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From blogger to global icon: Masoom Minawala’s rise in fashion

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Masoom Minawala, a fashion influencer and entrepreneur

Imagine searching for inspiration amidst the endless stream of fashion and lifestyle content. Suddenly, you come across a profile that captivates you with its vibrant imagery and compelling narratives. This is the digital realm of Masoom Minawala, a name synonymous with innovation and influence in the fashion world. 

Masoom’s journey began over a decade ago when she launched her blog, Miss Style Fiesta, when blogging was still taking root in India. Masoom has transformed into a global icon from these humble beginnings, with over 1.4 million followers across various platforms. Her story is not just about fashion; it’s about relentless pursuit, breaking barriers, and setting new standards in an ever-evolving industry. Whether she’s gracing the red carpet at Cannes or collaborating with luxury brands like Louis Vuitton and Dior, Masoom’s influence is undeniable. Her rise to prominence reflects her ability to stay ahead of trends and her unwavering commitment to authenticity and creativity in the digital age.

The Early Days: Pioneering India’s Blogging Industry

Masoom Minawala’s foray into the fashion world began in 2010 when she launched her blog, Miss Style Fiesta. At a time when blogging was still in its infancy in India, Masoom saw an opportunity to carve out a niche for herself. Her blog quickly gained traction, resonating with fashion enthusiasts and setting the stage for a highly successful career.

As the digital landscape evolved, so did Masoom. She leveraged her blog’s success to expand her presence across various social media platforms, amassing a following of over 1.4 million. This growth was a testament to her fashion sense and her ability to connect with her audience on a personal level.

Making Waves on the Global Stage

Masoom’s influence is not confined to the Indian subcontinent. She has made significant strides globally, becoming one of the first Indian creators to walk the red carpet at the Cannes Film Festival four times in a row for L’Oreal Paris. Her presence at such a prestigious event underscored her position as a leading figure in the fashion industry.

In 2022, Masoom was honoured with the title of ‘Most Authentic Fashion Influencer’ at the World Influencers and Blogger Awards (WIBA Global) during the Cannes Film Festival. This accolade recognized her genuine approach and impactful presence in the fashion world.

Her international acclaim continued as she attended Paris Fashion Week multiple times, representing luxury brands like Hermes, Louis Vuitton, Christian Louboutin, and Dior. Her participation in these high-profile events highlighted her influence and her role as a bridge between Indian fashion and the global market. Also, Soon-to-be mom Masoom Minawala graced the red carpet at the 77th Cannes Film Festival for the fifth time. Representing Indian fashion on a global stage, Breaking Barriers and Setting Records

Masoom’s journey is marked by a series of firsts. In 2022, she became the first Indian content creator to walk the runway as the showstopper for designer Vaishali S. at Milan Fashion Week. This milestone was a significant achievement, showcasing her ability to break barriers and set new standards in the fashion industry.

Additionally, she opened the show at Lakme Fashion Week for designers Varun Bahl Gauri and Nainika, further cementing her status as a fashion icon. Even after her maternity break, Masoom made a powerful comeback by opening the show for Abu Jani and Sandeep Khosla with CPAA to raise funds for cancer patients.

Collaborations with Global Brands

Masoom has collaborated with over 500 global brands in the fashion, beauty, and lifestyle industries throughout her career. Her clients include luxury fashion houses such as Louis Vuitton, Dior, and Bvlgari and mainstream brands like Estée Lauder, Samsung, BMW, and Airbnb.

Masoom’s collaborations with these global brands reflect her versatility and ability to resonate with a diverse audience. Her work with luxury brands underscores her status as a high-end fashion influencer, while her partnerships with mainstream brands highlight her broad appeal.

Entrepreneurial Ventures: From Style Fiesta to The Cai Store

Masoom’s entrepreneurial journey began with the founding of Style Fiesta, one of India’s first fashion e-commerce portals. As the CEO of Style Fiesta, she played a crucial role in shaping India’s online fashion retail landscape. Her innovative approach and keen business acumen helped her build a successful platform that catered to the fashion needs of a growing digital audience.

In addition to Style Fiesta, Masoom is an equity partner and leads innovation and strategy at the e-commerce start-up ‘The Cai Store’. Her involvement in The Cai Store underscores her commitment to driving growth and innovation in the e-commerce space.

Advocacy and Empowerment: #SupportIndianDesigners and Empowher

Masoom is not just a fashion influencer but a passionate advocate for Indian designers and women entrepreneurs. Through her initiative #SupportIndianDesigners, Masoom collaborates with homegrown fashion brands to help them achieve business growth. The initiative has garnered over 300K posts and has generated significant conversations for small businesses in less than a year.

In her quest to inspire women to tap into their entrepreneurial skills, Masoom founded Empowher. This initiative aims to guide, inspire, and uplift women who want to start or grow their journey in the competitive business world. Empowher provides resources, mentorship, and a supportive community for aspiring women entrepreneurs.

Recognition and Impact

Masoom’s work has been recognized by leading publications and organizations worldwide. She has been featured in Vogue, Cosmopolitan, and Social Samosa. She represented India on the Cannes Film Festival red carpet in 2019 and was a speaker at TEDxYouth@Wilrijk in Belgium.

Her contributions to the fashion and entrepreneurial worlds have earned her a place on HSBC’s list of leading female entrepreneurs worldwide and CNN’s ’20 under 40′ list. Additionally, she has won the Cosmopolitan Luxury Fashion Influencer award for two consecutive years.

A Continuous Journey of Growth and Innovation

Masoom Minawala’s journey from a fashion blogger to a global influencer, entrepreneur, and advocate for women and Indian designers is a testament to her vision, resilience, and unwavering commitment to excellence. Her ability to adapt and innovate in a dynamic industry has made her a leading figure in the fashion world.

As she continues to work with her team to curate content on fashion, lifestyle, entrepreneurship, and women empowerment, Masoom remains a powerful inspiration for aspiring influencers and entrepreneurs worldwide. Her story is a reminder that success is not just about the destination but the journey and the lessons learned along the way.

Creme Castle raises Rs 7-Cr in a seed funding

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The bakery startup Creme Castle has secured Rs 7 crore in seed funding. This investment round was led by V3 Ventures, with participation from venture capitalist Arjun Vaidya, CarDekho CEO and co-founder Amit Jain, and Indian Silicon Ventures.

The funding boost comes at an opportune time. According to CRISIL data, the Indian bakery market is projected to grow significantly, reaching sales of Rs 1,850 billion by FY2028 (an increase of 11-12% between 2024 and 2028). 

“India is increasing spending on celebrations and social media has led to rise in demand in tier 2 and tier 3 cities,” the statement said. 

Pranjay Mittal, chief executive of Creme Castle said: “Consumers are increasingly embracing celebrations, reflecting growing enthusiasm to mark special occasions, and among the reasons our investors believe Crème Castle will be among the top-three players in this (specialized bakery) space by year 2026.” 

Founded in 2013, Creme Castle delivers to over 20 locations and have ambitious plans to expand to 15 new markets by the end of FY2025. The company is seeing success through a mix of sales channels. Over half of their revenue comes directly from their own platform, with the remaining portion coming from popular food delivery apps like Zomato and Swiggy.

Jupiter gets RBI nod for mobile wallet licence 

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Jitendra Gupta, founder, Jupiter

A neobanking startup Jupiter, backed by Tiger Global and Peak XV Partners, secured a prepaid payments instrument license from the Reserve Bank of India (RBI). This exciting development allows Jupiter, based in Bengaluru, to offer digital wallets to its users. With these wallets, users can make UPI payments, transfer funds, and pay bills conveniently.

Jupiter’s founder, Jitendra Gupta, confirmed the RBI approval and revealed plans to introduce a prepaid account facility in the coming months.

“PPI functionality today is almost equal to a bank account and has all the required facilities for a user to operate the account for UPI payments and gift cards,” said Gupta. “We can now onboard a wider range of users into our ecosystem who can use the wallet for their small value daily transactions.” 

With the RBI’s prepaid payments instrument (PPI) license, Jupiter plans to expand its app’s functionalities. The app offers digital savings accounts, UPI payments, and financial management tools. However, the PPI license opens doors for exciting new features.

The RBI allows PPI accounts with full KYC (Know Your Customer) verification to function similarly to a bank account. This includes enabling UPI payments. 

As explained by Jupiter’s founder, Jitendra Gupta, customers can use the app for UPI and similar transactions while maintaining a risk-free account.

Jupiter has secured $165 million through multiple funding rounds and was valued at a cool $654 million as of June 2023, according to Tracxn data. 

This new license positions them alongside their Bengaluru-based peer, Slice, backed by Tiger Global, who obtained a PPI license last September.

For Jupiter’s founder, Jitendra Gupta, this is another major step. Last year, Amica Financial Technologies, the company behind Jupiter, received a non-banking finance company (NBFC) license from the RBI. This lending business will operate under a separate entity called Amica Finance, clarified Gupta.

Excellence Every Day: The Cook N Klean Commitment

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Mr. Udit Rupauliha, CEO Cook N Klean

Imagine this: you’ve just settled into a new city, and everything around you feels fresh and unfamiliar. Amidst the hustle of your new job, cooking and cleaning become daunting tasks, and you don’t know anyone locally, leaving you yearning for a trustworthy local maid. Mr. Udit Rupauliha, CEO of Cook N Klean, has picked the solution to this problem.
Cook N Klean, a leading provider of professional maid services, has significantly impacted the industry under the leadership of its visionary CEO. The company’s core philosophy centers on delivering exceptional maid services with a focus on quality, reliability, and customer satisfaction. Its vision is to be the leading provider of professional maid services, known for meticulous attention to detail and for creating clean, comfortable environments. To ensure this vision is consistently implemented, Cook N Klean prioritizes clear communication of its values, comprehensive onboarding, and ongoing training for its team.

In this exclusive feature, we delve into the core philosophy, vision, and strategies that drive this successful business and the personal motivations and inspirations that fuel its growth.

Core Philosophy and Vision

Cook N Klean’s core philosophy centers on delivering exceptional maid services with a steadfast focus on quality, reliability, and customer satisfaction. The company’s vision is to be the leading provider of professional maid services, known for meticulous attention to detail and for creating clean, comfortable environments. This vision is consistently implemented across all levels of the business through clear communication of values and ongoing training for the team. The culture of empowerment and accountability ensures that every team member upholds the company’s vision. Maintaining a customer-centric approach and actively seeking client feedback, Cook N Klean continuously refines its services, driving loyalty and long-term satisfaction.

Motivation and Inspiration

Running a successful business in maid services for cooking and cleaning requires immense dedication and passion. Additionally, the commitment and hard work of the team serve as daily inspiration; their dedication to excellence and customer satisfaction is truly motivating. Mr. Udit says, “My biggest source of inspiration has been my mother, who instilled in me the values of hard work, integrity, and service. She taught me the importance of caring for others and striving for excellence, which are the foundations of Cook N Klean. Her example guides my entrepreneurial journey, reminding me that perseverance and a strong sense of purpose can overcome any challenge.”

Fostering Creativity and Innovation

Cook N Klean cultivates a culture of creativity and innovation by encouraging open dialogue and collaboration, empowering the team to share ideas and propose new solutions. Regular training and development sessions keep the staff abreast of industry trends and techniques, promoting a forward-thinking mindset. One innovative solution that has set Cook N Klean apart is the “Smart Scheduling System.” This system uses advanced algorithms to optimize cleaning schedules, ensuring maximum efficiency and flexibility for clients. It allows real-time adjustments based on client needs and staff availability, improving service delivery and customer satisfaction. Additionally, the company has implemented eco-friendly cleaning techniques and offers specialized services like deep cleaning for allergy sufferers, showcasing its commitment to innovation and client well-being.

Learning from Mistakes

Founder says that a significant mistake made in the early stages of Cook N Klean was overlooking customer feedback’s importance and failing to address client concerns promptly. This resulted in some dissatisfied customers and tarnished the company’s reputation. This experience taught Mr. Udit and his team the invaluable lesson of actively seeking and responding to customer feedback. Cook N Klean implemented a robust feedback system, including post-service surveys and regular follow-ups, to ensure issues are addressed promptly, and services are continuously improved based on client input. This experience has shaped the founder’s approach to running the company by strongly emphasizing customer satisfaction and continuous improvement. The company now prioritizes proactive communication with clients, fostering trust and loyalty while constantly refining services to meet evolving needs. This customer-centric approach has been instrumental in the company’s growth and success in the competitive market of maid services for cooking and cleaning.

Integration of Technology

At Cook N Klean, practical technologies have been embraced to enhance services. The company uses an easy online booking system for convenient scheduling, Google Forms to manage appointments and collect customer preferences, and Zoho CRM to track customer interactions and feedback. For payments, secure options via Paytm and Razorpay are offered. Social media platforms like Facebook and Instagram help engage with customers and gather reviews, while WhatsApp facilitates team communication. Looking ahead, Cook N Klean plans to develop a basic mobile app for bookings and reminders, use SurveyMonkey to collect customer feedback, and leverage digital marketing tools to grow the customer base. These technologies help provide efficient, personalized service and support the company’s growth.

Empowering the Workforce

Cook N Klean is dedicated to empowering uneducated women by providing comprehensive training programs in cooking and cleaning. These programs focus on imparting essential skills to deliver high-quality services, including safe and efficient cleaning techniques, properly handling cleaning materials, and maintaining high hygiene standards. In cooking, the training emphasizes safe food handling, meal preparation, and kitchen safety. Additionally, staff are trained in using basic technology tools to manage appointments, collect customer preferences, and track customer interactions using Zoho CRM. The training also includes handling digital payments through platforms like Paytm and Razorpay. By incorporating these practical technologies and focusing on skill development, Cook N Klean aims to empower women, providing them with valuable skills and opportunities for financial independence and growth.

Success Stories

One inspiring success story from Cook N Klean’s training programs is that of Kusum, a young woman from a small town in India. With a passion for cooking but limited experience in professional cleaning services, Kusum faced initial challenges. However, Kusum quickly developed the expertise to excel in her role through Cook N Klean’s comprehensive training program, which includes hands-on training in cleaning techniques and cooking skills. Her commitment to excellence and passion for her work earned her praise from clients, who appreciated her attention to detail and delicious meals. Today, Kusum is a valued Cook N Klean team member and a role model for other women in her community. Her success story highlights the transformative impact of Cook N Klean’s training program in empowering women to pursue their passions and succeed in professional maid services for cooking and cleaning.

Team Motivation and Alignment

Cook N Klean ensures that the team stays motivated and aligned with the company’s mission and values through regular training, clear communication, and a supportive work environment. The initial training instills core values, emphasizing the importance of high-quality service, professionalism, and customer satisfaction. Regular workshops and refresher courses update the team on best practices and new techniques. Open communication is prioritized, ensuring that team members feel heard and valued. Regular team meetings provide a platform for feedback, discussion of challenges, and recognition of outstanding performance. Incentives and rewards, such as performance-based bonuses and opportunities for career advancement, help maintain high morale and drive. By aligning personal goals with the company’s objectives, Cook N Klean ensures that everyone is working towards the same mission of delivering exceptional service and empowering the workforce.

Cook N Klean’s remarkable journey and commitment to quality, innovation, and empowerment inspire aspiring entrepreneurs. By prioritizing customer satisfaction and cultivating a supportive work environment, Cook N Klean consistently sets the gold standard in the culinary and cleaning services industry. It is often said that  “Excellence isn’t just a goal; it’s our everyday practice.” This dedication ensures that Cook N Klean meets and exceeds expectations, paving the way for a brighter, cleaner, and more delicious future….

Insurtech startup Finsall raises Rs 15-Cr in bridge round 

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Finsall founders: (from left) Tim Mathews, Prabal Khanna and Promod Khanna

The Bengaluru-based insurtech startup, Finsall has secured Rs 15 crore in a bridge funding round. Led by Unicorn India Ventures and Seafund, several other institutional investors also participated. 

Finsall plans to use the fresh funds to set up a non-banking finance company. This will allow them to expand their lending operations and offer their customers even better insurance premium financing options.

The additional funds will strengthen partnerships with insurance companies, brokers, and lenders. Moreover, the company will invest in technology to create a user-friendly platform for its stakeholders. This will make the whole insurance premium financing process smoother and more digital.

In January 2022, Finsall raised Rs 12 crore in a pre-Series A round led by Unicorn India Ventures and Seafund.

“Our numbers were scaling up pretty rapidly, and with the rate at which we were growing, the existing investors felt that it was a good shot in the arm. It gave us a lot of tailwinds to go ahead and raise in the current market,” Tim Mathews, cofounder and CEO of Finsall, said.

Finsall is already in talks with multiple investors to raise around $10 million in a Series A round within the next six to seven months. This continuous funding fuels their expansion plans, including establishing a non-banking finance company, building partnerships, and enhancing their digital platform for a seamless insurance premium financing experience.

“We will feel more comfortable if we are a regulated entity. Larger players like Paytm, PhonePe, and Jupiter in the lending fintech space would be more comfortable with an NBFC, and I think that’s where we are also going. Once we have that pedigree of an NBFC, it gives a lot more confidence to the RBI as well,” Mathews said. 

Finsall started in 2018 with a mission to make insurance more accessible. This Bengaluru-based company, founded by Mathews, Promod Khanna, and Prabal Khanna, is an insurance-first “buy now, pay later” (BNPL) service. They help people pay for their insurance premiums over time.

Finsall also offers a CaaS (Credit-as-a-Service) platform. This user-friendly system helps businesses offer insurance premium financing without needing to build their own complex credit or lending software.

Finsall revenue has skyrocketed ninefold in just two years. The company expanded its reach to serve customers across a vast network of 8,000 locations in India. It has seen strong growth in non-life insurance and successfully partnered with multiple insurers. Mathews said that Finsall also plans to expand its offerings into the life insurance market.

In FY24, their insurance premiums grew an impressive 18% month-over-month on average. This success fuels their ambitious goals – Finsall aims to quadruple their revenue by the end of FY25.

“Insurance premium financing remains a nascent sector, but in the last 2 years, especially post-Covid, there is a strong customer acceptance of this model. Insurance providers to the end users are now comfortable with an option to use credit for financing insurance premiums. Given that insurance penetration in the country is still at 1%, the market opportunity is huge and we believe Finsall has built the right momentum to capitalise on this segment,” said Anil Joshi, managing partner, Unicorn India Ventures.

D2C skincare brand Foxtale raises $18M in Series B funding 

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Romita Mazumdar, founder, Foxtale

D2C skincare brand Foxtale secured $18 million (around ₹150 crore) in funding. Singapore’s Panthera Growth Partners led this Series B round. Existing investors Matrix Partners India and Kae Capital also participated. 

IndigoEdge was Foxtale’s exclusive financial advisor on this transaction. 

The fresh funds will fuel Foxtale’s growth plans, which include expanding its online presence and launching new product lines.

“At present, we are generating Rs 250 crore gross revenue and will be hitting profitability in FY25. So, the series B round will be used to further augment our growth, for profitability, and for taking Foxtale from a Rs 250 crore to a Rs 1,000 crore brand, ” she said.

“We’ve already hit profitability post-marketing expenses and by this fiscal end, we are eyeing 5 per cent EBITDA profitability,” she added.

Foxtale will be expanding its product portfolio beyond skincare. In July, they’ll be launching 4 new items (SKUs). By December, they plan to introduce another beauty and personal care (BPC) category.

“We plan to introduce 4 more SKUs by the next fiscal end in the bodycare category. Within the first year of operations, we expect this category to be profitable and contribute Rs 45 crore towards the revenue,” she said.

The brand currently has 18 items (SKUs) and aims to reach 25 by the end of the fiscal year, expanding into body care alongside its existing skincare range. 

Their sales channels are also diverse: 12% comes from offline stores, 38% from online marketplaces, and 50% from their website.

“Digital is growing 20 percent month-on-month for us,” she asserted.  

Currently, the brand has a presence in 2,500 general trade stores across seven cities in India.   

“Last fiscal, we cut down our offline presence from 3,000 stores in 12 cities to our current presence because of working capital burns. We decided to go ahead with the stores that were clocking high revenue. As a result, our digital revenue grew faster than we were expecting, and that’s why we ended up meeting our fiscal year numbers as expected,” she explained.

The brand, which closed the last fiscal at Rs 172 crore GMV sales, is eyeing Rs 400 crore plus this fiscal.

India’s tech spending to grow highest in APAC in 2024: Forrester 

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Forrester’s report predicts strong growth in India’s tech spending. India’s tech spending is expected to jump 10.8% this year, reaching ₹4.49 lakh crore (roughly $54.5 billion). This is the highest growth rate in the Asia Pacific (APAC) region.

A global market research firm released a report titled “Asia Pacific Tech Market Forecast, 2023 To 2027”. The report highlights that spending on AI-powered software and services will surge ahead of other IT categories.

“Estimated to reach ₹4,492 billion in 2024, India’s domestic tech economy continues to enjoy strong growth due to an all-round digitization push from the central and state governments,” the report said. 

Forrester report predicts continued strong growth in tech spending across Asia Pacific (APAC). The report forecasts a Compound Annual Growth Rate (CAGR) of 6.4% to 7.4% per year from 2024 to 2027, reaching $876 billion by 2027. This growth will be driven by several factors, including increased adoption of artificial intelligence (AI) and other emerging technologies.

“Over the next few years, software spending will continue its rapid growth, followed by spending on IT services, communications equipment and computer equipment. The share of software purchases will climb from 26.4% in 2024 to 30% of total tech spend in 2027, outpacing the other IT categories due to demand generated by AI and AI-augmented enterprise software and services,” the report added.

China is expected to lead the region in tech spending growth, with an anticipated increase of 7.2% to reach $261.9 billion. Other notable performers include Singapore (5.6% growth to $18 billion), Australia (4% growth to $49 billion), and the rest of Southeast Asia (8.1% growth).

“While challenges such as regulatory environments, global economic conditions and talent shortages in the region present hurdles, overall, the APAC market is well-positioned for tech growth,” said Leslie Joseph, principal analyst at Forrester. 

“As the region continues to grow in importance in the tech world, new opportunities offered by the explosion of AI and the increased demand for cloud can be significant revenue and growth drivers for firms,” Joseph added. 

A Forrester report predicts it will reach $74 billion in 2024 for the six major economies: Indonesia, Malaysia, Philippines, Thailand, Vietnam, and (incorrectly listed) Taiwan. This surge is fueled by a tech-savvy young population (Millennials and Gen Z), government support for digital initiatives, and investments by major tech companies. These factors will speed up the development of new technologies in the region.

China’s tech spending is also rising despite its economy slowing down and facing trade challenges. The report explains that China’s focus on managing the risks of Artificial Intelligence (AI) and implementing regulations will help its tech sector grow.

C3 Med-Tech raises funding to launch AI-Powered eye screening devices and telemedicine

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Yash Nagarsheth, Founder, C3 Prototypes

C3 Med-Tech, a startup based in Ahmedabad, India, has received funding from Industrial Metal Powders (amount not disclosed). This funding will be used to launch new portable eye care equipment that uses telemedicine and artificial intelligence (AI) for faster and easier eye checkups.

This technology will allow for immediate and accurate diagnoses of eye problems, along with early intervention. This can significantly improve the chances of preventing vision loss and blindness.

C3 Med-Tech aims to make eye care accessible and affordable in India by creating portable, cost-effective eye screening devices. This funding is a major step forward for the company. They plan to use the money to expand their reach across India and even globally. This will involve marketing efforts, building their team, and developing new products.

C3 Med-Tech already offers several innovative eye care devices that are patented and US FDA-approved. These include the C3 Vision-Portable Slit Lamp, C3 Smartphone Fundus Camera, and C3 Slit Lamp Imaging System. These devices help diagnose many eye diseases, including cataracts, diabetic retinopathy, glaucoma, etc. In addition, they are developing a unique system for recording eye surgeries.

This new product, the C3 Surgery Recording System, will allow C3 to cover all aspects of eye care, from initial screenings in areas with limited resources to recording surgeries in operating rooms.

C3 Med-Tech was previously part of an incubation program at the India- Healthcare Technology Innovation Centre (HTIC) at the Indian Institute of Technology Madras. They have also received multiple grants, including the BIG’17 grant from the Department of Biotechnology (Indian government) and grants from the IIT Madras Incubation Cell. The investment advisory firm INFSPL, based in Pune, India, assisted C3 in securing this latest round of funding.

Tulua Foods and Pikndel receives major funding at D2C Insider Mumbai Summit

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Mumbai, 10 June 2024 || D2C Insider, an extensive network of meticulously selected founders and CXOs hailing from the Direct-to-Consumer (D2C) ecosystem has marked a successful D2C Insider Global Summit 2024 in Mumbai on Saturday. This event, India’s largest D2C founders’ confluence, aimed to navigate the entrepreneurial journey and foster idea exchange and growth assistance among its members.

The event attracted early-stage founders from the western region of India, who pitched their ideas in front of a panel of investors and attended by a notable number of founders, investors, and senior leaders from D2C enablers and service providers in the western region of India. Following an exceptional pitch at PITCHATHONSiddharth Batra, the founder of Pikndel, was the 1st runner-up, securing an investment of 25 Lakhs and praises from the esteemed guests. However, the final first prize winner was Richy Dave, the founder of Tulua Foods Pvt Ltd, which secured a total funding of 50 Lakhs (25 lakhs from D2C insiders and 25 lakhs from credit enablers).

Besides this, brands like The Sass BarSecret AlchemistWanderlooms and Grow Billion Trees participated and showcased some remarkable pitches at PITCHATHON and garnered extensive knowledge, experience and praise from the esteemed guests.

The event was honoured by Malini Aggarwal and Nowshad Rizwanullah, the founders of MissMalini Entertainment, as the chief guests where other notable attendees included Ankit Chona (HOCCO Ice Cream), Arjun Vaidya (V3 Ventures), Vedang Patel (The Souled Store), Pooja Shirali (DSG Group), Rishubh Satiya (Plix), Anurag Kedia (Pilgrim), and Helen Cooper (Helen Cooper Luxury). 

Abhishek Shah, Founder of D2C Insider, said, “We are thrilled to organize India’s largest D2C founders’ confluence to pave the way for young entrepreneurs in India. We initiated the D2C Insider Global Summit during the lockdown, and today, we have grown into a thriving community of over 10,000 founders and leaders. I’m delighted to share that 2 out of 5 brands featured on Shark Tank are from the D2C Insider community, which is a proud moment for our entire team. India has become a hub for founders, and we are proud to be a part of this journey, helping them connect and grow.”

He continued, “Our goal in organizing these events extends beyond fostering the D2C ecosystem; we thrive on collaboration, with members supporting each other through challenges such as marketing and manufacturing. This event allows brands to showcase their products and receive immediate feedback, promoting internal growth. We believe in the power of collaboration and are committed to helping our members navigate the complexities of the business landscape. Through these efforts, we aim to build a stronger, more connected D2C community.”

The D2C Insider Regional Summit in Mumbai brought together a diverse group of D2C founders at various stages of their entrepreneurial journey, along with key investors and senior leaders from D2C enablers and service providers. The event showcased India’s vibrant and growing D2C ecosystem, providing a platform for networking, learning, and collaboration among the region’s most promising entrepreneurs and business leaders.

Ixigo IPO: Retail portion oversubscribed within hours of launch 

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Within hours of its opening, retail customers had overloaded Le Travenues Technology’s initial public offering (IPO), the parent company of online travel platform Ixigo, by a factor of 2.22. 

According to BSE data, as of 11:42 AM on Monday, retail buyers bid for 17.6 million shares out of the 7.9 million available shares. The qualified institutional buyers (QIB) have not yet demonstrated any notable activity, while the non-institutional group subscribed 0.47 times. 

A new equity issue of Rs 120 crore and an offer for sale (OFS) of up to 66.6 million shares are also part of the IPO. Partially offloading their holdings through the OFS are current shareholders Elevation Capital, Peak XV Partners, Aloke Bajpai, Rajnish Kumar, Micromax Informatics, and Placid Holdings.

Ixigo received over Rs 333 crore from anchor investors before the IPO. Nomura, Morgan Stanley, 3P India Equity Fund, HDFC Mutual Fund, Motilal Oswal Mutual Fund, the Government of Singapore, and Tata Investment Corporation are marquee investors in Ixigo’s anchor book.

A day before the anchor book opening, the company closed a pre-IPO secondary placement for about Rs 176.2 crore. Elevation Capital, Peak XV Partners, Micromax Informatics, and Madison India sold 18.9 million shares at Rs 93 apiece during this secondary offering, the highest price point in the company’s IPO range. Ashoka India Equity Investment Trust, Tata Mutual Fund, Bay Capital, and Steadview Capital are among the new investors who bought the shares.

Investors can bid on up to 161 shares per lot and in multiples of those after that. Ixigo has set a price range of Rs 88-93 per share. 10% of the IPO was allocated to regular investors, 15% to non-institutional buyers, and 75% to eligible institutional buyers.

Ixigo was established in 2007 and provides reservation services for trains, flights, and buses in addition to several useful resources like updates on train seat availability, train PNR status, and confirmation forecasts. In addition, the platform offers users automated customer support and personalized recommendations. It recently ventured into the lodging industry.

Ixigo’s operating income for the nine months that ended in December 2023 climbed from Rs 364.3 crore to Rs 491 crore, a 34.9% increase.