Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved byI Am Love.
I Am Love works in the Nutraceutical industry where it would like to re-educate people about the saying “Let food be thy medicine”. Its products are to be taken orally to counter skin and health concerns. Launched in early 2021, the startup is working on developing more intuitive research-backed products.
StartupTalky interviewed Ms. Shilpa Rathi (Founder, I am Love) to get insights into the startup story and roadmap of the organization.
I Am Love came into existence in early 2021, with the aim of redefining the relationship we have with our health. It works in the Nutraceutical industry where the team would like to re-educate people about the saying “Let food be thy medicine”. Its products are to be taken orally to counter skin and health concerns.
I Am Love blends science and innovation to deliver effective, yet gentle solutions. That means working with clinically proven ingredients and natural extracts which are sourced responsibly keeping the quality in mind. Its formulas are free from toxic preservatives, additives, artificial flavorings and sweeteners, and even artificial colors.
“We Believe that the answer to all our bodily concerns is deep within our food. Whether it’s for our skin, hair, cognitive functions, our physical or even our mental wellbeing” says Shilpa Rathi, Founder, I am Love.
I Am Love offers 5 products –
Acne negative – Reduces acne by controlling the sebum production throughout your body
Spotless – Resolves stubborn acne, pigmentation, Melasma, and dark spots anywhere on your body
Renew + Repair – A beauty protein powder with marine collagen and whey isolate
The Nutraceutical Market worldwide is around $530 Bn as of 2020 however in India itâs at a very nascent stage around 4-5 Bn. Covid has impacted the consumption of Nutraceutical at a Major level and the population is now understanding the importance of being healthy from within.
Shilpa’s decision for building I am love is based on deep Market reports through Mintel and likewise. The team even did a Dipstick study with around 5000 consumers to understand their knowledge of Nutraceuticals, their understanding of what are the current best ways to solve the problems they were facing, and built the business on the findings.
Shilpa battled cystic acne back in 2009, in her late 20âs. It was the result of a personal loss that led to changing the bodyâs reaction to handling the depression. That along with her work stress led to the acne outbreak. Shilpa tried literally every solution she could get her hands on. Around that time she was traveling to the US and along with her brother there, who then worked in Pfizer, the duo developed a formulation for Shilpa to tackle her acne outbreak. It worked really well. Inittially the idea was only to cure her own acne, but now fast forward to 2020, Ms. Shilpa Rathi realized the Indian population was open to the Idea of supplements for health reasons and this led to her improvising the formulation that worked for her and launching it for everyone who was battling the same fight.
I Am Love – Founders and Team
I Am Love is a partnership between Shilpa Rathi and her brother Gaurav Rathi.
“Hiring funda at I Am Love is clear, someone who is always willing to think outside the box, I believe that the most important criteria when looking for talent, even more than experience is whether that person is an initiator, can look at a situation from all fronts but also knows when to drop the ball and act fast” – Shilpa added.
I am Love team
I Am Love – Ideology behind Name & Logo
Though there were plenty of options for the brand name, I Am Love struck out because it was clear. The product is love, love for all your senses, and we all know we are the best, feel best, act best when we are loved.
I Am Love’s consumers taught the startup how to convert them. What they would like to see in a product and what they thought was the gamechanger.
What has worked for I Am Love is Social Proof!
The team realized that their consumers liked real stories, getting in touch with real people! Who featured in the ads. I Am Love was so focused on that and knew that its products worked that the team initiallyonly partnered with Influencers who had acne or skin concerns. The startup wanted their consumers to believe and few of them even went out of their way to give it deliverables or shout out when the product worked for them. I Am Love plans to continue doing that.
Convincing customers to share their progress, asking them to feature so as to help someone who was battling the same concerns.
Convince consumers that this wasn’t a quick fix and for an effective solution they would need to be patient. The battle is still ongoing, but the team at I Am Love is determined to keep pushing.
I Am Love raised INR 35 Cr from Xentel Investments in the seed round.
Date
Stage
Amount
Investors
July 2021
Seed
INR 35cr
Xentel Investments
I Am Love – Future Plans
I Am Love is working on developing more intuitive research-backed products. The startup claims that its next product line is very exciting!
I Am Love – FAQs
What is I Am Love?
I Am Love was established with an aim of redefining the relationship we have with our health. It works in the Nutraceutical industry where the team would like to re-educate people about the saying “Let food be thy medicine”. Its products are to be taken orally to counter skin and health concerns.
Who is Shilpa Rathi?
Shilpa Rathi is the founder of I Am Love.
Is I Am Love an Indian company?
Yes. I Am Love is an Indian company headquartered in Mumbai, Maharashtra.
Has I Am Love raised any funding?
I Am Love raised INR 35 Cr from Xentel Investments in the seed round.
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 Fittr.
Fittr is a tech-enabled community-first health and fitness platform started with an aim to provide science-backed health and fitness knowledge to its users. Â With a three million strong and inclusive community, Fittr has trained and transformed over 220,000 people, centered on the fact that âfitness is a journey and not the destinationâ.
The philosophy underpinning Fittr revolves around fostering awareness and education around fitness and nutrition, alongside empowering its community members with the right knowledge, skills, and support to achieve their fitness goals.
StartupTalky interviewed Sonal Singh (Co-founder, Fittr) to get insights into the startup story and roadmap of the organization. In this article, you’ll discover how Fittr was launched, its business model, funding details, future plans, and more.
Fittr is a tech-enabled community-first health and fitness platform started with an aim to provide science-backed health and fitness knowledge to its users. The platform encourages people to begin their fitness journey with science-backed knowledge.
In the long term, Fittr aims at making 50 million people fit and creating 100,000 meaningful career opportunities in the fitness industry. Its mission is to become the leading global social platform and marketplace for fitness coaching by educating and inspiring people to get fit & transform their lives. For the next year or two, the primary focus is to generate effective employment for more than a thousand fitness and nutrition coaches.
There is a strong philosophy that underpins Fittr revolving around fostering awareness around fitness and nutrition, alongside empowering its community members with the right knowledge, skills, and support to achieve their fitness goals. Being a community-driven platform, it aims at bringing the fraternity of fitness enthusiasts together to usher in the much-needed innovation in the industry. The team here strongly believes in democratizing fitness and busting myths around fitness education, thereby building a healthier society together.
Fittr – Industry Details
As per industry estimates, there is a report recently released by Redseer Consulting that positioned Indiaâs fitness industry which includes equipment, sportswear, fitness services, and recreational sports, at USD 12 billion in 2018, and despite the ongoing pandemic, the overall fitness industry is expected to touch the USD 32 billion mark by 2022 and grow at an annual rate of 27%.
The fitness market has seen a massive boom with the industry pivoting its business model to online. Convenience and personalization are the key elements driving the online fitness industry. One of the major trends that are being witnessed these days and will become more prominent in the future is the hybrid fitness model which will be an amalgamation of online fitness classes and going to gyms. Sonal Singh (Co-founder, Fittr) anticipates that we will continue to witness the surge in the adoption of online fitness in the coming years along with more personalized fitness programs developed on Artificial Intelligence (AI).
Over the years, Fittr has evolved to become the platform it is today, and it will continue to do so to deliver holistic fitness â for the body, mind, and beyond.
It all began as small a WhatsApp group in 2014 by Jitendra Chouksey (JC), who is also the founder and CEO, to help his friends get in shape. The other co-founders Jyoti Dabas, Rohit Chattopadhyay, Bala Krishna Reddy, and Sonal Singh, joined JC soon after. In the same year, given the overwhelming response and positive feedback, they quickly transformed into a Facebook group, called S.Q.U.A.T.S. The group was based on the âSystematic Quantitative Unified Aesthetic Transformation Systemâ, which helped more people be a part of the fitness revolution with a safe space that is free of judgment. The Facebook community helped them, and others to understand the specific requirements all of which could be addressed with quantified nutrition.
In 2016 with an initial investment of INR 90K, the platform was launched. As like-minded people, each of them wanted to provide a safe and judgment-free platform where anyone could learn, transform, inspire, and explore their career opportunities in fitness. Later, they created the fundamental training methodology to prove that anyone can get fit with the knowledge of Quantified Nutrition.
Then in 2018, the team launched the Fittr application with an aim to democratize fitness. Today, Fittr is successfully functioning as a tech-enabled community-first health and fitness platform headquartered in Pune.
“I am happy to state that we have been profitable since inception and are one of the largest fitness & nutrition communities on Facebook with over 600k members” – says Sonal Singh, Co-founder, Fittr.
Fittr serves as a one-stop solution for all health and fitness guidance and related needs of the users. It sees itself as a technology company with a passion for fitness and nutrition. Fittr uses AI to create intuitive tools that map the entire fitness journey of a person. The app offers a full suite of easy-to-use tools such as a free diet tool, free training tool, body fat calculators, macros calculator, and many others. The platform also provides personalized guidance, customized plans, and weekly check-ups through Fittrâs certified coaches by paying a small premium.
Fittr Logo
The companyâs strength is its strong three million-plus inclusive community which not only supports each otherâs fitness goals but also encourages them to become a better version of themselves. Additionally, Fittrâs B2C freemium model, along with its principle of âQuantified Nutritionâ, a scientific and proven method for achieving life-long health and fitness is what makes Fittr stand out from the clutter.
Initially, the name of the organization was S.Q.U.A.T.S, âSystematic Quantitative Unified Aesthetic Transformation Systemâ. In March 2019, the team rebranded the companyâs name to FITTR as it is more reflective of the market that they aspire to serve. They believe that this name has more impact on peoplesâ minds and gives fitness aficionados a psychological push towards staying fit whenever they see the app icon on their smartphones.
Fittr has a subsidiary called the Institute of Nutrition and Fitness Sciences (INFS) which was established with the intent of imparting comprehensive and practical knowledge in health and fitness by one of the Co-founders, Jyoti Dabas.
INFS provides a range of online courses with the aim of promoting scientific learning, research initiatives, and revolutionizing the health and wellness industry. INFS is on a mission to provide its students with a best-in-class education in nutrition and fitness. To date, more than 12,000 students have enrolled in INFS certificate courses and over 3300 are enrolled in their other offerings like workshops in Ayurveda and mindfulness.
Fittr – Founders and Team
Jitendra Chouksey (CEO), Jyoti Dabas, Rohit Chattopadhyay, Bala Krishna Reddy, and Sonal Singh are the founding members of Fittr.
Sonal Singh – Co-founder, Fittr
Fittrâs co-founders include Jitendra Chouksey, an IT engineer, Jyoti Dabas, a former Citigroup analyst, Rohit Chattopadhyay, who comes in with a diverse sales and marketing experience across banking & various other sectors, and Bala Krishna Reddy, a former developer at Ford Motors. They came together to form Fittr with a common goal to provide a safe and judgment-free platform for people to learn, transform, inspire, and explore career opportunities in fitness.
A little brief about Fittrâs co-founders is as below:
Jitendra Chouksey
A first-generation entrepreneur, Jitendra Chouksey (JC) is a graduate as an IT Engineer and worked for more than eight years in the tech sector at companies like IBM, L&T, and Mphasis. The sedentary lifestyle started taking a toll and as a lifelong fitness enthusiast, he wasnât content with his personal fitness level. He delved deeper into educating himself & experimented on his own body. He came to realize that the secret to fitness wasnât as complicated as it seemed: it was based on the science of quantified nutrition. Having transformed himself, he went on to win the title of Muscle Mania Muscle Model 2015. He gained the attention of his friends and colleagues who all wanted to learn how to transform.
Rather than keep his fitness discovery a secret or charge people, he started training them for free first on WhatsApp and then Facebook. When the demand became overwhelming, he trained coaches with the hope that they could train others and spread the knowledge. Before JC knew it, his simple ambition to help others was the genesis of an entrepreneurial adventure called Fittr.
Jyoti Dabas
Jyoti Dabas is a Co-founder at Fittr. After securing an MBA from IIM-Calcutta, Jyoti went on to complete an Electronics and Communications Engineering degree from the University of Warwick. She is also a Doctor of Naturopathy, Certified Personal Trainer, and a Certified Life Coach.
She is also Founder and CEO at INFS – Indiaâs largest Online Fitness Certification Institute. As a founding member, her role is to uphold the quality of the courses offered by INFS and to ensure the company lives up to the expectations of the stakeholders. She aims to increase the number of quality Fitness Professionals in the country and create opportunities where these professionals can earn at par with other service industries
Apart from her many academic achievements, Jyoti is an entrepreneur at heart. Having served more than seven years in the field of Banking and Consulting in London and India, she stepped out of her comfort zone to explore her interests in the Fitness Industry.
Rohit Chattopadhyay
Rohit Chattopadhyay is the Co-Founder and Director of Fittr. The foundation of Rohitâs entrepreneurial journey with Fittr was laid when he joined Fittrâs Facebook community. He began implementing everything that was recommended in the group. Â With time, Rohit witnessed his health and fitness improve by leaps and bounds. This became a turning point for him, as he realized fitness was his true calling. Â After a year, Rohit moved to Pune and became a Fittr coach, and eventually a part of the founding team of Fittr.
Rohit is closely involved in the branding and marketing efforts of Fittr. Prior to joining Fittr, Rohit was working in the marketing department of IBA Systems and Automations. He has an Electrical Engineering degree, and a Master’s degree in Marketing.
Bala Krishna Reddy
Bala Krishna Reddy Dabbedi is the Co-Founder and Director of Fittr. He comes with a decade-long experience in technology and fitness. Â Bala began his career in technology at large corporations in India and the United States. This helped him gain insight into international markets.
With a Masterâs degree in Science from the University of North Carolina at Charlotte, he was part of the original team that helped create the Fittr website. During that period, Bala was working with Ford Motors in the US. However, he understood that Fittr was something special and recognized his interest in fitness to move to India.
Fittr acts as a one-stop-shop for all health and fitness needs and offers a freemium model to all its users.
It provides free access to diet and training tools, over 5000 healthy recipes, live fitness sessions with experts, Q&A with coaches, and connects users to a community of over three million members comprising fitness experts and enthusiasts.
The users pay a small premium only when they require a personalized nutrition and exercise plan to reach their health and fitness goals. The customized plans are provided by one of Fittrâs 500 plus certified coaches, along with in-depth consultation calls as well as weekly check-ups on their progress via the app. Almost all of Fittr’s coaches come from the Fittr community and have their own stories of transformation.
Fittr has packages starting from INR 6,500 for three months, and the fee depends on the trainer and the time period of the package. And this is where Fittr earns its revenues from.
Fittr – Launch & Marketing Strategies
In 2014 itself, understanding the different needs of a body, the founding team launched S.Q.U.A.T.S, a Facebook group based on the âSystematic Quantitative Unified Aesthetic Transformation Systemâ. The group was started to help more people be a part of the fitness revolution with a safe space that is free of judgment.
The Facebook community helped them, and others understand the specific requirements all of which can be addressed with Quantified Nutrition. They ran the community for free for 1-2 years. By the end of December 2015, the group had 50,000 people. What the team observed was that people wanted personal training. Thatâs when they realized that it is the human touch, mentorship, and accountability that people needed.
Thus in 2016, they launched a website called SQUATS later rebranded as Fittr. It was modeled like an e-commerce platform for fitness, except, instead of products, there were fitness coaches. This strategy worked well for Fittr and helped it capture and retain its initial users. Fittr has grown 100% organically through word-of-mouth.
The team has been working using this key mantra which has worked well for them, since the start of the company. What attracts Fittr’s customers are –
Quantifiable Results: Fittrâs unique methods and personalized approach are the game-changers that helps users achieve their fitness goals faster
Human Touch: Fittrâs experts and qualified coaches go the extra mile to help the customers
Community: Fittr makes sure that whoever enrolls is not alone in his/her journey. They can connect with other fitness enthusiasts, share stories, and get inspired through Fittrâs three million strong and inclusive community
Fittr is a coach-led, community-first platform that consistently keeps on coming up with exciting fitness challenges and campaigns to keep its users engaged. Fittrâs flagship Transformation Challengeâs (TC) 14th edition was recently launched in August and as part of the same, it launched a digital campaign – #NoMoreExcuses to create further excitement amongst its users. The campaignâs aim was to urge people to drop all excuses, stop procrastinating and embark on their fitness journey to become a fitter and better version of themselves. As part of #NoMoreExcuses, Fittr conceptualized ad films highlighting how conveniently excuses act as obstacles for people who are taking their first step towards a fitter life.
Fittr’s Digital Campaign #NoMoreExcuses
Transformation Challenge is Fittr’s flagship recurring event that aims to encourage fitness enthusiasts to transform their lives and be a better and healthier version by competing with themselves. It not only aims to encourage people to push boundaries and begin their fitness journeys but also intends to inculcate the fact that fitness is a journey in which one competes with his own self and not anyone else. It also stresses building a sense of discipline, consistency, and diligence in them to achieve their fitness goals. The challenge requires contestants to share a video every week in the specified format to showcase their week-on-week progress for 12 weeks. The participants are evaluated on multiple factors such as muscle gain, fat loss, and consistency from the past transformation challenges.
Fittr – Challenges Faced
Whenever you start a business, you experience your own share of ups and downs, face challenges and struggles but never stop hustling. Fittr went through the same phase. Initially, when the team was putting the foundation of Fittr, many people didnât understand the business model nor did they think that fitness and health was a big enough market to address.
The founders were advised to launch or endorse complementary products or even use advertisements to monetize their community. Promoting products would be a hypocritical stance which they didnât want to take. However, their fundamental philosophy is to democratize fitness and show everyone how accessible fitness is. Also, the community they have built has been done so with the utmost commitment to quality and scientific-based knowledge. It took some time but following one’s own ethics has allowed them to build up a reputation as a trusted fitness brand and has led to the growth of Fittr’s community.
Fittr – Growth and Stats
Fittr is a community-first, coach-led brand headquartered in Pune. With a three million strong and inclusive community, the company has trained and transformed over 220,000 people and 30% of its user base is global, spread across the US, UK, Australia, UAE, Canada, and now North America and Singapore. In FY21, Fittr crossed 65,000 paid users and created employment opportunities for 500+ coaches.
Fittr has grown 100% organically through word-of-mouth and based on the transformation results shared by members via the Facebook community and app. In the past three years, the company has seen massive YOY growth.
FY19 to FY20 (YoY Growth) = ~22%
FY20 to FY21 (YoY Growth) = ~80%
The company focuses on democratizing fitness and has recently launched personal training/ coaching service on its platform and has recorded a ~20% MoM growth.
The company recently crossed USD 10 million in annualized booking run-rate and in FY 21, achieved gross bookings of USD 9.3 million (approximately INR 68 crores) to become one of the world’s largest community-based fitness brands. The current ARR stands at USD 15 million.
Fittr – Funding and Investors
Fittr has raised a total funding of USD 13.5 Million to date. Its most recent series A round was led by Dream Capital and Elysian Park Ventures for USD 11.5 Mn.
Fittr’s funding details are as follows:
Date
Stage
Amount
Investors
April 2020
Pre-series A
USD 2 Mn
Sequoia Surge
September 2021
Series A
USD 11.5 Mn
Dream Capital, Elysian Park Ventures
Fittr – Advisors/Mentors
Mr. Rajan Anandan, MD, Sequoia Capital & Surge (Rapid Scale-up Program for Early-stage start-ups in India, SEA)
Aditya Khosla, Co-founder & CTO at Path AI
Fittr – Acquisitions/Mergers
As part of Fittrâs commitment towards building meaningful communities while enabling it to scale up its reach to a larger audience, the company recently acquired a minority stake in Wylo, an interest-based social networking platform, and had earlier also invested in Fitato, a gym aggregator platform.
Fittr – Recognition and Achievements
Fittr as a company has grown tremendously and has been recognized by investors, organizations and have also been accoladed with awards for its unique business model and companyâs vision of democratizing fitness.
June 2017- Awarded âBest Fitness Company in Puneâ by Merit Awards and Market Research
May 2019- Bollywood actor Suniel Shetty became the strategic investor of the startup
November 2019- A US-based seed accelerator program, Y Combinator (Winter 2020), selected Fittr
April 2020- Fittr raised funds in pre-Series A funding round from Sequoia Surge
September 2021- Fittr raised USD 11.5 million in a Series A funding round co-led by Dream Capital and Elysian Park Ventures
As part of Fittrâs next phase of growth, the company aims to enter the list of start-up unicorns and become the leading global social platform and marketplace for fitness coaching by educating and inspiring people to get fit. Along with strengthening and expanding the core services further, Fittr aims to create employment for 1,000+ coaches in the next 12-18 months. As a long-term goal, the team is working to make 50 million people fit and create 100,000 meaningful career opportunities in the fitness industry.
Fittr – FAQs
What is Fittr?
Fittr is a tech-enabled community-first health and fitness platform started with an aim to provide science-backed health and fitness knowledge to its users. The platform encourages people to begin their fitness journey with science-backed knowledge.
Who founded Fittr?
Jitendra Chouksey (CEO), Jyoti Dabas, Rohit Chattopadhyay, Bala Krishna Reddy, and Sonal Singh are the founding members of Fittr.
How does Fittr make money?
Fittr offers afreemium model to all its users.
Free access to diet and training tools, over 5000 healthy recipes, live fitness sessions with experts, Q&A with coaches, and connects users to a community of over 3Mn members comprising fitness experts & enthusiasts.
The users pay a small premium only when they require a personalized nutrition and exercise plan to reach their health and fitness goals. It has packages starting from INR 6,500 for three months.
How much funding has Fittr raised? Â
Fittr has raised a total funding of USD 13.5 Million to date. Its most recent series A round was led by Dream Capital and Elysian Park Ventures for USD 11.5 Mn.
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 Super Evil Megacorp.
Cross-platform games, often known as cross-play games, are games that may be played online versus other people irrespective of the platform they use. Over the last several years, cross-platform games have grown increasingly popular, with several game creators opting to offer this function and allowing us to play alongside our friends irrespective of platform.
Super Evil Megacorp is a game development business that develops games that work on a variety of platforms. The platform offers AAA gaming experience to its users. Let’s explore more about this popular Game Developer.
Super Evil Megacorp – Company Highlights
Startup Name
Super Evil Megacorp
Lwgal Name
Super Evil Mega Corp, Inc.,
Headquarters
San Francisco Bay Area, Silicon Valley, West Coast
Super Evil Megacorp is a company that creates gaming platforms with high graphics quality, precise controls, and internet multiplayer interactions. The company’s gaming platform provides category-defining multiplayer experiences for the smartphone population and is dedicated to creating shared gameplay moments via deep engineering and functional excellence, allowing players to play solo or multiplayer games with spectacular effects.
Vainglory is the company’s main product, a MOBA (multiplayer online battle arena) game in which two competing teams of three players compete to destroy the opponent base by controlling the road between them, which is surrounded with turrets and guarded by Artificial Intelligence -controlled enemy monsters. Super Evil Megacorp is all set to launch yet another engrossing game, Project Spellfire (a.k.a Catalyst Black) which is a next-generation mobile battleground shooter game.
Super Evil Megacorp – Latest News
As of July 2020, Super Evil Megacorp started an Early Access program for its game Catalyst Black, which is the company’s second game; the first was Vainglory. In 2019, Super Evil Megacorp started working on the development of its new game Project Spellfire (Catalyst Back) and handed over Vainglory to a US-based startup Rogue. However, when Rogue decided to shut down Vainglory, the original developer Super Evil Megacorp took charge of the situation and ensured that Vainglory game servers remain live. But, in-game IAP(In-app purchases) has been disabled for the game.
The forthcoming shooter game Catalyst Black, which was first unveiled in May 2020, will involve teams of ten or more players in many game types that blend battle and strategy. Players have weapons and unique skills, as is customary. Users can, however, employ a mask to transform into a primordial god.
Super Evil Megacorp – Industry
The gaming industry is enormous. It’s bigger than the film and music industries altogether, and it’s just becoming bigger. Though it does not receive the same level of attention as the music and film industries, there are over two billion players worldwide. This equates to 26% of the worldwide people.
Understandably, businesses want a piece of the action. The gaming business’s estimated revenue was $155 billion in 2020. Analysts estimate that the sector will produce more than $260 billion in sales by 2025. This has enticed even many IT firms to enter the gaming sector. Google, Facebook, and Apple have all expressed interest in entering the video game sector.
Super Evil Megacorp – Founders and Team
Super Evil Megacorp was founded by Bo Daly, Qingshuo Wang, Stephan Sherman, and Tommy Krul in 2012.
Bo Daly
Bo Daly is Super Evil Megacorp’s co-founder and ex-CEO. He began his career as an engineer at Rockstar Games, where he was instrumental in the development of the $400 million Red Dead Revolver series. He departed Rockstar to lead platform and game engineering teams at Gazillion Entertainment, where he created free-to-play MMOs. Afterward, he moved to the Business & Corporate Development department, where he worked on licensing negotiations and oversaw foreign partner operation, directing the daily activities of groups in 4 nations. In 2019, Bo Daly exited Super Evil Megacorp and founded another gaming company, Bazooka Tango.
Bo Daly – Co-founder of Super Evil Megacorps
Qingshuo Wang
Quingshuo, who was formerly at Playfish and is an excellent RTS player, is in charge of all areas of product management as well as front-end UI-coding.
Stephan Sherman
Stephan Sherman worked for Super Evil Megacorp as a Co-Founder, CCO, and Director. Earlier Stephan Sherman worked with prominent gaming companies like Riot and Gazillion. Sherman also exited Super Evil Megacorp in 2019 and joined Bazooka Tango as a co-founder.
Tommy Krul
Super Evil Megacorp CTO Tommy is the creator of the Super Evil engine and technological approach, having previously worked at Riot Games, Gazillion, Factor 5, and Guerilla Games.
Bo Daly is a professional engineer who has worked in databases and technology consulting in the past, as well as an internship at Microsoft’s Redmond campus. But he’d always wanted to be a game developer. He “desperately needed to develop games,” as he puts it.
The name of the gaming company, as Bo said in an interview, was initially just a joke cracked by one of his friends.
“It was those lightning in the bottle things, you couldnât really create it. Someone threw that out as part of a joke. Weâre like, âOh, thatâs amazing. If we ever start a company, thatâs the name, right?â The thing that we really loved about it was, not only is it funny, and channels these feelings of Dr. Evil and various other things,” he said.
He added that when the firm was formed, they realized right away that they intended to create a team that was more akin to a commando group than a large military force. He wants to assemble a small group of artisans who are passionate about what they do, who work well together, and who develop games in a true craftsman-like manner, which is difficult to do in today’s games business.
Super Evil Megacorp – Mission and Vision
Super Evil Megacorp’s mission statement says, âTo build the best home for passionate game industry craftsmen and craftswomen who want to push the boundaries of gaming for the long term.â
Super Evil Megacorp – Name, Logo, and Tagline
According to Bo, the name of the company started as a joke. They found it not only funny but the name also channeles the feelings of Dr. Evil.
Company Logo of Super Evil Megacorp
“What we really loved about the name, early on especially, is itâs a beacon to those types of folks â you donât have to be caught deep inside the cogs of some huge Mega Corp where you donât have creative control and a voice in what youâre creating. That helped us build a great base of talent that is the cornerstone, the foundation of Super Evil,” Super Evil Megacorp’s co-founder Bo quoted.
Super Evil Megacorp – Employees
Jean-Eric Khalife – Technical Art Director
Kristian Segerstrale – Chief Executive Officer
Qingshuo Wang – Co-founder, Product
Stephan Sherman – Founder and Chief Creative Officer
As of 2019, on smartphones, tablets, and the PC, Super Evil Megacorp’s Vainglory multiplayer online battle arena (MOBA) game has over 45 million users. In 2019, Vainglory was handed over to Rogue Games. Â Vainglory was almost 5 years old at the time, and it was a game that set new standards in terms of performance, graphical fidelity, and competitive play. The free-to-play game kept users occupied for more than 80 minutes per day.
However, the scale required to sustain it as a mobile E-sport just did not exist. Super Evil attempted to broaden Vainglory’s appeal by allowing crossplay on PC and Mac. That was a remarkable technological achievement, and Segerstrale, COO of the firm, said he was further motivated by games like Call of Duty: Mobile, which are cross-platform and high-quality. As per some reports, Vainglory’s mobile version earned gross revenue worth $50 Million between 2014(when it was launched) to 2018. Â
Super Evil Megacorp – Competitors
Top competitors of Super Evil Megacorp are:-
SimBin
Teyon
HitPoint
Backflip Studios
Koukoi Games
5th Planet Games
Playfusion
Saffire
Super Evil Megacorp – Awards, and Achievements
Vainglory, Super Evil Megacorp’s flagship offering, is the biggest and most popular mobile E-sport, with over 3,000 teams and 1 billion matches played across leagues across North America, Japan, China, Europe, Korea, and Southeast Asia. TSM, Cloud9, Fnatic, SK Gaming, NRG, Misfits, Immortals, Rogue, G2 Esports, Echo Fox, Rox Armada, Team Secret, mousesports, and DetonatioN Gaming were among the major esports brands to join the Vainglory roster in 2016.
Vainglory has won many game development awards, including Apple’s “Best Apps” in 2014 and 2015, the IMGA’s Best Technical Achievement, the Apple Design Award at WWDC, and People’s Choice Awards, and the Tabby Award for Best iPad game in the RPG, Simulation, and Strategy category.
Super Evil Megacorp has reorganized its development approach to be more friendly to remote staff, as well as made some management changes recently. Stephan Sherman and Bo Daly, co-founders of SEMC, have left to create a new gaming company called ‘Bazooka Tango’, while Chief Revenue Officer Volkan Ediz (ex-Machine Zone) and Art Director Eduardo Gonzalez have joined the company (formerly of Riot Games).
The company is working towards developing new cross-platform games.
Super Evil Megacorp’s General Manager, Global Publishing, Taewon Yun, emphasized the importance of developing mobile-first games.
âIt makes a lot more sense to do mobile as an esports platform,â he says. âNo one believed it three years ago, but our fans actually loved playing competitively. Now, we have six regional leagues in six continents, and have an annual world championship,â Yun said in an interview.
Players sit in front of computer displays or TVs, allowing viewers to see little of them both online and in-person, thus removing part of the possible emotional relationship that viewers may have toward the players.
That’s one of the reasons why Super Evil Megacorp believes the potential in competitive gaming, or eSports, is considerably more than what’s now apparent. The video games by Super Evil Megacorp operate entirely on smartphones and tablets, so players are not obscured by a large computer.
In addition, there are many more cellphones than high-end gaming machines. According to Super Evil’s chief operating officer, Kristian Segerstrale, the larger smartphone market should result in a mobile game that produces several times more use and income than any PC game. Super Evil believes that smartphone tournaments would attract more spectators since they can better see the participants’ responses and relate to the gaming gadget.
Super Evil Megacorp – FAQs
What does Super Evil Megacorp do?
Super Evil Megacorp is a game development business that develops games that can be played on a variety of platforms.
When was Super Evil Megacorp founded?
Super Evil Megacorp was founded by Bo Daly, Qingshuo Wang, Stephan Sherman, and Tommy Krul in 2012.
Who founded Super Evil Megacorp?
Super Evil Megacorp was founded by Bo Daly, Qingshuo Wang, Stephan Sherman, and Tommy Krul in 2012.
Which companies do Super Evil Megacorp compete with?
The top competitors of Super Evil Megacorp are SimBin, Teyon, HitPoint, Backflip Studios, Koukoi Games, 5th Planet Games, Playfusion, and Saffire.
The scenario of public transport in India was not this better always. The middle class had no other option than to wait endlessly for boarding crowded buses. This is the time when mopeds were introduced to the Indian market, and mopeds soon won the hearts of the Indian middle class. Talking about mopeds, one name that we can never fail to mention is TVS. TVS launched India’s first two-seater 50cc moped in 1980, which soon became a part of many Indian households. TVS is still upholding its legacy and is still considered a trusted name in the two-wheeler segment. Here is more on the journey of TVS.
Indian multinational automobile manufacturer, TVS Motor Company (TVS) is located in Chennai, India. TVS is named after its founder Thirukkurungudi Vengaram Sundaram Iyengar. Motorcycles, scooters, mopeds, and 3-wheelers, as well as associated replacement parts and accessories, are the primary products of the firm. With exports to over 60 countries, TVS Motor Company is also India’s fourth-biggest two-wheeler manufacturer after Hero Moto Corp, Honda two-wheelers, and Bajaj Motors. In terms of export, TVS Motor is India’s second-largest exporter of two-wheelers.
Automotive vehicles and Parts, Automotive Accessories, and TVS Financial Services & Others are the major operating divisions of TVS motors. The Automotive vehicles and components segment is where the majority of the company’s income is generated. TVS Motor Company is the largest firm of TVS Group both in terms of size and turnover.
TVS Motor – Industry
In India, the automotive sector is one of the most rapidly developing sectors. India isn’t known for being a simple market, but perseverance always pays off. India produced 26.36 million cars in Fiscal Year 2020.
Passenger cars and 2-wheelers accounted for 80.8 percent and 12.9 percent of the Indian automobile market share, respectively, with over 20.1 million vehicles sold in FY20. Small and midsized automobiles are the most popular passenger vehicles.
In all, India exported 4.77 million cars in FY20, representing a 6.94 percent CAGR from FY16 to FY20. Two-wheelers accounted for 73.9 percent of all vehicles shipped, with passenger vehicles accounting for 14.2percent, 3-wheelers accounting for 10.5%, and commercial vehicles accounting for 1.3 percent.
T. V. Sundaram Iyengar established  T. V. Sundram Iyengar & Sons (TVS), a transportation firm with a huge fleet of trucks and buses, in 1911.
T.V. Sundaram Iyengar
Thirukkurungudi Vengaram Sundram Iyengar was an Indian businessman and pioneer in the car industry. T. V. Sundram Iyengar & Sons, a bus firm he started in 1911, eventually moved into automotive manufacture and became the parent company of the TVS Group, India’s largest commercial empire.
TVS Motor – Startup Story
T.V. Sundaram Iyengar is the founder of TVS Group. He began his career as a lawyer and later went on to work in the Railways and in a bank. Sundaram Iyengar however was more inclined towards entrepreneurship, and in 1911 he left his job to form TV Sundaram Iyengar and Sons, a Bus Service provider in Madurai. Till TV Sundaram Iyengar’s death in 1955, the company operated buses and lorries by the name of Southern Roadways Limited. TVS Motor, the flagship company of TVS Group was launched by TV Sundaram Iyengar’s Son T.S. Doraiswamy in 1978.
In 1980, India’s first two-seater moped, the TVS 50, rolled out of the factory in Hosur, Tamil Nadu. Sundaram Clayton Ltd and Suzuki Motor Corporation formed a joint venture in 1987 as a consequence of a technological partnership with the Japanese car giant Suzuki Ltd. Motorcycles were first produced commercially in 1989.
Sundaram Clayton was incorporated in 1962 as a joint venture between Clayton Dewandre Holdings and T.V. Sundaram Iyengar & Sons Ltd. It produced brakes, exhausts, compressors, and other automobile components. Sundaram Clayton is also the holding company of TVS Motor.
TVS Group has since then ventured into many businesses and forged tied with many organizations. Axel India Limited, a joint venture between Sundaram Finance and Dana Holding Corporation, USA produces Axel Housings. Brakes India Limited was formed in 1962 as a joint venture between TV Sundram Iyengar and Sons Ltd., and Lucas Industries Ltd.UK. for manufacturing braking equipment. TVS is also into the manufacturing of Motor parts and accessories, Electronic Ignition Systems, bus bodies, rubber products, and even textile.
TVS Motor- Mission and Vision
TVS Motor’s vision statement says, “We are committed to being a highly profitable, socially responsible, and leading manufacturer of high value for money, environmentally friendly, lifetime personal transportation products under the TVS brand, for customers predominantly in Asian markets and to provide fulfillment and prosperity for employees, dealers, and suppliers.”
TVS Motor – Logo, Slogan, and Tagline
TVS is the abbreviation for Thirukkurungudi Vengaram Sundaram(TVS Group Founder). The company’s professionalism and power are symbolized by the lettering’s blue hue in the company logo. A red-hued jumping horse serves as the TVS logo. The horse’s silhouette is heading right, into the future, and represents the brand’s growth and velocity.
The following is the analysis of the TVS competitive force model:
Supplier Power – Although TVS has long been a popular provider for low-income clients in the two-wheeler industry, we will examine the suppliers’ influence in this case. The TVS supplier market is very fragmented, and the possibility of backward integration is also strong, limiting the suppliers’ strength. TVS works with a number of local vendors to procure spares and components for its cars. The arrival of numerous new small-scale manufacturers has also aided big vehicle manufacturers such as TVS in obtaining highly competitive prices for their spares and parts. This plainly demonstrates the supplier’s poor power.
Buyer Power: Buyers’ power is greater in the two-wheeler sector due to the wide range of products and brands offered. Today’s buyers are choosy and particular about what they want for their money. They are seeking a brand that offers better prices and technology, which has eroded consumer loyalty for any company today and is TVS’s greatest danger.
The threat of Replacements: When compared to other factors, the threat of substitutes is rather modest, since the market appears to be growing and maturing every day. However, when we looked farther down the road, we could see danger from rapidly rising gasoline prices, which may force buyers to convert to more fuel-efficient diesel vehicles. Growing environmental concerns have also resulted in the introduction of bicycles and battery-powered two-wheelers, which might pose a challenge to TVS in the future.
TVS Motor – Employees
T. V. Sundaram Iyengar – Founder
Manu Saxena – VP Business Planning
K Gopaladesikan – CFO
Rajesh Narasimhan – CEO
Lakshmi Venu – Joint Managing Director & Non-executive director
TG Dhandapani – Chief Information Officer
TVS Motor- Challenges Faced
As of July 2020, Due to a shortage of trained labor, TVS Motor Company â one of the top manufacturers of motorcycles and scooters â was experiencing delays in the delivery of replacement parts and overall manufacturing operations.
Following the lifting of the lockdown in May, most manufacturers are attempting to ramp up output in order to meet demand. However, factors such as a spike in Covid-19 cases and a lack of personnel have hampered automakers’ capacity to boost car manufacturing.
According to the Society of Automobile Manufacturers, due to the negative impact of the Covid-19-induced economic downturn, car sales across all categories might drop by more than 25% in FY 21. This followed a decrease of 18 percent in domestic sales in FY 20.
Swiss Company EGO Movement offers innovative mobility solutions like e-bikes & e-scooters
September 17,2021
Undisclosed
Intellicar Telematics
Intellicar Telematics promotes shared mobility to reduce traffic congestion and emissions.
Dec 1, 2020
âš150M
Norton Motorcycles
Norton Motorcycles (UK) Ltd manufacturers motorcycles in the UK for world wide retail.
Apr 19, 2020
ÂŁ16M
TVS Motor – Subsidiaries
TVS Motor Subsidiaries include –
Norton Motorcycle Company
TVS Housing Limited
TVS Motor(Singapore) Pte. Ltd.
TVS Motor Services Limited
Intellicar Telematics Private Limited
PT. TVS Motor Company Indonesia
Sundaram Auto Components Ltd.
TVS Motor Co. (Europe) B.V.
TVS Motor – Growth
On Monday, TVS Motor Company reported that it sold 278,855 automobiles in July 2021, an increase of 10% over the same month the previous year. In the month of July 2020, the indigenous automaker sold 252,744 vehicles.
Not only has the brand seen an increase in domestic sales, but it has also seen an increase in international sales. In July 2021, it claimed to have shipped 103,133 automobiles, increasing 65 percent from the same month the previous year. In July 2020, it exported 62,389 vehicles. With 87,559 units delivered in July 2021, TVS saw a 62 percent increase in exports in the two-wheeler sector alone. It exported 54,141 two-wheelers to foreign markets in July of the previous year.
According to the automaker, demand in the export market is still strong, and container availability is increasing compared to the previous few months when shipping was disrupted. In the next months, TVS anticipates a further increase in container availability.
TVS Motor- Competitors
Bajaj Auto, Hero MotoCorp, Yamaha Motor, Suzuki Motor Corporation, Ather Energy, Honda, Royal Enfield, Kymco, Piaggio & C. SpA, and Piaggio & C. SpA are among the top ten competitors of TVS Motor Company.
TVS Motor – Awards and Achievements
Most recent awards and achievements are:-
Bike Awards – 2019 – Two-wheeler manufacturer of the year
Indian Motorcycle Of The Year – 2017
TVS Motor has been awarded Highest in Customer Satisfaction by J.D. Power Asia Pacific Awards for 2018.
TVS Scooty Zest 110 is awarded the Most Appealing Executive Scooter by J.D.Power Asia Pacific Awards for 2016.
TVS Motor Company was named the Two Wheeler Manufacturer of the Year by NDTV Car and Bike Awards 2015.
TVS is India’s Most Trusted Brand in the Two Wheeler Category
TVS Apache RTR180 is the Most Appealing Premium Motorcycle as awarded by J.D.Power Asia Pacific Awards for 2018.
TVS StaR City + is awarded the highest-ranked Economy Motorcycle by J.D.Power Asia Pacific Awards for 2018.
TVS Motor – Future Plans
While TVS Motor Company has already begun manufacturing and selling their new electric scooter, the iQube, in a few locations, the next 24 months are expected to witness exponential development, with a whole new variety of electric vehicles due to reach the market under the new vertical. The vehicles will most likely be two and three-wheelers with power outputs ranging from 5 to 25 kW. However, for the time being, the brand’s electric car division will work alongside its ICE vehicle division.
Speaking on his future plans, Sudarshan Venu who leads the new strategy says âWe want to scale up the TVS electric experience pan India, and it is a space where we would like to play a leading role. We’ve quietly worked on EVs for the last one decade. It is a huge focus area for us as we advance. We are embracing this future; we are investing in it and are excited.â
For the time being, though, it’s probable that the company is searching for partnerships to help them expand its charging network and satisfy consumer demands. In addition, the company has built a new EV plant that will be scalable to meet demand and is investigating the possibility of managing crucial backend production of batteries and other vital elements in-house.
TVS Motor – FAQs
Which country is TVS Motor based in?
TVS Motor is an Indian automotive company.
Who founded TVS Motor?
T. V. Sundaram Iyengar established TVS, a transportation firm with a huge fleet of trucks and buses, in 1911. Later
When was TVS Motor founded?
TVS Motor was started in 1978 by T. V. Sundaram Iyengar’s son T.S. Doraiswamy
Which companies do TVS Motor compete with?
Bajaj Auto, Hero MotoCorp, Yamaha Motor, Suzuki Motor Corporation, Ather Energy, Honda, Royal Enfield, Kymco, Piaggio & C. SpA, and Piaggio & C. SpA are among the top ten rivals of TVS Motor.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved byYap.
Technology has transformed the way financial transactions and operations happen. Today making and accepting payments, receiving loans, everything has become simpler than ever before. All thanks to tech startups, that are coming up with amazing products that have made financial operations much easier for financial institutions, business owners, and consumers. Chennai-based ‘Yap’ is one such startup that this revolutionizing the way banks and other financial institutions offer services to their customers. Yap provides tools that let banks and financial institutions design customized and convenient solutions for their customers. Here is more about Yap.
Yap offers a payments-as-a-service infrastructure that can handle all types of retail payment assets. Yap’s Application Programming Interface (API) platform allows digital platforms, fintech companies, and offline businesses to offer personalized solutions to their end customers, by linking them with other fintech platforms and banking and non-banking financial firms.
Yap’s functional APIs, let its clients receive and transfer funds through  Wallet & Cards, Cross Border Payments, Gift Cards, Fleet Spends, Just-In-Time Funding, UPI as well as other payment methods. Consumer, corporate, small business, and credit card loans are among the products it offers.
Yap’s modular platform ‘bank in a box’ enables its clients to offer products such as opening bank account, credit, online payment, toll payment, foreign exchange solutions, etc.
Many companies in Nepal, India, New Zealand, the UAE, Australia, and the Philippines are served by YAP. Around 20 Indian banks, including ICICI Bank, Yes Bank, and RBL Bank, as well as numerous consumer internet companies like Ola, Cred, Swiggy, and also large NBFCs like Muthoot, TVS Credit, Bharat pe, Razorpay, Finin, etc use YAP’s services on the lending space.
Yap – Latest News
In March 2021, Yap raised $10 Million in funding from investors like Flourish Ventures and Omidyar Network India. The fundraising round included participation from YAP’s current investors, including Beenext, 8i Ventures, and Better Capital.
âWe are uniquely poised to cater to new cohorts of distributors as more firms embed financial services into their digital platforms. This investment allows us to strengthen our technology teams, build new capabilities as well as reach new markets across Asia,â Madhusudanan R, co-founder at Yap, said.
Madhusudanan R is the Chief Executive Officer & Founder at YAP. He is a fintech entrepreneur with deep-rooted experience in building and scaling Payments businesses across Asia.
Prabhu R
Prabhu R is the Co-Founder & Chief Operating Officer at YAP.
Yap – Startup Story
Madhusudanan R. and Muthukumar A and came up with the Yap idea during the office tea breaks. The founders who worked at Visa Inc in Mumbai from 2010 to 2012, often realized how big banks were lagging behind in digitizing their services. The focus of these conversations was always on how the financial industry might fix this problem. Finally, Madhusudanan and Muthukumar, came up with a solution themselves and founded Yap in 2014.
The Yap founders observed how banks work in India, through their combined expertise of over a decade working for Visa, Citibank, and Paypal. They understood that due to their aversion to developing new digital products, banks were unable to reach a whole new set of clients. Yap is a solution to these problems, Yap’s is empowering many banks, financial institutions, and businesses to offer various customized solutions to its customers.
YAP’s unique API (application programming interface) gives banks and fintech businesses the tools they need to create new payment systems. This shortens the time it takes for these businesses to acquire consumers who want simple and quick electronic payment options.
âWhen we started, banks in India didnât use any APIs. In other markets, like the US, this phenomenon started ten years ago. In India, it started around 2014â15, when a few digital payment companies started to grow,â Madhusudanan, co-founder of YAP, told.
The firm claims to deal with 15 banks in India at the moment. Apart from providing an API for payment integration, including UPI payments, YAP also assists them in acquiring corporate clients, which are often digital financial institutions such as neobanks or the fintech divisions of big corporations.
âThey don’t have to spend any money on this, and they can reach a lot larger audience without having to spend money on client acquisition,â Madhusudanan explained.
Yap – Mission and Vision
Yap’s mission statement says, “We are focused on user experience and customer retention. We are constantly thinking of new use cases and ways to serve our customers across all their financial needs as seamlessly woven into their daily routine life as possible.”
YAP is on a mission to transform every business into a fintech.
Yap – Name & Logo
Company Logo of Yap
Yap – Business Model and Revenue Model
Yap provides B2B tech solutions to financial institutions and businesses. The YAP platform connects companies to licensed banks, financial institutions, and financial infrastructure such as UPI/card networks through its extensive Application Programming Interface (API) libraries. Within a few weeks, a company may connect to YAP’s platform, choose goods and banking partners, and roll out financial products to its consumers or vendors. In addition, YAP oversees essential continuing activities like reconciliations and compliance monitoring. YAP now serves over 200 fintech with an API platform.
Madhusudanan R – Chief Executive Officer & Founder
Yap – Funding and Investors
Date
Round
Amount
Lead Investors
Mar 16, 2021
Series B
âš732M
Flourish Ventures, Omidyar Network India
Apr 21, 2020
Series A
$4.5M
BEENEXT
Feb 13, 2020
Seed Round
âš100M
Amrish Rau
Yap – Growth
Around 20 Indian businesses, including ICICI Bank, Yes Bank, and RBL Bank, as well as numerous prominent consumer internet companies like Ola and PaisaBazaar, use the service.
âWe are uniquely poised to cater to new cohorts of distributors as more firms embed financial services into their digital platforms. This investment allows us to strengthen our technology teams, build new capabilities as well as reach new markets across Asia,â Madhusudanan said.
The 6-year-old firm offers comprehensive Application Programming Interfaces (APIs) to banks, startups, and consumer online businesses. The new funds (raised in March 2021) will be utilized to expand into foreign markets and bolster the team with new hires.
Yap’s major plans include expansion to new geographies and expanding the team. Â According to Madhusudanan R, co-founder of YAP, the company intends to grow to Bangladesh, Saudi Arabia, Oman, Egypt, Vietnam, and Indonesia.
India’s rapidly digitizing financial environment, according to Amol Warange, head of Omidyar Network India, would provide chances for YAP to expand.
“We think that digital enablers like YAP can catalyze financial inclusion and promote adoption of financial products among the next 500 million Indians who are projected to access the internet for the first time via their mobile phones” Warange added.
Yap – FAQs
What does Yap do?
Yap offers a payments-as-a-service infrastructure that can handle all types of retail payment assets. The company’s platform links banks, financial institutions, enterprises, payment networks, and merchants to build an interoperable payment platform that allows businesses to quickly design and carry out their own customized payment solutions.
Which country is Yap based in?
Yap is a Chennai-based, Indian fintech company.
Who founded Yap?
Yap was founded by Madhusudanan R and Prabhu R.
Which companies do Yap compete with?
Open Bank Project, Decentro, TrueLayer, Teller, Inc., Plaid, Konsentus, Figo, Quovo, and Instantor are the top ten competitors of YAP.
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 Codleo.
Codleo is known to be one of the best digital transformer and CRM solution providers. It offers a range of solutions to companies who wish to connect, engage, and build long-lasting ties with their customers, leading to growth and higher ROI. Founded by Late Mrs. Bimla Singh in 2019, Codleo aims to connect every business with its customers.
StartupTalky interviewed Mr. RS Maan (MD & Global CRO, Codleo) to get insights into the startup story and roadmap of the organization. In this article, you’ll discover how Codleo was started, its services, business model, growth, future plans, and more.
Codleo offers a range of solutions to companies who wish to connect, engage, and build long-lasting ties with their customers, leading to growth and higher ROI. Amongst these services, Codleo offers Salesforce Business Consulting, Greenfield Implementation, Integration with other systems, and Support management as well. Moreover, the company takes care of a brand’s online presence along with extending marketing, automating the customer’s buying pattern, and marketing analytics services. These services are generally covered in the digital marketing portfolio of the company.
In addition to all the Salesforce & digital solutions, Codleo is a product developer as well. Codleo ventured into the product development on the Salesforce Platform and developed apps that are ideal for small & medium businesses such as a Project Management App (ProjecLeo), Vendor Management App (VenLeo), Recruitment Management App (HireLeo), and Human Resource Management App (HRLeo).
Long term/short term vision – The vision of Codleo is to be a company with a heart works that overtime to achieve success for their expanding list of clients
Core belief – Codleo is working with a dream to connect every business with its customers. Every business should have access to their customerâs data in one click, to understand and improve the work processes & ensure customer delight
Codleo – Idea & Inspiration
The concept behind the formation of the company was to create an entity that functioned with a heart. The concept of the heart is important as the team believes in listening, understanding, empathizing, and batting for their clients. Codleo values its customers who are the kings, and the company is their soldiers for their success story. So, the company was formed with this objective in mind to be the best in the business but with a heart & soul.
Codleo is essentially a B2B service provider improving engagement/relationships between its customers and their customers via tech tools and solutions such as CRM and cloud offerings for specific roles and verticals.
Its foray into product development on Salesforce Platform has meant the development of selective applications which are ideal for Small and Mid-Market Companies. All these apps are built on Salesforce low code platform to offer a seamless & better experience to all users, a single platform to access all apps, and reduced IT infra & development cost, being a low code cloud platform as a service. These are the perfect fit for startups and MSMEs as they offer value for the investment as they are pocket-friendly as compared to other apps in the market. Plus they have been created especially for the MSMEs of India. There has been no pivoting from the initial product but tweaks may keep occurring to make improvements in the products.
Codleo has a subsidiary called Codleo Consulting Inc which has just been launched to serve the North American market and it has its very own CSR wing â The Codleo Foundation.
Codleo – Founders and Team
The Company was not founded overnight or on a whim. It was with great thought and deliberation that the idea to form a company that operated with ethics, sensitivity & people focus germinated. Late Mrs. Bimla Singh is the founder of Codleo. The co-founders of Codleo are friends â Mohit Sharma and Rahul Ray.
Codleo Founding Members
Mohit Sharma | Co-founder, Codleo
Mohit Sharma is a technical graduate, a 10x Certified Salesforce solution engineer, CRM advisor with over 10 years of experience implementing Salesforce. He is currently handling the complete delivery of Codleo consulting. He is also an Advisory member and speaker at The Codleo foundation. He is responsible for masterminding, outlining, and developing projects.
Rahul Ray | Co-founder, Codleo
Rahul Ray has a background in the travel & hospitality industry of over 25 years. He is currently serving as Director and the marketing head for the Codleo Foundation, the CSR wing of the company.
RS Maan | MD & Global CRO, Codleo
RS Maan – MD & Global CRO, Codleo
Mr. Maan has 20+ years of experience in Business Development, Account Management, Market Research, Sales & Strategy Development, Leadership & Operations in the IT software industry.
Team & Work Culture
The team currently has 65 plus Codleons. Hiring is conducted by the HR department via different means such as job websites, social media channels like LinkedIn, educational institutes, and referrals.
“Our work culture is one of team spirit, collaboration, innovation, learning, diligence, work ethics, and a growth mindset” – says RS Maan, MD & Global CRO, Codleo.
Codleo Team
Codleo – Ideology behind name, tagline & logo
Codleoâs name has been derived through an amalgamation of two words â Code and Leo (Lion). The former stands for coding and Leo/lion represent courage to undertake bold decisions and resilience in the face of challenges because, as per Codleo, thereâs no life without challenges.
Codleo’s logo is a lovable & cherubic young Lion/Leo whose name is Riki.
Codleo Logo
Codleo’s tagline is âCompany with a heartâ. It represents its core principle to put itself in the shoes of its clients, understand their pain & issues and work for their success.
Codleo – Business Model & Revenue Model
Codleo is essentially a B2B service provider. Codleo’s revenues are based on the services provided to its clients. It operates on a 10-20% markup on its services/invoicing.
Getting brands and businesses to trust a Startup with Work is never easy with many rocky paths. The initialization of Codleo was not easy. However, the team believed in themselves during the initial days of launch. This confidence helped them to persuade brands to give them a chance slowly and steadily since no brand wants to work with new players who aren’t tried and tested.
Within a year of the launch in April 2019, Codleo acquired around 32 customers who are a mix of start-ups, MSMEs, and enterprise giants. These customers are from different industries but mainly from manufacturing, education, healthcare, and Nonprofit. The company has secured its standing in a short period of time due to its adherence to best practices, client-first focus & the quality of solutions offered by Codleo.
The startup’s cost-effective and diligent services, adhering to best practices, ethics, use of the latest tech and solutions, and trust have helped it to retain and expand its growing family of customers around the world. Codleo does not spend money in any traditional form of marketing. It only promotes via social marketing channels and referrals.
“We do not undertake any marketing campaigns. Our content/satisfied customers are our brand ambassadors/marketing campaigns and many refer our businesses to us and it goes on” RS Maan added.
Codleo – Challenges Faced
“At the very beginning, we faced the issue of manpower joining the startup. People donât wish to join startups as they feel their future is shaky/unsure and donât want to risk their careers & stability” says Mr. Maan.
Gradually over time when customers started trickling in, trust developed and the company started stabilizing, this issue of manpower faded away. The initial team had come on board as they had trust & valued the managementâs determination/confidence to make sure that the venture succeeded.
CSR Wing Codleo Foundation and manpower solutions wing Codleo Staffing have been launched
Codleo Consulting Inc for tapping into the market USA market has just been launched
Codleo – Funding
Funding as of now has been the personal investment by the managing director. Plus there has been funding by professionals in various tech domains that have joined hands with Codleo in the capacity of advisors and so on.
In the near future, Codleo wants to focus on MSMEs and Global businesses not only in India but also in North America, Canada, Australia, and the UK. In North America, Codleo Consulting Inc has been incorporated, and soon they will start operations in the East Coast area of the USA. The company is also deciding to open its delivery centers in Hyderabad and the hills of North India to capture the right talent.
The company wants to introduce CRM as a subject in collaboration with educational institutions especially under technical programs like B. Tech and get young Indians trained in Salesforce as a technology. Codleo is also taking the initiative of giving profit/share to the employees who are contributing significantly to the growth of the company to boost employee motivation.
It is seeking to get more business from companies overseas to provide Indians employment and boost the countryâs economy and play a humble role in the countryâs progress. Codleo proposes to be a company with around 500 Codleons by 2023.
Codleo – FAQs
What is Codleo?
Codleo is one of the best digital transformer and CRM solution providers. It offers a range of solutions to companies who wish to connect, engage, and build long-lasting ties with their customers, leading to growth and higher ROI.
Who are the founders of Codleo?
Codleo is founded by Late Mrs. Bimla Singh in 2019. Mohit Sharma and Rahul Ray are the co-founders of Codleo.
How does Codleo make money?
Codleo’s revenues are based on the services provided to its clients. It operates on a 10-20% markup on its services/invoicing.
What is the meaning of ‘Codleo’?
Codleoâs name has been derived through an amalgamation of two words â Code and Leo (Lion). The former stands for coding and Leo/lion represent courage to undertake bold decisions and resilience in the face of challenges because, as per Codleo, thereâs no life without challenges.
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 Locobuzz.
Locobuzz leverages technology to help brands strengthen their relationships with consumers and increase the lifetime value of a customer!
It is a unified customer experience platform that uses various technologies like Artificial Intelligence, Machine Learning, Big Data, Analytics to enable brands to effectively engage with their customers and in turn form strong and long-lasting relationships. Founded in 2016, the startup aims to democratize access to technology and envisions empowering companies to foster lasting relations with their consumers.
StartupTalky interviewed Mr. Vishal Agarwal (Co-founder & CEO, Locobuzz) to get insights into the startup story and roadmap of the organization. In this artcile, you’ll discover how Locobuzz was started, its funding details, services offered, competitors, future plans and more.
Locobuzz is a unified customer experience platform that uses various technologies like Artificial Intelligence, Machine Learning, Big Data, Analytics to enable brands to effectively engage with their customers and in turn form strong and long-lasting relationships. The startup likes to think of itself as a technology bridge connecting brands with its consumers.
Its mission statement is: âBy democratizing access to technology, we envision empowering companies to foster lasting relations with their consumers.â ‘Empowering’ is a plethora of things â insights, analytics, engagement, and automation.
In the near future, the team wants to ensure that Locobuzz has all the bells and whistles needed along with important data sources to be the perfect consumer experience platform and in the long term, the startup also wants to venture into enabling brands to reach out and identify new customers and manage their marketing campaigns via its platform.
Locobuzz – Industry Details
In 2019, the entire total CX management market is sized at around 16 billion dollars but post the pandemic, data reveals that by 2023, it is expected to grow to about 25 billion dollars by 2023. It is evident that the pandemic has been a catalyst for the increased growth rate in demand and supply of digital customer experience management. Businesses have moved online and become digital, users are becoming more attuned to the concept of âself-serveâ and are becoming digitally-centric when it comes to their interactions with brands while setting new expectations about customer engagement standards.
If you look at it, the CX market is vastly broken into three major services – web analytics, content management, and text analytics â this is where the majority of the market share goes and these are the areas Locobuzz operates in. With the events surrounding the pandemic in the past two years, it believes that the market will grow upwards to a CAGR of 20%. Locobuzz has always witnessed significant growth in its monthly revenues and a 100% growth in its monthly recurring revenue â which to the team, is both a sign of positivity and a remarkable opportunity to add value with their work and more.
Locobuzz – Startup Idea and Inspiration
Locobuzz was founded in Mumbai in 2015. The founders had a strong belief that unstructured social media data if analyzed and understood right and combined with the right use of technology is a powerful tool. Hence the idea of combining powerful analytics, driven by data from various social media channels gave rise to the creation of âLocobuzz â Location-based buzzâ.
The founding members carried out simple but effective data analytics on unstructured data focusing on processing large volumes of real-time data and further augmenting it with sentiment analysis, location, priority, influencer, viral, etc. As the team engaged with customers soon they realized that analytics is great but communication/engagement is equally important if not more. Brands needed tools to bring their CX game to social media. Looking at this, the team realized the need to have a platform for smart team workflows, tickets management, intelligent routing, and even AI-led auto-responses and other features around customer engagement to have a better product-market fit.
Thus, Locobuzz evolved into a fully integrated, unified Customer Experience Platform. Locobuzz builds software to smartly connect brands and customers to each other!
Listen, Analyze and Engage with their customers
Automated customer interactions using AI
Realtime Data Analytics Hub, Research and Insights
Marketing and Advertising intelligence
Locobuzz currently works with close to 150 reputed clients across geographies.
Customer satisfaction can be optimally achieved with two critical factors: The use of powerful AI-led technologies that aid omnichannel digital presence, and secondly, deep customer and market insights drawn from social listening and big data analytics that propel brand growth. The most essential differentiator between good technologies and great technologies is their ability to process large volumes of data intelligently, and in real-time to propel brand growth. Locobuzz does exactly that. Without a doubt, social listening, big data analytics, and well-developed AI automation are the need of the hour for brands across sectors, with no exceptions.
In addition to which response management as a key function helps brands bridge the gaps between themselves and customers through smart workflows, rich insights, and engagement at scale. Through the right technological advancements, Locobuzz ensures brands have the capacity to serve their customers and cut past their competitors through future-ready innovation and the ability to adapt to changing demands of the market. A platform like Locobuzz works to ensure that a brandâs digital health is strong, that they remain well informed, and their digital engagement approach is effective and strategic. Mostly, Locobuzz ensures that a brand knows who their customers are, and exactly how to retain them. All efforts eventually help ensure that the brandâs outreach efforts stand out to their customers impactfully.
Therefore, to summarize what Locobuzz does is: It leverages technology to help brands strengthen their relationships with consumers and increase the lifetime value of a customer!
Locobuzz – Products/Services
USP
At Locobuzz, the team focuses on building technology that facilitates brand growth through social intelligence and AI-led automation. Locobuzz uses NLP and NLU capabilities which are developed in-house which enrich customersâ data to include a variety of customer data attributes such as age, gender, opinion, location, and 18 other such attributes with 90% or more accuracy and F1-Score. Using this Locobuzz automatically recommends what response should be sent out to the customer as well.
For enterprises, data security and data isolation are some of the biggest challenges when dealing with 3rd party platforms. Locobuzz follows a multi-tenant architecture that enables it to keep each clientâs data separate from other clients. Locobuzz undergoes a vulnerability assessment and penetration tests every 6 months through a leading 3rd party security firm in India to harden the security and proactively plug any vulnerabilities if found.
Locobuzzâs scalable architecture automatically caters to higher data volume and adjusts/self-corrects in case of any anomalies. The Locobuzz dashboards present data in real-time without any unnecessary overheads and reduce server costs. Its command center leverages this technology and presents insightful data for brands to act upon.
Locobuzz recognizes the role of machine learning and is investing heavily in it. In its product roadmap, many features such as, content recommendation engines, virality alerts, productivity, and workforce optimizations, etc are based on machine learning which is currently non-existent in this domain. It also has VOIP integrations to deliver a complete omnichannel experience.
“As we evolve in our capabilities, we always ensure that the simplicity of our software is maintained and never compromised” – Says Vishal Agarwal, Co-founder & CEO, Locobuzz.
Locobuzz – Founders and Team
Vishal Agarwal, Nitin Agarwal, and Shubhi Agarwal are the founders of Locobuzz.
Shubhi Agarwal | Co-founder & COO, Locobuzz
In her current role, Shubhi oversees product development and envisioning long-term productivity of incremental changes, upgrades, and innovations. Shubhi is responsible for creating visibility of the product and curating beneficial associations between businesses and opportunities in Artificial intelligence and digital customer experience.
Prior to co-founding Locobuzz, Shubhi has worked with Tata Motors, Integriti planners, YEN Management consultants, UTV Software Communications Ltd, Bigflix, Hungama, BoxTV- Times Internet, and Spatial Ideas. She has a degree in BE in Electronics and Telecommunications from Amravati University, Shubhi is an MBA graduate in Finance from California State University, USA. Â
Vishal Agarwal | Co-Founder & CEO, Locobuzz
As the Co-Founder and CEO of Locobuzz, he spearheads the strategic goals of the company and is instrumental in constructing the companyâs future roadmap. Prior to laying the foundation of Locobuzz, Vishal has worked across the US, India, and the Middle East on GeoSpatial Analytics. Vishal also worked with Nitin on a tech startup before Locobuzz to ensure transparency and accountability in governance using technology. A graduate from Amravati University in BE â Electronics and Telecommunications, Vishal did his Masters in Electronic Engineering and Geography Information Systems from Penn State University, the USA in 2003.
Nitin Agarwal | Co-Founder & CTO, Locobuzz
Nitin, in his current role, is responsible for building winning teams and delivering innovative and secure technological solutions leveraging AI, Analytics, big data, and automation to streamline Digital Customer Experience. Nitin holds a bachelorâs degree in mechanical engineering and has 14 years of experience in designing and developing B2B and enterprise applications. Nitin was one of the leading professionals in the industry to identify the early advantages of using artificial intelligence and machine learning in customer experience and analytics, thus placing Locobuzz at the forefront and leader of innovation in this domain. Nitin has been responsible for enabling the seamless integration of the platform with various business demands and processes. His innovation mantra is that technology should be reliable, stable, and easy to use.
The journey of Locobuzz began a few years earlier to its launch in 2015 when the idea of utilizing big data analytics for customer insights and brand upliftment was something that the market was yet to truly discover. Upon deciding to create a product and an opportunity in a market like that, it had to really sell its value to its buyers.
In a country like India, sales like these were preferred to be done in person, rather than online. The common consensus was that customers wanted to meet in person to understand the product. So, when Locobuzz had 0 customers, all it was equipped with was an idea and a product at its prototype stage. It had fitted the prototype with the public data of one potential customer and took the results with it when the team went to meet them. When Locobuzz showed them the value of their data, they loved it, and signed up immediately â gradually even increasing the scope of work over the years.
The initial formation of Locobuzz’s product and its road map was very heavily governed by its client and close partners when it started out, but as Locobuzz grew to become a unified SaaS product, it was slowly able to transform from customized solutions for every challenge and embody a certain branded uniformity which could house the sector-agnostic challenges on a single dashboard. Â
Having said so, Locobuzz still caters to needs for the integration of diverse CRMs that are now handled easily in a plug-and-play model. After it  was successful in impressing a few clients with the work it had done for other businesses, it was able to build a lot of trust and confidence in the kind of work it was doing.
The problem that Locobuzz is solving is very real â and people needed something like Locobuzz. So, initially, the startup had to put more effort into explaining the severity of the problem it was solving, however, today, the need for the world of customer experience management is much more well defined, thus the interactions Locobuzz has with people are more about pricing, timing and being there in a meeting more than anything else! Now that the need is more well-defined, what is interesting to see is that there is more uptake of products like Locobuzz in India and across the world.
“We as a startup have been able to compete with some of the market leaders in our direct space and hold our ground really well. So, now when we reach out to customers itâs quite different â we focus a lot on making sure that our inbound engine is much stronger than our outbound engine” – Vishal added.
What has worked consistently in keeping the faith of customers in its services is the support system Locobuzz offers them. The startup is more than efficient at identifying the critical needs of customers and delivering assistance whenever they need it. In terms of innovation and strategy, it has been vehemently ahead of its competitors and have never taken the short path to research and execution. They have done right by tech adoption and integration while maintaining the speed and consistency. Most importantly, Locobuzz continues to think ahead to discover and create opportunities to innovate and never forget to be there for its customers.
The overall branding and marketing of Locobuzz is a collection of efforts. Currently, Locobuzz is focused on elevating its brand image to make sure it is always relevant in the minds of people whenever they think of âUnified Digital Customer Experience Managementâ. It has steadily expanded its presence on all major social media platforms and other digital mediums. Through blog posts and published articles, it constantly touches upon the many topics in its domain from a thought-leadership perspective ensuring the content reaches the right audience.
Locobuzz’s marketing strategies are appropriately adjusted to reach out to the overseas market. For example, e-mail marketing is a crucial part of its overall strategy of touching base with potential customers in the US and India, on the other hand, its dedicated Pre-Sales team connects with those expressing interest in this space.
For Locobuzz, participating in events â in both India and overseas â has proved to be lucrative. It has had the opportunity to share interesting learnings about its work with the clients while highlighting Locobuzz’s successes and the way in which Locobuzz can improve the overall Customer Experience of other brands as well.
It has focused its marketing efforts on gaining a trustworthy and steady association with âUnified Digital Customer Experience Managementâ to drive innovation as thought-leaders from the space of CX.
Locobuzz – Challenges Faced
The biggest challenge that Locobuzz faces is that it will be compared to the global players in the same industry. In the initial phases of the firmâs establishment, the team were asked (all the time!) if such a small company would exist in a few years. Â There were times where they had to disclose its financials to close some deals and prove that they were indeed a profit-making company.
Eventually, as a matter of practice, Locobuzz focused on building its website and building the thought-leadership content, to ensure that it continues to remain in the mind space of people searching for products like Locobuzz. In that sense, the founders do believe that this mindset has changed because India is being recognized as a country that can build tech solutions for the world.
“We think this challenge is still very prevalent” Vishal continues, “There are still people who prefer to pay for expensive services with foreign companies when the same can be leveraged here in India. We at Locobuzz overcome these challenges by building trust, providing continued support, sharing our VNL, or giving free trials for months at a stretch sometimes. In a way, we believe that the confidence in the product is what is reciprocated in the experience it provides consumers”
Locobuzz – Growth
The future looks promising as the company is doing well, the team at Locobuzz is constantly building new products, acquiring new customers, achieving targets as per the expectations of the monthly recurring revenue. Locobuzz has already registered 60% of the growth over last year in just 6 months, and it is on track to a great year and push for significant growth in revenues and presence in some new key markets.
Locobuzz – Funding and Investors
In April’21, Locobuzz raised pre-series A for INR 9 Crores from SIDBI Venture Capital Ltd.
Locobuzz’s top competitors are – Konnect Insights, One Direct, Simplify 360, Meltwater, Salesforce, Sprinklr, Yellow Messenger, Talkwalker and Khoros.
Locobuzz – Future Plans
Locobuzz recently received its first round of funding. Through the funds raised, it is looking at expanding its technology teams, business development team, client services team with critical hires as well as focused marketing efforts. From a product perspective, the startup believes that analytics and automation for messaging channels are going to be a big deal, so the team is focusing on creating products to increase the value and adoption of these tech solutions, eventually garnering the future potential of revenue.
Locobuzz is looking at expanding to newer geographies such as the US and southeast Asia. It has already begun to create brand visibility and engagement – Locobuzz was recently a part of a US-based Omnichannel CX event and participated as silver sponsors to the event.
Locobuzz is a unified customer experience platform that uses various technologies like Artificial Intelligence, Machine Learning, Big Data, Analytics to enable brands to effectively engage with their customers and in turn form strong and long-lasting relationships.
Who founded Locobuzz?
Vishal Agarwal, Nitin Agarwal,and Shubhi Agarwal are the founders of Locobuzz.
Is Locobuzz an Indian company?
Yes. Locobuzz is an Indian company headquartered in Mumbai.
How much funding has Locobuzz raised?
In April’21, Locobuzz raised pre-series A for INR 9 Crores from SIDBI Venture Capital Ltd.
The world has changed completely, from creating fire with the help of stones to the creation of humanoid robots, we have come a long way and honestly, itâs fascinating as well as bewildering, how we have evolved over time. The technological advancement makes it more interesting, now we can do almost anything and everything with just a single touch from our hand. Life has become easier than one could ever imagine and it is also going to get more easier with the advancement of technology.
Now, this easy life sometimes can seem frustrating when you have an overbearing person over you and who consistently finds faults in whatever youâre doing. Unfortunately, this is very common in most work cultures. Imagine, working in a company, where you donât have an ever frustrated boss continuously nagging you for doing your work. Sounds impossible, right?
Well, it is not impossible anymore, say thank you to the technology-friendly world we live in, for creating something that can get you rid of your scary boss and can give you an option to work freely. Here, we are talking about a company whose CEO is a computer. In this article, we will talk about DAO and how itâs making noise in the world with its unique ability.
âItâs not that we use technology, we live technology.â
A Decentralized Autonomous Organization is also known as DAO is an organization that completely functions on computer codes. This organization is based on Ethereum blockchain technology, another cryptocurrency like bitcoin and smart contracts, Â this is making everyone go crazy with its unique concept.
A German company called Slock.it built a platform to launch and named it DAO and it was the first self-governing company. It was first launched in 2016 as a crowdfunding organization and made its place in the largest crowdfunding campaign in history.
Slock.it Founders – Simon Jentzsch, Stephan Tual, and Christoph Jentzsch
The code for this is open source. By the end of May 2016, with the help of crowdfunding, over $150 million were raised from more than 11,000 investors.
DAO tokens can be bought through Ethereum cryptocurrency. This thing mainly works with the help of some mathematical codes and transactions are possible without any involvement of a mediator. It has full-fledged security and looks after by the people who have stakes in here. Therefore, there is no CEO, boss, or hierarchy here, and is operated by only its stakeholders.
The token owners have their own system to operate and look after the organization and can be accessed by anyone at any time if they got a computer and internet.
How DAO is Different From Other Companies?
As mentioned before there is no board of directors or senior executives in DAO. Those who hold tokens are the shareholders and are presented with the right to vote regarding any kind of matter of the organization.
Apart from that, there is no employee kind of thing in DAO, contract-based projects are given, they are mostly called Contribution Contract and only after the stakeholder’s discussion, if they give a nod for the project, then the work can get started.
While the project has been started, if the contract anyhow fails to deliver the named project on time, instead of a confrontation between the boss of the company and the contractor, the token holders who voted for the contractor will withdraw their votes. Therefore, then and there the project stopped and the contract ends.
Tips For Contractors of DAO
In any kind of company, one needs to be cautious and sincere with their work. In a company like DAO, one needs to follow some rules strictly and those are:
The work needs to be done on proper time by the contractor.
The quality of the work has to be top class and must not be compromised no matter what.
Respect is one of the prime factors; one should treat people with the utmost respect.
Here the best always gets chances to collaborate with DAO for the projects.
Life has literally become a place where everything revolves around technology; in fact, we live and breathe technologies. We, humans, are evolving, so it is natural that with us every industry will also evolve and will witness a change that is worth watching for.
With cryptocurrency being the next big thing, it is just a matter of time that DAO will make a huge place in the world of business. Plus with its spectacular features, it is bound to be the talk of the world in the upcoming futuristic world.
FAQ
What is the Full Form of DAO?
The full form of DAO is Decentralized Autonomous Organization.
Does DAO depend on Computers?
Yes, DAO or Decentralized Autonomous Organization is an organization that is controlled by computer codes and different programs.
How DAO Tokens Can be Purchased?
One needs to buy Ethereum cryptocurrency and can exchange it online with DAO tokens.
Was DAO Hacked?
Yes, Less than three months after its launch, The DAO was hacked and $60 million of ether was stolen.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved byFareye.
For any business dealing with physical goods, logistics is an important segment to take care of. Today we are featuring FarEye, a SaaS startup that is helping business manage their logistics and supply chain easily and flawlessly. Founded by three Indian entrepreneurs, FarEye, is a global logistics SaaS startup that is simplifying logistics management for businesses and ensuring a great delivery experience for end customers. Here is more on the journey of the startup, its growth, and how it is disrupting the global logistics market.
On July 2021, FarEye secured $100 M in a Series E round headed by TCV and Dragoneer Investment Group. FarEye’s previous investors, including Eight Roads Ventures, Fundamentum, and Honeywell, were also involved in the round. The new funding also includes a little debt refinancing, but the amount was not disclosed.
The funds will be used to develop the company’s technology platform strengths, fuel expansion in Europe and North America, and investigate inorganic growth opportunities.
About FarEye and How it Works?
FarEye’s products include last-mile delivery routing software, logistics, and supply chain visibility software, and software to improve coordination between enterprises and logistics partners. FarEye’s cutting-edge logistics technology stack is making the delivery of goods a pleasant experience for everybody.
The AI-powered feature of FarEye optimizes end-to-end delivery and makes recommendations based on data aggregation. It enables businesses to obtain insights, outperforms over the last loop, and satisfy the customers. FarEye’s goal is to drive autonomously, deliver with autonomous vehicles and drones using aggregated data and real-time feedback. Â
FarEye enables global businesses to reduce delivery times by up to 27%, enhance courier efficiency by allowing up to 15%, remove hazards by up to 57%, and maintain operational excellence. The FarEye Intelligent Delivery Management Platform can assist your organization in going live faster, implementing process improvements quickly, and keeping your delivery ecosystem adaptable. With end-to-end visibility throughout the delivery journey, the engine provides an excellent logistics customer experience.
FarEye is a software platform that helps firms plan, track and optimize their logistics operations. If you order a pizza from Domino’s, the restaurant will use FarEye’s services, which is integrated into its database, to swiftly advise the client how long they will have to wait for their meal.
FarEye – Name, Tagline and Logo
In a world that is becoming increasingly borderless, supply chain management is more vital than it has ever been. To achieve performance and accuracy, operations would require timely coordination, insight, and control. FarEye lets businesses keep an eye on and control their logistics and supply chain remotely and easily, which possibly inspired the name ‘FarEye’.
FarEye’s Company Logo
FarEye’s tagline says, “Improving Logistics Collaboration And Driving Supply Chain Excellence.” Another tagline used in the company’s website is, ‘ Making Deliveries Better for Everyone’
FarEye – Founder and History
FarEye was founded by Kushal Nahata, Gautam Kumar, and Gaurav Srivastava in 2013.
Founders of FarEye – Kushal Nahata, Gautam Kumar, and Gaurav Srivastava
After 14 or 15 years of full-time education, the three founders really wanted to get out into the world, solve problems, and make a meaningful impact. The only question that lingered was what real-life problems could they solve? and the response came as a knock on the door. âE-commerce was just starting to take off in India at the time,â says Nahata. âHowever, if I ordered something online, the driver would contact me every time, inquiring where my house was, even though it hadn’t moved in years. After that, everything was done with pen and paper until the driver arrived. It was clear that there had been little change in the way logistics were organized.â This is where the idea for “FarEye” arose from.
FarEye’s first customer was Jabong’s logistics arm GoJavas in 2013, and it currently works with some of the world’s largest companies, including DHL, Walmart, Tata Steel, Hilti, and Amway, to help them digitalize and manage their logistics operations more effectively.
FarEye’s mission statement says, “With a mission to make logistics more efficient, predictive and organized, we set out to build a robust technology platform that leading global enterprises across 30+ countries adopted. We are on the path to building an autonomous logistics platform that would make it not just efficient but also self-sustaining & profitable for enterprises.”
FarEye – Business Model & Revenue Model
FarEye is a logistics SaaS startup and earns revenue from subscription charges. Businesses use FarEye’s intelligent and sophisticated platform to deploy several delivery models from multiple inventory locations, including same-day, next-day, on-demand, and doorstep. This includes overseeing the end-to-end delivery of goods and services to both consumers and businesses, using both third-party and in-house fleet methods.
As reported in 2020, FarEye has around 350 employees, and the company is handling over 10 million transactions a day. The company has clients in over 30 nations, and across many industries including transportation, logistics, retail, and FMCG. As per some reports, in 202o FarEye made revenue worth $26.8 million, and the company’s products are being used by over 150 businesses.
âLogistics spend globally is $10.6 trillion, out of which 70% is on transportation. However, there is scope to save $10 on every $100 of freight by optimizing returns, resource utilization, cycle time, and fragmented logistics processes resulting in savings of about $700 billion,â says Nahata.
FarEye is now firmly in expansion mode and grew quickly over the next few years. While most of the company’s early customers were logistics service providers, it currently serves shippers as well, and its customers can be located anywhere in the world. Â FarEye’s systems track between 5 and 10 million shipments per day.
FarEye – Funding and Investors
Date
Round
Amount
Lead Investors
May 25, 2021
Series E
$100M
Dragoneer Investment Group, TCV
Aug 19, 2020
Series D
$13M
Fundamentum, KB Global Platform Fund
Apr 10, 2020
Series D
$24.5M
M12 – Microsoft’s Venture Fund
Jan 5, 2018
Series C
$9.8M
Deutsche Post
Jan 21, 2016
Series B
$3.1M
Elevation Capital
Oct 5, 2014
Series A
$317K
Indian Angel Network
Nov 25, 2013
Angel Round
$32K
–
FarEye – Acquisitions
Acquiree Name
About Acquiree
Date
Round
PY Technology Pvt. Ltd.
PY Technology Pvt. Ltd. is an enterprise software and services company that provides Information Technology & Services.
Mar 5, 2021
–
Dipper
Digital Ecosystem for freight logistics
Nov 14, 2018
–
FarEye – Competitors
Some of the top competitors of FarEye are Ecom Express, project44, SAP Integrated Business Planning, SPiN, Optimal Satcom, FourKites, G2 Deals, Â Shipsy & Mojro.
Handling deliveries isn’t easy, according to the CEO. Shoppers, in particular, are expecting a same-day shipment, increased flexibility, and better transparency. Even for field workers, completing a good delivery requires more than merely gathering up or dropping off a package. To ensure successful delivery, a succession of events must occur at precisely the right time.
FarEye – Future Plans
âWe are solving certain problems for our customers today, but I feel we can solve much larger problems and help digitize the entire supply chain network,â FarEye CEO Kushal Nahata said.
As the coronavirus outbreak threatens supermarket and e-commerce companies’ capacity to deliver supplies to consumers on time, FarEye announced that ‘Serve’, a service that focuses on enabling the movement of everyday essentials, will be free for any company to utilize for more than a year.
âThe global pandemic has accelerated the need for enterprises to scale their supply chain operations efficiently to meet the rising share of online deliveries. FarEyeâs highly configurable last-mile and long-haul logistics platform has been validated by leading global enterprises across the 3PL, retail and manufacturing categories,â said Shweta Bhatia, a partner at Eight Roads Ventures, in a statement.
The startup wants to improve its integration capabilities so that it can provide organizations with a comprehensive plug-and-play solution. The firm, which already employs over 350 people, plans to add 100 more employees in order to speed up product development.
The largest future challenges for the firm will be developing better ways to assist clients to sustain the competitive advantage that comes from constant innovation and quick evolution.
FarEye has been profitable since its inception, but according to Nahata, an IPO is not in the cards for the near future. âRight now, our main aim is to growâ he stated.
FarEye – FAQs
What does FarEye do?
The AI-powered feature of FarEye, a Noida-based company, optimizes end-to-end delivery and makes recommendations based on data aggregation.
Who founded FarEye?
FarEye was founded by Kushal Nahata, Gautam Kumar, and Gaurav Srivastava in 2013.
Which companies do FarEye compete with?
Some of the top competitors of FarEye are Ecom Express, project44, SAP Integrated Business Planning, SPiN, Optimal Satcom, FourKites, G2 Deals, Â Shipsy & Mojro.
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 Kapiva.
Ayurveda is regarded as the oldest of the sciences, which focuses on healing our bodies and minds. The healing science, Ayurveda translates to “The Science of Life” in Sanskrit, the knowledge of which originated in India dating back to around 5000 years ago.
Also known as the “Mother of All Healing”, Ayurveda stems from the ancient Vedic culture when it was taught in the oral form in a Gurukul tradition by accomplished masters to their disciples who lived at their residence. In fact, many of the alternative medicinal sciences and therapies like homeopathy and polarity therapy are believed to have their roots in the ancient Ayurvedic principles.
Ayurveda is a complex form of alternative medicine that includes “panchakarma” or five actions, yoga, massage, acupuncture, and herbal medicine for the health and well-being of the body and mind.
Though much of the Ayurvedic knowledge of the past has been buried with it, some of them managed to be scripted and percolated to the present generation. Kapiva is one such brand that holds on to the ancient principles of Ayurveda and tweaks them to fit modern lives. The Modern Ayurvedic Nutrition Brand is based on the holistic approach to wellness and not just a curative science.
Read on to know the full story of about Kapiva, its Founders, How was Kapiva Started, Name, Logo and Tagline, Vision and Mission, Products and Services, Target Market Size, Business and Revenue Model, Startup Launch, Customers/Clients, Challenges, Investors and Funding and more.
Kapiva: Company Highlights
Company Name
Kapiva
Founders
Ameve Sharma & Shrey Badhani
Sector
FMCG
Founded
2016
Registered Entity Name
Adret Retail Pvt Ltd.
Website
kapiva.in
Kapiva: Latest News
October 27, 2021 – Malaika Arora backs Kapiva. The Bollywood actress will be joining as a strategic investor, brand ambassador, and âwellness mentorâ at the Kapiva Academy of Ayurveda.
Kapiva can be regarded as the “India’s 1st Modern Ayurvedic Nutrition Brand” that offers food-based innovations to help build healthier lifestyles for the Indians. With the rich legacy of Baidyanath, Kapiva acquired the knowledge and the authority to amalgamate traditional Ayurveda with the modern forms of nutrition.
Kapiva is derived from the three doshas in the Ayurvedic universe – Kapha, Pitta, Vata, which when balanced in a body, bring overall wellness. As mentioned earlier, the brand is established on the belief that Ayurveda is a holistic approach to wellness and not just a curative science.
The Ayurveda-inspired nutrition brand brings a range of organic fruits, vegetables, and other food products to improve the lifestyle of the present generation. The company also brings diversified solutions including daily wellness, men’s health, weight loss, digestion, diabetes, skincare, blood pressure, strength, destress and memory boosting, artho care, kidney stone, and more. In addition, Kapiva never fails to innovate its products to bring this traditional ayurvedic wisdom to consumers in modern, easy-to-use formats, along with delivering them with good nutritional value.
Kapiva Ayurveda
Kapiva: Founders
Kapiva is founded by Ameve Sharma and Shrey Badhani.
Kapiva Founders | Shrey Badhani and Ameve Sharma (L-R)
They joined hands in January 2016 to build the world of modern Ayurvedic brand, Kapiva.
Ameve Sharma grew up in Kolkata and belongs to the family, which founded the famous Baidyanath Group. His grandfather was the founder of Baidyanath and his father still stands as the current Managing Director of the ayurvedic pharmaceutical company. Ameve is the Chairman of the Western region at the Indian Chamber of Commerce and the President of the Baidyanath Group. He has also worked as a Consultant with McKinsey & Company after completing his MBA. He completed his Bachelors in Economics from New York University and went ahead to pursue MBA from INSEAD.
Shrey Badhani is an adept and experienced sales and marketing professional. He has been instrumental in driving growth and implementing strategic management at Kapiva. Shrey looks after the e-commerce platform, offline sales, marketing and operations for Kapiva. He started his career in Consulting with Bain & Co and Parthenon. Most recently, he worked as a PE investor with Bain Capital in their India office. Shrey pursued Bachelors in Economics and History from St. Xavierâs College, Mumbai and Masters in Economics from the University of Cambridge.
Kapiva has a talented team that bring a varied sense of experience to the table. From reputed business school graduates and experienced senior professionals to college freshers and hardworking amateurs, employees at Kapiva come from various walks of life and add value to the overall success of the company. This eclectic bunch brings the much-needed diversity in perception, having a positive impact on major business decisions.
Kapiva Apprenticeship Programme, where the seniors and experienced staff mentor juniors and help them gain valuable business insights. This has helped the employees gain a cohesive professional experience at a very young age.
Ayurveda has always been at the heart of the Indian tradition. However, somewhere along the way the true essence of it had been lost. People approached Ayurveda with a curative lens but it is in fact, a way of life! It relies on the principle of âfood is medicineâ and âyou are what you eatâ. Western countries have begun understanding the true value of ayurvedic sciences and the industry is booming rapidly overseas. With the advent of turmeric lattes, moringa cereals, and more, other countries seem to appreciate our traditions more than we do!
One of the major reasons why Ayurveda does not fare well in India is due to the lack of awareness about its benefits and values among the millennial population. Considering that India has one of the largest Gen Y population of the world, we are actually not catering to almost 34% of the total Indian population. To combat this, Kapiva has anchored on creating this awareness among the millennials and securing a modern ayurvedic nutrition stance to educate that section of consumers.
All products of Kapiva are created keeping the busy and on-the-go lifestyle of modern-day Indians, who seek to maintain an upkeep of their health in easy to use and convenient options without having to compromise on taste.
For instance, Kapiva Gummies are designed for on-the-go nutrition with the power of Ayurvedic herbs in a yummy-gummy format, which is convenient as well as a joy to consume!
Kapiva’s logo is interestingly designed in black and white where the starting letter of the brand, “K” stands in an enlarged version with the brand name “Kapiva” written inside it.
Kapiva | Name, Logo and Tagline
Kapiva rests on a core philosophy, “Your simple guide to everyday Ayurveda”. The name Kapiva is derived from the three doshas in the Ayurvedic universe – Kapha, Pitta, Vata, which when balanced in a body, bring overall wellness.
The founders believed in this balanced approach to health using Ayurveda, and the company is well poised to achieve its growth objective as consumers begin to adopt this philosophy by proactively seeking better nutrition. In addition to core Ayurveda, the various product innovations add further value to consumers, making Kapiva a preferred brand for modern wellness.
Kapiva: Vision and Mission
Kapiva’s mission is to provide a new-age Ayurveda for the new-age customers. Furthermore, the company wants to free Ayurveda of its complexities and enable millenials to make it a part of their everyday life, live a holistic lifestyle.
Kapivaâs vision is to not only provide Ayurveda-based nutrition products, but also bring balance into the lives of the customers through these products.
Kapiva: Products and Services
Kapiva stands for modern ayurvedic nutrition. They have been able to disrupt the traditional ayurvedic industry, by presenting the benefits of Ayurveda to the modern lives of the Indians in easily accessible and convenient forms. With the backing of an Ayurveda-inspired innovation, Kapiva has access to the best suppliers of natural ingredients in the country and has built a very strong sourcing story for all its natural products. In addition, the foundersâ exposure to various markets during their earlier experiences, has helped them understand the modern consumerâs needs very well.
Kapiva is designed for a fast-paced 21st-century lifestyle, especially where the lack of the right nutrition and inadequate immunity can pose serious health risks. The company has created a new category of modern ayurvedic nutrition, which never existed before, addressing the core consumer needs of health and taste.
For example, Kapiva Wild Amla Juice is made from ripe, yellow Amlas as they are more nutritious compared to the commonly used raw, green amlas. Furthermore, the juices are cold-pressed to retain all their nutritional content. All the products share such unique sourcing stories. The companyâs fast growth trajectory is a result of the innovation in product development by bringing better quality, more convenient products to the consumer.
Kapiva invests in R&D and innovates on sourcing better ingredients, convenient product formats, and consumer-friendly packaging, to deliver more value to the consumer. The company has developed a top-of-the-line and robust R&D setup in-house, while working with top food technology experts of the country, such as the former heads of R&D at companies like Britannia and HUL, to build best-in-class products ranges. Kapiva remains focused on innovating on more accessible nutrition, under the realm of Ayurveda. The purity and quality in the sourcing of ingredients have been given center stage.
Kapiva | Product Review
Kapiva: Target Market Size
Ayurveda is a âš30,000-crore industry in India. As per 2020’s estimates, Kapiva is expected to cross âš300 crores in revenue by 2025 and capture a significant part of this market. Kapivaâs market largely revolves around the Indian subcontinent, with a wide reach. Indians are believers in the power of Ayurveda and the modern Indian consumer is looking for a more accessible and convenient format of Ayurveda to consume its benefits. Kapiva has witnessed expansion abroad and is currently operating in the US, planning to expand to Canada and the European markets in the coming months.
Today, Kapiva has a portfolio of 50+ products and is present across the top online marketplaces (Amazon, Flipkart, Big Basket, PharmEasy, to name a few) as well as its own website (direct-to-consumer business model). The products are also available in 6000+ General Trade and Modern Trade outlets in the top cities of India.
Kapiva: Growth
Pre-COVID, the ayurvedic market typically witnessed 15-20% growth annually. Contrary to this, in the last quarter, many companies, large and small, witnessed growth between 50-90%. The adoption of Ayurveda as holistic, natural healthcare will have a positive impact on the market. Not just in India, the developing economic conditions of various nations are elevating the demand for Ayurvedic products globally. Ayurveda was considered a pharmaceutical approach earlier and was only used as a solution to specific problems. However, Ayurveda is actually about proactive, holistic health, and consumers are embracing it as such, now.
People around the world today, are focusing more on herbal products and leveraging herbal remedies to enhance their mental and physical health and wellbeing. The global Ayurvedic market was valued at Rs 300 billion in 2018 and is estimated to reach Rs 710.87 billion by 2024, as per Global Newswire. All of these are directly helping Kapiva to scale greater heights.
The company has grown to be a Rs 50 crore brand in just 3 years. Yes, Kapiva has witnessed a growth of Rs 0 – Rs 50 crore in revenue in less than 3 years. Some other growth highlights of Kapiva are as follows:
Kapiva currently boasts of having over 6,000 general trade outlets across 12 Indian cities and has been looking to expand it to 10,000+ outlets.
It has witnessed around 10x growth in the span of the last 30 months
It has launched 50+ products in 5 categories in 2020.
Kapiva: Business and Revenue Model
Kapiva follows a D2C strategy of business to deliver a true omni-channel experience of FMCG sales. The consumers of Kapiva’s products are typically in their mid-20âs to late 40âs, residing in Metros, Tier 1, and Tier 2 cities.
Kapiva has enjoyed a natural product-market fit, especially leading in certain categories such as Herbal Juices. The current strategy is to expand the footprint across channels, especially through marketing and new product development, both of which are being undertaken with a keen eye on consumer preferences. Customer focus determines the way forward for Kapiva.
Having its genesis as an offline brand, Kapiva had already enjoyed quite a success in the offline markets, which helped the company earn a turnover of about Rs. 3 crore a month in the first eighteen months or so. The company started focusing on online distribution from 2019 onwards. Therefore, it is the offline success that helped the company rapidly scale the online markets.
Today, along with its own D2C platform, Kapiva retails on all the prominent online marketplaces, from Amazon and Flipkart to Big Basket and Nykaa.
A major chunk of the company’s revenues comes from its digital channels. Furthermore, the products of Kapiva are also available across General Trade and Modern Trade outlets in the top cities of India, which also helps the company earn a considerable amount of revenue.
The company began by making its mark on online marketplaces such as Amazon. The herbal juices category was underrepresented on these platforms then, but the need was definitely present, as was the natural product-market fit. Kapiva capitalized on it and thus acquired the first batch of loyal users.
Kapiva: Customers/ Clients
Kapiva focuses very heavily on the right product positioning within a category, by taking great efforts to carve out compelling differentiators of the product before its launch. In addition, their strong go-to-market strategy helps with accelerated results as soon as they enter a category. However, above all, the company believes that it is the quality of their products which customers appreciate and call out the most, leading to better retention and word-of-mouth marketing.
Though the popularity of Baidyanath, which runs through the veins of Kapiva, helped the brand initially but standing as an Ayurvedic brand in a country dominated by allopathy is itself a laudable feat.
Kapiva initially started off as a chain of Ayurvedic clinics, through which high-quality products were sold as well. Pivoting from that clinic/retail model to the current FMCG model was also a challenge.
Fireside Ventures, Mohandas Pai Family Office, Marico Family Office (Sharrp Ventures)
April 2020
Series A1
INR 13.5 Crores
Jetty Ventures, Fireside Ventures, Marico Family Office (Sharrp Ventures)
Kapiva: Advisors and Mentors
Kapiva enjoys the mentorship of various experienced investors. The Baidyanath connection forms a valuable advisory channel as well.
Kapiva: Competitors
Kapiva competed with Patanjali, Dabur, Himalaya.
Kapiva: Recognition and Achievements
Kapiva has been awarded The Economic Times Emerging Consumer Brandof the Year 2020. Apart from that, the co-founders of Kapiva, Ameve Sharma and Shrey Badhani have been awarded Emerging Entrepreneurs of Year Awards in the Product or Manufacturing- Healthcare category.
Kapiva has grown from 0 to 50 crores in less than 3 years. It has scaled rapidly with over 3x increase in monthly revenue from March 2019 to March 2020. The company is expected to close FY21 with revenue run-rate of Rs 70 Crores per annum. Given the strong growth trajectory, Kapiva is all set for profitability within the next 2 years. Since launch, Kapiva has served more than a million consumers and is seeing good traction in, both, Indian and international markets.
The future plans for Kapiva are as follows:
1) Innovation through new product development. Kapivaâs range of immunity products is expected to expand soon, followed by products such as ayurvedic breakfast and ayurvedic effervescent drinks, which will cater to customersâ taste preferences, while being healthy.
2) Expanding the distribution network offline and scaling up the direct-to-consumer channel. Kapiva is currently present in 6,000+ general trade outlets across 12 cities. This is set to expand 10,000+ outlets and cover more cities by the end of this financial year. The direct-to-consumer channel has had a great growth story too â it grew about 20x in revenue in less than a year. It is expected that this strategic channel will grow another 5x this year.
3) Building their brand communication to share their story of modern ayurvedic nutrition. They are focussing on digital channels at the moment, since their customer base is largely present here.
Tanusha Verma
