In 2021, Data AI company data.ai came out with an interesting report. As per the report, around the world, people spend around 38 hours per month watching videos on mobile apps. The trend is similar in India. Ormax Media’s report published in 2021 shows that there are 353 million OTT users in India, of which there are 96 million active paid subscriptions. There are about 40 OTT service providers in the country today, and among them, one of the most popular ones is MX player.
With about 280 Million Monthly Active Users Worldwide, MX Player has established itself as a top player in the OTT segment. Here is more on the MX player Success Story.
Indian Video Streaming platform MX player is a one-stop entertainment junction, where users can stream web series, TV shows, Movies, Music, Games, News, and more. The platform contains video content across all genres, and in various Indian regional languages, other than Hindi and English.
MX Player was developed by South Korean Developer J2 interactive in 2011. During its launch, MX Player was just a video player, that could play video files of different formats stored locally on a phone. The app was designed to play videos smoothly even on inexpensive Android smartphones, which is the reason it gained popularity in developing countries including India. Indeed India was MX Player’s largest market. This is the reason why India’s leading digital products company Times Internet acquired MX player for $140 Million in 2018.
In 2019, Times Internet relaunched MX player as a video streaming platform. As for today, MX player lets its users play offline video, stream videos online, and also stream music via Ganna (Times Internet’s music streaming service). Besides producing original shows in Hindi and other regional languages, MX player has tied up with various national and international studios like Goldmine, Hungama, Shemaroo, Paramount pictures, etc for sourcing content.
Launched initially just in India, MX player extended its OTT services internationally to countries like the USA, UK, Australia, Canada, New Zealand, Pakistan, Bangladesh, and Nepal in 2020.
MX Player was created by South Korea-based company J2 Interactive, which later was acquired by Times Internet in 2018. Since the acquisition, Karan Bedi has been operating as the CEO of MX player. Karan was previously the COO of EROS Digital which is yet another popular OTT platform of India. A Stanford University grad Karan Bedi has founded several other startups. In 2012, he founded edtech startup Tutorific, which he exited in 2014. He is also the co-founder of ContentFlow Technologies a company focused on the creation of education and infotainment-related content.
MX Player – Mission & Vision
As per CEO Karan Bedi, MX player’s vision is to be one of the world’s largest entertainment platforms and serve its users across their online entertainment needs, over and above just video streaming. In line with this vision, MX player has introduced music streaming. In February 2020, MX Player also launched games.
MX Player is an advertisement-based video-on-demand platform. Though there is an MX Player pro app that lets users enjoy the content without ads, the main source of revenue for MX players is advertisements. The company is looking forward to new ways of monetization in near future.
MX Player – Growth & Revenue
MX player had a wide base of customers in India even when the platform was owned by J2 Interactive. Post takeover of the app by Times Internet, and the re-launch of MX Player as a video streaming platform, it has attracted even more users. As per reports, MX Player’s Monthly Active Users grew by more than 14 % within 18 months of its acquisition by Times Internet.
As per the CII-BCG report in 2021, MX Player has over 280 Million Monthly Active Users Worldwide. The app has approximately 175 monthly active users in India. As per recent reports by App Annie, a research firm based in San Francisco, MX Player is the 2nd most downloaded app in India. The app has also gained popularity in Indonesia and Russia. As per the said report, MX player has reserved its place among the top 10 most downloaded apps worldwide. In 2019, MX Player was named India’s Top Streaming App by App Annie. As reported in 2021, MX Player registered more than 1 billion Downloads in Google Play.
The data relating to the exact revenue of MX Player is not revealed. But, in the Financial Year Ending March 2020, MX Player’s parent company Times Internet’s revenue grew by 24% to reach Rs 1,625 crore, and a sizeable chunk of this revenue comes from MX Player.
It is an Indian OTT platform and a joint venture between Star India and the Walt Disney Company.
Amazon Prime Video
It is an American subscription-based OTT platform. Amazon Prime Video is available both as a part of Amazon’s Prime subscription or as a standalone service.
Netflix
American Subscription based streaming service provider Netflix is one of the most popular OTT platforms worldwide.
MX Player is working towards growing as the one stop platform to fulfill all the online entertainment needs of its users. In the bid to grow, the platform is introducing new original content across various Indian Regional languages. MX Player has also introduced ‘MX Vdesi’ in the platform. Under the MX Vdesi segment comes various international shows dubbed in various regional languages.
MX Player – FAQs
Is MX Player a Free App?
Yes, MX Player is free for users. Though, there is an ad-free version of the app that is available for a small fee.
What is the Business Model of MX Player?
MX Player runs on a Freemium Model. The content is free to watch for the users. However, users can buy a subscription for an ad-free experience. Also, subscribers get early access to new releases on MX Player
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 CITTA.
The baby care products market in India is projected to grow at a CAGR of 11.11%, from 2020 to 2025. There is a growing awareness in parents about the health and hygiene of babies. Costomers are highly inclined towards natural and organic baby care products. There is huge demand of products with organic ingredients that have significant health benefits and are non-allergic to babies. These types of products are boosting the demand of skin-friendly baby care products in India.
CITTA is a brand owned by the Lexicon Group of Pune that offers baby bath and skincare products. Their products are made with natural ingredients with the fusion of modern science to provide safety, care, nourishment, and love to babies.
Read the startup story of CITTA, products, founders, business model, and more.
CITTA is a premium quality natural baby bath and skin care brand that is safe and tested. They are traditionalizing the experience of childcare for every modern parent by taking inspiration from the nuskhes [natural remedies] and love that our grandmothers showered us with. By researching the ancient rituals used in India for centuries to provide natural childcare, they have managed to modernize it by specially formulating products with high-quality ingredients most of which are Eco-Certifed and/or COSMOS certified. They understand that a baby is the most pure and precious thing in the world and so their safety is the priority, which they ensure by extensive testing that every batch of their lab-formulated product undergoes. CITTA provides each baby with the safety, care, nourishment and love exactly like a grandmother does, which is why they are 100% Grandma Approved.
They believe in 100% transparency, they are absolutely honest about every ingredient they use and mention the same on their products. When you start using CITTA’s products on your baby, CITTA becomes a part of your child’s life and so it also becomes their duty to protect and ensure that every child is safe and get benefits from their products.
CITTA – Industry
They began their research online by understanding the market size and audience using reports like Deloitte. After they understood their target audience a little and the basic market size, they worked with the Lexicon Center for Research and Innovation who helped them conduct further detailed research.
CITTA – Founders and Team
CITTA was co-founded by a mother and daughter duo – Monisha and Akanksha Sharma.
Monisha Sharma completed her B.Tech in Cosmetics and is the Director of the Lexicon Schools, along with being the co-founder of CITTA.
Akanksha Sharma completed her Bachelors in Creative Industry Studies from FIDM, Los Angeles and is the co-founder and CEO of CITTA.
Together, their dream is to create an honest and natural brand that combines Indian traditions for the modern user. The team has 9 people including the founders. One thing they all have in common is that they are all dedicated towards growing CITTA and work passionately, they call themselves the CITTA family.
CITTA – The Idea and Startup Story
Akanksha Sharma was studying in the US when she heard the news about the ongoing case of a certain baby care company. It really disturbed her. Babies are the most innocent beings and it’s our job to protect them so anything we apply on them needs to be 100% safe. Growing up in a large family of 10, she had the opportunity to receive the love and knowledge of her dadi and nani and all their nuskhas. She wanted to share it with every precious little child. When she came back from the US, with the help of my mother, who studied cosmetic technology they decided to create CITTA, a natural and safe option for parents where tradition is backed by modern science. They were able to connect with a research and development lab with over 25 years of experience. Then they conducted research on the ingredients and traditions across India. Post that the formulations they developed and tested, they worked on this for over 15 months to perfect the formulations. Only after they were satisfied with the formulas, they go into manufacturing at a safe and GMP-certified facility. Today their extensive journey is yielding great results as doctors across Pune are appreciating and recommending CITTA products.
CITTA is inspired from a sanskrit word ‘Chitt’ which means consciousness. They hope that everyone is extremely aware and conscious about what they apply on themselves and their baby’s skin and it ties them to our Indian heritage.
Akanksha Sharma, the CEO actually made the logo herself, it’s meant to reflect the simplicity and premium quality and ingredients.
CITTA – Products
CITTA Products
Their natural premium babycare products range consists of,
Moisturizing Baby Balm- the first of its kind in India, which provides longer lasting moisturization than a cream, with 7 natural oils, Vit E and goodness of Shea Butter.
Gentle Foaming Baby Shampoo – the 1st Indian natural foaming shampoo for babies with the goodness of oats and almond oil, No tears.
Tender Foaming Baby Wash – the 1st Indian foaming baby wash with aloe vera and coconut for increased moisturisation and rice protein for natural cleansing.
Soothing Talc-Free Baby Powder – Talc-free with cornflour and oat silk
Nourishing Baby Massage Oil – a unique blend of 12 Nourishing Oils and Vitamin E.
A majority of the ingredients are ECOCERT and/or COSMOS and/or NATRUE certified. They, at CITTA, believe in creating a 100% vegetarian brand with raw materials which are strictly sourced from suppliers that DO NOT test on animals and are 100% cruelty-free. All their products are innovated so that they are more convent for the parent and bottles tradition, eg. Most baby shampoos are thick and need to be mixed with water and then applied to the baby’s hair, since CITTA baby shampoo are foams, they can be directly applied to the baby’s hair. It also has almond, olive, and coconut oil to keep their hair soft and nourished.
CITTA is an FMCG company and are reliant on e-commrece at the moment. They are available on multiple reputed platforms like Amazon, FirstCry, Flipkart, JioMart and more. They are also available in medical stores across Pune city, and are recommended by pediatricians and dermatologists. CITTA is in a unique market space, since very few premium baby care brands exist in the baby bath and skincare category, however premium ingredient quality leads to premium pricing.
Here’s a list of their products and their MRPs, however they run seasonal discounts and offer promotional pricing at in-store purchases.
They launched initially by creating social media handles and their website. However quite early they started working with channel partners like Amazon. Creating awareness using Instagram and Facebook worked well for them, but the most precious thing for them is word of mouth and they are receiving wonderful feedback from most sources, who are passing the word forward.
A decent chunk of their orders are from returning customers, so retaining consumers is easier when genuine quality is provided and products show effective results. However to attract new consumers they market on various social media platforms, as well as Google and the newspaper.
They recently took part in their first offline event in Pune and it turned out quite successful. On the very first day of the two-day event the hero product of CITTA- the Moisturising Baby Balm, which is the highest priced product, got sold out! They believe that they have created products that are solving genuine consumers’ issues and hence they are trying to take a more direct approach to marketing. As for collaborations they believe in grabbing any opportunities that come their way!
They began right in the middle of the lockdown where vendors were far and few and timelines were very difficult, the price of materials had shot up exponentially due to trade barriers and lack of resources. Another issue was that most vendors required huge minimum orders and as a new and bootstrapped company they couldn’t produce too much or invest so much in materials, so it was a struggle to find vendors. However, they were able to find a few vendors who believed in their vision when they explained their brand values to them and that’s how they started their journey. The effects of the Covid induced lull in the market but things are looking positive now and they are optimistic about the future.
CITTA – Marketing Strategy
Their best marketing campaigns have been the ones where they have shared people’s honest feedback about the product, so consumer testimonials and proof has yielded good results. Also sharing their brand story has helped in explaining to people how and why CITTA was created.
CITTA – Growth
Currently, they are available across India on e-commerce sites like website and on marketplaces like Amazon, FirstCry, Flipkart and they are joining other platforms as well. They are also available offline in their home city of Pune. They are available in medical stores and they are in process of collaborating with a large medical chain across India. They are associated with premium maternity and childcare hospitals in the city and are being recommended by top doctors of the city. They are also starting to work with mom-influencers who are careful about what they recommend to their audience. They hope to expand offline to other top cities in India and market more heavily using digital and traditional methods.
CITTA – Advisors and Mentors
Since Mrs.Monisha Sharma has over 25 years of experience she guides them, along with Mr.Pankaj Sharma the president of the Lexicon Group. They are supported by their R&D partners in terms of research and formulations.
CITTA – Competitors
Their competitors are brands like Himalaya baby since they are both natural brands. Price-wise their toughest competitor is SebaMed Baby.
CITTA – Recognition
CITTA is a Dermatologist Tested and Approved brand, as well as an FDA approved brand. The manufacturing is done in a GMP certified facility and most of their ingredients are either ECO-CERT, and/or COSMOS and/or NATRUE certified since they only work with the top materials vendors for enhanced quality. Their mild fragrance is IFRA – The International Fragrance Association certified as an allergen-free fragrance and hence even though they use only the smallest quality of fragrance in their formulations they still want to ensure that it causes no reactions on the baby’s sensitive skin. They also worked with the office of the Gov. of Maharashtra to provide free skincare kits to young underprivileged babies and children.
CITTA – Future Plans
They hope to make CITTA a household brand in India. They believe that every child deserves the best and it’s their duty to provide it as their products are safe and natural, inspired by Dadi Nani ke Nuskhe and backed by science. Once they are successful in making CITTA a household name in India, then they plan to export in the future too as they want to reach out to most of the children across the world with their products. Their products are of international quality and would be appreciated by the people there too.
FAQs
Who is the founder of CITTA?
Monisha Sharma and Akanksha Sharma are the co-founders of CITTA.
When was CITTA founded?
CITTA was founded in 2021 in Pune.
What are the popular CITTA baby care products?
Some of the popular baby care products by CITTA are:
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 HealthySure.
Awareness towards health has increased after the Covid-19 pandemic. People have seen a medical crisis during pandemics which has made them more concerned about health insurance. The increase in awareness and demand for health insurance has confirmed that consumers want better health insurance for themselves and their families. Even after opting for good coverage, when in need, claiming health insurance becomes a pain point for consumers.
HealthySure has brought a solution through its affordable and accessible healthcare insurance system. It enables Indian citizenship to get a healthy society through insurance along with healthcare services. Read to know more about HealthySure, its founders, business model, its services, and the startup story.
Anuj Parekh, co-founder of HealthySure sharing story of starting HealthySure
HealthySure – About
HealthySure is an employee welfare insurtech. They offer 360-degree insurance and healthcare for organizations and their workforce. Their ultimate vision is to enable affordable and accessible healthcare to the Indian population, and they see organization sponsored health programs going a long way to achieve that.
Even if an organization is spending a small amount to get insurance cover for their workforce, they plan to leverage that spend and let employees take advantage bring down the cost of comprehensive voluntary health insurance.
They genuinely believe that a lot can be done to improve healthcare in the country and they hope to play a big part in the coming years to help achieve that.
HealthySure – Industry
The Group Health Insurance Market is projected to grow to $11Bn (Rs 80,000 Crore) by 2025 and is almost 1.5x the size of the retail health market. (IRDA Industry Statistics and IBEF and Mordor Intelligence reports). These numbers were projected pre-pandemic. They have clearly seen that this number will be way higher due to the increasing awareness and necessity of health insurance post-covid.
There are more than 100 million private organizations in India. As India’s penetration of insurance and health cover is very low, there is a huge scope for social security to be provided through organizations as is the case with some of the developed countries. HealthySure is focusing on SMEs and corporates in India with 1 Million such businesses, employing 36 million people.
Anuj is the Co-founder and CEO. He is a chartered accountant and a national rank holder, and has graduated from IIM Bangalore. He has over 7+ years of experience in management consulting, investment banking and corporate finance. Anuj was the key project consultant at Virgin Hyperloop, driving commercialization of world’s first hyperloop corridor in India before taking the plunge into entrepreneurship.
Sanil is the Co-founder and Product Head. He is a chartered accountant and has graduated from Indian School of Business. He has 7+ years of experience in product management, financial services and management consulting. He is also a founder of Saransh app, a news-in-short equivalent for the vernacular masses. Sanil was the lead product manager at Torre Capital, a fintech investments platform before co-founding HealthySure.
They are very good friends from their undergrad days when they studied at N.M. College. They always wanted to solve problems, create an impact and had an entrepreneurial mindset. The problem that they are solving, they could personally relate to which just gave them the push to launch HealthySure.
They bring in complimenting set of skills – while Anuj handles sales, business development and operations, Sanil is involved in product, technology and marketing. Rest of the functions are pretty much divided between the rest of us. Their experience working with startups has really helped us manage multiple things within the company.
They are currently a team of 25+. They have set up a culture that promotes ownership and responsibility. They encourage team to be not afraid to make mistakes and solve problems on their own. They like to offer a helping hand to them wherever needed. While they promote their openings across, they generally speak to people who directly approach them and also heavily promote referrals within their team and network.
HealthySure – The Idea and Startup Story
It was during, the pandemic that they observed a big problem faced by people even with a health insurance cover. For some of their close friends, COVID hospitalization costs for family members were going through the roof. Despite having organization-sponsored health insurance, they were struggling to pay off bills as their cover was inadequate or had certain restrictions such as a room or disease capping leading to short claim settlements.
As they dug deeper into this problem, this pattern of inadequate health cover was clearly visible across the board.
Organizations, in most cases, are restricted by budget constraints and as a result opt for a cover that may not be comprehensive. For instance, a corporate health cover of 3 lacs may not be enough to cover healthcare needs of an employee’s family and this does not inspire confidence. This results in either the employee opting for a separate personal cover and in essence paying double the premium or as in most cases, the employee is unable to afford a comprehensive cover, thereby leaving him with the potential for crippling debt at the time of critical emergencies – as was the case observed during COVID. It’s not that people don’t want to have a comprehensive cover, health insurance is also becoming an expensive proposition for many.
They have innovated a first-in-industry product that helps employees upgrade their corporate health cover for a nominal amount. In the process, the employees enjoy saving as high as 90% over an independent policy. The employees get an added advantage of continuing such covers in personal capacity post-employment with HealthySure. HealthySure is thus making it very affordable to have a comprehensive lifelong insurance cover for any employee.
HealthySure – Name, Tagline, and Logo
HealthySure Logo
HealthySure is a unique combination of belief in enabling a healthy society and primarily enabling it through insurance along with healthcare services. So, it’s basically a blend of Health + Insure. Their close friends pitched in with the suggestion while they were brainstorming on what to call ourselves. They immediately identified with it. Their logo is just an extension of their name and identity.
HealthySure – Products and Services
HealthySure provides group health insurance to companies. They have innovated a first-in-industry product that helps employees upgrade their corporate health cover for a nominal amount. In the process, the employees enjoy saving as high as 90% over an independent policy. The employees get an added advantage of continuing such covers in personal capacity post-employment with HealthySure. They are thus making it very affordable to have a comprehensive lifelong insurance cover for any employee.
HealthySure offers employees to take a cover of as high as Rs. 1 crore and all this, while saving significant costs since a sizable portion is subsidized by the organizations themselves. All this is managed through a seamless tech experience for the organization and as well as their workforce.
The platform also offers a 360 degree healthcare services for their clients including doctor consultations, health checkups, mental wellness, fitness memberships, discounted pharmacy purchases and lab tests among a few.
They operate in the B2B space and are also able to target employees and have a B2B2C segment. Insurance plans may cost as little as Rs 50 per employee per month for basic covers and can go as high as Rs 3,000 per employee per month for a comprehensive coverage. Compared to retail covers in the market, this still comes at a very low cost.
HealthySure – Business Model and Revenue Model
HealthySure monetizes through insurance commissions and selling healthcare services to organizations. Due to their unique offering of Unified Health Insurance, they also see good demand from employees subscribing to additional voluntary insurance coverage.
HealthySure – Customer Acquisition
Getting the first set of customers is always a challenge for any business, specially if you are a B2B business. What worked in their favor was their narrative of ensuring the best possible service and addressing the pain points of their customers.
As the market grew, they started automating their processes and thus letting them gradually build scale. To give an example, they carefully studied the health insurance claims journey of an employee. In a few months, they automated the entire backend process for their customers. They were careful not to bring in the usual solutions of chatbots and telecallers as they understand that human element is always critical in a stressful time like hospitalization. Their clients therefore always have a person to talk to which gives them comfort. As a result, they have settled more than 100+ claims and have received 5 star ratings from their customers on the service.
HealthySure – Challenges Faced
For any startup, building a team and fostering a great culture is the biggest challenge, even more than raising capital. They have been lucky to have had great people in the founding team, who have believed in their vision and continue to deliver exceptionally.
Building their team required great efforts. While it is important to build a team as soon as possible, they would generally take time. They spoke to people who approached them directly or through their networks and build a connect with them. So even if their team building took time, they had the best of people join them who believed in them and their vision. They have managed to keep their attrition really low which has given them a good stability to build the company.
Their culture of emphasizing learning, ownership, and responsibility ensures that they are building leaders within the company. This is something that will be their competitive advantage for years to come.
HealthySure – Growth
HealthySure started operations 9 months ago and currently doing an Annualized Gross premium of around 15 Crores. This is additionally supplemented by revenue from healthcare-related services. They expect this to grow significantly. They are scaling up their team, technology and operations. While they are yet to achieve profitability, they are confident it may come within the next 2-3 years. They have been very efficient in capital deployment and will focus on growth as well as profitability.
HealthySure – Funding
Date
Stage
Amount
Investors
Feb 2022
Pre-series A
INR 9 Crores
They have raised a pre-series A round funding of Rs. 9 crores in Feb-22 with a clutch of institutions participating. The funds are currently being deployed to scale up their tech, operations and to create an amazing brand HealthySure.
HealthySure – Competitors
Some top competitors of HealthySure are:
Pazcare
Nova Benefits
Plum
HealthySure – Tools Used in the Company
Some of the tools that HealthySure uses to run the startups are:
They hope to serve around 1,50,000 lives within the next 12 months and over a million over the next 2 to 3 years. They have aggressive plans to build a brand that the entire B2B ecosystem has trust and confidence with. Their target groups are SMEs in India, who are predominantly looking to buy employee benefits for the first time. They see a lot of growth in this sector as organizations realize the importance of health covers post the pandemic. There are also some indications of government mandating employee health covers as social security for organizations like certain developed countries. If this happens, it will give rise to exponential demand.
FAQs
When was HealthySure founded?
HealthySure was founded in 2021.
Who is the founder of HealthySure?
Sanil Basutkar & Anuj Parekh are the founders of HealthySure.
Is HealthySure funded?
Yes, HealthySure received a funding of INR 9 Crores in Feb 2022.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved bySmartr Logistics.
The size of the Indian logistics market is estimated to grow by 380-400Bn+ by 2025. With the upsurge of technological advancements, logistics startups are also growing their business manifold. As the market is growing, from logistics to e-commerce, the competition has become tough to deliver the customers expectations. Statistics from various sources show that over 60% of customers expect low cost yet fastest delivery.
Fastest delivery has become the logistics trends these days. Smartr Logistics is a mumbai based startup that provides express inter-state delivery.
Read to know about Smartr Logistics, founder, startup story, services offered, and more.
Smartr Logistics (a trademark of Smart Express Pvt. Ltd.) is an express logistics startup that provides a one-stop solution for all logistical requirements. The company aims to provide best-in-class logistical services customized to the needs of the customers. The company wants to break the prevalent myth in the logistics industry that “Quality service comes at a high price”.
Promoted by Mr. Yogesh Dhingra, ex-CFO, COO & CSO of Blue Dart, Smartr Logistics was established by passionate business veterans with a combined experience of over 200 years in the logistics industry. Considering their expertise in the industry, the Smartr Logistics team believes that the start-up has the capacity to reimagine the Indian logistics industry thriving on contemporary technology providing unique solutions in the post-pandemic era.
Smartr Logistics is one of the few players that secured a seed fund of INR 100 crores from the get-go and is determined to establish itself as an industry leader in the coming years.
Smartr Logistics – Industry
Currently, the Indian logistics sector is valued at USD 250-300 billion. The industry is estimated to grow anywhere between 12-15% CAGR to reach USD 380-400Bn+ by 2025.
Smartr logistics aims to be a leading state-of-the-art Indian logistics enterprise venturing into the Air and Surface logistics as well as 3PL, warehousing and fulfilment centres. They are confident that their services will win the trust of customers and partners alike reaching new milestones along the way.
Smartr Logistics – Founders and Team
Yogesh Dhingra is the founder of Smartr Logistics and Arun Nangpal, M.D. Bassapa, Nikhil Kumar Saxena, Utkarsh Sharma are the co-founders.
Yogesh Dhingra acquainted a few talented and curious individuals in his career. They have worked together to grow their previous organizations together. They have started Smartr Logistics with a common goal in mind – quality services at the right price.
With the support of the co-founders Smartr Logistics was smoothly set up.
Smartr Logistics Team
Arun Nangpal, the Chief Human Resource Officer and Chief Customer Experience Officer brings her experience of over 30 years of expertise to the Smartr Logistics team. She is a recipient of several awards like Best Customer Feedback Strategy of the Year’ (2013), by Franchise India, Best Customer Service Professional of the Year’ by National Quality Excellence Awards 2012 among a few. Such rich and well-rounded professional experiences make Arun a formidable force to reckon with.
M.D. Bassapa, the Chief Financial Officer, Head of Procurement & Real Estate is certainly the dynamic force that gives the team a driving spirit. He is a valuable industry veteran with over three decades of experience. At Smartr Logistics he will lead the development and implementation of various financial and business systems and processes.
Nikhil Saxena, the Chief Operating Officer and Head of Security, is an esteemed industry veteran with 35 years of experience. He has been a mentor, a leader, and a visionary. At Smartr Logistics, his incredible business insight and expertise in the first mile, mid mile, and last mile of the operations gives their products and services a competitive edge.
Utkarsh Sharma, Dy. Chief Revenue Officer (North) is an industry elite with 29 years of experience Over the years, he has built his teams with discernment and precision. An integral part of the Smartr Logistics team, his preoccupation with sales management & customer-centricity has resulted in significant revenue growth and sales.
In just four months of commencing operations, the company has onboarded 600+ employees and plans to expand more.
They are committed to keeping their employees happy and wanting to contribute to their journey. At Smartr Logistics, they offered ESOPs not just to the top management, but to the first cohort of employees (over 100 employees) who were hired. They want to give talented individuals a chance to create their wealth and grow along with the company. They won’t leave anyone behind.
Smartr Logistics – The Idea and Startup Story
Yogesh Dhingra entered the logistics industry by joining Blue Dart at a young age. He gained immense experience and knowledge while supporting the founders by helping them grow the company to a market-leading position that it is today. It was a gratifying experience to bring together two household names – DHL and Blue Dart, together and strengthen the position of Blue Dart Aviation in the logistics industry.
He was involved in a much broader spectrum of the logistics & warehousing business; whether it be operations, service quality, security, IT, finance, strategy, or investor relations, He contributed to every segment that needed attention and expertise.
A hands-on experience while managing the ups & downs as a CFO at some of the world’s iconic logistics brands, cemented my vision of doing things more effectively. That’s when he knew he could do more, offer quality services and provide meaningful employment and wealth creation opportunities to the community in my own way.
Years of working in the logistics industry allowed me to have a broader view of what a new age customer would want. He wanted to bridge the gap between customer needs and quality services. With like-minded colleagues and business leaders, he started Smartr Logistics to address those needs and provide unique solutions to real problems.
The team behind Smart Express consists of a set of passionate industry veterans with expertise and valuable insight that drives their business smoothly. Their foundation is based on strong business capability and foresight.
Smartr Logistics – Name, Tagline, and Logo
Smartr Logistics Logo
Echoing the brand name – “Smartr Logistics”, the logo reflects a modern design inspired by the company’s mission to emerge as a tech-enabled multi-modal logistics network.
The logo is made of elements depicting technology & hardware to emphasize the importance of contemporary and new-age tech across all aspects of their company. The visual identity also symbolizes the connection outlining the chain of trust and reliability in the process.
Their taglines showcase the unique features of the product range.
“Never Lose track”, emphasize real-time end-to-end tracking of shipment for customers and “Choose Smartr, Move Smarter”, to simply appeal to their potential customers and stakeholders. They are paving the path for next-gen high-quality logistical services.
Smartr Logistics – Services
Smartr Logistics launched its first set of offerings – the Air Express service called Aerex.
Aerex Prime, Aerex Kargo and Aerex eComm and Intracity are the services a customer can choose from depending on their requirements. These services are designed to cater to multiple requirements ranging from delivering simple items such as gifts or documents to heavy and valuable cargo. They have also started a premium same-day interstate delivery service for select customers.
The unique features and USPs of these services differentiate Smartr Logistics from competitors. Apart from customization, speed, and technology; they consider customer care, transparent and real-time tracking, multiple delivery destinations, digital payment methods as their number one priority. To be on top of the game, they have a 24×7 customer support team available on call.
They believe in transparency and want customers and stakeholders to have full faith in them. Their pricing structure is simple and transparent, and customers pay only for the services used.
In just a few months, Smartr Logistics has expanded its operations to over 45 cities, reaching customers across India. Their goal is to create a strong network to help their customers and enable ease of doing business for India’s big and small businesses.
Additionally, the start-up has a strategic roadmap to launch an array of services including International Express/Freight, Surface Express, LTL/FTL and supply chain solutions (3PL) to support warehousing for B2B and fulfilment centres for B2C e-commerce.
They launched Smartr Logistics with over 65 service centres in 34 cities across India. Needless to say, the first three months were dedicated to intense research & development. We went all out hiring the right talent, setting up offices, selecting their locations, mapping their network throughout the country – all in the middle of a global pandemic.
They also had numerous brainstorming sessions to create and come up with “Smartr Logistics” creating a brand strategy that aligned with their common vision. Although we did not start in a garage or a backyard, the collective expertise of all the team members and founders involved, led to a stable and impactful unveiling of Smartr Logistics. They are everywhere since the inception of the company.
While they are not even a year old – Smartr Logistics has been addressing the gap between customer expectations and the services provided. They are already formulating new products, parallelly understanding the dynamics and requirements of the new – post-pandemic world.
Their services promise to close the gap as much as possible. Speedy delivery is their priority. They have already achieved same-day delivery for a route that would take a day at least for an average logistics provider.
They thrive on delivering excellent services in a transparent manner.
Smartr Logistics – Challenges Faced
Smartr Logistics was established to solve contemporary logistics challenges. The pandemic and the restrictions that came along with it threw in many curve balls and challenges, specifically for the logistics industry. As a new-age company, they have leveraged the opportunity to be tech-enabled and digitally advanced. Dynamics have changed and a new era has emerged, hence, we are on top of their game to deliver high-quality services, every time.
They launched their operations amid global lockdowns and heavy restrictions. The biggest challenge was hiring new talent across cities. With the connections and referrals of the co-founders, they hired 500 trusted employees in a span of four months.
That’s how they commenced operations and opened offices in 34 cities.
Smartr Logistics – Growth
Currently, their network covers 2000 pin codes in 45 cities with over 75 service centres. Their customer database grew invariably during the second lockdown, and they serviced businesses in various segments from B2B to B2C/ E-comm, BFSI and more.
With improving situations and lesser restrictions, Smartr Logistics continues to grow rapidly at 75 to 100 per cent month-on-month will expand. In the coming months, they will be covering over 6000 pin codes in 150 cities.
Smartr Logistics – Funding
Date
Stage
Amount
Investors
June 2021
Seed
INR 100 Crores
IIFL India Private Equity Fund and Smiti Holding & Trading Company (Jalaj Dani family office)/ Yogesh Dhingra, Founder, MD & CEO, Smart Express
Smartr Logistics – Competitors
They are aware that there are many players, big & small in this industry. Organized players Blue Dart, Delhivery, DTDC, EcommExpress, Xpressbees, Shree Maruti Courier, TrackOn, Professional Couriers. In e-commerce, we have competition from ATS and Ekart. Apart from these, there are a lot of regional and unorganized players in the industry.
Their dynamic technology and simplified digital processes differentiate them from their competitors. They will continuously improve their products and services to deliver the best results, every time.
Their biggest achievement has to be the same-day interstate express delivery. It is a milestone for Smartr Logistics. The accomplishment is a first in India’s express logistics industry, and we are determined to surpass customer expectations in the future as well.
Smartr Logistics – Future Plans
As a new age logistical company, they strive to improve every day in order to fulfil customer, stakeholders, and employee expectations.
For that purpose, they started with pan-India operations and plan to further expand their network and outreach. They are also working towards an international collaboration to commence reliable overseas express delivery.
Additionally, in the next six months, Smartr Logistics will venture into hyperlocal surface logistics that will increase their flexibility and subsequently start with 3PL, warehousing and fulfilment centres.
In a year, Smartr Logistics will be one of India’s leading logistical providers.
FAQs
Who is the founder of Smartr Logistics?
Yogesh Dhingra is the founder of Smartr Logistics and Arun Nangpal, M.D. Bassapa, Nikhil Kumar Saxena, Utkarsh Sharma are the co-founders.
When was Smartr Logistics founded?
Smartr Logistics was founded in 2021.
How many Smartr Logistics service centres are there in India?
There are 65 Smartr Logistics service centres in 34 cities across India.
One of the main issues students face while studying is that they fail to develop a clear understanding of concepts. This causes a lack of interest in studies. The solution to this problem lies in technology. With the use of technologies like AR, VR, AI, understanding even the toughest of concepts can be simplified.
Meet Embibe, a platform that is using technology to make learning fun. Embibe uses 3D videos and AI, to help students prepare for various schools exams, entrance tests, competitive exams, and Government exams.
Reliance-backed Edtech startup Embibe has established itself as one of the popular learning apps. The app offers a 3D interactive learning experience to the students. Embibe contains world-class content related to various courses, in the form of 3D slideshows and videos, which ensures that students need not rote any topic, but develops a clear understanding of every topic.
Students from classes 6-12, as well as students preparing for various entrance exams, competitive exams, and Government exams, can use the app. Besides offering courses for 6-12 for national and state boards of India, Embibe helps in the preparation of IIT JEE, BITSAT, NEET, VITEEE, and more. The app also helps aspirants prepare for Government exams like the SSC, Railway, Defence, and Insurance Exams.
Embibe ensures that students do not just learn the topics, but also gain expertise through practice. The platform helps students practice the concepts learned through a wide range of practice questions curated from hundreds of course and reference books. Students get guidance from the AI Bot ‘MB’ while solving the questions. Students can also take tests and get personalized feedback via the Embibe app, which helps them prepare better.
The best part about Embibe is the personal touch it provides. It is not a one size fits all platform. Embibe uses Machine Learning and AI to understand the current knowledge base and learning pattern of the students and suggests learning paths accordingly so that every learner can learn things at his own best pace possible.
Embibe also includes an app for the parents whereby parents can track the performance of their children on the Embibe app. Parents can track syllabus completion, check the feedbacks their children receive on Embibe, and much more.
Embibe is designed to run even on a low bandwidth internet so that students from rural areas where internet connection is slow can also use it effectively.
Aditi Avasthi is the founder and CEO of Embibe. She graduated with a B.E degree and later did an MBA from Chicago Booth. Aditi has years of experience, working with brands like TCS, Barclays, and Siemens, holding various technical and managerial positions.
Embibe Founder – Aditi Avasthi
Aditi embarked on her entrepreneurial journey with the launch of Embibe in 2012. Aditi like many youngsters in India dreamt of getting into IIT, but she missed the chance just due to a lag of a few points. This is one of the main causes that inspired her to start Embibe as a platform that can empower students to build their dream careers.
Embibe currently works with around 1800 + employees.
Embibe is operating with the mission to give every student the opportunity to be the best student they can be. While in our educational system Marks are used as a criterion to measure a student’s potential, Embibe is using Technology and deep data analytics to gauge the potential of the students and help them attain the best in their careers.
True to its vision, Embibe has helped many students from rural and backward backgrounds get into the best colleges around the world.
Embibe – Logo
Embibe – Logo
Embibe has raised a total of $196.7 million worth of funding in 4 rounds.
Embibe runs on a Freemium Model. Some of its features are free to use. Students can access some study materials, practice questions, and mock tests for free. Paid subscriptions come with added benefits like AI and ML-powered guidance for problem-solving and score improvement, and personalized feedback for every learner.
Embibe – Competitors
The top competitors of Embibe are –
Khan Academy
Founded in 2006 Khan Academy is a not-for-profit organization that provides free education on various subjects.
MeritNation
This online learning platform helps students from classes 1-12 grasp their studies better. With the help of technology, Meritnation designs a customized, self-paced learning experience for the students.
Toppr
Toppr helps students in the k-12 segment, as well as for competitive exams. Toppr also offers homework help apps. Toppr introduced a school operating system that helped schools run online during the Covid times.
Byju’s
Being one of the top players in the edtech segment, Byjus is a major competitor of Embibe. Byju’s caters to the learning needs of the k-12 segment, as well as provides tutoring for various competitive exams.
As per 2020 data, Embibe has over 10, 400 active users. The company has helped many students achieve their dream careers and thus has attracted the attention of investors. Reliance Industries holds an 85.38% stake in Embibe as of March 31, 2019. Some reports claim that Embibe’s Annual Revenue is $1.77M as of Dec 31, 2020.
In its bid to grow, Embibe has also acquired other edtech startups. Embibe acquired edtech startup 100 Marks in 2015. In 2019 Embibe acquired Funtoot, the world’s first intelligent and adaptive personal tutor for the K12 segment. In the same year, Embibe also acquired Test Preparation startup MockBank. In 2020, Embibe acquired Online Tyari, an online platform that helps students prepare for competitive exams.
By introducing new programs and through new partnerships, Embibe is all set to change and enhance the learning experience of the students.
Embibe – FAQs
Is Embibe Free?
Many Features of Embibe are free. Students can practice, take tests, and view lessons. But some features like personalized feedback, AI-powered guidance, etc are paid.
Is Embibe owned by Jio?
Yes, Reliance holds an 85.38% stake in Embibe.
Is Embibe Indian?
Yes, Embibe is an Indian company. Founded by Aditi Avasthi, Embibe is headquartered in Bangalore.
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 Next Education.
Technology is the core of the present economic world. Every domain of study ranging from the health to the service sector is evolving with the regularly updated technology. Similarly, educational sectors have gone through a major transformation in recent times due to technology. Once the rigid 2D notions of learning in classrooms equipped with a Blackboard are now replaced with digital 3D projections to enable a better understanding of the concepts among the students.
Next Education is one of the startup companies that pioneered the ed-tech sector way back in 2007, founded by Beas Dev Ralhan and Raveendranath Kamath. It is a K-12-focused technology-based education solution provider. Know about the Company Profile of Next Education, Founders, Funding, Revenue, Competitors, Business Model, Growth, Acquisitions, How it started, etc., in the article ahead.
Let’s go through the Journey of Next Education along with knowing Next Education Founder, Funding, Business Model, Competitors, Revenue & more…
Founded in 2007, Next Education is an optimal education solutions provider, based out of Hyderabad. Touching the lives of 12,000,000+ students and 240,000+ teachers across 12,000+ schools, their solutions serve multiple purposes of both academic and administrative domains.
Ranging from academic solutions such as TeachNext – a digital classroom solution and NextBooks – a complete textbook series to administrative solutions such as NextERP – a cloud-based school management system, Next Education is an end-to-end education solutions provider for the K–12 sector.
Next Education’s products aim to meet all the academic needs of a learner and make quality education affordable and accessible for every child. While doing so, their belief lies in partnerships with their employees, customers, vendors, governing bodies, and other stakeholders to strengthen the ecosystem over an extended period.
Every step Next Education takes ensures to bring quality education within the grasp of every learner so that younger generation mainly become life-ready.
“Entrepreneurship in the education sector was never about money-making. Keeping an organic approach towards academics to make learners future-ready and not just well equipped for competitive exams, was what we aimed for, which later became the core USP of Next Education.”, says Raveendranath Kamath, co-founder of Next Education.
Next Education rightfully understands that education is all about the holistic development of children pertaining to creativity, adaptability, and critical reasoning. It is about instilling the joy of learning and a hunger for knowledge in every young mind. This is the reason their academic solutions are well equipped with visually intriguing content and tools such as claymations, craftmations, and AR cards.
Next Education – Target Market
India’s education sector offers a great opportunity with approximately 29% of India’s population being between the age group of 0-14 years; is estimated at USD 91.7 billion in FY18 and is expected to reach USD 101.1 billion in FY20. India’s higher education segment is is expected to increase to USD 35.03 billion by 2025.
Seamless integration of content for effective learning and instruction, and smart administrative solutions for improved planning and reporting, has made the company one of the finest end-to-end education solutions providers in the country.
Beas Dev Ralhan and Raveendranath Kamath are the founders of Next Education.
Tech aficionados and brothers working towards the same goal of creating a social impact with technology, co-founded Next Education in 2007
Raveendranath Kamath and Beas Dev Ralhan – Founders, Next Education
Beas Dev Ralhan
Beas Dev Ralhan is the Chief Executive Officer (CEO) of Next Education. Ralhan received his formal education from IIT Bombay and London Business School. As the CEO of Next Education, he brings energy, inspiration, and direction to the company’s vision.
Raveendranath Kamath
Raveendranath Kamath, the Chief Financial Officer (CFO) of Next Education plays an integral part in financial planning, product engineering, and supply chain management of the organisation. An alumnus of IIT Kharagpur, Kamath has over two decades of experience in finance and operations.
Next Education has a team of around 1,000+ qualified and dedicated professionals with diverse skill sets, which have helped it establish itself as a known name amongst the academic stakeholders.
Next Education – Startup Story | How was Next Education Started?
His days at IIT Bombay made Ralhan realise that to make an impact on modern society, one has to build companies supported by the latest technologies and utilize the power of the Internet. Raveendranath Kamath, Ralhan’s friend and colleague at PartyGaming, had the same vision. Both of them desired to employ technology to make a social impact in India.
In 2007, a focused market study helped them realize that the Indian education sector was least impacted by technology. With technology as their ally, they wanted to devise innovative methods to make education accessible and affordable for all. Thus Next Education was born with a vision to transform education to suit the requirements of today’s learners.
“More than a decade ago, we had envisaged a not-too-distant future when quality education would be within the reach of every child. We had always dreamt of the day when quality education would no longer be the privilege of a few and our ardent desire to nurture and fulfill this aspiration keeps us motivated.”, recalled Raveendranath and Beas, founders of Next Education.
Next Education – Startup Launch
In 2009, Next Education launched their first product, LearnNext – a self-learning home-based solution for children. The response received for the product was overwhelming and there was no looking back for the team at Next Education thereafter. Next Education’s ecosystem has been steadily enriched with numerous solutions catering to different stakeholders belonging to the academic sector.
NextCurriculum, NextLabs, TeachNext, and NLP are the four vital parts of the Next Education ecosystem, which enhance the significance of learning by incorporating hands-on learning activities and a learner-centric approach.
Next Education’s flagship product, TeachNext, launched in 2010, has been a milestone in terms of digitization of classrooms nationwide. Recently, they have launched NLP, i.e. Next Learning Platform, which is a cloud-based solution equipped with NextERP, LMS, and adaptive learning, meeting all the requirements of academic and administrative stakeholders. The company also offers a teacher training solution for schools called NextDeeksha.
Next Education – Mission and Vision
Next Education aims to “put into practice the best teaching–learning methodologies that will help shape the lives of the torchbearers of tomorrow,” which the company underlines as its mission.
The vision of Next Education is “to bring quality education within the reach of every learner, so that they are prepared for the challenges in life.”
The company started in 2007 as Helix Technology Solutions Pvt Ltd, which was later renamed as Next Education aligning with the spirit of the brand and its products.
Next Education Logo
The name ‘Next Education’ stands for an edTech solutions provider for the next generation, capable of transforming education.
Next Education – Business Model and Revenue Model
Next Education India Pvt Ltd is an end-to-end edTech solutions provider that follows B2B and B2C business models. At Next Education, consistent effort is put to create solutions that meet all the requirements of academic stakeholders pertaining to school set-up, digitalisation of classrooms, implementation of activity-oriented education, administrative guidance and tools etc.
Next Education – Funding and Investors
Next Education raised the initial funding from Anurag Dikshit, co-founder of PartyGaming, who was ranked among the 40 richest Indians, according to ‘Forbes’ Magazine.
Next Education – Startup Challenges
Transforming education is not an easy task. A vast part of our country still follows the conventional methods of teaching and learning, which lays emphasis on teacher centered education. The slow device penetration rate, skepticism about embracing ed-tech products over traditional home tuition and lack of awareness among people regarding integrated education, were initial challenges faced by Next Education.
Hence, introducing innovative products and restoring the faith of people in the transformation formed the central approach towards meeting the challenges, and today, TeachNext is the top-selling digital classroom solution in India with a market share of 65% .
Next Education – Competitors
Next Education directly competes with companies such as BYJU’s, Extramarks, Educomp, Pearson, etc.
“At Next, we believe in healthy competition, as all of us are trying to harness the potential of the present generation of learners for a better tomorrow.”, said Beas, co-founder and CEO of Next Education.
Next Education – Advisors and Mentors
For Beas Dev Ralhan, his father is his best mentor, whose ideas, thoughts and values have inspired Ralhan to begin a startup – Next Education and work tirelessly with hope, motivation, perseverance and patience.
My father has been the most inspirational mentor throughout my life. His entrepreneurial endeavours and never-say-die attitude motivated me to start my venture and shape and nurture Next Education.
He taught me that patience is the key to run a business successfully, which I strongly believe and follow. When you are impatient, you tend to miss critical details and opportunities, which may lead to irrevocable mistakes.
Due to the fast-paced nature of today’s world, we value dynamic actions and quick solutions, but if this attitude morphs into impatience, it will cloud your judgement, ruin relationships and destroy your credibility in the market.
Next Education – Awards
Next Education received following awards and recognition:
Innovation in Teaching Pedagogy award at World Education Summit 2012
Best Multimedia Content for K–12 Education at World Education Summit 2013
Excellent Human Resource Management in Education Industry by National HRD Network
Best Digital K–12 Multimedia Content for Maharashtra State Board in English and Marathi by Wisitex World Education
Best School Books Solution Award at Global Learn Tech Conference and Awards
Best Emerging School ERP award at Digital Edge ICT Conclave on Education
Innovation in Teaching Pedagogy award at World Education Summit 2015
Innovation Excellence Award in Education by ASSOCHAM
Pre-school Pedagogy award at the World Education Summit 2016
“We, Nextians, are learners who embrace achievements with innate happiness and take failures as steps towards learning.” said the founders of Next Education.
Next Education has acquired 2 organizations. Their most recent acquisition was Xolvr on Dec 2, 2016.
Date
Acquired
About
Dec 2, 2016
Xolvr
Xolvr is a convenient & affordable community driven ‘after school study’ platform
Feb 11, 2016
InOpen
InOpen designs and develops educational content and solutions for academic institutions
Next Education – Growth
Next Education presently has an all-India presence and is headquartered in Hyderabad. Apart from Hyderabad, they have offices in Pune, Noida, Kochi, and Chennai. After establishing in the Indian education spectrum, Next Education is off to make its mark at the global level. Since 2016, they have been expanding their business in the Middle East. In early 2019, Next Education has opened a branch in Dubai.
Currently, Next Education is the largest player in the highly concentrated Indian Private K-12 digital classroom sector. The company has reached out to 60,000+ classrooms since the year of inception and has a turnover of 276 crores in FY 19.
“Our main motive is to create solutions for schools that positively impact the education system and help the next generation have a better tomorrow.”, said Raveendranath and Beas.
One of the oldest and the most successful education solutions provider, Next Education has launched Kindernext on October 16, 2019, on the completion of the twelfth year of its operations. This new initiative is launched with an aim to stand as a smart preschool and activity center for 21st-century learners, which will extend fun and interactive space to the young students, thereby advancing their development and honing their desire to be lifelong learners.
Here’s a glimpse at the highlights of the popular features of KinderNext by Next Education:
It is a smart preschool and activity center that is tailor-made with vibrant textbooks, an award-winning digital classroom, detailed mentor manuals, and smart resource kits.
It follows a research-based integrated approach towards learning, laying equal emphasis on developing the five key areas: linguistic, cognitive, physical, social, and emotional.
The curriculum of KinderNext is centred on NCF guidelines for early childhood education.
KinderNext is designed to provide young learners with the right care and attention to foster curiosity and confidence in them. Its distinct features like multimodal learning, explore-and-play technique, and age-appropriate learning approach can help students gain a rich learning experience and ensure continuous progress towards their desired goals.
Speaking on the launch of KinderNext, Next Education Co-founder and CEO, Beas Dev Ralhan said thatKinderNext, with impactful technology, best faculty, and new-age curriculum coming together, is favorable for all its stakeholders – the young students, parents, and schools.
Next Education – Future Plans
Next Education has achieved quite a growth since it started in 2007. The startup believes continuous innovation and becoming a one-stop solution are the way forward.
Next Education – FAQs
What is Next Education?
Next Education is an edtech startup launched in 2007 by Beas Ralhan, Raveendranath Kamath in Noida, UP, which believes in embracing technology to revolutionise the education system of India. All of the products and services that Next Education offers are learner-centric and classroom-friendly.
Who is the founder of Next learning platform?
Beas Ralhan and Raveendranath Kamath are the founders of Next learning or what we commonly refer to as Next Education.
How is Next Education transforming education?
Next Education is fueled by the latest technological advancements, expert teachers, and over 10,000 impactful learning modules, which greatly help the company to transform education.
Company Profile is an initiative by StartupTalky to publish verifiedinformation ondifferent startups and organizations. The content in this post has been approved by Lo! Foods.
Taste and health never seem to go hand in hand. The Indian diet, especially snacks, is full of carbs and fat. Despite being conscious about the possible harm these snacks can cause to our health, it’s hard to resist that innate temptation to grab a bite of our favorite snack for something to munch on. So, what’s the other option?
Do you choose health over your favorite mathri or murukku? Or do you let go of your diet to feast on those tasty snacks? Nah, there’s no need to be selective. The option is to choose Lo! Foods.
Lo! Foods brings serves your favorite snacks in a healthy avatar so that there’s no longer the need to compromise between taste and health.
Lo! Foods is an FMCG startup founded in 2019, whose headquarters are situated in Bangalore. It manufactures a wide range of healthy Indian snacks. The company provides the widest range of low-carb and keto-friendly packaged foods in India. This includes namkeens, mixtures, biscuits, and desserts—many of these being the only of their kind i.e. a low carb/keto-friendly version in India. Lo! Foods also offer low-carb atta.
We have unique, technically superior formulations that have been developed after months of R&D. This makes our products the tastiest Low Carb Health products in the market. No other product comes close. Our range is also unique and Indian. Also, due to the nature of our formulations, we are also 35-40% cheaper than equivalent products in the market.
Lo! Foods – Industry Details
The healthy food and beverage sector in India is blooming and is poised to register significant growth in the years to come. In 2010, the health and wellness food market was worth INR 9,000 crore which reached to INR 10,352 crore in 2016; it continues to witness rapid growth.
Lo! Foods with its healthy range of food products want to make a positive difference in the lives of the Indian diabetic population. India currently has around 77 million diabetics, and the number is expected to cross 100 million in the next few years.
Lo! Foods – Founder
Sudarshan Gangrade
Sudarshan Gangrade, Founder of Lo! Foods | Lo! Foods Startup story
Sudarshan Gangrade is the founder of Lo! Foods. He was formerly the Head of Marketing at Ola. Sudarshan is a seasoned serial entrepreneur with vast experience in successfully running companies with expertise in growth, marketing, and analytics. An alumnus of IIT Kharagpur and IIM Bangalore, Sudarshan has been part of India’s e-commerce ecosystem right from its early days. An active sportsperson, he co-founded LeanScience—a boutique Diet and Fat Loss Consulting organization—in his most recent stint. A few years back, he quit his job and joined as a full-time volunteer in Nandan Nilekani’s team that was building the Aadhaar project. At Ola, Sudarshan helped build a viable transportation system for the Indian public.
Lo! Foods – Startup Story | How It Began?
Lo! Foods was conceived in response to the genuine concern Sudarshan had for people struggling to lose weight and be fit. Before starting Lo! Foods, Sudarshan had co-founded a boutique health and fat loss nutrition consulting firm called LeanScience. During that time, he got a chance to see up-close the struggles of people trying to lose weight and the problem of obesity in general.
Sudarshan observed that it was quite challenging for people to stop eating their favorite food and resort to bland and tasteless stuff in the name of fitness. Thus, the idea of providing consumers with a range of products that is healthy and yet tasty came to his mind and he was confident about the success of the same.
“Our thesis has been proved right. In the beta phase, we have seen our products flying off the digital shelves. Top Health platforms have joined hands with us to launch Lo! Foods. The response is really encouraging. Our repeat customer ratio already stands at 35% and we are yet to launch at a large scale” says Sudarshan.
Lo! Foods – Name And Logo
Lo! Foods’ logo | Lo! Foods Startup Story
The name Lo! is a play on the words Low Carb.
The “!” (exclamation mark) in the brand name was planned from the day the idea to start Lo! Foods was conceptualized. The ! was added to the name so as to give a pleasant surprise to consumers when they pronounced it.
Lo! Foods is indeed giving a pleasant surprise to consumers through its unique range of healthy Indian snacks!
Lo! Foods – Products
Lo! Foods offers a wide range of Indian snacks which not only taste good but are good for the health too. This food startup offers a healthy variety of namkeens, desserts, and bakery products.
We are already seeing customers across the spectrum actively cutting down carb consumption by reducing intake of ingredients like sugar, maida, rice and potatoes. We want to present them with a range of options where they don’t have to compromise on taste and their love for Indian snacks.
Lo! Foods – Revenue Model
Lo! Food’s products start at INR 35. The price differs depending on the product and quantity. The company makes a profit from the sales.
Lo! Foods – Funding And Investors
Lo! Foods raised seed funding worth $500k on August 22, 2019 from various angel investors. Some of the angel investors who took part in the funding round are Anuj Golecha (co-founder, Venture Catalyst), Raveen Sastry (co-founder, Myntra), Rashmi Daga (founder, Freshmenu), Sunil Chhabra (advisor and founding team member), Jumbotail, and Mitesh Shah (CFO, BookMyShow).
Before that, it had raised close to $300K in a Seed round led by Venture Catalysts on February 1, 2019. The last round that Lo! Foods saw, came from another Seed round dated April 16, 2021, with the help of which the company successfully raised $1 mn.
As said by Lo! Foods owner Sudarshan Gangrade, the funds raised will be used for expanding product portfolio and scaling up the brand’s distribution.
Lo! Foods – User Acquisition
Lo! Foods is not operating on a large scale yet. The company did a beta launch on its website and a very basic announcement on social media. Most of the customers the company has gained till now are purely through word of mouth publicity.
Lo! Foods is now live on Swiggy and other key e-commerce platforms. It has also tied up with the top health platforms in India to expand its customer base. In July 2019, Hyatt Place (Hyderabad) tied up with Lo! Foods to launch its low carb and keto friendly menu. This launch was executed on the Hyatt Place Hyderabad/Banjara Hills, a property of the renowned restaurant chain, Hyatt. The menu consists of Low Carb & Keto-friendly dishes, which include pastas, burgers, paninis, and desserts, which have been made with the help of Lo! Foods Atta. This specially curated menu is made available from July 10th, 2019 onwards and will include a range of all-day eating items like Paneer Kathi Roll, Grilled vegetable Panini, Carb friendly pasta, and desserts like Go Low Brownie.
Lo! Foods – Startup Challenges
Product development was the most challenging part of establishing the venture. The Lo! Foods team wanted to create healthy options while retaining the look and taste of traditional Indian snacks. It took almost 6 months of R&D and an intensive collaboration between a team of food technologists and nutritionists to come up with the right products.
Lo! Foods – Competitors
Though many companies are selling healthy snacks, Lo! Foods is differentiated from its competitors through its wide range of healthy Indian snacks. Britannia and Nilgiris are the director competitors of Lo!Foods.
There are many health-focused products available in the market. But we believe since none of the current options are catering to Indian taste palate, we are the only one in the space with one of its kind line of products – Sudarshan says emphasizing on Lo! Foods’ USP.
Lo! Foods – Growth
Within a short time, Lo! Foods have been able to attract a loyal fan base. It has various tie-ups in place and caters to more than 35% of repeat customers every month.
“We are ready for our next phase of growth. FMCG products are all about Product and Distribution. We have built a great product. We are in the phase where we now need to reach a large market, very quickly”
Lo! Foods – Future Plans
Lo! Foods’ mission is to reduce the incidence of diabetes and cardiac-related diseases in India by 5 million before 2023. The company plans to do this by reducing the overall consumption of carbs, an approach proven to help in weight loss and prevention of lifestyle-oriented diseases such as diabetes and high blood pressure.
FAQs
Who is the Founder of Lo! Foods?
Sudarshan Gangrade is the founder of Lo! Foods. It was founded in the year 2019.
What does Lo! Foods specialize in?
Lo! Foods sells snacks that are low in carbs and diabetes-friendly.
Is Lo! Foods an Indian Company?
Lo! Food is an Indian Company, founded in 2019.
Who is Sudarshan Gangrade?
Sudarshan Gangrade is the founder of the low carb and keto-friendly food products brand, Lo! Foods, which has been founded in 2019 and is headquartered in Bengaluru, Karnataka, India.
Foxconn, or Hon Hai Precision Industry Co Ltd, is the biggest global electronics manufacturing company. Based in Tucheng, Taiwan, Foxconn is the name that manufactures electronics items for many well-known American, Chinese, Canadian, and Japanese companies. Popular products manufactured by Foxconn included iPad, iPod, Kindle, BlackBerry, Nokia devices, Sony devices, and even Apple’s iPhone. Of late, Foxconn has also ventured into the auto manufacturing industry. Let’s explore more about this electronics manufacturing giant.
Foxconn Technology is a Taiwanese multinational electronics contract manufacturer that specializes in the manufacturing of computer, communications, and consumer electronics goods. In 2010, Foxconn was the world’s largest electronics manufacturing service provider and the third-largest technology company in terms of revenue.
Foxconn manufactures a wide range of products. Metal shells, structural components, thermal modules, gaming console assembly goods, Desktop computers, notebook computers, tablet computers, servers, mobile phones, projectors, e-book readers, digital cameras, and workstation radiators are some products that Foxconn produces for its clients. The company’s goods are mostly distributed in China, the United States, and Japan.
Other countries where the business has built R&D and production facilities include China, India, Japan, Vietnam, Malaysia, the Czech Republic, the United States, and others. The firm has over 83,500 patents and focuses on research and development.
Foxconn is committed to supporting environmental sustainability in the manufacturing process and serving as a best-practices model for global organizations, in addition to optimizing value creation for clients.
Over the years, Foxconn Group has expanded not only its capabilities into the development of electric vehicles, digital health, and robotics, but also three key technologies – AI, semiconductors, and next-generation communications technology – by leveraging its expertise in Cloud Computing, Mobile Devices, IoT, Big Data, AI, Smart Networks, and Robotics/Automation.
Foxconn – Latest News
January 10, 2022 – Foxconn announced to reopen its Sriperumbudur factory in Tamil Nadu on January 12, 2022, as per the statement of Sriperumbudur MLA, K Selvaperunthagai to the assembly.
In August 2021, Stellantis, a global automaker, and Foxconn announced a joint venture to develop a “smart cockpit” for automobiles that would include navigation, voice help, and payment services. The joint venture between Foxconn and Stellantis, called ‘Mobile Drive’ will make the smart cockpits available to other carmakers.
“Its roadmap of software innovations will include artificial intelligence-based applications, navigation, voice assistance, e-commerce store operations, and payment services integration, amongst others,” the companies said in a joint statement.
Hon Hai Precision Industry Co., Ltd. or Foxconn was founded by Terry Gou in 1974 as an electrical component maker.
Terry Gou
Terry Gou is the founder and CEO of Foxconn. Born on 18th October 1950, Terry Gou is a Taiwanese billionaire businessman. After graduation, Gou worked with several factories before founding Hon Hai (Foxconn’s parent company) in 1974 in Taiwan. Hon Hai started as a plastic part manufacturer for television, with just 10 elderly workers.
Foxconn Founder & CEO – Terry Gou
Today, Foxconn is the world’s biggest contract electronics manufacturer, employing 1.2 million people in mainland China, and serving as China’s largest private employer and exporter. It has plants in various countries, the majority of which are located in mainland China.
Foxconn – Startup Story
Terry Gou founded Hon Hai (Foxconn) in Taiwan in 1974 with $7,500 in seed money and 10 older labourers, working out of a leased shed in Tucheng, a Taipei suburb, producing plastic parts for television sets. In 1980, he received an order from Atari to create the console joystick, which marked a turning point in his career.
In the 1980s, he extended his firm even further by going on an 11-month road tour across the United States in pursuit of new clients. Despite having security called on him numerous times, Gou was able to break into many organizations uninvited and obtain further orders as an aggressive salesperson.
He built his first plant in mainland China, in Shenzhen, in 1988, and it is still his largest factory today. When Gou vertically integrated the assembly process and work facilities in China, operations grew dramatically. The factory site was transformed into a campus including accommodation, dining, medical care, burial for the workers, and poultry raising to supply the restaurant.
Hon Hai began producing Compaq desktop chassis in 1996. This was a watershed moment, and it led to the development of bare-bones chassis for other high-profile clients including HP, IBM, and Apple. Foxconn evolved to become a consumer electronics behemoth in just a few years.
Foxconn’s vision statement says, “Creating comprehensive smart living experiences for our customers across the globe.”
Foxconn’s mission statement says, “To ensure all employees to take active roles in meeting company’s global targets, by decomposing them into departmentally distributed realistic targets/ To ensure a reliable organization and discipline where all employees will be glad to be a part in/ To act continuously on increasing the turnover by considering the principle of “Win-Win”/ To ensure the use of all resources effectively and efficiently/ To create a clean, healthy and safe production and work environment which respects to human and considers the next generations.”
Foxconn – Logo
Foxconn Company Logo
Foxconn – Business Model and Revenue Model
Mass Manufacturing
Foxconn serves as a component supplier to several OEMs. It focuses on the mass manufacture of specialized parts for electrical goods in this section. It may reach huge economies of scale by focusing on certain components, making total manufacturing cheaper.
Contract Manufacturer
Foxconn also serves as a contract manufacturer for corporations like Apple. This enables Apple to mass-produce its goods using Foxconn’s massive manufacturing facilities and low-cost facilities. By providing contract manufacturing, Foxconn helps its clients to avoid the high costs of constructing their own production facilities.
Low-Cost Manufacturing Provider
When acting as a contract manufacturer, Foxconn provides clients with fully integrated solutions that encompass the whole production process. In this way, it reduces production costs per unit by leveraging its low-cost manufacturing knowledge and the scale of its manufacturing facilities. It can manufacture items for its clients, such as the Apple iPhone, for less than Apple could produce it directly, thanks to its whole service offering.
Whitelabel Manufacturing
In addition to private label manufacture, which Foxconn conducts for Apple through contract manufacturing, it also provides white-label items. These are usually not branded with Foxconn’s logo, but rather with the distributor’s, and sold to a variety of distributors. Because the underlying technology is identical, this enables these generally low-priced electronic items to be made on a larger scale and hence at a cheaper cost than if they were produced by a single distributor.
Foxconn – Employees
Terry Gou – Founder
Alan Yeung – Director US Strategic Initiatives
Fang Ming Lu – GM Asia-Pacific Region & Board of Directors (Hon Hai
Precision Industry Co. Ltd)
Min Chih Chuo – Corporate Supervisor
Louis Woo – Executive
Daniel Ying-Tso Lai – Senior Deputy Manager
Aymar de Lencquesaing – Vice Chairman
Jack Lee – Founding Partner, Executive Director
Foxconn – Challenges Faced
Foxconn’s labour policies were being scrutinized again and again. According to an investigation by China Labor Watch, a New York-based labour advocacy group, and The Observer, a British newspaper, a Foxconn facility in Hengyang, China, breached labour regulations. Amazon’s Echo smart speakers and Kindle devices are made at this facility.
Foxconn said that it was “carrying out a full investigation of the areas raised by that report.” The company added that it “works hard to comply with all relevant laws and regulations” in the markets where it operates and that “if infractions are identified, we work to immediately rectify them.”
Here’s an overview of some of the problems allegedly plaguing Foxconn’s factories:
Suicides are a common occurrence – In 2010, the firm was rocked by a wave of employee suicides. Since then, there have been further occurrences.
The exploitation of wages and working hours – Foxconn was accused in 2012 of underpaying its workers and forcing them to work long hours. As a result, the firm has promised to shorten shifts and boost salaries.
Serious Accidents – An electric shock in 2011 left one Foxconn employee with neurological damage. In the same year, an explosion in a factory killed four people and wounded another 18.
Workers under the age of 18 and those working illegally – In 2012, Foxconn acknowledged employing minors as young as 14 at one of its facilities. Late this year, Apple acknowledged that student employees were found working overtime at a factory where the iPhone X is produced, in contravention of local rules.
Riots are a common occurrence -. In 2012, a major riot involving over 1,000 workers occurred at one of the company’s plants.
Poor living conditions – In 2012, the New York Times stated that three-room staff flats could house up to 20 workers.
For its part, Foxconn has attempted to solve problems as they arise, making its workplaces safer and raising compensation to boost morale.
Foxconn – Funding and Investors
Date
Round
Amount
Lead Investors
Apr 4, 2017
Series B
$20M
Sprint Vc
Foxconn – Investments
Foxconn Technology Group has invested in 74 companies. GyroGear, which raised £3.1 million on February 25, 2021, was their most recent investment. Below are some major investments made by Foxconn.
Date
Organization Name
Round
Amount
Feb 25, 2021
GyroGear
Seed Round
£3.1M
Jan 19, 2021
Kneron
Venture Round
–
Sep 22, 2020
SigmaSense
Series A
$22M
Aug 6, 2020
Yungongchang
Series B
CN¥100M
Jan 16, 2020
Nanox Imaging
Series B
$26M
Jan 8, 2020
Zap Surgical Systems
Private Equity Round
$81M
Sep 4, 2019
Light
Seed Round
–
Apr 11, 2019
PENSEES
Series A
CN¥150M
Mar 21, 2019
Yungongchang
Series A
–
Jan 29, 2019
StormForge
Series A
$5M
Foxconn – Mergers and Acquisitions
Acquiree Name
About Acquiree
Date
Amount
Sonder Design
Sonder seeks to create beautiful products that delight, surprise & connect with its customers.
Dec 1, 2019
$9.8M
Moran Cognitive Technology
Founded in May 2016, located in 768 Creative Industrial Zone, Haidian, Beijing, China
Aug 22, 2018
$10M
flnet.com
flnet.com is an e-commerce platform for tablet PCs, laptops, one machine, portable TV, LCD TV, etc.
May 25, 2017
CN¥2B
SMART Technologies
SMART Technologies develops interactive whiteboards and group collaboration tools for classrooms and meeting rooms.
May 26, 2016
$200M
TeleEye
TeleEye is a surveillance camera developer company.
Apr 13, 2016
$203.7M
Sharp
Sharp is engaged in the manufacture and sale of electric telecommunication, electric, and electronic equipments.
Mar 30, 2016
$3.8B
SoftBank Group
SoftBank Group is a holding company focused on artificial intelligence and other emerging technologies.
Feb 27, 2016
$600M
Ennoconn Corp
Ennoconn Corp is an Industrial motherboard designer and a total hardware system solution provider to various vertical market applications
Jan 1, 2007
–
Foxconn – Growth
Foxconn forecasted a 10% increase in revenue in 2021, owing to “stronger than projected” sales of smartphones, particularly the new iPhone 12, and telecommuting gadgets, as a result of the coronavirus-induced work-from-home trend. Foxconn’s stock has climbed by about 41% this year(2021).
Foxconn reported NT$5.35 trillion in revenue in 2020, which is around $192 billion in U.S. dollars. Since its inception, the firm has earned several worldwide honours and recognition. In the Fortune Global 500 rankings for 2020, the firm was placed 26th and 25th in the Top 100 Digital Companies in the Forbes list of the World’s Best Employers for 2019.
Jabil, Toshiba, NN LABS, TDK, and Celestica are among Foxconn’s competitors.
Foxconn – Awards and Achievements
Recent awards and achievements of Foxconn:-
2017 – Shortlisted in Forbes World’s Best Employers, Announced Key Strategic Tenets of Cloud Computing, Mobile Terminals, Internet of Things (IoT), Big Data, Artificial Intelligence (AI), High-Speed Networks, and Robots, Foxconn Interconnect Technology listed on the Hong Kong Stock Exchange, U.S. Flying Eagle Program launched.
2018 – Clarivate Top 100 Global Innovators – awarded in 4 consecutive years – only Taiwan’s private enterprise on the list, Foxconn Czech Republic Ranked 2nd in the Czech Republic Top 100 Companies, Foxconn Industrial Internet (Fii) listed on A shares in the Shanghai Stock Exchange.
2019 – Ranked 25th among Forbes Top 100 Digital Companies.
2020 – Ranked 26th among Fortune Global 500 rankings.
Foxconn – Future Plans
Hon Hai Precision Industry Co. has announced intentions to develop its embryonic cars sector to counteract decreasing growth in its main consumer electronics assembly industry. Foxconn however has no plans to sell these vehicles under its own brand but will manufacture them for other car brands.
The firm unveiled its first electric vehicle chassis as well as a software platform geared at assisting EV manufacturers in bringing models to market more quickly. The business also stated that by 2024, it intends to develop a solid-state battery that may replace lithium-ion batteries in electric vehicles.
As told by Foxconn Chairman Young Liu, the business is aiming for a 10% share of the EV market by 2025, with roughly 3 million vehicles utilizing its platform.
Hon Hai said earlier this year that it will form a joint venture in China with Fiat Chrysler Automobiles NV to develop and manufacture electric vehicles. It’s also forming an electric car design cooperation with the Yulon group’s Hua-Chuang Automobile Information Technical Center. Tesla Inc. presently receives certain components from the Taiwanese firm.
By 2025, the company hopes to increase its gross margin to 10% through automotive and other new operations.
Foxconn was founded by Terry Gou. He is the Chairman and Chief Executive Officer of Foxconn.
What does Foxconn do?
Foxconn Technology is a Taiwanese multinational electronics contract manufacturer that specializes in computer, communications, and consumer electronics goods. Metal shells, structural components, thermal modules, and gaming console assembly goods are all available from the company.
Is Foxconn multinational?
Yes, Foxconn is a multinational electronics contract manufacturer.
When was Foxconn founded?
Terry Gou established Hon Hai in Taiwan in 1974.
What is the other name of the company Foxconn?
Foxconn is also known as Hon Hai.
Is Foxconn a Chinese company?
Foxconn is a Taiwanese multinational electronics contract manufacturer headquartered in Tucheng, New Taipei City, Taiwan.
Which companies do Foxconn compete with?
Jabil, Toshiba, NN LABS, TDK, and Celestica are among Foxconn’s competitors.
I know your mind has started humming that jingle. Earlier, people used to love singing Vicco’s jingles, just like they did movie songs and we still do that whenever we spot a Vicco product. Such jingles are referred to as classic jingles, and each memorable jingle or music has a fascinating past.
Its jingle made it the most renowned and well-liked brand in every home. Everyone loved their products, whether it was their lotion or toothpaste. Vicco modified its branding and marketing strategy in light of newly emerging trends. However, the fact that it was a herbal product remained unchanged. Vicco continues to operate given the ongoing competition because of its USP.
Keshav Pendarkar founded Vicco in 1952. In Nagpur, he was running a local ration shop. We all possess high aspirations and are striving to achieve them. We all desire to attain more ambitions in life, and Keshav was no exception. As a result, he relocated to Mumbai with his family and began working for his goal.
He soon began his business in a modest godown, producing chemical-free teeth cleaning powder for folks of all ages. He devised this strategy since it is something that would be used daily and by anyone. As a result, the possibilities of it being famous were higher, and that’s what prompted him to manufacture a product like this.
Keshav and his sons practised door-to-door sales because they had no other way to promote their products. Vicco teeth cleaning powder, derived from 18 different medicinal herbs, gained popularity over time, and the Pendharkar family decided to establish their business.
In 1952, Keshav was thinking about the future and observed that folks were using toothpaste instead of tooth powder to clean their teeth. Keshav requested his son, Gajanan Pendharkar, a pharmacist, to create toothpaste out of the medicinal herbs. So Vicco never used any chemicals in their toothpaste as some kinds of toothpaste had fluoride, which might have posed health issues if swallowed by the user.
They didn’t want anyone to get sick from using their toothpaste. They eventually received a positive reaction to their products, but Keshav passed away in 1971. Gajanan Pendharkar, his son, continued his father’s business. The company’s turnover was approximately Rs 1 lakh at the time, and Gajanan was the one who transformed it from an ordinary brand to India’s most renowned brand.
Vicco – Marketing strategy
Vicco’s skin products have always been yellow, symbolizing the brand’s long-lasting relationship with turmeric and its effects on perfect skin, whilst the logo depicts antiseptic aspects.
Many domestic and global care products were still making their way into India in that era. Vicco seized this chance to establish a foothold because customers demanded speedy solutions. It launched a product named “Vicco Turmeric” cream that resided in the hearts of youth suffering from acne who couldn’t wait for a long-term cure. It also claimed that this product blocked the absorption of damaging ultra-violet radiation.
There was no guarantee that it could survive in the market since it was chemical-free and was made just from turmeric and other medicinal herbs. People were concerned that the cream’s yellow tint would turn their faces yellow.
This issue was solved by requesting the salesperson to test the cream on the cheeks of the merchants and then showing customers the outcomes in a mirror. Now, we know Vicco Turmeric’s marketing adventure has been filled with new ideas.
The firm opted to use television to reach potential customers. Only Doordarshan was available on television during those days. Gajanan Pendharkar used a distinctive manner of presenting its company. He spoke with the producers of the TV show “Yeh jo Zindagi hai,” which led to Vicco’s commercial being aired during the show’s broadcast.
It was the first brand to sponsor a television show just so their jingle could be broadcast repeatedly, and this was called “marketing blitzkrieg” meaning “doing your branding on multiple platforms at the same time.”
Folks used to buy videotapes to see movies during those days, and Vicco transmitted its jingles in local dialects on those tapes as well. Indians residing in other countries bought the tapes, hence more people became aware of the brand.
The ads claimed that the lotion is good for the skin and elegance, highlighting the therapeutic benefits of turmeric as found in Ayurveda. Vicco Turmeric Skin Cream was marketed as a blend of turmeric’s antibacterial qualities and sandalwood oil’s calming and refreshing effects.
Aside from promoting a healthy, bright complexion, the commercials also showed ways it could be utilized as a medication to treat cuts and bruises, acne, and burns.
In the meantime, the firm’s advertisement for Vicco Turmeric WSO Skin Cream focused on the medicinal benefits of turmeric for skincare, while the exclusion of the pricey component of sandalwood oil made it economical perhaps to the general public.
Although Vicco Turmeric Skin Cream has lost its competitive edge due to the success of its rivals, the firm has been utilizing platforms such as tv and radio to inform the masses about the importance of Indian herbs and their significant uses.
Vicco has recently introduced skin moisturizers, sunscreens, and oil-based lotions to cope with the present while remaining a subtle but important aspect of our culture.
Vicco is now attempting to reposition itself as a youth-oriented brand. They recently signed Alia Bhatt as the face of their Vajradanti toothpaste and worked with her on ads.
Vicco – Vicco vs Central Excise
Vicco Vajradanti and Vicco Turmeric Skin Cream were not qualified to be categorized as herbal remedies, as stated by the business, and were rather identified as cosmetics by the Central Excise Department in 1978.
Vicco Labs, not accepting the department’s claims, filed a lawsuit in Civil Court to oppose the allegation. On the 6th of May, 1982, the court ruled in Vicco’s favour, declaring that these goods were “ancient herbal formulations and not cosmetics.”
When the Excise Department denied the ruling and initiated a lawsuit, the situation became even worse. They took the case to the high court, but the high court too ruled in support of Vicco stating that since it was herbal medicine, no tax could be levied. However, in that period, a tax and central excise reform were introduced, and this new central excise tariff act 1985 was adopted in 1986, and once it was enacted, a second trial was started, this time by central excise on Vicco, and that case lasted several years.
Finally, in 2007, the verdict of this long legal dispute was announced. The Judge ruled in favour of Vicco and that cosmetic taxes cannot be levied against them, they must be abolished.
The essence of the story, however, is how a lawsuit prompted the business to communicate and present the brand as ayurvedic rather than cosmetic, which was lauded as one of the smartest approaches in the sector.
Vicco – The lawsuit’s Response
Is Vicco’s product Ayurvedic or cosmetic? That was the question at the inception of this judicial dispute. To respond, Vicco explicitly stated in the jingle, “Vicco turmeric, Not cosmetic; Vicco turmeric ayurvedic cream.” Although it is a classic jingle, it was created with the most basic line anyone could imagine. That is why, over time, even the most basic things can become iconic. So try to keep it simple.
Vicco – Business expansion and Product Diversification
Did you know that Vicco’s current turnover is over 500 crores? It has built factories in Dombivli, Nagpur, and Goa to expand its business. However, in 1986, Sanjeev Pendharkar understood that his pharmacy diploma would not be enough, so he pursued a management and law course to help the company flourish.
They began as a small tooth powder firm and have since expanded to include a diverse product portfolio such as Vicco Vajradanti paste, Vicco turmeric cream, Vicco sugar-free paste, Vicco foam base, Vicco turmeric facewash, and so on. The firm exports its goods to 30-40 nations worldwide.
Vicco – Awards
In 1980, the company received an “International trade trophy award”.
Vicco was ranked 28th among India’s most trusted brands according to the Brand Trust Report 2012.
Vicco – Media Presence
Vicco can also be found on all sorts of digital media. The firm is actively organizing its advertising and promotion activities in this digital era. Besides launching ad campaigns like #NoFilter on Instagram, the firm has been consistently maintaining its social media presence with frequent posts and influencers.
Vicco Turmeric is a frequent online coach for natural and brighter skin with brief lesson clips thereby placing Ayurveda in the spotlight, developing content to connect with people.
Vicco’s marketing adventure has fostered and revived the spirit of therapeutic remedies and perks in this modern era, by it being the lead promoter of Ayurveda and using herbal supplements in its products. It has proven to be a fighter in the face of severe rivalry from multinational cosmetics companies, and this outlines the brand’s branding and promotion tale.
I hope you found this story behind the Vicco jingle interesting.
FAQ
Is Vicco company closed?
No, the company still sells its paste, face wash, and other products. The revenue of the company was Rs 190 Crore in 2021.
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 ePayLater.
While there was a time when people used to borrow money only for fulfilling major goals like building a house or starting a business, the scenario is quite different today. Millennials today do not hesitate to borrow for meeting their lifestyle goals like shopping or travelling.
As per a report published by Paisabazaar, India’s largest digital marketplace for financial products, credit awareness in Indians is on a steady rise. According to the report, the young salaried segment of Indians have more credit awareness, maintain better credit scores, and are more confident about borrowing money.
Again, a recent report by digital lending platform, India Lends says that there has been a 55% growth in personal loans for travel purposes.
Considering this shift from the ‘save first’ philosophy to the ‘consume first and pay overtime’ way of life, and to fulfill the aspirations of the new Indians, ePayLater, a Fintech startup is providing short-term credit at the point of sale. The startup also meets the short-term credit needs of small businesses. Here’s the success story of ePayLater covering all about the startup, its Founders and Team, Name and Logo, Funding and Investors, Revenue Model, Competitors, Growth, Awards and Recognition, Future Plans and more.
ePayLater is a checkout lending platform, which provides credit at the point of sale. ePayLater offers the simplest possible checkout experience in existence today, providing customers with the ability to conclude a transaction with just a click of the mouse or a tap of the touchscreen.
It is a ‘Buy Now, Pay Later’ solution through which customers can get access to an instant credit limit to make faster purchases, that too without having to pay at the same time.
There are two Major Product Lines of the Company –
Providing short-term credit at the point of sale for consumers shopping for their personal needs.
Here, ePayLater enables a “Buy Now, Pay Later” solution for frequent online purchasers with an interest-free credit term of 14 days. ePayLater has partnered with IRCTC, PVR, MakeMyTrip, Yatra, Easemytrip, Tata Croma, Travelyaari among many others.
Providing short-term credit for individual retailers for their business needs.
The service involves no hidden cost and the credit line extended is completely collateral-free. This allows businesses to continue providing services to their customers and achieve higher sales through faster inventory churns. ePayLater provides businesses credit in the form of a line of credit, short-term loans, and merchant cash advances.
Driving volume is always key to merchants. However, payment failures result in a drop in volume and this is generally not in the hands of the merchant. A typical payment process involves going to a payment gateway, then to a bank, then the user is sent back from the bank to the payment gateway, and then to the merchant.
One-click checkout
If there is an issue at any link, the payment fails. Many times the user may not even return to the merchant and can’t even retry. This problem is completely eliminated by ePayLater by providing 1 click checkout.
ePayLater also counters the high incidence of cash in P2M ( Person to Merchant) transactions. For customers who prefer cash-on-delivery, ePayLater gives customers the same benefits (like receiving the goods before deducting payment) in a cashless manner.
For offline transactions, where cash is predominant in India, ePayLater’s UPI based solution gives customers an incentive to move away from cash since one can transact on credit.
High success rate and transaction security
Further, the time and the number of steps taken to do a transaction using credit, debit, net banking is significantly higher compared to a few seconds on ePayLater. Since the customer never leaves the portal (which the customer does in case of credit/debit/net banking/wallet transactions), ePayLater can easily guarantee a very high success rate and transaction security.
Benefits of epayLater
In a nutshell, ePayLater’s benefits for consumers are threefold. First, it’s Buy Now, Pay Later functionality; second, the enabling of a single-tap checkout process; and third, its ability to safeguard consumer information from unnecessary dissemination.
ePayLater – Funding and Investors
In total, ePayLater has raised over $15.7 mn funding in 4 rounds (February 2021).
Recently, ePayLater closed the Pre-series A funding led by ICICI Bank and GMO Global Fintech Fund, an investment fund of the internet conglomerate in Japan along with family offices like Parekh and Patni and foreign investors from the UK.
Akshat Saxena, Aurko Bhattacharya and Uday Somayajula are the founders of ePayLater.
Akshat Saxena – Co-Founder, ePayLater
Akshat Saxena
An engineer by qualification from DA-IICT Gandhinagar, Mr. Akshat Saxena is a management specialist in Marketing and Information Systems with an MBA degree from the Management Development Institute, Gurgaon (MDI). Akshat carries a cross-sectional experience of setting up and managing data-driven businesses.
In his 12 years of professional experience, he has worked extensively in the BFSI, credit, and payment space, and has endeavored to solve business problems with technology and data solutions. Prior to embarking upon his entrepreneurial journey, he worked with majors like Oracle, IBM, SAP, and TransUnion.
Aurko Bhattacharya – Co-founder
Aurko Bhattacharya
Mr. Aurko Bhattacharya is an engineer by qualification from the Indian Institute of Technology, Roorkee (IIT Roorkee). Aurko is a management specialist with an MBA degree from the Indian Institute of Management, Calcutta(IIM-C).
Aurko carries Banking experience dealing with structured investment solutions across Equity, Interest Rates, and Foreign Exchange. In his 12 years of professional experience, he has worked with industry majors like ICICI Bank and Barclays Wealth and Investment Management.
Uday Somayajula, Co-founder
Uday Somayajula
Mr. Uday Somayajula is an engineer and management specialist in Finance with an MBA degree from the Management Development Institute, Gurgaon (MDI). Uday is experienced in multiple areas of banking, capital markets, and risk consulting. In his 12 years of professional experience, he has worked with industry majors like ICICI Bank and Accenture Management Consulting.
ePayLater runs with an employee strength of 51-200 employees, as per its Linkedin profile.
Market and Industry Details
With a credit card penetration of just 2% in the country and less than 10% of SMEs having access to credit, ePayLater has huge growth headroom.
The team at ePayLater arrived at the solution after intensive market research and interviews with people. Market studies showed that “pay later” products not only result in a higher transaction success rate for merchants but also bring in new customers who previously did not have access to credit.
Successful models in the USA and Europe were studied. Studies clearly demonstrated the fact that paying later products result in significantly higher transaction success, provides a better customer experience to users.
With India being on the path of an e-commerce revolution, this was the perfect time to build a “Pay Later” for India and give the much-needed credit boost and checkout convenience to people. ePayLater aims to make credit more accessible and convenient for the growing population of India.
ePayLater – Startup Story | How was ePayLater Business Started?
ePayLater was founded in December 2015, while the idea started a few months prior. Akshat, Aurko, and Udayhad been working in complementary sub-domains of BFSI and had a consensus on the potential a mass-market credit offering can unlock.
The team was amazed at the fact that despite the great strides being made by the economy and therefore retail consumption, the credit penetration remained abysmally low.
In India, we have only around 40 million credit cardholders in a billion-plus population, which in terms of percentage penetration is way lower compared to the western counterparts. The founder trio had the vision to empower every fellow citizen with a credit instrument. And that’s how the idea of ePayLater was born.
In order to actualize the same, the team of ePayLater chose a path that was non-traditional yet congruent with trends- demographic and technology alike. They decided to build a purely digital credit offering, which would leverage the best of data science and engineering, and deliver an experience that is not just inclusive, but also superior.
ePayLater today underwrites customers using alternate data, in less than a second, thereby allowing them to be a true checkout credit method at points of sale, whether online or offline. Customers could get a credit limit in real-time, and use it to ‘Book/Buy Now and Pay Later’, irrespective of their geographical presence.
The idea behind starting the company was to use data science and new-age technologies to solve real-life challenges and bridge the credit divide that exists in India today. ePayLater is a team of dynamic professionals with a goal to optimize the digital payment experience and make it seamless, reliable and secure – says Akshat.
ePayLater is a fintech company that stands as a zero-cost credit solution for SMEs, which helps them easily purchase their supplies. With this, the company aims to reduce the trust deficit that typically exists in the digital B2B commerce market.
ePayLater earns revenue from the transaction fee that is charged from the merchants. Another source of revenue is the penal charges levied on overdue payments.
ePayLater – Competitors
Some competitors of ePayLater are:
LazyPay
Simpl
Paytm Postpaid
KrazyBee
Quiklo
SlicePay
However ePayLater’s USPis its product that serves the NTC (New to Credit), non-urban residents as well as it solves the challenges of urban elites. At ePayLater, the platform leverages sophisticated algorithms that have the capacity to cater to wide and differing audiences in an inclusive way.
They have built a product that’s serving the under-served, non-urban residents as well as it solving the challenges of the urban elites.
For instance, IRCTC sees traffic from the biggest metros and the smallest towns, catering to customers of different ages that often lack credit histories. In spite of these challenges, ePayLater’s algorithms, created using advanced data science and analytics, have been able to determine their creditworthiness based on several parameters other than credit history. This made it possible for the company to solve real-life problems by disbursing credit to the right people.
ePayLater – Advisors and Mentors
Stefan van den Berg, founder and former CEO of AfterPay, a provider of ‘pay after delivery’ payment services in Western Europe and the ANZ region, has joined ePayLater as a strategic advisor.
ePayLater’s focus on continuous innovation puts them in the lead every time in offering the most convenient, secure, and seamless experience to the customer.
To cite a specific example, the launch of ePayLater’s services on IRCTC created a wave of excitement amongst customers. Partnering with India’s largest online portal is a strong testimony to their technology and analytics leadership. ePayLater is considered to be one of the most convenient methods to purchase tickets on the IRCTC platform.
Also, ePayLater is India’s first UPI-powered credit solution. The team of ePayLater came up with an innovative solution to empower individuals to transact on credit anytime anywhere. They partnered with IDFC Bank to bring instant digital credit to individuals transacting online and offline, using BHIM UPI.
For the first time, digital credit is made possible using the BHIM UPI railroad, the instant real-time payment system developed by NPCI. This allows the customers to use ePayLater on all the major merchants like Amazon, Flipkart, Myntra, Jabong, and Uber.
ePayLater – Awards and Recognition
ePayLater won the DigiDhan Mission Fintech Award for ‘Best Fintech Innovation in Digital Payments through Lending’ at the MeitY Startup Summit 2019 in October. The Minister of IT, Shri Ravi Shankar Prasad awarded the startup the award.
ePayLater – Future Plans
ePayLater looks forward to introducing a bunch of innovations that would help them further simplify the customer experience, besides making credit more inclusive. Alongside, having solved the first set of business challenges their merchant partners were facing, ePayLater are broadening the vistas and gearing up for other business metrics that could be achieved.
The startup is looking at business credit as a major thrust area, as there lies a huge unmet demand for easy credit. ePayLater believes solving the said problem would unlock the true business potential of micro-entrepreneurs across the country.
On the back of its unique product and seamless execution, ePayLater is all set to cement its position as the leading facilitator of Digital Credit aimed at individuals and small businesses.
ePayLater – FAQs
Who founded ePayLater?
Aurko Bhattacharya, Akshat Saxena, Uday Somayajula, Prasannaa Muralidharan, Shanmu Thiagaraja are the founders of ePayLater.
When was ePayLater founded?
ePayLater was founded in 2015.
Who are the competitors of ePayLater?
LazyPay
Simpl
Paytm Postpaid
KrazyBee
Quiklo
SlicePay
Stc Pay
Unicard
Twid
Solfy
What is the total funding of ePayLater?
ePayLater has raised over $15.7 mn funding in 4 rounds (February 2021).
What is Pay Later payment?
When Customers make payment for the goods or services, money is not debited from their accounts. Payments are done by their providers. Customers pay the transaction amount back to the provider according to the fixed schedule as regulated by the provider.
Harshit Verma
