With the issuance of 17.57 lakh stock options under ESOP 2024, online travel aggregator (OTA) Ixigo has extended its employee stock option plan (ESOP). The company stated in an exchange filing that the issuance of 17,57,156 options under ESOP 2024 was authorised by its nominating and compensation committee.
Each option will convert into an equal number of equity shares, and they will vest over a four-year period in equal annual increments of 25% each. At an exercise price of INR 93 per share, the options have been granted.
The Reason Behind This Move
Ixigo stated that the goal of the allocation is to retain and reward the finest talent, just like it is for issuing ESOPs. Additionally, the business stated that it wishes to provide current staff with additional pushed prizes.
The announcement was made just days after Ixigo released its second-quarter FY25 financial results. In the September quarter of 2024, its consolidated net profit fell 51% to INR 13.08 Cr from INR 26.70 Cr in the same quarter the previous year. On a sequential basis, profit decreased from INR 14.85 Cr by 12%. The main cause of the earnings drop was an increase in total tax costs, which in Q2 FY25 was INR 5.26 Cr.
Acquiring 51% Stake in Zoop Web Services
In addition to its financial results, the firm disclosed that it had paid INR 12.54 Cr ($1.4 Mn) for a 51% investment in train food delivery startup Zoop Web Services, which was acquired through a combination of primary and secondary share transactions.
Several public startups have announced the issuance of stock options under ESOP programmes in recent months. IdeaForge, a drone business, gave its staff more than 2,600 stock options earlier. The supply chain giant Delhivery also gave its workers roughly 73,000 stock options earlier this month.
Current ESOP Scenario in India
According to a 2024 survey of 160 companies, 78% of them offered employee stock option plans (ESOPs) to their staff, a considerable increase from 59% in 2021. This indicates that ESOPs are becoming more and more popular among startup owners. More firms are now offering ESOPs to all employees, not only senior management, according to a survey done by Saison Capital, XA Network, and Carta. Compared to one in four in 2021, one in three firms now provides these plans to all employees.
Furthermore, the median ESOP pool size grew from 9% in 2021 to 12.6% in 2024, and 90% of founders now talk about ESOPs with candidates during interviews or job offers, up from 75% in 2021. Additionally, the reasons for providing ESOPs have changed; in 2024, 40% of founders cited cost reductions, up from 28% in 2021.
The founders cited the necessity to retain people as the second most important reason for putting these plans into action, behind creating a sense of ownership and company culture. Even with this increase, fewer than 30% of founders still fully understand the complexity of ESOPs, a percentage that hasn’t changed since 2021.
The outstation electric bus service provider Fresh Bus, with headquarters in Bengaluru, received a Series A investment round of INR 43.6 crore, or around $5.3 million. The third fundraising round, led by Saama Capital, was backed by ixigo, a market peer.
The corporate board has approved a special resolution to raise INR 43.68 crore by issuing 2 equity shares and 63,825 Series A Compulsory Convertible Preference Shares, with an issue price of INR 6,845 each. This calculated action has provided Fresh Bus with the much-required funding for its ambitious development and growth objectives.
Investments in the Fresh Bus platform’s innovation from prominent figures like Kunal Shah (Founder and CEO of CRED), Sudarshan Venu (CEO of TVS Motors), and Deepak Garg (CEO and founder of Rivigo) helped the company secure INR 7.5 crore in its second round funding last year.
How Is It Planning to Utilize Freshly Raised Funds?
Fresh Bus’s performance reflects a growing need for eco-friendly, convenient transportation options in India. A battery-powered electric engine powers the Fresh Bus, reflecting the growing concern for the environment among the locals. And with this, the firm is supposedly better positioned for future expansion.
The geological change for Fresh Bus would be brought about by the Series A finance of INR 43.6 crore. With the support of ixigo and other investors, the company is well-positioned to scale up and try to change the way people see bus travel in India. Fresh Bus will benefit from ixigo’s strategic investment in the form of a larger user base and access to technical knowledge. Significant expansion for Fresh Bus is on the horizon as a result of this.
How Company Is Preparing to Tackle the Ongoing Challenges?
Fresh Bus’s concept of concentrating on providing customers with an exceptional traveling experience through the utilization of electric buses is unique, even if it faces intense competition in the online bus aggregation and operation market from companies like IntrCity SmartBus, ZingBus, and gogoBus. Modern travelers demand this kind of service, and Fresh Bus provides it with amenities like personal charging stations and real-time air-quality monitoring.
Here, the fact that Fresh Bus has received funding from ixigo—an early player in the Indian travel platform—is indicative of the opportunity and promise that the company offers.
About Fresh Bus
Fresh Bus, established in 2021 by Sudhakar Reddy Chirra, is a contemporary bus service that is specifically engineered to ensure the safety and convenience of its customers. To ensure the highest quality of service, its fleet of buses is equipped with technology that can be monitored in real-time around the clock.
The ride throughout the year 2021 was a turbulent one. There were many things taking place simultaneously. Many things were also happening for the first time or creating records. One of the similar record-breaking things that occurred throughout the year 2021 was the companies going public.
More than 63 companies went public in 2021 together raising the amount of Rs 1,19,882 crore. This was the newest formed record of raising the highest funds through IPOs breaking the old record of Rs 75,279 crores formed in 2017.
Following the given data and current market conditions. There can be some debate on Indian Companies going public. Amongst the list of multiple companies going public, below given is the list of startups and companies going public in India in 2022.
Bajaj Energy Ltd. is an Uttar Pradesh based company launched in 2008 working in the field of thermal energy plants. It is one of the largest private-sector thermal generating companies dealing with the financing, operating, and generating of thermal power. The recorded revenue for the year 2021 was above the range of 500 cr.
Bajaj Energy is also listed in the companies going public to pay debts and acquire partners’ stakes. With the listing, the company intends to raise Rs 5450 crores. Amongst them, Rs 5150 crores belong to the newly issued IPO, and the remaining Rs 300 crores an offered for sale shares.
2. Aadhar Housing Finance
Aadhar Housing Finance Logo
Aadhar Housing Finance is the largest housing finance company launched in 1990. The revenue collected by Aadhar Housing Finance in 2021 was about 1363.36 crores rupees. For the year 2022, Aadhar Housing Finance is listed as an IPO with an issue size of Rs 7300 crores. The funds collected will be used to boost their capital base. Amongst Rs 7300 crores, freshly issued shares are worth Rs 1500 crores, and the remaining Rs 5800 crores are offered as a resale.
3. Studds Accessories
Studds Accessories Logo
Studds Accessories is a well-known name for two-wheeler accessories. It was introduced in 1983 to provide two-wheeler accessories and related products. The revenue collected by Studds Accessories in 2021 was about Rs 479.62 crores. Studds Accessories will take the chance to raise Rs 450 crores with Rs 98 crores as a freshly issued and Rs 39.39 lakhs as an offer for shares by going public in 2022.
4. Arohan Financial
Arohan Financial Services Logo
Arohan Financial Services is the leading Non-banking financial company- a microfinance institute launched in 1991. It provides loan services in financially low-Income states of India. The operating revenue calculated by Arohan Financial Services in 2021 was above Rs 500 crores. Arohan Financial is also listed for IPO with an issue size of Rs 1800 crores. Amongst them, Rs 850 crores will be issued freshly and the remaining will be Offer for sale (OFS).
5. ESAF Small Finance Bank
ESAF Small Finance Bank Logo
ESAF Small Finance Bank is one of the leading banks introduced in 2016. The bank works towards providing several services such as client base size, net interest margins, etc. The operating profit recorded by ESAF Small Finance Bank in 2021 was about Rs 415.84 crores, a 28.07% increase from earlier. ESAF Small Finance Bank is also listed as a company going public in 2022 with a total issue size of Rs 998 crores. Within them, the freshly issued size is Rs 800 crores and the remaining Rs 198 crores are from OFS.
6. OYO
OYO Logo
OYO is a new-age technology platform giving out hospitality services. It is one of the leading platforms in the hospitality sector since the time of its introduction in 2012. The total revenue of OYO for 2021 was about Rs 41750 crores. There was a drastic decrease noticed in the revenue of OYO from 2020 to 2021 all because of the pandemic. However, for a better future, OYO is also listed for IPO 2022 with a total issue size of about 8430 crores with freshly issued shares of Rs 7000 crores and an offer for sale of Rs 1430 crores.
7. Snapdeal
Snapdeal Logo
Snapdeal is an Indian leading e-commerce company founded in 2007. Snapdeal was originally launched as a coupon booklet platform, however, in 2010, it was fully converted into an online shopping platform.
Revenue collected by Snapdeal in the year 2021 was about Rs 471 crores which was about 44% less than the previous year. Snapdeal is all prepared to raise funds from the IPO of freshly issued shares of Rs 1250 crores and some other OFS shares of the present investors and shareholders.
8. Delhivery
Delhivery Logo
Delhivery is a new age India-based logistics service company inaugurated in 2011. Delhivery works towards providing multiple facilities such as express parcel deliveries, good deliveries, cross-border supplies, etc. The revenue collected by Delhivery in 2021 was Rs 4644 crores with a 28% increment seen in its total income from the previous year.
Delhivery is also set to raise funds in 2022 by IPO with an issue size of Rs 7460 crores. Amongst them, Rs 5000 crores can be counted as freshly issued and the remaining shares can be taken as OFS.
9. Emcure Pharmaceuticals
Emcure Pharmaceuticals Logo
Emcure Pharmaceuticals is considered one of the leading pharmaceutical companies engaging in various services such as developing, manufacturing, and marketing medicines at a large level. Emcure was introduced in the year 1981 and now is considered the largest brand helping in the therapeutic areas of gynaecology, HIV antiviral, etc.
The revenue collected by Emcure Pharmaceuticals in 2021 was about Rs 6091.8 crores with a significantly increased income of Rs 418.6 from the previous year’s data. Emcure will also be raising funds through IPO for newly issued equity shares of Rs 1100 crores and some other OFS shares.
10. FabIndia
FabIndia Logo
FabIndia is India’s largest platform especially popular for its handmade products. It is a private platform that enables the sale of products made from traditional methods, skills, and techniques.
FabIndia was launched in 1976. The revenue collected by FabIndia in 2021 was about Rs 1059 crores with a fall of 30% in its revenue when compared with previous years’ data. FabIndia is looking forward to raising the funds through IPO for its purpose of global expansion by the issue size of Rs 4000 crores.
Droom is an operated marketplace easing out the process of buying and selling automobiles through its platform introduced in the year 2014. Droom operates with the help of a combination of an e-commerce platform integrated with a technology-driven prosperity ecosystem of products and services for the automobile industry.
Droom reported revenue of Rs 135.53 in the year 2021 with a slight increment noticed from the data for 2020. Droom will be going public to raise funds of an issue size of Rs 3000 crores.
12. Ixigo
Ixigo Logo
Ixigo launched in 2007 and operated by Le Travenues Technology is an Indian AI-based travel portal. It works to facilitate travelling by helping Indians with planning, booking and managing their trips of different modes. The recorded revenue of Ixigo in 2021 was about Rs 135.6 crores with a reported increment of 21% in its revenue from the previous year.
The list of IPO for 2022 also includes the name of Ixigo with a total issue size of about Rs 1600 crores. Within them, Rs 750 crores will be raised with freshly issued equity shares and the remaining Rs 850 crores will be OFS.
13. VLCC Healthcare
VLCC Logo
Vandana Luthra Curls and Curves (VLCC) is an Indian brand focusing on beauty and wellness products introduced in the year 1989. VLCC products are popular in the field of wellness and beauty products. Along with that, VLCC also works by training students with more than 95 institutes across India.
In the year 2021, VLCC reported a net income of about Rs 5,652.42 million, with a profit of Rs 62.42 million. In 2022, VLCC is expected to go public with the issue size of Rs 300 crores of newly issued equity shares and some OFS.
14. Hinduja Leyland Finance
Hinduja Leyland Finance Logo
Hinduja Leyland Finance Limited was incorporated in 2008 with the service of providing NBFC services to urban and semi-urban markets. It provides financing help for a large range of products falling in the category of vehicles and housing finances. The net worth of the company as reported by Hinduja Leyland Finance Limited in the year 2021 was about Rs 3825 crores.
There were significant changes seen between the years 2020 and 2021 due to the visible effects of a pandemic. Hinduja Leyland Finance Limited is about to raise funds from its initial public offerings of an issue size of Rs 700 crores. Amongst them, Rs 500 crores are freshly issued equity shares with the remaining as OFS.
15. Inspira Enterprise India
Inspira Logo
Inspira Enterprise India Pvt Ltd is a competent and professional provider of cyber security introduced in 2009. They provide digital transformation and cybersecurity services to their clients with bold thinking and path-breaking techniques.
The revenue collected by the company for the year 2021 was about Rs 803 crores. Inspira Enterprise India is also listed to go public in 2022 with an issue size of Rs 800 crores for foreign expansion.
16. Medi Assist
Medi Assist Logo
Medi Assist Healthcare Services Ltd offers a complete cashless hospitalization of customers through a network of healthcare service providers. It was launched in the year 2000 and mainly deals with the health insurance ecosystem. Medi Assist is also ready to raise funds through IPO in 2022 with a total issue size of about Rs 800 crores.
17. SAMHI Hotels
SAMHI Hotels Logo
SAMHI Hotels is one of the fastest-growing hospitality management companies since the time of its introduction in 2010. SAMHI Hotels mainly focus on the investment and development of international branded hotels across India.
From the year 2020 to the year 2021, there was a decrease in the revenue of SAMHI Hotels due to the presence of the pandemic period. SAMHI Hotels has a registered IPO of issue size Rs 2000 crores with Rs 1100 crores will be freshly issued shares.
18. Chemspec Chemicals
Chemspec Chemicals Logo
Chemspec Chemicals is a leading manufacturer of additives for FMCG ingredients worldwide. It was established in 1975. Chemspec Chemicals is also known to supply and manufacture Pharmaceutical drugs. Chemspec Chemicals has recorded its operating revenue to cross Rs 500 crores and it is estimated to go public with an IPO size of Rs 700 crores.
19. Shri Bajrang Power And Ispat
Shri Bajrang Power And Ispat Logo
Shri Bajrang Power And Ispat was founded in 2002 and is considered a major steel producer. It is considered one of the leading integrating steel companies working towards providing different products such as TMT bars, billets, sponge iron, etc.
As per the president of the company Shri Bajrang Power And Ispat, the revenue noted for the year 2021 was around Rs 3,031.21 crores with a net profit of Rs 312 crores. It is also listed for IPO with an issue size of Rs 700 crores planning to halve its debt by using funds.
20. SREI Equipment Finance
SREI Logo
Established in 1989, SREI Equipment Finance deals with infrastructure financing services throughout India. The company provides a loan facility for the purchasing of various equipment used in the construction industry, irrigation, IT infrastructure, etc.
The recorded revenue of SREI Equipment Finance is about Rs 522.78 crores in 2021. The company is looking to launch its IPO at the desired time with an issue size of Rs 2000 crores. In them, 1100 are freshly issued equity shares and the remaining are OFS.
Launched in 2008, Gemini Edibles and Fats Oil works in the business of manufacturing and marketing edible oils and fats. They are also considered one of the leading palm oil plantation companies across the globe. For the year 2021, the revenue collected by Gemini Edibles was about Rs 7,765.96 crore with Rs 185.85 crores.
Unlike other businesses, Gemini Edibles saw not much change in its demand as the demand for cooking oil was increased by houses whereas, on other hand, restaurants and hotels saw a sharp decline in demand hence equalizing the situation. For the year 2022, Gemini Edibles and Fats Oil are listed under the IPO list with an issue size of Rs 2500 crore from OFS.
22. Sterlite Power
Sterlite Power Logo
Sterlite Power founded in 2010 works as one of the leading private sector power transmission infrastructure developers and solutions providers. Sterlite Power owns and manages power transmission assets across India.
As per calculations the revenue collected by Sterlite Power is above Rs 500 crores but with a 26% decline in its operating revenue from the previous year’s data. Sterlite Power is listed in the IPO list 2022 with a freshly issued size of Rs 1250 crores. The raised funds will be mainly used to repay its debt.
23. Paradeep Phosphates Limited
Paradeep Phosphates Logo
Paradeep Phosphates Limited [PPL] was established in 1981 and is now considered India’s third-largest producer of non-urea fertilizer and the second-largest producer of di-ammonium Phosphate. PPL deals with the production, trading, and distribution of various fertilizers.
The total revenue recorded by PPL for the year 2021 was about Rs 5183.94 crores which was slightly higher than last year. PPL is planning to raise Rs 1255 crores from fresh sizes issued. These funds will be used to pay debts and to partly finance the acquisition of a fertilization manufacturing company in Goa.
24. Fincare Small Finance Bank
Fincare Logo
A smart banking platform launched in 2017 with its prime focus on unbanked and underbanked customers to get banking services with smart technology. The model of Fincare works by providing needed financial aid to businesses or individuals through the help of technology.
The revenue collected by Fincare in 2021 was about Rs 674.99 crore with a net profit of Rs 101.98 crores. Fincare Small Finance Bank is also known to raise funds through Initial Public Offerings of the issue size of Rs 1330 crores. Amongst them, 330 shares are newly issued and all others are from OFS.
Penna Cement is known to have its revenue above Rs 500 crores for the year 2021 with a significant increment of 13.06% in its net worth. Penna Cement is expected to raise a total of Rs 1550 crore through IPO. The funds raised will be then used to pay for borrowings, upgrading its law griding and cement mill, setting up a waste heat recovery plant, etc all at different places.
26. PharmEasy
Introduced in 2014, PharmEasy is a one-stop medical solution providing. They provide complete services from the booking of diagnostic tests to providing Over the counter medicines. They provide medical services such as radiology tests with the home delivery of needed products. The revenue collected by PharmEasy in 2021 was about Rs 2360 crore. PharmEasy has also participated in the upcoming IPOs list with an issue size of Rs 6250 crores.
27. Adani Wilmar
Adani Wilmar Logo
Adani Wilmar, founded in 1999 is one of the leading names in the edible oil industry. One of the most popular edible oils of Adani Wilmar is Fortune Oil. Adani Wilmar was known to be open on 27 January with a subscription of 17.37 times.
28. AGS Transact Technologies
AGS Transact Technologies Logo
Founded in 2002, AGS Transact Technologies is considered one of the largest integrated omnichannel payment solutions providers in India. They provide customized services and products mainly consisting of ATM and Cash recycler machines outsourcing, cash payment and digital payment solutions, etc.
The company recorded its revenue for the year 2021 as Rs 484.76 crores with a slight increment noticed in the revenue. For the year 2022, AGS will be going public with a total issue size of Rs 680 crores of IPO.
29. Vedant Fashions
Vedant Fashions Limited Logo
Introduced in 2022, Vedant Fashions Limited is a parent enterprise for some well-known brands such as Manyavar, Mohey, and Mebaz. The company Vedant Fashions Limited is considered a one-stop solution for every occasion by its customers.
The company was recorded to calculate less revenue collected from the year 2020. There was a gradual increment in its revenue from the year 2019 to the year 2020. However, it called for 38% in the year 2021 owing to the pandemic period. For 2022, Vedant Fashion is listed for raising funds through public offerings by the size of Rs 3149.19 crores.
30. Uma Export
Uma Exports Logo
Founded in 1988, Uma Export earlier was known to export and import building materials, however, in the current scenario, it is one of the leading exporters of agricultural products. The agricultural products are collected from the various parts of India to export and import to certain destinations.
The recorded revenue by Uma Export in 2021 was around Rs 260.94 crores with a net profit margin of around 1.72%. Uma Export is listed to raise funds by public offerings in 2022 with an issue size of Rs 60 crores.
Introduced in 1986, Ruchi Soya is the largest producer of edible oil in India. In 2019, Ruchi Soya was acquired by Patanjali Ayurved. Ruchi Soya has its prime focus on the business of processing oilseeds and refining crude oil to make it edible. Ruchi Soya is listed as Follow Public Offerings (FPO) consisting of freshly issued shares of about Rs 4300 crores.
32. Veranda Learning
Verdana Learning Solutions Logo
Established in 2018, Verdana Learning Solutions Private Limited is an e-learning platform giving out various career-defining courses. Courses can be found in a range of fields preparing one for the competitive exams or personal growth. The revenue collected by Veranda Learning in 2021 was around Rs 4.86 crores and a slight decline in its net profit margin. Veranda Learning is also listed for IPO with an issue size of Rs 200 crores.
33. Skanray Technologies
Skanray Technologies Logo
Incorporated in 2007, Skanray Technologies is considered one of the well-known players in the Indian medical device market. Skanray Technologies’ prime focus is to design, develop, manufacture and supply medical devices.
In the early five months of 2021, the revenue collected by Skanray Technologies was about Rs 88.8 crore rupees. The IPO size of the company is about Rs 400 crores. The funds will be invested in the required capital investment of the company along with some other basic investments such as inorganic plants and the company’s subsidiaries.
34. Five Star Business Finance
Five Star Business Finance Logo
Founded in 1984, Five Star Business Finance provided small loans to business owners and small mortgage loans to eligible candidates for their needs. It is registered with RBI as an NBFC company working with its underwriting model to provide secured finances. Five Star reported a gradual growth in its total income from the year 2020 to the year 2021 by the amount of Rs 787 crores to Rs 1051 crores respectively. The Five Star IPO issue size is Rs 2752 crores and it all comprises OFS.
35. Keventer Agro
Keventer Agro Logo
Introduced in 1986, Keventer Agro is considered the largest FMCG company in eastern India with its focus on packaging, dairy, and fresh food products. The company deals with multiple aspects of the food industry such as frozen food, beverages, export for food, etc.
The recorded revenue for the year 2020-2021 was around Rs 836.02 crores with a net loss of Rs 76.17 crores. The IPO size of Keventer Agro is about Rs 350 crores fresh issued and some other OFS. The funds will be used to be paid as debt and as a fund for the capital expenditure required by the company.
36. Tracxn Technology
Tracxn Technology Logo
Founded in 2013, Tracxn Technology is the combination of human analysts with Artificial Intelligence to work for the benefit of humans. It is considered a research firm that provides needed information for venture capitalists and corporate development offices through a large amount of data.
Tracxn reported a revenue of 100 crores with 70% of its revenue coming from outside of India. For Indian Market, Tracxn’s IPO issue size will be Rs 500 crores.
37. Apeejay Surrendra Park Hotel
Founded in 1987, Apeejay Surrendra Park Hotel is a hotel company providing services such as hotel rooms, dining restaurants, recreational and entertainment facilities, and providing venues for different purposes such as weddings, birthday events, etc.
The operating revenue collected by Apeejay Surrendra Park Hotel was between Rs 100 – 500 crores with a slight decline noticed from the year 2020 due to the pandemic period. Apeejay Surrendra Park Hotel is considered to go public with the issue size of Rs 1000 crores.
38. Harsha Engineers
Harsha Engineers Logo
Starting in 1986, Harsha Engineers is considered the largest manufacturer of bearing cages with almost 50% of the market share. They provide best-bearing cages with some other special-purpose stamped components. Harsha Engineers reported revenue of Rs 629.46 crores in the year 2021. Harsha Engineers is prepared to raise the funds through public offerings by the issue size of Rs 755 crores.
39. Annai Infra Developers
Annai Infra Developers Logo
Introduced in 2008, Annai Infra Developers belongs to the construction industry. They construct and sell multiple products such as water tanks, ponds, canals, roads, irrigation systems, etc. Annai Infra Developers will also be raising funds through IPO in the year 2022 of the issue size of Rs 250 crores.
40. Prudent Corporate Advisory Services
Prudent Logo
Started in 2000, Prudent Corporate Advisory Services Ltd is a leading investment providing solution company. It mainly deals with the financial services products such as Mutual funds, insurance, bonds, etc. The revenue for Prudent Corporate was counted as $412 million. Prudent Corporate is all prepared to raise its IPO in 2022 with yet to be declared OFS.
41. Tamilnad Mercantile Bank
Tamilnad Mercantile Bank Logo
Previously known as Nadar Bank, it was introduced in 1921. Tamilnad Mercantile Bank is one of the oldest private sector banks in India. Tamilnad Mercantile Bank calculated its revenue of 3,992.52 crores in 2020. For the year 2022, it is believed to raise funds through Public Offerings of 15.83 million freshly issued shares and 12.505 million shares from OFS.
42. Narmada Bio-chem
Narmada Biochem Logo
Established in the year 1996, Narmada Biochem is known to serve farmers for more than two decades. They are the leading manufacturer of world-class organic and biofertilizers. Narmada Biochem is noted to have its revenue in the range of Rs 100 – 500 crores. For the year 2022, it is planning to raise funds with an issue size of Rs 90 crores.
43. Popular Vehicles and Services
Popular Vehicles and Services Logo
Founded in 1984, Popular Vehicles and Services were introduced as the first batch of vehicle dealers by Maruti Suzuki. They are one of the popular automobile dealers with regional specific markets and centers The revenue noted by Popular vehicles and services in 2021 was around Rs 2,919.25 crores. They are also prepared to raise funds through IPO with an issue size of Rs 150 crores.
44. Fusion Microfinance
Fusion Microfinance Logo
Fusion Microfinance was started in 2010 with the thought of creating opportunities at the bottom of the pyramid. They provide financial help to un-served and underserved females from rural India. They focus mainly on increasing the come individuals to help increase the economic growth and prosperity of the whole country.
The noted revenue of the firm Fusion Microfinance in 2021 was about Rs 730.31 crores. They are also determined to raise funds through IPO 2022 by the issue size of Rs 600 crores and an additional OFS with 2,19,66,841 equity shares.
Conclusion
IPOs stand for Initial Public Offerings shared by any company or firm. Companies start taking investments from the public in return for the share of the firm. The amount collected by companies is then used for the advancement of the same firm. Many companies are opening up on getting public due to several situations. A list of companies going public in the year 2022 is shared above.
FAQs
Which is the best IPO in 2022?
Many IPOs are coming in the year 2022, some of the biggest and best ones are LIC. Other biggest IPOs of the year are Delhivery, Oyo, and PharmEasy.
Where can I get IPO data?
Bloomberg, Capital IQ, and CB Insights are some of the top sources to get complete information about upcoming IPOs.
Auto rickshaws are an essential medium of transportation in India, especially in Tier 2 and Tier 3 cities. However, the sector is still unorganized. Owing to this, auto-rickshaw drivers have been frequently spotted sitting idle, while many commuters have to face inconveniences finding auto-rickshaws. To fill this gap, Samar Singla and Chinmay Agarwal founded Jugnoo in 2014.
Jugnoo is India’s largest technology-driven on-demand auto-rickshaw aggregator, which connects riders with safe, reliable, and convenient auto-rickshaws with just a few clicks. Here is a detailed company profile of Jugnoo, complete with all about Jugnoo, its Founders, Funding and Investors, Business Model, Revenue Model, Name and Logo, Marketing Campaigns, and more.
Jugnoo initially started as an on-demand auto rickshaw service and introduced various user-friendly features to make it easier for users to book a ride. In 2016, Jugnoo introduced Jugnoo Bot, which allowed Facebook users to book a ride through Facebook Messenger, Jugnoo’s website, or its Facebook page. Jugnoo also offers a Multilingual interface for drivers, with over eight languages other than English.
As Jugnoo started gaining popularity as an auto-rickshaw aggregator, the founders leaped and launched various new services. The other services offered by Jugnoo are –
Dodo deliveries – It enables vendors to deliver goods to their customers. Dodo deliveries is now renamed as Jugnoo Delivery.
Flight map – It is a comprehensive routing solution, that solves travel salesman and vehicle routing problems.
Fatafat – Hyperlocal deliveries like food, grocery, veggies. Fatafat was shut down in October 2015. The service was launched again in Chandigarh in May 2016, after acquiring SabKuch Fresh.
Menus – The company had earlier launched Jugnoo meals. However, it was closed down in October 2015, and in 2017 it was re-launched as Menus. Jugnoo Menus has brought onboard popular restaurants and outlets like Burger King, Pizza Hut, Subway, Baskin Robins, Super Donut, Burger point, Rolla costa, Copper Chimney, Marky Momos and Dhaba.com
AskLocal – The AskLocal feature of the Jugnoo app will not only provide local information but is also a platform where the users can ask questions, give recommendations, and share content. It is a geolocation-based platform and is operational across all locations covered by Jugnoo.
Jugnoo – Industry Details
A study conducted by EMBARQ India has shown that there are around 50,000 auto-rickshaws in the tier 1 cities of India. Again in tier 2 cities, there are approx 15,000-30,000 auto rickshaws. The concept of the auto-aggregator is quite new in India. However many newbies, as well as leaders like Uber and Ola, have entered the autoaggregation sector.
Jugnoo was founded by Samar Singla and Chinmay Agarwal in 2014.
Jugnoo Founder- Samar Singla and Chinmay Agarwal | Success Story of Jugnoo
Samar Singla
Jugnoo co-founder, Samar Singla is an alumnus of IIT Delhi, graduating with a BTech degree in Physics. Before this company, Jugnoo, Samar also founded Click Labs. He also has been a researcher at the University of Maryland and IBM. Singa has also contributed as a scientist at CERN, Geneva. His mission is to change billions of lives with the help of technology. Samar is now the CEO of Jugnoo. Besides Jugnoo, Samar is also serving as the CEO of JungleWorks. Founded in 2015 by Samar Singla, JungleWorks provides a complete technology stack for businesses.
“We don’t want to compete with these gorillas (Uber and Ola). We are currently following the Cockroach approach: Our focus is on survival, not winning. Also, we focus on growing in spaces where there is no competition” – Samar Singla, CEO, Jugnoo.
Chinmay Agarwal
Jugnoo Ex-Co-founder and COO Chinmay Agarwal, is also from IIT Delhi. He pursued a Master’s in robotics from the University of Genoa and was a scientist at Smart Cane. He was also the Co-founder of Click Labs along with Samar. Chimay also has a patent of Methods and applications for altitude measurement and fusion of user context detection with elevation motion for personal navigation systems.
In the beginning, Jugnoo’s founders, Samar and Chinmay were unaware of the major influence they were about to make on the daily lives of the common commuters and the auto drivers. Initiated with a casual attitude, soon they realized the situation was way more challenging than anticipated.
Jugnoo is Samar’s third venture, after Prodigy Foods, which he exited in two years, and started SaaS technology solution provider Click Labs.
The company has 400+ employees currently. Samar stresses the need to keep the employees motivated. He feels talking to the employees, being transparent, and aligning with them for the long term is truly beneficial for the company.
Jugnoo – The Idea and Starting Up
Samar observed that the major issues in the auto transport network were the obstinately uncooperative attitude of the auto drivers, unavailability, and unreasonable charges. The idea was to tap the potential public transport medium in tier 2 and tier 3 cities, i.e., the auto-rickshaw, so the public can hail it by using the mobile app, and the auto drivers can save on the waiting time; a concept similar to the taxi services like Ola. Jugnoo auto app was introduced on all the major platforms in smartphones such as ios, Android, and Windows. Users can also book Jugnoo rides using Jugnoo’s Facebook bot.
Jugnoo – Name and Logo
Jugnoo means firefly. According to Samar, the word Jugnoo is related to nostalgia and happy memories. When people see a Jugnoo auto with a sticker of the brand, it becomes easier for them to remember the Jugnoo company. The name, thus, has a recall value.
Jugnoo Logo | Success Story of Jugnoo
Jugnoo – Business Model
Jugnoo has ventured into different businesses in both B2B and B2C segments. While it started operations in the B2C segment as an auto aggregator, Jugnoo also launched other B2C services like ‘Fatafat‘ and ‘Menus‘.
Jugnoo forayed into the B2B segment with, with B2B logistics service, ‘Jugnoo Delivery‘ and comprehensive routing solutions, ‘Flight Map‘
As regards the auto aggregator service, pricing for Jugnoo autos differs on a city-to-city basis. The strategy is to be the most affordable A-2-B transport option for the app users in that city. Some cities have a base fare + per km + per minute charge, some cities operate on meter fare. You can check the rates in different cities by downloading the app and searching for the cities. The fare is displayed in the bottom bar.
Jugnoo – Revenue Model
Jugnoo charges a commission back from the drivers. The commission rate is 10% of the ticket size in most cities. It runs a number of incentive schemes for the drivers, this again is based on the stage of maturity in a city and the engagement level of the drivers.
It is trying to build efficiency in the market where the final income of drivers through Jugnoo should increase to significantly more than what they were earning on the road and the customer gets a predictable and cost-effective medium of transport.
For food delivery, the company charges merchants a commission and pays the auto drivers for delivery.
In the initial days, Samar and Chinmay themselves met the auto drivers and explained the concept of the company. Convincing them to integrate technology into their routine work was quite a challenging task. Besides, for making the Jugnoo app familiar to the target customer, the app was launched at PECFEST of PEC University of Technology, Chandigarh. Also, free rides were provided to people in Chandigarh.
“The response was phenomenal and gave us the initial kick, to begin with” – recalls Samar.
Jugnoo – Marketing Campaigns
The marketing strategy of Jugnoo is simple; the company makes the customers and drivers its promoters. Jugnoo has tapped the dual capacity of home delivery and on-demand availability of public transport. The company is growing exponentially in major metros by forging a strategic alliance with partners that adds to its potential customer base.
Jugnoo also made a media presence by making Saumya Tondon, a well-known TV and films actress its face. According to Samar, Jugnoo has benefited a lot from word-of-mouth publicity. Jugnoo runs user referral programs and social media campaigns to attract new customers. The company has stayed in buzz with news like enrolling the first female auto driver, crossing 10k rides per day in Delhi NCR, backing series B funding even after the shutdown of Fatafat and Jugnoo Meals.
Jugnoo has raised a total of $16 million funding in 4 rounds from 8 investors. Funding details of Jugnoo are-
Date
Stage
Amount
Investors
Apr 18, 2016
Series B
$10 million
Paytm
Jun 5, 2015
Series A
$5 million
Snow Leopard Technology Ventures
Apr 20, 2015
Seed Round
$ 1 million
–
Jan 20, 2015
Angel Round
–
–
Jugnoo – Growth
Since 2014, when Jugnoo has been founded, the company saw numerous milestones achieved with the passage of time. Here’s a glimpse of some of the prominent ones:
The company has completed 29 million rides to date
Jugnoo has footprints in over 120 Indian cities
The company boasts of having 8 million users
It now has over 0.1 million drivers onboard
Jugnoo – Challenges
In Samar’s words, the initial Jugnoo challenges, which could be attributed to the demography of the tier 2 locations, were the reluctance of the drivers to use the technology and to break the mental barriers of the customers and introduce new ideas.
The two other major hiccups in the otherwise seamless journey were Jugnoo Fatatfat, which did home delivery of custom orders from stores within the city to customers. It was launched in March 2015 with an idea of in cashing the auto network, however, it was shut down after being operational for eight months. Also, Jugnoo had to close down Jugnoo Meal in October 2015.
However, the company later re-launched Fatafat and launched Jugnoo menus. Team Jugnoo stands by the bumpy rides and says that they have chosen to be careful rather than keep investing in something which out returns us a loss. All this while they used less than half of their reservoirs and concentrated on growing as a lean and productive unit.
Jugnoo has a great market presence in the arena of Auto rickshaw aggregators competes with startups like mGaadi, TeleRickshaw and AUTOnCaB’s. However, the concept of Jugnoo is unique as it focuses only on auto rickshaw space.
Jugnoo is the only startup company in India to focus exclusively on auto-rickshaw space. Hence, our market is different and much bigger than the other players in the industry. Also, we are an aggregator in the true sense. We believe in leveraging existing supply rather than creating a new one.
Jugnoo – Partners
For expansion and enhance customer base Jugnoo tied up with a travel search engine called Ixigo, a personal assistant application by the name of Helpchat (Tapzo), a public transportation information mobile app Zophop, an app with meta-search platforms to compare modes of transport on the basis of price called Oye Taxi and Scoot.
The payment gateways like Paytm and Mobikwik have digitized payments for Jugnoo. Punjab National Bank and Piaggio provided the drivers with easy funding options. Collaborating with connoisseurs from the industry like Anand Prakash also made Jugnoo shine brighter.
Jugnoo – Acquisitions
Jugnoo has acquired three companies to date (November 2023). The company acquiredSabkuch Fresh, a logistics services firm that delivers groceries, and hence expanded its services to grocery and fresh meals, food delivery from a choice of restaurants, payments, and deliveries. It acquired Yelo previously in July 2015. In July 2016, the company acquired taxi aggregator BookMyCab, which operates in Mumbai, Kolkata, and Hyderabad and is licensed to operate in Delhi.
In FY 2017-2018, Jugnoo’s revenue doubled to Rs 11.7 crore from Rs 5.14 crore in FY 2016-2017. While Jugnoo’s losses came down to Rs 16.34 crore in 2017-2018 from Rs 17.39 crore in 2016-2017.
Jugnoo – Achievements
Put together, some of the major achievements of Jugnoo are-
It established itself as the leading auto-rickshaw aggregator company of India, with around 40,000 people transacting per day.
The company has developed customer-centric services such as B2B deliveries, Food grocery, and meal delivery using auto-rickshaw, which is a unique business idea.
The startup has come up with the latest technologies like Jugnoo Bot which allows the customer to hail rickshaw from any platform, Flight map which aids the drivers in planning the routes to save time and fuel, a multi-lingual interface for drivers and AskLocal, a hyperlocal geo-location-based feature that helps users to stay connected and share content.
The company is constantly exploring new avenues. It has launched its services in diverse fields like 3D printing with Printo, end-to-end field force management solution Tookan, real-time customer support app – Fugu, workflow automation tool – Bumbl, and geo-analytics technology – Data Loops.
The company has been able to attract funding from biggies like Paytm and Snow Leopard Technology Ventures. Jugnoo raised a whopping $16 million in external funding.
It has more than 12000 autos registered with it.
The startup is operating across 120+ cities.
It has a registered user base of over 8 million.
In April 2018, the company started operations in Singapore, it had to close down in August 2018, owing to challenges it faced while recruiting drivers in Singapore. However, Jugnoo tied up with Singapore’s local aggregator app Kardi. It is providing technical expertise and engineering support to Kardi.
Jugnoo also affirms to have an international presence in Trinidad and Tobago, Sri Lanka, Bermuda, Panama, Mombasa, Oman, Congo, Nigeria, Indonesia, England, UAE, and the US.
Jugnoo – Conclusion
Undoubtedly, Jugnoo has improved the wage scenario for auto-rickshaw drivers as well. A Jugnoo driver earns about Rs 70-80 per trip on average. A dedicated driver earns up to 25k per month and this is possible by optimized usage of their time, live know-how of best paths they could take to reach the destination, and of course less bargaining.
Team Jugnoo does not favor perks and considers them as a sign of weakness of their business model. In India where approximately 30 million auto rides are taken and Jugnoo is currently involved in 0.1 % of it, hence there is a huge potential to be exploited. The startup aims to extend its services to the remotest corners of the country. Also soon it aims to become a major international player.
Jugnoo – FAQs
What is Jugnoo auto app?
Jugnoo is a Chandigarh-based e-taxi or ride-sharing platform that focuses on the aggregation and ride-sharing of auto-rickshaws.
Who are the founders of Jugnoo?
Samar Singla and Chinmay Agarwal are the founders of the Jugnoo app.
What is Jugnoo model?
Jugnoo works on a ride-hailing model that earns from the commissions of the rides through its app.
Angel investors are sometimes marked as Private investors or Seed Funders. Though known by different names, their main aim is to invest in startups or new ventures, thereby helping them to grow and create a presence in this dynamic environment. If you are looking to get an insight about Angel Investors in Delhi along with their Contact Details and Major investments, then this is the right place. As we have put in our best to compile a list of Angel Investors in and around Delhi.
Before, getting to the list of Angel Investors in Delhi. Let’s get an understanding on What do Angel Investors look for in a startup? It becomes essential for a startup to wisely approach an investor that suits the requirements and expertise of both.
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Markets Interested: SaaS, Consumer Internet, Big Data, Cloud Computing, Healthcare, and Digital Media. Investments: Instamojo, POPxo, ZipGo, Dunzo, Innov8, Rapido, Unacademy, CroFArm among many others.
Rajan Anandan | Angel Investors in Delhi
Rajan Anandan, the MD of Sequoia Capital, is the most prominent investor in the startup industry. He has served as an MD at Microsoft India, Vice President and SEA at Google, and also gained exposure in Dell India. He has gained experience with startups across various domains.
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Markets Interested: Mobile, Gaming, Social Media, Real Estate, Food Tech, Logistics, Consumer Internet, Media, Fintech, HR Tech, Education, and E-commerce. Investments: LogiNext, Milaap, InnerChef, Wishberg, FactorDaily, ThePrint, Flyrobe, TapChief, Unacademy, Innov8 among many.
Vijay Shekhar Sharma | Angel Investors in Delhi
The founder and CEO of Paytm, Vijay Shekhar Sharma and One97 has a spectacular experience in the Indian startups. He has given a helping hand to many of the startups in their journey of survival and growth. He graduated from Delhi College of Engineering and later founded his first venture XS Corps, which was then sold to Lotus Interworks LLC.
Sunil Kalra is one of the prominent independent angel investors in Indian Angel Network. Being the MD at Via Projects Pvt Ltd and a Venture Partner at Stride Ventures, Sunil has gained immense experience in the field of Finance & Investments.
Markets Interested: Consumer Internet, IT, Augmented Reality, Social Media, Clean Technology, Food and Beverages, Fintech, Big data. Investments: My Child, WittyFeed, PumpKart, Deyor Camps, Ketto, Nimo Planet, Falcon Labs, Josh Talks, Inc42 Media, SectorQube, and many.
Ritesh Malik | Angel Investors in Delhi
Ritesh Malik, the Co-founder, and MD of Innov8 practised as a professional doctor at the esteemed Ganga Ram Hospital, before venturing into his entrepreneurial journey. He is an active and prominent angel investor in Delhi. He also Co-founded Adstuck Consulting Pvt Ltd, a digital transformation agency.
Markets Interested: Consumer Internet, E-commerce, Internet, Big Data, SaaS Investments: Ola, Gigstart, UrbanClap, Bira 91, Belong, Bewakoof, Rapido, Razorpay, Fynd, Jugnoo, Mamaearth, Tripoto, LetsVenture among many others.
Kunal Bahl | Angel Investors in Delhi
Kunal Bahl, the Co-founder, and CEO of Snapdeal is the most prominent and active investor in the Indian startup ecosystem. He is an alum of the prestigious Wharton School of Pennsylvania. Before Snapdeal, he was associated with prominent organizations like Deloitte and Microsoft in the US. He co-founded Jaspers, the parent company of Snapdeal in 2008.
Aloke Bajpai is the Co-founder, and CEO of Ixigo – an Online travel marketplace. He is a keen angel investor based out of Delhi. He is a B.tech graduate in Electrical Engineering from IIT Kanpur. He served as VP at Final Quadrant Solutions Ltd, by getting engaged in strategic business development and product marketing.
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Markets Interested: Clean technology, Fintech, AI & Robotics, Digital Marketing, Healthcare, Foodtech, Big Data, and Virtual reality Investments: Unocoin, Arya ai, SmartVizx, Rubique, MObilewalla, LogiNext, Rubique, Phonon, Utsav Fashions, Vista Pharma, Auro, and many more.
Neeraj Kumar Singal | Angel Investors in Delhi
Neeraj Kumar Singal, Founder and Director of SEMCO Infratech Pvt ltd and also Lightyear Infratech, is a focused investor in varied fields. He is an active member of IAN (Indian Angel Network), LetsVenture, and HBS Alumni Angels. He values innovation and appreciates strategic ideas that can transform the world of Business. He is also well represented at various leadership roles and organizations like FCCI, HBS Club of India, Young President Organisation, AIMA, CII, TiE, Ph.D. Chambers of Commerce and Industry, and many.
Dinesh Agarwal, Founder and CEO of IndiaMart, is a prominent entrepreneur and angel investor. He is a well-known member of The Indus Entrepreneurs (TIE) and Internet and Mobile Association of India (IAMAI). Being an alum of The Harcourt Butler Technological Institute of Kanpur, he served as a system analyst at HCL Technologies.
Markets interested: Healthcare, Consumer Internet, Mobile, Fin-tech, Food-tech, E-commerce, Media. Investments: Meesho, LifCare, Babygogo, Fashalot, Sheroes, Tripeur, Foodcircle, Just Move, Shuttl, Reify Health among others.
Rahul Garg | Angel Investors in Delhi
Rahul Garg is the Founder & MD at Leo Capital India. He is one of an active business investors in delhi for startups. Being an alumnus of IIT Delhi with a degree in Computer science, his expertise in this field is commendable. He is also associated with TiE, NASSCOM, IIT Mentors, and many other organizations.
Markets Interested: Management Consulting, Product Innovation, Blockchain, global investments, technology management, SaaS, Clean technology, etc., Investments: Betaout, Zippr, Tavaga, Innov8, Testbook, Adpushup, Doormint, LE tote, Rappi, Lead Genius, Proven, NexGear, and many more.
Utsav Somani | Angel Investors in Delhi
Utsav Somani is a prominent angel investor in Delhi via AngelList (an online marketplace of startups and investors). He did his Masters in Innovation & Entrepreneurship from ESADE Business School in 2012. At present, he is also the partner at OB1T Capital (Investment management). He is a well-experienced investor and has been active in the Indian Angel Network.
Investments: Agastha, Rapido, Wizgo, Routofy, Drivezy among many.
Nikunj Jain | Angel Investors in Delhi
Nikunj Jain, the Co-founder and CEO of Zohem (A blockchain-based data exchange protocol) is a warm investor in the Indian Startup industry. He is a keen investor and also a noteworthy entrepreneur. Before zohem, he had co-founded Frankly.me, which is a video microblogging startup along with inoXapps (a gaming startup). Nikunj did his Btech, Textile Technology from the reputed IIT Delhi.
Investments: Touch Talent, Adpushup, Lucideus, and Wishberry.
Amit Ranjan | Angel Investors in Delhi
Earlier, Amit Ranjan had Co-founded Slideshare (Professional content sharing platform). He is now active as the Architect for Digital Locker & OpenForge (e-governance projects) under the Ministry of IT, Government of India.
By being an enthusiast about startups, he mentors them for their growth and development. He played a lead role in commencing the cult of technology “unconferences’ called BarCamps, by organizing India & Asia’s first such event in Delhi.
Rohit Bansal is the Co-founder of Snapdeal, an Indian e-commerce business. Rohit Bansal is one of the prominent investors in the Indian Startup ecosystem. He is an alumnus of IIT Delhi with Btech and Mtech in Computer Science. He is skilled in team management, business development, and strategic planning. He not only provides finance to startups via investing in them but also guides them through their journey by mentoring them in areas of sales, product management, competitor analysis, operations, vendor management, and marketing.
Alok Mittal, the Co-founder, and CEO of Indifi Technologies Pvt Ltd is not only among the prominent angel investors but also the founder of Indian Angel Network, a platform that connects startups and investors. He is an alumnus of the University of California and completed his Bachelors in Computer Science from IIT Delhi.
Earlier he had also co-founded JobsAhead.com (leading e-recruitment business), which was later acquired by Monster.com. He also worked with Hughes Software in telecom and internet technologies. He graduated from IIT Delhi and completed his MS and Management of Technology programs from UC Berkeley.
Markets interested: Technology, Consumer internet, Media, Fintech, Travel, Gaming, E-commerce. Investments: Overcart, Serial Innovations, Speakwell, Inc42 Media, Dexl, Silver Push, Little eye labs, Gamezop among many others.
Rajesh Sawhney | Angel Investors in Delhi
Rajesh Sawhney, the Co-founder, and CEO of InnerChef (Food Tech Startup) is a successful entrepreneur and angel investor He is also the CEO of GSF, an Indian Capital firm and accelerator which is focused on mobile startups. He has a wider experience in media and entertainment ventures. Earlier he worked as the COO of Times internet ltd, as the president at Reliance Entertainment and around 14 years with BCCL. He created several successful businesses across sectors like TV, eCommerce, and travel.
Markets interested: eCommerce, Consumer Internet, Foodtech, Travel, Education, Social Media, Gaming, Automotive, Fintech. Investments: Flipclass, GamingMonk, White Owl, YumLane, Zophop, IndiaLends, LimeTray, MassBlurb, Rapido, OnlineTyari, Scoopwoop among many.
Kunal Khattar | Angel Investors in Delhi
Kunal Khattar, the Founding Partner of AdvantEdge Partners (Venture Capital Firm), is one of India’s most prominent investors. He also acts as the Director of Rapido, leading a two-wheeler ride-sharing platform. Earlier, he worked as the Marketing Manager at Vodafone. He has also Co-founded ventures like Simply Look.
He is one of the most active angel investors in Delhi, who is always available for any kind of help on sales, business development, communication, and strategic marketing management.
Markets Interested: Consumer Internet, Enterprise Software, Technology, Digital Media, Technical Continuing Education. Investments: Airwoot, Biosense, HackerEarth, Xapr, Little Eye Labs, ShieldSquare, MobStac, and many.
Samir Sood | Angel Investors in Delhi
Samir Sood, the Co-founder of Venture Highway (Early-stage venture investment firm) is one of an active private investors in Delhi. He served as the Head of Corporate Development, South Asia and Australia at Google. He was also associated with organizations like Cisco, Microsoft, Dell, and Lehman Brothers. He is an MBA graduate from The University Of Chicago and completed his MS in Mechanical Engineering from Tufts University.
Markets Interested: SaaS, Enterprise Software, Fintech, Social Media, IT, Clean Technology, Gaming. Investments: Alma Connect, Enpower, HashCube, Zuvvu, Pinpuff, Ideophone, Biosense, and many more.
Pranay Gupta | Angel Investors in Delhi
Pranay Gupta is the Co-Founder of 91springboard, India’s leading co-working spaces. He also acted as the Joint CEO at Centre for Innovation, Incubation, and Entrepreneurship. Before Co-founding 91springboard, he worked with Lehman Brothers and Nomura Securities.
Soaib Grewal acts as an Advisor to AngelList India and is also the Venture Partner at TLabs, a leading startup accelerator and seed investment firm. Before getting associated with TLabs, he acted as Design Mentor at Microsoft Accelerator and also founded BOLd, Design-led investment firm.
Markets interested:E-commerce, Clean Technology, Travel, Real Estate, SaaS, Big data. Investments: Radiowalla, AdvantEdge Club, WittyParrot, Leverage Edu, Alliz Health among many.
Hetal Sonpal | Angel Investors in Delhi
Hetal Sonpal is into mentoring young minds and budding entrepreneurs along with the students of Amity International School in Gurugram. Earlier, he worked with Intel as the Head of Strategic Alliances. From the esteemed Narsee Monjee Institute of Management Studies, Hetal obtained his MBA Degree. He possesses relevant knowledge and expertise in his field.
Markets Interested: Social Media, Travel, Foodtech, Automobile, B2B, Internet. Investments: Yaantra, BSquare, RippleCard, Wow Momo, Find my Stay, ChefsNearMe, Ziveg and many more.
Yogesh Bansal | Angel Investors in Delhi
Yogesh Bansal, the Founder, and CEO of ApnaCircle Infotech is a tech missionary with tremendous knowledge and expertise in this field. He holds an MBA Degree in IT & Finance from the University of North Carolina and also founded companies like GeoRapid, GoActiveClub, and Mail Genie. He has got exposure to skills like team building, merger and acquisitions, and serial entrepreneurship.
Markets Interested: Healthcare, Aerospace, Hospitality, Agritech, Real Estate, Foodtech, Travel, Fintech. Investments: X Prime, Unbxd, SmartVizX, IntensAquatica, SquarePlums among many.
Bharat Mehra | Angel Investors in Delhi
Bharat Mehra is the Co-founder of Eatworks. He has major experience in the industry of food and real estate. He is a graduate from the esteemed Alliance Manchester Business School and entails skills in Negotiation, management, sales, and valuation. He is among the leading seed investors in Delhi, who is always an enthusiast to work with people who have passion and zeal to do something new.
Satyan Gajwani, the VP of Times Internet & Board member of Times India Group, is among the prominent investors in Delhi. Times Internet is one of India’s largest digital media companies that possess brands like Mumbai mirror, Gaana, Times of India among many. He is an alumnus of Stanford University. He also acts as a mentor to startups in media planning, market research, strategic planning, and team building.
Markets Interested: Enterprise Software, digital media, fintech, e-commerce, journalism, technology. Investments: Magictap Solutions, NewsBytes, ORO Wealth, Slintel, Vaultedge, Khabri, Yellow ant among many.
Rajat Harlalka | Angel Investors in Delhi
Rajat Harlalka, the Co-founder of Bellurbis Technologies (enterprise software platform), is an active angel investor in Delhi. He is an alumnus of IIT Varanasi and IIT Guwahati. He also acts as the operating partner at GSF India and as a mentor to startups. Be it any concept, like Competitive Analysis, Product development, presentation skills, industry trends or technical marketing, Rajant is at the forefront to help you out.
Abhishek Dwiwedi, an Assistant VP of Growth at 1mg.com (Online Pharmacy), is one of the top angel investors in Delhi. He is associated with SternFisher (an Angel Network) as a partner and also served as the Head of Business Development at HealthKart. By being an alumnus of Delhi College of Engineering, he launched SBD Solutions to organize the fragmented solar photovoltaic & thermal market.
Spinny, a platform for buying used cars, was Founded by Niraj Singh. Earlier, he was associated with Outbox Ventures as a Founding Partner and has also Co-founded Top Yaps, an internet media site. Locus Education, an ed-tech startup that helps students with IIT JEE Preparation was also co-founded by him. Being a graduate in Electrical engineering from IIT Delhi, he has got exposure to various domains. He not only invests in startups but also provides correct guidance for the growth of the venture.
Markets Interested: Fashion, Social Media, Digital Marketing, Ecommerce, Lifestyle, Blogging, Marketing, Food, Logistics. Investments: Campanja, Bea’s of Bloomsbury, Shoto, Tizaro.
Priyanka Gill | Angel Investors in Delhi
Priyanka Gill is the Founder & CEO of POPXo, Women-focused digital media firm). She is a prominent female angel investor in Delhi and entails interest in building brands within the lifestyle market. She is also the founder and CEO of Plixio (Influencer management platform) & Luxeva (Digital guide platform). She completed her Master of Arts from Kings College London and BA (Hons) in English from Lady Shri Ram College for Women.
Anirudh Mullick is the head of Recruitment at Sequoia Capital India, where he provides recruiting services to Sequoia’s portfolio companies. He is currently the VP of Sequoia Capital India and is an alumnus of IIPM. Earlier, he served as an Associate Director at Executive Access India. He can help startups find and acquire talents for their development and also guide them through business development and strategic planning.
Markets Interested: Consumer Internet, SaaS, Small and Medium Businesses, Education, Big Data, Location-Based Services. Investments: Kartrocket, Kraftly, Roposo, talking threads.in, Giveter.com, among many.
Gaurav Kachru – Angel Investors in Delhi
Gaurav, Founder and Managing Partner at 5ideas (an investment firm), is an active private investor in Delhi. Earlier he founded e-commerce startups FashionAndYou and DealsAndYou. Before commencing his entrepreneurial journey, he worked with Manpower Inc as Regional Director for Asia.
Markets interested: Enterprise Software, Travel, Technology, SaaS, Mobile applications, Fintech, Healthcare. Investments: MealHopper, Mind Your Fleet, OnlineTyari, AppVirality, Autowale.
Rajnish Kumar | Angel Investors in Delhi
Rajnish Kumar, the Co-founder and CTO of ixigo.com (travel & hotel booking platform), is one of the prominent angel investors in Delhi. He is an alumnus of IIT Kanpur and has expertise in Computer Science and Technology. Earlier, he had also founded Traveneus and has an understanding of Mobile applications and Software development. He also served in various roles at Amadeus IT Group in Spain
This was our list of Angel Investors in Delhi. If you are an investor or know any of the investors for startups, connect with us at shubham@startuptalky.com to get featured in the list.
FAQs
How to get investors for business in India?
Steps to get investors for business in India or investors for startups in India:-
Create a profile on Angel List.
Prepare a record of investors to share your ideas with.
Brush up your networking skills.
Have a classy introduction to your and your business.
Tell them why they should invest in your business.
Where can I find Angel Investors?
Check with the Business Development Center, Community Futures Office or Economic Development Centre where you live; there may be an active group of angelinvestors in your community.
What is an angel investor?
An angel investor is a person who gives capital for a business start-up, normally in exchange for convertible debt or ownership equity.
How to find investors in Delhi?
You can find out investors in Delhi by Ask Family or Friends, try crowdfunding platforms to find investors.
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In 2018, Tamil Nadu Assembly Secretariat received 4,600 applications for the post of sweepers and sanitary workers. While nothing is fascinating about this news, what should bother you is the fact that the majority of these applicants were graduates and post-graduates! Again, the news of 93,000 candidates including graduates, postgraduates, and even Ph.D. holders applying for peon jobs in UP was also trending for quite some time. These are just two incidents among numerous others that prove the obsession Indians have towards government jobs. While this craze for ‘Sarkari Naukri’ would never cease, thankfully, preparing for government job examinations and tests undergone serious revamp.
Earlier, aspirants had two ways of preparing for such entrance tests: enroll in a coaching center which in many cases was quite expensive. The second option was of self-study that isn’t everyone’s cup of tea. Moreover, it involves collecting lots of material for studying in the absence of proper guidance (this doesn’t mean that there’s a shortage of people who excel through self-study).
If one considers backward areas where the popularity and awareness of government jobs aren’t widespread, thousands of capable students altogether miss the chance of giving a shot at such exams. However, the advent of edtech has changed the scenario with the availability of resources, guidance, and what not at the tip of one’s fingers through the internet. Gurgaon based OnlineTyari is one such startup making it easier for the Indian government job aspirants to succeed in their attempts.
OnlineTyari, the brainchild of Bhola Meena and Rajveer Meena, is among India’s leading web/mobile app platforms for online preparation of different competitive exams in India. Headquartered in Gurgaon, OnlineTyari is turbocharged by the latest technologies for solving test preparation problems and facilitates the entire learning experience for serious aspirants. Its unique data-driven and deep analytical approach makes it unique in the field.
Enrolled students can avail mock assessment tests, test preparation e-books, and study material in three languages: Hindi, English, and Marathi. Students can also buy video lectures for various subjects and exams via OnlineTyari.
Also, coaching classes can tie-up with OnlineTyari for test prep solutions and other technical needs. The company recently established its offline presence by establishing Experience Centers in Patna and Jaipur, where students can take tests and have their doubts cleared. The company regularly generates engaging and informative content and sends alerts to the students about the exam schedules and application form deadlines.
“Our product was well taken and loyal users have been spreading good words about us in the student community. Keeping that vision in sight, we have kept product so simple that our users across geographies can use it.”, says Bhola Meena, founder of OnlineTyari.
OnlineTyari – Industry Details
Based on a report published by KPMG and Google, India’s online education market is set to grow to $1.96 billion by 2021 and the online test preparation segment is expected to burgeon at a CAGR of 64%. The market for government and public sector entrance exams in India is huge, with more than 20 million aspirants every year and counting.
OnlineTyari – Founders
Bhola Meena and Rajveer Meena co-founded OnlineTyari in 2014.
OnlineTyari Team
Bhola Meena, with a B.Tech degree in Computer Science and Engineering from IIT Kanpur, has been constantly employing his skills and hard-earned knowledge for pushing forward the online education trend in the country and is committed to bringing in innovations in this sector.
An entrepreneur by nature, Bhola has been instrumental in giving wings to two other start-ups in the past. He was a partner at HinKhoj.com—a platform for English to Hindi translation and English-Hindi learning. Prior to HinKhoj, Bhola co-founded and served as the CTO for GetMeCab.com, one of the first three taxi-hailing apps in India. He was also associated with firms like Microsoft and the Aricent Group.
Rajveer Meena (the co-founder) has over a decade of proven experience ranging from software development and product management, to business development. After earning his B.E. Degree in Computer Engineering in 2004, he joined Tata Consultancy Services as an Assistant Systems Engineer. He has had professional stints at Ramco and HPCL and established himself as an emergent business leader. With a PGDM from the prestigious IIM Lucknow, highly-motivated Rajveer embraces a consistent, deep-focus approach in his career.
Today, his stellar track record of building teams and implementing ideas has led him to become a key visionary for OnlineTyari. His expertise lies in decoding user behavior, spotting implicit needs, building a product roadmap, and delivering smart solutions. He shares with his team the art of solving problems from the root of successfully creating a strategic business differentiator.
OnlineTyari – How It Started
Both Bhola Meena and Rajveer Meena have known each other for the last 14 years and no, they’re not siblings! Bhola took an exit from Getmecab in 2013. While he was spending time at his ancestral village in Rajasthan after off-boarding Getmecab, some children from the neighborhood visited him to for some doubts related to their studies. One of them was preparing for a government job and requested Bhola to bring back certain books, guides, and mock papers from the renowned coaching institutes from Delhi upon his next visit to the village.
Deliberating further, he came across a number of students in the village who aspired and dreamt of doing something big in life but weren’t unable to live up to their potential due to a lack of resources. They neither had the right resources to prepare for national-level exams nor the awareness about the scores of government services related competitive exams being held across the country.
When he discussed this with a couple of friends including Rajveer, the ideation of OnlineTyari began. They identified a huge gap that had to be filled for making information accessible and organized to ensure the younger generation getting the jobs they truly deserve. They conducted some market research and organized surveys in a couple of cities such as Jaipur, Kota, and Delhi before starting. The initial response was overwhelming and they started working on OnlineTyari’s portal from Jaipur in 2014.
Bhola and Rajveer understood the real need of students and started delivering value through the OnlineTyari app and website.
OnlineTyari – Revenue Model
At present, OnlineTyari is working on monetizing its services through an annual subscription-based revenue model—TyariPlus. TyariPlus was launched in the last week of March 2018 and over 7500+ students have subscribed to this product —. They are hoping to touch over 25,000+ paid monthly subscribers in 4-6 months. Students usually appear for 5-10 exams in a year and end up spending an average of 3000 to 5000 for preparation courses. With TyariPlus, OnlineTyari is offering the same value at @1499 for an annual subscription. As an introductory offer, this plan is available at INR 399 for a limited period. Through TyariPlus, students get the following benefits:
Material for 25+ exams with 1000+ mock tests for the next 12 months.
Preparation materials in the following languages: Hindi, English, and Marathi.
A counseling session with experts.
Personalized analytics.
Student-driven forum.
Apart from TyariPlus, students can also opt for separate packages for different exams and subjects.
OnlineTyari has raised a total of $5.8M in funding over 2 rounds. Their latest funding was raised on Nov 9, 2016 from a Series A round.
Date
Stage
Funding Amonunt
Investors
September 2015
Angel Round
$750K
500 Startups, Mohandas Pai, Tandem Capital, Vikram Chachra and Aloke Bajpai co-founder & CEO of Ixigo
November 2016
Series A
$5M
Michael & Susan Dell Foundation
OnlineTyari – Initial Challenges
In the early years (2014-15), users’ response for paid courses was sluggish courtesy of factors such as low trust in online preparation resources, greater familiarity with traditional study methods, and lack of online payment infrastructure. But the team decided to stay on course and learned the art of survival in such crucibles. The vision to make an impact outweighed fleeting difficulties.
Gradually, students’ responses to the product improved and OnlineTyari started getting lots of inbound feedback on various fronts. The company did not look back and continues creating value for students. Edtech platforms have witnessed significant strides since early 2017. This is evident with the spurt in the adoption of paid learning platforms, and the blossoming of ventures like Unacademy, Neo Stencils, and Byju’s.
OnlineTyari – Competitors
OnlineTyari counts Unacademy, Oliveboard, Neostencil, Gradeup, Testbook, Toprankers as its competitors.
However, the vernacular approach has provided OnlineTyari the much-needed penetration in Hindi and Marathi speaking states and has helped it stay above others in the competition. The easy to use product coupled with the vernacular diversity has resulted in super growth that too without significant spending on marketing. This has given OnlineTyari an edge over its rivals. OnlineTyari’s daily submitted assessments are way more than those of its closest competitor.
OnlineTyari – Partnerships and Tie-ups
OnlineTyari has partnered with ePayLater to provide its customers with the convenient option of registering for online courses on job-oriented tests, and paying for them later. OnlineTyari has also partnered with various educational institutions, coaching institutes, and individual tutors who provide quality material for examinations like IBPS, SSC, UPSC, GATE, etc. The company also partners with various coupon sites and Paytm to sell its subscription.
With vernacular diversity and coverage for multiple examinations, the company has 8.5 million registered users and 7 million students have downloaded the OnlineTyari app. Presently over 5,50,000+ students us its services every day. Majority of the users in the case OnlineTyari hail from cities such as Patna, Jaipur, Indore, Lucknow, and Ajmer, in addition to large metros such as Delhi and Pune.
OnlineTyari – Future Plans
OnlineTyari aspires to become India’s No. 1 test preparation platform. To achieve this, the company will be expanding its offline presence in North India. It is also looking to include more languages on its platform soon. With a clear vision and strategy to leave its mark in the edtech sector, OnlineTyari endeavors to bring the youth of the country on a single digital platform and help them prepare for their dream government jobs.
FAQs
What is OnlineTyari?
OnlineTyari is a web and mobile app platform delivering educational contents, mock tests and guidance for students and job aspirants preparing for various exams in India.
Nitin Konde
