Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by ZestMoney.
Many times in our lives, we just need a small financial push to realize our dreams or fulfill our needs. In today’s organized money market, we turn to banks and other financial institutions for credit for various purposes. However, it’s not always easy to get a loan. From documentation to your current income and credit history, there are lots of parameters that you need to fulfill to get credit.
Thankfully, the scenario is changing now, and many financial and fintech startups are coming up with innovative ways to make borrowing easy and quick for customers.
Bangalore-based ZestMoney is one such fintech startup that is making borrowing possible for people who have an insufficient credit history. People can get quick and easy loans and pay for products with ZestMoney Easy EMI.
Let’s know more about this BNPL startup that is making life easy for millions of Indians by providing easy access to credit.
ZestMoney is a platform that uses mobile technology, digital banking, and Artificial Intelligence to make getting loans easy. While many lending organizations hesitate to lend money in the absence of proper credit history, ZestMoney is the platform that does not see the absence of credit history as a barrier to getting a loan. ZestMoney through its AI-based machine learning decision engine creates a risk profile for every borrower. The ones who do not have sufficient credit history just need to provide some additional information based on which ZestMoney’s Decision Engine analyzes the credibility of the borrower and lends him money.
The products of ZestMoney include ‘credit limit’, also called ZestMoney EMI, and personal loans. To be able to access the ZestMoney Credit Limit, one just has to sign up with ZestMoney and complete the KYC process. Once approved, a user is assigned a credit limit based on his eligibility, and the user can use this credit limit to make payments to ZestMoney’s 3000+ merchant partners. ZestMoney has partnered with leading brands from different categories like Amazon, Flipkart, Myntra, SleepyCat, Xiaomi, NestAway, UpGrad, and many more.
The company’s lending partners include DMI Finance, Fox Capital, PACE Finance, Northern Arc, SMC Finance, Nahar Credits, InCred, Muthoot Finance, CSB Bank, Ghalla Bhansali, IIFL, and Hedge Finance.
ZestMoney offers personal loans only to customers who are using ZestMoney’s ‘Credit Limit’ service. As such one who wants to take a personal loan from ZestMoney needs to apply for ZestMoney ‘Credit Limit’ first.
ZestMoney’s founder trio, Lizzie Chapman from London, Priya Sharma from Delhi, and Ashish Anantharaman from Mumbai, were associated with a UK-based finance company called Wonga.
Lizzie Chapman
Lizzie Chapman served as the co-founder and CEO of ZestMoney. Lizzie was a student at the University of Edinburgh, where she obtained her BSc. degree in Microbiology. She started her career with Goldman Sachs, where she worked as a Business Analyst and an Associate. She then served as an Investment Manager at the Wellcome Trust. Wonga.com was the next company that she joined, and she served as the Country Head of India there. She then founded Abode Bombay. She also served as an Executive Director at DBS Bank and a Non-Executive Board Member at IndiaMart.
Lizzie is an advisor at India Quotient, a member of the Innovation Council of the National Payments Corporation of India (NPCI), and a member of the National Startup Advisory Council (NSAC).
Priya Sharma
Priya Sharma served as the co-founder, CFO, and COO of ZestMoney. Priya did a B.Tech. in Metallurgical Engineering from IIT Varanasi before obtaining an MBA in Finance from London Business School. Priya Sharma served as a Senior Associate at Sapient, a Consultant at Delloite, and an associate at Bank of America Merrill Lynch, and then she joined Wonga.com, where Priya was the head of corporate development before joining hands with the other co-founders and building ZestMoney.
Ashish Anantharaman
Ashish Anantharaman served as the co-founder and CTO of ZestMoney. He has a Bachelor’s degree in science, software engineering from the University of Mumbai. Ashish previously served as an Application Developer at Veritas Technologies LLC, a senior developer at Betfair, an engineering team lead at Sportingbet, and then the head of engineering at Wonga.com.
In a recent development, co-founders Lizzie Chapman, Priya Sharma, and Ashish Anantharaman have stepped down from their positions at ZestMoney. This decision comes in the wake of the collapse of the anticipated acquisition deal with PhonePe.
ZestMoney has announced that Abhishek Sharma, currently serving as the senior vice president of growth, Mandar Satpute, the chief banking officer, and Mohit Chhajer, the vice president of finance and financial operations (FinOps), will assume leadership positions within the company. This decision reflects ZestMoney’s commitment to maintaining a strong and experienced leadership team.
ZestMoney – Startup Story
Lizzie, Priya, and Ashish observed that the Online Credit Transaction facility was not up to the mark in India. Also getting credit was not easy for those who do not have proper credit history. With their knowledge and experience, they wanted to create a solution to resolve these uses, which led them to start ZestMoney in 2015.
ZestMoney – Mission and Vision
“We are on a mission to make life more affordable for India using technology-led solutions,” says the mission statement of ZestMoney. Making life affordable is the vision of ZestMoney.
ZestMoney – Name, Tagline & Logo
ZestMoney Logo
The word ‘Zest’ stands for positive feelings like enthusiasm, zeal, and passion, and thus the word ‘Zest’ in ‘ZestMoney’ represents the quick lending of money by ZestMoney thus making borrowing money a happy process rather than a matter of concern. The tagline of the company is ‘Adjust Nahi, Zest Karo.’
ZestMoney – Business and Revenue Model
ZestMoney acts as a virtual EMI platform, which integrates with merchants across online and offline channels. The company serves as a payment partner and an affiliate partner to these merchants and helps bring them new transactions and customers.
The company generates the major chunk of its revenues from the Direct Selling Agency Fees, which is the money that the company collects from its lending partners (NBFCs) as a result of the various services like lead generation, KYC, customer care and branding, which it provides. ZestMoney also charges a merchant commission on a fixed rate on products and services purchased by the borrowers from the merchants. Arranger fees are another vertical of revenue that ZestMoney has along with the other verticals, which consists of income from any other revenue wing.
ZestMoney has raised funding from leading investors like Goldman Sachs, Quona Capital, Alteria Capital, and Primrose. The funding details of ZestMoney are listed below:
Date
Funding Round
Amount
Lead Investors
June 29, 2022
Debt Financing
$2.54 million
Alteria Capital
September 22, 2021
Series C
$50 million
Zip Co Limited
March 13, 2020
Venture
$11.3 million
Primrose Hills Ventures
December 19, 2019
Series B
$15 million
Goldman Sachs
April 22, 2019
Series B
$20 million
Quona Capital
January 18, 2019
Debt Financing
–
Alteria Capital
August 27, 2018
Series A
$13.4 million
Xiaomi
December 7, 2016
Series A
$6.5 million
PayU
September 1, 2015
Seed
$2 million
Nelson Holzner, Omidyar Network
ZestMoney – Growth and Revenue
ZestMoney earns commissions from merchant partners, lending partners, and also from borrowers. The company has reported that it has 17+ million registered users and expects the numbers to rise further.
In 2019, the company also had an NPS rating of 75, which is higher than that of Amazon and Uber.
In March 2021, ZestMoney stood second in a ranking of the 50 fastest-growing technology companies in India by Deloitte Technology. The rankings were based on percentage revenue growth over three years and ZestMoney grew 2,706 percent in these years.
The leading player in the Indian fintech industry, ZestMoney’s total revenue grew 1.6x to INR 145 crore in FY22 from INR 89.3 crore in FY21. Operating revenue also witnessed substantial growth, soaring by 68.6% to INR 138.4 crore in FY22 from INR 82 crore in FY21.
However, alongside its revenue growth, ZestMoney also faced widening losses, with losses expanding 3x to INR 398.8 crore in FY22 compared to INR 125.8 crore in FY21.
ZestMoney – Partnerships
Though ZestMoney is known for partnering with lenders like ICICI Bank, TATA Capital, DCB Bank, and more, the company also saw some partnerships outside of it.
ZestMoney partnered with Pickyourtrail on February 2020. The fintech company collaborated with the Chennai-based travel startup to provide consumers with flexible payment options for booking itineraries. This tie-up comes as a part of Pickyourtrail’s strategic plan to reach more customers.
The new partnership aims to facilitate travelers a more seamless travel booking experience by offering No Cost EMIs, along with options to ‘Travel now, pay later in 3 easy installments’. Providing the highest approval rates and zero pre-closure charges, travelers now don’t require credit history and are assured hassle-free online loan approval to experience their dream destination.
ZestMoney is the largest consumer lending fintech company in India. Its unique platform uses mobile technology, digital banking, and Artificial Intelligence to make life more affordable to people who currently don’t have access to credit cards or formal financing options due to insufficient credit history. Pickyourtrail is the latest brand to get Zestmoney onboard as a payment partner. The company has previously partnered with notable brands like Amazon, Myntra, Raymond, Uber, Big Bazaar, and Titan.
ZestMoney – Competitors
Some of the major competitors of ZestMoney are:
Finzy
LazyPay
Snapmint
KredXIndia
ZestMoney – Future Plans
The company plans to expand its product development and partnerships with an increased run rate in the future. While several ZestMoney Merchant Partners like Xiaomi, Titan, and Croma, accept ZestMoney EMI at offline stores, the company is partnering with more such merchants which will allow customers to pay using ZestMoney EMI in more offline outlets.
FAQs
What is ZestMoney?
ZestMoney is a Bangalore-based Fintech startup that is making borrowing possible for people who have an insufficient credit history.
Who is the Founder of ZestMoney?
Lizzie Chapman, Priya Sharma, and Ashish Anantharaman are founders of ZestMoney.
Who are the competitors of ZestMoney?
Finzy, LazyPay, Snapmint, and KredXIndia are some of the major competitors of ZestMoney.
Who are the partners of ZestMoney?
ZestMoney has partnered with leading brands like Amazon, Flipkart, Myntra, Xiaomi, Udacity, upGrad, and many more.
Who are the lending partners of ZestMoney?
The lending partners of ZestMoney include DMI Finance, Northern Arc, SMC Finance, Nahar Credits, InCred, Muthoot Finance, CSB Bank, Ghalla Bhansali, IIFL, and Hedge Finance.
How do I pay with ZestMoney?
To pay with ZestMoney, select the EMI option at checkout and choose ZestMoney EMI as your payment method.
The global student housing industry has witnessed significant growth and transformation in recent years, driven by the increasing demand for housing solutions tailored to the unique needs of students studying abroad. As more students pursue educational opportunities in different countries, the need for reliable and convenient accommodation options has become extremely important.
In this evolving landscape, Amber has emerged as a prominent player in the industry, offering a platform that connects students with suitable accommodations near their universities. Amber’s commitment to simplifying the housing search process and providing a seamless booking experience has made it a preferred choice among students worldwide.
In this article, let’s explore Amber and its inspiring story of success, including its founders, business and revenue model, startup story, and more.
Amber is a user-friendly accommodation booking platform that specializes in helping students find and book full-time accommodations near their universities. With a wide range of housing options tailored for students, Amber simplifies the process of finding and securing accommodation. The platform provides a seamless booking experience, ensuring a convenient and stress-free housing search for students worldwide.
Amber – Industry
Here are the prominent details regarding Amber’s market/industry:
Industry and Target Market Size: The global student housing industry serves a global market of over 235 million higher education students, with approximately 70% residing in off-campus accommodations. Student demand for housing continues to considerably exceed supply in most destinations, to the point where access to affordable housing is an increasingly pressing issue for students when planning to study abroad. As the Purpose Built Student Accommodation (PBSA) sector continues to expand, the supply crunch has caused 53% of the global student population to opt for private accommodations in major education markets.
Market Share Calculation: Its market share calculation takes into account the significant growth in student housing rental yields across key international markets, including the US, France, the Netherlands, Spain, Germany, and the UK. Amber has established itself as the foremost global platform for student housing, surpassing competitors and cementing its position as an industry leader. This achievement can be attributed to its unwavering commitment to leveraging technology and optimizing operational efficiencies.
Industry Outlook in the Next Five Years: Regarding the industry outlook in the next five years, Amber anticipates significant growth and transformation in the student housing industry. The demand for streamlined, user-friendly platforms that simplify the process of finding and booking accommodations will continue to increase. Advancements in technology, along with changing student preferences, will shape the industry’s direction. The student housing market will continue growing for the foreseeable future, given that only 20% of student housing needs are met by educational institutes’ accommodations globally, offering a goldmine of potential for industry players.
Company Outlook in 5–10 Years: Looking ahead to Amber’s company outlook in five to ten years, it envisions itself as the dominant force in the student housing market, further expanding its global presence. Amber will continue to innovate and enhance its platform, leveraging technological advancements and customer feedback to provide an unparalleled user experience. By strengthening partnerships with universities, property management, and other stakeholders, Amber aims to solidify its position as the go-to solution for students seeking convenient and high-quality accommodations worldwide. By 2023, Amber aims for 100,000 bookings with a gross value of $1 billion.
Amber – Founders and Team
Amber was founded in 2016 by Saurabh Goel and Madhur Gujar.
Madhur Gujar
Madhur Gujar – Chief Business Officer and Co-founder, Amber
Amber is fortunate to have a team of exceptional founders who bring diverse backgrounds and expertise to the company. Mr. Madhur Gujar, the charismatic Co-Founder and Chief Business Officer, holds a distinguished Mechanical Engineering degree from IIT Kharagpur. With his entrepreneurial prowess and business acumen, Madhur has played a pivotal role in driving Amber’s success through his expertise in business development, marketing, and strategy.
Saurabh Goel
Saurabh Goel – CEO and Co-founder, Amber
Mr. Saurabh Goel, the dynamic Co-Founder, and CEO, is the visionary driving force behind Amber’s extraordinary growth. He holds a Bachelor of Technology degree in Chemical Engineering from IIT Kharagpur. With his expertise in technology and business, Saurabh has been instrumental in propelling Amber’s impressive journey, drawing from his prior experience at Housing.com, a prominent online real estate platform.
The task division among the founders is aligned with their respective areas of expertise and responsibilities. Madhur Gujar leads the business development and marketing efforts, while Saurabh Goel oversees the overall strategic direction and technological advancements of the company.
Amber Team
Amber Team
Amber currently has a workforce of over 600+ employees as of April 2023, reflecting the rapid growth and expansion of the company. The company believes in hiring young minds and fostering a culture of innovation, collaboration, and creativity. Its hiring philosophy focuses on attracting talented individuals who are passionate about revolutionizing the student accommodation industry and contributing to the collective success of Amber.
Amber – Startup Story
Established in 2016 by Mr. Saurabh Goel and Mr. Madhur Gujar, both esteemed alumni of IIT Kharagpur, Amber emerged as a game-changing student accommodation booking platform. Its inception was driven by the vision to provide an all-inclusive solution for students seeking affordable and secure accommodations overseas. Today, Amber stands tall as one of the Asia Pacific region’s fastest-growing enterprises, having catered to the needs of over 2 million students worldwide.
The inspiration to start the company came from firsthand experiences of helping friends find accommodations when moving to the US. Witnessing the inefficiencies and challenges in the housing process sparked the idea for Amber. To validate the concept, market research was conducted, revealing a significant problem in the market with outdated and inefficient methods for finding and booking accommodations.
During the journey of ideation, designing, and prototyping, key insights from Saurabh, who had previous experience at housing.com, were instrumental in identifying market gaps and applying learnings to build Amber. The initial response to the concept was overwhelming, with over 1,000 accommodation requests received within 24 hours of launching a rudimentary website.
By focusing on technology and operational efficiencies, Amber has quickly established itself as a market leader, surpassing competitors.
Amber – Vision and mission
Vision Statement: Amber’s vision is to be a trusted global leader for student accommodation, empowering students worldwide with seamless accessibility to find and book their ideal full-time accommodations.
Mission Statement: Amber aims to provide a one-click student accommodation platform that empowers students worldwide to easily discover, compare, and secure high-quality accommodation near their universities. By eliminating the complexities of negotiation, non-standardized paperwork, and unreliable payment processes, Amber aims to enhance the overall student experience and become the go-to solution for student housing. With its extensive listings spanning multiple countries and cities, Amber strives to connect over 235 million students with their ideal living spaces, fostering a sense of belonging and enabling academic success.
Amber – Name, Tagline, and Logo
Amber Logo
The process of creating the name, tagline, and logo for Amber, a one-stop solution for student accommodation, involved careful consideration and a focus on capturing the essence of the brand. Here’s an overview of how the elements were arrived at:
Name: The team wanted a name that evoked a sense of warmth, comfort, and familiarity while also reflecting the commitment to providing a secure and welcoming environment for students. After brainstorming various options and conducting market research, “Amber” was chosen as it symbolizes a warm and inviting atmosphere, reminiscent of a cozy home.
Tagline: The tagline, “Home away from home,” was crafted to encapsulate the core promise of the company. The aim is to create a living experience that goes beyond mere accommodation, offering a place where students can feel at ease, supported, and cared for, just like they would in their own homes.
Logo: The design of the logo aimed to visually represent the brand’s identity and values. A clean and modern look was chosen, with elements that conveyed a sense of comfort and belonging. The logo features a combination of soft colors, smooth lines, and a welcoming symbol, all of which reinforce the commitment to providing a welcoming and nurturing environment for students.
Overall, the goal was to create a name, tagline, and logo that resonated with the target audience and conveyed the brand’s values of comfort, security, and a home-like atmosphere. The intention was for students to instantly connect with the brand and feel confident in choosing Amber as their trusted student accommodation provider.
Amber – Product/Service
Amber provides a cutting-edge platform that revolutionizes the house-hunting experience for students. Its product eliminates the challenges of landlord negotiations, non-standard paperwork, and cumbersome payment processes. Through strategic partnerships with universities, property management groups, and study abroad organizations, Amber empowers students to effortlessly secure comfortable accommodations near their campuses.
Using its secure online search and intelligent filtering options, students can easily find personalized options that meet their specific needs. Amber also offers round-the-clock customer service to ensure a seamless experience throughout the accommodation search process.
The unique selling proposition (USP) of Amber revolves around its commitment to operational efficiencies and a personalized approach to student accommodation. Through astute recognition of opportunities in the pre and post-accommodation domain, Amber has expanded its offerings with amber+. This all-inclusive, in-house service effectively streamlines all supplementary requirements associated with booking and residing in student accommodations, providing students with a comprehensive and convenient solution.
Amber offers enticing features such as round-the-clock/24X7 assistance, virtual property viewings, and a dedicated team of dynamic and highly skilled professionals, ensuring that students receive unparalleled support throughout their accommodation journey. The proof of Amber’s unwavering commitment to excellence can be seen in its stellar reviews on reputable platforms like Glassdoor, where it boasts an impressive rating of 4.6 out of 5 and its outstanding trust score of 4.8 out of 5 on Trustpilot. These accolades solidify Amber’s position as a trusted and reputable provider within the industry.
In 2022, Amber decided to pivot and introduce amber+ as a suite of value-added offerings to cater to the diverse needs of international students studying abroad. This expansion further enhances Amber’s ability to serve students beyond accommodations.
Amber operates on an aggregator model, bringing together various real estate properties, including Purpose-Built Student Accommodations (PBSAs), onto its platform. The revenue model primarily revolves around earning a commission for each successful booking made through the platform.
Amber’s revenue model involves a commission structure where the platform receives a percentage of the transaction value as compensation for facilitating the booking process. The exact commission rates and profit margins may vary based on the agreements and partnerships established with property providers.
Amber – Launching Company Strategies
Acquiring the first 100 customers for Amber was an exciting milestone in the company’s journey. When the company initially launched with zero users, it found success by leveraging Facebook groups as a crucial channel for reaching out to students interested in studying abroad.
The strategy involved acting as facilitators, connecting these students with verified listing owners that matched their accommodation needs. By engaging with these Facebook groups, the company was able to tap into a targeted audience actively seeking international study destinations. This approach allowed it to provide a valuable service by connecting students with suitable accommodations and driving bookings.
Through an active presence in these Facebook groups, the company established trust and credibility among students, showcasing expertise in the student accommodation market. This personalized approach enabled the company to acquire its first 100 users and lay a strong foundation for future growth.
Overall, leveraging Facebook groups as a key channel and utilizing the role of facilitators proved to be an effective strategy for acquiring the initial customer base. It allowed the company to connect with the right audience, offer a valuable service, and establish itself as a trusted provider in the student accommodation industry.
Amber – Customer Acquisition and Retention Strategy
To achieve significant user growth, a comprehensive marketing approach was implemented. Firstly, performance marketing campaigns were employed on platforms like Google Ads and social media channels, specifically targeting students to increase awareness and generate initial interest.
Secondly, the website was optimized using search engine optimization techniques, including keyword targeting, navigation improvements, contextual internal linking, and UI/UX enhancements, to enhance organic traffic and search rankings.
Thirdly, referral programs were established, offering incentives to early adopters who referred their friends and peers. This leveraged word-of-mouth marketing and expanding the user base through existing student networks.
Additionally, strategic partnerships were forged with universities, study-abroad organizations, and property management groups. This allowed the company to gain visibility and provide exclusive deals to students.
Lastly, campus outreach activities such as organizing information sessions, participating in student fairs, and distributing promotional materials were undertaken to directly interact with students and highlight the benefits of using the platform.
These multi-channel strategies collectively resulted in Amber’s user base growing from 100 to 10,000.
Amber – Funding and Investors
Amber has raised $21 million in four funding rounds.
Here are the funding details:
Date
Funding Round
Amount
Investors
Feb 12, 2024
Debt Financing
$2.5 million
Gaja Capital, Lighthouse Canton, Stride Ventures
Feb 12, 2024
Private Equity Round
$18.5 million
Gaja Capital
Jul 1, 2022
Venture Round
–
–
Jun 1, 2021
Venture Round
–
–
Amber – Growth
Amber has consistently achieved revenue growth, with an increase of 4x year-over-year. Moreover, the company has seen a significant boost in profitability, with a 40% increase compared to the previous year. The user base has also expanded rapidly, with a 4x increase in active users. These achievements can be attributed to the company’s commitment to providing a seamless experience for students seeking accommodations.
As a key player in the student accommodation sector, Amber has successfully expanded its presence to other major countries. The Gross Booking Value (GBV) reached 350 million USD in 2022, highlighting the growing demand for the platform.
Amber has established partnerships with notable clients in international real estate and education, solidifying its reputation in the industry. The company has received impressive reviews on Trustpilot, indicating high user satisfaction.
Looking ahead, Amber’s future plans involve expanding internationally, investing in advanced technology, and growing its network of accommodation providers to offer diverse options. With strong performance, a growing user base, strategic partnerships, and a focus on innovation, Amber is positioned for continued growth.
Amber – Challenges Faced
During the COVID-19 pandemic, Amber faced significant challenges in the student accommodation industry. One of the key challenges was the uncertainty surrounding institute admissions, which left students unsure about their accommodation needs. In response, the company introduced a policy of free cancellation for almost all properties. This policy was specifically designed to help students navigate the uncertainties of the time and provide them with flexibility and peace of mind.
Managing the sudden growth of the workforce was also a major challenge during the pandemic. To overcome it, strategies such as scalable onboarding processes, streamlined communication channels, agile team structures, and a culture of continuous improvement were implemented. The company successfully integrated new team members and maintained productivity. However, transitioning to remote work had its challenges, including work-life balance and communication across time zones. Adopting an agile development methodology also required adjustments.
Overall, the company thrived and achieved remarkable growth by effectively managing these challenges and embracing new initiatives.
Amber – Tools Employed
To enhance collaboration among team members, Amber relies on a range of tools including Notion, Slack, Google Workspace, and Keka. Notion serves as the central knowledge base, allowing for seamless organization and sharing of information. Slack facilitates real-time communication, enabling efficient team collaboration and quick decision-making. Keka helps manage various HR and payroll processes, ensuring smooth operations and employee satisfaction. By leveraging these tools, Amber optimizes productivity and creates a cohesive work environment that drives the company’s success. Google Workspace provides messaging, meetings, document collaboration, and task management capabilities to support the workforce.
For data and insights, Amber utilizes Tableau and Google Analytics for measurement, tracking, and visualization. To handle user messaging and query resolution, Amber utilizes Intercom as a chat tool on the website.
Additionally, Amber employs secure web hosting services, content delivery networks, Google Maps embeds, and secure payment gateways among other tools to deliver a best-in-class experience for its customers.
Amber is proud to have received the prestigious recognition of being named one of the FT rankings: Asia-Pacific High-Growth Companies 2022 and High Growth Companies in Asia Pacific in 2023 by the Financial Times. This esteemed award serves as a testament to Amber’s unwavering commitment to innovation, customer satisfaction, and sustainable growth.
The award is a great honor, further motivating Amber to continue striving for excellence and delivering exceptional value to students and accommodation providers worldwide.
Amber – Competitors
In the student housing market, Amber faces competition from several notable players, including Student.com, University Living, UniHomes, Unilodgers, UniAcco, and uhomes.
These companies are also dedicated to providing accommodation solutions for students and have established their presence in the market. Amber acknowledges the presence of competition and aims to differentiate itself by offering a unique and exceptional experience to its users through its platform.
Amber – Future Plans
Amber is strategically positioning itself to capitalize on the vast potential of the student accommodation market. Its future plans revolve around leveraging its expertise and market presence to achieve ambitious goals within the next five years. The company is committed to sustainable growth and long-term value creation, aiming to become a leading global force in the student accommodation industry.
To achieve these objectives, Amber’s focus will be on prioritizing technological advancements and product innovations. By staying at the forefront of technological developments, the company will continuously enhance its offerings and elevate the overall user experience. Furthermore, expanding operations into new regions will enable Amber to extend its reach and cater to a broader student population. Strategic partnerships will also play a crucial role in driving growth, allowing the company to tap into new markets, unlock new customer segments, and generate demand for its services.
As the leading player in the student accommodation market, Amber has set ambitious growth targets for the next three years. The goal is to grow tenfold by 2025, aiming to deliver 225,000 bookings and achieve a gross booking value of $2.5 billion. These aspirations demonstrate the company’s unwavering determination to solidify its position as the premier rental provider in the industry.
FAQs
What does Amber do?
Amber provides a cutting-edge platform that revolutionizes the house-hunting experience for students. Its product eliminates the challenges of landlord negotiations, non-standard paperwork, and cumbersome payment processes.
Who is the founder of Amber?
Amber was founded in 2016 by Saurabh Goel and Madhur Gujar.
What is the business model of Amber?
Amber operates on an aggregator model, bringing together various real estate properties, including Purpose-Built Student Accommodations (PBSAs), onto its platform.
Who are the top competitors for Amber?
Amber faces competition from several notable players, including Student.com, University Living, UniHomes, Unilodgers, UniAcco, and uhomes.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Aura.
Cybersecurity has become a crucial part of our daily lives, whether a person is scrolling through social media at his home or connecting to public WiFi hotspots. Due to cloud services and global connectivity, cyber threats can come from anywhere, anytime. Therefore, protecting personal systems, networks, and accounts is essential.
You can find several cybersecurity tools and software to protect businesses against cyberattacks, but there are limited solutions for individuals. It’s when Aura came to the rescue. It is a US-based technology company offering individuals and families all-in-one digital threat protection solutions.
This article will help you uncover everything about Aura, from its startup story, founder, and mission to its business and revenue model, funding, and plan.
Previously known as Affinity Solutions, Aura is a developer of digital security software designed to protect privacy and prevent identity theft. Its all-in-one intelligent safety solution manages and protects against the risks related to personal information, enabling the entire family to manage its cybersecurity needs easily and effectively. More than 1.7 million customers trust the company’s offerings.
Aura – Industry
Aura caters to the cyber security industry, whose market size was estimated at USD 153.65 billion in 2022. The market can grow $424.97 billion by 2030 with a CAGR of 13.8% during 2023-30.
Size of the cyber security market worldwide from 2019 to 2030
With robust cybersecurity software and solutions, individuals and companies can protect their systems, programs, and network from digital attacks. The Covid-19 pandemic significantly boosted the need for security solutions across government and healthcare sectors, which resulted in market growth.
Due to rising technological advancement and the usage of digital channels and e-commerce platforms, the need for robust digital security solutions is increasing, creating expansion opportunities for key industry players. In addition to Aura, Cisco Systems, Inc., IBM Corporation, Fortinet, Inc., Microsoft Corporation, and ProofPoint, Inc. are leading the cybersecurity market.
Aura – Founders and Team
Hari Ravichandran is the founder of Aura. He studied B.S. in Computer Engineering from Mississippi State University, Electrical Engineering from Stanford University, and went to The Warton School for MBA.
In addition to Aura, he founded Endurance International Group and Jump Ventures. Currently, Hari is the CEO of Aura and Jump Ventures.
Hari Ravichandran – Founder and CEO, Aura
Aura’s team comprises over 660 employees with profound experiences in identity, privacy, and security.
Aura – Startup Story
Aura was founded by Hari Ravichandran in 2017. Ravi was surprised when he learned his credit information was stolen in 2014. As a result, he invested a lot of time in finding out what can he do. During his research, he learned that digital security was a significant problem with no effective solution. The products that were available for help were expensive, confusing, and difficult to use. But the most critical concern was that no product could offer him all the required solutions.
It was when he was inspired to establish a company that assures people of a safe online experience. In December 2017, iSubscribed was formed to simplify online security. The company launched Intrusta antivirus and acquired Intersections Inc and Identity Guard in 2018. It was in July 2019 that iSubscribed and Intersections Inc. was renamed to a combined business entity Aura.
In 2022, the company added automatic password change and integrated parental controls into its intelligent safety platform. Currently, the company is serving more than a million members worldwide.
Aura – Mission and Vision
Aura’s mission is to create a safer internet for everyone. The company is working on enabling people to live with the assurance that their identity, devices, and online accounts will remain safe, protected, and private, no matter where they go. It is dedicated to making comprehensive digital security that is accessible to all.
Aura – Business Model
Aura offers identity theft protection tools preventing clients’ data from being hacked and protecting against identity theft. The individual’s data is monitored for financial transactions, social security, personal data, home title, and criminal and court activity.
Moreover, Aura keeps tabs on data brokers and the dark web. The software watches for suspicious activities in clients’ bank, retirement, or other financial accounts. A person can access multiple features, like credit lock, lost wallet, monthly and annual credit bureau reports, etc.
Aura – Revenue Model
Aura’s all plans come with $1 million insurance and 24/7 customer support. The company offers three plans- Family, Couple, and Individual, for a 14-day free trial. Below is the pricing of all three plans-
The dot-com crash in 2000 was the biggest challenge for Aura. An advertising-based model subsidized the company’s business. And when the crash hit, many advertisers pulled back and caused a significant revenue downfall. Moreover, Aura lost a lot of its funding.
Aura – Funding and Investors
With 4 funding rounds, Aura raised a total of $500.7 million. The company conducted the latest funding round – Series F Round on October 19, 2021, and raised $200 million. 6 investors back Aura, of which Accel, Madrone Capital Partners, Warburg Pincus, WndrCo, and General Catalyst are the main ones.
Date
Round
Number of Investors
Money Raised
Lead Investor
October 9, 2021
Series F
6
$200 million
Madrone Capital Partners
June 9, 2021
Series E
1
$150 million
Warburg Pincus
July 15, 2019
Venture Round
2
$150 million
WndrCo, Generaal Catalyst
March 24, 2016
Seed Round
–
$675K
–
Aura – Mergers and Acquisitions
Aura acquired 2 companies, including Circle Media, on December 9, 2021, and Pango on July 7, 2020.
Aura – Growth
By solving more than 150,000 Identity Fraud cases, Aura’s annual revenue in 2022 grew from $220 million in 2021 to $300 million per year. Its post-money valuation stood at $2.5 billion in 2022. Employee count increased by -16%, and the monthly web growth rate is -19.27% with 2,290,488 visits.
Aura – Partners
Aura partners with several industries, including employee benefits, technology providers, auto dealerships, professional associations, insurance agents, and retailers. Below listed are some of its partners:
Blue Star Families New England
Kidas
Robert Downey Jr.
Cyversity
Cyber-Seniors
Timberwolves
DonorsChoose.org
$200M for Katzenberg-Backed Cybersecurity Firm Aura
Aura – Awards and Achievements
Some of the awards Aura is honored with are as follows:
Has been named a ‘Mom’s Choice Awards’ Gold Recipient for family-friendly apps and software.
Won’ Best in Business Award’ in the Security Category by Inc. Magazines 2022.
Aura – Competitors
Aura’s top competitors are listed below:
Kape Technologies
Identity Force
Allure Security
LifeLock
CPP Group
Identity Guard
Safe Shepherd
Keeper Password Manager
Aura – Future Plan
Aura plans to establish itself as a carbon-neutral company by the end of 2023.
FAQs
What does Aura do?
Aura is a developer of digital security software designed to protect privacy and prevent identity theft. Its all-in-one intelligent safety solution manages and protects against the risks related to personal information, enabling the entire family to manage its cybersecurity needs easily and effectively.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved byAurora Solar.
Environmental concern and reduced solar power cost has driven a boom in solar installation in commercial and residential buildings. Solar is estimated to make up around 2% of the United States power infrastructure and is projected to boost by an order of magnitude in 20 years.
While the demand for solar is increasing dramatically, the complexity of designing and installing solar panels remains. It’s when Aurora Solar emerged as the market leader by offering AI-driven solar design software.
In this article, you can explore every detail of Aurora Solar, including its founding story, founders, business and revenue model, products and services, funding, and more.
Aurora Solar, precisely called Aurora, develops cloud-based software to help solar companies transform solar design, sales, and delivery. The company just needs an address and electricity bill to empower its clients to generate a full, accurate, and customizable design for their customers.
90% of the 100 leading residential U.S. solar companies depend on Aurora to outpace the industry as of 2023. Moreover, the company has designed approximately 7 million+ solar projects worldwide for renowned customers, including Freedom Forever, Sunnova, SunPower, Zolar, SunPro, Namaste Solar, GAF Energy, and Gippsland Solar.
Aurora Solar – Industry
The global market size of solar energy systems was estimated at $160.3 billion in 2021 and can register a CAGR of 15.7% from 2023 to 2030. The increasing demand for sustainable energy and the declining solar energy costs have led to market growth.
With most of the research funding invested in the P.V. hardware research, Aurora offers solar P.V. designing and installation solutions. Other leading solar energy systems market companies are Jinko Solar, First Solar, SMS Technologies, BYD Company Ltd., Sungrow, and Tesla.
Aurora Solar – Founders and Team
Christopher Hopper and Samuel Adeyemo are the co-founders of Aurora Solar.
Christopher Hopper
Christopher Hopper – Co-founder and CEO at Aurora Solar
Christopher Hopper studied Master of Engineering at Imperial College London and an MBA at Stanford University Graduate School of Business. He is the ex-co-founder and ex-Chairman of e.quinox and a Founding Member of BBOXX Ltd. Currently, he is the Investor at Panther Labs and Co-founder and CEO at Aurora Solar.
Samuel Adeyemo
Samuel Adeyemo – Co-founder, Aurora Solar
Samuel Adeyemo attended the University of Chicago for an A.B., Economics, and Stanford University for an MBA and MSc, School of Earth Sciences. He is the ex-Analyst and ex-Vice President of JPMorgan Chase & Co. Moreover, Samuel has been CALISSA’s Board Member. He co-founded Aurora and worked there as its COO and CRO.
Aurora is a team of 560+ employees.
Aurora Solar – Startup Story
Aurora was founded in 2013 was Christopher Hopper and Samuel Adeyemi while studying at Stanford. They both worked on a solar installation project for a school in Nairobi, Kenya. It took them seven months to design the solar energy system and two weeks to install it. They spent more than half a year cobbling together several tools to design the solar system since there wasn’t another way to complete the project.
However, the project was a hit; the process wasn’t. After witnessing the designing and installation challenges firsthand, they decided not to work on these smaller projects. Instead, they thought of tackling a larger problem, i.e., making designing a P.V. system as easy as installing it. Therefore, they came up with Aurora Solar after brainstorming some ideas.
In 2015, the National Renewable Energy Laboratory validated the company’s performance simulation engine and remote shading accuracy. In November 2016, the U.S. Department of Energy’s SunShot Incubator Program awarded Aurora with $400,000. Aurora was the first assessment tool to be approved for demonstrating compliance with CA Title 24 solar mandate by the California Energy Commission in 2020.
Aurora Solar – Mission and Vision
Aurora’s mission is to create a future of solar energy for all people. The company envisions having every solar installation worldwide pass through its software.
Aurora Solar – Business Model
Aurora surveys installation sites using LiDAR, satellites, and data analytics. Its cloud-based software offers rooftop measurements, eligibility assessment, and solar design automation. The company uses data from satellite images and LiDAR to measure rooftops remotely. It can design proposals for rooftop solar installation within 15 minutes.
Furthermore, clients can virtually see how installed solar panels will look on their house and estimate electricity production and cost savings. Aurora also helps solar developers avoid cancellations and reduce the required resources and costs.
Aurora Solar – Revenue Model
Aurora generates revenue by offering a standard SaaS model, charging monthly or annual fees. Furthermore, its two pricing plans are Business Plans and Individual Plans. The business plan includes each offering in the individual plan. It further offers an option to choose from three plans- Build, Grow, and Scale.
Aurora provides products and services for Residential and Commercial customers, including:
Lead Capture AI
Aurora AI
Sales Mode
Contract Manager
Plan Sets
Design Mode
Expert Design Services
HelioScope
Aurora Solar – Challenges Faced
Aurora found the idea of using aerial scans and imagery of the entire region difficult to pull off since the data about topography, where and how the sun hits a specific location, information on aerial lidar scans, and satellite imagery was readily available. Another upcoming major threat for the company is the stringent regulation around commercial and residential PV pricing.
Aurora Solar – Funding and Investors
Over 5 funding rounds, Aurora has succeeded in raising a total of $523.5 million. On February 28, 2022, the company conducted its latest funding round – Series D Round and raised $200 million. Energize Ventures, Pear, Fifth Wall, Coatue, Lux, and ICONIQ are some leading investors that fund Aurora.
The company has 6 registered patents with ‘Computing; Calculating’ as the primary category.
Aurora Solar – Growth
Aurora’s installed projects grew from 1.5 million annually in 2019 to 10 million in September 2022. Its annual revenue is growing at over 50% yearly and was estimated at $93 million in 2022 ($165,757 revenue per employee). In February 2022, the company’s post-money valuation was $4 billion. Furthermore, its employee count growth rate is 47%.
Aurora Solar: The $4.4 Billion Green Energy Company Powered By Artificial Intelligence | Forbes
Aurora plans to deliver more learning experiences via webinars and other accessible content while continuing to update its offerings with new features. In addition, the company plans to expand internationally in Canada and Europe.
FAQs
What does Aurora Solar do?
Aurora Solar develops cloud-based software to help solar companies transform solar design, sales, and delivery. The company just needs an address and electricity bill to empower its clients to generate a full, accurate, and customizable design for their customers.
Who founded Aurora Solar?
Christopher Hopper and Samuel Adeyemo are the co-founders of Aurora Solar.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved byAthletic Greens.
Health and wellness have become the most significant concern among people, especially the young and middle-aged groups, in the last few years. And good nutrition is the cornerstone of good health. Good nutrition means your body gets all essential vitamins, minerals, fibers, iron, and other nutrients.
However, it has been reported that even a healthy and fit person can lack nutritional content. Sometimes, people find it difficult to fulfill their nutritional requirements even after having a balanced, nutrient-rich diet, doing workouts, and following a healthy lifestyle.
It’s when they turn to green dietary supplements rich in calcium, vitamins, iron, minerals, probiotics, and many other digestive enzymes. Athletic Greens is a prominent US-based company that supplies health supplements globally.
This article highlights every crucial detail of Athletic Greens, its founder, startup story, products, funding, growth, and more.
Athletic Greens is a supplement company that produces health supplements to help customers fill nutritional gaps in their diet. It offers paleo, vegan, and keto-friendly supplements that contain nutritional ingredients to help reduce stress and sleep deprivation, and maintain a diet, enabling customers to stay fit and healthy.
Athletic Greens – Industry
Athletic Greens operates in the Health, Wellness, and Fitness Industry. This industry involves researching and developing health and wellness goods and services.
The market size of health and wellness was valued at $4.7 trillion in 2021 and is projected to grow to $12.9 trillion by 2031, with a CAGR of 10.9% from 2023 to 2031. Increasing consumer spending on healthy and functional food and beverages is the main factor boosting the health and wellness market share. The rise in the prevalence of chronic lifestyle diseases worldwide is another market growth driving factor.
Wellness Market Worldwide
Moreover, the Covid-19 pandemic positively impacted the health and wellness market as these two terms became the key focus among people all around the world. Furthermore, Athletic Greens, Amway Corp., Danone, Bayer AG, Fitness First, and Herbalife Nutrition Ltd. are prominent global health and wellness players.
Athletic Greens – Founders and Team
Chris Ashenden is the founder of Athletic Greens. He graduated from the University of Auckland. Chris is currently the Founder and Chairman of Da Alegria (Give Joy) Fundacion. Moreover, he is working as Athletic Greens’ CEO and Director.
Chris Ashenden – Founder, Athletic Greens
Kat Cole is the company’s current President, COO, and Board of Directors. Even though Athletic Greens operates remotely only, the company employs around 250 employees.
Athletic Greens – Startup Story
Athletic Greens was established in 2010 by its founder Chris Ashenden. He is a health and wellness-obsessed individual, and despite knowing a lot about nutrition and wellness, he kept getting sick.
He ended up in a clinic in 2008 and spent $35,000 on each kind of blood, saliva, stool, and urine test to know why he continued to get sick. And he was shocked to find out that his body wasn’t absorbing nutrients.
He was asked to follow a supplement regime of 50 pills. Ashenden tried it for a while and realized what most people think about nutrition is wrong and that there would be a better alternative than taking 50 pills daily.
It is how Athletic Greens started with the launch of its flagship product, AG1.
Athletic Greens aim to empower people to take ownership of their health. Here health and wellness mean fulfilling the body’s nutritional requirements while staying physically and mentally fit.
Athletic Greens – Business Model
Athletic Greens’ business model focuses on a very small number of products the latest science indicates are essential to human health. The company created AG1, a powered beverage to provide daily nutrition. It manufactures AG1 in TGA-registered, NSF Good Manufacturing Practice (GMP) registered facilities in New Zealand. Moreover, the product is NSF Certified for Sport.
Athletic Greens – AG1
Athletic Greens – Products and Services
Athletic Greens’ primary product offering is AG1, which combines 75 whole foods and 8+ nutritional ingredients into one, including multivitamins and minerals, superfood complex, plant extracts and antioxidants, dairy-free probiotics, enzymes, and mushroom complex.
Athletic Greens – Challenges Faced
Despite of extensive ingredient list, Athletic Greens fails to provide Iron and Vitamin D in its product.
Athletic Greens – Funding and Investors
Athletic Greens have undertaken 2 funding rounds and raised $115 million. Its latest funding round – Venture Series Unknown Round, was raised on January 25, 2022, to secure a total of $115 million. Out of 32 investors, the main ones that back the company are Alpha Wave Global, SC. Holdings, Anthony Pompliano, and Harold Hughes.
Date
Round
Number of Investors
Money Raised
Lead Investor
January 25, 2022
Venture Round
23
$115 million
Alpha Wave Global
June 21, 2021
Angel Round
11
–
SC. Holdings
Athletic Greens – Patents and Trademarks
AG1 ATHLETIC GREENS is the trademark that Athletic Greens Inc. filed on March 23, 2021.
Athletic Greens – Growth
In 2022, the Athletic Greens’ estimated revenue was $38.7 million annually (with $157,871 revenue per employee). Moreover, the company approached 200% growth in revenue and 100% customer growth.
Its valuation was $1.2 billion in January 2022. The employee count grew by 67%, and monthly web visit growth is -0.46%, with 1,889,094 monthly visits.
Athletic Greens – Marketing and Social Media Strategy
Athletic Greens leverage podcasts to connect with target consumers. The company invests in other people’s podcasts, like Tim Ferriss and Joe Rogan. Even it launched its podcast, ‘Inspiring Lives’, to create authentic conversations with diverse audiences.
In addition, Athletic Greens leverages the paid user-generated content campaign. The company reposts many ‘green selfies’ with people posting their greens in mesmerizing locations and unboxing experiences on its IG stories.
AG1 by Athletic Greens: You’re Going to Need a Smaller Cabinet
Athletic Greens – Social Media Presence
With Athletic Greens’ remarkable social media strategy, it has succeeded in establishing a significant social media presence:
Social Media Platform
Followers
Instagram
458K
LinkedIn
44.2K
Facebook
255K
Twitter
11.8K
Athletic Greens – Partners
Athletic Greens has partnered with the following organizations:
No Kid Hungry
Fundacion Da Alegria
Urban Light
The Surf Lodge
OceanX
Athletic Greens – Awards and Achievements
Athletic Greens recently won the 2022 Illumi Award as an Outstanding Emerging Business.
Athletic Greens plan to expand its nutrition drink footprint globally.
FAQs
What does Athletic Greens do?
Athletic Greens is a supplement company that produces health supplements to help customers fill nutritional gaps in their diet. It offers paleo, vegan, and keto-friendly supplements that contain nutritional ingredients to help reduce stress and sleep deprivation, and maintain a diet, enabling customers to stay fit and healthy.
Who is the founder of Athletic Greens?
Chris Ashenden founded Athletic Greens in 2010.
Who is the present COO of Athletic Greens?
Kat Cole is the company’s current President, COO, and Board of Directors.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Nvidia.
The GPU, invented by Nvidia, in 1999, revolutionized parallel computing and fueled the expansion of the PC gaming business. GPU deep learning has lately sparked modern Artificial Intelligence, the next phase of computing, with the GPU serving as the brain of computers, robotics, and self-driving cars that can sense and understand the world.
Nvidia Corporation is a worldwide technology firm based in Santa Clara, California, that was founded in Delaware. Nvidia creates parts and systems that use artificial intelligence to improve computer visuals in gaming and other forms of media.
Nvidia – Company Highlights
Startup Name
Nvidia
Headquarters
Santa Clara, California, U.S.
Industry
Semiconductors, Artificial intelligence, Video games, Consumer electronics, Computer hardware
Founders
Jen-Hsun Huang, Curtis Priem, and Christopher Malachowsky
Nvidia Corporation is a company that specializes in graphics for personal computers, graphics processing units, and artificial intelligence. It is divided into two sections: the GPU and the Tegra Processor. GeForce for games, Quadro for designers, Tesla and DGX for AI data scientists and big data researchers, and GRID for cloud-based visual computing users are just a few of the GPU product brands it offers.
Tegra chips combine GPUs and multi-core central processing units (CPUs) to enable supercomputing for mobile gaming and entertainment devices, as well as autonomous robotics, drones, and vehicles. Gaming, Professional Visualization, Datacenter, and Automotive have all been addressed by the business’s processor. NVIDIA DGX AI supercomputer, NVIDIA DRIVE AI automotive computing platform, and GeForce NOW online gaming service are among the company’s offerings.
Its “GeForce” GPU line competes directly with Advanced Micro Devices’ “Radeon” GPUs (AMD). Nvidia increased its gaming footprint with the Shield Portable, Shield Tablet, and Shield Android TV handheld game consoles, as well as the cloud gaming service GeForce Now. Workstations with professional GPUs are used in sectors such as architecture, engineering, and construction, media and entertainment, automotive, scientific research, and manufacturing design.
Nvidia – Industry
In recent years, the cloud computing and AI (Artificial Intelligence) industries have seen substantial development and transformation. Cloud computing and artificial intelligence (AI) technologies have both become crucial components of modern enterprises, revolutionizing how organizations function, handle data, and make decisions.
Furthermore, the worldwide cloud AI market is anticipated to be worth $44.97 billion in 2022 and USD 62.63 billion in 2023. From 2023 to 2030, the global cloud AI industry is predicted to develop at a compound yearly growth rate of 39.6%, reaching USD 647.61 billion.
Nvidia – Founders and Team
Curtis Priem, Jen-Hsun Huang,and Christopher Malachowsky, three American computer scientists, founded the company in 1993.
Curtis Priem
Curtis Priem – Co-founder, Nvidia
Curtis R. Priem served as Nvidia’s Chief Technical Officer from 1993 to 2003. Right after this, he announced his retirement from Nvidia.
Curtis earned a B.S. in electrical engineering from Rensselaer Polytechnic Institute. He was responsible for creating the IBM Professional Graphics Adapter, the first graphics processor for the PC.
In addition, Curtis is also the head of the Priem Family Foundation, which he founded in September 1999 with his wife Veronica. He has received many awards, such as Entrepreneur of the Year (2001). Besides this, he was a trustee of Rensselaer from 2003 to 2007.
Jensen Huang
Jensen Huang – Co-founder, President, and CEO of Nvidia
Jen-Hsun or commonly known as Jensen Huang is the Co-founder, president, and CEO of Nvidia Corporation. Huang earned his bachelor’s degree in electrical engineering in 1984 and his master’s degree in electrical engineering in 1992 from Oregon State University.
Jensen Huang is known widely for carrying out many philanthropic activities. As part of a $200 million gift to establish a supercomputing facility on campus, he gave $50 million to his alma school, Oregon State University, in 2022. Furthermore, he was listed in Time 100, Time magazine’s yearly list of the top 100 global influencers, in September 2021.
Chris Malachowsky
Chris Malachowsky – Co-founder, Nvidia
Chris Malachowsky studied electrical engineering (B.S) at the University of Florida and got his M.S degree from Santa Clara University in 1986. In his initial days, Hewlett-Packard and Sun Microsystems were his first employers.
Chris serves as a member of the executive staff and a senior technology executive for the company. In addition to his technical achievements, he has also won an Emmy for the movie Inheritance, which he co-produced and won Best Documentary in 2009.
Nvidia – Startup Story
The three co-founders of Nvidia first came together while working at LSI Logic, a manufacturer of computer hardware. Like any other story of a startup, this company was founded at a roadside diner.
The co-founders identified a chance to create specialized hardware to meet the expanding demand for high-performance graphics in the developing PC gaming market. They initially concentrated on developing 3D graphics processors for personal computers. Their initial offering, the NV1, was introduced in 1995 but failed to find much commercial success.
They persisted even so, and they kept coming up with new ideas. A ground-breaking GPU with superior graphics performance and several important new features, including hardware transform and lighting, was introduced by NVIDIA in 1999 with the GeForce 256. As a result, the GeForce 256 was a huge hit and helped Nvidia become the market leader in the graphics sector.
In 1999, the company went public. With this, the company diversified its product line over time to cater to various market segments. They created professional GPUs for visualization, allowing businesses like film and design to produce stunning visual effects and lifelike simulations. Nvidia also entered the mobile computing market, offering GPUs for tablets, smartphones, and other portable devices.
Nvidia’s mission statement is “to provide the latest Nvidia news on products, technologies, and events. To highlight and engage with our fans.” The declaration demonstrates the company’s commitment to changing its user experience.
Nvidia – Name, Logo and Tagline
In 1993, Nvidia unveiled its initial logo. It was then that the eye that sees everything was chosen as the core narrative device. This logo has a long history and normally represents God’s eye, which sees everything, but it has a different symbolic significance in this context. Nvidia’s “eye” is always on the lookout for new ideas and possibilities.
Nvidia’s Company Logo
The wordmark and logo were both redesigned in 2006. The “eye” lost its black tint, while the lettering got bolder and took on a different shape. A capital letter has been substituted for the letter “n” in italics. The all-caps bespoke character was easy to read and understand. The wordmark’s first iteration used a serif typeface, whereas the second used a sans serif typeface.
The tagline of the company says, “The way it’s meant to be played.”
Nvidia – Products
Graphics, wireless communication, PC CPUs, and automotive hardware/software are all part of Nvidia’s product line. The following are some examples of families:
GeForce graphics processors are aimed at consumers
Nvidia RTX graphics processing solutions for professional visual computing (replacing Quadro)
NVS is a multi-display graphics solution for the commercial world
Tegra is a mobile device system on a chip series
Tesla is a dedicated general-purpose GPU designed for high-end picture production in professional and research settings
Nvidia’s nForce motherboard chipset supports Intel (Celeron, Pentium, and Core 2) as well as AMD (Athlon and Duron) microprocessors
Nvidia GRID is a combination of hardware and services for graphics virtualization developed by Nvidia
Nvidia Shield is a gaming platform that includes the Shield Portable, Shield Tablet, and, most recently, Shield Android TV
Nvidia Drive automotive solutions are a collection of hardware and software technologies that help drivers. Driveworks is a driverless car operating system, whereas the Drive PX-series is a high-performance computing platform intended for autonomous driving via deep learning
BlueField is a line of Data Processing Units that they got from Mellanox Technologies when they bought them
In 2023, Nvidia will release the Nvidia Grace Datacenter/Server class CPU
Nvidia – Business Model
The Nvidia business model entails combining hardware and software to provide a set of services and tools to help its GPUs perform better. Deep and machine learning models can run smoothly thanks to their software libraries, Software Development Kits, and API frameworks.
Various significant corporations are served by the company (such as Gaming, Data Centers, Professional Visualizations, and Automotive). Gaming and data centers were the strongest segments post-pandemic. As a toolbox built on top of Nvidia’s products, the company’s technology approach is based on the company’s continued development of GPUs for constructing AI/ML models for data cloud computing applications. While it places its chances on industries like autonomous automobiles.
With the acquisition of Mellanox and the announced acquisition of Arm, the firm has intensified its investments and product development in AI and cloud computing. Nvidia’s GPUs are designed, developed, tested, and manufactured with the company’s major focus on design, development, and manufacturing support.
Throughout 6 rounds, Nvidia has raised a total of $4.1 billion in funds. The company is funded by 7 investors, namely, ARPA-E, ARK Investment Management, Softbank Vision Fund, DARPA, Jean Abrial, TriplePoint Capital, and Sequoia Capital.
Date
Funding Round
Amount Raised
Lead Investors
May 9, 2023
Grant
$5 million
ARPA-E
August 9, 2022
Post-IPO Equity
$65 million
ARK Investment Management
May 24, 2017
Post-IPO Equity
$4 billion
Softbank Vision Fund
August 9, 2010
Grant
$25 million
DARPA
January 1, 2009
Post-IPO Debt
–
–
January 1, 1993
Seed Round
–
Sequoia Capital
Nvidia – Investments
Nvidia has made a total of 43 investments till now. The details of Nvidia’s most investments are:
Date
Organization Name
Lead Investor
Amount Raised
May 24, 2023
Ayar Labs
–
$25 million
May 2, 2023
Foretellix
–
$43 million
May 2, 2023
Cohere
–
$250 million
April 20, 2023
glocali.se
Yes
–
April 20, 2023
CoreWeave
–
$221 million
March 20, 2023
Luma AI
–
$20 million
March 14, 2023
Adept AI
–
$350 million
February 27, 2023
Skydio
No
$230 million
November 29, 2022
Deepgram
–
$47 million
November 15, 2022
WEKA
–
$135 million
Nvidia – Acquisitions
Nvidia has acquired21 organizations. Animatico, a Switzerland-based AI company was their most recent purchase as of May 1, 2022. Let’s take a look at the acquisitions of Nvidia.
Date
Acquiree Name
Amount
May 1, 2022
Animatico
–
March 7, 2022
Excelero Storage
–
January 10, 2022
Bright Computing
–
June 10, 2021
DeepMap
–
September 13, 2020
Arm Holdings
$40 billion
May 4, 2020
Cumulus Networks
–
March 6, 2020
SwiftStack
–
December 17, 2019
Parabricks
–
March 12, 2019
Mellanox Technologies
$6.9 billion
June 11, 2015
TransGaming
$3.8 million
July 29, 2013
PGI
–
May 9, 2011
Icera
$367 million
May 23, 2008
RayScale
–
Feb 4, 2008
AGEIA Technologies
–
Nvidia – Awards and Achievements
Nvidia has won numerous prestigious awards. Some of these are:
It has won theBest Places to Work, Employees’ Choice award by Glassdoor
Nvidia has been listed in Fortune among the “100 Best Companies to Work For”
Nvidia has won the Most Innovative Company, by Fast Company
Recognized as “Best Corporate Citizens” by JUST 100
It was also recognized by Harvard Business Review as the Best-Performing CEOs
Nvidia was Ranked 2 on the “Dave Thomas Foundation” by 100 Best Adoption-Friendly Workplaces
It was also listed Fortune 100 Best Workplaces for Millennials, workers born between 1981 and 1997
Nvidia – Competitors
Broadcom Corporation, Xilinx, AMD, Intel, Qualcomm Infor, and Broadcom are among Nvidia’s biggest competitors.
Nvidia – Challenges Faced
The cryptocurrency mining bust put Nvidia on the back foot in 2019, resulting in surplus GPU channel inventory (graphics processing units). As a result, the company was having trouble moving its cards and had to deal with lower pricing as a result of the absence of the crypto catalyst.
Nvidia publicly confirmed in September 2020 that the industry rumor about its large acquisition was correct. The Softbank Group has announced that the company will purchase Arm Limited. Nvidia is acquiring access to the entire corporation, as well as its huge portfolio of intellectual property and experience, by paying up to $40 billion for the purchase. That means Nvidia isn’t a true holder of the Arm ISA, which is the most widely used ISA in mobile processors. However, such a transaction is difficult to complete without encountering certain difficulties. Nvidia is anticipated to maintain its impartial position as an IP vendor like Arm did, and the company has already vowed to do so.
Nvidia’s Arm acquisition has been criticized by Google, Microsoft, and Qualcomm, who have asked antitrust officials to intervene. Nvidia’s approach, according to the companies mentioned, is damaging the market, and the business may restrict competitors’ access to the IP, so jeopardizing Arm’s impartial position as an IP provider. Although Nvidia has stated that Arm will remain in this role, the merger is being slowed by the distrust of the aforementioned corporations. Now it’s just a matter of time to see how the conflicted businesses resolve their issues.
Nvidia is well-known for its over-the-top graphics processing units, which are popular among serious gamers all over the world. While gaming continues to account for the majority of the company’s income, the landscape is shifting. High-tech will be the driving force behind Nvidia’s future.
The gaming sector has been rising, thanks in part to the incredible popularity of Esports and the rising quality of video games, according to Nvidia executives. Nvidia, as the leading supplier of graphics cards, has reaped the benefits of the market’s expansion. Gaming revenue has risen from $4.06 billion in fiscal 2017 to $5.52 billion in fiscal 2020, according to the company. The gaming industry is expected to grow tremendously by 2025. Esports will continue to grow in popularity, and the quality of video games is expected to improve even faster. This is partly due to Nvidia’s RTX GPUs, which started shipping in late 2018.
FAQs
Does Nvidia manufacture graphic processing chips?
Yes, Nvidia is a graphic processing chip manufacturer.
How does Nvidia make money?
Nvidia is a graphics processing chip company that makes the majority of its money selling graphics processing units (GPUs), which are used in competitive gaming, professional visualization, and cryptocurrency mining.
Which companies do Nvidia compete with?
Broadcom Corporation, Xilinx, AMD, Intel, Qualcomm Infor, and Broadcom are among Nvidia’s biggest competitors.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by BYJU’S.
Imagine you are sitting in a packed class, and the teacher is explaining an important concept. It appears that everyone else is understanding the teacher’s words and nodding their heads in unison, but this is not the same with you because you cannot understand an inch of the explanation going on in the class. Does this scenario resonate with you? Whether you accept it or not, such situations have happened at least once in a student’s life. Every person has his or her own pace of learning, and it is not possible for the teacher to take care of everyone in the class.
Thankfully, the Edtech sector is growing fast enough to fill this gap. And talking about EdTech in India, one name that can’t be missed is BYJU. Read on to find out how an engineer’s passion for teaching led him to start the world’s most valued ed-tech company.
BYJU’S was founded in 2011 by Byju Raveendran, and BYJU’S The Learning App was launched in 2015. BYJU’S is now valued at about $8.4 billion.
Let’s go through the Exciting Journey of BYJU’S and also discover more about BYJU’s Success Story, History, Founders, Funding, Revenue, Competitors, Acquisitions, and more.
The Bangalore-based educational technology platform BYJU’s is an online tutoring and coaching firm that was started in the year 2011 and runs on a freemium model. BYJU’s parent company is ‘Think and Learn Pvt Ltd’. The main aim of BYJU’s is to provide coaching through online video lectures for students of class 1 to class 12 and also for people who prepare for competitive exams like IIT – JEE, NEET, CAT, GRE, and GMAT.
BYJU’s – the Learning appwas launched in the year 2015 and has been a huge success. It is used by more than 15 million students all over the world and has 9,00,000 paid subscribers. The app helps the students to learn on their own rather than rely on spoon-feeding. Its approach combines the re-invention of learning, world-class teachers, proven pedagogical methods, and personalized learning.
Byju Raveendran is the founder of BYJU’s Classes, the education Technology firm.
Byju Raveendran
Byju Raveendran – Founder, BYJU’S
Byju Raveendran, BYJU’s founder, and CEO,was born in 1980 in Azhikode, Kerela. He has a B.Tech (mechanical engineering) from Government Engineering College in Kannur, Kerela. Before starting BYJU’s, Byju Raveendran was working in a multinational shipping firm as a service engineer. However, teaching was his passion and inspired him to start BYJU’s.
Besides being an entrepreneur and teacher, Byju Raveendran is also an expert sportsperson, active in six different sports. He played football, cricket, table tennis, and badminton at the university level. Popularly known as Byju sir among his students, Byju cleared CAT twice with 100 percentile. He never joined any IIM, though.
Divya Gokulnath
Divya Gokulnath – Co-founder, BYJU’S
An Indian entrepreneur and educator, Divya Gokulnath is the wife of Byju Raveendran and a co-founder and director at Byju’s. Divya was a student of National College Jayanagar and R.V College of Engineering, from where she completed her B.Tech in Biotechnology after which she decided to co-found Byju’s in 2011 with her husband.
Rachna Bahadur was appointed as the Senior VP of Byju’s on December 10, 2021, who will look after the overall planning, strategies, and roadmap of Byju’s both in new and existing markets. Rachna was previously a Partner at Bain & Company.
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Coming from Azhikode, a small village in Kerala, Byju Raveendran was an engineer with a shipping company based in the UK. While he was working, he started to help his friends prepare for the CAT exam, an entrance exam for getting into the best business schools in India. To test himself, Byju also gave the exam and secured 100 percentile! He did not join any of the IIMs but started teaching students for their mathematics exams.
Initially, he took mathematics workshops for free and then started charging a fee when he was confident about his prowess. At one point his workshops were so popular that more than 20000 students participated in one such workshop. In the year 2009, he started to record videos of the workshops he organized.
His former students who graduated from the IIMs encouraged him to start BYJU’s classes. ‘Think and Learn Pvt Ltd’ was then formed to create content for school students. He launched Byju’s – The Learning App in 2015, and the app was downloaded by more than 5.5 million people in the first year itself.
BYJU’s – Name, Logo, and Tagline
BYJU’s tagline is “Fall in love with learning“. Byju’s got its name from its founder’s first name.
Here’s the BYJU’S logo below:
BYJU’S Logo
BYJU’s – Business Model and Revenue Model
Byju’s works on a freemium business model wherein it offers customers both complimentary and paid (premium) services. The company asks the students to submit their details on its application or website and offers them a free 15 days trial. Once the free trial is exhausted, the student has to buy the courses from BYJU’s to access the complete content. The company provides one-to-one mentoring to its subscribers and also provides feedback to the child’s parents. BYJU’s also offers classroom coaching in Noida, Gurgaon, and some other areas.
BYJU’s generates revenue in three ways:
The first one is through the app. After the free trial of 15 days, students have to purchase the courses to continue their educational journey on BYJU’s. The app offers a variety of test series, courses, etc. which actually compels people to make the purchase.
BYJU’s offers electronic tablets that customers need to procure when they buy the course of their choice. This tablet has videos, tests, practice questions, quizzes, etc. pertaining to that course.
The third revenue generation mechanism is through classroom teaching. These classes are restricted to only a few cities.
In 2016, BYJU’s became the first Asian company to receive funding from the Chan-Zuckerberg Initiative, a philanthropic initiative by Facebook founder Mark Zuckerberg and his wife Priscilla Chan. It was back in 2018 when BYJU’s turned into a unicorn, becoming the first Indian edtech company to join the prestigious unicorn club of Indian startups.
During the funding round in March 2022, BYJU’s successfully concluded a round worth $800 million. Notable investors, including Sumeru Ventures, Vitruvian Partners, and BlackRock, infused $400 million, while the founder of BYJU’s, Byju Raveendran, contributed the remaining $400 million. However, the closing of this funding round faced challenges in July 2022 when Sumeru and Oxshott did not transfer their due amount of $250 million, citing macroeconomic reasons.
Byju Raveendran, the CEO of BYJU’s, holds approximately 25% of the company’s stakes, while Divya Gokulnath and the management team possess around 4% stakes.
In June 2021, BYJU’s secured a funding round that valued the edtech giant at $16.5 billion, surpassing Paytm as the most valued startup in India. This was followed by an increase in valuation to $22 billion in July 2022 after the successful funding round. However, in May 2023, BlackRock cut BYJU’s valuation by 62%, resulting in a new valuation of $8.4 billion. This followed a previous valuation cut to $11.5 billion by BlackRock, just one month earlier.
The table below covers BYJU’s funding details:
Date
Stage
Amount
Lead Investors
May 13, 2023
Debt Financing
$250 Million
Davidson Kempner
October 27, 2022
Debt Financing
$36.45 Million
Aakash Educational Services
October 17, 2022
Private Equity
$250 Million
Qatar Investment Authority
March 11, 2022
Private Equity
$800 Million
Byju Raveendran, Sumeru Ventures, Vitruvian Partners and BlackRock
November 8, 2021
Debt Financing
$1.2 Billion
–
October 4, 2021
Series F
$286.61 Million
Oxshott Capital Partners
September 8, 2021
–
$150 Million
Asmaan Ventures, Mirae Asset, ARK Ncore
June 21, 2021
Series F
$50 Million
IIFL and Maitri Edtech
June 12, 2021
Series F
$350 Million
UBS Group, Eric Yuan, Blackstone
March 29, 2021
Series F
$460 Million
MC Global Edtech Investment Holdings
September 8, 2020
Private Equity Round
$500 Million
Silver Lake
August 26, 2020
Venture Round
$122 Million
DST Global
June 26, 2020
Venture Round
$100 Million
Bond
January 9, 2020
Private Equity Round
$200 Million
Tiger Global Management
July 10, 2019
Venture Round
$150 Million
Qatar Investment Authority
March 22, 2019
Private Equity Round
$31 Million
General Atlantic & Tencent Holdings
December 11, 2018
Venture Round
$ 540 Million
Prosus & Naspers
August 2017
Corporate Round
$40 Million
Tencent Holdings
March 2017
Series F
$30 Million
Verlinvest
December 2016
Series E
$15 Million
IFC Venture Capital Group & InnoVen Capital
September 2016
Series D
$50 Million
Chan Zuckerberg Initiative & Sequoia Capital India
March 2016
Series C
$75 Million
Sequoia Capital India & Sofina
In March 2017, a case study on BYJU’s was featured in Harvard Business School’s curriculum. It is indeed one of the biggest achievements for any company from a non-monetary perspective, and that is when Byju’s started operating on a global platform.
BYJU’s – IPO
Byju’s is eyeing an IPO within the next 8-10 months. Byju Raveendran-led edtech unicorn is India’s second-highest valued startup, which has already been popular in the startup ecosystem for its fundraises and acquisitions and is currently looking for an IPO at over $16.8 bn. According to the further progress in the IPO of Byju’s the company has now decided to merge the special-purpose acquisition company (SPAC) of Churchill Capital, a global strategic advisory firm, and raise around $4 bn. Such an IPO round would value the company at over $48 bn, as per the reports of December 16, 2021. The BYJU’s IPO is set to be conducted in the next 18 months, as of July 7, 2022, at a valuation between $40-45 bn.
BYJU’s – Challenges faced by BYJU’s
As said by Byju Raveendran, the founder of BYJU’s, converting the students to paid subscribers after the free trial ends is a major challenge for BYJU’s. The company is also working towards expanding to other English-speaking countries, and finding suitable partners to assist with this expansion is the second challenge.
Byju’s Owing Money to BCCI
Byju’s, which has been the jersey sponsor for the Indian cricket team, allegedly owes nearly Rs 86.21 crore in dues to the Board of Control for Cricket in India (BCCI). These news reports have been rejected by Byju Raveendran’s wife and the Co-founder of Byju’s Divya Gokulnath, who have also pointed out that the cricketing board of India has also rejected such news.
It originally acquired the rights from OPPO, the smartphone manufacturing firm in 2019, and the last deal of the edtech major with BCCI expired in March 2022. However, both parties have agreed to extend their partnership in April 2022, which will continue till the 2023 ODI World Cup. The latest deal was worth $55 mn.
Byju’s Under Government Scanner for Misselling Courses
Byju’s has been identified by the Department of Consumer Affairs among the edtech companies that missell courses. Several edtech companies like Unacademy, UpGrad, Great Learning, WhiteHat Jr., and more joined the meeting with the India Edtech Consortium (IEC) on June 24, 2022, where they were drawn attention to the numerous consumer complaints against these companies, a large number of which were against Byju’s and its subsidiaries. Divya Gokulnath of Byju’s fame shared a detailed action plan to address consumer complaints. Besides, the most valued startup in India has also been advised to work with the Advertising Standards Council of India (ASCI) for the claims that it makes in its ads.
BYJU’s – Competitors/Alternatives
People are rapidly moving toward digitization and adopting e-learning because of this revolution, and many other companies with a model similar to BYJU’s are focusing on ed-tech. BYJU’s major competitors:
BYJU’s has acquired a total number of 19 companies to date. With a total of 10 acquisitions under its belt in 2021, Byju’s had spent over $2.4 Bn owing to its aggressive acquisition spree, which the company has embraced eyeing a unilateral market. Byju’s acquired GeoGebra, an Austria-based Math learning tool startup on December 8, 2021, in a deal that was later recorded at around $100 mn. Founded by Markus Hohenwwarter in 2001, GeoGebra fuses geometry, algebra, spreadsheets, graphing, statistics, and calculus on a platform that is easy to use and efficient. Besides, it boasts of having a community of 100 Mn+ learners across 195+ countries. As a platform, GeoGebra aims to make math learning fun and visually appealing. This acquisition will, thus, make Byju’s Math learning programs interesting and interactive.
Tynker was the last company that Byju’s acquired before this present acquisition on September 16, 2021. Byju’s previously acquired the e-learning app for competitive exam preparations, Toppr, and Edtech app, Great Learning on July 24, 2021, and then Whodat. Great Learning again acquired the recruitment automation company, Superset on February 28, 2022. Byju’s Great Learning acquired Northwest Executive Education on May 10, 2022, for around $100 mn, in a cash and stock deal. This acquisition would help both companies further their offerings to markets like India, the US, Europe, and Latin America.
Byju’s was in final talks of acquiring the online tutoring platform, Vedantu. The Edtech gianthad already displayed a vibrant year of acquisition so doubts were relatively lesser on the same. According to the reports, the Byju Raveendran-led company had already offered an amount of $700-800 millionfor the deal, which was pending necessary regulatory approvals. Vedantuhas been among the most prominent rivals of Byju’s, and if the deal fleshed out, it would have been another feather to the cap of Byju’s, being the fourth major acquisition of the companyso far. However, Byju’s acquisition of Vedantu was dismissed by the co-founder and chief executive of Vedantu, Vamsi Krishna, who said that any talks of merger or acquisition with Byju’s are “100% inaccurate,” as per the reports on August 6, 2021.
Though the Edtech major has reportedly reached out to Unacademy and Vedantu and offered them around $1 billion last year, none of the deals has materialized this year. However, Byju’s was then in talks to acquire Tynker, a coding platform for kids from the US. The talks were at their initial stage, with no confirmation of the figures of the deal, when reported on August 17, 2021. Byju’s has been ultimately successful in materializing yet another acquisition, where it has acquired Tynker on September 16, 2021, for $200 mn. Tynker Founder and CTO, Srinivas Mandyam has stated that the platform is so popular in the US that 1 in 3 schools already use it in the States. This will surely give Byju’s an extra edge for its expansion in North America. Byju coding class along with Tynker and WhiteHat Jr. is meant to be something big in the long run.
Possible Acquisitions Ahead for Byju’s
The Edtech decacorn is now looking to acquire Hello English, according to the news dated November 22, 2021, confirmed by sources close to the company. The sources on request for anonymity have also claimed that the deal will reportedly be valued at $25 mn. Furthermore, they added that the term sheet has already been signed.
Hello English [formerly known as CultureAlley] is an eight-year-old cloud-based language learning platform that extends the facility of learning multiple languages for users including English, Chinese, Portuguese, Turkish, Nepali, Indonesian, Thai, Arabic, Malay, Urdu, Malay, Bengali, Punjabi, Telugu, Tamil, Kannada, and more. The acquisition of Hello English would be a landmark step and will signal the foray of the Edtech tech into the language learning space.
Byju’s is also reported to be acquiring Superset and is currently involved in the late-stage conversation to finalize the terms, according to sources close to the companies on request of anonymity. Superset is a campus recruitment platform from Bangalore that aims to streamline the campus hiring process, thereby making placements an easy affair for colleges, universities, and companies. It is also alleged that the Superset founding duo, Naman Agrawal and Pranjal Goswami will also join Byju’s if the deal takes shape.
The Byju Raveendran-led edtech company might acquire 2U Inc, a NASDAQ-listed edtech firm for close to $1 bn, which might stand as the largest acquisition in the space.
Byju’s Completed Aakash Acquisition
Byju’s owned Aakash Institute back in January 2021, in a deal worth $1 bn, which was to be completed in June 2022, but the company is deferring the payment and have reportedly sought a two-month extension already, as per the reports dated June 29, 2022. Blackstone, which is Aakash’s main investor and others are to be paid partly in cash and partly in Byju’s stocks, as per the reports. Many other investors also received partial payments in 2021 as reported by the firm. The Byju’s-Aakash deal, which was billed as the largest deal in the history of the Indian edtech space, declared previously that after the deal, Aakash Chaudhry and the Chaudhry family, who are the owners of the institute would completely exit the company. On the other hand, Blackstone, which owns 37.5% of the institute would be paid in June 2022. However, Byju’s spokesperson has denied the reports of Bloomberg and mentioned that Byju’s acquisition of Aakash would be completed on the mentioned date, which is in August 2022. Byju’s declared that it has completed Aakash’s pending payment as per the reports dated July 4, 2022. Via a statement, Byju’s spokesperson mentioned the closing of the Aakash deal, and that the audited financial results will be announced in the next 10 days. However, it is revealed on July 12, 2022, that Byju’s has a pending payment of close to $200 mn to the US-based private equity giant Blackstone Inc., which reportedly needs to be paid by August 2022.
Here are the details of all BYJU’s Acquisitions:
Date
Company
About Company
Value
January 2017
Vidyartha
A customised learning guidance platform for K8-K12 students
$6.71 million
July 2017
TutorVista
Online tutoring services platform
Undisclosed
July 2017
Edurite
Audio-visual educational content provider
Undisclosed
July 2018
Math Adventures
A platform that aids kids to learn math in a fun way
Undisclosed
January 2019
Osmo
Platform offers educational courses with the use of games, videos and other materials
$120 million
August 2020
WhiteHat Jr.
Offers online coding classes to school-going students in India and the US
$300 million
September 2020
LabInApp
Offers lab-like simulations for science students on a mobile app.
Undisclosed
January 2021
Aakash Educational Services Ltd
Helps students get admission to engineering and medical schools by providing coaching for entrance exams
$1 Billion
February 18, 2021
Scholr
Mumbai-based Ai-enabled online education platform
$2.4 million
May 29, 2021
HashLearn
Online coaching platform for competitive exams
Undisclosed
July 13, 2021
Gradeup
India’s largest online exam preparation website
Undisclosed
July 13, 2021
Toppr
Online learning app offering training in JEE Main, NEET, JEE Advanced, CBSE and other school exams
Undisclosed
July 21, 2021
Epic
California-based reading application that focuses on books, eBooks, learning, and educational technology
$500 million
July 24, 2021
Great Learning
Edtech platform that offers career-relevant courses from world-class universities
Undisclosed
August 4, 2021
Whodat Tech
A spatial mapping, computer vision and augmented reality startup based out of Bangalore
Undisclosed
September 16, 2021
Tynker
Tynker is a US-based coding platform that empowers kids to learning programming and code.
$200 million
December 8, 2021
GeoGebra
GeoGebra is a Austria-based math learning platform that aims to empower math learning and make it easy and interactive.
$100 mn
BYJU’s – Growth and Revenue
BYJU’s as a startup is pretty innovative and has garnered massive success in the market. It follows rigorous advertising strategies. The company has captured the Indian market and has established its presence in the Middle East as well. BYJU’s intends to expand to the United States, the United Kingdom, South Africa, and other global markets. To expand its footprints in the USA, BYJU’s acquired US-based learning platform Osmo in January 2019. The company also tied up with Disney to launch an early learning app for classes 1-3.
BYJU’s was also in the news recently as it took a positive step during the coronavirus crisis. Since schools in different parts of India were shut down due to the coronavirus outbreak, BYJU’s made its learning app free for the students till the end of April 2020 so that students could enjoy uninterrupted learning.
BYJU’s Collaborated with NITI Aayog
Byju Raveendran-led Edtech giant partnered with the Indian government’s public policy think tank. This partnership aimed to foster a quality learning experience through tech-driven learning programs, which will be extended to children across 112 “aspirational districts” of the country. The “aspirational districts”, as mentioned, are the most developmentally challenged regions of the country across sectors like health, nutrition, education, agriculture, skill development, water resources, infrastructure, and more.
This partnership will also be responsible for setting a dedicated working group up to monitor and evaluate the implementation of the program in full, according to a statement released on September 17, 2021.
This collaboration will be comprised of 2 main components:
Byju’s Career Plus program will offer high-quality coaching to around 3000 students of Classes 11 and 12, who are aspiring to appear for NEET and JEE.
Another voluntary program will allow school-going children between Classes (6-12) to avail themselves of scholastic content from Byju’s Learning App for 3 years, as per the social impact initiative undertaken by the edtech giant named, Education for all.
On this, Byju’s Founder and CEO, Byju Raveendran said,
“Through our ‘Education for All’ programme, we have been empowering and impacting millions of children across the country, and by partnering with NITI Aayog, our efforts are being strengthened further.”
Byju’s to launch a new edtech business in the MENA region
Byju’s has partnered with Qatar Investment Authority (QIA) to launch a new edtech business and R&D centre in Doha, Qatar. The entity that will be built as a result of the deal, is expected to drive research and innovation and create cutting-edge learning solutions that will be personalised for the Middle East, and North African students, those who belong to the MENA region.
The CEO and Founder of Byju’s, Byju Raveendran, and the CEO of QIA, Mansoor Al-Mahmoud, have signed an MOU in the presence of the Deputy Prime Minister and Foreign Minister of the State of Qatar and chairman of QIA, Sheikh Mohammed Bin Abdulrahman Al-Thani, and the representatives of BYJU’S, in the recent 2022 Doha Forum.
Furthermore, BYJU’s aims to identify and provide test preparation coaching to 3,000 meritorious students of classes 11 and 12, who aspire to appear for NEET and JEE, with the help of the Aakash+BYJU’S Career-Plus program. Additionally, the Edtech giant will also offer academic content with the help of BYJU’S Learning App for the school children studying in classes 6-12 standards for three years, under its social impact initiative called ‘Education for All’.
BYJU’s Revenue
Although BYJU’s has not yet disclosed its financial numbers for FY22, the company has claimed that it achieved approximately Rs 10,000 crore in gross revenues during that fiscal year. However, according to the annual financial statements filed with the Registrar of Companies (RoC), BYJU’s operating revenue showed a modest growth of only 4% to Rs 2,280 crore in FY21, compared to Rs 2,189 crore in FY20. In contrast, the company experienced a significant surge in losses, which increased nearly 15 times to Rs 4,564 crore in FY21, as compared to Rs 305 crore in FY20.
Byju’s has started offering a hybrid model where the students can embrace physical/offline education centers for their classes, as of October 2021. The all-new hybrid model of education has already been kickstarted, the success of which would make the Edtech startup scale it up around the nation. The hybrid learning centers would be dubbed, “BYJU’S Learning Centre” and would initially concentrate on Physics, Chemistry, Biology, and Mathematics.
Byju’s appears to have come full circle. This is because after switching to the online mode of learning, acquiring companies, garnering fame, and becoming India’s most valued edtech startup, it is now planning to launch its offline coaching center, which would be named Byju’s Tuition Center (BTC), and would pave for its foray into blended/hybrid learning. This new initiative is planned to benefit the students between Classes (4-10) and has prominently scaled this far mainly after the acquisition of Aakash Educational Services.
BYJU’s – Partnerships
Byju’s is known as the BCCI partner and will be remaining on the jersey of the Indian cricket team as it renewed its sponsorship with the Indian cricketing board for the upcoming 18 months at a deal price of around $55 mn. The new term of Byju’s started after the end of India’s South Africa tour. The Byju’s-BCCI partnership was extended until the ODI World Cup 2023.
The edtech giant’s contract ended in March 2022, post which it applied for the extension. Byju’s bought the rights of IPL sponsorship from Oppo in 2019. Some other prominent partnerships of Byju’s include:
Byju’s and Google Partnered to offer a “Learning Solution” for schools.
Byju’s collaborated with NITI Aayog to extend free education in 112 districts.
Byju’s partnered with Intel to invest in and enhance student-teacher relationships.
The edtech giant collaborated with Akshaya Patra Foundation to help needy students get smart classrooms.
BYJU’s – Lay Off
In October 2023, BYJU’S laid off about 600 workers from its marketing and content departments. Under the direction of new India CEO Arjun Mohan, the ailing edtech behemoth is currently undergoing restructuring, which includes layoffs.
BYJU’s – Future Plans
Byju’s is currently planning to focus more on the Byju’s Tuition Center (BTC) by investing up to $200 mn on the same over the next 12 to 18 months, as of February 2022. Signing up around 1 mn students for this model is the aim of Byju’s over the next 2 years. The Byju Raveendran-led edtech giant is currently running this product as a pilot in around 23 cities and 80 centers and is willing to take the same to 500 centres across 200 cities by the end of 2022. Byju’s is also looking forward to a public listing ahead in the next 18 months. It is also looking to acquire prominent companies like the NASDAQ-listed 2U Inc.
FAQs
When did BYJU’s Start?
BYJU’s was founded in the year 2011.
What is BYJU’s Tagline?
BYJU’s tagline is “Fall in love with learning“
Why is BYJU’s Successful?
BYJU’s functions on a Freemium Business Model. The approach of BYJU’s in providing knowledge with highly creative visual content, one-on-one learning, and other facilities has led to its success. BYJU’s has been able to rightly blend technology and knowledge to impart knowledge to today’s generation.
Who is the Owner of BYJU’s?
Byju Raveendran founded BYJU’s in 2011. Think and Learn Private Ltd is the parent organization of BYJU’s.
Who is Byju Raveendran’s wife?
Byju Raveendran’s wife is Divya Gokulnath, who is an entrepreneur, and educator along with being the Co-founder and Director at Byju’s.
What is the Byju’s learning app?
The Edtech giant boasts of the BYJU’S Learning App, which is designed to offer academic content for school-going children ranging from class 6 – 12 for three years. This has been decided under its social impact initiative ‘Education for All’.
How much is BYJU’s Revenue?
BYJU’s operating revenue showed a modest growth of only 4% to Rs 2,280 crore in FY21, compared to Rs 2,189 crore in FY20.
Who are the competitors of BYJU’s?
BYJU’s major competitors are Meritnation.com, Vedantu, Teachable, Khan Academy, Simplilearn, Schoolwise, and Toppr.
How to become a teacher in Byju’s?
Becoming a teacher in Byju’s is not as hard as you think. To become a teacher, firstly, you need to record a video of yourself where you will have to teach any concept in front of the camera for around 15 minutes. Next, you need to record another clear video of yourself where you will have to solve 2 questions papers of the subject grade that you have applied for.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by AppDirect.
These days, subscription commerce is on the rise. When it comes to business, subscriptions for B2B software and services are growing significantly. As per statistics, the market size for these ‘anything as a service product, like SaaS, PaaS, IaaS, and many other solutions, is expected to reach $344.3 billion by 2024, at a CAGR of 24%.
B2B subscription commerce is known to cover all technology and business operations that power the sales of digital products repeatedly. AppDirect is a top-ranked US-based company offering a robust B2B subscription commerce platform.
This article discusses AppDirect’s startup story, founders, funding, investors, challenges, awards, and more.
AppDirect is a San Francisco-based company offering a B2B subscription commerce platform to bring together businesses, technology providers, and advisors for simplifying selling, buying, and managing recurring technology services.
Operating in North America, South America, Australia, Canada, India, Europe, and many other locations, the company currently serves over 1,000 providers, 10,000 advisors, and 5 million subscribers to power their innovation, growth, and success. AppDirect is trusted by leading brands, including Deutsche Telekom, Microsoft, ADP, Google, and Jaguar Land Rover.
AppDirect – Founders and Team
Nicolas Desmarais, Daniel Saks, and Andy Sen founded AppDirect in 2009.
Nicolas Desmarais
Nicolas Desmarais – Co-Founder, Chairman, and CEO of AppDirect.
Nicolas Desmarais completed a bachelor’s degree in Economics and Political Science from Amherst College. He worked as an Intern and Associate Consultant at Bain & Company. Currently, he is the Co-Founder, Chairman, and CEO of AppDirect.
Daniel Saks
Daniel Saks – Co-founder, President, and Co-CEO of AppDirect
Daniel Saks attended McGill University for BA in Political Science and Harvard University for a Master of Liberal Arts in Management 9 Finance and Accounting). He co-founded AppDirect and has been its President and Co-CEO.
At present, aside from being the company’s President and Co-Founder, he is the Host of a new podcast- Decoding Digital.
Andy Sen
Andy Sen – Co-founder and CTO of AppDirect
Andy Sen completed BS in Computer Science from Georgia Institute of Technology. He has diverse work experience as a Senior Engineer at Arc Worldwide, Senior Product Manager at Waltmart.com Global Initiative and Salesforce, and Director of Product Management at Serena Software.
He has been the full-time Co-founder and CTO of AppDirect Since March 2010.
AppDirect is a team of over 720 employees.
AppDirect – Startup Story
In 2009, Nicolas Desmarais and Daniel Saks spent the summer together and noticed a few trends. One trend that caught their attention was a shift to digital or software as a service that could change how people commence and manage their businesses. During that period, businesses were struggling because of the global recession.
So, Desmarais and Saks saw those macro trends and brainstormed how they could enable big and small businesses to access this new way of doing business. They established AppDirect in 2009 out of an apartment in San Francisco at the age of 23.
The company spent the first three years bringing an individual around that value proposition to the first customer, then selling and launching them. At present, AppDirect has millions of users.
AppDirect – Mission and Vision
AppDirect’s mission is to make technology universally accessible for every real business and individual to thrive in the digital economy.
AppDirect – Business Model
AppDirect offers access to a subscription commerce platform allowing companies to sell physical or digital products via any channel or platform as a service. The platform powers all direct or indirect sales while combining identity, mobile, data, and billing management for digital services.
Users can also sell their services and third—party services via AppDirect’s commerce platform. In addition, the platform allows enterprises to include add-ons, bundle services, customize prizes, and offer sales promotions.
AppDirect has three pricing plans– ‘AppDirect Starter,’ ‘AppDirect Professional,’ and ‘AppDirect Enterprise.’
The ‘AppDirect Starter’ price plan is offered for $799/month to mid-size companies with monetizing referral business. Mid-size companies selling technologies can access the ‘AppDirect Professional’ pricing plan for $1,499/ month + Transaction Fees. The ‘AppDirect Enterprise’ is offered at custom pricing to large companies selling technology.
Plan
Pricing
AppDirect Starter
$799 USD Per Month
AppDirect Professional
$1499 USD Per Month + Transaction Fees
AppDirect Enterprise
Custom Pricing
AppDirect – Products and Services
AppDirect’s platform offers the following mentioned services, categorized into Digital Monetization and Digital Procurement capabilities:
B2B Marketplace
Partner Relationship Management
Cloud Distribution
Subscription Billing
Device Application Management
Digital Engagement Capabilities
Proceurement Marketplace
Spend Management
Advisory Services
Workplace Identity & Data Management
Subscription Commerce 101 e-book
Moreover, the company offers multiple solutions, such as Software as a Service, Infrastructure as a Service, Managed Services, Third Party Digital Services, and Customer Support Services.
AppDirect – Challenges Faced
Initially, co-founders found it challenging to get big customers for the company as it takes around a year’s sales cycle to close them.
The Cloud Commerce Ecosystem: Challenges and Opportunities
AppDirect – Funding and Investors
AppDirect has raised approximately $474.5 million in a total of 8 funding rounds. Its latest funding round – Debt Financing, was conducted on March 19, 2021, and raised $54.8 million. Some leading company investors are Investissement Quebec, JP Morgan Chase, Mithril Capital Management, Inovia Capital, and more.
AppDirect has 13 registered patents with the ‘Computing; Calculating’ main category and 13 trademarks with ‘Scientific and Technological Services,’ the most popular class.
AppDirect – Growth
The estimated annual revenue of AppDirect in 2022 is $65 million ($89,779 revenue per employee), with its current valuation at $1.5 billion.
AppDirect – Partners
AppDirect has 64 partners, of which 45 are technology partners, and 19 are channel partners:
AppDirect is a San Francisco-based company offering a B2B subscription commerce platform to bring together businesses, technology providers, and advisors for simplifying selling, buying, and managing recurring technology services.
Who founded AppDirect?
Nicolas Desmarais, Daniel Saks, and Andy Sen founded AppDirect in 2009.
What are the pricing plans offered by AppDirect?
AppDirect has three pricing plans- AppDirect Starter, AppDirect Professional, and AppDirect Enterprise.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Anyscale.
Since the last few years, the demand for machine learning engineers has exploded significantly. Moreover, IDC estimates that the amount of data created and copied in a year will reach 175 zettabytes by 2025.
The higher demand for expert resources, along with the astronomical rise of data, implies that several companies will be unable to leverage advanced technologies such as machine learning without the right tools and applications at their disposal.
As artificial intelligence usage is increasing and pressurizing computing power, technologists have split the workload from a single computer to thousands of machines, an approach called ‘distributed computing.’ However, building and maintaining distributed infrastructure is complex, requiring at least 5-10 engineers who are experts in distributed computing.
It is when Anyscale comes to the rescue. This AI-based company is the future of the distributed computing industry. It allows developers to easily develop distributed applications, effectively increasing the level of the playing field. Consider reading this article to learn about Anyscale, its startup story, founders, funding, business model, growth, and more.
Anyscale is a fully-managed, enterprise-ready unified compute platform that enables companies to build, deploy, and manage AI and Python applicationswith the help of Ray. By leveraging the company, developers of any skill level can easily build applications running at any scale, from a laptop to a data center, at lower costs.
Located in San Francisco and Berkeley, Anyscale serves developers at industry leaders such as OpenAI, Uber, Microsoft, Intel, Ant Financial, Amazon, and Shopify.
Anyscale – Founders and Team
Robert Nishihara, Ion Stoica, and Philipp Moritz founded Anyscale in 2019.
Anyscale Founders – Robert Nishihara, Ion Stoica, and Philipp Moritz
Robert Nishihara
Robert Nishihara attended Harvard University to complete a BA in Mathematics and the University of California, Berkeley, for a Doctor of Philosophy (Ph.D.) in Computer Science.
He worked as Software Engineer/Developer Intern at Google and JaneStreet; Research Intern at Microsoft Research and Facebook. Later, he co-founded Anyscale and is the company’s CEO.
Ion Stoica
Ion Stoica attended Polytechnic University Bucharest to complete an M.S. in Computer Science and Control Engineering and Carnegie Mellon University to study Ph.D. in Electrical and Computer Engineering.
In addition to co-founding Anyscale, he is also a Co-Founder of Conviva and Databricks. Ion is also a Professor in the EECS Department at UC Berkeley and Co-Director at AMPLab.
Philipp Moritz
Philipp Moritz went to the University of Cambridge to study Master of Advanced Study in Mathematics and University of Berkely for a Doctor of Philosophy (Ph.D.) in Computer Science. Currently, he is the Co-Founder and CTO of Anyscale.
Any scale is a team of approximately 290 employees.
Anyscale – Startup Story
Robert Nishihara, Philipp Moritz, and Ion Stoica realized that organizations struggle to get value from Artificial Intelligence. Any scale originated from Ray, which is a free, open-source project undertaken in the UC Berkeley RISELab. This project came from the co-founders’ experience with the scaling challenges around machine learning and AI.
Nishihara, Mortiz, and Stoica witnessed strong adoption of Ray in the developer community and came up with the idea of establishing Anyscale- a fully managed platform for Ray. In 2019, the project was first developed in the predecessor AMPLab at UC Berkeley. With the funding announcement, the startup made its product available to the general public for the first time.
Anyscale – Mission and Vision
Anyscale’s mission is to enable every developer and team to succeed with AI without worrying about building and managing infrastructure. To make it possible, the company aims to eradicate distributed systems expertise from the critical path of realizing AI’s business potential.
Anyscale simplifies distributed programming with the power of Ray. Applications developed using Ray can be quickly scaled, which eliminates the need for in-house distributed computing expertise and resources. Any scale is cloud agnostic, and users are allowed to start their application on one cloud and deploy to the other. Moreover, the platform is supported by a rich ecosystem of libraries and applications, which removes the barrier to entry for developing scalable distributed applications.
Anyscale – Products and Services
Anyscale – Solutions
The company offers two products- Anyscale Platform and Ray Open Source, along with multiple solutions, including Data Ingestion, Reinforcement Learning, Model Serving, Ray AIR, Hyperparameter Tuning, Scalable ML Platforms, NLP, and more.
Anyscale – Funding and Investors
Anyscale has undertaken 4 funding rounds, raising $259 million. Its latest funding round was raised on August 23, 2022, from Series C Round and collected a total amount of $99 million. The company is backed and advised by 11 leading names in the industry, including Andreessen Horowitz, New Enterprise Associates, Addition, Intel Capital, and many more.
Date
Round
Number of Investors
Money Raised
Lead Investor
August 23, 2022
Series C
4
$99 million
Addition Capital, Intel Capital
December 7, 2021
Series C
5
$100 million
Andreessen Horowitz, Addition Capital
October 21, 2020
Series B
4
$40 million
New Enterprise Associates
December 17, 2019
Series A
8
$20 million
Andreessen Horowitz
Anyscale – Patents and Trademarks
Anyscale is registered with 3 trademarks, the ‘Scientific, Electric Apparatus, and Instrument’ the most popular category.
Anyscale – Growth
The estimated annual revenue of Anyscale in 2021 is $45.1 million ($157,867 per employee). In December 2021, the company’s valuation was $1 billion. Furthermore, its employee count grew by 101% last year, and the monthly web visits rose to 55,699 with an 18.62% growth rate.
Keynote: Anyscale Product Demo – Edward Oakes, Software Engineer, Anyscale
With distributed computing growing faster, Anyscale plans to bring Ray to more enterprises that can benefit from its capabilities.
FAQs
What does Anyscale do?
Anyscale is a fully-managed, enterprise-ready unified compute platform that enables companies to build, deploy, and manage AI and Python applications with the help of Ray.
Who founded Anyscale?
Robert Nishihara, Ion Stoica, and Philipp Moritz founded Anyscale in 2019.
Who are the main competitors of Anyscale?
The following are some main competitors of Anyscale:
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Anduril.
U.S. defense is an enormous and growing market. In 2020, the U.S. spent around $778 billion on defense, with the Department of Defense contract obligations worth $448.7 billion. The growth of the country’s defense market is estimated to reach $629.93 billion by 2030 at a CARG of 0.67%. Currently, the U.S. defense industrial base includes over 200,000 companies.
With significantly changing battlefields and evolving security threats, the pressure is rising on U.S. defense firms to remain at the forefront of global defense technology. The U.S. defense industry needs to come up with advanced cyber, A.I., hypersonics, anti-satellite, hybrid warfare weapons, and more.
Anduril is one such A.I. product company that puts products ahead of the process and develops technology for defense, law enforcement, and border security applications. This article covers everything about Anduril, how it started, its mission, founders, funding, growth, and more.
Anduril – Company Highlights
Company Name
Anduril
Headquarters
Costa Mesa, California, United States
Sector
Defense Technology and Communication
Founders
Palmer Luckey, Brian Schimpf, Trae Stephens, Matt Grimm, and Joseph Chen
Anduril Industries, or Anduril, is a military technology company specializing in designing and developing hardware and software applications for monitoring risk and enhancing surveillance. The company’s offerings enable security awareness, inspection and Intelligence solutions, multi-domain launch capability, and surveys across land, air, and sea.
Having its presence in the United States, the United Kingdom, Atlanta, and Australia, Anduril serves the U.S. military, border security, navy, defense, and other commercial agencies and customers.
Palmer Luckey is the founder, and Brian Schimpf, Trae Stephens, Matt Grimm, and Joseph Chen are co-founders of Anduril.
Palmer Luckey
Palmer Luckey – Founder, Anduril
Palmer Luckey is an American entrepreneur best known as the Founder of Oculus V.R. and Anduril Industries. Moreover, he worked as the Designer of the Oculus Rift.
Brian Schimpf
Brian Schimpf – Co-founder and CEO, Anduril
Brian Schimpf graduated from Cornell University with B.Sc. in Operations Research. He has been the Cornell DARPA Urban Challenge Team developer and Director of Engineering at Palantir Technologies. Currently, he is the Co-founder and CEO of Anduril.
Trae Stephens
Trae Stephens – Co-founder and Executive Chairman, Anduril
Trae Stephens has completed B.S. in Regional and Comparative Studies from Georgetown University. Presently, he is the Co-founder of Sol, Pursuit, and Anduril. Moreover, he is Anduril’s Executive Chairman and Partner at Founder Fund.
Matt Grimm
Matt Grimm – Co-founder and COO, Anduril
Matt Grimm attended Cornell University and completed B.Sc in Mechanical and Aerospace Engineering and M.Eng in Systems Engineering. He has been the Forward Deployed Engineer at Palantir Technologies, Principal at Mithril Capital Management LLC, and Advisor & Board Observer at Classy.org.
At present, he is working as Anduril’s CO-founder and COO.
Joseph Chen
Joseph Chen – Co-founder, Anduril
Joseph Chen is Anduril’s Co-founder. He was the Product Lead at Oculus V.R. and worked on A.R. handset technology at Epson. Recently, he launched a V.R. content production studio named Here Be Dragons.
Anduril is a team of over 1,000 inventors, builders, makers, and problem solvers.
Anduril – Startup Story
In June 2017, Anduril, along with former Palantir Technologies executives Trae Stephens, Matt Grimm, Brian Schimpf, and early Oculus V.R. Hardware Lead Joseph (Joe) Chen, founded the autonomy-focused defense technology company named Anduril Industries.
Anduril began a pilot program for America’s government in March 2018. The program was about detecting human trafficking and drug smuggling on the southern border of America’s remote areas. 55 attempted entrants were caught in its first 12 days in operation. Later, the company won the Autonomous Surveillance Tower Program of Record, which resulted in the deployment of hundreds of Anduril security towers.
In September 2020, Anduril received a contract worth $967 million for the Advanced Battle Management Systems (ABMS) from the U.S. Air Force. Moreover, on May 4, 2022, Anduril and the Australian military entered into commercial negotiation for a $100 million, co-funded program to design, develop, and manufacture extra large autonomous undersea vehicles (XL-AUVs) for the Royal Australian Navy.
Anduril – Mission and Vision
Anduril’s mission is to transform defense capabilities with advanced technologies.
Anduril – Business Model
Anduril leverages A.I. and computer-vision operating systems for connecting intelligent devices and hardware assets. Its surveillance and defense systems find and track a human intruder over a wide area with little human input.
With Lattice governing all intruder-detection systems, they detect the motion, scan with a camera, and utilize computer-vision algorithms to determine whether the intruder is a vehicle, animal, or human. Moreover, Anduril provides high-powered ‘interceptor’ drones to detect and destroy drones.
Anduril – Products and Services
Anduril’s offerings include Sentry Towers, Drones (Ghost, ALTIUS, Anvil), Sensors (WISP, Dust), Menace, and Autonomous Underwater Vehicles (Drive-LD). Moreover, it provides access to Lattice- an open operating system for defense.
Anduril – Funding and Investors
Anduril has undertaken 6 funding rounds to raise a total amount of $2.2 billion. Its latest funding round – Series E Round, was conducted on December 2, 2022, and raised $1.5 billion. Some recent company investors are Valor Equity Partners, Founders Fund, Andreessen Horowitz, Lux Capital, Elad Gil, MVP Ventures, and Lightspeed Ventures.
Date
Round
Number of Investors
Money Raised
Lead Investor
December 2, 2022
Series E
17
$1.5 million
Valor Equity Partners
July 17, 2021
Series D
18
$450 million
–
July 1, 2020
Series C
8
$200 million
Andreessen Horowitz
September 11, 2019
Series B
9
–
Founders Fund, General Catalyst
June 11, 2018
Series A
5
$41 million
Founders Fund
August 11, 2017
Seed Round
4
–
Founders Fund
Anduril – Mergers and Acquisitions
Anduril acquired three defense startups- Dive Technologies in February 2022, Copious Imaging in September 2021, and Area-I in January 2021.
Anduril Welcomes Dive Technologies
Anduril – Patents and Trademarks
Anduril’s intellectual property comprises 29 registered patents with ‘Aircraft; Aviation; and Cosmonautics’ as the primary category. The company has 8 registered trademarks, with ‘Scientific and Technological Services’ being the most active class. Additionally, the company has achieved AS9100 certification.
Anduril – Growth
The estimated annual revenue of Anduril was $445.8 million per year ($435,354 per employee), with a $8.5 billion valuation in 2022. Moreover, its monthly web visits grew by -31.51%, with 77,704 visits. And employee count rose by 63%.
Palmer Luckey is the founder, and Brian Schimpf, Trae Stephens, Matt Grimm, and Joseph Chen are co-founders of Anduril.
What does Anduril do?
Anduril is an A.I. product company that puts products ahead of the process and develops technology for defense, law enforcement, and border security applications.
Yash Gupta
