Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations.
An online e-commerce marketplace is a sort of e-commerce website where different external parties supply products or services. The most common sort of omnichannel e-commerce is online, which may help optimize the manufacturing process.
In online markets, consumer purchases are handled by the marketplace operator and then supplied and executed by partnering shops or wholesalers in the online marketplace. These websites let customers register and sell anything from a single item to a large number of goods for a “post-selling” charge. Because marketplaces consolidate items from a variety of vendors, the availability and selection are frequently greater than in vendor-specific online retail storefronts.
Quikr is an example of an online marketplace. Pranay Chulet and Jiby Thomas launched it in 2008 as a commercial advertising firm based in Bangalore, India. Quikr includes listings for household products, jobs, mobile phones, real estate, automobiles, and educational services in over 1000 Indian cities. Quikr is a free advertising and online marketplace in India that allows individuals to sell, buy, rent, and find anything and everything across the country.
Quikr is a free classified ad company and online marketplace in India that allows users to sell, buy, rent, and find anything. People in the community can use their website to find a flat, sell their old music systems, automobiles, mobiles, laptops, or furniture, get an audience for a local event, advertise their small business, find a tuition class, join a salsa class, get a break as a model or actor, buy anything they want or have to offer, and make new friends while doing so.
The company’s goal is to keep incorporating turn-taking and noteworthy features into your Quikr experience, whether it’s QuikrNXT, which allows you to buy and sell without jeopardizing your privacy, or the missed call service, which allows Quikr to reach out to people who aren’t currently online but will be.
Quikr – Industry
In the year 2021, India’s internet penetration rate will surpass 830 million, accounting for more than 40% of the total population. Despite having the world’s second-largest customer base, behind only China, e-commerce penetration is low in comparison to markets such as the United States and France, but it is growing, with around 6 million new participants each month. The general perception in the sector is that growth is nearing an important milestone.
After a rough year due to the pandemic’s breakout, Indian industries have seen a v-shaped comeback in 2021. As a result, the Indian advertising sector saw a comeback in ad spending, resulting in a market value of INR 70,715 crore, up 18.6% from 2020. According to the latest study, the industry is predicted to reach INR 93,119 crore by the end of 2023, rising at a rate of 14.75 percent. Furthermore, the digital advertising sector grew by 35.3 percent from INR 15,782 crore in 2020 to INR 21,353 crore in 2021, owing to the faster corporate and consumer transition to digital.
Quikr was founded by Pranay Chulet and Jiby Thomas in 2008.
Pranay Chulet
Pranay Chulet – Founder of Quikr
Since January 2008, Pranay Chulet has served as the founder and CEO of Quikr. Pranay was born and raised in India but relocated to New York after finishing his studies to work for Mitchell Madison Group, a strategy consulting business that advised clients in the media and banking industries. Pranay founded a company two years after arriving in the US, which he eventually merged with Walker Digital. Pranay received a Gold Medal from IIM Calcutta in 1996 during his post-graduation, and he did a BTech from IIT Delhi before that.
Jiby Thomas
He is a skilled expert with more than two decades of experience in marketing communications and online marketing. Jiby was a member of the founding teams of Baazee and Baazee Motors, as well as Kijiji India and Quikr. He is assisting in the development, expansion, and scaling of these firms. He enjoys advising motivated and skilled entrepreneurs on topics such as team building, processes, products, and strategy. He also went to IIM Calcutta for his postgraduate studies.
Quikr – Startup Story
Pranay’s most notable achievement in the world of digital media was the creation of Craigslist Media Company in California, which quickly became a huge success in the U.S. That’s when the concept of Quikr struck his mind. But Pranay did not wake up one day and decide to develop India’s leading classified site, “Craigslist.”
People in India want to experience goods and examine them before buying them, and he envisioned a platform that would connect buyers and sellers and allow them to complete their deals offline. This physical component distinguishes his proposal from e-commerce sites like Amazon or Flipkart, but it also puts it in the classifieds category. As a result, in July 2008, Pranay established Quikr.com as Kijiji.in.
Quikr – Name, Logo, and Tagline
Quikr Logo
Quikr was formerly a division of eBay. Kijiji, their brand name, is a “Swahili” term that means “community. They discovered that the trademark was hard to pronounce after it had been launched. As a result, Pranay Chulet and the other co-founder, Jiby Thomas, decided to form a new subsidiary and call it Quikr.
Similarly to his brand name, he provided a “quicker” manner for consumers to deal with than other market platforms.
Quikr’s tag line, “Aasan hai badalna,” matches today’s modern Indian spirit and quickly connects with young, aspirational Indians looking to improve their lives.
The mission statement of Quikr says, “Quikr aims to empower every person in the country to independently connect with buyers and sellers online.”
Quikr’s basic values are as follows:
Flexibility
Speed
Innovation
Transparency
Frugality
Quikr – Business Model, and Revenue Model
Quikr’s high point was that company has a clear revenue model in order. Advertising, premium listings, and lead generation would be the three revenue streams for the organization.
Apart from many other things, one of the unusual techniques was that each city had its own Quikr. Punjab, for example, may have ploughs mounted to Royal Enfield motorcycles. Jeeps were quite popular in Udaipur; thus, they had open jeeps for sale, while Kolkata may have women entrepreneurs selling homemade panipuri, among other things.
Essentially, the target demographic was properly segmented through the site, and Pranay, as a marketing professional, was well aware that brand promotion is the most important aspect of advertising. He spent the majority of their money on advertising. As a result, he developed a really creative approach to P2P (person to person) sales.
Quikr – Funding, and Investors
Quikr has so far secured money in several stages. Trifecta Capital Advisors provided the most recent capital on April 19, 2019, in the amount of INR 200 million from a debt financing round. Prior to that, InnoVen Capital provided finance on December 7, 2018.
Date
Round
Amount
Lead Investors
Apr 19, 2019
Debt Financing
$2.4 million
Trifecta Capital Advisors
Dec 7, 2018
Debt Financing
$7.65 million
InnoVen Capital
Aug 18, 2016
Debt Financing
$20 million
Brand Capital
Jul 23, 2015
Secondary Market
$60 million
Kinnevik AB
Apr 7, 2015
Series H
$150 million
Kinnevik AB, Tiger Global Management
Sep 17, 2014
Series G
$60 million
Tiger Global Management
Mar 11, 2014
Series F
$90 million
Kinnevik AB
May 22, 2012
Series E
$32 million
Warburg Pincus
May 9, 2011
Series D
$8 million
NGP Capital
Mar 31, 2010
Series C
$6 million
Norwest Venture Partners
Quikr – Acquisitions
Acquiree Name
About Acquiree
Date
Amount
GoZefo
Startup working on a white space in the eCommerce industry.
Mar 11, 2019
$28.5M
India Property Online
IndiaProperty.com provides in-depth information on buying, selling and renting out properties in India.
Dec 17, 2018
–
HDFC Developers
HDFC Developers owns the HDFC RED platform for online real estate classifieds.
Dec 22, 2017
–
HDFC Realty
HDFC Realty is an end-to-end real estate advisory company.
Dec 22, 2017
–
Babajob
Babajob.com is job website and mobile portal dedicated to connecting informal sector workers.
May 26, 2017
–
Zimmber
Zimmber -Trusted Home Service Provider.
May 5, 2017
$10M
Grabhouse
A listing and transactional website for finding rental accommodations.
Nov 21, 2016
–
Stayglad
Access Beauty Services Anywhere Anytime
Sep 13, 2016
–
Stepni.com
A platform that facilitates vehicle owners to get serviced by garages, mechanics & service providers around them
Sep 7, 2016
–
ZapLuk
Beauty. Wellness.Fitness. On-Demand
Aug 24, 2016
–
Quikr – Brand Ambassadors
Ranveer Singh and Suriya had been appointed as brand ambassadors for this online cross-category classifieds website. This strategy was in keeping with Quikr’s then new “Aasaan hai badalna” marketing viewpoint. Singh was featured in Quikr’s then-forthcoming commercial campaign. Suriya was shown in advertisements for the country’s southern market.
Quikr – Financials
Quikr Financials
FY24
FY23
Operating Revenue
INR 45 crore
INR 51 crore
Total Expenses
INR 54 crore
INR 61 crore
Profit/Loss
INR +2 crore
INR -8 crore
Quikr Financials
EBITDA
Quikr Financials
FY24
FY23
EBITDA Margin
5.36%
-3.77%
Expense/INR of ops revenue
INR 1.20
INR 1.20
ROCE
-3.91%
-3.91%
Quikr – Competitors
Snapdeal, Glassdoor, Circa, Flipkart, LinkedIn Job Search, ZipRecruiter, Indeed Hiring Platform, Hired, NoBroker, and Maihaoche are among Quikr’s main rivals.
Quikr – Challenges Faced
Fierce Competition
Quikr began as a basic and original concept. A location where people may trade stuff with one another, but as you can see, the notion of categorizing also crossed paths with a lot of players, coming from different directions. As a result, it was in direct or indirect competition with a number of enterprises, but Pranay was unconcerned about this.
He understands that a market with a lot of competitors is not the same as a market with a lot of noise. Anyone may create a website, but not everybody can start a classified advertising firm. Quikr, he claimed, was simple and clean, and it was more powerful than the others since it showed more listings and raw experiences to its customers. Similarly to his brand name, he provided a faster or “quicker” approach for consumers to deal with than other marketplaces.
Mounting Losses
Quikr’s losses decreased by 90% to INR 55.48 crore in FY21 from INR 563.2 crore in FY20 due to cost management. Controlling losses also had an impact on the company’s financial outflows, which fell to INR 80 crore in FY21 from INR 142.2 crore in FY20. Quikr has invested INR 2.04 per unit to generate a rupee in operational revenue.
FAQs
What does Quikr do?
Quikr is a free classified ad company and online marketplace in India that allows users to sell, buy, rent, and find anything.
Who founded Quikr?
Quikr was founded by Pranay Chulet and Jiby Thomas in 2008.
How does Quikr make money?
Advertising, premium listings, and lead generation are the three revenue streams for the organization.
Which companies do Quikr compete with?
Snapdeal, Glassdoor, Circa, Flipkart, LinkedIn Job Search, ZipRecruiter, Indeed Hiring Platform, Hired, NoBroker, and Maihaoche are among Quikr’s main rivals.
The payment gateway allows the merchants to process credit, debit, and other alternative online payments. Using a payment gateway can help to lessen the frequency and severity of credit card fraud within e-commerce or any other kind of business. This gateway for payments acts as the go-between to make sure that customer data is encrypted and secure.
BillDesk is an Indian online payment gateway company based in Mumbai, Maharashtra, India. The company provides payment solutions for customers in e-commerce, financial services, retail, and other sectors. BillDesk is one of the oldest payment gateways in India and is responsible for powering 50%â60% of the online bill payments in the country as of August 2021.
Know the BillDesk Success Story, Founders, Business Model, Funding, Revenue, and more here with StartupTalky.
BillDesk – Company Highlights
STARTUP NAME
BILLDESK
Headquarters
Mumbai, Maharashtra, India
Sector
Finance
Founders
M.N. Srinivasu, Ajay Kaushal and Karthik Ganapathy
Founded in 2000 by a team of ex-Arthur Andersen professionals, BillDesk, an Indian online payment gateway company, continues to be at the forefront of digital payments’ evolution in India, creating Internet-based payment products that enable consumers to make payments online in a frictionless manner.
BillDesk, a product and service with about 20 years of market leadership, provides a reliable payment platform for enterprise-wide electronic payments and collections, related reconciliation and settlement operations, across multiple delivery channels, and using a wide range of payment methods.
BillDesk – Industry
The India Payment Gateway Market is anticipated to expand at a compound annual growth rate (CAGR) of 17.16% from USD 1.21 billion in 2024 to USD 2.66 billion by 2029, according to Mordor Intelligence. Factors like rising internet penetration and growing e-commerce in India are driving this growth.
BillDesk – Founders and Team
BillDesk was founded in 2000 by M.N. Srinivasu (Co-Founder and Director), Ajay Kaushal (Co-Founder and Director), and Karthik Ganapathy (C0-Founder).
M.N. Srinivasu (Co-Founder and Director), Ajay Kaushal (Co-Founder and Director), and Karthik Ganapathy (Left to Right) are the Co-Founders of BillDesk
M.N. Srinivasu
Srinivasu, the Co-Founder and Director of BillDesk, is a BCom Economics graduate who later completed a PGDM from IIM Ahmedabad. MN Srinivasu first started his professional career as the Manager of the Agri Business Group of ITC Limited. He then switched to ITC Zeneca Limited, where he served the role of Financial Controller, but it continued only for a year, after which he again switched to the Treasury (Financial Services) of ITC Limited, where he worked for a span of 4 years.
He then went on to manage Business Consulting at Andersen. This continued for another year, after which he co-founded BillDesk.
Ajay Kaushal
Ajay Kaushal is a Co-Founder and Director of BillDesk. who started as the Head of Securities Research at SBI Capital Markets Limited. He then became the Manager at Arthur Andersen, after which Kaushal served as the Trustee at CAF India. He managed this job role for around 6 years before he decided to co-found BillDesk. Ajay Kaushal has a BTech in Electrical and Electronic Engineering, and he topped it off with a PGDBM, MBA from IIM Lucknow.
Karthik Ganapathy
Karthik Ganapathy is the Co-Founder and VP of BillDesk. He is an IIT Bombay and IIM Bangalore alumnus who is regarded as the Chief Architect of the technology and operations that currently power BillDesk. Before founding BillDesk, Ganapathy worked with Arthur Andersen.
The BillDesk team operates with an employee strength of somewhere between 501 and 1000 employees.
BillDesk – Startup Story
The story of BillDesk’s founding is a classic example of creative problem-solving and entrepreneurial vision. The trip began when three people who had previously worked for the prestigious American accounting firm Arthur Andersen decided to leave their secure positions in order to follow their entrepreneurial dreams.
The daily inconvenience of consumers having to wait in line to pay for different billsâsuch as those for energy or phone servicesâwas the source of their inspiration. The creators recognized a chance to completely change the payment environment by offering a more straightforward and simplified solution after realizing how painful this problem was.
BillDesk – Mission and Vision
The company’s mission on its websites states, “To make payments accessible and easy for all through market-leading solutions.”
BillDesk’s vision is to create a one-stop destination to make all payments.
“At BillDesk we are committed to this vision of implementing innovative solutions for simplifying payments and collections and translating the opportunities offered by the Internet into actual customer delight through efficient payment and collection services.”
BillDesk is a business-to-business (B2B) model that links banks with utilities and retailers to process payments without having to buy end users outright. Prepaid account sales (PINS and eTop up subscriptions) and transaction processing fees from electronic transactions on its network are the main sources of income.
The business also receives payment for additional supplementary and consultancy services as well as loyalty reward point management. BillDesk provides a platform for online and mobile payments through aggregator platforms in India, catering to telecom, insurance, e-commerce, financial services, charitable organizations, and entertainment providers, among other industries.
BillDesk – Revenue Model
The revenue model of BillDesk includes the following sources:
Fees for processing electronic transactions: BillDesk collects money by charging for the processing of electronic transactions conducted on its platform.
Sales of PINS (Personal Identification Numbers): PINS are used for a variety of digital transactions, including online bill payment, prepaid cellphone recharge, and other services. BillDesk makes money from the selling of PINS.
E-top subscriptions: In order to create recurring income, BillDesk provides consumers with access to premium features or expanded capability for electronic transactions through subscription-based services like e-top subscriptions.
BillDesk – Challenges Faced
BillDesk faced challenges in selling its business amid intense competition in the digital payments segment, where well-marketed startups like PayUmoney, Paytm, Citrus, and CC Avenue emerged. Utilizing its two-decade industry experience and devoted clients, BillDesk maintained its momentum and profitability despite challenges like the Reserve Bank of India’s reduction of commission rates.
In the face of tighter laws and rising demand, the company realized it needed a fully integrated payment system. It adjusted to developments in the market while putting the needs of its customers first. In the future, BillDesk hopes to use its momentum and stability to overcome obstacles and spur further expansion.
BillDesk – Funding and Investors
BillDesk has raised a total of $241.4 million in funding over 4 rounds.
Here are the funding details:
Date
Round
Money
Lead Investor
Nov 16, 2018
Corporate Round
$82.27 million
Visa
Mar 15, 2016
Secondary Market
$150 million
General Atlantic
Apr 4, 2012
Private Equity Round
–
TA Associates
Jun 22, 2006
Venture Round
$7.5 million
Clearstone Venture Partners, State Bank of India
BillDesk – Shareholding
BillDesk’s shareholding pattern as of March 2023, sourced from Tracxn:
BillDesk Shareholders
Percentage
M N Srinivasu
10.9%
Ajay Kaushal
10.2%
Karthik Ganapathy
8.5%
General Atlantic
14.2%
Temasek
8.5%
Clearstone Venture Partners
6.4%
March Capital
5.4%
Irani Children’s Trust of 2006
0.3%
Upton Investment
0.1%
LionRock Capital
< 0.1%
SAF Capital
< 0.1%
ZAD Investment Company
< 0.1%
Elpis Investments
< 0.1%
FDI
13.1%
Visa
12.6%
Maverick Enterprises
1.7%
Tsjpm
0.6%
VT Partner LLC
0.3%
Trojaninvestmentllc
0.2%
Haqan
< 0.1%
Novel
< 0.1%
Angel
0.8%
Other People
1.9%
ESOP Pool
3.9%
Total
100.0%
BillDesk Shareholding
BillDesk – Growth
BillDesk’s growth highlights are:
It does 4 billion+ transactions per year as of March FY24
It has 150 million+ API calls per day as of March 2024
It is available in 20+ categories as of March 2024
The company has 70+ agents as of March 2024
It has 20,000+ billers as of March 2024
BillDesk has done Rs 10 trillion+ in payment volume in FY23
BillDesk – Financials
BillDesk has shown steady revenue growth over the years, with expenses also rising in parallel. While profitability has fluctuated, the company remains in a strong financial position.
Reiterating its position as a leader in the digital payment sector, BillDesk was recognized in 2023 with the esteemed Pay Excellence Champions Awards for its exceptional performance as the Best Online Payment Platform. This honor highlights BillDesk’s dedication to innovation and quality in offering its customers easy-to-use online payment alternatives.
BillDesk’s future plans include focusing on expanding their product and service offerings, adhering to high security standards, and potentially incorporating blockchain technologies to enhance transaction security. They aim to maintain their leadership position in the online payments space and continue to simplify payments for users. They are exploring the use of blockchain technologies to further enhance the security and transparency of transactions.
FAQs
What is BillDesk payment, what does BillDesk mean?
BillDesk, founded in 2000 is an Indian online payment gateway company based in Mumbai, Maharashtra, India.
Is BillDesk an Indian company?
Yes, BillDesk is an Indian online payment gateway company.
How does BillDesk make money?
Processing electronic transactions, such as charging fees to process payments online, brings in money for BillDesk. Its revenue sources are further enhanced by the sales of PINS (Personal Identification Numbers) and E-top subscriptions.
How does BillDesk payment gateway work?
BillDesk is a one-stop online payment provider that helps customers organize, pay and manage their regular and ongoing bills. Customers can receive, review and pay all the bills they receive from different providers in one place with BillDesk.
Who is BillDesk CEO?
BillDesk doesn’t have a CEO; now it has three Co-Founders.
Who are BillDesk founders?
M.N. Srinivasu, Ajay Kaushal, and Karthik Ganapathy are the founders or owners of BillDesk.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations.
Porter began with a simple idea: to tackle the challenges in last-mile logistics and make city-wide goods transportation smoother for businesses. They set out to offer an on-demand solution that helps thousands of businesses move anything they need, right when they need it. Since then, Porter has expanded significantly, boosting the efficiency of companies, creating opportunities for their partner drivers, and spreading joy across 19 cities.
And this is just the start. Their vision is to build the worldâs top end-to-end logistics platform and completely reshape the future of transportation logistics. The company achieved unicorn status on May 8th, 2025, with its latest funding round valuing it between $1.1 billion and $1.2 billion.
Learn more about Porter, its startup story, founder, tagline, logo, business model, revenue model, funding, competitors, and more.
Porter has quickly earned a reputation as a reliable logistics partner for businesses large and smallâserving everyone from eCommerce merchants and restaurants to supermarkets and Kirana shops. Whether itâs bulk shipments, business couriers, cargo transport, or last-mile delivery, theyâve got it covered. Their growing presence across more than 20 cities is a testament to the trust and confidence their customers have in their services.
As their operations continue to expand, Porter now operates in 20+ cities, supported by an impressive network of over 7.5 lakh driver partners.
Porter – Industry
Need to move something? Porter has you covered with on-demand access to 2-wheelers, tempos, trucks, and parcel couriers across 19 cities in India. Whether itâs a small package or bulk goods, they can deliver it anywhere, anytime.
A vehicle for every delivery
From Tata Ace to 8FT Pickups and 14FT Cantersâwhatever you need to transport, theyâve got the right vehicle for you.
Hassle-free online booking
Just open the Porter app and book a truck whenever you need it, all from the comfort of your phone.
Easy-to-use transportation app
Porterâs streamlined interface makes it simple to choose your vehicle, place an order, and even get a quick price estimate within seconds!
Porter – Founders and Team
Porter, an on-demand logistics start-up, has announced a reshuffle in its leadership team. Co-founder Uttam Digga has stepped into the role of Chief Executive Officer, while Pranav Goel has transitioned to Executive Vice Chairman.
Additionally, Shruti Ranjan Satpathy has taken on the position of Chief Product and Technology Officer.
Uttam Digga
Uttam Digga – Co-founder and CEO, Porter
Uttam Digga, the Co-Founder and CEO of Porter, brings a wealth of experience from his previous role as an Analyst at J.P. Morgan. He is an alumnus of the Indian Institute of Technology (IIT), Kharagpur.
Pranav Goel
Pranav Goel – Porter Founder
Pranav Goel is instrumental in managing investor relations, administration, business development, and defining Porterâs strategic vision. His path is marked by significant academic and career achievements, highlighted by an integrated masterâs degree from the renowned Indian Institute of Technology (IIT), Kharagpur.
For his outstanding contributions, Pranav was honored with the Young Alumni Achiever Award from IIT Kharagpur, a prestigious accolade that he shares with fellow co-founder Uttam Digga.
Vikas Choudhary
Vikas Choudhary – Porter Founder
Vikas Choudhary completed his degree in Electrical Engineering at the Indian Institute of Technology, Kanpur, where he developed a keen interest in Communication Theory. He was also captivated by the field of finance during his studies. Later, he pursued further education at the Stanford Graduate School of Business.
Porter – Startup Story
Seven years ago, the founders of Porter caught the entrepreneurial spirit, inspired by the idea of âUber for X.â They set out to revolutionize on-demand services for consumers. By studying the successful business models of companies like Uber, which efficiently matched supply and demand through technology, they realized there was a significant opportunity in the logistics sector. A deep dive into the logistics landscape in Mumbai revealed a major gap in last-mile delivery services that needed addressing.
Bringing their IIT backgrounds into play, co-founders Pranav Goel, Uttam Digga, and Vikas Choudhary leveraged their extensive logistics experience to carve out a niche for Porter in the market. With a combined expertise of over 20 years, they laid the foundation for what would soon become one of Indiaâs top truck-booking platforms.
What sets Porter apart? Well, it quickly gained recognition as a pioneer in the truck booking space! The founders identified a key opportunity to simplify and enhance the truck booking process in India, leading to the establishment of Gordian Technologies, based in Bengaluru. Their mission? To ensure that goods delivery is both secure and efficient.
The innovative solution they developed is a user-friendly app designed to make truck booking a breeze. Enter Porter! This platform quickly took off, becoming the go-to app for truck booking in India.
Why has Porter become so popular? Itâs all about simplicity and efficiency. With just a few clicks, users can effortlessly book trucks, setting a new benchmark for convenience in logistics. So, are you ready to experience the ease of booking with Porter?
Porter – Mission and Vision
This logistics company in India offers both intra-city and inter-city services, driven by the inspiring vision of “moving a billion dreams, one delivery at a time.” Their goals are ambitious yet focused:
Creating a World-Class Logistics Platform: They aim to set a new standard in logistics, ensuring efficiency and reliability in every delivery.
Enhancing Quality of Life for Partner Drivers: Recognizing the importance of their drivers, they strive to improve working conditions and provide better opportunities.
Revolutionizing the Transport Logistics Sector: Their mission is to transform the way logistics operates, making it more accessible and efficient.
Additionally, they are committed to building a dynamic and flexible warehousing and fulfillment network that can adapt to demand seamlessly. With their logistics services, businesses can not only meet but exceed customer expectations, driving rapid growth and success.
Porter – Name, Tagline and Logo
Porter – Name, Logo, Tagline
The company has introduced a fresh new logo that embodies its commitment to delivering logistics services for âAnything, Anytime, Anywhere.â To unveil this exciting change, they’ve also launched their inaugural brand film, titled âDelivery hai? Ho Jayega!â Designed by Moshimbo, the logo is part of Porterâs larger brand identity makeover, highlighting their promise to transport goods efficiently and seamlessly.
One striking element of the logo is the map pin, cleverly designed with superscript symbols that resemble longitude and latitude, reflecting Porterâs dedication to constant movement and reaching customers far and wide. This design not only conveys reliability but also aims to bring happiness to both customers and driver-partners.
The logo sports a sleek, modern look with a minimalist vibe, utilizing a bold blue and white color palette that represents trust, assurance, and limitless opportunities.
Porter – Business Model
Porter’s business model is all about connecting users with delivery partners seamlessly through a user-friendly mobile app. Whether you’re a business or an individual needing goods transported, Porter makes it easy to get things moving.
Bridging the Delivery Gap
Porter identified a significant gap between delivery vehicles and end customers, prompting them to leverage digital technology to bridge this divide. By implementing an AI-powered algorithm, they created an online platform that connects delivery drivers and customers in real-time, simplifying logistics.
Their order management system handles everything from order collection and vehicle allocation to fare bidding, all while GPS tracking keeps the supply chain moving smoothly. This smart algorithm takes into account factors like customer location, request timing, and the type of vehicle needed, ensuring users get the best possible options for their shipments.
A Tech-Driven Experience
Porter’s driver-side interface is straightforward, ensuring that all registered drivers are tech-savvy and well-trained. This helps eliminate hassles and delays, resulting in a fully automated tech stack that streamlines the entire process. Users simply log in, find a truck, book it, and voilĂ âyour delivery is on its way!
Serving a Diverse Market
Porter’s digital logistics system caters to both B2B and B2C segments, making it suitable for everything from small deliveries to larger shipments. The company plays a crucial role in India’s logistics landscape, which relies heavily on road transport and truck-based freight. With government initiatives like the Logistics Efficiency Enhancement Program (LEEP), Porter is positioned to improve the overall efficiency of the trucking ecosystem.
Comprehensive Logistics Solutions
Porter’s services include:
Last-mile, middle-mile, and first-mile deliveries
On-demand logistics through easy bookings
Supply chain management supported by CRM, order management, and GPS tracking
Real-time visibility and updates
Efficient packing and moving services
Enterprise logistics on a variable engagement basis
By harnessing the power of Big Data and analytics, Porter continuously improves its operations. They use insights gathered from their fleet’s performance to optimize resource deployment, match vehicle loads, and enhance turnaround times, ensuring they meet market demand efficiently.
Porter operates on a commission-based revenue model, charging up to 30% of the driver partner’s earnings after a successful delivery. This structure not only incentivizes driver partners to complete more deliveries but also aligns the companyâs success with that of its partners.
With a presence in over 18 major cities across India, Porter has established itself as a leading on-demand delivery marketplace, effectively connecting users in need of delivery services with driver partners ready to transport goods.
When it comes to pricing, the fare is calculated based on the total distance traveled between the pickup and drop-off locations. This straightforward approach ensures transparency for users, allowing them to know exactly what theyâre paying for each delivery.
By combining a fair commission structure with an efficient pricing model, Porter is able to create a sustainable ecosystem that benefits both customers and delivery partners.
Porter – Employees
Porter is dedicated to fostering an employee-centric culture, believing that a positive work environment is essential for nurturing talent and innovation. They strive to create a workplace that encourages intellectual engagement and high-quality performance.
To share insights and experiences from within the company, Porter runs a blog titled Of the People, by the People, for the People. This platform highlights employee stories, engagement strategies, and best practices, reinforcing the companyâs commitment to its workforce.
In line with their vision of âmoving a billion dreams, one delivery at a time,â Porter has successfully served over 10 million customers across more than 19 cities in India. With a dedicated team of 2,600 employees, they continue to drive forward, emphasizing the importance of their people in achieving their ambitious goals.
Porter – Challenges Faced
Logistical Challenges
In 2022, Porter Enterprise stepped in to revolutionize Britomatics’ logistics operations. This partnership facilitated timely and efficient deliveries, effectively eliminating the risks of product loss and incorrect shipments. With access to on-demand vehicles of various sizes, Britomatics gained the flexibility needed to handle all types of orders. As a result, they saw a significant increase in order volume, allowing them to consistently meet customer demands and rebuild trust and loyalty among their clientele.
Before the partnership, Britomatics often delivered the wrong printing implements, hindering their customers’ ability to perform their jobs effectively. Additionally, they experienced a concerning product loss rate of 20%, with two out of every ten deliveries going awry. Limited vehicle availability compounded the issue, forcing them to turn away new orders and cancel existing ones, further diminishing revenue and eroding customer goodwill.
This transformation underscores how a strong logistics partner can not only resolve existing challenges but also propel a business toward greater success.
Streamlining Operations and Efficiency for Clients
Porter Enterprise transformed Suvastraâs logistics operations by providing a seamless pay-per-use pricing model that optimized fulfillment and ensured on-time deliveries. This collaboration allowed Suvastra to significantly reduce manhours and overall costs while minimizing the time spent coordinating with multiple vendors.
With easy on-demand fulfillment and a centralized dashboard, Suvastra gained high visibility into its logistics processes, making it easier to manage operations and respond swiftly to customer demands. This partnership not only improved efficiency but also empowered Suvastra to focus on its core business, driving growth and success.
Transportation Costs
At Porter, they recognize that rising fuel prices significantly impact transportation costs for their partners. To help mitigate these expenses, they advocate for strategies like consolidating shipments, reducing the frequency of shipments, and optimizing carrier usage. By implementing these measures, they empower their clients to streamline operations and enhance cost efficiency, ensuring they can maintain competitiveness in the market.
Driver Shortage
They understand that the logistics sector is currently facing a critical driver shortage, which poses challenges in meeting demand. With government regulations enforcing stricter hiring practices, they need to navigate this landscape effectively. At Porter, they are committed to providing support in recruiting and retaining qualified drivers, ensuring compliance with regulatory standards. By tackling this driver shortage head-on, they strive to maintain operational efficiency and uphold their promise to deliver exceptional service to their clients.
Porter – Funding & Investors
Porter has secured a total of $332.07 million over 8 funding rounds since its inception in 2014. The most recent round was completed on May 8, 2025. The $200 million funding round valued the startup between $1.1 billion and $1.2 billion, making it the second unicorn of 2025. Below are Porter’s funding details:
Porter’s shareholding pattern as of May 2025, sourced from Tracxn:
Name
Post-Round Holding
Pranav Goel
6.7%
Uttam Digga
6.2%
Vikas Choudhary
3.3%
Lightrock
14.0%
Sequoia Capital
13.6%
Tiger Global Management
8.7%
Kalysta Capital
4.2%
Kae Capital
1.6%
Claris Capital
0.2%
Sara Group
< 0.1%
Central Park Securities Holding
–
Lightstone Ventures
–
QED Innovation Labs
–
IndigoEdge
–
Mahindra
24.3%
Portobello Holdco Sarl
8.7%
Equentia Natural Resources
< 0.1%
Angel
0.1%
Other People
0.2%
ESOP Pool
8.0%
Other Investors
< 0.1%
Total
100.0%
Porter Shareholding
Porter – Mergers and Acquisitions
On February 23rd, 2018, SmartShift by Mahindra, a part of the USD 19 billion Mahindra Group, announced plans to merge with Porter, a leading tech-enabled logistics solutions provider in Indiaâs goods transportation sector. This merger is pending corporate and regulatory approvals. Once finalized, the new entity will operate under the name Mahindra SmartShift, allowing both the Porter and SmartShift brands to continue serving their existing customers and partner drivers. This strategic alliance aims to enhance operational efficiency and expand its presence across India in the shared mobility space, benefiting both companies and their stakeholders.
Logistics startup COGOS Technologies has successfully acquired the FMCG business segment of intra-city logistics firm Porter. This strategic acquisition is designed to ensure the continuity of Porterâs business vertical while aligning it with COGOS’ business model. Porter expressed that this move will also enhance their focus on core business solutions, strengthening their overall service offerings in the logistics sector.
Porter – Growth
In 2023, Porter made a strategic move by expanding into the packaging and movers vertical, catering to both business and individual customers. This new offering introduced courier services for shipping goods, including high-volume and bulky items, leveraging Porterâs extensive and dependable fleet.
By utilizing their existing resources, Porter quickly gained traction in the market with affordable and accessible packaging solutions, allowing them to capture additional market share and increase revenue. This expansion not only diversified their service offerings but also solidified Porterâs position as a comprehensive, tech-driven logistics provider in the B2C space. As urban demand for faster and more reliable deliveries surged, Porterâs asset-light, technology-first approach was perfectly aligned to meet this growing need.
Porter Financials FY24
Porter Financials
2023
2024
Operating Revenue
INR 1753.8 crore
INR 2733.8 crore
Total Expenses
INR 1964 crore
INR 2862 crore
Profit/Loss
Loss of INR 174.6 crore
Loss of INR 95.7 crore
Porter Financials FY24
In 2023, Porter’s operating revenue was INR 1,753.8 crore, which increased to INR 2,733.8 crore in 2024, marking a growth of about 56%. Their total expenses also rose from INR 1,964 crore in 2023 to INR 2,862 crore in 2024, an increase of around 46%. Despite these rising expenses, Porter’s loss reduced significantlyâfrom INR 174.6 crore in 2023 to INR 95.7 crore in 2024âresulting in a 45% improvement in losses.
While this diversification opened new opportunities, it also added layers of operational complexity. Nonetheless, the initiatives yielded impressive results, with revenue skyrocketing from INR 848 crore in FY22 to INR 1,754 crore in FY23. However, the rapid growth came with challenges, as losses increased by 43%, reaching INR 175 crore during the same period.
Despite these financial hurdles, Porter remained committed to its scale and customer satisfaction strategy. Driver-partners benefited significantly, enjoying a 30% boost in earnings compared to traditional models, while customers experienced up to a 20% reduction in logistics costs. This win-win scenario helped Porter maintain its growth trajectory.
By the end of 2023, Porter had expanded its footprint to 15 cities, boasting a user base of over five million customers and a fleet exceeding 200,000 drivers. Looking ahead, Porter is well-positioned to continue refining its logistics solutions as it strives for profitability and sustainable long-term growth.
Porter – Advertisements and Social Media Campaigns
Porter has unveiled its inaugural brand campaign, “Delivery Hai? Ho Jayega,” designed to tackle common concerns surrounding item shipments while assuring customers of its top-notch service and convenience.
This campaign underscores Porterâs dedication to trust and quality, showcasing its extensive array of logistics services.
Through this initiative, the company aims to highlight its vast fleet of vehicles, which includes two-wheelers and light commercial vehicles. Porter seeks to position itself as an integrated delivery solution, aspiring to become the go-to destination for all delivery needs for its customers.
Delivery hai? #HoJayega | Deliver parcels big & small with Porter
Porter – Competitors
The on-demand logistics booking landscape in India is rapidly growing, with several competitors successfully operating alongside Porter. Here are some popular apps that are making waves in the logistics sector:
Goody: This app provides a streamlined service for users looking to book deliveries quickly and efficiently, offering various vehicle options to meet different logistical needs.
Vahak: Known for its user-friendly interface, Vahak connects users with truck owners and offers real-time tracking and booking capabilities, making it a strong contender in the market.
Mover: Mover specializes in making the process of moving goods straightforward, catering to both individual and business logistics needs with a focus on reliability.
Packers & Movers by NoBroker: This platform simplifies the moving process for users by connecting them directly with trusted packers and movers, eliminating the middleman and offering competitive pricing.
Shiprocket: Aimed primarily at eCommerce businesses, Shiprocket offers logistics solutions that include shipping, warehousing, and fulfillment services, ensuring a comprehensive approach to delivery.
Porter – Future Plans
Porter is excited to announce its expansion into Thiruvananthapuram and Visakhapatnam as part of its mission to enhance intracity logistics nationwide.
In Thiruvananthapuram, Porter plans to utilize 2-wheelers to streamline goods transportation, addressing the city’s growing logistics needs amid significant infrastructure advancements. In Visakhapatnam, the focus will be on enhancing the cityâs logistics framework, reinforcing its role as a key trade hub.
Ankit Dwivedi, Vice President of Expansion at Porter, highlighted that this initiative aims to solidify Porterâs presence across the country while actively supporting local MSMEs and delivery partners in these areas.
With an ambitious plan to expand to 35 cities within the next two years, Porter intends to recruit a substantial number of driver-partners in each new location. This growth strategy is not only about increasing service reach; it also aims to foster job creation and stimulate local economies. Porter is dedicated to providing dependable, affordable, and tech-savvy logistics solutions, ensuring that intracity transportation in India continues to evolve and improve.
FAQs
What is Porter?
Porter is a technology-driven logistics company providing a range of intracity and intercity delivery services.
Who are Porter founders?
The owners of Porter are Pranav Goel, Uttam Digga, and Vikas Chaudhary.
Who is the CEO of Porter?
Uttam Digga is the Co-founder and CEO of Porter.
Who are the competitors of Porter?
Some of the main competitors of Porter include Goody, Vahak, Mover, Shiprocket and many more.
The global consumer audio market is expected to grow from $127.70 billion in 2025 to $343.60 billion by 2033, expanding at a CAGR of 13.17% during the forecast period (2025â2033), according to Straits Research.
Sonic Lamb, an audio technology brand, is reshaping the way people experience sound. Known for its patented Hybrid Driver Technology, Sonic Lamb offers an immersive, multi-sensory audio experience by combining air, bone, and skin conduction. With a strong focus on innovation, quality, and customer experience, Sonic Lamb is set to make a lasting impact on the global audio market.
In this article, explore more about Sonic Lamb, its founders, business and revenue model, funding, challenges, growth, and future plans.
Sonic Lamb, developed by Rapture Innovation Labs, is a pioneering audio brand renowned for its patented Hybrid Driver Technology.
An innovation that delivers a subwoofer-like experience, enabling headphones and other audio products to reproduce a full-spectrum sound where traditional subwoofers are absent or limited. Unlike conventional headphones, Sonic Lamb offers a unique listening experience by combining air and body conduction, allowing users to both hear and feel the music.
The brand is dedicated to redefining audio engagement by creating a multi-sensory experience where sound is not just heard but physically felt, immersing listeners in a deeper, more resonant way.
Sonic Lamb – Founders and Team
Navajith Karkera and Jagath Biddappa are the co-founders of Raputure Innovation Labs (Sonic Lamb).
As the CEO of Rapture Innovation Labs Pvt. Ltd., Navajith leads strategic direction, fundraising, investor relations, business development, sales & marketing, and team building.
A Mechanical Engineer from Sahyadri College of Engineering, Mangalore, Navajith possesses deep expertise in electronics, product development, rapid prototyping, system design, and PCB design. After graduation, he pursued entrepreneurship-focused programs from NSRCEL-IIM Bangalore, NID Ahmedabad, and Wadhwani Foundation. He also participated in the On Deck fellowship program in California, gaining insights into the global startup ecosystem and international markets.
His experience spans P&L management, business and financial modelling, technology commercialisation, product strategy, business development, and communications.
Jagath Biddappa, CTO
As the Chief Technology Officer, Jagath oversees technology, R&D, product development, manufacturing, and supply chain.
An Electronics Engineer from Sahyadri College of Engineering, he specialises in Embedded Systems, Acoustics, Audio Signal Processing, Wireless Technology, and IoT. With a strong background in hardware solutions, Jagath has contributed to mobility startups and developed acoustics solutions for a med-tech company, reducing its dependency on European technologies.
Team, Work Culture, and Hiring Philosophy at Rapture Innovation Labs
Rapture Innovation Labs (Sonic Lamb) Team
Today, Rapture Innovation Labs has grown into a 35-member team of engineers, designers, and marketers, all passionate about pushing the boundaries of audio technology.
The work culture at Rapture Innovation Labs is characterised by:
Innovation-first: The team loves to experiment and break norms.
Customer-obsessed: Every decision is based on creating the best audio experience for the end user.
Fast & Fun: The team works hard but never forgets to enjoy the ride.
The hiring philosophy is centred around the idea that the company does not hire employees; it hires partners, people who take charge, think outside the box, and want to be part of something groundbreaking. If that sounds like a fit, they encourage individuals to join the team.
Board of Advisors
Rakesh Pandey: Ex-Director of Research & Acoustics at Bose Corporation with 29 years of experience advising us on Product & Technology.
Ratish Pandey: Ex-General Manager at Bose Corporation and one of the key persons for launching Bose in IMEA region with 20 years of experience advising us on business and Go To Market. Also, an Angel investor in Rapture.
Kiran Mani: Ex-Google managing Android and Google Play at APAC region and currently CEO at Viacom 18 and Jio-Hotstar advising us on Marketing, Strategies and Investments. Also, an Angel investor in Rapture.
Sonic Lamb – Startup Story
Sonic Lamb was not conceived in a corporate boardroom or a high-tech lab. It was born out of passion, persistence, and a bold vision shared by Navajith Karkera and his co-founder right after graduating from Sahyadri College of Engineering in Mangalore. They always believed that sound is more than just an auditory experience; it should be felt. That belief led them on a journey to redefine how people experience audio.
Their journey started with a Smart Helmet, an engineering project they worked on as part of a team called Dreamers. The helmet allowed riders to access navigation, music, and calls without blocking their ears, making for a safer and more connected ride. The idea attracted attention from major companies, but due to regulatory challenges surrounding tech-enabled helmets, they had to pivot. Instead of seeing it as a setback, they saw it as an opportunity.
In 2019, after several iterations of their Impulse Driver technology, they had their âEureka!â moment by accident. One weekend, while testing their latest driver design, they integrated it into a pair of headphones. The result? It felt like a home theatre on their ears. The headphones did not just produce sound, they delivered a physically immersive experience, similar to feeling the bass from a subwoofer but without directing sound into the ears. They knew they had something revolutionary, and this is how Sonic Lamb was born.
The initial response was a mix of curiosity and skepticism, after all, feeling sound through headphones was an unconventional idea. But once people tried their prototypes, their reactions were overwhelming. That gave them the confidence to push forward.
They refined their technology, developing the Hybrid Driver System, which combines air conduction with impulse drivers (using bone and skin conduction) to create an immersive sound experience. Their dedication and innovation earned them global recognition, including selection as one of six startups in Denmarkâs Sound Acceleration Program.
Today, Sonic Lamb stands as a proudly Made-in-India brand, tested and tuned in Denmark, and has been recognised on Forbes 30Under30 India and Asia. Their recent feature on Shark Tank India is another milestone in their journey to transform how the world experiences sound.
At Sonic Lamb, the belief is that music is not just meant to be heard; it is meant to be felt.
Sonic Lamb – Vision and Mission
Sonic Lamb envisions transforming the way people experience sound by offering a deeply immersive audio experience that goes beyond conventional listening. The brand aspires to create a world where sound is not just heard but also felt, creating a multi-sensory connection to music. Through its proprietary Hybrid Driver Technology, Sonic Lamb aims to redefine audio engagement, making sound more realistic, captivating, and immersive.
At Rapture Innovation Labs, the core belief is that sound is more than just an auditory experience, it is a multi-sensory journey that resonates through the body and soul. The mission is to deliver audio in its purest form, replicating the immersive feel of a live performance. The company is driven by innovation, user experience, and a relentless pursuit of excellence in hardware technology. Every product it creates is backed by deep research and engineering precision, ensuring that users do not just hear sound but they feel it.
Motto: “Don’t Just Hear, FEEEL the Music.”
This reflects the companyâs mission of bridging the gap between hearing and experiencing sound, ensuring every beat, bass drop, and melody is felt as much as heard.
Sonic Lamb – Name, Tagline, and Logo
Sonic Lamb Logo
When naming the brand, Rapture Innovation Labs wanted something that captured two fundamental elements: Sound and Sensation.
âSonicâ represents pure sound, precision, and audio innovation.
âLambâ symbolises breaking stereotypes, with a playful, jester-like persona that embodies warmth and a deeper sensory connection.
The tagline, âDonât just hear, Feeeel itâ, encapsulates the essence of Sonic Lamb. Unlike conventional headphones that only let users hear sound, Sonic Lamb makes them feel it, just like being at a live concert or experiencing a subwoofer-powered home theatre. The tagline keeps it simple while conveying this immersive experience.
The logo features Sonic, a character who is not just a lamb but a symbol of individuality and creativity. Sonic challenges the herd mentality, embodying authenticity, originality, and purpose over fleeting trends. His philosophy, âWhy follow the herd when you can lead with purpose?â, reflects the companyâs commitment to making a lasting impact rather than just chasing trends.
đĄ
Sonic Lamb is not just about sound, it is about a revolution in experiencing music.
Sonic Lamb – Products/Services
Sonic Lamb Headphones
Sonic Lamb, by Rapture Innovation Labs, is revolutionising the way people experience audio with the worldâs first hybrid driver headphones featuring WooferPadsâ˘. Unlike traditional headphones that rely solely on air conduction, Sonic Lamb integrates both air and body conduction, delivering not just sound, but a deep, physical sensation that replicates the feeling of a live concert or a high-end home theatre system.
The technology behind Sonic Lamb is the proprietary Hybrid Driver System, which combines:
Air Conduction for detailed sound clarity
Impulse Drivers (WooferPadsâ˘) using bone and skin conduction to deliver deep bass that users do not just hear but physically feel
This innovation solves a fundamental problem in personal audio: traditional headphones either overemphasise bass at the cost of clarity or fail to deliver a truly immersive experience. Sonic Lamb bridges that gap, allowing users to experience the full spectrum of sound without excessive volume, making it a safer and more engaging way to enjoy music.
Sonic Lamb operates on a direct-to-consumer (D2C) and retail distribution model, selling through its official website, major e-commerce platforms, and select offline stores.
The primary revenue stream comes from premium headphone sales, priced at INR 17,999 ($239 internationally), ensuring healthy margins while maintaining a strong focus on innovation, quality, and customer experience.
Looking ahead, the company plans to expand its revenue streams by supplying and licensing its proprietary Hybrid Driver Technology for applications in automotive audio, gaming, home entertainment, and VR sectors where immersive sound can create a next-level experience. This strategic move will position Rapture Innovation Labs not just as a headphone brand but as a leader in audio innovation across industries.
Sonic Lamb – Funding
Sonic Lamb has raised a total funding of INR 5.35 crore, with its current valuation standing at INR 50 crore as of May 2025.
Here are the funding details as sourced from Tracxn:
Date
Round
Amount
Investors
Feb ’25
Angel
INR 50 Lakh
Peyush Bansal
Oct ’23
Grant
INR 60.0 Lakh
SINE, DST, Ministry of Electronics & IT, Govt of Karnataka
May ’23
Seed
INR 2.2 Crore
Sushre Global, Vibhuaya Technologies, Pearltri Global
Amit Pawar, Director, Microsoft Worldwide Education
Vijay Bharadwaj, Director, IBM Workforce Management
Sharada Satrasala, Formerly with Qualcomm and Texas Instruments
How Funding Has Fuelled Sonic Lambâs Growth: The capital raised has played a vital role in supporting Rapture Innovation Labs (Sonic Lamb) across multiple fronts:
R&D of its patented Impulse Drivers and development of Sonic Lamb headphones
Digital marketing initiatives
Inventory procurement and manufacturing setup in India
Securing patents and trademarks
Certification processes to enable sales in North America and the EU region
Funding Journey & Challenges: Raising capital as a deep-tech hardware startup came with its own set of challenges, especially due to longer R&D cycles and the capital-intensive nature of hardware development. However, the team at Rapture Innovation Labs successfully navigated these hurdles through a strategic approach:
Leveraging Tech Reviews & Publications: Awareness generated through trusted tech media led to organic sales and built credibility, sparking inbound interest from potential investors.
Building Investor Confidence: Early traction and visible global demand helped reassure investors, particularly as the team maintained efficient marketing spends.
Overcoming Market Skepticism: The team focused on educating the investor ecosystem about how Sonic Lambâs patented technology is pioneering a new category in personal audio.
Next Steps: With future funding, Rapture Innovation Labs plans to:
Scale production and marketing
Strengthen exports and retail distribution
Seed B2B partnerships
Expand the product line
All these efforts are directed towards positioning Sonic Lamb as the category leader in physically immersive audio experiences.
Sonic Lamb – Launching Company Strategies
Sonic Lamb was launched with a strong community-driven approach, focusing on early adopters, music lovers, and tech enthusiasts who value cutting-edge innovation. The first 100 customers were acquired through three key strategies:
Crowdfunding and Pre-orders: The team built curiosity around their unique technology, securing early believers who were eager to experience a new way of listening to music.
Tech Influencers and Reviewers: Collaborations with trusted voices in the industry helped create organic awareness and credibility through their reach and insights.
Word-of-Mouth and Referrals: Passionate early users became strong advocates, sharing their experiences and supporting growth through genuine recommendations.
By combining these strategies, Sonic Lamb not only validated its product but also built a loyal community that continues to fuel its growth.
Sonic Lamb – Customer Growth and Retention Strategies
Scaling from the first 100 customers to over 10,000 has been a journey driven by strategic growth and consistent customer retention efforts. The team at Sonic Lamb has always prioritised an experience-first approach, ensuring that people do not just hear about the brand but truly feel it. Several key strategies have fuelled this growth:
Experience-First Approach: Given the uniqueness of the product and the unparalleled audio experience it offers, hands-on demos became the preferred method. Whether through offline experiences, influencer collaborations, or participation in major tech expos like CES, the real difference of Sonic Lamb is understood only when it is experienced.
Tech Reviews: In-depth reviews and validation by respected tech reviewers helped establish credibility, providing authenticity and support for the companyâs claims.
Shark Tank India: Being featured on Shark Tank India brought significant visibility and a strong credibility boost. The confidence expressed by the sharks strengthened consumer trust and positioned Sonic Lamb as a leading innovator in audio technology.
Referral and Loyalty Programmes: Early adopters played a crucial role as brand advocates. Well-structured referral and loyalty initiatives encouraged word-of-mouth promotion, which contributed significantly to organic growth.
Strategic Partnerships: In addition to the direct-to-consumer model, Sonic Lamb expanded into premium retail stores and collaborated with technology and music influencers to effectively reach its target audience.
Marketing Spend and Growth Hacking
The focus has been on high-ROI digital campaigns, influencer-driven outreach, and content-led awareness. Instead of heavy advertising expenditure, the team leveraged organic reach, public relations, and strategic digital marketing to drive sustainable growth and maintain strong customer engagement.
By remaining committed to the core mission of making music not just heard but felt, Sonic Lamb continues to expand its community and transform the way people experience sound.
Sonic Lamb – Challenges Faced
If someone had explained just how difficult the entrepreneurial journey would be, the founders might have reconsidered. However, as engineers passionate about innovation, they never viewed obstacles as setbacks. Instead, each challenge became a learning experience and an opportunity that helped shape Sonic Lambâs evolution.
From a Failed Smart Helmet to a Revolutionary Headphone
The teamâs initial project, a Smart Helmet, was innovative and fulfilled its technical promise. However, it lacked commercial viability. In a fortunate turn of events, the impulse driver technology developed for the helmet was repurposed into headphones. This pivot led to the creation of Sonic Lamb, a product that delivered not only great audio clarity but also deep, feel-the-music bass similar to that of a loudspeaker.
Market Outreach – Getting People to âFeelâ the Sound
Sonic Lamb redefined personal audio by offering a sensory music experience. The challenge, however, was that the headphones appeared like any other. Consumers needed to experience the product to understand its true difference.
Solution: The team relied on event participation, influencer marketing, and collaborations with tech reviewers. These strategies provided hands-on exposure to the product and helped build credibility, demonstrating how Sonic Lamb transformed the way people listened to music.
Manufacturing in India – The Cost Challenge
The vision extended beyond innovation. It included manufacturing the product entirely in India. However, high production costs posed a major challenge.
Solution: Through crowdfunding, the team raised initial funds to set up in-house manufacturing, keeping costs manageable while maintaining quality.
Funding – From a College Project to a Startup
The founders, both engineering students from modest backgrounds, faced significant difficulty in securing the funds necessary to turn their concept into a real business.
Solution: With the help of government grants, support from Deshpande Startups, early angel investors, and eventually, a feature on Shark Tank India, Sonic Lamb gained the financial backing and validation needed to grow.
What began as a failed helmet project has become a breakthrough innovation in personal audio. Every challenge has made the team more resilient. Today, Sonic Lamb is focused on scaling, diversifying its product range, and becoming the preferred brand for immersive sound experiences.
Sonic Lamb – Marketing Strategy
One of the most successful marketing strategies for Rapture Innovation Labs (Sonic Lamb) has been leveraging experiential marketing. As Sonic Lamb delivers a unique sensory experience, traditional advertising was not sufficient, they needed people to actually feel the difference.
Live demonstrations at tech events, collaborations with influencers, and their appearance on Shark Tank India played a key role in building awareness and credibility. The Shark Tank episode, in particular, resulted in a significant spike in website traffic and sales.
In addition, targeted digital campaigns highlighting key USPs such as âWorldâs First Subwoofer Headphonesâ and âFeel the Music, Not Just Hear Itâ helped position Sonic Lamb as a category-defining product, drawing the attention of both tech enthusiasts and audiophiles.
Sonic Lamb – Startup Programs and External Support
Startup programs: SoundHub Accelerator program in Denmark, support from Deshpande Startups, T-HUB, SINE IIT-B, NSRCEL IIM-B
Grants: TIDE 2.0 from Meity, NIDHI Prayas from DST and Elevate100 grant from the Government of Karnataka.
Government-sponsored schemes: KESDM (Govt. of Karnataka) financial assistance for International patent, international product certifications and R&D
Accelerators: SoundHub Accelerator Denmark for audio competence and global benchmarking, as well as product testing and tuning
Incubators: Deshpande Startups
Sonic Lamb – Growth
Sonic Lamb Founders at Shark Tank India
Sonic Lamb is growing at an exciting pace. The brand has established a strong presence in India and is now expanding globally. Its patented Hybrid Driver Technology has struck a chord with audio and tech enthusiasts, resulting in a loyal and growing user base.
The appearance on Shark Tank India marked a significant turning point, not only boosting brand awareness but also driving a notable surge in demand. To meet this, the team is scaling production and broadening its market reach.
Sonic Lamb currently operates from its headquarters in India, with manufacturing and testing collaborations in Denmark to further refine its technology. The response from users has been exceptional; thousands have already experienced the immersive audio Sonic Lamb delivers, and industry experts are beginning to take notice.
Looking ahead, the focus remains on expanding the product line, scaling production, and strengthening the brandâs global presence. With strong customer feedback, industry recognition, and a growing market share, Sonic Lamb is well on its way to becoming a global audio brand.
Sonic Lamb – Recognitions and Achievements
Sonic Lamb Founders’ Achievements
Sonic Lamb has been recognised globally and nationally for its innovation in audio technology. Some of our key achievements include:
Forbes 30 Under 30 Asia & India: The founders were featured for redefining how the world experiences sound.
What Hi-Fi? Award for Innovation: Recognised for pioneering the worldâs first hybrid driver headphones with WooferPadsâ˘.
Selected for SoundTech Accelerator in Denmark: One of the only seven startups globally, and the only one from outside Europe.
Promising Startup of Hubli-Dharwad-Belagavi: Recognised at TiECon for innovation and impact in the region.
Featured in Top Tech Publications: TechRadar, Hindustan Times, Times of India, Indian Express, and more.
KPIT Sparkle Gold Award: Won for early-stage innovation in audio technology.
Shark Tank India Season 4: Garnered interest from multiple Sharks on the panel, further solidifying our position as a category-defining brand.
Showcased at CES 2025 in Las Vegas, the worldâs largest consumer technology event.
Sonic Lamb – Competitors
Sonic Lamb faces competition from several well-established legacy premium headphone brands, including Sony and JBL.
Sonic Lamb – Future Plans
Product Innovation & Expansion
Next-Gen Sonic Lamb Headphones: The brand is enhancing its hybrid driver technology with improved sound personalisation and more refined WooferPadsâ˘.
Automotive Integration: Advancing Sonic Lamb’s Sonic Seat technology to bring immersive sound to car seats, aiming to create a next-level in-car audio experience.
Global Market Expansion
Sonic Lamb is strengthening its presence in North America, Europe, and Southeast Asia, where the demand for high-quality audio experiences is rapidly growing.
The brand is expanding retail partnerships to bring Sonic Lamb to premium electronics stores and experience centres worldwide.
R&D & Tech Enhancements
Significant investments are being made in AI-powered personalised sound tuning for users.
There are continuous improvements to battery life, wireless connectivity, and material durability.
Sonic Lamb is advancing its proprietary audio algorithms to offer a richer, more immersive experience.
Community & Brand Growth
Sonic Lamb is building an engaged global community of audiophiles, musicians, and gamers who love immersive sound.
The brand is leveraging its exposure from Shark Tank to drive brand awareness and strategic collaborations.
There is an ongoing expansion of direct-to-consumer sales via e-commerce, partnerships, and collaborations with content creators and influencers.
FAQs
What is Sonic Lamb?
Sonic Lamb, developed by Rapture Innovation Labs, is a pioneering audio brand renowned for its patented Hybrid Driver Technology. It is revolutionising the way people experience audio with the worldâs first hybrid driver headphones featuring WooferPadsâ˘.
Who are the founders of Sonic Lamb?
Navajith Karkera and Jagath Biddappa are the co-founders of Raputure Innovation Labs (Sonic Lamb).
Did Sonic Lamb secure funding from Shark Tank India?
Yes, Sonic Lamb secured INR 50 lakh in funding from Peyush Bansal on Shark Tank India for 1% equity and 1% advisory equity, with a valuation of INR 50 crore. This funding helped fuel their growth and further establish their presence in the audio technology market.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations.
Indiaâs digital lending market is on a rapid rise, projected to reach $1.3 trillion by 2025. With increasing smartphone usage, growing financial awareness, and a nationwide push for financial inclusion, the demand for fast, secure, and accessible loan solutions is stronger than ever. Among the key players transforming this space is Olyv, one of Indiaâs most trusted personal loan providers.
Olyv stands out for its customer-first approach, offering instant approvals, competitive interest rates, flexible repayment options, and a seamless digital experience. Powered by advanced technology, smart risk models, and strong partnerships, Olyv is simplifying the borrowing experience and enabling financial freedom at scale.
In this article, explore more about Olyvâits founders, business and revenue model, funding journey, challenges faced, growth trajectory, and more.
Olyv – Company Highlights
Name
Olyv
Headquarters
Bengaluru, Karnataka, India
Sector
Fintech
Founders
Rohit Garg, Jayant Upadhyay, Amit Chandel, Vinay Singh
Olyv, formerly known as SmartCoin, was founded in 2017 as an app-based consumer lending platform that partnered with RBI-registered lenders to provide quick personal loans to underbanked self-employed and salaried individuals in India. Over the years, Olyv has evolved into a comprehensive digital financial platform, offering a wide range of services, including higher ticket size loans (upto 5 lakh), digital gold savings, and credit score management products.
With over 4 Crore users and a presence across 19,000+ pin codes, Olyv is ISO-certified and has become a trusted name in the fintech space. Backed by reputed investors like LGT Lightorck, Olyv is supported by a team of ~500 professionals dedicated to empowering the next billion pan-Indian population through technology-driven financial solutions. Olyv is also an active member of industry bodies like DLAI and FACE, working to improve the fintech ecosystem for both customers and industry players.
Olyv – Industry
Indiaâs fintech market is one of the fastest-growing globally, projected to reach $1.3 trillion by 2025. Olyv operates in the digital lending space, which is a significant segment of this market. With increasing smartphone penetration and digital adoption, the demand for accessible financial products is expected to grow exponentially. Olyv aims to capture a significant share of this market by expanding its offerings and reaching underserved populations.
Olyv – Founders and Team
Rohit Garg – Olyv Co-Founder and CEO
Rohit Garg, Amit Chandel, Vinay Kumar Singh, and Jayant Upadhyay are Co-Founders of Olyv.
At Olyv, the work is strategically divided among the co-founders based on their expertise. Rohit Garg, as the Co-Founder & CEO, leads the company’s vision, strategy, and overall business growth. Amit Chandel, the Co-Founder & CTO, oversees technology and innovation, ensuring a seamless digital lending experience. Vinay Kumar Singh, the Co-Founder & CPO, focuses on product development, enhancing user experience, and driving innovation in financial offerings. Jayant Upadhyay, the Co-Founder & COO, manages operations, ensuring efficiency in processes and execution. Together, they combine their strengths to make Olyv a trusted financial partner for users in India.
Olyv – Startup Story
Olyv was founded with the vision of providing quick and accessible credit to underserved users in India. The inspiration came from recognizing the financial struggles of individuals who lacked access to traditional credit due to limited credit history or formal financial footprints. The founders saw an opportunity to bridge this gap using technology and data-driven risk assessment. To validate the idea, they leveraged digital lending models, analyzing customer behavior and repayment patterns to refine their approach. By focusing on simplicity, speed, and reliability in financial services, Olyv has been able to not only scale massively but also in a profitable manner, validating the business model.
Olyv – Mission and Vision
Mission
Olyvâs core beliefs revolve around trust, transparency, and innovation. The company is committed to bridging the credit gap for underserved communities by using cutting-edge technology to deliver seamless and user-friendly financial services.
Its mottoaligns with its mission to provide accessible and affordable financial solutions, enabling individuals to achieve their aspirations and improve their financial well-being. By combining technology, customer-centricity, and strategic partnerships, Olyv is dedicated to creating a sustainable and inclusive financial ecosystem for emerging India.
Vision
Olyvâs short-term vision focuses on expanding its reach and enhancing its product offerings to serve the underserved population of India, particularly in Tier 2+ cities. This includes leveraging advanced AI and machine learning to analyze user behavior, predict financial needs, and deliver highly personalized financial products with unmatched accuracy and speed. Olyv further aims to elevate its growth through embedded partnerships and expanding its product offerings based on customer needs.
Olyv aims to become a one-stop digital financial platform in the long term, empowering the next billion Indians with technology-driven financial products that foster financial inclusion and wellness.
Olyv – Name, Tagline and Logo
Olyv Logo
The name âOlyvâ was conceptualized with the understanding of keeping a uniquely significant name for the brand that is category-extendable and also extremely easy to pronounce. The company also has anecdotal references of âOliveâ being a beacon of prosperity and growth across multiple global cultures. Choosing a lucid name like Olyv was a call taken with an in-depth understanding of both historical as well as practical references. The fact that the new name âOlyvâ is attributed to the higher brand mentions as compared to the previous brand name is a testimony to the seamless adoption and brand awareness amongst the customers.
The Olyv Logo is designed with the thought of a dart and an upward trending arrowhead, where the dart shows the depth of its product offerings, and the upward trending arrowhead signifies the growth and progress of its customers enabled via Olyvâs offerings.
The tagline âJahan Sapne Wahan Olyvâ is an ode to its relentless pursuit to be the partner to the aspirations of the âEmerging Indiaâ democratizing credit access for all.
Olyv – Business Model and Revenue Model
Olyv operates as a comprehensive digital financial platform, offering a range of products such as personal loans, digital gold savings, and a credit score. Its business model revolves around leveraging advanced AI and machine learning to provide tailored financial solutions to underserved and underbanked individuals, including self-employed professionals, gig workers, and salaried individuals. Olyv generates revenue and profits through a combination of its core offering, i.e. digital lending (through interest on loans and processing fees) and cross-selling other services including digital gold savings and credit score management.
The platformâs pricing is competitive, with interest rates and fees structured to ensure affordability while maintaining healthy profit margins. By focusing on financial inclusion and using technology to minimize operational costs, Olyv has achieved a scalable and sustainable revenue model. Additionally, strategic partnerships, such as the one with Sourav Ganguly, are expected to drive customer acquisition and retention, further enhancing profitability and market penetration.
Olyv – Product/ Services
Olyv offers a range of financial products, including unsecured personal loans, digital gold savings, and credit score management. The app allows users to avail of personal loans through RBI-registered lenders, enabling safe loan approvals and disbursements. It solves the problem of financial exclusion by providing underserved individuals with access to credit and savings tools, helping them achieve their financial goals.
Olyv – Launching Company Strategies
The company began by tapping into their networksâfamily and friendsâto build an initial customer base. This approach provided valuable feedback and allowed them to refine their offering early on. Social media played a crucial role in amplifying their reach, enabling them to connect with early adopters. Additionally, word-of-mouth marketing proved highly effective, as satisfied users recommended their services to others.
Importantly, the company prioritized direct conversations with customers to better understand their challenges and preferences. This hands-on, customer-centric approach helped build trust and ensured they were addressing a genuine problem. By remaining focused on the customer and staying agile, they were able to grow organically and establish a strong foundation for Olyv.
Olyv – Growth
Olyv has a massive distribution with 4 Crore users and a pan-India presence, disbursing loans to 19,000+ pin codes across the country. To date, Olyv has disbursed approximately 1 billion in loans across around 6 million loans with about 75% repeat customers. The new products launched in the last few quarters (including digital gold savings and credit score management) are scaling rapidly and have helped reach over 2.5 million MAUs across its platform, already contributing to the companyâs bottom line.
It has partnered with reputed investors, and its impact has been recognized at platforms like the World Economic Forum.
Olyv – Customer Growth and Retention Strategies
Since its launch, Olyv has implemented several innovative strategies to drive customer growth and retention, particularly targeting underserved segments of society, including self-employed individuals, early-salaried professionals, and customers from Tier 2+ cities. One of the key strategies has been leveraging advanced AI and machine learning to offer personalized financial solutions, ensuring a seamless and user-friendly experience. Olyv has also focused on building trust and transparency by clearly communicating loan terms, interest rates, and repayment processes, which has been critical in attracting and retaining customers who are often skeptical of digital financial platforms.
Additionally, strategic partnerships, such as the collaboration with Sourav Ganguly, have played a significant role in driving awareness and adoption of Olyvâs services across India. This partnership has helped Olyv reach a wider audience, particularly in smaller cities and towns, while reinforcing its mission of financial inclusion. By continuously expanding its product portfolio to include services like larger loans, digital gold savings, and credit health management, Olyv has been able to meet the evolving needs of its customers, fostering long-term loyalty and growth.
Sourav Ganguly’s Collaboration with Olyv
Olyv – Challenges
Olyv has encountered several challenges on its journey to becoming a leading digital financial platform. One of the key challenges was assessing the creditworthiness of individuals with limited or no formal credit history. Olyv tackled this by leveraging advanced AI and machine learning algorithms to analyze alternative data points, enabling them to provide personalized loans while minimizing risks.
Additionally, scaling operations to meet the growing demand for financial services in India posed a challenge. With the support of strategic funding from investors, Olyv expanded its product offerings and enhanced its technological infrastructure. By focusing on innovation, customer trust, and strategic partnerships, Olyv has successfully navigated these challenges, emerging as a trusted platform for financial management in India.
Olyv – Funding
Olyv has been successfully raising capital across instruments, including equity, venture debt, and debt, to support its mission of driving financial inclusion for underserved communities in India. Over the years, the company has attracted investments from prominent fintech investors. This funding has enabled the company to transition from a consumer lending platform to a comprehensive digital financial ecosystem, offering services such as larger loans, digital gold savings, and credit score management. Supported by a strong network of investors and a clear vision, Olyv continues to innovate and grow, aiming to empower the next billion Indians with accessible and technology-driven financial solutions.
Here are the funding details of Olyv as sourced from Tracxn:
Date
Round
Amount (USD)
Lead Investors
Jan 02, 2024
Series B
1.66M
Trifecta Capital
Aug 08, 2023
Series B
1.73M
India SME Investments
Jul 11, 2023
Series B
2.97M
Lightrock
Nov 02, 2022
Series B
3.93M
Lightrock
Feb 14, 2022
Series B
6.89M
India SME Investments
Feb 17, 2020
Series A
7M
Anita Lifestyle Udyog
Jul 08, 2017
Seed
2.04M
01VC
Feb 20, 2017
Seed
500K
Unicorn India Ventures
Olyv – Key Tools and Software
Olyv uses in-house advanced AI and machine learning tools for credit score checks, risk assessment, and customer engagement. The app is built on a robust tech stack to ensure scalability and security.
Olyv – Social Media Campaigns
One of Olyvâs most successful marketing campaigns has been its rebranding initiative, which marked its evolution from SmartCoin to Olyv. This campaign was designed to communicate the companyâs transformation from a consumer lending platform to a comprehensive digital financial ecosystem. The rebranding highlighted Olyvâs expanded offerings, including larger loans, digital gold savings, and credit score management, while emphasizing its mission to empower underserved Indians.
The campaign leveraged a mix of digital marketing, social media engagement, and storytelling to connect with its target audience, showcasing real-life success stories of users who benefited from Olyvâs services. By focusing on trust, transparency, and financial inclusion, the campaign resonated deeply with its audience, driving significant user engagement and reinforcing Olyvâs position as a leader in the fintech space. This strategic effort not only strengthened brand recall but also aligned with Olyvâs vision of fostering financial wellness for emerging India.
Olyv – Startups Program/External Support
Olyv has participated in programs like Googleâs Launchpad Accelerator, which provided mentorship, resources, and networking opportunities, helping the company scale its operations.
Olyv – Awards and Achievement
Fintech Startup of the Year – 2025 by the jury of ET BrandEquity
Best AI Application of Tech for Good at the Financial Express Futech Award 2022, and was recognized at the prestigious World Economic Forum for its mission to drive tech-enabled financial inclusion.
Olyv has been celebrated at national and international platforms, including Googleâs Launchpad Accelerator and the Global Inclusive50 by MetLife, VISA, and IFC.
Olyv’s biggest achievement lies in transforming from a credit-led platform to a comprehensive digital financial ecosystem, offering services like larger loans, digital gold savings, and credit health management. Supported by marquee investors including Lightorck, and as an active member of DLAI and FACE, Olyv continues to lead the way in fostering financial inclusion and wellness for emerging India.
Over the next 1â2 years, the companyâs primary focus will be on scaling operations and enhancing its offerings to better serve customers. Taking inspiration from successful rebranding and growth strategies, such as those implemented by Olyv, it plans to invest significantly in technology and innovation to improve user experience. This includes expanding its product portfolio, leveraging data analytics for personalized solutions, and strengthening its digital presence through targeted marketing campaigns.
In addition, the organization aims to forge strategic partnerships and explore new markets to drive growth. By prioritizing customer-centric approaches and maintaining agility in its strategies, it is confident in achieving sustainable growth and solidifying its position as a leader in the industry.
FAQs
What is Olyv?
Olyv is an app-based consumer lending platform that partnered with RBI-registered lenders to provide quick personal loans to underbanked self-employed and salaried individuals in India.
What are the benefits of using Olyv for a personal loan?
The advantages of using Olyv could include speed, convenience, transparency, competitive interest rates, or a more streamlined application process.
Is Olyv approved by RBI?
Olyv is also registered with the RBI and adheres to the regulations set by the Reserve Bank of India.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations.
Varun Beverages Limited (VBL) stands as a significant player in the beverage industry. Furthermore, VBLâs continued focus on expanding its global footprint, coupled with its aggressive market penetration strategies, has allowed it to build lasting relationships with suppliers, distributors and consumers alike. As it eyes future growth through strategic acquisitions and market diversification, Varun Beverages is poised to maintain its momentum in both the Indian and international markets.
In this StartupTalky, we will explore the strategies, challenges, and achievements that have shaped Varun Beveragesâ journey toward becoming a leader in the beverage industry.
Varun Beverages Limited – Company Highlights
Name
Varun Beverages Limited
Headquarters
Haryana, India
Sector
Manufacturing, bottling and distribution of beverages
Varun Beverages Limited (VBL) is among the largest PepsiCo franchisees globally, outside of the United States.
Since partnering with PepsiCo in the 1990s, VBL has built a strong and lasting relationship, steadily expanding its reach and operations. Over the past 25+ years, the company has grown its footprint by acquiring more licensed territories and sub-territories, diversifying its product lineup with new beverage options and packaging formats and strengthening its distribution network.
VBL produces, distributes and sells a wide array of beverages. These include carbonated soft drinks (CSDs) and a broad range of non-carbonated beverages (NCBs), such as packaged drinking water, all under well-known PepsiCo trademarks. The companyâs commitment to quality and innovation ensures that it caters to the evolving tastes of consumers while staying true to its partnership with PepsiCo.
India’s beverages industry has seen a surge of over INR 50,000 crores in investments in recent years, highlighting its growing importance in the countryâs economy. The non-alcoholic, ready-to-drink segment alone is on track to surpass INR 1.5 lakh crore in market size by 2030. This sector contributes significantly to the economy, adding an estimated INR 80,000 crores through its downstream and upstream activities.
A substantial portion of this investment has been directed toward building and expanding manufacturing and bottling facilities, particularly in Tier 2 and Tier 3 cities across various states. This has created tens of thousands of jobs and offers immense potential for further employment growth. The industry also plays a vital role in supporting Indiaâs âsunriseâ food processing sector and acts as a backbone for the vast network of kirana shops and retailers nationwide.
However, challenges persist. A high GST rate of 40% is putting pressure on the industry, potentially stifling opportunities for employment, investment and entrepreneurship.
According to recent research by the CMI Team, Indiaâs carbonated beverages market is poised for steady growth, with an expected CAGR of 6.5% between 2024 and 2033. The market size, valued at $80.1 billion in 2024, is projected to reach a significant $141.1 billion by 2033, underscoring the sectorâs potential and resilience in the face of challenges.
Varun Beverages Limited – Founders and Team
Ravi Kant Jaipuria Chairman – RJ Corp
Manager – Varun Beverages
Ravi Jaipuria, often hailed as “Indiaâs Cola King,” is a billionaire entrepreneur and the chairman of RJ Corp. Through RJ Corp, he oversees Varun Beverages, PepsiCoâs largest bottling partner outside the United States and Devyani International, Indiaâs largest franchisee of Yum! Brands. Under his leadership, Devyani International operates popular chains like KFC, Pizza Hut, Costa Coffee and TWG Tea outlets across the country.
Jaipuria pursued business management studies in the United States before returning to India in 1985 to join the family business as a Pepsi bottler. Over the years, he has expanded his ventures across various industries, including a minority stake in Medanta, a leading healthcare organization. His innovative approach and sharp business acumen have cemented his position as a key figure in Indiaâs beverage and foodservice industries.
Varun Beverages Limited – Mission and Vision
Mission Varun Beverages Limited (VBL) is dedicated to utilizing resources effectively, empowering its workforce and contributing meaningfully to society through its commitment to excellence and ethical practices.
Vision By focusing on sustainable growth, robust financial performance and maximizing market share, VBL aspires to lead the industry while maintaining a forward-thinking approach to its business and community responsibilities.
Varun Beverages Limited – Name, Tagline and Logo
Varun Beverages Logo
Guided by its slogan, “Grow Consistently. Sustain Constantly.”, VBL is dedicated to delivering refreshing experiences to consumers while fostering sustainable business practices.
Varun Beverages Limited – Business Model
Varun Beverages Limited (VBL) operates a robust business model centered around the manufacturing, distribution and marketing of PepsiCo beverages in India. The companyâs well-integrated operations ensure seamless delivery of high-quality beverages to consumers across diverse markets.
Manufacturing VBL manufactures and bottles a wide range of PepsiCo beverages, including carbonated soft drinks (CSDs), non-carbonated beverages (NCBs) and packaged drinking water (PDW). Key raw materials, such as sugar and PepsiCo concentrates, are sourced from approved suppliers to maintain quality standards. Additionally, VBL produces packaging materials like preforms, crowns and plastic closures in some of its facilities, enhancing operational efficiency.
Distribution The companyâs extensive distribution network caters to traditional and modern retail outlets in urban, semi-urban and rural markets. By leveraging this reach, VBL ensures its products are widely available, meeting the diverse demands of its customer base.
Varun Beverages Limited – Revenue Model
Collaboration with PepsiCo VBLâs partnership with PepsiCo is a cornerstone of its operations. Under a franchisee agreement, VBL is authorized to manufacture and market PepsiCo beverages within designated regions. PepsiCo supports this partnership by providing established brands, concentrates and marketing guidance. In return, VBL pays royalties for using trademarks such as “LEHAR” with products like Aquafina and Evervess, reflecting the collaborative synergy between the two companies.
Marketing VBL drives market presence and brand visibility through localized marketing and promotional efforts, such as investing in chilling equipment and Below-The-Line (BTL) marketing campaigns. These initiatives aim to boost market share while connecting with consumers at a community level.
Varun Beverages Limited – Challenges Faced
Demand Risk
Risk: A slowdown in target markets or cyclical downturns could reduce sales velocity and adversely impact the companyâs growth.
Mitigation Plan:Varun Beverages adopts a strategic approach by offering the right brands, featuring tailored products at competitive prices and leveraging effective distribution channels. Its diverse product portfolio caters to the varying tastes and preferences of different consumer segments, ensuring steady demand. Furthermore, the company operates in underpenetrated markets characterized by favorable demographics, growing populations and supportive climatic conditions, contributing to consistent sales growth.
Business Agreement Risk
Risk: Dependence on strategic relationships with PepsiCo poses a risk of termination or less favorable terms during agreement renewals, potentially affecting profitability.
Mitigation Plan: Over three decades, Varun Beverages has fortified its relationship with PepsiCo by expanding its territories, diversifying its product offerings and strengthening its distribution network. This partnership has grown stronger, as evidenced by the extension of the bottling appointment and trademark license agreement with PepsiCo India until April 30, 2039. By collaborating on strategic initiatives, investing in joint projects and fostering trust, VBL ensures a mutually beneficial and enduring relationship with PepsiCo, safeguarding its long-term profitability and operational stability.
Varun Beverages Limited – Mergers and Acquisitions
Varun Beverages has strategically pursued mergers and acquisitions to expand its market footprint and enhance its production and distribution capabilities, strengthening its position as a leading beverage company globally.
Acquiree Name
Announced Date
Price
SBC Tanzania
Nov 12, 2024
INR 13 crore
The Beverage Company
Dec 19, 2023
ZAR 3B
Varun Beverages Limited – Financials
Varun Beverages Ltd. Financials (Consolidated)
2024 (INR crore)
2023 (INR crore)
Total Operating Revenue
20,007.65
16,042.58
Total Expenses
16,694.35
13,382.10
Profit/Loss After Tax
2,635.76 (Profit)
2,102.29 (Profit)
Varun Beverages Financials
Varun Beverages Limited – Advertisements and Social Media Campaigns
‘Swag se Solo’ Campaign
‘Swag se Solo’ Campaign
The âSwag se Soloâ campaign launched during the COVID-19 pandemic cleverly combined cultural heritage and public health messaging. Key takeaways:
Cultural Relevance: By highlighting the namaste and salaam gestures, the campaign embraced traditional Indian greetings, making them a symbol of both respect and safety.
Public Health Advocacy: The campaign effectively communicated the importance of social distancing in a relatable and responsible manner.
Youth Engagement: By positioning these traditional greetings as âcool,â the campaign resonated with younger audiences, promoting safe behavior while staying trendy.
2020 Campaign: Encouraging Self-Belief and Confidence
Pepsiâs 2020 campaign emphasized individuality and self-expression through its tagline and message. Key observations:
Celebration of Individuality: The campaign empowered young people to be authentic, challenging societal norms and judgments with self-confidence and âswag.â
Youth-Centric Messaging: It addressed the core struggles of Indian youth, like societal expectations, in a relatable manner.
Effortless Cool: The filmâs tone and Salman Khanâs persona reinforced the brandâs appeal as youthful, bold and unapologetically self-assured.
Varun Beverages Limited – Awards and Achievements
Corporate Governance Awards:
Business Brand Award for Best Corporate Governance
CFI.CO (UK) for Best FMCG Corporate Governance: A prestigious recognition received for four consecutive years (2018-2022), highlighting consistent excellence in corporate governance within the FMCG sector.
India Achievers’ Award for Best Corporate Governance: Bestowed in 2022.
Responsible Business Award for Best Corporate Governance: Received in 2022.
Golden Peacock Award for Excellence in Corporate Governance: Awarded in 2021.
Quality Awards
Golden Peacock National Quality Award: Recognized in 2022.
CII National Award for Food Safety: Received for the production facility in Nuh, emphasizing the companyâs commitment to food safety and hygiene standards.
Sustainability Recognition
PepsiCoâs âBetterâ Category Award: Acknowledged for the companyâs contributions towards sustainability, showcasing its initiatives to reduce environmental impact and promote sustainable practices across its operations.
Varun Beverages Limited – Competitors
These companies are key players in both the beverage and food industries, with many of them directly competing with Varun Beverages through their product offerings and market presence. Beverage Companies:
Varun Beverages (VBL) is planning to raise INR 7,500 crore through a Qualified Institutional Placement (QIP). This capital will be used to fund its expansion efforts, including investments in subsidiaries and strategic acquisitions. Additionally, the funds will be directed towards debt repayment and other corporate purposes.
Revenue Growth
VBL’s revenue in 2023 saw a remarkable 21.8% increase, reaching a total of INR 16,042.58 crore, reflecting strong business performance and robust growth strategies.
Global Expansion
VBL is making significant investments internationally, with a USD 50 million investment in a Pepsi production facility in Kiswishi City, which is part of the first private Special Economic Zone (SEZ) in the Democratic Republic of the Congo (DRC). This move is aligned with VBL’s strategy to further its global footprint.
Stock Target & Performance
The average target for VBL’s stock is set at 690.60, representing an upside potential of 23.21% from its last traded price of 560.50. This indicates strong investor confidence in the company’s future prospects.
FAQs
What is Varun Beverages primarily known for?
Varun Beverages is primarily known as a major bottler and distributor of PepsiCo beverages.
What brands are made by Varun Beverages?
Varun Beverages produces popular beverages like Pepsi, Mountain Dew, Mirinda, 7UP, Tropicana juices, Gatorade, Aquafina and Sting.
Who is a founder of Varun Beverages?
Ravi Kant Jaipuria is a founder of Varun Beverages.
Indiaâs lithium-ion battery industry is seeing a sharp rise in production capacity, growing from about 18 gigawatt hours in 2023 to a projected 150 gigawatt hours by 2030. This growth is mainly because of the rising adoption of electric vehicles and the demand for better energy storage solutions.
Maxvolt Energy Industries Limited is playing a significant role in this transformation. Established in 2019, the company focuses on manufacturing high-quality lithium-ion battery solutions for electric vehicles, solar applications, energy storage systems, and more. Operating from a modern facility, the company offers innovative and eco-friendly battery solutions for different industries.
In this article, explore more about Maxvolt Energy, its founders, business model, funding, challenges, growth, and more.
Maxvolt Energy – Company Highlights
Company Name
Maxvolt Energy Industries Limited
Headquarters
Ghaziabad, Uttar Pradesh, India
Sector
Cleantech, Lithium Battery, Energy Storage
Founder
Bhuvneshwar Pal Singh, Vishal Gupta, Satendra Shukla
Founded
2019
Website
maxvoltenergy.com
Maxvolt Energy – About
Maxvolt Energy Industries Limited, established in 2019, is one of the leading manufacturers and suppliers of lithium battery packs for electric vehicles (EVs), solar applications, energy storage systems, and medical device batteries. With state-of-the-art manufacturing facilities and a dedicated team, Maxvolt ensures high reliability and efficiency in every lithium battery pack.
Maxvolt Energy – Industry
The global EV battery market is projected to reach a total addressable market (TAM) of USD 300 billion by 2035. Maxvolt Energy is strategically positioned to capitalise on this growing demand for sustainable energy solutions. The company is currently experiencing 5x revenue growth year-over-year. This strong growth is driven by a combination of factors, including innovation in lithium battery technology, an expanding dealer and distributor network, and a consistent focus on quality and reliability. Customer satisfaction and after-sales support also remain key priorities.
To sustain this momentum, Maxvolt Energy continues to invest in research and development, strengthen its supply chain, and explore new market opportunities.
In addition, the company is taking several steps to establish a robust global presence. These include forming strategic partnerships, expanding manufacturing capacity, and ensuring compliance with international standards. Maxvolt is also working on repurposing used batteries for various stationary applications and setting up a lithium battery recycling plant. Its goal is to build a comprehensive ecosystem that supports sustainability and long-term growth.
The company is actively searching for a suitable location in Gujarat and plans to finalise site selection by the end of the next financial year. Furthermore, Maxvolt Energyâs leadership is focused on enhancing its R&D facility and establishing a dedicated production line for energy storage system (ESS) batteries.
Maxvolt Energy – Founders and Team
Bhuvneshwar Pal Singh, Mukesh Gupta, Vishal Gupta, Satendra Shukla (left to right)
Maxvolt Energy Industries Limited was co-founded by Bhuvneshwar Pal Singh (MD & CFO), Vishal Gupta (Chairman & CTO), and Satendra Shukla (CBO & CEO) in 2019.
Vishal Gupta is a young technocrat with sharp analytical and forecasting skills and is adept at catering to Indiaâs burgeoning electric vehicle industry with cutting-edge battery solutions to satisfy current as well as future needs. Armed with a bachelorâs degree in Mechanical Engineering from a highly reputed institution in the country, Vishal is also accredited with an Advanced Programme in E-Vehicle Technology (Electric Vehicle) from IIT Delhi.
Satendra Shukla, the Chief Business Officer at Maxvolt Energy Industries Limited, brings a wealth of expertise, knowledge, and dedication to the organisation. With over 12 years of professional experience, this young business leader started his journey at Maxvolt to revolutionise the battery market with cutting-edge lithium technology. Besides being an MBA (Finance), Satendra is very adept at developing viable plans and strategies for this ground-breaking organisation in the energy sector. However, his key responsibility area is not restricted to financial planning and budgeting; he is equally impressive in other core areas of business, such as business analytics, forecasting, business development, quality assurance, and team management.
Bhuvneshwar Pal Singh is the Promoter, Managing Director, and CFO of the company. A B.Com. Graduating from Chhatrapati Shahu Ji Maharaj University, Kanpur (2008), he joined the company in 2020 and has 4+ years of experience in finance. He oversees finance, accounts, and administration, ensuring business execution, resource efficiency, and quality standards. As a strategic and results-driven leader, he provides guidance to the Board of Directors to develop effective policies and drive business success.
One of Maxvolt Energy’s founding forces, Mukesh Gupta, Marketing Head, with a prestigious MBA degree in Marketing Management and more than a decade of demonstrated experience, is successfully pursuing the organisation’s ambitious goals of developing world-class lithium architecture that transcends industry norms in empowering electric bikes, scooters, and solar energy.
Maxvolt Energy Industries Ltd. was founded in response to the growing need for clean energy and the surge in electric vehicle adoption. Co-founders Vishal Gupta and his team were deeply passionate about renewable energy and aimed to revolutionise the battery industry with advanced lithium-ion packs.
Extensive research was conducted into the challenges faced by electric vehicles and energy storage systems, such as slow charging and limited battery life, leading them to identify lithium-ion batteries as the ideal solution.
They analysed market trends and emerging technologies to validate their concept, setting clear goals and features with a focus on fast-charging, lightweight, and durable batteries. Prototypes were developed and tested a lot. The team also engaged with industry experts, investors, and early users to discuss their concept. The innovative approach and strong commitment to sustainability received positive feedback, encouraging them to move forward with their plans.
Maxvolt Energy – Mission and Vision
The companyâs mission is to provide the best quality products and best solutions for its markets that are globally compliant, technologically advanced, and intelligent for the demanding present and future in a way that creates value for its customers, vendors, employees, and shareholders.
Maxvolt Energyâs vision serves as its foremost inspiration, i.e., to develop a world-class lithium-based battery manufacturing facility that transcends industry norms, empowering electric bikes, scooters, and solar energy.
Maxvolt Energy – Products/Services
Maxvolt Energy Products
Maxvolt Energy provides energy storage solutions to the electric vehicle industry, renewable energy sector, consumer electronics, and lighting solutions, with a special focus on recycling lithium-based batteries to reduce environmental impact and create a sustainable path for various industries in the future.
Innovation has driven technology advancements at Maxvolt. Its Active Balancer Technology improves battery capacity and fire resistance, along with enhanced operational heat management, active battery control, and battery endurance solutions designed to significantly increase battery life. Maxvoltâs lithium batteries also feature over-temperature alarms and a sleep switch for added safety when the battery is not in use.
These innovations are supported by onsite assistance across 19,000+ pin codes and a battery take-back programme, reflecting the companyâs strong commitment to environmental responsibility. Through ongoing innovation, Maxvolt focuses on improving performance, promoting sustainability, and ensuring customer satisfaction.
Cross-functional collaboration within the company supports continuous process improvement, while advanced systems such as ERP software offer an integrated approach to operations, from inventory tracking to waste reduction.
Maxvolt Energy – Business Model
Maxvolt Energy Industries Limited is a rapidly growing Indian company specialising in lithium-ion battery solutions, catering to electric vehicles (EVs), solar applications, and energy storage systems.
The company operates through a dual business model, serving both B2B and B2C markets. In the B2B space, Maxvolt supplies lithium battery packs to original equipment manufacturers (OEMs) such as Versatile E-Scooters, Mantra E Bikes, Odysse, Ormax, and Tunwal E-Vehicles.
On the B2C front, it has reached over 1.5 lakh customers with products like e-scooters, e-rickshaws, and e-cycle batteries. The company differentiates itself through customer-centric initiatives like a 3-year replacement warranty and a 100% buyback program for used batteries.
Maxvolt Energy – Challenges Faced
Maxvolt Energyâs initial journey came with several significant challenges. These included entering a nascent industry within the country, facing technological limitations, dealing with raw material scarcity due to complete import reliance on China, and a shortage of skilled labour. Despite these obstacles, the company successfully prototyped an e-cycle battery, followed by batteries for e-scooters, e-rickshaws, and inverters, with minor adjustments leading to fully functional prototypes.
At present, the key challenges involve sourcing raw materials, as lithium battery cells continue to be imported from China. There is also a need for better charging infrastructure and greater public awareness about the applications and benefits of electric vehicles.
Maxvolt Energy has successfully raised $1.5 millionin funding from multiple angel investors, including Hitesh M Patel, Vivek Kumar, Vikas Kumar, and more.
This significant capital infusion will support Maxvolt Energy’s ambitious plans to advance sustainable energy solutions and strengthen its market position by introducing fast-charging lithium-ion batteries soon.
With its commitment to innovation and quality, Maxvolt aims to develop world-class lithium battery architectures for various sectors, including electric bikes, scooters, and solar energy systems, while adhering to global compliance and technological advancements.
Maxvolt Energy – Financials
Maxvolt Energy Industries Limited has demonstrated remarkable financial performance, with FY 2023-24 revenue soaring to INR 48.37 crore, reflecting a 253% growth from the previous year’s INR 13.68 crore. The Profit After Tax (PAT) stood at INR 5.21 crore, with Earnings Per Share (EPS) jumping from INR 1.33 to INR 7.07.
Maxvolt Energy – Recognition and Achievements
Maxvolt Energy Industries Limited marked a significant milestone as it officially debuted on the National Stock Exchange (NSE) Emerge platform. The listing follows the successful closure of its Initial Public Offering (IPO) on February 14, 2025. It saw an overwhelming subscription of 3.3 times, reflecting strong investor confidence in the companyâs growth potential and leadership in clean energy solutions.
Maxvolt Energy’s IPO, which opened from February 12 to 14, 2025, witnessed robust investor demand, with Qualified Institutional Buyers (QIBs) getting oversubscribed 6.76 times, while Non-Institutional Investors (NII/HNIs) and Retail Investors subscribed 1.81 times and 1.97 times, respectively. A total of over 6.59 million shares were applied for against the 1.99 million shares offered. The IPO was priced between INR 171 and INR 180 per share, with a bid lot of 800 shares.
Maxvolt Energy – Competitors
In terms of market competition, Maxvolt faces strong rivals in the Indian battery manufacturing space, including established names like Exide Industries, Amara Raja Batteries, Okaya Power Group, and Loom Solarâeach offering a wide range of energy storage solutions for EVs and renewable sectors.
Maxvolt Energy – Future Plans
Maxvolt has charted out an ambitious expansion strategy. A key part of its future plans is the establishment of a dedicated lithium battery recycling plant. While recycling currently takes place at its Ghaziabad facility, the company is actively scouting for a site in Gujarat, with plans to finalise the location by the end of the next financial year.
Additionally, Maxvolt is preparing to launch a new line of fast-charging lithium-ion batteries, with prototypes aiming to cut down charging time to 1â2 hours. With a 106% year-on-year revenue growth and expanded production capacity at its Ghaziabad plant, Maxvolt is all set to play a significant role in Indiaâs clean energy transition.
FAQs
What is Maxvolt Energy?
Maxvolt Energy Industries Limited is a rapidly growing Indian company specialising in lithium-ion battery solutions, catering to electric vehicles (EVs), solar applications, and energy storage systems.
Is Maxvolt Energy a listed company?
Maxvolt Energy Industries Limited marked a significant milestone as it officially debuted on the National Stock Exchange (NSE) Emerge platform. The listing followed its successful IPO closure on February 14, 2025.
When was Maxvolt Energy founded?
Maxvolt Energy Industries Limited was established in the year 2019.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations.
Vanguard, one of the worldâs largest investment management firms, has built a reputation for providing low-cost, investor-focused financial solutions. With a mission to stand for value, transparency and long-term growth, the company has consistently prioritized the interests of its clients. Its broad range of mutual funds, ETFs and advisory services cater to both individual and institutional investors, reinforcing its commitment to making investing accessible and affordable.
The firmâs expansion into global markets, along with its deep focus on economic trends, highlights its proactive approach to navigating an increasingly complex financial landscape. Whether through cutting-edge ETFs, a growing presence in emerging markets, or its forward-looking economic outlook, Vanguard remains dedicated to delivering value to its investors.
In this StartupTalky article, we will explore Vanguardâs journey, including its founder, business model, investments, growth, and more.
Vanguard is a well-known investment management firm headquartered in Malvern, Pennsylvania. Vanguard operates across the Americas, Europe and the Asia-Pacific region, with branch offices and a strong online presence.
They help people and institutions grow their money through a wide range of financial products and services.
As one of the “Big Three” index fund managers (alongside BlackRock and State Street), Vanguard specializes in low-cost, long-term investment options.
Vanguard – Industry
Vanguard Group is a global leader in investment management, renowned for its low-cost, long-term investment strategies. As of January 2025, Vanguard manages approximately $10.4 trillion in assets, making it the second-largest asset management firm globally after BlackRock. The company offers a diverse range of investment products, including mutual funds, exchange-traded funds (ETFs), and retirement services, catering to individual investors, institutions, and financial professionals. Vanguard’s unique investor-owned structure allows it to prioritize client interests by minimizing costs and enhancing transparency.
Vanguard was founded in 1975 by John C. Bogle, an investor and business magnate known for revolutionizing the investment world with the concept of low-cost index funds. Bogle championed long-term investing, reducing fees and avoiding speculation. His philosophy was simple: an ideal investment strategy involved buying a low-cost index fund covering the entire U.S. market, reinvesting dividends and holding it for life.
Born in Montclair, New Jersey, in 1929, Bogle’s early life was shaped by the hardships of the Great Depression, which led his family to financial struggles and his parents’ divorce. Despite these challenges, he excelled in mathematics and earned a scholarship to Blair Academy, later graduating magna cum laude from Princeton University in 1951. His senior thesis, “The Economic Role of the Investment Company,” caught the attention of Walter L. Morgan, founder of the Wellington Fund, who offered him a job.
Bogle went on to challenge traditional investment norms, prioritizing investors’ interests over profits. His legacy continues to shape the investment world today.
Current Leadership – Salim Ramji (CEO)
As of July 8, 2024, Salim Ramji serves as the CEO of Vanguard, making history as the first external hire to lead the firm. He also sits on Vanguardâs board of directors.
Background & Experience
Former senior executive at BlackRock and McKinsey & Company
Holds a bachelorâs degree in economics and politics from the University of Toronto
Earned a Masterâs in Law from Cambridge University
CFA charterholder with deep expertise in asset management
Beyond finance, Ramji is committed to social impact, serving as a trustee at Graham Windham, a New York-based child-welfare organization and is part of the International Leadership Council at the University of Toronto.
Vanguard – Startup Story
The Birth of Vanguard – John C. Bogleâs Vision
John C. Bogle began his investment career in 1951 at Wellington Management Company, steadily climbing the ranks to become president. However, a disagreement following a corporate merger in 1974 led him to part ways with the firm. Rather than walking away from the investment world, Bogle seized the opportunity to create something revolutionaryâhe founded The Vanguard Group.
The First Index Fund – A Bold Move
In 1976, Bogle launched the First Index Investment Trust, which later became the Vanguard 500 Index Fund (VFIAX). At the time, the concept of index investingâtracking the overall market rather than trying to beat itâwas seen as unconventional. Growth was slow at first, but by the 1980s, other firms began adopting his model, proving Bogleâs vision was ahead of its time.
Vanguard – Mission and Vision
Mission
Vanguard Group is dedicated to providing a broad range of investment products and services that empower clients to build long-term wealth. By prioritizing investors’ needs, the company ensures fair treatment, transparency and cost-effective solutions. With a focus on high-quality financial advice, retirement planning and accessible investment options, Vanguard strives to give clients the best possible chance for success. Keeping costs low remains a core principle, allowing investors to retain more of their returns while benefiting from strategic, long-term investment opportunities.
Vision
Vanguard envisions itself as a leader in the asset management industry, setting the standard for innovation, reliability and client-focused investment solutions. The company is committed to delivering outstanding financial products and services that drive superior investment results. By continuously enhancing its offerings and maintaining exceptional client service, Vanguard aims to be the trusted choice for investors seeking sustainable growth and long-term financial success.
Vanguard – Name and Logo
John C. Bogle, the founder of Vanguard, named the company after the British naval ship HMS Vanguard, which served as Admiral Horatio Nelson’s flagship during the Battle of the Nile in 1798. Bogle chose this name to symbolize leadership, resilience, and a pioneering spiritâvalues he aimed to instill in his investment firm.
In 2020, Vanguard unveiled a new logo featuring a minimalist design that emphasizes the brandâs solidity and professionalism. The updated logo removed the ship imagery previously associated with the brand, signaling Vanguardâs move toward modernity and a more understated visual language.
Vanguard Logo
Vanguard Group – Business Model
Innovation and Cost Efficiency
Vanguard is committed to keeping investment costs low, allowing clients to retain more of their returns. Through economies of scale, the firm consistently reduces expense ratios across its funds, offering both Investor Shares and Admiral Shares, the latter featuring lower costs for higher investment thresholds. Vanguard also leverages cutting-edge financial models, such as the Vanguard Capital Markets ModelÂŽ (VCMM) and the Vanguard Asset Allocation Model (VAAM), to enhance investment decision-making. These sophisticated tools analyze global financial trends, forecast long-term asset returns and optimize portfolio allocations, ensuring that investors benefit from data-driven, strategic asset management.
Vanguard Group – Revenue Model
Expense Ratios and Revenue Model
Vanguard generates revenue primarily through the expense ratios of its mutual funds and ETFs. These fees, paid by investors, are significantly lower compared to industry standards, reinforcing Vanguard’s commitment to cost efficiency. Despite the low expense ratios, the sheer volume of assets under management makes them a substantial income source for the firm. Vanguardâs focus remains on long-term wealth-building rather than high-fee investing, aligning with its mission to put investors first.
Platform and Investment Approach
Vanguardâs digital platforms, including its website and mobile app, cater best to buy-and-hold investors seeking low-cost, diversified portfolios. While its user interface may not be as modern or feature-rich as some competitors, it effectively supports passive investment strategies. However, for traders looking for advanced tools or active investing features, Vanguard intentionally does not compete in that space, instead reinforcing its core philosophy of long-term, low-cost investing.
Vanguard Group – Challenges Faced
Customer Service and Technological Challenges
One of the most pressing challenges for Vanguard under its new CEO, Salim Ramji, is addressing poor customer service and operational inefficiencies. Clients have reported trading errors, incorrect balances and difficulties in reaching customer support, leading to Vanguard being ranked the lowest in customer satisfaction among eight major brokerages. Despite these shortcomings, investor inflows remain strong, highlighting the trust investors continue to place in Vanguardâs low-cost model. However, improving service quality will be crucial for maintaining long-term customer loyalty.
Technology Struggles and Leadership Gaps
Vanguard has also faced persistent technology dysfunction, which is surprising given that former CEO Tim Buckley previously led the IT and web services divisions. Under his leadership, the firm struggled to modernize its digital experience, leaving its platforms outdated compared to competitors. As a firm that revolutionized investing by lowering costs and democratizing access, Vanguard now faces the challenge of ensuring that its technology and service infrastructure align with the needs of todayâs investors. Salim Ramjiâs leadership will be tested in his ability to enhance digital platforms, optimize client interactions and uphold Vanguardâs legacy of investor-first innovation.
Vanguard Group – Funding and Investors
Vanguard operates as a client-owned firm, meaning it is owned by its investors, allowing it to reinvest profits to lower costs rather than relying on external funding or private investors.
Date of funding
Funding Amount
Round Name
Investors
Jan 10, 2022
Undisclosed
Series B
Raymond James
Mar 24, 2020
Undisclosed
Series B
Perseus Mining
Feb 15, 2018
$31.7M
Series B
â
Vanguard Group – Investments
Vanguard Group investments as sourced from Tracxn:
Investment Date
Company Name
Sector
Founded
Location
Mar 11, 2025
Norm Ai
Enterprise Applications
2003
New York
Jan 9, 2025
Talen Energy
Energy
2015
USA
Jul 28, 2022
Powerhandz
Sports Tech
2014
USA
Jul 12, 2023
Riot Platforms
FinTech
2000
Colorado
Jul 12, 2023
Marathon Digital Holdings
FinTech
1997
Florida
Nov 06, 2024
Writer
Enterprise Applications
2012
California
Aug 15, 2024
Vanilla
FinTech
2019
California
Apr 17, 2015
Flipkart
Retail
2007
Bengaluru
Nov 01, 2021
Altruist
FinTech
2018
California
–
MicroStrategy
Enterprise Applications
1989
Virginia
Feb 18, 2024
Carvana
Consumer
2012
Arizona
Dec 11, 2015
Ola
Consumer
2010
Bengaluru
–
Oracle
Enterprise Infrastructure
1977
Texas
–
Dropbox
Enterprise Applications
2007
California
–
Box
Enterprise Applications
2005
California
–
Longboard Pharmaceutical
Life Sciences
2020
California
Feb 04, 2019
Allakos
Life Sciences
2012
California
–
STAG Industrial
Financial Services
2010
Massachusetts
–
MKS Instruments
–
1961
Massachusetts
–
Overstock
Retail
1999
Utah
–
Equifax
FinTech
1899
Georgia
Jul 24, 2017
Sixty
Media & Entertainment
2002
Norway
Oct 14, 2016
AGCO
Food and Agriculture
1990
Georgia
–
Cloudera
Enterprise Infrastructure
2008
California
Vanguard Group – Financials
Financials
FY24
FY23
Total Investment Income
$20.36 billion
$12.13 billion
Total Expenses
$162.12 million
$118.60 million
Net Increase in Net Assets
$18.30 billion
$10.45 billion
Vanguard Financials
Vanguard Group – Online and Social Media Presence
Vanguardâs Social Media Presence and Themes
Facebook â A platform for interactive discussions on investing, where users can engage with Vanguard and fellow investors to share insights, tips and experiences.Theme: Community engagement, financial education and investor insights.
Instagram â Investment topics from A to Z, making financial concepts accessible and easy to understand.Theme: Educational content, financial literacy and simplified investment concepts.
YouTube â Vanguardâs products and services, along with detailed discussions on various investment topics.Theme: Informative videos, tutorials and product deep dives.
X (formerly Twitter) â A fast-paced news source delivering the latest updates on investing, personal finance and market trends for those on the go.Theme: Timely updates, quick insights and market trends.
LinkedIn â Expert perspectives on investment strategies, economic trends and industry insights.Theme: Thought leadership, economic analysis and professional networking.
Vanguard Group – Advertisements and Social Media Campaigns
Vanguard â “V for Value” Campaign
Vanguard â “V for Value” Campaign
Launched in March 2020 in the UK, Vanguardâs “V for Value” campaign, created by AML Group, highlights the companyâs commitment to low-cost, investor-first financial solutions. The campaign features a 30-second TV spot showcasing people making the “V for Value” sign, emphasizing Vanguardâs mission to provide real value to investors.
Supporting its people-first approach, the campaign includes TV, print, digital and outdoor ads, with media handled by The7Stars and film direction by Chris Gaffey. Vanguard’s Personal Investor platform has gained significant traction, recognized by Which? as a top-rated investment platform in the UK. This campaign reinforces Vanguardâs ethos of fairness, transparency and value in investment management.
Vanguard Group – Awards and Achievements
Morningstar Ratings
Several Vanguard funds have earned 5-star ratings from Morningstar, including:
Vanguard Wellesley Income Admiral
Vanguard Tax-Managed Balanced Fund Admiral
Vanguard High-Yield Tax-Exempt Fund
NerdWallet Awards
Vanguard Digital Advisor was awarded “Best Robo-Advisor for Low-Cost Investing” for 2024 among 14 robo-advisors, based on management fees (50%), expense ratios (40%) and account fees (10%).
Vanguard has received this award consistently since 2021, with evaluations based on yearly data.
ETF.com Awards
Vanguardâs Short-Term Tax-Exempt Bond ETF (VTES) won Best New U.S. Fixed Income ETF at the 10th annual ETF.com Awards in April 2024.
Forbes Advisor
7 Best 401(k) Plans for August and September 2024 by Forbes Advisor.
Vanguard Group – Competitors
Vanguard competes with major investment firms in asset management, ETFs and financial advisory services. Key competitors include:
Vanguard is set to introduce the Vanguard Short Duration Bond ETF (VSDB), an actively managed fixed-income ETF to be overseen by the Vanguard Fixed Income Group. In addition, the firm is expanding its global footprint with a new technology development office in Hyderabad, India, reinforcing its long-term commitment to innovation and operational efficiency.
The U.S. economic outlook for 2025 remains positive, with GDP growth projected to stay just above 2%. However, core inflation is expected to decline only gradually toward the Federal Reserveâs 2% target, making significant interest rate cuts unlikely. Vanguard forecasts that the Fedâs policy rate will remain between 3.75%â4%, reflecting a cautious approach to monetary policy. Economic momentum is expected to be driven primarily by supply-side factors, including increased productivity and an ample labor supply.
In emerging markets, monetary policy easing is anticipated to expand, though interest rates may remain in restrictive territory. The strength of the U.S. dollar poses a risk of inflationary pressure in these economies, potentially affecting trade and investment flows. Trade developments will likely remain a focal point throughout the year.
What is Vanguard primarily known for in the investment world?
Vanguard is primarily known for its pioneering role in popularizing low-cost investing through its index funds and Exchange Traded Funds (ETFs).
How did Vanguard revolutionize the concept of low-cost investing?
Vanguard’s unique mutual ownership structure, where the fund shareholders own the company, allows it to operate at cost, passing savings to investors through lower expense ratios.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations.
Receiving and delivering goods is an indispensable part of every industry. Collecting the resources, segregating and allocating the specific deliverer are important measures undertaken to meet the standards of customers. It keeps the stream of the e-commerce industry alive.
Xpressbees is Indiaâs leading logistics service provider and it has a great network of supply chain management across the country. The company was started in 2015 and now, it has more than 10,001 employees.
Here are the most recent developments about Xpressbees, including its funding and investors, company and revenue strategy, funding rounds, name and slogan, growth and investors, competitors, and more.
Xpressbees was started in 2015 by Amitava Saha and Supam Maheshwari. With its exclusive transportation and delivery framework, the company offers a variety of logistics services locally and globally. It names the services as E-commerce Logistics, Express Cargo, Cross-border Logistics, and Fulfillment Services. With modest, cutting-edge technology and Reverse Logistics, Xpressbees fulfills the customersâ needs with timely delivery. Xpressbees is associated with brands like Flipkart, ICICI Bank, TATA Cliq, Schneider Electric, and many others.
Xpressbees â Industry
The logistics and courier delivery services industry is an ever-expanding sector across the globe. Statista referred logistics industry as one of the “backbones of international trade worth over 5.7 trillion euros.” The global market size of the logistics industry is over $8.5 trillion.
The Indian logistics market is not alien to growth either. It was last valued at around $250 billion in 2021, which has the potential to grow by $380 billion by 2025. This growth that the courier and logistics industry expects is because of the emergence of new-age courier and delivery companies and startups that are fuelled by cutting-edge technology.
Xpressbees and Other Courier and Logistics Companies Market Share in India
Xpressbees â Founders and Team
Supam Maheshwari and Amitava Saha are the Founders of Xpressbees.
Supam Maheshwari
Supam founded his first venture, FirstCry.com in 2010. He did his BTech in Delhi College of Engineering and he is a graduate of IIM Ahmedabad. Supam was the co-founder and CEO of Brainvisa Technologies from 2000â2009, which he started with Amitava Saha and eventually sold it. Maheshwari is currently known as the Co-founder of Xpressbees.
Amitava Saha is also the Co-founder of FirstCry.com along with being the Co-founder and CEO at Xpressbees. He was a BTech student at IIT Varanasi and then obtained a PGDM degree from IIM Lucknow. Before founding Xpressbees with Supam, Amitava has served as a Senior Officer at Tata Steel; a Sr. Business Development Executive at NIIT Technologies, and a Business Development Manager at Aricent. He then started with Brainvisa Technologies, where he served as a Director, and a VP, who was eventually promoted to the position of Senior VP. Amitava Saha then decided to found FirstCry, where he served as the Co-founder and COO, after which he founded Xpressbees. He has more than 17 years of experience in sales and operations.
Amitava Saha – Co-founder and CEO of Xpressbees
The company currently works with more than 10,001 employees.
Xpressbees â Vision and Mission
The vision and mission of Xpressbees are to evolve as the best logistics solutions provider for all import and export services.
Xpressbees â Name, Tagline, and Logo
The Xpressbees logo has the words Xpressbees delivering happiness on it. The name âXpressbeesâ depicts the rapidity of the company’s distribution and conveyance. âDelivering Happinessâ is the Tagline of Xpressbees.
Xpressbees logo
Xpressbees â Business Model and Revenue Model
The Xpressbees business model operates on B2B, B2C, Cross Border & 3PL Logistic Service Provider models. Their B2B business model involves providing services to other companies and online markets. B2C E-Commerce model includes selling goods to the end customers. The cross-border strategy is focused on offering customers a straightforward, seamless door-to-door service, regardless of the amount of luggage that needs to be transported. 3PL Logistic business model involves of commitment of outsourcing its distribution services to third-party logistics businesses. The major source of revenue for Xpressbees also lies in the fulfillment services which comprises warehousing and transportation.
The Xpressbees funding rounds have helped the company raise $622.4 millionover 11 rounds of funding. The last round that Xpressbees received on November 6, 2023, was worth $80 million , which came from Teacher’s Venture Growth.
With expenses growing faster than revenue, XpressBees’ net loss widened by 11%, rising to INR 200 crore in FY24 from INR 180 crore in FY23. However, the Pune-based firm achieved EBITDA positivity, reporting an EBITDA of INR 5 crore for the same period. The companyâs ROCE stood at -8.32%, while its EBITDA margin came in at a modest 0.17%. On a per-unit basis, XpressBees spent INR 1.11 to earn every rupee in revenue during FY24.
ExpressBees recorded current assets worth INR 1867 crore in FY24 including INR 1331 crore in cash and bank balances.
On July 26, 2021, Xpressbees declared that, in an effort to bolster its position in the logistics industry, it had formed an exclusive strategic business partnership with SpiceXpress.
ONDC
The Open Network for Digital Commerce (ONDC) and e-commerce logistics company Xpressbees have partnered up on November 23, 2023, to provide broad delivery services throughout 20,000 pin codes in India.
Xpressbees – Product and Service
Same Day, Next Day Deliveries for D2C brands
On June 21, 2022, Xpressbees introduced same-day delivery (SDD) and next-day delivery (NDD) platforms aimed at traditional brands and direct-to-consumer (D2C) businesses.
XPRESSATHON
Declare that in December 2021, Xpressbees will present “Xpressathon,” the first-ever pan-Indian coding innovation contest. Developers, analysts, and the programming community are invited to take part in Xpressathon, a virtual challenge, and create solutions that could potentially address some of the real-time logistic
Xpressbees â Acquisitions
Xpressbees, has recently acquired Trackon, a courier-based business that was founded in January 2002. Over 5,000 pin codes have been served, and more than 2 lakh consignments have been handled since it began with two sites in Delhi and Mumbai. It has a presence all across the nation.
Xpressbees withstands its position with an expansive network and matchless logistics services.
Xpressbees â Future Plans
Xpressbees’ future plans include expanding their delivery network, leveraging technology for efficiency, and exploring new business avenues like B2B deliveries and omnichannel solutions. They aim to offer a premium service with an emphasis on technology and to continue expanding their presence in smaller cities and towns. Additionally, they are looking to acquire companies like Trackon to further their reach in the SME courier space.
FAQs
Who is the owner of Xpressbees?
Xpressbees is owned by Busybees Logistics Solutions, which was founded by Amitava Saha and Supam Maheshwari.
Who are the Xpressbees competitors?
Some Xpressbees competitors are Ecom Express, Delhivery, FSC, Ekart Logistics and DTDC.
How does the Xpressbees Revenue model work?
The major source of revenue for Xpressbees also lies in the fulfillment services which comprises warehousing and transportation.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations.
Offering a unique twist on beloved games like Ludo and Snakes & Ladders, Zupee delivers easy-to-learn, quick gameplay while ensuring a delightful user experience. With a focus on responsible gaming, safe transactions, and cutting-edge partnerships, Zupee has grown exponentially, becoming a leading name in the Indian gaming market.
In this article, let’s explore the world of Zupeeâits founders, History, Startup story, business and revenue model, funding, growth, and all the information about the company.
Zupee is a rapidly expanding online gaming platform from India. It focuses on skill-based games that add fun to your daily routine.
Whether you’re in the mood for a free game or looking to try your luck in a pay-to-play option, Zupee has something for everyone. Their standout offering is Ludo, a favorite among users. As one of the leading players in India’s casual and board games space, Zupee combines entertainment with challenge, making each gaming experience engaging and enjoyable.
Plus, all their games are certified by the All India Gaming Federation (AIGF), ensuring they meet the criteria for skill-based play.
Zupee – Industry
The gaming industry in India is on an upward trajectory, emerging as a powerhouse in the global market. Here’s a closer look at what makes this sector so exhilarating:
Leading Mobile Gaming Market: India ranks as the worldâs largest mobile gaming market, showcasing impressive app download statistics that reflect the growing interest among gamers.
Booming Revenues: In 2022, transaction-based game revenues surged by 21% compared to the previous year. Projections suggest a continued growth rate of 20% by FY25, with the market poised to reach INR 231 billion.
Fantasy Sports Leader: With a user base of 180 million, India boasts the largest fantasy sports market globally. This segment is expected to grow at a compound annual growth rate (CAGR) of 33%, aiming for INR 25,300 crore by FY27.
Investment Surge: Over the last five years, the Indian gaming industry attracted a remarkable $2.8 billion from domestic and international investors. Notably, funding escalated by 380% since 2019, with a 23% increase from 2020 alone.
Government Initiatives to Boost Growth
The Indian government is actively investing in the future of gaming:
Establishing a National Animation, Visual Effects, Gaming and Comic (AVGC) Centre of Excellence in partnership with IIT Bombay.
Karnataka and Telangana are implementing dedicated AVGC policies at the state level.
An AVGC Task Force will be formed to unlock the sectorâs full potential.
Rising Unicorns: India has already produced three gaming unicorns: Game 24X7, Dream11, and Mobile Premier League, reflecting the industry’s growing economic impact.
Despite the recent implementation of a 28% goods and services tax (GST) on gaming, the industry remains optimistic. Current estimates value the sector at approximately $3.1 billion, with projections indicating it could reach $8.92 billion within the next five years.
Real Money Gaming (RMG) Dominance: The RMG sector is a major revenue generator, accounting for 83-84% of total revenue. With around 100 million online gamers, including 90 million who are willing to pay, this segment continues to thrive.
However, the introduction of a blanket tax without distinguishing between skill and chance games has added pressure on the industry, as skill gaming platforms previously operated under an 18% GST on platform fees, known as Gross Gaming Revenue (GGR).
Zupee – Founders and Team
Dilsher Singh Malhi
Dilsher Singh Malhi – Founder and CEO, Zupee
As the founder and CEO of Zupee, Dilsher Singh Malhi has a remarkable journey that began with his graduation from IIT Kanpur in 2017, where he earned a B.Tech in Chemical Engineering. During his time at IIT, he led the Simutech Club, offering students a platform to explore projects in chemical engineering. Dilsher also discovered his true passionâpsychology. He realized that understanding human behavior is incredibly complex, requiring knowledge from multiple fields of science to gain a deeper insight into the human mind. This complexity and the intricate nature of human behavior have fascinated him ever since. If that’s not enough, Dilsherâs academic pursuits also took him to Switzerland, where he worked as a Research Associate at EPFL.
When heâs not innovating in the gaming world, Dilsher enjoys gaming, delving into books, and exploring human behavior psychology. An avid NBA fan, he dreams of catching a game at Madison Square Garden soon!
Siddhant Saurabh
Siddhant Saurabh – Co-founder and CTO, Zupee
Siddhant Saurabh, the co-founder and CTO of Zupee, completed his B.Tech in Computer Science and Engineering from IIT Kanpur in 2016.
A true tech guru, Siddhant is a music enthusiast and can often be found at work sporting a pair of headphones, immersed in his favorite tunes. His passion for technology and music blends perfectly to fuel the innovative spirit at Zupee!
Zupee – Startup Story
Launched in 2018 by the dynamic duo Dilsher Singh and Siddhant Saurabh, Zupee is a cutting-edge gaming platform that aims to transform the real money gaming landscape. Zupee initially gained significant success as a quizzing game. It was highly engaging and people loved it, leading to impressive top-line growth. While they were still figuring out the best ways to monetize and scale that model, they made a bold decision to pivot by shifting focus to more casual, culturally familiar games like Ludo, which marked a major turning point. This move laid the foundation for the platform’s evolution.
Driven by the iconic Bollywood adage, âZindagi lambi nahi, badi honi chahiye,â Dilsher launched Zupee with a mission to create a product that brings joy and enhances the quality of life. On the other hand, Siddhant is the mastermind behind the sleek, user-friendly app that has captivated a growing audience. He designed a tech stack architecture that is both elegant and robust, ensuring seamless service for Zupeeâs expanding user base.
Today, Zupee offers a variety of games, many of which have performed exceptionally well, establishing it as a versatile platform in the gaming space.
At Zupee, their mission is to provide easy-to-learn and entertaining games that bring joy to players of all ages. They strive to create a unique gaming experience by adding innovative twists to beloved classics like Ludo and Snakes & Ladders, ensuring that fun and entertainment are accessible to everyone. Their goal is to cultivate a welcoming environment where gaming transcends barriers, allowing all users to connect, play, and enjoy.
Vision of Zupee
The vision at Zupee is to be the leading platform for casual gaming, where familiar games are reimagined for a modern audience. They aspire to be a one-stop destination for fun and entertainment through our super app, providing a seamless experience that engages and delights users. By continuously enhancing our offerings and staying true to their brand values, they aim to redefine the gaming landscape and foster a vibrant community of gamers.
Zupee – Name, Tagline and Logo
Zupee Old Logo and Zupee New Logo
Zupee introduced its new brand identity, marking a significant step in its journey to deliver a positive, unique, and engaging experience for all its users with a refreshed logo and a bold, energetic color palette that embodies the vibrant gaming spirit.
Zupee’s new logo perfectly captures the essence of joyful moments, featuring a vibrant spark integrated into a bold “Z” letterform. This playful design exudes energy and enthusiasm, reflecting the brand’s commitment to fun and engaging experiences. The accompanying logotype is dynamic and approachable, showcasing friendly quirks that echo the lively spark in the symbol. Together, these elements create a logo that is bright, delightful, and distinctly representative of Zupee.
Zupee – Business Model
Hereâs a closer look at the key components of Zupee’s business model:
Skill-Based Gaming: Zupee revolutionizes classic board games by introducing skill elements. As the first online gaming platform to do so, Zupee enhances the traditional Ludo experience with strategic elements from the get-go, making gameplay more engaging and competitive.
Responsible Gaming: Player safety is a top priority at Zupee. To promote responsible gaming, all games are designed to be short, typically lasting between 8 to 10 minutes. This encourages players to take regular breaks, fostering a healthier gaming environment.
Strategic Partnerships: Zupee has formed partnerships with major players in the industry, including Reliance Jio Platforms, to distribute its content to Jio phone users, expanding its reach and accessibility.
Safe Money Transactions: Zupee ensures secure financial transactions for its players. With partnerships in place, users can conveniently add funds to their game wallet using various methods, including UPI, bank accounts, e-wallets, and debit/credit cards, guaranteeing a smooth and secure gaming experience.
With this robust business model, Zupee not only enhances the online gaming landscape but also prioritizes player engagement and safety, ensuring an enjoyable experience for all users.
Zupee – Revenue Model
Zupeeâs Super App
Zupee has erased the hassle of downloading individual games. With their new super app, a player can now access all their favorite gamesâand any exciting new launchesâall in one place.
The super app is designed to give you seamless access to a delightful gaming experience, reinforcing our commitment to keeping fun and entertainment at your fingertips.
Popular Games on Zupee
Popular Games on Zupee
With just one app available on both Android and iOS, a player can dive into a variety of thrilling games. Here are six popular titles they can enjoy through Zupeeâs super app:
Ludo Supreme: A time-based game featuring dice (iOS & Android)
Ludo Ninja: A limited move-based game without dice (Android)
Ludo Turbo: A limited move-based game with dice (Android)
Snakes and Ladders Plus: A unique multi-token format for a limited move-based game (Android)
Trump Card Mania: A round-based game with an exciting IPL twist (Android)
Zupee games can be played for free or with an entry fee, allowing an individual to win up to INR 10 lakh! Plus, they can easily withdraw their winnings via net banking or UPI, making their gaming experience smooth and rewarding.
Zupee – Challenges Faced
Zupee, while thriving in the online gaming space, has encountered several challenges that impact user experience and growth.
Fraud Detection: Zupee faced stagnant organic traffic growth, making it challenging to pinpoint the sources of their user engagement. The team noticed that multiple ad networks were distorting organic traffic numbers through click flooding and spamming, leading to confusion about the true origins of their traffic. Many ad networks exhibited rejected install rates as high as 30%. To combat this, Zupee collaborated with Adjust to detect and eliminate fraudulent activities in real time, ensuring that their datasets remained clean. They began optimizing campaigns at a sub-publisher level, which enabled them to identify the most effective channels for their marketing spend. As a result, Zupee improved and scaled user acquisition by 25% with Adjust’s attribution capabilities.
Login Issues: Users have also encountered login challenges, such as delays in receiving One-Time Passwords (OTPs), entering incorrect OTPs, server downtime, or using outdated app versions. Adding a new game to the platform adds a layer of complexity to this process. Integrating a new game feels similar to plugging a USB device into a computer â itâs designed to be a plug-and-play experience. The process involves developing the game, which includes creating a game sub-APK and backend services.
Cost Control: As Zupee expanded its reach, operational costs began to rise sharply. To manage these costs, the company turned to Liftoff’s Demand-Side Platform (DSP) to run programmatic campaigns for one of its games. This strategy resulted in improved installation rates while optimizing advertising expenditures.
Network Issues: Users of Zupee have reported experiencing various network-related problems, including slow loading times, connection errors, frequent disconnections, and other network-related disruptions. These issues can detract from the overall gaming experience, making it essential for Zupee to continually enhance its infrastructure.
Zupee – Funding and Investors
Zupee has raised a total of $121 million through 5 funding rounds, with the most recent round completed on January 5, 2022. The funding details of Zupee are as below:
Date of Funding
Funding Amount
Round Name
Investors
August 5, 2022
$72 million
Series B
Nepean Capital, AJ Capital Partners
August 17, 2021
$31 million
Series B
WestCap, Tomales Bay Capital
January 11, 2021
$10 million
Series A
WestCap, Z47
March 10, 2020
$8 million
Series A
Z47, Alpha Wave Global
April 10, 2019
$1 million
Seed Funding
Smile
Zupee – Financials
Zupee turned profitable in FY24, marking its first full year of profitability since inception in 2018. It posted a profit after tax (PAT) of INR 146 Cr in FY24 as against a loss of INR 36 Cr in the previous fiscal year, as revenue zoomed. Its top line surged 36.5% to INR 1,123 Cr from INR 823 Cr in FY23.
It is pertinent to mention that the GST Council imposed a 28% GST on the full face value of bets, effective from October 1, 2023. As such, the FY24 financials only reflect the impact of this change for six months. The full-year impact of the new GST framework will be seen in FY25 numbers.
Zupeeâs total expenses grew 11.7% to INR 1,019 Cr during the year under review from INR 911.9 Cr in FY23. The gaming platformâs employee benefit expenses rose to INR 107 Cr from INR 96 Cr in FY23. It is pertinent to mention that MPL also achieved breakeven in FY24, reporting an adjusted EBITDA of $0.2 Mn (around INR 1.7 Cr). Its revenue from operations grew 22.2% to INR 1,068 Cr in FY24 against INR 873.7 Cr in FY23.
Zupee – Advertisements and Social Media Campaigns
Sadiyon Se India Ka Apna Game – Zupee Campaign
Featuring Saif Ali Khan, Sunil Grover, Mouni Roy, Vijay Raaz, and Abhay Deol, the campaign titled âSadiyon Se India Ka Apna Gameâ aims to generate widespread excitement by taking viewers on a captivating journey from the Stone Age to the digital era, uniting everyone in their shared love for Ludo. With vibrant visuals and clever storytelling, it cleverly chronicles the evolution of Ludo through the ages, blending engaging narratives with humor, and ultimately showcasing its contemporary skill-based version of Zupee.
To enhance campaign performance, Zupee utilized Taboola SmartBid, an automated bidding technology that analyzes campaign and conversion data within Taboolaâs network. This technology predicts the likelihood of user conversion for every impression, allowing for more efficient and effective advertising strategies.
Zupee leveraged Taboolaâs 15-second motion ad format and sponsored content to effectively scale its user acquisition efforts on premium publisher sites throughout the open web. The quality of users gained through Taboola was noteworthy, characterized by high retention rates and a low incidence of fraud.
Zupee – Awards and Achievements
Zupee’s ‘India Ka Apna Game’ campaign has garnered two prestigious accolades!
They proudly secured the Marketing Award from Business World and the PR Award from IPRCCA, further highlighting the success of their campaign.
Zupee has achieved outstanding recognition at the esteemed IMAGEXX2023 Awards by ADGULLY for their campaign, ’10 minute me Game ho jaega’.
Zupee’s future plans include diversifying its game offerings by adding fantasy games and card games like poker and rummy. They also plan to focus on innovation, compliance, and responsible gaming. Additionally, Zupee is working on building a more equitable workplace by prioritizing diversity, fair compensation, and equal access to growth opportunities
FAQs
What is Zupee?
Zupee is a rapidly expanding online gaming platform from India. It focuses on skill-based games that add fun to your daily routine.
Who is Zupee owner?
Dilsher Singh Malhi and Siddhant Saurabh are the founders of Zupee.
When was Zupee founded?
Zupee was founded in 2018.
Who are the main competitors of Zupee?
The main competitors of Zupee include Dream11, MPL, Gameloft, LOCO, and others.
Sushree Sangeeta Behera
