StartupTalky presents Recap’23, a series of in-depth interviews where we engage with founders and industry leaders to explore their growth in 2023 and their predictions for the future.
The AI industry is a dynamic force, advancing machine learning and automation. From personalized user experiences to data analysis, AI is reshaping sectors globally. Its rapid evolution is driving innovation and transforming industries like healthcare and finance. The integration of intelligent technology reflects a pivotal shift in how businesses operate and adapt to the digital age.
The global artificial intelligence market, valued at $136.55 billion in 2022, is projected to grow at a compound annual growth rate (CAGR) of 37.3% from 2023 to 2030, reaching an estimated $1,811.8 billion. AI is expected to contribute $15.7 trillion to the global economy by 2030, surpassing the current output of China and India combined.
In a recent Recap’23 interview, we at StartupTalky had the privilege of connecting with Ranjan Kumar, Co-founder and CEO of Entropik. We looked into how Entropik has been growing, facing challenges, learning valuable lessons, and planning for the future. Discover how their innovative approach is changing the AI industry.
StartupTalky: What service does Entropik provide? What was the motivation/vision with which you started?
Ranjan Kumar: Entropik is a Human Insights AI company specializing in consumer and user research, offering vertical SaaS solutions and API/SDK platform integrations. The motivation behind founding Entropik was to redefine how businesses understand and analyze human emotions and behavior. The vision was to leverage advanced technologies, such as Emotion AI, Behavior AI, and Generative AI, to provide comprehensive insights into consumer and user experiences. By combining these technologies, Entropik aimed to revolutionize traditional research methods, offering faster, scalable, and more accurate solutions.
The overarching goal was to enable businesses to make informed decisions by gaining a deeper understanding of human behavior and emotions in various contexts, from consumer preferences to user interactions with physical and digital products. Entropik’s commitment to innovation and human-centric insights continues to drive its mission of transforming the way businesses leverage insights for data-driven decision-making.
StartupTalky: What new features have been added in the past year? What are the USP/s of Entropik’s service?
Ranjan Kumar: This year, we have experienced remarkable growth with noteworthy additions to our Insights AI technology suite. We kicked off the year by introducing Decode, an Integrated Consumer Research Platform powered by Entropik’s Insights AI, reducing Time to Insights by six times. It’s an all-in-one platform for Quantitative, Qualitative, Diaries, Media, and Shopper research, integrated with a Global Panel of 80 million Respondents across 120 countries. Decode acts as a Single Source of Truth, unifying data efficiently. Its Unified Intelligence and Co-pilot features assimilate past and present first-party and third-party research data for actionable insights.
Additionally, we launched Qatalyst, an Integrated User Research platform with Insights AI, making user research six times faster. It facilitates moderated, unmoderated, and task-based research across Concepts, Prototypes, and Live Applications in one place. Qatalyst provides instant access to the target audience. Qatalyst’s Insights AI platform employs facial coding, eye tracking, voice tone, and generative AI for unbiased insights, ensuring a human-centric approach to product and service design. It’s the go-to platform for supercharging user research—faster, more agile, and equipped with powerful AI-driven insights.
StartupTalky: How has the AI industry changed in recent years, and how has Entropik adapted to these changes? Are there specific regulatory or technological shifts that have influenced your marketplace strategy?
Ranjan Kumar: In recent years, the Insights AI industry has undergone significant changes marked by technological advancements and increased demand for comprehensive insights. At Entropik, we have adapted by launching products like Decode and Qatalyst, leveraging our Insights AI platform, which supports Emotion AI, Behavior AI, and Generative AI to provide holistic views of consumer behavior and enhance user research. Our commitment to ethical AI practices aligns with evolving regulatory considerations, ensuring responsible data handling and user privacy. Additionally, our global expansion and localization efforts reflect our adaptability to diverse market needs. Entropik’s agility, innovation, and customer-centric approach position us to thrive in a dynamic industry landscape.
StartupTalky: How do you stay up to date on the latest trends and developments in the AI industry?
Ranjan Kumar: We stay updated on trends through continuous learning, networking, and diverse information channels. We attend and host conferences, workshops, and seminars, engaging with experts to gain insights and also drive the industry forward. Ongoing education via online courses and webinars with reputable institutions deepens our understanding. Additionally, actively participating in academic research and leveraging technology news platforms ensures real-time updates on market trends. This multifaceted approach positions us to navigate the Insights AI market research landscape.
StartupTalky: What key metrics do you track to check Entropik’s growth and performance? How do you use these metrics to identify areas for improvement and guide strategic decisions for future growth?
Ranjan Kumar: We closely monitor several key metrics to assess Entropik’s growth and performance. These include customer acquisition and retention rates, revenue growth, and product adoption metrics. By analysing these indicators, we can identify areas for improvement and guide strategic decisions for future growth. Additionally, we track user engagement in our products, Decode and Qatalyst, to ensure we are meeting the evolving needs of our clients. These metrics provide valuable insights that inform our product development and business expansion strategies.
StartupTalky: What were the most significant challenges Entropik faced in the past year, and how did you overcome them?
Ranjan Kumar: The global economic downturn posed a considerable hurdle, affecting market conditions and consumer spending. Amidst this, our commitment to global expansion faced challenges, yet it proved to be an energizing journey. The opening of Series B funding provided valuable opportunities for growth and innovation. Leveraging this funding, we enhanced our technological capabilities, enabling us to adapt swiftly to changing market dynamics.
StartupTalky: Trust among all the stakeholders is very important for a marketplace. How do you ensure it?
Ranjan Kumar: Building trust in a marketplace requires a multi-pronged approach that cultivates a sense of shared responsibility and mutual benefit among all stakeholders. Transparency forms the cornerstone, with clear communication about policies, pricing, usage, and data practices fostering a sense of fairness. Investing in robust security measures and user privacy protections underscores respect for their information and builds confidence. Equipping both buyers and sellers with tools and resources not only enhances their sense of control but also empowers them, reinforcing a trustful environment. By consistently prioritizing fair practices, open communication, and stakeholder empowerment, a company can cultivate a marketplace where everyone feels valued, protected, and invested in its long-term success.
StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack that you pulled off.
Ranjan Kumar: Our marketing strategies encompass a mix of digital marketing, content marketing, and targeted outreach to key industries. We leverage thought leadership through webinars, whitepapers, and participation in industry events to showcase our expertise. One notable growth hack was the strategic use of customer testimonials and case studies, highlighting the tangible impact of our solutions. This not only boosted our credibility but also generated organic interest and trust in our offerings, contributing to increased market visibility and growth.
StartupTalky: What opportunities do you see for future growth in the AI industry in India and the world? What kind of difference in market behavior have you seen between India and the world?
Ranjan Kumar: Globally, the increasing reliance on AI-driven insights for consumer and user research presents a significant avenue for expansion. As businesses prioritize understanding human emotions and behavior, our advanced Emotion AI, Behavior AI, and Generative AI technologies uniquely position us to meet these evolving needs. In India, a rapidly digitizing landscape and a growing emphasis on data-driven decision-making create a conducive environment for our solutions. However, market behavior nuances differ, with diverse industries dominating each region. In India, sectors such as Fintech and E-commerce are witnessing rapid adoption, while globally, industries like Media and Telecom are equally pivotal. Understanding and adapting to these regional variations are integral to our strategy, ensuring that our offerings align with the specific demands of each market for sustained growth.
StartupTalky: What lessons did your team learn in the past year, and how will these inform your plans and strategies?
Ranjan Kumar: Over the past year, our team learned valuable lessons about the importance of agility, adaptability, and proactive communication. These lessons are instrumental in shaping our future plans and strategies. Moving forward, we aim to enhance our technological capabilities, further streamline our operational processes, and continue fostering a culture of innovation within our team. The resilience demonstrated during challenging times serves as a foundation for our strategic planning, ensuring we stay ahead in an ever-evolving landscape.
StartupTalky: How do you plan to expand the customers, service offerings, and team base in the future?
Ranjan Kumar: We have ambitious plans for expansion across multiple fronts. In terms of customers, we will focus on deepening our relationships with existing clients while actively pursuing partnerships in the US and European markets. Our service offering will evolve to meet emerging market demands, with a continuous commitment to advancing our emotional AI, behavioral AI, and generative AI technologies. Team expansion will be strategic, aligning with our growth trajectory, and will involve hiring top talent to drive innovation and support our expanding client base.
StartupTalky: One tip that you would like to share with another marketplace company founder?
Ranjan Kumar: As the founder of a deep-tech AI SaaS company, it is crucial to prioritize building and maintaining trust. Trust is the cornerstone of successful AI companies, influencing user adoption, retention, and positive word-of-mouth. Focus on transparency, ethical practices, and reliable customer support to foster trust among all stakeholders—customers, partners, and employees. Prioritize the long-term relationship over short-term gains, as a trustworthy reputation can significantly impact the sustained success and growth of your marketplace.
StartupTalky extends its gratitude to Mr. Ranjan Kumar for dedicating his valuable time and generously sharing his insights with all of us.
StartupTalky presents Recap’23, a series of in-depth interviews where we engage with founders and industry leaders to explore their growth in 2023 and their predictions for the future.
The Baby Care and skincare industry is dedicated to gentle infant products, emphasizing safety and hypoallergenic formulations. Brands increasingly focus on eco-friendly and organic options to meet the demand for sustainable choices. Safety certifications and dermatologist recommendations play a key role in building trust.
The ‘Baby & Child’ segment in beauty & personal care is projected to grow by $1 billion (+22.36%) from 2023 to 2028, with a CAGR of 11.75%. After eight consecutive years of growth, the indicator is estimated to reach $5.7 billion in 2028, marking a new peak.
In a recent Recap’23 interview, we at StartupTalky had the privilege of connecting with Monisha, Akanksha, and Tanay Sharma, Co-founders of CITTA; exploring how CITTA maneuvers within the baby care and skincare industry, we delved into their strategies, gaining insights into the distinctive operations of the brand in this sector.
StartupTalky: What products does CITTA sell? What was the motivation/ vision with which you started?
Tanay Sharma: We at CITTA sell baby bath and skincare products for babies, kids, and adults. When Akanksha was studying in the U.S, my mom and grandma used to call and check up on her regularly, like most Indian moms, and offer their advice in the form of ‘nuskhe’ — drink turmeric milk before you sleep for healthy skin, use rosewater when you’re out in the sun, oil your hair with coconut oil before you wash them!
Similarly, when I was studying in Toronto, my parents, Akanksha, and everyone used to call me whether I had eaten well or not or whether I was taking care of myself, my health, or my skin. This was their way of caring for me even though we were a thousand miles apart. These ‘nuskhe’ are based on Indian traditions and ingredients that we Indians have been using for thousands of years; it is time-tested wisdom that works!
I wanted everyone to experience this love and care that I was fortunate enough to experience. Also, around the same time, a famous baby care brand came under fire for using unsafe ingredients in their baby powder. It was a big deal. I knew so many friends and family back in India who were loyal to that brand and were using this product for their babies! This incident gave my mom, Akanksha, and me the final push to create a safer brand for babies, and that is how we started CITTA.
With CITTA, we aimed to create products rooted in Indian traditions but backed by science in terms of safety and efficacy. As a parent, you take advice from friends, family, experts, and doctors — and only then make any decision for your baby, especially about their health. We wanted CITTA to be the convenient option that parents could completely rely on for their child’s skin health. We are bridging the gap between tradition and science to give parents the best of both worlds. At CITTA, we want to uphold the true values of our brand while constantly evolving toward a global market and a diverse audience base.
StartupTalky: What other products/features have been added in the past year? What is/are the USP/s of CITTA’s products?
Akanksha Sharma: Recently, CITTA has undergone a remarkable transformation, introducing several exciting products and features that embody our commitment to providing the best care for your little ones. We have made ourselves more colourful and cuter. In response to the prevailing trend of monotone and single-colour packaging in the industry, we decided to break the mould.
We understand that childhood is synonymous with colours, so we infused pastel hues into our product labels to evoke the spirit of those cherished memories. Our unique approach stands out on the shelves and resonates with parents who appreciate the nostalgia associated with childhood colours.
We have launched our all-new Diaper Rash Cream. Crafted with natural ingredients and emollients, this cream goes beyond traditional rash treatment. Infused with the goodness of chamomile, sunflower, soybean, and zinc oxide, it not only addresses diaper rash issues but also prevents other rashes and nourishes and moisturizes the skin. We believe in the power of nature to provide gentle yet effective solutions for your baby’s skincare needs.
We have introduced our “MINIS” as well. In response to the valuable feedback from our customers, we have introduced our “minis” collection. These compact, travel-friendly versions of our popular products cater to the needs of parents who are always on the move. Whether it’s a weekend getaway or a quick errand, our minis ensure that your baby’s skin receives the same level of care and attention wherever you go.
At CITTA, our USPs lie in our unwavering commitment to thoughtful and effective skincare for babies and kids. Our entire product range is meticulously crafted with natural ingredients, harnessing the power of nature to care for your baby’s skin. We are proud to be free from toxins, harsh chemicals, parabens, sulphates, silicones, talc, mineral oils, allergens, petroleum jelly, and other potential irritants. This ensures that our products are not only safe but also gentle on your baby’s sensitive skin.
Our product range includes Moisturizing Baby Balm, India’s first moisturizer for the face and body with a balmy consistency that has the goodness of 8 natural oils, shea butter, and vitamin E and has no water to provide maximum moisturization while preventing rashes. Our talc-free baby powder is crafted with the natural alternative of talc such as corn, oats, and kaolin that keeps your baby’s skin smooth and soft, reduces friction, and prevent rashes while keeping it healthy. Our Foaming baby wash and foaming baby shampoo has a soap-free and tear-free formulation and is made with natural ingredients so that it cleans gently and keeps skin and scalp hydrating even after a bath. Our 12-in-1 Nourishing Baby Massage Oil has the goodness of 12 different oils to provide 12X nourishment and 12X Benefits.
StartupTalky: How has the baby care and skin care industry changed in recent years, and how has CITTA adapted to these changes?
Tanay Sharma: The baby care industry in India has witnessed a remarkable surge in demand for safe baby skincare products in recent years, leading to a significant rise in the presence and growth of homegrown and Indian brands catering to this sector. Several factors have contributed to this upward trend, including increased awareness among parents about the importance of using safe and natural products for their babies and a shift towards healthier and more sustainable lifestyles. Indian brands offer customized solutions by developing safe and effective skincare products for newborns, toddlers, and kids, leveraging the understanding of local preferences, cultural nuances, and traditional remedies.
Moreover, Indian markets are known for their access to high-quality raw materials. India has long been known for its rich reserves of natural resources, and this extends to the ingredients used in baby care products. Indian baby care brands have invested in research and development to understand the unique requirements of Indian babies, considering factors such as climate, skin type, and prevalent skin issues and sourcing locally available ingredients that are suitable for Indian skin.
Brands often utilize traditional ingredients known for their nourishing and healing properties, which resonate well with Indian consumers. For example, coconut oil, which is easily available in South India, is known to be beneficial for the skin and is well-suited for the region’s climate. Similarly, almond oil, which is readily available in North India, is known for its nourishing properties. Other traditional ingredients like turmeric oil, ashwagandha oil, brahmi oil, basil oil, and camphor oil are also beneficial for the skin and are culturally familiar to Indian consumers.
Indian and homegrown brands are putting a strong emphasis on natural and traditional ingredients, avoiding parabens, sulfates, silicones, strong fragrances, and potentially harmful chemicals. This commitment to safety and quality has helped build trust among parents who prioritize the well-being of their babies.
At CITTA, we already have placed a renewed focus on innovation and differentiation. Our commitment to research and development has allowed us to introduce cutting-edge products that address specific concerns faced by parents today. Whether it’s developing eco-friendly packaging, incorporating advanced technologies into our products, or introducing unique formulations, we strive to set ourselves apart in a crowded market.
We have invested heavily in sustainable practices, ensuring that our entire supply chain is environmentally responsible. From sourcing raw materials ethically to minimizing our carbon footprint, our commitment to sustainability is not just a market trend but a fundamental aspect of our business philosophy. This approach not only meets the demands of conscious consumers but also positions us as a responsible and forward-thinking player in the industry.
By staying true to our values and consistently evolving with the industry landscape, we are confident in our ability to not only navigate these changes successfully but also contribute positively to the evolving narrative of the baby care sector.
StartupTalky: Can you share examples of how staying ahead of industry trends has influenced CITTA’s product offerings or marketing strategies?
Akanksha Sharma: At CITTA, our commitment to excellence extends far beyond being a skincare brand for babies and kids; we strive to be a comprehensive and thoughtful solution for parents navigating the journey of parenthood. Staying ahead of industry trends has been a cornerstone of our approach, influencing not only our product offerings but also shaping our innovative marketing strategies.
Our dedication to providing value begins with information. We understand that parents seek more than just products – they crave knowledge and guidance. That’s why we have embraced a multi-faceted approach to disseminating information. Through live sessions with doctors on various social media platforms, we go beyond mere product promotion, delving into the broader aspects of parenting. These sessions not only inform our audience but also serve as an educational platform, empowering parents with valuable insights.
Our commitment to education extends to our website, where we’ve established an “Expert Corner.” Here, doctors and experts contribute articles and blogs, sharing their knowledge on diverse parenting topics. This not only enhances our credibility but also provides a valuable resource for parents seeking reliable information. Recognizing the importance of community-building, we leverage communication channels like emails and WhatsApp broadcasts. Through these channels, we offer personalized tips and insights, fostering a sense of community among our consumers. We don’t just want to be a product in their lives; we want to be a trusted companion throughout their parenting journey.
Furthermore, our approach to customer appreciation goes beyond conventional methods. We provide early access to our loyal customers, ensuring they are the first to benefit from new products and exclusive offers. This not only rewards their loyalty but also reinforces a sense of belonging to the CITTA community.
For Influencer collaborations, we prioritize authenticity over mere promotion. We encourage influencers to provide genuine and valuable feedback about our products, emphasizing the efficacy of our ingredients and why they are beneficial. This not only helps us reach a broader audience but also builds trust by showcasing real experiences with CITTA.
StartupTalky: What key metrics do you track to check CITTA’s growth and performance?
Tanay Sharma: At CITTA, we meticulously monitor a spectrum of key metrics to gauge our company’s growth and performance. Sales Revenue is a paramount indicator of market demand and consumer trust. Simultaneously, we scrutinize Customer Acquisition Costs to ensure efficient resource allocation, balancing outreach effectiveness with fiscal responsibility. Retention Rate speaks to our commitment to customer satisfaction, reflecting the loyalty and recurring business of our valued clientele. Conversion Rates help us understand the effectiveness of our marketing strategies, highlighting the seamless transition of potential customers into actual buyers. Inventory Turnover is a pivotal metric, signaling optimal stock management and responsiveness to market demands.
Our dedication to innovation is encapsulated in tracking New Product Performance, ensuring a pulse on market reception and adaptation to evolving consumer needs. Feedback from distributors and retailers offers valuable insights into product popularity, allowing us to fine-tune our supply chain dynamics for enhanced efficiency. Direct customer feedback serves as a cornerstone, fostering a responsive relationship with our audience and driving continuous improvement. Supply Chain Efficiency is pivotal, ensuring seamless operations from production to distribution.
Through vigilance in monitoring these metrics, we chart a course for sustained growth, innovation, and customer-centric excellence in the competitive realm of baby care.
StartupTalky: What were the most significant challenges CITTA faced in the past year, and how did you overcome them?
Akanksha Sharma: Gaining the trust of parents is the hardest task — they are the most discerning audience ever! But we support that — parents being conscious of everything they choose for their baby. Slowly, through our products’ efficacy, we have managed to gain the trust of a few thousand parents across India now, and we are only growing. Educating people about our ingredients and their effectiveness is not easy.
There are many preconceived notions and misinformation that get in the way, and we are on a mission to right those wrongs, if I may say so. We are doing this by working with doctors to make people aware of our products and their effectiveness and safety. Educating doctors about our products and the research undertaken to create them has been crucial to building people’s trust in our brand and creating demand for our products in offline stores.
StartupTalky: Repeat purchase is one of the most important parameters on which most eCommerce brands are betting. How do you keep your customers engaged to stop churn? Can you share specific customer retention initiatives or loyalty programs that have proven successful for CITTA?
Tanay Sharma: At CITTA, we understand the pivotal role repeat purchases play in the success of eCommerce brands. Our commitment to customer satisfaction and loyalty is evident through our presence on various online marketplaces, including Amazon, Flipkart, 1mg, Firstcry, The Mom Store, and Kindlife, ensuring accessibility to customers across India, even in 2nd and 3rd Tier cities.
Our products’ efficacy and unique ingredients stand as our foremost strengths, distinguishing us in the competitive baby care market. We prioritize being a customer-centric brand, with the ultimate performance metric being the number of repeat customers. Our success is measured not just in sales but in the significant number of repeat customers we’ve cultivated.
At CITTA, building trust is foundational. As customers experience the proven benefits of our products, their loyalty deepens. Our commitment to quality, transparency, and personalized customer care fosters lasting relationships. This approach not only safeguards against churn but also lays the groundwork for sustained growth. As we continue to garner trust, we are confident that our community of repeat customers will burgeon in the years ahead, solidifying CITTA as the go-to choice for discerning parents nationwide.
StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack that you pulled off.
Akanksha Sharma: CITTA has been employing omnichannel marketing from the start, unlike many other brands that begin with an online-only user experience and expand to offline channels later. We wanted our users to have the choice of interacting with the brand in the way most convenient to them, and our online and offline teams have worked together to achieve that.
With our offline marketing strategies, our products have reached multiple locations across India. Several brands focus just on tier I and tier II cities; however, we cater to locations like Ladakh, Mizoram, and Nagaland alongside tier I and tier II cities. To attract the right customers and make them aware of the brand, we focused on placing our offline advertisements where they could see them – the pharmacies and retail shops! The advertisements were designed to highlight our brand differentiators – unique, safe, natural ingredients and product formulations rooted in traditional Indian wisdom and backed with rigorous science. This not only boosted our offline sales but also generated curiosity about the brand, leading to traffic to our website.
Newspaper advertisements helped us to build this customer relationship more and reach a wider audience. An important part of our offline strategy was to build trust with doctors – pediatricians and dermatologists. They have started recommending our products to their patients. This number is steadily increasing and is helping us reach more and more physical stores in turn. It has been reassuring to see our products help babies with their skincare issues.
Our online marketing strategy has been multi-pronged as well. Here, too, our focus has been on establishing ourselves as a credible and trustworthy premium natural baby bath and skincare brand in India. We achieved this firstly by creating a brand language and identity that visually separates us from the competitors and has a great recall value. This brand identity is maintained throughout all our online channels – website, social media, and marketplaces – and has helped us cement the trust of our customers.
With our website, we have created a smooth, hassle-free buying experience. Our focus has been on ease of communication. Any customer service issues are dealt with promptly and effectively. We provide our repeat buyers exclusive offers to retain them. The website is also aimed at helping parents with their concerns regarding baby skincare; we have a dedicated space on the website that caters to this.
Our social media marketing strategies are also focused on bringing value-addition to our customers – in line with our brand ethos of being a wise grandma-like companion to new-age parents. We achieve this through a mix of engaging, community-building, promotional, and informational content. To us, bringing value to the table matters more than jumping on the flashy, short-lived trends. Our online marketplace campaigns have been designed similarly, and as a cumulative result of our omnichannel strategy, they have been getting traction from customers all across India.
We have also tapped into WhatsApp and email marketing. We run WhatsApp broadcasts and emails weekly to our existing customers with skincare tips and exclusive deals.
StartupTalky: What are the important tools and software you use to run CITTA smoothly?
Akanksha Sharma: We have a thoughtful combination of tools and software to ensure efficiency, organization, and seamless operations. We use an Inventory Management System to monitor stock levels, track product movement, and automate reordering processes. This helps prevent stockouts, reduces excess inventory, and ensures that popular products are always available. Our online presence is powered by reliable e-commerce platforms and Shopify. We use various Social Media Management Tools and Social Listening Tools. Through various Analytics and Reporting methods, we get insights into website traffic, customer behaviour, and sales performance. We also use email marketing software and WhatsApp broadcast software. Apart from that, we have a logistic management system.
StartupTalky: What opportunities do you see for future growth in the baby care and skin care industry in India and the world? What kind of difference in market behaviour have you seen within states in India?
Akanksha Sharma:
Expansion to other states- Modern Trade and General Trade: With an omnichannel marketing strategy, CITTA has been able to get sales from Tier I, II, and III cities and reach various general trade stores in Pune, Mumbai, Bangalore, and Gujarat. Now, we plan to expand to other states in India in both Modern Trade and General Trade sectors and establish ourselves as India’s best Baby Bath and Skincare brand.
Reaching doctors across India: Educating doctors about our products and the research undertaken to create them has been crucial to building people’s trust in our brand and creating demand for our products in offline stores. We want to expand our network to reach leading doctors (pediatricians and dermatologists) across India and become the brand every parent trusts for their baby’s skin.
Entering the international market as a pioneer of Indian skincare and baby care knowledge and techniques: We strongly believe that we are sitting on a goldmine of diverse natural ingredients and immense tradition-based knowledge in India. Especially so when it comes to skincare and baby care practices. What the rest of the world is only starting to appreciate and emulate is what we have been practicing in India for ages. “Maalish,” or baby massage, is a classic example. Even various Indian ingredients like turmeric have gained international recognition, which we are already using as one of the key ingredients in our products. We want to champion our Indian roots, back them with rigorous science, and bring India’s knowledge to the rest of the world with our range of products. Since our ingredients and products are made to international standards, so we want to create our own identity and presence in the international market as a pioneer Indian brand in the baby care and skincare segment.
Exploring products for adults: CITTA products have resonated with our customers because of their high efficacy. We have received positive feedback from numerous mothers. We want to build on this trust and explore products for women in the coming years. With our commitment to quality and efficacy, we are confident that we will be able to do this well.
StartupTalky: What lessons did your team learn in the past year, and how will these inform your plans and strategies?
Akanksha Sharma: As we embark on a new year, it’s crucial to reflect on the journey we’ve undertaken in the past 12 months. At CITTA, we encountered numerous challenges and celebrated remarkable successes, each contributing valuable lessons that will significantly shape our plans and strategies moving forward. Our unwavering commitment to meeting the evolving needs of parents and caregivers has been the cornerstone of our success.
The past year has taught us the importance of staying attuned to the ever-changing parenting landscape. We’ve witnessed shifts in consumer preferences and lifestyles, prompting us to invest more heavily in research and development. Navigating the complexities of the global supply chain has been an unexpected but invaluable lesson for our team. The disruptions brought about by external factors have emphasised the need for resilience and adaptability. We’ve learned to proactively diversify our sourcing strategies, build strategic partnerships, and implement agile inventory management systems. Recognizing the growing importance of digital engagement, we have invested in enhancing our online presence, creating user-friendly interfaces, and establishing a more robust e-commerce infrastructure.
This lesson informs our commitment to further digitalization, leveraging technology to connect with our audience and provide them with a seamless, personalized experience. Consumers are increasingly seeking products that align with their values, and we have embraced this paradigm shift. Our commitment to sustainable practices not only reflects our responsibility towards the planet but also resonates with the values of our target audience.
Armed with these lessons, our roadmap for the coming year is rooted in innovation, digital connectivity, sustainability, and operational agility. We are excited to unveil a pipeline of products that not only meet the needs of today’s parents but anticipate the demands of tomorrow. Our commitment to sustainability will deepen, and our initiatives will continue to evolve to enhance customer engagement.
StartupTalky: How do you plan to expand the customers, SKUS, and team base in the future?
Akanksha Sharma: We plan to expand our customer base by reaching more states through physical stores as well as online marketplaces. We are also finding new ways of engaging meaningfully with our customer community. CITTA also envisions a future in the adult skincare and women’s beauty segments, with plans to establish experiential stores nationwide. This journey embodies the fusion of tradition and science, paving the way for a sustainable and holistic approach to skincare. With all these, we will expand our team across states.
StartupTalky: With so much hype around D2C brands spending on ads, What will be your growth strategy, organic or inorganic? How do you plan to work around SEO and content marketing?
Tanay Sharma: In our pursuit of growth, we embrace a balanced strategy, leveraging both organic and inorganic channels. Organically, we prioritize authentic content creation, aligning with SEO best practices to enhance online visibility. Simultaneously, we explore strategic partnerships and collaborations to expand our reach inorganically. Our content marketing revolves around educating parents on safe and nourishing baby skincare practices, establishing us as a trusted resource. This dual approach ensures a holistic expansion, combining the power of genuine engagement with targeted outreach to enhance our brand presence and foster sustained growth.
StartupTalky: One tip that you would like to share with another D2C founder, based on your own experience
Akanksha Sharma: One invaluable lesson I’ve gleaned from navigating the ebbs and flows of managing a D2C brand is the significance of unwavering optimism. In the dynamic landscape of entrepreneurship, where decisions carry substantial risks and can profoundly influence the fate of your business, maintaining a positive outlook is not merely a mindset—it’s a strategic imperative. What I’ve come to comprehend is that while it’s crucial to meticulously weigh the pros and cons of each decision, it’s equally essential to approach them with unwavering optimism.
I’ve discovered that cultivating a mindset that focuses on the affirmative aspects, even in the face of uncertainty, can be a game-changer. This doesn’t mean disregarding potential challenges; instead, it involves acknowledging them while actively choosing to believe in the success of your chosen path. Once a decision is made, it’s paramount to let it breathe. Dwelling on the what-ifs and second-guessing can impede progress. Instead, embrace a daily routine that aligns with your goals.
Entrepreneurship is a slow and steady journey; hence, patience becomes a virtue. Every day presents an opportunity to make strides, and it’s essential to concentrate on incremental progress rather than fixating on past decisions. The entrepreneurial path is laden with challenges, but a positive attitude can serve as a resilient shield. Trust the process and focus on the daily grind, for it is in this perseverance that the fruits of your decisions will eventually materialize. Whether it takes months or years, success often unfolds at its own pace.
StartupTalky extends its gratitude to Ms. Akanksha and Mr. Tanay Sharma for dedicating their valuable time and generously sharing their insights with all of us.
StartupTalky presents Recap’23, a series of in-depth interviews where we engage with founders and industry leaders to explore their growth in 2023 and their predictions for the future.
The manufacturing industry is a cornerstone of economic development, producing goods on a large scale through processes like assembly and fabrication. Technological advancements and automation have increased efficiency, while sustainability and lean practices are gaining importance. The sector’s growth is a key indicator of a nation’s economic strength and global competitiveness.
Contributing 16-17% to the GDP and employing 20% of the workforce, the manufacturing sector saw an 11.4% production growth in fiscal year 2022. The Indian contract manufacturing market is projected to double from $19.63 billion in 2023 to $38.92 billion by 2028.
In a recent Recap’23 interview, we at StartupTalky had the privilege of connecting with Aditya Krishnakumar, Co-founder and CMO of Bidso. We analyzed Bidso’s development, hurdles, insights, and future strategies, exploring how Bidso is revolutionizing the manufacturing industry through innovation.
StartupTalky: What service does Bidso provide? What was the motivation/ vision with which you started?
Aditya Krishnakumar: Bidso is a contract manufacturing platform for General Merchandise goods. We make it easy and reliable for global brands to procure from Indian manufacturers. We do this by enabling the sourcing journey from start to finish, beginning with product discovery, supplier selection & vetting, value discovery, and finally, QC (quality check) and fulfillment.
Before Bidso, the founders were heading different categories & teams at companies like Flipkart, Amazon, Udaan & ITC, where it was clear that brands were finding it difficult to source products from India. Even brands that were actively looking to source from India were finding it difficult to locate reliable manufacturing partners who could provide quality products at great value.
Bidso was started to address this gap, with a vision to become an enabler and a catalyst for the Indian manufacturing ecosystem – for brands by making their sourcing journey seamless and for the manufacturing partners by enhancing their capabilities and capacities and also unlocking new sources of demand.
StartupTalky: What new features have been added in the past year? What is/are the USP/s of Bidso’s service?
Aditya Krishnakumar: We are constantly adding new features to our platform that make it easy for both our buyers and our manufacturing partners to transact.
A few examples are-
Detailed product specification breakdowns for cataloging.
Product specification comparisons.
Manufacturer dashboards and many other features.
Something that we are especially proud of is our in-house tech-enabled Quality Control Module that helps us to provide real-time QC (quality check) updates in production and pre-dispatch phases, to our buyers. This also helps our manufacturing partners to differentiate themselves from other factories by providing credible markers of quality for their products.
StartupTalky: How has the manufacturing industry changed in recent years, and how has Bidso adapted to these changes? Are there specific regulatory or technological shifts that have influenced your marketplace strategy?
Aditya Krishnakumar: The manufacturing industry has seen tremendous growth over the last few years, and the credit goes to the current government, which has been actively promoting manufacturing in India across product categories.
One of the major regulatory tailwinds that we are experiencing is the push by the government for Made in India toys. With an astute combination of tariffs and regulatory requirements like mandatory BIS certification, combined with the impetus to set up multiple toy manufacturing clusters across the country, there has been a huge fillip given to the manufacturing of Toys in India.
At Bidso, we are well-placed to contribute to the mission by manufacturing Toys in India for India & the world, and we expect the Toys category to be a major driver of growth for the company both from the domestic and international markets.
StartupTalky: How do you stay up-to-date on the latest trends and developments in the manufacturing industry?
Aditya Krishnakumar: Other than the obvious sources like news media, following the right people on X (formerly Twitter) can be invaluable as you can get direct input & latest insights on a wide range of subjects directly from people who have been there & done that. In addition, it is also important to cultivate a strong personal network & tap into it for invaluable support, wisdom, and relevant insights.
StartupTalky: What key metrics do you track to check Bidso’s growth and performance? How do you use these metrics to identify areas for improvement and guide strategic decisions for future growth?
Aditya Krishnakumar: The share of the category in Demand and the share of the category in Production are north-star metrics for us.
StartupTalky: What were the most significant challenges Bidso faced in the past year, and how did you overcome them?
Aditya Krishnakumar: We are very early on in our growth story; we were unfortunate to face the reality of losing one of our key customers, not due to any fault of our own, but due to the changing business priorities for the brand. While this was a difficult challenge, we were able to quickly step up and acquire other customers to continue driving our growth.
Another major challenge that we continue to face is hiring. The first 10-15 employees are extremely crucial when it comes to setting a good foundation for the company for future growth. We are able to navigate this by being slow, deliberate, and thorough in our hiring process.
StartupTalky: Trust among all the stakeholders is very important for a marketplace. How do you ensure it?
Aditya Krishnakumar: Ensuring trust among all stakeholders in a marketplace is crucial for its success. Some key factors to ensure this are:
Transparency: Clearly communicate policies, terms, and conditions to all stakeholders—buyers, sellers, and intermediaries. Transparency builds credibility and reduces misunderstandings.
Reliable Reviews and Ratings: Encourage genuine feedback from users and ensure authenticity by monitoring and verifying reviews. This transparency helps build trust by providing insights into the experiences of others.
Customer Support: Offer responsive and helpful customer support to address queries, concerns, and issues promptly. A reliable support system enhances trust by demonstrating a commitment to user satisfaction.
Quality Assurance: Enforce quality standards for products or services listed on the marketplace. Guaranteeing quality builds trust and credibility among buyers.
Data Privacy: Protect user data by adhering to stringent privacy policies and complying with data protection regulations. Respecting user privacy enhances trust and confidence.
Conflict Resolution Mechanisms: Establish fair and efficient dispute resolution processes. This ensures fairness in resolving conflicts, fostering trust among stakeholders.
Regular Updates and Communication: Keep stakeholders informed about marketplace updates, improvements, and changes. Transparent communication builds trust by keeping users engaged and informed.
StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack that you pulled off.
Aditya Krishnakumar: As a B2B sourcing startup, our growth is marked on different metrics and not on the number of downloads, MAUs, or views. There are limited to no shortcuts to growth in our business. Our business only grows when we consistently and reliably deliver superior value to our buyers and manufacturing partners day in & day out.
As far as marketing strategies are concerned, we use all the typical channels, such as:
Social media platforms such as YouTube and Instagram to maximise our reach
In addition, we also rely on our own platform to consistently reach out to the relevant audience and communicate our value proposition, delivering delight to our brand partners & manufacturing partners. Most importantly, we try to ensure that our work speaks for itself.
StartupTalky: Keeping up with supply and demand is important. How do you keep both in order while ensuring a seamless experience for users?
Aditya Krishnakumar: Managing supply and demand effectively is essential for a smooth user experience in any marketplace or business. At Bidso, we try to ensure a few things like:
Develop an agile and flexible supply chain that can quickly adapt to changes in demand. Establish relationships with multiple suppliers to mitigate shortages or unexpected increases in demand.
Ensure our infrastructure, both physical and technological, is scalable to accommodate fluctuations in demand without compromising user experience. Scalability prevents system crashes or slowdowns during peak times.
Communicate effectively with users about stock availability, delivery times, and any potential delays. Transparency builds trust and manages user expectations.
Collaborate closely with suppliers, logistics partners, and vendors to streamline operations and respond efficiently to changes in demand.
Engage with users to understand their needs, preferences, and feedback. Incorporate this information into supply and demand planning to better match offerings with customer expectations.
Continuous Improvement: Regularly review and refine strategies based on market dynamics, user behavior, and emerging trends. Continuous improvement ensures adaptability to changing demands.
Flexibility and Adaptability: Be ready to pivot strategies quickly in response to unexpected changes in the market, external factors, or user behavior.
StartupTalky: What are the important tools and software you use to run Bidso smoothly? Are there any emerging technologies or tools you are considering integrating into your marketplace operations?
Aditya Krishnakumar: TheZoho suite has proved invaluable to us. Similarly, B2B prospecting software like Lusha has been of great help in helping our demand teams find and connect with the right person for the brands and accounts that we are targeting. The technology team at Bidso is a capable bunch that meets most of our requirements in-house.
StartupTalky: What opportunities do you see for future growth in the manufacturing industry in India and the world? What kind of difference in market behavior have you seen between India and the world?
Aditya Krishnakumar: The opportunities are plenty. With many global brands actively trying to de-risk their supply chain and develop multiple sources of supply, India is well poised to capture an increasing share of global trade across industries.
Market behaviour differs widely depending on the region & the economy that we are talking about. There is no one answer, or a one size fits all approach. What works in Europe is different from what works in Australia, which is different from what works in East Africa.
A more interesting question is to ask what is common across markets, and there, the answer is clear. Every market seeks a superior experience at a better value compared to what they have currently.
StartupTalky: What lessons did your team learn in the past year, and how will these inform your future plans and strategies?
Aditya Krishnakumar: Learning to fail fast has been very valuable. Embracing failure as part of growth encourages adaptability and risk-taking and fosters a culture of experimentation and creativity. Identifying failures early aids swift adjustments, enhancing market responsiveness and individual resilience. Ultimately, the approach cultivates an innovative environment by reducing the fear of failure and leveraging insights for smarter future endeavours.
Another major lesson has been to have a laser-sharp focus on the scope of our company and our value proposition. It is tempting to do many things, but it is very important to say no to a lot of tempting potential opportunities.
Going forward, we plan on continuing to experiment and doubling down on our successes while maintaining a laser-sharp focus and delivering a superior experience for all stakeholders on our platform.
StartupTalky: How do you plan to expand the customers, service offerings, and team base in the future?
Aditya Krishnakumar: We have a fairly well-thought-out plan in terms of the business growth, categories to operate in, capability building on the production side, and the kind of team we need to execute. The next year will largely see us executing this plan to ensure we get quality growth at a rapid pace.
StartupTalky: One tip that you would like to share with another marketplace company founder?
Aditya Krishnakumar: One tip for marketplace founders is to prioritize building trust among all stakeholders. Fostering transparency, reliability, and a great user experience would also be some additional factors to look out for. Cultivating trust enhances user retention, attracts new participants, and fortifies the marketplace’s long-term success.
StartupTalky extends its gratitude to Mr. Aditya Krishnakumar for dedicating his valuable time and generously sharing his insights with all of us.
StartupTalky presents Recap’23, a series of in-depth interviews where we engage with founders and industry leaders to explore their growth in 2023 and their predictions for the future.
The period care and wellness industry has expanded with eco-friendly options like menstrual cups and others. Holistic approaches, such as herbal remedies, are gaining popularity for managing menstrual health. Inclusive marketing recognizes the diversity of experiences among those who menstruate. The industry’s evolution aligns with a broader societal shift towards prioritizing menstrual wellness and sustainable choices.
Projected to experience a 5.5% compound annual growth rate (CAGR) from 2023 to 2028, the feminine hygiene market is anticipated to surge from USD 24.6 billion to USD 32.2 billion by 2028. This growth underscores a rising global awareness and demand for innovative products and solutions in women’s health and hygiene.
In a recent Recap’23 interview, we at StartupTalky had the privilege of connecting with Devidutta Dash, Founder and CEO of Lemme Be. We covered Lemme Be’s growth, challenges, lessons, and future plans. Explored how Lemme Be is impacting the period care and wellness industry with innovation.
StartupTalky: What products does Lemme Be sell? What was the motivation/ vision with which you started?
Devidutta Dash: “Lemme Be” is a new-age period care and wellness brand that focuses on bringing sustainable, organic, and biodegradable period care products to the market. The company was launched in 2020 with the vision of breaking the taboo around menstruation and promoting a sustainable and healthy period care routine for young India.
The products offered by Lemme Be are designed for teens and GenZ. They are organic and sustainable, and the Z cups, which are the highest-selling menstrual cups, as the name suggests, are for GenZ menstruators. They come in cute packaging, flaunting a lot of colors, games, and content aiming to appeal to the younger generation and answer their queries.
“Lemme Be” positions itself as a menstrual hygiene brand for all menstruators. It aims to eventually establish itself as a Global Company from India that tackles the taboo of menstruation by imparting education to the Gen Zs and Gen Alphas about period hygiene.
StartupTalky: What other products/features have been added in the past year? What is/are the USP/s of the products of Lemme Be?
Devidutta Dash:
Sustainable
Certified organic
Menstrual cups that are 100% medical-grade silicone
Inclusive content
“Lemme Be” sells sustainable, organic, and biodegradable period care products. The vision behind starting the company was to break the taboo around menstruation and bring a sustainable and healthy period care routine to young India.
StartupTalky: How has the period care and wellness industry changed in recent years, and how has Lemme Be adapted to these changes?
Devidutta Dash: Lots of positive changes in the intimate health & wellness industry. Lots of focus by the government to make period products accessible for all. India is becoming more aware of periods and associated challenges like lifestyle disorders – PCOs, PCOD, etc. The market is witnessing the entry of innovative brands, contributing to a more diverse landscape. Inclusivity is on the rise, with brands like Lemme Be introducing products tailored for teens, with products like the Z Drip Max offering period underwear suitable for larger bodies, exemplified by our XXL pads.
StartupTalky: Can you share examples of how staying ahead of industry trends has influenced Lemme Be’s product offerings or marketing strategies?
Devidutta Dash: We launched India’s first flat menstrual cup called Z Disc. This product is great for a high cervix, doesn’t get lost or stuck inside the body like a menstrual cup, and can be used for a mess-free period sex. Similarly, our entire Z range is specially curated for teens and young bodies. Our Z Cup and Baesic Cup are colorful and uniquely shaped for easy insertion and removal. Our Z Drip Max is an inclusive product and can be used by all menstruators for fuss-free & mess-free periods.
StartupTalky: What key metrics do you track to check Lemme Be’s growth and performance?
Devidutta Dash:
Customer happiness and reviews: As an Indian (made in India) brand, we wish to provide the utmost comfort to our customers. We receive some amazing feedback from our customers who suffer from various challenges like UTIs, rashes, painful cramps, etc., and our products provide them with much-needed comfort.
Maintaining quality and hygiene
Profits
StartupTalky: What were the most significant challenges Lemme Be has faced in the past year, and how did you overcome them?
Devidutta Dash: Habit shift is tough and expensive when it comes to menstrual hygiene. The Indian audience is still largely stuck on legacy brands. Introducing a sustainable product like a menstrual cup or a tampon has been a challenge; the adoption is still slow, and a significant amount of education is required to support new users in exploring these products.
StartupTalky: Repeat purchase is one of the most important parameters on which most eCommerce brands are betting. How do you keep your customers engaged to stop churn? Can you share specific customer retention initiatives or loyalty programs that have proven successful for Lemme Be?
Devidutta Dash: In today’s saturated market, young consumers exhibit lower brand loyalty. Nonetheless, Lemme Be proudly maintains a strong repeat audience across multiple platforms. The key factor driving customer retention is the unwavering commitment to quality and the promises upheld by Lemme Be and its products.
By prioritizing the development of high-quality, accessible, and inclusive menstrual care products, we have aligned our brand ethos seamlessly with our product communication. This strategic focus has resulted in a tangible impact reflected in the loyalty of our customer base. The concerted effort to deliver on our commitments has not only set us apart but has also solidified Lemme Be as a trusted and preferred choice among discerning consumers.
StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack that you pulled off.
Devidutta Dash: As a young brand, we decided to be present and accessible to all consumers through various sales channels. We listed ourselves on Amazon, Flipkart, Myntra, Nykaa, Netmeds, 1mg, Kindlife, and all possible channels where shoppers looked for period-care & wellness products. This improved our visibility and reach to our audience. We created a brand video (our first TVC) that showcased our honest approach to periods. Additionally, our strategic partnerships and influencer collaborations played a pivotal role in expanding our outreach and resonating with our intended audience.
StartupTalky: What important tools and software do you use to run Lemme Be smoothly?
Devidutta Dash: Our workflow is seamlessly streamlined through a combination of tools and technologies. Canva serves as our creative hub, aiding in the design and visual aspects of our content. We leverage AI tools, including ChatGPT, to enhance and optimize our written content, ensuring a dynamic and engaging communication style. The backbone of our online presence is powered by Shopify, which efficiently runs and manages our website. Collectively, these tools contribute to the efficiency and innovation that drive our operations.
StartupTalky: What opportunities do you see for future growth in the period care and wellness industry in India and the world? What kind of difference in market behavior have you seen within states in India?
Devidutta Dash: There are 35 crore menstruators in India, and out of them, only 40% are using period care products. The statistics suggest that 7 out of 10 girls are scared to go to school during their periods as they are scared of accidental stains. Lifestyle disorders like PCOs, PCOD, and infertility are on the rise, and most of the products currently used by the general population are not sustainable. They are laced with plastic and chemicals. It’s only sensible for a country like ours to adopt sustainable and affordable period-care solutions to cater to our huge population. Breaking taboos and imparting education for better menstrual health & hygiene is a work in progress in India, and the bright future is bright. Globally, there has been an increase in the number of menstrual cup users, and the trend is here to stay!
StartupTalky: What lessons did your team learn in the past year, and how will these inform your future plans and strategies?
Devidutta Dash: We recognize that achieving a product-market fit hinges on fostering trust, love, and belief in our brand before consumer adoption. In this endeavor, the utmost significance is placed on the strategic alignment of content, language, and design ideologies. These elements collectively serve as the bridge between our brand and the consumer, facilitating a connection that goes beyond mere transactions. Our goal is to create an environment where customers not only feel comfortable but also resonate with the core DNA of our brand and the positive impact it strives to make.
StartupTalky: How do you plan to expand the customers, SKUS, and team base in the future?
Devidutta Dash: We are entering the sexual wellness product category. Recognizing a growing need for authentic and safe sexual wellness products among young millennials and Gen Z, we’re launching a new category for sexual health and wellness. This initiative aims to empower those seeking better, safer alternatives while promoting informed and respectful attitudes toward sexual health and sexual practices. The global sexual wellness market is rapidly growing to become a $10 billion industry, and we want to make Lemme Be a part of that growth story.
StartupTalky: With so much hype around D2C brands spending on ads, what will be your growth strategy, organic or inorganic? How do you plan to work around SEO and content marketing?
Devidutta Dash: Currently, we are focused on inorganic growth. We are focused on educating and empowering the young menstruators and retargeting our existing customers. We reached out and connected with 80 million menstruators online through performance marketing last FY. We generated 2 million units of content with the help of thousands of influencers, in-house interns, and content writers.
StartupTalky: One tip that you would like to share with another D2C founder based on your own experience.
Devidutta Dash: Offering valuable insight from our own journey as a D2C founder: prioritize achieving product-market fit with a deliberate and measured approach rather than fixating solely on rapid growth. In our experience, focusing on the efficient alignment of our offerings with market needs has proven to be a crucial step. This strategy not only lays the groundwork for sustainable success but also establishes an authentic connection with our target audience, contributing to enduring prosperity.
StartupTalky extends its gratitude to Ms. Devidutta Dash for dedicating her valuable time and generously sharing her insights with all of us.
StartupTalky presents Recap’23, a series of in-depth interviews where we engage with founders and industry leaders to explore their growth in 2023 and their predictions for the future.
The health and wellness industry prioritizes holistic well-being, encompassing physical, mental, and emotional health. From fitness and nutrition to mental wellness, it offers diverse solutions for a balanced lifestyle. Gyms, virtual platforms, and wellness retreats cater to individual health needs. With a growing emphasis on preventive healthcare and mindfulness, this industry plays a crucial role in fostering a healthier society.
In 2022, the worldwide health and wellness market reached a value of USD 5,243.3 billion. Projections indicate substantial growth, with expectations to surpass USD 8,945.3 billion by 2032, reflecting a robust compound annual growth rate (CAGR) of 5.5% from 2023 to 2032, according to Precedence Research. This expansion is driven by a heightened focus on preventive healthcare and an increasing awareness of holistic well-being.
In a recent Recap’23 interview, we at StartupTalky had the privilege of connecting with Mugdha Pradhan, Founder, and CEO of iThrive, to see how the brand operates in the health and wellness world. We looked at their plans and learned about iThrive’s special way of promoting well-being.
StartupTalky: What inspired the establishment of iThrive, and how has its vision evolved over time?
Mugdha Pradhan: After I healed and radically transformed my own health, other people began to consult me for their health problems. I realised I wanted to scale this further and wanted to create a system that could easily help people heal themselves without going through the struggle that I did. Luckily, One of my former clients at the time decided to fund this vision of mine, and that is how iThrive was born.
Over time, our capacity has increased, and now our vision is to eventually, through our various services and practices, make the whole world free of disease and suffering.
StartupTalky: Could you share insights into the range of health concerns iThrive addresses and any notable successes in managing chronic ailments within your clientele?
Mugdha Pradhan: Since our inception in 2019, we have helped over 3000 clients reverse over 174 different health conditions. We started out with mostly cases of weight loss and diabetes and eventually expanded to more and more areas as our knowledge and expertise grew. Our clientele ranges from as young as 2-year-olds right up to 75-year-olds.
We’ve healed many cases of IBS, IBD, hypertension, metabolic disorders, thyroid and hormonal issues, skin issues like psoriasis, etc.
StartupTalky: In the pursuit of creating healthier communities, what strategies does iThrive employ?
Mugdha Pradhan: We do everything in our power to realise our vision of creating healthier, happier, lifestyle-disease-free communities around the world every single day. We know we don’t have the resources to heal every single person on the planet ourselves. That is why we started the academy to train and certify functional nutritionists. Critics remark that it is detrimental to our business because we are creating our own competition- but it actually serves our vision.
We also do all that we can to make free educational content and media available to create awareness and get the right knowledge about health to the masses. Once you enroll in our program, you get life-long support by getting added to our “Thrive Tribe” community, where you receive regular updates and can get your queries answered.
StartupTalky: How does iThrive stay informed about the latest advancements and best practices in the health and wellness industry?
Mugdha Pradhan: The research department within iThrive Academy and Research Centre updates our treatment protocols and course curriculum on a regular basis. The team keeps itself informed through various resources like published papers, podcasts, and articles put out by leading functional medicine practitioners globally. We have a designated chief knowledge officer who keeps researching and contributing to our knowledge base and treatment protocols.
StartupTalky: What unique approaches or methodologies does iThrive use to promote overall well-being and address individual health needs?
Mugdha Pradhan: We have an extensive blood panel that is done as part of our “root cause analysis” procedure, covering a broad range of biomarkers and using specialised interpretation protocols that provide a thorough baseline understanding of the individual’s health. Apart from this, we may use further advanced diagnostics based on the individual’s case.
We use all the data and the client’s personal preferences to formulate a highly bio-individual treatment plan. Although our practice is based on functional medicine, we incorporate the best parts of multiple other modalities and therapies like circadian rhythm optimization, Ayurveda, sound healing, etc.
StartupTalky: Could you provide examples of success stories or testimonials from individuals who have experienced positive transformations through iThrive’s programs or services?
Mugdha Pradhan: As mentioned above, we’ve helped over 3000 individuals reverse their health conditions. You can find testimonials on our social media pages as well as on our website.
StartupTalky: What are the important tools and software you use to run iThrive smoothly?
Mugdha Pradhan: We use Google Workspace for most of our documentation and communication. Our projects and marketing teams make use of a wide variety of new and upcoming tools, and they’re always changing. These include well-known tools like Zoho for CRM, Tally and Jotforms for form automation, Pabbly for automation, Figma and Webflow for web development, and many more.
StartupTalky: How does iThrive personalize health programs to cater to the diverse needs and concerns of individuals?
Mugdha Pradhan: As mentioned above, our root cause analysis blood testing, along with further advanced tests, helps amass a large amount of data on each client. This, along with the personal preferences of the client, such as diet and lifestyle preferences, is used to craft a tailored program carefully for them.
StartupTalky: In what ways does iThrive plan to expand its impact and reach more communities globally in the future?
Mugdha Pradhan: We’ve rolled out targeted marketing campaigns for overseas audiences in some major countries like the USA, the Middle East, Australia, and Canada. We’ve tied up with labs in some of these countries so that clients can get their tests done easily. We have a major partnership with Rupa Health in the USA, the biggest platform for premium diagnostics in the country. We’re in the process of getting US FDA approval for our supplements as well. We’re working to become more active in biohacking and alternative healthcare communities throughout the world.
StartupTalky: What key lessons has your team learned in your journey, and how do these lessons inform your future strategies and initiatives?
Mugdha Pradhan: We have learned that, as a premium healthcare brand, we can’t compromise on quality in any way when it comes to our products and services. Our supplements use the highest quality ingredients available and are devoid of cheap fillers and harmful additives found in most other brands. We’ve constantly refined our services to make them better, and it’s an ongoing process that will probably always be on. We’ve learned to be open-minded when it comes to our approach and beliefs around healthcare because we’ve been wrong about certain things we were doing, and we’ve rectified them.
We’ve also learned to make better hiring decisions as we’ve realized shoddy and mediocre work at any step can hamper the quality of the final product.
StartupTalky: What growth and innovation opportunities does iThrive see in the health and wellness sector in the coming years?
Mugdha Pradhan: The wellness sector is one of the most booming industries in the world, estimated to be currently worth 4.2 Billion USD globally. With the constant increase in industrialization, our modern urban environment continues to become more and more unfavorable for health. The burden of chronic diseases continues to mount globally. Conventional medicine is corrupted and very inept at countering chronic disease, only offering pharma drugs to suppress symptoms. People are starting to become aware of this, and interest in wellness and preventive healthcare is rising. People are looking for good, evidence-based alternative healthcare options.
StartupTalky: One tip that you would like to share with individuals seeking to improve their health and well-being, drawing from iThrive’s expertise and experience?
Mugdha Pradhan: Always get your bloodwork done regularly. Get the data evaluated by a reputable functional medicine practitioner from time to time. Or just learn to do it yourself. And don’t ignore small symptoms like headaches, fatigue, and digestive issues until they become worse and need serious treatment. Don’t wait for your health to break down fully before you start making changes. Take care of it.
StartupTalky extends its gratitude to Ms. Mugdha Pradhan for dedicating her valuable time and generously sharing her insights with all of us.
StartupTalky presents Recap’23, a series of in-depth interviews where we engage with founders and industry leaders to explore their growth in 2023 and their predictions for the future.
Insurance is like a safety net for life’s uncertainties. It helps protect people and businesses by offering financial support during unexpected events. The insurance industry is all about managing risks and providing peace of mind, from health to property coverage. By spreading the financial risk, insurance ensures that individuals and businesses can navigate challenges with greater confidence and security.
In 2022, the Motorcycle Insurance market was valued at USD 64.2 Billion. Projections indicate substantial growth, with the industry expected to reach USD 95.40 Billion by 2032, showcasing a 4.50% compound annual growth rate (CAGR) during the forecast period (2023 – 2032). Additionally, this growth is fueled by increasing demand for comprehensive coverage and innovative insurance solutions in the motorcycle insurance sector.
In a recent Recap’23 interview, we at StartupTalky had the privilege of connecting with Sonendra Verma, Founder, and CEO of AegisCovenant, to understand how the brand navigates the insurance industry. We explored their strategies and gained insights into AegisCovenant’s unique operation in this sector.
StartupTalky: What service does AegisCovenant provide? What was the motivation/vision with which you started?
Sonendra Verma: We are a B2B2C company facilitating transactions between customers and dealerships for two-wheelers across India. While currently focused on two-wheelers, we are expanding to include private cars, commercial vehicles, and miscellaneous vehicles. Our services also encompass Roadside Assistance benefits alongside insurance. Additionally, we are soon launching a BPO to enhance customer retention efforts.
StartupTalky: What new services have been added in the past year? What is/are the USP/s of AegisCovenant?
In the past year, we’ve started building a dedicated BPO team, adding to our commitment to comprehensive service. Our brand stands out in the RSA and insurance industry by focusing on customer needs, innovative solutions, industry expertise, financial stability, and integrity. We offer bespoke solutions using advanced technology, guaranteeing swift support and transparent handling. Choose us for unmatched customer experiences, tailored solutions, innovation, and trust.”
StartupTalky: How has the insurance industry changed in recent years, and how has AegisCovenant adapted to these changes?
Sonendra Verma: In recent years, the insurance management industry in India has shifted towards digitalization and personalized services. To adapt, we embraced technology, offering user-friendly online platforms and personalized products. Our focus on quick, data-driven solutions and proactive customer support keeps us aligned with evolving customer needs, ensuring we remain competitive in this dynamic industry.
StartupTalky: How do you stay up-to-date on the latest trends and developments in the insurance industry?
Sonendra Verma: Staying at the forefront of industry trends is crucial for our business. I prioritize continuous learning through industry publications, attending conferences, and actively participating in professional networks. Leveraging technology, I subscribe to relevant newsletters and utilize curated content platforms. Integrating these insights into our business strategy involves regular team discussions, training programs, and fostering a culture that values innovation. This approach ensures that we not only stay informed but also proactively apply the latest advancements to enhance our products/services and maintain a competitive edge in the market.
StartupTalky: What key metrics do you track to check AegisCovenant’s growth and performance?
Sonendra Verma: The success of our business is measured through a combination of key performance indicators (KPIs) and the impact we create. Financial metrics, customer satisfaction, and employee engagement are pivotal indicators. Major achievements include consistent revenue growth, expansion into new markets, and industry recognition. Moreover, our commitment to sustainability and community impact stands out as a significant accomplishment. Ultimately, success is not just about numbers; it’s about the positive influence we exert on the world around us.
StartupTalky: What were the most significant challenges AegisCovenant has faced in the past year, and how did you overcome them?
Sonendra Verma: Market fluctuations demanded a nimble approach. We responded by closely monitoring trends, recalibrating our marketing strategies, and introducing flexible pricing models. Embracing innovation, we leveraged technology to enhance customer engagement, leading to sustained business growth.
The commitment of our team was instrumental in overcoming these challenges. Regular communication, upskilling initiatives, and fostering a culture of adaptability were pivotal. As a result, we not only weathered the storm but emerged more agile, connected, and poised for future opportunities.
StartupTalky: Good service is something everyone is talking about in the service industry. How does AegisCovenant ensure the satisfaction of its clients?
Sonendra Verma: To ensure our clients’ happiness, we prioritize a customer-centric approach ingrained in our services. We start by understanding their needs and preferences crafting tailored solutions using cutting-edge technology and data-driven insights. Our commitment to quick and transparent service, coupled with a dedicated support team, ensures prompt assistance and hassle-free experiences. By consistently delivering personalized, proactive support and innovative solutions, we aim to exceed our clients’ expectations and foster long-term satisfaction.
StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack that you pulled off.
Sonendra Verma: Our current marketing strategy predominantly centers on B2B networking, fostering strong client relationships as our primary focus. We emphasize personalized interactions and tailored solutions. Additionally, we employ digital channels and content marketing to showcase our expertise. Targeted email campaigns and participation in industry events help expand our network. Our growth hack involves prioritizing exceptional service, leading to organic referrals. By consistently exceeding expectations, we’ve garnered significant business opportunities and bolstered our brand reputation within the B2B domain.
StartupTalky: What are the important tools and software you use to run AegisCovenant smoothly?
Sonendra Verma: We rely on a diverse array of tools and software to ensure smooth business operations across different domains. For internal communications, our primary platforms are Slack and Google, fostering efficient and collaborative interactions among our teams. Our HR processes are managed seamlessly through the Keka portal, providing streamlined human resource management solutions.
In our IT department, we harness the power of several tools, such as Postman for API development, Make for task automation, and AWS (Amazon Web Services) for cloud infrastructure. Additionally, our tech stack comprises essential frameworks and languages like React, NodeJs, JavaScript, and NoSQL databases, along with MySQL, enabling us to build and maintain robust, scalable applications. We also utilize Coderbyte to enhance coding skills and VS Code as our preferred integrated development environment (IDE). Collectively, these tools contribute to our operational efficiency and enable us to deliver high-quality products and services.
StartupTalky: What opportunities do you see for future growth in the insurance industry in India and the world? What kind of difference in market behavior have you seen between India and the world?
Sonendra Verma: Opportunities for insurance industry growth in India and globally lie in evolving consumer needs and technological advancements. In India, rising middle-class demand and government initiatives drive expansion. Globally, InsurTech innovations and digitalization transform the sector. Market behaviors differ—India favors traditional policies, while developed markets seek specialized offerings like cyber insurance. Navigating these distinctions requires tailored strategies embracing technology and innovation for sustained growth in both Indian and global markets.
StartupTalky: What lessons did your team learn in the past year, and how will these inform your future plans and strategies?
Sonendra Verma: In the past year, our team has gleaned valuable insights that will profoundly shape our future plans and strategies. We’ve learned the importance of agility and adaptability in responding to rapidly changing market dynamics, especially amidst uncertain times. Our focus on enhancing digital capabilities and prioritizing customer-centric approaches has been reinforced. Additionally, we’ve embraced the significance of leveraging data-driven decision-making for more informed strategies.
These lessons serve as guiding principles for our future endeavors. Moving forward, we aim to further strengthen our technological infrastructure to remain agile and responsive. Customer-centricity will continue to underpin our strategies, emphasizing personalized experiences and innovative solutions. Moreover, our commitment to leveraging data for informed decision-making will be pivotal in charting a resilient and growth-oriented path in the ever-evolving landscape of our industry.
StartupTalky: How do you plan to expand the customers, service offerings, and team base in the future?
Sonendra Verma: Within 3 to 5 years, our brand will have undergone significant evolution, positioning itself as a pioneer and trailblazer within the industry. Our range of products and services will expand substantially, finely attuned to meet the ever-evolving needs of our customers. A robust digital presence will characterize our brand, offering user-friendly online platforms and personalized communication channels for enhanced accessibility and convenience.
Our commitment to personalization and customization will undergo further refinement, ensuring that our coverage aligns perfectly with the unique requirements of each individual. Notably, our brand will be renowned for its industry leadership, marked by the cultivation of enduring and meaningful relationships with our customers while actively spearheading positive changes within the industry.
Additionally, our brand will extend its influence beyond business realms to make meaningful contributions to social impact initiatives, solidifying our identity as a responsible corporate citizen. This multifaceted evolution will collectively shape our brand into a trusted leader, placing an unwavering focus on the customer, perpetually innovating, and consistently delivering exceptional value within the insurance landscape.
StartupTalky: One tip that you would like to share with another Service company founder?
Sonendra Verma: Embrace challenges as opportunities and failures as lessons. Persistence and adaptability are your greatest allies on this journey. Surround yourself with a supportive network, seek mentorship, and never underestimate the power of continuous learning. Stay true to your vision, but be flexible in your approach. Success is often a result of resilience, passion, and the willingness to learn from every experience. Remember, every setback is a setup for a comeback. Keep pushing boundaries, and believe in the unique value you bring to the world. Your journey is just as important as your destination. Best of luck!
StartupTalky extends its gratitude to Mr. Sonendra Verma for dedicating his valuable time and generously sharing his insights with all of us.
StartupTalky presents Recap’23, a series of in-depth interviews where we engage with founders and industry leaders to explore their growth in 2023 and their predictions for the future.
DEI consultancy specializes in helping organizations create diverse, equitable, and inclusive workplaces. Consultants assess current practices, offer tailored strategies, and provide training to promote equality and foster an environment where everyone feels valued. Embracing DEI principles aligns with social responsibility and enhances innovation by leveraging diverse perspectives and talents within the workforce.
As minority groups approach majority status by 2045, the pivotal role of DEI Consultancy becomes evident. Companies prioritizing diversity enjoy 2.5 times higher cash flow per employee, and those with diverse management witness a 19 percent revenue boost. DEI Consultancy emerges as a key ally in navigating demographic shifts, unlocking financial advantages, and fostering an inclusive culture for sustained success.
In a recent Recap’23 interview, we at StartupTalky had the privilege of connecting with Shruti Swaroop, Founder of Embrace Consultancy. We delved into their strategies and gained insights into Embrace Consultancy’s distinctive approach to Diversity, Equity, and Inclusion (DEI) in the corporate landscape.
StartupTalky: What service does Embrace Consultancy provide? What was the motivation/vision with which you started?
Shruti Swaroop: My entrepreneurial journey was accidental. It was a series of happy accidents that led to the inception of Embrace Consultancy, specialising in Diversity, Equity, and Inclusion (DEI) consulting. The journey began serendipitously in 2019, evolving from a freelancing endeavour into a legacy-driven consultancy.
With over two decades of Human Resources experience across various geographies, I founded EMBRACE with the intent of enabling organisations to become more inclusive. As an Executive Coach and Diversity Consultant, my primary objective is to help organisations foster inclusive environments that celebrate diversity and ensure equity for all individuals.
Born into a defense family, I took diversity and inclusion for granted until I experienced how my gender became both my privilege and my handicap.
So, the initial motivation transformed into a desire to champion inclusivity, particularly focusing on gender diversity in the workplace. The vision extends beyond business success, aiming to create a lasting impact on individuals and society.
StartupTalky: What new services have been added in the past year? What is/are the USP/s of Embrace Consultancy?
Shruti Swaroop: Embrace Consultancy has expanded its offerings to include comprehensive services like Diversity and Inclusion, Leadership Development, Coaching, Learning Programs, and HR Advisory. The unique selling points lie in the impeccable quality of work, unparalleled responsiveness, and extensive networking. My experience and global interactions with ambassadors contribute to the company’s strength, ensuring it stays at the forefront of DEI best practices. Our diverse range of clients includes corporations, nonprofits, educational institutions, government agencies, and individuals seeking personal growth in the context of DEI. Some of the clients in our portfolio are BAIN & Company, Union Bank of India, ETG, IBM, Google, Cambridge University Press, FICCI, etc. Our core values are Respect, Acceptance, Integrity and Trust.
StartupTalky: How has the DEI industry changed in recent years, and how has Embrace Consultancy adapted to these changes?
Shruti Swaroop: The DEI consultancy landscape has evolved significantly in recent years, with a heightened global focus on inclusive work environments. Embrace Consultancy has always believed that inclusion is about respecting and accepting people for who they are and working towards a common goal. We have been at the forefront of DEI consultancy and adapted by expanding services beyond gender diversity to encompass neurodiversity, abilities, and diverse educational backgrounds.
We emphasise the importance of mindset in inclusion, challenging stereotypes, and advocating for talent beyond top-tier institutes. Our global operations in India, Brazil, Canada, the USA, and China demonstrate our adaptability to diverse market behaviors. We not only respond to industry changes but actively shape them.
StartupTalky: How do you stay up to date on the latest trends and developments in the DEI industry?
Shruti Swaroop:Networking extensively, I engage with global ambassadors, staying informed about best practices worldwide. This approach ensures Embrace remains at the forefront of DEI trends. Regular interactions with leaders, coupled with a commitment to quality, keep us agile and responsive to industry dynamics.
StratupTalky: What key metrics do you track to check Embrace Consultancy’s growth and performance?
Shruti Swaroop: Embrace tracks growth through diverse metrics, including revenue, client satisfaction, and the number of successful coaching interventions. The impressive journey from 2019’s 15 lakh top line to this year’s two crore underscores the exponential growth, largely fuelled by word of mouth and repeat clients.
StartupTalky: What were the most significant challenges Embrace Consultancy has faced in the past year, and how did you overcome them?
Shruti Swaroop: Navigating the challenges of a small team has been a humbling journey for me. Facing the setback of losing my entire team to KPMG felt like the end of the world, but we rebuilt, reaching a point where I could be on vacation while things ran smoothly in auto mode. Attracting talent to a compact firm proved challenging, prompting me to offer mentorship and growth opportunities. Direct engagement with leaders has become integral to our recruitment strategy.
Financial hurdles emerged, with delayed dues and skepticism from potential clients due to our status as newcomers. To counter this, our focus shifted towards establishing credibility through unwavering commitment to quality. The continuous effort has been directed towards ensuring and reinforcing quality and credibility.
Additionally, the five years away from the country posed another hurdle, requiring me to establish a network from scratch. A mentor played a pivotal role, guiding me to connect with people, hone my selling skills, and overcome the challenges of being perceived as a newcomer.
StartupTalky: Good service is something everyone is talking about in the service industry. How do you ensure that Embrace Cosultancy’s clients are happy?
Shruti Swaroop: Client satisfaction is Embrace’s top priority. The company excels in two crucial aspects: unwavering commitment to quality work and unmatched responsiveness. My personal dedication, always being available for clients, and quick turnaround times contribute to a positive client experience. This approach, coupled with a focus on diversity, equity, and inclusion, ensures not only client success but also societal impact.
StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack that you pulled off.
Shruti Swaroop: Our marketing strategy revolves around word of mouth. Our clients are our biggest supporters, and we are lucky that we get to leverage our positive track record and client satisfaction. There is no growth hack. We ensure that we are committed to our work. Our extensive network, built over the years, not only contributes to the growth but also positions us as a leader in DEI consultancy.
StartupTalky: Foreign clients – this is what most service-based companies are looking for. What has been your experience?
Shruti Swaroop: Our success extends globally, with a network of over 1300 international coaches and facilitators. Operating in Brazil, Canada, the USA, China, and India, our global footprint is a testament to our effectiveness. The demand for DEI services is universal, and our adaptability and relevance on the international stage have helped us grow our network.
StartupTalky: What are the important tools and software you use to run your business smoothly?
Shruti Swaroop: We operate seamlessly with a lean team of six, utilising networking and mentorship for internal diversity work. Internationally, the company employs a robust network of over 6000 facilitators and coaches. This strategy, coupled with a focus on quality and responsiveness, forms the backbone of our smooth business operations.
StartupTalky: What opportunities do you see for future growth in the DEI industry in India and the world? What kind of difference in market behaviour have you seen between India and the world?
Shruti Swaroop: We envision continued growth in India and globally, capitalising on the increasing emphasis on diversity, equity, and inclusion. The difference in market behaviour lies in India’s specific focus on gender diversity, challenging stereotypes, and fostering inclusivity. Embrace’s unique approach aligns with both India’s nuances and global DEI trends.
StartupTalky: What lessons did your team learn in the past year, and how will these inform your future plans and strategies?
Shruti Swaroop: The past year taught us the value of resilience and adaptability. Overcoming team challenges, financial hurdles, and global disruptions reinforced the importance of quality, credibility, and an unwavering commitment to client satisfaction. These lessons will shape our future plans, ensuring sustained growth and societal impact.
StartupTalky: How do you plan to expand the customers, service offerings, and team base in the future?
Shruti Swaroop: We envision organic growth through our proven approach to quality, responsiveness, and inclusivity. We plan to expand our client base through continued client satisfaction and word of mouth. Service offerings will evolve organically to address emerging DEI needs, and team growth will focus on attracting diverse talent through mentoring and growth initiatives.
StartupTalky: One tip that you would like to share with another Service company founder?
Shruti Swaroop: Focus on building a brand known for unwavering quality and responsiveness. In the service industry, client satisfaction is paramount, and a strong network contributes significantly to growth. Embrace the power of diversity, not just in service offerings but also in building and nurturing your team. The journey may be challenging, but resilience, adaptability, and a genuine commitment to making a positive impact will pave the way for long-term success.
StartupTalky extends its gratitude to Ms. Shruti Swaroop for dedicating her valuable time and generously sharing her insights with all of us.
StartupTalky presents Recap’23, a series of in-depth interviews where we engage with founders and industry leaders to explore their growth in 2023 and their predictions for the future.
Nowadays, the fashion market in India is undergoing significant changes. By 2023, the fashion market is expected to be worth .16 billion, growing at a rate of 12.25% each year. This figure could skyrocket to a whopping $25.24 billion by 2028. These shifts in the fashion world are just as thrilling as other changes happening around us.
One major trend gaining traction is “sustainable fashion,” focusing on clothes that are good for the Earth. Traditional Indian outfits like sarees are becoming part of this movement, seamlessly blending old traditions with new styles. This fusion makes them exceptionally trendy for the future.
In a recent Recap’23 interview, we at StartupTalky had the privilege of connecting with Prachi Seksaria, Co-founder of Moora, to understand how the brand navigates the fashion industry. We discussed their strategies and got insights into Moora’s unique way of doing things.
StartupTalky: Prachi, what products does Moora sell, and what was the motivation or vision behind starting your brand?
Prachi Seksaria: At Moora, we specialise in handcrafted sarees created by skilled artisans from various regions. Our mission is to reinvent the saree for the modern woman, focusing on comfort and accessibility. Often perceived as complex and uncomfortable, we aim to transform this notion. We believe the saree is an incredibly versatile and lively piece of attire. This sentiment is echoed by the majority of our customers, affirming our vision.
StartupTalky: Can you highlight specific business strategies that facilitated Moora’s global expansion and accessibility, contributing to positive social impact?
Prachi Seksaria: As someone who appreciates handmade and handcrafted items, I’ve often encountered the barrier of high prices, sometimes up to ten times more than expected. When founding Moora, it was my firm intention to make handcrafted items affordable and accessible to a broader audience, while ensuring fair compensation for our artisans. We’ve strategically priced our sarees to be within the reach of most urban women. This approach has significantly contributed to our growth, aligning with our vision of bringing handcrafted elegance to more people without compromising on artisanal value.
StartupTalky: What are the key business factors that contributed to Moora’s revenue milestone and celebrity endorsements, impacting brand recognition and market positioning?
Prachi Seksaria: Moora’s growth and brand recognition can be attributed to several key factors:
Accessibility: We’ve designed our brand to be approachable and inviting, both on our website and our Instagramc page.
Relatability: We’ve chosen relatable, everyday individuals as our brand ambassadors, making our brand resonate more with our audience.
Product Quality: We’ve invested considerable effort in ensuring the highest quality of our products, from the fabric to the printing process, and our designs. This dedication to quality is reflected in the numerous positive reviews we receive.
Brand Personality: We’ve cultivated a brand that feels familiar and personal as if it’s crafted by someone our customers know and trust.
Conscious Approach: Right from the start, we’ve been deeply conscious about our choices and practices, ensuring they align with our brand ethos.
StartupTalky: What are the specific tools and software you use to run Moora’s business smoothly?
Prachi Seksaria: We use Shopify for our website, Google Business Suite for most of our operational needs, and Canva for graphics.
What opportunities do you see for future growth in the fashion industry in India and globally? Have you noticed differences in market behavior within states in India?
Prachi Seksaria: We’re in the era of sustainability and eco-consciousness. Consumers are increasingly looking for eco-friendly and ethically-made fashion. They want to know where the product is coming from. At Moora, we’ve embraced this by using eco-conscious materials, ethical manufacturing, and fair trade practices.
Talking about global expansion, the digital era has opened up new avenues for small businesses. E-commerce and social media have given us the ability to reach a wider audience beyond borders, presenting exciting prospects for global market penetration.
In terms of market behavior within states in India, yes, there are notable differences. Each state has its unique fashion preferences, influenced by culture, traditions, and weather. For example, sarees that sell well in southern states may not sell that well in North India. As we grow, our aim is to offer regional diversity to cater to these varying tastes.
StartupTalky: How has Moora adapted to changes in the fashion industry in recent years? Can you share examples of staying ahead of industry trends influencing product offerings or marketing strategies?
Prachi Seksaria: We’ve been quick to incorporate sustainable practices into our production. Recognizing the shift towards eco-friendly fashion, we only work with eco-conscious fabrics, such as cotton and silk and our packaging is completely plastic-free. We’re also committed to ethical sourcing and fair labor practices, aligning with the increasing consumer demand for responsible fashion.
Additionally, we’ve collaborated with influencers and fashion bloggers to showcase the versatility of sarees in contemporary styles. This has not only boosted our marketing efforts but also helped us connect with younger audiences who may not have considered sarees as their go-to attire.
Lastly, we’ve introduced modern, lightweight saree designs that are easy to drape and comfortable to wear, making them suitable for various occasions.
StartupTalky: What key metrics do you track to check Moora’s growth and performance?
Prachi Seksaria: Our key focus is on customer satisfaction and customer lifetime value.
StartupTalky: Can you share insights into the most significant challenges Moora faced in the past year and how the team overcame them?
Prachi Seksaria: Finding the right artisanal talent who believes in the same quality standards as we do has been a real challenge. It took some trial and error but eventually, we’ve grown a team of artisans who align with our vision.
StartupTalky: Repeat purchases are crucial for eCommerce brands. How does Moora engage customers to prevent churn, and are there specific retention initiatives or successful loyalty programs?
Prachi Seksaria: At Moora, we take customer feedback very seriously. As a founder, I speak to customers regularly to understand what they are liking about the product and what is not working for them. I strongly believe that if you provide a good experience and a good product the first time, a customer will not only make repeat purchases but will also become your brand ambassador. A significant percentage of our sales comes through references, and word of mouth. No amount of marketing can bring a customer back if the product isn’t good. Having said that, retention ads have worked well for us too.
StartupTalky: What are the different strategies Moora uses for marketing, and can you share any growth hacks that have proven successful for the brand?
Prachi Seksaria: We’ve actively used Instagram for our marketing. The right kind of influencer collaborations can really bring a boost to the brand. For example, our collaboration with Masoom Minawala provided a huge boost to our position in the global market in a very short time.
StartupTalky: How is your personal business philosophy integrated into Moora’s mission of empowering artisans and creating positive social impact?
Prachi Seksaria: I’m an art graduate and I believe that any art made by hand is infinitely beautiful. I have a huge respect for artisans who dedicate their entire lives to preserving and mastering their craft. Playing a part in their growth and empowerment is a big part of our mission at Moora.
StartupTalky: Share key business lessons learned during your entrepreneurial journey. What business advice would you offer to founders entering the fashion industry, focusing on sustainability and accessibility?
Prachi Seksaria: It is important to try a product yourself or test it with a small group before launching it in the market. Participating in flea markets can be a great way to test a product/idea and understand consumer perception.
Know your target audience before entering the market. Founders often say that their product is for everyone. But that can’t be true. It is crucial to have a clear understanding of your target market and then adapt the product and offering for that audience.
StartupTalky extends its gratitude to Ms. Prachi Seksaria for dedicating her valuable time and generously sharing her insights with all of us.
StartupTalky presents Recap’23, a series of in-depth interviews where we engage with founders and industry leaders to explore their growth in 2023 and their predictions for the future.
The legal industry is fundamental to upholding and interpreting the law, with professionals navigating complex regulations and advocating for justice. Adapting to challenges like cybersecurity and international dynamics it remains essential for maintaining legal structures and ensuring a fair society.
The legal process outsourcing (LPO) market is projected to attain a value of $38.13 billion by 2027, with an estimated Compound Annual Growth Rate (CAGR) of 26.7%. In 2021, the aggregate disclosed value of pending and closed transactions reached $3.6 trillion, surpassing the 2020 full-year total of $3.59 trillion. The global market for legal services is anticipated to experience a 5.4% CAGR, reaching $1034.53 billion by 2027.
In our recent interview for Recap’23, we connected with Shreya Sharma, Founder, and CEO of Rest The Case. We delved into Rest The Case’s footprint in the legal sector, uncovering its challenges, customer expansion strategies, future aspirations, and beyond.
StartupTalky: What service does Rest The Case provide? What was the motivation/vision with which you started?
Shreya Sharma: With ‘Rest The Case,’ all legal issues are taken care of with just a click of a button. We offer verified lawyers that a client can filter based on location, simplified legal information in their knowledge bank, experience, gender if required, and specialization so that one can find an apt lawyer, ready-to-use document templates that a client can fill up and use immediately, all this in one place. Apart from this, we also offer legal news and bare acts so that people can be informed when they require help.
Our CEO, Shreya Sharma, says, “ I got the idea for Rest The Case when I was studying Law in the UK and noticed how law and legal services are very readily available on the internet there. It was easy to find a lawyer and easy to get connected. However, the same thing in India was very difficult. One has to run pillar to post to find a good lawyer who can help them with their legal issues. So, I thought of working out a way in which people all around the country can find a lawyer based on their personalized requirements. Then, when the lockdown happened and I came back home to India, I saw it getting tougher than ever because people required information and help, but there was nowhere to go; that’s when I started working on creating Rest The Case as a One Stop Solution for Legal Information and Services. So that even if a person requires basic information or they required a lawyer for their case, they could find it in one place.”
StartupTalky: What new services have been added in the past year? What is/are the USP/s of Rest The Case?
Shreya Sharma: Over the past year, we’ve expanded our services in several ways. We have enhanced the system of providing high-quality leads to our lawyers. Additionally, we’ve enhanced our knowledge bank with more in-depth articles on complex legal issues and introduced interactive tools to assist users in understanding legal processes better. Our document templates have also seen significant updates to cover a broader spectrum of legal needs.
Our USP lies in our comprehensive and user-friendly platform. We offer a seamless connection between clients and lawyers, simplifying legal processes. Providing free legal document templates and simplified legal information remains at the core of our service, ensuring accessibility to legal knowledge for all.
StartupTalky: How has the legal industry changed in recent years, and how has Rest The Case adapted to these changes?
Shreya Sharma: The legal industry has seen a shift towards digitalization and increased demand for accessible legal services. To adapt to this, we’ve invested heavily in our platform’s user interface, improved backend systems for lawyer-client matching, and expanded our team of legal experts to ensure the accuracy and depth of our content.
StartupTalky: What key metrics do you track to check Rest The Case’s growth and performance?
Shreya Sharma: Key metrics we track include user engagement, the number of successful lawyer-client connections, user feedback, content performance, and platform traffic. These metrics help gauge our growth, user satisfaction, and the effectiveness of our services. We constantly analyze metrics from digital media platforms to check the quality of leads and the company’s overall growth.
StartupTalky: Good service is something everyone is talking about in the service industry. How do you ensure that your clients are happy?
Shreya Sharma: Client satisfaction is our priority. We ensure this by providing reliable legal information, facilitating seamless lawyer-client connections, seeking feedback regularly, and swiftly addressing any concerns or issues raised by our users.
StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack that you pulled off.
Shreya Sharma: Our marketing strategies focus on content creation, SEO optimization, social media engagement, and partnerships with other platforms.
StartupTalky: What are the important tools and software you use to run your business smoothly?
Shreya Sharma: We rely on various tools and software for smooth operations, including CRM systems, analytics tools, content management systems, and communication platforms, ensuring efficiency in managing client and lawyer interactions.
StartupTalky: What opportunities do you see for future growth in your industry in India and the world? What kind of difference in market behavior have you seen between India and the world?
Shreya Sharma: The future holds immense opportunities, especially in leveraging AI for legal research and expanding globally. India’s market exhibits a hunger for accessible legal services, while globally, there’s a rising demand for cross-border legal assistance.
StartupTalky: What lessons did your team learn in the past year, and how will these inform your future plans and strategies?
Shreya Sharma: Lessons learned include the importance of scalability, adaptability, and continuous innovation. These will guide our future plans in expanding our customer base, diversifying service offerings, and fostering a dynamic team culture.
StartupTalky: How do you plan to expand the customers, service offerings, and team base in the future?
Shreya Sharma: Expanding our customer base involves targeted marketing, improving our services based on user feedback, and enhancing our platform’s accessibility. We plan to diversify our service offerings by introducing more specialized legal services and expanding our team to accommodate growing demands. We are also planning on expanding our content game by making law easy for people through our podcasts, events, and more.
StartupTalky extends its gratitude to Ms. Shreya Sharma for dedicating her valuable time and generously sharing her insights with all of us.
StartupTalky presents Recap’23, a series of in-depth interviews where we engage with founders and industry leaders to explore their growth in 2023 and their predictions for the future.
The STEM industry, comprising Science, Technology, Engineering, and Mathematics, fuels innovation and progress in our ever-evolving world. With a growing demand for skilled professionals, STEM fosters critical thinking and creativity, shaping the forefront of technological advancements. It stands as a key pillar, addressing global challenges and propelling us toward a brighter, more interconnected future.
STEM job growth is rising, with an 8% increase expected between 2017 and 2029. Since 1990, STEM employment has seen a remarkable 79% surge, and the momentum continues with a projected 10.8% growth from 2021 to 2031. This emphasizes the persistent demand for skilled STEM professionals, shaping the future workforce landscape.
In our recent interview for Recap’23, we connected with Deepti Sharma, Director of ThinkerPlace. We explored ThinkerPlace’s influence in the STEM industry, diving into its challenges, approaches to customer expansion, future aspirations, and beyond.
StartupTalky: What does ThinkerPlace do? What was the motivation/vision with which you started?
Deepti Sharma: Our company aims to nurture intelligent minds who can extend their learning abilities and knowledge scope beyond the PURVIEW of their textbooks. Our vision is to equip students with tools to learn from real-world experiences, delving into new-age skills through our S.T.E.M-based Educational DIY Toys. These toys teach coding, automation, robotics, and more, empowering kids to learn beyond books.
StartupTalky: What is/are the USP/s of ThinkerPlace?
Deepti Sharma: Our DIY Kits offer access to a Learning Management System, enabling kids to explore innovative skills like robotics, coding, automation, and IoT. These kits are much more than toys, allowing children to create gadgets, learn from interactive videos and 3D animations, and receive guidance from STEM experts.
StartupTalky: How has the STEM industry you are in changed in recent years, and how has ThinkerPlace adapted to these changes?
Deepti Sharma: STEM education is becoming increasingly important in India as the country seeks to become a leader in technology and innovation. We believe that there is a growing awareness of the need for STEM education, and we expect to see more schools and parents prioritizing this type of learning in the coming years. ThinkerPlace can play an important role in shaping the future of STEM-based education in India by creating high-quality products that are accessible to all children. We are committed to working closely with schools and educators to ensure that our products align with their curriculum and learning objectives, and we are constantly looking for ways to improve and innovate our products to meet the changing needs of students and educators. We believe that by providing children with engaging and effective STEM learning experiences, we can help prepare them for success in the digital age and contribute to the growth and development of India’s innovation ecosystem.
StartupTalky: How do you stay up-to-date on the latest trends and developments in the STEM industry? Can you share examples of how staying informed about industry trends has influenced your product roadmap and business strategy?
Deepti Sharma: Our research team tracks new toy launches, conducts rigorous tests, and analyzes market trends to understand what resonates with children. This helps us understand our competition and plan our product roadmap and business strategy.
StartupTalky: What key metrics do you track to check the company’s growth and performance?
Deepti Sharma: We track metrics like website traffic, conversion rates, social media engagement, repeat customers, and sales performance.
StartupTalky: What were the most significant challenges your company faced in the past year, and how did you overcome them?
Deepti Sharma: Adaptation to the changing educational landscape has been a major challenge. We’ve navigated this by innovating our products to align with the evolving needs of schools and educators.
StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack that you pulled off.
Deepti Sharma: Our marketing activities span across digital channels, workshops with schools to boost STEM awareness, and participation in events and school activities for direct audience interaction.
StartupTalky: What are the important tools and software you use to run your business smoothly?
Deepti Sharma: We use tools like CRM software, accounting software, and Adobe Suite.
StartupTalky: What opportunities do you see for future growth in your industry in India and the world? What kind of difference in market behavior have you seen within states in India?
Deepti Sharma: The future of STEM is bright. It is an in-demand stream in our country, and even the government is pushing STEM Learning for children with its new guidelines in the NEP 2020 (National Education Policy 2020). The new guidelines say schools and educational institutes must have a learning system that is more goal-oriented and practical. This will nurture the children toward concept-building and practical thinking. ThinkerPlace has been successful in implementing the same in several schools across the country.
StartupTalky extends its gratitude to Mrs. Deepti Sharma for dedicating her valuable time and generously sharing her insights with all of us.
Shubham Kumar
