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 Simply Blood.
The value of blood cannot be emphasized no matter how much one tries to do so in oral or written. In India, someone needs blood every two seconds. Unfortunately, many Indians die due to the unavailability of blood.
A report by WHO puts India’s requirement for blood at 12 million units annually with only 9 million units being collected. Moreover, it is shameful that some immoral and wicked individuals are resort to blood donation-related scams, a heinous act that has come under the spotlight recently. From illegally selling blood to its adulteration, the incidents are spine-chilling. While many are concerned about the pathetic condition of the blood donation industry, Kiran Verma, a youth from Delhi, actually took a step forward to purge this sector of corruption. Kiran Verma started ‘ Simply Blood’ — the world’s first virtual blood donation platform. It allows an individual who requires blood to directly connect with blood donors, thus eliminating middlemen and any sort of fraud.
StartupTalky interviewed ‘Simply Blood’ founder Kiran Verma to understand more about his venture that has now saved the lives of many to date by arranging blood on time.
Simply Blood is the world’s first virtual blood donation platform having more than 10,000 registered users from more than 180 countries. Simply Blood can be accessed through the ‘Simply Blood’ Android app available for download on Google Play Store. Non-Android users can connect to Simply Blood through its website.
All About Simply Blood
A user has to download the app and register as a blood donor by choosing a date for donating blood. The ‘Simply Blood’ real-time GPS enabled app tracks the user’s location on the selected date and shares their availability on the app to other platform users within a 10 km radius. This way, Simply Blood will notify only the needy closest to the blood donor on the selected date.
Within 3 clicks, a person can raise a request for blood requirement and their notification goes to all the potential donors available on that date and location.
Simply Blood – Team
Kiran Verma founded Simply Blood alongside Achal Garg, Jatin Sahgal, Neeraj Mehraniya, Saurabh Gupta, and Mohit Kumar Balyan.
Kiran Verma | Founder, Simply Blood
Kiran is a school dropout while the other co-founders are software engineers and alumni of Ch. Devi Lal State Institute of Engineering & Technology, Sirsa (Haryana).
Achal Garg left Simply Blood in March 2019 and Jatin Sahgal quit the same in June 2018.
Simply Blood – How It All Started?
The idea for a blood bank startup came to Kiran’s mind when he was just 7 years old and lost his mother due to cancer.
Her death left me all alone. I realized the meaning of losing my own at an early age. This was the initial step towards SIMPLY BLOOD – First Virtual Blood Donation Platform. I took an oath that I will do something for mankind. Just after I turned 18, I immediately started blood donation as a volunteer.
Kiran started donating blood regularly and as his connections increased, he formed a Whatsapp group of blood donors with the common aim to help people in need of blood. He experienced another life-changing event in August 2016. A member of the WhatsApp blood donors group Kiran had fostered needed platelets for his mother who was fighting dengue. The member assumed he would manage to reach his mother soon as he was around 2-3 hours away from the hospital. Alas! By the time he reached the hospital, the worst had happened. That day Kiran realize the value of time, especially in critical medical cases.
On 28th Dec 2016, he got a random call mentioning somebody required blood at a hospital in Delhi. After donating blood, Kiran wanted to meet the blood receiver. He couldn’t meet the patient but luckily met his wife. Kiran was shocked and hurt to know that the blood he donated for free was sold to his wife for INR 1500. I called the person who called me but he didn’t respond to my calls. I realized the person was a tout who is doing black marketing in Delhi and also runs a blood donation society through their app and blood donation camps – Kiran recounts.
Kiran decided to quit his job the same day and give 100% to this cause. He found a few developers willing to provide technical support to Simply Blood for the next few years at a nominal cost. They collaborated and got the Simply Blood Online Platform ready for launch on 3rd Jan 2017. The app was released to the general public on 29th Jan 2017. The second version of the Simply Blood app was launched on 23rd September 2017 by Vijay Goel, the former Minister of Youth Affairs and Sports.
After the launch of Simply Blood, Kiran traveled a lot to different parts of the country as well as Nepal and Bhutan to spread awareness about his initiative. Over 600,000 people were educated on the importance of donating blood during his travel.
Blood donation is generally done at camps organized by NGOs, societies, and hospitals. The donor in most cases is unaware about who is getting their blood. There are occurrences of blood donated by a donor for a noble cause being sold anywhere between INR 1500 to INR 5000 (depending upon the rarity of the blood group) by private blood banks and NGOs. Moreover, a huge amount of blood in spite of being available ends up unused for donation. You may refer to a report on the wastage of blood.
Organizing Blood Camps – Simply Blood
If somebody needs blood, they either buy the blood or have a donor arranged for it. Even though there are many large networks where one can find a number of blood donors, it’s not feasible to call up each potential donor and inquire about their availability. This leads to the wastage of precious hours and efforts. Even the time spent traveling by the donor is a bottleneck. Such deterrents often lead to the loss of lives that could have been saved by timely blood donation. Simply Blood is the solution to these deterrents.
Simply Blood, with a database of 60+K blood donors across India and more than 6000 registered donors on its platform, provides a medium to reach out to potential blood donors in the vicinity of the individual seeking blood. It eliminates the involvement of middlemen through the platform.
Someone who needs blood need not call hundreds of donors. They just raise a request for the desired blood type and all of the donors associated with Simply Blood see this request via the App, SMS, and email in a few seconds. If the search doesn’t yield any donors, the request is then handled manually using the help of the 60,000 strong donor database (with the count increasing every day) and partner agencies.
Simply Blood – Revenue Model
The motto behind Simply Blood is not to make money. As mentioned by Simply Blood founder Kiran Verma, the company is planning to follow the Wikipedia way of raising money to sustain its operations. The Simply Blood team shall do a fundraising event for a month every year and run the operations out of raised funds.
Some of the competitors of Simply Blood are as follows:-
BloodPlus is a Hyderabad-based startup with 1300+ donors. One does not require to download any app. Just register and get SMS alerts for donation.
BloodConnect has been started up by a group of young individuals from Delhi IIT led by Nitin Garg with the mission to contribute to the shortage of blood in India.
Khoon is an NGO that deals with blood donations and operates across India. It has handled thousands of blood helpline requests through its app.
e-Rakt Kosh is an initiative to connect, digitize and streamline the workflow of blood banks across the nation.
Simply Blood – Growth
A platform like Simply Blood was much needed and has received positive responses from both within and outside India. In 2016, around 13 lives were saved (from August to December) through the blood donors’ Whatsapp group that Kiran had initially created. Since January 2017, Simply Blood has saved 600+ lives in 8 countries. Some milestones achieved by the venture are:
The App reached organically to 170+ nations in less than 16 weeks
Simply blood has impacted 7000+ users in more than 15 countries
One of the highest-rated Android apps for Blood Donation on Google Play Store (4.9 ratings from 200+ users)
More than 100+ students are a part of the Simply Blood Ambassador Program (SAP)
Kiran Verma was awarded the “Social Entrepreneur of the Year 2017” honor during the India International CSR Conclave 2017 held at Ph.D. Chambers of Commerce.
Simply Blood is on a noble mission to save millions of lives!
Tell us about your story where you helped someone in need of blood. How you felt after helping a person? What was going through your mind? Should everyone donate blood to a random person or a genuine startup-like Simply Blood? What’s your take on this? We would love to hear from you. Comment below on how you’re helping the community in difficult times like this ongoing pandemic.
Simply Blood – FAQs
What is Simply Blood?
Simply Blood is the world’s first virtual blood donation platform.
Is Simply Blood an NGO?
Simply Blood works on a Wikipedia revenue model where the people can donate whatever amount they deem the startup to be worthy of to keep it running.
When was Simply Blood founded?
Simply Blood was founded in 2017 by Kiran Verma.
What revenue model does Simply Blood follow?
The motto behind Simply Blood is not to make money. The company is following the Wikipedia revenue model to raise money to sustain its operations.
Company Profile is an initiative by StartupTalky to publish verifiedinformation ondifferent startups and organizations. The content in this post has been approved by 3Hcare.
Diagnostics tests are done to find if a person has a certain disease. An accurate diagnostic test is important to avoid trial and error in treatment. 3Hcare, a Delhi-based healthcare startup is here to ensure that your diagnostics are done safely and conveniently. It provides different health packages, 3Hcare ThyrocareAarogyam being the most popular one. Read this article to know more about a healthcare startup in India, 3Hcare and its success story.
3Hcare is a Delhi-based startup operating in the healthcare sector. 3Hcare is an online marketplace for healthcare services. It provides detailed information on healthcare services provided by PAN India. A user can simply log on to 3Hcare’s website and find nearby diagnostics and hospitals as per their requirements.
Our mission is to assist in getting quality health services and facilities for the community, to promote wellness, to relieve suffering and to restore health as swiftly, safely and humanely as it can be done, consistent with the best service we can give at the highest value for all concerned. – Ruchi Gupta (Founder of 3Hcare)
According to the Indian Diagnostic Services Market Outlook 2020, the diagnostic services market will be growing at 27.5% for the next 5 years. The market has reached INR 860 Billion in revenues by the end of 2020. Some of the major causes for this fast-growth are increasing health consciousness, an increase in the number of people having insurance cover, improving healthcare services, etc. Covid-19 is also one of the major reasons for the borne of the healthcare industry. The Novel Coronavirus has not only hit the nations mentally but also economically, especially the healthcare industry.
The healthcare market is expected to reach $372 billion by 2022.
CA (Dr.) Ruchi Gupta, Dr. Ravinder Pal Singh Malhotra and Dr. Gurdeep Singh Ratra are the founders of 3Hcare.
3Hcare’s Founders
Ruchi Gupta is a doctorate in Risk Management and a fellow member of The Institute of Chartered Accountants of India. She pursued her MBA from GGSIP University and Bachelor’s degree in Commerce from SRCC, University of Delhi. She is a prolific educationist, qualified UGC NET-JRF having a decade-long experience in mentoring management students for the corporate world in the field of applied Finance & Business Management. She also has extensive experience in reviewing and writing subject-specific books in finance & management. Her numerous papers have been published & presented in renowned journals and conferences. She is a member of the panel of authors in the Central Board Of Secondary Education (CBSE).
Exclusive Interview of 3Hcare’s Founder Dr. Ruchi Gupta
Dr. Ravinder Pal Singh Malhotra is an MBBS, MS (General Surgery, MAMC, Delhi) and M.Ch. (GI & HPB Surgery and Advanced Laparoscopic Surgery, GB Pant Hospital, Delhi). He did his fellowship in Liver & Multi Visceral Transplant at Sir Ganga Ram Hospital, New Delhi. He worked as an online CME Observer at John Hopkins Hospital, USA and Chairperson in Harvard Accredited CME’s for GI Surgery. He has around 13 years of experience in Liver Transplant, HPB & GI surgery in India with exceptional donor and recipient surgery safety records. Ravinder has been a part of more than 700 live-donor-related liver transplants, 500 pancreatic surgeries, 2000 liver surgeries, 500 gall bladder cancer resections and has vast experience in other GI surgeries.
Dr. Gurdeep Singh Ratra is an MBBS, M.S. (Orthopaedics) and M.Ch. (Orthopaedics). He did his fellowship in Joint Replacement (Endoklinik, Germany) and Joint Replacement and Sports Medicine (AKH Hospital, Vienna, Austria). Dr. Gurdeep has clinical experience of more than 13 years in the field of Orthopaedics. He has a special interest in joint replacement and deformity correction. He is passionate about the Ilizarov technique and limb-lengthening procedures.
The other core members of the team are–
Mr. Ankush Mehra, who is the director of 3Hcare. Ankush is a Post Graduate in Commerce and MBA. Ankush is a prolific supply chain specialist and a startup man with 22 years of experience, known for creating and managing highly responsive yet cost-effective and efficient solutions. He worked with corporates like Honda Siel Cars India Pvt. Ltd., Samsung Electronics India Information & Telecommunications Ltd., Metro Cash & Carry, Reliance Hypermarkets & LimeRoad.
Mr. Sumit Gupta is an IT manager at 3Hcare. He did his MCA from Guru Gobind Singh Indraprastha University. He is an expert at C#.net and VB.net languages, with extensive experience in working on databases like SQL SERVER, MYSQL, ORACLE. His functional domain encompasses operating systems like Windows 8, Windows 7 and Windows Server 2012. He is proficient in scripting using HTML, ASP.net, Javascript, and Jquery. He has over 8 years of experience with a number of projects for Indian as well as international clients.
The founders decided to divide the team into three departments – one to focus on the medical field, one on the marketing and the other in the technicaldomain. Initially, the startup was functional with only 10 members including founders. But with the growing response from the public, the team had managed to expand over 50 members within less than 6 months.
Ruchi had never planned to become an entrepreneur. She pursued her MBA along with CA and is also a Ph.D. scholar. Inherited the interest in teaching from her parents, she also wanted to become a lecturer. In pursuit of her dreams, she became a mentor to management students and worked as a lecturer in a college in Delhi for many years.
She noticed many complications that the common public faces while getting a diagnosis in hospitals and other test centers, one incident that especially left her wanting to make a difference was the difficulty faced by a relative in finding a good hospital and diagnostic services during the time of emergency.
Ruchi’s relative was suffering from dengue and needed immediate admission, wherein the hospitals denied admitting him due to overcrowded. She was not in a position to wander around to different hospitals in search of bed availability. But giving reference to a known doctor, the patient was immediately admitted. The problems did not end, soon the admin staff asked her to get the patient tested for platelets, due to lack of facilities during that time. This was another challenge for her to track and locate a diagnostic lab that can provide the test results immediately for further treatment. In the end, only her reference helped the patient with regular tests and treatment. This incident came as a wake-up call for Ruchi and the idea of starting 3Hcare was formed.
However, to practically execute the idea, she still had many hurdles to cross. She wanted to create an online portal by tying up with various labs to make all the tests available to the patients with ease and transparency. To develop a team, she actually shared the idea with more than 300 people and at last, found 4 reliable sources who were convinced with her idea – Dr. Gurdeep Singh Ratra, Mr. Ankush Mehra, Mr. Sumit Gupta and Dr. Ravinder Pal Singh. And finally, with the initiative of the co-founders, 3Hcare was started in September 2016.
3Hcare – Name and Logo
The 3H stands for – Help, Health, and Happiness.
Our aim is to help the common masses to bridge the gap between healthcare services and patients .
3Hcare Logo
3Hcare – What is 3Hcare?
3Hcare is an online marketplace for health services. They provide several featured tests and packages. 3Hcare Thyrocare Aarogyam provides Aarogyam profile packages and preventive health checkup packages. The services currently provided by the company are –
Diagnostics – With over 1500 labs and 350 test centers (NABL accredited) to choose from over 50+ locations throughout India, this vertical provides ease for every patient to search, compare & book online lab tests with the value addition at discounted rates.
Plan My Surgery – One of the essential innovations rendered by the online portal includes Plan My Surgery vertical. An innovation by which the patient can plan their surgeries with the best surgeons at the viable cost & schedule. Moreover, a price comparison is available and the patient is also able to seek time availability and appointment with the best in class doctors and hospitals.
Option to choose among the best labs in the patients’ preferred locations.
Price transparency.
Attractive discounts and offers on services.
Under Plan My Surgery, 3Hcare makes all information available such as expenses required for surgery, doctors available and the accreditation of the hospital. All this information is available online, which makes it easier for patients to make informed decisions.
3Hcare – Revenue Model
3Hcare’s revenue model is simple. As its services are free for the patients, it charges only support fees from centers and hospitals.
3Hcare – Funding and Investors
3Hcare has raised a total of $1.1 Million in 2 rounds of funding. Its funding details are as follows:
Funding Date
Funding Stage
Funding Amount
Investors
September 2017
Angel round
$100K
Angel Investors
August 2018
Venture round
$1 Million
–
3Hcare received an angel fundingof $100K, just within 11 months of its inception. The funds were used to develop the IT infrastructure and enhance the other verticals. Recently 3Hcare also raised a second round of funding of $1 million.
3Hcare – User Acquisition
For 3Hcare, the main focus was to provide the best of services to the public. Word of mouth publicity is something that the healthcare startup focused on acquiring new users. Price transparency and discounted prices/offers have also attracted new customers.
Further, to add to the CSR activities, and spread awareness about the importance of timely diagnosis, the team organizes regular free health checkup camps at various locations like rural areas, slums and villages across India.
The main focus was to deliver the best services to the public. If the services are provided with the best class quality, the word of mouth power by the patients/persons seeking the services are the best reference publicity.
3Hcare – Startup Challenges
In the initial months when the website was under construction, it was a huge challenge for the 3Hcare team to convince tying up with diagnostic centers. Still, they managed to bring around 180 centers. Today the portal is ready with over 1000 test centers (PAN India) to choose from with further verticals yet to be added.
According to Ruchi, apart from developing a reliable team, the other major challenge was to self-check for quality labs before getting associated with them. The task was tedious to completely check each and every lab initially for quality, report accuracy and accreditation.
While the further expansion of 3Hcare’s other vertical – Plan My Surgery, rendering comparative quotes, providing real-time data of bed and doctors availability was initially a challenge.
With the progression of data management in our cloud, synchronization helped to overcome the herculean task. Our main aim was to develop the IT infrastructure and strengthen it with the application of artificial intelligence and machine learning.
3Hcare has established itself as a trusted name among its niche customer base. In terms of patients, booking tests through 3hcare.in have increased 10 folds in the past 2-3 months, and the same is the case with revenue.
3Hcare currently has 400+ diagnostic partners and 40+ hospital partners.
The company’s future plans are-
Launch Diagnostic Centre vertical of 3Hcare with the initiation of website functional throughout the world (with an aim to boost medical tourism in the upcoming years).
Launch all verticals along with Mobile applications on a PAN India basis.
International Tie-ups for the second opinion.
Opening of Branches and regional offices.
Covering PAN India and start of Medical Tourism Services.
Adding new Healthcare and wellness verticals like Yoga, Homeopathy, Ayurvedic and fitness centers.
Starting “Manage My Health” vertical.
To open offline labs throughout the tier 3 and tier 4 cities in India to encourage patients to get timely tests.
Become the Leading Marketplace in India’s Healthcare sector by 2022.
Our team has already commenced the opening of offline labs by the name of ‘3Hcare Labs’ in the rural areas. Presently, we have targeted to cover the western UP and Eastern Haryana belt where most backward villages are still devoid of diagnostic centers (that has only sample collection centers, report generation takes 2-3 days there).
3Hcare – FAQs
Does 3Hcare provide Healthcare services?
No, 3Hcare provides details about healthcare services available pan India along with the specialization they have. Users need to register and choose as per their needs.
How much is the registration fee to use 3Hcare?
3Hcare registration fee is free. After registration, customers can avail themselves of the benefits provided by 3Hcare.
How is 3Hcare review?
3Hcare has average to good ratings. It is quite safe to trust and use 3Hcare.
Who is the 3Hcare founder?
CA (Dr.) Ruchi Gupta, Dr. Ravinder Pal Singh Malhotra & Dr. Gurdeep Singh Ratra are the three founders of 3Hcare.
How much is 3Hcare funding?
3Hcare has around $1.1 Million of funding.
Who are the competitors of 3Hcare?
DocPrime, Zoylo, Renew Health and Spreemo are the top competitors of 3Hcare.
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 VingaJoy.
The world is going wireless. The once-popular landline phone is now almost on the verge of becoming extinct. Reports have shown that the number of landline phones in India is shrinking fast. With the advent of mobile phones and wireless technology, people now prefer to do everything from talking to entertainment and work all on the go. Owing to this trend the demand for mobile and wireless accessories is also growing exponentially.
Indian mobile accessories market is likely to grow at a CAGR of over 10% by 2023, due to increasing inclination of customers towards modern, safe and secure accessories. Additionally, rapid penetration of smart devices across the country, increasing demand for advanced mobile accessories, along with increasing R&D investments in wireless connectivity is expected to further boost India mobile accessories market in the coming five years. To meet this growing demand for wireless accessories VingaJoy – A New Delhi based startup has come up with a wide variety of wireless electronic products that keep you connected and entertained anytime and anywhere. VingaJoy is a brand under UBON Company.
StartupTalky interviewed VingaJoy (Ubon) co-founder Mandeep Arora to know more about the startup.
VingaJoy provides a wide perspective to enlarge in mobile & lifestyle accessories products, mainly focused on wireless products like wireless earphones, speakers, wireless headphones, wireless mobile chargers, power banks, etc using QI Technology. Its products are recognized for style and engineered for performance, providing a seamless integration of hardware, software and design. The company believes in the world of being wireless, hence they came up with accessories which don’t bind you.
VingaJoy Lifestyle accessories
VingaJoy envisions to become the Numero Uno brand in the Indian market by being unique and sharing knowledge through continuous improvement driven by the creativity. Its philosophy of keeping innovation at the heart of manufacturing helps it create products that are world class yet affordable at the same time.
VingaJoy Logo
VingaJoy’s slogan- ‘BE LOUD BE PROUD” defines that they are fully optimistic with their vision to grow loudly in the market.
Vingajoy – An Ubon Brand
VingaJoy is a brand under UBON. With its origin in Delhi, India, Ubon is owned and founded by Mandeep Arora Om Prakash Arora, and Lalit Arora. It is a lifestyle brand that deals in consumer electronics like Bluetooth Speakers & Headphones, Chargers, Cables, Surge Protectors & other gadget accessories.
VingaJoy – Founders/Owners
VingaJoy was founded by Mandeep Arora, Om Prakash and Lalit Arora in 2015.
VingaJoy founders and team
The idea was to bring new technology to the customers in economical rates. Of the founders, Mr Mandeep Arora, who is a law graduate is currently working as Joint Legal Advisor, Delhi Mobile Trader Association. he felt so strong about this idea that wanted to build a mobile accessory brand which can deliver quality products with an affordable price tags.
How Was VingaJoy Started
Mandeep Arora came up with the idea of staring ‘VingaJoy’ as a brand that bring new technology to the customers in economical rates. VingaJoy delivers quality products at affordable price tags.
VingaJoy was launched in New Delhi in 2015, and it was a humble launch. A few media people and fellow fashion & tech. bloggers from New Delhi were invited. They visited the corporate office to have a look and took a note of the product offerings, so that they can share VingaJoy’s story on their respective media platforms.
To make VingaJoy available everywhere, the startup is putting their faith in offline channels more than online channels. They have a robust supply chain network which enables them to distribute its products all over India with the different distribution levels available in every state. One thing VingaJoy team found out while doing their research was that people prefer to try and physically feel the product prior to taking a buying decision. This forced them to develop products that are eye catchy and premium as well. They have also collaborated with leading online marketplaces such as Amazon, Snapdeal and Flipkart to reach the masses. VingaJoy has mastered the retail chain network across India and can be found at majority of the shops & showrooms in the country.
Ayushmann khurrana- VingaJoy
From the beginning itself, VingaJoy saw a great demand from customers for wireless sound equipment like speakers and headphones. As a result, they worked upon to strengthen their audio profile. Additionally, VingaJoy collaborated with Ayushmann Khurrana which got them a lot of recognition with their target audience through TV commercials and social media campaigns.
VingaJoy – Startup Challenges
In a business like tech accessory keeping up with the innovations is a major task. A tech revolution can take place overnight and you would not know it. VingaJoy felt the same when wired gadgets were receiving flak because of portability issues. So to cater to this need, VingaJoy decided to dive into wireless products and come up with an ecosystem of wireless audio products.
To name a few competitors, Zaap & Leaf are some of the primary competitors of VingaJoy.
VingaJoy is providing quality with an affordable price tag, so keeping their products under an affordable range is their sure shot to steer ahead of competition while serving growing customers.
VingaJoy – Future Plans
VingaJoy’s products are receiving positive feedback from customers and tech influencers alike. Recently, they on boarded Mr. Ayushmann Khurana as their brand ambassador, which is a good start for their marketing goals. In the future, VingaJoy is looking to tap into IoT and AI based products to serve dynamic needs of tech-savvy consumers.
VingaJoy – FAQs
What is Vingajoy?
VingaJoy provides a wide perspective to enlarge in mobile & lifestyle accessories products, mainly focused on wireless products like wireless earphones, speakers, wireless headphones, wireless mobile chargers, power banks, etc using QI Technology.
Is Vingajoy a brand under Ubon Company?
Yes. VingaJoy is a brand under UBON, a lifestyle brand that deals in fashionable consumer electronics like Bluetooth Speakers & Headphones, Chargers, Cables, Car Accessories, Surge Protectors & other gadget accessories.
Who is Ubon Company Owner?
Mandeep Arora, Om Prakash and Lalit Arora are owners of Ubon Company.
What is Vingajoy Origin Country?
Vingajoy is an Indian origin Company with headquarters in Delhi.
Company Profile is an initiative by StartupTalky to publish verifiedinformation ondifferent startups and organizations. The content in this post has been approved by Green Cure Wellness.
Herbal and Ayurvedic products are being used for ages by human beings for good health and personal care and is still widely used across the world. According to a report by Confederation of Indian Industry (CII) and Pricewaterhouse Coopers (PwC) published in 2017, 77% of Indian households use Ayurvedic products. Again, globally, the Ayurvedic products market is expected to be valued at $9.7 billion by 2022.
While there are many companies in India that are manufacturing quality Ayurvedic medicines and products to meet the ever increasing demand, Green Cure Wellness is a company that is moving a step forward, combining the best of German expertise and best quality international ingredients to Indian Ayurvedic wisdom, to come up with revolutionary healthcare and personal care products.
Green Cure has so far applied for 13 patents for its formulations. The company is also certified ‘Made Safe’ by Safe Cosmetics Australia and recognised by Namo Gange for outstanding achievement in the field of AYUSH (Ayurvedic, Yoga and Naturopathy, Unani, Siddha, and Homeopathy).
GreenCure Wellness manufactures herbal personal care and health care products of international quality. Green Cure has a team of scientists in Germany who develop high quality formulations which are as per European norms. While, it has another team of Ayurvedic specialists in India who make sure that these products are in line with Indian needs.
Germany is the world’s leading technology hub for herbal and natural products. Green Cure leverage high German quality with age old wisdom of Ayurveda, to manufacture efficient products that are free from side effects.
The popular Green Cure Wellness products include, ‘BronchiCure’, which is India’s first lung care syrup. BronchiCure is a Immunity booster for Asthma & Bronchitis patients. ‘Green Cure Arnicap‘, is a herbal pain relieving cream. Green Cure Wellness also offers various skin care, baby care and beauty & personal care products.
green cure wellness reviews
Green Cure Wellness – Founder
Mr. Sanchit Garg is the founder and Managing Director (MD) of Green Cure Wellness.
Sanchit Garg – Founder, Green Cure Wellness
Sanchit has an MBA from IIM Calcutta and worked at the Boston Consulting Group, before starting Green Cure Wellness along with his father Suresh Garg. His new vision and modern approach along with the years of business experience of Mr. Suresh Garg is all set to take the company to new highs.
Mr. Suresh Garg always had entrepreneurship in his genes. At the age of 21, he walked away from his well-established family business to venture out on his own. He started and failed in 2 businesses after which he started a business in steel wires in 1995, which turned out to be the turning point of his life. He has been successfully running this business since 20 years now and has a turnover of Rs. 450+ crores with export to more than 15 countries.
In 2015, Mr. Suresh Garg was travelling to Germany on a business trip and suddenly suffered from a breathing issue and he could not find his inhaler which he generally carries with him and rushed to a pharmacy and asked for medicine for wheezing. He was given a herbal syrup. This really surprised him because in India, on his countless visits to asthma doctors, he has never heard of such a product. In India, only inhalers were available which have steroids in them. Plus these inhalers has several side effects too. This incident left Mr. Suresh with a thought to introduce such products in the Indian market.
Mr. Suresh Garg’s son Sanchit Garg, joined hands with father to make this dream a reality. Sanchit started ‘Green Cure Wellness’ to introduce world class herbal products in India. The founding members had to devote the initial 2.5 years in sourcing talent in Germany and procuring ingredients of highest quality. Thestartup was launched at Ayush expo in Pragati Maidan, and today ‘Green Cure Wellness’ is World’s first company to combine German Engineering with Indian Ayurveda.
“Our mission is to start a revolution in India where the customer ‘Turn the Label’. We want to start a movement where customers are aware of what goes inside their products and know the drawbacks of each. We want to touch 20 crore customers in the next three years and spread out message of healthy and safe products” says Green Cure Wellness founder Sanchit Garg explaining the company’s long term goals.
Green Cure Wellness – Name, Tagline and Logo
As the company manufactures chemical free, herbal and ayurvedic healthcare and personal care products, the name ‘Green Cure’ is a perfect fit.
Green Cure’s tagline is, ‘With Respect to Nature’
Green Cure Wellness Logo
We came up with name by chance. Green Cure seemed too good a name and we thought that someone must have already purchased the trademark.
The Green Cure Wellness business model is that it sells its products directly to customers. The products are available in stores and can be purchased through Green Cure Wellness’ website and also on other leading e-commerce business sites.
Green Cure Wellness – User Acquisition
Facebook has been really helpful for Green Cure. When Green Cure launched its product ‘Bronchicure’ which is India’s first herbal syrup for lung care, it got viral at an expense of just INR. 20K. Right now, digital marketing and e-Commerce websites are doing the trick for Green Cure. They also extend various combo offers and discounts to its customers.
green cure wellness reviews
Green Cure Wellness – USP and Innovation
Green Cure Wellness’ USPs are as follows:
The raw materials are sourced from Germany and Australia from companies with proprietary technology. Green Cure ingredients also have international certifications like NPA, Cosmos Ecocert, ISO, WHO-GMP, Kosher, NOP and HACCP
Green Cure Wellness’ products are free from EDTA, Paraben, PEGs, PPGs, Mineral Oils and Paraffin. They are in line with European Union Norms. These substances are commonly added in Indian consumer products while a lot of them are banned in Europe. These products have a lot of long term side effects.
Green Cure has received certifications from Safe Cosmetics Australia, one of the oldest certification bodies for Personal Care products. Green Cure Wellness is one of only 80 brands Worldwide to receive this honor and one of the first in India.
The certificationsthat Green Cure Products have are-
Australian Certified Toxic-Free – Green Cure Products exclude 100% of the top offending chemicals from their product formulations.
Made Safe certification – Where healthier ingredients are not available, Safe Cosmetics Australia allows less than 15% of the formula to contain the necessary ingredients to produce a competitive product.
Cruelty Free certification – Products are not tested on animals.
Vegan certification for Green Cure’s Asthma syrup making it the first syrup in India to receive the honour.
The products comply with the principles laid by USFDA.
The products comply with the Good Manufacturing Practices (GMP) laid by WHO.
Green Cure Wellness’ contract manufacturing facilities complies with the standards laid by NPOP India (National Programme for Organic Production).
The company is in process of acquiring a few more prestigious certifications soon.
Green Cure Wellness – Funding and Investors
The Green Cure Wellness Funding saw them raise an undisclosed amount from Venture Catalysts in July 2020. The round was led by Gunvanth Vaid, Founder of 4G Capital and ACG World, which are part of Venture Catalysts.
These funds will be utilized to scale up operations and launch products in new categories
Sanchit Garg, Director, Green Cure, said, “The COVID-19 pandemic has made the world shift its focus towards herbal products that can address chronic health ailments. Built on the ancient science of Ayurveda, Green Cure aims to promote the concept of holistic living among Indians. Leveraging German Technology along with India, Ayurveda has created a strong differentiation in a sea of ayurvedic brands. The latest funding gives us more firepower to ramp up our operations and foray into new product categories.”
The biggest challenge for ‘Green Cure Wellness’ has been to make consumers believe their story of 3 years of research to combine German Engineering with Indian Ayurveda. Green Cure overcame this by asking people to try their products and let the product speak for itself. They invested a lot in free sampling to convince customers about it.
Green Cure Wellness – Competitors
Himalaya, Dabur, and Mamaearth are some of the prominent competitors of Green Cure Wellness.
Green Cure Wellness’ efforts towards bringing in quality healthcare products has been recognized by the Government of India, and also by different platforms. Some Awards and Recognition received by the company are:
Year
Achievements
2018
Received ‘Namo Gange Award’ for outstanding contribution to the field of AYUSH (Ayurveda, Yoga, Unani, Siddhi & Homeopathy)
2018
Became a DIPP certified startup
2019
Product ‘Magnative’ is ranked no. 1 in anti-allergy segment on Healthkart
2019
Product ‘Magnoitch’ is ranked no. 2 in anti-allergy segment on Healthkart
2019
Product ‘Arnicap’ is ranked no. 9 in Balms & Spray segment on Healthkart
2019
Selected by Amazon under its Launchpad Program
Green Cure Wellness – Future Plans
Currently Green Cure Wellness has presence in 1400+ stores and 4 modern retail stores including Guardian Pharmacy. In the online segment, it has served to more than 20,000 customers. Green Cure Wellness’ revenue is growing 30% month on month, and the company was expecting to reach Rs 1 crore revenue by the end of 2019. Green Cure Wellness is working towards a target of achieving 20 crore customers in next 2-3 years.
Green Cure Wellness – FAQs
Is Green Cure Product safe?
Green Cure is certified ‘Made Safe’ by Safe Cosmetics Australia. The products comply with the principles laid by USFDA. The products comply with the Good Manufacturing Practices (GMP) laid by WHO.
Who is the Founder of Green Cure Wellness?
Sanchit Garg is the Founder & MD of Green Cure Wellness.
How much funding is raised by Green Cure?
In July 2020, Green Cure raised an undisclosed amount of funding from Venture Catalysts. The round was led by Gunvanth Vaid, Founder of 4G Capital and ACG World, which are part of Venture Catalysts.
What is Green Cure Wellness?
GreenCure Wellness manufactures herbal personal care and health care products of international quality. Green Cure has a team of scientists in Germany who develop high quality formulations which are as per European norms.
Who are the Top competitors of Green Cure?
Dabur
Himalaya
Mamaearth
How much is the revenue of Green Cure?
Green Cure Wellness has presence in 1400+ stores and 4 modern retail stores. Its revenue is growing 30% month on month, and the company was expecting to reach Rs 1 crore revenue by the end of 2019.
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 Holisol.
Logistics industry size is USD 215 Bn, growing at 10.5% CAGR. In which, the Third-party Logistics market size is USD 9 Bn growing at 16% CAGR, which happens to be Holisol’s target market. Holisol is building a tech-enabled end-to-end supply chain logistics platform that will help customers improve their product availability at the lowest possible cost. Holisol offers multi-channel fulfilment solutions for B2C & B2B businesses spanning across retail, fashion, lifestyle, FMCG, online marketplaces and auto industries.
Co-founded by Manish Ahuja, Naveen Rawat and Rahul S Dogar in 2009, Holisol has already got a pan-India presence and manages close to one million square feet of fulfilment space spread across 25+ fulfilment centers, 60+ hyperlocal fulfilment centers and 30+ integrated packaging sites. Let’s know the success story behind Holisol’s growth.
StartupTalky interviewed Mr. Rahul S Dogar (Managing Director and Co-Founder of Holisol Logistics) to know The Startup Journey and Growth Story of Holisol since its inception in 2009.
Holisol offers multi-channel fulfilment solutions for B2C & B2B businesses spanning across retail, fashion & lifestyle, FMCG, online marketplaces and auto industries. It also provides integrated packaging, logistics and returnable solutions to automobile, farm equipment & heavy engineering businesses.
Holisol is building a tech-enabled end-to-end supply chain logistics platform that will help customers improve their product availability at the lowest possible cost.
Holisol’s short-term goal is to add 20 new fulfilment centers and 400 hyperlocal centers to its network while increasing the reach to 95% of the consumption market. And the long-term goal is to set up 100 FCs and 800 HFCs by 2025 in the country. Its core belief is to offer customers an experience of working like their own extended team with affordable, strategic, and operational expertise.
Holisol – Logistics Industry Details
Logistics industry size is USD 215 Bn, growing at 10.5% CAGR. 3PL (Third-party Logistics) market, which is Holisol’s target market, is USD 9 Bn, growing at 16% CAGR. The market share info of Holisol is not available as the industry is highly fragmented and unorganized.
After spending many years in the industry, the founders realized that there was a market need for an organisation that can understand customer’s business and design solutions which fit their business needs instead of offering a “product” that requires the customer to fit in. On this idea, Holisol started on June 24, 2009.
Reminiscing the initial journey of Holisol, Mr. Rahul S Dogar (Managing Director and Co-Founder of Holisol Logistics) says –
“We wanted to build the knowledge layer on top of the logistics execution that is how our value proposition incepted i.e., Design-Implement-Manage. To get our positioning right from the beginning we started with theconsulting and solution design assignments and on-demand from our customer we scaled up to managing the end-to-end operations.
Our first assignment was with a marque Agri-consulting company that approached us to design a cold-chain logistics network across India to reduce fruits & vegetable wastage in the country. We were highly enthused with the purpose and scope of the project, and whole-heartedly decided to immerse ourselves and delivered it successfully.”
Rahul S Dogar continued on how Holisol expanded its scope of work and positioned itself –
“We expanded our scope of work from design-implement to management with a project for Genesis Colors, they had 3 warehouses and we designed a solution to consolidate all of them into one and set it up for them also ran the operations before training and handing it over to their team. Holisol solution improved the process efficiencies and helped Genesis in cutting down the cost.
In another project, Holisol got an opportunity to design implement and manage the fulfilment centre for e-commerce brand Jabong. The scope included infra set-up, IT set-up, resource deployment, process training and daily operations management. The business of Jabong scaled up considerably in a short period.
For the auto segment, we designed a reusable pallet for the packaging of axles for international transportation. We not only replaced the one-way expandable wooden packaging with a multiuse returnable packaging but also helped the customer in reducing in transit damages and loading & unloading time at both origin and destination. Holisol designed-implemented and managed the whole process of axles packaging.
These showcases helped in validating our ideas which further contributed to expanding Holisol’s customer base and scaling up the business”
Holisol – Product/Services Offered
Holisol has created an Omni/multi-channel fulfilment network with 120+ facilities across the country which gives its customer access to 85% of the consuming population in India.
Holisol’s network includes well connected best-in-class warehouses, fulfilment centers, hyperlocal fulfilment centers, pick-up centers, customer experience centers, exchange centers, refurbishment centers, automated sales centers etc. Focused on apparel, footwear, cosmetics, healthcare and grocery segments, this tech-enabled ever-expanding network is ready-to-use, versatile and flexible to take care of their needs and pain points.
Holisol also offers line-to-line integrated packaging and logistics solutions to 80+ automotive customers wherein any product coming out of the line is put on its own designed packaging unit (rack, pallet, bin, box etc.) and it gets transported, handled, stored in the same packaging unit until it gets consumed on the next line. The same packaging unit is then re-used, thus creating‘green’ supply chains.
These solutions have smoothened flow for Holisol’s customers and brought in much-needed efficiencies in terms of costs, productivity, damages, and seamless fulfilment. These solutions are replicable, and the team have been able to assist customers with expansion in global markets where professional packaging is highly valued.
“The USP is to operate like a customer’s extended arm bringing our ability to understand the need/problem and design-implement-manage solutions which helps them achieve their business objectives” says Rahul S Dogar, Co-founder & MD, Holisol
It initially started as a supply chain consultancy company wherein Holisol designed solutions for the customers and implemented them as proof of concept. While doing so more and more customers started asking the company to manage the operations as well, the team realized it as a huge opportunity especially in the e-commerce, fulfilment and packaging & logistics segment; that is how we build a full-service portfolio with a value proposition of design-implement-manage. It brought us recurring revenue and an opportunity to scale up the business.
“We have a subsidiary called Holisol Talent Solutions which takes care of the talent required to manage the end-to-end operations for our customer’s business” Rahul added.
Holisol was co-founded by Manish Ahuja, Naveen Rawat and Rahul S Dogar in 2009.
Rahul S Dogar – Co-founder & MD of Holisol
All the three founders previously worked together in APL Logistics and were in the supply chain logistics industry for almost a decade before deciding on Holisol. In their previous roles, they got opportunities to manage supply chains and logistics for quite a few global brands.
After working for many years, they realized that there was a market need for an organisation that can understand customer’s business and design solutions which fit their business needs instead of offering a “product” that requires a customer to fit in.
Headquartered in Delhi, Holisol today has a workforce of +200 supply chain enthusiasts who are continuously building value through leadership, innovation, and relationships.
“When it comes to hiring a “holisolian” our top priority is to acquire a talent who is aligned with our core values. We have built a culture of bonding & togetherness where everyone is respected, and our people are celebrated for their excellence. We look for people with attributes of simplicity and are eager to build their knowledge and innovate solutions which our customer needs.” says Rahul
Manish Ahuja | Co-founder, Holisol
Having 15+ years of working in the industry Manish has made Holisol a leader in integrated packaging & logistics solutions with new innovations. Before co-founding Holisol, he was responsible for service integrity in APL Logistics for India operations. He is a commerce graduate and has completed MBA in Marketing.
Naveen Rawat | Co-founder, Holisol
22+ years of industry experience, Naveen’s expertise is in designing fulfilment solutions for multi-channel & omnichannel retail. He drives innovation and is responsible for building new capabilities in Holisol. He has previously worked with APL Logistics as Head – Contract Logistics for their India operations. He is a B. Tech and completed MBA in Marketing.
Rahul S Dogar | Co-founder & MD, Holisol
22+ years of domain experience, worked with some of the leading brands such as Ikea, Agility and APL Logistics before co-founding Holisol. Rahul has experience working on both sides of the table which helped him in gaining deep insights into the supply chain. His expertise includes Strategy, Business Planning and P&L Management. He is a B. TECH and an MBA.
The name ‘Holisol’ originated from Holistic Solutions. Logistics as an organisation function impacts and get impacted by a lot of other functions like finance, marketing, production etc., Holisol wanted its solution to be ‘holistic’ by examining all aspects, hence ‘holistic solutions’.
Holisol Logo
Holisol – Business Model and Revenue Model
This is how Holisol makes money. Holisol’s three main Revenue Lines –
Offering warehousing and fulfilment services in terms of storage, inventory management, order processing and delivery. There are two models with this.
Multiuser FCs – the customers get charged on a variable basis their the throughput
Dedicated FCs – the customer gets charged a fixed monthly charge + mgmt. fee
3. Integrated packaging and logistics services where the customer pays Holisol for using its packaging units, warehousing, and transportation services.
Holisol – Startup Launch and Marketing Strategies
In the beginning, it was the founders’ network across the industry that brought business on board. Slowly, the word-of-mouth spread based on the good work which helped in getting more business on board. Word-of-mouth marketing continues to be a big business contributor for Holisol. However, in the last 5 years, Holisol has built a robust digital marketing practice wherein the focus has been to increase the outreach to the target audience through digital channels like – SEO, Social Media Marketing and E-mail marketing campaigns by sharing its stories.
Holisol’s digital marketing strategy is based on the quarterly themes it selects which is aligned with the business plans and goals. It builds campaigns around these themes and creates content around the key problem statement of the customers and industry and publishes them in the form of Blogs, Case Studies and Customer Success Stories. Along with this the team also creates Co-worker success stories to celebrate the excellence in its co-workers.
The key focus of Holisol for the marketing has been to reduce the sales efforts and increase Holisol’s outreach to the target customers and accelerate the pipeline with its digital marketing activities.
“What we focus on is insight-led marketing, our team focuses on building their understanding of the customers and their market. These insights are generated through the internal and external medium” Rahul added.
Holisol’s internal program “HoliSoul” focusses on engaging the co-workers and build their marketing orientation to enable them to become the marketer. This helps in building engagement and the trust of its customers.
Along with this, Holisol has a “Peer Engagement” program wherein it invites leaders from the industry for a Masterclass and with this, the team also expands the network of Holisol’s friends to enhance its word-of-mouth marketing activities.
Holisol uses these insights in building the content which provides valuable information and helps in solving the queries of the target customers. It values the time audience spends on its digital channels; Holisol aims to learn about them and serve them with the information they are looking for.
“There is a major dearth of talents in the supply chain logistics industry and at Holisol from the starting, we have put great emphasis on the learning and development of our people which contributed to the success of our customer’s business and their professional growth as well” says Rahul S Dogar, Co-founder & MD, Holisol
“Celebrating the Excellence in Holisolian” is a marketing campaign wherein Holisol focused on both internal and external communication of co-worker success stories. During this campaign, it recognized the co-workers and shared their story internally and externally both. It created a positive impact by boosting morale and inspiring its people, this also contributed to maintaining the high quality of services and products which made its customer’s happy and successful. This further means building more opportunity with existing customers and increasing the confidence of the target customers in entrusting their supply chain logistics to Holisol.
Initially, the team faced challenges in scaling-up as there were not many takers for concepts like multi-user facilities and re-usable packaging. These were also the concepts that needed to be built with a lot of depth in conceptualizing, designing, and engineering. Finding the right talent was a huge challenge with talent wars going on for supply chain professionals. The team at Holisol decided to take a little longer route and decided to build rather than buy, which has helped them deeply ingrain their engineering DNA, problem-solving, customer-centric attitude, and value-based culture.
One major change Holisol faced was in 2016-17 when it started building last-mile capability. Within a year it realized the key challenge related to the price-war with the heavily funded core player in this segment and increasing the market share. So, the team built the network and later scaled it down and went back to focus on their core competencies i.e., multi-channel fulfilment and packaging & logistics.
Holisol – Growth and Revenue
Holisol has a pan-India presence and manages close to one million square feet of fulfilment space spread across 25+ fulfilment centers, 60+ hyperlocal fulfilment centers and 30+ integrated packaging sites. Holisol serves 80+ large global and domestic brands across all its lines of business.
“In the next 18 months, we intend to add 20 new fulfilment centers and 200 hyperlocal centers to our network while increasing our reach to 95% of the consumption market” anticipates Rahul, Co-founder & MD, Holisol
In FY 21, Holisol turned EBIDTA profitable. Its models have got validated and are scaling up fast. Holisol is already at an ARR of INR 170 CR.
“We will do INR 240 CR. in FY 22, posting a growth of 80%” Rahul added.
Holisol – Funding and Investors
Holisol has raised a total funding of $27.24 Mn to date. It’s most recent funding was led by Northern Arc Capital in May 2021 for USD 3Mn in the form of debt.
Holisol’s Funding and Investors details are as follows –
Date
Stage
Amount
Investors
2013
Angel Round
USD 1.5 Mn
Sundeep Bhandari-promoted Datavision Systems Pvt. Ltd.
2015
–
USD 10 Mn
CLSA Capital Partners
2017
–
USD 10 Mn
CLSA Capital Partners
2019
Debt
USD 2.74 Mn
Black Soil
May 2021
Debt Fund
USD 3 Mn
Northern Arc Capital
The first angel round happened in 2013, raising USD 1.5m from Sundeep Bhandari promoted Datavision Systems Pvt. Ltd. In 2015, Holisol raised USD 10 Mn from CLSA Capital Partners and in 2017, CLSA did a follow-on round of USD 10 Mn followed by USD 2.74 Mn debt from Black Soil in 2019. On May 21, 2021, Holisol raised a debt of USD 3 Mn from Northern Arc Capital.
Holisol has been consistently witnessing a surge in demand from its customers for its reliable digitized fulfilment services and the fund raised helped in fulfilling this demand and accelerate its growth further.
Holisol – Advisors and Mentors
Holisol’s mentor is Mr. Virendra Negi, his experience of investing, building businesses and mentoring entrepreneurs have brought deep insights into Holisol and helps the team in strategizing, building leadership and execute better.
Holisol – Acquisitions and Mergers
Holisol acquired Directship Fulfilment Services Private Limited in Jan 2017 and Vishwakarma Innovative Engineers Pvt. Ltd. in 2017
DHL, Delhivery, Ecom Express, Safe Express, K&N, FM Logistics, Mahindra Logistics, Stellar, LI & Fung, Bollore, Expeditors are some of Holisol’s competitors.
Tools used by Holisol to run the company
Holisol has a high-tech orientation, and the team works consistently in making all its activities and functions tech-enabled.
For organisation efficiency, Holisol has implemented the tech tool dOpEx (Daily Operational Excellence) which helps in managing the day-to-day task efficiently.
For people development and measuring the performance, Holisol has implemented dtalk (Development Talk) where the it breaks down the company’s yearly goal in the quarterly themes and create KPIs and Projects around them and review them on a quarterly basis to ensure faster alignment with the overall goals.
For managing HR activities, the team has implemented Holistart and for finance, we have developed Holibook.
For Omni-channel fulfilment the company is using in-house developed technology – WMS (Warehouse Management System), DMS (Delivery Management System), Holiscope (Last-Mile Delivery Management System), TMS (Transport Management System), OCFS (Omni-channel fulfilment solution), PnP (Pick and Pack System)
For Packaging, Holisol has implemented HOPS (Holisol Outbound Packaging System), ULMS (Unit Load Management System), YMS (Yard Management System)
Apart from these, the company is using AI tools – PPC (Production Planning & Control), DAP (Dispatch Allocation Planning), iGrid – Logistics Supergrid.
For managing its sales activities, Holisol has developed Holisight.
Holisol Logistics Pvt. Ltd. has received the prestigious award of “Emerging Company in Logistics Service Industry” category at Confederation of Indian Industry (CII) SCALE Awards 2016 on 16th December 2016.
Holisol – Future Plans
Holisol’s mission is to set up 100 FCs and 800 HFCs to create a seamlessly connected logistics super grid by 2025 and enable customer success through its platform.
Holisol – FAQs
What is Holisol Logistics?
Holisol offers multi-channel fulfilment solutions for B2C & B2B businesses spanning across retail, fashion, lifestyle, FMCG, online marketplaces and auto industries. It also provides integrated packaging, logistics and returnable solutions to automobile, farm equipment & heavy engineering businesses.
Who founded Holisol?
Holisol was co-founded by Manish Ahuja, Naveen Rawat and Rahul S Dogar in 2009.
How much funding has Holisol raised?
Holisol has raised a total funding of $27.24 Mn to date. It’s most recent funding was led by Northern Arc Capital in May 2021 for USD 3Mn in the form of debt.
Who are the competitors of Holisol?
Holisol claims these companies as its competitors – DHL, Delhivery, Ecom Express, Safe Express, K&N, FM Logistics, Mahindra Logistics, Stellar, LI & Fung, Bollore, Expeditors.
How does Holisol make money?
Holisol makes money by offering warehousing and fulfilment services charged on variable or fixed basis, by providing its Logitech product in SaaS model and also by providing integrated packaging & logistics service.
Is Holisol an Indian Company?
Yes. Holisol is an Indian Company headquartered in Delhi, India
How much is Holisol’s Turnover?
In FY 21, Holisol turned EBIDTA profitable. Its models have got validated and are scaling up fast. Holisol is already at an ARR of INR 170 CR. “We will do INR 240 CR. in FY 22, posting a growth of 80%” Rahul (Co-founder of Holisol) says.
We have time and time gone round and round about the perks of digitization. The loan processes that would take months and had such cumbersome requirements are now available at just one click. Thanks to digitization! One such fintech startup is Loanwalle.com founded by Sachin Mittal in 2015.
Loanwalle deals in payday loans which are quick emergency loans disbursed in 30 minutes from the time it is applied for. To fulfill the fast money requirements of the customers, the loan approval process is fully automated and is based on an algorithm that assesses the applicant’s creditworthiness and grants loan within no more than 30 minutes.
It is a short-term borrowing wherein the company extends high-interest loans to salaried customers on the understanding that they would repay the loan amount along with interest on the day they get their salary. The maximum tenure of the loan is 30 days. The customer has to repay the loan on the due date along with all the interest or be subject to a penal interest for the subsequent days that he fails to repay the loan. The customer has the option to borrow once again on repayment.
Loanwalle.com offers a fintech loan product that can be approved and disbursed within minutes. This type of loan is unique in the model worldwide, due to the requirement faced by all segments of people and there is hardly anyone to meet these requirements.
It has been designed in such a way that this type of loan stands out as being different from all other loans. It is not personal loans for a long duration but is taken to meet an emergency at home or work. And due to the emergency requirement, this becomes the most approachable option.
Loanwalle.com follows a disruptive lending pattern that uses data-driven algorithms to help people with instant loan requirements 24×7, 365 days a year. It uses an advanced technology system to simplify loan application processes as well as the sanctioning process to allow loans to reach faster to the customer. The app underwrites loans using banks and CIBIL analyzer, data in phone, text, social media connections to determine creditworthiness.
About Loanwalle
Loanwalle – Target Market Size
Roughly, the payday loan market in India is estimated to be at INR 100 crores, with rapid growth in the market since 2016, when the demonetization happened. As many as 100 start-ups were born over the last three years and similar growth is projected in the next five years.
Founded by Sachin Mittal, Director, and CEO, the company has an efficient team of professionals drawn from the banking and financial sector, who run the day-to-day operations efficiently. Operations are led by Abhijit Banerjee, another director of the company with well-carted divisions like Credit, Disbursal, Recovery, Marketing, Telecalling and accounts and finance. Each division is headed by a competent professional. Loanwalle.com has 17 branches across the country with a manager heading each center.
Loanwalle- Startup Launch
The idea for Loanwalle.com was stemmed by observing the inability of banks to extend small and short term instant loans to those who need money for emergencies. Such emergency funds are required in most households and also offices and since there were no facilities available, these people had to borrow from friends or relatives, at the cost of their self-respect. And this is how Loanwalle.com started.
“Our customers are middle-class salaried people and we felt an Indianised name would appeal to them more. We are the loan people and hence the name Loanwalle” Says Sachin Mittal.
Loanwalle-logo
Loanwalle – Startup Launch
What worked the most for Loanwalle.com is the speed at which it disburses the loan amount to the customer’s account. And Loanwalle.com doesn’t compromise on this aspect. Also, it’s continuous efforts towards technological advancement helps make the process smooth and seamless for the customer.
“We were not the first among this category in the market. Hence we had to have a well-designed strategy with which we could move ahead of our competitors.” Says Sachin Mittal.
It’s strategy since inception has been speed and a wider geographical spread across the country. Both these paid rich dividends to the venture.
Loanwalle – Competitors
The instant loan market is full and filled with players with substantial market standings. Short term loan ventures include PaySense, EarlySalary, Dhani, MoneyTap, MoneyView, FlexSalary amongst many.
Loanwalle.com is fairly new in the fintech world but the growth has been phenomenal. With technology changing at lightning speed, it has kept adopting the new and latest technology to keep increasing the volume and in the process keep the interest rate at a bare minimum lower than conventional banks also. “Therefore, we are here to bring about a disruption in the lending sector,” concluded Sachin.
FAQs
What is Loanwalle.com?
Loanwalle deals in payday loans which are quick emergency loans disbursed in 30 minutes from the time it is applied for.
Who is the Founder of Loanwalle?
Sachin Mittal is the founder of Loanwalle. He also serves as its CEO.
What are some Instant loan startups?
Some startups that provide loans are Loanwalle.com, Creditbee, MoneyTap, PaySense, EarlySalary, Dhani, MoneyView, FlexSalary amongst many more.
Company Profile is an initiative by StartupTalky to publish verifiedinformation ondifferent startups and organizations. The content in this post has been approved by ElaWoman.
Infertility is a topic people don’t talk about openly. It is the inability to conceive children even after frequent, unprotected sexual intercourse over a year or more. It’s a condition that impacts couples both physically and emotionally, often ruining relationships.
Victims of infertility are more often than not left disheartened by bogus advertisements and claims that guarantee a sure-to-work solution for this medical condition. In the end, they don’t get the desired results and regret spending so much for nothing.
ElaWoman is a visionary healthcare startup making a significant difference in the lives of those affected by infertility. ElaWoman provides customized plans and treatments to solve this problem through the use of latest technology and data analytics. The transparency in treatment is what differentiates ElaWoman from others. Moreover, safe and easy financial options ensures couples with financial difficulties are not left out out.
Elawoman helps couples who are struggling to realize the happiness of parenthood. Treated as a taboo, topics such as infertility are not discussed openly on healthcare platforms. This leaves no choice for patients but to blindly believe marketing gimmicks of a non-transparent ecosystem setup by some doctors and clinics in the medical industry. This is why out of 10% of couples (of child-bearing age) facing fertility issues, only 1% go for treatment.
ElaWoman was born as a one-stop solution portal to counter the increasing occurrence of fertility problems worldwide and the increase awareness about the same. The entire team makes it a point to bring the best quality infertility treatments to couples at affordable prices.
ElaWoman – Target Market
The infertility treatment/diagnosis segment is expected to grow steadily in the coming decade. According to a top research firm in India, this industry is set to grow at 13% CAGR in the year 2020. The rapid advancements in the field of infertility medicines is can be attributed to increasing child-bearing age, growing usage of contraceptives, and altered lifestyles.
The field of infertility medicine comprises fertility drugs, infertility-related surgeries, and Assisted Reproductive Treatments (ARTs). Latest developments include Frozen Embryo Transfer (FET), Preimplantation Genetic Diagnosis and Screening (PGD/PGS), and Anti-Mullerian Hormone (AMH) tests to name a few. Array Comparative Genetic Hybridization (CGH) was recently introduced to increase the success rates of infertility treatments. A huge potential exists in this field which needs to be exploited and utilized for the welfare of couples across the globe.
How was ElaWoman Started?
The Elawoman founders came across several cases that revealed couples struggling to find a good infertility clinic or doctor for treatment. They also realized the stigma and taboo surrounding infertility issues; affected couples are afraid to discuss their issue in front of family members and friends.
ElaWoman solves the problem by bringing in transparency and independent facilitation through data analytics and other technological mediums. It offers a system that provides unbiased transparent information on doctor and centre data, treatment pricing, clinical success rates, and past patient reviews.
Couples get the benefit of having a personal health assistant to help them in each step of conceiving. The service is an end-to-end platform providing access to different features and plans.
Furthermore, ElaWoman provides information on over 5,000 fertility hospitals and doctors for IVF, IUI, ICSI, surrogacy treatments, and pregnancy care services. The fertility centres and doctors partnered with ElaWoman are encouraged to provide a transparent, upfront, and affordable pricing structure for infertility procedures. Patients are provided with customized treatment packages for result-oriented execution of the chosen infertility treatments. The customization is done based on the treatment cost, patient appointment, and the clinic/centre chosen. Ela specialists assist patients in the personalization of infertility treatment packages.
ElaWoman – Founders And Team
ElaWoman was founded by Ritu Singh, Yogesh Agarwal, and Aditya Kandoi.
Elawoman founders Ritu Singh, Yogesh Agarwal, and Aditya Kandoi (L to R)
Ritu Singh : Born in 1988, Ritu did her schooling from St. Thomas School and then pursued a B.Tech from Netaji Subhas Institute of Technology in 2005. She then did an MBA in Marketing from IIM, Udaipur. Ritu Singh is the CEO of ElaWoman.
Yogesh Agarwal : Yogesh was born in 1986 and completed his schooling from Birla High school. He obtained a Bachelor’s in Electrical Engineering from IIT, Varansi in 2005. Post graduation, he joined Lancaster University for an MBA. Yogesh is the Chief Technology Officer (CTO) of ElaWoman.
Aditya Kandoi : Aditya Kandi was born in 1989 and is an IIT Varanasi alumnus. He later did his MBA from Warsaw School of Economics. Aditya is currently working as the Chief Operating Officer (COO) of ElaWoman.
ElaWoman – Name, Logo, And Tagline
Logo of ElaWoman
ElaWoman was chosen as the brand name since Ela stands for a beautiful person surrounded by several friends and their loved ones. The company logo consists of a butterfly that demarcates freedom; the freedom ElaWoman gives couples in the form of parenthood.
ElaWoman – User Acquisition
We were on cloud nine when we met the achievement of the first 100 customers. Initially, it felt like a challenge as our concept is a new one. But then we came out with a combination of ways to reach the audience and have 100 successful customers – Ritu Singh, CEO of ElaWoman
The ElaWoman team leveraged the power of social media and user-oriented information through website’s blog section. This was combined with the reach of advertisements to target the desired audience.
Initially, it was difficult to attract customers/couples towards the concept of infertility treatment but the quality and usefulness of ElaWoman’s services made this possible. Testimonials of patients who had infertility treatments at the top centers and hospitals along with impressive success rates helped several couples contact Elawoman and trust its services.
Reaching the first 100 customers and helping them have successful infertility treatments was a remarkable experience for ElaWoman and a milestone.
ElaWoman has evolved into a healthcare platform dealing with infertility medicine, treatments, and surgeries. The innovative ElaPay facility, the first payment mode in the field of medicine, has also made it easy for patients to take a step forward. Ela’s medical loans have made the financial aspect of the treatment more hassle-free than expected. Patients also receive guidance on travel and accommodation as part of their infertility treatments.
ElaWoman – Startup Challenges
One of the biggest challenges which we faced during our initial days was mainly to convince couples to consult an infertility specialist about their infertility issues. Also, we had difficulty in making patients understand our unique brand concept – Ritu Singh, CEO of ElaWoman.
The team eventually cracked it through timely counselling and discussions with several couples in collaboration with medical specialists and psychologists; distinguished medical professionals known for successfully dealing with some of the most complicated medical cases.
Chiratae Ventures with co-investor Alkemi Venture Partners
ElaWoman – Future Plans
ElaWoman has achieved several milestones in the domain of infertility medicine since its launch. ElaWoman today has a network of more than 11,500+ doctors and clinics. Ela has its footprints in over 89 cities and 11 countries. Features such as ElaPay and Ela medical loans have made the treatment for patients a smooth sail. The company’s future looks promising with expansion plans.
ElaWoman – FAQs
What is ElaWoman?
ElaWoman is a visionary healthcare startup making a significant difference in the lives of those affected by infertility.
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 the organization it is based on.
The society and the world have welcomed the idea of shared economy. Today’s youngsters have understood the many benefits of sharing and renting rather than buying. It saves time and money and that is why we see a rise in car rental services, shared apartments and holiday homes, rented outfits and so on.
Sidhant Lamba had witnessed some major problems people face when it comes to their struggles with furniture. The buying prices are always high and there is tons of difficulty in selling used furniture. When someone wants to move or simply change the style. For those who are moving often for jobs have to take out additional time and bear the cost spent to move bulky furniture which in many cases arrives damaged. People also get stuck with old-fashioned furniture which doesn’t go with their home décor. Some people need temporary furniture but don’t want to buy them and so on. Fabrento wants to solve all these problems and then some more with free delivery, setup and installation.
Fabrento provides Furniture and Appliances on rent in Delhi, Bangalore, Mumbai, and Chandigarh. Read about Fabrento Company Profile, Revenue, Founders, Business Model, Logo, Growth, Funding, How it works, products etc.
Fabrento is a startup headquartered in Delhi which provides furniture rental for homes. They also deals with electronic appliances, started rental of furniture for offices, created Fabevents which Rents furniture for corporate and celebratory events. They have even launched a premium range for the very well heeled who want to live with luxury.
Fabrento aims to become one of the most successful furniture and appliance rental company in India. Since their sister company manufactures majority of the furniture, Fabrento has the firm belief in providing excellent quality and beautiful furniture to provide their tenants a tasteful home.
Evolution and change is very important but you can’t lose your core business if you believe in it. Alongside quality of delivery and service is key in any service providing business and Fabrento aim at excelling in that.
The online website and soon to be launched mobile Apps of Fabrento are designed in such a way that anyone can navigate it and rent functional and sleek furniture in just one tap. Their affordable rental prices ensure that renting furniture becomes extremely cost effective as compared to shelling out big bucks to buy bulky furniture.
Fabrento – How it Started?
Fabrento was started with the main goal of converting consumers’ dream homes into reality.
Mr. Sidhant Lamba, Founder, Fabrento has always been passionate about décor and furnishing. He was keen on bringing the latest furniture designs into people’s homes and offices. However, every time a new model of furniture hits the market, it is not at all a feasible option to buy it.
Because of this, many and especially millennials, fall behind to create that impressive first impression through their home décor. Furniture renting is already a lucrative business oversees and this inspired the birth of Fabrento to cater the to the millennial market of India.
Sidhant has always been someone to think out of the box. He has done his graduation from Apeejay Institute of Design in Bachelors of Interior Design. Following this, he acquired a Master’s from Regent’s University London in International Business.
He has further finessed his studies through studying Interior Decoration from Inchbald School of Design, London, Alongside Art Markets from Sotheby’s Institute of Art, London and Lighting Design course from Chelsea College of Arts, UK. He has also studied Digital and social media marketing from Dubai.
He started his career through family business, The Continental Group, which is providing interior solutions since the 1940s. He added the business of a luxury furniture store which sold furniture fashioned and manufactured by the company alongside many brands from Europe and south east Asia.
In 2016, Fabrento became the precious product of his education in interior designs and international business and his experience in the field.
Fabrento has an exceptional team of IIT graduates at the supervisory, operational, management level and advisors with 40+ years of experience in the furniture, design and business industry. They all bring their unique ideas and knowledge on the table. This is why Fabrento furniture is designed with extreme skill and care. All the rented items are at their highest quality and are functional to suit customers of all backgrounds.
Fabrento – Products/Services
Fabrento has a vast array of furniture. They offer both package deals as well single pieces. Under bedroom category Fabrento provide single and double beds, king and queen size beds, beds with and without storage, wardrobes, dressers, study tables, etc. Customers can decorate their living space with their unique sofas, coffee tables, recliners, TV units, and multi-purpose storage units.
Fabrento Beds
Apart from these, Fabrento also offers furniture for dining area, appliances, and home office, kid’s furniture and even art and accessories.
Fabrento further offers complimentary cleaning and maintenance visit every 6 months to keep the rented furniture in their best condition. Under the relocation offer, they transfer all the rented furniture from one place to another within the city, without engaging any extra charges.
Fabrento – Target Market Size
Major cities such as Delhi, Mumbai, and Bengaluru etc. have witnessed a surge in furniture renting. Researches state that about 65% of India’s population is between the age of 18-35. Out of these, 150 million people live on rent in the Tier 1 and Tier 2 cities of the country and they are turning more towards furniture renting.
“We expect that with the increasing urbanization, rising trend of nuclear families, and expanding working population, Fabrento will continue to witness demands.”, says Sidhant Lamba.
This demand is expected to rise in future as the furniture rental market is growing at a robust rate over the period of 2017 to 2024. In India alone this market has been calculated to be about $800-850 Million. A PricewaterhouseCoopers report shows that the rental market will touch $335 billion by 2025 globally.
Fabrento – Startup Launch
Lamba came across the idea when a friend very easily rented furniture helping his brother set up home in New York. Of course furniture has been rented for events and in an unstructured way for many years in India but to be able to develop a tech platform serving as a virtual store seemed very appealing.
“As an interior designer who wanted to dabble in a tech space this seemed like a great fit.”, added Sidhant.
The journey of ideating and designing involved hours and days and months of research of the kind of brand he wanted Fabrento to be and what they wanted to be perceived as.
Designing is the part Sidhant loves whether it’s interiors or graphics. He is blessed to have an incredible team who understand our vision and help rectify it when anyone in the team is going off track.
Initial people they spoke to were bankers- very important as they have to believe in the vision for if one were to borrow money. Then millennials through surveys, and met with industrialists in ranging fields with vast experiences to pick their mind about how to set Fabrento off the ground.
It is true that there are a few furniture renting service providers in the market. However, what makes Fabrento unique and ahead of the race is the feature of customizing office furniture to rent to match their décor and style. This special service of personalizing their products to meet the rising demands of the clients has been a feature that no other rental furniture company has undertaken to date.
Fabrento’s Croisees Study Table
Fabrento has now partnered up with co-living establishments in order to provide the most comfortable, functional and stylish furniture for the students and young professionals.
Alongside Fabrento has one of the largest collection of beds which is essentially the most important part of your home as you spend almost half your life in your bedroom.
From a business point of view, Fabrento manufactures most of their furniture in their sister companies plants on their specifications. So, remodeling and renovating it to new for the next clients in easier for them as compared to the peers.
Fabrento – Name, Tagline and Logo
Fabrento just poses the two words ‘fabulous’ and ‘renting’. This name has been selected to send out the message that this company is ready to provide their customers fabulous furniture at fabulous prices.
Fabrento Logo
It is important for them to see that their consumers rent their dream furniture and décor without burning a hole in their pocket. Added benefit is that it’s easy to write, easy to pronounce and easier to remember.
Fabrento create and design most of their furniture by their teams and in the factories of continental. This is to make sure that the customer gets high end products which then can be refurbished and altered as per the demand in the next cycle in their own repair centers.
This flexibility makes their rented furniture last longer than the rest. The economic inflation works in their favor as it creates more market for rentals. Customers can also swap their furniture according to their need and taste.
Fabrento – User Acquisition and Growth
It took them a long time to devise a marketing strategy. Fabrento as a company believe in the correct spend and not unnecessary spend as it’s easy to get into a rut of brand building exercise which can lead to incorrect and unpalatable spends.
They use a combination of digital marketing on google, social media marketing on Facebook along with maintaining hygienic social media presence for user acquisition. Forming healthy and strategic alliances are key in marketing and mutually beneficial marketing with different publications is a must.
Through media coverage, Fabrento has started to spread the news of the company and the blog Fabrento News. Prestigious newspapers such as Economic Times, The Quint, Indian Express, Business Standard, The Hindu and many more has taken up the story of Fabrento and has spread awareness about their products, events and services among the people. They also have an excellent social and digital media outreach plan which helps them spread awareness and brings large orders of homes.
The growth rate is reflecting the success, with Fabrento’s revenues growing at the rate of 2.5 to 3 times on YOY growth scale.
Fabrento – Startup Challenges
One major challenge in the field of furniture renting is really the lack of awareness. Fabrento wants to spread more awareness among the masses to let them know the wonderful option of renting furniture. They no longer have to shell out big bucks and buy their favorite piece of home décor.
Fabrento’s initial investments were INR 15 crores. They had a major economic support by their sister groups and also had the assets structure to support the start up.
Fabrento – Advisors and Mentors
Mr. Sanjiv Lamba – The founder’s father and Kavi Ghei who is an illustrious investor in many different fields of business are the advisor of Fabrento. Alongside Mr. Aditya Gupta who is an investor and owner of Gems capital investing in many start ups is also mentoring the startup.
Fabrento – Future Plans
They are hoping to reach new milestones in the future. They definitely want to add more cities such as Hyderabad and Chennai and want to create a presence in Gujarat. Additionally they want to continue collaborating with different businesses and establishments who are in want of their products.
They have also launched Fabevents in Delhi and Punjab. This is rental of furniture and accessories for the the evergreen wedding market and celebratory events. Alongside they have created furniture for corporate events for businesses and want to expand this segment to other places in India. They want to concentrate on small offices which they can customize too.
Fabrento – FAQ’s
What is the minimum period of subscription?
The minimum period of subscription is 3 months. You can also opt for 6, 9, or 12 months of tenure.
When should I pay the rent? What if I get delayed in the process?
You are required to pay the monthly rent before the 5th of every month. The first month’s rent is adjusted according to the date of delivery. After the due date, you’ll be charged a 1.5% interest rate until the monthly rental is paid.
What are the payment methods available for paying the deposit and rent?
The deposit is to be paid online while booking your subscription. This deposit will be refunded if you cancel your order before 2 days of the delivery or after your rental tenure ends. For monthly rentals, Fabrento will send you an invoice with a payment link on your registered email id. Payment can be made via net banking, credit/debit card.
What extra benefits can I avail for renting the furniture for a longer time period?
The company aims at making its customers happy with its service. You can avail offers for your rental subscription by calling on 01139585883 with the companies customer experience team.
Can I pay upfront for my rental tenure?
Yes, you can. Additionally, you will be getting an extra discount upon paying upfront for your subscription. Just write to support@fabrento.com or call on 011 39585883. They’re happy to serve you.
Fabrento – Conclusion
Fabrento offers services for both businesses and Individual Customers. The company is aiming at creating a dream home into a reality in just one click on your phone. It provides services that have access to state-of-art home furniture, office furniture, home appliances & accessories for rent at affordable rental prices with free delivery, setup & installation. The company is funded by Continental Group which is a leading player of turnkey interior & furnishing solutions with over 60 years of experience in the country. The strength of Fabrento is it has the widest range of products which its customer can choose to rent. The company is largely focused on providing its users the finest quality, customized solutions, and a good experience to its customers.
Company Profile is an initiative by StartupTalky to publish verifiedinformation ondifferent startups and organizations. The content in this post has been approved by the organization it is based on.
AirOk is an IIT Madras incubated startup incorporated on April 23, 2015. AirOk was launched with a vision to provide a one-stop solution for any air quality related problems. The company designs and develops cost-effective and efficient green technologies for ambient and indoor air quality management in small/medium scale industrial environment, urban built environment and waste management facilities.
Read this article to know more about AirOk Company Profile, its founder, revenue, funding, wiki, competitors, business model, products, and startup challenges.
AirOk Technologies Pvt. Ltd. is focused on addressing the issue of rising levels of air pollution with innovative solutions in air purifiers, filters, face masks, purifying bags etc. The company specializes in providing customized solutions for both residential as well as commercial set ups, including data centers. AirOk is Headquartered in Delhi, India.
Their flagship solution is EGAPA, a patented filter technology that efficiently reduces high levels of CO2, VOCs and other toxic chemicals, thereby providing a comprehensive indoor air quality solution. Besides providing innovative solutions, the company is also focused on unique designs of the products to enhance user experience and align with today’s design sense of homes and offices.
AirOk – Founders & Team
AirOk Founders & Team
V Deekshith Vara Prasad, Yasa Pavan Reddy and V S Krishna are the co-founders of AirOk Tech. Pvt. Ltd. that manufactures smart air purifier and the company is focused on addressing the issue of rising levels of air pollution.
V Deekshith Vara Prasad, Director & CEO
Deekshith is a BTech graduate in Civil Engineering at IIT Madras. Deekshith Vara Prasad has worked on air pollution since he undertook the project at his college. Deekshith worked as a project associate at IIT Madras for about a year after his graduation, during which he worked with different companies like Hyundai to assess indoor air quality. He also worked in various Indo-German projects at IIT Madras.
Yasa Pavan Reddy, Director & CTO
Pavan is a MS graduate of IIT Madras who has done his M.S by research in environmental engineering with his thesis on the application of low-cost sensors for air quality monitoring. He also has experience in various air quality, water quality and waste management projects. Yasa Pavan Reddy has 4 research publications in different international conferences.
V S Krishna, Director & COO
Krishna is a MTech graduate from the Civil Engineering at IIT Madras, V S Krishna has worked on the design of Control technologies for Industrial emissions. He has experience in Product Designing and fluid Modelling with Computational Fluid Dynamics. He has done various projects on Indoor and Ambient Air Quality testing.
AirOk has designed and developed a revolutionary combination of Air purifiers with high efficiency and performance, equipped with unique design and patented filter technology.
EGAPA Microbes Suitable for hospitals and other healthcare units, this does not just trap harmful bacteria, but kills them. Available in an affordable range, it is a good alternative for tier 2 hospitals.
EGAPA Fumes The filter is designed to remove contaminants and other sources of air pollution. It further eliminates the downtime by removing corrosive gases through the process of adsorption and chemisorption.
AirOk Breathe Safe Face mask N 99 + ANBC (Anti Nicotine Bacterial Control) AirOk Breathe safe face masks come with 5-layered fabric, which includes a charcoal layer, protecting from gaseous and other toxic pollutants. This mask not only captures the particulate matter but can also protect from pollutants, including PM 2.5, automobile gases and dust. The fabric of the mask comprises two components – spun bond polypropylene and melt blown polypropylene, thereby providing a non-woven web. Due to smaller fibers and larger surface area taken up by them, it has excellent wicking and barrier properties. So together, they can create a strong product that can also offer a barrier to fluids and particles.
AirOk Natural These are 0dour removal bags for your small indoor spaces, helping you maintain a fresh environment. AirOk Natural odour removal bags go well with your washrooms, car cabins, shoe racks and closets, maintaining an odour-free environment. They are fragrance free, non-toxic and can be used for up to three years.
While undertaking a project at IIT Madras, AirOk founder Deekshith Vara Prasad did a survey on different Indoor air quality solutions. He identified gaps in terms of existing filter technologies (HEPA) and solutions it could not provide in terms of air purification.
When he pursued his tryst for further developing the technology for a comprehensive Indoor air quality solution, he came up with EGAPA (trademark registered to AirOk) filter technology. After seeing the results of the first prototype, he was confident that he had developed something unique, which the market actually requires.
AirOk – Business Model & Revenue Model
The company does direct sales as well as sales through partners and distributors. Ensuring clean air is a service for them. It collaborates with corporate clients as clean air partner for a period of 5 years and provide solution in the form of service. AirOk has done this already with several Fortune500 companies.
One thing that clearly sets them apart from competition is their technical background. Their strength has been technology since inception and they have partnered with their customers more as a clean air consultant rather than sales company.
AirOk – Startup Challenges
AirOk was started with the vision to become a one-stop solution for any air quality related problems. The issue that they have identified is that the incumbent indoor air quality solutions are able to solve the problems just partially, by eliminating few parameters in the indoor air.
The target was to develop a comprehensive indoor air quality solution and they went on to develop unique patented filter technology for the same. During this process, they have faced challenges such as validating the technology by a third-party organization, considering that it is a first of its kind in the league. Finally, they have identified a standard test protocol to validate to the technology that has helped them get into the market.
The company raised 2 million USD from SAR group in 2017 and used the funds in product manufacturing, launching the same in various markets and future product development. Within two years after their first round of investment, they have grown multi-fold and become profitable. They are now planning to go for second round of funding in next 12 months.
AirOk – Competitors
The USP of the company is its patented filter technology EGAPA – Efficient Granular Adsorbent Particulate Arrestor. Indoor Air quality problem can’t be generalized always to PM2.5. EGAPA was developed to solve the specific problems in various indoor spaces. Each Indoor environment requires its own solution after scientifically assessing the air quality and analyzing the data.
Indoor air quality problem can’t be generalized as it’s not uniform at all places. What differentiates AirOk from competition is that they work closely with their clients as clean air consultants, by addressing their specific air quality needs rather than being a knocking salesman.
AirOk – Growth
First 1.5 years of their journey was dedicated to product development and validation, till early 2017. Once the product got third-party validation from NABL accredited lab, they started raising funds for manufacturing and initial market entry. By the end of 2017, they successfully raised 2-million-dollars funding, enabling the company launch its product in July 2018.
During the initial three months after launch, the co-founders personally conducted product demos at various office spaces in Chennai, in a bid to understand the customer needs. Based on the valuable inputs, they entered the Delhi market and there was no looking back after that.
They are near to touching one-million dollar in revenue this financial year (2020) with a 10x growth rate. The best part of their growth is that they have established themselves as a profitable entity despite launching product in a segment that already comprises almost 300 brands in India.
AirOk Technologies Pvt. Ltd. is focused on addressing the issue of rising levels of air pollution with innovative solutions in air purifiers, filters, face masks, purifying bags etc. The company specializes in providing customized solutions for both residential as well as commercial set ups, including data centers.
Who is the Founder of AirOk?
V Deekshith Vara Prasad, Yasa Pavan Reddy and V S Krishna are the co-founders of AirOk Tech. Pvt. Ltd. that manufactures smart air purifier and the company is focused on addressing the issue of rising levels of air pollution.
How does AirOk make money?
The company does direct sales as well as sales through partners and distributors. Ensuring clean air is a service for them. They collaborate with corporate clients as clean air partner for a period of 5 years and provide solution in the form of service.
How much funding has AirOk raised?
The company raised 2 million USD from SAR group in 2017and used the funds in product manufacturing, launching the same in various markets and future product development.
AirOk – Conclusion
AirOk has developed the country’s first novel, indigenous air purifier – Vistar. Powered by an EGAPA (Efficient Granular Adsorbent Particulate Arrester), Vistar can filter a variety of pollutants such as particulate matter, microbes, fungus and gaseous substances. The product’s superior technology has been validated by lab and field tests. The positive results of the lab tests done by Shriram Institute for Industrial Research, Bengaluru and field trials conducted by Sri Kanchi Kamakoti Child Trust Hospital, Chennai are a testimony to the team’s ability to develop first-in-class solutions. AirOk launched Vistar air-purifier which will have a coverage area of 550 square feet.
The concept of co-working space dates back to 1995. But it wouldn’t be wrong to say that it has gained popularity in the last decade. To make the co-working industry more sophisticated, Ritesh Malik founded Innov8 in 2016.
Innov8 is a premium coworking space provider in the country. In recent times, it has emerged as a leading brand in the coworking space standing on a strong footing in the Indian startup market space. It’s not widely known but India is the 3rd biggest startup hub in the world! This germinates the apparent need for relevant workspace in the country.
Innov8 was launched with the vision to provide the best infrastructure in town & supremely innovative design facilities to the members working in the workspace. This will lead them to work to their fullest potential while leading an equally balanced work-life with the finest and top-notch office spaces.
Website
All in all, Innov8 provides cool and sophisticated co-working spaces to facilitate the process for the startup ecosystem and the merging freelancer’s culture in the country. Since its inception, it is based on the core value of building world-class products at a superiorly value-conscious price with top-notch service. This is now the fundamental strength of this venture. The company, by and large, focuses on scaling its business model to deeply assist in integrating more verticals under the shared economy space in the country.
“At this time, Innov8 coworking space is helping startups and freelancers by providing them an ergonomically designed workspace that has exclusively been curated for better work-life.”, says the founder, Ritesh Malik.
Founders of Innov8 and team
The founder of Innov8 is Ritesh Malik. He is a doctor by profession and is a graduate of Dr. MGR Medical University in Tamil Nadu.
Ritesh Malik – Founder and CEO, Innov8 Coworking
Dr. Ritesh Malik is an Indian doctor, entrepreneur, and investor. He runs a virtual Startup Accelerator in India, currently investing in and mentoring 11 startups across various industries. He was the first investor & mentor of FIN ROBOTICS, which became the first Indian hardware product company to raise a Series A venture funding.
He did his MBBS from a rural medical college, Theni, and an internship from Ganga Ram Hospital in Delhi. His parents are doctors; his father is a pediatrician & mother is a gynecologist. They have a secondary healthcare hospital in Delhi called Radix Healthcare. He also studied for a short time at the London School of Economics and completed a semester at Harvard University.
How was Innov8 Started?
If you’re wondering how was Innov8 started, we have got you covered. All of it started while founder Ritesh was in medical school and he sort of developed a keen interest in the divine field of entrepreneurship. During his college days, Ritesh had successfully managed to attend a short Marketing Science 101 course at the prestigious London School of Economics during one of his summer breaks. That’s where he learned deeply about how Silicon Valley was booming and buzzing with startup ventures and sustainability modules every day.
It is also during this time that he foundedGuerilla Ventures in 2013 which is an angel fund. This venture has invested in more than 45 startups across various sectors including healthcare, information technology, innovation, SaaS, etc. After being a successful investor for quite a few years, Innov8 owner Ritesh Malik again felt the entrepreneurial itch! And that’s how he went on to start the startup in Delhi in January 2016.
Innov8 CEO and founder Ritesh says: “The office space was in the heart of Connaught Place in Delhi, and it was fully sold out within 30 days.”
Soon after Ritesh launched Innov8, the venture was picked up by Silicon Valley incubator Y Combinator for the 2016 batch.
“We were told we should do large centers because with small centers we will not be able to become a $1 billion revenue company. At YC, we learned that to be huge, we need to have large campuses,” said Ritesh Malik, owner of Innov8.
Followed by this event, the startup went on to set up a 500-seater campus in the IT hub of the country, Bengaluru, which also sold out in just two months. As of today, from typically 25,000-27,000 square feet co-working spaces, the company is gone further deep in the game and is now setting up 50,000 square feet spaces around the country.
Innov8 Logo
Seeing this level of the upping game, it wouldn’t come as any surprise to us that Innov8 is now aiming to do one lakh square feet workspaces soon. They have been successful in creating a coworking space in Hyderabad for about 80,000 square feet. This was the time when established players like WeWork had already established its space in the city.
The startup has immense competition in the coworking market but the rising demand for coworking spaces always exceeds the supply of these spaces. Hence this is where they step in and conquer. Innov8 Coworking was acquired by OYO for $30 million on Mar 15, 2019.
Innov8 – Business Model and Revenue Model
Innov8 typically operates on an asset-light business model which means that it leases the working spaces for up to 10 years.
“Our focus is on doing larger campuses because we feel that if we do larger campuses in a particular area, the economies of scale will kick in and we end up making more money out of it, as well as the community building factor plays along with it,” added Ritesh Mallik, the founder of Innov8.
Innov8 – Competitors
Though the competition is huge and cut-throat in the coworking space market, the company’s biggest competitors are the ventures called Awfis and 91springboard.
The funding amount of Innov8 lies at $4 million. In 2018, it raised its pre-Series A round of funding for $4 million led by the Credence Family Office. Also, the existing investors participated in this funding round.
The company is backed by high profile angel investors including Vijay Shekhar Sharma, Founder, Paytm; Rajan Anandan, Head, Google India; Anand Chandrasekaran, Global Director of Platform and Product Partnerships, Facebook; and Girish Mathrubootham, Founder and CEO of Freshworks, among others.
Innov8 Coworking was acquired by OYO for $30 million on Mar 15, 2019.
Innov8 – Growth
Operates in more than 13 cities across India
Has an overall capacity of 6,000 seats
Has a wide network of more than 190 clients
Its clients include RBL Bank, food delivery major Swiggy and Vice Media to only name a few
Its centers are built with facilities like nap rooms, rooftops, recreation facilities, refreshments, and printing services
Has approximately 95% occupancy across all centers
Innov8 – Future Plans
“We have almost 95% occupancy across all our centers, which is one of the foremost markers of our success. With the domain expertise our investors bring on-board, we look forward to leveraging their support, as we build a leading platform offering collaborative space for growth and innovation in India. By the end of this year, we will have 24,000 seats, with 30-32 centers” concluded Ritesh Malik.
Shubham Kumar
