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Tag: bangalore startups

  • Recko – Simplifying Financial Operations for Businesses

    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 Recko.

    Most entrepreneurs stress the challenge of reconciling transactions; it’s one of those necessary evils that everyone has to deal with but no one wants to do. We’ve heard individuals complain about the necessity to reconcile payments over the years in banking and payments. Over last few years, there has been a continual increase in the number of online payments, making it tough for many businesses, banks, and financial firms to keep track of expenses flowing around the organization. Recko is a corporation that specializes in financial reconciliation. Started with the mission to help businesses manage their financial operations with agility, simplicity, and innovation, Recko aids businesses that deal with several legs of payment processing as part of their daily operations in keeping track of and reconciling all financial transactions. Recko has reconciled over 250 million payments valued at over $2 billion in its first year alone.

    Recko – Company Highlights

    Startup Name Recko, Inc.
    Headquarters Bangalore, Karnataka, India
    Industry Financial Services, Software, FinTech, SaaS
    Founders Prashant Borde, and Saurya Prakash Sinha
    Founded 2017
    Current CEO Saurya Prakash Sinha
    Website www.recko.io

    Recko – Latest News
    About Recko and How it Works?
    Recko – Logo
    Recko – Founders and History
    Recko – Mission and Vision
    Recko – Products and Services
    Recko – Business Model & Revenue Model
    Recko – Revenue and Growth
    Recko – Funding, and Investors
    Recko – Competitors
    Recko – Challenges Faced
    Recko – Future Plans
    Recko – FAQs

    Recko – Latest News

    In October 2021, Recko got acquired by San Francisco-based Fintech company Stripe. Stripe offers a wide array of services including payment and billing services, and tools for managing business operations. By acquiring Recko, Stripe is set to expand its services further. As per the deal, Recko’s entire team will join Stripe’s remote engineering hub and will work to develop and scale Stripe’s products.

    About Recko and How it Works?

    Through Accounting reconciliation, businesses can keep track of their transactions. With the expansion of business, reconciliation becomes a tough job. Especially with more and more online transactions being done these days, reconciliation has become even more cumbersome.  This is where Recko helps.

    Recko is a Software as a service reconciliation artificial intelligence-based software that assists finance teams at eCommerce marketplaces and transactional platforms in keeping track of the entire transaction cycle and business deals in order to avoid slipping and tripping hazards.

    “The finance department on the merchants’ end is continuously dealing with this complexity of matching the right amount to right order, returns/ replacements and a lot of orders also move between months. All they have excels, spreadsheets and traditional ETL (extract, transform, load) tools which are cumbersome and error-prone. This is where we come into the picture,” said Saurya Prakash Sinha, Recko cofounder and CEO.

    Recko was created with the goal of providing financial stability to businesses with significant transaction volumes, such as e-commerce platforms, insurance companies, and banks, by automating the entire reconciliation process. It ensures that each transaction is recorded and that all settlements are completed on time because it is an independent third-party transaction reconciliation layer.

    “This also helps when customers have to be refunded as we use many different ways to make a single payment these days (including wallets, vouchers, gift cards, net banking and CC),” added Prashant Borde, cofounder and CTO at Recko.

    Besides reconciliation, Recko also helps businesses in commission calculation, Payout creation, and reporting, to aid businesses to track, manage and account money end to end.

    Recko’s current team consists of 60 people with extensive experience working for e-commerce and fintech companies such as Flipkart, Amazon, Nutanix, PhonePe, Ola Money, Razorpay, and others.

    Recko – Logo

    Recko's Company Logo
    Recko’ s Company Logo

    Recko – Founders and History

    IIT Gandhinagar alumni Prashant Borde and Saurya Prakash Sinha launched Recko in 2018.

    Founders of Recko - Prashant Borde and Saurya Prakash Sinha
    Founders of Recko – Prashant Borde and Saurya Prakash Sinha

    Prashant and Saurya are serial entrepreneurs and have have robust industry experience.  Prashant Borde co-founded shared computing platform GridAnts in 2012, which was later renamed Cubeit. The platform was acquired by Myntra in 2016, after which Prashant joined Jio.

    Saurya worked for industry leaders like Flipkart and Phone Pe. In 2015, Saurya co-founded urban logistics and on-demand delivery platform ‘Townrush’, which was later acquired by Grofers. Saurya joined Grofers as AVP(product) after the acquisition of Townrush.  In 2017, Saurya founded Recko along with Prashant.

    The duo had hands on experience of developing processes that aided the product and finance teams in contributing to the company’s growth and accelerated financial governance. This led them to discover that organizations of all sizes battle to keep track of payments and face manual restrictions when it comes to reconciliation, computations, and scaled monetary operations management. Thus  Saurya and Prashant decided to intervene and help businesses to manage their finances better by simplifying reconciliation, commission calculation, Payout creation, and reporting.

    According to its founders, Recko reconciled transactions totaling $2 billion in its first year of business. Grofers, Dunzo, FreshMenu, and Meesho are just a few of its clients. It also has different monetizing methods in place, depending on the client’s needs, including volume and per-transaction costs.

    Following are some of the primary gaps Recko is trying to close –

    • Unstructured data in large quantities
    • Use of a large number of people
    • Transparency and traceability of operations are lacking.
    • Time and expense spent on reconciliation have grown.

    AI plays a role in resolving these issues on various levels. First, algorithms aid in the extraction of relevant information and analysis from more than 80% of data, which is critical in the financial domain because fintech models would be unable to function without data.

    Furthermore, because they can’t always trace an error back to its source, most organizations set aside a specific proportion of revenue error to accommodate for reconciliation checks. To close this gap, Recko automates the reconciliation process, making it possible to track financial data throughout its full lifecycle. It accomplishes this by utilizing APIs to link with payment gateways, banks, and merchant order management systems, allowing firms to track receivables and uncover settlement problems. According to Recko, this reduces manpower investment by 50 percent to 60 percent.

    Recko – Mission and Vision

    Recko’s mission statement says, “Recko was started with the mission to help businesses manage their financial operations with agility, simplicity, and innovation. Today’s businesses need a collaborative interlock between their finance, product, and business functions to grow exponentially and stay ahead of the competition. Be it reconciliations, payment operations or complex commission calculations; Recko does it all.”

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    Recko – Products and Services

    • Reconciliation –  Bringing your company’s transactions up to date in terms of accuracy, efficiency, and speed.
    • Commission Calculation – Automate your entire charge calculating procedure and keep track of external payment SLAs.
    • Payout – To disburse payments to customers and subcontractors, the company integrates easily with payment partners.

    Recko – Business Model & Revenue Model

    Recko is a B2B company, and earns revenue by charging subscription fee from its clients.

    Without writing a single word of coding programs, Recko allows financial teams to ingest, enrich, and reconcile millions of transactions in hours rather than days. Recko cuts labor by 50 to 60 percent while keeping a close eye on transactions to guarantee money goes to the right parties at the right time with the correct deductions.

    Recko is now processing enormous amounts of transactional data to digitize financial control within organizations, as well as developing Machine Learning models to detect abnormalities, risk, and intelligence in the money flow.

    Recko – Revenue and Growth

    The revenue for the Fiscal Year 2019 was USD 388K, up from USD 186K in the previous year. Recko’s customer’s includes top marketplaces like Grofers, Meesho and Dunzo.

    Recko – Funding, and Investors

    In its latest round of Series A funding raised on April 2020, Recko received $ 6 million. Vertex Ventures SEA and India led the financing, with Prime Venture Partners joining as an existing investor. Here are Recko’s funding details-

    Date Round Amount Lead investors
    Apr 2, 2020 Series A $6M Vertex Ventures Southeast Asia & India
    Aug 27, 2019 Seed Round – –
    Jun 26, 2019 Seed Round $1M Prime Venture Partners

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    Recko – Competitors

    iPaymy, Pulse iD, SAP Concur, Sage Intacct, G2 Deals, Bill.com, Tradeshift, Invoiced, DocuWare, Spendesk, Riovic, and SureCash are among Recko’s main competitors.

    Recko – Challenges Faced

    The product needed to be stable because the company was working with extremely large data volumes. As they add features to the product, it continues to evolve. The aim is that the number of problems and inconsistencies will decrease as time goes on. Since the platform handles finances, the team at Recko needs to be extra careful so that nothing goes wrong.

    “We needed to be precise, and we needed to be correct at scale. The crew spent a significant amount of time double-checking the figures.”, the Recko CEO said.

    On the technology side, figuring out how to process these transactions was a significant issue for everyone on the team, since this used to take them over 3-4 days to handle more than 50-60 million transactions. They can now complete it in 30 minutes.

    ” for reconciliation, we are almost running at 100 million transactions in one hour. So the systems are becoming much faster. The idea is how do we do this at a much cheaper cost and faster. So this is where a lot of investment is going in,” said the CEO, Saurya Prakash Sinha.

    Supporting scale was one of the issues they confronted. To make scale and security a basis in the architecture, Prashant says they had to redo a major portion of the first iteration.

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    Recko – Future Plans

    “As we onboarded new customers, we realized that businesses looked at data very differently across industries. We did not want to leave any stone unturned, but we had a mission — to give the best of it. We added analytics, custom reports, commission calculation, and other integrations including storage services, payment gateways, and banks,” says Prashant.

    The team quickly began working with clients from various industries and geographical places. Recko introduced geographies such as Southeast Asia and the European Union. Versioning was also released to support audit logs and time travel capabilities that needed to be reworked to allow future growth.

    “We are planning to open APIs as well so that they can be integrated deeper into companies’ tech stack to solve a multitude of problems. Our long-term goal is to provide enough insights that enable businesses to make financial decisions in real-time,” says Prashant.

    Recko – FAQs

    What does Recko do?

    Recko is a Software as a service reconciliation artificial intelligence-based software that assists finance teams at eCommerce marketplaces and transactional platforms in keeping track of the entire transaction cycle and business deals in order to avoid slipping and tripping hazards.

    When was Recko founded?

    Prashant Borde and Saurya Prakash Sinha launched Recko in 2017.

    Which companies do Recko compete with?

    iPaymy, Pulse iD, SAP Concur, Sage Intacct, G2 Deals, Bill.com, Tradeshift, Invoiced, DocuWare, Spendesk, Riovic, and SureCash are among Recko’s main competitors.

  • CareerLabs: Building a Road Map of Success for College Graduates

    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 CareerLabs.

    Bangalore-based CareerLabs is an EdTech platform helping young professionals and college graduates build a concrete road map for their careers. It is India’s first Profile-Building Platform to help students prepare for their professional life beyond college. The startup has conducted more than 150 Recruitment drives and partnered with various other industry leaders like DR. Reddy’s, HelloIntern for exclusive programs that bring students closer to the industry and provide direct Job Opportunities.

    StartupTalky interviewed Mr. Santosh P N (Co-founder & CEO, CareerLabs) to get insights into the startup story and the roadmap of the organization. In this article, you’ll know how Byju’s ex-team founded CareerLabs, its business model, future plans, and more.

    CareerLabs – Company Highlights

    Startup Name CareerLabs
    Founders Santosh P N (CEO), Krithika Srinivasan (Director, Service delivery)
    Headquarters Bangalore
    Founded 2019
    Industry Edtech
    Website thecareerlabs.com

    CareerLabs – About and Vision
    CareerLabs – Market Opportunity
    CareerLabs – Inspiration and Idea
    CareerLabs – Product/Service & USP
    CareerLabs – Founders and Team
    CareerLabs – Name, Tagline and Logo
    CareerLabs – Business Model & Revenue Model
    CareerLabs – Startup Launch
    CareerLabs – Challenges Faced
    CareerLabs – Funding & Investors
    CareerLabs – Competitors
    CareerLabs – Tools used to run the startup
    CareerLabs – Awards and Achievements
    CareerLabs – Future Plans
    CareerLabs – FAQs

    CareerLabs – About and Vision

    CareerLabs is on a mission to enable 1 million students to learn and earn better with the necessary guidance. Most students in college aspire to land their dream job, but due to the lack of industry-relevant skills, they end up in the wrong placements. Students in their initial careers need hand-holding; at CareerLabs, the team offers students more than six courses that fit their interests and strengths with its career recommendations track. It is a year-long journey that students take up with CareerLabs and with real-time projects and hands-on experience at the end of the courses. These projects and experiences help students kick start their careers.

    CareerLabs Growth
    CareerLabs Statistics

    CareerLabs – Market Opportunity

    CareerLabs services undergrad college students to pursue up-skilling towards higher studies and placements. This is enabled through courses, test preparation classes, consulting services, and self-learning modules. It caters to all graduate students across India. The opportunity size for this market in India is $2.51 Billion that covers skilling, certification, and higher education.

    In the next five years, the market opportunity of Career Labs is –

    CareerLabs Industry Details
    CareerLabs Market Opportunity

    CareerLabs – Inspiration and Idea

    PN Santosh (Co-Founder/CEO,) Krithika Srinivasan (Co-Founder/Director service delivery), and Prasanna (VP, People & Process) have been part of leadership roles at Byju’s. Santosh was one of the founding members of Byju’s from 2008 to 2019. He was also the first student of Byju’s in 2007 and first employee in 2009. The relationship with Byju’s goes long. Santosh was looking after the entire test preparation domain in Byju’s where he was helping students with GRE, GMAT, MBA admission in India & abroad, and anything related to college students going for a master’s program.

    Krithika, now Co-Founder and Director of Service Delivery at CareerLabs, joined Byjus where she used to take care of Admission Consulting services. Krithika is a double master’s from the University of Michigan and also India’s only Harvard-certified admission consultant. Prasanna who later joined the team at Byju’s is an IIM Bangalore graduate and was looking after the B2B marketing initiatives.

    Clocking $4 million in revenue and on the way to hitting $10 million, the trio had already built a massive connection with colleges and was actively servicing around 15,000 students for Byju’s. In 2019, this college segment became smaller and smaller as Byju’s started focusing on school students. Whereas, the current founding team of CareerLabs was always determined to serve the college segment. Thus, the decision to start CareerLabs was marked upon in August 2019.

    The idea here was to have a solid focus on college, their students, and help them in their career path, whether it’s a master’s program or getting into a perfect job. They started with a hundred-member team and now have close to 200 members with base offices across Bangalore, Chennai, Hyderabad, Delhi, and Mumbai.

    Santosh PN (Co-founder & CEO) added – “The inspiration was, if you go to any college today, not more than 20% of students want to think about a master’s as their primary choice after graduation. Majority of the students are looking for jobs, and it’s understandable. Many of them would have taken a bank loan to do a master’s for graduation, a family situation, or might be looking for a break. All of this pushes them towards taking up a job. So many college TPO, Principals, Chairman, and students came to us and asked, why don’t you help our students in terms of getting a good job, because that is a primary requirement”

    CareerLabs – Product/Service & USP

    CareerLabs predominantly works with pre-final engineering college students where the students join its flagship one-year-long profile builder program.

    CareerLabs - Service/Product
    CareerLabs Profile Builder Platform
    1. Career Discovery & CareerWizard: When students sign up for the program, the team at CareerLabs first moves them from confusion to clarity. They help students understand the best-suited platform. They call this step Career Discovery. What happens in the space is, students take a bunch of diagnostic tests, the data is fed into the recommendation engine called CareerWizard. This helps the team to map the data to the right career track. It’s an AI-based recommendation engine. Krithika (Co-founder) is the brain behind the design and modeling of this engine.
    2. CareerLabs has successfully built some attractive models, where the moment a student enters the platform, the model can map the student to a cohort of students in the last few years. Based on this data, it recommends the top six career options, which are the students’ best fit.  
    3. This journey is mostly completed in the 3rd year of college; now, when students enter their 4th year, they have to decide whether they want to go for a job or go for a master’s program. Depending on their decision of a job or a master’s program, CareerLabs prepare them accordingly.
    4. For instance, in the case of employment, CareerLabs does the finishing school aspect where the team focuses on actual soft skill training, technical interviews, and prepare for the recruitment drive they conduct on their platform.
    5. In a master’s program, the startup prepares the students for entry-level exams like GRE, GMAT, etc., and helps them get into a good and best-fit master’s college.

    USP of CareerLabs: It has 55+ career tracks on its platform and the team works with the industry with relevant industry-related content on the platform. The recommendation engine has been a huge hit amongst the students, one of the major reasons why they sign up for programs with CareerLabs. It is the only platform in India that is focused on providing end-to-end solutions to help students build their Profile for various goals in Higher Studies and Placements.

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    CareerLabs – Founders and Team

    PN Santosh (CEO) and Krithika Srinivasan (Director service delivery) are the founders of CareerLabs.

    • Santosh drives Revenue and growth
    • Krithika drives Service Delivery and Operations
    • Prasanna drives People and Platform Product
    • Current team size: 200+ Employees
    Founders of CareerLabs
    CareerLabs – Founders and Team

    Commenting on the work culture and hiring nature of CareerLabs, Santosh said –

    As a team who has been inside BYJU’S and seen growth, we knew from day 1 that the right culture and right values with aggressive growth are the foundational DNA of CareerLabs. When we are working directly with students and hand-holding them to craft their careers we cannot afford mistakes. Hence the culture is highly individual ownership driven that enables us to scale holding the right values.

    When it comes to career options, students need to explore, experiment, and then decide the right path. What better way to do it than in a Lab, that lets them experiment and explore their Career options before deciding, with proper guidance. Thus ‘CareerLabs’ – the go-to place for all your career needs.

    #Discover #Explore  

    CareerLabs – Logo

    CareerLabs – Business Model & Revenue Model

    CareerLab’s Products, Services, and Courses are the revenue-generating units of the business. Customers subscribe for the use of its platform and services on an annual basis. It generates revenue through subscription fees.

    It also generates revenue when students take upon the online courses available on its platform. Through the platform, customers upgrade to learning and skilling courses which generate the second part of revenue. Outside of the platform customers directly enroll in its courses which generate the 3rd part of the revenue.

    CareerLabs – Startup Launch

    CareerLabs had a running channel of college partnerships which the team leveraged to engage and onboard the first 100 customers for the flagship profile builder product. Though they had the tools to automate this process, the team decided to opt for a manual approach to get first-hand feedback from each student at each step and of course, correct the workflow and services. This helped them in tweaking their product.

    “Students don’t join us for a course, they join us for a journey”, Santosh added. It’s long and it’s rewarding. This is the basic approach they take up in the platform. Students who enroll, travel this journey as a group with other peers in the program, and hence there is inbuilt community support that drives participation and completion. The user retention is anchored on the DNA of the Platform.

    As a platform for students’ skilling and growth, CareerLabs brings all stakeholders into a single place to let interactions and synergies evolve. This was strategically planned so that they had various engines of teams and platforms running for each stakeholder of this platform. It had a student engagement engine and the team kept scaling their outreach to the level that as of now CareerLabs has reached out to more than 200,000 students and engaged them actively.

    Colleges trust CareerLabs to deliver what it promises due to various strategic moves like the partnership with AICTE. CareerLabs is the official partner of the AICTE NEAT 2.0 initiative under the Ministry of Education, GOI

    There is a Corporate outreach engine that engages and brings in meaningful opportunities for students including exclusive workshops, job opportunities, internships, and industry-led training programs. The startup has conducted more than 150 Recruitment drives, partnered with various other industry leaders like DR. Reddy’s & HelloIntern, and signed an MoU with Tech Mahindra for exclusive programs that bring students closer to the industry and provide direct Job Opportunities.

    A variant of its offerings is a CareerLabs Assured Placement Program, this program was an instant hit amongst college students.

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    CareerLabs – Challenges Faced

    Just like most initiatives, CareerLabs also faced pandemic challenges. The resolve of the team was to the level that they met the Covid-19 challenge head-on. With so many uncertainties for students and colleges, added to that economic downturn that dried up the job market for freshers, the CareerLabs team worked round the clock to help students in these difficult times.

    While the startup’s revenues also took some hits at an early stage, it recovered well with full digitization of its student engagements and brought one step ahead on adjusting the evolving behaviors and learning patterns of the students. As a brand that is taking students through the journey of Profile Building, CareerLabs’ major challenge was to evangelize the concept of Profile building for students. 90% of students were unaware of this. Students were under the impression that doing a course or a certification can land them a job! This led them to sign up for run-of-the-mill services where they ended up losing money and time.

    CareerLabs started by evangelizing the concept of Profile building through workshops for more than 1.5 Lac students over 1.5 Years continuously both physically and digitally. This was building India’s 1st Profile Building Platform in the form of the ELEV8 App that provides students an experiential journey for students.

    As a startup that is ambitious and rapidly scaling, the team experiments at the frontier opportunities and technologies. One of its experiments that worked well is the recent initiative to organize placement opportunities for more than 3500 students from Engineering colleges in Telangana within a span of 3 weeks.  

    CareerLabs – Funding & Investors

    CareerLabs has raised USD 2.2 Million in its Pre Series A funding (equity funding).

    It will be spending 30% of this funding for technology development (including enhancement of the AI-based recommendation engine and completely automated servicing portal), 40% for new product development (including in house content development, an app for nurturing and servicing the students, and unique product for international markets) and 30% for recent talent acquisition (esp. in product, tech and sales roles).

    CareerLabs – Competitors

    CareerLabs, as a platform, works with students to solve multiple pain points. For each of these pain points, there will be a discrete local competition. But no one can provide a complete holistic end-to-end solution for college students at scale and at an affordable price.

    Hence at a Profile Building Platform level, there is hardly any competition for CareerLabs. Nevertheless, the competitive advantage for CareerLabs comes from a combination of excellence in product, data-driven Intellectual Property. The Profile Builder Product is solutioning at a level that other course solutions providers cannot scale too. The Recommendation engine, which personalizes the entire Profile building journey, ensures students’ right fit and stickiness.

    CareerLabs Competitors
    CareerLabs – Competitive Landscape

    CareerLabs – Tools used to run the startup

    • Leadsquared for CRM
    • CleverTap for Product Data / Marketing Analytics
    • DoveTail for Customer Research
    • Jira for Project Management
    • Exotel / Ameyo for Calling solutions
    • Gsuite for Emails, among many

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    CareerLabs – Awards and Achievements

    CareerLabs was awarded the Future of Workforce award in 2020 for the APAC region in the APAC EdTech Competition.

    CareerLabs – Future Plans

    “Sustained, aggressive Growth is our mantra as we head towards directly impacting and working with 1 Million students to help them learn and earn better” Santosh added.

    CareerLabs is expanding geographically across all regions in India with centers coming up in Delhi, Mumbai, and Hyderabad.

    It is expanding its product portfolio to help Engineering, BBA, and soon Commerce students and colleges. Apart from this, the startup also plans to expand into various higher education admissions spaces across specializations.

    The CareerLabs ELEV8 app is going to do what BYJU the learning app did in the School space. The app is providing a solid platform for students to explore, build a profile and apply to jobs and internships in a single place. The added advantage of the app is the unique Higher education options and exploration built in to cover end-to-end requirements for students.

    CareerLabs – FAQs

    What is CareerLabs?

    CareerLabs is India’s first Profile-Building Platform to help students prepare for their professional life beyond college.

    Is CareerLabs an Indian Company?

    Yes. Careerlabs is an Indian company headquartered in Bangalore, India.

    Who founded CareerLabs?

    PN Santosh (CEO) and Krithika Srinivasan (Director service delivery) are the founders of CareerLabs.

    How does CareerLabs make money?

    CareerLab’s Products, Services, and Courses are the revenue-generating units of the business. Customers subscribe for the use of its platform and services on an annual basis. It generates revenue through subscription fees and also by selling its courses online.

    How much funding has CareerLabs raised?

    CareerLabs has raised USD 2.2 Million in its Pre Series A round.

  • Neokred – B2B startup introducing ‘Bank in a Box’ concept

    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 Neokred.

    Neokred’s NeoBox is aimed to be the one-stop platform to service any fintech use cases, whether it can be facilitating BNPL to your end-users, credit cards to your employees, virtual bank accounts for salary disbursement, and even having your own POS terminal. All in your brand name with Neokred being the powering entity.

    StartupTalky interviewed Mr. Tarun Nazare (Co-founder & CEO, Neokred) to get insights on the startup story of Neokred and its roadmap ahead. In this article, you’ll discover how Neokred started, its product offering, funding details, growth and more.

    Neokred – Company Highlights

    Startup Name Neokred
    Founders Tarun Nazare (CEO), Rohith Reji (CBO)
    Headquarters Bangalore
    Industry Fintech
    Website neokred.tech

    Neokred – About
    Neokred – Industry Details
    Neokred – Idea & Inspiration
    Neokred – Product/Services
    Neokred – Founders and Team
    Neokred – Name Meaning & Logo
    Neokred – Launch and Marketing Strategies
    Neokred – Challenges Faced
    Neokred – Current Stats & Growth
    Neokred – Funding and Investors
    Neokred – Awards & Recognition
    Neokred – FAQs

    Neokred – About

    Neokred has created a ‘NeoBox’ signifying ‘Bank in a Box’ concept which facilitates curated cards, bank accounts, and merchant acquiring. Companies who want to provide financial services in a curated format to their users can use this box in a plug-and-play model.

    Neokred’s NeoBox is an aggregation channel that facilitates financial services as a platform plugin in their respective mobile application or ERPs. There are various use cases that are serviceable to the respective market which eases the way of banking and availing financial products. NeoBox can be plugged into all sectors and service any industry type. Currently, services such as prepaid cards are being serviced. In the next few months, the startup is entering into Bank Accounts and Merchant Acquiring space with innovative plugin fintech products.

    “Any company can become a Fintech with our NeoBox Solution. Corporates or Fintechs with existing or new user base and plugin financial services in their own mobile app for their customers. Open Banking is our core belief and we are excited to be in this space at the right time with the right bank partners who think out of the box in innovative new product designs” -says Tarun Nazare, Co-founder & CEO, Neokred

    Neokred – Industry Details

    Any industry can be serviced with Neokred’s NeoBox. For example, Ola scooter getting a vehicle financing option for its customers, Dunzo facilitating Vehicle loans for delivery partners wanting to buy a vehicle, Swiggy introducing Order now pay later, Expense and Incentive cards for supply chain companies, and etc.

    As a B2B company, the market is largely underpenetrated due to the traditional mechanism of payments which makes it interesting to us to be in this space at the right time. The market size of an Open Banking market will touch 43,150 million by 2026 (in the next 5 years), registering a CAGR of 24.4% [Source Allied Market Research]

    In the next 5 years, every company will avail fintech products to their large user base. Innovative fintech companies specializing in each aspect of the banking vertical will be focused upon.

    Neokred – Idea & Inspiration

    Tarun & Rohith were working in the B2B and B2C payments space with Top tier banks to understand compliance, issuance, acquiring roadblocks, and regulatory issues faced by a company that wants to launch a fintech product and service a particular niche in the market. During their tenure, they noticed that the duration of an idea to go live is between 7-12 months and this wait is what is being bridged by Neokred. The days of waiting to launch a product for 7-12 months goes away with Neokred’s NeoBox, companies can now launch their fintech products within 30 days.

    The founders had experienced it themselves while launching their first product in the prepaid card which took about 7 months and had researched and studied other company experiences who were associated with their respective partner bank on availing any fintech product. The market in offering many such fintech products is still underpenetrated even after a decade in the digital economy.  

    While creating the NeoBox, the team spoke to large corporates, SMEs, and Startups to understand the duration and roadblocks they have faced while consulting with a financial institution. Many companies faced the problem of hiring the right technology team for building and integrating the APIs they were given, designing the product with the banking partner which achieves product-market fit for that respective market, and tweaking a service to address a query in a better manner, most of the companies wanted a ready platform and not in an API format to start servicing the user.

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    Neokred – Product/Services

    Neokred’s NeoBox is a platform built to plug and play into any existing ERPs, the SDK journeys are curated as per client expectation and plugged into their respective mobile app for faster GTM. SDKs are in multiple programming languages suited to be integrated seamlessly.

    Neokred product/service
    Neokred’s Neobox

    The platform can service use cases such as prepaid card, credit card with loan management system and risk underwriting, create bank accounts such as salary account, savings accounts and current account with add on features such as Investments, Insurance, fixed deposits and recurring deposits at the moment. The startup has plans to integrate third-party company APIs on the SDK journey that specialize in their own banking vertical such as KYC, Cyber security, AML checks, cust ID generation, and few core banking platforms.  

    Neokred’s NeoBox is aimed to be the one-stop platform to service any fintech use cases, whether it can be facilitating BNPL to your end-users, credit cards to your employees, virtual bank accounts for salary disbursement, and even having your own POS terminal. All in your brand name with Neokred being the powering entity.

    Neokred – Founders and Team

    Tarun Nazare and Rohith Reji are the founders of Neokred.

    They were working in their previous firm as a Finance Manager and VP of sales respectively with Tarun having to work with B2B and B2C payments company and Rohith who had his own startup in the middle east.

    Tarun Nazare | Co-Founder & CEO/CPO, Neokred

    Neokred founders
    Tarun Nazare – Co-founder & CEO of Neokred

    Tarun is a Visionary who handles the Tech and Product in Neokred. Innovating with Payments tech is his hobby as well. He has Certified in Data Science from IIM-K and Certified Product Management from Duke University. Tarun brings around 6 years experience in the payments domain.

    Rohith Reji | Co-Founder & CBO, Neokred

    Neokred founders
    Rohith Reji – Co-founder & CBO, Neokred

    Rohith is a StoryTeller and handles the Business and Strategy in Neokred. Apart from Neokred, he has been the Organizer Head @ TedX and also co-founded a startup named, Onvo.

    Team & Work Culture

    • Team size – 35
    • Work Culture – Startup innovation arena, co-creating innovative products, products built for companies are given free to Neokred employees – Credit card (0% interest), BNPL (0% interest), Insurance (up to 10L) and many more.
    • Hiring funda – People who can think out of the box, problem solvers, designing thinking, and market thinking validators are welcomed.

    Neo = New/Digital & Kred = Credibility, hence, Neokred. The founders believe that it is very important to have digital trust in the digital economy as money matters are very sensitive matters.

    Neokred
    Neokred Logo

    Neokred – Launch and Marketing Strategies

    Understanding client requirements in depth which can be replicated to everyone in that industry is what the team at Neokred focuses extensively on. When they get this right, offering to players in a similar market with all the use cases and problems being addressed is a calculated pitch.

    The startup has been very selective with banking partner tie-ups. For it, if a bank is innovative in nature and is ready to play a product in an open manner, it is the right partner for the company. Banks with legacy systems are least preferred by Neokred and its clients as well.

    The founders have been building in public and taking part in seminars and conferences, this has allowed businesses to recognize Neokred better as a brand which has led to increased sales. As a B2B company, the marketing budget is mostly spent on professional platforms and users are captured in an indirect manner through the clients.

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    Neokred – Challenges Faced

    Making Neokred’s NeoBox a pure plugin platform was the hard part which took the compliance, risk monitoring and management, client and bank expectation of a program. The founders had fruitful discussions with their partner’s product team and they were willing to experiment with the APIs provided.

    One such experiment was co-creating contactless wearables for people who love to go for a jog and not wanting to carry their mobile phone or card. With this contactless launch, Neokred now has 50,000 joggers using it as a key chain.

    Neokred – Current Stats & Growth

    • Head office – Bangalore, India
    • GTV – More than INR 200cr
    • Clients – 25+
    • Bank Partners – Yes Bank, Equitas SFB
    • Monthly Growth – 50%

    Neokred – Funding and Investors

    Neokred has raised total funding of $1.2 Million as of 2021. The funding details of Neokred is as follows –

    Date Stage Amount Investors
    3rd July 2020 Pre-Seed Round $100K Hariharansudhan
    6th September 2021 Seed Round $ 1.2 Million Virenxia, Rajesh Jain, Nitin Agarwal

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    Neokred – Awards & Recognition

    • Young Entrepreneur India from Entrepreneur India
    • Innovative startup of the year from Revopreneur
    • 30 startups to watch – Inc42

    Neokred – FAQs

    What is Neokred?

    Neokred has created a ‘NeoBox’ signifying ‘Bank in a Box’ concept which facilitates curated cards, bank accounts, and merchant acquiring. Companies who want to provide financial services in a curated format to their users can use this box in a plug-and-play model.

    Who founded Neokred?

    Tarun Nazare and Rohith Reji are the founders of Neokred.

    How much funding has Neokred raised?

    Neokred has raised total funding of $1.2 Million as of 2021.

  • How StoreKing is connecting Rural Kirana Stores to Suppliers

    StoreKing was conceived with a simple yet powerful idea in mind – to power rural consumption and redraw the distribution capabilities for both products and services using Kirana as an Anchor. It is the only rural retail ecosystem that connects both retail suppliers and financial institutions to the vast rural population. Through end-to-end technology management, StoreKing powers the local Kirana stores to meet all the retail needs of their rural buyers.

    StoreKing – Company Highlights

    Startup Name StoreKing
    Founder Sridhar Gundaiah
    Headquarters Bangalore
    Industry Rural Retail & Ecommerce
    Website storeking.in

    Why StoreKing Matters?
    What StoreKing Offers?
    Role played by StoreKing during Lockdown
    Key Milestones achieved by StoreKing

    StoreKing Founder
    Sridhar Gundaiah – StoreKing Founder

    Why StoreKing Matters?

    Rural consumers currently constitute about 200 million households across India. As their disposable income levels grow and the penetration of the Internet leads to more mobile consumption, their tastes increasingly mirror those of their urban counterparts and they aspire to buy from the same brands. In fact, in 2018, rural India accounted for $484 billion of retail sales, as opposed to $396 billion in urban India – a number only expected to rise as consumption demand goes up in small villages and towns. There is, undoubtedly, a compelling reason for eCommerce brands to invest in catering to this new population of savvy rural buyers.

    At the same time, however, the big eCommerce and payment brands continue to serve mostly urban customers. This is primarily because of a broken rural distribution network where large-format stores do not exist and keeping Kirana stores well-stocked with branded products is difficult. The lack of a systematic network, moreover, prevents brands from capturing relevant customer data catering to what their customers actually want, forcing rural buyers to make do with only a handful of generic product offerings in the Kirana stores. On average, rural buyers need to travel more than 20 kilometers to the nearest city to make bigger purchases.  

    Through its tech-enabled distribution platform, StoreKing overcomes these engagement barriers for rural consumers by helping local retailers leverage technology and fully tap their market potential. As a friendly neighborhood store that understands local preferences and speaks the local language, the Kirana is a powerful way to connect with rural customers and understand their unique preferences and challenges, which is precisely what StoreKing aims to do.

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    What StoreKing Offers?

    StoreKing offers a user-friendly technology platform that connects each rural Kirana directly with the brand seeking to supply its products, enabling the brand and the Kirana to work together to devise data-guided product and sales strategies. A clean and simple interface enables rural retailers to procure products and services for their customers through the StoreKing app as needed, rather than having to repeatedly travel and pick up stocks themselves. The platform is designed on the following four pillars:

    • Logistics – The platform offers a tech-managed, asset-light distribution network of kiranas and connecting logistics nodes. The network consolidates touchpoints in rural markets and enables stores to stay well-stocked on a daily basis.
    • Payments – StoreKing provides a unique resourceful approach to digitize the rural cash economy. All transactions on the platform are prepaid.
    • Marketing – Rural consumers are engaged via multiple mediums, exposing them to new brands and lifestyle choices.
    • Technology – StoreKing provides a complete app ecosystem to target and manage customers.

    The other component of StoreKing’s offerings relates to financial assistance. It provides secured and unsecured loans, insurance, branchless banking, savings, and wealth management to rural retailers based on their order history and performance. HDFC Bank, Muthoot Fincorp, Hero FinCorp, have all partnered with StoreKing to enable this.

    Role played by StoreKing during Lockdown

    When the Covid-19 lockdown hit in March 2020, an already fragmented rural distribution and logistics network was brought to a grinding halt. At the same time, the influx of locals returning from their urban jobs spiked local demand, for which the kiranas had neither the inventory nor the manpower (owing to social distancing). With a view to empowering kiranas to make it through these challenging times, StoreKing successfully obtained all the necessary permits to continue operations during the lockdown. In addition to regularly sanitizing their warehouses and training all their staff members and partners about safety protocol, senior StoreKing members worked with kiranas to accelerate their digital growth and help them operate as self-sufficient entities.

    In the initial weeks of the lockdown alone, StoreKing serviced over 10,000 kiranas, delivered two million kilograms of supplies, and operated over 700 trucks to fulfill deliveries. They also ensured that the truck operators were well-supplied with meals to help them power through long distances and all-night assignments.

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    Key Milestones achieved by StoreKing

    StoreKing was launched in 2012 with a seed investment from Mangrove Capital and is headquartered in Bangalore. At present, it has a run-rate of Rs 500 crore in products and about 500 crores in Services with over 1000 super franchises and 25000+ franchisees. The team comprises 250+ members spanning eight states, i.e. Karnataka, Kerala, Telangana, Andhra Pradesh and Tamil Nadu, Madhya Pradesh, Maharashtra & Gujarat. The platform currently empowers over 22,000+ Kirana stores in rural India to become assisted touchpoints while driving transactions of walk-in consumers. Some of their prominent retail partners include Hindustan Unilever, Wipro, Dabur, Godrej, Marico, Reckitt Benckiser, ITC, Himalaya & many more. Their vision is to be the one-stop digital hub for rural India, catering to 70% of the country’s demand in an accessible, customer-first fashion.

  • Story of JumboTiger: New-age Property Management Software

    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 JumboTiger.

    Founded by Mayank Pokharna and Subbu Athikunte, JumboTiger is a real-time, collaborative, configurable, new-age property management software that brings multiple features from different apps and software into one platform and contextualizes it for property management of the future. The product developed by JumboTiger is set to go live on 1st Sept 2021 for public use, hurry up to its website & sign up for early access!

    Meanwhile, tag along and read the story behind the ideation of JumboTiger, it is something you can’t miss! Know How JumboTiger came into being, its features, business model, future plans & more. StartupTalky interviewed Mr. Mayank Pokharna to get insights on the journey & growth plans of JumboTiger.  

    JumboTiger – Company Highlights

    Startup Name JumboTiger
    Founders Mayank Pokharna, Subbu Athikunte
    Headquarters Bangalore
    Founded 2020
    Industry Proptech, Property Management Software
    Website jumbotiger.com

    About JumboTiger
    Founders Shift from SimplyGuest to JumboTiger
    Ideation Journey & Launch of JumboTiger
    JumboTiger – Founders and Team
    How JumboTiger Works?
    JumboTiger – Business Model and Revenue Model
    JumboTiger – Funding
    JumboTiger – Future Plans
    JumboTiger – FAQs

    About JumboTiger

    JumboTiger is built on real-time technology (Elixir and Erlang), which opens a lot of different possibilities for the field of property management like easy IoT integrations, better collaborations, live staff management, etc. thus, bringing the physical world operations closer to the digital software world, which is the need of the hour.

    JumboTiger also brings in many features from different apps and puts it right at the core of property management software like inspections, communication, community apps, etc. This expands the whole property management system horizon and enables deeper insights and better control for any operator and property manager.

    Founders Shift from SimplyGuest to JumboTiger

    Mayank & team started SimplyGuest as a shared living business in 2015 with a wide variety of portfolio properties: student housing, housing societies, condos, coliving, hostels, single-family, multi-family, and purpose-built accommodation. SimplyGuest started with the idea of aggregating shared living spaces. They realized huge gaps and created a service solution with the intersection of apartment rentals and paying guest facilities, which later became coliving. They were doing close to $1mn in yearly gross revenue and were bootstrapped. But with the pandemic, a different set of challenges came for an operationally heavy business like SimplyGuest.

    The occupancy started falling as people were moving to their hometowns. The homeowners were not ready to part with any revenues; they were on a master lease model and had to slowly give away possession of the properties to keep SimplyGuest alive. They still kept it running throughout 2020 in the hope that the pandemic will be over soon, that didn’t! While this was happening, Subbu and Mayank started toying with different ideas on making this business work.

    During the same time, a building owner reached out to them after reading blog.simplyguest.com, where Subbu used to write about the technology they had been building for the last 5 years of running SimplyGuest. In addition, he used to write in-depth analyses on how the future of living is service and technology-driven. Finally, the owner asked Mayank & Subbu for the software they had built; this was their eureka moment.

    Mayank & Subbu started exploring the gaps in property management and coliving software domain in the mid of 2020 and looked at the USA, Europe, and UK markets. They spoke to about 70 different property management and coliving operators from across the world. All the existing software was built on older tech stacks; the market’s needs had been changing in recent years, and with a lot of newer technologies at disposal, there was a need to overhaul the property management software space, and thus, JumboTiger came into being.

    It took them around 6 months to build the MVP, and they did a live launch of the beta product on 16th February, which 220 people from 30 different countries attended. Mayank & Subbu showed everyone what the future of property management software would look like. The initial response to the product has been great, and since then, they are working with 7 different customers in beta and developing the product, which is going live for public use on 1st Sept 2021.

    The revenues funded the initial development of JumboTiger they were generating from SimplyGuest; they decided to keep it bootstrapped. However, Mayank & Subbu had a couple of funding opportunities. Property management is one of the oldest professions, and real estate is one of the biggest asset classes with a value of more than 1.4tn dollars, but still, it’s one of the laggards in terms of technology usage. The team believes that it will require patience to get people used to the newer technologies right from the start of their business cycle. Hence, remaining bootstrapped was a conscious choice to keep developing a product with depth.

    “Real estate technology is behind the curve when it comes to property management. However, with the new technologies available, we can change and enhance property management; JumboTiger is our take on that. It brings together real-time tech, collaboration, different feature sets, etc., to make property management more efficient” says Mayank

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    Ideation Journey & Launch of JumboTiger

    With SimplyGuest, they were a mid-sized property management firm handling shared living, coliving, student housing, and single-family properties. While Mayank & Subbu were doing that, they searched for a software platform that could help them manage these different asset classes under one roof. After researching for more than a year in 2016, they started building something of their own based on-ground experience and business problems.

    SimplyGuest provided with all the practical use-case, which started taking the shape of features, ultimately turning into a full-fledged property management software. But till 2020, they were the only user of the tech they had built. It changed everything when a landlord asked if he could use what they have built to manage his space.

    This was their eureka moment. This pushed Mayank & Subbu to explore and study the gaps in the property management software domain across different markets. They did 6 months of research and found out that the technology they had been developing solves a much larger use case and can be used by property management companies and coliving operators across different geographies.

    They then kept on developing what took the shape of JumboTiger with the 16th Feb 2021 beta launch, where 220 people attended it from 30 different countries. They launched beta with 7 people from different geographies to build a geography agnostic configurable product. JumboTiger has more than 50 people on its early access waitlist waiting to use the product, which is launching for the public on 1st Sept 2021. It’s a real-time, collaborative, configurable, new-age property management software that brings multiple features from different apps and software into one platform and contextualizes it for property management of the future.

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    JumboTiger – Founders and Team

    Mayank Pokharna and Subbu Athikunte are the founders of JumboTiger.

    JumboTiger & SimplyGuest Founders and Team

    Mayank was the 5th customer of SimplyGuest in 2015 and started helping out Subbu in sales and marketing. This lasted for about two years till 2017 when Mayank joined SimplyGuest full-time as a co-founder. Both of them scaled SimplyGuest to about 500 tenants and a $1mn in gross revenues. The same team founded JumboTiger. They hired few interns at the start, and one of them is now the full-time employee taking care of all things development with Subbu. The team is building JumboTiger on erlang and Elixir, and hence finding initial resources was a challenge.

    Mayank Pokharna | Co-founder, JumboTiger & SimplyGuest

    Mayank, 31, did his engineering, followed by an MBA from Nirma, Ahmedabad. He worked with high-growth startups such as Practo and Cuemath before joining SimplyGuest full-time. He single-handedly maintained occupancy of 98% at SimplyGuest and take care of sales, marketing, brand, and everything business at JumboTiger

    Subbu Athikunte | Co-founder, JumboTiger & SimplyGuest

    Subbu, 43, is a software engineer. He worked on distributed systems, databases, analytics, and UI at Apigee. He designed some key analytics infrastructure. Google acquired Apigee. He has more than 20 years of experience in tech and takes care of all things product and engineering at JumboTiger.

    Ritvik | Software Developer,JumboTiger

    Ritvik, 23, started as a JavaScript programmer with JumboTiger as an intern while still in college. Now his hands run deep across the product stack and take care of all the developmental work.

    How JumboTiger Works?

    Anyone with a residential rental portfolio can come to the jumbotiger.com website, sign up and create an account. You will be redirected to set up your account and configure it to suit your business operations. The software comes with sensible defaults, and you can select the country to load all defaults and then change it as per your requirements.

    Jumbo PMS financial

    Some of the functionalities in the JumboTiger property management system are –

    Marketing/ Sales

    • Generate SEO friendly marketing websites based on the PMS (property management software) data
    • A powerful self-scheduling tool that syncs your leasing agent’s calendar with incoming requests for showing/viewings.
    • The completely white-labeled solution to enhance your end-user experience.

    Tenant/ Community Management

    • Take tenant applications, onboard tenants, and manage documentation and agreements.
    • Tenant portal for payments, expense tracking (tenants) issue management, remote move-ins & move-outs, profile, and documents management.
    • Host and manage community events using the tenant portal. Book facilities, talk to other residents, download invoices, and raise issues.

    Operations (Inventory, Maintenance, Inspections, Work Order, & Control Centre, Communications)

    • Onboard large properties within minutes with an onboarding wizard.
    • Manage all your operations, communications, and issue/ ticket management from a slack like-interface called the control room. This is a single screen that lets you manage your complete business once the PMS is set up.
    • Set a standard for performance using SLAs, escalation policies
    • A rule engine to automate your incoming maintenance/resident requests. (JumboTiger Property Management: SLA management)
    • Schedule preventive maintenance tasks and JumboTiger will track these for you. Automate the property management workflows according to your business needs.
    • Real-time staff management and move-ins, move-outs, periodic inspections via a staff app. You can also push tasks to on-field staff in real-time using this app.
    • Contact the center to manage the PO’s and vendor services
    • Ready to go IOT integrations

    Rent Payments/ Reports/ Analytics

    • Flexible invoicing, expense management, and payments system customized for each country and to your needs.
    • Revenue recovery/ dunning to make sure you don’t lose on any invoice and take appropriate actions
    • Detailed reports/ Analytics on what’s happening in your organization.
    • Very detailed audit logs to make sure you have visibility of what’s going on in your organization.

    These are some things that JumboTiger property management software does. When you start using it, you will explore many more use cases. This can help you run a property management business on a single platform without the need for any other software.

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    JumboTiger – Business Model and Revenue Model

    JumboTiger is a SaaS business that works on a subscription model. The use of software starts at $99 to manage up to 20 units and then is charged on a per-unit basis managed on the platform. There is no feature gating, and all features are available to everyone. The rationale behind it is to enable small and medium businesses and set them up for sustainable scale.

    JumboTiger is ideal for all-size property management companies, coliving operators, HMOs, letting agents, and anyone managing a rental portfolio and wants to build, manage and grow their rental business.

    The SaaS model is pretty standard and has existed for a couple of decades but has been popularized and adopted in the last few years with the availability of better infrastructure and cloud capabilities.

    The gross margin for a SaaS business is generally more than 70%-80%, and the customers are charged subscriptions on a monthly, quarterly, or yearly basis.

    JumboTiger – Funding

    JumboTiger is a bootstrapped startup, and the only source of funds for it is its customers.

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    JumboTiger – Future Plans

    JumboTiger is in this for the long term. It will replace all the traditional property management software and help property management companies and coliving operators build a sustainable and scalable business. The team plans to keep expanding the horizon and scope of property management software with JumboTiger. The next few interesting features that will get added to JumboTiger after its public launch are seamless IoT integrations, Self Serving billing for tenants, and a lot more. So stay tuned to keep getting surprised.

    Lastly, JumboTiger wants to remain close to its customers and solve actual problems rather than building features that no one uses. So the team plans to keep listening to its customers and solve their problems via JumboTiger.

    JumboTiger – FAQs

    What is JumboTiger?

    It’s a real-time, collaborative, configurable, new-age property management software that brings multiple features from different apps and software into one platform and contextualizes it for property management of the future.

    Who founded JumboTiger?

    Mayank Pokharna and Subbu Athikunte are the founders of JumboTiger.

    When will JumboTiger go live for public use?

    JumboTiger will go live for public use on 1st Sept 2021.

    Do visit https://jumbotiger.com/ to know more about the company and sign up for early access!

    Is JumboTiger Bootstrapped startup?

    Yes, JumboTiger is a bootstrapped startup.

    How does JumboTiger make money?

    JumboTiger is a SaaS business that works on a subscription model. The use of software starts at $99 to manage up to 20 units and then is charged on a per-unit basis managed on the platform. There is no feature gating, and all features are available to everyone. The rationale behind it is to enable small and medium businesses and set them up for sustainable scale.

    What is SimplyGuest?

    Mayank & Subbu started SimplyGuest as a shared living business in 2015 with a wide variety of portfolio properties: student housing, housing societies & more. SimplyGuest started with the idea of aggregating shared living spaces. The same team co-founded JumboTiger.

  • Gingercup – A Cup That Serves A Purpose

    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 GingerCup.

    Tea is India’s most favourite beverage and tea breaks are something that everyone enjoys. We rewind, relax, chat and discuss over a cup of tea. Bengaluru based paper cup startup, known as Gingercup is trying to make the best out of tea breaks, by reaching out to potential customers at tea time through their branded and beautiful paper cup.

    Gingercup – Highlights

    Startup Name GingerCup
    Headquarter Bangalore
    Founders Deepak Bansal & Devleena Neogi
    Sector Advertising/Marketing
    Founded 2015
    Services Paper cup advertising

    Gingercup – Vision and Mission
    Gingercup – Industry Details
    Gingercup – The Idea
    Gingercup – Name, Tagline, and Logo
    Gingercup – Product
    Gingercup – Funding
    Gingercup – Business Model
    Gingercup – Customer Acquisition
    Gingercup – Challenges
    Gingercup – Achievements
    Gingercup – Founders
    Gingercup – Work Culture
    Gingercup – Competitors
    Gingercup – Future Plans
    Gingercup – Tools/Software Used
    Gingercup – Advisors and Mentors
    Gingercup – Founder’s Advice
    Gingercup – Founder’s Productivity Hacks
    Gingercup – FAQ

    We interviewed the founders Devleena Neogi to know more about this unique marketing idea.

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    Gingercup – Vision and Mission

    GingerCup is a paper cup startup that thrives to provide the most innovative and effective marketing solutions, to its clients in creating a strong emotional connection with their customers. Ginger Cup is also known as the Ginger media group, has a long term goal is to be a media company that is the best and the default choice for branding across various verticals and to convert every white paper cup into a coloured cup branding.

    Gingercup – Industry Details

    The offline marketing industry is rapidly growing with the evolution of new media in OOH space. Consumers spend more than 70% of their working hours outside their homes. 60% of them are dedicated to regular consumer tasks such as commuting to work, working in the office, socializing, and drinking and eating outside their home or in the workplace.

    Also, since India is a tea-drinking nation, people from the age group of 18 to 80, from tier 1 city to villages, everybody loves tea. A typical Indian starts their day with tea and consumes at least 2 to 3 cups throughout the day. And that is where all the hot topics of the day get discussed.

    The ability to engage with consumers in their tea break makes paper cup marketing a powerful standalone medium and this is how the Ginger cups marketing strategy complements with other media. When an emotional moment combines with a discussion topic over tea, it exceeds the reach of word of mouth, amplifies the campaign and drives consumers to engage with brands online and in-store.

    Gingercup – The Idea

    GingerCup founders is Deepak Bansal and Devleena Neogi  said –

    Deepak came up with this innovative idea and discussed it with me one day. I could completely visualize the impact of paper cups as a media for branding at that very moment. The beauty of the idea was its simplicity. That was my AHA moment.  I loved it, but I had mixed emotions. I was very excited to execute the idea but at the same time a bit hesitant because of my stability in profession. Back in our mind, we were thinking – Why no one has tried this so far? Is it really going to be impactful? Whether the market will accept it or not?

    Every idea has its pros and cons. When we say simplicity is best at the same time it’s a threat in terms of business perspective. After hours of research, observation and executing a pilot campaign, they realized that it really was a breakthrough paper cup advertising concept.

    They both then decided to dedicate their full time to Ginger Cup. Also, the families and friends encouraged and supported us in every way. And that’s how GingerCup was started.

    different channels to advertise a start-up digitally
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    StartupTalkyAshwini

    GingerCup logo and name comes from India’s favourite, “adrak wali chai” or ginger tea.

    ‘adrak wali chai’ holds a special place in the hearts of every individual. That’s where the name of our company, GingerCup, came from. Just like ginger gives flavor to the tea, our cup branding concept enhances the look of plain-white boring paper tea cups by displaying marketing messages.

    The tagline of the Ginger Cup reads-“‘cup that serves a purpose”. It serves a dual purpose, as it can be used to serve any beverage such as tea, coffee or water and for advertising purposes.

    The paper cup startup has a beautifully designed and meaningful logo.

    Gingercup Logo
    Gingercup Logo

    The letter ‘G’ denotes a piping hot paper cup reaching out with an arrow to a brand’s target audience.

    Gingercup – Product

    Ginger media group is a creative advertising agency that specializes in paper cup advertising. The paper cup business helps brands engage and interact with their target audience by printing marketing messages on paper tea cups. It helps brands reach out to their target group during tea breaks at offices and colleges.

    Unlike other advertising mediums, our paper cups advertisement provide an exposure time of 5-7 minutes in a clutter-free environment. Every cup branding campaign is planned keeping a client’s target audience in mind. For example Professionals in Tech parks, Corporate Companies, HNIs in Airlines, Trains, Colleges, Hospitals or Fitness centers, shopping malls etc.

    Gingercup Marketing
    Gingercup Marketing

    Gingercup – Business Model

    GingerCup business model is based on outsourcing paper tea cups from third-party vendors and prints advertising messages on them. The uniqueness of cup branding is the biggest USP of the company. Today, brands are constantly on the lookout for innovative ways and techniques to reach out to their target group and get them to take a call to action. This paper cup startup helps brands realize this dream.

    We strongly believe that our product is different in the market because it is a personal, dynamic and cost-effective marketing medium. We want our client’s message to reach as many people as possible. Thus, we have created a large inventory base through our tie-ups.

    Paper cup advertisement with Gingercup, allows brands to get access to 1400+ corporate companies that include MNC, SME, Startups, Co-working spaces, Food Courts of tech parks, 1500+ colleges, 60+ Hospitals, Shopping Malls, 7 Airlines (International and Domestic) and 75+ Premium trains (Rajdhani, Shatabdi, Duronto) across India.

    Gingercup – Funding

    When its comes to Gingercup funding, the company gets its funds through seed funding and angel investors. The two major Gingercup investors are

    • Sanket Gupta, Programme Lead, Google USA.
    • Rahul Shah, Technical Lead, Microsoft.

    Gingercup – Customer Acquisition

    Initially, Ginger Cup acquired clients through general sales and marketing techniques. Cold emailing worked great for them. After a couple of pilot campaigns, people began to notice and contact them.

    That’s when they truly started getting recognition for their work. From facility managers to leading brands, everyone was interested in understanding the advertising concept and ginger cup business model.

    Word of mouth has really helped us become who we are today – Devleena

    GingerCup counts Hotstar, Uber, Volkswagen, Huawei, NH Hospitals, Bookmyshow, Exide Life Insurance, Clovia, ISL – Delhi Dynamos, bahubali and Jet Airways as their clients.

    Gingercup – Challenges

    There are two major challenges faced by GingerCup at the beginning was getting the right manpower and building an inventory base.

    Firstly, hiring the right set of people was a big hurdle. However, to our luck, we were soon able to overcome it. Thanks to networking and references, we soon had the right talent joining our team.

    Secondly, building an inventory base was not a breeze either. Based on a campaigns demand, we were required to build consumer networks in new domains. Soon, we tied up with consumers in various locations and set up a large inventory base. Ginger media group is now operational in PAN India.

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    Gingercup – Achievements

    Within a short period of time, Gingercup has started offering services Pan-India, in cities such as Bangalore, Delhi, Noida, Pune, Gurgaon, Mumbai, Kolkata, and many more. The paper cup startup is also planning to expand abroad.

    Gingercup – Founders

    Deepak Bansal and Devleena Neogi are a couple entrepreneurs and teh Ginger Cup founders.

    Deepak  Bansal was working in the IT sector. He also worked as ‘Tech Lead’ in Samsung Research Institute, Bangalore.

    Devleena Neogi was an HR professional with exposure in business development for 6 years at different organizations like Wipro Technologies, iGatePatni and Magna Infotech Pvt Ltd.

    Gingercup – Work Culture

    We encourage an open door policy and believe every person should have a voice. We bridge the gap between leaders and employees by fostering open and honest communication. Our culture fosters diverse communities to create a large impact. Every employee in our organization works together to enhance the value we provide to customers.

    Team Gingercup
    Team GingerCup

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    Gingercup – Competitors

    There is no direct competition to GingerCup. But some of the GingerCup Competitors are Cupshup, Google and Facebook.

    We look at Google and Facebook as our competitors. Today, digital marketing and social media marketing have created a firm place for itself. We consider ourselves still in the nascent stage of experimental marketing. – Devleena

    Gingercup – Future Plans

    To sustain the attention of various target groups, GingerCup is looking to add a burst of innovation to their paper cups.

    Paper cup advertising and innovation are synonymous We are already working on an AR-enabled paper cups that will offer brands enhanced awareness, visibility, and engagement.  Ginger cups aim is to make paper cup business a potent marketing tool rather than just limiting it to a beverage container.

    Gingercup – Tools/Software Used

    The tools that GingerCup uses are

    • Google suite
    • HubSpot
    • Email Verifier Tool  
    • Sales Navigator

    Gingercup – Advisors and Mentors

    Mr. Rahul Shah and Mr. Sanket Gupta who happens to be the GingerCup investors and also is the mentor of the startup.

    Gingercup – Founder’s Advice

    Start fast, move fast and fail fast.

    I would like to tell my fellow entrepreneurs and readers not to rush immediately into fundraising. Rather create a real profitable business, solve real problems, and provide real products and services to real customers.

    Also, stay away from mental pollution. Maintain a good work-life balance by taking care of physical health and well being. Prioritize eating well and exercise. Only when the mind, body, and spirit are energized you will be able to get the taste of success.

    Being an entrepreneur, it’s sometimes a lonely journey. Besides, look at the brighter side. You get to do what you want and you get to do it your own way.

    Gingercup – Founder’s Productivity Hacks

    GingerCup founder Devleena Neogi shared some of her productivity hacks with us. Starting up a paper cup startup is definitely not easy. But it’s very important to keep yourself productive and organized always. The biggest productivity hack for Devleena is to strike a fine balance between his work and personal life.

    I give a lot of emphasis to self-care. Only when your mind is clutter-free can the creative juices flow. I also lead a systematic and disciplined lifestyle. My morning starts with yoga and meditation. Staying in sync with nature keeps me refreshed and helps me take on every new day with enthusiasm and confidence.

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    Gingercup – FAQ

    Who is the founder of Gingercup?

    Deepak Bansal and Devleena Neogi are the founders of Ginger cup.

    What is the business model of Gingercup?

    GingerCup outsources paper cups from third-party vendors and print advertising messages on them.

    When was the Gingercup founded?

    Gingercup was founded in 2015.

    Who are the Ginger Cup competitors?

    The Gingercup competitors are cupshup, Google and Facebook.

    What are the tools Ginger cup uses?

    The tools that GingerCup uses are

    • Google suite
    • HubSpot
    • Email Verifier Tool  
    • Sales Navigator

  • Appriffy – Hire Indian Remote Developers On-Hourly & On-Demand Basis

    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 Appriffy.

    Our lives have become technology-oriented. Every day we use the latest technological gadgets, devices, or platforms to get many tasks done. While we are still glued to our smartphones, Alexa is also fast becoming a part of our lives. Our watches are becoming smart and our home appliances are becoming IoT enabled. Yet another technology that we use in our daily lives is applications or apps which we use for many purposes, from learning to shopping, entertainment, and much more. In this technology-led world, it has become indispensable for every business established or new, to be technologically updated. Again, having a technical team is not feasible for every business.

    But, now it is possible to make the best of technical experts work for your business, without spending a fortune. Appriffy is the digital Hub where you can hire candidates on an hourly basis and on-demand basis. Appriffy lets you hire software developers, web developers, PHP developers on an hourly and project basis.

    Read to know more about the success story of Appriffy, How Appriffy Started, its business model, founders & team, funding, growth, future plans & more.

    Appriffy – Company Highlights

    Startup Name Appriffy – Digital IT Hub
    Headquarter Bangalore, India
    Industry IT
    Founder & CEO Muzafar Hussain
    Founded 2015
    Parent Organization Appriffy – Digital IT Hub Pvt. Ltd.
    Website appriffy.com

    About & How Appriffy Works?
    Developer Industry Details
    Founders & Team of Appriffy
    How was Appriffy Started?
    Business & Revenue Model of Appriffy
    User Acquisition of Appriffy
    Startup Challenges at Appriffy
    Funding & Investors of Appriffy
    Achievements of Appriffy
    Future Plans of Appriffy
    Appriffy – FAQ’s

    About & How Appriffy Works?

    Appriffy-Digital IT Hub is a digital marketplace where one can hire developers ‘On-Hourly and On-Demand Basis‘. Appriffy team helps individuals, startups, and enterprises to build their world-class Tech products. It starts from One hour to Unlimited time. As you shop for clothes and other necessary stuff online, now you can shop developers under the Appriffy umbrella.

    The name ‘Appriffy’ denotes something related to ‘app’ (application) which is the core service Appriffy provides.

    Appriffy basically offers products under two categories- Appriffy Marketplace and Appriffy Labs. In the year, 2019 Mr. Muzafar Hussain moved forward with his partners to launch his much-awaited product called Appriffy Labs, which he explains as India’s Fastest Growing Startup Studio, a Concept Of Part-Cash and Part-Equity Format, Appriffy Labs help in early-stage startup and mid-stage companies with their creative strategy, process, and culture. They work with selected startup founders in Part-Cash and Part-Equity format to help entrepreneurs in terms of technical, office space, legal and financial support, and access to funding through its tied-up Angels, Seed, and Venture Capitalists. Basically, Appriffy is a Startup that is helping in building other startups.

    Appriffy Logo

    Appriffy has a very simple vision to add value to other people and their products. With this vision, Appriffy is adding value with innovative products like Developers on-Hourly and On-Demand Basis. Appriffy talent pool consists of Graphic Designers, UI/UX Designer & Developers, Android Developer, iOS Developers, PHP Developers, .NET Developers, Chatbot Developers, Python Developers, React Native Developers, React JS Developers, Angular JS Developers, Node JS Developers, Game Developers, AI Developers, ML Developers, Blockchain Developers, Web Developers, ERP Developers, IOT Developers, and JavaScript Developers.

    The team at Appriffy has enough exposure to startups and corporates. They have been regularly engaging with clients from India and abroad. After all these years of experience, they all believe in adding value to other people’s lives by using their expertise. This belief makes them work with dedication to realize their vision.

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    Developer Industry Details

    The mobile industry has been growing unprecedentedly. Consequently, the mobile development industry has boomed. The revenue generated by the global mobile apps in the market has skyrocketed and is only to grow in the future.

    Again there is a huge demand for developers in India. In its report ‘Workforce Report for India’, Microsoft owned LinkedIn, confirming that job postings for software engineers were the highest across multiple industries in the first six months of 2018 on its platform.

    Appriffy is an IT bases start-up that is doing well. By looking at the growth of Appriffy in the last couple of years then we can confidently say that Appriffy will be a big hit in the next 5 years and it will be a big brand name – says Appriffy’s founder Muzafar Hussain.

    Founders & Team of Appriffy

    Muzafar Hussain – Founder of Appriffy

    Muzafar Hussain, Founder & CEO of Appriffy
    Muzafar Hussain, Founder & CEO of Appriffy

    Muzafar Hussain is the Founder of Appriffy. He started his journey from a small town named Berhampur in Odisha. Things did not come easy for Muzafar. He went to Hyderabad to pursue Graduation, however, even after doing part-time jobs, he could not manage both his studies and his stay in Hyderabad, which made Muzafar move to Visakhapatnam, as the cost of living and education here was affordable as compared to Hyderabad.

    Muzafar graduated in Electronics and Communication Engineering from Visakha Institute of Engineering and Technology, Visakhapatnam. In his final academic year, Muzafar launched Appriffy. However, after working for a couple of years on Appriffy, he found that things are not working as expected. This made him move to Bangalore for finding a job. But his dream to start Appriffy was too strong, and he left his job after 6 months to start working on Appriffy all over again and has not looked back since then.

    Work Culture of Appriffy

    Appriffy has an employee-friendly atmosphere. They have an open work culture and are flexible with employees’ needs. They treat everyone equally and believe in the output instead of the traditional way of work.

    Appriffy Team
    Appriffy Team and Office

    How was Appriffy Started?

    Muzafar had the urge to do something for his country especially for solving the unemployment problem. He wanted to become an employment generator instead of an employment seeker, and this is what motivated him to start Appriffy. Today, Appriffy is not only generating employment but also saving clients money and time, delivering quality products, and helping startups realize their full potential.

    “I worked really hard on building contacts and collaborations. I worked consistently for long hours and created the core Appriffy Team. Once the core team was created we all worked towards the client-side” – Appriffy founder Muzafar Hussain, said explaining the initial stage of the company.

    Business & Revenue Model of Appriffy

    Appriffy is currently running in a profitable state and the revenue comes in the form of subscriptions, profit margin, commissions, and equity in the startup companies with which Appriffy engages.

    As regards the business model, Appriffy as stated above is engaged in two business models. Under the first business model, through ‘Appriffy Market Place’, Appriffy lets businesses hire developers on-demand and on an hourly basis. Again under the second business model, ‘Appriffy Labs’, offers support to selected startups in terms of technical support, office space, legal and financial support, and access to funding. Appriffy Labs work in a Part-Cash and Part-Equity Format.

    Appriffy pivoted with few funded Startups from India, Israel, and other countries in both the format of business model and its work with them. They have pivoted in 2017 with their first client from Israel, and are now looking out to test out the two business models regarding the feedback, changes in the product, etc. so that they can look out for the analysis part of their two current running business models.

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    User Acquisition of Appriffy

    In order to get their initial 100 customers, Appriffy used regular marketing strategies and worked on building trust among their clients, forging longevity.

    “At the core, Appriffy believes in adding values to people’s lives and we have always tried our best to stand by our words. This besides other conventional marketing strategies has helped us build an initial customer network.”

    Startup Challenges at Appriffy

    Due to Appriffy’s unique model based on renting software developers on-Hourly and on-Demand basis, they found it difficult to get customers initially; as businesses are addicted to going for the traditional hiring process.

    In their second business model which is the part-cash and part-equity model gives the flexibility to founders of the startup to save money during their initial struggle. However, in this concept Founders are required to give some equity to Appriffy so they hesitate during initial meetings, which is a tough situation to overcome. But with their services, Appriffy has successfully built a loyal and happy customer base.

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    Funding & Investors of Appriffy

    In November 2018, Appriffy raised an undisclosed amount of pre-seed funding from Mr. Abdulla Aldarmaki.

    Date Stage Amount Investor
    24-11-2018 Angel/Pre-Seed Undisclosed Mr.Abdulla Aldarmaki

    A UAE national, Mr. Abdulla Aldarmaki was the first investor of Appriffy and took an exit in July 2021 along with Santosh S.N (Co-founder & CTO) and Apurva Gupta (Co-founder & CEO).

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    Achievements of Appriffy

    • Selected by Govt. Of India and IIM Calcutta Innovation Park Under Smart Fifty Solutions for India.
    • Recognized by Govt. Of India and Department of Industrial Policy and Promotion.
    • Recognized by Govt. Of Karnataka as one of the Innovative Technical Service Provider.
    • Selected as One of the Smart 75 Tech Products Developers which is Organized by Govt. Of India and Goa and in collaboration with Govt. Of Armenia.

    Future Plans of Appriffy

    Appriffy is having its headquarters in Bangalore, the Silicon Valley of India. Appriffy currently has more than 1000 users and is working towards growing the same. Appriffy is also planning to acquire and merge with one startup into Data Analytics Domain.

    Appriffy is letting businesses hire remote developers and technical staff on an hourly and project basis, based on one’s requirement thus avoiding huge expenses. Appriffy- Digital IT hub is a talent pool of efficient and effective developers who will help your business stay technically sound. Are you an organization or a startup looking for developers to hire? Appriffy provides the platform where you can hire professional developers and technical staff. Use this platform for your business or company and do let us know your experience.

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    FAQ’s

    What is Appriffy?

    Appriffy-Digital IT Hub is a digital marketplace where one can hire developers ‘On-Hourly and On-Demand Basis’.

    What services does Appriffy provide?

    Appriffy team helps individuals, startups, and enterprises to build their world-class Tech products. It starts from One hour to Unlimited time. As you shop for clothes and other necessary stuff online, now you can shop developers under the Appriffy umbrella.

    Who is the founder of Appriffy?

    Mr. Muzafar Hussain is the founder of Appriffy.

    Who is the CEO of Appriffy?

    Mr. Muzafar Hussain is the current CEO of Appriffy.

    What is Appriffy Business Model?

    Appriffy is currently running in a profitable state and the revenue comes in the form of subscriptions, profit margin, commissions, and equity in the startup companies with which Appriffy engages.

  • De Space Interior Design- For Opulent Design and Decor Solutions

    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 De Space Interior Design.

    Great home decor and furnishings is now a style statement. And with modular designs entering the scene, comfort and classy are now going hand in hand. To create some top-notch home decor and designs, Dev Vig and Akshata Menon Vig founded their startup De Space interiors Bangalore in 2010.

    De Space interiors offer highly customized turnkey residential interiors solutions to end-users.

    As per the founders – “De Space interiors is an attempt to organize a highly disorganized residential interiors market.

    De space wants to be known as an initiative that focuses heavily on client satisfaction, space planning, and high-quality execution. This has been their vision since day zero and all our expansion plans revolve around these three parameters. Since De Space interior design is headquartered in Bengaluru, they only cater to the Bangalore market currently but are working on plans to enter other cities shortly.

    De Space – Company Highlights

    Startup Name De Space
    Headquarter Bengaluru, Karnataka
    Founder Dev Vig & Akshata Menon Vig
    Sector Interior Designing
    Founded 2010
    Parent Organization De Space

    De Space – About & How It Works
    De Space – Target Market
    De Space – Founders & Team
    De Space – How It All Started?
    De Space – Name, Tagline & Logo
    De Space – User Acquisition
    De Space – Business Model & Revenue Model
    De Space – Startup Challenges
    De Space – Competitors
    De Space – Future Plans
    De Space – FAQ’s

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    De Space – About & How It Works

    De Space offers a turnkey interior designing solution to resident owners. There is a lot of focus on space planning, something that is a challenge for the majority of homeowners. The De Space interior design was based on treating every home as unique and never offer standard designs at all.

    The space interior designs are prepared after a thorough understanding of the space available, as well as understanding the client’s requirements at length. Apart from this, there is a strong focus on client experience. D Space interiors have invested a lot in building a strong team at the backend, comprising of skilled labourers, contractors, carpenters, supervisors, that help the founder duo in delivering quality service to their clients.

    De Space – Target Market

    According to Economic Times, Bangalore witnessed a sale of 34546 residential units in 2017 and the launch of 22410 units in the same year. This boils down to roughly 2900 units sold every month. Considering 10% of buyers want their interiors to be executed by a professional firm as per their taste and requirements, the market size is approx. 3500 units per annum.

    This is the pie De Space interior is eyeing. While the industry is currently under consolidation, the founders believe the introduction of RERA will attract serious buyers who are looking forward to buying residential units for their own stay purpose. The space interior design industry outlook in the coming five years looks effectively positive.

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    De Space – Founders & Team

    De Space is founded by a husband-wife duo Dev Vig and Akshata Menon Vig. While Akshata takes care of the designing part, Dev handles processes like sales, marketing, and operations.

    Dev Vig and Akshata Vig | Founders, De Space Designs

    Akshata Vig (Founder) – An architect by profession, leads the design process at De Space. She has an overall experience of more than 16 years and has a strong eye for details and interior designs. This has particularly helped De Space interior design as it was highly customized interior solutions for its clients. Before starting De Space, she has worked in firms like DWP Intetics and Space Matrix.

    Dev Vig (Founder) –  With a dazzling MBA degree Dev is an engineer by profession. He has spent more than 15 years in dynamic areas of sales, marketing, and consumer insights. His ability to understand the consumer psyche has helped in getting highly relevant projects and also a highly satisfied clientele. Before starting De Space, he has worked in firms like Bharti Telesoft, Rediff.com, AOL, BabyBerry as a cofounder.

    De Space Interiors holds a giant team of 70 members. A strong backend team of contractors, carpenters, painters, and electricians for the clients so that they can be relieved of the stress of finding some good ones on their own. It is now one of the top space interiors India.

    De Space – How It All Started?

    De Space story started when the founders completed their home interiors. It so happened that people praised their designs and that’s when they realized it has a huge potential. On doing some further research, they understood the Bangalore interior design market is highly unorganized with local contractors ruling it and consumers who are unaware of the details often end up spending money on what they were not even aware of.

    As a result, they spoke to a lot of homeowners and figured that the consumers faced issues such as non-transparency, delays, unskilled labour and would love to hire someone who would give them a turnkey solution without them being involved in the operational aspects. This indicated a clear gap in the interior designing market in terms of professionalism and the duo decided to do their bit in filling up this gap.

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    De Space Designs Logo

    The name “De Space” means “Of space”. Since the whole focus of the organization is on space interiors planning and effective utilization of the space available, the founder duo felt this is an appropriate title for the company.

    De Space – User Acquisition

    When De Space interiors Bangalore, got its first project the co-founders never had a concrete plan for reaching the 100th client. “It was an idea that we had tried and decided to stay open for learning and ensure we make necessary changes with every project that we execute. This approach of ours enabled us to climb the ladder slowly and build on our clientele” Says the founder duo.

    The company doesn’t advertise its interior offerings. They believe that their clients are the strongest assets and brand evangelists. Also with their core focus being on client satisfaction and transparency, it has helped them to create a strong word of mouth, which has resulted in a substantial increase in their clientele. In the year 2018-19, Despace has done five new projects that came from the existing clients which are surely a testament to the kind of service that de-space offers.

    De Space – Business Model & Revenue Model

    De Space interior works on only design and turnkey modes. Design only costs are calculated as per the number of man-hours that they need to dedicate to designing the interiors. The turnkey model covers the labour, material and designing of the project and is charged accordingly with due considerations to the margins.

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    De Space – Startup Challenges

    It’s a known fact that any organization cannot be huge with the sole efforts of its founding team. It requires an extremely strong team of people who believe in the vision of the founders and walk on the same path as theirs. Like any other company,  De Space interior designs also faced the challenge of having the right set of people supporting them.

    The founders also noticed a gap in the high-quality interiors market which was finding skilled labour in the industry. They spent a lot of time finding the right resources and getting people on board in order to ensure client satisfaction.

    Hence, in the early years of inception, they decided not to grow exponentially and rather focused on creating a team that would help the founders to scale while not diluting the principles of high-quality space interiors services.

    While it might have made our journey slower, it helped us to ensure we built a strong foundation, and it’s that foundation today, that has helped us to reach where we are today. We strongly feel one is known for the quality of work she has done, not the quantity of work – said the founders proudly.

    With residential units size reducing regularly, the real challenge lies in doing justice to the space available, something that d space interiors intend to capitalize on.

    De Space – Competitors

    There are quite a few major competitors in the market who have spread out their operations pan India eventually. The company does not compete with the providers that give the customers standard factory-made products as part of their interior solutions. The De Space competitors are FHD Group India, Dreamspace India, Asense Interiors.

    De Space – Future Plans

    De Space was founded in 2005 which is a full service and Interior Architecture studio. De Space Designs are change-makers who are committed to connecting Visions, Ideas, Culture and People, to improve the world we live in, and the quality of life for all, through a sustainable, human and earth-centred approach to design. They aspire to create sensory journeys that inform, inspire, comfort and heal humanity in every project they take.

    De Space interiors Bangalore completed its 400th project in 2019, and the team has been scaling up to accommodate upcoming projects. The founders are positive about the future and are confident that their high-quality, innovative solutions will help them to become a strong player in the market for the long term. They currently only cater to the Bangalore market and is planning to expand to other cities further on.

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    De Space – FAQ’s

    What is De Space Interior Designs?

    De Space offers a turnkey interior designing solution to resident owners. There is a lot of focus on space planning, something that is a challenge for the majority of homeowners.

    Who is the Founder of De Space?

    De Space is founded by a husband-wife duo Dev Vig and Akshata Menon Vig. While Akshata takes care of the designing part, Dev handles processes like sales, marketing, and operations.

    Where is De Space interior design Located?

    De Space Design is located in Bangalore, India.

    Who are the competitors of De Space Design?

    There are quite a few major competitors in the market who have spread out their operations pan India eventually. FHD Group India, Dreamspace India, Asense Interiors can pose major competition to De Space.

  • Infosys – Powering Digital Dreams

    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 Infosys.

    Digital technology is transforming services and businesses in today’s world. It is fundamentally changing operations and delivering value to consumers. It is also a cultural modification that wants organisations to experiment with various things and get comfortable with downfalls.

    Infosys is an information technology consulting company. It is an Indian multinational company that provides information technology, business consulting, and outsourcing assistance. It considers itself to be a global leader in next-gen digital consulting. It is the 2nd largest IT company after TCS (Tata Consultancy Services). It is also the 596th biggest company in the entire world based on the terms of revenue.

    If the above stats have already grabbed your interest, then you can dive into the full Infosys success story below, which contains the Infosys company profile, and has all the details regarding the Infosys owner, Infosys CEO name, everything about “how Infosys make money?“, its Founders and Team, Funding, Growth, Competitors of Infosys, and all about Infosys company.

    Infosys – Company Highlights

    Company Name Infosys
    Headquarters Bangalore, Karnataka, India
    Sector IT, Software, Consulting, Outsourcing
    Founders N.R. Narayana Murthy, Nandan Nilekani, S.D. Shibulal, Kris Gopalakrishnan, Ashok Arora, N.S. Raghavan and K. Dinesh
    Founded 1981
    Website infosys.com

    Infosys – About
    Infosys – Startup Story
    Infosys – Founders And Team
    Infosys – Tagline, Slogan And Logo
    Infosys – Business Model
    Infosys – Revenue Model
    Infosys – Funding And Investors
    Infosys – Growth
    Infosys – Challenges
    Infosys – Competitors
    Infosys – Future Plans

    Infosys – About

    Infosys is hailed as an Indian multinational information technology company that offers information technology, business consulting, and outsourcing services. Originally founded in Pune, Infosys is currently headquartered in Bengaluru.

    It is provider of next-gen services. The company enables clients in more than 50+ countries to stay ahead of the innovation curve and outperform in the game. It has more than 187,000 employees working within it.  

    Infosys – Startup Story

    The Infosys startup story came into existence in 1981. It was founded by the former employees of Patni Computer Systems. 7 people who were enthusiastic about writing codes and wanted to make it big in the American market – N.R. Narayana Murthy, Nandan Nilekani, S.D. Shibulal, Kris Gopalakrishnan, Ashok Arora, N.S. Raghavan and K. Dinesh started the company with a meagre amount of INR 10,000 and named it Infosys Consultants. Mrs. Sudha Murthy gave this amount to her husband, Mr Narayana Murthy. The company began with a small office room. It was the front room of Murthy’s home and the registered office was Raghavan’s home. The company didn’t have any computer till 1983 because they couldn’t afford it. It took them two years to buy a computer on their own and the model was Data General 32-bit MV8000.

    Infosys – Founders And Team

    N.R. Narayana Murthy, Nandan Nilekani, S.D. Shibulal, Kris Gopalakrishnan, Ashok Arora, N.S. Raghavan and K. Dinesh are the founders of the company.

    • Narayana Murthy is an Indian billionaire businessman and the co-founder of Infosys.
    • Nandan Nilekani is an Indian entrepreneur. He is the Non-Executive Chairman of Infosys.
    • S.D. Shibulal is an Indian business executive. He is the CEO and Managing Director of Infosys.
    • Kris Gopalakrishnan is the former executive vice-chairman of Infosys. Currently, he is the Chairman of Axilor Ventures.
    • Ashok Arora is also a founder of Infosys.
    • N.S. Raghavan is an Indian industrialist. He is one of the founders of Infosys.
    • K.Dinesh is the co-founder of Infosys. He completed his education from Bangalore University.
    Nandan Nilekani, N.S. Raghavan, Kris Gopalakrishnan, N.R. Narayana Murthy, S.D. Shibulal and K. Dinesh (left to right), Founders, Infosys

    The tagline of the company is ‘Powered by Intellect, Driven by Values‘. This is the base tagline of Infosys. It focuses especially on re-communicating values. The company uses various slogans from time to time in its presentations.

    The Infosys logo –

    Infosys Logo

    Infosys – Business Model

    The Infosys business model is ideal. Previously the company concentrated only on Europe and the US preferring the (GDM) Global Delivery Model. During the 1990s Infosys focused on factors like Banking and Financial Services (BFSI), manufacturing, application development, maintenance, and testing. These all helped Infosys become a pioneer in the IT sector.

    Infosys – Revenue Model

    • Improving Revenue by establishing productivity guidelines.
    • Improving Revenue by improving the process.
    • Improving Revenue by driving more work offshore.
    • Improving Revenue by increasing Reuse
    • Improving Revenue by taking giant leaps from small steps.
    • Improving Revenue by providing quality services.

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    Infosys – Funding And Investors

    Infosys has raised a total amount of $200 million in funding over the 1 funding round.

    Date Transaction Name Money Raised Lead Investor
    July 10, 2008 Post-IPO Equity $200 million Chrys Capital

    Infosys is funded by Chrys Capital.

    It has also made 21 investments.

    Infosys – Growth

    The Infosys growth story can be witnessed since it started trading in India in 1993. This was possible because the business had the ability to increase the per-capita revenues and attract the brightest investments on a go-forward basis.

    Infosys was on unstable grounds when its first joint venture collapsed in 1989. However, the company saw a breakthrough with Data Basics Corp. where Infosys started to work as an onsite software developer for the US market.

    Infosys eventually formed a JV again with KSA (Kurt Salmon Associates), which was nothing other than the completion of a full-circle for Infosys. It partnered with KSA this time to handle marketing in the US. The Narayana Murthy-led company went public in 1993 and was hailed as the first Indian company to list on the Nasdaq stock exchange in 1999. Pioneering the Global Delivery model and preserving and nurturing the entrepreneurial itch are some of the main secrets that lie behind the colossal growth of Infosys.

    Infosys currently serves clients like Visa, Reebok, Cisco Systems, Nordstrom, Boeing, New York Life, Nortel, GE and more. The biggest market for Infosys is US.

    Infosys market capitalisation surpassed the $100 bn (Rs 7 trillion) mark for the first time on August 24, 2021. One of the oldest and the largest software companies in India, Infosys witnessed a surge of 71% of its share values and became the fourth Indian company to record such a feat.

    Infosys – Challenges

    Infosys had witnessed numerous challenges, which started right from the day it was launched, or even before that if we go by the facts. Infosys started with a sum of Rs 10,000 borrowed from Mrs Sudha Murthy, starting from there to the place where Infosys is now was a path full of hurdles. One of the prominent challenges that Infosys witnessed is when its first Joint venture, KSA- Infosys failed in 1989. This was really a point when Infosys was almost on the brink of collapsing down. This led to the resignation of the Ashok Arora, who was absolutely dejected with the way Infosys progressed.

    Mr Gopalkrishna reminiscing the days, said “we had nothing after eight years of trying to bring up a company. Those who studied with us had cars and houses.” With the resignation of Ashok Arora things started to get blurry for the other co-founders as well, but soon Narayana Murthy remarked “if you all want to leave, you can. But I am going to stick (with it) and make it”, which instilled courage in all the other founders of the company.

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    Infosys – Competitors

    The top Infosys competitors are TCS, Wipro and HCL.

    • TCS is one of the biggest competitors of Infosys. It is headquartered in Mumbai, Maharashtra, India. It was founded in 1968. TCS operates in the IT Services industry.
    • Wipro is also one of the top competitors of Infosys. It is a public company headquartered in Bangalore, Karnataka, India. It was founded in 1945. It also operates in the IT services industry.
    • HCL is the top 3rd rival of Infosys. It is headquartered in Noida, Uttar Pradesh, India. The company operates in the IT Services Industry.

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    Infosys – Future Plans

    The company has got plans to hire around 12,000 local US additional workers for various roles by the year 2022. The eye will be especially on experienced technology professionals as well as new graduates from renowned universities and colleges to create a strong platform. This action will be taking place in order to decrease their dependencies on the H-1B visa. This is nothing but a strategy to increase local hiring in the US.

    FAQs

    What is the full form of Infosys?

    The name Infosys is derived from Information Systems.

    Who are the founders of Infosys?

    The Infosys founders are N.R. Narayana Murthy, Nandan Nilekani, S.D. Shibulal, Kris Gopalakrishnan, Ashok Arora, N.S. Raghavan and K. Dinesh.

    What is the Infosys story?

    Infosys is a provider of next-gen digital services with more than 187,000 employees.

  • Crio.Do Want To Disrupt The Way Developers Learn

    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 Crio.Do.

    In the last few years, we have seen India transform and grow beyond the software services spectrum. The rise of so many new startups, and the influx of established tech giants, all trying to solve local and global problems with the help of brilliant product-building minds is extremely encouraging. These tech startups and companies require competent product developers who can think through complex customer problems and build technology to solve them.

    However, existing ways of nurturing talent through video-based learning tools and traditional universities are not really geared for driving product-led innovation. Crio.Do is an experiential learning platform that empowers developers with work-like experiences that aid them in developing real skills and building a demonstrable portfolio.

    Crio.Do – Company Highlights

    Startup Name Crio.Do
    Headquarters Bengaluru, India
    Sector EdTech
    Founders Rathinamurthy R, Sridher J
    Founded 2018
    Website crio.do
    Contact Email ping@criodo.com

    About Crio.Do and How it Works
    Crio.Do – Product/Services
    Founders of Crio.Do and Team
    How was Crio.Do Started?
    Crio.Do – Target Market Size
    Crio.Do – Business Model and Revenue Model
    Crio.Do – Funding and Investors
    Crio.Do – Growth
    Crio.Do – Future Plans
    Crio.Do – FAQs

    About Crio.Do and How it Works

    All About Crio’s Backend Developer Track

    Tech is transforming every industry and quality developers are going to be the driving force behind that change. Crio.Do beliefs developers need & deserve better ways to learn and create a new world.

    That’s precisely what Crio is solving. Crio.Do is an experiential learning platform dedicated to product development skills. It empowers developers with work-like experiences that aid them in developing real skills and building a demonstrable portfolio.

    Crio.Do – Product/Services

    Crio.Do is a unique experiential learning platform, where developers “Learn by Doing” and not just listening/watching videos or lectures and answering questions. The users build real products in a structured fashion through Crio Micro-Experiences whilst learning key software tools, concepts, and frameworks. They learn to handle scenarios faced by engineers working on live products by taking the avatar of an engineer in a real tech company.

    They follow actual development practices applied by leading engineers, start thinking like them, research genuine problems and build authentic products like them. Along with technical skills, the company’s methodology also enables users to develop competencies like “independent problem-solving”, “product sense”, and “willingness to stretch out of one’s comfort zone” through real experiences in the program.

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    Crio.Do offers four direct to developer experiential learning programs:

    • Crio Launch: This free program caters to student developers working on their software engineering skills. The month-long program is open only to student developers in their pre-final and final years. The Freshers get an opportunity to build real products and to learn foundational concepts like Databases, OOPs, Developer Tools, Applied Data Structures, Algorithms and more.
    • Crio Launch+: This is an invite-only paid program where students get to learn key tech skills in a hands-on work-like software product development environment.  The four-month-long program is open only to Crio Launch graduates. Once the students complete this program, they are ready to work in some of India’s best tech companies.
    • Crio Accelerate: The program offers early-stage working professionals to get work-ready software product development experience. This five-month-long program is open to working professionals with 0-3 years of industry experience.
    • Crio DevSprint: The program offers early-stage working professionals to get work-ready software product development experience and land the best product development job.

    Founders of Crio.Do and Team

    Rathinamurthy R and Sridher Jeyachandran are the founders of Crio.Do.

    Founders of Crio.Do
    Founders of Crio.Do

    Sridher and Rathinamurthy have known each other from their undergraduate days. They both took different career paths before coming together in 2018 to start Crio.Do.

    Sridher moved to the USA for his masters and then spent over a decade in Silicon Valley working with companies such as NetApp and Google. Before starting Crio, Sridher spent a stint at the Google India office as a product manager.

    Sridhar envisions establishing Crio.Do as an experiential learning platform for the tech world that would fundamentally change the way tech is learned with high-quality applied learning opportunities at scale.

    Rathinamurthy has worked across engineering, product and consulting fields with companies like Novell, E&Y and Flipkart. Before starting Crio.Do, he was Senior Director at Flipkart, leading Marketplace Product.

    Crio.Do's Team
    Crio.Do’s Team

    How was Crio.Do Started?

    In early 2018, the co-founders’ mutual passion for technology and education brought them together. Being part of world-class organizations, they both had the first-hand experience of building and managing great teams and witnessed the impact good developers can make. They could also visualize the trend of tech transforming every traditional industry, and proficient developers being the driving force behind that change.

    When they looked around the ecosystem for nurturing developer talent, they realized that existing ways of developing talent were neither adequate nor efficient. There was no way the learning & education ecosystem could supply the massive number of product developers the country’s start-up and tech ecosystem demanded and deserved. That was the seed for Crio – to democratize the applied learning opportunity at scale with its unique experiential learning platform and pedagogy which leverages deep tech, data and learning sciences.

    Crio.Do – Target Market Size

    India produces the world’s largest number of Computer Science graduates (2.15 lakh) each year, and there are multiple reports to indicate that over 80% of these graduates have skill gaps. Some reports indicate that CS graduates in the US (around “65,000” per year) are much ahead of their Indian counterparts in their ability to use their skills in a real-life environment.

    On the opportunity side, there is a rapid increase in jobs in software product development due to tech disruption in most industries. These tech companies look for real experiences and a strong work portfolio in the profiles of their prospective engineers while hiring. But the opportunities for engineering graduates to get real experience and build a portfolio are very few and dispersed.

    At Crio, the team believes in enabling this really large pool of CS graduates to become better equipped and better skilled in software product development through their experiential learning platform and pedagogy. This is also true for a large number of entry-level employees in the software sector that could benefit from Crio’s pedagogy in terms of upping their skills and competency.

    Further, the platform can ramp up the skill levels of newly hired employees in tech companies to make them productive much faster. Crio can make a meaningful difference in improving the skill level of engineers, such that it can be demonstrated to their employer or a prospective employer.

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    Crio.Do – Business Model and Revenue Model

    Crio.Do operates on a B2C business model. The company has four direct to developer experiential learning programs – Crio Launch, Crio Launch Plus, Crio Accelerate, and Crio DevSprint.

    Crio Launch is a free community program for student developers to strengthen their software engineering foundations. Crio Launch Plus and Crio Accelerate are career programs for students and working professionals respectively. In these programs, developers get work-like software product development experience and learn key tech skills hands-on. Crio.Do claims, “Pay us ₹ 89,999 + GST at the start of the program. If you do not land a job paying more than your Minimum Guaranteed CTC within a year, we will refund your money. No cost EMI options are available via our partners.”

    Crio DevSprint is a premium experiential learning program where developers strengthen their backend engineering skills by building real software products and addressing various product development scenarios in a work-like environment. This is a pure learning program that does not come with referral services.

    There is also an experiential learning program for tech organizations called Crio Onboard, where the training modules are fine-tuned to the specific requirements of the company to ramp up their engineering talent. In this case, developers of the company spend anywhere between 2 to 3 weeks going through the curriculum to ramp up on the required skills before hitting the floor running. Companies pay per developer in a cohort for Crio Onboard.

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    Crio.Do – Funding and Investors

    Crio.Do company has raised total funding of $1 million in January 2019.

    Date Stage Amount Investors
    January 2019 Seed Round $1 million Binny Bansal, Mekin Maheshwari, Ravi Garikipati

    The investors of Crio.Do are Binny Bansal, Co-Founder Flipkart; Udaan Co-Founders – Amod Malviya, Vaibhav Gupta and Sujeet Kumar; Ravi Garikipati, Co-founder & CEO, Davinta Financial Services; Mekin Maheshwari, Founder, Udhyam Learning Foundation.

    In the coming months, Crio.Do look at doubling their investment and accelerating their expansion in the tech learning space across the world through their experiential learning programs.

    Crio.Do – Growth

    Last year has been amazing for Crio. In its direct-to-developer offerings, they launched a very successful free community program called Crio Summer Of Doing for student developers from 200 engineering colleges across the country. They followed it up with the launch of Crio Launch for student developers, another free community program where they witnessed participation from students in over 500 engineering colleges across the country.

    These talented student developers have just graduated from the program and signed up for Crio Launch Plus, a career development program for students. The company has also launched its career development program for Working Professionals called Crio Accelerate.

    Crio Developers from these career development programs have successfully cracked opportunities in fast-growing tech organizations like CRED, Vogo, Ninjacart, Jumbotail, Playment, Postman, UrbanLadder and more.

    The first version of Crio DevSprint, an experiential learning program that helps both students and working professionals become sought-after product developers has also been launched successfully this May.

    In the space of tech learning for businesses, the team has delivered their experiential learning programs (Crio Onboard) to engineers in leading tech organizations like Flipkart, Visa, Rakuten, Goibibo, Jio, Kaleyra, Capillary and more.

    Crio.Do – Future Plans

    “Over the coming months, we will continue to double down our investments to deliver our learn-by-doing programs to student developers and working professionals early in their careers. We will also be accelerating our expansion in the tech learning space across the world through our experiential learning programs.”, says Rathinamurthy R, co-founder of Crio.

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    Crio.Do – FAQs

    What does Crio.Do do?

    Crio.Do helps you to learn technology through work-like experience if you’re looking for a program where you can learn by doing.

    Is Crio.Do free?

    The program called ‘Crio Launch’ is a completely free and app-based solution that promises to offer real product development experience to students and empowers them with relevant technical skills.

    What can I expect from Crio’s program?

    Crio’s program will arm you with practical skills that translate into career growth and success at work. You will gain job-like experience while advancing your learnings.

    Why should I choose Crio.Do?

    Companies expect students and young professionals to have practical experience, which most of the curriculum and certification courses do not provide. Crio.Do helps you to bridge this gap.

    What does Crio mean?

    The English Translation of Crio is a child.

    Is Crio winter of doing worth it?

    Crio Winter of Doing externships are a great opportunity for you to solve real-world problems in an actual tech startup setting, and learn key skills that will help you advance your career.