StartupTalky

Tag: E-commerce startup

  • BigBasket Success Story: How It Became India’s Leading Online Grocery Platform

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations.

    Online grocery shopping is fast gaining popularity among Indians. According to a Redseer report, India’s online grocery retail market is all set to touch $10.5 billion by 2023. A company that holds a huge share of this fast-growing market is BigBasket.

    Founded in 2011 by the dot-com bubble survivors V.S. Sudhakar, Hari Menon, V.S. Ramesh, Vipul Parekh, and Abhinay Choudhari, Supermarket Grocery Supplies Pvt. Ltd., trading as BigBasket, became a household name soon after it came into existence.

    Headquartered in Bengaluru, BigBasket is currently known as one of India’s largest online grocers and offers an impressive selection of products from over 1,000 brands, delighting over 6 million satisfied customers.

    In May 2021, Tata Group became the BigBasket’s owner by acquiring a majority stake of 64% in the company. Tata Sons has acquired a majority stake in BigBasket, putting the Indian conglomerate in a direct race with e-commerce players Amazon, Walmart, Flipkart, and Reliance Industries. The stake was bought by Tata Digital Limited, a unit of Tata Sons.

    In this article, you can find detailed information about BigBasket, including the company’s founders, history and journey, business model, revenue, funding, acquisitions, and more.

    BigBasket Company Details

    Startup Name BigBasket
    Headquarter Bengaluru, Karnataka, India
    Industry E-commerce, Grocery, Grocery Delivery
    Founders V.S. Sudhakar, Hari Menon, V.S. Ramesh, Vipul Parekh, Abhinay Choudhari
    Founded 2011
    Valuation $3.2 billion
    Parent Company Tata Group
    Website bigbasket.com

    About BigBasket
    BigBasket – Founders and Team
    BigBasket – Startup Story | How BigBasket Started?
    BigBasket – Name, Tagline, and Logo
    BigBasket – Business and Revenue Model
    BigBasket – Startup Challenges
    BigBasket – Funding and Investors
    BigBasket – Acquisitions
    BigBasket – Growth and Revenue
    BigBasket – Partnerships
    BigBasket – Awards and Recognitions
    BigBasket – Competitors
    BigBasket – Future Plans

    The Rise of BigBasket

    Big Basket Company Details
    The Rise and Journey of BigBasket

    About BigBasket

    BigBasket is into delivering everyday cooking essentials like ghee (clarified butter), diced coconut, fragrant basmati rice, and more, amounting to a total of over 40,000 items, along with other household products ranging from bread to laundry detergents for the customers to shop from. The company gets all of them delivered to their doorsteps. The target motive of the company is to enable the ease of grocery shopping online to avoid traffic and the drudgery of supermarket visits.

    To explore new opportunities, the company has also launched 3 new businesses – bb Daily, bb Instant, and bbnow.

    bb Daily is a subscription-based service that allows customers to order milk and fresh groceries. With this platform, the customers have to place the order before 10 PM, and they eventually get the goods delivered between 5 AM – 7 AM the next day.

    bb Instant is BigBasket’s unmanned vending machine that is mostly available in corporate offices, tech parks, and apartment buildings in Tier I cities.

    bbnow, the rapid grocery delivery service by BigBasket, allows you to order daily essentials like fruits, vegetables, cooking necessities, and household items and have them delivered to your doorstep within just 15-30 minutes.

    BigBasket has also launched Fresho stores, which is currently serving as the first offline retail store of BigBasket that has already been opened at Basaveshwar Nagar in Bangalore. These BigBasket stores are technology-driven, self-service stores for customers.

    BigBasket – Founders and Team

    BigBasket was founded by V.S. Sudhakar, Hari Menon, V.S. Ramesh, Vipul Parekh, and Abhinay Choudhari in 2011. Prior to BigBasket, the founders also founded Fabmart.com, an online platform that sold books, toys, and groceries in the year 1999. Fabmart was sold to a grocery chain in 2006.

    Big Basket Founders
    Big Basket Founders

    V.S. Sudhakar

    BigBasket Co-founder V S Sudhakar was the CEO of Planetasia. He has vast experience working in the IT sector.

    Hari Menon

    BigBasket CEO Hari Menon comes with vast experience in diverse fields. Prior to Big Basket, Menon was the CEO of Indiaskills, the Vocational Education joint venture of Manipal Group with City & Guilds, UK. An alumnus of BITS Pilani, Hari Menon also worked as the Country Head at Planetasia, one of India’s first Internet services businesses. Hari also held top positions with IT majors like Wipro Infotech.

    V.S. Ramesh

    V.S. Ramesh is the Head of Logistics & Supply Chain at BigBasket. An Electronics Engineering graduate from Karnataka University, V.S. Ramesh has over 21 years of experience in the Indian Navy handling Operations and Logistics. Ramesh is an Electronics Engineer, who earlier co-founded Fabmall.

    Vipul Parekh

    Vipul Parekh is the Head of Finance & Marketing at BigBasket. Vipul is an alumnus of IIM Bangalore and worked with a range of companies holding key leadership positions including Wipro Limited and Trinethra Super Retail Ltd. He also worked with Peepul Capital Advisors Pvt Ltd., a leading Private Equity Fund as an Investment Director. Parekh also co-founded Fabmall before co-founding BigBasket.

    Abhinay Choudhari

    Abhinay Choudhari was the Head of New Initiatives at BigBasket along with being a Co-founder. Abhinay is an IIM Ahmedabad alumnus. Besides working with leading IT companies like iGATE & Infosys, Abhinay also founded Stylecountry.com, one of India’s first online fashion retail stores. Stylecountry.com had to be closed down as it did not turn out to be profitable.

    Abhinay Choudhari has taken a silent exit from BigBasket on August 5, 2021. Soon after Tata acquired BigBasket in May 2021, Abhinay decided not to continue working in the same firm, which he finally managed to do in August. As a parting note to his employees, Choudhari has mentioned that he left BigBasket only to build another company from scratch due to “the start-up itch” that has been growing in him for nine years. Choudhari hinted to “solve another equally painful chore for many Indian households” in the form of a new business that he will found. Next, he will be looking forward to an online laundry business, as per reports.

    TN Hari, who served as the Chief Human Resources Officer (CHRO) at BigBasket for 7 long years, has let people know that he has decided to do something different via his Linkedin handle. TN Hari, in his career with BB, which has now found a new, safe home with the Tata Group acquisition, has already spent 20 years in the Indian startup ecosystem. During these years, he boasts of wearing many different hats as an Angel Investor, Advisor to other VC Firms, Mentor at Startup Accelerators, Sounding Board to Founders, Author, and Columnist. Hari has also revealed that he has been a part of 5 startups to date, 3 out of which have already turned into unicorns. TN Hari has also been identified by Linkedin as one of the top voices of India for 3 consecutive years. Establishing the Artha School of Entrepreneurship is the new goal of this top executive of BB. The mission of Artha would be to accelerate the “journeys of the entrepreneurs in scaling their ventures and contributing to economic and social prosperity of their communities.”

    RainCan, which was originally a daily essential subscription-based startup, later acquired by Big Basket in 2018, was eventually rebranded as BBDaily.

    BigBasket currently boasts of being a 5000+ strong company.

    BigBasket – Startup Story | How BigBasket Started?

    All of this began when the BigBasket founders decided to exploit the experience they got after the massive failure of the dot com bubble. Hence, they decided to create a unique website that was never done before. All the founders of Big Basket had garnered relevant experiences in eCommerce when they created Fabmart.com.

    Fabmart.com was an online platform that sold books, toys, and groceries in the year 1999. Back then, only within a few months, they realized that not just our country but the whole world was not ready to take this buzz of digitization. In the year 2006, Fabmart was merged with a brick-and-mortar grocery chain and the founders ended up selling their startup for a lump sum amount.

    Then came the golden year of 2011, when the team reunited and started re-evaluating the idea of again coming up with something new and exciting. Despite all the criticism they had received back in 1999, they stood very strong on the fact that the time to do something that’d put them on the map was then. In 2011, the smartphone market was booming and anything and everything was available except groceries, of course, and that right then was their Eureka moment.

    BigBasket used to fulfill its orders by purchasing products from Metro Cash and Carry stores, prior to setting up its first warehouse.

    “We had people in the Metro stores, literally operating that as our warehouse” says Hari Menon, Co-founder & CEO of BigBasket.

    BigBasket Logo
    BigBasket Logo

    Supermarket Grocery Supplies Pvt. Ltd., trades as “BigBasket,” the name of which is drawn from the idea of shopping baskets, which the company extends to their customers online.

    The recent tagline of the brand reflects “Har Din Sasta.”

    BigBasket – Business and Revenue Model

    BigBasket’s private label business is driven by lower prices and higher margins. Roughly 35% of the revenue comes from private labels. The aim here is to fill the gap in distinct categories like organic food, and high-end consumer products, to name a few. Also, the company offers a lower price point for staples and fruits and vegetables. They also provide idli/dosa batter on their online platform, which is very rare and does not have a lot of competition.

    Moreover, on the B2B side, BigBasket serves its private label to about a thousand Kirana stores, huge corporates, and HoReCa (hotels, restaurants, cafes). Regarding Big Basket’s Business Model, Big Basket follows both the ‘inventory model’ and ‘the hyper-local model’.

    Under the inventory model, the company buys products from leading suppliers like P&G, HUL, mills, farmers, etc., stores the products in warehouses, and supplies the same to the customers on order. In the case of perishable goods, BigBasket further has tie-ups with local farmers and suppliers from whom it procures the goods as per orders and supplies the same to the customers.

    Under the ‘hyper-local model’, BigBasket has a tie-up with 2000+ grocery stores across India to deliver products within one hour from the neighborhood.

    With the opening of its physical store, Fresho, BigBasket is also a step ahead in the physical grocery space, which is soon expected to be a revenue generator for the company.

    BigBasket – Startup Challenges

    One of the main challenges of any startup in India is getting the customers to try the service first since the resistance level is really high. This is followed by retaining these consumers despite all the other factors in the market like competitors, local vendors, and buying habits, which were there for BigBasket too.

    Also, since it was one of a kind startup dealing with groceries, which was never the case before, it took a while for the consumers to place trust in a brand like BigBasket and start using its services.

    Data Breach Issues

    Online grocery store BigBasket faced a massive data breach in November 2020 as the company had allegedly leaked the data of over 2 crore users on the dark web. BigBasket, funded by Jack Ma-owned Alibaba Group, Mirae Asset-Naver Asia Growth Fund, and CDC group has filed a complaint in this regard with Cyber Crime Cell in Bengaluru.

    According to media reports, Cyble, a cyber intelligence firm, informed that the grocery e-commerce platform BigBasket leaked data including names, email IDs, password hashes, contact numbers, addresses, etc, on the dark web. Also, Cyble informed that a hacker had put the data on sale for over Rs 30 lakh.

    Reacting to this, BigBasket said: “A few days ago, we learned about a potential data breach at Bigbasket and are evaluating the extent of the breach and authenticity of the claim in consultation with cybersecurity experts and finding immediate ways to contain it. We have also lodged a complaint with the Cyber Crime Cell in Bengaluru and intend to pursue this vigorously to bring the culprits to book.”

    Bengaluru-based BigBasket also ensured that the confidentiality and security of customers are their priority and it does not store any financial data (including credit card numbers) etc and is positive that this financial data is secure.

    “The only customer data that we maintain are email IDs, phone numbers, order details, and addresses so these are the details that could potentially have been accessed. We have a robust information security framework that employs best-in-class resources and technologies to manage our information. We will continue to proactively engage with best-in-class information security experts to strengthen this further,” the statement by BigBasket read.

    Cyble also claimed that the breach may have occurred on October 30, 2020, and it has already informed Bigbasket about it.

    Watasale – India’s First Cashier-free Grocery Store launched in Kerala
    Imagine a store where you can just enter, get your groceries and other items,
    pack your stuff and walk out of the store without having to wait in a queue for
    payment. India’s first cashier-less store – Watasale opened up by a Kochi-based
    startup Nayasale Retail Pvt Ltd in Kochi, Kerala in 2018. You …
    StartupTalkyShubham Kumar

    BigBasket – Funding and Investors

    BigBasket has raised a total of $1.5 billion in funding over 20 rounds. The latest funding for the company was raised on December 21, 2022, when BigBasket raised $200 million from its majority stakeholder, Tata Digital. This funding round raised BigBasker’s valuation to $3.2 billion.

    Here are the details of the latest funding raised by Big Basket:

    Date Stage Amount Investors
    December 21, 2022 Venture Round $200 million Tata Digital
    June 2, 2022 Venture Round $45 million Supermarket Grocery Supplies
    April 13, 2022 Venture Round $121 million Supermarket Grocery Supplies
    April 15, 2020 Debt Financing $51.8 million Alibaba Group
    April 9, 2020 Venture Round $60 million Alibaba Group
    July 2019 Debt Financing $14 million Trifecta Capital
    May 2019 Series F $150 million Mirae Asset-Naver Asia Growth Fund
    January 2019 Venture Round – Growth Story
    February 2018 Series E $300 million Alibaba Group
    October 25, 2017 Venture Round $4.3 million Helion Ventures Partners
    October 10, 2017 Debt Financing $838.1K Trifecta Capital Advisors
    October 1, 2017 Venture Round $5 million Bessemer Venture Partners
    September 2017 Series E $280 million Alibaba Group, Paytm Mall
    March 2017 Debt Financing $6.9 million Trifecta Capital Advisors
    March 2016 Series D $150 million Abraaj Group
    August 2015 Series C $50 million Bessemer Venture Partners
    September 2014 Series B $33 million Helion Venture Partners
    April 2014 Bridge Round $3 million Singapore-based private investor
    March 2012 Series A $10 million Ascent Capital

    BigBasket – Acquisitions

    Big Basket has made 6 acquisitions to date. Their most recent acquisition was of Agrima Infotech, which the company acquired on February 19, 2022. The Tata-owned online grocery delivery platform has acquired the enterprise business segment of the Kerala-based deep tech company. This deal would allow the company to implement the unique computer vision technology platform, Psyight, at the self-checkout counters of the retail stores of BigBasket. Psyight behaves as a food recognition platform that is powered by the all-new computer vision technology to differentiate raw, cooked, and packaged food items, which will help its parent ahead.

    DailyNinja was last acquired startup by BigBasket and the deal was materialized on Mar 24, 2020.

    In June 2015, the company acquired ‘Delyver‘, an online platform that connects offline retailers with customers in a neighborhood. In October 2018, Big Basket acquired ‘Raincan‘ a subscription-based service provider for morning and breakfast essentials, headquartered in Pune. In October 2018, Big Basket also acquired ‘KWIK24‘ a company that manufactures and designs smart vending machines. On October 19, 2018, Big Basket announced the acquisition of the Bangalore-based startup ‘Morning Cart‘. Morning Cart is a daily essential ordering platform.

    Here are the details of the Acquisitions by BigBasket:

    Acquired Date
    Agrima Infotech February 19, 2022
    DailyNinja March 24, 2020
    Morning Cart October 19, 2018
    KWIK24 October 19, 2018
    Raincan October 18, 2018
    Delyver June 12, 2015

    BigBasket – Growth and Revenue

    Tata Digital’s acquisition of controlling stakes in BigBasket in May 2021 has played a pivotal role in fueling the company’s growth trajectory.

    BBNow

    BBNow marks a significant game plan for BigBasket’s growth strategy. Officially launched in Bengaluru, this quick-commerce service enables lightning-fast grocery deliveries to customers within 15–30 minutes, catering to the urgent needs of its existing customer base. With BBNow, BigBasket aims to further solidify its position in the e-grocery market and tap into the increasing demand for rapid and convenient grocery delivery services. The introduction of BBNow allows the company to compete more effectively with other quick-commerce players like Swiggy Instamart and Zepto, presenting exciting growth opportunities for BigBasket in the fast-paced and competitive market landscape.

    Fresho

    BigBasket launched its first physical store, “Fresho” in Bangalore, in the last week of October 2021, as confirmed via an internal company email. The mentioned store has been open to the customers of Bangalore’s Basaveshwar Nagar since October 25, 2021, according to BigBasket co-founder VS Sudhakar, who informed the same to all the employees of the company. While writing about Fresho in his email, Sudhakar described the opening of the store, which is currently operational from 8 in the morning to 9 in the night, as an “extremely key, strategic initiative.”

    BigBasket User Acquisition

    BigBasket’s mobile app is currently accessed by over 6 million customers across the country, being operational in 26+ cities in India.

    An interesting strategy that BigBasket follows to attract customers is that the company keeps into account the varied needs and different shopping habits of its customers belonging to different cities. The amount of attention the founders paid to little details put them in a competitively better position.

    The team did their planning city-wise. They increased the number of leafy greens in Mumbai, supplied a special kind of rice (called Sona Masoori) in Bangalore, and went as far as providing eight different kinds of eggplants to picky customers. All in all, the company ensured its quality was nothing short of perfection.

    Timely delivery is the essence of online shopping hence the team put a focused approach to this. They devised a model of customized software that automatically guides drivers to their destinations and helps the company achieve a near-perfect on-time rate. Late deliveries earn customers a 10% discount. Missing items are refunded at a cost that is 50% of whatever the item cost is.

    BigBasket Financials

    Bigbasket Financials FY23 FY24
    Operating Revenue INR 9468.5 crore INR 10061.9 crore
    Total Expenses INR 11284.7 crore INR 11515 crore
    Profit/Loss INR -1785 crore INR -1415 crore
    BigBasket Financials FY24
    BigBasket Financials FY24

    BigBasket’s operating revenue increased by about 6.3% from FY23 to FY24, growing from INR 9,468.5 crore to INR 10,061.9 crore. Total expenses rose by around 2%, from INR 11,284.7 crore in FY23 to INR 11,515 crore in FY24. The company’s losses decreased by roughly 20.7%, from INR 1,785 crore in FY23 to INR 1,415 crore in FY24.

    Bigbasket FY23 FY24
    EBITDA Margin -14.02% -9.39%
    Expense/₹ of Op Revenue Rs 1.19 Rs 1.14
    ROCE -51.37% -70.62%

    BigBasket’s B2C arm reported revenue from operations of INR 7,434 crore in FY23, reflecting a modest 4.8% growth compared to FY22 when the company’s revenue stood at Rs 7,095 crore.

    In FY23, BigBasket’s B2C arm witnessed an 89% surge in losses, reaching Rs 1,535 crore, compared to Rs 813 crore in FY22.

    Total expenses for the B2C arm increased by around 13% from Rs 7,929 crore in FY22 to Rs 8,998 crore in FY23. This rise in expenses was primarily attributed to higher employee benefit expenses, finance costs, and other miscellaneous expenses. Specifically, Innovative Retail spent Rs 916 crore on employee benefits in FY23, representing a 24% increase compared to Rs 739 crore spent in FY22.

    BigBasket – Partnerships

    Some of the BigBasket partnerships include:

    • Bigbasket partnered with Uber on April 3, 2020, where Uber’s driver-partners sought an association with the former to help the company deliver everyday essentials to its customers and others during the pandemic onslaught. Bengaluru, Hyderabad, Chandigarh, and Noida were the first four cities to witness the same.
    • BigBasket partnered with Rajasthan Royals on September 16, 2020, who was declared as the official partner of the IPL team for the 2020 edition of the Indian Premier League.
    • BigBasket also became a partner with the New Zealand Trade and Enterprise on October 19, 2021, to deliver food products and groceries in India.

    BigBasket – Awards and Recognitions

    Among the major awards and recognitions that BigBasket won are:

    • BigBasket is recognized as one of the ‘Top 50 India’s Best Companies To Work For – 2023’ by Great Place to Work® India.
    • BigBasket ranked in the ‘Top 3 Best Places to Work’ in E-commerce and ‘India’s Best Workplaces in Retail’ for the third consecutive year in 2023.
    • It was declared the ‘Retail and eCommerce App of the Year’ at YourStory’s AWS Mobility Awards in 2017.
    • Owler has conferred upon BigBasket CEO Hari Menon the Top Rated CEO Award in 2017.
    • The company was placed 2nd at the Global E-Commerce Award ceremony hosted by Ecommerce Europe in Barcelona.
    • BigBasket Co-founder Abhinay Choudhari was awarded the IIMA Alumni Young Achievers’ Award.

    BigBasket – Competitors

    Despite growing at an increasing rate, BigBasket faces cut-throat competition in the market. Some of the major competitors of BigBasket are:

    Though these players are acquiring strong market standing with time, the company tends to stand fit and fine and win the market with its large and ever-increasing consumer base. BigBasket is now doubly strong under the management of Tata.

    BigBasket – Future Plans

    As per reports, BigBasket plans to raise $80-100 million in debt and equity to drive business ambitions.

    BigBasket has strong plans of retaining its post as the largest grocery delivery platform in India. So, the plan is to set up warehouses in all 26 operating cities of India to bring down the delivery time to 3 hours.

    Big Basket has launched Fresho stores, and opened the first of their kind in Bengaluru, thereby entering the offline retail market. According to BigBasket’s co-founder and CEO Hari Menon, the goal is to achieve Rs 12,000 crore in sales by 2026 through 800 Fresho stores spread across 10 tier-1 cities.

    As part of its future plans, Tata-owned BigBasket is considering launching an initial public offering (IPO) by 2025.

    FAQs

    What is BigBasket?

    BigBasket is an Indian online grocery delivery service founded in 2011 and headquartered in Bangalore, offering a wide range of products delivered to customers’ doorsteps.

    Who is BigBasket’s owner?

    BigBasket is owned by the Tata Group.

    Who are BigBasket’s founders?

    BigBasket was founded by V.S. Sudhakar, Hari Menon, V.S. Ramesh, Vipul Parekh, and Abhinay Choudhari.

    What is bigbasket bbnow?

    bbnow, the rapid grocery delivery service by BigBasket, allows you to order daily essentials like fruits, vegetables, cooking necessities, and household items and have them delivered to your doorstep within just 15–30 minutes.

    What is Bigbasket Wallet?

    The Bigbasket Wallet is a pre-paid credit account that is associated with your Bigbasket account. This prepaid account allows you to pay a lump sum amount once to Bigbasket and then shop multiple times without having to pay each time.

  • Excess2Sell Success Story – How it is Easing the Selling of the Excess Inventory?

    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 Excess2Sell.

    Verticals and domains dealing with the supply chain—where manufacturers, vendors, distributors, wholesalers, dealers, and resellers are involved— tend to have some unsold, overstock, and aging inventories left over. As per industry estimates, at least 20-30% of goods worth $500 billion – $600 billion in the Indian retail segment, end up as overstock. Excess2Sell is making the most out of this unsold inventory valued at approximately $30 billion.

    Excess2sell.com is an e-commerce platform where vendors, manufacturers, dealers, and wholesalers alike can put up their excess inventory for sale. The catalog of offerings includes, but is not restricted to, electronics, computers, industrial Goods, LED electrical, and home appliances, among others.

    Excess2Sell has grown at 150% CAGR since 2016. It has liquidated excess inventory of over Rs 2.23 billion (over $29 million) across India. With a revenue target of Rs 2000 crore ($267 Million) by 2023, Excess2sell is rapidly redefining the concept of selling excess inventory in India.

    StartupTalky interviewed Excess2Sell CEO Rajan Sharma to know the Success Story of Excess2Sell and also get a glance at the Excess2Sell Business Model, Funding, Revenue, How it started, competitors & more…

    Excess2Sell – Company Highlights

    Startup Name Excess2Sell
    Headquarters Mumbai
    Founders Rajan Sharma, Anant Chaturvedi, Navinder Chauhan
    Sector E-commerce
    Founded 2016
    Total Funding ~ $1 Million (Angel Funding on March 2020)
    Revenue / Turnover INR 100 crore (Third quarter of FY 2019-20)
    Website excess2sell.com
    Parent Organization Checkers Technology India Pvt. Ltd.

    About Excess2Sell
    Excess2Sell – Founders And Team
    Excess2Sell – Startup Story | How It Began?
    Excess2Sell – Vision And Mission
    Excess2Sell – Name And Logo
    Excess2Sell – Business Model And Revenue Model
    Excess2Sell – Funding And Investors
    Excess2Sell – Startup Challenges
    Excess2Sell – Competitors
    Excess2Sell – User Acquisition
    Excess2Sell – Growth and Revenue
    Excess2Sell – Future Plans

    About Excess2Sell

    Excess2sell.com is a comprehensive B2B platform marketplace for excess inventory management across verticals such as computer hardware and software, telecom, security, home appliances, apparels, lighting, kitchen items, etc.

    The platform acts as a bridge between the seller who is stuck with unsold inventory and the buyer who may be keen to stock or has a high demand for a given product in their domain. It provides sellers the opportunity to liquidate anywhere in India and helps them transact in a confidential, anonymous, and neutral manner.

    Mumbai Based Startups | Entrepreneurs & Startups in Mumbai
    Mumbai is the financial hub of India and among the wealthiest city globally.Headquarters of most financial institutions like the Bombay Stock Exchange, RBI,National Stock Exchange, and the Mint are located in Mumbai. Even the HQs thegiant business groups like Tata Group, Aditya Birla Group, Essel…
    StartupTalkyLakshya Singh

    Excess2Sell – Founders And Team

    Rajan Sharma, Anant Chaturvedi and Navinder Chauhan are the founders of Excess2Sell. While Rajan Sharma is the CEO of the startup, Anant Chaturvedi, and Navinder Chauhan are the Directors of Excess2Sell.

    Anant and Rajan have been working together since 2003. They were at D-LINK (India) and then at its subsidiary GIGABYTE TECHNOLOGY till 2011. Post this, they were a part of Smartlink Networks wherein Navinder joined them.

    Rajan Sharma

    Founder/Owner excess2sell
    Rajan Sharma – Founder and CEO of Excess2Sell. 

    Rajan Sharma has been the Founder-CEO of Excess2Sell. He was previously associated with Priya Ltd. / PEAC SINGAPORE, in which Rajan closely worked with Intel, LG, WDD. It was a time when the PC market was in its nascent stage. D-LINK and GIGABYTE were two other companies in which Rajan spent a major part of his professional tenure.

    Anant Chaturvedi

    Anant Chaturvedi – Founder-Director at Excess2Sell

    Anant Chaturvedi is a Director of Excess2Sell. Chaturvedi has previously served more than one company and has taken up key leadership positions in them. He served as the Asst Manager Channels at Intex Technologies; Regional Manager – Channel Sales at DLink India; Sales and Distribution Head of India at Gigabyte. He also worked with Smartlink Network Systems and iRevo Multimedia as DGM – Sales & Distribution and Sales Head respectively.

    Navinder Chauhan – Founder and Director at Excess2Sell

    Navinder Chauhan is another Founder-Director of Excess2Sell. Chauhan has a Bachelor’s degree in Science with a majors in Botany and Chemistry from Bundelkhand University. and then obtained an MBA in Marketing from the same university. Chauhan also has a work experience at DLink and iRevo, where he served as the Marketing Head and the Vice President of Marketing. Apart from that, Chauhan also worked with many other companies like Aditya Infotech, Rashi Peripherals, Panduit International Corp., Smartlink Network Systems, and Cisco Systems, where he held several managerial positions in Marketing. CyberMedia was the company Chauhan started his career with, where he served as a Senior Marketing Executive.  

    Amit Kundra, who heads Excess2Sell’s tech division, has been supporting the trio in reviewing the company’s progress. His experience in a hyperlocal vertical at a Sequoia-backed start-up was immensely helpful. He formally joined Excess2Sell in 2018 and lent hand in designing and developing the mobile app. It is Rajan, Amit, and Anant’s cumulative cross-functional experience in product management, business management, brand building, and marketing, that has been pivotal to the success Excess2Sell is enjoying today.

    List of Best Books for Entrepreneurs in 2020
    Books are distinct from visceral forms of entertainment for various reasons.They can be a game-changer, often for the greater good. Entrepreneurs must readbooks [https://www.selfdevelopmentsecrets.com/how-to-get-into-reading/] whichare enriched with words of wisdom put forth by experienced entrep…
    StartupTalkyAshwini

    Excess2Sell – Startup Story | How It Began?

    The idea behind Excess2Sell was conceived sometime at the end of 2015. It was to find a way and means to deal with inventory that remained unsold. Prior to founding the company, Rajan Sharma faced a force majeure situation in his last professional stint. It had to do with the product inventory at distribution points which in turn affected an entire location. The ageing inventory of stockists led to blocked capital and a slow turnaround time for sales. This was a problem faced by almost every stockist and wholesaler in the country and it was an opportunity that called for remediation.

    Excess2Sell was then conceived as a solution to overcome this situation. It was launched four years ago to tackle the issue that plagued the large Indian B2B segment: unsold and unwanted inventory.

    Post ideation and finalizing the business model, Rajan Sharma took almost 6 months to develop the back-end and front-end before the first transaction took place at the end of August, 2016. The team had been clear from day one about the need to build up its business through an organic approach. Excess2Sell focused on digital marketing and electronic marketing to reach out to its B2B database. This helped the venture kick start and scale up its transactions.

    Excess2Sell – Vision And Mission

    Excess2Sell wants to assist retailers and wholesalers across trade networks and channels in optimizing costs through excess inventory management using its portal, and provide an extensive store for buyers across India.

    The venture’s long-term vision is to provide a proven universal solution to businesses for liquidating unsold inventories and become a leader in the segment with its current business model.

    The core belief and ethos, which drives us is hard work, honesty and ethics.

    The Rise Of E-commerce Industry In India
    With growing internet penetration and disposable incomes, people of India areexperiencing a massive change in their shopping habits. People from all frontsof life are using their smartphones to buy products and items. With the bigthree— Amazon, Walmart, and Alibaba—entering the E-Commerce sector …
    StartupTalkyDevashish Shrivastava

    Excess2Sell – Name And Logo

    The team wanted a name that would instantly signify its service and Excess2Sell seemed just right for accomplishing the objective. It firmly believed that this concept would be an enabler for the current ecosystem of vendors, distributors and dealers to re-distribute inventories from locations where they would languish, to locations where there would flourish;  hence the tagline, ‘excess inventory marketplace’.

    excess2sell logo

    Excess2Sell – Business Model And Revenue Model

    The Excess2Sell platform follows a ‘zero’ inventory model where sellers upload the details of their liquidation inventory online. The portal comprises registered buyers and sellers. Once the buyer confirms the off-take and makes the payment, the inventory procurement and dispatch are done. The platform generates revenue from the sales activity of goods. Every category has a pre-determined percentage of fees that is deducted as a procurement price from sellers. The average transaction is in the range of INR 5 to 8 lacs.

    The revenue stream is being explored further with the launch of a E2S Premium Membership in 2o18 where a dedicated buyer-seller ecosystem is being built on a subscription model.

    CARS24 Company Profile – India’s Largest Used Car Marketplace
    Company Profile is an initiative by StartupTalky to publish verified informationon different startups and organizations. The content in this post has beenapproved by CARS24. Selling a car used to be a tedious task before these portals made our liveseasier. One such portal that we see Mahendra Si…
    StartupTalkyRishabh Rathi

    Excess2Sell – Funding And Investors

    Excess2Sell has raised more than $1 Million in funding to date. Below are Excess2Sell funding details –

    Date Stage Amount Investors
    May 2018 Angel undisclosed Aashish Pitale & Harinder Singh
    March 2020 Angel $1 Million Private Equity investor Gautham Madhavan

    FirstCry Success Story – Business Model | Owner | Revenue | Funding | Competitors
    Company Profile is an initiative by StartupTalky to publish verified informationon different startups and organizations. The content in this post has beenapproved by the organization it is based on. 90′s kids could have never imagined the appeal of online shopping. Nor didanyone fathom that e-co…
    StartupTalkyRishabh Rathi

    Excess2Sell – Startup Challenges

    In the initial phase, the most challenging aspect was to ensure that buyers paid in advance for their orders. It took immense goodwill in addition to the credibility of the founders and the team to gain their trust and confidence. Today, word-of-mouth publicity is the biggest factor behind Excess2Sell consistently scaling up its operations. With over INR 150 crore worth of liquidations, Excess2Sell has proved the sustainability of its business model.

    Excess2Sell – Competitors

    Of late, many B2B companies have begun building their own platforms to tap into this relatively less explored market of excess inventory liquidation which is expected to reach $700 billion by 2020. However, Excess2Sell has taken the lead as India’s largest pure B2B online marketplace for liquidating ageing and unsold assets.

    Excess2Sell has distinguished itself by creating the only tech-enabled enterprise that connects the B2B overstock market across India. It has the largest network of dealers and distributors on its online platform which are referred to as buyers and sellers.

    When Excess2Sell was conceived, the market was fragmented and largely catered to the unorganized segment. At that time, deals occurred one-on-one between sellers and buyers. As of today, there is no other universal platform-specific to ‘excess inventory liquidation’ like Excess2Sell. As mentioned earlier, one of the biggest advantages Excess2Sell offers to both sellers and buyers is confidentiality, anonymity, and neutrality in transactions.

    Amazon Success Story | Latest News | Amazon Founder CEO | Revenue | Funding
    Company Profile is an initiative by StartupTalky to publish verified informationon different startups and organizations. The content in this post has beenapproved by the organization it is based on. Online shopping has become a part of the daily life for most us today. As per Statista[https://www.statista.com/statistics/251666/number-of-digital-buyers-worldwide/…
    StartupTalkyHimaya Presthitha

    Excess2Sell – User Acquisition

    The fact that buyers and sellers transact Confidentially, Anonymously and Neutrally (CAN) has helped the platform grow from strength to strength. It is extremely critical in the company’s LoB( Line of Business) that the seller gets to offload their products anonymously and without disclosing the reason for their liquidating them. Liquidating products in the B2B space is often misconstrued as something being wrong with the product or with the demand for it, which is not at all true. It is mostly that the market, which may be in a specific geographic location and has not warmed up to it which is leading to blocking up the vendor’s operating capital. Excess2sell recognizes this pain point of the seller and hence CAN is a big plus for the user base. Excess2sell’s repeat buyer – seller rate is close to 70 per cent.

    Bewakoof Success Story – Business Model | Revenue | Founders
    Company Profile is an initiative by StartupTalky to publish verified informationon different startups and organizations. The content in this post has beenapproved by the organization it is based on. When most of the fashion portals are talking about being all chic and classy,there is one that pr…
    StartupTalkyRishabh Rathi

    Excess2Sell – Growth and Revenue

    In the last three years, excess2sell.com has liquidated over INR 150 crore worth of inventory. In 2018 alone, the company mobilized excess inventory valued at over INR 85 crores.

    The platform has a business reach of more than 200,000 B2B partners across India and the registered partner base is around 30,000 today. An average of 3+ transactions occur every day with 3,600 active buyers and sellers. Excess2Sell currently operates from Navi Mumbai and is present in New Delhi and Pune as well.

    India’s B2B business base is 50 million strong and while it is a direct supplier of goods to the country’s 14 million retailer base, its reach remains stunted. E-tailing in India grew rapidly to become a $525 billion industry because it enjoys the advantage of being in the B2C marketplace. But the B2B e-commerce market is yet to realize its full potential and what it needs right now is a solutions based tech intervention. By offering a solution to address the pain points of the otherwise tech reclusive sector, Excess2Sell has given players in the B2B segment a reason and an incentive to come aboard.

    Excess2Sell has already achieved a turnover of Rs 100 crore in the three quarters ending December 31st, 2019. Starting from a revenue base of Rs 41.58 lakhs in 2016-17, it jumped an astonishing 3000% in 2017-18 to Rs 12.9 crores. The revenue for 2018-19 clocked at Rs.70 crores, which was again over 500% jump from the previous year.

    Speaking on the achievement made by the startup, which is just 3 years old, excess2sell founder and CEO Rajan Sharma said, “We have touched the magic figure of Rs.100 crore in our third year of operations, with one quarter still to go. Also with the 24×7 NEFT transaction facility made available from December 12th last year, we expect the next quarter growth to be significantly higher than the previous three quarters. We are increasingly upbeat about our performance this year, with the economy seeing signs of a revival from the slowdown. Though its early days to talk on the impact of NEFT transactions being made available 24×7, from whatever little data we have post-December 12th, it seems to have made a small positive impact on our sales figures. This has to be studied over the next quarter to actually assess the impact of the move on the industry.”

    Excess2Sell is still working towards achieving even greater revenues in the upcoming years and has a revenue target set at Rs 2,000 crore ($267 million) by 2023.

    How to Generate Inbound Leads – 7 Simple and Inexpensive Ways
    The customers are getting smarter nowadays and they won’t fall for thetraditional methods of promoting products and boosting sales. They don’t believein the aggregated TV commercial and most importantly they won’t fall for thehoney talk of salesmen. Nowadays whenever we plan to buy any product, b…
    StartupTalkyShubham Kumar

    Excess2Sell – Future Plans

    The majority of buyers and sellers are reputed manufacturers, vendors, wholesalers, and dealers. Vendors of companies like Dell, HP, D-LINK, Intel, Acer, Apple, Motorola, and Samsung are among the authorized sellers on the Excess2Sell platform.

    Excess2Sell successfully closed FY19 with liquidation deals worth INR 70 crores and is looking to close FY20 at INR 200 crores with projected successful transactions worth INR 900 crores for FY21. Excess2Sell is also looking forward to increasing the number of its registered partners by 100% to reach 50,000.

    Our estimate of the branded packaged goods market size is $500 billion in the $2.8 trillion Indian economy. Even if we address only around half of this market and considering that we take 20 per cent of this as slow moving, that still is a $50 billion opportunity and the numbers are expected to double in six years from now.

    FAQs

    What is Excess2Sell?

    Excess2sell.com is a comprehensive B2B platform marketplace for excess inventory management across verticals such as computer hardware and software, telecom, security, home appliances, apparel, lighting, kitchen items, etc.

    Who are the founders of Excess2Sell?

    Rajan Sharma, Anant Chaturvedi, and Navinder Chauhan are the founders of Excess2Sell.

    How much is Excess2Sell revenue?

    Excess2Sell posted revenue of Rs 100 crore in the 3rd quarter of FY 2019-20. It has a target of achieving Rs 2,000 crore ($267 million) in revenues by 2023.

  • Milkbasket Success Story – Hyperlocal Grocery Delivery App

    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 Milkbasket.

    With a rising number of startups and the presence of many existing players in the industry, the customer acceptance of home delivery services is growing leaps and bounds. Living in the current era, we are surrounded by an increasing number of eCommerce platforms that offer almost everything and deliver all of these things right at our doorsteps.

    It is true that most of our daily needs are satisfied by the old and the newer players that are dominating the home delivery services, but for some of our daily needs, which are always in demand, like fresh milk, groceries, we often find a crunch, even if it is for a specific product. This is why many startups have solely dedicated their businesses to meet the growing requirements, thereby aiming to achieve a demand-supply equilibrium. One such startup that aims to take care of the fresh supply of milk and more is Milkbasket.

    Milkbasket is a subscription-based micro-delivery service that provides customers with the regular dairy necessities and household needs each morning. Within the first six months of its launch, Milkbasket claimed to have shipped 30 million orders.

    Founded by Anant Goel, Anurag Jain, Ashish Goel, and Yatish Talavdia in 2015, Milkbasket is a Haryana-based company that is currently owned and operated by Reliance Industries, when the latter acquired 96.49% stakes in Aaidea Solutions Private Limited Milkbasket parent in October 2021.

    Know more about Milkbasket’s startup story, business model, funding, revenue, growth, and more in the article ahead!

    Milkbasket – Company Highlights

    Startup Name Milkbasket
    Legal Name Doorstep Retail Solutions Pvt Ltd
    Headquarters Gurugram, India
    Industry Delivery Services, E-Commerce, Food and Beverage
    Founder Anant Goel, Anurag Jain, Ashish Goel, Yatish Talavdia
    Founded 2015
    Revenue $42.51 mn (INR 322 crore in FY2020)
    Total Funding $78.5 million (Feb 2021)
    Parent Organization Reliance Retail Ventures Limited
    Website milkbasket.com

    Milkbasket – Recent News
    About Milkbasket and How it Works?
    Milkbasket – Industry
    Milkbasket – Name, Logo and Tagline
    Milkbasket – Founders and Team
    Milkbasket – Startup Story
    Milkbasket – Vision and Mission
    Milkbasket – Business Model
    Milkbasket – Revenue and Growth
    Milkbasket – Funding and Investors
    Milkbasket – Competitors
    Milkbasket – Challenges Faced
    Milkbasket – Future Plans
    Milkbasket – FAQs

    Milkbasket – Conquering India’s Operational Complexities

    Milkbasket – Recent News

    October 23, 2021 – Reliance Industries’ subsidiary Reliance Retail Ventures Ltd completes the acquisition of Milkbasket by acquiring 96.49% stakes in the company.

    August 28, 2021 – Milkbasket, a daily grocery delivery app, has advanced its bid to go public in the second half of 2021, boosted by solid market growth in recent months despite the pandemic, according to a top company executive.

    “Milkbasket has a near-perfect record of reaching growth targets since being founded in 2015. The rapid adoption of at-home grocery delivery amongst consumers due to the pandemic has provided us with an impetus to target IPO in just a year, which we had initially planned for the year 2023,” Anant Goel (Milkbasket co-founder and CEO) said.

    About Milkbasket and How it Works?

    Milkbasket is a Gurugram-based company that creates an online grocery network to meet consumers’ everyday household needs.

    The company provides a simple delivery system that delivers milk, bread, eggs, butter, juices, and other everyday necessities and basic dairy amenities to users’ doorsteps every morning. The platform also allows them to keep track of daily expenditures, schedule vacation time off, and easily build repeat orders every day.

    How Online Food Delivery Startups are dealing with CoronaVirus Outbreak?
    The Coronavirus or COVID-19 which started last year in December in Wuhan, Chinahas impacted the global economy and no industry sector has remained immune toit. All businesses, startups and industries across the globe are coming up withsafety measures to deal with the virus like asking employees t…
    StartupTalkyVarad Kitey

    Milkbasket – Industry

    The Covid-19 pandemic has created a huge growth opportunity for the online grocery delivery sector, which predicted that India’s online grocery market could reach $3 billion in 2020, up from $1.7 billion in 2019. It is expected to grow at a CAGR of 37.1% from 2021 to 2028. The industry was valued at USD 2.9 billion in 2020. It has gained tremendous traction since 2020.

    Milkbasket – Name, Logo and Tagline

    ‘Milkbasket’ as the name suggests, was a milk delivery startup initially but later on decided to come up with a simple delivery system that delivers milk, bread, eggs, butter, juices, and other everyday necessities and basic dairy amenities to users’.

    Milkbasket Logo

    Milkbasket – Founders and Team

    Milkbasket was founded by Anant Goel, Anurag Jain, Ashish Goel, and Yatish Talavdia in 2015.

    Milkbasket's Founders
    Milkbasket’s Founders

    Anant Goel

    Anant V Goel was the founder and CEO of Milkbasket. Goel was a B.tech, Civil Engineering student of NIT Kurukshetra, after which he visited The Wharton School and INSEAD to complete MBA exchange and MBA, Strategy and Operations, Corporate Finance programs. Goel started his career at Tata Consultancy Services where he worked as a Project Leader and then went to Capgemini to join the company as a Sr. Strategy and Transformation Consultant. Goel then became the CEO and Managing Partner of UrSqft before founding Milkbasket and becoming its CEO. Gallup Consulting was another company where Anant Goel worked as an Associate Partner. Goel exited the company and stepped down from the CEO designation on August 23, 2021, after Milkbasket was acquired by Reliance Industries.

    Milkbasket Founder and former CEO Anant Goel  is all set to launch his new startup that will be based on the fruits and vegetable segment. It would be a consumer-centric platform that will delivery the fresh produce from farmers to the consumers, as per the sources close to the company and to the matter, reported on February 15, 2022.

    Anurag Jain

    Anurag Jain has been a co-founder of Milkbasket.com. He was also an alumnus of NIT Kurukshetra from where he completed a B.Tech degree in Civil Engineering. Jain later successfully pursued a PGDBM in Operations Management and Supervision from XLRI Jamshedpur. Anurag became a co-founder of Milkbasket after serving managerial roles in several companies like Spencer’s Retail, Cinepolis India, TPG Wholesale, and Samsung India.            

    Ashish Goel

    Ashish Goel served as the Co-founder and CTO/CPO of Milkbasket. A Mechanical Engineering student of Delhi College of Engineering, Ashish co-founded two companies –  Zamoona and UrSqFt before co-founding Milkbasket in 2015. Ashish Goel is currently serving as the CTO of ZipLoan after leaving Milkbasket in January 2021.

    Yatish Talvadia

    Yatish is currently hailed as the present CEO of Milkbasket after Anant exited the company. Talvadia has a Masters’ degree in Engineering/Industrial Management from Manipal Institute of Technology. Yatish was the Sr. Lecturer of JECRC and later served as a Core Team Member of Zamoona before co-founding Milkbasket with the 3 other founders of the company.  

    Milkbasket – Startup Story

    Ashish Goel availed of the ‘Milk and More’ service to deliver groceries and daily necessities to his home when he was in the U.K. This made Anant realize that India also needs one such service. However, entering around that time when the market was already being dominated by successful players like Grofers, Big Basket, LocalBaniya, and Peppertap, Milkbasket had only one intention, which is to stand as an alternative to the mom-and-pop stores of every Indian neighborhood.

    Milkbasket founders started in 2015 when they first set up a stall in an apartment complex in Gurugram. The founders soon got the first paying customer, who installed the app. The founding team of Milkbasket initially started to deliver milk by themselves, in their personal car. With the increasing demands, they eventually had to hire an autorickshaw to deliver it. The order volume further increased, which made Milkbasket partner with corporates and automotive companies and ultimately set up their own delivery fleet.    

    Milkbasket started off with just 22 customers in April 2015, and by the end of June of the same year, the team saw a growth of 30,000+ customers, and that too only in Gurugram. Ashish and Anant started with their initial capital seed of 50 Lacs.

    Milkbasket – Vision and Mission

    The company’s mission is to become the default mom and pop shop for over a million households. Milkbasket is by far the most cost-efficient model in the online grocery space as compared to its domestic and global competitors, accomplishing positive unit economics within about six months of launch. This is perhaps why the company has been acquired by Reliance.

    The Rapid Growth Of Foodtech Services In India
    The application of technology to food innovation forms the core of the foodtech vertical. Nicolas Appert’s improvement in 1810 of the canning procedure is anearly example of foodtech innovation. The emphasis was on safeguardingsustenance. The procedure wasn’t called canning at that point, and App…
    StartupTalkyDevashish Shrivastava

    Milkbasket – Business Model

    Milkbasket is a hyperlocal e-commerce company that believes in an inventory-based model where it sources its products directly from brands. Milkbasket co-founder Anant Goel believes that his company has developed a contactless hyper-local grocery delivery model. Customers can place orders before midnight and have them shipped by 7 a.m., according to Milkbasket.

    The e-grocery delivery startup doesn’t need checkout or payment because the purchase is prepaid with the help of a mobile wallet that is on the app. Therefore, the users can simply top it up whenever they run out of funds. Milkbasket earns from its delivery charges, subscriptions, and commissions from each transaction.

    Milkbasket – Revenue and Growth

    Milkbasket, a hyperlocal distribution startup based in Gurugram, announced a 3.8X increase in revenue in 2020, which ended in March last year, with only a small increase in losses. In 2020, the company reported revenue of INR 322 crore, of which 99.9% (INR 321.7 crore) came from operations.

    In 2020, the hyperlocal startup’s expenses rose at the same pace, to INR 337.7 Cr, bringing its losses to INR 15.7 Cr. In 2019, the company posted revenue of INR 84.6 Cr and expenses of INR 94.1 Cr, resulting in a loss of INR 9.5 Cr. Over the same time frame, it received around 99.7% (INR 84.4 Cr) from its operations.

    Milkbasket is based on the habit of people residing in India, of having milk delivered to one’s doorstep every morning, and the company only delivers during one delivery slot, from 5 a.m. to 7 a.m. By October 2017 they had delivered around 1.5 million orders and employed around 200 people.

    Milkbasket had earlier displayed an annual sales run rate of around USD 100 million, delivering over 9,000 items across FMCG, dairy, fruits, and vegetable categories in Indian cities including Hyderabad, Dwarka, Delhi, Bengaluru, Ghaziabad, Gurgaon, and Noida).

    MbBulk and senior citizens-only helplines were also introduced in several cities to help people stay on lockdown without having to go out for groceries and dairy products. Within the first six months of its launch, Milkbasket successfully shipped around 30 million orders and achieved positive unit economics.

    The company has been in high demand since the lockdown began, as demand for hyperlocal grocery delivery has increased dramatically. During the lockdown, many companies with a logistics and distribution backbone, such as Swiggy and Zomato, switched to grocery delivery as these were the only essentials in demand across the board.

    BroEat! – India’s first WhatsApp based home-delivery Platform
    The food delivery segment will not be the same, even after the lockdowns lift —largely because of the startups which have innovated to adapt to physicaldistancing and hygiene upgrades. One of the startups front lining this change is BroEat!. It is India’s first Whatsapp based home-delivery platf…
    StartupTalkyRishabh Rathi

    Milkbasket – Funding and Investors

    Over the course of 11 rounds of funding, Milkbasket has raised total funding of $78.5 million. Milkbasket’s Investors’ include InnoVen Capital, Inflection Point Ventures, Mayfield Capital, Kalaari Capital, Blume Ventures among others.

    Date Round Amount Lead Investors
    Oct 23, 2021 – $40M Reliance Retail
    May 13, 2020 Series B $5.5M Inflection Point Ventures
    Jun 27, 2019 Debt Financing ₹150M InnoVen Capital
    Jun 4, 2019 Series B $10.5M Unilever Ventures
    Dec 19, 2018 Series A $7M Mayfield Fund
    Nov 12, 2018 Series A $100M Mayfield Fund
    May 22, 2018 Series A $7M Kalaari Capital
    Jan 23, 2018 Seed Round $3M Unilever Ventures
    Aug 23, 2017 Seed Round $840.9K Blume Ventures, Lenovo Capital and Incubator Group (LCIG)
    Dec 1, 2016 Seed Round $634.9K —
    Apr 26, 2016 Seed Round $500K EVC Ventures

    Milkbasket – Competitors

    The top competitors in Milkbasket’s competitive set are –

    BigBasket Success Story – India’s Largest Online Grocer
    Today, BigBasket is the India’s largest online grocer that receives over 100,000orders per day. Online grocery shopping is fast gaining popularity among theIndians. According to a Redseer report, India’s online grocery retail market isall set to touch $10.5 billion by 2023. A company that holds a…
    StartupTalkyChayanika Goswami

    Milkbasket – Challenges Faced

    Though Milkbasket initially started fine with the capital pool from the founders, the app has faced money crunches in regular intervals, which has been one of the major challenges of the company. Milkbasket was ultimately acquired by Reliance Retail and two senior executives of Reliance Industries Limited – Nikhil K Chakrapani, CFO of Reliance Retail and Rajendra Kamath, CFO of Reliance Content Management have joined the board of directors of Milkbasket as additional directors.

    Milkbasket – Future Plans

    According to a top company executive, Milkbasket has advanced its intention to pursue an initial public offering by the second half of 2021, boosted by solid market growth in recent months despite the pandemic. The widespread adoption of at-home delivery services among shoppers during the coronavirus disease outbreak, according to Anant Goel, has opened an opportunity to target an IPO in less than a year.

    “Milkbasket has a near-perfect record of reaching growth targets since being founded in 2015. The rapid adoption of at-home grocery delivery amongst consumers due to the pandemic has provided us with an impetus to target IPO in just a year, which we had initially planned for the year 2023,” he said.

    However, the company didn’t manage to go public till now. Milkbasket is currently looking forward to expanding its range of offerings and is looking for profitability after being taken over by Reliance. The company is also deemed to be a part of the Reliance super app.

    Customer Experience Aspects that Food Delivery startup should Adopt
    The food delivery startups have seen a boom in popularity like Zomato[https://startuptalky.com/zomato-success-story/], Swiggy [https://startuptalky.com/swiggy-using-ai/] by serving customers preferred foods from their chosen restaurants. But not allthe apps excel with the same delightful customer…
    StartupTalkyShubham Kumar

    Milkbasket – FAQs

    What does Milkbasket do?

    The company provides a simple delivery system that delivers milk, bread, eggs, butter, juices, and other everyday necessities and basic dairy amenities to users’ doorsteps every morning.

    Who founded Milkbasket?

    Milkbasket was founded by Anant Goel, Anurag Jain, Ashish Goel and Yatish Talavdia in 2015.

    What companies do Milkbasket compete with?

    The top competitors in Milkbasket’s competitive set are Supr Daily, DailyNinja, BB Daily, Town Essentials, Amshop, RainCan, ZopSmart, PepperTap, Big Basket, Grofers, Dunzo, Zomato and Swiggy.

  • List Of Angel Investors In Bangalore [With Contact]

    Bangalore, the silicon valley of India, is one of the most famous Indian cities for entrepreneurs. In this post, we have listed some of the most prominent angel investors in Bangalore whom you can reach out to. You will get to know about their background and the sectors they like to invest in. You can contact these angel investors in Bangalore via their LinkedIn and AngelList profile.

    Relevant Read – List of Startups in Bangalore

    List of Angel Investors in Bangalore – With Contact

    1. Abhishek Gupta
    2. Binny Bansal
    3. Phanindra Sama
    4. Krishna Jha
    5. Sameer Brij Verma
    6. Ganesh Krishnan
    7. Aprameya Radhakrishna
    8. Praveen Gupta
    9. Rajeev Krishnan
    10. Amit Gupta
    11. Shamir Karkal
    12. Srinivas Anumolu
    13. Ananda Kallugadde
    14. Gaurav Lochan
    15. Nagendra Bhanuprakash
    16. Brij Bhasin
    17. Pradeep Reddy Kamasani
    18. Abishek Surendran
    19. Rutvik Doshi
    20. Toby Ruckert
    21. Nilesh Trivedi
    22. Sachin Garg
    23. Mark Straub
    24. K. Srikrishna
      FAQs

    Top Angel Investors in India

    List of Angel Investors in Bangalore – With Contact

    Below are listed some of top and active angel investors in Bangalore with their contacts and the markets they are interested in.

    Indian Startups – Funding & Investors 2021 Data | Updated
    Exclusive Startup Funding Data of the Indian Startup Ecosystem 2021. The most updated list of Startup Funding news India.
    StartupTalkyJeenal Jain

    Unlock Your Startup’s Potential with Our Exclusive Investor Lists and Resources

    Supercharge your startup’s success with our comprehensive resources. Access investor lists, pitch decks, KPIs, and fundraising guides. Connect with pre-seed investors, angel networks, and family offices, while mastering VC pitches. Ignite your entrepreneurial dreams today!

    Explore Now

    Abhishek Gupta

    Contact: AngelList | LinkedIn

    Markets Interested: SaaS, E-Commerce, Application, Platforms, Machine Learning, Big Data, Education, Developer APIs,Designers, Advertising, Music
    Investments: 135 Tech Labs Pvt., AskCake, bluegape.com, bottr.me, DataWeave, FlixStock

    Abhishek Gupta- Angel investors in Bangalore
    Abhishek Gupta- Angel investors in Bangalore

    Abhishek Gupta did his engineering from IIT, Varanasi in 1999. After completing engineering, Abhishek joined Oracle as an Associate Consultant. After working there for 4 years, he joined GlobalLogic. He then switched to a new company after working at GlobalLogic for almost 4 years and joined Lime Labs India as VP Technology. Later in 2011, he became the Head of Accelerator at TLabs. Now, Abhishek Gupta is the COO at TLabs and also serving as a Board member of MintM Inc. and GradeUp. Moreover, he likes to work as an angel investor for startups.

    Give your organic rankings the desired boost with the Help of 99Outreach Link Building Services

    Why Choose Team 99Outreach?

    Guaranteed Satisfaction | In-house content creation | Huge database of influential websites | Team of experts

    Get Started

    Binny Bansal

    Contact: AngelList | LinkedIn

    Markets Interested: Technology, Resource management, EdTech, Media
    Investments: Ather Energy, Grey Orange Robotics,InShorts, Unacademy

    Binny Bansal- Angel Investor in Bangalore & founder of Flipkart
    Binny Bansal – Angel Investor in Bangalore | founder of Flipkart

    One of the most famous names in the Indian entrepreneurial world, Binny Bansal started off at Sarnoff as a Software Engineer in 2005 after completing engineering from IIT, Delhi. In 2007, he switched to Amazon at the same position. However, after working there for 9 months, he along with his colleague, Sachin Bansal, came up with a new idea. They duo founded Flipkart. Binny recently left the company and co-founded another startup called X to 10x Technologies. Binny Bansal also serves as an advisor to many companies. Binny Bansal has invested in a lot of Indian startups as an angel investor.

    Phanindra Sama

    Contact: AngelList | LinkedIn

    Markets Interested: Consumer Internet, Enterprise Software, Mobile SaaS
    Investments: Belong, Betaout, DailyObjects, Drivezy, Fyle, galleri5

    Phanindra Sama- Angel Investors in Bangalore & founder of redBus
    Phanindra Sama- Angel Investors in Bangalore & founder of redBus

    Phanindra did his engineering from BITS, Pilani. He then started working as a design engineer at ST Microelectronics. After working 2 years, he joined another company called Texas Instruments at the same position. In 2006, Phanindra Sama co-founded redBus and served as the CEO for 8 years. Phanindra now serves as the Chief Innovation Officer for Government of Telangana.

    List of Angel Investors in Mumbai [With Contact]
    Find the List of Angel Investors in Mumbai with contact details. Top Angel Investors in Mumbai with their Major Investments, Market interests and contact.
    StartupTalkyJeenal Jain

    Krishna Jha

    Contact: AngelList | LinkedIn

    Markets Interested: Mobile Consumer Internet, SaaS, Enterprise Software, Productivity Software, FinTech
    Investments: AdPushup, Apptimize, Kwench Global Technologies, PrettySecrets, ReTargeter

    Krishna Jha - Angel Investors in Bangalore
    Krishna Jha – Angel Investors in Bangalore

    Krishna Jha completed his education in Mumbai from St. Xavier’s College. He founded ITFinity Solutions Pvt. Ltd. in 1999. He then became the head of OnMobile and served in that capacity for almost 2 years. Krishna Jha now serves as the President of Telnet ventures.

    Sameer Brij Verma

    Contact: AngelList | LinkedIn

    Markets Interested: Enterprise Software, Big Data, Cloud Computing & Infrastructure, Energy Storage, PaaS, Security, SMS Databases, Developer APIs.
    Investments: Archer Technologies, Bira 91, Buildsupply, CloudByte, Dhama Innovations, Eband Communications

    Sameer Brij Verma - Angel Investors in Bangalore
    Sameer Brij Verma – Angel Investors in Bangalore

    Sameer did his engineering from Illinois Institute of Technology. He started his career as an engineering intern at Spectranet. He went on to do many internships in various companies in the engineering field. Sameer then became the founder and CEO of Breakthrough Capital and now serves as the board member and investor at many companies including Zolo, Jumbotail, Hasura, Myupchar, and Unacademy.

    Ganesh Krishnan

    Contact: AngelList | LinkedIn

    Markets Interested: Consumer Internet, Healthcare, SaaS
    Investments: Must See India, Avagmah, bookadda.com, Browntape, delyver.com

    Ganesh Krishnan - Angel Investors in Bangalore
    Ganesh Krishnan – Angel Investors in Bangalore

    Ganesh Krishnan completed his engineering from Delhi and later pursued an MBA from IIM. He served as the CEO of Bharti Airtel in 1998. Ganesh is the founder of Portea.com and TutorVista.

    List of Angel Investors in Delhi | Delhi Angel Investors
    Here is a list of angel investors in Delhi with their contacts. Go through Delhi investor’s list to find out details for investment in startups.
    StartupTalkyJeenal Jain

    Aprameya Radhakrishna

    Contact: AngelList | LinkedIn

    Markets Interested: E-Commerce, Online Travel Taxis, Consumer Internet, Food Tech
    Investments: DailyNinja, Fisdom, Unacademy, TapChief, Vogo Rentals

    Aprameya Radhakrishna- Angel Investors in Bangalore
    Aprameya Radhakrishna- Angel Investors in Bangalore

    Aprameya completed his engineering from National Institute of Technology, Karnataka. He started working as Software Engineer at Infosys. But in 2006, Radhakrishna decided to study further and joined IIM for his MBA. In 2008, he began working at Jones Lang LaSalle as the head of business development. After working for 2 years, he founded TaxiForSure in 2010. He remained the director of TaxiForSure till 2015. Now, he’s more into angel investing and also founded another startup called Vokal.

    Praveen Gupta

    Contact: AngelList | LinkedIn

    Markets Interested: Social Commerce, Healthtech, SaaS, IoT, eCommerce, Wearable Technologies, CPG Technology, Big Data, Real Estate, FinTech, FoodTech
    Investments: Brilliant, ezCater, Milk Mantra Dairy, Planetary Resources, Adarza BioSystems, Asiatic, Biscuit Labs

    Praveen Gupta - Angel Investors in Bangalore
    Praveen Gupta – Angel Investors in Bangalore

    Praveen completed his engineering from BITS, Pilani. He later joined IIM to do his PGDM. In the year 2000, he founded Cross-Tab Marketing Services where he serves as a Director now. In 2013, Praveen Gupta founded Tallenge Inc. and serves as the CEO.

    Propstory—Data-Driven Platform for Real Estate Buyers and Investors
    Propstory is the most sought-after information-driven platform for the real estate sector of India. Read about its Story, Founder, Business Model, Funding, Team, News, and others.
    StartupTalkyShubham Kumar

    Rajeev Krishnan

    Contact: AngelList | LinkedIn

    Markets Interested: Clean Technology, Consumer Internet, Enterprise Software, Healthtech, Biotechnology, Fintech
    Investments: Absentia VR, Appvigil, Belita, DailyNinja, Effie, Exploride, FinoZen

    Rajeev Krishnan - Angel Investors in Bangalore
    Rajeev Krishnan – Angel Investors in Bangalore

    Rajeev Krishnan is an Engineer from National Institute of Technology and later did PGDM from IIM. Before switching his career, Rajeev worked as a Technical Consultant at National Instruments. He then joined the same company and was promoted rapidly. Rajeev now serves as the Country Manager for MTS System Corporation. Rajeev has seed funded many startups.

    Amit Gupta

    Contact: AngelList | LinkedIn

    Markets Interested: Clean Technology, Consumer Internet, Enterprise Software, Healthtech, Media, e-Commerce
    Investments: Admission Table, Fleksy, Get@, Hate2Wait, HealthifyMe, Inc42 Media

    Amit Gupta - Angel Investors in Bangalore
    Amit Gupta – Angel Investors in Bangalore

    After graduating from IIT, Kanpur, Amit Gupta joined Herman Industries as a software engineer. He later went on to launch InMobi as a co-founder and is now working with Yulu, the cycle rental startup.

    Shamir Karkal

    Contact: AngelList | LinkedIn

    Markets Interested: Consumer Internet, Enterprise Software, Mobile Healthcare, Fintech Industry
    Investments: ChartIQ, ClearFactr, EarnUp, inDinero, MPOWER Financing, Nowait

    Shamir Karkal- Angel Investors in Bangalore
    Shamir Karkal- Angel Investors in Bangalore

    After completing his MBA from Carnegie Mellon University, Shamir Karkal joined McKinsey & Co. as a Management Consultant. He then did many high profile jobs before co-founding Sila in 2018.

    Srinivas Anumolu

    Contact: AngelList | LinkedIn

    Markets Interested: Consumer Internet, Mobile Healthcare, Small and Medium Businesses, Healthtech
    Investments: bigbasket.com, bluestone.com, bookadda.com, delyver.com, DocsApp

    Srinivas Anumolu - Angel Investors in Bangalore
    Srinivas Anumolu – Angel Investors in Bangalore

    After completing his engineering from IIT Madras, Srinivas Anumolu joined IIM Calcutta to do his PGDM. After completing his studies from IIM in 1987, he went to UCLA to pursue an MBA in finance. Srinivas is the Co-founder of TutorVista and Elance (now Upwork). He also served as the director of Amazon India in 2005. All of the startups he has funded in are doing exceptionally well.

    Ananda Kallugadde

    Contact: AngelList | LinkedIn

    Markets Interested: Consumer Internet, Enterprise Software, Mobile Healthcare, Edtech
    Investments: Cheapesto, iKaaz Mobile Payments, inthree, KleverKid, LoudCell

    Ananda Kallugadde - Angel Investors in Bangalore
    Ananda Kallugadde – Angel Investors in Bangalore

    Ananda Kallugadde completed his engineering in 1995 from National Institute of Technology. His first job was at Ernst & Young LLP. Later, he worked at a few companies before he helped co-found NeoBytes in 2006. Ananda now works as an Advisor for many companies.

    All About Pitch Deck | Pitch Presentation Tips For Funding
    As an entrepreneur, wondering how to pitch deck? Learn about what is Pitch Deck? Here are Tips To Successful Pitch for Funding for business.
    StartupTalkyRoshni Tamta

    Gaurav Lochan

    Contact: AngelList | LinkedIn

    Markets Interested: Music, Healthcare, Education
    Investments: Aisle, AppVirality, HasGeek, Localize, Springboard, Zycada Networks

    Gaurav Lochan - Angel Investors in Bangalore
    Gaurav Lochan – Angel Investors in Bangalore

    Gaurav Lochan did his Masters in Computer Science from the University of Southern California. He then joined Microsoft as a Software Engineer. In 2012, Gaurav Lochan helped co-found BeetRoute. However, after one year, he joined Flipkart as an Engineering Manager. Gaurav is a Software Engineer at Facebook at present.

    Nagendra Bhanuprakash

    Contact: AngelList | LinkedIn

    Markets Interested: Clean Technology, Consumer Internet, Enterprise Software, Mobile Healthcare
    Investments: Able Lending, Bring Me That, Instamotor, Mosaic

    Nagendra Bhanuprakash - Angel Investors in Bangalore
    Nagendra Bhanuprakash – Angel Investors in Bangalore

    Prior to launching Strumsoft as a co-founder, Nagendra did his MBA from Massachusetts and worked as a Program Manager at Comverse. He is now the VP of Engineering at Synchronoss Technologies.

    Brij Bhasin

    Contact: AngelList | LinkedIn

    Markets Interested: Consumer Internet, Enterprise Software, Media, Mobile Healthcare, SaaS, Impact Investing
    Investments: Flintobox, HackerEarth, Little Eye Labs, Pokkt

    Brij Bhasin - Angel Investors in Bangalore | founder of Boost Tech
    Brij Bhasin – Angel Investors in Bangalore | founder of Boost Tech

    University of Minnesota is where Brij Bhasin completed his engineering and also worked as Research Engineer for 2 years. He later worked as a Product Manager at Pramata Corporation for 6 years. In 2011, Brij Bhasin launched Boost Tech. He left the company after a year and did many high profile jobs in the next 3 years. Brij Bhasin is an Angel Investor and Board Member of multiple companies.

    List of Top 25 Companies Pitch Deck
    The best pitch decks tell the real story about your brand or company. Read to know more about the top companies’ pitch decks.
    StartupTalkyGorish Dua

    Pradeep Reddy Kamasani

    Contact: AngelList | Linkedin

    Markets Interested: Healthcare, Tech, Edtech, Marketing, SaaS, Logistic, Event management, Automobile
    Investments: Explara, Spareshub, Edurev, Ahataxis

    Pradeep Reddy Kamasani - Angel Investors in Bangalore
    Pradeep Reddy Kamasani – Angel Investors in Bangalore

    Pradeep Reddy Kamasani has nearly 2 decades of IT, Business, Sales & Marketing experience in North America, Europe, and Asia. He has been active in the startup ecosystem since 2014. Pradeep is currently the CEO of HunterTech, an IT Services Company based in Bangalore. Pradeep is the founder of 2 startups in addition to being an Angel Investor and Advisor to Edtech, Healthcare, and Tech startups. He is an advisor to Edurev and BeYouPlus. Pradeep is helping small businesses scale to an enterprise level with his Growth Strategy, Marketing Automation, Digital, and Content Marketing Skills. He is Hubspot Inbound Marketing certified.

    Abishek Surendran

    Contact: AngelList | LinkedIn

    Markets Interested: Consumer Internet, Enterprise Software, Mobile Healthcare, Big Data, Computer Vision, Artificial Intelligence
    Investments: IQLECT, LensBricks, Mad Street Den, Riversilica

    Abishek Surendran - Angel Investors in Bangalore
    Abishek Surendran – Angel Investors in Bangalore

    After completing his engineering from VESIT in 2004, Abishek joined Tata Consultancy Services as a security consultant where he remained for 5 years. In 2009, he went to School of Investment and Banking and switched to Intellecap as a Senior Associate. In 2013, Abishek Surendran completed his MBA from IIM and interned at an investment company. He then joined Exfinity Venture Partners as President and stayed for almost 4 years. Abishek is a Partner at pi Ventures.

    Google Ventures Investment | Google funded startups
    Google Ventures is a capital investment firm. Here is a list of top startups funded by Google Ventures. Know about Google Ventures Investment.
    StartupTalkyAnsh Mehrey

    Rutvik Doshi

    Contact: AngelList | LinkedIn

    Markets Interested: Mobile Enterprise Software, Advertising, SaaS, Cloud Computing, Edtech
    Investments: eDreams Edusoft, SysCloud, Unbxd, Aasaanjobs

    Rutvik Doshi - Angel Investors in Bangalore
    Rutvik Doshi – Angel Investors in Bangalore

    Rutvik completed his engineering from IIT, Kharagpur. He joined CA Technologies as a Software Engineer straight out of college. He worked there for a long time in many positions. He then decided to pursue an MBA from INSEAD in 2006. After completing his MBA in 2007, he joined Google as a Product Manager and worked there for 3.5 years. He was the CEO of Tagge.com in 2010. He now serves as the Managing Director of Inventus Capital India.

    Toby Ruckert

    Contact: AngelList | LinkedIn

    Markets Interested: Unified Communications, Social Media, Cloud Computing, Big Data, Social CRM, Advertising Platforms, e-commerce, SaaS, B2B, Deep Information Technology, Disruptive Models
    Investments: TVInfo.in, Advanced Millennium Technologies, Viva-Lite, Wellness-Shop.com

    Toby Ruckert - Angel Investors in Bangalore
    Toby Ruckert – Angel Investors in Bangalore

    Toby Ruckert found SysOp in 1992 and also worked as a Software Tester at IBM at the same time. After that, he became a Board Member at Viva-Lite International Ltd. where he served for 17 years. During that time, he co-found AMT in 2004. Toby Ruckert is the Board Member of many organisations and is the founder and CEO of UIB, which he launched in 2014. Along with a deep interest in business, Toby likes to play music and went to a piano school in 1997.

    Nilesh Trivedi

    Contact: AngelList | LinkedIn

    Markets Interested: Enterprise Software, Big Data, Fintech
    Investments: mobileGullak, Pixel2Desk, Protomake , RevOs, Skyware, ToneTag, VendorMach

    Nilesh Trivedi - Angel Investors in Bangalore
    Nilesh Trivedi – Angel Investors in Bangalore

    After doing a diploma in Business Management, Nilesh worked at Nortal as a System Analyst. He found a tech startup in 2000. He later joined Cisco as a Software Engineer. Nilesh Trivedi did an MBA in 2012 and became an Advisor to many companies. In 2015, he founded another company called IOTLab. Nilesh is an angel investor for many startups.

    Sachin Garg

    Contact: AngelList | LinkedIn

    Markets Interested: Recruitment, E-commerce, Media, Tech Industry
    Investments: iimjobs, Overcart, upRack, ZAPR Media Labs

    Sachin Garg - Angel Investors in Bangalore
    Sachin Garg – Angel Investors in Bangalore

    Sachin Garg is an Engineering dropout who founded his first startup in 1997. He was a Software Product Consultant at TCS, India, and Canada. In 2006, Sachin joined Yale University to do an MBA. After completing his MBA, he became a founding member of GSF Accelerator & Investments. While working on the startup, he also worked as the Product & Business head at Amazon.com. He left both the companies and founded another startup called upRack.com, an e-commerce platform. In 2013, he launched another startup called REXPROP, which was later acquired by BroEx. Sachin now works as a Product and Business Consultant for various companies.

    Mark Straub

    Contact: AngelList | LinkedIn

    Markets Interested: Impact Investing, CleanTech Industry, Mobile Social Recruiting, Emerging Markets, Healthtech, Information Technology, Mobile Health
    Investments: Babajob, EyeNetra, Kopo Kopo

    Mark Straub - Angel Investors in Bangalore
    Mark Straub – Angel Investors in Bangalore

    After completing his education from the University of Virginia in 2004, Mark Straub joined Banc of America Securities as an Analyst. After 2 years, he joined Draper Fisher Jurvetson Growth Fund. In 2011, Mark became the Director of Khosla Impact and worked there for 7 years. In 2017, Mark Straub co-founded Smile Identity.

    K. Srikrishna

    Contact: AngelList | LinkedIn

    Markets Interested: Mobile Consumer Internet, Enterprise Software
    Investments: Althea Systems, IndianStage

    K. Srikrishna - Angel Investors in Bangalore
    K. Srikrishna – Angel Investors in Bangalore

    K. Srikrishna started his career in 1988 as a Marketing Manager at National Semiconductor Corporation after doing his Masters and Ph.D. in Engineering from University of California. He was the President and COO of Microcon in 1996. He held several high profile jobs till 2008 when he founded Zebu Group. Srikrishna was the CEO of Zebu Group and became Executive Director of National Entrepreneurship Network in 2011. In 2015, he co-founded Zebu Games and now serves as its CEO.

    This was our list of Angel Investors in Bangalore. If you are an investor, connect with us at shubham@startuptalky.com to get featured in the list.

    FAQs

    What is meant by angel investors?

    An angel investor is an individual who invests in emerging and promising startups. They provide funding for a startup in exchange for an ownership stake in the company.

    Who is the founder of Indian Angel Network?

    Padmaja Ruparel and Raman Roy are Co-Founders of Indian Angel Network.

    How does an angel investor gets repaid?

    Angel investors expect to get their money back within a fix straight schedule. The tenure ranges from 5 to 7 years with an annualized internal rate of return (“IRR”) of 20% to 40%.

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

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

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

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

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

    Reasons why Service-Based Startups are more successful?

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

    1. Zomato
    2. Practo
    3. Rentomojo

    Reasons why Service-Based Startups are more successful?

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

    Low Capital Costs

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

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

    Faster to Launch

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

    Lower Business Risk

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

    Flexibility and Adaptability

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

    List of 105 Unicorn Startups in India | Top Unicorns in India
    India has already seen 105 unicorn startups. Here’s an exhaustive list of all Indian Unicorn Startup Companies including those that joined the unicorn club in 2022.
    StartupTalkyAnik Banerjee

    How Indian Startup Culture Differs From Others?

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

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

    Successful Service-Based Startups in India

    Zomato

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

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

    Practo

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

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

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

    Rentomojo

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

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

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

    Conclusion

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

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

    FAQs

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

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

    What are service-based startups?

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

    Which Indian startups are profitable?

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

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

    Is India good for Service-based industry?

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

    Which is the best service-based company in world?

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

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

    How many startups are there in India?

    There are around 55000 startups in India.

  • My Dream Store: Start Your Merchandise Business With Zero Investment

    Do you have that hidden talent to design beautiful merchandise and apparel? But then how do you showcase your creativity? This post discusses “My Dream Store“, a platform that helps you showcase and monetize your creative abilities.

    My Dream Store lets you design awesome products and sell them online while it takes care of everything else—from manufacturing the product to packaging, delivery, and even customer service!

    My Dream Store – Company Highlights

    Startup Name My Dream Store
    Headquarter Hyderabad
    Founders Karthik Venkat & Bala Satish
    Sector E-commerce
    Founded 2014
    Parent Organization Pratyaya E-commerce Private Limited
    Website mydreamstore.in

    About My Dream Store and How it Works
    My Dream Store – Founders and Team
    How was My Dream Store Started
    My Dream Store – Startup Challenges
    My Dream Store – Business Model and Revenue Model
    My Dream Store – Funding and Investors
    My Dream Store – Growth

    About My Dream Store and How it Works

    Based out of Hyderabad, My Dream Store allows people to create and sell products such as T-shirts, hoodies, vests, mobile cases, coffee mugs, and more online with zero inventory and zilch cost. Its platform also provides free design support. My Dream Store has partnered with other vendors to handle demand surges and the manufacture of special products.

    My Dream Store is predominantly a crowd-funded merchandising platform. This means that the seller can easily upload his or her designs, create products like T-shirts and hoodies, set the desired pricing and the quantity of items to be printed, and then go on to promote them. When the seller campaign reaches its goal, the platform prints, packs, and delivers the item to the buyers on time and hands over the profits to the seller.

    My Dream Store provides the following features:

    • Create and Sell – This is for young designers and entrepreneurs who want to step in and solve problems but face barriers of varying degrees while starting an apparel brand. To minimize the overhead expenses on inventory creation, My Dream Store offers such individuals zero inventory and warehousing costs. With added facilities like distribution and packaging, the platform is an aid to the startup ecosystem.
    • Create and Buy – This feature is mainly for students who may need T-shirts and other apparel for annual college meets, occasion, groups, and hobby clubs. My Dream Store is a convenient option to solve the tedious process of ordering tees from the traditional vendors.

    Relevant Read: FableStreet – Making Tailored Fit Workwear for Women by Using Algorithm

    My Dream Store – Founders and Team

    My Dream Store was founded by Karthik Venkat and Bala Satish in 2014.

    My Dream Store Founders
    My Dream Store Founders

    Both Karthik and Bala are NIT Allahabad graduates who left their corporate jobs in 2011 to start a custom merchandise platform called eSparsha; it manufactured customized T-shirts for corporate sessions, college events, etc. The founder duo later jumped into the e-commerce segment to start My Dream Store.

    • Karthik Venkat, the CEO of My Dream Store, is an experienced founder with a demonstrated history of working in the internet industry. He is quite skilled in sales, strategic planning, building and running teams. He also is an expert Facebook advertiser!
    • Co-founder Bala Satish, the COO of My Dream Store, is motivated to build the best sales accelerator platform to help creators and micro-brands sell their products. He wants to foster an awesome team to assist these creators and brands.

    How was My Dream Store Started

    Although E-Sparsha (which Karthik and Bala launched after quitting their jobs) had established itself as a reliable service provider for custom merchandising, the idea to explore the e-commerce market caught the attention of the duo which led to the launch of My Dream Store in 2014.

    Regarding the initial phase, Karthik quoted, “The initial phase was relatively easy as we had already built a strong vendor network from E-Sparsha. However, getting into the online space and running an E-commerce portal was a different ball game altogether.”

    My Dream Store Logo
    My Dream Store Logo

    While dealing with online marketing, entrepreneurs have to consider several intricacies to strengthen the strategic pillars and optimize their business operations. The Beta version of My Dream Store was built in September 2014. Since then, the company is working on a way to minimize the risk of over-burdening the inventory by giving sellers access to upbeat scalable technology, efficient and risk-free inventory management, optimized operations, well-defined product, and a seamless marketing strategy.

    My Dream Store – Startup Challenges

    My Dream Store is based on a ‘bring-your-customer’ model where sellers have to promote their products to the right target audience. However, sellers aren’t too aware of modern online advertising tools such as Facebook advertising, Google advertising, etc. To counter this problem, the startup created learning programs on its platform (targeted towards educating the sellers) through an online course-ware called the ‘My Dream Store University’. This initiative by the company helped the sellers improve the success rates of their campaigns.

    In addition to the My Dream Store University, My Dream Store has put in efforts to enhance community engagement and overcome various other challenges startups commonly face:

    • Campaigner Connect – This is a closed group meant to build a network where buyers and sellers can easily communicate with community managers and solve any hurdles that arise on the way.
    • Google Hangout – The creative store has regular hangout sessions where every member of the community reaches out to both existing and potential buyers and sellers for meaningful conversations.
    • Open door policy – My Dream Store invites young designers and aspiring entrepreneurs to its office on a regular basis . The My Dream Store team interacts with the visitors and motivates them to join the platform.

    Relevant Read: Myntra – Bringing top-notch fashion with every click

    My Dream Store – Business Model and Revenue Model

    The revenue model of My Dream Store seems quite simple. It charges a standard fee per unit which is based on the type of the product and printing requirements. This fee includes everything ranging from manufacturing cost and packaging to delivery, handling charges, and profit margins.

    My Dream Store – Funding and Investors

    In 2015, the company received an angel investment of $320K.

    My Dream Store – Growth

    • More than 820,000 visitors.
    • More than 9,000 registered sellers.
    • Delivers products to more than 150,000 customers across India.
    • A 100% margin on sales on an average.
    • A team of 45 employees that continues to grow.
    • Extension of its services to Bengaluru, New Delhi, Mumbai, Pune, and Kolkata.
    • Conducts 30,000 transactions per month on an average.

    Moving further, My Dream Store plans to venture into other product categories like posters, tote bags, stickers, etc., thereby opening up new opportunities for itself and its partners.

    Fast forward to July 2021, My Dream Store has become NOBERO, an online shopping site for men and women.

  • 13 Ways to Market Your E-Commerce Website in 2021

    Having organized an ecommerce website is a job half done. The rest of the job is proper marketing of the website to gain more customers as more and more individuals become aware of the website, the sales increase and thereby establish the virtual presence of the ecommerce initiative.

    As the word of mouth spreads, more customers will turn their heads towards the website. Hence why proper marketing is very essential and crucial in an ecommerce website. Below we’ve mentioned some creative ways of marketing any ecommerce website. So, let us see the complete story on the topic- 13 Ways to Market Your E-Commerce Website.

    Ways to Market a New eCommerce Website

    Ways to Market a New eCommerce Website

    1. Advertising through Podcasts

    A podcast is a series of audio files which subscribers can download and access. Podcasts are being branded as a source of ‘audio marketing’.

    In recent years, the number of subscribers has gone up significantly. So get in touch with podcasts that are even remotely related to the services or product that the website deals in.

    Explain the brand value and proposition to them, and convince them to advertise your website, either pre-roll, mid-roll or post-roll of the audio/video. This will surely attract the podcast subscribers to check your website.

    2. PPC marketing

    Pay-per-click marketing allows the ad owner to evaluate how effective the campaigns cost-wise by comparing ad cost with the revenue generated through this model.

    By marketing the website on platforms such as Facebook, the website creator can get to know the current standing of his offering and continuously improve the campaign to ensure that the money being paid to the social media platforms isn’t going waste.

    3. Blogging

    A cost-efficient and creative way of garnering an audience, if blogging is done with the right content is a great way of marketing anything. The outcome is more pronounced if the website offers something in a specific niche, that’s enthralling and unique at the same time.

    The blog should explain the product, its USP, and everything else that the customer should be aware of. For blogging, you can hire good online bloggers who will write effective content mentioning about your website, the products and services etc. Also, you can ask them to promote these on their social media, to attract customers.

    4. Social Media Marketing

    Establishing a presence on such sites doesn’t mean having 500+ followers on LinkedIn, innumerable likes on the Facebook page, etc. The aim is to leverage virtual presence to target the intended audience. You have to use all the social media platforms effectively to promote a new ecommerce website.

    Influencers are people who have large online audiences, and have the power to “influence” that audience’s purchasing behavior.

    Working with the right influencer can get your product in front of a huge number of potential customers, increasing your brand awareness. To make the best use of influencer marketing, make sure your targeted influencer’s following aligns with your target audience, and that their values align with your brand. Conducting social media contests and forming new trends with influencers can get your brand a lot of attention.

    There’s no denying that getting noticed by many is imperative, but everything should be done systematically. First, getting the actual customer to take notice of the product/service, and then expanding the website’s awareness among other types of people.

    How To Become a Social Media Manager? | Social Media Management
    Social Media is amongst most the powerful platforms available across the globetoday. Platforms like Facebook and Twitter are capable of influencingpresidential elections. Moreover, such platforms are now providing employmentopportunities to hundreds of thousands of people in different countries. …
    StartupTalkyDevashish Shrivastava

    5. Partnerships

    Partnerships
    Partnerships

    Networking can turn the tide in one’s favor even in the grimmest of situations. Collaborating with major industry players to seek their assistance in the ecommerce website’s marketing is like the job half done. It sets a base wherein continuous refurbishment on the website owner’s part takes things further. A few ways to approach the big-shots are:

    • Personal messaging to initiate a conversation with the company/individual; this provides a pitch deck for presenting the website’s potential and how external support can churn profit for both parties.
    • Re-tweeting or replying to those who mention the product in a tweet, post or any other method.
    • Being active on the industry veterans’ page or profile; one can respond with witty and creative responses to content posted by such popular entities.

    Also, you can participate in a competition where there is actual investors partner with you and invest in your company.

    6. SEO Is The Key To Online Success

    Search Engine Optimization makes the difference in turning a not so known website into one that shows up on the first page of a search result.

    There are ample sources to get the required tweaking and modifications done. A lot of business specializes in content marketing and SEO strategies that too at affordable costs, so get in touch with an SEO specialist and start working on your ecommerce website and make it on the top of the search engine to gain mass of customers.

    Best SEO Tools To Use in 2021 | SEO For SaaS
    Search Engine Optimization (SEO) is crucial for your SaaS Company to stay on topof your rivals, regardless of whether you are a startup, or have established anonline presence. No matter how much you invest in digital marketing, you want tosee a return on investment (ROI). In comparison to oth…
    StartupTalkyRishabh Rathi

    7. Social Media Presence

    Social Media Strategy
    Social Media Strategy

    Social media strategy is a 21st-century marketing way. Create your company page in every social media platforms and focus on the posts. Make sure you engage the followers with catchy posts and attractive headlines.

    Also, make sure you post regularly on your page so that your followers get updated with the new collections, offers etc. of your store. I came to know about lots of ecommerce sites because of social media. Hence, focus on your social media presence.

    8. Email marketing

    The old way of publicity, email promotion involves sending emails related to the product to the intended people. The problem is that most of the times, such emails end up in spam.

    So, that’s one thing to consider when weighing the efforts put into creating an appeasing promotion mail against the probability of the customer noticing it.

    Build up a mailing list after carefully considering the customers so that unintended recipients don’t end up receiving the promotional mail.

    SendFox – Review, Features and Pricing
    There’s a new player that has entered the email-marketing game: SendFox. SendFox belongs to the Sumo family of tools, an inexpensive and simple emailmarketing platform tailored for content creators. Email marketing can prove to be a costly aspect of your business. But with somany different email…
    StartupTalkyDev Kumar Padhy

    9. Offers And Discounts

    Even before the advent of ecommerce, promotions were integral in attracting customers over the internet. The same is applicable even today. Good, well-tailored discounts and freebies can aid in boosting virtual presence and sales because people love free things.

    10. Feedback System

    All ecommerce sites offer a review/discussion forum for each product or offer. In addition to the product, the medium allows people to put forth their opinion about the site itself—it’s a layout, efficiency, etc.

    So, creating a feedback or review portal and genuinely reply to the posts makes the website more relatable to the audience; the reason being that their opinions are being heard.

    11. Mobile-Friendly Websites

    Smartphones are gradually replacing computers and laptops; PC specs are now being incorporated in mobile phones. And most of the internet users utilize their smartphones for the purpose. So, creating a website that renders on a mobile screen smoothly is a necessity.

    12. Easy Return Policies And Shipping Charges

    When it comes to online shopping, we are ways worried about the size, quality, colour etc. of the products that we order from the ecommerce websites, so one more interesting trick to attract customers is easy and hassle-free return policy. Also, no one wants to pay heavy shipping charges, so make sure you charge minimum shipping charges on the products.

    Hence, follow these easy yet interesting tips to promote your ecommerce website because, for an online ecommerce website, marketing is the key to success.

    13. Personalised Landing Pages

    Landing on a web page that is tailor-made to suit your preferences is a feature that isn’t available to all. Many sites have now realized the importance of personalized landing web pages.

    For example, a website specializing in women apparel would seem out of place if there are pop ads for men’s undergarments! If the page displays women-centric advertisements, the website ought to have better traffic.

    Frequently Asked Questions

    How decide best marketing strategy for my ecommerce business?

    If you want to reach new customers who are currently unaware of your brand, then SEO and content strategy is the best option as it will drive traffic to your website and your site will be easily available to people interested in your product. There are many ways to use marketing to promote your business; however, which strategies you should employ will depend on your business and your goals. Here are some questions to ask: does your offline brand provide you with a strong email list? If so, maybe start by getting the word out that way. Does the audience for your products flock to certain social media platforms? If so, those channels would be a good place to focus on.

    How to drive more traffic to my ecommerce website?

    The key to driving organic traffic to your website is SEO. You really need to understand the intention of the search for SEO. You need to make your site easy to find for people who aren’t familiar with your brand, but who are in need of your products. Make sure all the content on your website follows SEO best practices and consider producing additional content as part of a content marketing strategy to reach new customers.

    How to find a right influencer for marketing?

    Study what your target market is interested in, research the content creator who is already talking about products you are selling. You can also find a content creator who is an expert in your niche. Research content creators who have a following specifically related to your target industry and audience

    How to Market Your E-Commerce Website?

    Marketing Tactics to Promote Your E-Commerce Website

    • Utilize your email list
    • Boost your organic social presence
    • Optimize your site for SEO
    • Create interesting, useful content
    • Try out Google Ads
    • Advertise on social platforms
    • Partner with complementary brands

    Best Referral Tracking Software for Affiliate Marketing Strategies
    Referral Marketing is one of the newer methods of advertising a product whichmany companies have adapted for smarter advertisements. In previous years, ithas been observed that ‘Word of mouth’ marketing strategies have been effectivein making a content go viral, and they continues to do so. In su…
    StartupTalkyAnsh Mehrey

  • PostFold—Comfortable & Affordable Fashion for Every Occasion

    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 PostFold.

    Though there are people who discard it as unnecessary, fashion, in fact, is never futile. Especially clothing is a very important aspect of fashion. It’s not wrong to say that ‘what we wear is what we are. Wearing something good not only makes people have a positive perception towards you, but you too feel good and confident. But the problem is that, in India, fashion is not always affordable. High-quality, comfortable and stylish clothing is always overpriced. While those which are affordable, are not up to the mark. To solve this problem, Aashray Thatai and Ashish Gurnani, started up PostFold- a house of affordable yet classy apparel.

    Company Highlights

    Startup Name PostFold
    Headquarter Gurgaon
    Founders Aashray Thatai & Ashish Gurnani
    Industry Apparel & Merchandising
    Founded 2015
    Parent Organization AA Brands Pvt. Ltd.
    Website PostFold

    PostFold—About
    PostFold—Founders
    PostFold—How It All Started?
    PostFold—Products
    PostFold—Business Model
    PostFold—Challenges & Future
    Fashion Industry In India
    FAQ’s

    PostFold—About

    Founded in November 2015, PostFold is a clothing brand that offers contemporary and stylish apparel for every day and every occasion. PostFold through its clothing strives to strike a perfect balance of quality and design. The company sources the best quality fabric and the best of designers to deliver apparels that are stylish, comfortable, and at the same time affordable. It offers a wide range of essentials including shirts, blouses, polo, knit tops, and shrugs for both genders.

    Their approach is simple. No middlemen. No crazy markups. They offer a collection of essentials that incorporate the perfect balance of quality, design, and price.

    PostFold—Founders

    PostFold was founded by Aashray Thatai and Ashish Gurnani, two guys from New Delhi, who are an alumnus of Northeastern University, Boston.

    Aashray Thatai & Ashish Gurnani | Co-founders, PostFold 

    Aashray Thatai studied Mechanical Engineering at Northeastern University. Post that he moved to Memphis to work at the Williams Sonoma e-commerce distribution center as an Industrial Engineer. Worked at Williams Sonoma INC for two years which was a good experience with operations, process improvements, and hands-on experience with the B2C industry. In 2015 he moved to India to start PostFold. He sees PostFold as a brand that is soon synonymous with simplicity, sophistication, and subtleness. When not busy with work, Aashray enjoys playing sports like Golf, Lawn Tennis and is a fitness freak. He also invests in fitness equipment and apparel like tennis shirts, and golf hats.

    Ashish Gurnani holds Bachelor’s degree in Marketing and Finance from Northeastern University, Boston. Post that moved to Seattle to work at the mecca of e-commerce in Amazon as a Digital Advertising Analyst and worked with companies like John Hancock, EMC, and Amazon. He left his job to pursue his dream of creating ‘PostFold’, a brand that he hopes is looked up to for its culture, honesty, and style. Ashish is a big foodie who enjoys trying different types of food from all over the world, traveling and experiencing new cultures, and swimming on Sundays.

    PostFold—How It All Started?

    PostFold Logo

    PostFold was conceived when the co-founders, Ashish Gurnani and Aashray Thatai could not find clothes that would work post office. They thought of coming up with a brand where the clothes are so versatile, they can be worn to work, after work, or on a Saturday night!

    The idea was germinated when the co-founders, Ashish and Aashray returned to India after pursuing their education. They experienced a dent in the Indian apparel market and analyzed that affordable apparel is low quality and quality apparel is excruciatingly high priced. The most appalling fact being that India is one of the biggest manufacturers of the best brands in the world yet finding high-quality and great-looking apparel is a task. They decided to dig deeper into why luxury brands charge such a high premium even though the designs were not vastly different. They found out even if the fabric used is of a higher quality still the price does not justify the 10X markups. Hence, they came with a business model where they manufacture, and style apparel using high-quality fabrics and keep the fixed costs low and curate clothes with the experienced stylists so that they can suggest attire from “Desk to Dinner”.

    PostFold—Products

    PostFold offers a wide range of contemporary apparel for men and women. PostFold’s design ideology is simple. It starts with the customers and works backward to uncover their clothing needs to create thoughtful designs.

    Each detail in the design has a purpose. After creating the designs, the highest quality materials from fabric to the threads are sourced to create the best and superior quality apparel. PostFold takes care of everything from pattern making to when the finished products are received from the factories.

    The company work with the products right from pattern making to when the finished products are received from the factories. Each garment is constructed keeping in mind the highest level of quality. None of the products are just “wear three times and discard”. They are made to last. By putting in heart and soul into each design, the company’s goal is to make dressing up easy, effortless, and pleasurable.

    ShopClues | Indian Online Marketing Website | Company Profile |
    Company Profile is an initiative by StartupTalky to publish verified informationon different startups and organizations. The content in this post has beenapproved by the organization it is based on. Today, the marketplace is flooded with several e-commerce options for shoppersto choose from. It …
    StartupTalkySarika Anand

    PostFold—Business Model

    PostFold is direct to consumer brand. The company designs sources everything in-house and works with manufacturing partners to give life to its creation. It has eliminated all middlemen from the process so that customers get access to the best quality at honest and real prices. PostFold clothing is available on its own site and apart from it in e-commerce sites like Myntra, Koovs, and Limeroad.  

    Major USPs of PostFold apparels are-  

    • Fabric: Quality is their highest priority; they source high-quality fabrics like the world’s best quality cotton called Supima Cotton. PostFold is one of the only two retailers in India authorized to sell Supima. This cotton is grown in the US and only 3% of the world’s cotton is worthy of being called Supima.  
    • Fits: Fitting is still a major issue when it comes to online shopping in India, as there are majorly five sizes available. With the help of experienced fit-technicians based on the average Indian body type and the fabric used by PostFold has created a size for every body type.  
    • Mood-based buying: With the help of the stylists, PostFold has created five moods for various situations like Sunday Brunch, Saturday Night, Traveling, etc. It is also planning to add more styles for suiting on various occasions.

    Bewakoof Success Story – Business Model | Revenue | Founders
    Company Profile is an initiative by StartupTalky to publish verified informationon different startups and organizations. The content in this post has beenapproved by the organization it is based on. When most of the fashion portals are talking about being all chic and classy,there is one that pr…
    StartupTalkyRishabh Rathi

    PostFold—Challenges & Future

    PostFold is currently self-funded.

    Startup Challenges

    The most challenging part for PostFold has been to stand out in a very crowded market. It sticks to its mission of providing great quality and affordable prices to keep afloat among the competitors. Besides, PostFold is also one of the only few licensed Supima cotton retailers in India. Supima cotton is the softest cotton in the world.

    Competitors

    Some competitors of PostFold are-

    • Andamen
    • Cover Story
    • March Tee

    Advisors and Mentors

    PostFold is growing under the able guidance of Mr. Anoop Thatai (CEO & Joint Managing Director at Orient Craft) and Mr. CP Gurnani (MD and CEO of Tech Mahindra).

    Awards

    PostFold has been awarded the BW Businessworld Future of Design Awards 2018- Finalist for the Supima® Knit Shirt.            

    Growth & Future

    In the past three years, PostFold has created a niche for itself within affordable fashion while managing end-to-end operations in-house – from manufacturing right up to design while utilizing high-quality fabrics. This not only keeps fixed costs low but also helps ensure that the garments are ethically produced (social audit) as every process can be audited. The Company has been able to achieve a month-on-month growth of almost 35%. PostFold is not only carving a niche for themselves but also coming up strong in a industry dominated by the big horizontal marketplaces.

    “At PostFold, we make a conscious effort to ensure that every garment that is manufactured and sold by us is ethically produced. Our goal is not only to ensure the best quality product but also to assure the lives involved in crafting these products are treated ethically and live a comfortable life. Every factory that manufactures for PostFold is first audited and certified for fair trade practices by us. We believe that if the people making our garments are happy and taken care of, the garments coming out of that factory will automatically be of better quality. We personally make sure to visit each factory before we start working with them.”- says Ashish.

    DesignerPeople Success Story – Branding and Design Agency for Startups
    Proper branding, packaging and marketing are very important for a brand to makeit stand out among its competitors. These are something which helps a productdraw customer attention and trust. As such, any business big or small cannotignore the need for apt branding and marketing of its products an…
    StartupTalkyChayanika Goswami

    Fashion Industry In India

    The Indian retail industry witnessed a huge growth curve after the emergence of e-commerce and its impact on the fashion industry is very eminent. The fashion market in India is currently estimated at USD 70 billion, of which only 25% is the organized retail market. E-commerce is a key channel for fashion and the online fashion market is projected to grow 3.5 fold to reach USD 14 billion by 2020.  

    Also, in 2017, the total number of online transactions was 200 million. This is expected to increase by 65% by 2020. Of the online transactions, 60 million are online fashion shoppers, which are estimated to double by 2020 to about 120 million.

    There are many clothing brands that are emerging that have led a huge competition in the clothing industry. The big clothing brands are going to lead the market with healthy competition from the new brands. Let’s see what the future has for PostFold.

    Leave your comments down below about your experience and take on the emerging clothing brand. We would love to see your comment on our page. Happy Reading.

    The Rise Of E-commerce Industry In India
    With growing internet penetration and disposable incomes, people of India areexperiencing a massive change in their shopping habits. People from all frontsof life are using their smartphones to buy products and items. With the bigthree— Amazon, Walmart, and Alibaba—entering the E-Commerce sector …
    StartupTalkyDevashish Shrivastava

    FAQ’s

    Who is the owner of PostFold?

    PostFold was founded by Aashray Thatai and Ashish Gurnani, two guys from New Delhi, who are both alumni of Northeastern University, Boston.

    Who are the mentors of PostFold?

    PostFold is growing under the able guidance of Mr. Anoop Thatai (CEO & Joint Managing Director at Orient Craft) and Mr. CP Gurnani (MD and CEO of Tech Mahindra).

    What is PostFold’s Business Model?

    PostFold is direct to consumer brand. The company designs sources everything in-house and works with manufacturing partners to give life to its creation.

    Who funds PostFold?

    PostFold is currently self-funded.

    What is the future for PostFold?

    The Company has been able to achieve a month-on-month growth of almost 35%. PostFold is not only carving a niche for themselves but also coming up strong in a industry dominated by the big horizontal marketplaces.

  • Unicommerce-The first choice of every E-commerce store| Unicommerce case study

    Today the primary growth engine for any business is to have its e-commerce presence. With the change in business due to technological advancements, it is imperative for all businesses to work on e-commerce platforms. The meteoric growth that the e-commerce industry has witnessed in the recent past has also given rise to several e-commerce challenges. Many studies claim that e-commerce is expected to take over 22% of the industry by the year 2023. With such an increasing demand for e-commerce and online business, riding the commerce wave is so not easy, still Unicommerce has managed to be the first choice of every eCommerce store.

    Impact of e-commerce on total economy
    Impact of e-commerce on total economy

    The digital world has compelled businesses to adopt digital solutions to complex supply chain issues and many other challenges that prevail in the e-commerce websites. Technologies like payment gateways, SaaS (software as a service) based solutions; effective inventory management, efficient delivery systems, and many other aspects are becoming more prominent with time.

    Unicommerce is one such company that helps businesses to overcome the complex challenges of e-commerce. Know more about the Unicommerce startup in this article.

    Highlights
    What is Unicommerce?
    How Unicommerce was formed?
    Initial Challenges that Unicommerce faced
    Features of Unicommerce
    Competitors of Unicommerce
    Achievements of Unicommerce
    Unicommerce – FAQs

    Highlights

    Startup Name Unicommerce
    Headquarter Gurgaon,Haryana, India
    Sector Tech Serivces
    Founders Ankit Pruthi, Vibhu Garg and Karun Singla
    Founded 2012
    CEO Kapil Makhija
    Website www.unicommerce.com

    What is Unicommerce?

    About Unicommerce

    Found in the year 2012, Unicommerce is a platform that is leading globally in providing e-commerce solutions to manufacturers, distributors, wholesalers, retailers, sole proprietors, and e-commerce sellers. The platform enables users to automate their supply chain operations for online and offline stores for making more sales.

    Unicommerce enables businesses to sell at multiple marketplaces and carts at the back end. It comes pre-integrated with more than 100 leading market places, carts, shipping companies, accounting, and Enterprise Resource Planning software. Unicommerce is a cloud-based SAAS (software as a service) solution where there is no need of having separate investments required for servers hosting, etc. The attractive factor about the platform is that it adds new features and functionality to the product almost every month and keeps value proposition at the highest priority.

    In the very initial years, Unicommerce was regarded as the backbone of the e-commerce supply chain industry. The company was receiving almost 100 million + orders annually. The company has its presence in more than 250+ cities in India and the Middle East. Since its inception, the company has seen immense growth and has been profitable in India and the Middle East as well.

    How Unicommerce was formed?

    Three friends and Delhi IITians- Ankit Pruthi, Karun Singla, and Vibhu Garg came together in November 2011 to start a set up their own venture. At that time they knew each other for about 12 years. While Ankit and Karun were working at corporate, Vibhu had just quit iXiGo. The trio had quit their jobs after they were sure about their intentions to set up a venture related to e-commerce since at that time it had just started blooming in India and had a lot of potentials.

    After doing a lot of research and brainstorming, they shortlisted two options, either to start a venture that simplified the payments or to go for a business that would provide warehousing solutions. After discussing with many players in the market and taking their suggestions, they finally decided to work on SaaS based warehousing solutions, and in February 2012, they registered their company and this is, How Unicommerce was formed.

    Initial Challenges that Unicommerce faced

    Clientele base
    Clientele base

    The biggest initial challenge for Unicommerce was to get the faith of e-commerce companies in their product Uniware. It took the organization time to get the faith of e-commerce businesses in their warehouse and inventory management system. The solution then was to give them detailed explanations and plans to work with them.

    The very first client of Unicommerce was Histreetlabels. The major challenges were to convince clients about the solutions and data safety and security since it was cloud-based. Things started going well when e-commerce giants like Jabong, Snapdeal, Cartlane by Tanishq, and many others started using Uniware.

    Features of Unicommerce

    • Warehouse Management Solutions
    • Warehouse Inbound and Outbound Processes
    • Logistics management
    • Shipment Tracking
    • FIFO based stock picking
    • Auto inventory replenishment management
    • Hassle-free merge of online and offline sales
    • End to end automated order fulfillment
    • Returns Management
    • Accounting
    • Shipping
    • Advanced Analytics
    • Simplified Dashboards
    • Customized Reports
    • Omnichannel Solution
    • Mobile application

    And a lot more.

    Software as a Service (SaaS) Revenue Model
    For customers, the benefits of the SaaS model are clear. It brought lowercosts, lower commitment risk, and a try-before-you-buy model, which gavecustomers a remarkable opportunity to assess a product before making a purchase.Indeed, the benefit is so clear that a 2017 study conducted by BetterCl…
    StartupTalkyRishabh Rathi

    Competitors of Unicommerce

    Even though Unicommerce was an early mover in the industry of e-commerce solution provider, now there are many other players in the market that offer similar services.

    Here are the top seven Unicommerce competitors in India:

    • Browntape
    • Easy Ecom
    • OMS Guru
    • Prima Seller
    • Webgility
    • Fishbowl Inventory
    • Zoho Inventory

    Achievements of Unicommerce

    YEAR ACHIVEMENTS
    2013 In Red Herring Asia 2013, Unicommerce was one of the finalists
    2014 Unicommerce was entitled to be one of the Most Promising Cool Startups of the year
    2017 Unicommerce was named to be among the Best Warehouse Management Technology Solution Providers by CIO Review.

    Unicommerce – FAQs

    What is Unicommerce?

    Unicommerce is a platform that is leading globally in providing e-commerce solutions to manufacturers, distributors, wholesalers, retailers, sole proprietors, and e-commerce sellers.

    What does Unicommerce do?

    Unicommerce helps businesses to overcome the complex challenges of e-commerce.

    Who is the founder of Unicommerce?

    Ankit Pruthi, Vibhu Garg and Karun Singla are the founders of Unicommerce.

    Ecommerce Trends in the Indian Ecosystem
    Disruptions are the need of the hour. This applies to the eCommerce in India aswell. With the emergence of new competitors in the online segment, establishedplayers such as Myntra, Flipkart and Amazon, are reinventing their way offunctioning to stay at the top. The new strategies being employed c…
    StartupTalkyPiyush Mishra

  • Boonbox- Taking Online Shopping to Rural India

    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 Boonbox.

    The advent of e-commerce in India in the past decade has been unprecedented. While a huge chunk of the population in Indian cities are reaping the benefits of e-commerce, the rural areas still remain untouched by the effects of digitization.

    With the masterly vision of taking e-commerce to rural India, the co-founders-Ramachandran Ramanathan, Karthik Natarajan, Narayanan launched Boonbox in 2013.

    Boonbox – Company Highlights

    Startup Name Boonbox
    Headquarter Chennai
    Founder Ramachandran Ramanthan, Karthik Natarajan & Narayanan
    Sector E-commerce
    Founded 2013
    Parent Organization Inthree Access Services Private Limited
    Website inthreeaccess.com

    About Boonbox and How it Works
    Boonbox – USP
    Boonbox – Target Market
    Boonbox – Founders and team
    How was Boonbox Started
    Boonbox – Name, Tagline and Logo
    Boonbox – Business Model and Revenue Model
    Boonbox – User Acquisition
    Boonbox – Startup Challenges
    Boonbox – Competitors
    Boonbox – Funding and Investors
    Boonbox – Advisors and Mentors
    Boonbox – Growth
    Boonbox – Future Plans

    About Boonbox and How it Works

    Given the great idea and insight on which this startup is based, this is how the business functions. Boonbox has a local affiliate in each of the towns/villages that they are located in. These local affiliates assist the consumers with the products available in the application. These affiliates place the orders on the consumer’s behalf and collect the money. These products are delivered by Boonbox through their hub & spoke fulfillment model.

    In rural areas, there can’t be a platform to start a business as the ecosystem does not exist. Boonbox is an integrated player in this ecosystem. It owns the ecosystem and this is difficult to replicate. Creating connectivity takes time and requires a deep understanding of rural purchase patterns and consumer behavior. And Boonbox team has decades of experience in building rural networks.

    The rural ecosystem has a lot of human elements associated with it. There is touch and feel of human connectivity. To be a successful startup in rural India, the required building blocks are human touch, credibility & trust, accompanied by an integrated ecosystem. As Boonbox has been able to selectively identify the relevant trust elements within rural communities and has built them over the years, this platform is viewed as a trusted element in the rural ecosystems. Boonbox pivoted from being a single product seller to a multi-category catalog that empowers the rural customers with choice and convenience. The venture was pivoted in the year 2015.

    Boonbox is a technology platform for providing products and services to consumers who live in tier-4 towns and villages and are deprived of access to these products. Through the company’s “Rural Last Mile” logistics network, products are delivered at the doorstep of the consumers in remote villages. Boonbox also ensures that regular follow-up takes place with the customers, and promises them after-sale service to provide a top-class purchase experience.

    Boonbox – USP

    Boonbox chennai based startup, is an unique venture that aggregates the demand of rural customers and fulfills them by placing an order with the merchant. In simple words, it’s a vehicle to enter the rural markets. The main idea of the startup is to be a desired brand for every rural household and be a part of their everyday lives. Also, Boonbox is of the ideology that every rural customer craves and deserves a top-class customer experience. With Boonbox online shopping has never been easier for the rural population!

    Simplest and Free Website Builder with Hosting for SMEs – UENI
    Company Profile is an initiative by StartupTalky to publish verified informationon different startups and organizations. The content in this post has been approved by the organization it is based on. The number of internet users is witnessing a rapid growth. According to GlobalDigital 2019 repor…
    StartupTalkyChayanika Goswami

    Boonbox – Target Market

    Boonbox was selling solar lamps in Rural Tamil Nadu and Karnataka during the peak power crisis in 2012-13. While seeking customer feedback, the Boonbox team received responses that indicated demand for Mobile Phones, White Goods (TV, Fridge, Washing Machine) and also Induction Stoves and Mixer Grinders. All these products were wanted by rural consumers during the peak power crisis. Thus, throughout the entrepreneurial journey, seeking customer feedback helped them deduce that Rural Customers are ASPIRATIONAL and CONSUMPTION is driving the Rural Economy.

    70 % of India which is close to a billion people live in Rural India. Rural India contributes to 47% of the country’s GDP. And these statistics were sufficient enough to indicate a massive market in a less than 30,000 population towns. These people in those towns were the target market of Boonbox.

    ” We foresee a consumption explosion in Rural India and expect Rural India to lead India’s economy in the next 5 years.” said the Co-founders of Boonbox positively.

    Boonbox – Founders and team

    Ramachandran Ramanthan, Karthik Natarajan and Narayanan are the Co-founders of Boonbox.

    Co-Founders Boonbox
    Ramachandran Ramanthan, Karthik Natarajan and Narayanan

    The trio has an exciting story about how all of it began! While Ramachandran Ramanathan and Karthik Natarajan were colleagues, they met Narayanan through a common friend. Narayanan had created the rural network in Tamil Nadu for Tata Teleservices and immediately caught on to the potential of the idea. The co-founders then went on to build the team by selling a dream, which made many people leave their lucrative jobs in the corporate world to join in the Boonbox adventure. The fact that they were working in an exotic area, a white space, building for Bharat and also generating cash in the business, attracted many people to the Boonbox team.

    Ramachandran Ramanathan is a Chartered Accountant by qualification. He has also held senior management positions in the RPG, ICICI and TVS groups. Boonbox adventure is a great opportunity for him to follow his passion i.e., to create business strategies in uncharted markets and build a great team for scaling the business.

    Boonbox co-founder Ramachandran Ramanthan

    Karthik Natarajan is a management graduate from a financial services background with stints at Citigroup and Fullerton. Karthik is the ‘Zero to One’ man in the co-founder circle and his strength is his excellent ability to smell business opportunities and develop concepts into businesses.

    Narayanan is also a management graduate who worked extensively in the telecom world straddling all the major brands including Airtel and Tata Teleservices. A meticulous planner, he works on business excellence and takes the Boonbox businesses to scale.

    How was Boonbox Started

    The idea to take on the rural markets with a technology platform struck to the co-founders Ramachandran Ramanathan and Karthik Natarajan when they were working on the TVS group. TVS’s consumer strategy was architected by the late Dr.C.K.Prahalad and focused entirely on capturing the rural markets. These two co-founders were working on creating alternate networks in rural markets and while doing that, the massive potential of this white space dawned upon them.

    Boonbox was built based on these two co-founder’s experiences in the rural market. In fact, they did not do any formal market research. Instead, they focused on using customer feedback as a mechanism to drive Boonbox to success.

    Specialists were consulted to come up with the name Boonbox. The co-founders finally zoomed in on Inthree which is a Coined Name – coined from the ethos of the business which is the Inner India Initiative. Inthree is the registered name and BoonBox is its customer-facing platform. So Ideally the Boonbox company is a sister concern of Inthree and is launched in select districts of TamilNadu and Karnataka. Which is why the Boonbox website can be accessed from inthreeaccess.com.

    Boonbox Logo
    Boonbox Logo

    Boonbox – Business Model and Revenue Model

    The Boonbox business model is simple, it takes orders from rural customers and delivers products to their households. Considering that the rural market has a broken ecosystem and a virtually non-existent distribution network, this venture gets both the distributor and retailer’s margins which makes Boonbox’s Unit Economics very strong.

    How To Do Marketing In Remote Areas | Strategies To Rural Marketing
    The emergence of Rural and Remote areas into marketing is untapped potential andso there’s an emphasis on the need to explore them. Marketers over the past fewdecades, with innovative approaches, have attempted to understand and giveopportunities to rural markets. Rural marketing is an evolving c…
    StartupTalkyAvantika Bhardwaj

    Boonbox – User Acquisition

    Rural India is characterized by a huge trust deficit. Boonbox has sold products to 2.5 million customers to date. Their focus is mainly on customer experience and to ensure that every single customer complaint is addressed on time and they now have 2.5 million happy customers. The rural market works on word of mouth marketing and Boonbox is a formidable brand now. Hence the key strategy for Boonbox has been to focus on customer experience since the initial days.

    Boonbox – Startup Challenges

    Rural is a white space, the founders had no benchmarks to follow. The company’s business model was formulated after multiple iterations and is not more than three years old. The model is based on continuous learning and building on the co-founder’s experiences. Also, It is not something that others can replicate over a short period. Boonbox is consistently working towards solving two major challenges :

    • Gaining the trust of consumers living in towns and villages with a population of 30,000 and below
    • Catering to customers who live in locations without a proper address or pin code. In such areas, it’s important to ensure that products reach customers on time.

    This venture is the pioneer in this field and the co-founders are continuously trying their experiments and learning from them. There have been as many failed experiments as successful ones, as the business itself is one huge hack!

    34 Business Ideas To Implement In Rural Areas [In 2020]
    This post describes some incredible rural business ideas that can be launched ona full-time basis or as an afterthought. If you live in a rural area, it mayseem hard to think of business ideas. Numerous business sectors that are easilyaccessible in huge urban areas are not available in the case o…
    StartupTalkyDevashish Shrivastava

    Boonbox – Competitors

    Though Boonbox does not have any direct competition in the market. But unicorns like Flipkart, Snapdeal and Amazon have been trying to get inroads in rural markets, some e-commerce startups like iPay and StoreKing solely focus on rural markets.

    Boonbox – Funding and Investors

    Boonbox has raised a total funding worth INR 34 Crores in two rounds till date.

    Date Stage Amount Investors
    August, 2014 Angel 9 Crores IAN, Keiretsu Forum Chennai
    August, 2018 Series A 25 crores Ventureast, Orios & IAN Fund

    Boonbox – Advisors and Mentors

    Boonbox does have mentors who have contributed their ideas in Business Strategy, Customer Experience and HR throughout the entrepreneurial journey.

    TruckSuvidha Company Profile – Find Truck Loads Online | Funding | Revenue
    Company Profile is an initiative by StartupTalky to publish verified informationon different startups and organizations. The content in this post has beenapproved by the organization it is based on. Trucks play a very important role in the Indian transportation sector. Studies[https://www.itln.in/pharma-logistics-explosive-growth-on-the-anvil/…
    StartupTalkyChayanika Goswami

    Boonbox – Growth

    Boonbox operates in 16 States. This includes acquiring customers and delivering products to 3,00,000 villages which accounts for 47% of India’s universe of villages. Since inception and till date, Boonbox has sold products in rural markets totaling to INR 450 Crores.

    Boonbox is the largest rural partner for Samsung mobiles and has been the largest partner for them for the last three consecutive years. Some of the other products and brands include:

    • Consumer durable: Samsung, Panasonic, LG, Whirlpool
    • Kitchen appliances: Prestige, Preethi, Premier, Jaipan, Hawkins, Butterfly

    Boonbox – Future Plans

    The Co-founders are expecting to close 2019 with a turnover of INR 300 Crores, and with a Gross Profit of INR 75 Crores. They are expecting to reach a turnover of INR 1,000 Crores by 2022.

    The long-term plan of the venture is to be a pan India player, providing products at customer’s doorstep in remote villages and that too backed by top-notch customer experience. Given that the following are the goals for the coming decade:

    • Become a multi-service offering for the rural consumer
    • Building a robust direct channel for selling to the consumer with a fintech offering
    • Adding categories like FMCG, fashion, apparel to the product mix in addition to mobile phones, consumer durables, kitchen appliances, and cookware
    • Designing subscription models that can be relevant for the rural consumer
    • Creating loyalty and membership programs to build long term value for customers

    There’s ideally nothing better than growing together. Boonbox’s initiative of empowering rural India with the services that they deserve is a marvelous concept. After all, great businesses are always built out of satisfying needs rather than creating wants.

    Frequently Asked Questions – FAQs

    Who are the Founders of Boonbox?

    The Co-founders of Boonbox are Ramachandran Ramanthan, Karthik Natarajan and Narayanan.

    What is Boonbox?

    Boonbox is an unique venture that aggregates the demand of rural customers and fulfills them by placing an order with the merchant on their behalf and delivers it to the individuals.

    Is Boonbox only available in Chennai?

    No, Boonbox operates in 16 States including Chennai and are planning on expanding further.