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  • Maruti Suzuki – History and Success in India [Case Study]

    The Indian automobile industry is one of the most competitive sectors in the economy. There are approximately 5000 car dealers in India wherein approximately around 11 – 12 cars are being sold every minute. Be it SUV or sedan, as the standard of living is rising in India, people feel like having a car is a necessity.

    In the past decade, the popularity of having cars has increased a lot. Due to the advancement in technology, cars have become affordable as well as eco-friendly. With the increasing needs of people in India, the competition in the automobile industry is beyond par. Even when there are many automobile companies in India who sell affordable, luxury all kinds of cars, there is one company that has always been on the top priority of people and that is Maruti Suzuki.

    Maruti Suzuki India Ltd has grown to be India’s largest passenger car company, which accounts for over 50% of the domestic car market. Maruti Suzuki is a subsidiary of Suzuki Motor Corporation, Japan, where the Japanese car company boasts of holding around 56.37% of stakes, according to the reports dated September 2020.

    The company offers a wide range of cars starting from entry-level cars to stylish hatchbacks and the most modern sedans including DZire, SX4, Grand Vitara, and more. It takes care of the business of the manufacturing, purchase, and sale of motor vehicles and their spare parts (automobiles). Furthermore, it is also engaged in the financing of cars and the facilitation of pre-owned car sales fleet management. The Maruti automobile company has 2 manufacturing plants in Gurgaon and Manesar in Haryana and 1 manufacturing complex in Gujarat. According to the recent announcement of the company in May 2021, the company is capable of manufacturing around 200 cars per day in total.

    In this Maruti Suzuki Case Study, you will know all about the History and Success of Maruti Suzuki in India.

    How Maruti Suzuki Started in India – History
    How Maruti Suzuki Became Successful
    FAQ

    Maruti Suzuki in India – History

    Maruti Suzuki was started back on February 24, 1981, to manufacture cars for middle-class Indians. The company was formed as a government company, incorporated as Maruti Udyog Ltd. with Suzuki as its minor partner. Maruti Udyog then signed the license and joint venture agreement with Suzuki Motor Corporation, Japan, on October 2, 1982, which began the start of the long-lasting and successful partnership.

    The company started its productions in 1983, which then came to be the choice of every Indian household. The first car it launched was Maruti 800. It was affordable back then and was thus incredibly popular. This model of Maruti is still considered to be a Maruti classic to date. Although the journey of Maruti Suzuki India Ltd. started off in a very different way.

    Maruti Suzuki – 1980

    In India, till the early 1980s, the government of India controlled the Indian automobile sector, and privatization did not enter yet. There were only two automobile companies – Premier Automobiles Ltd, which had their popular car, Premier Padmini, and Hindustan Motors Ltd, which made the Ambassador cars. Maruti Udyog Ltd. entered this era with Suzuki Motor Corporation as its minor partner.

    Premier Padmini Maruti case study
    Premier Padmini

    Maruti Suzuki – 1983

    Maruti Udyog signed a license and joint venture agreement (JVA) with Suzuki Motor Corporation of Japan in 1982. This is when the very first factory of Maruti Suzuki was established in Gurgaon, Haryana. In the first 2 years when Maruti was set up, the company was engaged in the importing of fully-built cars from Suzuki, which later grew to include only 33% native parts. This was not what the indigenous company had planned.

    Though Maruti was ready with the idea of its own manufacturing facility in India, the company couldn’t continue with its plan fearing the small market here in the subcontinent. Besides, our country was in need of producing fuel-efficient vehicles to meet the increasing demands as the local transport was inefficient. This is why the company thought of adjusting the petrol tax and also reduce the excise duty to ramp up their sales.

    Maruti Suzuki began its local production in December 1983 and introduced its Suzuki Alto (SS30/SS40), Suzuki Fronte, and Alto-based Maruti 800.

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    Maruti Suzuki – 1986-1987

    Maruti Suzuki came up with a new and powerful Suzuki Alto (SS80), a 796 cc hatchback, which replaced the former Maruti 800 model in 1986. The company also successfully manufactured its 100,000th vehicle in the same year.

    By this time the company was already recognized for its stronghold in the automobile and at the turn of the new year, Maruti Suzuki also began its foreign exports. It started with exporting a lot of 500 cars to Hungary

    Market Liberalization and Maruti Suzuki – 1991

    1991 was the year of the liberalization of the Indian economy and by then, the company witnessed around 65% of its components being indigenized. It was also in this year that Maruti further increased its stakes in Maruti. Maruti Udyog then became a 50-50 joint venture with the Government of India and a Japanese automotive company as stakeholders.

    Maruti Suzuki – 1994

    Maruti Suzuki saw the production of its 1 millionth vehicle in 1994 since it started manufacturing automobiles. This year also saw the inauguration of the second plant of Maruti. Furthermore, the automobile manufacturers also started their 24-hour on-road emergency vehicle service.

    Maruti Suzuki – 2000-2002

    Maruti emerged as the first Indian car company to launch a call center for its internal processes and customer service in the year 2000. The company also saw the release of many more models of its cars in the next 2 years that followed, including the Esteem Diesel, which was launched in 2002. Meanwhile, Suzuki Motor Corporation also increased its stake in Maruti, which now became 54.2%.

    Maruti Suzuki – 2003-2004

    The company started the year 2003 with the introduction of the Suzuki Grand Vitara XL-7 and upgrading its Zen and Wagon R models. Later in the same year, the company manufactured the 4 millionth Maruti vehicle and also entered started its new partnership with the State Bank of India. Moreover, the company was also listed on BSE and NSE after which it went public with issues that were oversubscribed tenfold.

    Maruti 800, which was the best-selling Maruti car till 2004 was overtaken by the incredible popularity of the Alto model after 2 decades in the same year. Maruti Udyog concluded the financial year 2003–04 with a record 472,122 units as its annual sale, which reached an all-time high since the company began operations.

    Maruti Suzuki – 2007

    On May 10, 2007, the government of India took an exit from the country’s largest car maker Maruti Udyog Ltd by selling the residual stakes, which amounted to Rs 2,360 crores to a bunch of financial institutions led by the Life Insurance Corporation. In July 2007, Suzuki decided to change the name of its subsidiary to Maruti Suzuki India Limited.

    Maruti Suzuki Logo Maruti case study
    Maruti Suzuki Logo

    Maruti Suzuki – 2012 and the Later Years

    Maruti Suzuki successfully sold its 10 millionth vehicle in February 2012. The company boasted of having a market share of 45% in July 2014 and then in May 2015, it witnessed the production of the 15 millionth vehicle in India with the launch of the Maruti Suzuki Swift DZire.

    Maruti Suzuki was cautious of the environmental factors and understood the need of embracing environmentally friendly automobiles. This is why the company declared that it would phase out the manufacturing of diesel cars by 1 April 2020. Furthermore, by this time the Bharat Stage VI emission standards also came into effect, which announced that the company must significantly invest in its diesel cars to comply with the stringent emission standards.

    The company plans to launch its first electric car in the second half of 2021, according to the reports. The car would be named Maruti Suzuki WagonR Electric, which is currently put to test.

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    How Maruti Suzuki Became Successful

    Maruti has carved its own league of success throughout the years that it has remained in business. The company now boasts of having 9 subsidiary companies in total, namely:

    • True Value Solutions Ltd
    • Maruti Insurance Agency Logistics Ltd
    • Maruti Insurance Agency Solutions Ltd
    • Maruti Insurance Distribution Services Ltd
    • Maruti Insurance Business Agency Ltd
    • Maruti Insurance Agency Services Ltd
    • Maruti Insurance Agency Network Ltd
    • J J Impex (Delhi) Pvt Ltd
    • Maruti Insurance Broker Ltd

    Maruti Suzuki had surely achieved great success. 5 Main things that ushered in the success of the company are – Affordability, Goodwill, Hatchbacks, Low Maintenance & NEXA

    Affordability

    In the early ’80s cars weren’t something that every Indian man or a middle-class family could afford. It was a luxury resource about which only a few people could dream. There weren’t many car companies since liberalization came late in India.

    When Maruti Suzuki entered the Indian market, the most prominent factor which made it the market leader at that time was the price of its cars. They were very successful in launching cars with excellent features at an Indian budget-friendly price which made it ‘people’s car’.

    Even to date company’s cars are known to be in a range which any middle-class man today can afford to buy.

    Goodwill

    Over a decade ago, Maruti Suzuki launched an advertisement video which said ‘Ghar aa Gaya Hindustan’ which became an instant sensation among people of India. Since the initial years, Maruti Suzuki has been successful in creating a notion into the minds of people that they associate home, the nation with their car.

    Their commercial still instills that India comes home in a Maruti Suzuki. The company has received great acceptance for the brand and its customers are very loyal to them. All these years, customer satisfaction has proved that Maruti Suzuki’s goodwill and brand loyalty are very strong and enthralling.

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    Hatchbacks

    Hatchbacks are the most idol cars for Indian roads and they rule the market. They are everywhere present in the market and are the most preferred body type throughout the nation. Maruti Suzuki initiated the concept in India and its most popular hatchback car Alto is one is the most demanded cars in India to date.

    Maruti alto
    Maruti Suzuki Alto

    Low maintenance

    When comparing the services of different automobile companies in India, Maruti Suzuki’s service charges are lower. The best thing about their services is that they have various stations and centers across the nation where they serve a huge number of cars daily. Today they make most parts in India under the Made in India and hence their spare parts and components are variably low when compared to other automobile companies.

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    NEXA

    Since Maruti Suzuki’s cars were always looked at as the mid-range cars that serve the middle-class category they wanted to enter the other market too. That is when Maruti Suzuki launched NEXA. In 2015 they started the delivery and operations of its premium range cars. This helped them engage with their high-end customer category.

    Maruti Suzuki Nexa
    Maruti Suzuki Nexa

    Conclusion

    The automobile sector has been growing rapidly over the past decade, even after the Covid-19 pandemic. Maruti Suzuki cars have emerged as budget-friendly and low-cost cars with superior after-sales services that have made it India’s top choice for many car owners.

    Maruti Suzuki will play a very important role in making cars assessable and available to many Indians in the future as well. Its aggressive management and promotion strategies will cater to huge demand in the Indian automobile market.

    FAQ

    What is the net worth of Maruti Suzuki?

    As of 2020, the total assets of Maruti Suzuki is ₹63,627 crore (US$8.9 billion).

    Who is the chairman of Maruti Suzuki?

    Shri Ravindra Chandra Bhargava is the chairman of Maruti Suzuki.

    Is Maruti a Govt company?

    Maruti was a Govt company, but in 2002, the Indian government gave the charge of the management of Maruti Udyog Ltd. to Suzuki for a consideration of Rs1000 crore.

  • List of Brands Endorsed By Kylie Jenner

    Working with media personalities like Kylie Jenner as their Brand Ambassadors must be like a dream come to for many companies. Kylie Jenner is a socialite, model, businesswoman, founder, and owner of Kylie Cosmetics. Kylie first came into the limelight when she starred in the family-based Reality TV show named Keeping up with Kardashian at the age of 14.

    Despite hailing from a famed family, she has managed to become a business mogul of a cosmetics company that sold more than $630 million worth of makeup in just two years from its launch. Since 2017, Kylie has been the youngest person to appear on the list of Forbes Celebrity 100. She has starred in various spin-offs including her own show called Life of Kylie in 2017.

    Kylie was also credited by the New York Post for being the most influential celebrity in the fashion industry in 2018. The Jenner sisters co-authored a dystopian science fiction novel named Rebels: City of Indra – The story of Lex and Livia which was said to be loved by their fans but disapproved by critics. The celebrity has appeared in the music videos of artists such as Jaden Smith, PartyNextDoor, Justine Skye, Cardi B, Justin Beiber, etc.

    The beauty entrepreneur has graced the covers of magazines such as Vogue (Hong Kong, Czechoslovakia), Playboy, Glamour, Forbes, Paper, Wonderland, Fault, Seventeen, Harper’s Bazaar, Elle, LOVE, Teen Vogue, Grazia, Allure, GQ, etc. According to Forbes, Kylie became “the youngest self-made billionaire of all time” in 2019. The Net worth of Kylie Jenner is estimated to be more than $1 Billion as of 2021. She is known to charge over $1.2 million for a single endorsements post on Instagram, as she is the fifth most followed person on Instagram.

    Being one of the most influential people on Instagram, Kylie is mostly seen endorsing luxury fashion and beauty brands. As per a report by Forbes, Kylie is known to have earned over 20% of her $18 million earned by endorsing Pacsun and Puma in 2016.  Some of the brands endorsed by Kylie Jenner are Pacsun, Puma, Kylie Cosmetics, Skims, Adidas, Calvin Klein, Kendall x Kylie, Beats x Balmain, Nip + Fabs, etc.

    Here are the brand endorsed by Kylie Jenner

    Kylie Cosmetics
    Puma
    Adidas
    Calvin Klein
    Beats x Balmain
    Skims
    FAQ

    Kylie Cosmetics

    Kylie Cosmetics is one of the leading cosmetics brands in the world. The billion-dollar company was first started by Kylie Jenner and her mother Kris Jenner when launched a lip kit under the Seed Company. After the product sold out, Kylie decided to start her own cosmetics company known as Kylie Cosmetics.

    In 2019 Kylie sold over 51% stakes to Coty Inc for $600 million. The Beauty mogul has collaborated with all her sisters (Kim Kardashian, Kourtney Kardashian, Khloe Kardashian, and Kendall Jenner) and her mother Kris Jenner to make a Makeup collection.

    After the success of the brand, Kylie then branched out in the skin-care market with Kylie Skin. According to the WWD Beauty Inc’s Top 100 list, Kylie Cosmetics was ranked 73 with an estimated $360 million in sales in 2018. WWD also reported that Kylie Cosmetics generated over $200 million in sales, with Kylie skin contributing $25 million. Kylie Jenner has been at the forefront of its ad campaigns that sometimes also feature her sisters.

    Puma

    Puma is the third-largest sportswear manufacturers in the world. The German multinational company is known for its casual and athletic footwear, apparel, and accessories.

    Puma was initially founded by Rudolf Dassler in 1948 and has its headquarters based in Herzogenaurach, Germany. Both Puma and Adidas were created after the sibling rivalry that took place between Rudolf and his brother Adolf Dassler in 1924. As of 2017, Puma is said to have more than 13,000 employees worldwide and is available in over 120 countries.

    In 2016, Puma signed Kylie Jenner with a partnership deal that includes an exclusive sneaker collaboration. Kylie created a line of footwear with the brand and which worked on the website design, e-commerce infrastructure, logo, and product design.

    Kanye West (founder of Yeezy that is under Adidas) took to social media to denounce the deal saying that the entire Kardashian family is “Team Adidas”, but the partnership went on to becoming official. Kylie was also featured in the brand’s Spring/Summer women’s training campaign that launched in April 2016.

    Adidas

    Adidas is the second-largest sportswear manufacturer in the world and is known worldwide for its iconic three-stripes logo. In 1949, following a breakdown in the relationship between the brothers, Adolf created Adidas, and Rudolf founded Puma. Both the companies have their headquarters in Herzogenaurach, Germany. Little did they know that few years down the lane and the companies would be among the top sportswear companies in the world. The company is known to have generated over €21.915 billion in revenue in 2018.

    Adidas Group comprises of Reebok, Bayern Munchen, and Runtastic, while Yeezy’s line of footwear and clothing is in conjunction with Adidas. And since Kanye is the co-founder of Yeezys, the Kardashian- Jenner clan supports Adidas. This is why Kylie Jenner dropped the Pumas deal and became the new face of Adidas Falcon sneaker in 2018.

    The reality TV star was featured across a series of ad campaigns whose style demonstrated strong reference to the 90’s period. The company statement on the campaign said that “As a life-long fan of the brand, Kylie embodies the bold spirit of Falcon and the company is pleased to announce her as the face of the campaign.’

    Calvin Klein

    Calvin Klein is a leading fashion house that has its headquarters in Manhattan, New York City. The company was founded by the renowned designed Calvin Klein in 1968, the brand is currently specialized in Leather, lifestyle accessories, home furnishings, perfumery, jewelry, watches, and ready-to-wear clothes.

    Calvin Klein has a strong foothold in both the retail market space as well as the Haute Couture. The company has over 11,500 employees worldwide and is available in 110 countries. In 2019, Calvin Klein sales exceeded $9 billion and were acquired by PVH Corp in 2003.

    In 2018, the brand signed not only Kylie Jenner but also her sisters Kendall Jenner, Kim Kardashian, Khloe Kardashian, and Kourtney Kardashian as the brand endorsers for Calvin Klein’s new family-oriented jeans and underwear campaigns.

    The #MyCalvins Campaign was shoot at different locations, barn settings, outfits and the focus on family unity is what drew the sisters to the idea. Commenting on the campaign Kourtney Kardashian said that, they definitely are a modern American family, and Calvin Klein embodies Americana.

    Beats x Balmain

    Balmain is an iconic French luxury fashion house that was founded by Pierre Balmain in 1945. While Beats by Dre is another major consumer audio products manufacturer. This is why two companies collaborate in creating a collection with Kylie as the brand endorser in 2017.

    The collection was made because of the love and appreciation for music and to celebrate today’s diverse, opinionated and innovative lovers of music and fashion. Olivier Rousteing the current creative director of Balmain said that He can’t differentiate between music and fashion and that collaboration happened completely naturally.

    The stylish and fashion-forward collection starts at the range of $599.95 for headphones and $249.95 for earbuds, which are available in the colors of safari and khaki. It was also ion was to be built on the theme of Urban Safari and the products are like works of art. Kylie Jenner was the face of the Collab and was the part of an ad campaign that showcases the Powerbeats 3 Wireless earbuds and Beats Studio Wireless over-ear headphones of the Balmain x Beats collection.

    Skims

    Skims is a solution-oriented brand that was started by Kim Kardashian in 2018. The brand is known for its range of underwear, loungewear, and shapewear. Kardashian West owns a majority stake in closely-held Skims, according to Forbes the shapewear company is worth $500 million. Kylie and the other sisters were a part of many skims multimedia ad campaigns.

    Conclusion

    Kylie Jenner is well known for being the youngest of the Kardashian-Jenner clan and for her role in Keeping up with the Kardashians. Kylie is currently one of the most influential people on social media and has a powerful personality in the makeup and fashion industry.

    Despite being a Beauty Mogul, Kylie has contributed and donated a lot towards charity and the needy. She currently has over 250 million followers on Instagram and 38.7 million followers on Twitter and is always in demand by major fashion labels. Kylie has so far done a great job of branding herself as a trendsetter and is constantly endorsing brands on Instagram.

    FAQ

    Who is Kylie Jenner?

    Kylie Jenner is a socialite, model, businesswoman, and founder of Kylie Cosmetics.

    What is the net worth of Kylie Jenner?

    The net worth of Kylie Jenner is estimated to be more than $1 Billion as of 2021.

    What are the brands endorsed by Kylie Jenner?

    Some of the brands endorsed by Kylie Jenner are Puma, Kylie Cosmetics, Skims, Adidas, Calvin Klein, Kendall x Kylie, Beats x Balmain, Nip + Fabs, etc.

    How much does Kylie Jenner charge for endorsements?

    She is known to charge over $1.2 million for a single endorsements post on Instagram, as she is the fifth most followed person on Instagram.

  • Surat Startups | Entrepreneurs and Startups In Surat [2021 Exhaustive List]

    Surat is the fourth cleanest city and textile hub of India. Although it is known for its massive textile industries in the city, it is also producing some great entrepreneurs and new startup companies to the market. Let’s see who the top 10 entrepreneurs in Surat are and some of the best Startups in Surat, a city in the state of businessmen, Gujarat.

    Before proceeding, if you know of any other startups in surat, please let us know in the comments. We will connect and feature them in the surat startup list.

    Responscity
    STAR
    HKC Concepts LLC
    Cerebroz Edutree
    ikoverk
    Drone Study
    Wishbook
    Chintaless Nagrik
    Foodsome
    Aumgene Biosciences
    Krossway
    Shilp Maitri Innovative Solution
    Frequently Asked Questions

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    Responscity

    Founder: Rushabh Shah

    Industry: Tech

    Year Founded: 2015

    Responscity Logo | Startups in Surat

    Responscity is a Smart City Technology Company, functioning in India. This surat startup aims to create innovative software and hardware solutions for City Management by understanding the community, designing a solution and finally engaging the stakeholders in implementing the solutions in the city.

    The company offers Digital House Identification (DHI) which is a Digital Infrastructure created by the integration of Hardware and Software enabling the city to become efficient, transparent and accountable.

    This surat based startup, was founded by Rushabh Shah, who is currently the CEO of the company. He founded Responscity in 2015. Before founding Responscity, this surat businessman was previously working as a Research Analyst for CNBC-TV18.

    STAR

    Founder: Sunny Kabrawala

    Industry: Space Technology

    Year Founded: 2015

    STAR | Startups in Surat

    STAR is a startup in Surat, that firmly believe that Space is for everyone and they realize their aim by building easy, economical, and efficient launch vehicles for small satellites. It is a research-based startup that has been appreciated by NASA for mission AXIS, won best paper presentation at ISRO, and was among the top 13 candidates of VIBRANT GUJARAT STARTUP GRAND CHALLENGE 2016.

    Honoured by Mr Shaun Moss in his book on INTERNATIONAL MARS RESEARCH STATION. STAR is a Surat based startup that provides a platform for students who want to design, build and launch sounding rockets and small satellites. It provides internship and hands-on experience of working on a High powered Rocket.

    HKC Concepts LLC

    Founder: Keyur Kukadia, Harsh Kukadia

    Industry: Mobile Accessories

    Year Founded: 2017

    HKC Concepts is known to be among the top startups in Surat, as they have designed the world’s first reversible Micro USB charging cable named “FLIPPY”. It can be plugged either way. USB 2.0 charger makes FLIPPY world’s first truly reversible Micro USB charging cable. It is among the best IT companies in Surat as it has revolutionized smartphone charging.

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    Cerebroz Edutree

    Founder: Sadaria Hiral

    Industry: Edtech

    Year Founded: 2017

    Cerebroz Edutree Logo | Startups in Surat

    Cerebroz Edutree is the first startup that replaces TV ads with educational content. This Surat startup has developed a device that can replace TV ads with K12 education includes academic, social, and General knowledge education.

    Cerebroz Edutree is the only startups in surat that has been offered an Incubation facility with Venture Studio, the Nodal agency of GOI for incubating and supporting innovative startups in the country. The response received from students and teachers was amazing.

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    ikoverk

    Founder: Snehal Shah, Hetvi Choksi, Nachiket Patel

    Industry: Co-working Space

    Year Founded: 2018

    ikoverk Logo | Startups in Surat

    iKoverk is a co-working space startup, where startups and freelancers can find a co-working space. According to Harvard research people working in co-working spaces are more efficient and creative than people working in offices. This startup in Surat is among the firsts to introduce the co-working space concept in the city.

    The aim of this Surat based startup is to provide shared working environment as one office where people indulge in independent activities. It is a membership-based company. With apt plans and packages for individuals as well as for teams, iKoVerk has something to offer everyone. iKoVerk is one of the new startups that want to revolutionize the way people perceive work.

    Drone Study

    Founder: Neetin Agarwal

    Industry: Edtech

    Year Founded: 2013

    Drone Study Logo | Startups in Surat

    Drone Study is an Educational Company located in Surat, Gujarat. This Surat based startup is fully focused on the Improvement of the quality of teaching with the efficient use of technology. It is just like another site for online courses, however, no e-learning site is the same as the other. Teaching is an art and every artist is unique.

    You will find great study material and there will be mentors to help you out. Mr Neetin Agarwal is the CEO and Founder of Drone Study Pvt. Ltd. This Surat businessman holds a BTech degree from IIT Madras. The company was initially founded in 2013 under his direction him.

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    Wishbook

    Founder: Arvind Saraf

    Industry: Marketplace

    Year Founded: 2015

    Wishbook Logo | Startups in Surat

    Wishbook is a B2B website and one of the most well known startups in surat. It provides products for wholesale purchasing easily. It offers digitization of fashion/apparel catalogue distribution & sales process. This digitized information, starting with their product catalogues for Fashion & Apparel companies, will allow easy sharing of new catalogue/product launches down the entire B2B distribution chain.

    It is also one of the top IT companies in Surat, as offers an open B2B marketplace, and take it to the existing marketplaces. People can also sell products wholesale on this platform. Wishbook was founded by a local entrepreneur named Arvind Saraf in 2015.

    The Surat startup has bagged the awards for “Most valuable fashion startup of the year” and “Best B2B e-Commerce of the year”. However, Wishbook is totally focused on the textile industry. The company started off as Triveni Labs, before taking this shape.

    Chintaless Nagrik

    Founder: Karnav Shah

    Industry: Legaltech

    Year Founded: 2012

    Chintaless Nagrik Logo | Startups in Surat

    Chintaless Nagrik was started with a great cause and the entrepreneurial spirit of the founder. It helps people with legal problems. You can even get some services for free. It is one of the best NGO in Surat, however, you will have to pay some bucks for other premium services. But you don’t have to worry a lot because they are available at a very affordable price.

    Chintaless Nagrik was founded in 2012 by Karnav Shah. Karnav is a local entrepreneur, as he is also the founder of StartupEntrepreneur.in & Reg.NGO JivanamAsteya.

    Foodsome

    Founder: Devang Parekh

    Industry: Foodtech

    Year Founded: 2014

    Foodsome was first started as an online portal to help users to know more about restaurants in their cities. Fodsome is top in the list of startup companies, because it helps people to save money on restaurants. People have to buy their subscription and the app provides a good discount on all the registered restaurants.

    Devang Parekh started working on Foodsome in 2013. He finally launched it in 2014 but only for Surat City. Foodsome’s service is now also available in Vadodra, Vapi-Daman and Navsari. Devang completed his engineering in 2008 and started working as a web developer for a company before founding Foodsome. The name of this Surat startup came into existence by combining “Food” and “Awesome”.

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    Aumgene Biosciences

    Founder: Anand Daga

    Industry: Biotech

    Year Founded: 2004

    Aumgene Logo | Startups in Surat

    Aumgene Bioscience is a leading startup in surat that takes the bioresearch contracts from other companies. It is a research-driven biotech startup based in Surat. It is involved in the manufacturing, development and marketing of different types of enzymes, probiotics, and Agribiotech. This Surat based startup is also one of the few biotech companies in India with R&D, Pilot and Production scale fermentation infrastructure under the same roof.

    Aumgene Bioscience was founded in the year 2004 by Anand Daga. Anand is now the Director of Aumgene Bioscience Pvt. Ltd and is known to be among the best Surat entrepreneurs. He did his MBA in Finance from the University of Washington. He holds his MS degree from the University of Maryland College Park.

    Krossway

    Founder: Chintan Choksi & Jay Shenmare

    Industry: Social Network

    Year Founded: 2017

    Krossways Logo | Startups in Surat

    Krossways is a complete social networking platform that combines the power of social planning with social sharing. This startup in Surat makes it easier to plan and share your social hangouts with friends or families through its unique social networking platform. When you plan to hang out with your friends on Krossways, your friend can narrow down the list of places you guys can peacefully hang out on.

    Although it is not a popular startup in the Surat startup list, it is still a good initiative. Chintan Choksi and Jay Shenmare are the founders of Krossways. Chintan Choksi is currently the CEO and Director of Product at Krossways.

    Shilp Maitri Innovative Solution

    Founder: Hardik Desai

    Industry: Tech

    SMIS Logo | Startups in Surat

    SMIS is a one of the top startups in Surat, as it deals with VR solutions. It is a platform that makes creating 3D VR content as easy as three clicks. Although they also deal with other technology solutions their main focus is VR technology. This Surat startup aims to democratize virtual reality content creation. They are using cutting-edge technology with the use of drag and drop.

    SMIS was founded by Hardik Desai. Desai is the CEO of Shilp Maitri Innovative Solution (SMIS) and is a well known Surat businessman as he managed to bag deals from companies like Mercedez-Benz, White Wind Group, etc.

    Successful Startups Based Out Of Gurgaon.
    Gurgaon, aka Gurugram, is counted amongst the financial and technological hubsof India. As much as the city is famous for its nightlife, it is popular for thecorporate offices of MNCs and conglomerates; Nearly every major corporation hasan estabishment in the city. Gurgaon also has the third high…
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    This was our list of Startups in Surat. Hope you liked it.

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    Frequently Asked Questions

    What are the best IT companies in Surat?

    The best software company in surat are Tata Consultancy Services, Infostretch, Collabera, Cygnet Infotech, Allscripts, etc.

    What are the best business ideas in Surat?

    The best business ideas in Surat are accounting, Consulting, Social media management, Graphic design, Marketing copywriter, Clothing, Printing, Food manufacturng etc.

    What are the top companies in Surat?

    The top startups in Surat are Responscity, STAR, HKC Concepts, Cerebroz Edutree, iKoverk, Drone Study, Wishbook, Chintaless Nagrik, Foodsome, Aumgene Bioscience, Krossways, SMIS, etc.

    Who are the best Surat entrepreneurs?

    The top 10 entrepreneurs in Surat are Hardik Desai, Jay Shenmare, Anand Daga, Devang Parekh, Karnav Shah, Arvind Saraf, Neetin Agarwal, Rushabh Shah, Sunny Kabrawala and Keyur Kukadia

  • Why Service-Based Startups Are More Successful In India?

    Many service based startups in india are establishing their place in the market, this is mainly because many of the new ideas have worked flawlessly for consumers. And that is why India is currently one of the fastest-growing startup ecosystems. Service-based Startups are ruling the market as compared to product-based ones. Examples for the top service startups in India are Flipkart, Quikr, Sulekha, Ola, Yatra and POPxo.

    India is also the third-largest startup ecosystem after the US and the UK. The liberated economies and affordable technologies have made it possible for the new age entrepreneur to compete with the already established players.

    The service oriented business in india is the fastest-growing sector, as it contributes significantly to the country’s GDP growth, employment, trade, and investment. In the Indian service based business, e-commerce takes the major share of the pie. According to the Morgan Stanley Research the country’s e-commerce market was estimated to increase from $102 billion to $119 billion by 2020.

    On the other hand, there are not many success stories when it comes to product-based startups. A few names that occur to us and which have made some inroads into the Indian startups market share, are Micromax Informatics, a leading consumer electronics company. Gecko, a device that works as a key finder and Goqii, a fitness tracking wearable.

    Reasons why Service-Based Startups are more successful?

    How Indian Startup Culture Differs From Others?
    Successful Service-Based Startups in India

    1. Zomato
    2. Practo
    3. Rentomojo

    Reasons why Service-Based Startups are more successful?

    Indian Startups are known to have a greater advantage with service-based business. Here are some of the reasons why service-based startups are more successful and survive longer in India.

    Low Capital Costs

    Manufacturing and selling a physical product involve a heavy capital investment, time, and energy. It usually requires taking a bank loan or securing funding from investors.

    On the other hand, there are little to no startup, overhead or manufacturing costs involved in service-based startups. A founder can start a setup (from his home or garage), with a few or no employees, and build his reputation through word of mouth marketing. Service based business only needs a small set-up and does not require a huge capital infusion, he can even bootstrap his business.

    Faster to Launch

    Service-based startups can get a business off the ground and start earning revenues earlier. The service startups need to define their service, find customers, listen to their requirements and start delivering the service. The product based startup ideas take a lot of time and resources to conceptualize, design and create the product.

    Lower Business Risk

    Every business is prone to some risk, however, service-based business in India face fewer risks. A customer who’s paying for a service usually knows his requirement, hence there is no guesswork involved, and hence, lower risk. You are selling the service and billing for a specific skill or expertise you already own. And, in service based business customers are committed to paying before you even start working.

    Flexibility and Adaptability

    Furthermore, a service-based startups are much more flexible and adaptable. Not only you can work from wherever you want, but you can easily make adjustments and customize your service as per an individual client’s needs. For example, If your client isn’t too happy with his website or campaign, you can make changes according to their feedback in real-time. Product-based companies in India find it much more difficult to improve or modify, as they may need testing, licensing and re-manufacturing.

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    How Indian Startup Culture Differs From Others?

    With the emerging business opportunities in India, The world biggest startups are no longer just in America or China. There are numerous successful startups in india, which has made the country a leading global startup hub.

    According to the latest report by KPMG, the number of startup companies in India has grown from 7,000 in 2008 to 50,000 in 2018. The growth of startups in india is significant, but there one primary difference between Global and Indian startups, and that is funding. It’s quite easy to get going in India, but the problem lies in the later stages where funding becomes more troublesome leading companies with no choice but to get international venture investors.

    Successful Service-Based Startups in India

    Zomato

    Zomato is an online restaurant search and discovery app, providing in-depth information about 1 million restaurants across 23 countries. Zomato is one of the successful service based startups in India. It is used by consumers globally to discover good food, rate, and review restaurants, as well as create personal networks of fellow food enthusiasts for trusted recommendations. This service startup was launched in 2008 covering over 331,200 restaurants in 19 countries.

    In addition to restaurant search and discovery, Zomato has expanded its offering to include transactions like Online Ordering, Table Reservations, and Point-of-Sale system, creating cutting-edge technology to connect restaurant businesses and customers in ways that will revolutionize the restaurant industry.

    Practo

    Practo is a health tech company with the motto of #DoGreat is prospering greatly with 2,00,000 doctors and 20 million patients across the world. This service based startup, kick-started its journey in the year 2008 from Bengaluru by two NITians Shashank and Abhinav Lal.

    Practo is the perfect example of “In the middle of difficulty lies opportunity” because the idea of PRACTO was initiated from the difficulties Shashank faced concerning his father’s health. It is a successful startup in India because of its numerous unique services.

    Practo, is a product of Naabo solutions, which became the Home for health by its hassle-free solutions for doctor appointments, delivery of medicine at the doorstep, online consultation with their registered doctors along online appointment booking software for doctors to manage their clinics.

    Rentomojo

    Rentomojo is a service oriented business in India that was started with the idea of providing online rental services for furniture (for 3 months) in 2014. The startup was started with the aim of providing its consumers with the ever-evolving style without the actual investment costs for furniture.

    Rentmojo is a service-based startup that was funded by IDG Ventures India and Accel partners initially and in 2017. The company gained $10 million Series B funding from Bain Capital Ventures and Renaud Laplanche.

    Rentomojo expanded its business to renting two-wheelers and appliances in 8 cities with an option of Rent-to-own model by the year 2018. Rentomojo is offering new services in india like cleaning annually, free maintenance with the subscription, swap products, and others.

    Conclusion

    When it comes to the product based vs service based startups, the success rate of product-based companies is very low than service-based companies in India. The ideas of some of the top Indian startups are quite out of the ordinary.

    If one wants to create the most successful startups in india, one needs to think outside of the box. Service startups in India have to keep up with their competition. Their startup ideas should be unique, which always attracts customers and brings forth profit.

    FAQs

    What is the difference between product-based and service-based company?

    A Product-based company creates or designs their products or application for general customers usage. They are not Client-specific. Whereas a Service-based company works only when a client approaches them with specific needs or requirements.

    What are service-based startups?

    Service-based startups fouses on clients requirements. They can get a business off the ground and start earning revenues earlier. They need to define their service, find customers, listen to their requirements, and start delivering the service.

    Which Indian startups are profitable?

    There are many Indian startups that are profitable. The country has many unicorn startups:

    • Byju’s
    • Swiggy
    • Oyo Rooms
    • Dailyhunt
    • CureFit
    • FirstCry
    • PharmEasy
    • boAt
    • Licious
    • Myntra

    Is India good for Service-based industry?

    India leads in the number of service-based companies in the world.

    Which is the best service-based company in world?

    Some of the best service-based companies in the world are:

    • TCS
    • Accenture
    • Infosys
    • IBM
    • Cognizant
    • Capgemini
    • Wipro
    • HCL
    • NTT Data
    • Fujitsu

    How many startups are there in India?

    There are around 55000 startups in India.

  • What a Story – Top video Production and Creative Agency

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by What a Story.

    What a Story is a creative agency that specializes in Modern Solutions for Modern Businesses. It offers video production, branding, and development services. A dream which started in an 8×8 feet room is currently holding 300+ clients and a family of creatives.

    What a Story is not just a general creative agency that knows a couple of designs or video software. At What a story, the team understands the technology and enjoys it! They are and have been at the consumer side, creator side, and seller side too. This experience makes What a Story a more reliable partner than current agencies.

    StartupTalky interviewed Mr. Vikas Tiwari (Founder & CEO, What a Story) to know the organization’s startup story & the roadmap ahead. In this article, you will get insight on How What a Story started, its business model, funding, growth, USP, future plans & more…  

    What a Story – Company Highlights

    Startup Name What a Story
    Founders Vikas Tiwari, Himani Verma, Raunak Hajela
    Headquarters Hyderabad
    Founded 2015
    Industry Video Agency/Video Production

    What a Story – About and Vision
    What a Story – Industry/Market Details
    How What a Story started
    What a Story – Product and USP
    What a Story – Founders and Team
    What a Story – Name and Logo
    What a Story – Business Model and Revenue Model
    What a Story – Launch and Marketing Strategies
    What a Story – Challenges Faced
    What a Story – Current Status & Growth
    What a Story – Funding
    What a Story – Competitors
    What a Story – Tools Used to run Startup
    What a Story – Recognition and Achievements
    What a Story – Future Plans
    What a Story – FAQs

    What a Story – About and Vision

    What a Story is a creative agency that specializes in Modern Solutions for Modern Businesses. It offers video production, branding, and development services

    Vision

    Its vision is to become the world’s most impactful creative agency of the 21st century by creating effective, scalable, and personalized solutions for businesses. So, they can help their audience to achieve more and make a change in the world!

    The startup’s short-term goals include improving the processes, capturing the market, and building a strong reputation. This will redirect it to reach the big goal; which is to help 1000 businesses to get noticed and understood so that both businesses and consumers get empowered and create greater opportunities. What a Story is building its studio to shoot and produce videos for medium-size businesses as well!

    The core belief of the team

    The team believes that if ideas are communicated right, it ensures wider opportunities, better choices, and faster growth.

    What a Story – Animated Video Production

    What a Story – Industry/Market Details

    The startup is targeting modern businesses like SaaS or Mobile Apps etc; Where there is innovation, there is What a Story.

    Target market size

    • It’s huge and growing
    • Mobile apps are increasing day by day
    • SaaS accounted for 20% of the overall enterprise software market. (Source: crikle.com)

    Future prospects of the Industry

    Everyone is using some application and 73% of businesses switch all systems to SaaS. This means the demand will increase more! If there is any new business, then they need videos to make sales, make themselves a part of the current solution or if the idea is new, then educate the audience about it.

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    How What a Story started

    Inspiration to start What a Story!

    What a Story started in 2015, with a dream to give the most compelling story to every business and topic! The team wants to make the world understand the technology and its impact.

    All of its founders have been working in the same domain for a long time and understand its pain points very well. They decided to start an agency where every member of the team is a vision partner and the customer’s trust is the ultimate revenue. So, the founders structured the company accordingly; And hence, the core team decided to start this agency!

    Research and Validation

    The service industry is a validated industry. If one can provide good customer satisfaction and growth to the team, then one can get the kind of success the company aims for.

    Journey of Ideation, Designing & Prototyping

    The startup What a Story is a Video production and Global Creative Agency with a chain of offices across India.

    A dream that started off in 2015, to give the most compelling story to every business and topic! A dream to make the world understand the technology and its impact. A dream to build an agency where every member of the team is a vision partner and the customer’s trust is the ultimate revenue.

    During the early days, the team realized that modern businesses were going to need simple communication and collaboration, as that will be the key. So, they structured the company accordingly. They wanted to build an agency of the best creative yet service-minded team on the planet. The quality should become the first parameter to judge the agency, not the fancy office space. The team was going to get work preference. Home or office didn’t matter. Creativity & Quality did!

    The journey started with a small motion graphics video which got a huge success very late, then T-shirt designs which flopped, then a branding project which made it through, and then a video shoot which was quite upbeat at that time, and many more. What a Story started offering service to the first 2-3 clients and they were very happy and satisfied with their work. They are still working or in contact with What a Story. The projects were raining and the startup started hiring many people. Soon a team of 2 became 18. The current company size is 25.

    What a Story
    What a Story making

    Then came the need for an unexpected organizational restructuring. The team learned the lesson from its own experiences and from others. They restarted the agency in Indore with a new team and this time, better than before. Its spirit became stronger in 2019 when What a Story won the Clutch Award for Best Creative Agency in India.

    Today, What a Story is the top video production and creative agency in India, operating with 25+ amazing talents from all over the country! It set a new benchmark in the Creative Industry and Impacted billions of lives through its clients. A dream which started in an 8×8 feet room is currently holding 300+ clients and a family of creatives.

    “We had simple dreams and we are still conquering them. We were stupid enough to think that ours could be the first Indian creative agency listed in stock exchange. We are still stupid to talk about that! ” says Vikas Tiwari (Founder & CEO, What a Story)

    What a Story – Product and USP

    How does the What a Story work?

    Once you reach out to What a Story, you can get a free consultation and diagnose the business problem. Based on that, the agency will advise you the solution which you can opt or try DIY.

    What problems does What a Story solve?

    Here are a few problems that customers may have & What a Story solves –

    • The first impression is not good
    • Leads are not coming. Know How to Generate Leads in Sales – 100 Proven ways
    • Sales are not converting
    • Business is not making enough Profit
    • Not gaining Trust and Credibility
    • The ROI of Ads are not good
    • The audience is not getting what the company does
    • Brand image is not good
    • The Pitch Deck is not impressive, many more;

    What a Story’s USP and Innovation

    What a Story is not just a general creative agency that knows a couple of designs or video software. At What a story, the team understands the technology and enjoys it! They are and have been at the consumer side, creator side, and seller side too. This experience makes What a Story a more reliable partner than current agencies.

    What a Story is a place where Strategy, Creativity, Technology, and Service-minded people, merge together to explain complex things in the easiest way possible.

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    What a Story – Founders and Team

    The founding team of What a Story continues Vikas Tiwari, Himani Verma, Raunak Hajela, and Nagendra Ch. (former co-founder). The current company size: is 25.

    About the Core Team

    What a Story - Founders and Team
    The Core Team of What a Story

    Vikas Tiwari | CEO, What a Story

    Vikas Tiwari is the CEO, he was working as a video professional in the industry for the last 8 years. He also has a visual branding background.

    Himani Verma | Director, What a Story

    Himani Verma is the director, she was working as a branding and design consultant for many small and big brands!

    Raunak Hajela | CTO, What a Story

    Raunak Hajela is the CTO, he is into core tech, which is the backbone of any service business today! He has developed many tech products and consulted startups!

    Nagendra Ch. | Bd & Sales, What a Story

    Nagendra was a co-founder but left What a Story earlier due to his personal issues. Now he is with the startup as an advisor and leader in his department!

    Work culture @ What a Story

    What a Story follows the open door policy and collaborative culture! Have certain and limited expectations from each member. Below are the Key Actions the startup expects from all members:

    • Communicate (Do not hesitate to speak your mind. Ensure positive & professional communication)
    • Collaborate (Listen to other’s ideas too. It doesn’t mean that one isn’t good. The other person might have a better idea sometimes)
    • Complete (Own your project. Find all the means to finish it better & faster)
    • Learn (Competitors are our teachers. Our real-life experiences can be our work pointers. Bring them here & share them with the company too)

    Also Read: Importance of Work Culture in the Success of a startup

    Hiring Funda of What a Story

    What a Story tries to match 3 Characteristics in every member whom the team wants to work with –

    1. Clear (Clarity will improve the work & reduce the time required. Understand the requirement first)
    2. Creative (Try different ways to do a task, do not be afraid to fail)
    3. Effective (Focus on the output, not the input)

    “Find Creative People, Provide them enough resources, and give them enough freedom, whether it’s related to ideas or working style” Vikas added.

    The common thing in all the co-founders was ‘The Story’, which connected them. Each story is mind-blowing and inspiring. They will chat about that sometime and then one may say “What a Story!”

    The team wanted the same impact for its clients and make content that can inspire their audience! And honestly, each business has a story to tell, and What a Story wants them to invite the audience in their story.

    What a Story
    What a Story Logo

    What a Story – Business Model and Revenue Model

    As of now, What a Story has a general business model, Project to Project and Recurring.

    • Price Range: 50k – 20 lac in between. It varies from project to project.
    • Profit margin: Currently, around 20%

    What a Story – Launch and Marketing Strategies

    • Asking their own people to give some work and referrals.
    • What a Story made a few viral designs in the early days, which helped it to get eyes in the market.
    • What a Story’s strategy was simple: Do Quality work so people can refer
    • The partnership was definitely useful for a business like What a Story. The startup did multiple partnerships with web, graphics, digital marketing, and other agencies.
    • What a Story started providing services to solve the problem instead of delivering the scope of work. It focuses on the actual problem and then consults its customer in the right way to solve it. It could be What a Story or others, but the problem has to be solved and the client has to have a good impression. The true value of money is the team’s promise!
    • What a Story has a zero budget spend on marketing. The startup is just near to finalizing the CMO who will decide the future of What a Story’s marketing strategy.

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    What a Story – Challenges Faced

    In early days, everything was challenging apart from making its own logo!

    The one major challenge, What a Story faced was the Price, which it wanted to get paid by customers. The startup does personalized work which takes longer than usual but has a way more impact than general communication design or videos. So its pricing was slightly upmarket too which was hard to explain to clients. So, the team started documenting each step of work and started showing it to the clients! Also, video testimonials played a big role in its sales pitches!

    Due to lack of sales conversion, the team tried to put its hands in low-budget creation but since the team is built with a purpose to make high quality solutions, they couldn’t make it happen.

    What a Story – Current Status & Growth

    • Operating locations: Fully Remote but it has a presence in multiple places in the country. Head office is in Hyderabad
    • Revenue: Seven Figures
    • Profit: 15-20%
    • Userbase: 600+ Clients
    • Notable clients and partners: Cyient, HCL, MakeMyTrip, Tahaluf, IMI Mobile, Shuttl, Conneqt Business

    “We have bigger and ambitious plans for our Video Department. Setting up our end to end video studio so we can optimize the cost for business owners is an important plan! You will see a lot of news on our website in the coming days!” Vikas added.

    What a Story – Funding

    What a Story is a bootstrapped startup.

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    What a Story – Competitors

    “We can’t say that they are competitors. Being a creator, we need inspiration from many other companies, cultures and people. We get our inspiration from Sandwich video, DemoDuck, YumYumVideos, and couple more!” says Vikas Tiwari, CEO @ What a Story

    What a Story – Tools Used to run Startup

    Apart from the Google apps and Adobe apps, What a Story uses QB, Clickup, Clustdoc & many more!

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    What a Story – Recognition and Achievements

    • Top Indian Design Companies in 2019 by Clutch,
    • Top #5 Explainer Video Production by Clutch 2019
    • Best Animation Video Production 2019 by DesignRush
    • Top Animation and Multimedia Company by goodfirm.co
    • Top Video Production Company by Superb Companies
    • Agency of the year 2020 – Ad World Master
    • Featured at: Inc42, vidsaga, FilmLifeStyle, SmartWebCreator

    What a Story – Future Plans

    What a Story has amazing plans for the future which include services expansion and product development! To conclude everything in a simple line – “What a Story wants to be the world’s most impactive end to end video agency”

    What a Story – FAQs

    What is What a Story?

    What a Story is a creative agency that specializes in Modern Solutions for Modern Businesses. It offers video production, branding, and development services.

    How does What a Story make money?

    As of now, What a Story has a general business model, Project to Project and Recurring. Price Range: 50k – 20 lac in between. It varies from project to project. Profit margin: Currently, around 20%

    Who founded What a Story?

    The founding team of What a Story continues Vikas Tiwari, Himani Verma, Raunak Hajela, and Nagendra Ch. (former co-founder). The current company size: is 25.

    Is What a Story bootstrapped?

    What a Story is a bootstrapped startup.

    How does What a Story work?

    Once you reach out to What a Story, you can get a free consultation and diagnose the business problem. Based on that, the agency will advise you the solution which you can opt or try DIY. It offers video production, branding, and development services.

  • Story of aisle 3: The Universal View of Shopping

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by aisle 3.

    aisle 3 is disrupting the e-commerce space by showing shoppers all of their buying options in one trusted location. The startup aggregates retailer offers and rich product information without any input from retailers by deploying machine learning and AI algorithms. This provides shoppers a complete view of all of their buying options for all products on a single screen. To achieve this the team has built a web crawler that discovers products, uses AI to transform and enrich product data alongside neutral networks to aggregate products without barcodes, product IDs or manufacturer numbers.

    Within just 15 months since its inception, aisle 3 has 2,000 organic shoppers each day, and 20+ Digital Agencies have signed up as partners covering more than 100 advertisers and million products. It has also raised more than $600k in two funding rounds securing the support of some of the most credible retail investors out there. The startup recently announced the launch of a new division in India as it continues the rapid growth trajectory. Aisl3 India Pvt Limited has launched with a team of 12 and has plans to triple the size of the team in the next year (2022).

    On this note, StartupTalky interviewed Mr. Thomas Vosper (Founder & CEO, aisle 3) to get insights on the startup story and growth hacks of the company. In this article, you’ll discover how aisle 3 started, its business model, USP, funding details, future plans, and more.

    aisle 3 – Company Highlights

    Startup Name aisle 3
    Founders Thomas J. Vosper (CEO), James Valbuena
    Founded 2020
    Headquarters London, UK
    Industry Ecommerce
    Website aisle-3.co/en

    aisle 3 – About
    aisle 3 – eCommerce Industry Details
    How aisle 3 Started?
    aisle 3 – Product/Service and USP
    aisle 3 – Founders and Team
    aisle 3 – Name and Logo
    aisle 3 – Business Model and Revenue Model
    aisle 3 – Startup Launch & Marketing Strategy
    aisle 3 – Challenges Faced
    Growth of aisle 3
    aisle 3 – Funding and Investors
    aisle 3 – Advisors and Mentors
    aisle 3 – Recognition and Achievements
    aisle 3 – Future Plans
    aisle 3 – FAQs

    aisle 3 – About

    Founded just 15 months ago, aisle 3 is a new, disruptive eCommerce marketplace that creates ‘a universal view of shopping’. aisle 3 aggregates retailer offers and rich product information by deploying machine learning and AI algorithms, so shoppers have a complete view of all of their buying options for all products on a single screen. The company’s core belief is that the current eCommerce experience is broken, with product research being disconnected from product purchases. The experience is deeply flawed as a result of too much power being in the hands of the tech giants. This leads to aisle 3’s revolutionary idea to disrupt the eCommerce experience. This approach will put power and choice back into the hands of Shoppers. Whilst other businesses focus on logistics or payments, the aisle 3 team’s focus is on the Shopper and putting power & control back in their hands.

    The team has built this business entirely remotely and internationally, during lockdown by developing the proprietary web crawler, software, and product aggregation algorithms from scratch. They have also carried out two pre-seed funding rounds, winning the backing of some of the most credible retail investors.

    aisle 3 – eCommerce Industry Details

    Despite a challenging year for retail in 2020, according to emarketer, worldwide retail eCommerce sales posted a 27.6% growth rate for the year, with sales reaching well over $4 trillion. They estimate $5 trillion will be achieved by 2022, and $6 trillion will be reached by 2024. In 2020, 18.0% of all retail sales took place via eCommerce. In 2024, that figure will reach 21.8%.

    In the current eCommerce market, Thomas J. Vosper (Founder & CEO, aisle 3) thinks that we are seeing increasing distrust of the big tech players who have aggregated too much power and this has stifled innovation. The truth is a lack of competition leads to often poor outcomes for customers and brands. For example, Amazon has an iron grip on the eCommerce market and is focused relentlessly on the bottom line. 75% of the products above the folder are either adverts or Amazon’s own brands. This means Amazon and Google show you what they can best monetize, not always what you want to see!

    Thomas believes the band of rebels that form startups have the most exciting opportunity to change the world and that’s where he hopes to see aisle 3 fittings in – as a trusted partner for retailers and brands and a trusted Shopper destination site.

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    aisle 3 – How it Started

    Having seen the inner workings of a failed price comparison startup and being made redundant when the company folded at the start of the first lockdown, Thomas realized that now was the time to create a business out of years of industry experience. The likes of Amazon and JD focus on delivery, Klarna and Alipay on the checkout – but no one is taking care of the Shopper before the buy button.

    “We are finally at the intersection of technology, demand, and funding to finally be able to aggregate all offers and products across the internet without the input of any retailer or brand. What would have once lead to a Capex that required a entire city full of servers, now becomes an
    Opex of infinitely scalable cloud infrastructure. This leads to the unique proposition of aisle 3 and the reason I took out a startup personal loan to create the business” Thomas J. Vosper (Founder & CEO, aisle 3) added.

    aisle 3 – Product/Service

    It is a really frustrating experience when you can book a flight, rental car, and hotel on a single site, but you can’t find a pair of trainers in the right color and size without opening a bunch of tabs on your browser and checking a myriad of retailers. We can walk on the moon but still can’t show someone the best price for a pair of wireless headphones. Nothing has changed with the product data powering online shopping since Thomas was at Amazon 14 years ago, with the reliance still on retailer-provided data.

    aisle 3

    This leads to the unique proposition of aisle 3, creating the source of truth that shows shoppers all of their buying options in one trusted location. The company’s product truly disrupts the fragmented online shopping experience by aggregating all offers onto a single screen, aisle 3 will save Shoppers hours of research across a myriad of open tabs, boards, spreadsheets, or note apps. To achieve this the team has built a web crawler that discovers products, uses AI to transform and enrich product data alongside neutral networks to aggregate products.

    The company started with trainers but now plans to roll out a whole series of products. It recently announced the launch of a new division in India as it continues the rapid growth trajectory.

    Aisl3 India Pvt Limited has launched with a team of 12 and has plans to triple the size of the team in the next year (2022).

    aisle 3 India Team

    aisle 3 – Founders and Team

    Thomas J. Vosper (CEO) and James Valbuena are the founders of aisle 3.

    aisle 3 founders and team
    Thomas Vosper – Founder & CEO of aisle 3

    Thomas and James worked at the same price comparison site that folded at the start of the first lockdown and decided to launch the business together and leverage their 30+ years of collective eCommerce experience at retailers including Amazon, Tesco, Lastminute. They both saw the flaws in the eCommerce experience and it was something they had a shared vision and were determined to change. James is an expert on AI & ML and has experience in building large technical and marketing teams over the years. Thomas was one of the early employees at Amazon and was responsible for launching thousands of sellers across new categories and products.

    aisle 3 has grown to now be a team of 18 – all based remotely – most in India. Whilst they were hired across 5 continents, the company found that the majority of its talent came from India. To deepen its commitment to the team and the region the startup has subsequently formed a local subsidiary that means it can offer its team the comfort and security of working with a registered legal entity in India.

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    It was important for the founders that they paid homage to their physical retailing roots; whilst explicitly eschewing blunt brand names (PriceSpy, Pricesearcher, Pricerunner) which frame the business in price comparison and become off-putting to retailers. Fixing shopping is not
    only comparison – the team are passionate about ensuring Shoppers can discover new brands
    and retailers they may never have heard of.

    aisle 3 logo

    aisle 3 – Business Model and Revenue Model

    At the moment aisle 3 is at the pre-revenue stage, but it’ll work to a performance-based model with retailers and brands. Over 900 retailers (including the likes of Nike, Farfetch, Ralph
    Lauren) have signed up to the waiting list and over 20 agencies have agreed on partnerships for
    their clients.

    Most marketplaces like Amazon and price comparison sites work by processing product data supplied by retailers – which is why shoppers come across products poorly matched up or duplicates when they are searching. aisle 3 decided to take on the task of searching the internet for the product details itself before aggregating everything without the retailers’ input. It started with trainers and this was its first business proof point – achieved after just a few months.

    aisle 3 – Startup Launch & Marketing Strategy

    As a pre-revenue startup tackling a big issue in Shopping aisle 3 is still very much in stealth to the general population. This has granted it the freedom to secure some amazing talent (especially in India) and explore commercial partnerships.

    It very quickly gained commercial traction within the thriving agency and advertising ecosystem in the UK by supporting some of the very biggest advertisers to reach Shoppers through the EU-wide CSS program. aisle 3 now has over 100 advertisers across 20 agency partners and this includes names such as Liberty London, Schuh, Secret Sales, and Claire’s Accessories.

    In the run-up to Christmas 2021, aisle 3 looks forward to launching its new Shopping site to the public and saving Shoppers both time and money – – “Our focus is on the Shopper and putting
    power and control back in their hands.”

    This momentum of its launch and story saw the startup secure some excellent press coverage about its story from redundancy to fundraising (aisle 3 became one of only 342 companies in the UK that secured investment for the first time in 2020) around this time. The momentum that led to it closing two funding rounds of more than $600k from some of the most relevant and credible investors around.

    aisle 3 – Challenges Faced

    The team at aisle 3 has faced some extraordinary challenges due to running a remote team during the pandemic year. Many of the events of the past year outside of Covid have directly impacted its global team, for example, Black Lives Matter protests in the US, Belarus elections and protests obstructing its UI designer, Terrible flash flooding in Hyderabad, Conflict in Armenia and Azerbaijan disrupting the Head of Machine Learning and most recently the terrible surge of COVID infections in India. It learned that by assembling a culturally diverse group of people, aisle 3 also proved its mission was global!

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    aisle 3 – Growth

    aisle 3’s key markers for growth will be GMV (the value of sales it generates for the retailers that it signs commercial relationships with) once it is publicly launched in Q4 (the startup has a waiting list of around 900 retailers). aisle 3 gets 2,000 organic shoppers each day in stealth, and 20+ Digital Agencies have signed as partners with more than a million products. It has also raised more than $600k in two funding rounds securing the support of some of the most credible retail investors out there.

    aisle 3 – Funding and Investors

    aisle 3 has raised a total funding of more than $600k (£450k) in 2 rounds of funding. The funding details are as follows:

    Date Stage Amount Investors
    Oct 30, 2020 Angel £200k –
    April 1, 2021 Pre-seed £250k Hezi & Gabby Leibovich, Laurence Guy – Wearepentagon

    Also, Click here to get the Latest Startup Funding News in the Indian Startup Ecosystem for 2021

    aisle 3 – Advisors and Mentors

    aisle 3 works closely with the former FD of Secret Escapes (Alex Wakeford) alongside its excellent investors, the Leibovich brothers who founded Catch of the Day in Australia. The startup benefits from the support of investors with a rich background in eCommerce from companies such as Visualsoft, Redbrain, Amazon, Pouch, and Connectd.

    aisle 3 – Recognition and Achievements

    aisle 3 has been winning widespread recognition in the tech, eCommerce, and startup media with dozens of write-ups and profiles for a company recognized for doing something different, new, and exciting. It has been dubbed ‘the Wikipedia of product search’ and Thomas J. Vosper was even invited to give a TEDx talk about his journey as a first-time founder.

    Thomas J. sVosper was invited to give a TEDx talk about his journey as a first-time founder

    aisle 3 – Future Plans

    The team at aisle 3 is ambitious to completely revolutionize the advertising experience which currently relies on interruptions when they can instead form a symbiotic relationship with retailers and brands that presents Shoppers with relevant, personalized offers at the right time.

    Voice and conversational commerce will begin to have more impact on the Shopper’s journey and they’ll continue to work hard on the enabling foundation which is best in class product and offer information and a source of truth for Shoppers.

    aisle 3 – FAQs

    What is aisle 3?

    aisle 3 is a new, disruptive eCommerce marketplace that creates ‘the only universal view of Shopping’. aisle 3 aggregates retailer offers and rich product information by deploying machine learning and AI algorithms, so shoppers have a complete view of all of their buying options for all products on a single screen.

    Who founded aisle 3?

    Thomas J. Vosper (CEO) and James Valbuena are the founders of aisle 3.

    Is aisle 3 an Indian company?

    aisle 3 is headquartered in London. It recently announced the launch of a new division in India as it continues the rapid growth trajectory. Aisl3 India Pvt Limited has launched with a team of
    12 and has an office in Ahmedabad, with plans to open 2 more in the next 12 months.

    How does aisle 3 work?

    aisle 3 scours the internet to find the latest products and offers before aggregating all offers and rich product information by deploying machine learning and AI algorithms – without any input, product IDs, barcode numbers, or manufacturer codes from Retailers and Brands.

    This provides shoppers a complete view of all of their buying options for all products on a single
    screen for the first time ever.

  • Story of Upside AI: Tech-driven Asset Management Company

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Upside AI.

    Upside AI is a SEBI-registered PMS (Portfolio Management Service). Founded by Kanika Agarrwal, Nikhil Hooda and Atanuu Agarrwal, Upside AI creating a new class of investing that sit between active and passive – its goal is to deliver consistent alpha through eliminating bias/emotions from the process.

    Today, Upside AI ranks among the top-performing PMS’ in the country delivering 33% annualized returns since it came out of beta in Jul 2019. family offices. asset management is a highly fragmented market and is not a winner-take-all play. Even at a sub-1% market share, Upside AI can scale to ~$5B in AUM while delivering a robust return on capital.

    Startuptalky interviewed the Founders of Upside AI to get insights on the startup story and the roadmap of the organization. In this article, you’ll get to know all about Upside AI’s history, how it launched, its future plans, competitors, funding details, growth, and more.

    Upside AI – Company Highlights

    Startup Name Upside AI
    Co-Founders Kanika Agarrwal, Nikhil Hooda, Atanuu Agarrwal
    Founded 2017
    Headquarters Mumbai
    Industry Fintech
    Website upsideai.com

    Upside AI – About and Vision
    Upside AI – Market/Industry Details
    Journey of Upside AI – How is Started
    How Upside AI works – Product and USP
    Upside AI – Founders and Team
    Upside AI – Business Model
    Growth of Upside AI
    Upside AI – Funding and Investors
    Upside AI – Competitors
    Upside AI – Recognition and Achievements
    Upside AI – Future Plans
    Upside AI – FAQs

    Upside AI – About and Vision

    Upside AI is a SEBI-registered PMS (Portfolio Management Service). It is essentially an investment management startup that uses technology to drive investment decisions. Nikhil Hooda, Kanika Agarrwal, and Atanuu Agarrwal started Upside AI with the belief that technology will make better decisions than humans over the long term since machines are unbiased and unemotional decision-makers. It is therefore focused on building products that follow a rules-based, systematic approach to investing.

    Upside AI’s first two products focus on equity investing using proprietary machine learning algorithms to understand, recognize, and buy companies that are fundamentally good businesses. It provides Portfolio Management Services or PMS, which caters to HNI’s, institutions, and family offices in India and globally. The minimum investment size is INR 50 lakhs.

    Upside AI logo

    The team wants Upside AI to be a world-class 100% tech-driven asset management company (AMC). They aim to achieve this by building an array of products across asset classes and strategies. Apart from the two live products, Upside AI has another couple of products in development, which it plans to launch over the next 6-12 months (2021-2022). Over the next couple of years, the company aims to add 1,000 HNIs, family offices, and institutional clients and grow to INR ~1,000cr in AUM.

    “We are also working on building an end-to-end digital platform where we want tech to drive the entire chain from client onboarding to sophisticated investment tech to live tracking and reporting via a seamless UI/UX experience for clients”  as said by the Founders of Upside AI.

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    Upside AI – Market/Industry Details

    The asset management market in India today is INR 52 trillion (as of December 2020). Retail mutual fund penetration in India is very low (~6% of GDP vs. ~36% in other emerging markets and ~60-70% in developed markets.) Hence, it has been growing at ~25-30% over the last 5 years; the team @ Upside AI expect this momentum to continue.

    Over the last decade, tech has disrupted several areas of financial services like payments, lending, insurance, etc. However, asset management has stayed the same in India i.e., human investors taking calls and large armies of sales/ back-end staff running distribution and operations.

    Over the next 5 years, Upside AI aims to create off-the-shelf, standardized products across asset classes that can be pre-packaged and sold to even retail investors. Distribution will be built online with end-to-end integrations with brokerages and bank accounts. The back-end ops and reporting that the team is building are already online and extremely scalable.

    By its nature, asset management is a highly fragmented market and is not a winner-take-all play. Even at a sub-1% market share, Upside AI can scale to ~$5B in AUM while delivering a robust return on capital (even traditional players with large physical networks today have 30%+ ROEs) by leveraging digital distribution and algo-based systematic investment.
    (Source: AMFI, McKinsey’s Asset management database)

    Journey of Upside AI – How is Started

    Spark of Idea: Upside AI

    “Graham is my guru in every sense of the word. I had no background in finance or investing when I picked up “The Intelligent Investor” almost 15 years ago. It led me to Graham’s other seminal work “Security Analysis”, meant for professional investors. They are the inspiration and spark behind the idea for Upside AI. They led me to the framework for our core algorithm” – Atanuu Agarrwal (Co-founder, Upside AI) added.

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    The Launch of Upside AI:

    It took nearly a year to build out the tech, including –

    1. cleaning up ~20 years of financial data
    2. Unbiased and robust back-testing, and
    3. Frameworks for qualitative issues like corporate governance

    In addition, the team conducted primary research by talking to CIOs and decision-makers at:

    1. The largest fund houses in the country
    2. Largest wealth managers in India
    3. 20-25 of the largest family offices in India
    4. 100+ retail investors

    It took nearly a year to build out the tech and back-test it; then another year to test it in the live market, before it took out of beta and started offering to third-party distributors and clients in July 2019.

    Challenges Faced by Upside AI:

    One of the major challenges that the team faced was that they were pitted against established players in an industry built on trust. Adding to that was the fact that Upside AI was perceived as an outsider since the team came from a background in venture capital and technology. Building a network of investors and distributors virtually from scratch remains one of its biggest challenges even today.

    Additionally, convincing people to put their trust and money into a newly introduced tech-based product was a mammoth task. However, the company’s aim since day one has been to make investors realize that one must diversify away from human-led investing. Over the due course, on the back of consistent performance and sustained alpha, clients, wealth managers, and distributors associated with Upside AI have come to appreciate that tech-based products should be an integral part of one’s asset allocation strategy.

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    How Upside AI works – Product and USP

    The current state of play in the Indian AMC industry is that –

    • Human managers are struggling with outperformance
    • Fees in the industry are shrinking where a human heavy cost base means low ROE, and
    • There is an ongoing system redesign on how asset allocation will change over the next decade.

    Already, technology/rules run 60% of the markets in the US. With ETFs overtaking active investing in the last few years, developed markets are moving away from the traditional human-driven investing models (which tend to be driven by irrational emotions/ biases).

    This will be the future for India and other developing countries – that users will increasingly look for an unbiased rules-based approach to equities and tech will drive much of asset management.

    At Upside AI, the team is creating a new class of investing that sits between active and passive – its goal is to deliver consistent alpha through eliminating bias/emotions from the process.

    Upside AI’s first few products focus on equity investing using proprietary machine learning algorithms to understand, recognize, and buy companies that are fundamentally good businesses.  

    1. The first step is parsing of P&L, balance sheet, and cash flow data of all companies listed on the NSE. This was a non-trivial exercise, as meticulous data clean-up and standardization.  
    2. The secret sauce is however the next step where the algorithm uses ML to shortlist companies that are not just fundamentally good businesses but also in-demand stocks.
    3. It does this exercise quarterly, to pick a portfolio of 10-25 stocks. It has also developed a framework for corporate governance checks to make sure the numbers fed into the algorithm are kosher.

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    Upside AI – Founders and Team

    Nikhil Hooda, Kanika Agarrwal, and Atanuu Agarrwal are the founders of Upside AI.

    Upside AI Team
    Nikhil Hooda, Kanika Agarrwal, and Atanuu Agarrwal – Upside AI Founders

    How the Co-founders Met:

    Nikhil and Atanuu were batchmates from IIT Bombay and in fact, have been friends since even before that when they started preparing for IIT JEE together. Kanika and Atanuu crossed paths while working in the investment banking team at Credit Suisse.

    “All three of us love playing strategy board games and that is what led to a deep friendship and then eventually the partnership. So much so that Kanika and I are married and Nikhil was the witness on our marriage certificate. We are a very close-knit group and share not only the same set of interests but also common values which is ideal if you are starting a business together.” – Atanuu Agarrwal added.

    Atanuu Agarrwal | Co-founder, Upside AI

    Since Atanuu is the in-house Ben Graham disciple and pretty much spends most of his time on the investment and product side of the business. he has a B.Tech and M.Tech from IIT Bombay. He has experience in both public and private investing in the US and India. Atanuu spent the last 7 years prior to Upside AI working in New York with the CEO/Founder managing $1bn in AUM across PE, VC, and SPAC strategies.

    Kanika Agarrwal | Co-founder, Upside AI

    Kanika focuses most of her energies on sales and distribution. She is a Chartered Accountant (All India Rank 18), a CFA charter holder by qualification. She previously worked at Mayfield India for a brief time, Credit Suisse, and EY for nearly a decade before starting Upside AI.

    Nikhil Hooda | Co-founder, Upside AI

    Nikhil is the brains behind the technology at Upside AI. He has a B.Tech in Computer Science from IIT Bombay (All India Rank 43) and a PhD in Computer Science. Every single line of code has been written by Nikhil and there has been no outsourcing or licensing when it comes to actually building the product.

    Upside AI – Business Model

    The business model in asset management is “solved”. Clients are charged a percentage of AUM periodically.

    Growth of Upside AI

    Currently, Upside AI has ~80 customers and about INR 85cr in AUM. Its goal is to cross 1000 customers and 1000 crores in AUM within the next 18-24 months (2022-23) while delivering consistent returns for its investors.

    As mentioned earlier, Upside AI ranks among the top-performing PMS’ in the country delivering 33% annualized returns since it came out of beta in Jul 2019. The company recently raised a seed round of $1.2 Million, led by a VC fund, Endiya Partners. It has already attracted marquee clients ranging from large family offices, VCs, CEOs of large MNCs in India and the US on the back of unique investment tech that the team has built in-house and extensively tested. The funding will help Upside AI build a robust pipeline of differentiated tech products and a network of large distributors, wealth managers, brokers, and IFAs.

    “I believe that a product-focused and client-centric approach can help us achieve our vision of being a world-class, tech-driven asset management company that will democratize access to sophisticated investment technology, built for Indian investors” Atanuu Agarrwal added.

    Upside AI – Funding and Investors

    Upside AI recently raised a seed round of $1.2 Million, led by a VC fund, Endiya Partners. Other investors in the round include – Vijay Kedia (a veteran stock market investor), Ajay Nanavati (Chairman of Quantum Advisors, previously Chairman of Syndicate Bank, MD of 3M), and Gopichand Katragadda (CEO of Myelin Foundry, ex-CTO of Tata Group).

    Date Stage Amount Investors
    June 21, 2021 Seed $1.2 Mn Endiya Partners, Vijay Kedia, Ajay Nanavati, Gopichand Katragadda

    The team @ Upside AI believes that the funding and guidance from Endiya and their esteemed angel investors will propel Upside AI towards the milestone to cross 1000 customers and 1000 crores in AUM within the next 18-24 months (2022-23) while delivering consistent returns for its investors.

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    Upside AI – Competitors

    Current competitors for Upside AI include:

    1. Traditional Asset Management Companies (AMCs), and
    2. Boutique investment firms run by human fund managers.

    There are companies building digital distribution like Paytm, Smallcase, and Groww, etc. Upside AI would leverage these pipes to distribute its products. However, they might become competitors in the future if they backward integrate into asset management.

    Having said that, asset management is not a winner-take-all market and there is space for multiple large players to exist.

    “In addition, as far as we know, we are amongst only a handful of players leveraging tech for investment decision-making in India. Our proprietary tech and track record are sustainable moats, which should hold us in good stead vis-à-vis the competition” says Atanuu Agarrwal, Co-founder, Upside AI

    Upside AI – Recognition and Achievements

    Upside AI ranks among the top-performing PMS’ in the country delivering 33% annualized returns since it came out of beta in July 2019; this represents a ~14% alpha (outperformance) over the benchmark index (Nifty 500 TRI).

    In June 2021, PMS AIF World ranked Upside AI Multicap in the top 10 products of its peer group. Upside AI’s AUM has grown by 10X since 2020 to over INR 75cr with investments from several HNIs, and family offices.

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    Upside AI – Future Plans

    • Its goal is to cross 1000 customers and 1000 crores in AUM within the next 18-24 months (2022-23) while delivering consistent returns for its investors
    • Apart from the two live products, Upside AI has another couple of products in development, which it plans to launch over the next 6-12 months(2021-2022)
    • Over the next couple of years, the company aims to add 1,000 HNIs, family offices, and institutional clients and grow to INR ~1,000cr in AUM.
    • The team is also working on building an end-to-end digital platform where we want tech to drive the entire chain from client onboarding to sophisticated investment tech to live tracking and reporting via a seamless UI/UX experience for clients
    • Over the next 5 years, Upside AI aims to create off-the-shelf, standardized products across asset classes that can be pre-packaged and sold to even retail investors

    Upside AI – FAQs

    What is Upside AI?

    Upside AI is a SEBI-registered PMS (Portfolio Management Service). It is an investment management startup that uses technology to drive investment decisions.

    Who are the founders of Upside AI?

    Nikhil Hooda, Kanika Agarrwal, and Atanuu Agarrwal started Upside AI in 2017.

    How does Upside AI make money?

    Clients are charged a percentage of AUM periodically.

    What is the USP of Upside AI?

    At Upside AI, the team is creating a new class of investing that sits between active and passive – its goal is to deliver consistent alpha through eliminating bias/emotions from the process. Upside AI’s first few products focus on equity investing using proprietary machine learning algorithms to understand, recognize, and buy companies that are fundamentally good businesses.

    Is Upside AI an Indian Company?

    Yes. Upside AI is an Indian Company headquartered in Mumbai.

    How much funding has Upside AI raised?

    Upside AI raised a seed round of $1.2 Million, led by a VC fund, Endiya Partners. Other investors in the round include – Vijay Kedia, Ajay Nanavati, and Gopichand Katragadda.

  • Humanoid Robots, Tesla Bot and Beyond

    Humans have long been reigning the Earth as uncrowned rulers. With their sharp mind, crucial thinking ability, power of execution, and sky-high ambitions, human beings have unarguably been the wisest species living on the planet.

    Time and again their existence was threatened but it is the urge to live that has chalked the way ahead for the humans. Starting from the stone age to the invention of fire, metals, followed by the grouping of humans in societies that expanded to cities and countries, humans never really shirked any opportunities of inventing new things.

    Later when the humans started to be distanced from each other, they started to invent tools like the telephone, telegram, mobiles, and computers to keep them connected. Though human inventions were always speculated hugely on the necessity and the disadvantages that they would likely have, most of them went on to be successfully received by the successive generations and resulted in bettering our lives overall.

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    Robots and their Brief History

    Robots are machines programmed by humans to be operated as computers that can carry out a complex series of actions without any significant aid from humans. The invention of these machines was being discussed since the emergence of the first generation of computers. However, the invention of robots was not an easy task and required severe hindrances to be overcome before they could be materialized.

    The invention of robots started with that of Artificial Intelligence (AI), the first of which was developed by Christopher Strachey.

    However, if you are curious about robots, then it is George Devol, who had invented the Unimate in 1954, the first commercial, digital and programmable robot.

    The robot was eventually sold to General Motors in 1961, where it served as a human alternative to lift pieces of hot metal from die casting machines at the Inland Fisher Guide Plant in Ewing Township’s West Trenton section in New Jersey.

    The development of robots was not only seen as a useful addition to various industries and companies to boost their overall productivity but also as robust reinforcements to get risky and dangerous tasks done without any bother.

    Elon Musk’s Announcement of the All-New Tesla Bot

    Elon Musk, founder, CEO, and Chief Engineer of SpaceX and CEO and Product Architect of Tesla announced on Thursday, August 19, 2021, that the electric automobile company, Tesla is almost ready with the prototype of a humanoid, which they are set to launch by next year. This is a step towards developing the next generation of AIs that look similar to the structure of humans and can work like them.

    Tesla Bot
    Tesla Bot

    The humanoid bot is code-named “Optimus,” said the billionaire entrepreneur, who would stand 5 feet 8 inches tall and would not be “super-expensive” to afford. The robot will be based on the same chips and sensors that the Tesla autonomous cars use for operating their self-driving features.

    What does Tesla Bot do?

    The humanoid bot launched by Tesla can perform a wide range of chores that are considered to be dangerous, boring, or repetitive. Elon Musk further mentioned that the humanoid will be an excellent addition to the industries in order to address labor shortage issues. The all-new Tesla bot would have “profound implications for the economy,” he added.

    Musk also presented the slides to exhibit the design of the bot prototype where he mentioned that the bot will have autopilot cameras installed in its head. He also declared that Optimus will weigh 125 pounds and will have the ability to run at 5 mph, lift 150 pounds and carry 45 pounds of weight.

    Fetching groceries or other utilities from the store will be among some of the major benefits of using the bots.

    Though the Tesla bot might seem like a unique concept and the working of such robots a breakthrough since the last AI, it is not the first humanoid bot that we have known. Yes, there is a list of humanoid robots that are already in existence and happen to be working in different sectors.

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    Nadine

    Nadine - The Robot with professor Nadia Magnenat Thalmann
    Nadine – The Robot with professor Nadia Magnenat Thalmann

    We all have to interact with a customer service agent or two whenever we find any issues hindering our systematic lifestyle and work process or want to make a new visit or initiate any new processes. The customer service agents duly assist us in such works but you might also bump into Nadine, who would look similar to a woman but is actually not.

    Nadine was developed in 2013 by Kokoro Japan and is modeled on professor Nadia Magnenat Thalmann.

    What does the Nadine the Robot do

    Nadine is a social robot that can greet you on your first visit, talk, make eye contact, remember your previous meetings and chat in the respect of the earlier meets. The social robot can talk in 6 different languages and handle a list of queries smoothly.

    Nadine is currently employed as a customer service agent in AIA Insurance Company in Singapore and is the first humanoid robot in the world working as a customer service agent.

    Ocean One

    Ocean One
    Ocean One

    Marine life has always interested us. Though scuba divers and other manual interventions have resulted in knowing the underwater ecosystem better, however, the invention of the humanoid bot, OceanOne has further bridged the gap between the land and the water. OceanOne was developed by Stanford University in collaboration with KAUST’s Red Sea Research Center and MEKA Robotics.

    What does the Ocean one the Robot do

    OceanOne was developed to explore coral reefs and other submarine subjects and life forms. The robot mermaid can dive into the depths that human beings cannot. OceanOne first divided 100 meters below into the depths of the Mediterranean Sea and discovered the wreckage of La Lune of King Louis XIV of France, which sank off the southern coast of France in 1664.

    Erica

    Erica
    Erica

    News anchors bring us the latest news from our neighborhood and from across the world. However, they have all been humans, aren’t they? If you are in Japan, then think twice because there you might also be watching Erica as the news anchor!

    Hiroshi Ishiguro, the Director of Intelligent Robotics Laboratory developed Erica at Osaka University. Erica is one of the most modern robots that can understand human conversations and change her facial expressions according to the conversations. Though this robot cannot walk, she is shockingly good at speaking.

    What does Erica the the Robot do?

    Erica can be used as a conversation company because she is smart and can talk nicely, which is almost as expressive as humans. She is currently used as a news anchor in Japan.

    Nao

    Nao
    Nao

    We have all been to soccer matches or seen them on our television or computers. What energy the soccer players display! What unity and coordinated gameplay we get to see in one such match!

    However, soccer matches are not only a game solely dedicated to humans. Nowadays, robots have started to enjoy it too. Nao, the 23-inch robot is the first of its kind to engage in a game of soccer.

    Invented by Aldebaran Robotics, a French robotic company, was launched in 2008 and now has an entire event RoboCup Standard Platform League, a part of Robocup, dedicated to it.

    What does Nao the Robot do

    Apart from playing soccer games, Nao has also emerged as an intelligent robot that can be used in multiple industries for more than one purpose. It is one of the leading robots of the world, which is adopted in more than 70 countries in total mainly for academic and research purposes. Furthermore, Nao is also used to educate autistic children. Aldebaran Robotics was acquired by Softbank Robotics in 2015, which now produces the robot.

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    Conclusion

    The very thought of someone, a machine operating as we do has always fascinated us. The existence of such creatures is fun, interesting, and useful no doubt. Most of the robots that exist today are intended to be friendly. However, they are becoming more advanced with each passing day and as Elon Musk has pointed out earlier, can also turn into the “biggest risk we face as a civilization,” which we should avoid at any cost.

    FAQ

    What was the first humanoid robot?

    The first humanoid robot was Herbert Televox built by Ron Wensley in 1927.

    Tesla Bot, Nao, Erica, and Nadine are some of the popular humanoid robots.

    When will the Tesla bot launch?

    Elon Musk has stated that Tesla will launch the Tesla Bot prototype next year.

  • LinkedIn Business Model: How Does LinkedIn Make Money

    While talking about platforms where one can build a professional relationship with clients and employees, then LinkedIn tops the list. Founded by Reid Hoffman, this platform has been increasing its user base since its birth. It has also successfully placed itself among the list of fastest-growing social media networking platforms.

    However, even today, many people aren’t aware of this platform. LinkedIn is a professional platform where clients and employees can build professional relationships with each other. With about more than 660 million users and 9 million companies, LinkedIn is still expanding its community of professionals. Before moving ahead, let’s have a look at some company highlights about LinkedIn.

    LinkedIn – Company Highlights

    Company Name LinkedIn
    Founding Year 2003
    Headquarters Sunnyvale, California, United States
    Industry Professional Networking, Social Media
    CEO Ryan Roslansky
    Founder Reid Hoffman
    Parent Company Microsoft Corporation

    How does LinkedIn make money? Did this question pop up in your mind? Well, we have discussed the company highlights of LinkedIn. Now, we shall be unveiling the revenue sources of LinkedIn. But, before that, let’s discuss the services offered and provided by LinkedIn? So, what are you waiting for? Just keep scrolling and knowing.

    LinkedIn Services
    LinkedIn Business Model
    LinkedIn Acquisitions & Partnerships
    Conclusion
    FAQs

    LinkedIn Business Model Explained

    LinkedIn Services

    LinkedIn is a free platform for everyone. However, there are some premium services which the company offers and provides its user base. The key services include:

    • Talent Solutions
    • Marketing Solutions

    Talent Solutions

    Talent solutions refer to all those services which are offered to companies, including recruiters. This is a premium feature that helps them to hire the most suitable and appropriate candidate who would meet all their requirements. Apart from this, it even offers businesspeople the perfect partner for expanding their business. The key services offered by LinkedIn under Talent Solutions includes:

    • LinkedIn Recruiter
    • Recruitment Media
    • Work With Us Ads
    • Job Slots
    • Career Pages

    Apart from these advantages which LinkedIn provides to its users registered as recruiters, it’s also a boon for employees. It helps them enhance and hone their skills with millions of courses that are available in premium versions.

    Now, you might be wondering why LinkedIn? While there are other job portals, why is LinkedIn so popular? Then, let me tell you this. On other job portals, the users need to look for jobs themselves. However, on LinkedIn, users need to exhibit their skills and talents which will make them their brand and attract recruiters. Well, this is one of the key services offered by LinkedIn.

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    Marketing Solutions

    LinkedIn Marketing Solutions
    LinkedIn Marketing Solutions

    Along with talent solutions, LinkedIn also provides marketing solutions. Do you want to know how it does so? Then, let’s dive deeper. Besides being a professional platform, LinkedIn also lets companies launch and execute their perfect marketing strategies in their campaigns. The company can have its page on LinkedIn. In addition to this, the company can also improve their efforts in marketing by using tools for the creation of:

    • Sponsored Content
    • Sponsored Email
    • Text Ads

    Both these services provided by LinkedIn also contribute to its methods of generation of revenue.

    LinkedIn Business Model

    We know that Facebook and other social networking sites make their money by advertising. However, LinkedIn has an entirely different model for the generation of its revenue. The business model of LinkedIn may be classified into the following types:

    Let’s discuss these terms in detail.

    Business solutions

    LinkedIn Business Page
    LinkedIn Business Page

    LinkedIn is the most popular professional platform where everyone can join. Every user joins LinkedIn for various purposes. Some users join to find suitable jobs. On the other hand, some others join for generating leads or learning key concepts of business. LinkedIn has solutions for satisfying every user’s needs. The two basic business solutions provided by LinkedIn include talent solutions and marketing solutions.

    Talent solutions contribute about 65% to the business model of LinkedIn. In addition to this, marketing solutions are about 18% of the business model of LinkedIn. This is how LinkedIn provides a vast arena for recruiters and employees. Both of these communities are benefited from this learn and earn platform. This is how LinkedIn makes money by providing business solutions.

    Premium Subscriptions

    Not all users join LinkedIn for the same purpose. This is why LinkedIn offers certain features and plans for its premium users. These premium features and plans are specially designed according to the demands of the user. The basic premium subscriptions available includes:

    • Career
    • Business Plus
    • Sales Navigator
    • Recruiter Lite

    Let’s know more about each of these subscriptions.

    Career Solutions

    The features offered to the users by the Career Solutions subscription of LinkedIn include:

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    –

    Business Plus

    The features offered to the users by the Business Plus subscription of LinkedIn include:

    • Search for and look at an unlimited number of profiles.
    • Gain access to the InMail feature of LinkedIn by which one can connect and contact any LinkedIn user.

    Sales Navigator

    In this Sales Navigator subscription, premium users enjoy the privilege to boost up their strategies of social selling. There are various tools such as InMail, enhanced search, saved leads, sale insights, and lead recommendations. All these tools are very beneficial for marketers and businesspersons.

    Recruiter Lite

    This feature can be called the simpler version of the Talent Solutions Feature. Apart from the basic features, the other features offered to the users by this subscription includes:

    • Automatic tracking of candidates.
    • Smart and enhanced suggestions.
    • Designing websites specific to those of ideal recruiters.
    • Integrated hiring of employees.

    These premium subscriptions of LinkedIn help LinkedIn to generate revenue.

    LinkedIn Acquisitions & Partnerships

    LinkedIn Learning logo
    LinkedIn Learning logo

    LinkedIn has acquired and has extended partnerships with other brand platforms which contribute to its business model. The platforms and companies acquired and partnered by LinkedIn include:

    LinkedIn Learning is an acquisition of LinkedIn which was previously known as Lynda. However, the operating model of the platform remains the same where it continues to be an e-learning platform. The users can have a revenue model after buying a subscription. They can even learn various professional skills via videos.

    LinkedIn Acquisition of SlideShare | LinkedIn SlideShare
    LinkedIn Acquisition of SlideShare | LinkedIn SlideShare

    SlideShare is a slide hosting platform acquired by LinkedIn in 2013. This platform allows users to upload and post their PowerPoint, OpenDocument, keynote, and PDF both in public and private mode.

    All these acquisitions and partnerships have even helped LinkedIn generate its revenue.

    Conclusion

    The business model of LinkedIn is quite different and unique from other networking platforms. It’s a very beneficial platform where even surfing and scrolling helps you in your growth and development. This is how it stands away from Facebook, Snapchat, Twitter, Instagram.

    The platform hasn’t gained enough popularity. However, with its amazing features both at free and premium platforms the company is growing. Over the years, it has gained the trust of its users and has been the first preference both for recruiters and employers.

    FAQs

    What is LinkedIn How does it work?

    LinkedIn is an online platform to connect with professionals and grow your professional network worldwide.

    Does LinkedIn cost money?

    LinkedIn provides free Social networking service. There are additional features provided by LinkedIn which are paid services.

    How does LinkedIn make its money?

    LinkedIn’s makes money through its talent solutions, marketing solutions, and premium subscriptions.

    Is LinkedIn for business free?

    Anyone with a company name and company email address can create a LinkedIn Company Page within minutes. The best part is that it’s free and easy

  • 15 reasons to outsource Customer Service in 2021

    An excellent customer support service is an incentive to loyalty for more than 90% of users. This implies that nearly every customer notices how a firm communicates with them, reacts to requests, and handles complaints. A company’s revenue often falls in synchrony with the ways of its communications and how instant they are. In an economy that has shifted into top gear and is continuously growing, business leaders are compelled to make difficult decisions when it comes to customer support strategy.

    One of the critical decisions they have to make is whether to outsource or maintain customer service in-house. Outsourcing customer service means the firm delegates all responsibilities related to client requests to a professional call centre staff. This isn’t to say that the company isn’t involved in client communications. It simply implies that there is less of a hands-on aspect to the engagement.

    There are a number of convincing reasons why outsourcing customer service is the better option. This article will go over 15 important considerations to ponder upon when choosing a customer support solution for your business. Let’s get it cracking!

    1. Economical

    Businesses have discovered that outsourcing customer service to a third-party provider saves them a considerable amount of money each year. It is only natural that this is the case. Vendors already have the infrastructure required, trained Personnel to provide appropriate coverage, as well as processes that are simplified to increase efficiency without the need for trial and error.

    Implementing an in-house solution, on the other hand, would need a significant commitment of time, money, and resources, which otherwise is eliminated by outsourcing. It involves just paying for the actual time spent on calls and requests by agents. The company avoids having to train employees, offer the required software, or deal with vacation or sick days.

    2. Improved Scalability

    Outsourced customer service, in addition to being cost-effective, allows a business executive to promptly develop operations to meet current and future business demands. It’s difficult to balance everything when the sales personnel is swamped with lead after lead and client after client, and some prospects fall through the cracks.

    The arduous task of scaling support operations is taken up by a third-party provider with all of the required resources and skills. Outsourced customer service may reach out to anyone who has dropped out of the sales process and rekindle business by conversing with them.

    3. Trained Workforce

    A vital in achieving highly successful customer support is workforce training. Agents should be equipped with appropriate technical knowledge to browse and manoeuvre around business software essential in providing efficient client solutions.

    However, training a staff full of specialists requires a significant financial commitment on the part of the company. Collaboration with a third-party vendor can help the business reap the advantages of a skilled workforce without incurring the associated expenditures. That’s a win-win!

    4. Availability of best-in-class technology and processes

    Outsourced customer service providers of a good repute know how important it is to meet client expectations. They make certain that procedures are in place to cut down on time typically wasted on waiting, or the Average Waiting Time (AWT).

    To increase operational efficiency, they also use best-in-class technologies. Vendors who combine effective technology and efficient procedures in these and other ways may provide unrivalled customer care to their clients.

    5. Ability to Concentrate on Essential competencies

    Irrespective of the industry, customers generate the animus to keep a firm running. This proposition makes effective Customer Service a prerequisite for a successful business.

    This is where an outsourced customer support solution comes in handy. It allows the business owner to focus on what they do best while still providing excellent customer service. What’s better, it does not cost an arm and a leg!

    6. Hiked revenues

    Customer experience is the biggest battle to conquer in the corporate world. The preponderance of customers considers the way a company treats them, rather than product quality or price, to be the most important factor in deciding whether or not to remain loyal to the corporation.

    With the aid of an outsourced service, a business owner can serve the attention customer service deserves in order to stretch profit margins.

    It’s especially useful for firms that have a seasonal peak in sales volume at particular times of the year, such as the hospitality industry. In those circumstances, the outsourcing model for customer service becomes highly advantageous, since more employees can be quickly allocated to answer client inquiries and orders.

    7. Amplified Customer Loyalty

    Customer support professionals provide an edge to a firm for a greater level of customer loyalty. The simpler a transaction is for a client, the more likely he or she is to do business with the company again. Outsourced service assists in establishing trust and confidence in customers by reducing friction in critical areas of client interactions, resulting in a more loyal client base.

    8. Improved Customer Service across channels

    A multifaceted presence and approach towards customer service are pivotal in the success of a firm. An outsourced team of specialists in charge of this sector of the company may reach out to a bigger number of people using a range of platforms. They may also address customers and provide them support over social media and emails. This allows a business to connect with its customers on a variety of levels, as well as increases its chances of attracting new ones.

    9. Tailor-made solutions

    Adaptability and flexibility are two of the most important qualities to look for when outsourcing customer support. A business owner may rest assured that every one of his or her clients will receive the support they seek in the timeframe they specify.

    A business executive will have no difficulties in maintaining a loyal customer base if he/she regularly delivers personalised client services.

    10. Benefits of Data Collection and Analysis

    The ability to collect and analyse relevant data is another compelling line of reasoning to outsource customer service. Outsourcers may gather a lot of data on customers, helping business owners to better understand their specific needs. They may use the knowledge they gain from this data to improve their firm in a variety of ways.

    11. Greater control over phone calls

    Although telephone equipment is costly, it allows businesses to cater better to their clients. They will cut down on the expenses of these premium advantages because external agencies already have the system in place. Businesses gain access to customer support 24 hours a day, seven days a week, as well as call queueing and rerouting tools that ensure calls are made to the correct person every time.

    12. Better control than In House

    The shift of a company’s customer service and support operations from paid personnel to unpaid or low-paid online communities is known as ‘unsourcing’. In recent years, larger businesses have turned to unsourcing as a method to save customer service expenses. This technique relies on customers’ prior knowledge to help beginner users troubleshoot difficulties, but it might have unforeseen repercussions. It can’t be utilised for any issue involving a customer’s personal information, and if the information is incorrect, unhappy customers will overwhelm the business’s social media handles with messages.

    13. Linguistic Expansion

    Companies that outsource customer support overseas might expand their client base by offering more than simple English as a language choice. The less availability of this feature allows business owners to enjoy the perks by simply publicising the firm’s multi-lingual customer services to make potential customers aware.

    14. Decreased response time

    Many clients are said to never repeat business with a firm that fails to meet their expectations even once. That’s a fairly tough hurdle to clear. However, if they’re shopping and the business is unable to answer inquiries, its prospective followers will become consumers of a different brand. Outsourcing provides a larger number of agents that make the task of reducing response time lighter, which is the primary driver of client success and happiness.

    15. Risk Management

    One of the most significant advantages of outsourcing customer service is that it lowers the company’s total risk. Outsource providers typically offer excellent insights into how to minimise potential business hazards as a result of their expertise, making it easier to avoid risks without having to do everything alone.

    Outsourcing also guarantees that the business’s structure is more stable, putting the organisation at a reduced risk. As a result, the firm becomes a safer investment, encouraging investors to support the company’s expansion.

    Conclusion

    The best way to expose a business to field experts is by outsourcing the customer service operations, which is the first step in creating a positive client experience and one of the most rewarding decisions a company can make. Summa summarum, outsourcing services that the business owners do not specialise in, allows them to focus better on their main operations and provide better results for their clients.

    There’s no need to waste time and money on training and paying new employees’ salaries and perks. They boost the customer service side of the firm by allowing more capable people to manage the burden. Outsourcing may result in a more well-rounded company than if entrepreneurs bite off more than they can chew by doing everything in-house. All of this may lead to increased revenues and chances for the firm to grow.