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  • Parag Aggarwal, Co-founder and CEO, GoBOLT, Shares Insights on the Company’s Journey to Enhancing Supply Chain Efficiency Through Technology Solutions

    StartupTalky presents Recap’22. This is a series of interviews in which we conduct in-depth discussions with founders & industry leaders to understand their growth in 2022 and their predictions for the future.

    The logistics industry involves the coordination and movement of goods from one place to another through a supply chain network. It includes activities such as transportation, warehousing, and distribution of products. The industry has been greatly impacted by technology advancements such as automation, digitalization, and e-commerce, leading to increased efficiency and cost savings.

    The logistics industry in India is growing rapidly, driven by factors such as increasing trade, e-commerce growth, and government initiatives to improve infrastructure and regulations. The industry faces challenges such as inadequate transportation infrastructure, complex regulations, and a shortage of skilled labor. The government has launched several initiatives to modernize the industry, including the development of the National Logistics Policy and the National Multi-Modal Logistics Parks.

    The Indian logistics industry has been growing quickly, and by 2025 it is expected to reach a value of $380 billion.

    For this Interview, we invited Parag Aggarwal, Co-founder & CEO of GoBOLT, where we talked about the growth, challenges, insights, and future opportunities in the logistics industry.

    StartupTalky: Parag, what products does your company sell? What was the motivation/vision with which you started?

    Parag: GoBOLT is an end-to-end tech logistics firm aimed at improving the responsiveness/speed of the supply chain together with optimizing the cost. We provide operational services like express transportation solutions, and distribution solutions together with pure technology solutions to optimize the client’s supply chain. The organization was started with a vision of removing the inefficiencies in the supply chain and reducing the time to customers by 50 percent. With ever-changing industry dynamics and regulatory framework support, we believe the Indian supply chain system will soon be comparable to global benchmarks in terms of speed and cost.

    StartupTalky: What other products/features have been added in the past year? What is/are the USP/s of your products?

    Parag: GoBOLT started as a tech-enabled organization using technology for efficient and effective operations. From the last couple of years, as an organizational strategy, we forayed into a pure-play technology business that provides optimization solutions to clients’ supply chains without operational support. It has helped us to get a view of different types of supply chains across the industry. As a combination of operational expertise and technological solutions, GoBOLT is growing at a faster pace providing end-to-end solutions to its clients.

    StartupTalky: How has the logistics industry changed in recent years, and how has your company adapted to these changes?

    Parag: Logistics as an industry has been very dynamic with respect to technological interventions and regulatory guidelines in the last few years. It was earlier an ignored sector that was marred by a lack of technology and the presence of a huge number of intermediaries. But the market opportunity of almost 200 billion dollars has led to a lot of new-age companies trying to improve the sector together with support from the government with respect to policies like ULIP, ONDC, etc. The sector from the last few years has become a priority sector across the ecosystem.

    List of Top 13 Logistics Startups in India
    The logistics industry in India is growing day by day. Here is a list of the top logistics startups in the country that are leading the industry.
    StartupTalkyAshwini

    Parag: The latest trends can be easily gathered by being a part of different forums. GoBOLT as an organization is a member of many government and private forums which helps us in staying updated. In fact, we were invited by the government of India for the launch of the ULIP policy.

    StartupTalky: What key metrics do you track to check the company’s growth and performance?

    Parag: GoBOLT has always focused on profitable growth and not just growth. We as an organization track both our topline and bottom line together with some hard-core operational parameters like Asset utilization, On-time Performance. We believe that to make an impact on the logistics sector, it is very important that the growth is in the right direction and quality of revenues is tracked.

    StartupTalky: What were the most significant challenges your company faced in the past year and how did you overcome them?

    Parag: We have been facing challenges like fuel price hike which has been the major cost factor of the whole industry. This contributes to more than 50 percent of our cost and its variability has been the biggest challenge across the industry. We as an organization went with a direct fuel supply agreement with Oil Marketing companies and implemented various fuel storage strategies to counter the variability.

    StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack which you pulled off.

    Parag: GoBOLT is more into the B2B space in which the customers are focused on cost and service levels. We ensure that we are continuously innovating at the back end to drive operational efficiencies and pass on the cost benefits to our clients and attain cost leadership. Our state of art in-house technology ensures that service levels are tracked and monitored. We as an organization, have been adding customers since our inception and have not lost any due to our focus on cost and service.

    StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack which you pulled off.

    Parag: GoBOLT has an in-house tech team that develops products as per our client’s requirements. We focus on algorithm-based solutions and use data science tools for getting the correct output. We believe that in a few years, the adaptability of AI and ML in the supply chain will increase multi-fold.

    StartupTalky: What opportunities do you see for future growth in your industry in India and the world? What kind of difference in market behavior have you seen within states in India?

    Parag: Logistics is a 200 billion dollar industry in India that is growing at 9 percent CAGR. The industry is highly intermediated with not even one player having a double-digit market share. There is a lot of growth opportunity in India in which even a 5 -10 percent market share will make you the market leader.

    StartupTalky: What lessons did your team learn in the past year and how will these inform your future plans and strategies?

    Parag: The way Covid hit the industry has been a learning for each and every individual. It led us to a completely uncertain environment with different rules of business. For robust growth, it is essential that the business strategies are flexible and the speed of the decision-making goes in tandem with ever-changing external dynamics.

    StartupTalky: How do you plan to expand the Customers, product, and team base in the future?

    Parag: We are at an ARR of 400 crores with an employee base of 250 + people. We are focusing on growing profitably and growing to annual revenues of 1500 cr in the next few years with a combination of organic and inorganic growth via acquisition.

    StartupTalky: One tip that you would like to share with people reading this article who want to get into entrepreneurship?

    Parag: I think holding your ground and believing in your vision is the most significant thing in the start-up journey. There will be ups and downs but these things are very temporary and everything falls into the right place eventually.

    We thank Parag Aggarwal for spending his valuable time and sharing his learnings with all of us.

    You can read other Recap’22 Interviews here.

  • Our Vision Is to Send a 3D Printer to Every Home and to Educate at an Early Age Says Saloni Chandalia, Director, WOL3D

    StartupTalky presents Recap’22. This is a series of interviews in which we conduct in-depth discussions with founders & industry leaders to understand their growth in 2022 and their predictions for the future.

    3D printing is a process in which a digital model is used to create a physical object by adding successive layers of material. This is in contrast to traditional manufacturing methods.

    3D printing can be used to create a wide variety of objects, from simple toys to complex mechanical parts and even entire buildings. The technology has been used in a number of industries, including aerospace, healthcare, and manufacturing.

    It also helps reduce waste materials compared to other traditional methods. We can solve complex problems and create better products by using 3D printing. The global 3D printing industry is expected to grow at a compound annual growth rate of about 17% between 2020 and 2023.

    For this Interview, we invited Saloni Chandalia, Director of WOL 3D and we talked about the growth, challenges, insights, and future opportunities in the 3D Printing industry.

    StartupTalky: Saloni, what does your company do? What was the motivation/vision with which you started?

    Saloni: The company name is WOL3D India. The company is into education and innovation technology which is into 3D printing. In 3D printing technology, we sell printers that have a wide range. We have about 35 different printers. We manufacture the raw material which is the filaments that can be used in the printer and the 3D pens that can be used by kids beginning at the age of 5 to professionals.

    The motivation was a new age technology the 4th generation and there was a missing gap in the industry wherein 3D printing technology is widely used in India in commercial and the industrial application but for the consumers, the educators, the students, the direct customers it wasn’t available it was an untapped market. So our vision is to send a 3D printer to every home and to educate at an early age.

    StartupTalky: What is/are the USP/s of your product?

    Saloni: The USP of our product is it is affordable, reliable, and easy to use. Also, there are 3 product lines 3D Printers which have a wide range beginning at 14,000 and going up, 3D Pens that can be easily used by children beginning at the age of 5 and Filaments that are manufactured in India the USP is that they are made from biodegradable plastic.

    Saloni: So the 3D printing industry majorly was for commercial and industrial use. We wanted to bring 3D printing to the consumers and this is how the industry has changed. This is how Wol 3D has brought 3D printing to the consumer in India.

    StartupTalky: What were the most significant challenges your company faced in the past year and how did you overcome them?

    Saloni: The challenge the company has faced since its inception is that people did not know the technology, so basically educating the people and how we do that is we do a lot of exhibitions, we do a lot of free seminars, and went to a lot of educational institutes like IIT and design institutes and even to schools so to educate at a very early age. We do about 25 exhibitions a year in PAN India.

    StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack which you pulled off.

    Saloni: The best move we have done significantly is to set up India’s first 3D printing experience center wherein people can come and experience all different types of technology where they can get their first-hand experience.

    Top 10 3D Printing Startups In India Shaping The Future of 3D Industry
    The 3D printing industry has been gaining a lot of recognition lately. Let’s look at a few startups that are revolutionizing this industry.
    StartupTalkyArijit Karan

    StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack which you pulled off.

    Saloni: The strategies that we used are like I said seminars, exhibitions, and franchise models which have worked very well for us. Today we have 10 franchises in PAN India.

    StartupTalky: What are the important tools and software you use to run your business smoothly?

    Saloni: The software that we have is a centralized IVR system wherein we have a centralized number and it’s recorded where we track the queries coming in and the turnaround of all the orders. For the company’s growth and performance accounting analysis again is centralized. Monthly analyze the growth and the profitability ratio. We also analyze our revenue to advertising costs across all platforms online and offline.

    StartupTalky: What opportunities do you see for future growth in your industry in India and the world? What kind of difference in market behavior have you seen within states in India?

    Saloni: Opportunities for future growth in the industry in India we see have a big market for the consumer section. A lot of people are getting accustomed to using 3D printers. A lot of businesses and a lot of professionals will be using 3D printing for their commercial and personal use.

    StartupTalky: What lessons did your team learn in the past year and how will these inform your future plans and strategies?

    Saloni: Lessons the team learned in the past is to educate the customers the sales will follow. Our future plans and strategies are to expand to more cities and also set up more experience centers like the one in Mumbai so that the customers understand what the technology is.

    StartupTalky: One tip that you would like to share with people reading this article who want to get into entrepreneurship?

    Saloni: Follow your passion, and the money, sales or success shall follow.

    We thank Saloni Chandalia for spending her valuable time and sharing her learnings with all of us.

    You can read other Recap’22 Interviews here.

  • Maddie Amrutkar, Founder and CEO, Glad U Came, Pushes the PR Industry Forward With Pioneering Celebrity Gifting, Influencer Marketing, and Social Media Strategies

    StartupTalky presents Recap’22. This is a series of interviews in which we conduct in-depth discussions with founders & industry leaders to understand their growth in 2022 and their predictions for the future.

    Marketing and public relations (PR) are important components of a company’s overall strategy to promote its products and brand. Marketing refers to the process of identifying, anticipating, and satisfying customer needs through the creation, promotion, and distribution of products, while PR refers to the management of a company’s reputation and image, typically through the use of media and other third-party channels.

    Both marketing and PR play critical roles in establishing and maintaining a strong brand identity for luxury goods, helping to communicate the value and unique qualities of the products to customers, and building customer loyalty. Effective marketing and PR can also help companies navigate challenges and maintain their competitive position in a rapidly changing market.

    The global marketing and PR agency market is expected to grow at a compound annual growth rate of around 5-7% from 2021 to 2026, driven by factors such as the increasing importance of digital marketing, the growth of e-commerce, and the changing needs and preferences of customers.

    For this Interview, we invited Maddie Amrutka, founder and CEO of Glad U Came, and we talked about the growth, challenges, insights, and future opportunities in the Public Relations and Communications industry.

    StartupTalky: What does your company do? What was the motivation/vision with which you started?

    Maddie: Glad U Came creates Award-winning digital campaigns that get people clicking, sharing, and engaging the right audience at the right time. From innovative start-ups to global giants, we’re the go-to agency for contenders with a disruptor mindset. We understand that when you’re investing in something, you expect ROI.

    We are a creative, focused, and trusted PR and influencer marketing agency that develops ROI-driven campaigns to help your business reach its full potential.

    StartupTalky: What is/are the USP/s of your products?

    Maddie: We offer services like PR, Celebrity gifting, Influencer Marketing, and Social media marketing, and what makes us different is that we are pioneers in celebrity gifting in India, and we create well-planned strategies for our client’s growth.

    StartupTalky: How has the public relations and communications industry changed in recent years, and how has your company adapted to these changes?

    Maddie: As we go towards a digital world, it is critical to be informed about what is going on around us. We launched our sister company, Glad We Met, a talent management company where we manage celebrities and creators, and we perform digital PR for our clients because of this. Moving further in the realm of influencer marketing was a necessary choice because it is a growing industry.

    Evolution of Public Relations – How the Industry Started?
    Public Relations is the practice of managing and disseminating information from an individual or an organisation to the public to influence their perception.
    StartupTalkyKinnary Nensee

    Maddie: For our clients, we act as a “Thinking Partner” and are dedicated to lifelong learning. We follow strict procedures and provide excellent work and high-level advice. Our team makes use of a variety of media to reach the right audience and generate engagement that keeps your business top-of-mind.

    We understand the importance of SEO and hence we have optimized our website to garner the best clients.

    StartupTalky: What key metrics do you track to check the company’s growth and performance?

    Maddie: We have a Google Sheet where we track our employees’ progress and growth; the columns include what they achieve weekly, and we also have a RAG column to determine the progress.

    We also conduct daily opening and closing meetings to discuss the agenda of the day and keep up-to-date on the progress. And heads of departments have a daily meeting separately to figure out the team’s growth.

    StartupTalky: What were the most significant challenges your company faced in the past year and how did you overcome them?

    Maddie: As the Pandemic was a difficult time for all of us, especially as offices were in a complete work-from-home situation, it was challenging at the start, but after that, we also gave our employees the hybrid option of working so that their safety was also prioritized. We made meetings virtually possible for clients and employees so that nobody suffered.

    StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack which you pulled off.

    Maddie: We make sure to participate in awards and summits that help with networking and getting more business; also, LinkedIn plays a major role in getting leads because we actively post about our services and hiring. We also did PR for Lokmat Awards, which helped us garner 15 million views on Instagram.

    StartupTalky: What are the important tools and software you use to run your business smoothly?

    Maddie: We use apps like Razorpay to maintain all the employee activity like salary and holidays so that everything is well managed. Google sheets is another important part of our daily lives as it makes work easy and it is convenient to maintain trackers making it smooth and systematic.

    We also have an analytics and discovery platform driven by AI called HypeAuditor which can be used to uncover relevant influencers, learn more about their audiences, improve the return on investment for advertisers, and protect the integrity of influencer marketing.

    StartupTalky: What opportunities do you see for future growth in your industry in India and the world?

    Maddie: New technology can benefit in numerous ways. Startups focused on predictive analytics offer tools to help you adapt story angles for journalists based on interests, prior coverage, personalities, and trends, as well as anticipate the possibility that a journalist will cover your story. Tools for performing sophisticated sentiment analysis on media clips, social media messages, and other sources are also being developed.

    StartupTalky: What kind of difference in market behavior have you seen within states in India?

    Maddie: In March, e-commerce spending in Delhi climbed by 1%, while spending in Bengaluru increased by 2%. However, expenditure in Mumbai declined by 7 percent throughout the month. As the cost of living is comparatively high in Mumbai people end up paying more on rent especially post covid prices have gone extremely high, so you have to think about the target audience before implementing any strategies.

    StartupTalky: What lessons did your team learn in the past year and how will these inform your plans and strategies?

    Maddie: There will never be a single day in which everything goes perfectly, and some days can be very difficult. However, if you can keep a positive attitude and continue to look on the bright side, the challenging days can be an additional opportunity for growth in both your professional life and your life in general. So, making mistakes at the workplace is normal but make sure you learn from those mistakes and plan better in the future.

    StartupTalky: How do you plan to expand the Customers, product, and team base in the future?

    Maddie: We plan on tapping homegrown brands as well as luxury brands as our experience in both has been versatile. So we want our clients to get the right limelight in the digital space, and hence we plan such goal-oriented strategies. For our employees we provide leave, GUC is the first PR agency to give Period leaves. As women make up 90% of our workforce, thus we are aware of the need for
    menstruation leave. Hence we granted special leaves for the same to provide a healthy environment for our employees.

    StartupTalky: One tip you would like to share with people reading this article who want to get into entrepreneurship?

    Maddie: One of the most effective methods is to get ideas from other business owners in the early stage of development. Avoid competitive companies and trade your knowledge and expertise for theirs. This will make networking more mutually beneficial, maybe leading to future opportunities.

    We thank Maddie Amrutkar for spending his valuable time and sharing his learnings with all of us.

    You can read other Recap’22 Interviews here.

  • Jeevika Tyagi, Co-founder and CEO, aastey, Shares Insights on Building a Brand on the Foundation of Sustainability and Size Inclusivity

    StartupTalky presents Recap’22. This is a series of interviews in which we conduct in-depth discussions with founders & industry leaders to understand their growth in 2022 and their predictions for the future.

    The activewear industry in India has seen significant growth in recent years, driven by increasing health and fitness awareness among consumers, as well as the rise of athleisure as a fashion trend.

    The activewear market in India is highly competitive, with brands constantly introducing new products and technologies to appeal to consumers. In addition, the market is influenced by changing consumer preferences and trends, such as the increasing demand for sustainable and eco-friendly products.

    According to a report by the market research firm TechSci Research, the Indian activewear market is expected to grow at a compound annual growth rate of around 12% between 2020 and 2025.

    For this Interview, we invited Jeevika Tyagi, Founder & CEO of aastey, and we talked about the growth, challenges, insights, and future opportunities in the activewear industry.

    StartupTalky: Jeevika, what products does your company sell? What was the motivation/vision with which you started?

    Jeevika: The idea of aastey was born amid the pandemic. We realized the morose atmosphere around us had begun to affect our mental and physical health. Women were already living under a mountain of responsibilities, and the pandemic had just increased tenfold. As the days turned into months, we started seeing changes in the way we live our lives and started giving importance to things that we had started to take for granted.

    Through our research, we immediately saw a glaring need gap in the fashion industry, especially on how brands, even today, create mutually exclusive categories like petite and size to divide, isolate and exclude women across all age groups. Surrounded by brands that had limited availability in sizing and were continuously producing clothes that were harmful to the environment, we wanted to create something polar opposite, something that offers a counter-culture to fast fashion culture.

    Keeping these things in mind, we decided to build a brand on the foundation of two core values: sustainability and size inclusivity. We want to embrace everyone without judgment and want to give comfort priority over everything else. Thus, we created the term ‘live aastey’ which means to be fully present in every single moment.

    StartupTalky: What other products/features have been added in the past year? What is/are the USP/s of your products?

    Jeevika: aastey has a very robust design process oriented towards thorough research and development. Innovation is the backbone of everything we create at aastey. Therefore, we believe in hours of research and customer surveys to create our collections and merge them with our ethos.

    In the last two months, aastey has launched a range of new products. We launched a varied range of products in our club collection, including two soy wax vegan scented candles – the frosted dawn candle and the lilac garden candle, the eclipse stainless steel bottle, and the earthshine cork yoga mat. In apparel, we launched the slow-down organic cotton tees in two colors and added a new color to our existing jellybean and boomerang tank tops. We also launched a socks collection with two different styles – calf length and ankle socks. The collection is designed to highlight the pollution in our oceans with high-definition ocean-themed prints. We will soon be launching a cotton canvas tote bag along with an additional style in the socks collection.

    In 2023, we are planning to launch a varied range of product categories with sweatshirts, joggers, dry-fit t-shirts, wide-leg pants, dresses, and much more. We will also be adding to our existing leggings and t-shirt collections.

    StartupTalky: How has the activewear industry changed in recent years, and how has your company adapted to these changes?

    Jeevika: Globally, the activewear industry emerged as a breakaway from conventional sportswear and apparel targeted mainly toward women. The industry was quick to rise with its focus on making clothes that combine workout and street attire. By 2012, the global performance activewear market exceeded US $244 billion. While the activewear market had been steadily growing in India since the last decade, it got a big push during the lockdown and the recovery that followed.

    People wanted to wear something stylish but also more comfortable because of the intermeshing of their work and home lives. According to research analysis, the activewear market outperformed fast fashion, ethnic wear, and formal footwear since the onset of the pandemic. Now, it is estimated to reach Rs. 997.8 billion by 2024.

    How has AI Revolutionized the Fashion Industry?
    Revenue in the Indian Fashion segment is projected to reach $18.51 billion in 2022. Let’s find out how AI is revolutionizing the Fashion Industry.
    StartupTalkyPooja Uniyal

    Jeevika: When we decided to enter the activewear space, we knew we would find a lot of competition. We spent a year researching and developing the best sustainable blends. We believe that our continuous effort to make our brand sustainable, from manufacturing to packaging, sets us apart. By using timeless and classic designs and good quality fibers that are natural and ethically sourced, we have not only given longer life to the clothes but also minimized the carbon footprint we leave on the planet.

    We have also created active feedback and communication channels with our tribe to make the best decisions in our product design process. It’s not only about what kind of trends or designs they want aesthetically but also how we can make our products functional and useful for our community.

    Our research focuses on maximizing the performance and functionality of the
    products while making the least impact on our planet. This includes research across domestic and international brand research. The research is done to check trends across markets and brands, price points, fabric, colors, prints, etc. After that, we do a WGSN (formerly Worth Global Style Network) for direction in fashion trends, fabric, colors, and prints.

    Once our research is complete, we move on to creating mood boards, color boards, and theme boards that resonate with our brand’s voice. Once the designs are read, they are shortlisted for sampling, and then the selected samples are shortlisted for production.

    We also put in a lot of time and research in creating the perfect stretch and feel for our aastey in-house organic and recycled fabric blends.

    StartupTalky: What were the most significant challenges your company faced in the past year and how did you overcome them?

    Jeevika: Starting a sustainable activewear brand comes with its own challenges but as a business, we have learned that our customers (our aastey tribe) are always right and customer service is the most important thing in making a business big.

    Learning from this, we have created active feedback and communication channels with our tribe to make the best decisions in our product design process. It’s not only about what kind of trends or designs they want aesthetically but also how we can make our products functional and useful for our community.

    StartupTalky: Repeat purchase is one of the most important parameters on which most e-commerce brands are betting. How do you keep your customer engaged to stop churn?

    Jeevika: The focus is on comfort and size inclusivity. One thing we have understood is that our customers want to feel their best in everything they do. And in India, we have a huge market. We have to understand every body type can be catered to and that’s exactly what we are doing here.

    Everything is about our tribe – a community of women with unique personalities and lifestyles. They have different perspectives on being active and are multifaceted in their values. They believe that there is joy in living in the moment and having a mindful life without putting unrealistic expectations on yourself.

    We have a plethora of different sizes. The fabric is comfortable and body-friendly, this is what brings the customers back to us. You tell us what you want and we will make sure that you’ll love it!

    StartupTalky: What opportunities do you see for future growth in your industry in India and the world? What kind of difference in market behavior have you seen within states in India?

    Jeevika: The response from Tier 2 and Tier 3 has been similar to that of Tier 1. Our top cities include tier 2 cities, with Pune, Lucknow, Hyderabad, and Ahmedabad being neck to neck with the response from Delhi. Our extreme uplift leggings are the best seller product that is being sold equally in all parts of India. Mumbai is our largest market.

    StartupTalky: What lessons did your team learn in the past year and how will these inform your future plans and strategies?

    Jeevika: As per aastey’s next steps, we plan to be the category leaders in the sustainable athleisure space. We spent more than a year developing sustainable and internationally competitive products and we plan to compound on this experience and offer solutions to make women’s lives better. Currently, we utilize recycled fabrics or organic fabrics in 100% of our clothing. Our pledge is to create a closed-loop cycle for all our products and we aim to be completely sustainable by 2023.

    aastey seeks to make a difference by creating the most comfortable yet sustainable apparel, no matter the woman’s size, color, or shape. This is why we also plan to create a standardized size chart across India which is a massive task considering our country’s diversity.

    Our next steps will always be towards expanding our community by crafting more solutions to support and uplift themselves, including exploring other lifestyle spaces. aastey’s Research and Development will focus on continuously innovating with sustainable fabrics and creating original blends that are sustainable but also that create the best experience for their tribe.

    StartupTalky: How do you plan to expand the Customers, SKUS, and team base in the future?

    Jeevika: The best thing about 2022 was that we fully launched aastey, after planning, researching, and building it for more than a year. We have nurtured it to become an extension of our vision of creating an equal space for all women across the country. We and just like that now we are a community of more than 50k women all across the nation. Our team too is ever-growing. We are true to who we are serving – our customers and keeping their needs first.

    StartupTalky: One tip that you would like to share with another d2c founder?

    Jeevika: As advice, I would just say that don’t stop yourself from looking for a bigger dream. I know it sounds like a cliche but women usually do sell themselves short, mostly because society doesn’t always appreciate us for wanting big. But trust me when I say this, everything falls into place when you believe in yourself. So I would say do not give up no matter what.

    We thank Jeevika Tyagi for spending her valuable time and sharing her learnings with all of us.

    You can read other Recap’22 Interviews here.

  • Top 9 Must-Have Mobile App Development Tools In 2023

    Traditionally associated with gaming and information, mobile apps today are becoming an essential part of every business to keep the users informed and engaged with the company. These have turned out to be a great way to increase the customer base as well as expand your brand reach.

    However, mobile app development is a time-consuming and expensive process involving many other complications. Due to this, mobile app development tools are gaining immense popularity across the globe and their market is growing exponentially. As per a survey by Statista, the revenue in the app development software segment is projected to rise to 166.20 billion dollars in 2023. These tools let you build mobile apps without wasting much of your precious money and time.

    With the increasing popularity of mobile app development tools, the market is getting loaded with these tools each of which has its own unique and innovative features. The overwhelming number of options has made choosing the right tool suitable for your needs difficult.

    In this blog, we have brought you the top 9 mobile app development tools expected to rule the market in 2023.

    Best Mobile App Development Tools

    The best mobile app development tools make the work easier for developers while making the process cost-effective for businesses. Here is the list of the best tools for 2023.

    Xamarin
    Ionic
    Apache Cordova
    Appypie
    Buddy
    Appery.io
    Sencha
    QT
    Swiftic

    Xamarin

    Website Dotnet.microsoft.com/en-us/apps/xamarin
    Rating 4.4 out of 5
    Platform Android, tvOS, watchOS, macOS, Windows, and iOS
    Free Trial Completely free
    Xamarin - Best Mobile App Development Tool
    Xamarin – Best Mobile App Development Tool

    Developed by Microsoft it is a free, open-source, cross-platform with .NET and C#. It is used by developers to build an ecosystem that includes API, backend, components, and more. It is capable of using the existing business logic layers and data access across platforms. Being a Microsoft product it provides safety against critical safety threats and provides regular technology updates.

    Key Features:

    • Features like refactoring, code editing, debugging, testing, and cloud publishing
    • Mono framework that allows communication with mobile APIs
    • It makes coding easier through platform-specific IntelliSense
    • High-performing shared libraries can also be created
    • Capable of integrating with SQLite, MYSQL, SQL Server, DB2, PostgreSQL, and more
    • Strong and scalable mobile apps can be developed with QA and testing features

    Pros:

    • Complete hardware support
    • MVC and MVVM architecture compatible
    • Open-source and free
    • Easy maintenance

    Cons:

    • Least community support
    • UI development is not mobile friendly

    Pricing:

    Xamarin is a completely free mobile app development tool. There are no fees or licensing costs, including for commercial use.

    Ionic

    Website Ionicframework.com
    Rating 4.4 out of 5
    Platform Android, iOS, and Windows
    Free Trial 14 Days
    Ionic – Best Mobile App Development Tool

    It is an open-source mobile UI toolkit that is free to use. It helps in building high-quality cross-platform mobile apps from a single code base. It is loaded with state-of-the-art features and capabilities to construct interactive applications. It is known for creating strong and feature-rich native applications. It uses native SDKs and native app UI guidelines.

    Key Features:

    • Allows integration of UI elements such as forms, filters, list views, navigation menu, and others
    • Hybrid app development framework used for building native mobile as well as progressive web apps
    • Integrates seamlessly with Rollbar, LogRocket, Pingidentit, Sentry, and Microsoft Active directory
    • A single codebase reduces the cost of app development
    • It includes components from HTML, Javascript, and CSS
    • Can be used to create native app binaries on the cloud

    Pros:

    • Bug fixes, app updates, and content changes can be delivered without MDM approval
    • Pre-built workflows and industry-specific defaults to automate development tasks.
    • Live activity feeds are available on a shared, central dashboard
    • Easy to use with plenty of UI components

    Cons:

    1. Unclear error messages make debugging apps difficult and time-consuming.
    2. Sometimes the built apps crash without any reason.

    Pricing:

    Ionic offers two pricing plans: Basic and standard. Have a look at the pricing details of each package.

    Plan Monthly Price
    Basic $499/month
    Standard $2499/month

    Apache Cordova

    Website Cordova.apache.org
    Rating 4.3 out of 5
    Platform Android, iOS, Windows, OS X, Electron
    Free Trial Completely Free
    Cordova - Best Mobile App Development Tool
    Cordova – Best Mobile App Development Tool

    Formerly known as PhoneGap. It is a cross-platform mobile app development tool that works across multiple platforms, irrespective of the operating system on these devices. It is adaptable to hardware components such as GPS, accelerometer, camera, etc. owing to its core languages viz. CSS3 and HTML5.

    This tool also integrates several libraries with existing code and functions making the app development process faster and easier. Its functionality can be further improved through the inbuilt plug-in architecture.

    Key Features:

    • Capable of integrating with libraries for improved app development
    • Lets you create applications without any specialized knowledge
    • It is compatible with CSS3, HTML5, and Javascript
    • It allows you to design as well as distribute apps across all mobile platforms
    • Makes application development time and money efficient
    • It brings uniformity through cross-platform app development

    Pros:

    • Open source platform available free of cost
    • A powerful backend makes the app development process faster
    • Each of its apps acts as a native app
    • Easy to work with plugins in the repository

    Cons:

    • Does not support plugins with hooks causing functionality blockage
    • Its APIs and plugin complexity make it inappropriate for hardware-intensive tools

    Pricing

    Apache Cordova is a completely free and open-source mobile app development tool.

    Appypie

    Website Appypie.com
    Rating 4.7 out of 5
    Platform Android, iOS
    Free Trial 7 Days
    Appypie - Best Mobile App Development Tool
    Appypie – Best Mobile App Development Tool

    It is a premium mobile app development tool especially useful for people without good coding knowledge. It is easy to use and provides several options for app development. The app designs are already available in the software, the developer only needs to personalize it by adding required features and then, publish the app on Playstore.

    It has a simple interface with drag and drop system that lets you add features such as AI, AR, VR, or chatbots. Training videos and learning platforms are provided for the guidance of the user.

    Appy Pie App Builder | Make your app for free

    Key Features:

    • It allows you to develop multilingual apps
    • Integrates seamlessly with MS excel and warehouse
    • Supports HTML, CSS, and Javascript
    • Light-weighted app with attractive color schemes
    • Offers social integration without any hassle
    • Allows GPS location tracking

    Pros:

    • Professional grade quality and performance
    • Framework-based app development gets the work done faster
    • Ability to deploy real-time updates and offline access

    Cons:

    • The app is expensive and makes you pay even for images
    • No other language for customer support but English

    Pricing:

    Appy Pie offers three pricing plans: Basic, gold, and platinum. Have a look at the pricing details of each package.

    Plan Monthly Price
    Basic $16/month
    Gold $36/month
    Platinum $60/month

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    Buddy

    Website Buddy.works
    Rating 4.7 out of 5
    Platform Android, iOS
    Free Trial 14 Days

    It is one of the easiest and fastest continuous integration/continuous deployment mobile app building tools owing to its pre-configured actions and services. It is recognized as the minimum friction platform. It allows you to build, test, and deploy apps as well as websites. It has the ability for flexible and seamless expansions.

    Key Features:

    • Smooth configuration through GUI AND YAM
    • Features such as parallelism, advanced caching, and complete automation are available
    • Provides continuous deployment on BitBucket, GitHub, GitLab, and others
    • More than 150 actions for building iOS and Android apps
    • Expansion of the codebase is possible through APIs
    • Google Digital Ocean, AWS, WordPress, and Azure integrations

    Pros:

    • Best-in-class build environment
    • Intuitive and super clean UX/UI
    • Supports all languages and task managers
    • Easy to set up and train

    Cons:

    • No proper documentation or training videos
    • Does not show the failed executions

    Pricing:

    Buddy offers four pricing plans: Free, pro, hyper and enterprise. Have a look at the pricing details of each package.

    Plan Monthly Price
    Free Free (for 5 projects)
    Pro $75/month
    Hyper $99/month
    Enterprise $175/month

    Appery.io

    Website Appery.io
    Rating 4.4 out of 5
    Platform Android, iOS
    Free Trial 14 Days
    Appery.io - Best Mobile App Development Tool
    Appery.io – Best Mobile App Development Tool

    It is a multipurpose low-code app development and maintenance platform that enables users to create web apps, mobile apps, and Progressive Web Apps (PWAs) easily. It is a cloud-based platform that features a highly sophisticated visual app-building tool. It is loaded with several attractive templates so the user does not have to start from scratch.

    Also, it provides an excellent support system through features like responsive web applications and integrated backend services. It is used by some leading organizations such as AT&T and Samsung.

    Key Features:

    • It is compatible with HTML5 and Javascript
    • Allows multiple apps from the same codebase
    • Flexible and extensible mobile app development platform
    • Drag and drop interface makes it easy to use
    • Increased turnaround time with a faster and cheaper development process
    • Allows changing configurations independent of pre-existing settings

    Pros:

    • Allows to create native apps from various platforms
    • Step-by-step guidelines are available with on-site tutorials
    • Responsive app support with multi-platform as well as premium support

    Cons:

    • Basic knowledge of the ionic framework is required
    • It is a high-end solution with the plans costing higher than most other tools

    Pricing:

    Appery.io offers four pricing plans: Beginners, pro, team, and ultimate. Have a look at the pricing details of each package.

    Plan Monthly Yearly
    Beginners $25/month –
    Pro $99/month $70/month
    Team $200/month $135/month
    Ultimate $600/month $500/month

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    Sencha

    Website Sencha.com
    Rating 4.1 out of 5
    Platform Android, iOS, Blackberry
    Free Trial 30 Days

    It is an ideal tool for users looking to design native apps. It is a rapid mobile app development tool quite suitable for building enterprise applications. Owing to MVC based framework the developers can use it through fingertip touch, which further increases app responsiveness.

    Key Features:

    • It is a Javascript and HTML5 framework tool
    • UI widget for lists, menus, and toolbars is commercially supported
    • A complete testing solution for Ext JS
    • A single code model is used across all the components
    • Least dependency on multiple versions and libraries
    • Superior community strength

    Pros:

    • Focuses on integrating high-quality responsiveness for a great touch experience
    • The apps are faster, easier, and more convenient
    • Supports all sorts of mobile app development
    • It has a vast array of charts, pre-built components, and a data grid-based solution

    Cons:

    • It has a huge learning curve
    • From the licensing point, the tool is quite expensive

    Pricing:

    Plan 1 Year 2 Years
    Pricing $1295/developer $1545/developer

    Sencha also offers volume-based discounts based on the number of developers.

    QT

    Website Qt.io
    Rating 4.3
    Platform iOS, Android, Windows
    Free Trial 10 Days
    QT - Best Mobile App Development Tool
    QT – Best Mobile App Development Tool

    It is a cross-platform software design and development tool that closes the gap between designers and developers by making them work with a unified framework, simultaneously, in a common language. Other than app development it also takes care of tasks like building, localization, compiling, and more.

    It is equipped with quality assurance tools that help improve the performance, design, and reliability of the apps. It is a powerful and compact software loaded with intuitive tools and libraries.

    Key Features:

    • New classes for windows and rendering
    • Support for opaque private keys is provided
    • Integrates seamlessly with Zephyr, Azure DevOps, Atlassian Confluence, and Jira
    • It offers framework essentials, design tools, add-ons, and more
    • It supports dual mode and IPv6 networks

    Pros:

    • Implemented with Parser and Compiler optimizations
    • A great workaround for infested SSL servers
    • A vast community of experienced developers
    • Customer support is available via chat, phone, and contact forms

    Cons:

    • The meta-object compiler makes the entire process complicated
    • The lack of platform support evokes a set of complexities

    Pricing:

    QT offers two pricing plans: Professional and Enterprise. Have a look at the pricing details of each package.

    Plan Monthly Yearly
    Professional $362/month $3620/yr
    Enterprise $409/month $4090/yr

    Swiftic

    Website Swiftic.com
    Rating 1.5 out of 5
    Platform Android, iOS
    Free Trial 30 day money back guarantee
    A screenshot of the Swiftic dashboard
    A screenshot of the Swiftic dashboard

    It is an iOS or iPhone app development platform that has a user-friendly, easy-to-use interface making platform navigation very simple. All its plans come with a 30-day money-back guarantee and a 6-month success guarantee. 6 months of free service are provided in case of unsatisfactory results.

    It helps you to reach out to the customers by sending them eye-catching push notifications and is known for bringing real business and greater customer loyalty. A success team is available for guidance at every step.

    Key Features:

    • Customer support through multiple channels such as chats, email, and contact forms
    • Offers such as scratch cards, in-app coupons, catalogs, ordering, deliveries, etc. are also available
    • Designs custom apps and loyalty programs for businesses
    • Publishes apps on leading app stores
    • Integrates seamlessly with Google Cloud and AWS
    • Compatible with Java, Python, and HTML

    Pros:

    • User-friendly interface with free tutorials and resources
    • Simple and easy-to-navigate editor
    • Plenty of options to engage and retain customers
    • You can change the theme without changing the content

    Cons:

    • The free plan can only be used until you publish the app
    • Template and theme choices are very basic

    Pricing:

    Have a look at the pricing details of Swiftic.

    Plan Monthly Yearly 2 Years
    Pricing $39/month $33/month $29/month

    Conclusion

    A good app development software allows you to customize a mobile app’s functions and add new features to it. The basic factors to consider before selecting a mobile app development tool include its usability, scalability, customization, architecture, price, integration, security, and performance.

    This blog has listed the top 9 mobile app development tools in 2023 for your assistance. Hope we could help you understand these apps and choose the best suitable tool for yourself.

    FAQs

    What is a mobile app development tool?

    Mobile App Development Tools are software designed to assist in the creation of mobile applications. The software is created for smartphones, tablets, and digital assistants, most commonly for the Android and iOS operating systems.

    What are the types of mobile app development?

    There are three basic types of mobile apps if we categorize them by the technology used to code them:

    • Native Apps
    • Web Apps
    • Hybrid Apps

    Which are free mobile app development tools?

    Although, most of the tools provide a free trial, Xamarin, Ionic, Apache Cordova, Appy pie, and Buddy are a few free apps.

    Which languages are popularly used for mobile app development?

    Java, Python, C++, Kotlin, and Rust are popular app development languages that are mostly preferred.

  • Mayank Goyal, Founder and CEO, moneyHOP, Revolutionizes Cross-Border Banking With Innovative Neo-Banking Solutions

    StartupTalky presents Recap’22. This is a series of interviews in which we conduct in-depth discussions with founders & industry leaders to understand their growth in 2022 and their predictions for the future.

    Neobanking, also known as “challenger banking,” is a type of digital banking solution that uses technology to offer banking services through a mobile app or online platform rather than through traditional brick-and-mortar branches.

    A full-stack cross-border neo-banking solution is a type of digital banking solution that offers a wide range of banking services and features to customers, including account opening, money transfers, bill payments, debit/credit card services, and other financial services. Additionally, this type of solution provides cross-border capabilities, allowing customers to make transactions and access banking services in multiple countries.

    The neobanking market in India is expected to grow at a significant rate in the coming years. The market for neo-banking in India is expected to grow at a CAGR of around 40% during the forecast period of 2021–2026, according to a report by Mordor Intelligence.

    For this Interview, we invited Mayank Goyal, Founder & CEO of moneyHop, and we talked about the growth, challenges, insights, and future opportunities in the Neobanking industry.

    StartupTalky: Mayank, what does your company do? What was the motivation/vision with which you started?

    Mayank: moneyHOP is a full-stack cross-border neo-banking solution that enables individuals to send and spend money conveniently and economically across the globe. The company provides a Multi-currency bank account and a Visa card via a mobile app through which users can seamlessly exchange currency on-app, in real-time at near zero markups, spend abroad in respective local currencies, and also do cross-border remittance entirely digitally via the app.

    moneyHOP aims to simplify cross-border banking and provide borderless banking solutions to global citizens. moneyHOP’s instantaneous, cost-effective, and user-intuitive contactless remittance service offers complete transparency and significantly reduces the total transaction costs of sending money abroad. All in all, moneyHOP’s state-of-the-art, tech-centric, customer-focused solutions are designed explicitly to build the next-generation digital banking platform that promises a never-seen-before cross-border banking experience.

    StartupTalky: What is/are the USP/s of your products?

    Mayank: USPs of the HOP App are:

    • One Multi-currency bank account for all international transactions.
    • Real-time currency exchange (GBP, Dollar, Euro)
    • Lightning speed Account set up
    • One app for all domestic and international transactions.
    • Debit+ FX cards are all available as One Global Card
    • Smart card controls
    • Best interest rates up to 6%
    • App-based digital remittances

    StartupTalky: How has the neobanking industry changed in recent years, and how has your company adapted to these changes?

    Mayank: The cross-border banking industry in India has undergone significant changes in recent years due to various regulatory and technological developments. Some of the key changes that have occurred include:

    Increased use of technology:

    The adoption of digital technologies has led to an increase in online banking and cross-border transactions, resulting in faster and more efficient services.

    Regulatory reforms:

    The Reserve Bank of India (RBI) has implemented various reforms to improve the regulatory framework for cross-border banking, including the introduction of the Liberalized Remittance Scheme (LRS) and the External Commercial Borrowings (ECB) framework.

    Increased focus on compliance:

    The RBI has implemented stricter regulations to ensure compliance with anti-money laundering and counter-terrorism financing laws, leading to increased compliance costs for banks.

    • Increased collaboration between banks and fintech to provide state of the art
      user experience for the end users at an economical price.
    • Increased transparency and digital experience for the end user.

    moneyHOP came into being at the cusp of the COVID-19 pandemic and hence
    everything that we have built is paperless, presence less, and cashless. It also happens to be one of the principles that we abide by and the vision that we want to propagate for cross-border banking in India. COVID-19 has acted as a catalyst in the digital adoption of cross-border banking including currency exchange, outbound remittance, etc because people wanted a product that they can use from the comfort of their homes and don’t want to expose themselves to the risk of catching the virus by visiting branches and filling in paperwork. We believe what demonetization did for the betterment of digital domestic banking, COVID-19 has done the same for the cross-border banking space.

    Mayank: There are a few things I do to be updated on the latest developments and trends in the net banking sector.

    Reading industry news and publications: Many trade publications and websites provide updates on the latest developments in the cross-border banking industry.

    Attending conferences and events: Conferences and events focused on fintech
    and neo-banking space provide valuable opportunities to learn about the latest
    trends and developments, as well as network with other professionals in the
    industry.

    Participating in professional organizations: Joining professional organizations, such as IAMAI or TIE can provide access to industry updates, educational resources, and networking opportunities.

    Upskilling: Continuing education courses and certifications to keep up with the latest technology and trends.

    StartupTalky: What key metrics do you track to check the company’s growth and performance?

    Mayank: Different business units within the organization have different KPIs to teach but overall we track month-on-month growth in transactions volume, total unique users acquired, repeat rate, cost of customer acquisition, profitability per channel, revenue growth, month-on-month fixed and variable costs, etc.

    StartupTalky: What were the most significant challenges your company faced in the past year and how did you overcome them?

    Mayank: One of the biggest challenges that moneyHOP faced last year is building our flagship product with the highly regulated nature of the financial services industry. In order to operate in this industry, one must navigate a complex web of regulations, including those related to licensing, data privacy, and financial inclusion. This can be a significant barrier to entry and can limit the ability of these startups to scale their businesses.

    To overcome this challenge moneyHOP took can a number of steps:

    • Partner with established financial institutions: In order to ensure credibility and avoid any regulatory hurdles we have partnered with established financial institutions like Visa and SBM bank. These partnerships provide the best of both worlds for the user: regulatory coverage of the bank and agility of the fintech.
    • Seek support from industry associations and accelerators: We have
      partnered with a number of fintech associations and accelerators such as IAMAI which provides us with guidance on regulatory issues and helps to connect startups with potential partners and investors
    • Invest in compliance and regulatory affairs: We have hired a team of legal professionals in order to ensure that the company and products meet regulatory requirements and avoid any potential legal and reputational risks.

    StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack which you pulled off.

    Mayank: moneyHOP has seen a 30% month-on-month growth over the last year and a half. We were able to achieve this growth through the combination of offline and online sales channels. moneyHOP not only uses digital channels like Google ads and social media for awareness and conversion campaigns but it has also partnered with several foreign education and foreign travel ecosystem partners across pan India, through which we obtain a high level of conversions.

    StartupTalky: What are the important tools and software you use to run your business smoothly?

    Mayank: There are a number of important tools that we use for our work are:

    • Customer relationship management (CRM) software: We use HubSpot as a CRM, to manage customer interactions and to collect data that can be used to track sales leads, customer inquiries, and customer service issues.
    • Project management software: We use Jira as a project management tool to, track, and collaborate on projects, assign tasks, set deadlines, and monitor
      progress.
    • Accounting and financial management software: We use Zoho books to manage financial transactions, including invoicing, billing, and payroll. It can also be used to generate financial reports and analyze business performance.
    • Human resources (HR) software: We use RayzorpayXPayroll to manage
      attendance, employee data, and benefits, and also to track employee time off,
      performance, and training.
    • Marketing/Product automation software: We use a lot of automation tools in the marketing and product side like Hubspot, Botspace, Mixpanel, etc to automate marketing tasks like push notifications, email campaigns, social media posts, and lead generation.
    • Collaboration and communication tools: We use Slack and Gmail for
      collaboration and communication with team members and partners remotely

    StartupTalky: What opportunities do you see for future growth in your industry in India and the world?

    Mayank: Following are the top 4 opportunities I see in the industry:

    Better Payment Rails: Fintech companies are leveraging faster payment
    mechanisms to offer seamless cross-border banking services. For instance, India
    and Singapore are working to link their payments system to enable low-cost
    digital transfers via UPI.

    With UPI, cross-border transactions can be completed quickly and securely, without the need for intermediaries such as banks or payment gateways. This can greatly reduce the costs and complexity of international payments, making it easier for individuals and businesses to conduct cross-border transactions. Additionally, UPI has the potential to facilitate cross-border trade and commerce, which can contribute to the growth of the Indian economy.

    Distributed Ledger Technology (DLT): Distributed ledger technology, also
    known as the blockchain, has the potential to revolutionize cross-border payments by providing a secure and transparent platform for financial transactions.

    By using a decentralized database, distributed ledger technology allows for the creation of a tamper-proof record of transactions that can be accessed by all parties involved.

    This eliminates the need for intermediaries thus facilitating the transfer of funds
    between countries, which can significantly reduce the cost and time required for
    cross-border payments.

    In addition, the use of smart contracts, which are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code can further streamline the payment process.

    While there are still challenges to be addressed, such as scalability and regulatory compliance, the adoption of distributed ledger technology in cross-border payments has the potential to greatly improve the efficiency and security
    of global financial transactions.

    Emerging markets: As economies in emerging markets continue to grow, there is an opportunity for cross-border banks to expand their operations and tap into new markets. This includes providing financial services to individuals and businesses in these markets, as well as partnering with local banks to offer joint products and services.

    New products and services: The cross-border banking industry is constantly evolving, and there is an opportunity for banks to innovate and offer new products and services to meet the changing needs of their customers. This could include the development of new payment methods, investment products, or financial education and literacy programs.

    StartupTalky: What kind of difference in market behavior have you seen within states in India?

    Mayank: The level of financial literacy is directly correlated to the adoption of digital financial services. This is less dependent on states but rather on cities where the overall education level is higher.

    We have also observed that in cities where primary education is better, the adoption across the age spectrum is high since the younger generation help the older population migrate to digital solution.

    StartupTalky: What lessons did your team learn in the past year and how will these inform your future plans and strategies?

    Mayank: One key learning we have had in the last few years is that the key to building a successful business is having deep conviction in the vision and following it with perseverance and grit. The market conditions will change over the course of the business but it’s important to follow your vision supported by the data.

    We started this business in Jan 2020, not knowing that it could possibly be the worst time in the last century to start a cross-border business but we stuck to our conviction and have seen a big turnaround in our business.

    StartupTalky: How do you plan to expand the Customers, product, and team base in the future?

    Mayank: We want to offer a truly a global banking experience for consumers and businesses in emerging markets and to that end, we want to hire folks who believe in this vision and can help us make this vision a success.

    We are expanding our teams in London and Dubai to make sure we have global coverage for our global products.

    Lastly, we want to do more work around direct-to-consumer marketing in order to build brand awareness and become a household name for cross-border banking products.

    StartupTalky: One tip that you would like to share with people reading this article who want to get into entrepreneurship?

    Mayank: Starting a business can be a challenging but rewarding experience. Here are some tips that may be helpful for those who are considering entrepreneurship:

    1. Do thorough research and planning before launching your business
    2. Be willing to take risks and be persistent.
    3. Network and seek out mentors
    4. Stay up to date on industry trends and changes
    5. Find solutions to problems, not the other way around

    But most importantly don’t chase valuations. Build a sustainable and profitable business and money will follow. Be true to your vision.

    We thank Mayank Goyal for spending his valuable time and sharing his learnings with all of us.

    You can read other Recap’22 Interviews here.

  • Krishna Kumar, Founder and CEO, Learnbay, Providing Comprehensive Data Science, AI, and ML Education With Career Advancement Support

    StartupTalky presents Recap’22. This is a series of interviews in which we conduct in-depth discussions with founders & industry leaders to understand their growth in 2022 and their predictions for the future.

    Career coaching and upskilling are professional support services that help individuals identify their strengths, skills, and interests and guide them in finding and pursuing meaningful career paths. The goal of career coaching is to help individuals achieve career satisfaction and success.

    The career coaching industry is a rapidly growing field that provides support to individuals seeking help with their career development and job search. The career coaching industry has evolved with the use of technology and has increased the accessibility of career coaching services while also making them more affordable for individuals seeking career support.

    According to a report by Grand View Research, the global EdTech market was valued at $252.7 billion in 2020 and is expected to grow at a CAGR of 7.8% from 2021 to 2028.

    For this Interview, we invited Krishna Kumar, Founder & CEO of Learnbay, and we talked about the growth, challenges, insights, and future opportunities in the Ed-Tech industry.

    StartupTalky: What does your company do? What was the motivation/vision with which you started?

    Krishna: Learnbay was founded to offer young aspirants and working professionals high-quality education. There is a common fallacy that someone without a technical background cannot work in the IT business, or, more accurately, cannot have a profitable career. Learnbay aids students in expanding a pleasant job, profitable pay, and constant professional advancement in the Information and Technology industry to overcome this unsatisfied mindset.

    Our team started the business in November 2015 with Mrs. Nisha Kumari, Mr. Abhishek Gupta, and me. The goal is to offer complete career coaching and assistance to professionals looking to make smart and successful career changes. LearnBay was founded to provide those who are already employed access to the in-demand skills they need to pursue expanding professions. Though conceptual knowledge is essential, practical skill and insight should supersede, we created Project Innovation Labs to meet this demand.

    At LearnBay, we assist candidates looking to enhance their skills through challenging industry-based live projects and capstones. Live interactive classes, facilitated by experienced MAANG experts, and peer-to-peer discussions provide students with a university-level learning experience in the comfort of their own homes. We are committed to providing an effective learning environment for professionals.

    StartupTalky: What is/are the USP/s of your product?

    Krishna: Learnbay has upgraded its workforce with experienced trainers and successful working professionals with the aid of Data Science, AI, and ML courses offering Data Science, a Full Stack Development Program, and a DSA & System Design Program, thereby putting a star on the company’s name.

    Learnbay provides industry-recognized certificates not only for course completion but also for project work and micro-skills through IBM to help individuals get the job. The live faculty with one-on-one discussion sessions and hybrid learning mode, where learners can learn via live online classes as well as can do the capstone project in offline mode is the major USP.

    We have such centers in multiple cities like Chennai, Bangalore, Pune, Mumbai, Hyderabad, Kolkata, and Delhi. At Learnbay, we have dedicated Career Counseling Coaches that help to reveal the best of data science career paths as per your educational and professional qualifications. Based on the current and targeted career stage, personal abilities, and interests, every aspirant gets a customized learning plan, modules, and assistance.

    StartupTalky: How has the ed-tech industry changed in recent years, and how has your company adapted to these changes?

    Krishna: The past 24 months have been crucial in the ed-tech field. Indian ed-tech companies prospered abroad, gaining significant momentum in both North America and South East Asia. This enabled them to generate more income and supply services that would have had limited demand at home. China banned for-profit tutoring services in 2021, which proved disastrous for Chinese EdTech enterprises.

    India gained as an alternative emerging market to invest in substantial quantities of global capital that had previously flowed into Chinese Edtech. While investment in China’s EdTech sector fell by 75% from 2020 to 2021, and funding in India’s EdTech market surged by 60% during the same period. Learnbay is passionate about delivering enough skills to fuel India’s growth and is committed to collaborating with the ecosystem to provide a strong training system for forthcoming skills required for successful enterprises. Learnbay seeks to contribute to India’s “Skills India” mission by providing students with opportunities to create meaningful jobs through interactions.

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    Krishna: The past 2 years have caused us to reconsider our strategy. Based on our findings, we divided the strategy into three axes: age group serviced, core work to be done, and paying customer persona. Businesses that are not directly involved in teaching but serve the education industry as a whole have been identified as catalysts.

    Instead of focusing on the revenue model (B2B versus B2C), we examine the underlying consumer motivations that influence how often and when they will pay, how they will identify the platform, and how they will engage with the product. We began with Python training seven years ago and subsequently discovered the huge need for data science and AI. Rather than asking the individuals to upskill in completely different professional courses, we provide professional training that typically supports you in growing the skills in your prior working domain to provide career progress and job security. Based on the changing nature of the employment market, we have now broadened our training to include full-stack software, web, and system design.

    StartupTalky: What key metrics do you track to check the company’s growth and performance? What were the most significant challenges your company faced in the past year and how did you overcome them?

    Krishna: The main challenge was to help several individuals convert their careers from service-based technical job profiles to product-based tech job profiles with significant pay raises. Learnbay accomplished a solid job in system design training from 2015 to 2017.

    However, there were a plethora of courses thriving in a related subject in the interim. Few of them offered certificates for the workplace or even for foreign countries. It was difficult for us to compete with them. Even though we offered live learning-supported end-to-end training, applicants were still more drawn to the industrial certification. Instead of focusing on the certification label, we started highlighting the project-based learning and hands-on learning components of our courses. IBM offered to engage with us for certification as a result of the hard effort. Later, at the start of 2020, we faced the most difficult task. We were quite concerned about the shifting nature of the data science employment market.

    But rapidly figured it out and introduced data science and AI courses with domain specialization. The present area of data science is suffering from a lack of domain-expertise experts. We now employ more than 30 trainers and subject matter experts from various MAANG companies and are much more equipped to provide our applicants with flexible, in-depth, and customized training. To track the company’s overall growth and success, Learnbay aims to touch 4x growth in 2023 by crossing a significant 100 cr revenue.

    StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack which you pulled off.

    Krishna: An innovative digital marketing campaign is known as “Peanut campaign: Earning in Peanuts” has assisted us in achieving a robust online presence. Organic SEO is the most suggested, efficient, and cost-effective traffic-generating method for our official EdTech website. Keyword research to guarantee that related keywords linked to our course contents have consistently positioned us on the top. Our long-format content even draws viewers’ attention to a certain topic and assists readers in finding solutions to all queries.

    UX, or user experience, is another key component of our marketing approach. To assist people in easily locating what they are searching for rather than relying on guessing, we maintain intuitive and useful navigation across the website. Learnbay has placed a lot of emphasis on social media, which is essential for improving audience engagement and establishing a unified brand experience across all touchpoints. The main growth hack of Learnbay is to help working people enhance their existing careers. We’ve already assisted over 10,000 professionals and intend to increase it to at least 30K in the upcoming six months. Quality content that’s well-researched and offers value for the business made a huge difference.

    StartupTalky: What are the important tools and software you use to run your business smoothly?

    Krishna: We use digital technology to help students study more effectively, enhance engagement, and improve achievement. It assists to streamline and customize lesson planning as well as tracking students’ development.

    Learnbay currently uses digital solutions such as education CRM, chatbots and live chat, application form manager, and so on. We are continually expanding our product and service offerings to guarantee that our students have everything they need to develop and bloom their technical abilities.

    StartupTalky: What opportunities do you see for future growth in your industry in India and the world? What kind of difference in market behavior have you seen within states in India?

    Krishna: After China and the USA, India has risen to become one of the top three nations in the world for receiving venture capital funding in the Edtech industry. The post-K-12 market is now experiencing considerable growth in the Edtechindustry, which was formerly dominated by the K-12 segment. The K–12, higher education, test preparation, and upskilling categories are anticipated to be the main drivers of the Edtech industry’s growth in India.

    However, for the industry to sustain steady development, stakeholders must improve the overall user experience. Stakeholders must address the demand for reasonably priced Edtech solutions to increase Edtech adoption. Rural India is slowly but steadily embracing Edtech platforms, creating new opportunities. Segments including online tuition and competitive test preparation might experience rapid development, especially in Tier 3/4 cities.

    Due to the price element, students from all socioeconomic backgrounds and social classes could receive a high-quality education that includes engaging visuals and expert teachers. Collaboration with governmental and non-governmental organizations and institutions has a significant positive impact on the adoption of EdTech within different states. Through programs like the SWAYAM program and DIKSHA, the Government of India is doing all in its power to advance online learning throughout the nation.

    StartupTalky: What lessons did your team learn in the past year and how will these inform your plans and strategies?

    Krishna: When we entered the market, our primary concern was to give students well-designed course elements so they could have successful careers. We gradually discovered that whereas experienced professionals (mostly non-techies) struggle a lot to advance in their careers and even maintain them, freshers get employment quite quickly.

    In 2017, when there was a tonne of websites offering a variety of online industry-based certificates, we were at the height of our popularity for python classes, but there were some substantial obstacles to overcome.

    The learner’s trust was our major point of concern. At first, we just paid attention to the caliber of the teachers, but subsequently, we learned that the highly efficient content management system and placement opportunities are also crucial. We implemented projects like project innovation labs, live learning, and domain specialization as a result of this insight (no need to change domain, just upgrade yourself.) For the next six months, we will strive to assist our students in pushing beyond the status quo of their current careers to drive tremendous advancement. At Learnbay, we are a firm believer in providing sufficient skills opportunities to fuel India’s employment growth.

    StartupTalky: How do you plan to expand the Customers, product, and team base in the future?

    Krishna: To retain the same effectiveness as offline classes for working professionals, we have greatly increased the number of online courses and introduced instructed-led live sessions. When we introduced our domain-specific
    data science course, we made a big change to maintain consistency and quality standards.

    We have introduced a few new courses on full-stack development, DSA, and data science as part of our ongoing development. These courses feature successful industrial-based projects and internationally famous IBM certifications. We will give more emphasis on assessing and upgrading the course modules in response to organizational sector needs by enhancing the industry-based interview calls and placements. To guarantee the availability of qualified personnel in the IT industry, Learnbay will offer cutting-edge tech upskilling and reskilling programs, such as
    the Full Stack Software Development program. We plan to increase our team base to 300 people and grow 4x in terms of revenue.

    StartupTalky: One tip that you would like to share with people reading this article who want to get into entrepreneurship?

    Krishna: Today’s technological market is expanding rapidly, and with the current situation, every enterprise should prioritize quality over quantity. Getting ahead in a business or leading an organization with high-quality products will undoubtedly help an entrepreneur achieve enormous success. Develop and advance your product from the customer’s viewpoint instead of the profit-related viewpoint. The revenue growth might pick up a bit, but it will become highly sustainable. Nowadays, companies are struggling to sustain themselves. So this becomes the most important factor for any entrepreneur.

    We thank Krishna Kumar for spending his valuable time and sharing his learnings with all of us.

    You can read other Recap’22 Interviews here.

  • Sanjay Kumar Kalirona, CEO and Co-founder, Gizmore, Attributes Brand Success to Technology, Quality, and Affordability

    StartupTalky presents Recap’22. This is a series of interviews in which we conduct in-depth discussions with founders & industry leaders to understand their growth in 2022 and their predictions for the future.

    Smart accessories are devices or products that are designed to enhance the functionality of other devices, such as smartphones or smart home systems. Examples of smart accessories include smart watches, fitness trackers, smart home cameras, and smart speakers. These accessories typically connect to the main device through Bluetooth or Wi-Fi and can be controlled through a mobile app or voice commands. They often have built-in sensors and can collect and transmit data, allowing users to track their activity, monitor their homes, or control other devices in their homes.

    The smart accessories market has been growing rapidly in recent years due to the increasing popularity of connected devices and the Internet of Things (IoT). The industry is expected to continue growing at a significant pace in the coming years.

    According to a report by MarketsandMarkets, the smart accessories market is projected to grow from USD 22.2 billion in 2020 to USD 38.8 billion by 2025, at a CAGR of 12.1% during the forecast period.

    For this Interview, we invited Sanjay Kumar Kalirona, CEO and Co-founder, Gizmore, and we talked about the growth, challenges, insights, and future opportunities in the Consumer Electronics industry.

    StartupTalky: Sanjay, what products does your company sell? What was the motivation/vision with which you started?

    Sanjay: We are in the business of smart accessories and home audio products.
    Operating in the hearable, wearable, and speakers categories, we started with the
    the vision of creating a trustworthy brand in the market that focuses on bringing the latest technology at an affordable price to every city in India.

    StartupTalky: What other products/features have been added in the past year? What is/are the USP/s of your products?

    Sanjay: We have launched a complete range of smartwatches that are Made in India and come with the latest features like Bluetooth calls, connectivity, and tracking. The latest Gizmore Amoled range of smartwatches – the Glow series – has been able to deliver on customer expectations and has achieved a positive response from the market. Our other innovative products, like neckbands with touch control, hall switch, and incoming call alert, have strongly impacted the segment. We have also launched a unified app for all our smartwatches and IoT devices in partnership with AI-based health tracking solution Tres Care.

    StartupTalky: How has the consumer electronics industry changed in recent years, and how has your company adapted to these changes?

    Sanjay: The industry’s most significant change has been that consumers expect the latest features at an affordable price. As manufacturers like Gizmore have been able to deliver on customer expectations, it has made the wearable category one of the most significant and fast-moving categories.

    There has been a dramatic shift towards online platforms. As part of our strategy,
    we have launched our D2C website recently. In addition, we are working closely with partners like Flipkart and other e-commerce players to build our online presence. Our primary focus is smartwatches, and we have ensured that our products are available across major channels.

    Sanjay: We work closely with our distribution partners and category buyers to understand the requirement of the market and customer expectations. This approach helps us to understand what the consumer is expecting. The latest trend in smartwatches is the Amoled display. It is a type of OLED display that contains thin strips of thin-film transistors (TFT) behind each pixel. As it provides a superior user experience, we have been able to offer an AMOLED display in Gizmore products to meet customer expectations.

    StartupTalky: What key metrics do you track for company growth and performance?

    Sanjay: We track the top-line sales growth and net margin retention to check the growth and performance of the company.

    StartupTalky: What were your company’s most significant challenges in the past year, and how did you overcome them?

    Sanjay: The most significant challenge for our business was the rising dollar cost and the difficulty in imports from China. We handled both these challenges by shifting our manufacturing to India and focusing on introducing Made in India products.

    StartupTalky: Repeat purchase is one of the essential parameters on which most e-commerce brands are betting. How do you keep your customer engaged in stopping churn?

    Sanjay: Our consistent focus on technology, quality, and affordable price points has ensured success for the brand. At the same time, we continue to add the latest features to our products. This approach has helped us build a loyal customer base that expects nothing but the best from us.

    StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack which you pulled off.

    Sanjay: We signed Dinesh Karthik as the brand ambassador for Gizmore. It has helped us to gain consumers’ trust and establish ourselves as a stable brand in the market. At the same time, we focused on expanding our online presence with a D2C website, partnership with Flipkart and other popular e-commerce brands and dedicated social media campaigns, and building an engaged audience on leading social platforms like Instagram.

    StartupTalky: What important tools and software do you use to run your business smoothly?

    Sanjay: We rely on our in-house CRM for customer service needs. We use BUSY for our accounting and billing requirements. These are some of the tools that help us run our business smoothly.

    StartupTalky: What opportunities do you see for future growth in your industry in India and the world? What kind of difference in market behavior have you seen within states in India?

    Sanjay: Smart accessories is an ever-evolving industry. As new technology comes in, it can generate its own demand in the market. It will continue in the future as well. The market will increasingly move towards branded products and the average selling price for the products in the categories we operate in will continue to increase.

    StartupTalky: What lessons did your team learn in the past year, and how will these inform your future plans and strategies?

    Sanjay: Our lesson in the past year has been to focus on the right product mix and offer adequate choices for the customers. We will continue to innovate.

    StartupTalky: How do you plan to expand the Customers, SKUS, and team base in the future?

    Sanjay: We plan to enhance our digital presence and, at the same time, build our offline presence. It will help to increase our customer base and SKUs in the market.

    StartupTalky: With so much hype around d2c brands spending on ads, What will be your growth strategy, organic or inorganic? How to plan to work around SEO and content marketing?

    Sanjay: For any D2C brand to be successful, the initial growth comes from an inorganic push with ad spending. Once the brand is established, it is time to sustain the momentum and go for organic marketing. We plan to focus on content marketing and SEO heavily in the near future.

    StartupTalky: One tip that you would like to share with another D2C founder?

    Sanjay: It is crucial to have patience, and numbers will follow gradually.

    We thank Sanjay Kumar Kalirona for spending his valuable time and sharing his learnings with all of us.

    You can read other Recap’22 Interviews here.

  • What is a Small Company: Definition, Characteristics & Tax Deductions

    A proposal submitted by the Finance Minister during the Union Budget of 2021 included the revision of the definition of what constituted a small company or business.  The aim behind the revision was to further provide ease of doing business and reduce the compliance burden for many small businesses in India.

    Following the proposal, the Ministry of Corporate Affairs (MCA) amended the definition of a small company by notifying the Companies Amendment Rules, 2021 (Specification of Definitions Details), under Section 2(85) of the Companies Act, 2013.  The new definition has been effective from April 1, 2021.

    The New Amended Definition of Small Companies
    Characteristics of a Small Company
    Tax Deductions for Small Companies

    The New Amended Definition of Small Companies

    The new amended definition states that – A small company that is not a public company and has –

    1. A paid-up share capital equal to or below INR 2 crore or such a higher amount specified not exceeding more than INR 10 crore.
    2. A turnover equal to or below INR 20 crore or such a higher amount specified not exceeding more than INR 100 crore.

    The following companies, however, do not fall under the purview of small companies –

    1. A holding or a subsidiary company.
    2. A company registered under section 8.
    3. A body corporate or company governed by any special act.

    Characteristics of a Small Company

    Small companies can be identified by these characteristics –

    Low Profitability and Revenue

    Compared to medium and large companies, a small company has less revenue that depends on the business itself and the capability to generate revenue. Lower revenue, however, cannot be considered lower profitability.

    Fewer Employees

    Small companies may be handled by a single person or a very small team.  This is due to lesser paid-up capital and turnover.

    Smaller Market Area

    Small companies have a smaller market area like a section within a community or society  An example of such companies is convenience shops in a rural township.

    Fewer Locations

    Small companies are limited to a particular area instead of several branches.  The sales of such a company are also confined to a single area.

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    Tax Deductions for Small Companies

    Income Tax Department - Official Website
    Income Tax Department – Official Website

    A business, no matter its size, is subjected to taxes by the government.  Hence, it is important for business owners to understand how to identify tax deductions that are relevant to their field of work.  This article lists some of the most significant tax write-offs for small businesses and helps business owners lower their income taxes.

    Business Meals

    A 50% tax deduction can be claimed on the cost of food and drinks if it is related to the business.  This can be done through a few documents that include the date and place of the meal and the cost of the meal. The details must also mention the meal partner related to the business.

    Business Insurance

    The costs of business insurance can be written off from tax returns significantly reducing small business tax. In case the office of the business is at home, the insurance cost can be deducted by the renter from the tax returns.

    All payments made outside of tax home on a business trip can be included in tax deductions for small businesses. These expenses include airfare, laundry bills, and everything in between.

    Salaries and Benefits

    On the assurance that the employee receiving a salary and the benefits is not a partner or the sole proprietor, the wages and benefits being given to said employee or employees and their vacation costs can be deducted from tax returns.  

    Real Estate and Mortgage Deduction

    Property taxes, up to a certain amount, including the taxes paid to state and local authorities for real estate can be claimed in tax deductions. These include interest payments for mortgage loans if used for repair or purchasing a house for business operations.

    Child and Dependent Adult Care Costs

    Expenses incurred in the care of children younger than 12 years can be written off as deductibles. Similarly, costs incurred to care for physically or mentally dependent adults are also eligible for tax deductions.

    Expenses Towards Business Operations

    Costs incurred for advertisements and promotion of business through print and digital media are deductible from taxable income. Funding for corporate and cultural events for clients and employees can be claimed as tax deductions if a relationship can be established between these expenses and the business itself.

    Medical Expenses

    Costs related to medical care and health insurance premiums can be claimed as tax deductions as well. These expenses are sizeable and include doctor fees, costs of prescription drugs, and other charges related to medical services.

    Vehicle Usage

    If the vehicle is utilized for fulfilling business processes, any costs incurred towards the maintenance and operation of the vehicle can be deducted from taxable income.

    Office Supplies

    Money spent for buying office supplies like pens, printers, paper, and any other stationery items can be deducted from tax returns. However, this amount can only be claimed in the same year as they were purchased. Shipping and postage costs related to the business can also be claimed as tax deductions.

    If the business is run from residential premises, then the tax-deductible amount is calculated at the prescribed amount as relates to income tax for small businesses.  However, this amount can only be included in the deductibles if the home office area is less than 300 feet.

    Other Investments

    Last but not the least, expenses or investments made in educational courses, seminars, and subscriptions to publications that help in enhancing business can also be included in tax deductions.

    Conclusion

    There are many other expenses that fall within the purview of tax deductions for which a tax consultant is the best guide.  However, small business operators need to be aware of all these tax deductions that are available for them as they help in saving substantial money, thereby increasing the revenue build-up of small businesses.

    FAQs

    How much income is tax-free for small businesses?

    Income up to 2.5 lakhs is the limit for small businesses to be tax-free in India.

    Do small businesses pay GST?

    Yes, GST is liable to small businesses also in India.

    What can small business claim as tax deductions?

    Some of the tax deductions that a small business can do are business meals, business insurance, office supplies, work-related travel expense, etc.