The Indian sports tech market is expected to grow from USD 1.2 billion in 2022 to USD 3.5 billion in 2027. In this industry, a company making a great name for itself is Push Sports.
Push Sports is one of the fastest-growing sports-tech companies in India. The company is known for helping children learn sports better and making safe places for them to play.
In this article, let’s learn more about Push Sports, its founders, journey, business and revenue model, funding, and more.
Push Sports is one of the fastest growing sports-tech companies in India, and in a short span has managed to transform sports learning for over 6000 children across 20+ locationsand transformed over 2 lakh square feet area into safe play arenas across 65+ projects. The company also has over 3000 active pay-to-play customers across its locations. A full-stack, sports solutions company, Push Sports is on a mission to empower individuals and educational institutions, world-class sports education programs with a vision to make India – a sporting superpower.
Established in 2016, Push Sports started as a cricket academy and by 2022 transformed into an end-to-end multi-sports management solutions brand. The company is driven by a dynamic team of over 100 passionate sports lovers and is backed by leading investors from across the world – including Beyond Seed, Ah!Ventures, PokerBaazi and most recently, Piyush Bansal, Founder, Lenskart and Vineeta Singh, Co-Founder, Sugar Cosmetics in Shark Tank India Season 3.
Push Sports – Industry
Grassroots sports is USD 10 Bn market in India and Push Sports is broadening it by creating the necessary distribution through their network of sports arenas. They feel it’s not a winner-take-all market and they want to develop digital tools and processes that regional players can use to improve the level of service delivery, especially in the sports education space. They see that this industry will develop into a massive employment generator in the next 10 years as the entire ecosystem is getting catalysed by Govt initiatives, private investment and changing consumer preferences.
Push Sports – Founders and Team
Puru Singh, Nitin Pahuja, and Mukul Grover – Co-Founders of Push Sports
Puru Singh, Co-Founder is a former state cricketer from New Delhi who quit his job in Air India to start Push Cricket in 2016-17. Nitin Pahuja, Co-founder of Push Sports, grew up in a cricket-loving family was working in a top bank when he met Puru during a cricket match and recognizing the potential impact of Push Sports in filling the gaps in sports education, Nitin became an investor in the venture.
Over time, as they witnessed the increasing demand for Push Sports services, Nitin roped in Mukul Grover (Co-Brother in law) as the third co-founder and also transitioned from his corporate role to join Push Sports full-time in 2020. Since then, three of them are driving the success story of Push Sports where Puru leads the core sports education business, Mukul drives the infrastructure and franchise business and Nitin leads the finance and investor relations function. They have built a team of 80+ coaches and sports professionals who are passionate about transforming grassroots sports and dedicated towards Push Sports’ vision of making India, a sports superpower.
Push Sports – Startup Story
The teams’ deep-rooted love for sports sparked a profound passion of building a business around it. Reflecting on their personal experiences, they identified a significant gap in the guidance and opportunities accessible to young athletes in India. This realization served as the impetus for establishing Push Sports. Driven by this aspiration, the team embarked on a mission to bridge the gap in sports education at the grassroots level. The business started as Push Cricket in 2016 with a cricket academy and then transformed into a complete sports solution company by 2022.
Push Sports – Vision and Mission
Push Sports’ mission is to work with educational institutions and individuals to catalyse their sporting journey and to build sports programs that can help catalyse India’s growth into a sports superpower.
Push Sports – Name and Logo
Push Sports Logo
“India’s New Playground” is an assertive expression of confidence and zeal of the new India that is ready to compete with the best. Push Sports has a vision to make India a sports super-power and that journey starts from the playgrounds at the grassroots level. But unlike playgrounds of the earlier days, Push Sports Arenas are world-class, safe and bring together a potent ecosystem of top-notch sports training, competitive growth and recreational interventions. Push Sports arenas are the cradle for talent and altars for bringing about fitness revolution with sports. That’s why they are Push Sports. India’s new playground.
Push Sports – Product/Services
Push Sports, offers a comprehensive full-stack sports solution aimed at revolutionising sports education in Schools and recreational sports for young adults and Corporates. Their product/service includes tying up with schools to develop and maintain professional-level Infrastructure, training, guidance, and opportunities for students. Push Sports develops sports infrastructure, runs sports programs, and designs sports curriculum tailored to each school’s needs. With a team of over 80 coaches covering 10+ sports, they offer structured programs that cater to diverse interests and skill levels.
Push Sports’ innovative approach addresses several key problems in sports education, including the lack of professional guidance and infrastructure in schools, limited opportunities for students to explore various sports, and the need for a structured and comprehensive sports curriculum. Their unique selling proposition lies in their ability to provide end-to-end solutions, from infrastructure development to program operation and monetization.
One of Push Sports’ notable innovations is its use of technology to enhance the sports education experience. They employ advanced assessment tools to track students’ progress and tailor training programs accordingly. Additionally, Push Sports utilises technology to support its operations, including managing infrastructure bookings, coordinating coaching schedules, and facilitating online registration for programs. By leveraging technology, Push Sports ensures efficiency, effectiveness, and scalability in delivering its services to over 6000 students across various schools.
The business model of Push Sports consists of three primary units. Firstly, they undertake Engineering, Procurement, and Construction (EPC) projects for schools, where Push Sports designs, procures and constructs sports infrastructure.
Secondly, Push Sports operates a sports education unit within schools, collaborating with Physical Education (PT) teachers to design tailored sports programs. Additionally, they offer after-school sports programs, utilising the time after school hours (3 to 7 PM) for academic operations and encouraging students to participate in sports activities. Hyper-local children are also welcome to join the after-school academy.
Lastly, Push Sports generates revenue through pay-to-play bookings for corporates on weekends and weekdays after the after-school academy hours.
Pricing for EPC projects varies based on project scope and duration of lease agreements. Revenue from sports education programs may involve a mix of fees from schools and after-school program participants. Pay-to-play bookings for corporates typically follow an hourly pricing model, with profit margins dependent on operational costs and facility utilisation rates. Commission structures may vary based on partnerships with schools and corporate clients.
Push Sports – Launching Company Strategies
Working with academic institutions helped them significantly as they got access to a captive audience to pitch their services to. They have undertaken minimal marketing till now and most of their success has been due to word of mouth which has only been possible because of their team of 80+ coaches leading with execution with precision.
Push Sports – Challenges Faced
They have been able to convert their challenges into opportunities. Example:
They did a complete rethink during Covid and came back stronger by covering over 10+ sports and not just cricket opening a much larger market for themselves.
They have been able to focus on both growing their arenas and maximizing capacity utilization across operational arenas by focusing on professional and recreational sports simultaneously
They have built an extremely strong pool of coaches who are trained and ensure stickiness for the students
They are not just a strong coaching academy, they are a full-stack solution providing infrastructure, training and competitive exposure.
Push Sports Infrastructure
Push Sports – Funding
Date
Stage
Amount
Name
Feb 19, 2024
Seed Round
80 Lacs
Piyush Bansal & Vineeta Singh
Push Sports – Competitors
Some of their Top Competitors are:
Edu Soorts
Fitso by Cult.fit
Push Sports – Future Plans
They want to expand to 5 new Tier 1 and Tier 2 cities in the next five years and expand their area count to 100+ arenas from the current 20. This will serve about 1 lac sports enthusiasts each month.
GlazeGPT is an innovative text-to-SQL AI tool designed to serve as a dedicated AI data analyst for companies dealing with complex databases. Founded by Karan Doshi and Atishay Jain, GlazeGPT operates with a mission to simplify and democratise data analysis, making it accessible to businesses of all sizes.
GlazeGPT’s revenue model is based on a subscription fee, and the company employs a three-fold strategy for customer acquisition and retention, focusing on trust, value, and engagement.
In terms of recognition, GlazeGPT has achieved a notable milestone by outshining competitors in the MIT SQL generation benchmark test with an accuracy rate of 97.04%.
In this article, let’s delve into the realm of GlazeGPT—its founders, business and revenue model, funding, marketing strategy, and more.
GlazeGPT, a cutting-edge text-to-SQL AI tool, serves as a dedicated AI data analyst for companies grappling with complex databases. Operating 24/7, GlazeGPT streamlines data tasks, providing unparalleled efficiency gains for smaller logistics, fintech, and retail businesses. By integrating GlazeGPT, these companies can elevate their operations, achieving over 30% efficiency improvements and substantial cost savings.
GlazeGPT – Industry
GlazeGPT is a versatile tool with applications across diverse industries, including fintech, edtech, logistics, healthcare, retail, and beyond. The tool’s adaptability is a key focus, with an ongoing commitment to exploring new industries for potential integration.
Founders Karan Doshi and Atishay Jain are not only passionate but also optimistic about AI’s role in India’s thriving tech ecosystem. The ecosystem, valued at $680 million in 2022, is anticipated to skyrocket to $3.9 billion by 2028, boasting a remarkable CAGR of 33.28%. They firmly believe that AI stands as a potent and transformative force capable of addressing myriad challenges in India while unlocking fresh opportunities for economic and social development.
Proud contributors to India’s burgeoning AI community, the founders draw inspiration from the successes of global AI entities like Open AI, Anthropic, and more. Their vision encompasses a luminous future for AI in India, where the technology enhances the quality of life for millions and contributes significantly to global AI knowledge and applications. GlazeGPT, they envision, will play a pivotal role in this future by simplifying and democratizing data analysis through its AI-driven capabilities, making it accessible to all.
GlazeGPT – Founders and Team
Atishay Jain (left) and Karan Doshi (Right) – Co-Founders of GlazeGPT
Led by Karan Doshi, an IIT BHU graduate and data innovation pioneer, GlazeGPT is backed by the expertise of Atishay Jain, a data engineering specialist with a Goldman Sachs background. Atishay’s knack for NLP and AI, combined with his ETL company experience, forms the technological backbone of GlazeGPT.
According to Atishay, the future of data-driven businesses hinges on rapid data dissemination for agile decision-making, aiming to combat corporate inertia. This aligns with a Gartner report suggesting potential savings of $379 billion through full-scale real-time data analytics implementation, a goal often unmet by 70% of surveyed companies.
Presently, GlazeGPT operates as a nimble team of fewer than 10 professionals in Bangalore. Their hiring philosophy values passion, creativity, and adaptability to industry shifts. GlazeGPT work culture is a blend of respect, trust, and integrity, empowering employees to take ownership of their growth both professionally and personally. It fosters continuous learning, feedback and improvement, creating an environment where innovation, collaboration, and customer satisfaction thrive.
GlazeGPT – Startup Story
Prompted by the question, “Can decision-makers afford to wait for insights?” GlazeGPT’s founders found inspiration for their venture.
Karan, CEO and IIT-BHU alum, observed the struggles of non-technical managers in obtaining real-time data during his tenure as a young product manager at Flipkart. Leveraging his expertise in data product development and leading machine learning growth hack teams, coupled with the rise of LLMs, Karan seized the opportunity to create GlazeGPT.
Citing the State of AI in India 2022 report, revealing a USD 12.3 billion AI-generated revenue with a projected 42% CAGR, the founders envision GlazeGPT as a key player in democratizing data analysis, making it easy and accessible for everyone through its AI data analyst.
GlazeGPT – Vision and Mission
Vision: In the short term, GlazeGPT aims to be the go-to data analyst copilot for mid-to-large companies globally, spanning diverse industries such as edtech, healthcare, and agriculture. The company plans to fortify their research capabilities by expanding its team with experts from renowned institutions like Microsoft LLMs, Amazon AI labs, and the Allen Institute of AI. Simultaneously, GlazeGPT will enhance its product features for enterprise deployment, with a focus on optimizing the research review phase to deliver significant cost savings.
Long-term aspirations involve positioning GlazeGPT as the undisputed global leader in AI-driven data analytics.
The Mission: In a data-rich yet insight-poor corporate landscape, GlazeGPT is on a mission to empower rapid comprehension of vast datasets. Traditional analytics tools prove overly intricate for non-technical team members, leading to inefficiencies. Referencing a study by InfoWorld, which highlights that data scientists spend only 20% of their time on actual analysis, GlazeGPT aims to revolutionize this paradigm. The cutting-edge text-to-SQL AI tool liberates data analysts from mundane SQL tasks, allowing them to focus on high-level analysis and significantly boosting overall productivity.
GlazeGPT came from the idea that Founders wanted all companies, regardless of their size or technical expertise. Companies should have a better AI analyst than ChatGPT, which is only 55% accurate. That’s why the name GlazeGPT.
GlazeGPT – Product/Services
In a data-rich era, GlazeGPT addresses the challenge of complexity in traditional analytics tools, particularly for non-technical users. With only 15% of executives possessing both industry knowledge and programming skills, as per Harvard Business Review, GlazeGPT steps in.
GlazeGPT tool enables effortless English-based database queries, reducing the risk associated with deploying intricate tools to non-technical users. Powered by advanced LLMs and proprietary models, GlazeGPT introduces industry-first features for enhanced database understanding.
Beyond simplicity, GlazeGPT is a robust enterprise analytics solution, offering:
Code-free automated alerts for vital KPIs.
Swift integration with 30+ database systems and data warehouses in just 30 minutes.
Ensured 100% data privacy through docker image integration in private cloud environments.
Cutting-edge AI that rapidly catalogues databases, setting a new efficiency standard.
GlazeGPT – Business and Revenue Model
GlazeGPT’s revenue model is based on a subscription fee that varies depending on the number of users, the amount of data, and the frequency of queries. They charge a monthly or annual fee for each user who wants to access their AI data analyst service. They also offer a 1-month free trial period for new customers who want to test their product before committing.
GlazeGPT: Business and Revenue Model
GlazeGPT – Launching Company Strategies
Both founders, coming from global companies like Goldman Sachs and Flipkart, tapped into their networks to secure initial customers. Research advisors from Microsoft, Amazon, and the Allen Institute of AI further bolstered early adoption. GlazeGPT’s Twitter and LinkedIn demos went viral, amassing over half a million views and generating a significant waiting list with demand surpassing capacity.
GlazeGPT – Customer Growth and Retention Strategies
GlazeGPT employs a three-fold strategy for customer acquisition and retention centred on trust, value, and engagement.
Trust: Understanding the sensitivity of customer data, GlazeGPT prioritizes privacy and security. State-of-the-art encryption, authentication methods, and private cloud hosting ensure data protection and regulatory compliance. Transparent communication, receptiveness to feedback, and addressing customer concerns further build trust.
Value: The focus is on delivering the best data analysis solution in the market. GlazeGPT provides accurate, fast, and easy insights in natural language, eliminating the need for SQL knowledge. Customers benefit from time and cost savings, improved decision-making, and actionable insights.
Engagement: Creating long-term relationships involves a 1-month free trial, personalized onboarding, and training. Regular product updates align with customer needs, and engagement channels like email, social media, and webinars keep customers informed and involved.
Marketing Strategy: A multi-pronged marketing approach includes paid ads, organic posts, content marketing, and influencer marketing to reach a global audience.
Viral Marketing Campaign: A recent LinkedIn post revealing accuracy test results went viral with over 70 reposts, 350 likes, and 50 comments.
GlazeGPT – Challenges Faced
Challenge: Many solutions, while effective on open-source databases, struggled with real-world databases due to poorly named tables and ambiguous column names, impacting their performance. No LLM could decipher the meaning behind such columns, affecting accuracy.
Solution: The solution involved a multifaceted approach, incorporating cataloguing, fine-tuning, LLM call chaining, proprietary algorithms, and embedding techniques. Recognizing that efficiency is crucial for business users, GlazeGPT responded to over 80% of queries in under 15 seconds, outperforming many solutions that faced delays.
Addressing Accuracy Challenges:
Understanding User Knowledge Gap: Recognizing that business users might lack database expertise, GlazeGPT tackled questions that the data couldn’t inherently answer.
Handling Ambiguity: Resolving ambiguous questions, such as those lacking clear definitions like “Which regions are performing well?”, required precision.
Prompt Results: Efficiency was a key focus, ensuring users received answers within seconds, eliminating prolonged wait times.
Outcome: GlazeGPT achieved an impressive 97.04% accuracy in generating correct and acceptable SQL queries out of 406 questions. For context, contemporary solutions struggle to reach a 55% accuracy rate, while human accuracy hovers around 92%. This multi-faceted strategy catapulted GlazeGPT to a new level of accuracy and efficiency in real-world database interactions.
GlazeGPT – Growth
As of today, GlazeGPT is headquartered in Bangalore, and while the Company do not disclose financial details publicly, GlazeGPT is thriving in various aspects.
Partnerships: GlazeGPT journey is enriched by collaboration and support from esteemed partners, including Xpressbees, manafa | منافع, and TreeDots. Their contributions range from providing valuable feedback, data, and use cases to integrating AI data analysis into their platforms like Slack, WhatsApp, and Google Chat, enhancing accessibility and analysis of data. They’ve played a pivotal role in its pursuit of achieving state-of-the-art accuracy on the MIT BIRD benchmark.
Client Trust: Executives from renowned global brands such as Comcast, Nykaa, Zenklub, and more trust GlazeGPT for their data analytics needs. This trust extends across diverse sectors, including logistics, healthcare, technology, and nutrition, showcasing its broad and impactful reach.
Market Awareness: GlazeGPT partners actively promote GlazeGPT to its customers and networks, contributing to increased brand awareness and reputation in the market. This collaborative approach aligns with its commitment to continuous improvement and innovation.
GlazeGPT – Marketing Strategy
Their standout marketing success followed the announcement of GlazeGPT’s accuracy score on MIT’s benchmarking test. A blend of influencer marketing, organic reposting, email campaigns, and content dissemination catapulted its achievement.
In a short period, the post gained traction with 70 reposts, 350 likes, and 50 comments, engaging prominent figures in the AI space. This success spurred interest from decision-makers globally, seeking to integrate GlazeGPT into their workflows. The campaign’s impact was further amplified by major voices in the AI sector reposting their achievement.
GlazeGpt Schedule Alerts
GlazeGPT – Recognition and Achievements
GlazeGPT’s pinnacle achievement is its exceptional performance in the MIT SQL generation benchmark test, outshining Open AI and Google with an impressive 97.04% accuracy. This success, attributed to its proprietary deep tech platform, garnered widespread acclaim from industry leaders and influencers. The achievement is grounded in four non-negotiable principles: compatibility with messy databases, high accuracy rates, understanding internal metrics, and developer independence.
GlazeGPT – Funding
GlazeGPT, based in Bangalore, proudly operates as a bootstrapped company, having not sought external funding. The company’s growth and product development are sustained by revenue from customers and partners. This self-sustaining and profitable model aligns with GlazeGPT’s commitment to data democratization and AI innovation.
Collaborations with leading companies in logistics, fintech, and food tech, such as XpressBees, Manafa | منافع, and TreeDots, have been instrumental. Their valuable feedback, data, and use cases contributed to product improvement and achieving state-of-the-art accuracy on the MIT BIRD benchmark. GlazeGPT expresses gratitude for the trust and support of these companies in realizing its vision.
GlazeGPT – Key Tools and Software
GlazeGPT use tools and software such as Apollo, Hubspot, AWS, etc
GlazeGPT – Competitors
Some of their top competitors include:
Defog.ai
LogicLoop
Locale.ai
Snowflake
Here are a few comparisons with some competitors:
Defog.ai: Defog.ai has a non-trivial setup, requiring some tech capabilities from companies whereas GlazeGPT has a quick hassle-free setup without much technical knowledge.
Locale.ai: With Locale.ai, the AI-> SQL functionality is not top of mind with the software built and targeted primarily towards ops teams. It also can’t converse with the software directly, non-trivial to set up automated alerts for mission-critical KPIs.
GlazeGPT – Future Plans
GlazeGPT aims to revolutionize the traditional process of extracting insights from company data, eliminating the need for manual SQL writing. In a future propelled by GlazeGPT, companies worldwide won’t have to engage in the complex task of writing SQL anymore. Leveraging its technology, they plan to free up valuable time for professionals, particularly the millions of Business and Senior Business Analysts, who currently spend 20-50% of their time on mundane SQL queries. Their vision is to usher in a more efficient and dynamic era for businesses globally.
Karan Doshi and Atishay Jain are the co-founders of GlazeGPT.
What industries does GlazeGPT cater to?
GlazeGPT is versatile and applicable across diverse industries, including fintech, edtech, logistics, healthcare, and retail.
What is GlazeGPT vision for the future of data analysis?
GlazeGPT aims to be the go-to data analyst copilot for mid-to-large companies globally, spanning diverse industries such as edtech, healthcare, and agriculture.
B2B SaaS is cloud-based software that businesses can access from anywhere as long as the users are connected to the Internet. B2B SaaS offers many advantages: Instead of buying software licenses, businesses can take advantage of flexible pricing options.
NachoNacho is a groundbreaking B2B SaaS + services marketplace driven by Fintech and AI. The platform revolutionizes how businesses manage, discover, and obtain discounts on SaaS and services, offering up to 30% off lifetime deals.
In this article, let’s learn more about NachoNacho, its founders, products, strategies, challenges, and more.
NachoNacho is a B2B SaaS + services marketplace powered by Fintech and AI. Manage, discover, and get discounts on SaaS + Services (up to 30% off lifetime).
NachoNacho – Industry
NachoNacho observes that SaaS purchasing is undergoing a shift towards decentralization, indicating a departure from relying on MSPs and SIs. This trend empowers internal department heads to autonomously procure subscriptions. Consequently, it results in increased SaaS sprawl throughout organizations. In light of this, NachoNacho recognizes the significance of its Subscription Management and Spend Management features in addressing these evolving needs.
Through the NachoNacho platform, users can leverage AI-powered tools to identify suitable software solutions by comparing their buyer profiles with those of similar profiles from other companies. This capability enables NachoNacho users to discover relevant software effectively. Additionally, NachoNacho facilitates purchasing at discounted rates and centralizes the management of subscriptions, streamlining the entire process for business users.
Sanjay Goel (Left) and Alan Szternberg (Right) – Co-Founders of NachoNacho
The two Founders met after having experience in the software industry for many years. Sanjay Goel, the CEO, had previously worked as a Managing Director for Hedge Funds, Deutsche Bank London, HSBC London, and Citibank. More recently Sanjay launched a software company named Oximity, which was sold to Scribd. Alan Szternberg, the CTO, was previously the owner of several development agencies including mirabelle.io and GooPlus after having gained a lot of experience at amazon.com for many years. Alan primarily manages the technical side of the business, while Sanjay helps with overall company operations and has his hand in almost every aspect of the company.
The company currently has 16 employees and a fully remote work culture, although both the San Francisco and New York City teams will meet at local co-working spaces on a bi-weekly basis. Their team intends to set trends rather than follow them. This requires first-principle thinking – a key element of their ethos.
Their diverse team can be found in over 7 countries around the world, giving them a multicultural perspective to help solve the challenges of the B2B SaaS industry. They believe a good team foundation is built on values, not where you’re from. They believe in the empowerment of talent at all levels – giving ownership and responsibilities beyond a team member’s current skill level or experience. They believe in lifelong learning, and learning by doing.
NachoNacho – Startup Story
Both founders of NachoNacho have extensive backgrounds in both large corporations and startups. They have observed the pervasive influence of the subscription economy across various facts of professional and personal life, noting its generally positive impact on both buyers and sellers of subscription products. However, drawing from their collective experiences, they identified several issues within the subscription economy.
As buyers of subscriptions, they encountered challenges such as:
Experiencing significant financial waste due to subscription sprawl within their companies.
Struggling to discern which subscriptions were held by different departments within the company.
Facing uncertainty in selecting the most suitable subscription products to fulfill specific needs.
On the seller side, they observed intense competition across all categories of subscriptions, leading to substantial increases in user acquisition costs. In response to these challenges, the founders recognized the need to streamline and harmonize the subscription economy by establishing a centralized platform for both buyers and sellers.
Drawing inspiration from successful marketplaces like Amazon, eBay, Etsy, and Upwork, the founders envisioned creating a similar marketplace tailored specifically for subscriptions. Although initially focused on subscription management, the founders pivoted their approach based on user feedback, realizing the market gap for a comprehensive solution encompassing discovery, purchasing, and management experiences for SaaS products.
In 2019, NachoNacho commenced its journey with a vision to primarily address subscription management. However, with valuable user feedback, they swiftly adapted their strategy to cater to the broader needs of the market. This evolution culminated in a successful seed round of fundraising, securing $3 million in early 2022. This capital injection enabled NachoNacho to expand its team and scale its operations to further innovate and grow within the subscription economy.
NachoNacho – Vision and Mission
NachoNacho building the world’s first and largest true marketplace for subscriptions to harmonize the subscription economy and foster its further growth. It uses the latest fintech tools to create powerful user experiences for all stakeholders in the marketplace.
NachoNacho – Name and Logo
NachoNacho means “Dance, Dance” in Hindi. A lot of people ask us about it, since the term isn’t well-known in the US, it mostly catches and draws attention that way. For people in the know, in India especially, they might recall a famous Bollywood movie. For NachoNacho, it connects with its vision to be constantly moving while creating a fun, positive community environment for both the SaaS vendor and SaaS buyer experience.
NachoNacho Logo
NachoNacho – Product/Services
NachoNacho is a single destination for businesses to manage and buy SaaS products. Users connect their payment source to their NachoNacho account and create one virtual VISA card per subscription. They migrate all their existing subscriptions to NachoNacho by simply changing the virtual card being used in each subscription account. They also buy new subscriptions by creating a new virtual card per subscription.
As a central hub for businesses to manage and buy new subscriptions, NachoNacho acts as an efficient matchmaker between buyers and sellers. NachoNacho can predict the needs of buyers based on their purchase behaviour and recommend products most suitable to them.
NachoNacho utilizes a variety of AI and Fintech tools to better enable users to identify new software they should be using, analyze wasted software spend, then manage all of their subscriptions and spend company-wide in one platform. In the early days, the platform was primarily focused on consumer subscription sprawl (e.g. Netflix and other consumer subscriptions), but more demand was seen in the B2B SaaS subscription space, which led to the pivot in 2019-2020.
NachoNacho – Business and Revenue Model
Their business model mostly depends on the referral CPA they get for driving business to its vendors. This way they’re aligned with the best interests of their partners to help sell their products, again harkening back to the win-win mentality that they have in their Marketing and Partnerships teams.
NachoNacho – Launching Company Strategies
A lot of the first users came through personal relationships. The core team, and especially the Founders, have a lot of preexisting relationships and a good reputation amongst businesses. This alone was able to draw in the early customer base, after that it became all about word-of-mouth, especially among SaaS vendors hungry for new opportunities to acquire new customers at a lower CAC.
NachoNacho – Customer Growth and Retention Strategies
As a Marketplace for SaaS and Services, it partners with every vendor that comes onto its platform. These collaborations are designed to be win-win-win to build their brand awareness, the awareness of other vendors in its community, and for NachoNacho as the best place to buy SaaS and Services online. NachoNacho currently does not spend any money on Marketing, everything is a sweat equity investment in team member hours, content collaborations with partners, and SEO. NachoNacho sees its Marketplace as a community, which grows by doing mutual collaborations that help promote their partner’s businesses and create awareness for its vision to harmonize the subscription and B2B services economy.
NachoNacho SaaS Marketplace
NachoNacho – Challenges Faced
One of the major challenges they faced was the adoption of their powerful Fintech tool, which they call NachoCards. These empower users to access premium discounts on SaaS products, but more importantly, track and control all of their subscriptions spend company-wide. One of the challenges was getting users to understand how they’re used as a Fintech tool, as opposed to just any other credit card, to do this they created a freemium approach to the Marketplace which enables users to quickly access software perks and discounts, learn about the importance of SaaS management and solving the Subscription Sprawl problem, then upgrade to access that feature on their own timeline.
What they’ve come to find is that once their business users understand how NachoCards work (as a Fintech tool, as opposed to a traditional credit card), they love using them for each and every subscription – one card per employee per vendor, just the way the platform was designed in order to maximize their ability to track and control subscription spend. As a startup they’re constantly faced with new challenges and opportunities to enhance the user experience for the platform, but as they gain more partnerships, the value of the Marketplace continues to grow for its users as they’ve essentially become a one-stop-shop to find all of the popular SaaS products at a great price and with the ability to access powerful Fintech and AI tools that enable finding their next SaaS tool easier than ever and, more importantly, solving the subscription sprawl problem with their easy-to-use SaaS management features.
NachoNacho – Growth
They operate globally mostly remotely, but have shared office space in New York City and San Francisco. They cannot publicly disclose profitability or revenue due to internal company policy. They have over 25,000 businesses signed up and ~ 1000 vendors signed up for the platform on both the SaaS and Services side. They’re rated consistently 4.5 stars and above on review aggregator websites such as G2, Trust Radius, Capterra, and more.
NachoNacho – Marketing Strategy
They do a lot of co-marketing initiatives which include webinars that generate social media sound clips from SaaS leaders. They’ll also do content collaborations which include blog posts, social media announcements, and videos with its partners that involve co-announcing the new partnership. They believe that a “rising tide raises all boats” and that the growth for their platform as well as the revenue opportunity and brand awareness for its partners is inextricably intertwined. They seek to grow mutually through win-win-win collaborations.
NachoNacho Services Marketplace
NachoNacho – Recognition and Achievements
As of the current date, NachoNacho has not received any awards. Nonetheless, the company receives consistent acknowledgement from its vendor partners, which include some of the leading SaaS brands in the industry such as Gusto, Zoom, Oracle, and many others. NachoNacho has curated an impressive roster of over 700 of the most popular software brands, and this list continues to expand daily as the company adds new partners to its platform. This robust network of reputable vendors underscores the company’s position as a trusted and valued partner within the SaaS ecosystem.
Appsumo: More of a Marketplace competitor, but focused primarily on early-stage startups. Vendor: An enterprise-focused SaaS procurement and management platform.
Zluri: Spend and subscription management platform (no Marketplace)
Torri: SaaS Management platform built with a focus on IT managers
NachoNacho – Future Plans
They will be constantly evolving their Marketplace offering, especially since recently they added a Services Marketplace. They expect their Marketplace offerings to grow dramatically in 2024. They’re also improving its subscription discovery service as they allow SaaS buyers to provide more profile data and paired with SaaS usage and purchasing behavior from similar profiles, they are more accurately able to suggest the right software tools for SaaS buyers.
FAQs
Who are the founders of NachoNacho?
Sanjay Goel and Alan Szternberg are the founders of NachoNacho.
What is NachoNacho?
NachoNacho is a B2B SaaS + services marketplace powered by Fintech and AI and it manages all your SaaS and business expenses in one place using virtual credit cards.
What is a NachoCard?
NachoCards are virtual Visa cards that are created on a per-subscription basis within your NachoNacho account.
The revenue in India’s apparel market is expected to reach $105.50 billion by 2024, with a compound annual growth rate (CAGR) of approximately 3.81% from 2024 to 2028. Among the many apparel brands, the shirt dandy is gaining attention with its unique custom-made shirts, blending modern technology with classic style to attract customers.
Headquartered in Vienna and New Delhi, the shirt dandy’s strong commitment to quality and innovation is what sets it apart in a crowded market, resonating with customers seeking personalized and sophisticated shirt options.
In this article, explore more about the shirt dandy, its founders, how it started, strategies, business and revenue model, challenges faced, and more.
Founded in Vienna in 2022, the shirt dandy is an innovative and customer-centric venture set to revolutionize the Indian apparel industry. The custom-made shirt business offers a unique combination of key differentiators, setting them apart from traditional competitors in India and Europe.
TSD’s Unique Selling Proposition (USP) lies in four core pillars: affordability, rapid lead times, sustainability, and an exceptional omnichannel experience. TSD operates on the core values of empowerment, customer centricity, employees first, and sustainability. By staying true to these values, TSD envisions a future where the brand becomes synonymous with excellence, affordability, sustainability, and personalized fashion, contributing positively to both the fashion landscape and society as a whole.
Renowned for its premium custom-made shirts, the shirt dandy has a variety of premium products, including custom-made shirts crafted from 100% cotton, linen, bamboo, tencel, and zero-iron fabrics. Further, it aims to make custom-made apparel more accessible and affordable, expanding into additional categories such as suits, chinos, polos, and more.
the shirt dandy – Industry
Being an Indian-European collaboration, the shirt dandy capitalizes on its dual market access, expanding its Total Addressable Market (TAM) beyond local Indian competitors. While custom-made apparel is a niche in India, the potential for mass market growth exists due to robust economic development, a burgeoning middle class, enhanced earning capacity, and advancing technologies like AI.
By amalgamating the strengths of both regions, the company aims to establish new benchmarks in the Indian market. Within the next years, the shirt dandy wants to establish itself as the go-to brand for custom-made men’s fashion in India.
the shirt dandy – Founders and Team
Initially co-founded by Thomas and Paul Verschragen, a 3rd generation master tailor from the Netherlands, the shirt dandy took a new trajectory when disagreements arose. Aayush, then 25, joined as a co-founder after Thomas presented his vision. They crossed paths in Gurgaon during Thomas’s professional stint in India.
Aayush Sharma and Thomas Hebenstreit – Co-Founders, the shirt dandy
Thomas Hebenstreit
Thomas holds a Master of Science in Finance and Accounting from the Vienna University of Economics and Business. As CEO of the shirt dandy, Thomas oversees E-commerce Strategy, Technology & IP, Business Development, and investor relations.
Aayush Sharma
Aayush, an NMIMS alumni, gained experience in Investment Banking at Bank of America. Now, as the COO of the shirt dandy, he manages finances, HR, and operations in India.
With a current team of 7 in India, the shirt dandy aims to expand to 20 employees by the end of 2024 in Austria, primarily hiring sales executives.
the shirt dandy – Advisors & Mentors
Here are the esteemed advisors and mentors who have provided invaluable guidance and support to the shirt dandy:
Mr. Naveen Pishe – Partner at PN RAO
Mr. Michael Klemen – Senior Expert at the Austrian Senior Expert Pool (ASEP)
Mr. Stefan Kern – CEO of smart.MOM, a Vienna-based digital marketing agency
Mr. Sudhanshu Sharma – Entrepreneur and Indian Military Veteran
the shirt dandy – Startup Story
Aayush Sharma (COO & Co-Founder) and Thomas Hebenstreit (CEO & Co-Founder) started the shirt dandy after careers in finance, where the constant need for well-fitted shirts and suits sparked their quest for a brand meeting all criteria: fit, style, quality, and reasonable pricing with diverse fabrics and colors. Their professional demands made shirt shopping a time-consuming challenge, often involving compromises on fit or style. Recognizing the value of time, they aimed to address these issues with the shirt dandy.
The vision? Empower individuals to create the perfect garment, reorder effortlessly, and be their own designers, all with swift deliveries. Inspired by experiences with custom-made shirts, they set out on a journey that, within 9 months, reached a point comparable to a decade of progress for Bombay Shirt Company. the shirt dandy, having strategic partnerships and embracing cutting-edge tech, introduced the first AI-powered 3D configurator for custom-made shirts in India.
the shirt dandy’s mission is to revolutionize the Indian apparel industry, transforming the way men engage with fashion. Through the fusion of cutting-edge technology, impeccable craftsmanship, and an unwavering dedication to superior service, it aims to simplify the shirt shopping experience like never before.
By consistently broadening its product range, it aspires to be the ultimate destination for sartorial clothing. The company is committed to making high-quality garments accessible and affordable for the aspirational individual who appreciates life’s finer things.
Looking ahead, the shirt dandy’s vision includes establishing a successful franchise system, with its digital signage stores proliferating across the nation in the long run.
the shirt dandy – Name and Logo
the shirt dandy Logo
In the company name ‘the shirt dandy,’ the term ‘dandy’ means a man, especially in the past, who dressed in expensive, fashionable clothes and was very interested in his own appearance. Its goal was to revive this dandy spirit with a modern twist, and the inclusion of the term ‘shirt’ unmistakably communicates its core offering.
The logo features the silhouette of a Siberian husky, a breed known for its striking appearance and strong character. This choice holds personal significance for co-founder Thomas, who owns a Siberian Husky named Sky. The logo is derived from one of Sky’s pictures.
Beyond symbolizing the emotional connection, the logo conveys the sustainable relationship between an individual and a garment that is uniquely theirs. Similar to the distinctive bond with a dog, it represents a one-of-a-kind connection that cannot be replicated by anyone else.
the shirt dandy – Product/Services
the shirt dandy Models Showcasing Its Shirts
Austrian brand, the shirt dandy (TSD), is making waves in the Indian market with its revolutionary AI-powered 3D configurator. This cutting-edge Italian technology enables customers to design shirts online, offering curated experiences with diverse styles, fabric choices, and detailing options. TSD introduces an exclusive pre-booking opportunity with limited slots, turning inaugural customers into brand ambassadors through a unique referral system. This strategic move aims to build a community of fashion enthusiasts excited about TSD’s debut in India.
Beyond transforming the shopping experience, TSD prioritizes reduced lead times and offers lifelong free alterations, a future buy-back program, and the exclusive Dandy Club, connecting members with industry leaders. With an international presence, TSD plans to open its flagship Digital Signage store in Gurgaon, accompanied by pop-up stores across the city. For Delhi NCR customers, home appointments and AI-powered self-measurements are available.
The brand’s custom-made shirt business stands out with key differentiators: affordability, rapid lead times, sustainability, and an exceptional omnichannel experience, setting it apart from traditional competitors in India and Europe.
the shirt dandy – Business and Revenue Model
Currently running a D2C E-commerce venture, the shirt dandy’s ultimate goal is to deliver an integrated omni-channel experience to customers. This involves managing its own digital signage stores and providing the convenience of home appointments. the shirt dandy caters to aspirational individuals valuing life’s finer aspects, and aspire to stand out both personally and professionally.
the shirt dandy shirt collection spans a price range from just below INR 3,000 to INR 12,000, reflecting the fabric quality. Emphasizing transparency, it adheres to an all-in-one-price policy. Customers won’t incur additional charges for shipping, alteration services, or the inclusion of their monogram on shirts.
When launching their company with zero users, the shirt dandy implemented a multifaceted approach that leveraged various strategies to acquire its first 100 customers. While collaborating with real achievers—entrepreneurs and industry leaders—served as a cornerstone of their launch strategy, the company also focused on other key initiatives. Their holistic approach included visually stunning and appealing creatives to captivate their audience’s attention. Additionally, the establishment of the Dandy Club—an exclusive community of support—further bolstered their brand presence and attracted early adopters.
By intertwining these strategies, They crafted a compelling narrative that resonated with its target audience. Real people with authentic stories helped position their brand in the perfect way, reinforcing the core message of TSD: “You are the brand.” These achievers, with their bravery and unique journeys, became the embodiment of their brand ethos.
Through a combination of influencer collaborations, visually appealing creatives, and the establishment of an exclusive community, they successfully acquired their first 100 customers. This holistic approach not only drove user engagement but also laid the foundation for sustainable growth and brand affinity in the market.
the shirt dandy – Customer Growth and Retention Strategies
Since its launch, a combination of organic press coverage and a robust influencer approach has been instrumental in attracting and retaining customers. The social validation received from prominent publications, both locally and globally, has provided credibility and visibility for the brand. Additionally, the strategic partnerships with real achievers and industry leaders have helped them make a lasting impact in the minds of their initial customer base.
Moreover, engaging with the Dandy Club community has proven highly beneficial for customer retention. By fostering connections within this exclusive network, they’ve not only strengthened brand loyalty but also unlocked potential B2B opportunities and various collaborative ventures. This approach has allowed them to cultivate a community-driven ecosystem where customers feel valued and connected to the brand beyond just their individual purchases.
the shirt dandy – Challenges Faced
Embarking on a venture with a predominantly remote collaboration spanning two continents and limited resources posed initial challenges. However, what initially seemed like a hurdle evolved into their greatest strength. Operating efficiently within a diverse, multi-cultural team equipped with profound market insights into both Europe and India, coupled with robust local networks, are now their fundamental asset.
They firmly believe that they represent a new breed of founders: multicultural, daring, deeply rooted in local contexts, yet with a global mindset. While many startups naturally expand across borders over time, their unique approach involves launching internationally with a non-digital product in a dual-market strategy from the outset.
the shirt dandy – Growth
To propel the company’s growth from 100 to 10,000 users, they adopted a multifaceted strategy that leverages strategic partnerships and targeted marketing initiatives. While they are still in the exploration phase with potential partners like Amex and Cred, these collaborations hold the promise of expanding their reach to affluent clientele and enhancing their brand’s prestige and exclusivity.
Furthermore, their strategy involves a dual approach aimed at acquiring both B2B and B2C clientele. Through partnerships with prestigious service industries such as luxury hotels and airports, they aim to provide custom apparel solutions for their service staff, showcasing the quality and sophistication of their offerings. Additionally, discussions are underway to introduce exclusive TSD lounges at select airports and luxury hotels, offering customers a firsthand experience of their personalized tailoring services combined with cutting-edge AI technology.
To expand its reach and immerse TSD in culture, the founder is actively participating in industry-specific events such as textile exhibitions and lifestyle weeks. These engagements not only enhance brand visibility but also position TSD as a key player in the fashion and luxury segments. Overall, their approach combines strategic partnerships, targeted marketing campaigns, and immersive cultural engagements to drive exponential growth and solidify their position as a leader in luxury custom apparel.
the shirt dandy – Partnerships
the shirt dandy has made a strategic partnership with Successori Reda S.p.A., an esteemed Italian company with 150 years of heritage in the textile industry. Since 1865, Reda has been a model of style and elegance, a leader in the production of fine pure wool fabrics intended for the making of classic men’s suits. This groundbreaking collaboration will witness the shirt dandy joining forces with Tailoor, the software arm of REDA, renowned for its cutting-edge innovations.
By aligning with Tailoor, TSD aims to accelerate the introduction of pioneering AI features into the Indian market, marking a significant advancement in the realm of custom shirt craftsmanship. This collaboration also marks a pivotal moment in the fashion industry, leading to a new era of innovation and personalized experiences for customers in the Indian market.
the shirt dandy – Marketing Strategy
the shirt dandy’s most successful marketing strategy thus far has been its influencer activation, where they strategically collaborate with real-life heroes rather than traditional influencers. While it’s still early to declare definitive results, all their strategies are currently exceeding expectations.
However, they anticipate that their influencer activation, with its emphasis on authentic storytelling and genuine connections, will emerge as a standout performer in boosting sales and scaling their brand.
the shirt dandy – Funding
They are presently seeking to secure INR 1.5 crore in funding to fuel their expansion initiatives. The funds will be allocated towards establishing their inaugural store, comprehensive marketing efforts, and strategically expanding their team.
the shirt dandy – Key Tools and Software
The essential tools and software driving the shirt dandy include a pivotal technology partnership with the esteemed Italian Reda Group. This collaboration serves as the backbone for their customization platform, ensuring cutting-edge solutions that elevate the personalized experience for their customers.
the shirt dandy – Competitors
the shirt dandy competes with Bombay Shirt Company, Raymond Made-to-Measure, and Tailorman.
Thomas Hebenstreit and Aayush Sharma are the co-founders of the shirt dandy.
When was the shirt dandy founded?
the shirt dandy was founded in 2022.
What is the price range of the shirt dandy’s shirt collection?
the shirt dandy shirt collection spans a price range from just below INR 3,000 to INR 12,000, reflecting the fabric quality.
What sets the shirt dandy apart from its competitors?
The utilization of cutting-edge AI-powered 3D configurator technology sets the shirt dandy apart from traditional competitors in India and Europe, offering a unique combination of key differentiators in the custom-made shirt business.
India’s staffing and recruitment market reached a valuation of US$ 18.06 billion in 2022 and is expected to grow to US$ 48.53 billion by 2030. In this sector, Dashhire simplifies processes and supports organizational needs.
Dashhire is a platform connecting companies with skilled candidates, leveraging technology to streamline hiring procedures.
Read on to learn more about Dashhire, its founders, business and revenue model, challenges faced, strategies, and more.
Dashhire is an innovative tech recruitment firm, that pioneers to find the solution to the perennial challenge of tech talent hiring for burgeoning startups.
Dashhire – Startup Story
In the midst of the Covid pandemic, with the world on pause, a spark of inspiration ignites. DashHire envisioned building a community to uplift blue and grey-collar workers, through training. Initially, they saw that participants were eager to learn new skills. However, reality soon dawns – these individuals seek more than just training; they crave real job opportunities.
Swiftly pivoting, DashHire morphed into a job placement superhero, securing coveted positions for them left and right. With companies clamouring for talent, they came back to us but this time for their demands of tech hires.
Recognizing the urgency, particularly for VC-funded startups, they seized the moment. Thus, Dashhhire was born – a beacon of speed and efficiency in the hiring landscape. Promising to close positions at lightning speed, Dashhhire emerges as the Usain Bolt of recruitment.
But how do you achieve such remarkable feats? By defying convention and embracing innovation. DashHire revolutionised the recruitment process, offering pre-vetted candidates through “Interview as a Service” platform. In the pursuit of swift turnaround times (TATs) and timelines, Dashhhire pioneers the concept of offering pre-vetted candidates. This move solidifies its position as one of the first few companies to provide such a service, setting a new standard in the industry.
In essence, Dashhhire’s tale is a testament to the power of adaptability and thinking outside the box. In a world where change is constant, it’s those who dare to innovate that ultimately thrive.
Dashhire – Vision and Mission
The long-term vision of Dashhire is to revolutionize the tech recruitment landscape by seamlessly connecting startups with the ideal tech talent, fostering sustained growth and innovation within the industry. In the short term, they aim to establish themselves as the go-to platform for startups seeking the right tech talent that precisely matches their unique needs and culture.
Dashhire is fueled by the belief that no hiring challenge is insurmountable. Their mission? Not just to ease startups’ frustration in finding tech talent, but to delight them with perfectly aligned candidates. Their motto, “Empowering Startups, Enriching Careers,” sums it up. They empower startups with essential human capital and enrich tech professionals’ careers with tailored opportunities.
Dashhire – Founders and Team
Shubham Jain (Left), Abhishek Sultania (Center) and Tanmay Daripa (Right) – Co-founders of Dashhire
Forget Silicon Valley garages, their story begins in the humble yet happening drawing room of their HSR Layout house in 2020. The pandemic was raging, but their entrepreneurial spirits were ablaze. How did they find each other? Not through fancy VC meetups, but through the greasepaint and camaraderie of their IIT Kharagpur theatre group days – they’d known each other for a decade!
Think of them as the Avengers of different expertise:
Abhishek, the Operations Captain: This former Rolls Royce and startup veteran wields his strategy and operations superpowers to keep their ship sailing smoothly.
Shubham, the Business Development Iron Man: Remember Alphonso, the startup acquired by LG Ads? That was Shubham, building teams from 3 to 300! Talk about building bridges!
Tanmay, the Tech Tony Stark: This tech whiz builds products like they’re second nature. He can’t stand manual work and has a knack for creating solutions that do the heavy lifting. Data science manager at Wakefit? That was his last job challenge stint that he conquered!
But wait, there’s more! Their company culture is anything but boring. They’re a fun-loving bunch who believe in open communication, killer adrak waali chai, and the occasional game of Mafia/Imposter.
Hiring Funda
They look for smart, passionate folks who are up for a challenge and don’t shy away from a good laugh. Think you’ve got the Dash? Drop them a line!
So, that’s their story – not your typical startup origin, but definitely one fueled by friendship, passion, and maybe a sprinkle of theatrical flair.
Once upon a brainstorm, Dashhire was born – committed to lightning-fast recruitment. “Finding Talent Faster Than You Can Say Espresso” became their rallying cry. Their logo? A sleek “D” with an ascending ladder, symbolizing their swift ascent above the competition. Connect with Dashhire for seamless, satisfying hiring.
Dashhire – Business and Revenue Model
Talent Search: Find hidden gems with its expert Talent Scouts.
Interview as a Service: Let its Interview Ninjas handle the tough questions. It is a Pay-Per-Interview model: Each interview is a mini-quest priced by candidate seniority and skills.
Executive Search: Summon seasoned leaders with its Executive Search Sorcerers.
Started with their OG network, charming them into trying their platform. Word-of-mouth spread rapidly, leveraging the power of a good product and networking.
Moral of the Story: Start small, leverage your network, and deliver a great product. Your next big user might be just around the corner.
Dashhire Team Members
Dashhire – Challenges Faced
Dashhire faced significant challenges while building their Interview as a Service (IAAS) product. Ensuring the quality of interviewers was paramount. They tackled this by developing innovative algorithms to analyze both soft and hard skills, ensuring only the best interviewers joined their team.
Initially, recruiting team members was tough. With no track record, convincing talent to join was like climbing a mountain without ropes. However, they persevered, using passion and countless conversations to win over allies.They experimented with different recruitment tactics, learning from both successes and failures. From informal meetups to skill-based workshops, they explored various avenues to attract talent and build a sense of community.
Their unwavering pursuit of excellence, combined with belief in their vision, helped them overcome challenges. Through innovation, perseverance, and lots of coffee, they laid the foundation for a company redefining interviews and recruitment.
Dashhire – Competitors
Some of the top competitors of Dashhire are:
Pesto Tech
Weekday
FAQs
What does Dashhire do?
Dashhre is an innovative tech recruitment firm, that pioneers to find the solution to the perennial challenge of tech talent hiring for burgeoning startups.
Who are the founders of Dashhire?
Tanmay Daripa, Shubham Jain and Abhishek Sultania are the founders of Dashhire.
When was Dashhire founded?
Dashhire was founded in 2020.
Who are Dashhire’s Competitors?
Pesto Tech and Weekday are the top competitors of Dashhire.
The healthcare industry is one of the most prominent industries in the world. It is the industry that keeps coming up with new innovations and technologies to help people improve their lives and increase their lifespan.
However, in many cases, new scientific technologies and innovations are put to the test, and an important Indian medicine system like Ayurveda proves to be more useful. Here, a great example of a healthtech platform is LifeChart which bridges the gap between Ayurveda, science, and technology and helps provide authentic alternative wellness solutions.
In this article, learn more about LifeChart Ayurveda, its founder, its business and revenue model, its future plans, and more.
Established in 2021, Lifechart Ayurveda proudly holds the distinction of being India’s sole alternative healthcare company exclusively specializing in digital end-to-end gut solutions grounded in the principles of Ayurveda. Their commitment is unwavering – to redefine health and well-being by adopting a holistic approach to gut health. What sets them apart is its unique fusion of cutting-edge technology with the proven efficacy of ancient Ayurvedic wisdom, heralding a revolutionary change in the health and well-being of millions of Indians at affordable costs.
At the core of their mission is the belief that Ayurvedic solutions should be accessible to all. Lifechart is dedicated to making the transformative benefits of Ayurveda available to a diverse audience, ensuring that its platform remains a beacon of affordability in the realm of alternative healthcare.
A key distinguishing factor for Lifechart is its introduction of an AI-based diagnosis platform, working in tandem with expert solutions from certified Ayurvedic doctors. This innovative synergy isn’t just transforming the health landscape in India; it’s making a significant impact on alternate healthcare ecosystems across the globe. Lifechart is pioneering a transformative journey, where the marriage of technology and ancient healing traditions is creating tangible, positive changes in the lives of individuals seeking comprehensive and effective gut solutions.
LifeChart Ayurveda – Industry Details
The Ayurveda market is substantial, valued at $6.5 billion in 2020 and projected to reach over $20 billion globally with a CAGR of 15.63%. Lifechart targets a significant portion of this market, particularly in India, where a vast majority of the population uses Ayurveda products. Their startup has captured a growing share of this market by addressing the unmet need for effective and affordable gut care solutions.
Lifechart’s vision is to create the world’s largest community of Alternate healthcare professionals & paitents compare them to the next EU YAN SANG or Herbalife from India, where at present they will specialize over Gut health as a category & shall be launching nearly 50-60 new products under the same, their AI has predicted Gut health as a new growing demand for Bharat & world & they want to become a specialist curative brand rather many other generalist competitors. They are also coming up with a few unique distribution strategies for their TG which is middle class tier 2 & tier 3 Bharat, which would enable door step diagnosis testing, doctor consulting & products distribution at much more affordable rates to bridge the gap between cream Ayurveda & genuine users.
Their team consists of 30 dedicated professionals, including the co-founders: Mukul (CEO): Responsible for growth, finance, investments, marketing.
K Sandeep (CTO): In charge of developing a scalable tech stack powered by AI and ML engines.
Mansi Sharma (COO): Oversees operations, customer experience, new product development, and compliance.
LifeChart Ayurveda – Startup Story
For the last 30 years, Mukul Shah’s mother has been suffering from Type II diabetes. The usage of general medicines for many years affected her kidneys, resulting in poor digestion, and other problems. This led Mukul to look out for alternative solutions, and most of his research was pointing towards Ayurveda treatment, he says. “When Mukul started looking for Ayurveda doctors, there was no way to find qualified Ayurveda doctors, but luckily a friend of mine recommended an Ashram, which was located 250 kms away from Delhi. But there was no proper booking management system and it was not digitised,” says Mukul.
However, Mukul managed to take his mother to the Ashram for consultation. After going through the programme for six months, he noticed a drastic change in his mother’s health, and her dependency on modern medications was reduced to 20%. “That is when Mukul decided to create an alternate healthcare ecosystem for India and the world, and that is how Lifechart was born,” states Mukul. In order to test its prototype, they made a MVP App with a single solution to connect patients to BAMS Ayurveda doctors, the App got listed on playstore & within 2 -3 months they had nearly 49k downloads with 4.5 star rating, they were doing like 2000- 3000 consultations a month, this was enough for them to validate the prevalent gap in the market.
Recognizing the pervasive impact of lifestyle issues on the gut health of nearly 7 out of 10 Indians, the imperative to establish a tech-driven Ayurvedic gut specialist brand was undeniable. This realization served as the cornerstone for the inception of Lifechart Ayurveda, positioning itself as India’s pioneer and exclusive gut- specialist platform. Here, customers gain access to a comprehensive suite of offerings, including tech-based diagnostics, the expertise of certified Ayurvedic practitioners, rigorously tested gut-specialist formulations, and personalized after-care programs.
The core philosophy behind Lifechart is rooted in addressing the pressing need for specialized care in gut health, a critical aspect of overall well-being often overlooked. Their commitment to providing holistic solutions is evident in their unique offerings, making Lifechart the forefront leader as India’s premier gut specialist brand. What sets them apart is their relentless focus on research-based and technology-backed Ayurvedic solutions, ensuring that their customers receive the highest quality of care.
Today, Lifechart has solidified its position as the country’s preeminent gut specialist brand, proudly holding the title of India’s number-one choice for those seeking research-based, technology-driven Ayurvedic solutions.
LifeChart Ayurveda – Mission and Vision
Vision: Lifechart aspires to emerge as the foremost global leader in technology-driven platforms, delivering personalized, reliable, and cost-effective Ayurvedic gut-care solutions for both preventive and curative dimensions of health and well-being to a diverse global audience.
Mission: Rooted in a profound commitment to making a positive social impact, Lifechart is dedicated to pioneering a transformative shift in alternative healthcare. The company aims to achieve this by providing secure, effective, and dependable Ayurvedic formulations specialized for optimal gut health, thus contributing to the overall well-being of individuals globally.
Core Belief: At its core, Lifechart operates under the belief that health is an all-encompassing journey, and a balanced gut plays a pivotal role in overall well-being. The company firmly believes in the transformative potential of Ayurveda, seamlessly integrating ancient wisdom with cutting-edge technology to offer individuals the tools they need to proactively manage their health. Lifechart’s fundamental philosophy revolves around empowering individuals to embrace a proactive approach to their well-being through accessible and personalized Ayurvedic solutions.
LifeChart Ayurveda – Name, Tagline and Logo
LifeChart Ayurveda Logo
Name: LifeChart
Tagline: Making Holistic Alternate Health Available Instantly
LifeChart Ayurveda – Product/Services
Lifechart Ayurveda takes pride in seamlessly merging technology with ancient wisdom to offer comprehensive gut-care solutions to the masses. Their technology-based diagnosis ensures end-to-end gut solutions, facilitated by a network of over 500 certified BAMS doctors. These highly qualified practitioners provide free consultations and prescriptions based on patients’ past records, health conditions, and genetic makeup.
A key differentiator for them lies in maintaining the highest standards of quality and purity in their herbal formulations. All their Ayurvedic medicines are fully developed, formulated, and produced in-house, undergoing rigorous safety and quality checks before reaching consumers. Approval from leading certifiers, including the reputable quality testing agency FICCI Labs, underscores the credibility of their formulations.
What sets Lifechart apart is its customer-centric approach, allowing it to deliver top-notch gut solutions at affordable and value-for-money prices. As India’s first Gut health-tech company, they are dedicated to building an alternate healthcare ecosystem that reaches the masses of Bharat, ensuring accessibility at an affordable price point.
Their vision goes beyond providing solutions; they aim to transform the patient experience in underserved markets by bridging existing gaps in primary healthcare. Through their unique business model, which incorporates an AI-based platform, they not only connect patients with Ayurveda doctors instantly but also offer doctor-formulated Ayurvedic products, clinically tested and followed by disease recovery patient care management programs – all under one roof.
In its commitment to innovation, they are developing a platform that not only bridges the gap between patients and premium Ayurveda but also looks ahead to predicting future diseases region-wise and suggesting health improvements. Their approach involves refining formulations based on past results and providing advanced diagnostic tools for Ayurveda doctors, ensuring a holistic and predictive healthcare experience for its users.
As mentioned above Lifechart, they stand as India’s pioneer Gut health-tech company, dedicated to constructing an alternative healthcare ecosystem that caters to the masses of Bharat at an affordable price.
Their vision revolves around transforming the patient experience in underserved markets by addressing gaps prevalent in primary healthcare. A source of pride for them is its swift connectivity between customers and Ayurveda doctors, achieved within 60 seconds through AI-based technology. This seamless connection allows them to offer not just instantaneous access but also doctor formulated, clinically tested Ayurvedic products. These are complemented by comprehensive disease recovery patient care management programs, all consolidated under one roof.
Their business model is characterized by a distinctive blend of AI-based platform approaches. This not only bridges the gap between patients and premium Ayurveda care but also heralds the future by predicting diseases region-wise, suggesting health improvements, and refining formulations based on past results. As part of their commitment to innovation, they are developing advanced diagnostic digital AI-based tools tailored for Ayurveda doctors, ensuring a comprehensive and predictive healthcare experience for all its users.
LifeChart Ayurveda – Customer Growth and Retention Strategies
Fortunately, they identified a significant industry gap in the challenge of finding Ayurveda doctors and receiving accurate diagnoses. Many existing options prioritize product sales over a systematic diagnostic approach. Their unique approach involves building a community by empowering one million Ayurveda doctors, providing them with a competitive advantage. Focusing exclusively on Gut products further established their brand as a specialized solution for gut-related issues. As a result, their strategies and effective products have contributed to a consistent monthly growth of 20-30%, with a remarkable 40% repeat customer rate.
LifeChart Ayurveda – Challenges Faced
Their primary challenge was entering the crowded market of Ayurvedic products without prior expertise. They aimed to challenge the prevailing perception that Ayurvedic treatments deliver only a placebo effect with minimal or no long-term results. To address this, they conducted extensive research with their team of doctors and established their own research and development (R&D) team called Lifechart Labs.
Lifechart Labs is dedicated to formulating its products, subjecting them to rigorous lab testing for efficacy and results, and ensuring the elimination of side effects. Their in-house team of doctors, boasting a combined experience of over 100 years, leads this effort. This decision stemmed from its initial experience with D2C brands that outsource manufacturing without conducting thorough R&D. Realizing the lack of quick and measurable results in such products, they shifted their focus to establish their own R&D unit.
LifeChart Ayurveda – Growth
In the last 6 months of their inception, their revenues have been growing at 30% MOM and achieved the ARR of 2- 2.4 cr. With strong technology, product mix & distribution models, they have touched the lives of 100,000 customers. After the closure of its current seed round which is 70% subscribed the company aims to close FY24- with a Net Revenue of 40cr & building on this continued growth they aim to touch INR 500cr net revenue number by FY-2026. They are coming up with new unique distribution channels involving a mix of mobility & Ayurveda at your door steps plan, these unique channels are were highly appreciated by Indian Government seed fund programs & Lifechart not only got selected out of 5000 applicants but grabbed an undisclosed grant & many other benefits from the SISF program incubated under Atal Incubation centre.
LifeChart Ayurveda – Funding
Lifechart has secured approximately $200,000 in funding from investors such as Nitish Mitterssain, Expertdojo, and Sunn91 Ventures. The founders have also invested around INR 20 lakhs to kickstart the business. Currently their new round is already 70% subscribed by marquee investors to name a few are marwari angels, Atal incubation fund & one of the biggest pharma listed companies with global presence along with another CAT A angel platform.
DATE
Stage
AMOUNT
Investors Name
May 2022
Pre seeding Funding
$200,000
Nitish Mitterssain, Expertdojo, and Sunn91 Ventures
LifeChart Ayurveda – Key Tools and Software
They have their own in-house CRM with its patented AI technology.
LifeChart Ayurveda – Awards and Achievements
The company has got 45k plus customers within 5 months of app launch and also sees a strong trend of 52% repeat customers month on month. At present, they have more than 100 plus Ayurvedic doctors who are all BAMS degree holders & affiliated with the Ministry of Ayush along with 50 plus mind counsellors.
Lifechart raised their pre-seed round in May 2022 which was oversubscribed from marquee investors like Nitish Mitterssain (Founder of Nazara technologies), Sunn91 Ventures, Sarath Sura, US-based VC Expert Dojo and a few other famous angel investors.
The brand won the second best health tech startup award 2022 by the NSDC (National Skill Development Corporation) in just 6 months of its inception.
Lifechart has been recognized by Silicon India under 10 best AYUSH startups in India.
LifeChart Ayurveda – Competitors
In the crowded Ayurveda market, their main competitors are D2C companies. However, Lifechart differentiates itself through cutting-edge technology, including AI-driven diagnostics and demand prediction. Additionally, their holistic ecosystem approach sets them apart, enabling them to provide a comprehensive range of alternate wellness solutions beyond Ayurveda. This differentiation positions them as a global player akin to EU YAN SANG from Bharat.
LifeChart Ayurveda – Future Plans
As part of its ongoing innovation, its upcoming AI features will provide Ayurveda doctors with highly effective digital diagnosis tools. This empowers them to enhance their diagnostic capabilities, leveraging patient historic data and facilitating more precise and personalized treatment recommendations. Their commitment to advanced technology sets them apart in delivering comprehensive wellness solutions.
LifeChart Ayurveda is India’s first holistic alternative health-tech platform that caters to the overall well-being of individuals. The fast-growing health tech brand is striving to build an alternate healthcare ecosystem that benefits people in India and overseas.
Who is the founder of LifeChart Ayurveda?
Mukul Shah is the founder of LifeChart Ayurveda.
When was LifeChart Ayurveda founded?
LifeChart Ayurveda was founded in the year 2021.
Where are LifeChart’s Ayurveda headquarters?
LifeChart’s Ayurveda headquarters are situated in Gurugram, Haryana, India.
Peer-to-peer networks and online lending platforms have completely changed the borrowing experience by providing easy access to microloans that are customized to each borrower’s needs. These innovations, which provide transparent terms and alternative credit assessments, enable people to satisfy their everyday financial needs without the obstacles associated with traditional banking, resulting in a more equal and accessible lending environment.
A few clicks are now all it takes to apply for a small loan thanks to the rise of creative fintech businesses. KreditBee is a noteworthy instance that has transformed borrowing for young professionals. When KreditBee was founded in 2018, its goal was to make it easier for the New-to-Credit (NTC) population in India to be included in the Credit Bureau system so they could get loans from banks and conventional Non-Banking Financial Companies (NBFCs).
KreditBee’s intuitive platform and customized services have simplified the loan application procedure, increasing accessibility to financial aid and enabling people to successfully establish credit histories.
Know the KreditBee Startup Story, Founders, Business Model, Funding, and more.
KreditBee – Company Highlights
STARTUP NAME
KREDITBEE
Headquarters
Bangalore, Karnataka, India
Sector
FinTech
Founders
Madhusudan Ekambaram, Karthikeyan Krishnaswamy and Vivek Veda
KreditBee is an Instant Personal Loan platform for self-employed and salaried professionals, where they can apply for a Personal Loan up to Rs 5 lakh as per their requirements. It is a full-stack Digital Lending Platform, with the entire life cycle of the loan, starting with its origin to application to disbursement and repayment, being completely online. People can avail loans from their smartphones directly into their bank accounts at any given point in the day or week.
The platform looks at alternative lending data points beyond salary and bureau score and is hence able to disburse to young professionals who are new to credit and are non-salaried (part-timers, freelancers, and self-employed).
KreditBee – Industry
The Mordor Intelligence research analysis indicates that the fintech market in India is expected to grow significantly. The market, which is expected to be valued at USD 111.14 billion in 2024, is anticipated to grow at a strong CAGR of 30.55% to reach USD 421.48 billion by 2029. Numerous factors, such as improved regulatory frameworks, growing digital adoption, and technology improvements, support this growth trajectory.
Innovation is being driven by major participants in the Indian fintech environment in the areas of banking, payments, lending, wealth management, and insurance. As seen by recent developments, the Indian fintech business offers a dynamic and exciting landscape for players, with minimal market concentration and plenty of room for expansion.
KreditBee – Founders and Team
Madhusudan Ekambaram (Co-Founder and CEO), Karthikeyan Krishnaswamy (Co-Founder and CTO), and Vivek Veda (Co-Founder and CFO) are the Co-Founders of KreditBee.
Madhusudan Ekambaram
Madhusudan Ekambaram (Co-Founder and CEO) of KreditBee
KreditBee Co-Founder and CEO Madhusudan Ekambaramhas a BE in Information Technology from the National Institute of Technology Karnataka. He had 11+ years of experience in Product Portfolio Management prior to starting up. Madhusudan also own Rasthrapathi Puraskar (President’s Award) and the Rajya Puraskar (Governor’s Award) for his services as a Scout with the BSG organization.
Madhusudan looks after conceptualization of the business product, strategic initiatives, investor management, and fundraising aspects of KreditBee. He is also the Co-Founder of the Fintech Association for Consumer Empowerment.
Karthikeyan Krishnaswamy
Karthikeyan Krishnaswamy (Co-Founder and CTO) of KreditBee
KreditBee Co-Founder and CTO Karthikeyan Krishnaswamy has a Bachelor of Computing (Honors) and a Masters of Computing in Computer Science from the National University of Singapore. He had 12+ years of experience in technology and products prior to starting up.
Vivek Veda
Vivek Veda (Co-Founder and CFO) of KreditBee
KreditBee Co-Founder and CFO Vivek Vedahas aCA from ICAI. He has 14+ years of experience in Investment and Retail Banking prior to starting up. In addition, he serves as director of the systemically significant NBFC Krazybee Services Private Limited.
KreditBee has 1001–5,000 employees, as per LinkedIn.
KreditBee – Startup Story
Madhusudan has always been intrigued by the way personal finance and lending work in India, and he wanted to change things for the better. In 2016, Madhusudan, along with his co-founders, started KrazyBee, India’s first online installment store for students.
KrazyBee lets students purchase goods online via its flexible monthly payment plans. With its innovative approach, KrazyBee emerged as a market leader within six months of its inception.
The company’s objective was to grow and become a fully digital lending platform, and in 2018 KreditBee was founded as a result. They moved closer to their objective of providing seamless financial services via digital channels. They position themselves to meet the changing needs of borrowers and offer effective, easily accessible loan solutions in the digital era by taking a forward-thinking strategy.
KreditBee – Mission
The company’s mission on its websites states “to deliver exceptional value to borrowers through its online credit marketplace.“
The fundamental component of KreditBee’s business model is providing easy and fast personal loans to a wide range of customers, such as freelancers and professionals with steady jobs. Borrowers have access to a variety of loan choices, ranging from modest to considerable amounts, through their online platform.
These options are tailored to fit different financial demands. Furthermore, KreditBee uses affiliate revenue to improve its services in partnership with top companies like Flipkart, Amazon, MakeMyTrip, and Myntra, among others. By offering extra advantages and opportunities, this network of strategic partnerships enhances the borrower experience even more and reaffirms KreditBee’s dedication to provide complete financial solutions.
KreditBee – Revenue Model
KreditBee makes money from different resources; some of the prominent ones are:
Interest Income: In addition to acting as a digital lending platform, KreditBee earns a substantial amount of money from interest on the loans that it makes available to borrowers. This interest income, which is earned from the interest rates applied to the principal loan amounts given to users, is a crucial component of the business’s revenue stream.
Affiliate Income: KreditBee generates extra income by forming smart alliances with well-known online retailers like Flipkart, Amazon, MakeMyTrip, and Myntra, among others. KreditBee generates affiliate revenue by promoting these partner platforms and facilitating transactions. One noteworthy feature of this revenue stream is that KreditBee’s customers receive a piece of the affiliate money, which improves the value proposition overall and increases customer loyalty.
Commissions from Lenders: By collecting commissions from the lenders it brings on board for its platform, KreditBee increases its earnings even more. Usually, a number of variables, including loan volume, client acquisition, and loan performance, determine these commissions. KreditBee is essential to loan transactions since it connects lenders and potential borrowers and receives commissions in return.
KreditBee – Challenges Faced
Financing self-employed people and those with no credit history is one of KreditBee’s main challenges. They are working to improve their digital underwriting method. In order to overcome this obstacle, the group need to keep improving their plan through the integration of various data sources, the improvement of machine learning algorithms, the analysis of behavioral patterns, consumer education, and regulatory compliance.
The goal of this iterative approach is to increase forecast accuracy and increase underprivileged communities’ access to financing. This diverse strategy demonstrates KreditBee’s dedication to diversity and innovation in the field of digital lending.
“The idea behind constant improvisation of the digital underwriting mechanism is to constantly identify parameters which give a good indicator of not just the repayment capability, but also their intent. We have over 6500 data variable identified from over 120 data sources based on which we do our credit decisions.” Madhusudan quotes
KreditBee – Funding and Investors
KreditBee has raised a total of $353.25 million in six rounds of funding.
Here are the funding details:
Date
Fundingf Round
Amount
Investors
Mar 29, 2024
Series D
$ 9.4 million
Premji Invest, Motilal Oswal Private Equity, and Mirae Asset
Jan 6, 2023
Series D – KreditBee
$ 200 million
Advent International
Dec 2, 2022
Series D – KreditBee
$ 80 million
PremjiInvest
Jun 2, 2021
Venture Round – KreditBee
$ 8.2 million
India SME Investments
Mar 22, 2021
Series C – KreditBee
$ 70 million
Motilal Oswal Private Equity, NewQuest Capital Partners
Feb 15, 2021
Series C – KreditBee
$ 75 million
–
KreditBee – Growth
KreditBee’s growth highlights are:
It has served 10 million customers across the country as of March 2024
The company has 3.5 million active users as of January 2023
It has provided over $7 million in loans to customers as of January 2023
It has provided up to Rs 4 lakh to professionals as of January 2023
KreditBee – Advertisements and Social Media Campaigns
KreditBee Campaign
The idea behind the initiative is to make loans up to Rs 3 lakh easily accessible through a straightforward, mobile-first application process. With a focus on simplicity and speed, it guarantees that the entire process, from application to disbursal, takes only ten minutes, allowing customers to quickly receive funds immediately into their accounts.
The commercial films that go along with it emphasize how unpredictable life may be by showing situations in which people can need extra money out of the blue. The KreditBee app responds to these circumstances by giving customers the ability to obtain rapid loans whenever they need them, offering financial support when it’s most required.
KreditBee is planning to raise more money through a new round by the end of 2025, and that the company is expected to grow significantly in the years to come. The company’s objective is to prolong its financial runway for a minimum of 12-14 months, with a strategic emphasis on strengthening its assets under management (AUM) as per news report of December 22, 2023. This suggests a strong dedication to long-term growth and bolstering its market position. The CEO of KreditBee also stated that the company plans to go public in less than three years.
The company’s confidence in its business strategy, market potential, and ability to successfully traverse the regulatory landscape is demonstrated by this ambitious ambition. Through the pursuit of these strategic initiatives, KreditBee hopes to establish itself as a prominent participant in the fintech industry and open up fresh avenues for growth and value generation.
FAQs
Who is the owner of KreditBee?
Madhusudan Ekambaramis the CEO and Co-Founder of KreditBee.
What is the kreditbee revenue?
KreditBee’s operating revenue was Rs 71,700 lakh in FY23.
What happens if you don’t pay a KreditBee loan?
If you don’t repay your loan on KreditBee, your CIBIL score will get affected, which will affect your ability to avail loans from any bank or financial institution in the future and you will automatically be ineligible for availing quicker Personal Loans of a much higher value from KreditBee in the future.
India’s Nutritional Supplements Market was valued at U$ 11.85 billion in 2023 and is projected to hit the market valuation of US$ 28.70 billion by 2032 at a CAGR of 10.7% during the forecast period 2024–2032.
Nveda is a fast-growing brand engaged in bringing high quality Nutritional and health supplements using natural ingredients and herbs to treat & prevent various lifestyle diseases.
In this article, learn more about the Nveda Founder, Products, Challenges, Competitors, Mission and Vision, Business and Revenue Model, among other details.
Their Company Bellavita Healthcare Pvt Ltd was launched in Dec 2009. Sanjay was working as a consultant to various importing companies for their import of pharmaceutical & Nutraceutical products from India. Brand Nveda was launched in April 2018. Since then Sanjay has been working exclusively on the development of this brand.
Nveda – Industry
The total market size is $10 Billion. Industry is growing at a CAGR of 15%. They are looking at Brand Nveda amongst the top 5 in a few of the Nutraceutical categories like Arthritis, BP & Diabetics.
Nveda – Founders and Team
Sanjay Mitra – Founder of Nveda
Sanjay Mitra, a single promoter with education from IIT BHU and IIFT, boasts over 30 years of experience. His past roles include serving as the Country Manager for Dabur International in CIS Countries and working as a Pharmaceutical Consultant from 2009 to 2017. He began working on the products in 2016 and successfully launched the brand Nveda in April 2018.
Nveda – Startup Story
During one of his routine Annual Checkup, Sanjay was diagnosed with High Cholesterol. He was prescribed Statins, and after a month He became Diabetic. Then Sanjay was asked to go for Diabetic medicine. He stopped the Cholesterol medicine and his blood sugar became normal. This was the starting point for working on this project of Alternate Therapy.
Having worked in the Pharmaceutical and Nutraceutical industry, He had good access to data for progress in different ingredients for some critical diseases like Arthritis. After launching products for Arthritis, BP & Diabetics, through customer feedback They realized there was gross overselling of many pharmaceutical products and services primarily for commercial consideration. This made them to launch new products so that for the initial stage of most diseases one can manage through these supplements.
Nveda – Vision and Mission
There is a limitation and lack of effective results with regular medicines for some of the very common diseases. They are bridging this with their range of Nutraceutical & Ayurvedic supplements.
As They are working on Natural & Ayurvedic Supplements, N comes from Natural and Veda from Ayurveda.
Nveda – Product/Services
Nveda Products
They have worked on their supply chain to get the best possible prices. The main raw material is Imported by them directly to ensure quality. Formulations have been developed to ensure maximum benefits for particular diseases.
Nveda – Business and Revenue Model
They are targeting the D2C market i.e. direct to consumer through online direct & marketplaces.
Nveda – Launching Company Strategies
They first launched Nveda Joint Support and Nveda Omega 3 Fish Oil, there were many people in their circle who were suffering from Arthritis. So getting the first 100 customers was primarily through word of mouth. The challenge was to maintain the supply chain and ensure the quality of Nutraceutical products. Initially, they used ads in Marketplaces.
Nveda – Advisors and Mentors
A Friend Gunjan Kumar is advising and helping them in importing and sourcing products. He is a Graduate from JSS College of Pharmacy and has more than 20 years of experience in sales and manufacturing of Pharmaceutical products, having worked with companies like Sanofi, GSK & IPCA.
Nveda – Customer Growth and Retention Strategies
In March 2023, the company surpassed monthly sales of Rs. 1 crore. By April 2023, Nveda Calcium Complex emerged as a bestseller on Flipkart, followed by Nveda Joint Support achieving the top position in its category on Amazon in June 2023.
September 2023 marked the commencement of 3PL operations with Emiza for warehouses located in Gurgaon, Bhiwandi, and Kolkata. Subsequently, by October 2023, Nveda Calcium also attained the number one position in its category on Amazon.
Additionally, the company allocates 30% of its budget to performance marketing channels such as AdWords, Facebook, Taboola, Criteo, PR campaigns, and influencer marketing.
Nveda – Challenges Faced
The most challenging part for them was during the Covid period in 2020 and 21 when their supply chain was completely disturbed. They supplied to customers who were regularly using their product and stopped completely acquiring new customers during this period.
Nveda – Growth
2 of their products are bestsellers on Amazon and one in Flipkart in their respective category.
Nveda – Marketing Strategy
They rely on a full stack of marketing plans with adword, Facebook, Taboola, Criteo, PR & Influencer marketing.
Getting a home loan is a big step toward owning a home, providing financial assistance to make your dream a reality. The Indian home loan market, valued at approximately USD 300 billion, is expected to achieve a CAGR of 22.5% during the forecast period from 2024 to 2029.
However, securing a home loan is not a simple process. While inherently complex, home loans have now embraced automation significantly. In this industry, a company making strides is BASIC Home Loan. The company stands out as India’s pioneering automated platform for secured lending, with a specific focus on the affordable housing segment.
In this article, learn more about the BASIC Home Loan, how it started, its founders, business model, products, and services, among other details.
The adoption of new technologies has changed everything in how they live their lives. From ordering food to booking a cab to banking, there always seems to be an app for that. However, from a borrower’s perspective, the home loan process remains the most time-consuming and tedious job, requiring them to be physically present at a bank branch.
At BASIC, they want to empower consumers with technology, simplify the process of home buying, and bring financial stability to the lives of families in India. They are here to digitize and automate the home loan origination, documentation, customer verification, and disbursement process from the comfort of their homes.
Founded in 2020, BASIC Home Loan is a fintech company, developing an automated platform for home lending in India. They at BASIC, are building India’s first Neo-Housing Finance Company (Neo-HFC) to increase the penetration of affordable home loans. Banks operate through a branch-led model with fixed costs, so they prefer big-ticket loans to justify unit economics. On the other hand, HFCs lack technology & product innovation and have opaque and tedious offline processes. BASIC utilizes technology & product innovation to convert fixed branch costs to variable costs along with providing a convenient customer experience.
While mortgages in India face challenges due to the absence of a centralized property database and offline requirements mandated by the Reserve Bank of India (RBI), BASIC Home Loan has devised an effective solution. Using their Phygital approach, loan sanctioning occurs through a digital and paperless journey. At the time, offline fulfillment is facilitated by an asset-lite agent network comprising professionals such as Chartered Accountants (CAs) and property dealers.
Since their inception, they have successfully collaborated with 70 lenders and disbursed INR 7000 crores of loans. They prioritize sustainable growth and have achieved profitability in its core business since March 2021. Their commitment to delivering a seamless and stress-free experience for mid and low-income households drives them to continuously innovate and improve.
BASIC Home Loan – Industry
The Indian housing finance industry is on a trajectory of significant growth, driven by increasing demand for housing, supportive government policies, and technological advancements in the fintech sector. Based on this dynamic environment, BASIC Home Loan is strategically positioned to capitalize on these trends.
Industry and Target Market Size: The industry’s target market size can be estimated based on the Reserve Bank of India’s data and research reports from brokers and industry analysts. With the total value of housing in India estimated at nearly Rs 150 lakh crore and the increasing trend of residential housing loans as a share of total loans, the demand for new home loans is substantial.
Target Market Size for New Home Loans:Approximately USD 175 billion, including the secondary market.
Affordable Housing Segment: This represents about 50% of this target market, indicating a significant portion of demand stems from the affordable housing sector.
These figures were derived from authoritative sources like the RBI, along with broker and industry reports, providing a reliable basis for understanding the market’s scale and potential growth areas.
Market Share: Calculating their current market share involves comparing their loan disbursements against the overall market size for home loans in India. With the focus on digitizing the home loan process and targeting the affordable housing segment, its ability to capture a larger market share will hinge on scaling its operations, broadening its lender network, and enhancing its technological offerings.
Industry Outlook in the Next Five Years: Growth to USD 300 Billion: The industry is expected to grow to approximately USD 300 billion in new home loans by FY 2028, driven by population growth, urbanization, rising income levels, and government initiatives promoting affordable housing.
Technological Advancements: Fintech innovations will continue to reshape the housing finance landscape, making processes more efficient and accessible.
Increased Digitization: The trend towards digitization will accelerate, with more consumers expecting seamless online loan applications, approvals, and disbursement processes.
BASIC Home Loan’s Outlook: In the Next 5 Years: They aim to significantly increase their market share within the growing industry, especially in the affordable housing segment. The company plans to expand their services to more cities, enhance their technological platform, and deepen their integration with lenders to offer a wider range of products.
In the Next 10 Years: Looking further ahead, they envision becoming a leading player in the Indian housing finance market, synonymous with accessible, efficient, and innovative home loan solutions. The company anticipates expanding its product offerings beyond home loans to include related financial services and becoming a comprehensive platform for all housing finance needs.
BASIC Home Loan – Founders and Team
Atul Monga Founder & CEO (Right) and Kalyan Josyula Founder & COO (Left) – Founders of BASIC Home Loan
Atul Monga, Founder & CEO of BASIC Home Loan
Atul Monga is the Co-founder and CEO of BASIC Home Loans – a startup working on digitizing home loans and increasing affordable loan penetration for middle and low-income households. Atul found that the affordable housing market has vast potential in his career, yet ecosystem players ignore it. Through BASIC, he wants to ensure hassle-free loans with its automated platform. Before starting his venture, Atul worked in the Indian fintech industry, where he set up and led businesses for various digital lenders. He is an ex- PolicyBazaar and Credit Suisse. He has been an Intrapreneur at Three FinTech and a Mechanical Engineer from IIT Delhi.
He was also an investment banker and helped raise capital for Rubique Technologies – a fintech marketplace, Dogspot- India’s biggest online platform for Dogs, Cats, and small pets, and Disha Solar- a solar power installation services provider. Atul’s journey spans from being an Investment Banker and Angel Investor to becoming a technopreneur and a fintech specialist. He has held many leadership roles and helped companies in strategic alliances and partnerships, managed their operations, and executed several financial transactions for global companies, which included IPO, M&A, and other equity & debt products.
Kalyan Josyula, Co-Founder & COO of BASIC Home Loan
Kalyan Josyula is the Co-Founder & COO of BASIC Home Loan a platform for automating home loans for middle & low-income households in India. Kalyan is an ex-investment banker and consumer internet business specialist, who has 15+ years of cross-functional (Corporate Finance, Strategy, and Operations) experience in building organizations across e-commerce marketplaces & ride-hailing start-ups in India, SEA & Middle East. Kalyan has played a variety of roles across industries and has worked with large companies such as OLA Cabs, Lazada Group, and Credit Suisse. He has a strong analytical mindset and finance domain expertise, including deep know-how of IT solutions and financial modeling skills. He enjoys planning & executing operational strategy, particularly turning KRAs into actionable targets with budgets and measurable KPIs.
BASIC Home Loan – Startup Story
It all started with the pandemic and the migration of the working population from tier-1 cities to tier-2 and beyond. There were not enough houses for them to set up a living and they opted for renting as a solution. This is what his team and Atul saw as the starting point of BASIC Home Loan’s journey.
Nearly 17 percent of the world’s homeless population lives in India. As many as 78 million Indians live in slums. Home loan is considered inaccessible and unaffordable in tier-2 and -3 cities, as banks do not have many branches. While most fintech firms are focused on instant personal loan disbursement, BASIC Home Loan wanted to disrupt the housing loan category.
In a concise span of a little over 1,000-day journey, the company has helped 80,000+ citizens from nondescript backgrounds to have a house of their own. Researching and validating the idea involved a multi-faceted approach. Initially, they conducted an extensive market analysis to understand the current landscape of the housing finance sector, the challenges faced by consumers, and the operational models of existing banks and HFCs (Housing Finance Companies).
This research highlighted the pressing need for innovation in the sector and the potential impact of a digital solution. To further validate the idea, Atul engaged with potential customers through surveys and interviews to gather insights into their experiences, pain points, and expectations from the home loan process. The feedback overwhelmingly pointed towards the need for a simplified, faster, and transparent process.
Designing and prototyping the initial concept of BASIC Home Loan involved leveraging technology to create a user-friendly platform that could automate and streamline the home loan origination, documentation, and disbursement processes. The goal was to develop a ‘Phygital’ model that combines the efficiency of digital processes with the assurance of physical interactions through an agent network. This approach was designed to cater to the diverse needs of their target audience, including those not fully comfortable with digital transactions.
The lending ecosystem in India has been in the process of digitizing for some time. A lot of innovation has happened in the personal and business loans space. But when it comes to home loans, the process is still very traditional and the digital penetration has not increased much.
As a percentage of GDP, mortgages are still around 11 percent. The overall mortgage industry remains an offline industry primarily because India doesn’t have a centralized database of property ownership.
Long-Term Vision: Long-term vision is focused on fundamentally changing how home financing is approached in India, particularly for affordable homes. The company aims to revolutionize the mortgage brokerage industry by becoming the largest online platform for this purpose in India. This vision extends to enhancing the home loan experience for middle and low-income households across the country, particularly in tier 2 and 3 cities.
Short-Term Vision: The short-term goals include making strides in areas such as loan origination, documentation, customer verification, and disbursement, making these processes faster and stress-free. The immediate goal is to provide end-to-end fulfillment through technology for quicker loan disbursements, thus reducing the time and effort traditionally associated with acquiring home loans.
Core Belief: The core belief behind BASIC Home Loan is rooted in the power of technology to simplify and enhance financial processes. The company believes in empowering consumers through digital solutions, making financial services like home loans more accessible, efficient, and user-friendly. This belief in technological innovation as a tool for financial inclusion and empowerment forms the foundation of the company’s operations and goals.
Motto: “To make home loans faster, stress-free & Basic for mid-&-low-income households,”.
BASIC Home Loan – Name and Logo
BASIC Home Loan Logo
The name “BASIC” was selected because it directly speaks to the foundational needs of individuals and families – that of securing a home. Housing, being one of the basic needs alongside food and clothing, represents a universal aspiration towards stability and security. The term “basic” also suggests simplicity and ease, reflecting the company’s mission to simplify the home loan process, making it accessible and straightforward for everyone.
This choice of name aligns perfectly with the company’s aim to address and fulfill a fundamental human need in the most uncomplicated manner possible.
Tagline: Ghar Ka ab Loan Basic Hai The tagline reinforces the idea that securing a loan for a home should not be a complex or daunting task. It emphasizes the company’s commitment to making home loans accessible, affordable, and straightforward for its customers. The tagline is catchy, easy to remember, and speaks directly to the target audience, assuring them that with BASIC Home Loan, the path to homeownership is clear and uncomplicated.
Logo: The logo, with its blue door, effectively conveys BASIC Home Loan’s brand ethos and service philosophy. It’s a visual promise of opening doors to homeownership, making the dream accessible and achievable for many. The imagery of the door, coupled with the company’s name and tagline, creates a cohesive and compelling brand identity that speaks directly to the aspirations of its target audience.
BASIC Home Loan – Product/Services
The goal of the company is to become the first neo-housing finance firm in India. Accordingly, BASIC has adopted a ‘phygital’ approach to disbursing home loans — customers and onboarded and verified online and an on-ground agent assists the customer in completing the application process, and helps the lender in evaluating the mortgage.
Here is an overview of their offerings:
Digitized credit policies with an industry-leading success rate of >75 percent
Customer verification/ Risk control (Digi Locker-verified customer screening and onboarding reduce fraud risk)
Disbursement support: From origination to registry – Agents do all
Customer convenience: Single point of contact for the customer, and they provide step-by-step tracking; The customer requires no branch visit
Ease of documentation
Problems Solved:
Complexity and Inaccessibility: Simplifies the complex and time-consuming home loan application process, making it accessible and manageable for customers, especially those in underserved areas.
Lack of Transparency and Choice: Provides transparency in loan products and offers customers a choice among various lenders, ensuring they get the best deal according to their eligibility.
Digital Divide: Addresses the digital divide by offering a phygital approach that combines online efficiency with offline, personalized support.
USP and Innovation:
Phygital Model: A hybrid model that combines digital innovation with physical agent networks to offer doorstep service, ensuring the inclusivity of digital and non-digital customers.
Product Eligibility Matrix (PEM): An innovative matchmaking engine that uses algorithms to recommend the most suitable loan products based on the customer’s financial and property profile.
Automated and Paperless Process: Streamlines the loan application, documentation, and verification process, making it faster, more efficient, and environmentally friendly.
BASIC Home Loan – Business and Revenue Model
They operate on a fintech business model that revolutionizes the traditional home loan process by digitizing and simplifying the way customers apply for and receive home loans.
Business Model:
Digital Marketplace: They function as a digital marketplace that connects customers looking for home loans with various banks and financial institutions. This platform allows customers to compare loan offers, apply online, and receive approvals, all in one place.
Phygital Approach: Combining digital processes with physical verification and assistance, BASIC Home Loan ensures that customers, even those in remote or underserved areas, can access their services. This hybrid model caters to the diverse needs of the Indian market, making home loans accessible to a broader audience.
Partner Network: They have established partnerships with over 75 lenders, including banks and housing finance companies (HFCs), allowing them to offer a wide range of loan products. This extensive network ensures that customers can find loan options that best suit their financial needs.
Revenue Model: Commission-Based: Their primary revenue stream comes from commissions paid by partner banks and financial institutions for each loan disbursed through the platform. This commission is a percentage of the loan amount disbursed to the customer.
Commission Structure: The commission rate paid by the banks to them can go up to 2.25% of the loan amount. This rate may vary depending on the lender, the type of loan product, and other factors.
Free for Customers: The service is offered free of charge to customers, aligning with their mission to make the home loan process more accessible and customer-friendly. By not charging customers, the company ensures that its services are accessible to a wider audience, particularly targeting mid and low-income households.
Profit Margin: BASIC Home Loan operates with a Contribution Margin 1 (CM1) of 35%. This margin reflects the company’s efficiency in generating revenue from its operations after variable costs associated with loan processing and disbursement are accounted for.
BASIC Home Loan – Challenges Faced
The most challenging part for BASIC Home Loan, like many fintech startups aiming to disrupt traditional sectors, was likely overcoming the regulatory complexities and consumer trust issues associated with digitizing the home loan process. The home loan sector, deeply rooted in traditional, offline processes, requires significant paperwork, and face-to-face interactions, and is heavily regulated. Changing this entrenched system to a digital-first approach posed substantial challenges.
Overcoming Regulatory Complexities:
Regulatory complexities present a significant hurdle, especially when attempting to digitize and streamline processes that have long been conducted offline due to legal and compliance requirements.
Engaging with Regulators: Proactively working with regulatory bodies to understand compliance requirements and how digital solutions could meet these standards without compromising the integrity or security of the loan process.
Building a Compliant Platform: Developing a platform that not only adheres to regulatory standards but also incorporates robust security measures to protect sensitive customer data. This involved investing in advanced encryption technologies and secure data storage solutions.
Continuous Monitoring and Adaptation: Keeping abreast of changing regulations and being agile enough to adapt the platform and processes accordingly. This required a dedicated legal and compliance team to ensure ongoing adherence to regulatory changes.
Building Consumer Trust: Gaining the trust of consumers used to traditional, in-person banking relationships was another significant challenge. BASIC Home Loan addressed this issue by:
Educating Consumers: Launching educational campaigns to inform potential customers about the benefits of digital home loan processing, including the efficiency, convenience, and security of the platform.
Transparent Processes: Ensuring that every step of the loan application, from submission to approval and disbursement, was transparent. Implementing real-time tracking tools allowed customers to view the status of their applications at any time, building trust through openness.
Providing Personalized Support: Despite the digital nature of the service, BASIC Home Loan recognized the importance of human interaction. By offering personalized support through dedicated relationship managers and an agent network, the company was able to provide the reassurance and guidance that many customers desired.
In summary, BASIC Home Loan overcame its most significant challenges through proactive engagement with regulators, investment in technology that meets legal and security standards, educational initiatives to build consumer trust, and the innovative use of technology to streamline and secure the home loan process. Through these efforts, the company has managed to not only navigate these challenges but also set a new standard for the home loan industry.
BASIC Home Loan – Marketing Strategy
One of their finest campaigns remains ‘Ab Ghar Ka Loan BASIC Hain’. The campaign resonated well with both the customers and their on-ground agents (christened as advisors). Besides, it also won numerous awards and accolades.
The campaign was executed strategically. An advisor (agent) was onboarded by just asking to fill out a simple form, and the same was projected through various advisor video testimonials with glimpses of the BASIC Home Loan Advisor App on YouTube and Facebook. #AgentNahiAdvisor: Being a home loan agent is not considered a reputed job because of the negative perception around the word ‘agent’. The campaign was designed to bring honor and respect to the profession. Additionally, various surveys were conducted to show user behavior, results of which were floated on social media organically to create interest among advisors as well as consumers alike. Nearly 60+ direct builder partnerships with tech integrations were initiated, all through organic touch points, with the core messaging leading the light, and 12,000+ ecosystem touch points were created through CAs, architects, property dealers, insurance agents, financial consultants, etc.
The next best campaign was centered around the launch of the BASIC Home Loan Agent App, designed to empower agents across India by leveraging technology to connect customers with a diverse range of banking products. The campaign aimed to attract potential agents by emphasizing the ease of earning, the transformative power of technology, and the reliability of the platform. Hosted on YouTube, the strategy included engaging content that showcased success stories and testimonials from existing agents, effectively highlighting the financial freedom and opportunities the app offers. The key messaging, “With BASIC Home Loan, success is guaranteed (Tarakki Pakki),” resonated with the target audience, emphasizing the potential for agents to build a lucrative career with the support of BASIC Home Loan’s innovative technology.
The outcome of the campaign was remarkable, leading to a substantial increase in the number of active agents on the platform, which in turn boosted sales and expanded BASIC Home Loan’s reach to more customers. This strategy not only enhanced the brand’s visibility but also reinforced its position as a leader in the tech-driven transformation of the home loan industry. The success of this campaign has laid the groundwork for future marketing strategies, establishing a model for leveraging digital platforms and narrative-driven content to attract talent and grow the business. Moving forward, BASIC Home Loan aims to scontinue innovating and scaling its operations, further democratizing access to home loans in India through technology and empowerment.
BASIC Home Loan – Recognition and Achievements
The company’s ‘phygital’ approach and marketing communications have been admired by the industry. It won the industry’s most prestigious awards namely :
Winner of Agency Reporter Stakes Award 2023 & 2022, Category: BFSI
Winner of Agency Reporter Stakes Award 2023 & 2022, Category: Integrated Marketing Campaign
Winner of Afaqs Startup Brands Award 2023, Category: Outstanding Use of PR
Winner of FiNext Award 2023, Category: Excellence in Finance – Lending
State Bank of India-Dun & Bradstreet Startup50 Trailblazer 2023
Entrepreneur India, STARTUP AWARDS 2023, Category: Best Social Impact Startup
Winner of AdGully IMAGEXX Award 2023, Category: BFSI
Winner of AdGully IMAGEXX Award 2023, Category: Brand Development (Service)
Winner of AdGully DIGIXX Award 2023, Category: PR/ORM
Winner of ET BrandEquity Brand Bharat Award North 2022, Category: BFSI
Winner of Campaign India PR Awards 2022, Category: Brand Development (Service)
Mint-TechCircle Business Transformation Awards 2021, Category: Social Impact (Good Business)
IDC India Industry Innovation Awards (IDCIIA) 2021, Category: BFSI (Innovation in Operations)
InkSpell Media Drivers of Digital Awards 2021, Category: Best Social Impact Startup
InkSpell Media Drivers of Digital Awards 2021, Category: Best Financial Startup
SKOCH AWARD 2023 – Innovation in Home Loan
BASIC Home Loan Team Members
BASIC Home Loan – Key Tools and Software
Some of the tools that BASIC Home Loan uses are:
AWS
ZOHO
BASIC Home Loan – Competitors
BASIC Home Loan competitors include:
Andro Meda
My Money Mantra
BASIC Home Loan – Future Plans
Their future plans for the next 1-2 years include significant expansion and diversification efforts aimed at enhancing their offerings and reaching a broader audience. Here are some key initiatives they are focusing on:
City Expansion: They plan to scale their operations from the current 30 cities to 100 cities within the next 1-2 years. This expansion will allow it to reach more customers and provide its services to a wider geographical area.
Home Setup Services: In addition to its core home loan services, they are diversifying into complementary offerings such as furniture, modular solutions, décor, and interior services. By offering these services, they aim to enhance the overall home-buying experience for their customers and provide them with end-to-end solutions for setting up their homes.
Lending Arm Establishment: They are in the process of establishing a lending arm to complement their existing services. This will involve introducing innovative products tailored to underserved segments of the market and leveraging technology to streamline the lending process and make credit more accessible to a wider range of customers.
Digitization of Credit: As part of their efforts to modernize and innovate, they are working towards digitizing the credit process. This includes leveraging technology such as AI and machine learning to assess creditworthiness, streamline application processes, and offer personalized loan solutions to their customers.
Overall, its goal is to continue growing and evolving as a company, expanding its reach, diversifying their offerings, and leveraging technology to better serve their customers and meet their evolving needs in the home finance and lending space.
BASIC Home Loan is a fintech startup founded in 2020, aiming to digitize and automate the home loan origination, documentation, and disbursement process in India.
Who are the founders of BASIC Home Loan?
BASIC Home Loan was founded by Atul Monga and Kalyan Josyula.
Who are the competitors of BASIC Home Loan?
Some of the competitors of BASIC Home Loan include Andro Meda and My Money Mantra.
What is BASIC Home Loan’s revenue model?
BASIC Home Loan operates on a commission-based revenue model, earning commissions from partner banks and financial institutions for each loan disbursed through their platform.
The HR tech sector has experienced incredible expansion and innovation in recent years, completely changing how businesses handle their workforces. Technology has advanced, especially in fields like cloud computing and artificial intelligence. As a result, HR tech solutions have grown more complex and provide a wide range of tools for streamlining and optimizing different HR procedures.
From hiring and onboarding to performance management and offboarding, these solutions cover every stage of the employee lifecycle. HR tech platforms give businesses useful insights into labor trends through the use of data analytics and machine learning algorithms. This helps businesses make strategic initiatives and decisions.
ZingHR is a prominent participant in this ever-changing HR industry, specializing in artificial intelligence-powered cloud-based HR solutions. ZingHR’s creative strategy, which includes voice help enabled by Google Assistant, is an example of the industry’s dedication to using state-of-the-art technology to improve productivity and efficiency in the contemporary workplace.
ZingHR continues to be at the forefront of digital revolution in HR procedures, enabling companies to manage their workforces strategically and stimulate long-term growth.
So this article will give you all the information about ZingHR founders, funding, growth, competitors, and more.
ZingHR is an HR startup that focus on empowering the workforce to strategically expand businesses. ZingHR establishes a digital workforce that is well connected and well informed. It consists of a Hire-to-Retire plan that eases the employee user experience. ZingHR has also added voice assistance powered by google assistant, which only increases the ease of user experience.
It is an active software solution that works continuously the organization’s HR operations. It’s multilingual software that provides support in 21 languages. ZingHR specializes in the recruitment process. It has robotic interviews that work in real-time. It even has a machine learning system that increases hiring by 92%.
ZingHR – Industry
According to a report by Fortune Business Insights titled “Human Resource Technology Market Forecast, 2023-2029,” the global Human Resource Technology market was valued at USD 22.90 billion in 2021. According to the report, the market is expected to develop significantly and reach USD 39.90 billion by 2029, with a strong compound annual growth rate of 7.5% throughout the forecast period.
This thorough analysis demonstrates how the demand for effective labor management and digital transformation projects has led to a global increase in the adoption of HR technology solutions across a range of industries. The research highlights the market’s potential for growth and innovation and stresses how technology will play a significant role in transforming human resource management in the future.
ZingHR – Founders and Team
ZingHR was founded in 2000 by Prasad Rajappan (Co-Founder and Managing director), Ravi Bajaj, and Venkat Balan.
Prasad Rajappan
Prasad Rajappan (Co-Founder and Managing Director) of ZingHR
Prasad Rajappan is the Co-Founder and Managing Director of ZingHR. He has a bachelor’s degree from KES College of Engineering and done MBA from Narsee Monjee Institute of Management Studies. Before founding ZingHR, he worked in Reliance Industries Limited as GM and in SAP projects, and before that, he worked in EY and Mahindra and Mahindra.
Ravi Bajaj
Ravi Bajaj is the Co-Founder of ZingHR. He has a bachelor’s from the University of Mumbai. Before founding ZingHR, he worked at Cnergyis Infotech India Pvt. Ltd. as Director of Information Technology, and before that, he worked at Enron Oil and Gas India Limited, Crest Computer Education, and BITS Computers.
Venkat Balan
Venkat Balan is the Co-Founder of ZingHR. He earned his bachelor’s from Shivaji University and his MBA from NMIMS, Mumbai. Before joining ZingHR, he worked at Cnergyis Infotech India Pvt. Ltd. as a director, and before that, he worked for many companies like Quinnox Consultancy Services Ltd., Patni Computer Systems Ltd., Birla Management Corporation, vCustomer, and Godrej GE Appliances Ltd.
ZingHR – Startup Story
Prasad Rajappan, who started an HR consulting organization, Cnergyis, in 2006 in Mumbai, thought of launching a cloud platform with the idea of covering the entire spectrum from hire-to-retire, but he did not want to address it from an HR automation perspective.
Therefore, ZingHR was born in 2014 as a cloud-based Human Capital Management (HCM) solution covering the entire spectrum from hire-to-retire to an end-to-end HCM solution with a focus on small and medium enterprises.
Additional to that, ZingHR wanted to give customers the simplicity of social media on an HCM automation app, thus allowing them to do HR management right from their mobile.
The legal name of ZingHR is “Cnergyis Infotech India Pvt. Ltd.“
ZingHR – Mission
ZingHR mission is “to enhance your company and empower your employees through improved HR practices and resources.“
ZingHR – Offerings
ZingHR is a smart Human Capital Management platform that empowers businesses with Enterprise Cloud Application Solutions for Human Capital Management. ZingHR adopts an employee-eccentric, mobile-first approach covering the entire spectrum from ‘Hire-to-Retire Processes’. With the cloud application solutions, it aims to help increase in margins, impact business outcomes, and increase people engagement.
ZingHR delivers Talent Management, Learning Management, Time & Attendance, Payroll, Talent Acquisition, Travel & Expense Management, Life cycle, Off-boarding with a layer of cutting-edge technologies, including analytics, Artificial Intelligence, Machine Learning, Voice Bots, Face Recognition.
ZingHR’s cloud-based and SaaS modeled product provides real-time transactions, reduces administrative effort, and increases data quality. It provides a clean and uncluttered user interface for its users. It also provides easy integration with existing systems and faster deployments, supported by the best-in-class security platforms and a multi-tenant architecture.
ZingHR plans
ZingHR – Business Model
ZingHR uses a subscription-based business model, with several subscription plan tiers catered to the requirements and sizes of enterprises. The platform offers cloud-based HR management solutions that address employee engagement, talent acquisition, workforce management, and other areas. The scalable business model of ZingHR serves companies of all sizes, from startups to major multinational corporations.
Its core proposition is centered around providing all-inclusive HR solutions via an intuitive cloud-based platform. Furthermore, ZingHR provides scalable and affordable HR solutions with its cloud-based pay-per-use Software-as-a-Service (SaaS) model, which enables businesses to access particular features or services whenever needed and only pay for what they use.
ZingHR – Revenue Model
ZingHR makes revenue via its pay-per-use Software-as-a-Service (SaaS) model, which is cloud-based and gives businesses the option to pay only for the HR management features or services they really use. This source of income supports the platform’s subscription-based business model, which requires employers to pay a certain amount to access ZingHR’s whole array of HR management products.
ZingHR’s pay-per-use software as a service (SaaS) model offers extra revenue prospects for the company based on the utilization of specific features or services by its clients. This model caters to organizations who are looking for more flexible and cost-effective choices for managing their human capital.
ZingHR – Funding and Investors
ZingHR has raised $13 million to date from four rounds of funding.
Here are the funding details:
Date
Funding Round
Amount
Investors
Jan 17, 2022
Venture Round
$10 million
Tata Capital
Jun 11, 2018
Venture Round
–
–
Jun 30, 2017
Venture Round
–
Zeta
Jan 22, 2014
Venture Round
–
–
ZingHR – Growth
ZingHR: growth highlights are:
It has 1100+ worldwide customers as of March 2024
It has 2 million+ active customers as of March 2024
The company has 30+ HCM Modules as of March 2024
It has 26+ global languages as of March 2024
Financials
ZingHR Financials
ZingHR Financials
FY22
FY23
Operating Revenue
Rs 55.77 crore
Rs 84.48 crore
Total Expenses
Rs 66.05 crore
Rs 106.69 crore
Profit/Loss
Loss of Rs 11 crore
Loss of Rs 20.56 crore
EBITDA
ZingHR Financials
FY22
FY23
EBITDA Margin
-17%
-23%
Expense/Rs of Op Revenue
Rs 1.18
Rs 1.26
ROCE
-17%
-54%
ZingHR – Recognitions
ZingHR: recognitions are:
It won the CIO Choice 2017 Award in HR and Global Payroll Services for the SME category
ZingHR won the ISV Partner of the Year award at the Microsoft Summit 2016
It is also recognized by the Gartner in top 10 HCM Suites
ZingHR – Competitors
ZingHR competitors are:
Darwinbox
greytHR
sumHR
tomHRM
ZingHR – Future Plans
ZingHR, a ground-breaking domestic company that specializes in automating HR procedures across numerous industry verticals, disclosed big ambitions for growth in a big announcement made in May 2023. Strategically focusing on international markets, ZingHR announced that it plans to expand into important areas of the current fiscal year, such as the UK, Europe, Japan, and a few African nations.
In order to support these expansion initiatives, the company plans to hire twice as many people—from the present base of 625 employees to an astounding 1,200. ZingHR’s strategic growth plan demonstrates the company’s dedication to expanding its operations globally and securing its leadership position in the HR technology industry.
ZingHR, an Indian technology company, develops a cloud-based workforce management platform that uses artificial intelligence to facilitate or automate human resources tasks throughout the employee cycle, including recruiting, training, and performance evaluation.
Who is the founder of ZingHr?
The founder of ZingHR is Prasad Rajappan, Ravi Bajaj and Venkat Balan.
Nadeesh Kareemdathil
