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  • Vitto by Microfinance.AI: The New Age Bridge Between Lenders and Borrowers

    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 Vitto.

    Vitto by Microfinance.AI is an AI-powered mobile platform featuring simple-to-use customer onboarding and screening processes. It provides product management tools in a secure and safe environment. The platform addresses language gaps with the help of a voice-assisted user interface and uses speech-to-text technology for app inputs.

    Vitto with its a mobile-first solution, where micro-lenders can entirely rely on them to bring their low-literate and local-language-preferring users onto the digital platform and offer bundled financial services in a fraction of the time.

    Vitto offers micro-lenders a dedicated web dashboard to manage borrower relationships, a proprietary credit scoring model based on relevant alternate data sourced by the platform for enhanced underwriting, and an early warning on credit performance. It acts as an end-to-end loan operation management for any micro-credit lender. In addition, the platform enables a simple integration of value-added products such as digital micro-insurance to increase revenue streams. Microfinance.AI-Vitto mobile platform can be linked with any back-end software and can be operated as a full-service loan management platform.

    Vitto – Company Highlights

    Startup Name Microfinance.AI-Vitto
    Headquarters New Delhi, India
    Sector Micro-Finance
    Type Private
    Founder Swati Sinha and Kapil Patil
    Founded 2019
    Website vitto.money
    Legal Name Uthaan Technologies Pvt Ltd

    Vitto: Vision and Mission
    Vitto: Market and Industry Details
    Vitto: Idea and Starting up
    Vitto: Product and Services
    Vitto: USP
    Vitto: Founders and Team
    Vitto: Logo and Tagline
    Vitto: Business model and Revenue model
    Vitto: Launch
    Vitto: Challenges and Achievements
    Vitto: Funding
    Vitto: Products/Services
    Vitto: Awards and Recognition

    Vitto: Vision and Mission

    Microfinance.AI-Vitto‘s solution is targeted with a vision to reduce poverty in the long run. In a developing country like India, millions of people are denied access to basic financial services like credit, insurance, and savings. Because of the lack of these, people are forced to live an excluded life and find it difficult to come out of the poverty trap. Microfinance.AI-Vitto has helped its customers to come out of poverty, start their own businesses and generate a source of income for their families.

    Microfinance.AI-Vitto is bridging the gap between lenders and borrowers of micro-credit. Micro-credit borrowers who are availing credit from micro-credit lenders, credit co-ops, and group lenders cannot transact digitally because they possess a low level of literacy, are less tech-savvy, and are more concerned about safety. Traditional FinTech platforms are not built for them.

    Vitto: Market and Industry Details

    Developing countries have substantial credit gaps among their low and middle-income groups. In India alone, the credit gap in Micro, Small and Medium enterprises is as high as $300 billion. India’s micro-credit market has currently reached more than 150 million borrowers through micro-finance institutions, women’s self-help groups, and credit co-ops with a market size of $50 billion.

    India aims to become a US$ 5 trillion economy by 2025 and the microfinance industry will play a significant role in uplifting the lives of millions of low-income households and enabling them to contribute to the country’s economic growth.

    The microfinance industry registered a 5% Y-o-Y growth during the year 2021-2022 and is expected to grow by more than 40% by 2025, predominantly on account of the increasing demand from the MSME sector. A huge market size, low penetration rates, and high growth rate make this industry an attractive investment area.

    The future growth of this industry is assumed to be aided and propelled by the rapidly increasing smartphone penetration (6% growth forecasted in rural smartphone users by 2026) and the growing popularity of the digital world.

    With the rise of the millennials and the mobile-first generation, traditional financial institutions need to take into consideration the constantly changing demographics and behavior of users. Since Covid, the gig economy has been witnessing an accelerated growth. Given the rise in the number of gig workers, there has been a dynamic shift in consumer demographics and behavior. The unstable nature of gig jobs will eventually render traditional credit scoring models inadequate. Deeper longitudinal data on worker lifestyle and behavior will be required to develop alternative credit scoring models.

    Hyper-personalization of financial services has been the current talk of the Banking sector. Data analytics is required to deliver such personalized services to users. This personalization will not just be about the next best offer but will also anticipate consumer needs and provide them with the relevant nudge. The industry will focus on harnessing digitization and building high-tech models to serve consumer needs.

    Vitto: Idea and Starting up

    Founders have worked in the finance domain for more than 7 years with the most under-served sections of society. In those years They saw the challenges faced by the people in order to access basic financial services like opening a savings account, taking a small loan, or having their insurance money claimed.

    Personally working in a finance company. They were managing more than 50k clients who belonged to very poor and marginalized categories. For a small company, it is very difficult to address the operational gaps as most of the work is manual and the software which is being used is very old and inefficient. This was Vitto’s founder’s inspiration to work in the direction of solving the real challenge of inaccessibility.

    We have interacted with most of the providers of credit in the industry, and their leadership teams and wanted to understand the major pain points faced by them and their customers. After discussing with them our idea of the proposed intervention got more clarity as we understood that technology was not their core area of expertise and with their limited resources it is not possible for them to explore various options. They ultimately end up using poor services so what we are building can be a major disrupter.– Swati Sinha (Founder & Director,Vitto)

    Vitto: Product and Services

    Developing countries have substantial credit gaps among their low and middle-income groups. In India alone, the credit gap in Micro, Small and Medium enterprises is as high as $400 billion. India’s micro-credit market has currently reached more than 150 million borrowers through micro-finance institutions, women’s self-help groups, and credit co-ops with a market size of $50 billion. However, this segment continues to face a huge credit crunch and most micro borrowers end up taking credit from informal segments. Sometimes, they even fall into a debt trap.

    Another problem in this industry is that most of its services are still delivered through a physical network of agents. This high-touch model leads to:

    A. Higher cost of services

    B. Lack of systemic data to avail higher ticket loans

    C. Inability to deliver added financial services such as insurance and saving.

    Vitto is bridging the gap between lenders and borrowers of microcredit. Microcredit borrowers who are availing credit from micro-credit lenders, credit co-ops, and group lenders cannot transact digitally because they possess low levels of literacy, are less tech-savvy, and are more concerned about safety. Conventional FinTech platforms are not built for them.

    The platform “Vitto” simplifies the entire microfinancing experience for its users. Vitto’s AI-powered mobile platform simplifies customer onboarding and screening. For lenders, Vitto’s web dashboard provides complete information on the profile of the borrowers, their credit scores, and a warning of a possible default on their loans.

    Vitto: USP

    Microfinance.AI-Vitto platform is a customer-centric platform that prioritizes customer experience. Vitto has built its platform to support multiple languages to address the language barriers faced by low-literate customers. They have also added an AI-powered speech-to-text in the local language so that borrowers need not type while using the platform.

    Through Vitto’s app, They provide access to credit to new-to-credit customers and thin-file customers. Vitto provides customers who have no access to banks or formal institutions a platform to meet their financial requirements. They have also educational videos to improve the financial literacy of their customers.

    Vitto aims to establish a synergy with microfinance institutions, which specifically want to reach out to the underserved and unserved, using technology.

    Vitto is ideating to create an Alternate Credit Scoring Model which has not been done by anyone yet. The credit scoring will be like a normal CIBIL score but as the customers of MFIs don’t have online footprints or are not regular customers of formal financial institutions, the alternate score will be highly innovative.

    Traditional technology providers present in the market charge a heavy subscription fee and a high annual maintenance cost as well. But Vitto is targeting to reach them with a “Pay as You Grow” model in which there is a relatively less burden.

    Vitto: Founders and Team

    Kapil Patil and Swati Sinha met each other during their first assignment after college. They both joined a world bank project in Orissa. The project was related to financial inclusion and livelihood management. They worked for more than a year and came to know each other closely.

    Founders: Vitto-Microfinance.AI
    Founders: Microfinance.AI-Vitto

    They both developed an inclination toward solving this unmet demand for finance for the poor and deprived sections of society. Both of them belong to small towns and are from medium-income bracket family.

    Both founders have been working passionately and tirelessly for their mission. Kapil Patil looks after the business and product development while Swati Sinha is focused on gaining capital for business expansion and hiring.

    Vitto-Microfinance.AI- Team
    Microfinance.AI-Vitto– Team

    The current company size is 15 full-time people and the main hiring funda is to hire a good talent who is not only looking for a high-paying role but also has some passion to innovate.

    Vitto: Logo and Tagline

    Logo: Vitto-Microfinance.AI
    Logo: Microfinance.AI-Vitto

    Founders always have in mind how we can create a product exclusively for the people who belong to the underserved section and are often missed out. So we went with ‘Vitto’ as the brand name because it depicts Vitt meaning finances and we also want to solve the problem of inaccessibility of finance.

    Vitto: Business model and Revenue model

    Microfinance.AI-Vitto operates in a B2B model where they have partnered with micro-lenders who will use Vitto’s digital platform to onboard and manage their borrowers. In addition, Vitto’s mobile platform – “Vitto” (available on Google Playstore) directly sources digitally connected customers on behalf of their micro-lending partners. The company charges an initial setup fee while partnering up with institutions. Apart from this, continuous revenue stems from the commission charged on loan applications and processing repayments through the Vitto platform.

    Microfinance.AI-Vitto immediate revenue sources:
    Signup cost with corporate partners
    Co-Lending: Interest income in the range of 12% – 14%
    Loan Sourcing Fee: Loan sourcing fee at 1% – 2.5% (one time)
    Repayment: Repayment fee at 1% – 1.5% on a collection
    Long-term additional revenue (3rd year onwards):
    Micro interest commission – 5% – 18%
    Investment product commission at 0.5% – 4%

    Vitto: Launch

    They tested the idea within their network and got a very good response. This motivated founders to develop an MVP and then again go to the same people to check their responses. The Vitto team used their own experiences while designing the product and it helped them to gain their first 100 users.

    Microfinance.AI-Vitto started to engage with other stakeholders about partnership. The idea is to take their amazing product into the market and have other similar users who can benefit from it.

    It took us very little time to convince our first few partners as what we have built is super amazing and exactly meets the requirements of our end users. We have built a strong product and are continually iterating it to become more useful for the actual users.

    – Swati Sinha (Founder & Director)

    They have started to promote the same on their social media channels and they have also got support from industry veterans/leaders.

    Vitto: Challenges and Achievements

    They are creating a disruption around their idea. Microfinance.AI-Vitto‘s founders and their team have built something very different which is currently not available in the market. The major challenge is to convince the first set of people who are not tech-savvy and are happy with their present system of delivery.

    Microfinance.AI-Vitto: Achievements
    Partnered with 6+ micro-lenders
    Received awards from LSE, CIIE, RBIT
    Launched first pilot in early 2021 and commercial pilot in mid-2021
    Went live with 6+ micro-lenders to date
    Customer served to date – 40,000
    Revenue in the last 12 months – US$ 8,000+
    Cumulative revenue to date – US$ 20,000+

    Vitto: Funding

    On  18th March 2021, Microfinance.AI-Vitto received non-equity assistance from MassChallenge Israel. On 2nd December 2021, the company raised $300K in its pre-seed round. Let’s Venture, We Founder Circle, Faad Network, Ankit Prasad (Bobble Al Founder & CEO), and Saurabh Aggarwal (Fitso Co-Founder & CEO) are some of the company’s key investors.

    We are in indirect competition with technology providers like Force Ten, Jayam, and Craft Silicon who have been in this sector for more than a decade and currently capture a major share of the market. These companies are focussing on digitizing operations, audits, and HR for the institutions and have built a very good LMS (Loan Management System) and CRM (Customer Relationship Management). They are working from the perspective of increasing efficiency for the MFIs and trying to reduce their operation cost while maximizing profits.– Swati Sinha (Founder & Director,Vitto)

    FinTechs are also indirectly related to Vitto as they are lending using their own technology-led platforms. They are using deep tech in solving the problems in meeting the credit requirements of the underserved sector. They are also building good algorithms to mitigate the risk associated with lending to people who don’t have a credit history.

    A few deep tech companies like Navana Tech and Jiny are building customer-centric products and trying to digitize the end users by making the applications user-friendly and assistive. Hyperverge is also researching and innovating on the technology interface and working on fraud prevention techniques.

    All these companies are indirect competitors to Microfinance.AI-Vitto, but they do not completely address all the problems in the market. Whereas, on the other hand, We are a purely customer-centric product development company working with a vision to revolutionize the microfinance space. We are working with a vision to bring billions of micro borrowers into a digital platform and provide them with a number of financial products and services through that platform.– Swati Sinha (Founder & Director, Vitto)

    Vitto: Products & Services

    Vitto's platform features
    Vitto’s platform features

    Microfinance.AI’s platform “Vitto” simplifies the entire microfinancing experience for its users. They offer an end-to-end loan management system.

    Vitto for Borrowers:

    Available in Multiple Local Languages: The app supports multiple local languages and this removes all the language barriers faced by users. The availability of video assistance makes it even more simple for people to use.

    Time-Saving: Borrowers can avoid the hassle of standing in long queues and frequently visiting the banks for getting their loans approved. There is zero typing involved in the app and it takes only 2 minutes to complete the loan application form in the app.

    Continuous Support: The Vitto App guides the borrower from the start to the end. One can complete their entire KYC in the app. The app shows the status of loans, notifies when payments are due, accepts online payments, and extends access to top-up loans. Customer support can also be reached out to when needed via the app.

    Educational Content: There are also short videos related to financial products on the app to improve the understanding of borrowers. This can help them make better financial decisions in the future.

    Vitto for Lenders:

    Live Tracking: Lenders can get live access and actionable insights on their portfolio performance, JLG exposure, customer history, and delinquency reports.

    Fraud Detection: Vitto’s facial recognition technology detects fraud as early as possible, i.e., even before customer onboarding.

    Vitto: Awards and Recognition

    Initially, Vitto’s founders got initial support from LSE and also a small capital to start the journey of entrepreneurship. They got selected by CIIE for their financial inclusion lab program last year and inclusive fintech 50 award last month which is a global recognition for the innovative fintech working for billions of people who are left out of the formal ecosystem.

    Microfinance.AI-Vitto has received awards from the London School of Economics, CIIE, IIM Ahmedabad, RBIT, and Inclusive Fintech 50.

    FAQs

    What are the main products of Vitto- Microfinance.AI?

    Vitto App and Vitto Pro.

    What are the benefits of using Vitto- Microfinace.AI?

    Vitto has Assistive & Vernacular AI, saving you time, and reducing your cost, an amazing dashboard that helps customers to have control better and also it educates you on finance and lending.

    Who are the founders of Vitto- Microfinance.AI?

    Kapil Patil and Swati Sinha are the founders of Vitto- Microfinance.AI.

  • CosIQ Success Story – The Leading Intelligent Skincare Brand

    The skincare industry is growing faster than ever before. With the change in weather patterns, increasing pollution, and also the increasing stress levels, people are getting more and more conscious of their skin’s health.

    Customers have started to look for products that are more customized and come with some scientific backing to cater to the different needs of their skin. However, not many brands are able to provide customers with such products.

    Here, an amazing example of a brand that offers scientifically backed skincare products that are also affordable is CosIQ. CosIQ is a brand that is meant to make your skincare intelligent.

    In this article, you’ll learn more about CosIQ, its products, founders, startup story, funding, achievements, and more.

    CosIQ – Company Highlights

    Startup Name CosIQ
    Headquarters New Delhi, India
    Industry Personal Care Product Manufacturing
    Founders Kanika Talwar, Angad Talwar
    Founded 2021
    Website mycosiq.com

    CosIQ – About
    CosIQ – Industry
    CosIQ – Founders
    CosIQ – Startup Story
    CosIQ – Mission and Vision
    CosIQ – Name and Logo
    CosIQ – Product/Service
    CosIQ – Customer Acquisition/Retention Strategy
    CosIQ – Marketing
    CosIQ – Revenue and Growth
    CosIQ – Funding
    CosIQ – Mentors and Advisors
    CosIQ – Challenges
    CosIQ – Competitors
    CosIQ – Achievements
    CosIQ – Future Plans

    CosIQ – About

    CosIQ is a molecular skincare brand that offers scientifically backed skincare products that are efficacious and affordable. It makes your skincare intelligent.

    It is a Gen Z-oriented brand that offers cutting-edge actives in smart formulations with #saferesults. The brand communicates clearly, which is what its customers love.

    CosIQ – Industry

    The worldwide Beauty and Personal Care market is a $580 billion behemoth, of which the Indian skincare market is worth $7.6 billion. The industry is growing with a fast-changing landscape in India, and there is high acceptance and love towards new age, scientifically-backed skincare brands amongst the Genz market. CosIQ is a frontrunner in the category and the only Indian brand with in-house formulations and result-oriented, clinically proven products.

    CosIQ – Founders

    Angad Talwar and Kanika Talwar - Founders of CosIQ
    Angad Talwar and Kanika Talwar – Founders of CosIQ

    Kanika Talwar and Angad Talwar founded CosIQ in 2021.

    Kanika and Angad got married in 2019, and they call CosIQ their first baby. Being couplepreneurs, they actually convinced each other to start CosIQ together. With such a clear gap in the market, it was essentially a no-brainer to start CosIQ, which provides an ethical solution to the “nimbu mirchi” brands in the market. Kanika convinced Angad to dive into this journey with her, and he has been her support throughout. They have been working hard to grow their firstborn into a successful business ever since.

    Though nothing is out of bounds or “not my job” at CosIQ for either of the founders, Angad essentially leads the product and branding side of things while Kanika takes care of operations, marketing, and finances. They co-lead the brand and, being together 24 hours, fight hard but hardly fail to reach a consensus on the direction they want to take CosIQ towards. This is probably the biggest benefit of being married to your co-founder.

    CosIQ – Startup Story

    Kanika Talwar has 4 years of experience in the Beauty and Personal Care Industry, where she has designed and formulated products for some of the biggest brands in the market. She has worked closely at both the manufacturing and marketing sides of the business, where she identified the need for a holistic, molecular skincare brand and started CosIQ with her husband, Angad Talwar.

    The founders of the brand worked for a year researching and formulating the products before launching in June 2021. Being in the industry, they consulted many people from marketing, product manufacturers, ingredient suppliers, brand owners, etc. to come up with the thesis for CosIQ. Additionally, each and every product goes through vigorous testing, an efficacy test, a trial, and validation before launch, typically a 6-month time frame. They have been continuing this high level of pre-launch validation to date, making each and every launch by CosIQ a different product in the market.

    CosIQ – Mission and Vision

    Mission: To be purveyors of life-altering, magical, superhuman, natural, ultra whitening, age-reversing, minimalistic, uber fantastic, chemical-free molecular skincare products that work.

    Vision: To educate people that Skincare ≠ Cosmetics

    CosIQ Logo
    CosIQ Logo

    This is the biggest talking point of the brand. CosIQ is a portmanteau of Cos (Cosmetics) and IQ (Intelligent Quotient) and the founders feel that it defines the brand very clearly. They call themselves an intelligent skincare brand and strive to share knowledge and be very legible in terms of their labels, ingredients, and brand ethos.

    The brand name was questioned on National TV when Ashneer Grover of BharatPe fell in love with everything about their products but called their name “Sasta Chinese TV ka brand lag raha hai” for its name. An incident also occurred that wasn’t telecast during the same pitch where Vineeta was advocating for the brand very highly amongst the sharks when they started pulling her leg, saying she was in love with their products only because her husband’s name is Kaushik, which sounded like CosIQ if you pronounce it in the same breath.

    They still have people calling the brand “Kausik” instead of “kaus-eye-qu”, the way they meant it, but they don’t mind if they love their products!

    The founders took this in stride and came back to do their research, where they found that their audience doesn’t really mind the brand name and actually identifies the deeper sense it makes once you understand the brand better. After much contemplation, they have stuck with the name! Quoting Shakespeare, “What’s in a name? That which we call a rose by any other name would smell as sweet.”

    CosIQ – Product/Service

    CosIQ Co-founder Kanika with CosIQ Products
    CosIQ Co-founder Kanika with CosIQ Products

    The brand offers clean, no-nonsense scientifically backed skin care products. Its idea is that if you need Vit-C, you do not need 1000 molecules of “nimbu” just the Vit-C molecule that is PROVEN to give results, thus their 2-ingredient Vit-C serum. It bases its theories on very similar lines while designing all its products. It stays away from unproven claims, and its products deliver the results that it promises.

    It is the only no-nonsense, ethical brand delivering clinically proven products at affordable prices in the market. Beyond products, they are building a community, sharing knowledge, and helping people decode their skincare journeys with them.

    CosIQ – Customer Acquisition/Retention Strategy

    For launching the brand, the founders knew that they had to get the product out in the hands of the first 100 adopters who have a presence on social media. The brand launched with micro and nano influencers on Instagram and also had the support of the Amazon Launchpad team to get the first 100 customers.

    The brand kept its social media marketing strategies on point, offering the product to influencers without any demands or briefs, something that was unheard of in the industry. The founders believed that if their product is good, the influencers will share it with their audience themselves, and they did.

    This also helped the brand build a high level of trust with the community with respect to its products, a position it enjoys to date. The brand does absolutely no performance marketing (Instagram, Google, or Facebook Ads) and lets its products do the marketing themselves with word of mouth.

    CosIQ – Marketing

    The brand’s pitch on Shark Tank India really catapulted them to the mainstream, with people all over India recognizing the brand. This has really helped CosIQ scale quickly.

    CosIQ – Revenue and Growth

    CosIQ is an online-only brand that is available on all major marketplaces like Amazon, Flipkart, Nykaa, Myntra, Meesho, Vanity Wagon, Sublime Life, etc. The brand leads the category and is growing at a rate of 30% month on month with an Annual GMV of >4 Cr.

    The brand plans to scale up its offerings by expanding its SKUs horizontally in other categories like face cleansers, moisturisers, toners, etc. The company is unit positive and has been EBITA-positive since day 1. With a high retention rate, they rely entirely on organic growth and word-of-mouth marketing and have not yet started on performance marketing (Ads) or inorganic growth.

    CosIQ – Funding

    Date Stage Amount Investors Name
    September Pre Seed Rs. 50 Lakh Anupam Mittal, Vineeta Singh

    CosIQ – Mentors and Advisors

    Vineeta Singh, founder and CEO of Suger Cosmetics, and Anupam Mittal, founder and CEO of Shaadi.com, are the mentors and advisors of CosIQ.

    List of Startups Funded by Anupam Mittal
    Anupam Mittal is the founder and CEO of People Group who funded several startups in Shark Tank India. Here are startups funded by Anupam Mittal.
    StartupTalkyMuskaan Kapoor

    CosIQ – Challenges

    Running a startup, the team always face new problems and challenges every day. Though there’s a new problem to fight every single time, their biggest challenge is to beat themselves when launching new products. They understand that they have set their bar very high, and their customers expect nothing less than sheer delight while purchasing any product with CosIQ’s name on it. This has become the brand’s benchmark, and it is the only problem, albeit a happy one that they face constantly.

    CosIQ – Competitors

    Some of the most prominent competitors of CosIQ are:

    • Minimalist
    • Derma Co.
    • Juicy Chemistry
    • Chemist at Play

    CosIQ – Achievements

    The notable achievements of CosIQ include:

    • The brand launched India’s first Sunscreen Serum.
    • It launched India’s first-only 2-ingredient Vit-C Serum.
    • CosIQ was featured on Shark Tank India Season 1 and got funding offers from multiple sharks.
    • CosIQ is funded by Anupam Mittal (Shaadi.com) and Vineeta Singh (Sugar Cosmetics).

    CosIQ – Future Plans

    CosIQ plans to launch into more categories in skincare, initially covering the whole face regimen, including toners, facewashes, moisturizers, etc. this quarter. Next year, they plan to introduce body care and, later on, hair care. They also plan to expand into global markets through online-only channels and explore growth in offline channels as well.

    FAQs

    What is CosIQ?

    CosIQ is a molecular skincare brand that offers scientifically backed skincare products that are efficacious and affordable. It makes your skincare intelligent.

    When was CosIQ founded?

    CosIQ was founded in the year 2021 by Kanika Talwar and Angad Talwar.

    Who funded CosIQ?

    CosIQ received INR 50 lakh in funding from Shark Tank India season 1’s Vineeta Singh and Anupam Mittal.

    Which brand launched India’s first Sunscreen Serum?

    CosIQ, an intelligent skincare brand, launched India’s first Sunscreen Serum.

  • MindTickle Success Story- Helping teams do better sales

    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 MindTickle.

    For anyone who is in the selling business is aware of how the world of sales is ever-evolving. In a competitive world like this, it is even more important for the sales team to be on their toes to keep up with the changing demands of the modern sales cycle.

    Companies always need to be sales-ready, in other words, they need to embrace sales readiness programs to keep up with the rapidly changing market. In addition, businesses should have a comprehensive sales readiness strategy that includes all the solutions that would help them give an insight into what’s happening in the market, thus helping them maintain their revenues and other expenses.

    To make things easier for such companies, MindTickle comes to the rescue. Founded ten years ago, Mindtickle is a sales preparedness platform that offers onboarding, product training, coaching, and continuous readiness services to aid thriving firms to become scalable and give them successful sales team and partner preparation.

    Check ahead all the details that cover about MindTickle’s journey. Read about its startup story, its founders, competitors, business and revenue model, acquisitions, and more in this article.

    MindTickle – Company Highlights

    Headquarters San Francisco, California, USA
    Sector Software Development
    Founder Krishna Gopal Depura, Deepak Diwakar., Nishant Mungali
    Founded 2012
    Valuation $1.2 billion
    Revenue $40.1 million
    Total Funding Raised $281.3 million
    Website www.mindtickle.com

    About MindTickle and How does it work?
    MindTickle – Industry Details
    MindTickle – Founders
    MindTickle – Startup Story
    MindTickle – Mission and Vision
    MindTickle – Name, and Logo
    MindTickle – Business & Revenue Model
    MindTickle – Funding, and Investors
    MindTickle – Awards and Achievements
    MindTickle – Competitors
    MindTickle – Future Plans

    About MindTickle and How does it work?

    Established in 2012, Mindtickle acts as a sales readiness platform by assisting revenue executives at world-class firms such as Johnson & Johnson, Splunk, and Wipro in preparing for revenue growth by boosting knowledge, pinpointing desired sales practices, and responding to change.

    Mindtickle provides on-demand online training to the company’s sales team with mobile updates, coaching, and role-playing with a data-driven strategy, accelerating time-to-productivity, and assuring consistent execution by resulting in sales effectiveness. It assists world-class organizations in increasing income by widening knowledge, recognizing optimum sales practices, and adjusting to change.

    The company is best known to offer sales enablement programs and training. This software by Mindtickle is designed to improve the overall engagement of the team with AI-driven reinforcement and practice exercises which helps them to train and develop their skills. The platform also helps organizations to map out revenue outcomes through specific skill sets.

    This San Francisco-based company is used by dozens of Fortune 500 and Forbes Global 2000 firms to define excellence, generate expertise, align content, assess performance, and improve behavior across their sales groups.

    Due to its technologically advanced sales readiness platform, most of the top industry experts identify Mindtickle as a market leader. Even G2 ranks Mindtickle as the No. 1 corporate software product.

    Mindtickle has a footprint in over 115 countries since its clientele has branches all around the world.

    MindTickle – Industry Details

    As the usage of the internet and online conferencing software grows, especially after the pandemic era, the demand for software is also rising. The software industry remains one of the fastest-growing sectors as compared to other industries. As a consequence, the software industry market size was estimated to be $389.86 billion in 2020, and it has only grown since then. This industry is anticipated to grow at a CAGR of 11% from 2022 to 2030.

    The market size of software development is vast and is only getting bigger and better with each passing hour.

    MindTickle – Founders

    Mindtickle is founded by Krishna Gopal Depura, Deepak Diwakar, and Nishant Mungali.

    Krishna Gopal Depura

    A student of IIT (Roorkee), and ISB, Krishna Gopal Depura is the CEO and co-founder of Mindtickle. Before launching Mindtickle, he was the Director of Product Management at PubMatic. Besides this, Krishna has worked in many organizations in handling important and strategic decisions. He has worked with notable corporations and startups such as Microsoft, Tejas Networks, and Infinera.

    One of his biggest thrills is knowing that Mindtickle’s clients are successful and pleased and that the company is a market leader in the sales readiness platform.

    Deepak Diwakar

    One of the co-founders of Mindtickle is Deepak Diwakar. He is in charge of the technology and operations of the company. After completing his graduation from IIT, Bombay, Deepak began his career as a software developer at PubMatic, where he worked for 3 years. His main operation is to establish the company’s technology direction and guarantees that its services are secure and dependable. He also manages operations and collaborates with Mindtickle’s worldwide staff to meet the company’s objectives.

    Nishant Mungali

    Nishant Mungali looks after the product strategy at Mindtickle. He is a seasoned user experience and designs professionally. With a keen interest in UI and UX, Nishant is most fascinated with usability and providing Mindtickle’s clients with the best user experience possible.

    Nishant gained his bachelor’s degree in Communication Design from IIT, Guwahati. He began his career at PubMatic and then moved on to D.E. Shaw & Co as an Interaction Designer.

    MindTickle – Startup Story

    Before the start of something great, there is always an inspiring story of those who worked hard to make it big. Such is the story of Mindtickle’s startup story. The three IIT graduates started the company from the scratch in the late months of 2011.

    The founders have shared that when Mindtickle was initially started, it was very difficult for them to even get 4 clients for its new readiness platform.

    MindTickle’s three co-founders experimented with gamification for the first time in 2006. They formed a group called ‘TeraMeraIdea,’ which brought students from all across their campus and the world together to participate in fun activities through the internet. They started conducting activities like quizzes and puzzles on various topics and NGO-related activities. They even took to Facebook to attract a lot of traffic. Further investigation revealed that this is where they saw success and came up with Mindtickle.

    MindTickle previously focused solely on employee engagement across various businesses. When the three saw that the requirement for staff learning was not being met, they decided to turn their attention to learning as well. After a certain point, the company gradually changed its attention to an effective learning platform while maintaining the insights learned from the engagement trials.

    MindTickle – Mission and Vision

    Mindtickle has values that they strive to live by:

    • Give Delight to its customers
    • Act like founders
    • Better Together

    The word mind tickle means ‘anything that makes a person laugh’.

    The reason the founders named their company Mindtickle is when they initially developed an engaging gaming platform with an unusual approach, they wanted to give people a rare experience that would help their customers learn while receiving rewards for their successful learning.

    MindTickle – Business & Revenue Model

    As mentioned in the above points, Mindtickle operates by offering various sales readiness solutions to top business companies. Therefore, its business model is B2B. Its business model can be further described as a developer of a data-driven sales readiness platform to enhance business impact across pre and post-sales teams.

    The majority of the business operations of Mindtickle involve a sales readiness platform with the following other services:

    1. Sales Content Management: This software by Mindtickle helps to align content and revenue with its integrated sales readiness platform, which allows organizations to access their team’s content, collaborate, and track their other content in the funnel.
    2. Sales Enablement and Training: With the help of AI-driven technology, the sales team can up their onboarding level through gamification and microlearning tools and train them to reach their goals.
    3. Sales Readiness Index: This Readiness Index by Mindltickle empowers the revenue teams with the assistance of AI-based benchmarks and tools that will allow them to analyze, report, and match with their representative’s behavioral approach.
    4. Personalized Sales Coaching: Mindtickle’s personalized sales coaching is what the name suggests, that is, it offers a completely flexible and personalized coaching experience to representatives to address their strengths and weaknesses. It provides a hybrid coaching system either through in-person, virtual, peer-to-peer, or even self-coaching.
    5. Sales Enablement Analytics: This platform allows organizations to gather insights into sales performance, which is designed for everyone, such as sales leaders, managers, and trainers to give them an understanding of how training and other enablement programs have impacted the entire team’s productivity. The dashboards on this platform give them the liberty to build reports and even export to any BI tool for centralized reporting.

    Mindtickle’s sales readiness platform generates most of its income through automated training paths, and by offering learning modules to top industries like financial services, HR, manufacturing, technology, tourism and travel, life sciences, etc. Mindtickle’s clientele includes companies like; Menemsha Group, Data Axle, Johnson & Johnson, Juniper Networks, ChowNow, PureCars, Pricelabs, Cipla, Factomart, etc.

    MindTickle – Product/Solutions

    Mindtickle is a leader in the market for providing ample sales readiness solutions. Its solutions help organizations focus on their team’s sales training and coaching needs.

    Mindtickle offers the following solutions for the revenue team to set goals, and create a coaching environment for them to improve long-term performance. There are:

    Mindtickle sales readiness solutions for the sales team are:

    • Sales Onboarding
    • Managed-Led Coaching
    • Sales Training
    • Sales Kickoffs
    • Partner Enablement
    • Account Strategy and Review
    • Voice of the Customer

    Mindtickle sales readiness solutions for the entire team or organization are:

    • Sales enablement professionals
    • Sales leadership
    • Frontline sales manager
    • Sales and revenue operations

    Mindtickle Copilot

    The launch of Mindtickle Copilot was announced on August 24, 2023 by Mindtickle. Copilot, an artificial intelligence-based platform for revenue organizations, makes it simple and quick to assess team performance.

    MindTickle – Funding, and Investors

    MindTickle has raised $281.3 million in investment over seven rounds. Their most recent fundraising came in the form of a Series E round on August 5, 2021. The company is backed by a total of eight investors. These investors are;  Qualcomm Ventures, Norwest Venture Partners, Canaan Partners, NewView Capital, SoftBank Vision Fund,

    New Enterprise Associates, and Accel. The funding details are:

    Date Funding Round Amount Investors
    August 5, 2021 Series E $100 million SoftBank Vision Fund
    November 16, 2020 Series D $100 million SoftBank Vision Fund
    November 16, 2020 Debt Financing – –
    July 29, 2019 Series C $40 million Norwest Venture Partners
    December 12, 2017 Series B $27 million Canaan Partners
    November 19, 2015 Series A $12.5 million New Enterprise Associates
    October 10, 2014 Seed Round $1.8 million –

    MindTickle – Awards and Achievements

    As the market leader in the sales readiness platform, Mindtickle has won some awards which are listed below:

    • Mindtickle has been recognized in the Top 50 Enterprise Products
    • & Sales Products in 2022.
    • Mindtickle has been listed in the Top 100 Software Products & Highest Satisfaction Products in 2022.
    • Mindtickle has won the Best Customer Support Award in 2021
    • Mindtickle has won Bronze 2020 Stevie Winner for Sales & Customer Service
    • Mindtickle has won the Sales & Marketing ‘The Sammy’ Technology Award 2020

    MindTickle – Competitors

    Some of the top alternatives to Mindtickle are:

    • LevelJump
    • SalesHood
    • Allego
    • SAP
    • Highspot
    • Clearslide
    • Salesforce
    • Showpad Coach (formerly LearnCore)
    • Brainshark
    • Gong
    • Chorus.ai
    • Lessonly by Seismic

    MindTickle – Future Plans

    Mindtickle recently announced that it has partnered with Baker Communications, Inc. (BCI), a sales transformation company to strengthen its sales productivity. With the help of this partnership, Mindtickle plans to provide a sales excellence joint solution that will alter the way firms assess, benchmark, and develop the selling talents of every customer-facing person. Their goal is to favor organizations to identify, develop, and integrate core selling competencies and tools to be sales-ready.

    FAQs

    What does MindTickle do?

    MindTickle provides on-demand online training to the company’s sales team.

    Who is the CEO of MindTickle?

    Krishna Depura is the CEO of MindTickle.

    Is MindTickle a Unicorn?

    Yes, MindTickle became a Unicorn in 2021.

  • Moj Success Story – India’s Short Video Creation App

    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 Moj.

    The growth of interesting new enterprises today is all because of the appropriate usage of social media. The notion of social networking has completely transformed the globe. We can see that the popularity of social networking websites has skyrocketed in recent years.

    While social media apps like Facebook, Instagram, Snapchat, etc are helping people connect with each other along with their favorite brands and products, on the other hand, there are other social media portals that are allowing people to make videos and become famous. One such social media app that earned tremendous popularity in 2020 is Moj.

    Moj was created when the Indian Government banned TikTok with several other Chinese apps in 2020. It is a short video-sharing social media platform owned by Mohalla Tech Pvt. Ltd. Moj’s parent organization is ShareChat, which was started by Ankush Sachdeva, Bhanu Pratap Singh, and Farid Ahsan.

    Here’s presenting all about Moj, India’s No.1 Short-Video App. Read about its success story, founders, business model, competitors, and more.

    Moj – Company Highlights

    Headquarters Bangalore, India
    Sector Technology, Information, Internet, Social Media
    Founder Ankush Sachdeva, Bhanu Pratap Singh, and Farid Ahsan.
    Founded 2020
    Revenue $102 million (2021)
    Parent Organisation ShareChat, Mohalla Tech Pvt. Ltd
    Website mojapp.in

    Moj – Company Highlights
    About Moj and How it works?
    Moj – Industry Details
    Moj – Founder and Team
    Moj – Startup Story / How it all started?
    Moj – Name, Tagline, Logo
    Moj – Business & Revenue Model
    Moj – Mergers, and Acquisition
    Moj – Advertisement and Social Media Campaigns
    Moj – Competitors
    Moj – Future Plans

    About Moj and How it works?

    Mohalla Tech Pvt Ltd, situated in Bangalore, owns both Moj and ShareChar. Moj is an Indian video-sharing online platform with multiple features. It includes special effects, emoticons, stickers, and short movies ranging in length from 15 seconds to one minute in categories such as dancing, travel, singing, acting, humor, and education.

    Moj allows users to download videos and is available in 16 languages. These languages include – Hindi, Assamese, Bengali, Bhojpuri, Gujarati, Haryanvi, Kannada, Malayalam, Marathi, Odia, Punjabi, Rajasthani, Tamil, Telugu, and English.

    The application was published nearly immediately after the Indian government banned TikTok, and over 100 million people downloaded it in just 6 months. The Moj app claims to have about 160 million Monthly Active Users (MAU), over 50 million creator communities, and nearly 4.5 billion video play per day.

    Moj – Industry Details

    With easy access to the Internet, social media has become an integral part of our lives. India is witnessing digital transformation every day. As a result, the number of social media users is expected to reach 448 million by 2023.

    Moj – Founder and Team

    Moj is founded by Ankush Sachdeva, Bhanu Pratap Singh, and Farid Ahsan.

    Ankush Sachdeva,Bhanu Pratap Singh & Farid Ahsan
    Ankush Sachdeva,Bhanu Pratap Singh & Farid Ahsan

    Ankush Sachdeva

    Ankush Sachdeva is the co-founder and CEO of ShareChat and Moj. He is a BTech Computer Science student who graduated from IIT Kanpur. Ankush worked as the company’s co-founder and CPO until being appointed to the position of CEO in 2017. Ankush co-founded ShareChat in 2015 after interning at Microsoft, which is said to be his 18th startup effort. He has been featured in Forbes‘ 30 under 30 Asia 2018.

    Bhanu Pratap Singh

    An IIT Kapur graduate, Bhanu Pratap Singh is the Co-founder and CTO of ShareChat. He has also co-founded Moj along with Ankush Sachdeva and Farid Ahsan. In his role, he heads a team of chosen coders and engineers from throughout the nation who are constantly upgrading the platform in order to create a product that gives a smooth experience to India’s next billion Internet users.

    Farid Ahsan

    Farid Ahsan graduated from IIT Kanpur in 2014 with a B.Tech in Metallurgical and Material Engineering. After receiving his degree from IIT Kanpur, Farid Ahsan worked as an Analyst in Corporate Finance at Deutsche Bank in Mumbai, India. He co-founded ShareChat with Ankush Sachdeva and Bhanu Pratap Singh in 2015 and Moj in 2020.

    Moj – Startup Story / How it all started?

    Moj’s story began when Ankush Sachdeva set to work just hours after the Indian government banned the usage of TikTok with a slew of other Chinese applications on the grounds of nationwide security.

    The co-founder and CEO of ShareChat, a local language social networking app, assembled a team along with his friends,

    Bhanu Pratap Singh and Farid Ahsan to replicate the successful Chinese short video platform. With such determination and results of working day and night, Moj was available for download on the Play Store within 30 hours.

    As of now, Moj has become India’s No.1 Short Video app with over 50 million content creators on its platform and is available in 16 Indian languages.

    Moj – Business & Revenue Model

    Short video platforms have a wide range of business models. However, Moj’s business model is seen to be operating on a B2C business model.

    Moj allows its users to freely use the app and make money from it by creating content on its platform. Moj app helps its customers to create 15-second videos to share with others. While generating videos, Moj users have access to several video effects, allowing them to make their films appear professional and appealing.

    Moj allows its customers to make money either through Affiliate marketing, sponsored posts, collaboration, etc. These are some of the methods through which Moj also generates its revenue.

    Another main source of revenue for Moj is advertising. A lot of companies use Moj as their platform to promote their products and services. The majority of the companies believe that a large number of people watch videos on such platforms (Moj), and sponsoring them will prove to be beneficial for their company as their advertisement will reach out to a large audience.

    Moj LIVE

    Recently, Moj launched a new service to mark its second anniversary, called Moj LIVE, a live video streaming platform that will allow its users to display their skills and interact with their audience in real-time.

    Creators from throughout the country may use Moj LIVE to produce compelling content in a variety of genres, including live discussion shows, live game streaming, jam sessions, stand-up comedy, cuisine, astrology, and more.

    Moj has also allied with Flipkart. In October 2021, it was reported that Flipkart and Moj will collaborate to offer video and live commerce, with Moj users able to purchase on the former’s web platform.

    Moj – Mergers, and Acquisition

    Moj has combined with MX TakaTak, which is owned by MX media, to produce the largest short video platform for Indians. There are around 100 million artists on the combined platform, over 300 million Monthly Active Users (MAU), and nearly 250 billion monthly video views.

    This is what Ankush Sachdeva says about the merging, “By 2025, we want to grow monetizable creators on our platform to 10 lakh from 1 lakh at present. Our fundamental belief is that you will have far more creators in India than you have today. Many of them may not be knowing that they are going to be creators. We will help them earn $450 million ( ₹3,500 crores) through virtual gifting, live commerce, advertising, etc.”

    Moj – Advertisement and Social Media Campaigns

    In 2021, Moj launched a new campaign #SwipeUpWithMoj, to boost its brand memory as the ultimate entertainment destination. The company had partnered with Bollywood actress Ananya Pandey and Tollywood actor Vijay Deverakonda as brand ambassadors for the campaign. In the video, they are seen in the app’s brand videos as well as content creators on Moj. The campaign by Moj is based on a greater understanding of the consumers’ need for exciting and engaging content that helps them captivate their attention by adding some fun to their daily life.

    Moj – Competitors

    After the ban of TikTok, India is witnessing many such short-video platforms that are competing with each other to gain a maximum number of creators. With so many social media platforms today, Moj competes with many competitors. Some of these are:

    1. Josh
    2. Mitron
    3. Koo
    4. Kutumb
    5. Chingari
    6. Digg
    7. Roposo
    8. Tna Tan

    Moj – Future Plans

    Moj is all set to launch a new program known as, “Moj for Creators”. Through this program, Moj plans to help creators strengthen their earnings by 2025. It has already started working on offering monetizable features to the platform. Furthermore, the company expects to help content creators earn Rs 3,500 crores by 2025.
    Ankush Sachdeva, CEO, and Co-founder of Moj says, “We are drawing these numbers from our internal projections and existing trends. But if you look at industry expectations, it is going to be probably even more aggressive during these early times. We look at creating at least a million monetizable creators by the end of 2025 and today we already have visibility of 100,000 creators on the platform.”

    FAQs

    Who is the CEO of Moj?

    Ankush Sachdeva is the CEO of Moj.

    Where is the head office of Moj?

    The head office of Moj is in Bangaluru.

    Which is the parent company of Moj?

    The parent company of Moj is ShareChat.

  • Havells Success Story – The most famous Consumer Electrical Appliances Company

    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 Havells.

    The process of urbanization is the reason behind the drastic revolutionization of the world. As a result of this, civilization has also transformed the technical norms and work processes. Furthermore, technological patterns led to the development of many corporate industries that started providing products and services for everyday use.

    As we talk, technology continues to advance, enhancing our lives for a better tomorrow. Almost every other thing today is available in the market, speaking about home appliances as well, they are turning out to be highly progressive and creative. Home appliances today are being manufactured and are balanced by an expanding consumerist culture and people’s appropriate purchasing capacity. It is now the age of mass consumption of refrigerators, electric dishwashers, radios, televisions, and a variety of other long-lasting items.

    Havells, the brand we are all acquainted from quite a long time, is one such popular Indian multinational electrical equipment company that has made its big name in the electrical equipment and home appliances industry in today’s time. It has 35 branches in over 60 countries, employing over 6,000 people. With brands like Havells, Lloyd, Crabtree, Standard Electric, Reo, and Promptech, Havells India is based in Noida, India.

    Havells – Company Highlights

    Headquarters Noida, India
    Sector Electrical equipment, Home appliances
    Type Public
    Founder Haveli Ram Gandhi, Qimat Rai Gupta
    Founded 1958
    Valuation $ 7800 Millions
    Revenue $ 130 Millions
    Trade Name Havells India Limited
    Website www.havells.com

    Havells – About
    Havells’s CSR Initiatives
    Havells – Industry Details
    Havells – Founder and Team
    Havells – Startup Story
    Havells – Mission and Vision
    Havells – Name, Tagline, Logo
    Havells – Business Model
    Havells – Revenue Model
    Havells – Mergers and Acquisitions
    Havells – Investments
    Havells – Advertisements and Social Media Campaigns
    Havells – Awards and Achievements
    Havells – Competitors
    Havells – Future Plans

    Havells – About

    Founded in 1958, Havells was started by Shri. Haveli Ram Gandhi. The company was subsequently sold to Qimat Rai Gupta, who was Haveli Ram Gandhi’s distributor. Havells India Ltd. is a multibillion-dollar organization and one of the largest and fastest-growing electrical and power distribution equipment manufacturers in India. It offers products ranging from industrial & domestic circuit protection switchgear, cables & wires, motors, fans, power capacitors, lamps, luminaires for domestic, commercial & industrial applications, modular switches, water heaters & domestic appliances covering the entire range of household, and commercial & industrial applications.

    In India, Havells has 14 cutting-edge production sites in Haridwar, Baddi, Sahibabad, Faridabad, Alwar, Neemrana, and Ghiloth, producing globally recognized goods synonymous with perfection and accuracy in the electrical sector. Havells and its brands have established themselves as the preferred choice of electrical equipment for discriminating people and industrial users both in India and overseas. With ‘Havells Exclusive Brand Stores,’ the business pioneered the notion of exclusive brand showrooms in the electrical sector.

    Today, the company has over 700 stores located across India with a wide variety of goods in the home and electrical appliances to choose from. In addition to this, Havells was the first FMEG company to provide door-to-door service with its project ‘Havells Connect.’

    Havells’s CSR Initiatives

    The Havells’s CSR initiative is known as Havells Steps with the catchphrase “Chhote Kadam, Badi Soch”. Its CSR initiatives are aimed at improving the lives of the communities through sustainability and bringing social changes in the areas like health & nutrition, sanitation, education, skill development, environment, humanitarian cause, healthcare, and so on. Through its CSR initiative, the company delivers mid-day lunches for 50,000 pupils in the Alwar area every day. This has resulted in a significant rise in the number of children attending school on a regular basis, as well as a reduction in hunger. In addition, the firm has purchased a property for the construction of a bigger kitchen with all contemporary amenities to offer freshly prepared food to the area’s 50,000 students.

    Havells – Industry Details

    Due to the easy access given to consumers these days, they are becoming more aware of the features and benefits of electronics and other home appliances. The introduction of smart technologies like the internet of things and AI-based devices has also impacted significantly the growth of consumer electronics and appliances in the market. No wonder this industry is rapidly growing with better and more modernized technology.

    The market of electrical equipment and home appliances is anticipated to grow at an impressive CAGR of 12.78% during 2023-2027. The total value of this industry is expected to reach $160.03 billion by 2027.

    Havells – Founder and Team

    Originally, Havells was founded by Shri. Haveli Ram Gandhi. Later on, he sold the company to his distributor Qimat Rai Gupta for less than Rs 10 lakhs.

    Qimat Rai Gupta & Anil Rai Gupta
    Qimat Rai Gupta & Anil Rai Gupta

    Qimat Rai Gupta

    Qimat Rai Gupta was born in Malerkotla, Punjab, British India (present-day Punjab) in 1937 to a lower middle-class Punjabi Hindu family. Qimat Gupta began his career in 1958 when he left his studies in Punjab and traveled to New Delhi, where he established Guptaji & Company, an electrical trading company, in Bhagirath Place, Delhi’s electrical wholesale market, with a capital of Rs 10,000 only. He gained wealth by selling switchgear in rural India and cables, lights, and fans in urban India.

    From then on, he invested capital into creating world-class manufacturing plants around India. Things took a turn when Qimat Gupta purchased Havells brand name from Haveli Ram Gandhi in 1971. Thereafter, Qimat Rai Gupta led to its glory and created various trends in the FMEG industry.

    Qimat Rai Gupta is also known to change the shape of the Indian electrical goods manufacturing process to global standards. He is also known to have founded QRG Central Hospital and the multi-specialty healthcare center QRG Health City in Faridabad.

    Qimat Rai Gupta has received the EY Entrepreneur Of The Year Award 2013. He was married to Vinod Gupta, and they have two boys and one daughter. Only his second son, Anil Rai Gupta, is involved in the firm and replaced his father as Havells’ Chairman. Qimat Gupta was 77 when died on November 7, 2014, due to cardiac arrest. His net worth was $1.95 billion at the time of his death.

    Anil Rai Gupta

    Anil Rai Gupta is the Chairman & Managing Director of Havells India Ltd. As a kid, Anil Gupta attended St. Xavier’s School in Delhi. He graduated from Sriram College of Commerce with a bachelor’s degree in economics and from Wake Forest University in North Carolina with an MBA. Being in the industry for 22 years, Anil Gupta has carried out his duties and responsibilities significantly. He joined the company in 1992 as a non-executive director. Anil Gupta took over as chairman and managing director of Havells after his father died in November 2014. He is one of the founders of Ashoka University, a Haryana-based private liberal arts institution. He has written a book known as Havells: The Untold Story of Qimat Rai Gupta (2016), a biography of his father, which was favorably appreciated.

    Anil Gupta received an Honorary Doctorate from his alma mater, Wake Forest University, in 2017, as well as the All India Management Association’s Emerging Business Leader Award. He was also named ET Family Business of the Year for the fiscal year 2017-18. Anil was also selected “Entrepreneur of the Year 2019” by Forbes India. Furthermore, He was also named Business Today’s Best CEO in the Consumer Durables Category for 2019 and 2020. Anil Gupta’s wife is Sangeeta Rai Gupta, with whom he has two children.

    Havells – Startup Story

    The story of Havells began at Bhagirath Place, a bustling electrical and electronics bazaar in the Chandni Chowk neighborhood of ancient Delhi. Haveli Ram Gandhi, the brand’s original owner started the company in 1958. After a few years of some difficulties, Havells was purchased by Qimat Rai Gupta, who was a former schoolteacher.

    Qimat Gupta found a great opportunity when he set up his own electrical trading business in Bhagirath Place and discovered Haveli Ram Gandhi’s trading difficulties. Havells brand was purchased for Rs 7 lakh, and since then, Qimat Gupta never looked back. His smart leadership skills and strategic business mind has taken Havells to the international markets today with a market value of Rs 78,185.07 crores.

    Havells – Mission and Vision

    Havells’ vision statement says, “To be a globally recognized corporation known for excellence, governance, consumer delight and fairness to each stakeholder including the society and environment in which we operate.”

    The mission of Havells is, “To achieve our vision through business ethics, global reach, technological expertise, building long-term relationships with all our associates, customers, partners and employees.”

    Havells lives by its four core values:

    • Customer Delight
    • Leadership by example
    • Integrity and Transparency
    • Pursuit of Excellence

    Havells’s tagline says, ‘Committed to saving energy’

    The name ‘Havells’ may sound like a foreign name, but it is very much Indian. The brand’s name is taken from the first owner of the brand – Shri Haveli Ram Gandhi.

    Havells – Business Model

    Havells, a brand that focuses on offering consumer electronic appliances can be said to have a customer-centric business model. The company is mainly concentrated on integrating and bringing its customers together to offer them a wide range of options based on their interests. Havells India’s primary customers are proprietors of small-scale, large-scale, and medium-scale industries.

    To shed more light on Havells’s business operations, the company has established many sets or groupings of electrical items based on the social and financial divisions of society. Havells’s middle-class range is primarily concerned with fetching new customers to this financial group. It offers clients a wide range of alternatives and choices.

    Havells’s business is all about producing a wide variety of electrical goods and equipment: its key products and services can be categorized into two parts:

    Consumer: Havells offers smart and sustainable consumer appliances with longer durability, these are:

    • Fans
    • Lighting
    • Water Heater
    • Air Cooler
    • Water Purifier
    • Personal Grooming
    • Switches
    • Switchgear
    • Flexible cables
    • Appliances (cooking, brewing, garment care, mixer, etc)
    • Solar
    • Pump
    • Lloyd Consumer Durables (air-conditioner, refrigerator, LED-TVs, washing machine, dishwasher, etc)

    Industrial: Havells is also engaged in providing a range of industrial electrical solutions, these are:

    • Heavy Duty fans
    • Cables
    • Motors
    • Switchgear and Controlgear
    • Professional Lighting
    • Power Quality Solutions
    • Solar Power

    With each passing year, Havells is proving to become more about customer satisfaction by offering a vast number of consumer goods to more middle-class people.

    Havells – Revenue Model

    As the most trusted brand by many Indians for its electrical appliances, Havells’s main source of income comes from the sales of residential appliances and industrial electrical items. It is seen that the Havells galaxy offers a wide range of items for both commercial and residential use.

    For the fiscal year 2022, Havells has reported having revenue of Rs 13,940 crores, whereas its Net income stood at Rs 1,196.47 crores.

    Havells – Mergers and Acquisitions

    Havells India has acquired two organizations to date. The details are:

    Date Acquiree Name Amount
    February 20, 2017 My Lloyd Rs 160 crores
    April 20, 2015 Promptec Renewable Energy Solutions Rs 6.5 crores

    Havells – Investments

    Havells India has made two investments. Their investment details are:

    Date Company Name Amount Invested
    December 13, 2021 Arrivae $750 million
    June 24, 2021 Veeda Clinical Research $16 million

    Havells – Advertisements and Social Media Campaigns

    Havells’s branding and advertisements have always put a huge impact on its audience with its creative and innovative campaigns. In recent times, Havells had launched a new campaign through a series of videos celebrating inspiring stories of people who have come across their challenges by ending the darkness in their lives. The campaign was called  #LetsEndDarkness showcases the stories of real people who overcame the many obstacles that life had thrown at them. The campaign features people like Smriti Mandhana (an established female cricket player), Deepa Malik (the first Indian woman participant at the Paralympic Games), Dr. Ruth John Paul (India’s first transgender doctor), and many more.

    In another attempt to promote its product called Gracia alkaline water purifier, Havells came up with the new campaign #SahiPaaniKaSignAlkaline to highlight the product’s features. The ad focuses on the fact that alkaline is the best solution for having the right type of water.

    Havells – Awards and Achievements

    Havells has been accoladed with many awards, these are listed below;

    2021

    • Havells won the India Design Mark 2021 for Silencio Mixer Grinder
    • Havells has achieved the ICSI CSR Excellence Awards FY 2021-2022
    • Havells has won the Great Place to Work

    2020

    • Havells has received the India Design Mark award for Edgelit
    • Havells has won the 10th CII Design Excellence Awards 2020 for Crabtree SmartH Automation Range by India’s 30 Best Workplaces in Manufacturing

    2018

    • Havells won the Digital Marketing of the Year 2018  – Consumer Durable Category
    • Havells won the Gold Award for Buzziest brand in the building segment by Afaqs

    Havells – Competitors

    The list of competitors of Havells India are:

    1. Bajaj Electricals Ltd.
    2. Siemens
    3. V-Guard
    4. Hitachi Energy
    5. Inox Wind
    6. Voltas
    7. Crompton Greaves Consumer Electricals Ltd.
    8. Honeywell Automation India Ltd.
    9. Exide Industries
    10. ABB India Ltd.

    Havells – Future Plans

    The company has announced that it is planning to build its own distribution channels across India. It is targeting to cover 2,800 additional towns with a population of 10,000 to 50,000 approximately. With an encouraging performance in the fiscal year 2022, the company plans to focus more on the core areas of innovation, manufacturing, and distribution. Furthermore, Havells is also aiming to expand in international markets such as the Middle East and Africa.

    FAQs

    Who is the CEO of Havells?

    Anil Rai Gupta is the CEO of Havells.

    Is Havells an Indian company?

    Yes, Havells is an Indian company based in Noida.

    In how many countries does Havells operate?

    Havells has a strong presence in over 60 countries.

  • Pidilite Industries’ Success Story | The manufacturer of the Iconic Fevicol Brand

    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 Pidilite Industries.

    Times have changed, and it has the power to change everything in the coming future. In the modern day, as technology and innovation go hand-in-hand, consumers are becoming more educated and aware of their choices than ever before. With more options available in the market, for customers, or industrial uses, there is a wide range of options to select from. For instance, we have unlimited opportunities in garments, textiles, construction materials, paint chemicals, arts and crafts, etc.

    ‘Fevicol’, is the glue product, that most of us have been using for a long time. It was established by one of the leading adhesive companies in India, Pidilite Industries Ltd. Pidilite Industries is known for making a variety of adhesives, sealants, construction and paint chemicals, automotive chemicals, and such.

    Pidilite Industries Ltd. was founded in 1959 and had its headquarters situated in Andheri, Mumbai.

    Check out the successful journey of Pidilite Industries in this article.

    Pidilite Industries – Company Highlights

    Headquarters Mumbai, India
    Sector Manufacturing, Chemicals
    Type Public
    Founder Balvant Parekh
    Founded 1959
    Valuation Rs 1.34 trillion
    Revenue Rs 8570.54 crores (2022)
    Website www.pidilite.com

    Pidilite Industries – About
    Pidilite Industries’ CSR Initiatives
    Pidilite Industries – Industry Details
    Pidilite Industries – Founder and Team
    Pidilite Industries – Startup Story | The Journey
    Pidilite Industries – Mission and Vision
    Pidilite Industries – Name, Tagline, Logo
    Pidilite Industries – Business & Revenue Model
    Pidilite Industries – Revenue Growth
    Pidilite Industries – Investments
    Pidilite Industries – Mergers and Acquisitions
    Pidilite Industries – Subsidiaries
    Pidilite Industries – Advertisements and Social Media Campaigns
    Pidilite Industries – Awards and Achievements
    Pidilite Industries – Competitors
    Pidilite Industries – Future Plans

    Pidilite Industries – About

    Pidilite Industries is a consume centric company or more precisely, an adhesives manufacturer located in one of the prime areas of Mumbai, Andheri. The company has been dominating the adhesive market since its inception. With many options available in the adhesive range, Pidilite also produces goods in various industries, including art materials and stationery, food and fabric care, automotive products, and sealants, and specialty industrial products such as pigments, textile resins, leather chemicals, and construction chemicals.

    The top brands from the house of Pidilite Industries are;

    • Fevicol
    • Dr. Fixit
    • Fevikwik
    • Fevicol MR
    • M-Seal
    • Fevistik
    • Hobby Ideas
    • Fevicryl
    • Others – include brands like; Rangeela, Roff, Terminator, Fevi Gum, Motomax, Steelgrip, and Wudfin.

    Pidilite Industries has over eight manufacturing facilities and is present in 71 countries, including Sri Lanka, Nepal, Bangladesh, Qatar, Oman, Madagascar, Thailand, Egypt, Kenya, Ethiopia, UAE, Brazil, Singapore, the United States, and many more. In India, Pidilite Industries’ manufacturing facilities are located throughout India, including Mahad (Maharashtra), Vapi (Gujarat), Baddi, and Kala Amb (both in Himachal Pradesh).

    Pidilite Industries’ CSR Initiatives

    Pidilite Industries is very particular when it comes to taking care of the surrounding communities and initiating corporate social responsibility. Pidilite Industries have created many such initiatives which are spread across India in states like Gujarat, Maharashtra, Himachal Pradesh, and Rajasthan.

    Pidilite goes with their tagline of CSR, “Improving the quality of Life”

    The company provided its support to Hanumant Hospital, which was the first hospital in Bhavnagar that started COVID treatment at the taluka level. With Pidilite’s support, the hospital had more than 19,170 patients screened for COVID symptoms, and more than 1,723 critical COVID patients have been treated. So far, 5,700 beneficiaries have been vaccinated through Hanumant Hospital and other centers.

    ‘Chalo School First Pukare‘ was established by the company to encourage pupils to return to school. It has collaborated with the Gujarat Elementary and Secondary Education Department to digitize 40,000 primary schools.

    Pidilite Industries – Industry Details

    Belonging to the adhesive and sealant manufacturing industry, Pidilite Industries comes from one of the booming industries today.

    As per reports, the global market size of this particular industry has anticipated a CAGR of 5.9% from 2022 to 2030.

    Pidilite Industries – Founder and Team

    Pidilite Industries was founded by Balvant Parekh in 1959.

    Balvant Parekh
    Balvant Parekh

    Balvant Parekh

    To many, Balvant Parekh was fondly known as ‘BKP’ and Balubhai. He was born in a Jain family in 1925 and completed his primary and secondary schooling in Mahuva before attending Government Law College in Mumbai. However, Balvant never practiced law and instead worked at a Mumbai dyeing and printing factory. He changed jobs as a peon at a wood trader’s office, where he used to live with his wife in the warehouse. Balvant decided to establish his own firm with the assistance of investor Mohan and began importing cycle, areca nut, and paper dyes from western nations. Balvant went to Sion, Mumbai, with his wife, kid, and brother Sushil after launching his firm.

    Balvant Parekh was regarded as a very caring and warm person by many. He was a philanthropist, who donated much of his money to noble causes. In Mahuva, he established two schools, a college, and a hospital. He founded the Darshak Foundation for research in Gujarati and Indian cultural heritage and made substantial contributions to Bhavnagar’s scientific city project. Balvant Parekh established the Balvant Parekh Centre for General Semantics and Other Human Sciences in Baroda, Gujarat, India, in 2009.

    Forbes India ranked Balvant Parekh 45th on its yearly wealthy list. Balvant has two sons, Madhukar Parekh and Ajay Parekh, both of whom worked for the family firm, Pidilite Industries, as well as one daughter, Kalpana Parekh. Balvant Parekh died on the 25th of January 2013 at age 88.

    Madhukar Balvantray Parekh

    Madhukar Balvantray Parekh is the present Chairman of Pidilite Industries. As of 2019, Madhukar Parekh is the 16th richest Indian, with a net worth of $7.5 billion. He started his journey with Pidilite Industries in 1972 after working at Abbot Laboratories in the US. Madhukar Parekh has a Master’s degree in Chemical Engineering from the University of Wisconsin.

    He is a natural scholar, who got placed fourth in the IIT admission exam but opted to pursue chemical technology instead because he wanted to build a niche in the chemical industry. Madhukar Parekh is a Gold medalist alumni of India’s foremost chemical technology research center, the Institute of Chemical Technology (ICT), previously the University Department of Chemical Technology (UDCT).

    Pidilite Industries – Startup Story | The Journey

    Pidilite began with the manufacture of one product only, and it was none other than Fevicol in 1959. It was a white synthetic resin glue, which was created to ease the lives of carpenters and woodworkers. By 1963, the company launched its first modern manufacturing plant in Kondivita Village, Mumbai. Today, the same building is the Corporate Head office.

    In 1990, ‘Pidilite Industries Private Limited’ was formed as its legal name, marking the first step toward brand awareness. After three years, the company went public and was listed on the Bombay Stock Exchange.

    As the company grew, it launched products such as M-Seal and Dr. Fixit. Pidilite Industries’ Fevicol was already considered one of the most preferred products by most Indians. The company not only did create affordable adhesives but made a lasting impression when it came to running advertisements. In 2002, the renowned Fevicol ‘Bus commercial’ not only captivated the hearts of Indians but also the hearts of the rest of the globe, winning the Silver Lion award at the Cannes Lions International Festival of Creativity 2002.

    By 2006, Pidilite Industries had more international expansion by acquiring companies in the US, and other parts of the world. At present time, the company has a presence in almost 71 countries.

    Pidilite Industries – Mission and Vision

    The vision statement of Pidilite Industries is, “To Be The Most Innovative Research and Technical Competence Center for Sustaining “Innovation-Driven” Growths for Pidilite Group of Companies globally.”

    As a manufacturer of many products, Pidilite Industries has a dedicated tagline for each of its brands. However, Pidilite Industries as a whole company goes with the tagline, “Building Bonds” as its overall brand slogan.

    Pidilite Industries – Business & Revenue Model

    Pidilite Industries works on two business modes: the first one is Consumer and Bazaar Segment (B2C), and the other is Industrial Segment (B2B).

    As mentioned earlier, Pidilite Industries manufactures consumer goods like adhesives, materials and stationery, food and fabric care, and care products for the consumer market. The other products are for the industrial market like textile resins, construction chemicals, and leather chemicals.

    To have a deeper knowledge, let’s understand how Pidilite operates its business activities.

    1. Consumer and Bazaar Segment: The consumer segment means products that are manufactured in small packages, and the bazaar segment includes items that come in big packages like mechanics or carpenters. About 84% of Pidilite Industries’ revenue comes from this segment.

    The consumer segment is further divided into three categories:

    a) Adhesives and Sealants – this group contributes about 55% of its revenue with brands like Fevicol, Fewikwik, and M-seal.

    b) Construction and Paint chemicals contribute around 20% of its revenue. Brands like Dr. Fixit and Roff are the two main products belonging to this category.

    c) Arts and Crafts – this is Pidilite Industries’ smallest group in the consumer segment. It is reported, that this group donates around 9% of its revenue.

    2. Industrial Products: With various products like textiles, paints, printing inks, paper, packaging, etc. Pidilite industries’ industrial products category contributes about 15% to their income. To break down their industrial products’ revenue contribution:

    • Industrial adhesives contribute 4% to their revenue.
    • Industrial resins contribute 5% to their revenue.
    • Pigments and preparations donate about 6% of its total revenue.
    • Other products like Specialty Acetate, contribute just about 1%.

    Pidilite Industries – Revenue Growth

    Pidilite Industries was reported to have made a Net Sale of Rs 8,298 crores. The company has also reported that its Consolidated Net Sales grew by 36.3% (2021-22). Furthermore, its Profit Before Tax and Exceptional Items (PBT) grew by 5.7%, and Profit After Tax (PAT) grew by 7.2%

    Its B2C business generated 79.6% of the company’s revenues and expanded by 30.5%, with excellent volume and mix growth of 20.2%. On the other hand, its B2B division provided 19.7% of the company’s revenues and expanded by 45.3%, with volume and mix growth of 20.2%.

    Pidilite Industries – Investments

    Until now, Pidilite Industries have made six investments. The details of their investments are as follows:

    Date Company Name Amount Invested
    August 23, 2022 Servify $65 million
    July 7, 2022 BuildNext $3.5 million
    April 21, 2022 Ply $1.7 million
    September 9, 2021 HomeLane $3.7 billion
    February 10, 2020 Pepperfry $40 million
    December 23, 2019 HomeLane $30 million

    Pidilite Industries – Mergers and Acquisitions

    Pidilite Industries Limited has acquired three organizations. The details of their acquisitions are:

    Date Acquiree Name Price
    October 30, 2020 Huntsman Advanced Materials $21 billion
    January 5, 2018 CIPY Polyurethanes Pvt. Ltd. $15.2 million
    June 16, 2016 Nebula East Africa Private Ltd. –

    Pidilite Industries – Subsidiaries

    Pidilite Industries has many subsidiaries that make the company one of the leading companies in the market. Some of its subsidiaries are:

    • ICA Pidilite
    • Nina – Percept
    • Building Envelope Systems India (BESI)

    Pidilite Industries – Advertisements and Social Media Campaigns

    Pidilite Industries has always continued bringing new campaigns and advertisements that deeply connect with its audience. While it’s too hard to list down all the campaigns done by Pidilite Industries, here are some of the popular ones below.

    In 2020, Pidilite Industries unveiled a new campaign with legendary actor Amitabh Bachchan. The campaign is about their product Dr. Fixit’s waterproof ability. Amitabh Bachchan’s hilarious yet clever tone has made Dr. Fixit advertisements so popular with the audience in this release of this latest TVC.

    Check out what, Vivek Sharma, Chief Marketing Officer of Pidilite Industries said, “Proper and complete water-proofing remains a vexing issue in Indian homes. Through this campaign, Dr. Fixit continues to educate consumers about the need to do complete waterproofing and makes it more accessible to consumers, contractors, and dealers alike in easy ways across all touch-points.”

    Another campaign was also launched in 2020 known as the Fevicol Marine the ‘Asli Waterproof Adhesive’. The campaign represents the durability of the Fevicol adhesive even under water.

    Its Fevicol brand has also been associated with one of the biggest Indian movies of the year – ‘83-The Movie’ in 2021 to reinforce brand leadership.

    Pidilite Industries – Awards and Achievements

    The list of awards won by Pidilite Industries in recent years are:

    • Abby Awards 2016 Silver In Events And Experiential Public Relations
    • CNBC TV 18 11th IBL Awards Most Promising Company Of The Year Pidilite
    • Fevikwik ‘Pyaun Pyaun’ radio campaign won a Bronze at the Golden Mikes 2016 in Best Use of Branded Content/ Sponsorship on Radio in the Effectiveness category
    • Pidilite won the Acetech 2015 Gold Award At Design Wall Dr. Fixit
    • Pidilite won the Consumer Products Awards EY Entrepreneur Of The Year Award in 2014
    • Pidilite has achieved the Great Place to Work 2021-22

    Pidilite Industries – Competitors

    Here are some of the competitors or alternatives of Pidlilite:

    1. UltraTech Cement
    2. Godrej Industries Ltd.
    3. HP Adhesives
    4. Vishnu Chemical
    5. Adani Enterprises Ltd.
    6. Bombay Dyeing & Manufacturing Company Ltd.
    7. Future Enterprises Ltd.
    8. Piramal Enterprises Ltd.
    9. Reliance Industries Ltd.

    Pidilite Industries – Future Plans

    As far as plans for the upcoming future are concerned, Pidilite is now concentrating on expanding its core category, which includes Fevicol, Fevikwik, Dr. Fixit, and M-Seal, through innovation, premiumization, and regional development.

    FAQs

    Who is the CEO of Pidilite?

    Bharat Puri is the CEO of Pidilite.

    Where is the head office of Pidilite?

    The head office of Pidilite is in Mumbai.

    How many products does Pidilite own?

    Pidilite has more than 1000 products in its portfolio.

  • Alkem Labs Success Story – India’s 5th Largest Pharma Company

    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 Alkem Laboratories.

    It can be safe to say that the importance of the pharmaceutical industry is increasing due to the increased need for pharmaceutical products. The pharmaceutical businesses are expandingly significantly these days. Therefore, every other pharmaceutical business is not backing down in offering high-quality pharma products.

    This pharma company has been consistently expanding its geographic reach over the years. We are talking about India’s fifth largest pharmaceutical company in India in terms of domestic sales, Alkem Laboratories. It was founded in 1973 by an Indian businessman, Samprada Singh.

    Read on to get a detailed understanding of Alkem Laboratories’ business and revenue model, its founder’s story, how it began its operations, its mission and vision, future goals, and more things in this article.

    Alkem Laboratories – Company Highlights

    Headquarters Mumbai, India
    Sector Pharmaceuticals, Healthcare
    Type Public
    Founder Samprada Singh
    Founded 1973
    Revenue Rs 10634.1 crores
    Parent Organisation Alkem Laboratories
    Website https://www.alkemlabs.com/

    Alkem Laboratories – About | How it works?
    Alkem Laboratories – Industry details
    Alkem Laboratories – Founder and Team
    Alkem Laboratories – Startup Story
    Alkem Laboratories – Mission and Vision
    Alkem Laboratories – Name, Tagline, Logo
    Alkem Laboratories – Business Model
    Alkem Laboratories – Revenue Model
    Alkem Laboratories – Growth
    Alkem Laboratories – Funding and Investors
    Alkem Laboratories – Investments
    Alkem Laboratories – Mergers and Acquisitions
    Alkem Laboratories – Advertisements and Social Media Campaigns
    Alkem Laboratories – Awards and Achievements
    Alkem Laboratories – Competitors
    Alkem Laboratories – Future Plans

    Alkem Laboratories – About | How it works?

    Alkem Laboratories Ltd is a worldwide Indian pharmaceutical business with its headquarters in Mumbai, Maharashtra, India. It produces and markets pharmaceutical formulations, generic medications, and nutraceuticals both domestically and abroad.

    The company has 21 production sites spread across several cities in India and the US. Leading regulatory agencies like the USFDA, MHRA SAHPRA  TGA, WHO, TPD, NDA, MOH, and TFDA inspect and audit Alkem’s upper-crest facilities following cGMP guidelines.

    Alkem Laboratories claims that it provides its products to more than 40 nations. The US is the company’s second-largest market after India. Australia, Chile, the Philippines, Kazakhstan, Europe, and East Africa are some of the other important markets. Modern production and R&D facilities located in the US and India support the company’s international activities and help to make high-quality healthcare products available, cheap, and accessible.

    As mentioned earlier in terms of domestic sales, Alkem is the fifth-largest pharmaceutical firm in India. The company dominates the acute therapeutic market and is a rising force in the chronic therapeutic market. A strong sales and distribution network, as well as substantial brand-building and marketing initiatives, support Alkem’s India operations.

    Alkem Laboratories is ranked in the third position in the Gastrointestinal and Analgesic therapy segments.

    Alkem Laboratories’ CSR initiatives

    Alkem’s primary goal is the “Go Green” initiative, which is to increase green cover through widespread planting.

    Below this effort, the company has planted over a million trees in places that are prone to drought in India’s Maharashtra.

    Conservation of water as well as trash management, are also important components of Alkem’s efforts to being an organization that is more sustainable.

    Alkem also wants to thrive in EHS while establishing a long-lasting competitive business advantage. The EHS strategy is based on the company’s “Zero Harm” concept, which aims to prevent harm to people, property, and the environment. So far, around 19,916 EHS-related training have been conducted across manufacturing sites from the year (2021-2022). Alkem Laboratories also stresses the 3R principle: Reduce, Reuse, Recycle.

    Alkem Laboratories – Industry details

    As India is a major exporter of pharmaceuticals, its market is presently estimated at $50 billion. It is also projected that the global pharmaceutical industry market volume will reach $1,431.00 billion by 2027, with revenue predicted to expand at a pace of 5.23% per year (CAGR 2022–2027).

    Alkem Laboratories – Founder and Team

    Samprada Singh founded Alkem Laboratories in 1973.

    Samprada Singh

    Samprada Singh founded Alkem Laboratories along with his younger brother Basudeo Narayan Singh. He was born into a middle-class family that lived in the Bihar hamlet of Okri in the Jehanabad district. Agriculture provided the majority of his family’s income, although it was frequently destroyed by the wrath of nature. He served as the Chairman of Alkem Laboratories.

    Samprada Singh got his Bachelor’s degree in Commerce from Patna University. He has won many accolades in his lifetime. To name a few; he received the Ernst and Young Entrepreneur of the Year in Healthcare and Life Sciences in 2017, Pharmaceutical Leadership Summit & Awards founded by Satya Brahma awarded Samprada Singh with a Lifetime Achievement Award in 2009. Samprada Singh was India’s 43rd richest person in 2017 as per Forbes magazine with an estimated net worth of $3.3 billion. Samprada Singh was aged 94 when he passed away on 27 July 2019 in Mumbai, India.

    Basudeo Narayan Singh

    Basudeo Narayan Singh is Alkem’s present Executive Chairman. He has worked in the Indian pharmaceutical sector for more than 40 years. At the 7th Annual Pharmaceutical Leadership Summit and the Pharma Leaders Business Leadership Awards in 2014, he was named “Business Leader of the Year.” Basudeo N. Singh had a stint as President of the Indian Drug Manufacturers’ Association. In 2016, he was also recognized as the “EY Entrepreneur of the Year in Life Sciences.” He also received the Indian Drug Manufacturers’ Association’s “Chief Mentor of the Year” award in 2018.

    Sandeep Singh

    Sandeep Singh is the Managing Director of Alkem Laboratories. He has over 18 years of experience in the pharmaceutical industry. Sandeep Singh joined the Board of Directors in 2018, and since then, he looks after the domestic as well as the international operations of the company.

    Sandeep Singh received the “Emerging Pharma Leader of 2016 Award” presented by Pharma Leaders in collaboration with the Ministry of Health & Family Affairs, Government of India in 2016. He was also highlighted by “ET AND SPENCER STUART 40 under 40” in the year 2021.

    Alkem Laboratories – Startup Story

    Samprada Singh always wanted to be a doctor but fate had other plans for him. He established a medical supply store in 1953, and Laxmi Pharma, a pharmaceutical distribution business, followed six years later. Thereafter, Samprada Singh founded Magadh Pharma in Patna, his own pharmaceutical distribution business. After 16 years in distribution, he decided to join Aristo Labs in 1970 and got into pharmaceutical manufacturing. However, following a string of failures and failed alliances, he finally made a bold move that irrevocably altered the Indian Pharmaceutical Market, it was Alkem Laboratories.

    The company began its successful journey in 1973. Alkem Laboratories’ first manufacturing unit was established at Taloja near Mumbai in 1978.

    It was in 1992, that Alkem’s second production plant was developed in Gujarat’s Mandva, which later became an API facility in 2005.

    Alkem Laboratories opened its first R&D center for ANDA  at Taloja in the year 2003. In terms of domestic sales in India, the anti-infective medicine Taxim of Alkem became the first anti-infective to reach $1 billion in 2006 in the Indian pharmaceutical business. In terms of domestic sales in India, Clavam, another medication from Alkem, surpassed the 2,000 million milestones in 2014.

    The business submitted its first ANDA for the medication Amlodipine in 2007, and it was authorized in 2009. In the six months that concluded on September 30, 2015, Alkem has created a portfolio of 705 branded generic pharmaceuticals, 13 of which were included among the top 300 brands in India for the fiscal year 2015.

    Alkem Laboratories – Mission and Vision

    The vision statement of Alkem is, “To achieve value-driven leadership in the Indian Healthcare Industry and beyond through: Quality that is infinite, Service that cares, and Hard work that endures.”

    Alkem’s motivation derives from wanting to improve medical results. It remains committed to making significant contributions to healthcare that will improve the quality of life for people by enabling them to live longer, better-quality lives. It does this by leveraging its strong industry experience, robust quality standards, and demonstrated capabilities in research, manufacturing, and distribution.

    The tagline of Alkem Laboratories is, “Four decades of empowering wellness”

    Alkem Laboratories – Business Model

    The business model of Alkem Laboratories includes developing, manufacturing, and marketing high-quality pharmaceutical products across all major therapeutic segments. It has more than 800+ brands out of which 12 brands have annual sales of more than Rs 1 crores.

    Alkem’s multi-product portfolio has the following categories:

    • Generic Drugs
    • Active Pharmaceutical Ingredients (APIs)
    • Nutraceuticals
    • Biosimilars
    • Pharma products for Therapeutic Areas – like Anti-infective, Gastroenterology, Pain Relief/Analgesic, Anti-diabetic, Cardiology, Dermatology, Neurology/Central Nervous System, and Vitamins, Minerals & Nutrients.
    • OTC Products – Playgard condoms, Pregnancy detection kits, Livoerb (ayurvedic medicine)

    Alkem’s six R&D centers are empowered with more than 500 scientists. The company operates its business in 19 manufacturing facilities. It is also present in more than 50 countries.

    Here is the list of Alkem’s research facilities, which are located mainly in India and the USA:

    • Alkem Research Centre, Taloja, Navi Mumbai, Maharashtra
    • Alkem Research Centre, Mandva, Gujrat
    • Enzene Biosciences Limited, T-Block, MIDC, Bhosari, Pune, Maharashtra
    • Enzene Biosciences Limited, MIDC, Bhosari, Pimpri-Chinchwad, Pune, Maharashtra
    • Alkem Laboratories, Fenton, MO, USA
    • Norac Pharma, Azusa, CA, USA

    International regulatory agencies, such as the US FDA, and European, Australian, and other authorities, have audited and authorized Alkem’s R&D centers.

    Alkem Laboratories – Revenue Model

    Alkem Laboratories’ revenue for this year was reported to be Rs 10,634.1 crores ($1.3 billion).

    Alkem Laboratories generates 70.8% of its revenue in India, 21.9% from the USA, and the rest 7.3% from other international markets. The company makes about 32% of its total income from offshore sales.

    Alkem Laboratories – Growth

    Alkem Laboratories reports having a record of solid performance with a growth of 29.9% this year. The company’s both prescription business and trade generic business performed strongly, indicating that this increase was broad-based. According to a research study, Alkem increased by 27.6% compared to the Indian Pharmaceutical Market’s (IPM) rise of 18.2%. The company’s overall performance was boosted by robust volume growth in its acute treatment sectors, which was assisted in part by COVID-19 tailwinds.

    Alkem Laboratories – Funding and Investors

    Alkem Laboratories has raised a total of $60 million in funding over one round. It raised funds through a Venture – Series Unknown round. The company is backed by five investors. Its most recent investors are DB International and Kuwait Investment Authority. The other three investors of Alkem are; Apax Group, Morgan Stanley, and Abu Dhabi Investment Authority.

    Alkem Laboratories – Investments

    Till now, two investments are made by Alkem Laboratories. It recently invested in a Bangalore-based cell therapy company, Eyestem for Rs 510 crores.

    Headquarters Mumbai, India
    Sector Medical devices, Pharmaceuticals, Healthcare
    Type Public
    Founder Wallace Calvin Abbott
    Founded 1944
    Valuation Rs 37,288.17 crores
    Revenue Rs 4,996.48 crores
    Parent Organisation Abbott Laboratories
    Website www.abbott.co.in

    Alkem Laboratories – Mergers and Acquisitions

    Below are some of the acquisitions made by Alkem Laboratories are:

    1. Acquired Enzene Biosciences, a company engaged in the development of biosimilars in India (2011)
    2. Acquired Ascend Laboratories, a pharmaceutical company in the US (2010)
    3. Acquired Pharmacor Pty. Ltd., a generic pharmaceutical company in Australia (2009)
    4. Acquired a formulation manufacturing facility in the US (2015)
    5. Acquired the ‘Clindac-A’ brand in India from Galderma S.A.  (2014)
    6. Acquired an API manufacturing facility in the US (2012)

    Alkem Laboratories – Advertisements and Social Media Campaigns

    In 2016, Alkem Laboratories launched its first campaign for its ayurvedic product ‘Livoerb’ with the tagline ‘Rakho apne Liver ko mazboot aur jawaan’. The campaign highlights the importance of using Alkem’s product Livoerb that keeps the liver in a healthy condition.

    The video shows an Indian family where a daughter-in-law is seen complaining about her in-laws’ unlimited demands of tasty food and how it is not affecting their health at this age. In the end, they reveal their secret to their daughter-in-law; that is by consuming ‘Livoerb’, which helps in regulating the functions of the liver.

    . 

    Alkem Laboratories – Awards and Achievements

    Here is the list of awards and achievements won by Alkem Laboratories:

    2021

    Alkem Laboratories won Great Place to Work Certified consecutively for the second time in a row

    Alkem was recognized as India’s Best Workplace in Biotechnology & Pharmaceutical industry for the second consecutive year

    2020

    Achieved the CIO Conclave and Awards 2020 in the category Best IT Team of the Year

    2019

    Received the Express Pharma Excellence Award at Pharma CXO Summit 2019

    Alkem received the Best Employee Engagement Practice and Best L&D Strategy Titles

    2018

    Alkem’s Brand ‘Clavam’ received the Brand of the Year 2018 Award at AWACS Awards for Marketing Excellence

    Achieved the Best Innovative CSR Project at CSR Summit & Awards 2018

    Alkem received the Business Excellence Award 2018 for Best Range of ICU Products, Pharma, and Health Care Summit organized by CMS.

    Alkem Laboratories – Competitors

    Alkem Laboratories has the following competitors:

    1. Dr. Reddy’s Laboratories
    2. Divi’s Laboratories
    3. Sun Pharmaceuticals
    4. Cipla Limited
    5. Aurobindo Pharma Ltd.
    6. Torrent Pharma
    7. Lupin Limited
    8. Laurus Labs
    9. Zydus Lifesciences Ltd.
    10. Pfizer
    11. Glenmark Pharma Ltd.
    12. Gland Pharma Ltd.
    13. Ajanta Pharma

    Alkem Laboratories – Future Plans

    Alkem Laboratories made spectacular growth of 29.9% as compared to the previous year. The company expects that its Chronic portfolio is getting better and better, expanding over two times as quickly as the market. Alkem’s recently established Pulmocare business, which serves the respiratory market, also had a successful debut. It believes that this new launch will also show a great growth rate of therapies.

    FAQs

    Who leads the company Alkem Laboratories?

    The company is headed by Mr. Basudeo N Singh who is the Executive Chairman.

    What is the rank of Alkem Laboratories?

    Alkem Laboratories is the sixth-largest pharma company in India in terms of domestic sales.

    Is Alkem an MNC?

    Yes, Alkem Laboratories is an Indian Multinational pharma company.

    Where is the headquarter of Alkem Laboratories?

    The headquarter of Alkem is in Mumbai.

  • Alembic Pharma: One of the oldest generic medicine producer

    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 Alembic Pharmaceuticals.

    Pharmaceutical manufacturing goes through many stages before producing a single medicine. This industry is by far one of the most successful industries of today. The success rate of these pharmaceutical manufacturing has resulted in outstanding progress in the medical world.

    With its headquarters in Vadodara, Alembic Pharmaceuticals Ltd. is a global pharmaceutical firm based in India. Founded in 1907, Alembic Pharmaceutical produces pharmaceutical goods, pharmaceutical ingredients, and pharmaceutical intermediates. It is also referred to as the market leader in India’s macrolides anti-infective medication category. Alembic Pharmaceuticals belongs to the Alembic Group, which was founded by  Prof. T.K. Gajjar, Prof. Kotibhaskar, and B. D. Amin.

    Learn all about Alembic Pharmaceuticals’ success story, its startup story, mission, and vision, and its business and revenue model.

    Alembic Pharmaceuticals – Company Highlights

    Headquarters Mumbai, India
    Sector Pharmaceuticals, Healthcare
    Type Public
    Founder Prof. T.K. Gajjar
    Founded 1907
    Revenue Rs 3131 crores
    Parent Organisation Alembic Group
    Website www.alembicpharmaceuticals.com/

    Alembic Pharmaceuticals – About
    Alembic Pharmaceuticals – Industry details
    Alembic Pharmaceuticals – Founder and Team
    Alembic Pharmaceuticals – Startup Story
    Alembic Pharmaceuticals – Mission and Vision
    Alembic Pharmaceuticals – Name, Tagline, Logo
    Alembic Pharmaceuticals – Business & Revenue Model
    Alembic Pharmaceuticals – Growth
    Alembic Pharmaceuticals – Mergers and Acquisitions
    Alembic Pharmaceuticals – Funding and Investors
    Alembic Pharmaceuticals – Awards and Achievements
    Alembic Pharmaceuticals – Competitors
    Alembic Pharmaceuticals – Future Plans

    Alembic Pharmaceuticals – About

    Alembic Pharmaceuticals Ltd. works on the production and marketing of Indian formulations, active pharmaceutical ingredients, international generics, and pharmaceutical intermediates. The company’s corporate office and headquarters are located in Vadodara, Gujarat, India, while its production facilities are spread out between Sikkim and Panelav, both in Gujarat. Active pharmaceutical ingredients (APIs) and formulation production are handled by its Panelav factory, while formulation production for India and unregulated export markets are handled by its Sikkim plant. Recently, the company’s production capacity was increased by the addition of three new plants for oral solids and injectables for cancer, general injectables, ophthalmology, and oral solids, bringing the total to six state-of-the-art facilities that epitomize manufacturing excellence.

    Alembic Pharmaceuticals is among the most reputable suppliers of specialty medications in India for a range of acute and chronic treatments. In the domestic market, it provides a range of high-quality items that address ten therapeutic categories. Alembic Pharmaceuticals is renowned for providing its customers with deliveries on time.

    Alembic Pharmaceuticals’ CSR initiatives

    The Alembic CSR Foundation was founded in 2015 to uplift and strengthen communities across various areas of Education, Health, and Overall Community Development.

    The company’s plantation initiatives have resulted in 1,300 saplings being planted over the past 5 years in 4 panchayats of the Panchmahals district, including 100 saplings planted in Gopipura village during 2020-2021. Alembic’s CSR foundation has built 242 domestic toilets in the Karkhadi and Pindapa panchayats in the Vadodara district as part of its sanitation activities. In the Vaseti Panchayat villages of Tajpura, Dadiyapura, and Shivjipura, it has also constructed 346 domestic toilets.

    Alembic Pharmaceuticals – Industry details

    Over the past two decades, India’s pharmaceutical business has expanded at a compounded growth rate of 16% for exports and 11% for the domestic market.

    Through 2025, the worldwide pharmaceutical industry is anticipated to expand at a 3-6% CAGR, with a projected market value of $1.6 trillion. This does not include COVID-19 vaccine investment, which is expected to total $157 billion overall through 2025.

    Alembic Pharmaceuticals – Founder and Team

    Alembic Pharmaceuticals is managed by Chirayu Amin, the Chairman & CEO of the company.

    Chirayu Amin- Chairman & CEO
    Chirayu Amin- Chairman & CEO

    Chirayu Amin

    Chirayu Amin is a multimillionaire businessman from India who also oversees cricket. Amin has guided the organization through the shifting demands of modern business while maintaining its legacy.

    He got his MBA degree from Seton Hall University. Furthermore, Chirayu Amin served as the Federation of Indian Chambers of Commerce’s chairman. Malika Chirayu Amin, his wife, has been listed by Kotak Wealth Hurun as one of India’s wealthiest women in 2020.

    Chirayu was also the Baroda Cricket Association’s president. He has received the Federation of Gujarat Industries (FGI) Lifetime Achievement Award in January 2021. According to Forbes, Chirayu Amin’s net worth as of May 2021 was US$1.8 billion.

    Pranav Amin

    Alembic Pharmaceuticals Ltd’s Managing Director, Pranav Amin, is in charge of the division’s global business operations.  He is a graduate of Thunderbird University in the United States with an MBA in International Management and a degree in Economics/Industrial Management from Carnegie Mellon University in Pittsburgh, USA. Pranav Amin is considered a fantastic people leader who directs the company via participation, empowerment, and autonomy.

    Alembic Pharmaceuticals – Startup Story

    In 1907, Alembic Chemical Works, which is now Alembic Pharmaceuticals Ltd., began producing tinctures and alcohol at its Vadodara facility. The business subsequently started producing sulfur medications, vitamins, tonics, and cough syrups around the 1940s.

    Additionally, Alembic started producing penicillin in the 1960s. Lal Bahadur Shastri, the Indian Prime Minister at the time, dedicated this Alembic factory to the production of penicillin in 1961.

    The pharma company immediately started producing vitamin B12 in large quantities in 1967.

    In the field of antibiotics, Alembic started producing erythromycin in India for the first time in 1971, not long after the manufacturing of penicillin was started. Alembic also created and introduced the erythromycin brand “Althrocin.” Althrocin surpassed all other erythromycin brands in sales in India in 1997.

    After a few years, Alembic got ISO 14000 accreditation in 2000 for its Vadodara plant. Following the distribution of 133,515,914 equity shares worth $2 each to the shareholders of Alembic Ltd. in 2010, Alembic Pharmaceutical Ltd. separated from Alembic Ltd. As a result, Alembic Ltd.’s ownership of Alembic Pharmaceutical decreased from 100% to 29.18%.

    Alembic Pharmaceuticals Ltd.’s equity shares were placed on the Bombay Stock Exchange and the National Stock Exchange of India in 2011.

    Around 2012, the company revealed the dermatology department in Indian markets with eight new products. In 2017, Alembic Pharmaceuticals based the manufacturing facility for Oncology medicines in presence of the then Hon’ble Chief Minister of Gujarat, Shri. Vijay Rupani.

    Alembic gained a $250 million sales milestone in the USA front end.

    Alembic Pharmaceuticals – Mission and Vision

    Alembic Pharmaceuticals’ mission is, “To improve healthcare with innovation, commitment, and trust.”

    The company believes that the four pillars of quality, capability, customer centricity, and diversity are the key enablers for its future growth.

    Alembic Pharmaceuticals Logo

    Alembic Pharmaceuticals – Business & Revenue Model

    Alembic Pharmaceuticals Ltd. runs its business as a vertically integrated pharmaceutical company. Each of the company’s business areas may benefit from the premium items in its varied range, which command greater margins.

    Alembic deeply invests in developing a portfolio of specialized, specialist medications that offer chances for long-term revenue development. It takes advantage of its manufacturing and intellectual edge, through strategic acquisitions that offer prospects for internal product development and value enhancement.

    Domestic Business:

    • Alembic offers products in 10 therapeutic areas including Cardiology, Orthopaedic, Ophthalmology, Nephro/Uro, Anti-Diabetic, Gynaecology, Gastrology, Dermatological, Anti-Infective, Cold, and cough with 185 brands in the market.
    • Most of its caters to several chronic and acute therapies and around 1,75,000 doctors in India.
    • It has two R&D centers situated in Vadodara (Gujarat), and Hyderabad (Telangana)
    • Alembic’s formulation facility is located in Sikkim, Panelav, Karkhadi
    • Alembic’s two brands are in the top 300
    • 1.4% market share in the Indian pharma space
    • Alembic APIs are supplied to formulators in over 60 countries across the globe
    • Alembic has generated Rs 1,497 crores (2020-2021) in domestic business

    International Business

    • Alembic is present in the US, Europe, Canada, Australia, Brazil, South Africa, and other markets
    • Offers diversified products in various therapeutic areas
    • The company has launched more than 90 products in the USA till now
    • It has one R&D facility in New Jersey, USA
    • Alembic generated around Rs 2,942 crores (2020-2021)
    • The company’s international business grew by 62% in Quarter 1 FY21 on a Y-o-Y basis, this excludes the USA.

    As per reports, Alembic spent around 12.4% of its revenue on R&D activities during 2020-2021 to upscale its generic business to the international markets.

    Alembic Pharmaceuticals – Growth

    Alembic Pharmaceuticals claims that it had enormous growth and a huge increase in market share for Azithral OSD. The company also established itself as a serious player on a worldwide scale since azithromycin was a crucial drug in the management of COVID-19. With a 30% market share of the domestic formulation market in India, it is one of the biggest makers of azithromycin.

    The implementation of the Laboratory Information Management System (LIMS) in its plants to ensure smooth workflow and data tracking, as well as the Quality by Design (QbD) initiative to improve the safety and efficacy of its products, are just a few of the significant initiatives carried out by the company in the recent years.

    Alembic Pharmaceuticals – Mergers and Acquisitions

    During its 115 years of legacy, Alembic has acquired some renowned business operations. The year 2012 saw the announcement of Paragraph IV ANDA litigation between Alembic Pharmaceuticals and Breckenridge Pharmaceutical, Inc., and Pfizer about desvenlafaxine (Pristiq). Additionally, Alembic and AccuBreak Pharmaceuticals Inc. engaged in product development and license arrangement.

    Alembic Pharmaceuticals and Ranbaxy Pharmaceuticals Inc. engaged in an out-licensing arrangement in 2013 to allow Alembic Pharmaceuticals to commercialize its medications in the USA. Later after one year, Alembic Pharmaceuticals entered into joint ventures with Adwiya Mami SARL Algeria through its wholly-owned subsidiary Alembic Global Holdings, expanding its business in Algeria. Besides this, Alembic also signed an exclusive contract with Novartis around 2015, expanding its business in Switzerland.

    Here’s the list of acquisitions made by Alembic Pharmaceuticals Ltd.:

    Date/Year Acquiree Name Amount
    March 29, 2022 Aleor Dermaceuticals –
    November 1, 2017 Orit Laboratories –
    2007 Dabur’s non-oncology formulation business Rs 150 crores

    Alembic Pharmaceuticals – Funding and Investors

    In a qualified institutional placement (QIP) on Thursday, Alembic Pharma collected Rs 750 crore from investors including Tata Mutual Fund, HDFC Life, Sundaram, Bajaj Life, and Nippon India Mutual Fund.

    Alembic Pharmaceuticals – Awards and Achievements

    Alembic Pharmaceuticals has won many awards and achievements, those are:

    • Excellent Efforts in Risk Management Award
    • Alembic Pharmaceuticals was listed in Forbes’ 2016 list of “India’s Super 50 Companies.”
    • Job Safety Analysis (JSA) Finished as the first runner-up in Job Safety Analysis (JSA) at CII Industrial Safety Summit 2016
    • Gujarat Best Employer Brand Award -Recognised for the ‘HR Event of the Year’ and ‘Outstanding Contribution to the cause of Education at the Gujarat Best Employer Brand Awards 2017
    • Alembic Pharmaceuticals received the Thomson Reuters Top 50 Indian Innovators Award in 2015

    Alembic Pharmaceuticals – Competitors

    Below is the list of competitors of Alembic Pharmaceuticals:

    1. Sun Pharmaceuticals
    2. Divi’s Laboratories
    3. Dr. Reddy’s Laboratories
    4. Cipla Limited
    5. Aurobindo Pharma
    6. Laurus Laboratories
    7. Lupin
    8. Torrent Pharma
    9. Zydus
    10. Pfizer
    11. Glenmark Pharma Limited
    12. Abbott India
    13. Gland
    14. Alkem Lab

    Alembic Pharmaceuticals – Future Plans

    Presently, Alembic Pharmaceuticals is establishing new capacities and funding R&D initiatives with more favorable risk-return profiles. In addition, its consumer interaction skills are driven by its US marketing team, who also assists them in adding more value. It further plans to take advantage of scale economies and guarantee an adequate supply for its clients by gradually investing in boosting capacity.

    FAQs

    Who is the CEO of Alembic Pharmaceuticals?

    Chirayu Amin is the CEO of Alembic Pharma.

    Is Alembic Pharma an MNC?

    Yes, Alembic Pharma is an Indian Multinational Company based in Vadodara, Gujrat.

    What is the rank of Alembic Pharmaceuticals?

    Alembic Pharma ranks 18 in India in terms of market cap.

    Is Alembic Pharma a public company?

    Yes, Alembic Pharma is a public company.

  • Homes247.in – On the Journey to Be India’s Favourite Property Portal

    Home Buying in this age and time is no longer a hassle-prone affair thanks to apps and websites like Homes247.in.

    For the past five years, Homes247.in has grown to be the favourite choice of home buyers across the southern cities, especially in Bangalore. The proptech portal was launched with the aim of popularising technology in the erstwhile traditional real estate markets of South India.

    The flagship brand of VSNAP Technology Solutions Pvt Ltd, as the name suggests, is a tech-oriented company that focuses on the realty industry. It embraces a wide range of products and services within real estate, such as home buying, resales, and rentals. Focusing more on developer and builder properties, Homes247.in has a reputation in the retail and residential market for the excellent trust and customer service it offers its clients.

    The firm also has a B2B arm called IndiaEstates.in that focuses on Exclusive or Mandate Sales.

    Homes247.in – Company Highlights

    Startup Name Homes247.in
    Headquarters Bengaluru, Karnataka
    Sector Real Estate Technology
    Founder Priyatham Kumar
    Founded 2017
    Parent Organization VSNAP Technology Solutions Pvt Ltd

    Homes247.in – The Idea and Starting Up
    Homes247.in – Founder
    Homes247.in – Key Areas
    Homes247.in – Business Model
    Homes247.in – CSR Activities
    Homes247.in – Funding
    Homes247.in – Growth and Future Plans

    Homes247.in – The Idea and Starting Up

    Homes247.in was founded in 2017 by Priyatham Kumar. After being part of the core management of various successful companies and with a wide range of experience from different sectors, Priyatham Kumar wanted to bring an easier way of buying and selling.

    However, after witnessing the widespread troubles and scams the home buyers were subjected to, he made up his mind to come up with a solution for the same. Apart from a few, the industry was very traditional, often undermining the potential of technology. It brought ease, transparency, and retention. It was simple; technology was the saviour.

    Thus with the experience of developing and scaling up some of the finest organizations, he started out at Homes247.in to be what the others could not – bringing technology into real-time real estate and being truly customer-centric.

    Priyatham Kumar says that the idea for the brand and the logo came to him while he was sitting in Bangalore’s famous Cubbon Park as if like a Divine Intervention. From then on, there was no looking back.

    Homes247.in – Founder

    Priyatham Kumar - Founder of Homes247.in
    Priyatham Kumar – Founder of Homes247.in

    Priyatham Kumar is an engineer with a core passion for sales. He has over 22 years of experience in sales and has scaled up several startups over the years. An engineer armed with IIM and other management verticals, Priyatham Kumar, seeks to revolutionize real estate by ensuring its tech and transparency as a whole.

    Homes247.in – Key Areas

    Bengaluru serves as the headquarters of Homes247.in, and it has a considerable presence in the residential real estate market in Tech Capital. However, it is not limited to Bengaluru alone, and its online version also serves some of the major Tier 1 and Tier 2 cities, such as Hyderabad, Chennai, Mumbai, Pune, Delhi, Kolkata, Jaipur, Mysore, and many more.

    Homes247.in – Business Model

    Homes247.in Website
    Homes247.in Website

    The business model of Homes247.in focuses more on the proptech, retail, and mandate division of residential real estate. The company helps home seekers throughout the end-to-end journey or home buying process, from site visits, negotiations, home loans, and interiors. They are not limited to buying alone but also selling and renting properties.

    The best part is that Homes247.in doesn’t charge any brokerage or hidden charges to the customers.

    It also acts as a lead generator and aggregator for many properties and RERA verified developers across the country. Many of its features, like Book a Home from Home, which was initially aimed at NRI Homebuyers, also helped flourish the local markets during the pandemic phase. Homes247.in, with its in-house marketing team, also provides support for the builders to ensure ample presence in the digital and offline spaces. The creatives of Homes247.in has turned many heads and already caused many ripples in the way how real estate is advertised, especially in Bangalore.

    Homes247.in – CSR Activities

    Homes247.in has always been an active player when it comes to giving back to society. Perhaps the most well-known activity that brought genuine value to the community was its action and awareness plan that distributed over 1 lakh masks to the people of Bangalore during the pandemic. The firm and its employees also participated in many awareness campaigns during their tenure.

    Homes247.in – Funding

    Homes247.in has been a bootstrapped or self-funded organization since its inception.

    Homes247.in – Growth and Future Plans

    Already a reputed PropTech brand, Homes247.in will soon expand its offline bases to some of the tier 2 cities in South India and help in running the futuristic realty growth engines.

    India’s real estate market itself, being one of the top contributors to the country’s GDP and one of its largest employers, speaks volumes about its potential. In fact, it was one of the very few industries that shook off the impacts of Covid-19 and continued its stride ahead. There’s itself is the indicator that Industry can never be completely a monopoly, and the future of tier 2 and 3 cities is great compared to the previous runs.

    And as India turns more and more digital, from FMCG to the Metaverse, can real estate be any different? It is here that the existing tech players get leverage over the traditional ones. In the coming decade, the entire game plan will change the existing modes of competition and marketing; thus, we can see a whole new crop of brands coming forth for the wins.

    Homes247.in has already started its venture into the Metaverse, which will be on the cards for Homes247 versions 3.0 and 4.0. The existing Web 2.0 will function in the traditional markets, whereas Web 3.0 will enhance it as a pan-Indian brand and realty solution provider. Thus, VR and meta realty will be two of the key points that will be explored.

    FAQs

    When was Homes247.in founded?

    Homes247.in was founded in 2017.

    Where was Homes247.in founded?

    Homes247.in is a Bengaluru-based firm.

    Who are the top competitors of Homes247.in ?

    Some of the top Competitors of Homes247.in are

    • 99acres
    • Makaan.com
    • Housing.com
    • Commonfloor.com
    • Magicbricks.com

    What is Homes247.in?

    Homes247 is India’s Favorite Prop-tech Portal that provides home buyers verified and handpicked property options to choose from. We are of the few premium full-stack property portals in the country which gives out Round the Clock assistance from Search to Settle.

    Who is the founder of Homes247.in?

    Priyatham Kumar is the founder of Homes247.in.

  • LendingClub: The Success Story of the American Financial Service Provider Company

    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 LendingClub.

    It can be safe to assume that one of the most vital parts of everyone’s life is banking and financial benefits. We are all heavily dependent on the bank and the financial sector to effectively use our money for loans, lending, investments, or insurance.

    These days, the options of banks and financial services are endless with many people using different kinds of banking and various financial services like insurance premiums, paying utility bills, online shopping, mobile recharge, etc all through Debit/Credit cards. The introduction of technology in this sector has also made transactions simplified and much easier.

    In order to develop and obtain future financial rewards, multiple financial services are being offered by major banks, such as personal banking, and business banking solutions. In addition to this, banks also offer investment advice or consultancy to assist investors in making the best use of their money.

    LendingClub, which was founded in 2006 in the USA, offers a wide range of financial products and services to help its customers reach their financial goals. The company was founded as the world’s first peer-to-peer lending platform.

    To gain some insights into LendingClub, we have articulated some relevant information on LendingClub’s products and services, its business and revenue model, competition, and the challenges it faced.

    LendingClub – Company Highlights

    Headquarters California, USA
    Sector Financial Services
    Founder Renaud Laplanche, Soul Htite
    Founded 2006
    Type Public Company
    Revenue $679.8 million (2021)
    Total Funding Raised $392.2 million
    Website www.lendingclub.com

    LendingClub – About and How it works?
    LendingClub – Industry details
    LendingClub – Founders
    LendingClub – Mission and Vision
    LendingClub – Business Model
    LendingClub – Revenue and Growth
    LendingClub – Challenges and Controversies
    LendingClub – Funding, and Investors
    LendingClub – Mergers, and Acquisitions
    LendingClub – Investments
    LendingClub – Advertisements and Social Media Campaigns
    LendingClub – Awards and Achievements
    LendingClub – Competitors
    FAQs

    LendingClub – About and How it works?

    LendingClub was founded in 2006 with the motive to lend its financial services. The company is San Francisco, California-based financial services startup. The best part about the company is that it was the first peer-to-peer lender to register its offers as shares with the Securities and Exchange Commission (SEC) and to allow secondary loan trading. LendingClub was the world’s largest peer-to-peer lending marketplace at one point. Around December 2015, the firm announced that $15.98 billion in loans have been originated on its platform.

    LendingClub also provides traditional direct-to-consumer loans, such as vehicle refinancing, through WebBank, an FDIC-insured, state-chartered industrial bank based in Salt Lake City, Utah. The services offered by LendingClub are – Personal loans, business loans, auto refinancing, personal banking, institutional banking, and institutional investors.

    Two years ago, LendingClub announced to shut of its peer-to-peer lending platform. The company no longer provides new loans for individual investing.

    LendingClub – Industry details

    As per reports, it is estimated that the global financial services market is worth $20.49 trillion in 2020. The banking and financial sector industry is said to make up a quarter of the world’s economy. This industry is undoubtedly regarded as the crucial nectar in each one of our lives. Reports also claim that about 6.6 million Americans are employed in the financial and banking sector.

    LendingClub – Founders

    Lending Club was founded by Renaud Laplanche and Soul Htite in 2006.

    Renaud Laplanche
    Renaud Laplanche

    Renaud Laplanche

    Renaud Laplanche had co-founded and served as the CEO of LendingClub for almost a decade. He is currently the co-founder and CEO of Upgrade, Inc., which is a fintech company. Before this, he is also associated with founding another company TripleHop Technologies, which was later acquired by Oracle Corporation. Born in France, Renaud has studied business and law and holds an MBA degree from HEC Business School in Paris, France, and London Business School. In his entire career journey, he has worked on cases related to mergers and acquisitions, joint ventures, and many investment transactions.

    Soul Htite

    Soul Htite is a fintech entrepreneur who co-founded LendingClub. Presently, Soul serves as the founder and CEO of Valt, a software company that offers financial services. Along with Valt, Soul is also the co-founder of Upgrade, Inc. He has worked with multiple organizations such as Oracle, SinoLending, Assured Asset Management, and True North. His main interests are real-time online services and system architecture for high availability and fault tolerance.

    LendingClub – Mission and Vision

    LendingClub’s mission reads as, “to transform the banking system to make credit more affordable and investing more rewarding.”

    The vision statement of LendingClub is, “Our leaders share a vision of expanding financial opportunities for all Americans through responsible innovation.”

    LendingClub – Business Model

    LendingClub operates its business through the fee-based model. The business of LendingClub offers borrowers to post loan listings on its website by providing information about themselves and the loans they want to obtain. After a borrower has visited the website, the company then decides whether the borrower was creditworthy based on the borrower’s credit score, credit history, desired loan amount, and debt-to-income ratio and awards a credit grade to its accepted loans, which set the payable interest rate and fees. A typical loan term is three years, with a five-year option available for a higher interest rate and extra expenses.

    As mentioned earlier, LendingClub offers personal banking, personal loans, institutional banking, institutional investment, business banking and loans, and other related financial services and loans.

    LendingClub – Revenue and Growth

    LendingClub has made a total of $679.8 million in revenue as of 2021. LendingClub generates its income by charging origination fees to borrowers and servicing fees to investors. The operating income is reported to be around $18.4 million.

    LendingClub – Challenges and Controversies

    During early 2016, LendingClub had increasing trouble obtaining investors. As a result, the company raised the interest rate it charged borrowers three times in the first three months of the year. The rise in interest rates, along with fears about the impact of the faltering US economy, resulted in a significant reduction in LendingClub’s share price. The Financial Times stated in December 2017 that LendingClub has failed to escape the impact of a governance controversy in May and that the company has battled to keep major investors buying loans despite internal governance changes. These difficulties have caused it to boost its loss forecast, resulting in additional reductions in its share price. Many other peer-to-peer lending organizations were also having issues at the time.

    LendingClub – Funding, and Investors

    Lending Club is backed by a group of 24 investors. The most recent investors are Two Sigma and Panorama Point Partners. The other investors’ names are – Flint Capital, Employee Stock Option Fund, FinSight Ventures, Sands Capital Ventures, BlackRock, T. Rowe Price, Coatue, and DST Global.

    Lending Club has raised $392.2 million in investment across 15 rounds. Their most recent fundraising came on April 9, 2017, in the form of a Post-IPO Equity round.

    Date Funding Round Fund Amount Investor
    April 9, 2017 Post-IPO -Equity – –
    August 22, 2014 Venture Round – –
    April 17, 2014 Debt Financing $50 million –
    Apr 17, 2014 Private Equity Round $65 million –
    November 13, 2013 Secondary Market Capital $57 million –
    May 1, 2013 Secondary Market Capital $125 million CapitalG, Foundation Capital
    June 6, 2012 Venture Round $17.5 million Kleiner Perkins

    LendingClub – Mergers, and Acquisitions

    Lending Club has purchased two businesses. Radius Bank was their most recent acquisition, which occurred on February 18, 2020. Radius Bank was purchased for $185 million. In 2014, LendingClub purchased its first company called, Springstone.

    LendingClub – Investments

    On September 4, 2019, Lending Club made an investment in Even Financial. The Venture Round – Even Financial investment was valued at $25 million.

    LendingClub – Advertisements and Social Media Campaigns

    LendingClub posts short ad videos on the website called ‘ispot.tv’ on personal loans, business loans, credit cards, debit cards, etc. You can find these videos are short with the right blend of marketing tactics targeted toward their audience with interesting characters and strong dialogue delivery.

    LendingClub – Awards and Achievements

    Some of the awards won by LendingClub are;

    • LendingClub was named Best Bank or Credit Union for Online Experience by Nerdwallet (2021)
    • LendingClub also won Celent Model Bank Award for Credit Innovation During the Pandemic for their Paycheck Protection Program response.
    • LendingClub won for Top Rated Company Perks & Benefits

    LendingClub – Competitors

    LendingClub has the following competitors

    1. Avant

    2.  Lendable

    3.  SoFi

    4.  Pagaya

    5. Happy Money

    6.  Auxmoney

    7.  SocietyOne

    8. SoLo Funds

    9. Upstart

    10. Primavera Financial

    FAQs

    Who is the CEO of Lending Club?

    Renaud Laplanche is the founder & CEO of Lending Club.

    Where is the head office of the Lending Club?

    The Head Office of Landing Club is in San Fransisco.

    Is Lending Club shutting down?

    Yes, Lending Club is shutting down.

    Why is Lending Club shutting down?

    Yes. As per the company’s website, it’s not economically possible for the company to continue its operation.