Tag: mumbai startup

AAIBA Design – Creative Solutions for Businesses to Build Their Brand

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 AAIBA Design.

Design industry is the most emerging industry in the world in the digital world. Creative design and arts play a crucial role in advertising industry, public relation, and marketing companies. Creative designs and visuals help in creating great impact on the audience and thereby helps in brand communication. Creative visuals, beautiful designs have an excellent ability to translate your brand to public. AAIBA Design Private Limited is a brand design agency that provides advertising services and helps your brand to communicate creatively to the public.

Read the startup story of AAIBA Design, its founder, offered services, and more about it.

AAIBA Design – Company Highlights

Startup Name	AAIBA Design
Headquarters	Mumbai
Industry	Brand Design and Brand Consultancy Agency
Founder	Saurabh Chandekar and Rasika Chandekar
Founded	2013
Instagram Page	aaibadesign

AAIBA Design – About
AAIBA Design – Founder and Team
AAIBA Design – The Idea and Startup Story
AAIBA Design – Name and Logo
AAIBA Design – Services
AAIBA Design – Business Model
AAIBA Design – Revenue Model
AAIBA Design – Customer Acquisition
AAIBA Design – Achievements
AAIBA Design – Work Culture
AAIBA Design – Competitors
AAIBA Design – Tools Used in the Company
AAIBA Design – Advisors and Mentors
AAIBA Design – Awards and Recognitions
AAIBA Design – Future Plans

AAIBA Design – About

As the name ‘AAIBA’ suggests, they give their client’s communication the right voice it needs. They are very passionate about what they do and the kind of communication they build around it. They help guide their clients through the advertising world offering expert insights on the market, quality, the estimated budget, etc. They ensure that the client benefits from the association and solutions they provide.

AAIBA Design – Founder and Team

Saurabh Chandekar – Co-Founder of AAIBA Design

Saurabh Chandekar and Rasika Chandekar are the co-founders of AAIBA Design. The shares of the company are distributed 50-50 between the co-founders.

Saurabh Chandekar is the Creative Director/ Aaiba Design private limited. He has completed his graduation from Abhinav Kala Mahavidyalay, Pune. He was born into an art driven family. His father, Late Mr. Sadanand Chandekar was a famous stand-up comedian of his time. It is only right to say that art has always been in his DNA and has always been something that excited him right from the very beginning. His love for art made me choose advertising as a career.

They are a team of 20 people and the majority of the team consists of women which further makes the workplace more empowering.

AAIBA Design – The Idea and Startup Story

Saurabh started his career working at advertising agencies. Working with corporate helped him hone his advertising skills for which he also won a lot of accolades. This helped him gain the confidence to start his own agency. It was easier to win the trust of the clients with the credentials he had with his previous work experience and he knew, he could do much more with his own brand. Hence, AAIBA was born in 2015 and he was able to put his passion and skills to best use and serve its clients with the best advertising and creative solutions.

AAIBA Design – Name and Logo

AAIBA Design Logo

They haven’t illustrated too much into the making of the logo, it is simply an ode to the founder’s Aai and Baba, his inspirations and pillars of strength. Hence the name, AAIBA.

AAIBA Design – Services

They offer a variety of services in their advertising agency. Research and Analysis are our strong points. They make sure that every solution offered to each client is customized according to their brand’s needs. They offer deep-rooted insights, psychological aspects are taken into consideration and then they walk their clients through the process offering consultations that could help their brand further.

AAIBA Design – Business Model

AAIBA Design provides all kinds of design services to its clients right from the crafting of their company name to designing their first logo to positioning the brand in the market, they explore all kinds of value additions in terms of manufacturing, vendor management, etc. They are a design consultancy company that provides the best solutions for all our clients.

AAIBA Design – Revenue Model

They are not a manufacturing unit selling a tangible product, they are a service company with a revenue model fluctuating and changing all the time. The cost of IPs ( Intellectual Properties) run the whole show. There is no fixed cost involved because there is no specific rate card for the services they offer since services differ according to the project. They are a bootstrapped business. Bootstrapping is the best business model one can opt for because it is easier to drive a company without the involvement of investors. It is easier to have things play out the way you want and thus do justice to your visions and goals.

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AAIBA Design – Customer Acquisition

One of the highlights of AAIBA design is that they never had to hire a marketing manager or business developer to promote their business. They believe that credibility plays an important role in acquiring customers. The more real you are the better. They ensure that they put their best foot forward and deliver the best services. It is important to be genuine and consistent with clients throughout the time together. Perseverance and sincerity is the key to success.

When AAIBA Design first started they had only 3 accounts and fast forward to today they cater to 35 clients. It is not an easy task to start an agency, especially a creative one which has immeasurable parameters to consider. It is a vague process but it is not rocket science. Getting the confidence of your clients and being genuine in what you do is what keeps the business running and growing. Basically, you are selling your soul but in a good way.

AAIBA Design – Achievements

AAIBA Design FOOD FESTIVAL

Some recognition attained by AAIBA Design are:

They are working on one of TOP 3 clients in the world – Capapie Sports, they are a sports equipment brand for shooters participating in various world games.
They also executed notable campaigns for D’lecta Foods – FETA Cheese range. The consumer communication carried out was aiming to introduce the audience to a new category of cheese i.e the FETA cheese or the healthier cheese. A cheese specific to salads, the campaign ‘ The Perfect Salad Cheese’ promoted the range through various retail store promotions, print promotions, social media, etc. For social media, the AAIBA team came up with original healthy recipes for the audience. The team leaned towards highlighting the nutritional facts of the products as opposed to typical ‘delicious cheese’ appeal that is used.
One of the highlights of my career was conducting this art exhibition in Mumbai, earlier this year, which was inaugurated by Aaditya Thackeray – #MumbaiInFrames. It was so well received by the audience and definitely something I am very proud of.
In 2020, AAIBA was felicitated with the Grand Jury Award at NYX Marcom Awards. We designed a campaign for the Isuzu X Food Festival bringing local hidden flavours and rare delicacies from different regions under one roof, taking guests on one of a kind food adventure. As a visual language, the illustrated versions of food were derived so as to create interest around the food. The colours and style of the illustrations were designed to take the audience closer to the regional culture. The entire illustrated campaign was conceived as a mood setter for the festival.

AAIBA Design FOOD FESTIVAL – STUDIO NYX AWARD-08

AAIBA Design – Work Culture

AAIBA is a family with no hierarchy in the company. They do not encourage toxicity at the workplace and Saurabh Chandekar himself makes it a point to stay connected with employees at the family level. They have always promoted a friendly atmosphere in the company.

They are always looking to empower the workplace by hiring more and more talented individuals and making the workplace more comfortable which is why there is no hierarchy present in the organization. This gives individuals room to grow and bring in their best creative selves.

AAIBA Design – Competitors

Many colleagues and friends of founder are working in the same industry but he have never seen them as competitions nor has he ever been threatened by their work. It is imperative to have so much faith in yourself that you shouldn’t be distracted by others’ success and that’s what AAIBA Design abide by.

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AAIBA Design – Tools Used in the Company

Some tools AAIBA Design uses are:

Illustrator
Photoshop

AAIBA Design – Advisors and Mentors

Saurabh Chandekar considers his Aai and baba as the primary mentors, personally and professionally. In the Advertising world, he have always looked up to Ex Ogilvy NCD, Nipun Salvi and sir, Piyush Pandey, Ogilvy.

AAIBA Design – Awards and Recognitions

In the year 2013, AAIBA Design won the prestigious ‘Cannes 2013’ for the Lifebuoy Roti Campaigns.

Awards won by AAIBA Design are:

AFAQS Foxglove 2019 – Best social media campaign
AFAQS Foxglove 2017 – Best print campaign – Silver
INDI POOL Magazine Nominated amongst India’s top 3 Best Graphic Design Studios
IDA Design – Los Angeles – International award for poster design category – Bronze Metal
AFAQS Foxglove 2018 – Best print campaign – Silver Meta
AFAQS Foxglove 2018 – Best non traditional media campaign – Gold Metal
Design Thinking Conclave 2018 – Best design thinking organisation.

AAIBA Design – Future Plans

In the next 5 years, they plan to take ‘AAIBA’ overseas and expand globally. Going global and offering their services to international clients has been our mission for the longest time and fulfilling that would certainly be a dream come true for me just like any other entrepreneur.

FAQs

When was AAIBA Design founded?

AAIBA Design was founded in 2013 in Mumbai.

Who is the founder of AAIBA Design?

Saurabh Chandekar and Rasika Chandekar are the founders of AAIBA Design.

What does AAIBA Design do?

AAIBA Design is a Mumbai based design studio that provides solutions for advertising and brand communication strategy & design.

June 30, 2022

Toppr: A Journey into Student-Centric Learning and Innovative Solutions

The worldwide education sector is seeing a major shift towards online platforms in the quickly changing field of educational technology (EdTech), where digital transformation impacts the future of learning. As the need for customized and easily accessible learning experiences grows, EdTech is essential in meeting the many needs of students in today’s dynamic learning environment.

In the evolving EdTech landscape, Toppr stands out as a dynamic platform, redefining learning by placing students at its core. It addresses the changing demands of learners in the digital era by exploring the larger EdTech context. Toppr anticipates a time when learning is an immersive experience and responds to the demands of education today with tailored learning paths and creative solutions.

In this article, let’s explore the world of Toppr—its founders, business and revenue model, funding, growth, and more

Even amidst the unprecedented times of the Covid19, one sector that has seen exponential growth is the EdTech industry. With the nationwide lockdown, as announced at the end of March, and many other successive lockdowns and strictures in numerous Indian metropolitan cities, most industries faced severe roadblocks to barely run their operations let alone, maintain or improve profitability. However, amidst the pandemic, online education and e-learning platforms have seen astonishing adoption and growth. This, however, is not surprising because the educational institutions are shut, making 1.5 billion students resort to a variety of digital education sites like Toppr to ensure learning continues. The company had seen good growth before it was acquired by Byju’s on July 24, 2021, in a deal consisting of cash and equity shares, as it acquired Great Learning.

According to a report by BARC India and Nielson, there has been a 30% increase in the time spent on education apps on smartphones since the lockdown. The Edtech sector worth Rs 15,000 crore, has been battling challenges with the low B2C market penetration. The current surge of usage is thus, proving to be pivotal.

Edtech startups are attracting many more investors in the post-Covid19 world, thanks to the increased adoption of digital learning during the lockdown. The learning app Toppr focused on students in classes 5 to 12 and had managed to raise around $112.1 million till July 29, 2020, it’s Series D funding round. Toppr had previously competed with unicorn companies like Byju, Unacademy, Vedantu, Meritnation and more. However, after it was acquired by the edtech giant, Toppr’s revenue declined. The revenue of Toppr noticeably shrunk by 40% in FY21, as per the reports dated January 19, 2022.

After the lockdown subsided, and the coronavirus became less active in terms of potency and the people affected, the edtech sector has been seeing a huge downfall. Layoffs or job cuts and decreased security now wrap the edtech domain. So, here’s learning about when Toppr was founded, how it has served in the pandemic, Toppr’s funding, Toppr’s business model, Toppr revenue, valuation and more.

Toppr – Company Highlights

Company Name	Toppr
Headquarters	Mumbai, Maharashtra
Founded On	2013
Founders	Zishaan Hayath and Hemanth Goteti
CEO	Zishaan Hayath
Employees	501-1000
Operating Revenue	$6.80 mn (Rs 50.6 crore in FY21)
Products & Services	Toppr Learning App

About Toppr
Growth of Toppr During Covid Pandemic
Toppr – Subscriptions
Toppr – Educational Products
Toppr – Funding
Toppr – Business and Revenue Model
Toppr – Growth and Revenues
Toppr – Layoffs

About Toppr

The logo of Toppr

Toppr is a Mumbai-based Edtech startup, which had seen a 100% growth in paid users on a monthly basis, with free user engagement witnessing a 100% spike. The company was founded in 2013 and offered questions, solutions, concepts, practice tests, videos, and more to students. It also prepared them for competitive entrance exams such as IIT-JEE mains, BITSAT, and NEET.

When the platform announced free access to live classes and video classes, the CEO and Founder of Toppr, Zishaan Hyath said, “in the view of the evolving situation around the Covid19 pandemic, many schools are shut, hence why we are making Toppr live classes completely free for all students in classes 5 to 12. Besides that, our video classes have always been available as a free learning resource”.

Growth of Toppr During Covid Pandemic

The Edtech firms have also taken to the digital media to acquire users and inform people about the free live classes on offer. There had been a 128% growth in digital ad spending by edtech apps during the lockdown, as per the BARC Nielson report. It is not just the big players that spent on advertising as they also acquired an impressive count of users abroad.

Amid Covid, there were more than a dozen Edtech startups including Byju’s, Vedantu, etc., that have raised funding as investors through platforms that have registered strong growth during the pandemic. The learning sessions on its app per month had also witnessed a 2x growth, which was 14 to 15 million before Covid and became 32 million post-lockdown.

Toppr already had around 60,000 students on its learning platform and was aggressively seeking to bring around 2.4 lakh students onboard. The Edtech segment is likely to be on a roll ahead as investors globally are expected to put $87 billion in the world market over the next 10 years. The Indian market is also believed to grow at over 20% per annum to hit $2 billion sizes by 2021.

Though Toppr, which is now a part of Byju’s, showed good growth in FY20’s financials when the company recorded its operational revenues at Rs 84.3 crore from Rs 56.4 crore, which it saw in FY19, FY21’s revenues for Toppr dipped by 40% to stand at Rs 50.6 crore. The last known Toppr valuation was over $100 mn, when it was sold to Byju’s.

Toppr – Subscriptions

The company had emerged as the highest traffic destination for K-12 learning and hosted over 1 million sessions every day. The community of 50,000 educators from across the country had contributed to the platform with over 35 lakh learning pieces, including questions, solutions, concepts, games, and videos curated for the students.

This is was because the annual subscription for the academic year 2020 to 2021 on Toppr started at Rs 20,000, which is cheaper than its competitors. For example, Vedantu’s annual subscription for all subjects for a class 10 student costs Rs 48,599. Given the high costs, the penetration of Edtech platforms was limited, which is why Toppr decided to bring down the cost of their subscription to get more users to the platform.

Some of the well known competitors of Toppr — Some of the well-known competitors of Toppr

Furthermore, the company changed its product strategy and created packages of shorter duration to help people tide over the current crisis. Toppr now has a 3 month and six-month package, starting at just Rs 3000. Both Toppr and Byju’s have registered an increase in paid users during the lockdown, Toppr has seen a four-fold increase, while Byju’s has seen its paid subscriptions double. However, things toppled in FY21, when the company’s operational revenue plunged by 40%.

Toppr – Educational Products

Apart from the main product, which is the school learning app, Toppr also spends on teaching coding to kids and their school operating system (OS) built for teachers and administrators. Toppr School OS is an app for schools and teachers through which they can map curriculum, plan lessons and manage class timetables, automate attendance, assign homework.

Toppr school is an artificial intelligence-based Operating System to run “in school” and “afterschool” learning, creating a standardized and personalized experience. This helps in continuing to engage and explore various features and includes parents and students who are trying online learning as a go-to learning resource in these difficult times.

It also helps in taking tests, correcting test papers, etc. during or after school hours to save time. On the other hand, the coding product, which is called Toppr codr, launched recently, is another opportunity for the company to raise at least $50 million, if let’s say, the overall opportunity for us in digital learning is around $200 million.

Toppr – Funding

Toppr raised a total of $112.1M in funding over 11 rounds. The latest funding of Toppr was raised on Jul 29, 2020, from a Series D round as edtech startups continue to benefit from the pandemic-driven online learning boom. This last round of Toppr funding was worth $44.31 mn. A Dubai-based investment firm, Foundation Holdings, led the fresh investments into the Mumbai-based e-learning platform. Existing investors such as Kaizen Private Equity also participated, according to a statement.

Date	Name of the Funding Round	Deal Value	Lead Investors
July 29, 2020	Series D	$44.31 mn	Foundation Holdings
June 12, 2020	Series C	$189.90K	Kaizenvest
April 10, 2019	Debt Financing	$5.57 mn	Milestone Trustee Services
December 19, 2018	Series C	$35 mn	–
May 9, 2018	Debt Financing	$1.96 mn	Alteria Capital
October 23, 2017	Series B	$5.69 mn	–
April 24, 2017	Venture Round	$336K	WGG International
October 30, 2015	Debt Financing	$2 mn	–
May 7, 2015	Series B	$10 mn	Eight Roads Ventures, Helion Ventures, Elevation Capital
May 24, 2014	Seed Round	$2 mn	–

Toppr – Business and Revenue Model

The Toppr business model is similar to a freemium business model, which remains the same even after it is acquired by the edtech giant, Byju’s. The company offers free live and offline classes, which can be availed full-fledged if the users go for paid subscriptions. The majority of the Toppr income comes from the classes and their subscription fees. The Toppr revenues witnessed a 3X growth between 2016-2019, where revenues received from the students from 5th-12th grade was equally split.

Toppr – Growth and Revenues

The operating revenues of Toppr grew by 49.5% to $11.44 mn (Rs 84.3 crore) during FY20 from $7.65 mn (Rs 56.4 crore) earned in FY19. Furthermore, the income from financial assets of Toppr also witnessed a 46% growth to nearly $814K (Rs 6 crore) during FY20.

Looking at the side of expenses of the company, Toppr spent around $27.63 mn (Rs 203.7 crore) in total during FY20. Thus, it has registered a 31.6% increase when compared to the aggregate costs, which were Rs 154.8 crore during FY19. Coming to the unit level, Toppr has spent Rs 2.41 to earn a single rupee of revenue during FY20, which can be stated as a marginal improvement from what it was during FY19.

However, it is evident that Toppr failed to save its scale in terms of its financial performance in FY21 when BYJU’S acquired edtech startup reported a 6.2X of cash outflow, which increased from Rs 20.74 crore in FY20 to Rs 128.07 crore during FY21. The revenue of the company in FY20 was recorded to be Rs 84.32 crore, which plunged by 40%, thereby recorded at Rs 50.6 crore. The company has also been noted to have lost Rs 128.3 crore in FY21, which increased by 13.1%.

Coming to the unit level, Toppr spent Rs 3.54 to earn a single rupee of revenue. This is reported to be around 46.3% more in contrast to what Toppr spent (Rs 2.42) during FY20. Besides, the acquisition of the company might also be a result of Toppr’s inability to raise follow-on capital, and to scale.

Toppr – Layoffs

Toppr has announced that it would be firing close to 300 employees as of June 30, 2022. This news came when BYJU’S owned WhiteHat Jr. has already reported laying off around 300 employees. The Toppr layoffs would be close to 300 with immediate effect, and this can also go up to 500 later on, according to some reports.

FAQs

When was Toppr founded and who is the founder of Toppr?

Toppr edtech startup has been founded by Zishaan Hayath and Hemanth Goteti in 2013.

Who are Toppr’s competitors?

Some of the top competitors of Toppr are:

Unacademy
Brainly
Meritnation
Vedantu
Khan Academy
TutorVista
Mockbank
Embibe
WizIQ

What is Toppr codr?

Toppr codr is an app for learning coding made specifically for kids.

What is the revenue of Toppr in FY21?

The revenue of Toppr stood at INR 50.60 crore in FY21, which decreased by 40% from INR 84.32 crore in FY20.

Is Toppr acquired by Byju’s?

Yes, Byju’s acquired both Toppr and Great Learning on July 24, 2021. Therefore, Toppr currently stands acquired by Byju’s.

June 30, 2022

Reliance Jio – The Success Story of the 1st Network to Provide 4G VoLTE Services in 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 Jio.

When do you think a revolution came in the telecommunication industry? Well, the most common answer is after the launch of Mukesh Ambani’s Jio. This company made an incredible entry into the Indian mobile telecom sector with the most exclusive cost leadership strategy that revolutionized the whole market of telecommunication. But how do you think did that happen?

Was it the investments in the company or the business model or Mukesh Ambani’s strategic plans?

To know more about How Jio Started, information about Jio company, the Success Story of Reliance Jio, and how Jio changed India, you go through this StartupTalky article.

Reliance Jio – Company Highlights

Company Name	Jio (Joint Implementation Opportunities)
Headquarter	Mumbai, India
Sector	Telecommunications
Founder	Mukesh Ambani
Founded	15th February 2007
Revenue	Rs 18,952 crore (FY21,Q1)
Profit	Rs 3,651 crore (FY21, Q1)
Average Revenue per user (ARPU)	INR 138.4 (FY21, Q1)
Reliance Jio Slogan	‘Digital Life’
Reliance Jio Tagline	‘Jio jee bharke’ (Live life to the fullest)
Parent Organization	Reliance Industries
Website	jio.com

About Jio
Founders of Jio and team
Jio – Startup Story | How was Jio Started?
Jio – Name, Tagline, and Logo
Jio – Business Model and How it Works?
Jio – Growth
Jio – Competitors
Jio – Future Plans

Reliance Jio — Who Dominates Mobile Subscriptions?

About Jio

When Anil Ambani and Mukesh Ambani had a split in the year 2005, it was one of the biggest de-merger in the industry. The dream project of Mukesh Ambani that was Reliance Infocom, became a part of the Anil Ambani Group. Furthermore, Mukesh Ambani went on to acquire the company Infotel Broadband Services Limited, which was the only successful bidder across India for the 4G network.

This is when Mukesh Ambani’s Reliance Limited started working on establishing a base for a high-speed optical fiber 4G network which is much more capable than 4G. The company was named Reliance Jio Infocom Ltd popularly known as Jio today. Jio was the first network to provide 4G LTE services and VoLTE services.

Jio launched these services on 5th September 2016 for all the users and also launched its smartphone series with the name LYF. Reliance Jio Infocom Ltd (RJIL) focused on high-speed data instead of voice and SMS. On its launch, the company announced data plans with 1GB 4G data per day in the market where mostly all popular telecom providers offered 1GB data per month.

This was a game-changer by RJIL in the price-sensitive market of India as the prices before that revolved around Rs 250-300 for 1 GB 4G data, which went down to Rs 5 per GB during the initial days. Along with these amazing plans, Jio also started offering free voice calling and free 100 SMS per day for all its Prime members.

JioPhone Next

The all-new ‘JioPhone Next’, is being jointly developed by Mukesh Ambani-led Reliance and tech giant, Google was scheduled for a Ganesh Chaturthi release, on September 10, 2021. However, Reliance Telecommunication’s revolutionary product hit a roadblock due to an acute global shortage of semiconductors and had been postponed till Diwali at least, as per the reports dated September 10, 2021. The company then remarked that it had already started testing the device among a limited set of users to identify further scopes of refinement and make them easily available foolproof in November, during the festive season of Diwali. With this, Reliance Jio had also bought some more time to figure out efficient ways to mitigate the global shortage of semiconductors. This Reliance JioPhone Next was finally launched on November 4, 2021. These phones now comes at Rs 6,499, and is powered with the Android-powered Pragati OS, and a Qualcomm Snapdragon QM215 processor. The JioPhone Next can also be bought by paying Rs 1,999 only by the users who lack the options of paying for the phone upfront. However, they also need to pay the company for the full price of the phone later on by monthly installments.

The JioPhone Next can be summed up as a good option if you are looking for an entry-level budget phone, and if you don’t have Rs 6000-7000 or more to buy new phones. However, these phones also have numerous drawbacks like:

JioPhone Next is sluggish being deficient of adequate RAM
You need to only use a Jio sim as the primary SIM to use it
The phone can also be turned of by the financer if it is not properly paid for
It comes in with an Android OS, but has its own JIO customisations

Founders of Jio and team

Mukesh Dhirubhai Ambani is one of the richest men in the world. He is the Founder of Jio.

Mukesh Ambani - Founder of Jio — Mukesh Ambani – Founder of Jio

Mukesh is reportedly the richest man in India and his family is popularly known as the richest family in Asia, according to Forbes. Mukesh Dhirubhai Ambani was the Chief Managing Director (CMD) of Reliance Industries Ltd, which is one of the biggest conglomerates in India.

Mukesh was born in Aden but he grew up in Mumbai. Being one of the most influential and powerful personalities of the country he has provided his business acumens to the whole world. Mukesh Ambani is the owner of the world’s largest refinery. He has achieved tons of notable accomplishments and is a part of many renowned institutes as well. Ambani was the Director and Chairman of Reliance JIO Infocomm Ltd. too before he stepped down with effect from June 27, 2022, and his son, Akash Ambani, who was a Non-Executive Director, has been appointed as the Chairman of the company, as per reports dated June 29, 2022. The Jio board has also revealed the appointments of Raminder Singh Gujral and K.V. Chowdary as additional directors of the company, who will serve as independent directors for the next 5 years, commencing from June 27, 2022. Furthermore, Pankaj Mohan Pawar has been appointed as the Managing Director of the Jio business also for 5 years.

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Jio – Startup Story | How was Jio Started?

Some time back, Mukesh Ambani the founder of Jio was asked about how he thought of coming up with such an amazing idea to which he said that this idea was seeded by his daughter Isha Ambani. In 2011, Isha Ambani was a student at Yale in the US and was home for the holidays.

She told her dad how bad the internet connectivity was at their house because she couldn’t submit her coursework. At that time, Mukesh Ambani realized that how India is suffering from bad and poor connectivity of the internet.

The data was severely scarce and overpriced, which was unaffordable to a majority of Indians. Since then, Mukesh Ambani started working on Jio to make the data services abundant and affordable in every part of the country, which gave birth to Reliance Telecommunication’s Jio business line.

Jio – Name, Tagline, and Logo

JIO stands for Joint Implementation Opportunities and the full name of the company is Reliance Jio Infocom Ltd.

The logo of Reliance Jio has a hidden meaning. When we flip the logo and look at its mirror image it is read as ‘oil’ which represents the past and future of Reliance. The company Reliance appeared as a business giant in the 20th century because of its Oil business and in the 21st century probably the flipped version, Jio has successfully ushered in another revolution.

The slogan of Reliance Jio is ‘Digital Life’ while a popular tagline of Jio has been ‘Jio jee bharke’ which means live life to the fullest.

Jio – Business Model and How it Works?

Reliance Jio had really smart strategies and most of them belonged to the founder Mukesh Ambani. For its initial year, Jio gave unlimited data services and high-quality Volte calling services at surprisingly low charges. The complete change in the market made other telecom operators change their business models.

These offers created a lot of radical and unexpected changes in the consumer’s behavior as well. Also, it led to many mergers and acquisitions in Indian mobile network providers. Jio, in turn, made people use more and more services so that they spend more.

Jio eventually started charging 6 paise per minute on its calling services. The company has now launched numerous value packs consisting of both internet and calling benefits along with other on-demand subscriptions at competitive rates, which are even lower for Jio phone users.

Well, in the initial phase Reliance took a big risk to enter into the telecom industry but it has proved to be one of the best companies in the current market.

Jio – Growth

Jio has already proven to be a rising force being a revolutionary company and the torchbearer of the Indian 4G VoLTE services. The Mukesh Ambani-led company is currently the leading telecommunication service provider in India. The Jio company is now working to empower the Indian users with the 5G and 6G services as well. Jio is the 3rd largest mobile network operator in the world with over 179.93 million users.

Jio has added 1.6 mn+ wireless subscribers to its network in April 2022. In the broadband segment, Jio leads the path, which currently boasts of 52.15% of the total Indian userbase, followed by Bharti Airtel, which now enjoys 31.61% of the market share. Reliance Industries’ shares reportedly closed 1.5% higher at Rs 2,529 on the BSE on June 28, 2022.

Jio launched the fiber to the home service in 2019, which now offers home broadband, telephone, and television services. When the coronavirus made things scary for businesses and professionals, Mukesh Ambani made his company Reliance Jio net debt-free 9 months before the deadline. The conglomerate has raised Rs 53,124.0 crore by offering shares to its existing shareholders and another Rs 118,318.45 crore by selling stakes in the Jio platform through 12 deals.

Reliance Jio has become the country’s largest-ever right issue and series of stake sales deals in its arm Jio Platforms, delivering on a promise given to its shareholders in last year’s August.

“I have fulfilled my promise to the shareholders by making Reliance net debt-free much before our original schedule of 31st March 2021,” Mukesh Ambani said in a statement released early on Friday.

Reliance Industries is in its ‘Golden Decade’ and Mr. Mukesh Ambani has assured his shareholders that in this decade RIL will set even more ambitious growth goals and achieve them. Back in 2017, Mr. Ambani said that the energy-to-telecom conglomerate was on the verge of a golden decade where it would yield the returns of its largest-ever capacity expansion in its petrochemical business and its investment in Jio. With these investments, the company’s net debt was Rs 161,035 crore, as of March 31, 2020, and the funds raised in the last 8 weeks exceeded it. Along with the stake sale to BP in the petro-retail joint venture, the total fundraising is in excess of Rs 1.75 lakh crore.

In twelve weeks thirteen different companies have invested in Jio platform, from leading Global investors which included Facebook, Silver Lake(Twice), Vista Equity Partner, General Atlantic, KKR. & Co.Inc., Mubadala Investment Company, Abu Dhabi Investment Authority, TPG Capital, L Catterton, Saudi Arabia PIF, and Qualcomm.

Companies Investing In Jio In A Nutshell

Name of the Company	Stakes	Total Investments
Facebook	9.99%	INR 43,574 cr
Vista Equity Partner	2.32%	INR 11, 367 cr
Silver Lake Partner	1.15%	INR 5,655.75 cr
General Atlantic	1.34%	INR 6,598.38 cr
KKR & Co. Inc.	2.32%	INR 11,367 cr
Mubadala Investment Company	1.85%	INR 9,093.60 cr
Silver Lake Partner	0.93%	INR 4,546.80 cr
Abu Dhabi Investment Authority	1.16%	INR 5,683.5 cr
TPG Capital	0.93%	INR 4.546.80 cr
L Catterton	0.39%	INR 1,894.50 cr
Saudi Arabia’s Wealth Fund PIF	2.32%	INR 11,367 cr
Qualcomm	0.15%	INR 730 cr

Jio Platforms has diluted 25.24% of its equity. That’s the maximum they have in view to dilute to financial investors, which includes Mark Zukerberg’s Facebook. Any new investors coming on board in the future will have to be “strategic investors, a tech giant, for instance,” said a source who was part of the deal-making process. The RIL-FB partnership could emerge as the core platform for India’s digital economy and as more consumers and small businesses shift online, it could unlock a digital market worth $2 trillion.

The secret behind Jio’s success is that it is customer-centric and has a webscale mentality. Reliance Jio made it look easy when it successfully swooped into the jam-packed and super competitive mobile market with free 4G voice and data service. So, in a nutshell, Reliance Jio, aims at harnessing the full potential of the internet to create a digital revolution through their technologies. Innovative services and long-term planning will radically bring the world at one’s fingertips much faster and also transform the way Indians think, work, live, and are entertained.

Reliance Jio announced plans for integrated fibre connectivity and digital solutions to transform over 50 Million small and medium businesses in India on March 9, 2021. A statement released by Reliance Jio said – “Under this plan, Indian MSMEs will get Jio connectivity at one-tenth (1/10th) of the existing price in the market. They will also be able to collaborate with Jio partners to get easy-to-use solutions”

Reliance Jio also announced to launch of its new product JioBook, as per the reports dated March 8, 2021. After years of speculation, it is believed that the product is in the Engineering Validation test stage. JioBook is a laptop, that is said to be affordable and would attract a lot of customers. As per the speculations, the price of the laptop would start from INR 10,000 onwards.

Reliance Jio emerged as the top bidder in India’s $11 billion airwaves auction, said the reports on March 2, 2021. Reliance Jio bought airwaves worth Rs 571.23 billion ($7.8 billion) of the total Rs 778.2 billion raised in the latest spectrum auction. Jio’s competitors – Bharti Airtel Ltd., spent $2.6 billion and Vodafone Plc’s India unit bought spectrum worth Rs 19.9 billion.

Some of the popular Jio Apps that the customers can now find are:

Jio Pages – A Jio launched web browser for Android mobiles
Jio Chat – JioChat is an instant messaging and video calling app for Jio users.
Jio Cinema – An online HD video library by Jio, designed to provide the users with movies, tv shows, and music videos online
Jio Cloud – A safe and secure cloud storage service from Jio
Jio Health – A health services app from Jio
JioNews – A news app or e-reader for news by Jio
JioMeet – A video-conferencing platform from Jio
JioMoney – A mobile wallet for the Jio customers
JioSaavn – Provides online and offline music streaming in English and Indian languages
JioSecurity – A mobile security and antivirus app
JioTV – A streaming service brought by Jio
JioCall (Jio4GVoice) – A videocalling feature for the fixed-line number customers
MyJio – A Jio account using which the Jio users can manage their Jio account and digital services

Jio also has a list of other products and services. Here are some important ones to know about:

Mobile broadband service
JioFiber
JioBusiness
JioNet Wi-fi
JioPhone Next

Jio – Competitors

There are many telecommunication brands that have thrived for long years in the telecommunication space of India. Popular brands like Airtel, Idea, Vodafone, etc. had achieved the customer’s trust for years and are still among the Reliance Jio competitors. However, with the disruptive entry of Jio, they had to hurry things up and make significant changes in their business models, strategies, and workings to match up with Jio’s radical approach.

Small network operators like Aircel, Tata Teleservices, and Telenor had to shut down their functions in India because of the revolution brought by Jio into the market. The profits of other Telecom operators have also drastically decreased since Jio’s inception. Idea also had to merge with Vodafone eventually to make the company Vodafone Idea or Vi.

Jio – Future Plans

Mukesh Ambani, recently in an interview, stated that Reliance Jio is now focusing on growing the teledensity in the rural and remote areas. The company is continuing to grow in demand for telecom services and provides digital services with greater services.

Reliance Jio planned to build a data center in UP with approximately $950 million as an investment on February 23, 2021. This center will be powered by its own renewable energy plant.

The company may also expand from being a digital telecom service provider to a digital services player which also offers services related to agriculture, healthcare, and education. Jio also aims to be an influencer and initiator in bringing and developing 5G services in India. The future Reliance Jio projects also include the launching of the 5G and 6G services, and the launch of the JioPhone Next, which was done in November 2021.

FAQs

What is Reliance Jio Tagline/Slogan?

The slogan of Reliance Jio is ‘Digital Life’ while a popular tagline of Jio has been ‘Jio jee bharke’, which means live life to the fullest.

Who is Reliance Jio Founder?

Mukesh Dhirubhai Ambani is the founder of Reliance Jio.

How much is Reliance Jio Revenue?

In the second quarter of FY2021, it reported a revenue of INR 17,481 Cr with a profit of INR 2,844 Cr. In Q1, the company reported INR 16,557 Cr in revenue. Reliance Jio’s average revenue per user (ARPU) has gone up to INR 140, during Q1 of FY2021.

Who are Reliance Jio’s top competitors?

Airtel, and Vi are the prominent competitors of Reliance Jio.

How much is Mukesh Ambani’s net worth?

Mukesh Ambani’s net worth is $90.7 bn, as of April 2022.

Does Reliance Jio have any subsidiaries?

Yes. Reliance Jio’s subsidiaries are LYF and Reliance Jio Infocomm Pte. Ltd.

How much is Reliance Jio’s customer base?

As of April 2022, Reliance Jio recorded 179.93 million users.

June 29, 2022

Get Personalised Fitness Solutions at Miten Says Fitness
A healthy and fit body is essential for a human to perform the best. For the right reasons, of late, there has been increasing consciousness among individuals about fitness and health. Consequently, the fitness industry has been growing immensely. Keeping up with our new formed habit of searching for every solution online, many platforms providing guidance on fitness and health online, are also emerging. One such startup that is guiding you to attain your fitness goals is Miten Says Fitness.

Miten Says Fitness (MSF) is a digital-based platform that provides online fitness training services and has some of the best fitness trainers in India. MSF provides personalized fitness solutions (in the form of weekly Diet and Workout Plans) that are completely customized to the requirements of each of its clients – taking into consideration their current lifestyle, body condition, preferences, limitations, and fitness goals.

Company Highlights of Miten Says Fitness

Startup Name Miten Says Fitness

Headquarter Mumbai

Sector Health & Fitness

Founder Miten Kakaiya

Founded 2017

Parent Organization Miten Says Fitness LLP

Miten Says Fitness – About
Miten Says Fitness – Founders and Team
Miten Says Fitness – How was it Started?
Miten Says Fitness – Name, Tagline, and Logo
Miten Says Fitness – Business Model and Revenue Model
Miten Says Fitness – User Acquisition and Growth
Miten Says Fitness – Startup Challenges
Miten Says Fitness – Funding and Investors
Miten Says Fitness – Advisors and Mentors
Miten Says Fitness – Awards
Miten Says Fitness – Future Plans
FAQ

Miten Says Fitness – About

Miten Says Fitness (MSF) is a Mumbai based startup that provides personalized fitness solutions to its clients through weekly diet and workout plans. These plans are updated every week – taking in any feedback and assessing the progress made by the client.

How MSF Works

This approach ensures that the plans become more and more sustainable for the clients. Also, the weekly updates hold the clients accountable to follow through with their fitness journey while Miten Says Fitness provides clients with the service remotely.

The functioning of Miten Says Fitness is quite simple. First, the customer selects any of the numerous permutation combinations of options available on the website and signs up through its portal.

MSF Workout Plans

Once they sign up, the clients receive a document called- MSF Fitness Questionnaire. This questionnaire allows the team to collect complete details about the clients’ body, lifestyle, preferences, limitations, and fitness goals, along with their body photos.

Based on the response to this questionnaire, the MSF team create a plan for Week one. The plan includes details of exactly what food they need to eat, in what quantity, and a brief recipe which makes their meal plan tasty (and not just limit themselves to boring, bland salads).

Besides, clients also get a personalized workout plan (which can be done at home or at the gym – based on client preference) that details the exact exercise that they need to do along with the correct number of sets, reps, the rest period and a brief description of the correct form to execute these exercises.

A couple of buffer days are provided to the customers so that they can arrange for groceries and other necessary material to start with their Week one. As the customer starts, the company has to be informed.

Around day 5, Miten personally collects feedback from them and prepare their week 2 plan accordingly, and so on!

Miten Says Fitness provides a wide range of fitness services. The prominent ones are,
1. Helping its clients with a laid down path to enable them to achieve their fitness goals.
2. Enabling access to world-class fitness knowledge and expertise right at their fingertips.
3. Making personalized fitness programs affordable to its consumers.
4. Educate its clients with the correct information
The USP of MSF is;
1. They provide the services of a personal trainer and a nutritionist under one roof.
2. They provide the right level of support, motivation, and guidance to ensure that their clients feel empowered to religiously follow their fitness journey – despite being remotely available to them.
The core belief of Miten Says Fitness is to always provide value to its audience (on Social Media) and its clients and deliver results above expectations.

Miten Says Fitness – Founders and Team

Miten Kakaiya is the founder of Miten Says Fitness (MSF). He studied MEng (Hons) in Aerospace Engineering from the University of Manchester. He also worked with Airbus in the UK for an year before setting up MSF.

Miten Kakiya – Founder of Miten Says Fitness

Today, MSF is a team of 9 highly motivated individuals driven to leave a meaningful and positive impact on the lives of MSF stakeholders.

Miten Says Fitness – How was it Started?

The idea for MSF occurred unusually to Miten Kakaiya, founder of MSF. During his sisters’ wedding few of his cousins approached him for fitness tips given his interest in fitness. In the process of guiding them and getting tangible results; Miten found a business idea in it.

Miten Kakaiya, during his stay abroad for studies, has come across multiple Online Personal Trainers.

A few of the personal trainers I came across, really made a huge impact on my decisions in shaping the company. I observed them grow over a span of 2-5 years and carefully analyzed the strategies employed by them to climb the ladder of success – quotes Miten.

Fascinated about the concept of online personal trainers, Miten envisioned starting something along similar lines in India. He studied the fitness industry in India very closely to understand the micro details of the market. From his research, he realized that there are few gaps in the Indian fitness industry and that there are only a few online personal training service providers.

Miten started working on his concept by helping a few dedicated individuals from his neighborhood gym at a very minimal cost. It was this careful assessment of finding motivated and dedicated individuals that helped validate the potential of his idea.

MSF started off with basic services like detailing what food the clients need to eat and what workouts/exercises they need to do. As the team received feedback from their consumers, the team started including more details on their services.

MSF came up with client transformation plans, which included things like recipes for every single meal – making their diet food super tasty and easy to cook and sustain. MSF also started including information about the exercises and details like how to correct the form and basics to keep in mind while exercising.

Our next step is to introduce a video trainer alongside – which makes the implementation of the program hassle-free for our consumers. Our focus has always been on providing value to our audience and to our clients. This simple fundamental has helped us keep our customer acquisition costs low while also ensuring that we deliver quality services. Hence, we are always on the lookout for improving the overall experience of customers.

Lo! Foods: Don’t Compromise On Taste For Health

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Miten Says Fitness – Name, Tagline, and Logo

Miten taking inspiration from his overseas Online Fitness Trainers, wanted to follow the formula of – First Name + Last Name + Fitness, to name his brand. But the formula somehow didn’t work. Narrating the story behind the name Miten says-

I didn’t really like the sound of Miten Kakaiya Fitness or MKF. And so suddenly, one night MSF struck me, and I named it as Miten Says Fitness.

Miten Says Fitness Logo

Miten Says Fitness – Business Model and Revenue Model

Miten Says Fitness follows a simple B2C model of operation. MSF products are priced between INR 1,200 to INR 30,000/-. During the sale season, they have their products going as low as INR 250, as well. Since this is an online service package, they do not have any raw material costs associated, allowing price flexibility.

Besides, their team is also very lean for now. These factors allow high-profit margins for MSF, and these high margins are being used to re-invest into the business, mainly for Product Development and Marketing.

Miten Says Fitness – User Acquisition and Growth

Prior to launching MSF officially, Miten worked with a couple of clients to understand the potential of the idea in a better manner. These clients have been able to follow the diet and workout schedule dutifully. Gradually, positive results showed, which gave Miten an encouraging push to boost his strategy. He thereon started marketing his services online.

In the initial phase, Miten’s customers were mainly his friends and acquaintances. Through mouth referrals and digital marketing, Miten was able to popularize his services. Social media was extensively used by MSF to propagate their services by creating valuable content, spreading true information, and showcasing the incredible benefits that MSF clients have achieved.

MSF’s major source of client acquisition is social media. It allowed them to disseminate information at free of cost. Besides, it has proven to be a trusted platform to gain access to customers. The MSF team then works to convert their social media followers to customers.

Miten Says Fitness Instagram Marketing

As MSF got a hold of a good number of clients, MSF has flagged of offers and value-added benefits to its clients regularly to gain more clients besides, retaining the clients.

We are investing heavily right now into growing the reach of our social media and providing our followers with more and more free, authentic, and valuable information. Apart from that, we have plans to get a small scale, but impactful influencers on board to help us increase the reach and authenticity of our brand and our services – says Miten explaining the customer acquisition strategy.

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Miten Says Fitness – Startup Challenges

Initially, it was quite a task for Miten to convince his parents and his close social circle about the online fitness training service providers, given it is fairly a new concept for the Indian Market. Nevertheless, with a clear and structured planning process, Miten was able to convince them successfully.

A major challenge for MSF was to make its clients follow the plan regularly and be committed. Unlike other products, here the clients have to buy a package and also put in efforts so as to reap benefits – that is, improved health and fitness levels.

To increase the awareness among the public concerning fitness and to improve the brand image of MSF they have introduced, the MSF Transformation Challenge. It is a fitness challenge wherein a bunch of people sign up together and are bound by limited dates.

MSF Transformation Challenge

The best three transformations during this period win Cash Prize from MSF. So far, they have had five editions, and all of them have been a huge success.

Now we are planning to bring it back again next year – bigger and better than ever before!

Miten Says Fitness – Funding and Investors

MSF has completely relied on money generated from the MSF business itself. Right from day one the company started generating revenue.

All the money generated is re-invested for content creation and on marketing to acquire more customers with the help of Social Media.

Miten Says Fitness – Advisors and Mentors

Miten, by virtue of studies, has developed a social circle dominated by Entrepreneurs, who are guiding him in his venture and has played a good role in shaping up the organization

Miten Says Fitness – Awards

Miten Says Fiteness has been recognized for the efforts it has put to make people live healthy and fit. Awards received by the platform are-
- Radio City Mumbai City Icon Award for Excellence in Nutrition and Lifestyle in 2019.
- GHP News 2019 Fitness and Nutrition Awards- Best Online Fitness Training Specialist- India
- Featured on Mensxp platform for 31 days fitness challenge introduced.
Miten Says Fitness – Future Plans

MSF is currently operating from Mumbai. Miten Says Fitness has so far helped more than 1000 clients in 26 countries across the globe. The Platform is experiencing a steady growth rate of 100% YoY since inception, and aims to help 100,000 individuals from across the globe as a part of the five year plan.

Our goal is to remain as lean as possible. Implement newer technologies and invest more in product development. In the long term, we want MSF to be analogous with fitness in India and Indians across the world – Miten quoted explaining the company’s future plans

FAQ

Who is the founder of Miten Says Fitness?

Miten Kakaiya is the founder of Miten Says Fitness.

What is Miten Says Fitness?

Miten Says Fitness (MSF) is a Mumbai based startup that provides personalized fitness solutions to its clients through weekly diet and workout plans.
January 21, 2022

Top 5 Most Profitable Franchise opportunities in Mumbai

When starting a business, several things cross your mind. It could be very tacky and an uphill battle but, when it gears up and the business model succeeds, it could be very rewarding and pays pretty well. That’s why most of the time, entrepreneurs move towards the direction of buying a franchise model to make it more fascinating and the great success of fulfilling their dreams.

Buying a franchise brings a lot of pressure as well as enthusiasm. It requires a proven business model and absolute work practices and experiences for the investment into a successful franchise, especially in Mumbai. Mumbai holds a huge category of business franchises that would be very beneficial to kickstart your business.

Phixman
KFC
Giani’s
Me n Moms
Frozen Bottle
FAQ

Profitable Franchise to apply for:

Franchise	Application	Category
7th Heaven	Apply Here	Bakery & Cafe
Biggies Burger	Apply Here	Burger Chain
Chicago Pizza	Apply Here	Pizza Chain
Let’s Transform Salon	Apply Here	Beauty & Wellness
Meatwale	Apply Here	Food & Services
Frozen Bottle	Apply Here	Beverages & Cafe
Moti Mahal	Apply Here	Restaurant
Pepperfry	Apply Here	Furniture

What is Franchise Business?

Franchise Business is an absolute business model where you own the authority and right to use someone’s company’s brand name, business model and production for a certain signed period. In order to own a brand’s name, you have to invest a small capital and sign a deed along with all the verified terms and conditions.

When you are a fresher in the business field, franchise businesses are the right and precisely chosen for you. Because it brings the maximum chance of success as the brand has already built its name in the market and gathered several potential and promising customers across the country. Therefore, it would save tons of your money in advertising, marketing and digital branding.

In this article, we present to you some top business franchises in Mumbai, India. Stay tuned!

Phixman

Name	Phixman
Founded in	2013
Franchise Units	60+
Investment	10-20 Lac
Apply to Phixman Franchise	Click Here

Phixman is one of the profitable franchise in Mumbai that is available on digital platforms. It works for the development of repairing smartphones, laptops and tablets with advanced technology.

It offers the service of picking the damaged device and then delivering it after the repair in just a day. The online mobile devices repair industry is developing with exponential growth. That’s why investing in one as Phixman franchise is an absolute profit deal.

KFC

Name	KFC
Founded in	1952
Franchise Units	400+
Investment	1.5-2 Crore
Apply to KFC Franchise	Click Here

A very famous and loving food brand across the world, KFC is quite famous for its fried chicken. Also, it has several vegetarian recipes as well. In India, KFC has been remarkably famous for its services and catering to everyone including vegetarians. This makes it one of the most profitable food franchise businesses in India.

The minimal investment required of KFC is 1.5 to 2 Crore Rupees. The investment may seem pretty high and with this kind of business model and fame, the risk is absolutely low in starting a new fried chicken restaurant from nothing.

Giani’s

Name	Giani’s
Founded in	1956
Franchise Units	100+
Investment	10-15 Lac
Apply to Giani’s Franchise	Click Here

The very prominent ice cream brand, Giani’s is known for its delicious, 100% vegetarian ice cream, kulfi and falooda. Giani’s prioritize its consumers’ preferences the most and provide the best quality possible. It has progressed with great graphs and become a successful brand in India.

For entrepreneurs, Giani’s is one of the best possible business franchises with the basic requirements of 10-15 lakhs. It’s an amazing as well as a very affordable business opportunity. Giani’s has been serving with great quality and taste for more than 50 years. Therefore, it has gained some very promising customers. It’s a great start for entrepreneurs to gain success with their business.

Me n Moms

Name	Me n Moms
Founded in	1994
Franchise Units	100-200
Investment	30-50 Lac
Apply to Me n Moms Franchise	Click Here

Me n Moms is quite a famous one-stop-shop for the vast range of baby products available online in India. It looks after its customer’s absolute convenience, hassle-free and fun experience of shopping.

It provides a great category of baby products such as Baby Footwear, Bathing essentials, Diapers, oral and skincare for little ones, baby apparel, travel accessories, nursing essentials, maternity wears for mothers, toys and many more. It looks after the total comfort of the baby and mom both.

The investment for this franchise is around 30-40 Lakhs. It’s a very fun-loving business franchise that would bring great success. It’s a well-known brand and mostly preferred by every mother. Me n Mom is the leading baby product shopping website in India, especially Mumbai. It brings a great deal and very loyal customers.

Frozen Bottle

Name	Frozen Bottle
Founded in	2017
Franchise Units	50+
Investment	20-30 Lac
Apply to Frozen Bottle Franchise	Click Here

Frozen Bottle, known for its extremely incredible premium thick shakes. It provides the best quality of shakes around Mumbai and also, other states where it’s franchises are established. It is quite famous for serving the excellent quality of milkshakes and custom-made cakes along with its jars.

Frozen Bottle offers several training and learning programs to their franchise outlets to make it as incredible and fine as the original one. Frozen Bottle has been running for several franchises in different parts of Mumbai and they have been proven very successful.

Its investment would cost up to 20-30 Lakhs approximately. For young entrepreneurs, Frozen Bottle is a great business franchise deal to make their success in a very short period. It provides great sustaining quality of shakes and has a great number of promising and potential customers. Frozen Bottle is a well-known brand and absolutely low-risk business.

FAQ

Which franchise is best in Mumbai?

KFC is one of the most profitable franchise in Mumbai.

What is the cheapest franchise to start in Mumbai?

Giani is one of most low cost franchise to start in Mumbai with basic investment of 10-15 lakhs.

Are franchises a good investment?

If you want to own a business, but don’t have an idea to build it from scratch, a franchise can be a great option.

Conclusion

Business franchises are a great way to gain success in the marketing business. It serves the customer with the value of a promising product. Initiating any business could be very tacky as it requires non-distributive attention and certain investment in advertising, marketing, digital branding and many more such tasks. This requires a lot of time and the success rate is also low.

Therefore, a business franchise acts best in this and Mumbai is a great place to start your own franchise. It has already built a well-known name in the market and potentially loyal customers as well and the success rate is quite high.

May 19, 2021

Haptik – India’s Biggest AI-based Personal Assistance Platform

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 Haptik.

There are more than 3 billion people in the world who use messaging or digital voice interfaces on a daily basis. However, less than 1% use these mediums to communicate with businesses and brands. It is only a matter of time for this to change – enterprises will implement the infrastructure to enable these channels.

Haptik is born out of the belief that conversational AI will have the same paradigm shift, and the company is a global team of 200+ believers waiting to make it happen.

Haptik – Company Highlights

Startup Name	Haptik
Parent Company	Reliance Industries
Headquarters	Mumbai, Maharashtra, India
Industry	Software, AI-company
Founded	August 2013
Founders	Aakrit Vaish and Swapan Rajdev
Area Served	Worldwide
Website	www.haptik.ai

Haptik – About and How it Works?
Haptik – Logo and its Meaning
Haptik – Founder and History
Haptik – Mission
Haptik – Recent News
Haptik – Team
Haptik – Partnerships
Haptik – Business Model
Haptik – Revenue and Growth
Haptik – Funding and Investors
Haptik – Acquisitions
Haptik – Awards and Recognitions
Haptik – Competitors
Haptik – Challenges Faced
Haptik – Future Plans
Haptik – FAQs

Haptik – About and How it Works?

Haptik is an artificial intelligence company powering conversational assistants for brands to transform customer experiences. The company develops technology to enable enterprises to build conversational AI systems that allow users to converse with applications and electronic devices in free-format, natural language, using speech or text.

Haptik also has an automated conversational testing platform that enables real-time improvements to the AI. Haptik AI is a developer of conversational AI platforms intended to automate critical business processes.

The company’s platform has a live agent tool for a bot to human handover and analytics dashboard to check chat level metrics and insights into what a customer really needs from business, enabling users to chat with experts for any query related to any company, product or service via text messages.

Haptik – Logo and its Meaning

The Haptik logo has hand that is very colorful, and the multiple colors serve a purpose – to symbolize how the app could help users with a wide range of tasks. Taken together, the hand and the colors were meant to say “I’m here to help, and I can help with a lot of things”.

Haptik’s company logo

The bright colors, in addition to being pleasing to the eye, were also meant to symbolize positivity and optimism – reflecting our confidence in the ability of the Haptik app to accomplish the many tasks that it would be asked to perform.

Haptik – Founder and History

Haptik was founded by Aakrit Vaish and Swapan Rajdev, both University of Illinois engineering alumni in August 2013.

Vaish recalls, “Swapan and I were working in San Francisco when the mobile app industry was taking off. One of the categories of apps that we saw take off significantly was messaging. We noticed people using messaging apps more than any other type of app, and the addiction to the interface was crazy. We figured there is something here to build on, and potentially a platform to support conversations everywhere beyond simply peer to peer chat. That’s when Haptik was born”.

In March 2014, the company launched its first product, the Haptik app which is a chat-based personal assistant for Android and iOS platforms in India.

Over time this evolved into full-blown conversational commerce app with over 2 million downloads with 15 million app installs. The company launched Life Insurance chat-bot for HDFC Life and a Baap Bot for Father’s Day.

Haptik – Mission

Haptik’s mission statement says, “To build artificial intelligence products that enable the paradigm shift of interaction from clicks to conversations.“

Haptik – Recent News

Reliance Jio said that it has bought a majority stake in Haptik, a startup that develops ‘conversational’ platforms and virtual assistants, in a deal worth $100 million overall. The transaction will see Jio will take an 87 percent stake in the company, with the remaining shares left for Haptik’s founding team and staff. The deal includes 230 crore ($33 million) to buy out existing backers and an investment of 470 crore ($67 million).

Haptik announced that it has acqui-hired Convrg, a Los Angeles-based startup that develops chatbots, to serve customers in North America. According to Aakrit Vaish this move is part of Haptik’s broader strategy to both expand its technology expertise and team and business overseas.

Haptik – Team

Aakrit Vaish – Co-Founder & Chief Executive Officer
Swapan Rajdev – Co-Founder & CTO
Kartik Poddar – Chief Business Officer
Prateek Gupte – Director, Product & Engineering
Krupal Modi – Head, Machine Learning
Aman Srivastava – Machine Learning Scientist
Audrey Wu – VP Strategic Partnerships

Haptik – Partnerships

Haptik built the world’s largest WhatsApp chatbot for COVID-19. This was the official helpline for the Government of India which was utilized by over 21 million users across the country. The MyGov Corona Helpdesk was engineered to ﬁght rumors, educate the masses and bring a sense of calm to the pandemic situation. Haptik built the Helpdesk ground-up using official data shared by the Government.

Kotak Life partnered with Haptik to develop an AI-driven conversational assistant called KAYA which provides 24X7 assistance to consumers.

The company partnered with Amazon Pay, HDFC Life, Ola Cabs, Uber, Times Internet, Mumbai City FC, Coca-Cola, Ziman, Zomato, BookMyShow, ClearTrip, Goibibo, UrbanClap, Via.com, Dineout, Flipkart, and Kotak Life to run campaigns on Haptik app.

In March 2018, the company partnered with Amazon Web Services (AWS) to provide Al-enabled conversational solutions to customers in India.

Haptik has entered into a strategic partnership with Y Combinator-backed Leena AI to provide enterprises for all types of bot solutions.

Haptik’s repertoire of chatbot customers in India includes Samsung, Future Group, KFC, Dream11, Sharekhan, Edelweiss, Tokio, Club Mahindra and IIFL among others. Haptik has also built assistants for TOI, Samsung, Ziman and Akancha Against Harassment, an online Cyber Safety Initiative.

Haptik is one of the world’s largest conversational AI platforms. In October 2017, The Times of India app incorporated Haptik’s virtual personal assistant service with Sprite as the exclusive brand partner. Samsung was the second partner who uses Haptik to power its ‘My Assistant’ service that is pre-installed on the Samsung Galaxy S7 and Galaxy S7 Edge in India.

Haptik built a scalable Support Bot for Dream11 which helped the online handle 8x their volume without a large support staff during IPL 2018.

Haptik – Business Model

Haptik has always been in the leading position when it came to the chatbot business. They were one of the very first enterprises to come up with the idea and have a huge advantage of the experience factor when compared to its competitors. They have had lots and lots of experimentations done on the concept and have almost perfected the art.

One of their biggest strong points is indeed the upper hand in technology. The in-depth knowledge in Machine Learning and NLP has also aided the company to be one step ahead of the competitors. They were one of the very first firms to reap the benefits of the chatbot industry by foreseeing the growing liking of the people to interface and personal assistance.

They also concentrated on being a B2B(business-to-business) model, which proved more effective for the team. The biggest advantage of Haptik is that they provide customized services to the customers. There is no one model for all kind of a concept that works there. This has also led to the team to stand out from the rest.

Haptik – Revenue and Growth

From a rather unsuccessful launch of its beta phase called Batman to becoming the nation’s biggest AI-based personal assistance platform, Haptik has indeed come a very long way. They have over one million downloads in Play Store and are the highest-rated mobile application in India.

The organization handles over 50 million conversation yearly and has a clean history when it comes to customer churns. This is no ordinary feat and the team has indeed worked very hard to reach where they are today.

More and more people seek the assistance of chatbots to solve their daily problems and help in easier decision making. The company is now looking forward to expanding there scope across the globe and are absolutely confident that they will be able to see the same magnitude of results they could see in India.

Mumbai-based conversational AI assistant Haptik has attained 105% of its revenue target in the first quarter of financial year 2020 despite the pandemic and the reduced cash flow from the travel tech sector which suffered huge losses due to the travel restrictions.

Haptik – Funding and Investors

Haptik has raised a total of $12.2M in funding over 2 rounds. Their latest funding was raised on Apr 5, 2016 from a Series B round. Haptik is funded by 3 investors. Times Internet and Vivek Kumar are the most recent investors.

Date	Round	Amount	Lead Investors
Apr 5, 2016	Series B	$11.2M	Times Internet
Sep 16, 2014	Series A	$1M	Kalaari Capital

Haptik – Acquisitions

Haptik has acquired 2 organizations. Their most recent acquisition was Buzzo.ai on Sep 24, 2019.

Acquiree Name	Date	Amount	About Acquiree
Buzzo.ai	Sep 24, 2019	–	Buzzo.ai is a customizable Artificial Intelligence software for retail, e-commerce, travel.
CONVRG	Jul 23, 2019	–	Speakeasy™ by Convrg is AI-powered software that voice-enables your ecommerce website or mobile app, allowing consumers to shop by voice.

Haptik – Awards and Recognitions

Haptik won ‘AI for Good Award’ for the year 2018 at the 4th Annual Canadian Fintech and AI awards. Haptik’s client list includes Fortune 500 names such as Coca-Cola, Samsung, KFC, Tata Group and Mahindra Group, among others.

The company launched in the year 2013 was awarded for its 24×7 bot which benefits its users in fields of cyber safety and harassment. Haptik developed a bot named Akancha Against Harassment or AHH bot, authorized by Akancha Srivastava, a prominent cyber safety pundit and founder of the Akancha Against Harassment (AAH) vision. The bot enhances and educates people about cyber safety in a captivating and conversational procedure. The technology gives a comprehensive information on the absolute process and more users pursuing help and safety against cyber harassment.

Haptik – Competitors

The top competitors in Haptik’s competitive set are Floatbot, Vernacular, Yellow Messenger, SendBird, Niki, and Askarvi.

Haptik – Challenges Faced

Vaish says “Being at the forefront of an industry which is still evolving means that there is no predefined playbook which can be followed to assure results. At Haptik, on an everyday basis, we try out various different experiments some of which succeed while some of them don’t”.

The company faces challenges on all aspects of engineering starting from scaling, research in machine learning, product and design. They perform research in-house and work closely with academia and other institutes to be able to find the best solutions to advance the chatbot and machine learning space.

Having said that, it cannot be denied that chatbot space is growing by leaps and bounds, with traditional slow moving businesses automating their procedures and using chatbot to become more efficient. The founders of Haptik believe that with the growth of AI technology, bots will be able to understand regular human speech in both text and voice.

“Vernacular language support is another interesting field that is currently open to innovation. We can also expect to see chatbots on various other platforms apart from websites and messengers. Chatbots will become more prevalent and be a part of everyday life for everyone who owns a smartphone!”, Vaish added.

Haptik – Future Plans

Haptik’s team is looking forward to expand further into newer and bigger markets. Haptik has a few clients in the US with IoT, chatbot, and voice assistance market growing extensively in India. A Hansa Cequity Customer Experience Trends Report suggests that the chatbot market will touch $2.3 billion by the end of 2020 from its current $700 million.

“We invested in Haptik back in 2016 based on the early signs of messaging as a paradigm for user interactions. Over the last year, we have seen tremendous adoption in enterprises adopting it as a platform to communicate with their users, with successful results. We are really bullish on what’s to come from team Haptik in the next few months, and are prepared to back them all the way to making this a large global technology company from India.” said Aakrit, founder of Haptik.

Haptik – FAQs

What does Haptik do?

Haptik is an artificial intelligence company powering conversational assistants for brands to transform customer experiences. Haptik develops technology to enable enterprises to build conversational AI systems that allow users to converse with applications and electronic devices in free-format, natural language, using speech or text.

Which company owns Haptik?

The Reliance Industries owns Haptik.

Who founded Haptik?

Haptik was founded by Aakrit Vaish and Swapan Rajdev, in August 2013.

When was Haptik founded?

Haptik was founded in August 2013.

Who is the current CEO of Haptik?

Aakrit Vaish is the current CEO of Haptik.

April 30, 2021

WinMagic Toys – Energizing Childhood with Wonderful Toys!

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

India has traditionally been a risk-averse market, and most toy distributors focused on traditional categories like dolls, vehicles, and guns. Then came WinMagic Toys, which was launched by Mukesh Jagwani and the senior management team in 2017, which disrupted in the toy industry by launching new trendy categories and global brands into the market.

Read this article to know about the success story of WinMagic Toys, founder, growth, vision, mission, and funding.

WinMagic Toys – Company Highlights

Startup Name	WinMagic Toys
Headquarter	Mumbai, India
Sector	Toys & Games
Founder	Mukesh Jagwani
Founded	2017
Parent Organization	WinMagic toys pvt ltd
Website	winmagictoys.com
Contact	Sayali.gaidhani@winmagictoys.com

WinMagic Toys – Vision and Mission
WinMagic Toys – About and How it Works
WinMagic Toys – Products/Services
WinMagic Toys – Target Market Size
Founders of WinMagic Toys and team
WinMagic Toys – Name, Tagline, and Logo
WinMagic Toys – Startup Launch
WinMagic Toys – Marketing Approach
WinMagic Toys – Business Model and Revenue Model
WinMagic Toys – Startup Challenges
WinMagic Toys – Growth
WinMagic Toys – Future Plans

WinMagic Toys – Vision and Mission

WinMagic Toys is a company that creates and distributes world-class marketable & unique products that bring happiness for kids and fulfillment for parents.

They aims to be the ‘go-to’ company that makes it easy for all the international brands desirous of entering India in the kids & games space! WinMagic Toys acts as a catalyst that ongoingly transforms the industry and promotes the cause of India at international platforms.

For the customers, it is a marketing-oriented company that always creates new and innovative categories at retail, provides a significant product or price differentiation, and drives strong communication campaigns to create consumer demand and affect shopper conversions at retail.

For the employees, it is a company that empowers them to create the future they dream of, for themselves and their families, which makes them spring into action every day.

WinMagic Toys is a company that delivers a veritable portfolio in its space, that touches consumers from birth to their full lifecycle. They sees their final play to be a company with two separate and equally thriving divisions, third party distribution and owned portfolio marketed globally, with a host of owned brands, being made in India!

WinMagic Toys – About and How it Works

WinMagic Toys creates and spreads happiness, pride, and oneness amongst kids and families! A full portfolio-kids’ product creation, manufacturing, marketing & distribution company, that touches consumers from birth & remains a companion for life, through its product offerings.

The company dominates the pre-school retail aisle with Paw Patrol, PJ Masks, and Peppa Pig toy lines that are the top 3 licensed content and toy properties globally as well as in India. Similarly, this fastest-growing toy company of India has also transformed the girls’ aisle with brands like L.O.L Surprise! Dolls, Hatchimals, and Shopkins.

To ensure product quality, the company only works with global brands that are already supplying to the US and Europe. Their products comply with American Society for Testing and Materials (ASTM), European Standard EN 71, Bureau of Indian Standards (BIS) and other independent standards likes Facility and Merchandise Authorization (FAMA) certification by The Walt Disney Company.

Recently, the government of India conducted a survey where 66% of imported toys failed to comply with quality standards – these are all unbranded toys. WinMagic Laboratories have claimed that not even a single toy that it has offered into the country has ever failed a test.

WinMagic Toys – Products/Services

Fisher-Price and Thomas were given a run for their money, with WinMagic Toys distributing Spin Master’s – Paw Patrol, which is today the number 1 preschool licensed toy property at retail. Paw Patrol is a TV series that runs on Nick Junior, a content co-owned by Viacom and Canada’s Spin Master Entertainment (SME).

Paw Patrol Toys - WinMagic — Paw Patrol Toys – WinMagic

Spin Master Toys, a top 5 listed toy company globally, and a sister concern of SME owns the global rights to Paw Patrol toys. Through its distribution partnership with Spin Master, WinMagic Toys brought into the country many trendy toy lines, like Hatchimals for example – that became toy retailer Hamleys’ number 1 selling toy when it was launched in 2016, while the inventory lasted.

Hatchimals - WinMagic — Hatchimals – WinMagic

Hatchimals is an egg-shaped tech toy, that has a unique hatching feature, where with a kid’s love & care an electronic pet hatches itself out of an egg and there are various play possibilities at pre-hatching, during-hatching, and post-hatching stages. Hatchimals has since then developed into a veritable array of collectible and tech toys that have become one of the best-selling toy ranges in the girls’ aisle.

Through its partnership with Spin Master, the company is set to launch toy lines like Bakugan, a massive hit from a decade ago that is being relaunched by Spin Master globally, Batman & DC action figure lines based on the popular entertainment franchises and Monster Jam Monster vehicles lines based on World’s Number 1 Monster Truck racing show.

The company has created the category of girls collectibles in India literally from scratch. Shopkins, from Moose Toys of Australia, was its entry into the girl’s collectibles aisle which took the industry by pleasant surprise in 2015 and kickstarted the trend of girls collectibles in India, like in global markets a few years ago. Along with Hatchimals, L.O.L, Hairdorables from Just Play, Bananas, and Twisty Petz apart from others, WinMagic Toys has been leading in the girl’s collectibles category in the Indian toy industry.

WinMagic Toys – Target Market Size

With 26% of the population under the age of 15 years, it’s no surprise that the Indian toy industry is accelerating. Valued at USD 1.5 Billion in 2018, registering a CAGR of 15.9% during the year 2011-2018. According to market research firm IMARC, the market is further estimated to cross USD 3.3 Billion by 2024, growing at a CAGR of 13.3% during 2019-2024.

The estimated Rs 2-lakh-crore global toy market is dominated by China (from a manufacturing point of view, America is the biggest from a consumption point of view), which sells close to Rs 1.4 lakh crore worth of products annually. In India, the toy market is dominated by unbranded Chinese products with 90% of the market being unorganized.

In a post COVID scenario, toys & games, and in general kids play assumes even more relevance with kids and parents staying more at home.

Founders of WinMagic Toys and team

Mukesh Jagwani is the founder of WinMagic Toys.

Mukesh Jagwani - WinMagic Founder — Mukesh Jagwani – WinMagic Founder

Mukesh has over two decades of practice including leadership roles in setting up multinationals in India to leading start-ups to profitability and turnover goals. He is a complete believer in empowering people to be the best they can be, unconditionally, and, in keeping commitments ruthlessly!

The management team comprises of:

Heena Natu – National Sales Manager (Key Accounts & Exports) with over 13 years of experience in modern trade (retail chains) account management, ex Mattel, Ex Pepe Jeans.
Shailesh Kumar – National Sales Manager – General Trade with over 18 years of experience in general trade distribution, Ex Funskool, Ex Nuby.
Surabhi Mathur – Marketing Manager (INDIA & SAARC) with over 10 years of experience in Marketing communications – ex EURO RSCG, EX Times of India, Ex Business Standard.
Sandeep Nirban – Finance Manager. Chartered Accountant, MBF with over 7 years of experience, Ex Reliance, CIPLA.

Heena, Shailesh, and Surabhi are part of the founding team along with Mukesh.

The current company size of WinMagic Toys is around 50 employees. The recruiting team is very selective about hiring talent. They always look for character and not personality. Since the team firmly believes that character is in-built and personality is what you acquire and get trained in.

To elaborate, they look for qualities like energy, enthusiasm, willingness & intent to take responsibility for not only their job description but also have a natural intent to help & support others, humility, integrity, and authenticity. In addition to character traits, they work on training people on maturity and ability to get things done through a work environment that is straightforward and holds people to account.

They focus a lot on training people for their development and growth – not just for business but overall holistic growth of an individual and the team looks at life as one. Not a split between work and life. When people grow, they bring all about growth to be it at home or work.

WinMagic Toys – Name, Tagline, and Logo

Winners with the magic of play made WinMagic Toys!

WinMagic Toys – Startup Launch

WinMagic Toys are known for their freshness and new ways to play at retail. Since its inception, India has seen some of the categories that never existed in the country in the toys and games aisle before. It created Collectables as a category with iconic brands like Shopkins. They launched all globally successful brands including – LOL Surprise! Dolls, Hatchimals Colleggtibles, Hairdorables, Soft n Slo – squishable, etc.

WinMagic Toys always offers brands and play patterns that are trending globally. They are dominating the retail aisles with the latest DIY trends. For the girls, the categories were limited to dolls and a few accessories, however, the company has brought all these different categories into the country.

Preschool aisles were dominated traditionally by brands like Thomas or Fisher-Price which are owned by legacy players like Mattel, who has been in the country for 30 years. And nothing changed for the past 30 years, companies were averse to getting anything new to India. But, WinMagic Toys decided to change that and offered consumers products that have been trending globally and created that access for Indian consumers to world-class toys.

It launched the 3 biggest Preschool properties in India- Paw Patrol, Peppa Pig, and PJ Masks, which are the dominating brands at retail as well as on TV as content. From a retailer point of view, they always bring in a portfolio that is unique or differentiated from a price perspective.

The success of the WinMagic model can be attributed to three major factors that are key to their way of working:

Firstly innovative, on-the-trend, and unique feature-driven products and a category domination approach.

“We do not mind cannibalizing ourselves at the aisle, as, if we do not, then we are leaving ourselves open for a competitor to do that. We grow by increasing our category share even if we may have brands that compete within a category. Like Paw Patrol, Peppa Pig and P.J Masks, or the many collectible brands in the girls’ aisle.”, explained Mukesh.

The second factor is retail visibility & break-through marketing that enables their products to stand out at retail and have a strong recall amongst the kid fans.

“For example, at Toys “R” Us, we have 26 dedicated brand spaces and at Hamleys all our brands are present with key brands like Paw Patrol and Hatchimals occupying dedicated spaces. This approach has enabled us to be a top 3 vendor at all the retail points including an over 20% share of the shelf at top mom & pop retail outlets in the country.”, said Mukesh Jagwani, founder of WinMagic Toys.

Finally, the company’s industry and functional expert teams apply the right load of energy, ownership, and meticulousness from product selection to business operations at all levels.

WinMagic Toys – Marketing Approach

They are a marketing-oriented company and their marketing team does not follow the box-in-box-out approach. They believe in launching unique marketable concepts and back them up with 360-degree marketing efforts. WinMagic Toys’ social media campaigns are appreciated by retailers and the team is the trailblazer on the digital front in the industry.

Some of the key marketing tie-ups of the company include:

Youtube Sensation and a famous toy reviewer – My Miss Anand
Hatchimals video that was viewed 4.2M times –

Hatchimals video

Wrapples Dance challenge with 3.8M Views –

Wrapples Dance challenge

WinMagic Toys has also partnered with Child actor Myra Singh, from Kulfi Kumar Bajewala.
Wrapples Dance Challenge
WinMagic Toys’ Social Media Handles

WinMagic Toys – Business Model and Revenue Model

Revenue Generation Model – WinMagic Toys directly sells to retail chains, and resellers on Amazon, Flipkart. It also sells to sister concerns of Amazon, Flipkart, etc. Being a foreign-funded company, they cannot do multi-brand retail. In the General trade sector, it supplies to the sub-distributors who then in turn supply to mom and pop stores. The company caters to 3000+ stores. It works on a Firm sale Model.

“We cater to an upmarket target group and follow a consumer-centric ‘perceived-value’ pricing model. We always strive to position our products well within the perceptual price elasticity that our consumers are willing to accept, happily. To achieve that we follow a line pricing financial model, and always work with suppliers who understand the Indian consumers’ price sensitivity and are willing to move most favorably on unit costing.”, added Mukesh Jagwani, owner of WinMagic toys.

This ensures that they can make the right pricing available to the consumer. For a target group looking at a lower price band, they have their private labels and they plan to aggressively expand this business. WinMagic Toys provides a price point of as low as Rs 50 to as high as Rs 15,000.

WinMagic Toys – Startup Challenges

The challenges that WinMagic Toys faced were – Duplicates, unorganized nature of trade, government regulations, experiments: cash & carry model, launching collectible toys, new/trending brands like Paw Patrol, Hatchimals – even though expensive, PJ Masks, and branding the generic category like bubbles.

In India, the toy market is dominated by unbranded Chinese products with 90% of the market being unorganized. These Chinese toys do not comply with the channel, quality or safety norms and thus turn out to be much cheaper for the Indian consumer, whose purchase decision is heavily influenced by price. It’s not uncommon to see small mom and pop stores selling Chinese replicas of the Disney/Marvel or DC line of toys due to their ever-increasing demand.

However, making licensed, high-quality international brands available in India continues to be a challenge due to tough import norms and the recent increase in import duty. As a result, small businesses, who wish to legitimately license and sell these products suffer, while low quality, low-cost Chinese toys continue to flood the market.

WinMagic Toys – Growth

With a veritable portfolio of world-class brands of toys, games & kids merchandise, WinMagic Toys has a presence across all the major toy retail chains namely Hamleys, Toys “R” Us, Landmark Stores, Shoppers Stop, Crossword, Hyper City, Lulu along with 3,000 Mom & Pop stores and over 20,000 outlets for mass products through wholesalers.

The company has also partnered with all major online channels including Amazon, Flipkart, Firstcry, Hopscotch, etc. With legendary brands in the portfolio like – Paw Patrol, PJ Masks, Hatchimals, Shopkins, etc., WinMagic Toys is the No.1 third party distributor in India in the toy specialty channel.

In under 3 years, the company has grown its portfolio to 40 plus brands and plays in 84% of addressable toys & games categories at retail. The year 2020 is the year of boys, with the likes of Batman, DC, Monster Jam and Bakugan from Spin Master slated to launch in the next few months, and brands like Infinity Nado, that was recently acquired & re-launched, and Treasure X the boys collectible brand launched in the first half of 2019, going steady at retail.

WinMagic Toys today are India’s largest independent distributor in the toy specialty channel, competing with a few of the legacy players, like Mattel, Hasbro, and Funskool who have had their presence in India for more than 30 years. In 2019, they sold more than 100 crores worth of toys from retail, which marks the fastest growth by any player in the industry over the years!

Some of the suppliers of WinMagic Toys are Spinmaster – World leader in innovative toys, Just Play – A manufacturer known for its high-class plush toys, and Moose Toys – A company that created a revolution in the collectible’s category. Some of the customers are Hamleys, Toys “R” Us, Crossword, Amazon, Flipkart, and Firstcry.

WinMagic Toys – Future Plans

WinMagic Toys has plans to constantly innovate & upgrade their portfolio. They will be soon adding world-class toys like Batman & DC action figures, Bakugan, Monster Jam vehicles, and its own unique private labels in categories like Games and Puzzles, Sports Goods, & Impulse Play.

The top 3 ranked vendor, with retailers like Hamleys & Toys “R” Us, WinMagic Toys has always been ahead of the curve. Having already crossed Rs. 60 crores in revenue in 2019, the company is sure to cross Rs. 100 crores by FY 2020. Marching forward, WinMagic Toys aims to go for listing besides generating a turnover of over Rs. 500 crores in the next five years.

March 30, 2021

Craftsvilla – Ethnic Junction with Artistic Products of Top-Notch Quality!

The Indian handicrafts sector provides livelihoods to millions of people around the country, especially women. However, linking small-scale rural producers to urban and global markets has been a challenge. Efficiently connecting buyers and sellers in the handicrafts and handmade clothing market could have an exponential impact by improving the incomes of the poor and help preserve crafts that are rapidly disappearing. CraftsVilla.com is aiming to do exactly that, using the power of the Internet.

In a world full of trends, being a classic is what Craftsvilla is all about. Selling ethnic apparel and accessories on its online portal since 2011, Craftsvilla was launched by Manoj Gupta and Monica Gupta.

Craftsvilla – Company Highlights

Startup Name	Craftsvilla
Headquarter	Mumbai, India
Sector	E-Commerce
Founders	Manoj Gupta, Monica Gupta
Founded	2011
Parent Organization	Craftsvilla Handicrafts Pvt Limited
Website	craftsvilla.com
Contact	customercare@craftsvilla.com

Craftsvilla – About and How it Works
Craftsvilla – Products and Services
Craftsvilla – Founders and Team
How was Craftsvilla Started?
Craftsvilla – Business Model and Reveue Model
Craftsvilla – Funding and Investors
Craftsvilla – Startup Challenges
Craftsvilla – Name, Tagline and Logo
Craftsvilla – Competitors
Craftsvilla – Growth
Craftsvilla – Revenue
Craftsvilla – Acquisitions
Craftsvilla – Future Plans
Craftsvilla – Partners
Craftsvilla – FAQs

Craftsvilla – About and How it Works

Craftsvilla is essentially an e-commerce portal based out of India that mainly sells ethnic items for women like ethnic apparel, ethnic footwear, ethnic fashion accessories, ethnic handcrafted home accessories, and ethnic fashion and lifestyle products along with other parallel industry products like beauty products.

Founded in 2011 by Monica & Manoj Gupta, Craftsvilla is an online marketplace for unique handmade, handcrafted, organic, and gift items. The startup claims to have over 25,000 sellers on its platform, selling close to 3.5 Million products.

The platform aggregates artisans, designers, and retailers from all around the country on a single platform and directly connects local artisans and designers to global customers over the world. Also, this startup over all these years has launched several in-house brands namely Anuswara, Avanya, and Jharokha, all in the affordable and classy ethnic and handloom segment.

Craftsvilla – Products and Services

Craftsvilla ship globally and it’s free for goods worth more than $250. The startup claims to have over 25,000 artisans and designers selling over 4 million products. The products are categorized into different segments like Jewellery, Handbags, Home Décor, Clothing, Food & Health, and Footwear etc., each further divided into sub segments.

About 80% of the buyers are women. The push has been to revive handicrafts and make it conveniently accessible. They try to keep things colorful and lively and that attracts the 18-35 age group buyers. More than 50% of the orders come from Tier 2 cities. And as it is with e-commerce portals in India, 50% of sales are Cash On Delivery (COD).

Voonik – Founders | Funding | Business Model | Competitors

There was a time when girls used to take their friends to go shopping just tohave a little help in the selection process. Roundabout the same time, peoplewere paying huge amounts to the stylists and designers to get a personalizedstyle statement. To shift this paradigm online and optimize the who…

StartupTalkyVidhi Punamiya

Here are some examples of what you can expect on Craftsvilla:

The collection of Gowns is an ode to fusion friendly fashion and perfect for all sorts of occasions.
Their drape collection is quite enviable as it includes a plethora of styles including, Printed, Traditional, Designer Sarees and fabrics like Cotton, Satin, Art Silk and Georgette Saree.
They have new and novel collection of Kurtis full of embellished styles, embroidered kinds and hues of every kind.
There are times when you need an ethnic ensemble that is not only trendy but also timeless in terms of style, splendour and a perfect fit for that special occasion. That’s where their latest range of Lehengas comes in! From Net Lehenga Cholis to hip and happening co-ordinate Designer Lehenga Sets, Craftsvilla have it all!
Complete with traditional kinds like Silver, Golden Plated and Oxidised, their collections of Earrings and neckpieces have something for everyone, right from statement making to subtlety sensational ones.

Craftsvilla – Founders and Team

The founders of Craftsvilla are Manoj Gupta and Monica Gupta.

Monica Gupta and Manoj Gupta are founders of Craftsvilla — Monica Gupta and Manoj Gupta

Manoj Gupta, Founder and CEO – He is an IIM graduate and a venture capitalist, founded Dreams Early Stage Fund and was Board Observer at Snapdeal before launching Craftsvilla. Prior to Craftsvilla.com, Manoj was Principal at Nexus Venture Partners where he invested in ecommerce companies in India. Manoj has also started a Tech company in San Diego, US from 2001-2006.
Monica Gupta, Founder and COO – She is graduated from San Diego State University.

How was Craftsvilla Started?

The idea for Craftsvilla struck the couple during their visit to Kutch, the hub of ethnic apparel and accessories. They saw supply in abundance with no channelized demand segregation and a portal that could connect the suppliers and the buyers not just in India, but globally. This is exactly how Craftsvilla was born.

Following this, the company was launched by Manoj Gupta and Monica Gupta in 2011 with funding from Nexus Venture Partners and Lightspeed Venture Partners. Initially, this ethnic-focused startup was incepted with 80 employees and 5 offices across the country.

But it so happened that by 2012, this venture completely exhausted the entire amount of INR 10 crore series-A funding. And due to this, the company had to downsize to an only 10-member team and carried their business operations in a small one-room office.

With the downsizing coming too early for Craftsvilla, if it was anybody other than Manoj Gupta, they’d have easily given up. But not the Craftsvilla founder. He kept faith in himself, in his idea, and his passionate team of 8. And in just a short span of 5 years, this ethnic fashion portal, Craftsvilla went from an allegedly failed startup to a big-named company with a huge valuation of $250 million with more than 4 million products in its inventory.

Craftsvilla – Business Model and Reveue Model

The business model of Craftsvilla majorly focuses on removing middlemen from the supply chain mechanism and increasing the livelihood of local artisans and cultured designers to help them create/promote their brand, with preserving the Indian culture, traditions, and values in a broader picture. In current times, the company charges a 20% commission on every transaction which excludes service tax.

Craftsvilla – Funding and Investors

Their latest funding was raised on Mar 20, 2020 from a Venture – Series Unknown round.

Here is a list of all the funding rounds of Craftsvilla:

Date	Stage	Amount	Investor
October 2011	Venture Round	–	–
June 2012	Series A	$1.5 million	Lightspeed Venture Partners, Nexus Venture Partners
April 2015	Series B	$19 million	Sequoia Capital India
November 2015	Series C	$34 million	Lightspeed Venture Partners, Sequoia Capital India
February 2019	Venture Round	₹40M	Supera
March 2019	Venture Round	₹30M	Supera
April 2019	Venture Round	₹170M	Supera
May 2019	Venture Round	$34M	Supera
March 2020	Venture Round	₹294M	Supera

Craftsvilla – Startup Challenges

Normally, entrepreneurs face challenges after the inceptions of their startups. This was not the case with Manoj Gupta. He faced the most crucial challenges right before launching Craftsvilla. It so happened that when Manoj presented his idea of launching an online portal that would sell ethnic stuff to his friends and family, he, unfortunately, received a lot of unenthusiastic feedback relating to it.

Most of his acquaintances pointed out that there is no real market for ethnic fashion wear and there clearly hasn’t been a successful replica of it in the industry across the globe. But Manoj was firm on his idea and despite negative response, Manoj believed in his entrepreneurial idea and the potential that he saw in the untapped market filled with opportunities. Later in the same year, he went ahead and launched Craftsvilla with his wife.

Craftsvilla – Name, Tagline and Logo

Craftsvilla has a tagline. “The Marketplace to discover India”. This tagline goes perfectly with the site, because it has huge range of Indian products & almost all the products are made keeping in mind the Indian craft & culture.

Craftsvilla – Competitors

There are a lot of e-commerce portals in the country that deal with ethnic fashion and lifestyle products combined with other western and beauty products. Hence Craftsvilla competes with big and small online marketplaces like Myntra, LimeRoad, Voonik, Amazon, Flipkart, and Fabindia among many others.

FableStreet Success story – Fablestreet Founder,Revenue.Funding,Business Model

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. Female office goers often feel the boredom with kind of formal and semi-formalapparel that they …

StartupTalkyVidhi Punamiya

Craftsvilla – Growth

Craftsvilla has more than 62 outlets in total across India in cities such as Pune, Mumbai, Hyderabad, Kolkata, Kochi, Kolhapur, Coimbatore, Delhi, Chandigarh, and Varanasi.
This ethnic fashion and lifestyle online marketplace is pegged at around $300–500 million in size.
It claims to have over 25,000 artisans and designers on board.
Craftsvilla currently is selling over 4 million products.

Craftsvilla – Revenue

In FY18, Craftsvilla’s revenues spiked by 3.6% from Rs 30.35 crore in FY17 to Rs 31.45 crore. The expenses from Rs 116.33 crore to Rs 59.13 crore. Losses followed the pattern and decreased from Rs 85.98 crore to Rs 27.68 crore.

Craftsvilla – Acquisitions

Craftsvilla acquired 3 organisations – F2SO4, Place Of Origin and Sendd.

Acquired	Date	Amount
Sendd	January 2016	$4.5 Million
Place of Origin	February 2016	–
F2SO4	April 2016	–

Place of Origin is an online retailer of ethnic food curated from sellers around the country. The online platform currently offers a range of products, from sweets and confectionary to local snacks and health food sourced directly from sellers across several cities.

Chandigarh-based F2SO4 was founded in 2015 by Delhi-based IIT alumni, Amrit Singh and Sachin Goel along with Partik Bhuchar. The startup was an app-based venture that offered branded and high-end designer clothes on rent. The startup was earlier bootstrapped and was founded as an apparel-as-a-service platform.

Craftsvilla – Future Plans

For the future goals, Craftsvilla is aiming straight on pushing its offline foray. For the same, the venture is also planning to invest INR 100 crore to open more than 1,000 outlets in the coming years.

Craftsvilla – Partners

Craftsvilla has tied up with the Ministry of Textiles, Government of India, for e-marketing of handloom products from small weavers. As per this agreement, Craftsvilla has tied up with Weavesmart, an online marketplace that offers handloom weaves from across India.

Craftsvilla – FAQs

Who is Monica Gupta?

The founders of Craftsvilla are Manoj Gupta and Monica Gupta.

What is Craftsvilla?

Craftsvilla is essentially an e-commerce portal based out of India that mainly sells ethnic items for women like ethnic apparel, ethnic footwear, ethnic fashion accessories, ethnic handcrafted home accessories, and ethnic fashion and lifestyle products along with other parallel industry products like beauty products.

What is the Tagline of Craftsvilla?

“MarketPlace to Discover India”

What is the Business Model of Craftsvilla?

March 26, 2021

HiGrocer – Catering to the Needs of Your Neighbourhood Grocers

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

HiGrocer India offers wide range of Comfort Food Products. HiGrocer enable every retailer to compete with organized giants and e-commerce, by their Last Minute SKU range of Quality Products Chained by Technology.

HiGrocer has a mission to partner with millions of retailers (by becoming their Trusted Brand and Supply chain partner) making it the biggest and quickest go-to-market channel for products and services. They are focussing on solutions for the grocery online end-to-end management system.

HiGrocer – Company Highlights

Startup Name	HiGrocer India
Headquarter	Mumbai, India
Sector	Consumer Product Company
Founders	Dharit Parikh & Aniket Sharma
Founded	2019
Parent Organization	HiGrocer India LLP
Website	higrocer.com
Contact Email	info@higrocer.com

HiGrocer – Target Market
How was HiGrocer Started?
HiGrocer – Product/Services
Founders of HiGrocer and team
HiGrocer – Name, Tagline, and Logo
HiGrocer – Business Model and Revenue Model
HiGrocer – Startup Launch
HiGrocer – User Acquisition and Growth
HiGrocer – Startup Challenges
HiGrocer – Future Plans
HiGrocer – Funding and Investors

HiGrocer – Target Market

In India, the rate of urbanization has increased to a considerable level since the 2009 census, as per the United Nations (UN) World Urbanization Prospects 2018 report. There has been a noteworthy change in the eating habit in Metropolitan Cities. Due to the fast-paced life in urban cities, about 79% of the urban people prefer to have ready-to-eat food in their regular meal.

The reasons behind the increase in the use of comfort food in urban cities are the steep rise in income, the standard of living and convenience. Mostly, in a small family where both husband and wife are working, they prefer having ready-to-eat food for their children. It has become the most favorite and convenient part of their meal.

The Indian middle class is growing and so is their buying capacity and demands. They love to try on new products that come in the market. They prefer premium products; explore comfort food in the ready-to-make mobile SKU and easy-to-eat category.

Rural India provides a great opportunity for the comfort food and beverages industry. As almost 65% of the total Indian population lives in the rural region. They are attracted to food products of urban cities. The buying capacity of rural households has also increased in recent years due to benefits from investment in infrastructure and rising wages.

How was HiGrocer Started?

It was somewhere in mid 2018 when we brainstormed of creating our own Consumer Product Company. Once the calling was clear we left our respective erstwhile FMCG Leadership roles to commenced with our calling in the Business.

We did dipstick understanding on the sub industry we would like to cater in FMCG with a criteria of continual offtake, counters with higher ticket and demand oriented category; Food which is ever evolving and innovating was an obvious choice of offering.

Our Product Categorization is an outcome of this focused Customer Segmentation, Secondary being the Unorganized retailers which has become Last minute consumer Shopping Hub because of organised players amidst our Primary Audience which being the Urban consumers aged between 16 to 40 yrs their Fast changing urban lifestyle resulted into the growing demand of Comfort Foods.

Our Agenda is going National, hence at planning stage itself we brainstormed the possible scale of Operations and Solution towards it. Thinking about the same we developed Integration of SaaS Technology in our business enables market access concept whereby a product can be directly delivered to the retailer’s shop from the manufacturer’s factory through our SalesMax & Delhi mechanisms without having to go through the multiple layers of marketing, thereby providing an efficient & effective Supply Chain system.

Around mid 2019 we entered One market with our first RTE Product – Idli dosa batter ‘Ayyappa’, since then we have been growing in terms of Product offering and Shelfing Counters.

Thereby, Our Go To Market Business Model brings Scalability, Flexibility, Empowers Retailers & Building Brands.

HiGrocer – Product/Services

Helping Unorganized Retailers in FMCG with Accessibility, Affordability and Assistance in more Earning Power.

HiGrocer India as marketer offers wide ranges of Comfort Food Products. As our name suggests we are catering to neighbourhood grocers to answer consumers’ thirst for premium quality and Last Minute SKU Products, as the Urban Indians aged 16 to 40 years are part of fast changing urban lifestyle constitutes the major segment of this market. They spend over 40 percent of their income on food, are ready to experiment, and are willing to pay a premium for better quality, variety, and taste. We under the Name of HiGrocer India cater to these Indians, with our Last Minute Range of Products and its SKU.

Currently we have 10 Products across 3 categories and 3 Brands, we pivoted with our Idli Dosa Batter ‘Ayyappa’ and gained momentum for other range of products across categories i.e Frozen Snacks and Staples.

We commenced with Batter as it is a daily need product which gives us accessibility with retailers thereby build relation which makes shelfing of our other products easy and faster.

Founders of HiGrocer and team

Dharit Parikh & Aniket Sharma, both are qualified and respect each other domain experts of being an IIM graduate with 15 years of work-ex expert in Sales & Marking & other being CA with 9 years in work experience, managing Finance and Products, respectively. We have a team of 20+ and with each Delivery Centre Opening we will add 10 more in each. Even in Field staff we seek entrepreneurship skills, thereby the culture at HiGrocer is competitive, enabler and proactive.

HiGrocer – Name, Tagline, and Logo

Our Business Model is a basket Approach hence Commanding Shelf at the Counters we are present especially at the Kirana Stores. Therefore, We wanted a name which Resonates Trust with Casual atmosphere, thereby ‘Hi’ build friendliness in the conversation and because we in the Consumer product Food business ‘Grocer’ stands for ‘Grocery’ which resonates Trust.

Secondly, We are Consistent, Respects Boundaries, Show Gratitude and Don’t compromise in maintaining relations are the characteristics we would like to be known for.

Hence, A friendly neighborhood Grocer is ‘HiGrocer’ as a name builds, under the affirmation of Quality Assurance and at Best Price, which makes out Tagline Quality Bhi, Daam Bhi.

On our Logo thereby the word has cautiously been written in 2 different fonts and Red is the color of passion, strength, sensitivity, etc. also gets easily identified in the clutter.

HiGrocer – Business Model and Revenue Model

We are in the Consumer Product Business, building consumer Brands is what we endeavour for long run, the path to that is the journey we are crafting with our Business Operations

We have our own plant for one of our category of products and for the rest we do Contract Manufacturing. As we are a firm believr of Basket Approach with a Concept of Shared resource in FMCG to create the most advanced Sales and Distribution model which gives maximum retail coverage which is Marketed by HiGrocer

We do the Retail tie-ups and ensure product placement, our tie-ups with retailers are made with a committed shelf space or gondola space named “HiGrocer”, and we have a dedicated planogram for the shelf and Trade commission bundled in each every sales made.

Our Partnered Products are warehoused in vicinity directly from the manufacturers factory and delivered to the retailer shop tethered by our Technology Platform of SalesMax & DelHi mechanism without having to go through the multiple layers of Marketing, thereby providing an efficient & effective Supply Chain system.

HiGrocer – Startup Launch

Around mid 2019 we entered One market with our first RTE Product – Idli dosa batter ‘Ayyappa’, we categorically chose this as an entry product as it gives us leverage of providing Regular service and build Relation with retailers being a new entry this was very important for us.

Today, we are serving almost 2000 Retailers in a single market. We have 10 Products to offer across 2 Categories and 3 Brands (Idli Dosa Batter, Frozen Foods and Staples). Our Go To Market Business Model brings Scalability | Flexibility | Empowering Retailers | Building Brands.

HiGrocer – User Acquisition and Growth

As HiGrocer, We are providing Shelf of Hi Quality Premium products with On the GO SKU range, which enhances Customer Needs & Retailers Greed. Our tie-ups with retailers are made with a committed shelf space or gondola space named “HiGrocer – Quality Bhi, Dam Bhi”, and we have a dedicated planogram for the shelf. Idea is to build HiGrocer as a Trusted brand amidst Consumers as we will market all products as ‘Products from HiGrocer’, which Promises Quality and Price. We have and will always have a Basket Approach in building a dedicated HiGrocer Shelf at the Neighborhood Stores. All at the palm reach as we are chained with Technology, which will enable us to keep our operation cost at marginal and enhance off-takes.

So By the end of Half a Decade existence as per our plans we will have a bank of more then 50 SKU’s across 6 Categories trailing each with a minimum existence of 3 years. We, at the end of 60 months would have our market penetration across 25 cities mix of Metros, Tier 1 and Semi Urban spread over 50k retailers.

HiGrocer – Startup Challenges

We are living in a Demand Centric world, which makes our Future with Opportunity; India is the world’s fifth- largest consumer economy by 2025, up from the current 12th position.

Secondly we are Acing Products and Brand builder in an organized way catering via unorganized market, support to them will generate Push and our Media Marketing will generate SOV and Demand.

Our Challenges are with the Competition and we have a plan for that, we have identified our competition below in 2 parts:

Branded Consumer Products

This is a Direct Competition. They do Contract Manufacturing of their Products and retail it across Shops, with traditional way of Distribution thereby offering minimum margin to retailers and shelving because of Advertising Demand. At HiGrocer, We have multiple advantages in our Trade We Work on Delivery Centre Model (from manufacturer to our warehouse directly), which gives miss to traditional channels of Distribution, and our Ready stock Delivery to retailers ensures regular Service and Product Shelving. Thereby, we offer almost 2- 3 times of the current market margins, with similar high quality Product, as we miss traditional distribution

Non-branded Consumer Products

This is a Indirect Competition. They Supply Retailers in loose form, which is either/or, repacked under retailers brand or sold as it is. We work on Delivery Centre Model, which gives miss, to traditional channels of Distribution. Our Ready stock Delivery to retailers ensures regular Service and Product Shelving likewise to our non- branded product suppliers.

Margin: We offer similar margins, with high quality Product bundled with Brand Assurance, which is lacking by non-branded suppliers.

HiGrocer – Future Plans

We are currently retailing in approx. 2000 stores with 10 Products, 3 Brands, 2 Categories, By the end of Half a Decade existence as per our plans we will have a bank of more then 80 SKU’s across 6 Categories trailing each with a minimum existence of 3 years. We, at the end of 60 months would have our market penetration across 15 cities mix of Metros, Tier1 and Semi Urban spread over 50k retailers.

Also, by the Decade of existence apart from our respective Brands, HiGrocer would also be a Trusted brand name as all our products are marketed as Products From Higrocer. Which would unfold the potential of future Business integrations and Cross Selling’s.

HiGrocer – Funding and Investors

We are Bootstrapped company and have decent runway with us, though we are in talking terms with few VC’s who shown Faith and Interest in HiGrocer, we will come back to you on this space soon.

April 27, 2020

STEPapp – Startup Which Gamifies School Education

Education is one of the important things for people living in this world. As one important area, we can utilize education in many fields of operation and in our day to day life. Edtech startups in India are changing the scene of education in India. They are making it interesting to learn new things. It ultimately help the nation because we know that children are the future of our country.

India suffers from skewed pupil-to-teacher ratio, which is rising and it compromises a complete learning experience for students in schools. And hence, these technology-driven learning apps are using gaming elements to help boost the learning process for students and sharpen their basics in various subjects. One such company is EduIsFun providing the product STEPapp. Read this article to know more about STEPapp.

STEPapp – Company Highlights

Startup Name	EduIsFun
Headquarter	Mumbai
Sector	Education Technology (EdTech)
Founder	Praveen Tyagi
Founded	2015
Parent Organization	Eduisfun Technologies Pvt. Ltd.
Website	stepapp.ai
Contact	support@stepapp.ai

Stepapp – Vision and Mission
Stepapp – Target Market
How was Stepapp Started?
Stepapp – Product/Services
Founders of Stepapp and team
Stepapp – Name, Tagline, and Logo
Stepapp – Business Model and Revenue Model
Stepapp – Startup Launch
Stepapp – User Acquisition and Growth
Stepapp – Startup Challenges
Stepapp – Future Plans
Stepapp – Funding and Investors
Stepapp – Advisors and Mentors
Stepapp – Recognitions and Achievements

You can also have a look at the top Edtech startups in India for some inspiration.

Stepapp – Vision and Mission

STEPapp believe in primarily providing a level playing field in education. The idea is to bolster four key parameters that make education effective and complete. These key parameters are AQEA: Accessibility, Quality, Enjoyability, and Affordability.

They aim to provide universal access to quality education for every child using technology and gamification. The company’s mission is to create a bank of meritorious children who will be transformed into national assets.

Stepapp – Target Market

Stepapp is from the Ed-tech industry. Their target group is school going students and the total market size (as per MHRD statistics) is 255 million students currently. And there will be significant growth in this industry due to two reasons.

Firstly, India has the youngest population in the world and it will continue to be so at least until 2030 (as per UNESCO). By 2022 the number of school going students will be 300 million. Secondly, the current crisis has strongly underlined the urgent need for education to go digital and technology-enabled.

How was Stepapp Started?

After 22+ years of teaching, grooming, guiding, and mentoring some of the finest minds of this country through PACE IIT & Medical, there was already an established niche for them. They know Building a technology solution in education is a new ball game altogether. They are trying to solve the two major issues that prevail in our country:

Educational Inequalities in India
Low Technology Adoption in India

Both of these issues individually create a divide between the latent potential existing in our country, especially in the villages and towns, and the culmination and representation of that talent on a global scale.

The startup’s main idea was to bridge this gap between rural and urban educational opportunities and provide a level playing field for students of all classes. Secondly, as the world is moving fast in terms of technology, they wanted to provide students with the latest educational technologies for them to stand stronger and smarter.

Also read: How Byju’s is Making Millions of Students Fall in Love With Learning

Stepapp – Product/Services

STEPapp is a gamified, personalized, interactive and adaptive learning app that makes learning Math & Science fun and interesting for school students. STEPapp offers the students of grades 1st to 12th a great opportunity, to experience a virtual gamified learn from home solution that enables the students to learn and play at the same time. This gives the students a conceptual clarity while making the studies interesting too.

STEPapp is an innovative way to learn concepts while ensuring that all the stakeholders (parents, principals, teachers, and students) are aware of the learning outcomes at all times.

Following are some of the features of STEPapp:

Gamified Format: The gamified format of STEPapp helps the students learn the topics in an interesting way thus keeping them engaged.
The syllabus is broken down into small conceptual quanta: STEPapp makes learning seamless by replacing long lectures into small conceptual quanta.
Simplified testing methodology and measurable learning outcomes: STEPapp allows the students to measure their learning outcomes in a simplified manner. The outcomes are measured on the basis of speed, accuracy, and the number of attempts.
Self-paced learning: Students can control their learning pace by revising the concepts and relearning the topics.
Content created by 400+ IITians and Doctors: For better learning outcomes, the syllabus of STEPapp is designed and curated by the expertise of 400+ IITians and doctors, simplified in gamified format.
Rewards and recognition: Students get motivated to learn and study when they are rewarded and recognized.

Founder of Stepapp and team

Praveen Tyagi is the founder and CEO of STEPapp. Sandeep Singhal is Chief Business Officer and a Physics Mentor and Gaurav Goyal is the Chief Technology Officer at STEPapp.

Praveen Tyagi is founder and CEO of Stepapp. — Praveen Tyagi

STEPapp is created with a team of 400+ IITians and Doctors with over 5 years of extensive research. The concepts and content are generated and created by the extensive research of these 400+ IITians and Doctors, who have combined their knowledge and intelligence for creating such content that is easily understood by the children without any hindrances.

Apart from these, they have other teams that are constantly aiming to provide a level playing field for students and help the company in fulfilling its mission and vision.

Stepapp – Name, Tagline, and Logo

STEPapp or Student Talent Enhancement Program is a gamified app that enables the students to have a learning experience through a level playing field. The gamified approach helps the students to learn their concepts in an interesting way.

STEPapp Logo

When the student clears a chapter in the app, the virtual character in the app goes a ‘step up’ to the next level. This up-gradation of a student from one chapter to another or stepping up to the next level ideated them to give the name STEPapp and also represented in the logo.

Relevant read: List of EdTech Startups in India | Emerging Education Startups

Stepapp – Business Model and Revenue Model

The startup have two products in STEPapp:

STEPapp Concepts:
The unique, gamified content is mapped to the school curriculum and it has been broken down into small nuggets of information so students can grasp the concepts easily. The content has been created by 400+ IITians and Doctors to give students conceptual clarity in math and science. The product is priced at ₹ 5000. This is currently available for 6th – 10th for CBSE and ICSE boards.
STEPapp Scholarships:
Top 10,000 performers from each grade (6th – 12th) win prizes ranging from ₹ 5000 to ₹ 1 crore from a total pool of ₹ 50 crores. The Enrollment fee is priced at an affordable rate of ₹ 500, to ensure that nobody misses out on the opportunity. The rewards encourages the students to perform better. Winners are mentored and guided by the expert team for their future endeavours.
Grades 1st to 5th app:
They are soon rolling out a new product for grades 1st to 5th in the next few days. The aim is to make learning fun and enjoyable for all school students.

Stepapp – Startup Launch

The company started its journey by implementing STEPapp in various government and private school chains. They received an extraordinary response and great reviews from students when they played the game while learning the concepts in the app. This is what encouraged them to start implementing STEPapp in more schools and this is how they got their first 100 users.

We had approximately 1 million downloads within the first month of our launch. We are focused on improving and innovating more products and services to enhance the students learning experience and that is the only marketing technique we are focusing on – Praveen Tyagi, Founder and CEO of STEPapp.

Stepapp – User Acquisition and Growth

This product is not a push product but a pull product. Since the mission of the product is to impart knowledge and provide it to the children, they have always aimed to strategize their activities to fulfill this mission. They aim to provide the students to get the conceptual clarity by the content created by 400+ IITians and Doctors.

Also, they give the stakeholders, i.e. the parents, the teachers and the policymakers, in-depth data on learning outcomes to make informed decisions about the child’s career through the interactive STEPapp Dashboard.

Must read: Coursesity- Getting all the Online Courses Under One Umbrella

Stepapp – Startup Challenges

One of the biggest challenges that came before STEPapp’s team was to reach out and build connectivity in remote areas and provide them with the e-learning experience. There was also an issue of improper infrastructure to provide school education in many areas in the country.

After extensive research and development of STEPapp, they successfully implemented the offline feature in their app to provide a platform to educate children in the underprivileged areas. With STEPapp, students can now learn and revise the topics thoroughly without any disruption at the ease of their homes.

Stepapp – Future Plans

STEPapp see itself as a global product that has huge potential, not just in the Indian market but in global markets as well. The company is soon rolling out their product for Grades 1st to 5th app. They are also working towards making STEPapp a multilingual product. There are some new features in the product which are currently into BETA testing which will be announced soon.

Stepapp – Funding and Investors

Eduisfun has raised a total of $28M in funding over 1 round. This was a Venture round raised on Dec 24, 2019.

| Date | Stage | Amount | Lead Investors |
|— |— |— |— |— |—
| Dec 24, 2019 | Venture Round | $28M | Amitabh Bachhan, Piyush Pandey |

They are raising funds that will be utilized in strengthening their technological backbone, product enhancement, innovation and distribution on a global level. The startup will be using the funds in innovating more apps that are personalized, gamified, and packed with data analytics features and AI software.

Stepapp – Advisors and Mentors

STEPapp have a team of 400+ IITians and doctors with 21 years of experience in teaching and they are the advisors and mentors.

Stepapp – Recognitions and Achievements

The company have implemented STEPapp in hundreds of private and public schools, where, after playing on the app, students’ performance has improved remarkably. They have recently signed a deal with the Tamil Nadu government to implement STEPapp in their schools which will benefit over 10 lakh students.

They have also implemented STEPapp as a learn from home solution in the reputed Podar Group of Schools. Also, they will have approximately 1 million downloads within a month.

April 25, 2020

Tag: mumbai startup

AAIBA Design – Company Highlights

AAIBA Design – About

AAIBA Design – Founder and Team

AAIBA Design – The Idea and Startup Story

AAIBA Design – Name and Logo

AAIBA Design – Services

AAIBA Design – Business Model

AAIBA Design – Revenue Model

AAIBA Design – Customer Acquisition

AAIBA Design – Achievements

AAIBA Design – Work Culture

AAIBA Design – Competitors

AAIBA Design – Tools Used in the Company

AAIBA Design – Advisors and Mentors

AAIBA Design – Awards and Recognitions

AAIBA Design – Future Plans

FAQs

When was AAIBA Design founded?

Who is the founder of AAIBA Design?

What does AAIBA Design do?

Toppr – Company Highlights

About Toppr

Growth of Toppr During Covid Pandemic

Toppr – Subscriptions

Toppr – Educational Products

Toppr – Funding

Toppr – Business and Revenue Model

Toppr – Growth and Revenues

Toppr – Layoffs

FAQs

When was Toppr founded and who is the founder of Toppr?

Who are Toppr’s competitors?

What is Toppr codr?

What is the revenue of Toppr in FY21?

Is Toppr acquired by Byju’s?

Reliance Jio – Company Highlights

About Jio

JioPhone Next

Founders of Jio and team

Flaunt your startup with StartupTalky

Jio – Startup Story | How was Jio Started?

Jio – Name, Tagline, and Logo

Jio – Business Model and How it Works?

Jio – Growth

Jio – Competitors

Jio – Future Plans

FAQs

What is Reliance Jio Tagline/Slogan?

Who is Reliance Jio Founder?

How much is Reliance Jio Revenue?

Who are Reliance Jio’s top competitors?

How much is Mukesh Ambani’s net worth?

Does Reliance Jio have any subsidiaries?

How much is Reliance Jio’s customer base?

Company Highlights of Miten Says Fitness

Miten Says Fitness – About

Miten Says Fitness – Founders and Team

Miten Says Fitness – How was it Started?

Miten Says Fitness – Name, Tagline, and Logo

Miten Says Fitness – Business Model and Revenue Model

Miten Says Fitness – User Acquisition and Growth

Miten Says Fitness – Startup Challenges

Miten Says Fitness – Funding and Investors

Miten Says Fitness – Advisors and Mentors

Miten Says Fitness – Awards

Miten Says Fitness – Future Plans

FAQ

Who is the founder of Miten Says Fitness?

What is Miten Says Fitness?

Profitable Franchise to apply for:

What is Franchise Business?

Phixman

KFC

Giani’s

Me n Moms

Frozen Bottle

FAQ

Which franchise is best in Mumbai?

What is the cheapest franchise to start in Mumbai?