In a significant indication that the Elon Musk-led electric vehicle maker has begun reconsidering its entry into the Indian market after postponing its investment plans in the nation earlier this year, Tesla has resumed its search for showroom space in New Delhi. At first, Tesla was searching New Delhi for a location for its showrooms. But when the carmaker decided to put the investment plan on indefinite hold, the hunt was put on hold. But now that the brand has resumed its hunt, it might be a significant step for the business to relaunch its India strategy. According to a news agency, Tesla is now in preliminary negotiations with real estate development firm DLF to reserve space in the area around the nation’s capital. In addition, the massive electric car manufacturer is negotiating with other parties.
According to reports, Tesla is searching for 3,000 to 5,000 square feet to build a consumer experience centre and a three-fold larger area for its service and delivery operations. The article further stated that the auto manufacturer is assessing a number of sites, such as the Cyber Hub office and retail complex in neighbouring Gurugram city and DLF’s Avenue Mall in southern Delhi. Additionally, it stated that Tesla is seeking to lease an 8,000-square-foot showcase area at the Avenue Mall. However, nothing has been finalised as of yet, and Tesla is still in the exploratory stage of its quest for showroom space.
Tesla’s Strategy for India: Initial Developments
When Elon Musk, the CEO of Tesla, announced in April that he would visit India to meet with Prime Minister Narendra Modi, the news of Tesla’s foray into the Indian auto sector became widely publicised. It was rumoured that he may announce a $2–3 billion investment in India, which would entail establishing a local facility for the production and assembly of Tesla electric vehicles. This facility would serve as a hub for EV manufacturing worldwide in addition to serving the Indian market. But after Tesla chose to fire 10% of its global workers due to declining sales, Musk abruptly cancelled his trip. Although Tesla began hiring in India in 2021 when it registered as Tesla India Motors in Karnataka, the automaker’s admittance into the country has remained an issue of contention for the past two years.
Tesla’s Demand from the Indian Government
In order to begin formal business operations in India, Tesla requested a reduction in import taxes for its electric vehicles. The Indian government, however, has refused to grant Tesla any special treatment, arguing that doing so would be unjust. Rather, the Indian government has consistently insisted that the EV manufacturer establish a domestic production plant there. Subsequently, the Indian government implemented a policy that permitted Tesla to import specific electric vehicles at a reduced tariff of 15% in exchange for the establishment of a domestic manufacturing and assembly facility in the nation. Following Tesla’s failure to meet its previous investment plans, the Indian government loosened some of its regulations in an attempt to draw in automakers. At first, Hyundai and Toyota showed interest in the move. But in the Indian market, Tesla’s “to go or not to go” strategy continued to be a hot topic of conversation.
One97 Communications, the parent company of Paytm, has been ordered by the Office of Collector of Stamps in New Delhi to pay a penalty of INR 47.12 lakh for failing to pay stamp duty on the allotment of equity shares in recent years.
As stated in a filing with the exchange, the penalty is a consequence of the company’s failure to pay stamp duty in the amount of INR 1,43,16,535 as a result of the allocation of 10,26,386 equity shares, each of which is worth INR 10.
Despite the fact that there were delays of a few days in the submission of some applications, the company submitted applications for the payment of stamp duty at the appropriate time with the Office of Collector of Stamps in New Delhi. In the order that they were submitted, the applications in question have been processed by the Office of the Collector of Stamps.
According to the filing, the company stated, “Firm has taken all of the necessary steps to be more diligent in doing our best to avoid similar instances in the future.”
What Is Stamp Duty?
The government levies a charge known as stamp duty on legal papers, particularly those that pertain to the transfer of property, the issue of shares, and other types of financial transactions.
It is necessary for the legal validity and enforcement of these documents, which are payable when particular transactions take place, such as the transfer of property ownership or the formation of legal agreements.
Paytm Sailing through Troubled Waters
The Financial Intelligence Unit-India (FIU-IND) levied a penalty of INR 5.49 crore against Paytm Payments Bank Ltd. for violating the Prevention of Money Laundering Act earlier in the month of March.
The bank was allegedly involved in supporting illicit activities, such as online gambling, through its accounts, which led to the imposition of the penalty. According to the findings of the Financial Intelligence Unit of India (FIU-IND), the bank has violated the rules regarding anti-money laundering, combatting financing of terrorism, and KYC (Know Your Client).
In its response, Paytm Payments Bank stated that the problems were related to a business sector that had been discontinued and that it has also enhanced its monitoring and reporting mechanisms since previous statements.
This is a warning lesson for all businesses, as Paytm went from being a pioneering firm to having to face regulatory roadblocks. Because of this, the complex equilibrium that exists between rapid growth and tight compliance is brought to light. All companies would be well to take note of Paytm’s experiences and reevaluate their compliance practices in light of these difficulties.
Innovation is the engine that drives expansion, but compliance with laws and regulations is what assures long-term viability. By ensuring that their pursuit of innovation does not eclipse the need for compliance, businesses have a responsibility to work towards striking a balance between these factors.
Unbeknownst, the falling Indian currency 78 INR mark rate against the US dollar for the first time helped Indian marketers, that is, somehow created a smooth way to one step ahead in achieving the fifth-largest economy in India.
As we know to excel in the business challenges, startups must take necessary actions in evolving tech, a shift in consumer preferences by adopting new product strategies, and frame objectives according to economic policies.
Some Indian unicorns overcame the following challenges as they introduced indulgent, efficient, and customer-centric products. In this regard, India ranks as the third largest unicorn-producing country in the world, with 106 unicorns competing against the USA and China.
Indian Cities With Their Unicorn Count: A Total of 106 Unicorns
According to IMF sources, India has surpassed the UK in the final three months of 2021 to become the world’s 5th largest economy, following the USA, China, Japan, and Germany in 2022.
Known for being the key pillar of the Indian economy, India’s startup ecosystem is a kick start to GDP growth, whereby the country achieved the milestone of 100 unicorns in May 2022.
The above graph shows the countries with the maximum number of unicorns (2022) as per the data shown by Google
Bangalore
We immediately conjure up an image of the country’s IT hub whenever we hear “Bangalore”, don’t we? Bangalore, as we all know, is a happening city in India with many tech-based companies and growing career opportunities. Bangalore is home to 43 unicorns out of 106 in India.
The city has a nurturing ecosystem that is known for its IT sector and ability to build top tech brands. By leveraging talented fellows, adopting cutting-edge technology, connecting with opulent inventors, and collaborating with multinational R&D centers.
Thereby, established top-most brands in achieving the $1 Billion mark within a short span and ultimately contributed 37% of unicorns of the nation in terms of leading sectors as Fintech 20% and SaaS 12% contribution of unicorns. Bangalore has earned the title of the top city in India for producing unicorns across industries like e-commerce, logistics, and ed-tech.
In no doubt, Mumbai has earned the deserving title of ‘the city of dreams, a place where many entrepreneurs have started their careers. As is the case, Mumbai is the richest city in the country with a homeland of 72 billionaires living and contributing $310 Billion toward the GDP of the country.
It accounts for more than 70% of unicorns in Delhi, as they are based in the Gurgaon region. The city has opened various portals for opportunities. Second-largest information technology hub and third-largest financial hub in India, Gurgaon is home to a slew of multinational corporations.
Since it houses top IT companies and fortune 500 companies, the city has been nicknamed ‘Cyber city’. With 13% of the total unicorn percentage in India, Gurgaon stands third in unicorn production.
Startup Name
Industry
Founding Year
Unicorn Entry Year
Oxyzo
Fintech
2016
2022
Mamaearth
E-commerce Personal Care
2016
2021
Spinny
Automotive
2015
2021
Mobikwik
Fintech
2009
2021
OfBusiness
Building Materials
2015
2021
Droom
Marketplace- Automotives
2014
2021
BlinKit
E-commerce- Groceries
2013
2021
Urban Company
Home Services
2014
2021
CARS24
B2C E-commerce
2015
2020
OYO
Hospitality
2013
2018
Rivigo
Logistics
2014
2019
PolicyBazaar
Insurance company
2008
2018
Zomato
Foodtech
2008
2015
Tata 1mg
HealthTech
2015
2022
MakeMyTrip
Online Travel
2000
2010
ReNew Power
Renewable Energy
2011
2017
Pristyn Care
Healthtech
2018
2021
New Delhi
New Delhi is not only the capital of India but lately, reformed into a new startup capital of India. Moreover, India will become the 3rd biggest economy in the world in 2022, and Delhi has become a hotspot for several startups and unicorns around India as well.
Gurgaon and Noida are the most prominent hotspots. Delhi is now home to 10 unicorns, with an estimation of roughly 1 billion dollars. And as of 2022, Delhi-NCR has a market worth 46 to 56 million dollars. Moreover, Delhi is reported to have the most Indian unicorns in a short span, and its startup ecosystem is growing exponentially.
Approximately 12,000 startups, 30 unicorns, and a cumulative valuation of about $150 billion could be based in Delhi-NCR by 2025, making it one of the top 5 global startup hubs. Delhi NCR contributes roughly 6.6% to the Indian unicorns.
Startup Name
Industry
Founding Year
Unicorn Entry Year
BharatPe
Fintech Payments
2018
2021
Delhivery
E-commerce Logistics Services
2011
2019
Lenskart
E-commerce- Eyewear
2010
2019
ShipRocket
eCommerce shipping
2017
2022
GlobalBees
E-commerce Retail
2021
2021
Pune
One fine feature in unicorns at Pune is women leading the start-up culture. Pune has 3200 Startups, on the other hand, Mumbai has 3274 Startups, which may compete against each other in the future in a healthy way.
Moreover, the Sci-Tech Park (established by the Ministry of Science and Technology, Government of India, and the University of Pune in 1986) alone has 153 startups.
As a result of Pune’s exceptional position to support start-ups and its proximity to industry, IT, and the best academic institutions, international collaboration among start-ups has increased over the past few years. Pune’s contribution to unicorns is approximately 5.7% as of a recent survey.
Startup Name
Industry
Founding Year
Unicorn Entry Year
ElasticRun
E-commerce Logistics
2015
2022
XpressBees Logistics
E-commerce Logistics
2015
2022
FirstCry
E-commerce
2010
2020
Icertis
Saas- Contract Management
2009
2019
Druva Software
Saas- Data Management
2008
2019
OneCard
Fintech
2018
2022
MindTickle
Saas- Enterprise Software
2011
2021
Chennai
Since Chennai city has failed to invest enough in startups in the last ten years, speed has finally picked up now, with a new administration in place. In a recent study, Tamil Nadu has a well-rounded business ecosystem spanning sectors, particularly in the industrialization sector.
However, compared to Bangalore, Mumbai, and Delhi, it still struggles to fit in. Moreover, several experts are believed to turn Chennai from Tamil Nadu into i-Tamil Nadu Technology, a hub for technology and a better startup ecosystem. Chennai as well pitches in 6.7% of the Indian unicorn sectors to the economy.
Startup Name
Industry
Founding Year
Unicorn Entry Year
Five Star Business Finance
Financial Services
1984
2021
Uniphore Software Systems
SaaS- Conversational Automation
2008
2022
CredAvenue/ Yubi
Fintech
2017
2022
ChargeBee
Financial Services
2011
2021
Freshworks
SaaS – CRM
2010
2018
The above graph shows the aggregate value of Indian Unicorns in Billion US Dollars as per the source Iron Pillar India Tech Trends Volume IV Report
Noida
In addition to Delhi, Noida has also bagged the title of a prosperous startup hub. The city is now a gateway for various global corporations. The city might be from Uttar Pradesh but emerged just like Delhi NCR when it comes to an industrial and manufacturing hub.
Noida has wide roads, and expressways in addition to greeneries, and for this reason, Noida is at present an up-and-coming city with an impressive startup ecosystem.
Moreover, it is near the Industrial Development Authority, Delhi, which makes good connectivity to the capital city, access to profitable talent, and cost-effective operations. Meanwhile, Noida extends 3.8% of the Indian unicorn sector’s income to the economy.
Startup Name
Industry
Founding Year
Unicorn Entry Year
Moglix
B2B E-commerce
2015
2021
PhysicsWallah
Edtech
2016
2022
Pine Labs
Fintech
1998
2020
Paytm
E-commerce Finance
2010
2015
Paytm Mall
E-commerce
2017
2018
Hyderabad
When there is a discussion about startup cities, Hyderabad also needs to be mentioned. Even though not many of the startups have turned into unicorns here, the number of budding startups here is quite high.
In the span of 3 years, from 2019 to 2021, approximately 933 startups were created here. It is not wrong to estimate that some of the smartest startups have been based in Hyderabad. And when it comes to unicorn startups, Hyderabad is home to 3 unicorns in India.
Startup Name
Industry
Founding Year
Unicorn Entry Year
Darwinbox
SaaS- HR
2015
2022
Highradius
Fintech
2006
2020
Zenoti
Saas- Spa and Salon Services
2010
2020
The above graph shows the percentage of Indian Unicorns based on the different geography as per Iron Pillar India Tech Trends Volume IV Report
Goa
Goa is highly acknowledged for its natural component. However, the government there is keen on making it a startup destination across India. Undoubtedly, Goa is home to many small and large startup businesses. Apart from that, Goa is also home to health based unicorn startup named Molbio Diagnostic.
Startup Name
Industry
Founding Year
Unicorn Entry Year
Molbio Diagnostic
HealthTech
2010
2022
Jaipur
The Pink city of India also provides a suitable culture for numerous startups to grow in it. The Ecosystem of Jaipur Startups is ranked at 7th position in India and 212th position globally. Jaipur is now home to one Indian Unicorn company and has many more coming in the future.
Startup Name
Industry
Founding Year
Unicorn Entry Year
CarDekho
E-commerce Automotives
2007
2021
Conclusion
On the whole, India has over 106 unicorns, all segregated in cities like Delhi, Bangalore, Chennai, Gurgaon, Noida, Hyderabad, Jaipur, Goa, and Mumbai. So far, India has globally earned recognition for its unicorns, and this may be one of the reasons why India is ranked third in the world economy.
FAQs
Which Indian state has the most unicorns?
Karnataka is home to the maximum number of unicorns.
Which city has the most unicorns?
Bengaluru has the most number of unicorns.
Which country has the most unicorns?
The United States has the highest number of unicorns in the world with a tally of 865 unicorns followed by China with an account of 224 unicorns.
Which is India’s 100th unicorn?
The 100th unicorn of India is a neo-banking platform named “Open”.
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 StudioBackdrops.com.
The Photography industry encompasses a range of photographic services, includingcommercial photography and portrait photography. Photography was once classified as a hobby profession only, but it has seen unprecedented growth in the last few years. The global photographic services market is expected to grow from $39 billion in 2021 to $43 billion in 2022. There are around 2 Lakhs of the photography business in the US, which generated $10.5 billion in revenue. Indian Photographers and cinematographers lack the availability of useful tools. StudioBackdrops.com is an eCommerce photography retailer that meets the demand for tools and techniques for passionate photographers.
Read to know about StudioBackdrops.com, its founder, the startup story, products, and business Model.
StudioBackdrops.com is a D2C platform that provides curated and affordable photography and video equipment to photographers, cinematographers, content creators and production houses in India.
Their short term vision is to gather the most unique and niche photography and videography products from all over the world and make them available on its platform. They also want to create awareness about these products and educate their audience about the best way to use them.
Their long term vision is to become the biggest platform for Photography, Video and Audio solutions in Asia. They also want to be able to offer products from every possible vertical in the Imaging Industry to their rapidly growing audience. This would enable creators to buy everything they need to set up their studios directly from one place without having to jump from one marketplace or store to another.
StudioBackdrops.com was founded with the goal of giving the community of creators and creative professionals access to better tools and equipment at affordable prices. At the same time they want to create a community of creators involved with helping each other create the best content with the equipment they have. And to educate them about new types of equipment and how those can take their work to the next level and compete with the best of the best. They aim to do to the imaging market in India what Nykaa did to the beauty and personal care market.
StudioBackdrops.com – Industry
StudioBackdrops.com belongs firmly in the Consumer Electronics industry as a retailer of Photography, Videography and Audio industry related products.
The global audio and video equipment market size is expected to grow from $149.00 billion in 2021 to $158.81 billion in 2022 at a compound annual growth rate (CAGR) of 6.6%. The audio and video market is expected to reach $196.50 billion in 2026 at a CAGR of 5.5%. The Asia-Pacific Region accounts for almost 30% of this business. In this region China and India generate the most business with 900 Million + and 600 Million + active internet users.
With the Indian creator economy growing at an exponential rate, they envision StudioBackdrops.com as the ultimate support system of these creators. Already some of the biggest creators in India swear by equipment from StudioBackdrops.com. As the number of creators and influencers grow, they will always be right alongside them offering them the exact products and equipment they need to keep their content looking fresh and at par with International standards.
StudioBackdrops.com – Founders and Team
Archisman Misra is the Founder & CEO of StudioBackdrops.com. He did his schooling at K.R.Mangalam, New Delhi followed by a B.Tech in Computer Science. After his bachelor’s he chose to follow his childhood dream of photography and established himself as a commercial photographer working for some of the biggest brands and agencies.
StudioBackdrops.com – The Idea and Startup Story
Archisman Misra had been passionate about photography ever since he was a kid. During my school and college years, he had a yearning to learn more about photography and he went to the best learning resource on the Internet – YouTube. He wanted to increase and improve his portfolio so he started looking for tools that the photography educators on Youtube were using. Many of these tools were not available in the Indian market, and the some that he did find were incredibly out of budget. While working as a professional photographer, he talked to other photographers around him and they were facing the same dilemna. This led to the birth of the idea to create a platform to provide good quality and yet affordable products to photographers, cinematographers, and other creators.
As with all his ideas, his first sounding board was my parents. He have always dreamed big and has a tendency to get ahead of himself. His parents know this and always counter his ideas with questions. When he had provided valid answers for all their questions, they gave him their blessings, hence validating his idea.
He started listing down the verticals he would start with and studio backdrops came across as an obvious choice. He started talking with local manufacturers and international brands who were experts in backdrops and at the same time christened the company as StudioBackdrops.com. He also decided to bootstrap the startup with his own savings instead of looking for investors. The journey of ideation, designing and prototyping the idea was something that he went at solo, both to save costs and because he had experience of wearing many different hats throughout the years.
In October 2016 StudioBackdrops.com went live on Amazon shortly followed by their own website StudioBackdrops.com.
StudioBackdrops.com – Products
StudioBackdrops.com Photography
StudioBackdrops.com is primarily a curated D2C platform selling niche products to the Photography and Video industry. These niche products had not been introduced to the Indian market but yet were often vital to creative processes and studios. Since starting with Backdrops as their primary focus, they kept innovating, improving, and increasing the worldwide standards of the product. I am proud to say that StudioBackdrops.com is home to the largest collection of Backdrops in the world.
StudioBackdrops.com initially started as a marketplace model of eCommerce where brands and distributors could sell their products. This was the time Amazon and Flipkart were surging in popularity and he quickly realised it would be impossible to compete with them. He immediately pivoted to an inventory model of eCommerce and started reaching out to Manufacturers and Brands and became an importer and distributor for these brands in India.
StudioBackdrops.com – Business Model and Revenue Model
StudioBackdrops.com works on an omnichannel model of Business. The website directly engages with the D2C channels whereas the business development teams handle the B2C and B2B2C channels. StudioBackdrops.com works on an inventory model of eCommerce and hence is a direct distributor of multiple brands across India and is responsible for their marketing and advertising efforts.
StudioBackdrops.com – Customer Acquisition
The first platform for the launch was Amazon, quickly followed by the D2C website. They quickly understood that social media and a great customer experience would be the biggest tools to help us acquire more and more customers. This essentially became a big part of their strategy and they mainly depended on word of mouth promotion to acquire their first 100 users. Their customers loved the products they had on offer and became vocal advocates for the brand and quality.
StudioBackdrops.com – Marketing
StudioBackdrops.com has followed a very unorthodox route when it comes to marketing. It was decided pretty early on by Archisman that SBDC would be completely bootstrapped and this meant that he needed to achieve a lot of results with the lowest spend. He brought in all the experience he had gathered over the years, shooting campaigns for brands, and being actively involved in marketing them. He was quick to realise that no amount of marketing and ad campaigns could replace solid brand awareness and customer trust. To date, a lot of their marketing still revolves around creating brand and product awareness and helping customers make knowledgeable buying decisions. This builds trust and in turn, they recommend SBDC to their closely-knit community of creators, slowly and steadily building their user base and increasing the demand for the products they have on offer.
When the country was brought to a standstill due to the pandemic, SBDC was stuck in limbo without a working supply chain and logistics partner. But during the lockdown a completely new opportunity presented itself. The lockdown made stars out of struggling content creators and brought many new ones to the centre stage. The collective creativity of the country was growing and SBDC wanted to help them unleash it.
As soon as the lockdown eased, they jumpstarted their supply chain, onboarded more logistics partners, and started shipping to 22000 pin codes across India. Their sales saw the largest ever boost once the lockdown was opened, as everyone was shifting to creating content from home. This trend has continued and StudioBackdrops.com has become the destination for content creators looking to add production value to their content and to compete with the best of the best.
StudioBackdrops.com – Funding
StudioBackdrops.com remains completely bootstrapped and has not raised any funds to date.
StudioBackdrops.com – Recognition and Achievements
StudioBackdrops.com was recently named as one of the top 500 Challenger D2C Brands from India by Yourstory as a part of their Brands of New India Initiative.
StudioBackdrops.com – Future Plans
StudioBackdrops.com intends to bring to market a whole host of niche and unique products along with popular offerings across multiple verticals. This is in line with SBDC’s goal to become the largest omnichannel destination for photo, video, and audio in Asia. Along with products, StudioBackdrops.com intends to release a wide range of educational content aimed at Content Creators, Youtubers, Photographers, Cinematographers and more. They are also planning to launch an Incubator Program to support content creators directly. The program will provide content creators with the products they need and professional advice from industry leaders to improve their content.
FAQs
When was StudioBackdrops.com founded?
StudioBackdrops.com was founded in 2016 in New Delhi.
Who is the founder of StudioBackdrops.com?
Archisman Misra is the founder of StudioBackdrops.com.
Is StudioBackdrops.com funded?
No, StudioBackdrops.com is a bootstrapped startup.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved byARATA.
People around the globe are switching to chemical-free & non-toxic personal care products. The new trends in personal care brands show that over 40% of consumers are inclined to the products and brands that fit into their healthy lifestyle and contain wellness benefits without any chemicals.
ARATA is an honest personal care brand that offers chemical-free, plant-based skincare products for healthy skin and hair. Read to know about its founder, products, and the startup story of ARATA.
ARATA is a personal care startup that offers trustworthy and credible skin care and hair care products. The vision and mission of the Company are to make clean labels, high-performing, safe, and effective hair care solutions. Arata is an environment-friendly startup that uses not only non-toxic ingredients, for their products but its packaging is also 100% recyclable.
ARATA – Industry
The market and industry size is about INR 25,000 crores, which is a total addressable opportunity for hair care.
ARATA – Founders
The founders of Arata are Dhruv Madhok & Dhruv Bhasin.
Dhruv Madhok
Dhruv Madhok – Co-founder of ARATA
He has completed his graduation from the University of Southern California – Marshall School of Business. Earlier he has worked with KPMG and PVR limited. He is the Director of ARATA.
Dhruv Bhasin
Dhruv Bhasin – Co-founder of ARATA
Dhruv Bhasin completed his Master’s in Management from the University of Surrey, and B.Sc in Business Studies from Lancaster University.
ARATA – The Idea and Startup Story
The idea for starting up came when (Dhruv) Bhasin’s mother was boiling flaxseeds to make a natural hair gel for him to use. He sent Dhruv Madhok a sample, and he loved it. And that’s how they realized there is an opportunity for safe styling products. They also discovered that the opportunity is significantly larger, not only limited to styling but in general hair care and other categories.
Arata products belong in the beauty, personal care or FMCG CPG, and consumer packaged categories.
ARATA – Name, Tagline, and Logo
ARATA Logo
ARATA means fresh and new in Japanese. The founders thought this was very apt for their brand personality.
ARATA – Products
ARATA Products
The innovation and USPs are that the products are plant-based, non-toxic, vegan, cruelty-free, naturally derived, sustainable and inclusive, with a premium choice of ingredients and fragrances, product packaging, branding and design.
ARATA – Business Model
The business model is essentially selling the products online to the customer, directly to the consumers, on its website, and through different marketplaces.
ARATA – Customer Acquisition
The first hundred customers were all acquired from Google, Facebook, Instagram, and through advertising. And then, they scaled up through different marketplaces and through multiple online and digital campaigns.
The most important thing that has worked for them to attract and retain customers is focusing on niches and having a set target audience and not being all over the place in terms of the product offering.
The biggest challenges they face can be divided into two parts.
One challenge was raising capital during the pandemic as it was very hard.
And two, essentially trying to break through the clutter of being a digital-only brand.
So the challenge was how to look beyond performance marketing?
And now, they are doing that by creating engaging content, having an engaging social channel, and focusing on customer retention, CRM, content creation and the likes.
ARATA – Most Successful Marketing Campaign
The most successful marketing campaign till now has been the launch of the Arata Advanced Curl Care range with Taapsee Pannu.
ARATA Marketing Campaign with Tapsee Pannu
ARATA – Growth
ARATA revenue exceeds INR 2.5 crores per month. Its estimated annual revenue is INR 30 crores.
And the repeats are looking strong, with more than 50% of customers coming back every year to buy for the second time and more.
ARATA – Funding
They have received multiple rounds of funding. They received funding of INR3.5 crores in December, 2018. They raised INR 7 crores in 2021.
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 GlobalBees.
The modern industries of the world are transforming each day with the addition of new companies or startups and their disruptive ideas. Though the increasing competition is certainly bringing forth the best products at equally appreciable rates for the customers of now, it is excessively detrimental for the companies, especially startups to hold on to the fast-paced environment and cement their position in their respective spaces. Thus, many startups often lose control and end up being forgotten. Experience is what most of them lack most often and here’s why nowadays we find companies and veterans teaming up to upscale the startups.
It was Thrasio Holdings, Inc., which had made this idea possible in the US, scaling over 150 brands to date. This Thrasio-style has become really popular indeed ever since Thrasio began to be a huge success. GlobalBees is one such company that believes in the upscaling of other companies in India and is making it possible in India.
GlobalBees invests in a wide range of companies across domains like e-commerce, consumer technology, marketing and operations, and more, with a special focus on the sellers of the popular eCommerce platforms like Amazon and Flipkart to improve their sales and help them grow. The company is a Thrasio venture-style arm of FirstCry is already a unicorn in less than 8 months of operation!
If you want to know more about GlobalBees, its Business Model, Revenue Model, Funding and Investors, Startup Story, Acquisitions, Challenges, Competitors, and more, then read ahead.
GlobalBees is a startup that focuses on identifying and scaling amazing products. Since it was founded in 2021, GlobalBees has created a varied portfolio of firms in sectors including beauty, home care, personal care, nutrition and wellness, fashion jewellery, and eyewear.
Globalbees Brands Private Limited is a Non-Government Company that is listed in the company class. This company is registered with the Registrar of Companies (ROC) in Delhi with a paid-up capital of Rs. 7 lakh and authorized share capital of Rs. 7 lakh.
The startup purchases up-and-coming companies across niches. It aims to upscale merchants from an array of sectors such as fashion, home and kitchen, electronics, cosmetics, personal care, sports, and others. Globalbees works with entrepreneurs that have developed an internet-based business. The company’s staff grows direct-to-consumer (D2C) enterprises in India and beyond. Companies that have produced goods based on unique customer intelligence are favoured by the company.
GlobalBees assists businesses with scaling and revenue development once they have been acquired by the company. The New Delhi-based unicorn works with the merchants, especially with those who are on the e-commerce platforms like Flipkart and Amazon, the business uses smart marketing methods and other technologies to help these firms flourish. Not only that, but the corporation also starts the worldwide operations of these brands.
GlobalBees founder Nitin Agarwal stated in an interview that the company has already cooperated with 12+ digital businesses. These companies are selling their goods and services in domestic and international markets.
How GlobalBees Acquires Digital Brands?
GlobalBees works in a step-by-step way to acquire or collaborate with the brands. The GlobalBees team begins by gathering knowledge about the digital brand that it will purchase. The startup does this by looking at the revenue numbers and the items that the brand sells. For long-term success, the firm also learns how to establish a brand relationship with customers.
Following the completion of the first stage, the GlobalBees team prepares a contractual agreement with the founders, outlining all payout terms and circumstances.
Next, GlobalBees brings in its expertise and cutting-edge tools and technologies to expand the acquired brands. GlobalBees has a team of professionals who work directly with digital companies to help them flourish.
By acquiring more than 10 companies and becoming a unicorn in such a short span of time, GlobalBees has caused quite a stir in the Indian startup environment.
GlobalBees – Industry
The Thrasio model, pioneered by the US-based Thrasio Holdings has been insanely popular around the world and in India too following the brand’s success, which recently boasted of having a portfolio of over 100 brands and picking up a profit of $100 million on revenue of $500 million. The business model that replicates Thrasio was not quite explored before the Indian startups like Mensa Brands, 10Club, GOAT Brand Labs and GlobalBees started to foray into the same.
It was Amazon, which alone revealed in 2020 that as many as 4,152 sellers on its Indian marketplace have managed to cross Rs 1 crore in sales, which increased by 29% from the figures revealed in the previous year. This indicates the untapped opportunity in this space. The Indian brands like Upscalio, Evenflow, Powerhouse91, and the ones mentioned above have already started to take the pace and have together raised over $300 million so far.
GlobalBees – Name, Logo, and Tagline
GlobalBees assists emerging businesses in scaling and selling to marketplaces and other outlets in India and beyond the South Asian market, hence the name “Global-Bees”.
GlobalBees is founded by Deepak Khetan, Supam Maheshwari, and Nitin Agarwal in 2021.
Deepak Khetan
GlobalBees’ Chief Financial Officer (CFO) and Head of Corporate Development, Deepak Khetan is an alumnus of the Institute of Chartered Accountants of India, who also attained the CFA Institute and GARP, USA. Deepak is an experienced financial executive with over 18 years of experience in advising, credit, strategy, and accounting activities, and backed strong academic qualifications.
He has vast experience in mergers and acquisitions, strategic advising, capital raising, and restructuring transactions, as well as cross-border circumstances. Khetan has previously served as a Manager and Chief Manager at ICICI Bank; Group EVP – Investment Banking at YES Bank; Chief Strategy Officer at Smaaash Entertainment and as the CFO and SVP at Edelweiss Financial Services before co-founding GlobalBees.
Deepak Khetan, GlobalBees Founder
Supam Maheshwari
The CEO and Co-founder of FirstCry, Supam Maheshwari is a Co-founder of GlobalBees. A Mechanical engineer from the Delhi College of Engineering and an alumnus of IIM Ahmedabad, Supam had earlier co-founded Firstcry and Brainvisa Technologies.
Supam Maheshwari, GlobalBees Founder
Nitin Agarwal
GlobalBees’ Chief Executive Officer (CEO) is Nitin Agarwal. Nitin Agarwal obtained his Btech degree from IIT Delhi and has worked in a series of companies including Citibank, where he served as an Assistant Manager; Equirus Capital, where he served as the Director; Incred, where he was the Chief Operations Officer; Wecash, where he was the Chief Operating Officer and Edelweiss, where Agarwal served as the President and Group CIO, CTO and Chief Digital Officer. Nitin also co-founded Brainvisa, Bigshoebazaar India Pvt Ltd, and GlobalBees till now in his entrepreneurial career.
Nitin Agarwal, GlobalBees Founder-CEO
GlobalBees has an employee strength of 100+ employees.
GlobalBees’ mission statement says, “Investing in and nurturing brands to provide joyful product experiences to the world.”
According to the company, its growth drivers are:-
Innovation – The demands of customers are always changing. It seeks out novel solutions to meet the demands of customers and improve all parts of the customer experience.
Inspiration – The company is inspired by others. The team continually listens to our customers and is ever-changing to meet their needs. This enables them to develop amazing things even under the most difficult of circumstances.
Impact – Products can have a beneficial influence on people’s lives. The team collaborates with entrepreneurs to develop goods that serve both customers and society.
The Thrasio-style business model is a relatively new concept in India, but it has garnered positive feedback from the country’s startup community.
GlobalBees acquires and works with innovative digital companies working in areas such as grooming, personal care, home care and kitchen, food and nutrition, and sports and leisure. The New Delhi-based startup then assists these businesses in scaling and selling to marketplaces (such as Amazon and Flipkart) as well as other channels in India and beyond. GlobalBees has already purchased or collaborated with nearly a dozen businesses that they are selling both in India and beyond.
“We have created and engaged with brands in the past and realized that most of these brands reach a scale after which it becomes too difficult to scale them,” Agarwal said. “Supam and I have been talking about this for several years, trying to find ways to disrupt this market. We think there’s an opportunity to create a new house of brands that is digital-native.”
GlobalBees, according to Agarwal, will try to construct a distribution and enterprise ecosystem in the internet realm in the same way that conventional enterprises have done so in the offline world. GlobalBees plans to invest in roughly 30-35 companies spanning from various D2C categories to fast-moving consumer goods (FMCG) and more, following the strategy popularised by US-based Thrasio.
“Not all brands GlobalBees engages with will get acquired on day one”, Agarwal said.
GlobalBees isn’t the first company in India to use the Thrasio concept. Other well-known firms that have used the Thrasio strategy to acquire digital brands include Powerhouse91, Mensa Brands, 10club, and UpScale.
GlobalBees – Funding and Investors
GlobalBees has raised $301.8 million over five rounds of funding.
Date
Round
Amount
Lead Investors
Feb 6, 2024
Debt Financing
$18M
Avendus Capital
Dec 28, 2021
Debt Financing
$30M
Trifecta Capital Advisors
Dec 28, 2021
Series B
$110M
Premji Invest
Jul 18, 2021
Series A
$75.88M
FirstCry
Jul 18, 2021
Debt Financing
$75.88M
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GlobalBees – Investments
GlobalBees had invested in one company on April 23, 2022, which was its maiden investment worth April 23, 2022, until it invested again in 5 companies, as of June 13, 2022 reports. The FirstCry arm has invested recently in HealthVit and Top Gummy, nutrition brands. Furthermore, it also invested in personal care brands UrbanGabru and Urban Yog, followed by another investment in a lifestyle brand named Kuber Industries. Though the funding rounds and the investment amounts have not yet been confirmed, reports mentioned that the company has invested up to Rs 50 crore in each of the brands.
Date
Name of the Company
Funding Round
Deal Value
Lead Investor
June 13, 2022
Kuber Industries
–
–
June 13, 2022
Urban Yog
–
–
June 13, 2022
UrbanGabru
–
June 13, 2022
Top Gummy
–
–
June 13, 2022
HealthVit
–
–
April 23, 2022
Candes
Corporate Round
$3.2 mn
Yes
GlobalBees – Acquisitions
GlobalBees last acquired Reach on February 9, 2022, which is a sports equipment brand. Reach is the 2nd brand in the sports and fitness that the Thrasi-styled brand acquired.
Among its other investments, GlobalBees had invested in had acquired a controlling share in Healthyhey (a dietary supplement company), Rey Naturals (a hair care product company), and Intellilens (an eyeglass company) in November 2021. It also invested in Yellow Chimes, a prominent fashion jewellery brand, and Absorbia, an innovative home care brand to possess majority stakes in them, which were added to GlobalBees’ portfolio in the same month.
Prolixr, a local millennial skincare business, &ME, and The Better Home, a women’s health solutions firm are some other brands that have been earlier acquired by GlobalBees, all of which are covered in the “Acquisitions” section below.
GlobalBees plans to invest in roughly 30-35 companies spanning from various D2C categories to fast-moving consumer goods (FMCG) and more, following the strategy popularised by US-based Thrasio. The organization is excited about the prospect of purchasing and combining companies, as well as assisting them in scaling and transforming their digital presence. Within this financial year, GlobalBees plans to invest in over 20 brands.
GlobalBees acquired 11 brands to date. Here’s a list of its acquisitions below:
Date
Acquiree Name
About Acquiree
Amount
February 9, 2022
Reach
Fitness equipment company from Gurgaon, which rents out equipment and promotes fitness
–
Jan 11, 2021
The Butternut Company
Healthy snack food brand
–
Jan 11, 2021
Mush
Premium brand that is aimed to design and develop high-quality bamboo textile products
–
Jan 11, 2021
Strauss
Premium quality gym and fitness equipment company
Nov 23, 2021
Rey Naturals
Therapeutic Grade essential oils.
–
Nov 23, 2021
HealthyHey
The company create nutritional and health products for overall fitness and well-being.
–
Nov 2, 2021
Yellow Chimes
Yellow Chimes is a fashion jewellery brand.
–
Nov 2, 2021
Absorbia
Absorbia is an innovative product that keeps your belongings damp-free.
–
Oct 25, 2021
Prolixr
Prolixr embodies the perfect balance of formula savvy and playfulness to inspire a love for skincare.
–
Oct 4, 2021
&ME
&Me is a lifestyle nutrition brand creating bioactive beverages for women.
–
Aug 31, 2021
The Better Home
The Better Home is a home care products company, as it builds its portfolio of digital-first brands and helps them scale.
–
GlobalBees – Growth
As the need for online D2C brands grows, GlobalBees is taking up the challenge pretty well. It has been the second Thrasio-style firm to become a unicorn in 2021, following Mensa Brands.
In just seven months, GlobalBees built a wide portfolio of firms in sectors such as home care, beauty, and personal care, nutrition and wellness, fashion jewellery, and eyewear. Over the next three years, GlobalBees expects to invest in over 100 brands across sectors, including fast-moving consumer goods (FMCG), sports, home organization, and leisure.
GlobalBees boasts of a presence across 600+ cities. The company has hit a monthly revenue of Rs 1 crore in October 2020, within just nine months after launch.
The firm, which has offices in Delhi and Bangalore, has established assets and skills in marketing, technology, supply chain and logistics, product innovation, and other areas.
GlobalBees – Competitors
The market for Thrasio-style startups has grown rapidly and GlobalBees has also picked up numerous competitors like:
The funding that the company received will be used to expand the firm’s product range and accelerate the innovation process, customer experience, talent recruiting, and corporate growth, according to the founder of the company.
Globalbees has grown to over 100 members. In addition, the firm is in advanced conversations with over 20 organizations to expand its digital-first brand portfolio.
Speaking on the development, Nitin Agarwal, GlobalBees CEO said, “We have a deep purpose to build meaningful products across industries that address unique consumer needs. With this investment, we are well setup to become India’s largest brand platform. We are an august company of exceptional founders who have built great companies online. With this infusion of capital, we can work together to take these companies global.”
The company aims to reach $1 billion in revenue by 2026 and turn into a profitable startup.
FAQs
What does GlobalBees do?
GlobalBees invests in potential merchants on e-commerce platforms like Flipkart, Amazon, and Myntra, and works with their founders to improve their sales. These businesses can help businesses separate from the crowd of e-tailers by providing marketing skills.
Who founded GlobalBees?
GlobalBees is founded by Deepak Khetan, Supam Maheshwari, and Nitin Agarwal.
When was GlobalBees founded?
GlobalBees was founded in May 2021.
Which companies do GlobalBees compete with?
10.Club, Mensa Brands, GOAT Brand Labs, Upscalio, Recommend.my, Bellhops, Venn, Mensa, Peopletail, and Key Reception are some of GlobalBees’ major rivals.
How are GlobalBees and FirstCry related?
GlobalBees is often referred to as a Thrasio venture-style arm of FirstCry, which it is.
Nitin Konde
