StartupTalky

Tag: Recap23

  • Beautywise: Unveils Growth Strategies and Forecasts the Future Landscape of the Beauty Industry

    StartupTalky presents Recap’23, a series of in-depth interviews where we engage with founders and industry leaders to explore their growth in 2023 and their predictions for the future.

    Beautywise® is a new-age, aspirational, and innovative brand, known for its range of premium supplements catering to a sophisticated clientele that prioritizes beauty and self-care backed by science.

    The Beauty & Personal Care market in India is projected to generate a revenue of US$31.51bn in 2024. This market is expected to witness an annual growth rate of 3.00% (CAGR 2024-2028).

    In a recent Recap’23 interview, we at StartupTalky had the privilege of connecting with Shreyansha Chauhan and Anousha Chauhan, Founders of Beautywise. We examined how Beautywise is making a mark for itself within the Beauty industry, analyzing its strategies, unique positioning and future plans.

    StartupTalky: What products does Beautywise sell? What was the motivation/vision with which you started?

    Shreyansh: We specialise in advanced dermatology-led supplements, specifically designed to address targeted skin and hair concerns that Anousha, our founder faced firsthand in her decade-long modeling career.

    Our growing product portfolio currently comprises Skin Brilliance 500mg Glutathione in EPO which is developed with antioxidants, vitamins, amino acids, and active extracts in a nourishing oil, this formulation is designed to impart radiant and uniformly toned skin, Skin Resilience Ceramides & HA in Omega-3, a powerhouse supplement that combines the natural lipids of ceramides with the hydrating prowess of Hyaluronic acid and Hair Rescue Keratin & Biotin in Avocado Oil, a transformative supplement that combines the strengthening effects of Keratin and Biotin with the nourishing properties of Avocado Oil. We also specialize in marine and plant-based collagen, in multiple options.

    Our vision on pioneering dermatology-driven solutions for tailored skincare and haircare needs. We aim to offer efficient solutions that work from the inside out to offer the best in beauty and wellness.

    StartupTalky: What other Beautywise products/features have been added in the past year? What is/are the USP/s of Beautywise?

    Anousha: The past year has been focused on improving product formulations, as well as working on a stronger retail footprint overall for the brand. In terms of additions of features, we have launched dual-action technology capsules that combine oil and water-soluble ingredients for enhanced absorption of our formulations. The USP of our products lies in the efficacy of the formulations and in addressing specific skin and hair care concerns. Notable USPs of our products are the clinically researched clean ingredients, as well as the ‘proven efficacy V-FillTM technology’. This has led to our products being prescribed by over 500 dermatologists and skincare experts.

    StartupTalky: How has the beauty industry changed in recent years, and how has Beautywise adapted to these changes?

    Shreyansh: The beauty industry overall has witnessed great technological advancement over the past few years. There is a nutraceutical boom in India driven by higher consumption post-COVID as well as better market access driven by e-commerce. This has led to a large number of companies entering the supplement space. Unfortunately, the issues of low bioavailability, inaccurate dosage, and greenwashing which unfortunately has not been addressed by the industry. We are driven by innovation and clinical literature backing our formulations to provide targeted beauty supplements.  To date, the regulations for supplementation were at a very nascent stage, leading to a loss of credibility for the industry. However, the government has started focusing on nutraceuticals and we accept and welcome stricter approaches towards claims and quality.

    Anousha: One of the most critical ways we have stayed ahead of the industry trend is an uncompromising approach to our product portfolio. We have integrated dermatologists and specialists at every stage of our research and development. This comprehensive approach ensures our supplements effectively address specific concerns like pigmentation, premature aging, sun damage, and skin saginess. Our commitment to developing clinically backed products with top-grade ingredients has garnered trust across the industry. We proudly hold exclusive partnerships with some of India’s largest aesthetic skin clinics and well-established pharmacies pan India.

    StartupTalky: What key metrics do you track to check the growth and performance of Beautywise?

    Shreyansh: Apart from standard sales and e-commerce metrics, we focus on the Customer Lifecycle Value and Net Promoter Score of dermatologists, reflecting their likelihood to recommend Beautywise. We have a remarkable 80%+ NPS.

    StartupTalky: What were the most significant challenges Beautywise faced in the past year and how did you overcome them?

    Anousha: The industry has intense competition with multiple players. Also, our reliance on a few select retail partners added pressure to our margins. We mitigated this by bolstering our e-commerce presence, contributing 30% of revenue in just one year while maintaining strong retail relationships. This omni-channel approach has benefitted the brand immensely.

    StartupTalky: Repeat purchase is one of the most important parameters on which most eCommerce brands are betting. How do you keep your customers engaged to stop churn?

    Shreyansh: We believe repeat purchases are primarily driven by the overall experience and benefits a consumer derives from the product. By focusing on the highest efficacy and potency in our capsules, and the overall experience of taste, smell, and dissolvability in our powders we can provide an unparalleled experience. We do have subscription discounts, 2nd-time purchase coupons, and other initiatives, but the product efficacy is what drives repeat purchases which are 30% +.

    StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack that you pulled off.

    Anousha: Effective marketing is fuelled by a pull approach, emphasizing the importance of cultivating enduring customer relationships. We don’t believe in hacks; instead, we prioritize delivering on promises for sustained organic growth. Delivering on the claims goes a long way to ensure organic, word-of-mouth growth.  Our GTM of being retail and dermatology clinics first has also helped us massively in developing trust and credibility with our consumers.

    StartupTalky: What are the important tools and software you use to run Beautywise smoothly?

    Shreyansh: We have been utilizing tools to streamline processes, we have been able to use Businessonbot to ensure smooth customer communication, accelerating retention while Unicommerce to aid inventory management, addressing aging inventory, and enhancing operational efficiency.

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    StartupTalky: What opportunities do you see for future growth in the beauty industry in India and the world?

    Anousha: India is already the pharmaceutical factory of the world, and the abundance and diversity of plants and active ingredients also play an important role in sourcing quality ingredients. We foresee India replicating what we did in pharmaceuticals in nutraceuticals as well if we as a nation focus on quality and compliance.

    Different states have different mindsets and climatic conditions. There is also a cultural aspect of the food consumed. All these play an important role. Eg. sunny states require more protection against sun damage and Skin Brilliance is a best seller. In metros with heavy environmental pollution Skin Resilience which protects the outer skin barrier becomes an exceptional supplement. Fish has high acceptability in East India where we see disproportionate sales of marine collagen, while in Northern states vegan collagen builder sells more.

    Given the multiple environmental stressors as well as an increased interest in beauty overall in the consumer mindset, we believe that the nutraceutical industry has high growth potential.

    StartupTalky: What lessons did your team learn in the past year and how will these inform your future plans and strategies?

    Shreyansh: “Continuous learning shapes our strategy. Recognizing that every stakeholder consumers employees, resellers and the company should derive value. we aim for sustainable growth, avoiding a zero-sum game mentality”. The consumer and industry response has given us greater confidence in the market and we intend to be more aggressive with our retail and marketing performance.

    StartupTalky: How do you plan to expand the Customers, SKUs, and team base in the future?

    Anousha: We see a huge gap in supplements that can be trusted by skin care professionals such as dermatologists, nutritionists, and beauticians. We have formulated products with their inputs and will continue to have a roadmap of products following the same process. Our product portfolio has been built on consistent and genuine consumer feedback. We intend to create a loyal and credible consumer base of Beautywise customers.

    StartupTalky: With so much hype around D2C brands spending on ads, what will be your growth strategy organic or inorganic? How do you plan to work around SEO and content marketing?

    Shreyansh: We believe in building good products, which will be accepted on their merit. Word of mouth and peer-to-peer recommendation are the best form of marketing. We have maintained a 2X ROAS on Amazon and other platforms, and even Google ads have a positive ROI. D2C brands need to set aside some amount of funds to generate awareness but conversions are an outcome of having differentiated, credible products in our portfolio.

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    StartupTalky: One tip that you would like to share with another D2C founder, based on your own experience?

    Anousha and Shreyansh: Function with conviction, focus on the long term and build a company designed to outlast its founders—an invaluable tip for fellow D2C founders.

    StartupTalky extends its gratitude to Mr. Shreyansha Chauhan and Ms. Anousha Chauhan for dedicating their valuable time and generously sharing their insights with all of us.

    Explore more Recap’23 Interviews here

  • Dextrus CEO – Robin Chhabra Shares Insights on the Co-Working Industry’s Evolution

    StartupTalky presents Recap’23, a series of in-depth interviews where we engage with founders and industry leaders to explore their growth in 2023 and their predictions for the future.

    The co-working industry, a dynamic and transformative sector in the realm of modern workspace solutions, has witnessed remarkable growth in recent years.

    The coworking space market size has grown rapidly in recent years. It will grow from $19.05 billion in 2023 to $22.44 billion in 2024 at a compound annual growth rate (CAGR) of 17.8%.

    The coworking space market size is expected to see rapid growth in the next few years. It will grow to $40.4 billion in 2028 at a compound annual growth rate (CAGR) of 15.8%. The growth in the forecast period can be attributed to hybrid work culture, global expansion, workforce mobility and remote

    In a recent Recap’23 interview, we at StartupTalky had the privilege of connecting with Robin Chhabra, CEO & Founder of Dextrus. We explored how the Co-working space industry is revolutionizing the transformative sector in the realm of modern workspace solutions.

    StartupTalky: What service does Dextrus provide? What was the motivation/vision with which you started?

    Robin Chhabra: Dextrus offers office spaces as a service. We design, build and operate premium office spaces for our clients. Our vision has been to bring a high level of design thinking to office space requirements as it is an ever-changing landscape where flexibility and quality are key.

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    StartupTalky: What new services have been added in the past year? What is/are the USP/s of Dextrus?

    Robin Chhabra: We have expanded to give enterprise office space where we design and custom-build office spaces curated to the minutest details for our clients. 

    StartupTalky: How has the Co-working space you are in changed in recent years and how has Dextrus adapted to these changes?

    Robin Chhabra: COVID caused most companies to look at our model more carefully and see resonance in our offerings. Client requirements change over time as they grow and need flexible office solutions. They also don’t wish to have the headache of overseeing these needs as it distracts from core functions. Our prowess in design and high service quality has helped address both those needs. 

    StartupTalky: How do you stay up-to-date on the latest trends and developments in Co-working space industry?

    Robin Chhabra: We keep pushing the boundaries of design and service quality as we want to be the best in the business and hence focus mostly on that. 

    StartupTalky: What key metrics do you track to check the company’s growth and performance?

    Robin Chhabra: Occupancy levels to be maintained at high levels, customer satisfaction, and good seat pricing to ensure profitability.

    StartupTalky: What were the most significant challenges Dextrus faced in the past year and how did you overcome them?

    Robin Chhabra: Hiring is our most significant challenge as we grow. Good talent who can be intrapreneurial. We focus internally on our team members via flexible policies as well, as we hope that will spread the word that we are a good company to work for. 

    StartupTalky: Good service is something everyone is talking about in the service industry. How do you ensure that Dextrus clients are happy?

    Robin Chhabra: Feedback is important and learning from that feedback is as important. 

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    StartupTalky: What are the different strategies Dextrus use for marketing? Tell us about any growth hack that you pulled off.

    Robin Chhabra: Quality, Quality, Quality is the only focus. Word spreads and that brings the clients. 

    StartupTalky: Foreign clients- this is what most of the service-based companies are looking for. What has been your experience?

    Robin Chhabra: We look for companies that are well established, they can be foreign or domestic. Foreign companies understand what our model can offer and come with experience using it abroad hence easier to close deals though Indian companies are fast catching up post covid.

    StartupTalky: What are the important tools and software you use to run the Dextrus business smoothly?

    Robin Chhabra: We use Google Suite, Asana for task management, and Slack for internal communications. All of these talk to each other. We have also built applications using a Google platform to help operate more efficiently. We use Tally and Zoho Books as well for accounting-related matters.

    StartupTalky: What opportunities do you see for future growth in Co-working space industry in India and the world? What kind of difference in market behaviour have you seen between India and the world?

    Robin Chhabra: Enterprise workspaces have seen great demand in India, more than in the rest of the world. Growth looks upwards with coworking spaces will comprise of 10% of grade A office space in the country soon.

    StartupTalky: How do you plan to expand the Customers, service offering, and team base in the future?

    Robin Chhabra: We continue to expand in Mumbai, once we achieve a comfortable size we shall turn to the other major cities. 

    StartupTalky: One tip that you would like to share with another Service company founder?

    Robin Chhabra: Keep learning from your mistakes and keep making service excellence the focus. 

    Explore more Recap’23 Interviews here.

  • AAONXT CEO – Kaushik Das Shares Insights on Navigating the Evolving Landscape of Digital Entertainment

    StartupTalky presents Recap’23, a series of in-depth interviews where we engage with founders and industry leaders to explore their growth in 2023 and their predictions for the future.

    OTT platforms will continue to disrupt traditional media and may even start to compete directly with cable and satellite TV providers. This could lead to more cord-cutting and a shift in the traditional TV landscape

    Revenue in the OTT Video market in India is projected to reach US$4,144.00m in 2024. The market is expected to show an annual growth rate (CAGR 2024-2028) of 7.74%, resulting in a projected market volume of US$5,584.00m by 2028.

    In a recent Recap’23 interview, we at StartupTalky had the privilege of connecting with Kaushik Das, CEO & Founder of AAO NXT. We explored how the AAO NXT industry is revolutionizing the OTT platform industry by analyzing its documentaries, web series, feature films, and future strategies.

    StartupTalky: What service does your company provide? What was the motivation/vision with which you started?

    Mr. Kaushik Das: AAONXT stands as Eastern India’s premier OTT platform, curating a rich array of web series, feature films, and documentaries. Our foundational vision was to bridge the gap in global entertainment by highlighting indigenous Odia content, celebrating Odisha’s cinematic heritage, and reaching out to the vast diaspora of over 50 million Odias worldwide.

    StartupTalky: What new services have been added in the past year? What is/are the USP/s of your service?

    Mr. Kaushik Das: Yes, we’ve continually expanded our content library. Our offerings now span across diverse genres and languages, including Assamese, reflecting our commitment to linguistic diversity. Our USP lies in our focus on authentic regional narratives, ensuring that stories resonate universally while staying rooted in their cultural origins.

    StartupTalky: How has the industry you are in changed in recent years and how has your company adapted to these changes?

    Mr. Kaushik Das: In the rapidly evolving landscape of digital content consumption, AAONXT has consistently demonstrated agility and foresight. Recognizing the pivotal role of collaborations in amplifying our content portfolio, we’ve forged strategic partnerships with leading production houses. These alliances not only enriched our content library but also positioned us as a preferred platform for diverse content creators, ensuring a steady influx of high-quality content.

    Moreover, understanding that user experience is paramount in retaining and expanding our viewer base, we’ve invested significantly in refining our platform’s interface. Our user-friendly design, intuitive navigation, and personalized recommendation algorithms have enhanced viewer engagement, fostering longer sessions and deeper content exploration.

    Beyond content and design, our commitment to innovation is unwavering. We continually monitor industry trends, harnessing emerging technologies and methodologies to enhance our platform’s capabilities. Our audience-centric approach means that every feature, update, or content addition is meticulously curated, keeping viewer preferences and feedback at the core.

    In essence, our proactive approach to partnerships, coupled with a relentless focus on enhancing user experience and pioneering innovation, has positioned AAONXT as a trailblazer in the digital content realm, adeptly navigating industry transformations.

    Mr. Kaushik Das: We prioritize market research, engage in collaborations with content creators, and invest in technological advancements. Our team actively attends industry events, ensuring we’re always abreast of emerging trends and developments.

    StartupTalky: What key metrics do you track to check the company’s growth and performance?

    Mr. Kaushik Das: For AAONXT, the metrics we prioritize offer a comprehensive view of our platform’s health, audience satisfaction, and growth trajectory. At the forefront, subscriber growth remains a vital barometer of our platform’s appeal and market penetration. A rising subscriber base not only signifies increased brand recognition but also underlines the efficacy of our content and user experience.

    Content engagement rates provide us with insights into how effectively our offerings resonate with viewers. High engagement, reflected through metrics like watch time, shares, and interactions, indicates content relevance and viewer satisfaction. This engagement, in turn, fosters a sense of community and loyalty among our user base.

    Viewer feedback stands as a testament to our commitment to continuous improvement. We actively solicit and analyze feedback, using it as a catalyst for refining our platform, enhancing content offerings, and addressing user pain points. Such direct insights from our audience enable us to remain agile and responsive to evolving preferences.

    Strategic partnership expansions offer a dual benefit. They not only amplify our content library but also solidify our position in the industry, opening doors to collaborative ventures that drive mutual growth and innovation.

    Additionally, the diversity of our content library and user retention metrics are pivotal in our evaluation matrix. A diverse content portfolio ensures that we cater to varied audience segments, fostering inclusivity and broadening our appeal. Meanwhile, robust user retention metrics, indicative of viewer loyalty and satisfaction, reaffirm our platform’s value proposition and sustainable growth potential.

    In summary, a holistic blend of subscriber growth, content engagement, viewer feedback, strategic alliances, content diversity, and user retention forms the cornerstone of our performance evaluation, guiding AAONXT’s strategic direction and operational excellence.

    StartupTalky: What were the most significant challenges your company faced in the past year and how did you overcome them?

    Mr. Kaushik Das: While content acquisition and market positioning presented challenges, we overcame them by forging stronger collaborations with local content creators and innovating our content distribution strategies, ensuring a wider reach and diverse offerings.

    StartupTalky: Good service is something everyone is talking about in the service industry. How do you ensure that your clients are happy?

    Mr. Kaushik Das: In the fiercely competitive landscape of digital content delivery, AAONXT’s unwavering dedication to service excellence is deeply rooted in a multifaceted approach that places our users at the heart of every decision and innovation. At its core, our commitment is anchored in crafting personalized user experiences that resonate with individual preferences and viewing habits. Recognizing that every viewer is unique, we’ve invested extensively in developing algorithms and user interfaces that curate content tailored to specific tastes, ensuring that each user feels seen, understood, and catered to.

    Prompt and efficient customer support stands as another cornerstone of our strategy. We’ve established robust channels for user queries, feedback, and concerns, ensuring that our response mechanisms are not just reactive but proactive. Our customer support teams are trained to anticipate user needs, offer timely resolutions, and foster positive interactions that enhance overall user satisfaction.

    Furthermore, our dedication to unparalleled client satisfaction extends beyond individual interactions to encompass broader community engagement initiatives. We’ve cultivated vibrant online communities where users can connect, share feedback, discuss content, and even influence future platform developments. These community-centric spaces not only foster a sense of belonging among users but also provide us with invaluable insights into emerging trends, preferences, and areas of improvement.

    Consistent iteration forms the final pillar of our commitment. We view user feedback as a catalyst for growth and innovation, continually refining and enhancing our platform based on user insights. Whether it’s introducing new content categories, optimizing streaming speeds, or enhancing user interface elements, every update and enhancement is meticulously designed to meet and exceed viewer expectations.

    In essence, AAONXT’s strategy for ensuring unparalleled client satisfaction is a synergistic blend of personalized user experiences, responsive customer support, vibrant community engagement, and continuous iteration based on user feedback. Through these concerted efforts, we strive to set industry benchmarks for service excellence, reinforcing our position as a platform that truly values and prioritizes its users.

    StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack that you pulled off.

    Mr. Kaushik Das: Navigating the competitive terrain of the digital content industry demands a multifaceted and dynamic marketing approach. At AAONXT, our growth trajectory has been shaped by a strategic blend of innovative marketing strategies, each tailored to amplify our brand presence, engage our audience, and foster sustainable growth.

    Central to our marketing blueprint are our digital campaigns. Leveraging data-driven insights and analytics, we’ve crafted targeted campaigns that resonate with specific audience segments, driving awareness, engagement, and conversion. These campaigns are meticulously designed to highlight our unique value propositions, showcase our diverse content offerings, and reinforce our brand ethos in memorable ways.

    Influencer collaborations stand as another pivotal pillar of our marketing strategy. Recognizing the influential power of digital personalities and content creators, we’ve forged strategic partnerships with influencers who align with our brand values and resonate with our target demographic. These collaborations have enabled us to tap into new audience pools, foster authentic brand advocacy, and leverage the credibility and reach of influencers to amplify our messaging.

    Complementing our digital campaigns and influencer partnerships are our community-driven initiatives. We’ve cultivated a vibrant online community around AAONXT, fostering spaces where users can engage, share feedback, discuss content, and even contribute to platform enhancements. This community-centric approach not only fosters brand loyalty but also turns users into brand ambassadors, driving organic growth through word-of-mouth referrals and peer recommendations.

    A standout growth hack that has significantly propelled our expansion has been our localized content approach. Recognizing the diverse linguistic and cultural landscape of our target audience, we’ve invested in curating content that resonates deeply with regional sensibilities and preferences. This hyper-localized content strategy has not only enhanced user engagement and retention but also fostered a deeper connection with our audience, driving organic growth as satisfied users advocate for AAONXT within their communities.

    In summary, AAONXT’s marketing strategies blend data-driven digital campaigns, strategic influencer collaborations, community-driven initiatives, and a hyper-localized content approach to drive brand awareness, engagement, and growth. Through these concerted efforts, we’ve carved a distinctive niche in the digital content landscape, continuously expanding our footprint and reinforcing our position as a preferred platform for regional content consumption.

    StartupTalky: Foreign clients- this is what most of the service-based companies are looking for. What has been your experience?

    Mr. Kaushik Das: Engaging with a global audience has been a transformative experience for AAONXT, particularly in our interactions with the expansive Odia diaspora scattered across continents. The rich tapestry of cultural connections and shared experiences that bind the global Odia community has provided us with a unique vantage point to understand the nuanced content preferences and aspirations of Indians residing overseas.

    Our content, meticulously curated to reflect the diverse cultural ethos of Odisha, has resonated deeply with the global Odia diaspora, serving as a nostalgic bridge to their roots and a vibrant celebration of their cultural heritage. This resonance has transcended geographical boundaries, forging a powerful emotional connection that transcends mere content consumption, transforming it into a shared cultural experience that unites the global Odia community.

    Beyond content consumption, our engagement with the global Odia diaspora has been characterized by vibrant interactions, feedback loops, and community-driven initiatives. The enthusiastic response from overseas audiences has been instrumental in refining our global content strategy, ensuring that our offerings strike a harmonious balance between preserving regional authenticity and catering to the cosmopolitan sensibilities of a global audience.

    Furthermore, the feedback and insights garnered from our interactions with the global Odia community have been invaluable in shaping our broader global content strategy. These insights have empowered us to craft content that resonates universally, transcending cultural boundaries to captivate and engage diverse audiences, irrespective of their geographical location.

    In essence, our experience in engaging with foreign clients, particularly the global Odia diaspora, has been immensely rewarding. Their feedback, enthusiasm, and unwavering support have not only enriched our content offerings but also reaffirmed the universal appeal and enduring power of regional narratives. Through these engagements, we’ve forged stronger bonds with our global audience, reinforcing AAONXT’s position as a trusted curator of authentic regional content that resonates with Indians all over the world, fostering a sense of unity, belonging, and shared cultural pride.

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    StartupTalky: What are the important tools and software you use to run your business smoothly?

    Mr. Kaushik Das: State-of-the-art streaming technologies, content management systems, analytics platforms, and AI-driven recommendation engines have been pivotal in enhancing our platform’s efficiency and user experience.

    StartupTalky: What opportunities do you see for future growth in your industry in India and the world? What kind of difference in market behavior have you seen between India and the world?

    Mr. Kaushik Das: As we cast our gaze towards the future, the digital content industry stands at the cusp of unprecedented growth and transformation, presenting a myriad of opportunities and trajectories that promise to redefine the landscape both within India and on the global stage.

    Domestically, India’s burgeoning digital adoption, fueled by robust internet penetration, affordable smartphones, and a tech-savvy youth demographic, sets the stage for exponential industry growth. The rapidly evolving digital infrastructure, coupled with a burgeoning middle class with disposable income, creates a fertile ground for platforms like AAONXT to flourish. We anticipate a surge in demand for diverse, high-quality digital content that caters to a myriad of tastes, preferences, and regional nuances. This demand will not only fuel content consumption but also stimulate innovation, fostering a vibrant ecosystem of creators, storytellers, and technologists who collaborate to push the boundaries of digital content creation and delivery.

    Furthermore, as India continues its march towards becoming a digital-first nation, we foresee a democratization of content creation, with regional narratives and voices taking center stage. This democratization will pave the way for a renaissance of regional storytelling, enabling platforms like AAONXT to serve as catalysts that amplify these voices, making localized narratives accessible, resonant, and celebrated on a national scale.

    On the global front, the ascendance of regional content to mainstream prominence heralds a new era of cultural exchange and appreciation. Platforms like AAONXT, with their curated repositories of authentic regional content, are uniquely positioned to bridge cultural divides, fostering a global community that transcends geographical boundaries. We anticipate a growing appetite for diverse, localized content among international audiences, driven by a desire for authentic storytelling that offers a window into different cultures, traditions, and perspectives.

    Moreover, as global audiences increasingly seek content that resonates on a personal and cultural level, the demand for regional content is poised to skyrocket, offering platforms like AAONXT an unprecedented opportunity to expand their global footprint, forge strategic partnerships, and emerge as leaders in the global digital content space.

    All in all, the horizon is brimming with potential and promise for the digital content industry. Domestically, India’s digital transformation promises a golden era of growth and innovation, while on the global stage, the rise of regional content opens doors to new markets, audiences, and opportunities. As we navigate this exciting landscape, platforms like AAONXT are poised to play a pivotal role in shaping the future of digital content, fostering cultural exchange, and celebrating the rich tapestry of stories that unite us all.

    StartupTalky: What lessons did your team learn in the past year and how will these inform your future plans and strategies?

    Mr. Kaushik Das: Adaptability, audience-centricity, and collaboration have been key learnings. These insights shape our future strategies, emphasizing innovation, talent acquisition, and fostering a culture of continuous learning and growth.

    StartupTalky: Drawing from your rich entrepreneurial journey, what singular piece of advice would you extend to fellow founders within the service sector?

    Mr. Kaushik Das: Embarking on an entrepreneurial journey within the service sector is both exhilarating and challenging, marked by moments of triumph and adversity. Reflecting on my own experiences and lessons learned along the way, there is a singular piece of advice that I would wholeheartedly extend to fellow founders navigating this dynamic landscape: cultivate a relentless focus on innovation, prioritize the evolving needs of your audience, and foster resilience as your guiding force.

    Innovation stands as the lifeblood of any successful venture, especially within the service sector where differentiation and value proposition are paramount. Embracing innovation means continually challenging the status quo, seeking novel solutions to persistent challenges, and staying abreast of emerging trends, technologies, and market dynamics. It’s about fostering a culture of curiosity, experimentation, and forward-thinking that empowers your team to envision and create groundbreaking services that resonate deeply with your audience.

    Equally critical is the unwavering commitment to prioritize the needs and aspirations of your audience. In the service sector, success is intrinsically tied to your ability to understand, anticipate, and exceed customer expectations. This entails cultivating a deep sense of empathy, actively listening to customer feedback, and iterating your services based on real-world insights. By placing your audience at the heart of your decision-making process, you not only enhance customer satisfaction but also foster enduring relationships that drive loyalty, advocacy, and sustained growths.

    Resilience, perhaps, is the most invaluable trait that I would advocate for. Entrepreneurship, with its inherent uncertainties and challenges, demands a steadfast resolve and unwavering determination to persevere in the face of adversity. It’s about embracing failures as invaluable learning opportunities, navigating through obstacles with grace and grit, and maintaining an unwavering belief in your vision and mission, even when the path forward seems fraught with challenges. Resilience is what transforms setbacks into comebacks, trials into triumphs, and dreams into realities.

    In essence, my advice to fellow founders within the service sector is to embrace innovation as your compass, prioritize your audience as your North Star, and cultivate resilience as your steadfast ally. By weaving these principles into the fabric of your entrepreneurial journey, you not only set the stage for sustained success but also leave an indelible impact on the communities you serve, the industry you operate in, and the world at large. These responses encapsulate AAONXT’s journey, vision, and strategic approach in the digital entertainment landscape.

    Explore more Recap’23 Interviews here.

  • e-Sprinto – Co-Founder & Director Mr. Atul Gupta Shares Insights on Navigating EV Industry Trends

    StartupTalky presents Recap’23, a series of in-depth interviews where we engage with founders and industry leaders to explore their growth in 2023 and their predictions for the future.

    The electric vehicles industry is at a nascent stage in India. It is less than 1% of the total vehicle sales however has the potential to grow to more than 5% in a few years.

    The EV-Ready India dashboard has projected an impressive 45.5% Compounded Annual Growth Rate (CAGR) in electric vehicle sales between 2022 and 2030, indicating a substantial surge from the 6,90,550 electric two-wheelers (E2Ws) sold in 2022 to a staggering 1,39,36,691 E2Ws expected to hit the Indian roads by 2030

    In a recent Recap’23 interview, we at StartupTalky had the privilege of connecting with Atul Gupta, Co-Founder & Director of e-Sprinto. We explored how the e-Sprinto industry is revolutionizing the EV industry by analyzing its development, innovations, insights, and future strategies.


    StartupTalky: What does e-Sprinto company do? What was the motivation/vision with which you started?

    Mr. Atul Gupta: At e-Sprinto, our core aim revolves around transforming India’s electric two-wheeler sector through the provision of top-notch, cost-effective, and eco-friendly electric scooters. The inception of e-Sprinto was driven by a profound conviction in the capacity of electric vehicles (EVs) to pave the way for a more sustainable future. With over 38 years of experience in the automobile industry and a background at Yamaha, Suzuki, and TVS, I, along with my co-founders Vinod and Shalu Gupta, envisioned e-Sprinto as a brand that not only delivers top-quality electric two-wheelers but also upholds ethical values and sustainability. Our mission is to provide reliable, performance-oriented, and sustainable products while fostering trust and satisfaction among our customers, ultimately establishing e-Sprinto as a leading name in the Indian EV industry.

    StartupTalky: What is/are the USP/s of e-Sprinto products?

    Mr. Atul Gupta: e-Sprinto takes pride in several unique selling propositions (USPs) that set our electric scooters apart in the market. First and foremost, our commitment to affordability and sustainability makes e-Sprinto stand out. Our electric scooters are attractively priced, coupled with a low energy consumption of just 1.5 units per charge, making them a cost-effective and eco-friendly choice for riders. Additionally, we prioritize user experience, ensuring our scooters are designed with precision, comfort, and manoeuvrability, tailored to the demands of Indian traffic conditions. The diverse range of models, including the e-Sprinto, e-Sprinto BB, Roamy, Rapo low-speed scooters, and high-speed scooters like the e-Sprinto HS and Amery, cater to various customer preferences. This commitment to innovation, combined with state-of-the-art technology and rigorous quality assurance, positions e-Sprinto as a standout brand in the electric two-wheeler market.

    StartupTalky: How has the industry you are in changed in recent years and how has the e-Sprinto company adapted to these changes?

    Mr. Atul Gupta: The electric vehicle industry has witnessed a remarkable transformation in recent years, projected to achieve a compelling compound annual growth rate (CAGR) of 94.4% from 2021 to 2030. At e-Sprinto, we’ve adeptly navigated industry changes by remaining agile and responsive to evolving trends. In the face of growing technological advancements, shifting consumer preferences towards eco-friendly solutions, and supportive government policies fostering sustainable transportation, we’ve strategically positioned ourselves. Recognizing the surge in demand for electric scooters, we’ve expanded our product range to cater to diverse consumer needs. Rapid progress in battery technology and charging infrastructure has been actively integrated into our offerings, ensuring that our electric scooters reflect the latest innovations. Moreover, aligning our strategies with the changing regulatory landscape has been instrumental, in allowing us to stay competitive and innovative in the dynamic electric two-wheeler market.

    Mr. Atul Gupta: Remaining at the forefront of industry trends is crucial at e-Sprinto. We adopt a comprehensive approach, involving ongoing market research, active participation in industry events, and engagement with industry publications and forums. This dedication to staying informed significantly shapes our product roadmap and business strategy. For example, the rising demand for eco-friendly mobility led to the expansion of our electric scooter range. Furthermore, advancements in battery technology and charging infrastructure trends have guided the integration of innovative features, ensuring our products stay aligned with the latest industry developments.

    StartupTalky: What key metrics do you track to check the e-Sprinto growth and performance?

    Mr. Atul Gupta: At e-Sprinto, we monitor several key metrics to gauge our company’s growth and performance. These include sales volume and revenue growth, market share expansion in targeted regions, customer acquisition and retention rates, dealership network expansion, and customer satisfaction scores. Additionally, we closely track operational efficiency metrics such as production yield, inventory turnover, and supply chain efficiency. These key performance indicators help us assess our progress, make informed decisions, and fine-tune our strategies to achieve sustainable growth and maintain our competitive edge in the electric two-wheeler market.

    StartupTalky: What were the most significant challenges e-Sprinto company faced in the past year and how did you overcome them?

    Mr. Atul Gupta: In the past year, we encountered notable challenges in the form of increased competition and negative sentiments among dealers associated with certain brands. To overcome these hurdles, our company strategically focused on two pillars: an unwavering commitment to product quality and a robust after-sales service. By prioritizing these aspects, we not only differentiated ourselves in a crowded market but also built trust among dealers, fostering positive relationships. This approach not only addressed the challenges posed by non-serious players in the industry but also positioned e-Sprinto as a reliable and quality-focused brand in the electric two-wheeler market.

    StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack that you pulled off.

    Mr. Atul Gupta: Our marketing strategies at e-Sprinto are diverse, incorporating digital platforms, social media, and targeted online campaigns to create brand awareness. Collaborations with influencers, strategic partnerships, and participation in relevant events contribute to our visibility. One notable growth hack involved a rapid expansion of our dealership network. In a single day, we unveiled 26 dealership showrooms, a strategic move that not only increased our geographic presence but also garnered positive industry acceptance. This approach facilitated a broader market reach, enhanced accessibility for customers, and contributed to the positive response to our electric scooters.

    StartupTalky: What are the important tools and software you use to run your business smoothly? 

    Mr. Atul Gupta: At e-Sprinto, we utilize a range of tools and software to streamline our operations. We leverage Customer Relationship Management (CRM) software to manage customer interactions and relationships effectively. Additionally, Enterprise Resource Planning (ERP) systems aid in integrating various business processes, enhancing efficiency in managing finances, inventory, and procurement. For our marketing efforts, we rely on analytics tools to track campaign performance and social media management platforms to engage with our audience. Moreover, logistics and supply chain management software ensure smooth coordination in sourcing materials and delivering finished products to our dealerships across regions. These tools collectively contribute to the seamless functioning of our business processes.

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    StartupTalky: What opportunities do you see for future growth in the EV industry in India and the world? What kind of difference in market behaviour have you seen within states in India?

    Mr. Atul Gupta: In the electric vehicle industry, both domestically and globally, significant growth is anticipated, fueled by rising environmental consciousness, governmental backing, and technological progress. Opportunities abound in diversifying our product range, investing in sustainable technologies, and entering emerging markets. In the Indian context, there are discernible variations in market behaviour among states. Progressive states, equipped with robust charging infrastructure and supportive policies, exhibit higher EV adoption rates. Regions with proactive government incentives and a strong emphasis on sustainability, present more favourable market dynamics than states with slower regulatory support and infrastructure development. This understanding guides our strategies for effective market penetration.

    StartupTalky: What lessons did the e-Sprinto team learn in the past year and how will these inform e-Sprinto future plans and strategies?

    Mr. Atul Gupta: In the past year, our team learned the value of adaptability and resilience in a dynamic market. We understood the importance of prioritizing customer-centric approaches, focusing on product quality, and fostering robust after-sales services. These lessons emphasize our commitment to maintaining high standards, agility in responding to market changes, and the imperative to enhance customer satisfaction. Moving forward, these insights will guide our future plans, reinforcing our dedication to innovation, service excellence, and sustainable growth in the electric vehicle industry.

    StartupTalky: How do you plan to expand the Customers, product, and team base in the future?

    Mr. Atul Gupta: Our expansion strategy revolves around a multi-faceted approach. To expand our customer base, we aim to enhance brand visibility through targeted marketing, strategic partnerships, and a continued focus on product quality and innovation. For product expansion, we plan to diversify our portfolio with new models that cater to evolving consumer needs. Regarding the team, we are actively recruiting top talent and fostering a dynamic work environment to support our growing operations. 

    StartupTalky: One tip that you would like to share with people reading this article who want to get into entrepreneurship?

    Mr. Atul Gupta: My advice to aspiring entrepreneurs is to nurture resilience. Entrepreneurship is a path laden with challenges, setbacks, and uncertainties. Resilience empowers you to rebound from failures, adapt to changes, and remain dedicated to your vision. Embrace lessons from every experience, build a supportive network, and recognize that setbacks are stepping stones to success. A resilient mindset not only aids in navigating challenges but also cultivates the perseverance required to transform entrepreneurial dreams into reality.

    Explore more Recap’23 Interviews here.

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  • FF21 Elevating Co-Living in Bangalore – CEO Ajay Nemani Unveils Insights and Future Plans

    StartupTalky presents Recap’23, a series of in-depth interviews where we engage with founders and industry leaders to explore their growth in 2023 and their predictions for the future.

    The co-living industry has emerged as a transformative force in the real estate sector, redefining the way individuals experience communal living. This innovative housing model goes beyond traditional renting, offering residents not just a place to stay but a vibrant community-driven lifestyle.

    According to a recent report by Cushman & Wakefield India, the co-living market in India is forecast to grow at a compound annual growth rate (CAGR) of 17% from 2020 to 2025, indicating an upward trend. This anticipated expansion is set to drive the market’s value to an impressive USD 40 billion by 2025.

    In a recent Recap’23 interview, we at StartupTalky had the privilege of connecting with Ajay Nemani, CEO of FF21. We examined how FF21 is making a mark for itself within the co-living industry, analyzing its strategies and unique positioning.

    StartupTalky: What service does FF21 provide? What was the motivation/vision with which you started?

    Ajay Nemani: Founded in 2017, FF21 is a Bangalore co-living place that offers affordable and fully furnished accommodation for young professionals and learners. We operate with six properties in various Bangalore neighbourhoods, including HBR Layout, Kundanahalli, Mahadevapura, ITPL, and Thubarahalli, collectively accommodating around 1500 residents.

    Our objective for launching FF21 was to establish a community-driven living experience that encourages collaboration, networking, and personal development. We sought to create a welcoming and convenient environment where people could succeed both personally and professionally, establishing a sense of connection and support among our residents. In a busy metropolis like Bangalore, the working population is rising, and they need a place that fits their specific needs and provides them with a sense of belonging. FF21 is a home for people overcoming the challenges of being separated from their roots, not just a place to stay. When people relocate, we believe they should have access to a community that supports their growth and adaptability, as well as a place to call home.

    StartupTalky: What new services have been added in the past year? What is/are the USP/s of the Co-Living Industry service?

    Ajay Nemani: We have worked on a few significant efforts in terms of spatial design and process efficiency during the last year. In terms of space, we established the concept of FF21 pods, in which we provide clients with completely equipped private rooms at affordable rates. With the installation of our in-house software platform, we can ensure that customer tickets are successfully tracked and closed. We want to resolve and respond to client tickets more effectively with the implementation of our OTP-based ticket closure system. We’ve also included a card-based task management application to help us keep track of scheduled and unscheduled work.

    Our commitment to establishing a lively community and delivering great amenities is one of the unique selling factors (USPs) of our co-living service at FF21 in Bangalore. Exclusive networking events, workshops, and social gatherings are available to our residents, encouraging significant relationships and partnerships. Furthermore, our professionally designed areas provide the ideal balance of comfort, style, and functionality, ensuring that every resident feels at ease. 

    In addition to it, Co-Living Industry property provides more than just a place to stay. It’s an odd concept that mixes the conveniences of working, staying, and playing all under one roof. Without leaving the premises, one can effortlessly switch between a working and a resting demeanour. From a pleasant location to stay to a decent working atmosphere to the best entertainment alternatives, FF21 offers it all. 

    StartupTalky: How has the Co-Living Industry changed in recent years and how has FF21 adapted to these changes?

    Ajay Nemani: In recent years, the Bangalore co-living business has seen major developments. With the increasing number of job opportunities in the city, the market has become more competitive and dynamic as demand for flexible housing options has increased. Following COVID, there is a greater demand than ever for better hygienic settings in terms of clean space and hygienic food. The development of the hybrid working style has enhanced the desire for privacy and personal space. People are now asking for coliving spaces that not only provide clean and sanitary conditions but also private rooms or offices where they can work without distractions. 

    In response to these developments, our organization has changed by constantly improving our offers and services to meet our residents’ changing demands. We have improved community involvement activities, added modern amenities, and embraced technology to expedite the booking and management operations. Our major focus since the beginning has been on providing larger common areas to provide our residents with the comfort of working and resting in the same space. In addition, we work with professional food vendors to provide residents with a variety of meal options.  This collaboration guarantees that our residents have easy access to great and diversified food selections, which improves their entire living experience with us. 

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    Ajay Nemani: Staying current on the newest trends and advances in this business is vital to my professional development. To that end, I actively attend industry conferences, workshops, and webinars. In addition, I often interact with thought leaders and professionals via online forums and social media platforms to obtain insights and stay up to date on the newest developments. Furthermore, we do market research and analysis regularly to discover developing trends and consumer preferences to adjust our company strategy accordingly. We adjust our services and solutions to fit their shifting demands by regularly communicating with our residents and staying informed about changing work trends and preferences. This proactive approach allows us to keep ahead of the competition and preserve a competitive edge.

    StartupTalky: What key metrics do you track to check the company’s growth and performance?

    Ajay Nemani: We track numerous critical parameters to analyse our company’s growth and performance. Revenue growth, client acquisition and retention rates, occupancy rates, and average revenue per user are examples of these. Furthermore, we keep a careful eye on the company’s financial health by measuring profitability statistics like gross margin and operating margin. We acquire significant insights into our company’s overall success and trajectory by evaluating these measures. Being aware of customer feedback further helps us understand our growth and performance. Keeping track of regularly scheduled activities leads to more customer satisfaction and growth eventually.

    StartupTalky: What were the most significant challenges FF21 faced in the past year and how did you overcome them? 

    Ajay Nemani: While the coliving sector in India has risen significantly, it has not been without challenges. The resident’s commitment to a longer duration stay has been compromised as a result of the hybrid working style. Furthermore, Post Covid, the increasing demand for shared spaces, has resulted in the entry of numerous new competitors into the business. Even if demand has returned to normal levels, competition remains rigid. 

    To overcome these challenges, FF21 implemented various strategies. Firstly, we focused on enhancing the overall resident experience by offering flexible lease options to attract long-term commitments. By continuously adapting and innovating our offerings, we were able to maintain a strong position in the market despite the increased competition. 

    StartupTalky: Good service is something everyone is talking about in the service industry. How do you ensure that FF21’s clients are happy?

    Ajay Nemani: We focus on understanding our clients’ wants and preferences to ensure their complete satisfaction. We actively seek client feedback and make necessary modifications based on their suggestions. Our committed team of staff members is trained to provide customized attention and timely support with any problems or issues that may occur during their stay. This allows us to obtain insights into their experience and make the necessary changes to improve their overall satisfaction. 

    Furthermore, by organizing community events and activities, we seek to create a warm and inclusive environment for our clients, encouraging a sense of belonging. We aim to ensure that our clients are happy and satisfied with their stay by constantly working to improve our services and create a great living experience. 

    StartupTalky: What are the different strategies FF21 use for marketing? Tell us about any growth hack that you pulled off.

    Ajay Nemani: Because everything these days is online, all of our marketing efforts are primarily centred on digital media. To reach our target audience and generate compelling content that resonates with them, we use social media platforms such as Facebook, Instagram, and LinkedIn. 

    Collaboration with local influencers and bloggers in the city was one growth hack that we effectively utilized. We were able to tap into their established fan base and generate awareness around our coliving facility by working with them. This not only raised brand recognition but also encouraged more potential buyers to visit our website and schedule a tour. Aside from that, we feature our inhabitants on social media to give a sneak glimpse into the ambience of the property.

    StartupTalky: What are the important tools and software you use to run FF21’s business smoothly? 

    Ajay Nemani: We rely on a variety of critical tools and software to maintain the seamless operation of our organization. We can easily manage appointments, track payments, and keep a comprehensive database of our clients thanks to our in-house software, which is curated with details from the customer’s first interaction until the checkout process. We also employ third-party technologies for operations as necessary.  Residents can use our app to effortlessly contact our staff, get crucial information about the coliving space, and request any necessary repairs or services. In addition, we use project management tools to optimise internal processes and promote optimal team cooperation. 

    StartupTalky: What opportunities do you see for future growth in the Co-living industry in India and the world? What kind of difference in market behaviour have you seen between India and the world?

    Ajay Nemani: The co-living sector in India has enormous potential for future expansion. The concept is becoming increasingly popular as the younger generation seeks flexible and affordable housing options. India, with a huge population of millennials and Generation Z, represents a significant market opportunity for the co-living business to grow and develop.

    However, in comparison to the worldwide market, India’s co-living sector remains small and underdeveloped. Co-living has gained traction and has become an established trend in other regions of the world, such as Europe and the United States. Co-living is becoming more popular as a mainstream housing choice in many regions, as seen by market behaviour. 

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    StartupTalky: What lessons did the FF21 team learn in the past year and how will these inform FF21’s plans and strategies?

    Ajay Nemani: In the ever-changing coliving industry, our team has learned the value of flexibility and adaptability over the last year. We’ve discovered that being able to quickly change our offerings and services based on our residents’ requirements and preferences is critical for success. Moving forward, these lessons will guide our future plans and initiatives, ensuring that we prioritise constant innovation and remain sensitive to our target audience’s changing demands. 

    StartupTalky: How do FF21 plan to expand the Customers, service offering, and team base in the future?

    Ajay Nemani: We intend to spread our services in other sections of Bangalore and other cities over the next 15-18 months. In terms of service possibilities, we intend to investigate various inventory models. We also intend to increase our bed capacity by 2500-3000 in the next 18-24 months. When it comes to hiring for our team, we want to find talented people who can contribute to our growth and improve the customer experience.  We are optimistic about attaining our expansion targets in the near future by consistently enhancing our services, extending our inventory, and strengthening our workforce. 

    StartupTalky: One tip that you would like to share with another Service company founder?

    Ajay Nemani: One thing that any business owner must remember is to keep the consumer at the centre of everything they do. Understanding the impact of each decision made on the customer experience and satisfaction is critical. It is critical to regularly solicit client input and change to fulfil their wants and expectations. It is critical to adhere to the financial plans and budgets set aside for the company’s growth while also ensuring that customer happiness remains a top concern. Furthermore, cultivating a strong company culture that prioritizes customer-centricity and pushes staff to go above and beyond for customers can significantly contribute to the business’s success.

    StartupTalky extends its gratitude to Mr. Ajay Nemani for dedicating his valuable time and generously sharing his insights with all of us.

    Explore more Recap’23 Interviews here.

  • Sudeep Kulkarni’s Game-Changer: Navigating the Future of Sports Tech With Game Theory

    StartupTalky presents Recap’23, a series of in-depth interviews where we engage with founders and industry leaders to explore their growth in 2023 and their predictions for the future.

    The sports industry is a global powerhouse with a multi-billion-dollar market that encompasses professional leagues, equipment manufacturing, and media. Major events like the Olympics and FIFA World Cup generate massive revenue through sponsorships and ticket sales. Athlete endorsements and partnerships are crucial turning sports stars into influential figures. Technology, such as virtual reality and data analytics, revolutionizes training and fan engagement.

    In 2022, the sports market was anticipated to achieve $2.65 billion in revenue, with industry revenue reaching nearly $487 billion. Projections indicated a compound annual growth rate (CAGR) of 5.2% between 2022 and 2023. The global sports market is expected to surpass $623 billion by 2027.

    In a recent Recap’23 interview, we at StartupTalky had the privilege of connecting with Sudeep Kulkarni, Founder and CEO of Game Theory. We examined Game Theory’s operations within the sports industry, analyzing their strategies and unique positioning.

    StartupTalky: What inspired the founding of Game Theory, and how has the vision evolved since its inception?

    Sudeep Kulkarni: Game Theory was inspired by the founders’ understanding of challenges in the sports and fitness industry, evolving from insights gained in Sudeep’s previous venture, “The Tribe.” The vision shifted towards creating a seamless, engaging experience for real sports, simplifying scheduling, and improving player interactions by gamifying the entire experience.

    Since its inception, Game Theory has transformed into a platform redefining sports participation challenges, offering professional sports experiences to all. Collaborating with prominent sports figures, powering coaching academies, and providing world-class facilities, the company now focuses on delivering the joy of playing sports and democratizing access through top-tier facilities and elite coaching. Positioned as the future of sports, Game Theory embraces innovation and technology to continually enhance user experiences.

    StartupTalky: What is/are the USPs that set Game Theory apart in the sports-tech industry?

    Sudeep Kulkarni: At Game Theory, our mission is to redefine the sports-tech industry with a set of Unique Selling Propositions (USPs) that truly distinguish us. We take pride in elevating the sports experience through extensive gamification, ensuring every aspect is engaging and contributes to a journey that users find immersive and enjoyable. What sets us apart from competitors is our strategic approach to facility utilization – a blend of leisure play and coaching for a sustainable growth model. Unlike merely focusing on availability, we prioritize strategic venue optimization. Our commitment is underscored by collaborations with renowned sports figures like Phelps Academy, Rohan Bopanna, and Pullela Gopichand. This highlights our dedication to powering coaching academies and delivering world-class facilities, ensuring that our users receive the best in sports training and experiences.

    Democratizing sports is at the heart of our mission. We aim to make professional sports experiences accessible to everyone, delivering the ultimate joy of playing sports with top-tier facilities and access to elite coaching. Our strategy is infused with innovation and technology integration, leveraging cutting-edge trends such as AI, ML, computer vision, edge computing, wearables, and fitness tech.

    StartupTalky: In what ways does Game Theory aim to make sports more accessible, enjoyable, and habit-forming for users? Are there specific strategies or technologies employed to cater to a diverse audience?

    Sudeep Kulkarni: Game Theory is committed to enhancing the accessibility, enjoyment, and habit-forming nature of sports through a comprehensive approach. Leveraging specific strategies and cutting-edge technologies, the company has crafted a multifaceted initiative. The gamified experience stands as a cornerstone, where we incorporate gamification into every facet of the sports journey. This move aims to infuse an element of fun and competition, acting as a compelling hook to make sports more engaging and habit-forming for users.

    In the realm of facility optimization, we distinguish ourselves from competitors by strategically blending leisure play and coaching. This unique approach ensures users have convenient access to top-tier facilities, fostering an environment that makes sports more accessible and enjoyable. Technology integration is a key element in Game Theory’s strategy, incorporating cutting-edge trends such as AI, ML, computer vision, edge computing, wearables, and tech in fitness. This not only enhances the overall enjoyment of sports but also introduces technology as a motivational tool, creating an immersive and engaging sports experience.

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    StartupTalky: Can you elaborate on any ‘gamified’ elements integrated into Game Theory’s offerings? How does the platform use features like automated scoring, game highlights, and stats to enhance user engagement?

    Sudeep Kulkarni: We go beyond conventional sports engagement by integrating various gamified elements into its platform. The use of automated scoring streamlines the gameplay experience, providing precision without the need for manual scorekeeping. Additionally, the inclusion of game highlights adds a storytelling dimension, allowing users to relive and share their standout moments. Pro-sports-like statistics offer valuable insights into individual performance, fostering a data-driven approach for users to track progress and set goals.

    Leaderboards and challenges introduce friendly competition, build a sense of community, and encourage ongoing participation. The rewards system further enhances user engagement by providing recognition and incentives for skill improvement. Through these gamified features, Game Theory creates an immersive and dynamic sports environment, making the platform not only a space for physical activity but also a compelling and enjoyable journey for users. Further in our technology roadmap, we aim to make video analytics a key feedback tool for even the casual player. With increased usage, our matchmaking capabilities help you get paired with a player of a similar skill set, making the game more intense and enjoyable. 

    Game Theory’s association with the likes of Phelps Academy and Rohan Bopanna is also a key offering for our users to not only access world-class centers but also enroll in coaching designed by the legends of the sport. 

    StartupTalky: How does Game Theory stay innovative and ahead in the sports technology space amidst rapid industry changes?

    Sudeep Kulkarni: In the ever-evolving landscape of sports technology, we try to maintain our innovative leadership through a proactive and adaptable approach. The company integrates cutting-edge technologies, including AI, ML, and wearables, ensuring users experience the latest advancements for an engaging sports journey. Agile development methodologies allow for rapid adjustments and updates, enabling us to swiftly respond to industry changes and user feedback. 

    Our recent acquisition of Matchday.ai will further help accelerate the timelines on some of our innovative technology offerings. 

    Collaborations with renowned sports figures and institutions contribute expertise, while user feedback and data analytics drive informed decision-making and feature development. Actively engaging with government bodies and staying compliant with regulations ensures long-term sustainability. With a forward-thinking vision anticipating trends like augmented reality overlays, Game Theory not only keeps pace with industry changes but also leads in shaping the future of sports technology, providing users with a dynamic and futuristic sports experience.

    StartupTalky: Are there specific features or updates geared toward user retention and satisfaction?

    Sudeep Kulkarni: Game Theory strategically incorporates a range of features and updates aimed at bolstering user retention and satisfaction. The infusion of gamified elements, including automated scoring, game highlights, and statistics, fosters an engaging and competitive atmosphere, encouraging habitual use. A rewards system with virtual badges and recognition adds a layer of achievement, incentivizing regular participation and skill improvement. Leaderboards and challenges contribute to community building, providing users with a sense of camaraderie and motivation for ongoing involvement. Personalized coaching programs, facilitated through collaborations with sports figures, enhance the user experience by catering to diverse skill levels. The agile development approach ensures regular updates based on user feedback, demonstrating responsiveness to user needs. Technological advancements, including AI and ML, contribute to the platform’s uniqueness, while active solicitation and integration of user feedback reinforce a user-centric focus. These collective efforts create a user-friendly and dynamic sports environment, promoting user satisfaction and fostering long-term engagement.

    StartupTalky: Looking ahead, what are Game Theory’s plans for expansion, both in terms of the user base and new features or games offered within the platform?

    Sudeep Kulkarni: Looking ahead, we envision significant expansion across various fronts in our plans. Our primary focus is on broadening the user base to reach a diverse demographic, spanning from children to adults. We aim to make sports more accessible to a wider audience, promote active participation, and foster a healthy lifestyle.

    We also aim to bring in a lot of additional features on both the app and the smart courts, elevating the user experience. Some of these developments will be brought about much earlier than anticipated, thanks to some of the strategic investments we have made in acquiring key assets and our hiring roadmap. 

    In terms of where Game Theory will be available to the users, our primary focus for 2024 will remain to create a stronger base in Bangalore by expanding to 200+ Badminton courts, 20+ Swimming pools & squash courts, and 40+ Tennis courts and football arenas.

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    StartupTalky: If applicable, how has any backing or mentorship from investors or industry experts influenced Game Theory’s journey?

    Sudeep Kulkarni: Early in our journey, we partnered with the Phelps Academy to bring swimming to our users. Our recent investors included Nithin Kamath of Rainmatter, who is a massive proponent of a healthy and active lifestyle, which is a great validation of our business and an enormous support for our roadmap. Another key investor in the recent round included Rohan Bopanna, who has not only brought in crucial capital to fuel our growth but also will partner with Game Theory to improve our tennis offering to our users. 

    StartupTalky extends its gratitude to Mr. Sudeep Kulkarni for dedicating his valuable time and generously sharing his insights with all of us.

    Explore more Recap’23 Interviews here.

  • Tech Innovator Padmakumar Nair: Ennoventure’s Quest to Eradicate Counterfeits and Redefine Brand Protection in It

    StartupTalky presents Recap’23, a series of in-depth interviews where we engage with founders and industry leaders to explore their growth in 2023 and their predictions for the future.

    The IT industry focuses on developing, implementing, and maintaining computer systems and software. It is essential for efficient data management, communication, and automation in modern businesses. Key areas include software development, hardware manufacturing, cybersecurity, cloud computing, and IT services. Rapid technological advancements mark the industry and play a crucial role in global digital transformation.

    In 2023, the global IT market reached $8852.41 billion, growing at a CAGR of 8.2% from 2022. The IT and BPM industries generated a combined revenue of $245 billion. India’s IT sector will contribute 10% to its GDP by 2025. In 2023, the domestic revenue of the Indian IT industry amounted to $51 billion, with export revenue reaching $194 billion.

    In a recent Recap’23 interview, we at StartupTalky had the privilege of connecting with Padmakumar Nair, Co-founder and CEO of Ennoventure. We conducted an in-depth analysis of Ennoventure, delving into its evolution, challenges, key learnings, and upcoming strategies. Our examination revealed how Ennoventure is spearheading innovation to transform the IT industry.

    StartupTalky: What service does Ennoventure provide? What was the motivation/vision with which you started?

    Padmakumar Nair: Ennoventure Inc. stands as a technology-driven leader specializing in covert brand protection solutions within multiple industries, including FMCG, automotive spare parts, and agrochemicals. Addressing the pervasive challenges of product counterfeiting across these sectors, Ennoventure offers a non-disruptive solution for verifying product authenticity without necessitating alterations to current package designs or printing procedures. Leveraging AI and cryptography, our anti-counterfeit technology provides seamless authentication through smartphones by embedding an imperceptible cryptographic signature onto the package.

    Looking ahead, our long-term vision revolves around combating the escalating challenges presented by counterfeiting across diverse industries. The rapid surge in digitalization, amplified online consumer shopping behavior, and subsequent payment habits have exacerbated the risks associated with counterfeit products in the market. While this digital shift has brought convenience to consumers, it has also heightened the prevalence of counterfeit goods in sectors like pharmaceuticals, FMCG, and automotive, particularly in regions such as India.

    Ennoventure recognized a critical gap in safeguarding product authenticity and intellectual property across sectors, prompting the development of patented solutions to address these vulnerabilities. Our mission remains rooted in offering robust protection against counterfeiting attempts, ensuring the integrity and legitimacy of products in an evolving market landscape.

    Ennoventure Inc. sprouted from a pivotal moment when Padmakumar, inspired by the alarming impact of malaria in Africa, envisioned a solution to combat counterfeiting. In 2017, while Shalini Nair managed her own business, Padmakumar approached her to initiate the establishment of Ennoventure. By August 2018, Shalini had submitted two US patent applications, both securing approval—one in November 2018 and the other in February 2019.

    Founded in 2018, Ennoventure aimed to be an innovative force crafting digital solutions for everyday challenges. Their primary focus centered on fortifying packaging and designs for seamless verification throughout the supply chain.

    Understanding the landscape intricacies, the founders engaged extensively with key stakeholders—from printers to heads of packaging, counterfeiting, and security divisions within major brands. Acknowledging the significance of no process alteration and the typical hurdles in technology implementation, they conducted a prototyping exercise in collaboration with a prominent pharmaceutical company.

    StartupTalky: What new services have been added in the past year? What is/are the USP/s of Ennoventure?

    Padmakumar Nair: Ennoventure has recently unveiled an advanced anti-counterfeit solution that promises to elevate brand protection efforts significantly. This new solution is designed to tackle the growing complexities of counterfeiting by integrating cutting-edge technology. By leveraging state-of-the-art advancements, Ennoventure’s solution offers a comprehensive approach to fortifying brand integrity.

    This offering marks a pivotal moment in the fight against counterfeit products, providing brands with a powerful tool to safeguard their reputation and consumers’ trust. The technology’s sophistication aims to create robust barriers against fraudulent activities, thereby enhancing legal strategies for brand protection. Ennoventure’s commitment to innovation reflects its dedication to addressing the evolving challenges of counterfeiting in the market, reinforcing its position as a leader in brand protection solutions.

    This technology’s key features include:

    • Proof of Location: Utilizes geolocation and timestamped photos to track counterfeit products, aiding in assessing their circulation duration for legal purposes.
    • Cost-Effective Solution: Minimizes litigation expenses by providing indisputable evidence, empowering brands to pursue legal actions confidently for favorable outcomes.
    • Timely Evidence: Timestamps on captured evidence are crucial in cases involving unauthorized production, especially by former partners, aiding in legal considerations.
    • Comprehensive Evidence: Combines photographic evidence with geographically based and time-stamped data, offering substantial proof for multiple cases without requiring on-site investments.

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    StartupTalky: How has the IT industry changed in recent years, and how has Ennoventure adapted to these changes?

    Padmakumar Nair: In response to the evolving landscape of consumer behavior, legislative frameworks, and technological advancements, Ennoventure has actively embraced these changes within the anti-counterfeiting and brand protection domains.

    • Technological Advancement – Amid rapid technological advancements, the fight against counterfeiting and the need for brand protection has expanded, presenting both new opportunities and challenges. The industry has become increasingly intricate and interconnected due to advancements in artificial intelligence and the proliferation of e-commerce platforms.

    Ennoventure’s Approach: To integrate cutting-edge technologies into our solutions, significant investments have been made in research and development. This enhancement enables us to more effectively detect and prevent counterfeit activities across the market.

    • Elevated Emphasis on Brand Image – In the face of discerning consumers, safeguarding brand reputation has gained significant prominence. The detrimental impact of counterfeiting on brand image has far-reaching consequences.

    Ennoventure’s Approach: Beyond merely detecting and halting counterfeits, our services encompass comprehensive brand protection strategies. Collaborating closely with clients, we tailor solutions to enhance brand integrity and fortify defenses against potential reputational damage.

    Padmakumar Nair: We employ a multifaceted approach to remain abreast of the latest trends and developments in our industry. Our strategy encompasses various sources and mediums, including:

    • Blogs and Articles: We regularly follow industry-specific blogs and articles from reputable sources, leveraging diverse perspectives and insights shared by experts and thought leaders.
    • Research Papers: Engaging with academic and industry research papers allows us to delve deeper into specific topics, accessing in-depth analyses and findings relevant to our field.
    • Market Study Reports: We meticulously study market reports and analyses, gaining valuable market intelligence, understanding emerging trends, and foreseeing potential shifts in the industry landscape.
    • Podcasts: We listen to industry-focused podcasts featuring discussions with experts and pioneers, offering nuanced insights and real-time discussions on relevant topics.

    By actively engaging with these diverse information channels, we ensure a holistic approach to staying informed about the latest advancements, emerging trends, and evolving dynamics within our industry. This comprehensive approach enables us to adapt, innovate, and make informed strategic decisions to remain at the forefront of our field.

    StartupTalky: What key metrics do you track to check Ennoventure’s growth and performance?

    Padmakumar Nair: We closely monitor several key metrics to gauge and assess our company’s growth and performance. These metrics include:

    • Growth Rate: This helps us measure the speed at which our company is expanding, providing insights into our market traction and overall progress.
    • Net Dollar Retention: This metric aids in understanding the ability to retain and expand revenue from existing customers, reflecting customer satisfaction and upselling potential.
    • Customer Lifetime Value (CLV): CLV is vital in determining the long-term value a customer brings to our business, guiding our strategies for customer acquisition and retention.
    • R&D Spend as a Percentage of Revenue: Tracking this ratio informs us about the commitment and investment in innovation, which is crucial for staying competitive and driving future growth.
    • Sales and Marketing Spend as a Percentage of Revenue: This metric provides insight into the efficiency of our sales and marketing efforts, ensuring optimal allocation of resources.
    • Payback Period: We monitor this metric to evaluate the time it takes to recoup the cost of customer acquisition, guiding our financial planning and investment decisions.

    Collectively, these metrics offer a comprehensive overview of our company’s growth trajectory, financial health, customer-centric focus, and future prospects, guiding our strategic decisions and ensuring sustained progress.

    StartupTalky: What were the most significant challenges Ennoventure faced in the past year, and how did you overcome them?

    Padmakumar Nair: Over the past year, our company encountered two significant challenges that required strategic planning and adaptability to ensure continued success. The first major obstacle was optimizing productivity and maintaining the highest output possible during the widespread shift to remote working. The second challenge involved navigating the complexities of fundraising in the current economic climate.

    The transition to remote work posed several hurdles, including the need to establish effective communication channels, maintain team cohesion, and address potential disruptions to workflow. To overcome these challenges, we implemented robust communication tools, such as video conferencing platforms and collaboration software, to facilitate seamless interactions among team members. Additionally, we introduced regular virtual meetings to ensure that everyone remained aligned with the company’s goals and objectives. By fostering a culture of transparency and open communication, we were able to mitigate the impact of remote work on productivity and maintain a strong sense of team unity.

    The second challenge involved fundraising in a climate marked by economic uncertainties. To overcome this hurdle, we undertook a comprehensive analysis of our financial position and adjusted our fundraising strategy accordingly. This involved refining our pitch to highlight the resilience and adaptability of our business model in response to the changing landscape. We also engaged in proactive communication with existing investors, keeping them informed about our strategies for navigating the challenges and showcasing our company’s value proposition. Furthermore, we explored alternative funding sources and strategic partnerships to diversify our financial support.

    StartupTalky: Good service is something everyone is talking about in the service industry. How do you ensure that your clients are happy?

    Padmakumar Nair: Our paramount goal is to instill in our customers the unwavering confidence that they are never alone in their journey. Our dedicated customer success and account management team diligently works to provide a robust support system, ensuring that our customers feel backed and supported at every step. We prioritize their peace of mind by fostering a relationship built on trust and reliability, where they can rely on us as a dependable partner, ever-ready, to assist them in navigating challenges and achieving their objectives.

    StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack that you pulled off.

    Padmakumar Nair: We leverage a wide array of marketing strategies, including LinkedIn ads, webinars, speakership opportunities, event participation, etc., with the purpose of increasing our brand awareness and amplifying our outreach to garner attention towards our unique, patented covert brand protection solutions. One notable achievement in our growth strategy has been the success of our ads based on real-life case studies. These ads have not only increased our visibility but have also proven effective in generating more leads.

    StartupTalky: Foreign clients- this is what most of the service-based companies are looking for. What has been your experience?

    Padmakumar Nair: Our company, headquartered in Massachusetts, USA, operates within the realm of Software as a Service (SaaS), catering to a diverse clientele across various sectors globally. Our international client base spans industries such as automotive, agrochemicals, and fast-moving consumer goods (FMCG).

    As a SaaS-based product company, our focus revolves around developing and delivering innovative solutions tailored to the unique needs of our clients within these sectors. Our technology enables us to provide scalable, efficient, and customizable brand protection solutions.

    The diverse nature of our clientele across different industries has allowed us to gain valuable insights into various market dynamics, challenges, and opportunities. This breadth of experience empowers us to adapt our products to meet the distinct requirements of each sector, ensuring we deliver tangible value and impactful solutions to our global client base.

    Our commitment to innovation, coupled with our SaaS expertise, allows us to remain at the forefront of technological advancements while continuously striving to exceed the evolving expectations of our international clientele.

    StartupTalky: What are the important tools and software you use to run Ennoventure smoothly?

    Padmakumar Nair: The entire ERP module of Zoho, that is, Zoho One, which we use extensively for all functions like marketing, sales, and HR. On the engineering side, we use Jira and Atlassian products.

    StartupTalky: What opportunities do you see for future growth in the IT industry in India and the world? What kind of difference in market behavior have you seen between India and the world?

    Padmakumar Nair: As businesses increasingly transition from traditional brick-and-mortar stores to online platforms, the risk of counterfeiting has surged. This shift presents an opportunity as more brands seek robust anti-counterfeit solutions. The advent of generative AI has exacerbated the ease of copying and producing fakes, necessitating advanced technologies to combat counterfeiting. Additionally, with the global market becoming more unified, there’s a convergence in market behavior between India and the rest of the world. The location of manufacturing and shipping has become inconsequential in this interconnected market landscape.

    StartupTalky: What lessons did your team learn in the past year, and how will these inform your future plans and strategies?

    Padmakumar Nair: Success isn’t merely about rapid expansion or lavish spending; it’s about achieving growth with capital efficiency. Numerous companies have faced bankruptcy due to cash depletion. The lesson learned from the past year emphasizes the importance of being capital-efficient: making decisions based solely on necessities and eliminating non-essential expenses.

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    StartupTalky: How do you plan to expand the customers, service offerings, and team base in the future?

    Padmakumar Nair: We have shifted our primary focus towards the US and European markets, actively targeting not only large enterprises but also small and medium-sized companies. Our strategic pivot involves a more inclusive approach, now catering extensively to SMEs as well. The core driver of our team’s expansion is aligned with customer growth, emphasizing a customer-centric approach to fuel our growth trajectory.

    StartupTalky: One tip that you would like to share with another service company founder?

    Padmakumar Nair: An untapped opportunity exists within the anti-counterfeit sector that holds immense potential for transformative technologies to combat counterfeit products effectively. Rather than adopting a ‘wait-and-see’ approach, many companies across industries can proactively tackle counterfeiting while safeguarding brand reputation and authenticity.

    Globally, the anti-counterfeit solutions market is projected to reach significant heights by 2025, estimated at $120 billion. Recognizing and integrating these technologies across sectors will fuel demand for innovative solution providers, presenting a substantial opportunity for entrepreneurs to contribute to addressing this global challenge.

    The approach we’ve undertaken aims to empower consumers through cutting-edge technology. Our solution not only prevents counterfeiting but also grants consumers easy access to comprehensive product information. By providing details such as product composition, potential side effects, and usage instructions, we ensure consumers have vital information readily available.

    The key lies in understanding the potential of leveraging advanced technologies to combat counterfeiting while prioritizing consumer empowerment and information accessibility.

    StartupTalky extends its gratitude to Mr. Padmakumar Nair for dedicating his valuable time and generously sharing his insights with all of us.

    Explore more Recap’23 Interviews here.

  • E42.ai: Animesh Samuel’s Visionary Journey in Redefining Enterprise Automation with No-Code AI

    StartupTalky presents Recap’23, a series of in-depth interviews where we engage with founders and industry leaders to explore their growth in 2023 and their predictions for the future.

    The AI industry is a rapidly evolving force that is advancing machine learning and automation. It is driving innovation and transforming various sectors globally. From personalized user experiences to data analysis, AI is reshaping the way businesses operate and adapt to the digital age. The integration of intelligent technology represents a fundamental shift in various industries like healthcare and finance.

    The global market for artificial intelligence was valued at $136.55 billion in the year 2022. It is projected to grow at a compound annual growth rate (CAGR) of 37.3% from 2023 to 2030 and is expected to reach an estimated value of $1,811.8 billion by 2030. By that time, AI is expected to contribute $15.7 trillion to the global economy, which is more than the current output of China and India combined.

    In a recent Recap’23 interview, we at StartupTalky had the privilege of connecting with Animesh Samuel, Co-founder and CEO of E42.ai. We investigated how E42.ai has been growing, overcoming challenges, learning valuable lessons, and planning for the future. Learn how their innovative approach is transforming the AI industry.

    StartupTalky: What service does E42.ai provide? What was the motivation/ vision with which you started?

    Animesh Samuel: E42.ai is a no-code Cognitive Process Automation platform to build AI co-workers that automate enterprise processes across functions—empowering humans and enterprises alike. From HR, marketing, and business development to finance, IT operations, and more—E42.ai’s AI co-workers are equipped to handle each process at a never-before speed and accuracy! E42.ai provides end-to-end automation to enterprises ranging from Fortune 500 companies to SMEs and startups across industries. By maximizing efficiencies and scalability while minimizing complexities and costs, E42.ai is disrupting the enterprise automation space to deliver seamless user experience across touchpoints. What sets E42.ai apart? High-impact simple solutions to complex problems—driven by simple, easy-to-deploy, and scalable technology.

    When we started in 2012, we were chasing a crazy dream—to teach machines how to understand and comprehend human language, something that was considered impossible back then. We aimed to transform businesses through digital innovation, boosting efficiency by automating enterprise processes at scale. The idea was to empower organizations to redirect their focus toward strategic initiatives and heightened productivity. We wanted to focus on the global adoption of cognitive automation, bringing its manifold benefits to businesses across the world.

    StartupTalky: What new features have been added in the past year? What is/are the USP/s of E42.ai?

    Animesh Samuel: We are working on a new version of our platform to reduce the creation, training, as well as maintenance time for an AI co-worker, enhance models for better accuracy, intelligent document processing (IDP) with layout as well as natural language understanding, and Large Language Models (LLMs) constrained within the enterprise context. Currently, we’re working on some very interesting generative AI features—leveraging LLMs for business applications as well as conditioning them for domain-specific conditioned behavior.

    The main difference between E42.ai and any other platform is what we call “All for one and one for all.” This means that every AI co-worker built on the platform can be clubbed with other AI co-workers built on the platform. For the enterprise, it means intelligence can be leveraged like never before. For e.g., based on the interaction of the AI Customer Care Executive, the AI Marketing Analyst can suggest changes in their campaign messaging. Or, based on the learnings from the AI Recruiter, AI HR exec, AI IT Operations Manager, etc., all catering to the same employees, the enterprise can better predict attrition, employee wellness, etc. The other USPs of E42.ai lie in the fact that it’s a no-code platform with multifunctional capabilities, provides an omnichannel interface, and is extremely easy to manage, unlike other technology-specific platforms that are heavily dependent on coding. 

    To elaborate—being a no-code platform, E42.ai requires no scripting and can be quickly deployed. Its ability to process both structured and unstructured data adds to its uniqueness, which also comes from the fact that each AI co-worker built on the platform can co-work with other AI co-workers as well as with humans. With drag-and-drop APIs, the flexibility to be deployed on-prem or on any cloud makes it extremely easy to manage and scale use cases on the fly. With a well-thought-through partnership network in place, E42.ai equips SIs and OEMs with AI capabilities and enables them to compete with industry leaders.

    StartupTalky: How has the AI industry changed in recent years, and how has E42.ai adapted to these changes? Are there specific regulatory or technological shifts that have influenced your marketplace strategy?

    Animesh Samuel: Over the past few years, AI-led enterprise automation has undergone significant evolution. At the outset, technology like RPA or Robotic Process Automation was used to automate simple, repetitive tasks, such as data entry and report generation. As AI has advanced, so has its ability to automate more complex business processes. Today, AI-led Cognitive Process Automation (CPA) can automate a wide range of tasks, from customer service to supply chain management. Furthermore, this technology can be integrated into enterprise systems, allowing for more seamless and efficient automation.

    In addition, the proliferation of cloud computing has made it easier for companies to adopt AI automation solutions without the need for significant upfront investment. Looking ahead, it is likely that AI-led enterprise automation will continue to evolve as businesses seek to optimize their operations and stay competitive in an ever-changing landscape.

    We’ve invested significantly in research and development to ensure that our AI solutions remain relevant to the dynamic needs of our clients. We’ve closely monitored and adapted to evolving regulations, ensuring that our practices align with compliance standards.

    In terms of marketplace strategy, we’ve been agile in responding to trends and customer demands. Our approach involves a blend of flexibility and strategic foresight, allowing us to pivot when necessary and capitalize on emerging opportunities. This adaptability has proven crucial in maintaining a competitive edge in a rapidly changing landscape. By staying ahead of industry changes, we position ourselves not just as a participant but as a leader, shaping the future of AI and its applications in the business realm.

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    Animesh Samuel: Firstly, we maintain active engagement with industry publications, research papers, and reputable news sources. By regularly reviewing and analyzing the latest articles and reports, we gain valuable insights into emerging technologies, market trends, and evolving customer needs.

    Networking is another key component of our strategy. Attending industry conferences, seminars, and workshops provides us with the opportunity to connect with thought leaders, experts, and professionals. These interactions not only broaden our perspective but also enable us to forge meaningful partnerships and collaborations.

    We also foster a culture of continuous learning within our organization. This involves encouraging our team members to participate in training programs, webinars, and online courses. By investing in the professional development of our workforce, we ensure that our collective knowledge base remains cutting-edge.

    StartupTalky: What key metrics do you track to check E42.ai’s growth and performance? How do you use these metrics to identify areas for improvement and guide strategic decisions for future growth?

    Animesh Samuel: We closely monitor key performance indicators such as revenue growth, customer acquisition costs, usage patterns, retention rates, and product adoption. These metrics guide us in pinpointing areas for improvement, informing strategic decisions, and ensuring sustained growth. By analyzing these data points, we can swiftly adapt strategies, optimize operations, and align our focus with market demands, fostering continuous improvement and future expansion.

    StartupTalky: What were the most significant challenges E42.ai faced in the past year, and how did you overcome them?

    Animesh Samuel: Over the past year, we encountered several hurdles that demanded strategic finesse and innovative solutions. One notable challenge was navigating the hiring process; it was a bit tricky to find the right people for our tech and sales teams among a lot of applicants. Capturing the attention of the right audience posed another significant hurdle in our marketing endeavors. Selling our products also had its challenges—we had to really understand what our customers liked and use smart sales techniques.

    Another thing we worked on was making sure everyone in the company knew who was responsible for what—establishing clear process ownership across the organization. Despite these challenges, our team tackled them head-on, coming up with clever solutions, adjusting our plans, and staying strong as a team.

    StartupTalky: Trust among all the stakeholders is very important for a marketplace. How do you ensure it?

    Animesh Samuel: We prioritize transparency and open communication to build and maintain trust. We implement robust security measures to protect user data and financial transactions, fostering a secure environment. We actively seek and value feedback from our users. Regularly updating and improving our services based on user input demonstrates our commitment to meeting their needs and concerns. We facilitate clear terms of service, fair dispute resolution mechanisms, and reliable customer support to address any issues promptly. By consistently delivering on our promises and creating a positive user experience, we aim to cultivate trust among all stakeholders in our marketplace.

    StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack that you pulled off.

    Animesh Samuel: We believe in the dynamic evolution of our marketing strategy in tandem with the ever-changing digital landscape. Our approach is a spectrum of tactics, ranging from targeted paid ads on platforms like LinkedIn and Google to the personalized touch of email marketing. We place significant emphasis on a robust off-page and on-page SEO strategy, ensuring our online presence is optimized for maximum visibility.

    Moreover, we actively engage in industry events, fostering meaningful connections and staying ahead of trends. It’s this holistic approach that enables us to not only adapt but thrive in the competitive digital space. Our growth hack lies in the synergy of these elements, creating a comprehensive and effective marketing strategy that resonates with our audience and keeps us at the forefront of innovation.

    StartupTalky: Keeping up with supply and demand is important. How do you keep both in order while ensuring a seamless experience for users?

    Animesh Samuel: Our R&D team at stays at the forefront of AI research, encouraging innovative ideas and experimentation with various architectures, training methodologies, and datasets. This iterative process allows us to identify the most effective solutions for specific challenges and continuously refine our models.

    In our development process, we’ve introduced new evaluation benchmarks to assess the capabilities of emerging models more accurately. Leveraging the latest hardware, including GPUs and TPUs, is integral to our strategy, enabling us to scale up training and inference processes efficiently.

    Moreover, our commitment to compliance is reflected in our autoscaling PaaS cloud, which meets data residency requirements. This cloud-native infrastructure is also deployable on-prem or in private clouds, ensuring adaptability for sectors with specific compliance needs, such as BFSI and healthcare.

    Within our architecture, proprietary multimodal networks and LLM models for generative AI, facilitated through LLMOPs, play a crucial role. The platform’s continuous enhancements bring about highly scalable, human-level cognition, covering a range of functionalities like image and document understanding, conversational AI, intelligent extraction, audio-video transcoding, and face recognition. What sets us apart is our user-friendly, no-code interface, empowering users to configure AI co-workers effortlessly. Through these innovations, we not only meet supply and demand challenges but elevate the overall user experience with a platform that evolves at the forefront of AI capabilities.

    StartupTalky: What are the important tools and software you use to run E42.ai smoothly? Are there any emerging technologies or tools you are considering integrating into your marketplace operations?

    Animesh Samuel: We rely on a robust set of tools and software for the smooth running of our operations—for example, Python serves as a cornerstone for our development, providing versatility and efficiency in crafting innovative solutions. MongoDB plays a pivotal role in managing our data, offering scalability and flexibility in handling diverse information.

    For large-scale data processing, we leverage the capabilities of Hadoop, enabling us to efficiently analyze and derive insights from extensive datasets. Collectively, these tools contribute to the efficiency and reliability of our operations, fostering a streamlined business environment. Exploring the integration of advanced analytics tools, AI-driven platforms, and blockchain solutions is part of our forward-looking strategy and we’re committed to staying at the forefront of technological advancements to ensure the seamless operation of our business.

    StartupTalky: What opportunities do you see for future growth in the AI industry in India and the world? What kind of difference in market behaviour have you seen between India and the world?

    Animesh Samuel: Of the many technologies with the potential to deliver significant value in the near future, AI seems to be at the top of the list. AI can potentially add US$957 billion, or 15 percent of India’s current gross value, in 2035. It is believed that shortly, the focus will shift more toward AI-enabled transformation that solves more significant business problems with enterprise-focused solutions. Be it in the area of IT services, marketing, sales, operations, legal, or finance—through AI; enterprises can predict functionalities like the time of errors, get ROI in real-time, drive revenue, generate leads, and provide a unified experience to customers.

    Market behavior between India and the rest of the world exhibits nuances shaped by regional dynamics, regulatory frameworks, and industry maturity. While the global market showcases a mature landscape with widespread AI adoption, India is in the phase of rapid adoption and experimentation. Understanding these distinctions is crucial for tailoring AI solutions to meet the unique needs of each market. As AI continues to evolve, bridging these gaps and fostering collaboration on a global scale will be pivotal for maximizing growth opportunities and driving innovation across borders.

    StartupTalky: What lessons did your team learn in the past year, and how will these inform your future plans and strategies?

    Animesh Samuel: One prominent lesson revolves around the importance of agility and adaptability in the face of unforeseen challenges. This reinforces our commitment to building a resilient organizational structure that can swiftly pivot when required. Fostering a strong team culture, even in virtual settings, has been our focus for the past few years. Our future plans include reinforcing collaborative tools, communication channels, and development initiatives to ensure our team remains cohesive and adaptable.

    Crucially, as we look ahead, our organization is adopting a ‘sales-first’ approach in the coming year. Recognizing the paramount importance of driving revenue, we are aligning our strategies to prioritize sales initiatives. This approach entails leveraging data-driven insights, refining our sales processes, and equipping our sales teams with the tools and resources needed to thrive in a competitive market.

    StartupTalky: How do you plan to expand the customers, service offerings, and team base in the future?

    Animesh Samuel: There are a bunch of things we are focussing on—our partner ecosystem, a ‘land and expand’ strategy, we have a marketplace with ready-to-hire AI co-workers that are easy to deploy and deliver significant value to the end customer in terms of cost saving, insights, and enhanced user experience. We’re using the marketplace to land accounts, and once the enterprise is a customer, they can hire other AI co-workers. Partners are able to get certified and build AI co-workers for their domain of interest and list it on the marketplace for selling by themselves and other partners.

    We’re also prepping for the series B of funding and are actively working on expanding our footprint globally and in the US in particular. While we’re building an on-filed team in the States as we speak, one of our co-founders will be co-located in India and the US.

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    StartupTalky: One tip that you would like to share with another marketplace company founder?

    Animesh Samuel: The marketplace can get tricky as it needs a flywheel of offerings and buyers. At E42.ai, we try to ensure that there are enough AI co-workers built by our partners that our customers can “hire.” We see E42.ai helping create a few Unicorns in the AI era. Our platform is open to startups and entrepreneurs to come and build solutions in AI catering to consumers and enterprises worldwide. We see ourselves going IPO and bringing on great leaders to drive the enterprise to the next level by making enterprises all over the world intelligent!

    One tip for founders—come build for the future, and we’ll help at every step of the way.

    StartupTalky extends its gratitude to Mr. Animesh Samuel for dedicating his valuable time and generously sharing his insights with all of us.

    Explore more Recap’23 Interviews here.

  • Revolutionizing FinTech: Sarvjeet Virk Unveils Finvasia’s Journey, AI Integration, and Global Expansion Plans

    StartupTalky presents Recap’23, a series of in-depth interviews where we engage with founders and industry leaders to explore their growth in 2023 and their predictions for the future.

    The fintech sector, a dynamic fusion of finance and technology, is transforming conventional banking and financial services. Digital payments, blockchain, and robo-advisors are changing the way we handle financial transactions. Emerging companies in this field concentrate on delivering easy-to-use interfaces, streamlined transactions, and tailored financial services.

    The worldwide online trading market is projected to grow at a CAGR of 6.4%, reaching approximately $13.3 billion in 2026 from $10.21 billion in 2022. Additionally, the payments industry aims for a transaction volume of $100 trillion and $50 billion in revenue by 2030.

    In a recent Recap’23 interview, we at StartupTalky had the privilege of connecting with Sarvjeet Virk, Co-founder and MD of Finvasia. We delved into how Finvasia’s innovation is reshaping the fintech landscape, examining its progress, challenges, key insights, and future strategies.

    StartupTalky: What service does Finvasia provide? What was the motivation/vision with which you started?

    Sarvjeet Virk: Finvasia, founded by my brother Tajinder and me, is a technology-driven company with Shoonya as our flagship brand in India. Shoonya, our innovative multi-asset investment platform, follows a zero-commission model, eliminating fees such as commissions, clearing, and technology charges. Our commitment to affordability and accessibility led us to break away from traditional brokerage fee structures. Despite the challenges, our tech-first approach enabled us to achieve a zero-trading experience efficiently.

    A decade ago, during our time in the US, we identified challenges in the Indian capital market, particularly high brokerage fees for foreign investors. This realization prompted us to establish Finvasia, aiming to revolutionize the financial services sector with cutting-edge, real-time solutions for investors of all experience levels. Subsequently, Shoonya was developed to address these challenges.

    Coming from backgrounds in both technology and finance, we envisioned leveraging technology to simplify finance for everyone. Initially operating as a Foreign Portfolio Investor (FII) in India, Finvasia’s rapid growth led to the creation of Shoonya. By identifying market pain points, we designed Shoonya as a true-zero brokerage platform, making trading accessible and affordable for investors and traders.

    StartupTalky: What new services have been added in the past year? What is/are the USP/s of Finvasia?

    Sarvjeet Virk: We are dedicated to enhancing our services through the integration of artificial intelligence (AI) to offer seamless investing and trading experiences. In line with this commitment, we introduced ‘I Know First’ in 2023 – an AI-powered tool empowering users with insights like signal analysis on a dataset of 1,500 Indian stocks and historical data. This tool provides access to AI-generated forecasts, along with features such as Colour-Coded Signals, Instant Heatmaps, Wave Trend Predictions, and Performance Predictions, enabling well-informed decisions.

    Traditionally, comprehensive data and insights were accessible only to seasoned professionals, but Shoonya is changing the game by making these available to retail investors. This democratizes the trading process, thanks to the incorporation of cutting-edge technologies like AI and ML for an enhanced trading experience.

    Furthermore, Shoonya stands out as the only true-zero brokerage platform in India. As a clearing and trading member, we offer the lowest cost to trade for retail investors. With approximately 16 services provided at no charge, including account opening and maintenance, we ensure transparency without hidden fees. This distinguishes us significantly from the competition, as users are not burdened with fees for each transaction.

    Sarvjeet Virk: Staying informed about the latest trends and developments within the industry is crucial. From newspapers and news channels to social media platforms, I rely on different channels to stay up-to-date on emerging trends. I keep a close eye on reports that delve into past reviews and future projections, particularly on the financial market, capital market, and technology. Staying proactive keeps me well-informed and prepared to navigate the dynamic landscape. Also, I spend time on various Industry reports that give current and future perspectives.

    StartupTalky: What were the most significant challenges Finvasia faced in the past year, and how did you overcome them?

    Sarvjeet Virk: In 2023, we navigated through a year of challenges and opportunities. While it was generally a successful year for us, we faced an unexpected technical issue on our trading platform in April. Thanks to the quick response from our technical team, we promptly addressed and resolved the issue. In line with our commitment to providing an exceptional customer experience, we covered losses totaling Rs 3 crore. Our top priority remains ensuring customer satisfaction and maintaining their trust. This action reflects our unwavering dedication to our vision and brand values.

    StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack that you pulled off.

    Sarvjeet Virk: Our marketing approach aligns with SEBI’s advertising guidelines for the finance sector, ensuring transparency and empowering users to make informed decisions. With a primary focus on digital channels, we effectively utilize social media and various platforms to engage diverse user groups, resulting in substantial growth. In November, we experienced a significant surge in new users, consistently ranking among the top 20 brokers for adding active clients monthly. The year 2023 marked an impressive 150% year-on-year growth attributed to our impactful digital marketing strategies.

    To further enhance user knowledge, we regularly share educational and informative content on our social media channels. Additionally, we are in the process of establishing an education portal on our platform catering to both beginner and advanced users.

    StartupTalky: What opportunities do you see for future growth in the fintech industry in India and the world? What kind of difference in market behavior have you seen between India and the world?

    Sarvjeet Virk: We witnessed a notable rise in the prominence of artificial intelligence (AI) in 2022, and its influence continued to grow globally in 2023. Looking forward to 2024, we anticipate that AI will evolve into a mainstream phenomenon, with a diverse range of applications becoming more prevalent. In the upcoming year, a significant development is expected in the integration of AI across various regional languages, aiming to achieve genuine last-mile reach. While complete coverage may be an ambitious goal, I believe initial steps will be taken to make this vision a reality.

    The market dynamics in India have undergone a noticeable shift, especially in terms of capital market participation. Traditionally, there was a hesitancy among Indian individuals and businesses to actively engage in the capital markets. However, internet accessibility has brought a significant change in this trend. The widespread availability of online platforms has empowered more people in India to explore and participate in capital markets, marking a departure from past reservations.

    Substantial differences emerge when comparing the capital market participation between India and other global players like China and the United States. As of 2023, the United States dominates the world stock market, accounting for nearly 60% of its total value, followed by Japan and the United Kingdom. In contrast, India represents a relatively modest 1.8% of the total global equity market value. At Shoonya, we are working towards enabling more users to participate in the capital market.

    StartupTalky: What lessons did your team learn in the past year, and how will these inform your future plans and strategies?

    Sarvjeet Virk: The introduction of I Know First on our platform has garnered a positive response from users, highlighting its value. Recognizing the pivotal role AI will play in the near future, our office is currently experiencing a significant surge in AI-related initiatives. We’ve proactively initiated group learning sessions for the entire team, immersing them in the vast potential of AI. The enthusiasm within the team is palpable, and this collaborative learning approach has rapidly enhanced our understanding and application of AI in real-world scenarios. Beyond being educational, it’s an engaging and thrilling journey for all of us.

    StartupTalky: How do you plan to expand the customers, service offerings, and team base in the future?

    Sarvjeet Virk: Finvasia has recently achieved significant milestones, obtaining an NBFC license in India and an investment bank license in Mauritius. These licenses are crucial for our ultimate goal of financial inclusion. Our proactive efforts in the past year involved developing new products around these licenses, although specific outcomes are still in progress. We are working towards building a global business from India, and international licenses play a crucial role in this strategy.

    Additionally, our focus on AI goes beyond the predictive feature. We’re actively exploring additional ways to leverage AI to enhance the user experience. It ranges from enhancing onboarding journeys to in-app features. I’d like to save the details for when the features are live on the platform. 

    Another notable achievement is the establishment of Finvasia’s Mumbai office, complementing our existing base in Chandigarh. Our presence in the financial hub of the country aligns with a long-standing aspiration and contributes to our overall strategy for growth and expansion. As we look ahead, our focus remains on expanding our customer base, enhancing service offerings, and strengthening our team to further solidify Finvasia’s position in the financial landscape.

    StartupTalky: One tip that you would like to share with another service company founder?

    Sarvjeet Virk: There isn’t a one-size-fits-all formula for building a successful business. My suggestion to a fellow founder would be that what worked for others may not be the ideal path for you. Reflecting on our own experience, many doubted the feasibility of establishing a successful FinTech firm in a smaller city like Chandigarh. However, we remained steadfast in our convictions and have achieved considerable success. The essential takeaway is to ignore external skepticism, concentrate on your unique journey, and rely on hard work, determination, and learning from mistakes to navigate the path toward your goals.

    StartupTalky extends its gratitude to Mr. Sarvjeet Virk for dedicating his valuable time and generously sharing his insights with all of us.

    Explore more Recap’23 Interviews here.

  • Revolutionizing Trade Finance: Roshan Shah’s VoloFin Takes the Lead in Fintech Factoring Solutions

    StartupTalky presents Recap’23, a series of in-depth interviews where we engage with founders and industry leaders to explore their growth in 2023 and their predictions for the future.

    The fintech industry, a dynamic blend of finance and technology, is revolutionizing traditional banking and financial services. Digital payments, blockchain, and robo-advisors are reshaping how we manage money. Startups in this sector focus on providing user-friendly interfaces, efficient transactions, and personalized financial solutions. The industry’s rapid growth is fueled by innovations like peer-to-peer lending, contactless payments, and mobile banking.

    India’s fintech sector is set for substantial growth, with a projected $1.3 trillion Total Addressable Market by 2025. By 2030, Assets Under Management and Revenue are expected to reach $1 trillion and $200 billion, respectively. The payments landscape aims for impressive figures, targeting a transaction volume of $100 trillion and $50 billion in revenue by 2030.

    In a recent Recap’23 interview, we at StartupTalky had the privilege of connecting with Roshan Shah, Co-founder and MD of VoloFin. We explored how VoloFin’s innovation is revolutionizing the fintech industry by analyzing its development, hurdles, insights, and future strategies.

    StartupTalky: What service does VoloFin provide? What was the motivation/vision with which you started?

    Roshan Shah: We are an industry-first comprehensive Fintech platform, providing end-to-end solutions in the domains of factoring and supply chain financing. Traditionally, this business was done by banks. Even today, they continue to work but provide services only to large clients. Moreover, the cost of compliance and acquisition is extremely high for the banks. This has opened up opportunities for FinTechs to step into the picture. Some Fintech companies are operating in the lending business and are acting as a substitute for banks by providing financing to borrowers. However, at VoloFin, we are uniquely positioned as both a lender and a platform where even banks can participate in the factoring business, and we strive to provide complete end-to-end solutions. 

    We started with a clear motivation to support the platform’s growth by providing the business with much-needed trade finance, which otherwise is a struggle for most of the organizations. Our idea of creating an end-to-end platform was to provide borrowers with quick and easy access to trade finance and at the same time allow banks to participate and grow their business. Our in-house proprietary tech platform is the core foundation of our platform, empowering us to play the role of both a lender and a platform, facilitating the banks to partner with us, and offering factoring as a ready solution. We offer factoring solutions delivered through a next-gen platform that digitally manages customer onboarding, KYC, credit, compliance, documentation, buyer approvals, transaction handling, disbursement, monitoring, collection, and credit insurance wrap. The lending frameworks are customized based on the lender’s credit guidelines and focus.

    We have already onboarded various lenders on our platform, including banks and funds and are in the process of onboarding other banks, which will benefit significantly from partnering with us than doing it themselves. They will benefit in terms of cost, effort, efficiency, TAT, and having a solid credit framework provided by us. 

    Our endeavour is to revolutionize lending across industries, from SMEs to large corporates. We further intend to spread awareness about factoring through different initiatives. We are also aiming to facilitate easy access to capital with a seamless blend of expertise and technology. We envision emerging as the most reliable, trusted, and largest Fintech for borrowers and banks in the times to come. 

    StartupTalky: What new services have been added in the past year? What is/are the USP/s of VoloFin?

    Roshan Shah: We are the industry’s first comprehensive invoice and supply chain financing platform, providing end-to-end solutions ranging from origination and collection to credit protection with insurance to platform lenders. Additionally, we provide an array of services for our clients (suppliers) and lenders, whether it is protecting them against buyer non-payment risk, providing them with collateral-free financing, and best-in-class in-house proprietary tech platform that offers full-stack supply chain solutions to lenders and banks; or ensuring quick supplier KYC and compliance through extensive integration, ability to underwrite buyers globally, and providing framework-based lending models with banks. 

    We provide fast and easy access to funds, as well as non-recourse and collateral-free financing to our clients. We take the buyer default risk upon ourselves and provide funding to suppliers over and above their existing banking limits. This way, they are relieved from the payment-related hassle and can grow their business, take more orders, and increase their production capacity. 

    Why do banks partner with VoloFin?
    Business Model – Unlike any other platform providing end-to-end solutions ✅
    Credit Protection – SandP ‘A’ and above global credit insurer ✅
    Best-in-class tech platform ✅
    Flexible fund deployment structure/framework ✅
    Proven with other banks onboard ✅
    Experienced and strong team ✅
    High origination capabilities ✅
    Quick KYC, onboarding, and underwriting (supplier as well as buyer) ✅

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    Roshan Shah: Today, the market is highly competitive, and staying abreast with the latest industry trends and developments is critical to success. Keeping a tab on the recent government regulatory policies to adapt business as per the ongoing changes is the key to scaling the business. Additionally, monitoring the emerging technologies, products, or services in the industry keeps us on the right track. Actively participating in industry events and conferences is also essential, as they provide networking opportunities and insights about the latest emerging trends and technology. 

    Staying in touch with industry peers and indulging in meaningful conversations with them enables us to understand the market better and build strategies for business growth. Moreover, a strong network of our channel/strategic partners keeps us abreast with market and industry updates as well. Staying connected with our clients also gives us good insights into industry developments.

    StartupTalky: What were the most significant challenges VoloFin faced in the past year, and how did you overcome them?

    Roshan Shah: In the past year, I feel the increase in the interest rates has posed a challenge to us in maintaining the rates we offer to the clients. While it was not easy, we focused on onboarding more lenders with lower costs of capital to ensure we could service our clients better without having them face the direct impact of increased rates. We sought an opportunity in this challenge, and it motivated us to strive for better client solutions, which was and is well appreciated by them as we stood by them in times they needed us most.

    StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack that you pulled off.

    Roshan Shah: In today’s social media-driven world, leveraging social networking platforms is a key component of the new-age marketing strategies. Hence, we also use the channels of content marketing and email marketing to reach our target audiences effectively. Additionally, knowledge sharing through emails and brochures with our existing clients and prospects helps build strong connections with them. We also try to participate in various industry events and seminars, and this strategy gives us visibility and helps us establish a strong brand reputation in the market. 

    StartupTalky: What opportunities do you see for future growth in the fintech industry in India and the world? What kind of difference in market behavior have you seen between India and the world?

    Roshan Shah: The Fintech industry in India has evolved and brought the potential of banking to the non-banking or under-banked population as well. The Digital India initiative with the government’s support, has changed the face of India on the global front. It provides easy financial facilities and services, along with growth opportunities. 

    The inclusion of mobile wallets, digital payment gateways, blockchain, and platform-based transactions has opened avenues for emerging and established Fintech companies. Market behavior has transformed with mobile wallets and UPI-based payment gateways taking center stage in the financial landscape. This has pushed Fintech companies to provide financial solutions and easy credit line services to SMEs, MSMEs, and individual consumers. If we draw a comparison, the Indian government supports Fintech companies with a more stable and mature set of regulations than the other markets. 

    We are witnessing increased client awareness in our Industry in India. The acceptance of companies using factoring is growing significantly. The companies are now using the product to their advantage, given it is quick, easy, collateral-free, and is an additional source of trade finance. Factoring is a big industry in most developed economies, but now the tech-driven trade finance FinTechs are gaining more traction in those markets.

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    StartupTalkyDevashish Shrivastava

    StartupTalky: What lessons did your team learn in the past year, and how will these inform your future plans and strategies?

    Roshan Shah: We have a very strong and experienced in-house team that is well-informed and updated with industry trends, future expectations, etc. The real learning as such would be to continue to keep our focus on the clients and be solution-oriented, as not always the same product applies to all.

    StartupTalky: How do you plan to expand the customers, service offerings, and team base in the future?

    Roshan Shah: We have a robust in-house origination team, which we are continuing to expand. We have a mapped future talent pool base that we have planned to onboard in the coming months. 

    We are already offering additional solutions to clients with our trade expertise, whereby certain transactions are trade-supported if not financed directly, like CAD payment terms, etc. We will be making a formal announcement of these solutions later in the year while we continue to execute some transactions currently.

    StartupTalky: One tip that you would like to share with another service company founder?

    Roshan Shah: Building a strong rapport with your stakeholders is crucial for your success. And to establish meaningful, long-lasting relationships, trust and transparency are the most important factors.

    StartupTalky extends its gratitude to Mr. Roshan Shah for dedicating his valuable time and generously sharing his insights with all of us.

    Explore more Recap’23 Interviews here.