According to recent media reports, WhatsApp is expected to receive an order from the Indian watchdog for fairness in trade practices for breaking the nation’s competition laws.
The Competition Commission of India (CCI) has expressed its displeasure over a controversial amendment to WhatsApp’s privacy policy and service terms. The media reports further stated that a penalty can also be part of the CCI order.
With its contentious 2021 update, WhatsApp would be able to share specific user data with its parent company, Meta Platforms Inc. (previously Facebook Inc.). Regulators around the world were agitated by this. According to various media reports, WhatsApp and its parent company Meta violated the anti-abuse of dominance rules of competition law, according to the director general of investigation (DG) of the Competition Commission of India (CCI).
Who is Competition Commission of India?
The Competition (Amendment) Act of 2007 revised the Competition Act of 2002, keeping it consistent with the principles of contemporary competition law. Anti-competitive agreements, the misuse of a dominant position by businesses, and mergers and acquisitions (M&A) that have the potential to significantly harm competition in India are all prohibited by the Act.
With effect from October 14, 2003, the Central Government formed the Competition Commission of India, which is responsible for implementing the Act’s goals. The Central Government designates a minimum of two and a maximum of six Members to the Commission, in addition to the Chairperson.
The Commission’s responsibilities include eradicating anti-competitive behaviours, fostering and maintaining competition, safeguarding consumer interests, and ensuring free trade in Indian markets. In addition, the Commission advocates for competition, raise public awareness of competition issues, and provide training on competition issues in response to a referral from a governmental entity created by any law.
Director General of Investigation’s Report
Various media reports further stated that the CCI has reviewed the DG’s report and is currently working on a draft order that will be issued to the two corporations shortly, imposing penalties for the alleged infractions.
Citing sources, the newspapers stated that the CCI has determined that WhatsApp‘s sharing of user business transaction information with Meta gives the group businesses an unfair edge over rival platforms.
“We are unable to comment on the CCI proceedings because they are under appeal.” According to an official statement from WhatsApp, users who opted not to accept the Privacy Policy Update can still use the app to interact with friends and family without having their accounts cancelled or losing functionality.
After operating the firm for almost 3.5 years, Toplyne, a provider of sales automation systems, has decided to wind down and return funds to its investors.
Having spent 3.5 years developing Toplyne, company has decided to sell the company and give its investors their money back. Company’s greatest attempts failed to achieve the scale or product-market fit that it desired, Rishen Kapoor, a co-founder of the company, revealed on LinkedIn. Approximately 30 people made up the squad, according to Kapoor.
The 30 person team, comprising sales, customer success, machine learning, product, design, HR, and engineering, all put in their all. He said, “The company’s priority right now is on assisting its clients to guarantee a smooth transition and helping its team members find their future employment (if anyone is hiring, please reach out).
Series A Funding
The company announced in May 2022 that Tiger Global and Peak XV (formerly Sequoia Capital India) had led a $15 million Series A investment round. Participating in the round were the Together Fund, Sequoia India’s Surge accelerator program, and additional angel investors. Rishen Kapoor, Ruchin Kulkarni, and Rohit Khanna founded Toplyne in June 2021. The company’s focus is on assisting product-led growth (PLG) companies in converting users into paying clients.
Current Startup Scenario In India
Among recent startup closures, Toplyne is the most recent. Over the past several months, several startups have failed, including the insurtech business Kenko Health, the upskilling and job-finding platform Bluelearn, the social media app Koo, the artificial intelligence-driven software startup Nintee, and the spiritual tech venture My Tirth India.
The fact that Indian entrepreneurs have had fewer job losses in the first half of 2024 is intriguing. It presents a positive image of the labour market and demonstrates their adaptation and endurance in the face of shifting economic conditions. Both the government and the industry have welcomed this news, which is much-needed after the record-breaking layoffs of 2023.
According to a Longhouse Consulting analysis, in the first half of 2024, startups saw fewer employment losses than they did in the same period the previous year. Startups eliminated around 11,250 jobs between January and June of 2024, a far smaller number than the 21,000 positions eliminated at the same time in 2023. Even during the second half of 2023, which ran from July to December, there were only about 15,000 layoffs at startups overall.
In addition to layoffs, hiring patterns for Indian companies were also emphasised in the research. Hiring levels in the first half of 2024 are still 35–40% lower than in 2021–2022. On the plus side, hiring has increased from the dismal year of 2023, when it was roughly 60–70% less than the previous fiscal year.
We all want to ace at customer support, experience and productivity – and there is no doubt about that. If you are someone on the same boat, we have some good news! Chatbot builders might just be the game-changer you need. These innovative tools are transforming the way businesses interact with their customers, providing round-the-clock support and personalised experiences. With the right chatbot builder, you can automate routine tasks, free up your team’s time, and create memorable interactions that keep your customers coming back for more. You’ll get to know how these tools can help you build chatbots that not only answer questions but also guide customers through complex processes, gather valuable insights, and even close sales.
HubSpot‘s chatbot builder is a powerful tool that can revolutionise your customer interactions. It allows you to create automated chat services that integrate seamlessly with your current CRM systems. You can set up chatbots to qualify leads, book meetings, and create support tickets, all without human intervention. One of the standout features is the ability to create task-specific bots that guide visitors through a predefined sequence of questions. This helps you gather essential information about your visitors before your team takes over the conversation. For those with more advanced needs, HubSpot offers conversational AI that can provide human-like responses using a knowledge base.
The chatbot builder is incredibly user-friendly, with a visual interface that makes it easy to design your bot’s conversation flow. You can customise your bot’s welcome message, add various actions like asking questions or setting property values, and even create if/then branches to determine the flow of the conversation.
HubSpot Pros and Cons
Pros:
Free forever plan with essential features
User-friendly interface
Seamless integration with HubSpot’s CRM and other tools
Extensive range of features for marketing, sales, and customer service
Simple integrations with over 1,500 apps and web services
Cons:
The interface can be restrictive for complex chatbot flows
Better suited for businesses already using the HubSpot ecosystem
Limited customisation options in the free plan
Advanced features only available in higher-tier plans
HubSpot’s chatbot builder is an excellent choice for businesses looking to automate customer interactions and streamline their support processes. Its integration with HubSpot’s wider suite of tools makes it particularly valuable for companies already using or planning to use HubSpot’s CRM and marketing automation features. While it may have some limitations, the free plan offers a great starting point for businesses to explore the benefits of chatbots without any financial pressure.
Manychat is a powerful chatbot builder that can revolutionise your business by automating conversations across multiple platforms. This tool allows you to create engaging chatbots for Instagram, WhatsApp, and Facebook Messenger, helping you boost sales and conversions.
One of Manychat’s standout features is its ability to handle Instagram Direct Messages. Your chatbot can automatically respond to questions, comments, and story replies 24/7, attracting more leads and driving higher conversions. Similarly, on WhatsApp, you can set up automation to help customers discover products, retrieve order information, and get customer support – all without your constant attention. The Facebook Messenger integration is equally impressive. You can automate conversations to generate leads, answer FAQs, and run marketing campaigns effortlessly. This multi-channel approach ensures you’re always available to your customers, no matter where they prefer to interact.
Manychat’s lead generation capabilities are particularly noteworthy. The platform allows you to capture email addresses and phone numbers for up to 80% of your leads, automatically adding them to your database. This feature can significantly boost your conversion rates, potentially increasing them by up to 90%.
Manychat Pros and Cons
Pros:
User-friendly interface suitable for non-technical users
Multi-channel support (Instagram, WhatsApp, Facebook Messenger)
Powerful lead generation and conversion tools
AI Assistant and pre-built templates for easy setup
Integrations with over 2,000 business tools
Cons:
The free plan has limited functionality
Pricing can become expensive for businesses with large contact lists
Some users report occasional instability in the visual bot builder
Limited language support compared to some competitors
Manychat stands out as an excellent chatbot builder for businesses looking to automate their customer interactions across multiple platforms. Its user-friendly interface and pre-built templates make it accessible even for those without technical experience. The AI Assistant can help you create your first automation quickly, and you can easily edit any template with just a few clicks. However, it’s worth noting that while the free plan is a great starting point, you’ll likely need to upgrade to the Pro plan to access the most powerful features. The pricing structure, which scales based on your number of contacts, means that costs can add up quickly for businesses with large audiences.
Plan
Pricing
Free
$0/Month
Pro
$15/Month
Elite
Custom
IBM Watsonx Assistant
Website
www.ibm.com
Rating
4.4
Free Trial
Yes
Platforms Supported
Web, IOS/Android
IBM Watsonx – Best Chatbot Builders
IBM Watsonx Assistant is a powerful chatbot builder that can revolutionise your customer interactions. It uses artificial intelligence to help businesses handle queries and tasks efficiently. This tool is designed to boost productivity and streamline operations across various sectors.
One of the standout features is its user-friendly interface. You don’t need coding skills to build generative AI assistants, thanks to the intuitive drag-and-drop conversation builder and pre-built templates. This makes it easy for anyone in your organisation to create effective chatbots. The assistant leverages advanced Large Language Models (LLMs) and Natural Language Processing (NLP) to understand the context of each conversation. This means your chatbot can grasp the nuances of human language, leading to more accurate and helpful responses.
Another key feature is the Retrieval-augmented generation (RAG). This allows your chatbot to provide accurate, contextual, and up-to-date answers around the clock, grounded in your company’s knowledge base. It’s like having a tireless customer service rep who always has the right information at their fingertips.
Watsonx Pros and Cons
Pros:
User-friendly interface suitable for non-technical users
Advanced AI capabilities for natural language understanding
Seamless integration with various channels and business systems
Robust analytics dashboard for tracking conversation performance
Ability to handle complex customer interactions
Cons:
Pricing can be steep for smaller businesses
Some advanced features may require technical expertise
The free plan has limited capabilities
IBM Watsonx Assistant is an excellent choice for businesses looking to enhance their customer service and automate routine tasks. Its AI-powered features can help you create engaging, personalised interactions that boost customer satisfaction and loyalty. Whether you’re a small business just starting with chatbots or a large enterprise looking for a scalable solution, IBM Watsonx Assistant offers a range of options to meet your needs.
Wit.ai is a powerful chatbot builder that can revamp your business by enhancing your app’s ability to understand and respond to user input. This natural language processing platform, developed by Facebook, offers a range of features to help you create intelligent chatbots. Wit’s user-friendly interface is its USP. You don’t need to be a coding expert to get started. The platform allows you to train your chatbot through examples, or “utterances”. By providing a few examples of how users might interact with your chatbot, Wit.ai can infer and understand similar requests.
The Understanding section is where you teach Wit how to comprehend your users’ intentions. As you validate more utterances, Wit’s understanding improves, leading to more accurate responses. This learning process is continuous, with every new utterance hitting the API showing up for review and improvement. Wit.ai also uses entities to extract meaningful information from user input. For instance, it can automatically detect and highlight specific data like temperatures or dates, making it easier for your chatbot to provide relevant responses.
Wit.ai Pros and Cons
Pros:
Free for both private and commercial use
User-friendly interface suitable for non-technical users
Continuous learning and improvement through user interactions
Automatic entity detection for more accurate responses
Open-source community benefits
Cons:
May require manual review for quality control
Limited customisation options compared to some paid platforms
Potential privacy concerns with data storage
Wit.ai is an excellent chatbot builder for businesses looking to upscale their customer interactions without significant financial investment. Its ability to understand natural language and continuously improve makes it an amazing tool for creating responsive and intelligent chatbots.
Amazon Lex is a powerful chatbot builder that can revolutionise your business by enabling you to create conversational interfaces for your applications using voice and text. It’s powered by the same technology that drives Amazon Alexa, making it a robust choice for developers looking to build sophisticated, natural language chatbots. The standout element in Amazon Lex is its simplicity. You don’t need deep learning expertise to create a bot. The Amazon Lex console guides you through the process, allowing you to specify the basic conversation flow quickly. This user-friendly approach makes it accessible for businesses of all sizes.
Amazon Lex uses advanced natural language processing (NLP) and automatic speech recognition (ASR) technologies. These features allow your chatbot to understand the context of conversations, leading to more accurate and helpful responses. The bot can handle multi-turn conversations, managing context across interactions without the need for custom code. Integration is another key strength of Amazon Lex. It seamlessly connects with other AWS services, including Lambda, Cognito, CloudWatch, and DynamoDB. This integration allows you to extend your bot’s capabilities, from accessing databases to executing complex business logic.
Amazon Lex Pros and Cons
Pros:
User-friendly interface suitable for non-technical users
Advanced NLP and ASR capabilities for natural conversations
Seamless integration with other AWS services
Pay-as-you-go pricing model
Free tier available for new users
Supports multi-turn conversations
Easy deployment across multiple platforms
Cons:
Limited language support (currently supports English, Spanish, German, French, Italian, and Portuguese)
Restricted customisation options compared to some other chatbot builders
Integration complexity may require programming knowledge
Lacks built-in sentiment analysis
Amazon Lex is an excellent choice for businesses looking to build conversational interfaces quickly and cost-effectively. Its integration with the AWS ecosystem and advanced AI capabilities make it a powerful tool for creating engaging chatbots.
Plan
Pricing
Request and response interaction pricing
Speech request
$32/ for 8000 speech requests
Text request
$1.50/ for 2000 text requests
Streaming conversation pricing
Speech intervals
$52/ for 8000 speech intervals
Text requests
$4/ for 2000 text requests
Automated chatbot designer pricing
Training time
$150/ for 300 minutes
Conclusive Thoughts
Chatbot builders are causing a revolution in the way businesses interact with their customers, offering round-the-clock support and personalised experiences. These tools cater to a wide range of needs and skill levels. As the chatbot arena continues to evolve, businesses have more options than ever to enhance their customer service and automate routine tasks. Whether you’re a small startup or a large enterprise, there’s a chatbot builder out there that can help take your business to the next level. However, in order to stay in the loop with the latest trends and tools in the startup world, why not sign up for StartupTalky’s legacy newsletter ‘Smell The Coffee’? It offers exclusive sneak peeks into the startup scene and early access to some of the most exciting tools out there. Remember, in business circles, staying informed and getting hold of new technologies can make all the difference.
FAQ
Which chatbot builder is best?
The best chatbot builders currently are:
HubSpot
Manychat
IBM Watsonx Assistant
Wit.ai
Amazon Lex
Can I create an AI chatbot for free?
Yes, you can create an AI chatbot for free using various platforms, though advanced features may require paid upgrades.
Can I build my own chatbot?
Yes, you can build your own chatbot using various tools or by coding it from scratch. Depending on your technical skills, you can either use a chatbot builder platform or develop it using programming languages and AI frameworks.
One of the most significant long-term investments investors can make is in an initial public offering (IPO). Early on, investors can grow their cash by participating in the company’s growth. However, plenty of examples of companies that made a great first impression on the stock market but eventually bombed or underperformed once their shares were listed.
This is why, before putting money into a forthcoming initial public offering (IPO), it’s crucial to do thorough research on the company. After thorough research, investors will have all the data they need to make a well-informed decision. Now, let’s examine the steps an investor can take to evaluate an initial public offering. There is a long and lonely road ahead of a company that has decided to go public: the path to making an initial public offering (IPO). The regular time frame for an initial public offering is six to nine months.
The business and the investment bank collaborate on creating the prospectus and registration statement. This offer’s most crucial document, the red herring prospectus (RHP), is available to and can be used by retail investors. The document covers all company aspects except the amount of shares offered or the price. The red herring prospectus is an essential document for all enterprises.
The Companies Act states in Section 32:
A company proposing to make an offer of securities may issue a red herring prospectus prior to the issue of a prospectus.
A company proposing to issue a red herring prospectus under sub-section (1) shall file it with the Registrar at least three days prior to the opening of the subscription list and the offer.
A red herring prospectus shall carry the same obligations as are applicable to a prospectus and any variation between the red herring prospectus and a prospectus shall be highlighted as variations in the prospectus.
Upon the closing of the offer of securities under this section, the prospectus stating therein the total capital raised, whether by way of debt or share capital, and the closing price of the securities and any other details as are not included in the red herring prospectus shall be filed with the Registrar and the Securities and Exchange Board.
Issuers and underwriters promote the initial public offering (IPO) using the RHP. It is the most helpful resource for assessing the offer for a retail investor. Included in the paper are the company’s financials and other relevant details. This document also includes all the required disclosures outlined in the Companies Act and by SEBI. You will find definitions of all the main concerns and industry-specific terms here. Perhaps this section isn’t necessary for a thorough analysis of an offer from a sector with which you are already well-versed.
This one is crucial among the prospectus sections. This informs the investors about the intended use of the IPO funds. This is a surrogate for the company’s financial management and an indication of the future of the company. In this part, we describe the industry in which the business works and offer our predictions and forecasts for the future of that industry. This section will describe our business and go over our main activities. It lays forth the process by which the business makes money. This is very important to investors because it lays out exactly what they will get when they buy shares in the company.
Leadership
This section provides information about the company’s promoters, directors, and key management staff. The management team’s competence is a significant factor when investing in a new firm. Consequently, investors pay close attention to this part and try to learn as much about the company’s founders as possible.
Administrative and Miscellaneous Data
Every pending lawsuit that has been filed against the corporation, its promoters, or its directors is listed in this section. As a result, it provides investors with a more comprehensive perspective about the future and the primary emphasis of the company. In this portion, the investor is given the opportunity to put on his microscope glasses and examine each and every item that is discussed in this area.
Generating Interest
The initial public offering (IPO) should be a significant event for the company, similar to the summer blockbusters or Khan tentpole films. The initial public offering (IPO) roadshow is one strategy for getting the word out among investors. Once an initial public offering (IPO) is greenlit, the company’s investment bankers and underwriters go to work. To promote the IPO, they visit key financial centres across the globe. They are known as a “roadshow” since they travel from place to place.
Selecting between Fixed pricing issues andbook-building issues
Two distinct IPO procedures exist. Fixed pricing issues and book-building issues. In a fixed-price issuance, investors are informed of the price at which shares will be sold and allocated.
Alternatively, investors can bid on shares within a 20% range in a book-building offering. Only once bidding is closed is the ultimate price determined. An IPO price band may be as narrow as 20%. This price range is open to bids from both retail and institutional buyers. All investors have access to the book, a compilation of all the bids received for the initial public offering. That is to say, all present and future investors have access to the demand for the shares offered at different prices.
The IPO floor price serves as the minimum acceptable bid and sets the upper limit of the price range. The band’s upper limit, the IPO cap price, also prevents it from becoming higher.
Typically, the book is open for three days, during which time bidders have the opportunity to alter their first submissions. Because issuers can learn more about demand and pricing during the book-building process, they favour it over fixed price issues. So long as the market is prepared to give the value the issuer believes the issue is worth, the issue can proceed. The cut-off price is the final selling price of the issue. This is the maximum possible selling price for all the shares being offered.
The last step is to sell the issues on the primary market and collect the funds from the investors. Typically, there is a five-day workweek for the bidding process. The allotment of IPO shares is done within a 10-day window following the end of the bidding round. When an initial public offering (IPO) is oversubscribed, the shares are proportionally distributed among the applicants. Consider a scenario where the number of oversubscribed shares is four times the permitted amount. Then, out of 10 lakh shares, only 2.5 lakh will be allocated.
FAQ
What are investors most likely to look for in an IPO?
Investors look for strong financial performance, growth potential, and a capable management team in an IPO. They also consider market conditions and competitive advantages
How do you predict an IPO?
To predict an IPO, analysts evaluate the company’s financial health, industry trends, and market conditions. They also consider growth potential and investor sentiment.
What is the main indicator of successful IPO?
A successful IPO is marked by a significant rise in share price on its first day, indicating strong investor demand. Other signs include high trading volume and meeting post-IPO performance goals.
The complexities of modernizing legacy systems are a significant barrier for many companies, particularly in resource-heavy industries like Oil & Gas and manufacturing. According to a recent study by McKinsey, 70% of digital transformation initiatives fail to achieve their goals, largely due to outdated infrastructure and a lack of cohesive strategy. Meanwhile, a Gartner report reveals that businesses can reduce operating costs by up to 25% by adopting cloud-based solutions and automating legacy processes. Companies like BP and Shell have already leveraged cloud technology to streamline their operations and improve sustainability metrics, resulting in a combined annual cost reduction of over $200 million. As industries increasingly look to become more agile and environmentally responsible, the push for digital transformation has taken center stage, driving companies to rethink their strategies and integrate cloud technologies, AI-driven analytics, and modern cybersecurity solutions to bridge the gap between traditional infrastructure and innovative capabilities.
One professional contributing to these efforts is Sreekanth Muktevi, who has been involved in projects aimed at helping industries modernize their systems and integrate more sustainable practices. Muktevi’s experience has been particularly relevant in the context of digital transformation within the Oil & Gas sector. His academic and practical work outlines strategies that can guide companies through complex modernization processes. Muktevi’s upcoming book, “Transforming Resources: Step-by-Step Strategies for Digital Innovation and Sustainability,” provides a comprehensive look at how companies can align their digital transformation initiatives with long-term business goals and sustainability targets.
Muktevi’s research and publications also focus on the practical application of technology in addressing the limitations of legacy systems. His article, Digital Transformation in the Natural Resources Industry: Rethinking Strategic Approaches, delves into how cloud-based solutions can help industries achieve scalability and efficiency that traditional systems lack. In a recent project, Muktevi worked with a major energy company to shift their legacy infrastructure to a cloud-based platform, resulting in a 25% reduction in operational costs and significant energy savings by optimizing energy use through automated systems and real-time monitoring.
In addition to his work in digital transformation, Muktevi has been active in supporting Environmental, Social, and Governance (ESG) Disclosures, contributing to frameworks that assist companies in meeting regulatory requirements and sustainability goals. As an ESG expert panel member, Muktevi’s focus has been on integrating digital solutions to streamline the reporting and management of ESG metrics. His efforts have enabled companies to better manage their ESG initiatives and align their strategies with environmental and social responsibilities.
Another area where Muktevi has provided substantial input is in setting industry standards and influencing best practices through his research and advisory roles. His work in developing frameworks for digital transformation has been referenced in multiple industry conferences and publications, contributing to the shaping of how companies approach the modernization of legacy systems. Muktevi’s articles, such as Digital Transformation in the Natural Resources Industry: Rethinking Strategic Approaches and Business-Driven Cybersecurity: Modern Approaches and Solutions for Digital Infrastructure Protection, have been used as reference points for businesses aiming to integrate cloud solutions and advanced analytics into their operations.
Furthermore, Muktevi has collaborated with several industry associations to create guidelines and strategies for integrating IT solutions into traditional business models. These collaborations include working with industry leaders to design cloud adoption strategies that can be scaled across multiple sectors, including manufacturing and finance. His research-backed methodologies have been instrumental in helping companies reduce downtime, enhance resource management, and optimize operational costs while adhering to environmental and sustainability goals.
Cybersecurity has also been a significant part of Muktevi’s work, particularly in securing modernized infrastructures. His article, Business-Driven Cybersecurity: Modern Approaches and Solutions for Digital Infrastructure Protection, provides a structured approach to addressing security challenges associated with cloud migrations and digital transformation. His emphasis on cybersecurity reflects the growing need for companies to build secure, resilient infrastructures that can support digital transformation without compromising data integrity or operational stability.
Muktevi’s work has been recognized with awards such as the Gold Stevie Award for Executive of the Year in Managed Services (2024). His role as a judge for the 2024 Globee Awards further demonstrates his involvement in evaluating the technological advancements that are shaping modern business practices. However, Muktevi’s focus remains on practical implementations and strategic guidance rather than personal accolades.
His work aligns with broader industry efforts seen across companies like General Electric (GE), which implemented cloud migration strategies similar to those Muktevi has researched and applied. GE’s shift to cloud-based systems has resulted in enhanced operational efficiencies, reducing manufacturing downtime by 10% and maintenance costs by 15%. These transformations illustrate how digital technologies can enable resource-heavy industries to optimize operations and reduce their environmental impact.
Muktevi’s emphasis on integrating cloud solutions, AI, and cybersecurity illustrates how digital transformation is not merely a technological upgrade but a strategic approach to redefining business models. His research-backed methodologies and practical strategies continue to shape how industries approach modernization, balancing the need for efficiency and sustainability.
In conclusion, the drive for digital transformation in legacy-heavy industries is not without its challenges. However, with structured strategies and well-defined objectives, companies can overcome the limitations of traditional systems and create more sustainable, resilient operations. Muktevi’s contributions to the field, reflected through his research, publications, and advisory roles, provide valuable guidance for businesses navigating this complex transition.
As per the reports, the revenue in the eCommerce Market is projected to reach USD 58.97 billion in 2024. By 2025 the growth is expected to touch USD 188 billion and to touch USD 350 billion by 2030. Much of this amount is a result of the high sales clocked during festival times.
Diwali is just around the corner. The last few years spent in trepidation and reluctant celebrations have whetted appetites for a larger-than-life celebration this festive season. This means that the retail market is looking forward to successful festive season sales. As much as the world is now operating almost up to the pre-pandemic levels, online shopping has only gained momentum and preference.
Diwali – the festival of lights is a symbolic representation of the victory of good over evil, knowledge over ignorance, and light over darkness. Celebrated for over five days in the Hindu month of Kartika, the festival is largely associated with the deities Lakshmi, Goddess of prosperity, and Ganesha, God of wisdom and remover of obstacles.
The time leading up to the festival is spent in enthusiastic preparation for the celebrations. Homes and offices are thoroughly deep-cleaned, renovated, and decorated. A variety of snacks are prepared or bought, family get-togethers are planned and, of course, a lot of purchasing is done.
Here is a Diwali sales analysis of the past few years.
Traditionally, Diwali has been associated with prosperity and wealth creation. The auspiciousness of the festival is celebrated by the purchase of precious metal items like gold and silver on the 1st day of this five-day festival – ‘Dhanteras’. The day is also considered auspicious for the purchase of big-ticket items like property, cars, and other white goods like electronics.
The business community conducts a religious ceremony of their account books to celebrate the beginning of the traditional business new year. This time is considered particularly auspicious to begin new projects and make new investments.
The Dalal Street’s stockbroking community has been practicing ‘muhurat trading’ on Diwali to celebrate a fortunate start of the new year. Investors place token orders to hold for a long period of time and traders book intra-day profits which normally allows the Sensex to close on a positive note due to high trading volumes.
The festival of Diwali is followed by the wedding season – adding to the euphoric shopping mood prevailing within the country. The shopping frenzy is fed by irresistible limited-period offers and mega discounts offered by brands through omnichannel marketing.
2020 – The Demarcation Year
The year 2020 will undoubtedly go down in history as the time when the world stood still due to the COVID-19 pandemic. For more than six months, the global lockdown wreaked havoc on the economy, with businesses being shut down and people retreating to the safety of their homes.
As restrictions eased, the world slowly came back to life and the struggle for normalcy began in earnest. In many ways, it was a kind of re-emergence of the human race. A demarcation of sorts. Since then, everything has been segregated into pre-pandemic and post-pandemic, including the retail sales market, especially for festival shopping.
The beginning of eCommerce in India can be traced back to 1995 with the introduction of the Internet. The first wave of eCommerce in India was slow, inefficient, and had low consumer acceptance. After the dot-com bubble burst in 2000, the eCommerce business in India was muted and low-key. It was only after 2005 that the eCommerce business developed significantly, especially in the areas of retailing, group purchasing, traveling, and societal interaction.
As the online shopping phenomenon penetrated new markets and reached wider audiences, the heavyweights of the industry like Amazon, Flipkart, and Myntra became more and more aggressive in their discounts and sales. Festival sales became a large phenomenon, with most sales timed around the Diwali season.
Since the eCommerce industry gained a sturdy foothold in India, Indian eTailers have given their customers a big reason to celebrate with whopping discounts, limited-time deals, and easy payment options during the Diwali season. Indian online shoppers have always shown consistent loyalty to discounts and deals—a fact not missed by eTailers.
Pre-Pandemic Diwali Sales
The year 2018 saw the eTailing industry rake in a GMV of INR 15,000 crores between the Diwali sale period of one week – October 9th to October 14th. This was a steady growth from INR 5,300 crores in 2015 and INR 11,200 crores in 2017. Leading the eCommerce industry for the festive season were Flipkart and Amazon, closely followed by Snapdeal and Myntra. The festive discounts were primarily driven by the sales of mobiles and fashion verticals, which grew by 70% and 78% respectively from the previous years. Other categories that witnessed significant shopping were electronics, women’s and men’s fashion, and furniture.
The year 2019 saw a continuation in the growth of Diwali online sales. The total earnings for eTailers for Diwali 2019 touched an all-time high of INR 35,000 crores. Product categories like mobiles, large appliances, home décor, and electronics saw a surge in demand. Other categories like beauty, food, health, fashion, and clothing also saw a demand increase for the festive season. Apart from this, eCommerce companies were also incentivizing customers through multi-media access like mobiles, tablets, and laptops.
Post-Pandemic Diwali Sales
March 2020 sent the world into hiding in a bid to survive the biggest health crisis. As life re-adjusted to new norms, newer trends emerged, both professionally and personally. Ecommerce became the preferred shopping method even as offline stores struggled with restrictions.
The festive Diwali season for this year was dictated by affordability and ease of access to a wide assortment of products. In a bid to make up for losses during the long lockdown period, eCommerce players held multiple sale events around Dussehra and Diwali. The response from their customer base surpassed estimated figures to reach INR 58,000 crores, recording a 65% surge from the previous year. Flipkart and Amazon accounted for the lion’s share of 88% of the entire Gross Merchandise Value (GMV).
Mrigank Gutgutia, Director of the research firm Redseer said, “The overall growth story has been very bullish this festive season. We had foreseen USD 7 billion of sales but the actual figures surpassed our expectations fairly comfortably, showing how comfortable consumers have become with shopping online even in this pandemic hit year. And it has proven that with the right assortment at the right prices which is delivered quickly in the safety of customer’s homes, the value proposition of eCommerce is very powerful.”
The Redseer report also noted that a large chunk of online shoppers came from tier II and beyond cities. Interestingly, the fashion segment demand dropped in 2020 and demand for categories like home and home furnishings increased due to an upgrade in the work / study-from-home environment.
As time went by and 2020 dawned into 2021, the journey to normalcy gained momentum with vaccination drives being held throughout the country. Despite inflation and the ongoing pandemic, eCommerce companies were ploughing the way for higher sales and further growth and the Indian consumers did not disappoint. 2021 Diwali saw decade-high sales figures of INR 125,000 crores. As with the previous year, the highest-selling categories were home furnishings and food clocking an increase of 42% and 18% respectively. Items such as earthen lamps, candles, footwear, watches, toys, consumer durables, electronics and kitchen articles, and accessories were the most selling items on Diwali. eCommerce players saw a 5X growth and clocked 3 crore orders in the pre-sale and sale periods combined.
Diwali Spending Index: An Indicator of the Spending Intent Among Indian Consumers
For 2022, Diwali sales figures soared even higher as consumers were all set to welcome the festive season enthusiastically. The heavyweights of the eCommerce industry are well-equipped to meet the high demand of the festive season as people wait for the next sale dates to be announced.
As per Redseer’s report, INR 24,500 crore (USD 3.5 billion) in sales were registered for the first 4 days (22nd–25th Sept) of the first festive sale event of Diwali 2022. This figure contributed to 60% of the projected GMV for festive sale 1, showing a 1.3x growth compared to the previous year, which contributed to 59% of the projected GMV.
According to the 2023 RedSeer report, the festive season boosted the Indian eCommerce platforms, with sales totaling approximately INR 90,000 crore. This represents a significant 18%-20% increase from the previous year, driven by an estimated 140 million online shoppers. These festive season sales almost contributed around 17% to the overall annual eCommerce sales for the year 2023.
Ecommerce Festive YoY Growth%
According to a RedSeer report, during the 2024 festive season, eCommerce is expected to generate over INR 100-120 thousand crore in gross merchandise value (GMV), which is a big increase from last year.
This rise in eCommerce sales is driven by a few key factors:
Pent-up Demand: Especially in categories like mobiles and electronics, where people tend to wait for festive deals. Fashion demand has been slower this year but is expected to pick up.
Premium Products: Brands are offering premium products at discounted prices to encourage shoppers to buy high-end items.
New and Trendy Items: New products and limited-time ranges, especially in fashion, will be launched during the festive season to attract shoppers.
Steady Growth: Ongoing growth in segments like beauty, personal care (BPC), and quick commerce (q-commerce), with a boost during the festive period.
The shift to online shopping, especially during the COVID-19 pandemic has been one of the strongest catalysts fuelling the online Diwali sale drive. There are moreover, a few other reasons due to which Diwali festival sales are seeing steady year-on-year growth.
Preferred Mode of Purchase by Indian Households for Their Festive Season Shopping
Etailer Initiatives
Online eTailers are employing tools like flash sales, card offers, free delivery, and no-cost EMIs for large ticket purchases. These tools make it easy for customers to make their purchases. Flash sales often trigger impulse buys by customers, especially on first-time products which are, usually, not discounted. Added to this are the special rewards attached to specific credit cards which further add to the deep discounts and offer extra cashback. These initiatives are coupled with easy exchange/return policies and extended warranties, which are difficult to resist and convert into successful sales.
Top Wallet & Bank Card Offers
eTailers enter into strategic partnerships with banks like HDFC, SBI, ICICI Bank, Standard Chartered, American Express, etc. They then offer exclusive privileges and financial benefits to their customers.
Personalized Product Feed
The shopping history of a consumer is an information mine for the eTailer. They track the shopping habits of the consumer and based on shopping preference, feed the customer with product details and oncoming deals through their social media, WhatsApp, etc.
Amazing Deals
Thanks to low prices and amazing offers, Flipkart and Amazon continue to grab attention. Flipkart’s big Diwali sale offered discounts on TVs, appliances, wearables, tablets, smartphones, and more for five days.
Similarly, Amazon’s Great Indian Festival sale offered big discounts on a wide range of products. Both sales attracted a lot of customers with eye-catching deals and huge savings on many items.
Diwali Marketing
Diwali marketing is when businesses create special offers and ads during the festival to attract customers. They use bright and festive themes to get people’s attention. Brands offer discounts and deals on products like clothes, electronics, and gifts. This helps them sell more and make the most of the shopping season during Diwali.
What was just a decade ago, a traditional industry with customers shop-hopping on particular sale days or weekends has become a finger-trigger industry that allows customers the convenience of shopping from the comfort of their homes.
It is no wonder, then, that the eCommerce industry has gained popularity and has become the preferred medium of shopping. There is no doubt that it has better market penetration, a better product catalog on one platform, and, in some cases, better deals to offer the customer.
FAQs
What are the reasons for successful Diwali sale online?
Some of the most popular reasons for successful Diwali sale online are:
Etailer Initiatives
Top Wallet & Bank Card Offers
Personalized Product Feed
What sells the most on Diwali?
Items such as sweets, dry fruits, earthen lamps, candles, clothing, home decor, footwear, watches, toys, consumer durables, electronics, and kitchen articles and accessories sell the most on Diwali.
What is 2025 Diwali date?
Diwali would be celebrated from 18 Oct–23 Oct in 2025.
Due to a growing middle class, rising internet usage, and shifting lifestyles, India’s food delivery market has experienced exponential growth in recent years. These startups guarantee that delicious meals will arrive at your door quickly, whether you are craving international or traditional Indian cuisine. The top ten food delivery startups in India that are changing the food scene are detailed in this detailed guide:
Swiggy, founded in 2014, is one of the leading food delivery startups in India. It was established by Nandan Reddy, Sriharsha Majety, and Rahul Jaimini. Swiggy has successfully expanded its operations to numerous cities across India and has partnered with thousands of restaurants.
Key Features
Real-time Order Tracking: Allows users to track their orders in real-time.
Extensive Restaurant Network: Partnerships with a wide range of restaurants.
Swiggy Genie: Offers additional services like picking up and delivering packages.
Impact
Swiggy has transformed the food delivery landscape with its efficient delivery system and customer-centric approach. The platform ensures timely deliveries and a variety of food options, making it a top choice for food lovers.
Zomato, founded in 2008 by Deepinder Goyal and Pankaj Chaddah, started as a restaurant search and discovery service. It quickly evolved into a food delivery giant, competing head-to-head with Swiggy.
Key Features
Comprehensive Restaurant Listings: Detailed information about restaurants, including reviews and ratings.
Zomato Gold: Membership program offering exclusive discounts and offers.
Global Presence: Operations in several countries beyond India.
Impact
Zomato has significantly enhanced the food delivery experience with its user-friendly interface and extensive restaurant partnerships. The platform’s reviews and ratings system helps users make informed decisions.
Dunzo
Website
www.dunzo.com
Rating
4.7
Founded
2014
Platforms
Web, IOS/Android
Dunzo – Top Food Delivery Startups in India
Dunzo, founded in 2015 by Kabeer Biswas, Ankur Agarwal, Dalvir Suri, and Mukund Jha, is a hyperlocal delivery service. While it delivers groceries, medicines, and other essentials, its food delivery service is highly popular.
Key Features
Multi-utility Service: Delivers a wide range of items, not just food.
Quick Deliveries: Known for its fast and efficient delivery system.
User-friendly App: Easy-to-use interface with real-time tracking.
Impact
Dunzo has carved a niche in the food delivery market with its versatile service offerings. It provides a seamless delivery experience, making it a go-to option for many users.
Box8
Website
www.box8.in
Rating
4.6
Founded
2012
Platforms
Web, IOS/Android
Box8 – Top Food Delivery Startups in India
Box8, founded in 2012 by Anshul Gupta and Amit Raj, is a food delivery startup specializing in Indian meals. The company focuses on delivering freshly prepared, wholesome meals.
Key Features
Indian Cuisine Focus: Specializes in Indian meals prepared with fresh ingredients.
All-in-One Meal Boxes: Offers meal boxes that include a main course, sides, and dessert.
Quick Delivery: Ensures that food is delivered hot and fresh.
Impact
Box8 has gained popularity for its focus on Indian cuisine and quality meals. The startup’s commitment to delivering fresh and tasty food has made it a favorite among Indian food lovers.
FreshMenu
Website
www.freshmenu.com
Rating
4.5
Founded
2014
Platforms
Web, IOS/Android
FreshMenu – Top Food Delivery Startups in India
FreshMenu, founded in 2014 by Rashmi Daga, is a food delivery startup that offers gourmet meals prepared by professional chefs. The company focuses on delivering high-quality, freshly prepared food.
Key Features
Gourmet Meals: Offers a variety of gourmet dishes prepared by expert chefs.
Daily Menu: Features a changing menu with new dishes every day.
Fresh Ingredients: Emphasizes the use of fresh and high-quality ingredients.
Impact
FreshMenu has redefined the food delivery experience with its focus on gourmet meals. The startup’s dedication to quality and taste has earned it a loyal customer base.
Faasos
Website
www.eatsure.com
Rating
4.1
Founded
2011
Platforms
Eatsure, Swiggy, Zomato
Faasos – Top Food Delivery Startups in India
Faasos, founded in 2011 by Jaydeep Barman and Kallol Banerjee, is a food delivery startup known for its wraps and rolls. The company has since expanded its menu to include a variety of Indian and international dishes.
Key Features
Diverse Menu: Offers a wide range of dishes, including wraps, rice bowls, and desserts.
Quick Service: Known for its fast and efficient delivery.
Innovative Packaging: Uses eco-friendly and convenient packaging.
Impact
Faasos has made a mark in the food delivery industry with its diverse menu and quick service. The startup’s innovative approach to food delivery has resonated with customers across India.
Oven Story, founded in 2016, is a food delivery startup specializing in pizzas. The company focuses on delivering a variety of gourmet pizzas with unique toppings and flavors.
Key Features
Gourmet Pizzas: Offers a range of pizzas with diverse toppings.
Customized Orders: Allows customers to customize their pizzas.
Quick Delivery: Ensures timely delivery of hot and fresh pizzas.
Impact
Oven Story has become a favorite among pizza lovers for its gourmet offerings and customization options. The startup’s commitment to quality and taste has set it apart in the competitive food delivery market.
MojoPizza
Website
www.mojopizza.in
Rating
4.7
Founded
2017
Platforms
Web, IOS/Android
MojoPizza – Top Food Delivery Startups in India
MojoPizza, part of the Box8 family, was established to revolutionize pizza delivery in India. It offers a variety of pizzas with generous toppings and quick delivery.
Key Features:
Variety of pizza options
Generous toppings
Quick service
Attractive offers
Biryani By Kilo (BBK)
Website
www.biryanibykilo.com
Rating
4.7
Founded
2015
Platforms
Web, IOS/Android
Biriyani by Kilo – Top Food Delivery Startups in India
Biryani By Kilo, founded by Kaushik Roy and Vishal Jindal in 2015, focuses on delivering a wide range of biryanis cooked in traditional handis. The startup ensures that each order is prepared fresh upon request.
Key Features:
Freshly prepared biryanis
Variety of regional biryanis
Traditional cooking methods
Quality ingredients
India’s food delivery market is dynamic and varied, with new businesses constantly coming up with new ideas to satisfy customers. These top 9 food delivery startups in India offer a wide range of options to satiate your cravings, whether you are looking for quick snacks, healthful options, or gourmet meals. These businesses have revolutionized food delivery by utilizing cutting-edge technology and providing exceptional customer service.
FAQ
How many food delivery startups are there in India?
India has over 500 food delivery startups, including major players like Swiggy, Zomato, and many regional platforms.
Who is the leader of food delivery in India?
Swiggy is the leader in food delivery in India, followed closely by Zomato.
Why did Uber Eats fail in India?
Uber Eats failed in India due to fierce competition from local giants like Swiggy and Zomato, which had a stronger market presence. Additionally, Uber Eats struggled with high operational costs and an inability to gain significant market share, leading to its sale to Zomato in 2020.
Which is the fastest food delivery service in India?
Swiggy is often considered the fastest food delivery service in India, thanks to its large delivery network and technology-driven operations. Zomato also provides quick service, especially in major cities, but Swiggy tends to lead in terms of speed and efficiency.
The Microsoft team led by Satya Nadella and Indian IT giant Infosys have extended their collaboration to support the global acceleration of customers’ adoption of Microsoft Azure and generative AI.
According to a statement from the firm, the strategic partnership is to assist Infosys and Microsoft’s joint clients in realising the return on their technology investments and achieving transformative results. As per a regulatory filing, Infosys would integrate Microsoft’s suite of generative AI services throughout its Solution IP portfolio to introduce distinctive features and assist clients in attaining cost-effectiveness, scalability, and flexibility.
The company’s increased partnership with Infosys will change sectors, improve corporate operations, improve employee satisfaction, and provide consumers with new value. According to Nicole Dezen, Chief Partner Officer at Microsoft, “Together, the two companies will capitalise on the potential of generative AI to provide creative solutions, drive AI adoption, and allow unparalleled innovation for customers.”
Top GitHub Copilot, Infosys
Since Infosys first introduced GitHub Copilot, the two companies have worked together to significantly improve code completion and modernisation. With more than 18,000 developers using GitHub Copilot to produce more than 7 million lines of code, Infosys is currently acknowledged as one of the top users of this platform.
The partnership solves numerous business issues using a customer-centric approach, according to Anand Swaminathan, EVP and Global Industry Leader–Communications, Media, and Technology, Infosys. It offers scalability, agility, and cost-efficiency across important sectors like finance, healthcare, supply chain, and telecommunications.
Adding to Microsoft’s Generative AI Product Line
Infosys was also selected as a strategic supplier to serve Microsoft’s enterprise customers’ cloud and AI workloads. Infosys will integrate Microsoft’s generative AI suite of products throughout its portfolio of Solution IP to deliver distinctive features that assist customers in achieving cost-effectiveness, scalability, and agility.
Together with Microsoft‘s technology, the partnership will accelerate the global adoption of enterprise AI by improving customer experiences and leveraging Infosys’s AI-powered marketing suite, Infosys Aster, and its own portfolio of industry-leading AI and Cloud services, Infosys Topaz and Infosys Cobalt.
Both businesses are concentrating on exchanging best practices for Responsible AI (RAI) as their partnership expands. Via RAI Office, Infosys is a major contributor to the creation of ethical AI guidelines and a major partner in The Microsoft Responsible AI Partner Initiative. Collaboration also includes skill-building activities, which guarantee that workers have the know-how to support these projects.
About Infosys
In terms of consulting and next-generation digital services, Infosys is a world leader. It helps clients negotiate their digital transformation in over 50 countries. With more than 40 years of expertise overseeing the operations and systems of large, international companies, Infosys competently guides its clients through their digital transformation. It has accomplished this by providing the business with an AI-driven core that aids in prioritising the implementation of change.
According to various media reports, Saurabh Chandrakar, the suspected mastermind of the multimillion-dollar Mahadev Online Book scam, has been arrested by UAE officials on suspicion of money laundering.
A formal request for extradition is anticipated to be sent shortly by the Enforcement Directorate. The sources went on to say that on September 9, 2024, the arrest was reported to the investigative agency. The estimated amount of proceeds of crime (PoC) is INR 10,000 crore; however, if an all-India assessment is produced, the number may be substantially higher. Tainted gains resulting from illicit acts that are under the purview of the Prevention of Money Laundering Act (PMLA) are referred to as PoC in the context of money laundering.
Details of The Case
Large-scale money laundering through the app’s activities was found to be facilitated by these accounts earlier this year, with the share market alone receiving about INR 1,100 crore in funds. It is estimated that the fraud also uses thousands of SIM cards in addition to other covert methods to avoid discovery.
Many investigative organisations have taken notice of the Mahadev betting app, which is operated by its promoters, Saurabh Chandrakar and Ravi Uppal, out of Dubai. Using a complex network of unregistered accounts, the app functioned as an umbrella syndicate, offering venues for unlicensed betting websites and money laundering services. Authorities’ attempts to prosecute the main actors have been hampered by the app’s global activities.
What Charge Sheets State?
In this instance, the ED has so far taken 11 people into custody. The agency has also so far filed two charge sheets, one of which is directed at the two promoters. The agency estimates that the proceeds of crime in this case are around INR 6,000 crore. In its charge sheet, the ED claims that Chandrakar got married in Ras Al Khaimah, United Arab Emirates, in February 2023, and that the wedding cost was over INR 200 crore “in cash.”
According to the agency, celebrities were paid to perform at the wedding, and private jets were rented to transport Chandrakar’s relatives from India to the United Arab Emirates. It had demanded to know the payment method and the connections between the online betting platform and numerous celebrities and Bollywood actors, alleging that the app’s purportedly illicit earnings were given as bribes to state officials and politicians.
Further Details of the Investigation
The Mahadev Online Book App is managed from a central head office in the United Arab Emirates, according to the ED’s investigation. It makes money by franchising “panels/branches” to familiar partners at a profit ratio of 70–30%. Huge-scale hawala operations are carried out in order to divert betting profits to offshore accounts.
According to the ED, a significant amount of money is also being spent in India to advertise betting websites in an effort to draw in new customers and franchise (panel) aspirants. The company’s founders are from Chhattisgarh’s Bhilai.
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Imagine having cutting-edge PCR technology right where it’s needed most—whether in a bustling clinic, a remote village, or even out in the field. Molbio Diagnostics’ Truelab Real-Time Quantitative Micro PCR system makes that possible. It’s not just a lab tool anymore; it’s molecular diagnostics brought directly to the frontline of healthcare. What makes it even more revolutionary? The system works independently of traditional infrastructure, offering a complete solution for disease diagnosis. With its wireless data transfer capabilities, it’s perfect for locations with minimal resources, bringing top-tier diagnostics to places that need it most. This is a game-changer in the global fight against infectious diseases.
Here’s learning about Molbio Diagnostics, its Founders, Startup Story, Business Model, Revenue Model, Funding, Acquisitions, Growth Competitors, and more.
Molecular diagnostics is at the forefront of infectious disease detection, offering unparalleled accuracy by detecting pathogens at the DNA level. Its ability to amplify DNA means it can identify diseases in their earliest stages, thanks to its outstanding sensitivity and specificity. However, until now, this advanced technique has been confined to centralized labs that rely on expensive infrastructure, skilled technicians, and controlled environments. This has created long wait times and logistical hurdles like sample degradation and contamination.
But Molbio has changed the game. Introducing the Truelab Real-Time Quantitative Micro PCR System—a groundbreaking, portable molecular diagnostics platform designed to work directly at the point of care. This compact, battery-operated system delivers results in under an hour from sample to diagnosis, making same-day reporting and treatment a reality. For emergencies, the system offers real-time data transfer via SMS, email, or data push for instant reporting.
For doctors and patients, this means a quicker path to a definitive diagnosis, often at the first point of contact, allowing for timely, evidence-based treatment. Early detection not only improves outcomes but also plays a critical role in preventing the spread of disease.
After rigorous validation, the Indian Council of Medical Research (ICMR) found the Truenat test to be more sensitive and specific than traditional smear microscopy. As a result, it’s now recommended as a frontline diagnostic tool for tuberculosis (TB) and Rifampicin resistance under the RNTCP algorithm. The Ministry of Health has already begun rolling it out across India, with Andhra Pradesh leading the charge by implementing Truenat at the Primary Health Centre level. This innovative approach has significantly boosted TB case detection rates in the state.
Molbio Diagnostics – Industry
Diagnostics is poised to play an even more crucial role in patient care in the coming years, especially as molecular diagnostics continues to evolve at a rapid pace, contributing to around 4–5% of the total healthcare expenditure.
Over the past decade, we’ve seen incredible advancements with the introduction of high-complexity tests and cutting-edge technologies, not just in India, but worldwide where 41% of healthcare spending is on diagnostics.
Molecular diagnostics has transformed disease detection, offering remarkable accuracy and speed. Today, rapid multiplex PCR assays can identify up to 18 or more viruses simultaneously, significantly boosting diagnostic efficiency and precision.
Among the many players in India’s molecular diagnostics market, Molbio Diagnostics stands out. This Goa-based company, known for its Truelab Real-Time Quantitative Micro PCR system, has made history by becoming India’s first molecular diagnostics company to surpass a $1 billion valuation. Their innovation is reshaping healthcare, bringing advanced diagnostic capabilities to the forefront of patient care.
In 2023, the Indian diagnostics market stood at around 13 billion U.S. dollars, with expectations to double by 2028.
Molbio Diagnostics – Founders and Team
Sriram Natarajan
Sriram Natarajan – Founder, Director, and CEO of Molbio Diagnostics
Sriram Natarajan is theFounder, Director, and CEO of Molbio Diagnostics Pvt. Ltd. With over three decades of expertise, Mr. Natarajan is the visionary behind Molbio Diagnostics Pvt. Ltd. and the founder of the Tulip Group, India’s largest IVD reagent company. His experience in the diagnostics space spans the development, manufacturing, and marketing of innovative diagnostic devices. With an M.Sc. and M.Phil., he has over four years of academic research experience and an impressive 34 years of expertise in diagnostics. Mr. Natarajan’s career has spanned the development, manufacturing, and marketing of diagnostic devices and kits worldwide, across both private and public sectors. In 1989, he founded the Tulip Group, growing it into India’s largest IVD reagent company and a key player on the global stage, before successfully exiting the company in January 2017.
Natarajan’s vision for Molbio is to make it a globally impactful company, more closely aligned with societal needs. He also has ambitions to raise capital and transform Molbio into a public limited company, aiming to elevate the company’s credibility and global perception.
Molbio Diagnostics – Startup Story
Molbio Diagnostics, founded in 2014, became Goa’s first startup to reach unicorn status, surpassing a turnover of one billion.
The company has spent over two decades in R&D, led by Sriram Natarajan, collaborating with global healthcare organizations such as CSIR, ICMR, BIRAC, Grand Challenges Canada, BMGF, and FIND.
Their work has focused on miniaturizing PCR technology, with patents filed or approved in over 100 countries. In response to the COVID-19 pandemic, Molbio supplied more than 8.2 million testing kits and installed over 4,000 machines in the past year alone, reinforcing their pivotal role in diagnostics.
While COVID-19 disrupted most industries in FY21, healthcare diagnostics companies found a unique opportunity for growth. Molbio Diagnostics, which played a leading role in India’s COVID-19 screening efforts. Their portable, battery-operated real-time RT PCR point-of-care (PoC) testing system was instrumental in expanding testing capacity across the country. This surge in demand led to a remarkable 25X increase in revenue during FY21.
Moreover, in March 2022, the Indian government deployed Truenat as a key tool in its door-to-door tuberculosis (TB) screening initiative. Today, over 4,000 Truenat machines are in use across public and private sectors, supporting widespread testing across the country.
Molbio Diagnostics – Mission and Vision
Molbio Diagnostics is driven by the mission to improve healthcare by offering precise, fast, and affordable diagnostic solutions. Their goal is to reduce patient suffering, prevent fatalities, and minimize economic loss, ensuring access to top-quality healthcare for all.
Their vision is to revolutionize healthcare by providing portable, near-care diagnostic tools that make advanced testing accessible anywhere. Known for their WHO-endorsed Truenat real-time PCR platform, Molbio brings critical diagnostic services directly to the patient’s doorstep, enabling rapid, point-of-care testing with their innovative portable devices and kits.
Molbio Diagnostics – Name, Tagline and Logo
Molbio Diagnostics Logo
Molbio Diagnostics’ logo cleverly incorporates molecular and scientific imagery, highlighting their expertise in molecular diagnostics, especially with their flagship product, Truenat. Elements like DNA helixes or molecular patterns point to the company’s commitment to innovative healthcare technology.
The choice of red in the logo isn’t just for aesthetics—it adds a layer of urgency, perfect for a field like diagnostics where speed and accuracy matter.
But it’s not all about urgency. Red also taps into emotions, creating a sense of trust, care, and empathy, which are so important in patient care.
This mix of modern science and thoughtful color choice reflects Molbio’s dedication to delivering cutting-edge and compassionate healthcare solutions.
Molbio Diagnostics operates in the B2B space within the Life Sciences, Infectious Diseases, Sustainability Tech, and Genomics market segments, focusing on providing cutting-edge diagnostic solutions that cater to both public health and sustainability initiatives.
Molbio Diagnostics – Revenue Model
Molbio Diagnostics’ flagship product, Truenat, is a real-time IoT-enabled testing kit capable of detecting over 30 diseases. The company also generates substantial revenue from micro PCR workstations, reagent kits, and cartridges. In February 2023, Molbio acquired a majority stake in Prognosys Medical Systems, expanding its portfolio to include digital X-ray machines. Moreover, Molbio is actively developing point-of-care technologies in areas like hematology, cancer, antimicrobial resistance, next-generation sequencing, and syndromic testing.
Molbio Diagnostics – Challenges Faced
Overcoming Supply Chain Gaps
Molbio Diagnostics faces some significant challenges in addressing the global demand for diagnostic supplies, especially when infectious diseases spread rapidly. One of their key priorities is ensuring that their micro PCR analyzers can be manufactured locally, helping them stay ahead of supply shortages. This approach not only speeds up production but also allows them to keep costs down without compromising on the performance of the devices.
Ensuring Longevity
Another challenge in the medical device industry is the need for long-term availability of parts, ensuring that products don’t become obsolete too quickly. To tackle this, Molbio has partnered with SMART Wireless Computing, using their Snapdragon-based solutions, which offer extended-life support. This ensures that Molbio’s devices remain functional and supported for years to come, addressing a crucial issue faced by medical product manufacturers globally.
In FY23, Molbio reported a loss of Rs 3.4 crore, a stark contrast to the profit of Rs 215 crore seen in FY22. The company experienced a significant 57% decline in scale and rising fixed costs have added pressure.
Despite these challenges, Molbio Diagnostics remains a beacon of innovation and resilience in the healthcare industry. With strategic planning and a commitment to public health, they’re poised to navigate whatever comes next on their journey.
Molbio Diagnostics – Funding and Investors
Molbio received its first funding through the ATC Grant as a government initiative to aid in the effort to tackle COVID in 2022.
Date of Funding
Funding Amount
Round Name
Post Money Valuation
Investors
September 23, 2022
$85 million
Series C
$1.6 billion
Temasek, Motilal Oswal
May 28, 2021
$19.2 million
Series B
$225 million
Motilal Oswal
January 22, 2020
$19.7 million
Unattributed
$1.21 billion
Motilal Oswal, Shankar Gopalakrishnan
Molbio Diagnostics has raised a total funding of $124 million over 4 rounds to date. The company’s annual revenue as of Mar 31, 2023 is INR 337 crore ($42 million).
In February 2023, Molbio Diagnostics acquired a 70% stake in Prognosys Medical Systems, aiming to enhance its presence in digital radiography. This acquisition aligns with their “Universal Access” portfolio, combining the strengths of Molbio’s Truenat systems with Prognosys’ Prorad systems to screen and confirm contagious diseases like tuberculosis, COVID-19, and chest anomalies across large populations.
Molbio Diagnostics – Growth
In September 2022, Molbio Diagnostics made headlines as Goa’s first startup to reach unicorn status. This remarkable achievement came after raising around INR 680 crore from notable investors, including Temasek and Motilal Oswal Private Equity (MOPE). What a way to kick off a journey in the healthcare sector!
But the success didn’t stop there. IN FY21 Molbio’s revenue took a giant leap, skyrocketing to INR 1,272 crore from just INR 51.53 crore in FY20.
In FY21, the company posted a profit of INR 472.7 crore, a dramatic change from the previous year’s loss of INR 16.27 crore. Molbio is not just surviving but thriving. In August 2023, Molbio Diagnostics teamed up with CrisprBits in a strategic collaboration aimed at integrating CRISPR technology into point-of-care (POC) testing.
This partnership marks a significant step toward enhancing diagnostic capabilities. In the fiscal year 2023-24, Molbio reported a turnover of approximately INR 800 crore, reflecting its continued growth and innovation in the healthcare sector. In FY23, Molbio Diagnostics faced significant challenges, reporting a loss of INR 3.4 crore compared to a profit of INR 215 crore in FY22. The company experienced a dramatic 57% decline in scale, and rising fixed costs added further pressure to its operations.
At the heart of this success is Truenat, Molbio’s flagship product. This real-time IoT-enabled testing kit is a game-changer, capable of detecting over 30 diseases. The Indian government even deployed it as a frontline tool in its door-to-door TB screening initiative—showcasing its crucial role in public health efforts.
Molbio Diagnostics – Financials
Molbio Financials
FY22
FY23
Operating Revenue
INR 776 crore
INR 332 crore
Total Expenses
INR 486 crore
INR 328 crore
Profit/Loss
INR 215 crore
INR -3.4 crore
Molbio Diagnostics Financials FY23
In FY22, Molbio earned an operating revenue of INR 776 crore and spent INR 486 crore, leading to a profit of INR 215 crore. In FY23, their revenue dropped by 57%, falling to INR 332 crore. At the same time, their expenses decreased slightly by 32%, down to INR 328 crore. However, this resulted in a loss of INR 3.4 crore for FY23.
Molbio Diagnostics – Awards and Achievements
Molbio Diagnostics is awarded with the following awards:
BW Healthcare World Excellence Award 2022
Changemaker Award 2024 – Digital Transformation
BioSpectrum Product of the Year Award 2020The TrueNat TB test won the BioSpectrum Product of the Year Award
Ranking on the Burgundy Private Huron India 500 ListThe company proudly secured the 275th position on the Burgundy Private Huron India 500 list.
With a robust portfolio of awards and recognitions, this innovative company in the healthcare sector’s future looks bright.
Molbio Diagnostics – Competitors
Molbio Diagnostics operates in a competitive landscape in India, with various players vying for market share.
One notable competitor is Bigtec Labs, which functions as the research and development (R&D) wing of Molbio Diagnostics. Bigtec Labs has made significant strides in the medical device sector, developing and commercializing innovative products like a portable micro-PCR system, further highlighting the dynamic nature of the diagnostics industry.
Other competitors of the company are as below:
Thalys Medical Technology
Demka Sakti
Grupo SIM
Spectrum Medical
Molbio Diagnostics – Future Plans
The company has set its sights on launching an initial public offering (IPO) in FY25, aiming for a target valuation between INR 22,000 crore and INR 24,000 crore. Exciting times ahead!
Molbio isn’t resting on its laurels. The company is committed to strengthening its diagnostic testing capabilities, developing innovative point-of-care technologies, and expanding its reach in the global market.
FAQs
What does Molbio Diagnostics do?
Molbio Diagnostics’ Truelab Real-Time Quantitative Micro PCR System—a groundbreaking, portable molecular diagnostics platform designed to work directly at the point of care. This compact, battery-operated system delivers results in under an hour from sample to diagnosis, making same-day reporting and treatment a reality.
Is Molbio Diagnostics a Unicorn?
Founded in 2014, Molbio Diagnostics became Goa’s first startup to surpass a turnover of one billion, achieving Unicorn status.
Who is the founder of Molbio Diagnostics?
Sriram Natarajan is the Founder, Director, and CEO of Molbio Diagnostics Pvt. Ltd.
Rishi Mundra
