lacked a professional setup that was going to help these companies from allied industries with their real estate needs.

    So, the idea was to first penetrate the market, make the clients understand the value addition a professional organization would bring to the table, and then enter the areas occupied by other competitors. The company caters to a range of real estate requirements, starting from those of an individual to a startup to small industries and even to huge corporate giants.

    Address Advisors Target Market

    Currently, Address Advisors hold a market share of 7-8% of the overall industry with services in commercial, land, industrial, residential, hospitality, and retail segments. Presently, Address Advisors is headquartered in Bangalore and is on the growth trajectory to increase market presence by about 50% year on year.

    The real estate industry in India was valued at approximately USD 477 billion in 2022 and is expected to reach USD 1 trillion by 2030. Looking ahead, Indian real estate has the potential to become a USD 10 trillion market by 2047, contributing 14-20% to the country’s GDP. Retail, hospitality, and commercial real estate are also growing significantly, providing the much-needed infrastructure for India’s growing needs.

    The built environment industry is at an inflection point where new technologies such as Artificial Intelligence will seamlessly transition into the brokerage industry paving new paths for streamlining the practice further. With RERA into effect, there will be more standardization and legalized ways of doing transactions. This industry is on the path to maturity as is seen in the gigantic policy changes in recent years. The founders of Address Advisors see this as having a positive impact on buyers and the team serving this industry.

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    Address Advisors- Founders

    Bhawana Khetan and Sunny Mogra are the co-founders of Address Advisors.

    Address Advisors Founders - Sunny Mogra and Bhawana Khetan
    Address Advisors Founders – Sunny Mogra and Bhawana Khetan

    The co-founders Ms. Bhawana Khetan, and Mr. Sunny Mogra have known each other for the past 25 years. They had a successful stint together at Cushman & Wakefield, where they were both handling different businesses for the firm, Sunny always had an entrepreneurial zeal to start something on his own.

    The diverse skill sets that each of them possesses and the seamless synergy the two can bring to the table lend their partnership an edge over the others. Hence, getting on board for the idea behind Address Advisors didn’t require much convincing. The mutual respect between the two with their belief and support for each other’s talent and growth has allowed Address Advisors to scale heights so quickly.

    The clarity of the thought process, exuberance, and the ideology behind the startup was what brought the founders together.

    Bhawna believes there is no better partnership than theirs in the industry and it’s a no-brainer that their synergy resulted in magic. They have very different roles owing to their inherent capabilities and there is a very clear distinction between the roles. Sunny is more of a thinker. He is in charge of marketing and taking the company forward while Bhawana is the muscle behind the company. She handles everything related to execution.

    Address Advisors- Startup Story

    They wanted to create an Indian-homegrown company that would be the pioneer for setting the benchmark for real estate consulting services in India. Their driving belief is that they can raise the quality and standard of service levels in the advisory business. Address Advisors’ commitment to its clients, its integrity, and a non-wavering ethical policy have allowed it to deliver spaces that surpass the expectations of customers.

    The formulation of the company, apart from the factors mentioned before, was also driven by the new process it set up to revolutionize the traditional way of working. There is immense scope to execute fresh ideas, inculcate new thought processes, and create a conducive atmosphere of learning and growth in the changes brought about by Address Advisors.

    Bhawana and Sunny were part of the real estate industry for a long time and wanted to raise the bar on the service levels provided to clients not just on paper but also in reality.

    The idea of validation came when a lot of their co-workers wanted to become a part of the journey. The confidence shown by colleagues and friends in the ideation of Address Advisors spoke volumes about the duo’s faith in the business plan. Numerous clients were ecstatic to hear the idea that Bhawana and Sunny started a venture of their own. These customers continue to participate in the brand-building process. Their continued support validated their efforts and the very premise that the market missed a venture like theirs.

    Address Advisors- Name, Logo and Tagline

    Address Advisors Logo
    Address Advisors Logo

    Bhawana and Sunny started a company named Real Estate Solutions Team (REST) immediately after leaving their jobs. As the business picked up speed, different verticals were established to handle different service lines, the company rebranded itself as Address Advisors. It was the first step towards building a brand identity. A professional organization suggested the name Address Advisors since it could echo easily with the international community as well as the local home-grown community.

    Both the founders believe in simplicity and authenticity. Thus, they wanted a logo that works across all platforms and resonates with the work the firm does. Real estate is driven by location and the Google Pin is an apt logo that simply drives home the point that Address Advisors helps with one’s address-related requirements.

    Address Advisors play an advisory role and not simply brokerage work. That is the idea the company wanted to portray in its name and logo. Simplistic to the point and not to go overboard with it.

    Tagline: Address Advisors | Your Address, Our Advice

    Address Advisors- Vision and Mission

    The company has the vision to become a one-stop shop for any and all real estate consulting and brokerage solutions. Their mission is that the name Address Advisors should become synonymous with setting up the benchmarks and standards for real estate consultancy services within India and globally.

    They have observed that most Indian companies follow international standards, but they wanted to establish new benchmarks through their company that would become the new standards other companies could aspire to achieve.

    They inherently believe that their firm, which is an Indian home-grown company, can be a pioneer in this field and blaze the path for young budding entrepreneurs who wish to enter this industry.

    Address Advisors- Products/ Services

    Address Advisors is in the service-orientated industry, and its work practice involves servicing clients with the right knowledge, skill, and attitude.

    The firm’s innovation lies in the quality and execution of the service it provides. It understands that the real estate needs and requirements are different for different people. They offer tailored services such as micro and macro analysis to their clients, depending on their requirements, to help them make informed real estate decisions.

    Earlier, the real estate spending of companies was not very highly reflected on the balance sheet, but now it is a substantial amount. So, Address Advisors’ expertise helps them make an informed decision about their business plan and create a better business sense for themselves.

    Their innovation also lies in the manner in which it executes advisory roles. It works not only as a typical real estate broker but also advises clients based on real estate knowledge. Address Advisors also believes in cross-selling. Most of the time it happens that a client comes with a particular requirement, but on understanding his needs, the firm understands that he also has real estate requirements pertaining to different asset classes.

    Their integrated work structure allows them to service multiple needs of the clients at once. This has been a differentiator for them in this IPC world. The focus is on multiple problems of the client and not just getting done with the deal/transaction. It may sound very cliché, but the magic lies in execution. And execution is something the company has innovated.

    Address Advisors is among the few startups lucky to have a thought process or core business value that hasn’t changed. The company’s initial thought process was raising the bar with client servicing. With each passing year, it has grown; its policies have become better; they have set up new benchmarks for the industry, but the core business value and the idea with which Bhawana and Sunny started this company hasn’t changed.

    Address Advisors- Revenue Model

    They are a broking company. The firm is currently servicing residential, commercial, land, industrial warehousing, hospitality, and retail asset classes. Address Advisors’ revenue model is brokerage.

    Address Advisors- Startup Launch

    Bhawana and Sunny have been a part of this industry for the last 20 years. When they left their previous organization, they didn’t contact any of the clients they had worked for previously, since they believed they were attached to the brand they were working for. There were quite a number of clients they had locally won for their previous organization, who chased them out and wanted to continue working with them irrespective of the brand name.

    It was these previous clients who believed in them and in their services, irrespective of the brand. These clients became the starting point of the company and they still continue to work with them to date. Their unshaken belief in both Sunny and Bhawana, gave the duo a lot of confidence in what they did and continue to do. That’s what has kept them going.

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    Address Advisors- Customers/ Clients

    For the first three years, they didn’t do any campaigns. They were blessed with an immense amount of client referrals, and cross-referrals and so didn’t have the time to create any marketing campaign. The word-of-mouth publicity was spreading fast in the client community which believed that theirs was the consultancy firm to work with as they deliver what they promise.

    Address Advisors- Challenges

    Hiring the right resource is one of the many challenges that the company faces. Though the real estate sector is humongous, and every Indian knows about real estate the way they know about cricket, when you come to the practical aspect of real estate, the reality is different. There is a lot of aptitude and attitude changes that a person needs to make or come with to serve in this part of the industry.

    And not everyone is cut out to be a part of this industry. It is an industry with limited skilled resources, and very few can execute their jobs to the best of their abilities. Since this is one of the few industries that can create a huge financial impact on the client one is servicing, a piece of wrong advice can lead to a massive drain of the financial resources of the client.

    Address Advisors- Achievements and Client Relationship

    Sunny Mogra and Bhawana Ketan have won a couple of awards, but mostly they haven’t participated in many. They have been hustling and trying to grow and create “an impact with their clients.” According to the founders, the fact that their clients always welcome them with a smile the next time they see them is the biggest award anyone can ask for.

    Their biggest achievements are divided into three parts:

    1. The first is being able to go home every day knowing that they have served the client in the right manner.
    2. The second is seeing the happy faces of those who have worked with them. That gives them a lot of high and the energy to keep hustling more.
    3. The last is when clients come back to them repeatedly for advice.

    It may not always lead to a monetary benefit, but the fact that clients approach them every time for guidance gives them a feeling that they have done things right!

    Address Advisors- Future Plans

    Bhawana and Sunny-led Address Advisors are already establishing their footprints across India in all major cities and look forward to going beyond the country to establish offices in other countries by 2026. Their speed of growth has been phenomenal and they are already one of the fastest-growing real estate firms in the country. They hold a strong vision to take a homegrown brokerage business global.

    FAQs

    What is Address Advisors?

    Address Advisors is a Bengaluru-based real estate advisory and consulting firm specialising in the sale, purchase, and leasing of properties.

    Who are Address Advisors founders?

    Bhawana Khetan and Sunny Mogra are the co-founders of Address Advisors.

    What services does Address Advisors offer?

    Address Advisors offers various services such as investment management, re-financial structuring, leasing, selling, purchase, etc., and covers the various real estate asset classes such as residential, commercial (corporate real estate), warehousing & logistics, land & industrial, hospitality, etc.

  • Foxhog Ventures, Led by Tarun Poddar, Closes Massive Land Deal in Delhi

    In a landmark deal, Foxhog Ventures, helmed by CEO Tarun Poddar, has successfully completed a major land acquisition in Delhi. The venture capital firm has secured a prime residential property located on the prestigious Barakhamba Road in Connaught Place, valued at a staggering $12.67 million. This acquisition further cements Foxhog’s expanding footprint in India’s burgeoning real estate sector, positioning the company for sustained growth in a highly competitive market.

    Situated in one of Delhi’s most exclusive areas, the newly acquired property is expected to significantly bolster Foxhog’s investment portfolio. Connaught Place, often regarded as the financial and cultural heart of the city, is home to some of the most sought-after real estate, making this acquisition a strategic milestone for the company. This move aligns seamlessly with Foxhog’s broader vision of expanding its assets in high-growth sectors and regions, solidifying its presence in key markets across the globe.

    Foxhog Ventures, originally based in the USA, has consistently focused on investing in innovative startups and scalable businesses, with operations spanning India, the Americas, and the Middle East. The firm, under the leadership of Stanford graduate Tarun Poddar, has been a catalyst for entrepreneurship, particularly in emerging markets. By leveraging local insights and global expertise, Foxhog has nurtured the growth of several promising businesses, driving economic development and innovation.

    This recent acquisition is part of Foxhog’s strategy to diversify its investment portfolio beyond its core focus on technology and innovation-driven ventures. By expanding into real estate, Foxhog demonstrates its adaptability and long-term vision in tapping into high-potential growth sectors.

    With a track record of successful investments across multiple industries, Foxhog continues to evolve as a key player in the global venture capital landscape, shaping the future of emerging economies. The acquisition of this prime property in Delhi marks yet another chapter in Foxhog’s remarkable journey, as it strengthens its foothold in India’s dynamic real estate market.

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  • Ashish Hemrajani: Crafting a New Era for Entertainment in India with BookMyShow

    Ashish Hemrajani is an Indian Entrepreneur who founded India’s number 1 online ticket-booking platform BookMyShow for concerts, movies, plays, sports, and live events. He is the founder and Chief Executive officer (CEO) of BookMyShow. In 1999, he launched Bigtree Entertainment, the parent company that owns the online ticket-booking venture BookMyShow.

    Ashish Hemrajani – Biography

    Name Ashish Hemrajani
    Born 1975
    Nationality Indian
    Hometown Mumbai, India
    Education Mithibai College, Mumbai, College of Commerce and Economics, Syndenham
    Profession Entrepreneur, Businessman
    Position Founder & CEO of BookMyShow
    Net Worth INR 3000 crore
    Marital Status Married

    Ashish Hemrajani – Personal Life & Family
    Ashish Hemrajani – Education
    Ashish Hemrajani – Professional Life
    Ashish Hemrajani – Success Story
    Ashish Hemrajani – Bigtree Entertainment
    Ashish Hemrajani – BookMyShow
    Ashish Hemrajani – Controversy
    Ashish Hemrajani – Awards

    Ashish Hemrajani – Personal Life & Family

    Ashish resides in Mumbai with his family since childhood. He was born to a wealthy family. His parents are really proud of him as he knew how to use his time effectively. They accorded that Ashish has been a disciplined, smart and hardworking person since childhood. Though he is not frank enough to display his personal life publicly through social media. He is now married and he gives all the credit to his family, wife and friends who helped and encouraged him throughout.

    Ashish Hemrajani – Education

    He did his schooling from Maneckji Cooper Education Trust, Mumbai. He pursued graduation from Mithbai College, Juhu. Later, he pursued MBA specialized in Marketing from College of Commerce and Economics, Syndenham. He received his masters degree in 1997. The college was distantly located from his house, around 30km distance.

    Ashish Hemrajani – Professional Life

    After completing MBA, he started his career working with the J. Walter Thompson company. He was responsible for account management and client management of the company. He went for a vacation to South Africa with his friends. He was motivated enough to start his own bussiness. Later, he founded a company Bigtree Entertainment in 1999. The company later launched its portal BookMyShow for booking tickets online.

    How Does BookMyShow Make Money?
    BookMyShow is currently India’s largest online entertainment ticketing platform
    spread across 5 countries and operating in almost 60 cities. It was earlier running under the brand of Big Tree Entertainment Pvt Ltd. BookMyShow was founded by Ashish, Parikshit and Rajesh in the year 1999. It
    initial…
    StartupTalkyDevashish Shrivastava

    Ashish Hemrajani – Success Story

    The idea of making an online ticket booking venture originated when he was listening to a radio program about Rugby ticket promotion. At that very time, an idea struck into his mind and he started investing his time and effort to build an online ticket booking services in India. He convinced two of his friends to quit their current job and help him in making his dream project a success in India. At that time, he was 24 and both his friends agreed to help him in his startup. In 1999, all three friends, Parikshit Dar, Rajesh Balpande and Ashish Hemrajani founded the company, Bigtree Entertainment Pvt. Ltd. The company faced many ups and downs, but Ashish as the CEO of the company stood against all the 0dds, until his venture escorted favorable outcomes. Multiplexes, a New Zealand based software company developed the first ticket selling software of BookMyShow. Bigtree Entertainment further launched BookMyShow, which started selling movie tickets through telephone and internet since 1999. There were no online payment systems available at that time in India. Thus the tickets were delivered to nearby places.

    Ashish Hemrajani – Bigtree Entertainment

    After the launch of Bigtree Entertainment, the company did not grew instantly but it has received admiration from the people gradually. The struggle phase of the company longed for years. This is because of the website based business globally and people were not familiar enough with the internet those days. Eventually the number of employees were reduced to be safe from the certainty of severe financial crisis. Ashish had a bumpy ride at the company but the phase passed gradually. He had a belief that the power of the internet would come one day and his idea will be applauded some day.

    The company entered the pleasant phase when it has received its first investment of Rs.2.5 Crore from J.P Morgan which ascribed the company to grow. The company started selling tickets for multiplex companies in India.

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    Ashish Hemrajani – BookMyShow

    On February 21, 2017, the parent company, Bigtree Entertainment officially launched BookMyShow.com and quickly expanded its operations to sell tickets online for movies, sports, events, concerts, etc. Though it was a tough time to gain online presence, Ashish managed to hold his patience with sincere efforts. BookMyShow also provided the feature to buy tickets of sports matches like IPL, ISL, etc.

    With the increase in the use of credit and debit cards, the growth in multiplex was thriving. The tickets were readily available at BookMyShow. People used the website and mobile application of BookMyShow to buy tickets conveniently. The online ticketing platform has erased the problem of longing for your turn while standing in the queue.

    The company has expanded its ventures in foreign countries as well. The net worth of BookMyShow counts to Rs 3000 crore today. In 2017, BookMyShow made a deal with PVR worth Rs 1000 crore to sell the unsold tickets online. This deal helped them in engrossing profits and attention. The company now employs over 400 people in offices in Mumbai, Delhi, Hyderabad, Chennai, Bangalore.

    BookMyShow has launched BookMyShow Stream on February 5, 2021. It will serve as an online platform to watch movies under the Transaction Video-on-Demand (TVOD) model, which will help the company keep pace with the latest movie releases and also aid in their battle against the coronavirus woes.

    On June 10, 2021, BookMyShow had to lay off 200 employees due to the second wave of the COVID-19-induced lockdown, which has further hit the company, compelling it to take such a step. Ashish Hemrajani has expressed his grief on parting from these employees on his Twitter handle and is also seeking outplacement for all of them.


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    BookMyShow is India’s largest ticketing website. Read on to know more about BookMyShow’s story, founders, business and revenue model, acquisitions, valuation, net worth, and funding. Learn more from Bookmyshow wiki.
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    Ashish Hemrajani – Controversy

    The authorities are investigating BookMyShow for allegedly helping with illegal ticket resales of the Coldplay concert scheduled for January 18, 19, and 21 of 2025 in Navi Mumbai, India.

    Ashish Hemrajani, and technical head have been called in by the Mumbai Police after tickets that cost INR 2,500 were being sold for up to INR 3 lakh. A lawyer filed a complaint saying this was a fraud. The police are looking into it, as reselling tickets for higher prices is against the Maharashtra Entertainment Act.

    In response, the police filed an FIR based on BookMyShow’s complaint, which names 30 suspects involved in selling fake tickets or reselling them at inflated prices, including individuals and websites like Viagogo. The FIR was filed by Pooja Mitra, the legal manager at BookMyShow, part of Big Tree Entertainment.

    Ashish Hemrajani – Awards

    Ashish Hemrajani Awards

    Ashish Hemrajani won the esteemed “Executive of the Year 2018” at The Ticketing Business Awards held at Emirates Old Trafford, Manchester, England. The award is the recognition of his progressive and visionary leadership, which has changed the history of booking tickets.

    Ashish won the prestigious BW Applause Person of The Year Award in 2019 for his outstanding contribution in the events and experiential domain in the 2nd edition of the award ceremony conducted at the Eros Hotel, New Delhi.

    FAQs

    Who is Ashish Hemrajani?

    Ashish Hemrajani is the founder and CEO of BookMyShow.

    What is Ashish Hemrajani age?

    Ashish Hemrajani is 45 years of age. He was born in 1975.

    What is Ashish Hemrajani education?

    Ashish Hemrajani pursued graduation from Mithbai College, Mumbai. Later, he pursued MBA specialized in Marketing from College of Commerce and Economics, Syndenham.

    Who is Ashish Hemrajani wife?

    Nilima Hemrajani is the wife of Ashish Hemrajani.

    What is Ashish Hemrajani net worth?

    BookMyShow founder, Ashish Hemrajani net worth is INR 3000 crore (2024).

    Who is BookMyShow Owner?

    Bigtree Entertainment is the owner of BookMyShow.

  • 15 Profitable Black Friday Ideas for Small Businesses in 2024

    So, it is that time of the year again.

    Times when businesses of all shapes and sizes assemble to woo customers with deals that just bring a smile to their face. Times when no matter which industry you belong to, just being on the internet makes you a part of the celebration – the amalgamation of festivities, revenues, sales, numbers, growth, validation, and whatnot! Yes, we are talking about the Black Friday-Cyber Monday Season that marks the arrival of fresh opportunities for businesses around the globe but pushes the possibilities to a whole new level for the ones leveraging the internet to make something meaningful in terms of their business.

    Black Friday is an incredible opportunity for small businesses to boost their sales and attract new customers. With the right strategies and planning, you can make the most out of this holiday shopping season. In this comprehensive guide, we will explore black friday sale ideas for small businesses to help your small business thrive on Black Friday. These Black Friday tips start with offering early bird discounts, using social media to spread the word, and creating exciting bundles to attract more customers.

    Black Friday Online Sales from 2013 to 2023 with Projection for 2024-2025
    Black Friday Online Sales from 2013 to 2023 with Projection for 2024-2025

    Setting the Stage for Success

    Promotion Strategies for Black Friday

    Engaging Customers Online

    Extending the Black Friday Momentum

    Setting the Stage for Success

    Before diving into the specific tactics, it’s important to lay a solid foundation for your Black Friday campaign. This section will cover essential steps to prepare your business for the big day.

    Analyze Your Inventory and Identify Best-Selling Products

    To effectively plan for Black Friday, you must understand your inventory and identify your best-selling products. Analyze your sales data from previous years and determine which items have consistently performed well during this time. This will help you prioritize your promotions and ensure you have enough stock to meet the increased demand.

    Optimize Your Online Store

    At a time when the world moves on the internet, having a strong online presence is crucial for small businesses. Make sure your website is optimized for a seamless shopping experience. Conduct a thorough review of your website’s performance, load times, and user interface. Consider investing in a reliable hosting provider to handle the increased traffic on Black Friday.

    Create Compelling Product Bundles

    One effective strategy to entice customers is by creating product bundles. Pair related items together and offer them at a discounted price. This not only increases the perceived value for customers but also helps you move slower-selling products. Use enticing marketing copy and high-quality images to showcase the value of your bundles.

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    Promotion Strategies for Black Friday

    Now that you have set the stage, it’s time to focus on promoting your Black Friday deals. In this section, we will explore various strategies to generate buzz and attract customers to your business.

    Leverage Social Media Platforms

    Social media platforms like Facebook, Instagram, and Twitter are powerful tools for reaching your target audience. Create a dedicated event on Facebook and use paid promotions to boost its visibility. Regularly post on Instagram and Facebook stories to keep your followers engaged. Share comments and pictures in the event itself to entice customers. Consider creating a Black Friday reel and a highlight on Instagram to showcase your deals.

    Run Exclusive Sales and Giveaways

    To create a sense of urgency and excitement, consider running exclusive sales and giveaways. Offer limited-time doorbusters for the first customers, rewarding them with swag bags or special discounts. Create special collections on your website with sale items and bundles. Run a giveaway where anyone who purchases on Black Friday is entered for a chance to win a desirable prize.

    Collaborate with Other Businesses

    Join forces with complementary small businesses in your local community to create a destination shopping event. Cross-promote each other’s deals and products to reach a wider audience. For example, clothing brands can consider organizing a fashion show with holiday looks or even an ugly sweater contest. They can collaborate with a local designer to go live on social media and cross-promote each other’s products.

    Enhance the In-store Experience

    Not all Black Friday shoppers go online—around 30% still shop in stores. To attract them, decorate your store with Black Friday displays, and offer free drinks, giveaways, or fun contests. Focus on giving great customer service. Even if they don’t buy, a good first impression can bring them back.

    Early Access for VIPs

    Give your loyal customers early access to your Black Friday deals. Send a special email or hold a private event to let them shop before everyone else. This makes them feel appreciated and excited. You can also show them new or limited-time products that won’t be available after Black Friday.

    Work with Influencers for User-generated Content

    Boost your Black Friday social media by partnering with influencers. These creators share fun content and promote products to their followers, who trust their recommendations. Many people base purchases on what they see online, so offering your own content is a great way to engage with them.

    Engaging Customers Online

    Amidst all the competition and the battle for retention, it’s essential to engage with your customers online. This section will cover strategies to maximize your online presence and drive sales on Black Friday.

    Email Marketing Campaigns

    Email marketing is a powerful tool for reaching your existing customer base. Segment your email lists based on past purchase history and create personalized campaigns targeting specific shoppers. Write engaging subject lines and create a Black Friday poster that motivates customers to take action. Encourage customers to share your emails with their friends to build anticipation and broaden your audience.

    Live Sales and Trivia Nights

    Host live sales on platforms like Facebook or Instagram to create a sense of urgency and excitement. Showcase your products, offer exclusive deals, and interact with your audience in real-time. Consider hosting a Black Friday trivia night where you share interesting facts about Black Friday’s history and offer special discounts to participants.

    Charitable Initiatives

    Engage with your customers by incorporating charitable initiatives into your Black Friday promotions. For every sale made on Black Friday, donate a portion of the proceeds to a local charity or a cause that resonates with your target audience. Highlight these initiatives in your marketing materials to inspire customers to support your business and the community.

    Extending the Black Friday Momentum

    Black Friday doesn’t have to end on Friday. In this section, we will explore strategies to extend the momentum and keep customers engaged beyond the initial shopping frenzy.

    Small Business Saturday

    Take advantage of Small Business Saturday, which falls on the day after Black Friday. Promote your business as a local and independent retailer, emphasizing the personalized experience and unique products you offer. Consider offering exclusive deals or incentives to customers who shop with you on Small Business Saturday.

    Cyber Monday and Beyond

    Don’t forget about Cyber Monday, the online counterpart to Black Friday. Extend your promotions and discounts to the online space and continue engaging with your customers through email marketing, social media, and website banners. Consider offering exclusive deals for Cyber Monday to incentivize online purchases.

    Post-Black Friday Follow-Up

    After the shopping frenzy subsides, it’s important to follow up with your customers. Send personalized thank-you emails, asking for feedback and encouraging them to share their positive experiences on social media. Consider providing incentives for customers who write reviews, like offering them discounts on future purchases.

    Conclusion

    Black Friday presents an incredible opportunity for small businesses to boost sales and attract new customers. By setting the stage for success, promoting your deals effectively, engaging customers online, and extending the momentum beyond Black Friday, you can maximize your sales and create a memorable shopping experience. Best Black Friday deals for small businesses include discounts, bundles, and early access to holiday sales to attract and reward customers. Don’t forget to make the most of these days to amplify your small business’s reach further. With careful planning, strategic marketing, and a customer-centric approach, this Black Friday can be the most successful one yet for your small business.

    FAQs

    How can Black Friday sales be maximized?

    By promoting deals effectively, engaging customers online, and extending the momentum beyond Black Friday, you can maximize your sales and create a memorable shopping experience.

    How do Email marketing campaigns help you boost your Black Friday sales?

    Email marketing helps in reaching the existing customer base. Write engaging subject lines that motivate customers to take action. Encourage customers to share the emails with their friends to build anticipation and broaden your audience.

    What are the strategies to extend the momentum of Black Friday and keep customers engaged beyond the initial shopping frenzy?

    The strategies to extend the momentum and keep customers engaged beyond the initial shopping frenzy include small business Saturday, Cyber Monday and beyond, and the post Black Friday follow-ups.

  • The Bhavish-Kamra Saga: A Tweet That Cost Ola Chief & the Company INR 3500 Crore

    In the times of social media skirmishes, few battles get as heated — and as public as the recent spat between Ola CEO Bhavish Aggarwal and comedian Kunal Kamra. Over the weekend, this unlikely duo locked horns in a now-viral exchange that quickly spiraled into a full-blown public relations disaster for Ola Electric, costing the company dearly — not just in market value but also in customer trust.

    How It All Started: Kamra’s Call to Action

    It all kicked off with a simple tweet from Kunal Kamra, who, in true comic fashion, used his platform to bring attention to Ola Electric’s service issues. Sharing a photo of an Ola showroom, Kamra raised a rather critical question: “Do Indian consumers have a voice? Do they deserve this?” His tweet highlighted how daily wage workers — many of whom rely on two-wheelers like those Ola manufacturers — were left in the lurch by the company’s poor after-sales service. Kamra tagged government officials, including Minister of Road Transport Nitin Gadkari, to amplify the issue.

    Kamra’s concerns were not entirely unfounded. Ola Electric’s customer service has long been a point of contention, with many users complaining about subpar service centers, delayed responses, and a lack of resolution for faulty electric vehicles (EVs). But instead of addressing these criticisms head-on, Bhavish Aggarwal decided to take a different route.


    Bhavish’s Response: Sarcasm over Solutions

    Aggarwal’s response came swiftly — and sharply. Rather than engaging with the substance of Kamra’s tweet, Aggarwal chose to dismiss it as a “paid post,” insinuating that Kamra had been compensated to criticize Ola. “Find some real work,” he wrote, taking a jab at Kamra’s career, adding that if Kamra was so concerned about Ola’s services, he could work for the company instead. Aggarwal’s sarcasm reached new heights when he further mocked Kamra, saying, “Chot lagi? Dard hua? Aaja service center. I will pay better than your flop shows pay you.”

    While one might argue that sarcasm has its place in social media banter, this wasn’t one of those moments. The fact that Aggarwal, the CEO of a billion-dollar company, chose to mock a comedian rather than address legitimate customer concerns sent ripples through the internet — and not the good kind.

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    Kamra Claps Back: Enter ‘Olan Musk’

    Of course, Kamra, known for his acerbic wit, wasn’t about to let Aggarwal off the hook. In his response, the comedian took another swing, this time labeling Aggarwal as “Olan Musk” — an obvious jab at Aggarwal’s perceived likeness to Elon Musk, who is equally famous for his confrontational social media presence. Kamra doubled down on his criticisms, calling out Ola’s lack of accessible service centers and inadequate customer support, further stoking the fire of customer frustration.

    While Kamra’s retort had the internet in splits, the real losers in this spat were Ola Electric’s customers. As Kamra pointed out, many of them have faced long-standing issues with refunds, repairs, and basic service. Instead of offering a roadmap to fix these problems, Aggarwal’s reaction only seemed to confirm that customer grievances were not a priority for the company.

    On October 17, 2024, Kunal Kamra once again took a dig at Ola Electric, this time going after their mysterious silence on customer complaints and refunds. Kamra, always ready with a sharp one-liner, pointed out the glaring absence of any concrete plan from Ola to resolve the ongoing grievances. Taking to X (formerly Twitter), Kamra quipped, “Ola Electric hasn’t disclosed any plan to issue refunds or put an end date to current customer complaints. We don’t even know if there is a plan…”

    But he didn’t stop there. Kamra added another punchline directed straight at Ola’s CEO Bhavish Aggarwal, humorously urging him to step up his game with a little less Kunal involvement. “All I can do is let @bhash know that he has to put out a public plan that doesn’t include employing me,” he joked, keeping the banter alive.

    It seems Kamra’s light-hearted yet biting commentary is here to stay in this saga. Whether or not Bhavish takes him up on that job offer, one thing’s for sure: the comedian’s trolling game isn’t going electric anytime soon.


    The Consumer Outcry: Ola Electric’s Reputation Takes a Hit

    The aftermath of the exchange wasn’t just limited to witty one-liners on Twitter. In fact, Kamra’s tweets opened the floodgates for other disgruntled customers to voice their frustrations. Many shared their own experiences with Ola’s lackluster customer service, turning the online spat into a digital referendum on Ola Electric’s ability to provide reliable post-purchase support.

    Netizens pointed out that for many Indians, especially those who rely on two-wheelers for their livelihoods, a malfunctioning scooter is no small inconvenience. For daily wage workers, an unreliable EV can mean lost income and missed opportunities, making the stakes far higher than just the inconvenience of waiting for repairs.

    Amid the outcry, one Twitter user, Aditya Shah, added fuel to the fire by sharing screenshots that purportedly showed Ola Electric’s involvement in a paid influencer campaign. Shah claimed that multiple influencers had been approached to post positive tweets about Ola Electric’s products just a month earlier, making Aggarwal’s accusation of Kamra being a “paid critic” seem especially hypocritical.

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    The Financial Fallout: INR 3500 Crore Problem

    If this were just another social media spat, it might have blown over with little impact. But for Ola Electric, the consequences were far more tangible. The company’s stock took a nosedive in the days following the exchange, dropping by 8% on Monday (October 7, 2024) after Kamra’s viral tweets. This marked the company’s third consecutive day of losses, bringing the total market value loss to INR 3500 crore — a staggering amount for any company, let alone one still trying to cement its place in the highly competitive EV market.

    Ola Electric's Financial Fallout
    Ola Electric’s Financial Fallout

    Investor sentiment, already shaky due to broader market conditions and the ongoing Israel-Iran war, took a further hit. The public perception of Ola Electric, already marred by service complaints — was now compounded by the CEO’s inability to handle criticism constructively.

    As many finfluencers pointed out on LinkedIn, Bhavish Aggarwal’s decision to engage in a public feud instead of focusing on improving his company’s services only exacerbated the damage to Ola Electric’s reputation. Investors, it seems, are losing confidence in the company’s leadership — and for good reason.

    The Bigger Picture: Can Bhavish Handle the Heat?

    Bhavish Aggarwal’s response to Kamra’s criticism raises a larger question: can he handle constructive criticism? In the startup scenes, where customer feedback is king, a CEO’s ability to listen, adapt, and improve is crucial to long-term success. Aggarwal’s decision to dismiss Kamra’s legitimate concerns — and by extension, the concerns of thousands of Ola Electric customers suggests a troubling lack of humility.

    For a company like Ola Electric, which is positioning itself as a leader in the EV revolution, customer trust is everything. With increasing competition from players like Ather Energy, Bajaj Auto, and Hero Electric, Ola can’t afford to alienate its customers — especially not with a public spat that reinforces the perception of poor service.

    What’s Next for Ola Electric?

    Ola Electric is now under even greater scrutiny, not just from customers but from regulatory authorities as well. The Central Consumer Protection Authority (CCPA) has already issued a show-cause notice to the company for violating provisions of the Consumer Protection Act, 2019. With allegations of service deficiencies, misleading advertisements, and unfair trade practices, the company faces the possibility of legal action if it fails to provide an adequate response.

    Meanwhile, Bhavish Aggarwal might want to rethink his approach to social media. While Elon Musk has turned his Twitter antics into a personal brand, Bhavish’s attempts at mimicry have backfired, costing his company both financially and reputationally.

    As the Bhavish-Kamra saga continues to unfold, one thing is clear: when it comes to customer feedback, the last thing a CEO should do is mock the messenger. After all, in the age of social media, every tweet counts — sometimes to the tune of INR 3500 crore.

    FAQs

    Who is the CEO of OLA Electric?

    Bhavish Aggarwal is the CEO of OLA Electric.

    What is the price of OLA Electric shares?

    The shares of OLA Electric fell 8.31% to close at INR 90.82 on the BSE. This decline came a day after founder and CEO Bhavish Aggarwal had a public disagreement with stand-up comedian Kunal Kamra regarding widespread service issues impacting many Ola electric scooter owners.

    What are the challenges faced by Bhavish Aggarwal after his dispute with comedian Kunal Kamra on Twitter?

    Aggarwal is now under scrutiny following his dispute with Kamra, which has ignited a broader conversation about professionalism and the appropriate handling of customer complaints.

  • Breaking into Tier-2 and Tier-3 Markets: A Growth Strategy for Startups

    This article has been contributed by Mr. Amit Bansal, CEO, Solv.

    For the last decade, India has shown proven to have great potential as the global startup hub with emerging entrepreneurs across the country. Though the metropolitan cities of Delhi, Mumbai, and Bangalore remain to be the startup hubs, the Tier 2 and Tier 3 cities have huge scope as untapped markets. One of the most frequent but very important questions entrepreneurs in today’s highly competitive startup scene ask themselves is: how does their business scale beyond Tier-1 cities which are just so saturated? While the Tier 2 and Tier 3 cities are rapidly growing momentum for new business opportunities, India’s Tier-1 metropolises have traditionally been the center of consumer demand and technological innovation. In India over 60% of the population is from Tier-2 & Tier-3 cities, which shows the immense untapped potential they have. Reaching out to such markets can redefine businesses looking to scale. MSMEs have emerged as the backbone of the economy by generating jobs, innovative ideas, and inclusive growth-all of which form the crucial aspects driving overall productivity. 

    The Changing Landscape of Tier-2 and Tier-3 Markets

    Better internet access, increased disposable incomes, government initiatives, and the ambitions of a growing middle class are driving migration to Tier-2 and Tier-3 cities. According to estimates by RedSeer Consulting, India’s Tier-2 and Tier-3 towns would constitute as much as 60% of all new online customer acquisition by 2025. Consumers in small towns, rather than being mere passive media consumers, have taken an active role in the digital economy of India. Furthermore, a report issued by NASSCOM in 2023 has disclosed that the consumption behavior of these smaller cities is changing at rapidly. The year-on-year growth of digital services and products, starting from online commerce to fintech, was witnessed at 45% in Tier-2 cities and 30% growth in Tier-3 towns. Such places are undergoing fast-paced changes for new-age banking, shopping, or how one relates with brands; hence, this is an area where startups can thrive immensely. 

    Why Startups Should Target Tier-2 and Tier-3 Markets

    Lower Competition, More Opportunities

    The Tier-2 and Tier-3 cities provide less competition compared to the metropolitan markets. For the metro cities there’s a constant challenge to grow the customer market share, with established peers dominating much of the sector in terms of customer footfall. In contrast, smaller cities present relatively untapped potential.

    Lower Costs of Customer Acquisition

    Lower customer acquisition costs (CAC) can be one of the answers for startups in Tier-2 and Tier-3 cities. A study by BCG shows that acquiring customers in smaller cities is 40-50% cheaper in Tier-1 cities. This is mainly because of lower media and advertising expenditure along with more flexible pricing and less competition.

    Increasing Disposable Income and Aspirations

    A report by McKinsey states that disposable incomes of people staying in Tier-2 and Tier-3 cities have been rising at a faster rate than in metros, as more jobs and industries are shifting to smaller towns. These towns, in which middle class is on an upsurge, also witness a spending spurt in aspirational products and services of any form-be it e-commerce, fintech, or edtech.

    Government Push Towards Inclusive Development

    Initiatives such as “Digital India” and “Smart Cities Mission” have spurred growth in these regions. According to the report by the Ministry of Electronics and Information Technology, the push in digital infrastructure has increased internet access and enabled easy entry for more digital startups. Additionally, the Pradhan Mantri Awas Yojana (PMAY) has experienced higher home ownership in the regions and is enhancing the consumption patterns of goods and services.

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    Strategies for Entering Tier-2 and Tier-3 Markets

    Startups should strategically position their business in Tier 2 and Tier 3 cities because the needs, behavior, and expectations of consumers have a stark difference than the metro populations. Therefore, the only way to deal with this variance is a tailored approach.

    1. Localization of products and Services

    Hyper localization should be the focus for the startups to reach the unique preferences and needs of Tier-2 and Tier-3 consumers. For instance, affordable e-commerce platforms have totally changed the way people shop in small towns by catering to customers looking at price-consciousness by offering low-cost products with affordable payment options. Supporting regional languages, adjusting the pricing strategy, and offering localized products or services makes market penetration and customer engagement much better.

    2. Building Trust through Offline Channels

    In smaller cities, consumers usually depend on word-of-mouth suggestions and personal rapport. Having omnichannel strategy-a strategy that includes both online and offline touchpoints-helps startups gain credibility. Building strong relationships with local vendors is highly effective for gaining widespread adoption in the regions. Operating small customer support centers, collaborating with influencers, and organizing community events further help build relationships and earn the trust of consumers.

    3. Partner with Local Entrepreneurs

    Most firms that succeed, tap into these markets via joint ventures with local entrepreneurs who are keenly aware of the going-on dynamics in their respective regions. Local partners can play vital roles in distribution, marketing, and after-sales services, all of which are important for establishing presence in these regions. 

    4. Regional Orientation of Marketing Campaigns

    Policies that work in metro cities may not work as effectively in Tier-2 and Tier-3 cities. Localised marketing efforts with regional language, local content has to be the focus for start-ups. Regional language-specific platforms are avenues where start-ups can uniquely engage and connect with consumers in Tier-2 and Tier-3 cities.

    5. Affordability and Accessibility

    Affordability has to be a criterion for start-ups entering these markets. Consumers in Tier 2 and Tier 3 cities are extremely price-sensitive, and premium pricing strategies that generate great value in metro are unlikely to excel in these regions. Mass adoption will be driven by EMIs, BNPL (Buy Now, Pay Later), and lower-ticket offerings. The leading e-commerce companies, with their affordable prices, localized products, and flexible modes of payment, including cash on delivery and installment plans, has allowed them to capture significant market share in these regions. 

    As India continues to evolve in various sectors and as an economy, the real growth potential lies beyond the metros. Tier 2 and Tier 3 geographies have great opportunities that can be tapped by startups through embracing hyper-localization, fostering trust through offline connections, leveraging local partnerships, and focusing on affordability. The key is to develop strategies that are tailored to meet the needs of these consumers. Tier-2 and Tier-3 cities have evolved as the new frontier of growth, waiting to be adapted and invested in for startups who are willing to evolve and be at par with the metro cities.

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  • Jio Financial and BlackRock are in Discussions to Launch a Private Lending Business

    According to various media reports, BlackRock Inc., the largest asset manager in the world, is in talks to establish a private credit venture with billionaire Mukesh Ambani’s Jio Financial Services Ltd., with the goal of taking advantage of the growing direct lending opportunities in India.

    This 50-50 joint venture will provide loans to startups as well as established enterprises. Should the parties choose to move forward, this will mark the third endeavour between the New York-based company and the firm owned by the wealthiest Asian, following their partnership to launch asset management and stock broking operations in the nation.

    India is the Centre Spot for Private Credit in Asia

    Due to the rising financial requirements of local businesses, international organisations such as Apollo Global Management, Cerberus Capital Management LP, and Varde Partners have increased their operations in India, which has been a bright area for private finance in Asia. According to an EY evaluation, private credit investments in the South Asian country surged to a record $6 billion in the first half of 2024. According to financial experts, there is still room for debate, and the corporations may decide against moving forward with the cooperation. 

    Since the global financial crisis, the $1.7 trillion private loan market has expanded rapidly, and lenders like Blackstone Inc. are pursuing development in countries like India. According to Celia Yan, BlackRock’s head of APAC private credit, who spoke with reporters last month, there are opportunities in India to lend to both young entrepreneurs funding start-ups and major corporations with several branches.

    BlackRock Expansion Plan in India

    BlackRock Inc. has signed a five-year lease to take over 42,700 square feet of office space in a posh commercial skyscraper in central Mumbai’s Worli neighbourhood as part of its expansion into India. During the first year of the lease, Blackrock Services India, the financial institution’s India branch, would pay a monthly rate of INR 325 per square foot. A provision to increase rentals by 5% in April 2025, 10% annually thereafter, and 5% in each of the next two years is included in the agreement.

    The corporation, with its headquarters in New York, has taken a direct lease from K Raheja Corp., the project developer, for the space located on the fourth floor of the commercial tower Altimus.

    Office space purchases are being driven by new infrastructural connectivity in and around Worli, which is drawing companies looking for contemporary facilities and improved accessibility. For instance, the neighbourhood is becoming increasingly attractive to businesses, especially multinationals seeking to locate offices in prominent locations with greater amenities, with the completion of the Mumbai Trans-Harbour Link (MTHL) and the future metro network.

    With a large presence in India, BlackRock hopes to get access to the nation’s quickly expanding financial markets. BlackRock was founded in India in 2008 and provides institutional and individual clients with investment solutions such as mutual funds, exchange-traded funds (ETFs), and portfolio management services. Its offices are located in Bengaluru, Gurgaon, and Mumbai.

    Strong market fundamentals and resilience to global issues have allowed the Indian office sector to increase in demand despite the slowdown in the global economy.

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  • “We are Committed to Providing the People of India with the Highest Quality of Service we can”- Musk

    Elon Musk applauded the Indian government’s choice to utilise an administrative process instead of an auction to distribute satellite broadband spectrum. Starlink, Musk’s satellite internet startup, is expected to benefit from this action as it eliminates the need for competitive bidding to obtain spectrum in the nation.

    Jyotiraditya Scindia, India’s Minister of Telecom, stated at a New Delhi event that the telecom regulator will decide pricing and that spectrum allocation will take place administratively. Scindia stressed that this strategy is in line with global norms, saying, “If you do decide to auction it, then you will be doing something that is different from the rest of the world.”

    The choice was made in the midst of discussion about how satellite spectrum should be distributed in India, which is essential for the launch of satellite-based internet services there.

    Musk stated on X (previously Twitter) that he will try his hardest to use Starlink to help the people of India. In addition, he observed that the International Telecommunication Union (ITU), a United Nations agency responsible for satellite communications, has long designated this form of spectrum for shared use among satellite operators and that an auction for the spectrum would be unprecedented.

    Reliance Still Pushing for Auction

    Even if Musk’s Starlink is in favour of administrative allocation, India’s telecom behemoths are against the move. The billionaire Mukesh Ambani’s company Reliance had previously contested the regulatory consultation procedure, claiming that an auction is required to guarantee fairness. They think satellite companies, particularly those hoping to service affluent urban areas, ought to buy spectrum just like regular telecom companies.

    The auction approach was also supported by Sunil Mittal, the chair of Bharti Airtel and co-chair of Eutelsat. Speaking at the event in New Delhi, Mittal stated that satellite businesses that want to enter the urban market should purchase spectrum in the same way that telecom companies do.

    The ITU’s criteria for shared spectrum allocation for satellites are widely adhered to globally, thereby endorsing the position of Musk and other satellite operators. But domestic telecom giants like Airtel and Reliance are worried about keeping the playing field equitable. They contend that, given the rising demand for satellite internet services in cities, auctioning will bring justice and transparency to the distribution of spectrum.

    OneWeb, an Airtel-partnered subsidiary of Eutelsat, had also voiced requests in its representations to the Indian government earlier in 2023 regarding the auctioning of satellite spectrum. Global satellite providers, such as Starlink and Amazon’s Project Kuiper, meanwhile, maintain their support for administrative distributions since they see spectrum as a common resource.

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