GenAI is reshaping how businesses build and deploy their applications, making it the most crucial technology after the cloud computing disruption. What was once considered months of hard work by data scientists can now be accomplished with a single API call, thanks to advanced GenAI models, which are well within the reach of all businesses, big and small.

To support knowledge-sharing and ensure meaningful collaborations among top tech leaders using GenAI to achieve impactful business goals, Inc42 and Oracle recently hosted The CTO Dinner in Bengaluru, an exclusive meet-up of more than 30 CTOs from leading startups. The event provided a one-of-its-kind networking opportunity and put the spotlight on technological frontiers redefining various industry segments.

Top tech leaders from fintech, SaaS, healthtech and ecommerce joined The CTO Dinner to share their insights about how GenAI is transforming software development, deepening the customer experience and engagement and improving operational efficiencies. They also deep-dived into how businesses are integrating AI-powered automation to drive innovation.  

The event hosted noted startup tech leaders, including Ramit Bhardwaj, CTO of IndiQube; Yash Dayal, CTO of Wakefit; Ravi Suhag, VP of engineering at Pixxel; Vivek Pandey, CTO of Simpl; Kaushal Singh, head of engineering at Jar; Suhas Banshiwala, CTO, AEREO, and Santosh Hegde, technical head, WOW Skin Science, along with other prominent names in India’s startup ecosystem. 

Inc42 also caught up with Shabeer Mohamed, senior sales director at Oracle, who discussed how AI-driven solutions enhance business performance and streamline operations. 

Building Secure GenAI Infrastructure For India’s Startup Ecosystem

According to a Statista survey, 68% of the companies worldwide said that GenAI increased their vulnerability to cyberattacks. In fact, the widespread integration of AI in recent years has exposed systems to increasingly sophisticated threats from a growing number of adversaries.

To cope with these challenges, businesses must build or adopt secure GenAI cloud infrastructure, integrating cybersecurity elements from the design phase instead of adding those as an afterthought and paying a premium. 

“Cloud security should not incur additional costs on top of your cloud spending. It should be a mandate [from the beginning],” said Mohamed. 

As the recently held CTO Dinner provided ample opportunities for new-gen tech leaders to forge connections and act collaboratively, this may soon result in a collective effort to deal with the perennial challenges of cyberattacks.

Despite these glitches, cybersecurity solutions are here, and GenAI is thriving, as expected. According to Inc42 estimates, the homegrown GenAI market will surpass the $17 Bn mark by 2030. Today, this technology is not just an enabler. It ensures a foundational shift and determines how tech-driven businesses will operate.

The post Inc42 & Oracle Bring 30+ Tech Leaders Together For A Deep Dive Into GenAI Adoption & Cybersecurity appeared first on Inc42 Media.

The pandemic has split human civilization into two distinct phases. . If pre-Covid was about pacing up along a known track, then post-Covid has been about zooming into uncharted territories. After we wriggled out of the restrictions, there was a frenetic rush to revive both in lives as well as in businesses, and the world embraced New Normal. 

India, the fifth-largest economy and home to over 1.4 Bn people, stood at the heart of this global transition, with its retail market growing at the fastest clip across the world. 

The government’s push for financial inclusion and the transformative rise of fintechs has positioned the Indian consumer at the best spot to try out solutions that could make their lives safer, simpler and, of course, smarter. This was the inflection point for the origin and growth of quick commerce. Once the consumer got the taste of its speed and convenience, there was no turning back. 

Quick commerce zoomed to incredible heights in sync with the speed with which it delivers products to consumers and its overall revenue surpassed $4.2 Bn between 2021 and 2023. The disruption expanded from metros to tier II cities, deepening the penetration rate to 2.7% by 2025 and yielding room for new players. Quick commerce companies gave marketplaces & direct-to-consumer (D2C) players a run for their money with speed being their main selling point. 

The urban Indian consumer is not only spoilt for choice now, but is also pampered with doorstep delivery in minutes. Initially limited to groceries and daily essentials, the influence of 10-minute delivery models has now expanded into categories like electronics, personal care, and even fashion. 

Most new-age D2C brands are unable to list themselves on the popular 10-minute delivery platforms because of limited resources and the lack of bargaining power. As a result, selected omnichannel FMCG majors and category-leading companies are firming up their presence further on quick delivery apps, taking a larger chunk of the pie and eventually hurting sales of other  brands. 

This is leading brands to reinvent their logistics and adopt strategies that prioritise speed and efficiency to meet the evolving customer expectations in this fast-paced market. While building the supply chain is completely out of the question for early-stage companies, finding the right channel to reach customers faster could be a make-or-break deal. 

A fear of missing out seeped into D2C brands as they raced against the quick commerce companies. 

Platforms like Zippee saw the sweet spot in solving this niche problem for D2C businesses by helping them deliver their products directly to customers within hours. Instead of paying high commissions on sales to list on popular quick commerce platforms, the D2C brands are increasingly integrating Zippee into their supply chain.

Towards Greater Customer Experience

D2C brands traditionally relied on third-party courier  services which are generally ill-equipped for redefined expedited timelines. Most of the companies recorded a rise in drop-offs and non-delivery reports (NDR) along with high rate of return-to-origin (RTO) due to long delivery periods. Sales went downhill as buyers turned reluctant to wait for 4 to 10 days to get their products. 

Besides logistics, managing inventory across multiple locations to ensure proximity to customers is a challenge as it comes with its technical complications and adds to the cost. 

Enablers like Zippee help brands address these challenges by enabling 120-min & same-day delivery, which can significantly reduce NDRs and RTO rates. By executing orders directly through a brand’s D2C channel, they allow brands to retain customer data— an advantage that is often lost when selling through quick commerce platforms or third-party marketplaces.

For snacking giant Mondelez India, speed and reliability play a crucial role in transforming how they serve their Cadbury Gifting customers.

A Mondelez India spokesperson, explains “With quick commerce now offering gifting products, consumer expectations on delivery speeds have changed. So naturally, speed has been a critical element of our value proposition at Cadbury Joy Deliveries, as last-minute gifting continues to grow. It will be pertinent to maintain a competitive delivery speed & experience to drive long term growth for cadburygifting.in.”

Zippee’s WhatsApp tool enables real-time order tracking, improving WISMO (where-is-my-order) rates. Its cash-on-delivery (COD) verification flow prompts customers to reconfirm orders before dispatch, helping brands reduce logistics costs.

Operating in 13 cities and 1,000+ pin codes, Zippee uses dark stores and last-mile fleets to streamline deliveries. Its tech stack integrates with brands’ existing online stores, giving them full control over sales, marketing, and customer data. A centralized dashboard allows brands to track everything from order confirmations to live delivery updates—without disrupting core operations.

Brands on Shopify, WooCommerce, Magento, and marketplaces like Amazon, Flipkart-Myntra, and AJIO can integrate Zippee through a simple plug-and-play model to sync orders, catalogs, and inventories.

The startup delivers more than 3 lakh shipments every month for brands across F&B, beauty personal care, & apparel including Epigamia, Clinikally, Frido, Mondelez, mosaic wellness, Masterchow and krishna’s herbal.

Despite its advantages, the rapid growth of Zippee and similar logistics enablers raises the question: Can such models truly level the playing field for D2C brands?

While enablers have played a role in improving conversion rates for many brands, their broader impact, particularly on smaller players, remains an area of debate.

As Madhav Kasturia, founder & CEO of Zippee puts it, “Consumers love it. Brands love it even more—because they get to offset CAC more sustainably. We’re solving the most-pressing Q-comm painpoints— by building products from the ground-up. How do I know it’s working? Several Indian consumer brands started off as our customers, saw the impact first-hand, and their founders ended up becoming investors in Zippee.”

Road Ahead for Quick Commerce And D2C

As quick commerce giants like Blinkit, Zepto, and Swiggy Instamart continue to expand aggressively, they are reshaping consumer behavior and setting new expectations for delivery speed and efficiency. While this shift presents growth opportunities, it also creates pressure on D2C brands to meet the rising demand for faster deliveries. Logistics is increasingly becoming a critical factor in customer satisfaction and brand loyalty.

Many D2C brands listed on quick commerce platforms are facing challenges with fulfilling and replenishing orders to their dark stores and central distribution hubs on time. App stockouts and delays in replenishment hurt customer experience and undermine brand trust- which are missed opportunity costs for the brands.

According to Inc42, India’s D2C market is expected to reach $300 Bn by 2030, fueled by innovation and new brands entering the space. To remain competitive, D2C brands must adapt to new delivery standards, ensuring speed and efficiency are embedded in their strategies. Today, success for D2C brands hinges on three core pillars—product, price, and logistics— underpinned by a robust tech stack.

For Allter, a fast-growing babycare brand, quick commerce plays a vital role, but it’s not their only focus.

“We’re active across all major quick commerce platforms, but having a direct channel with our community of young parents is crucial to our strategy. Enablers like Zippee help us bridge the gap, offering the speed of quick commerce while preserving a relationship with our customers,” says Surbhi Gupta, founder of Allter.

Enablers help brands navigate this evolving landscape, allowing them to meet quick commerce expectations while maintaining control over customer experience, marketing, and logistics costs. Growing dark store networks and efficient last-mile delivery are key to reducing return rates, increasing conversion, and fostering repeat purchases.

As two of India’s fastest-growing sectors, quick commerce and D2C continue to evolve, logistics innovation will be critical in shaping brand success. Startups like Zippee are working to address fulfillment challenges, but the real test lies in how these models scale sustainably. What’s clear is that the quick commerce opportunity is still unfolding— and its long-term impact on the ecosystem could be far greater than projected.

The post Matter of Minutes: How D2C Brands Can Win the Quick Commerce Game appeared first on Inc42 Media.

The third and the final day of Startup Mahakumbh saw key government officials, founders and investors from the startup ecosystem, and industry leaders gather under one roof to drive the future of innovation and entrepreneurship in the country. 

In a powerful demonstration of India’s thriving entrepreneurial landscape, this year’s Startup Mahakumbh emerged as the nation’s largest-ever startup congregation, drawing an impressive footfall of approximately 2,30,000 visitors over three days.

The event brought together over 3,000 startups, 1,091 investors and incubators, alongside 10,000+ delegates representing India and more than 60 countries under one roof. Innovation took centrestage across 211 specialised sessions featuring 750+ industry leaders and experts, while 1,052 emerging ventures benefited from targeted mentoring opportunities. 

Themed “Startup India @2047 – Unfolding the Bharat Story”, India’s biggest startup conclave was hosted at Bharat Mandapam in New Delhi from April 3 to 5, 2025. The event highlighted India’s advancements across cutting-edge sectors including artificial intelligence, deeptech, cybersecurity, healthtech, biotech, and spacetech.

Deeptech Innovation To Achieve ‘Viksit Bharat 2047’

The day kicked off with a discussion on India’s R&D ecosystem and its role in shaping the nation’s future.

Karnataka Digital Economy Mission’s CEO Sanjeev Kumar Gupta, who moderated the discussion, highlighted that India spends just 1% of its GDP on R&D compared to the US’ 3% and Israel’s 5%.

During the discussion, Digital India Foundation CEO Arvind Gupta pointed out the big strides taken by the country’s startup ecosystem over the last decade or so and called for creating an innovation-driven ecosystem, with a focus on deeptech sectors. 

He said that the country should aim to have a $1 Tn R&D-led innovation ecosystem as it progresses towards becoming a $10 Tn economy.

The other panellists in the session were MeitY Startup Hub’s Madangopal, IvyCap Ventures’ founder and managing partner Vikram Gupta, and Ideaspring Capital’s managing partner and founder Naganand Doraswamy. 

A consensus emerged among the members that India’s startup ecosystem, with the right support from the government and industry stakeholders, is well-positioned to drive innovation-led growth to make a self-reliant India. 

Celebrating The Entrepreneurs Of Tomorrow 

The winners of the Startup Maharathi Challenge and Futrepreneurs Programme were also announced in the presence of union commerce and industry minister Piyush Goyal. 

The Startup Maharathi Challenge 2025, with a prize pool of INR 70 Cr, aimed at identifying startups focussing on 11 critical problem statements in frontier sectors like satellite imagery, maritime awareness, cryptography, LLMs on sensitive data, and cybersecurity. 

Through a multi-phase evaluation, over 240 startups were selected out of 2,400 applications.

The selected startups will receive grants of up to INR 5 Lakh. In addition to financial support, they will gain access to a network of 100+ investors, including VCs, family offices, and ultra-high-net-worth individuals. 

Some of the top startups that emerged from this challenge were ONIBER Software, Aegion Aerospace, Raana Semiconductors, Orange Koi, Lxme, MeraBills, Collearn, Misya Beauty Tech, Nibiaa Devices, GR8 Sports India, Ngurie Organic and others.

On the other hand, the Futurepreneurs Programme, with an INR 1 Cr prize pool, was focussed on nurturing student innovators from Indian colleges by providing funding, mentorship, and industry exposure. Top 10 finalist teams pitched AI-powered solutions addressing critical societal needs to a distinguished audience of investors and industry leaders. The top three included:

• Chitkara University, Chandigarh claimed top spot with “Stick Buddy,” a smart navigation device enabling visually impaired individuals to detect obstacles and access emergency assistance. 
• Tula’s Institute, Dehradun, secured second place for “Pragati,” an AI nurse robot delivering instant health assessments through handshake technology. 
• Vignan Pharmacy College, Andhra Pradesh, took third position with “Magna Pads,” innovative menstrual care products that incorporate diagnostic capabilities for early detection of women’s health conditions.

The Startup Mahakumbh also hosted hackathons, such as INR 50 Lakh Ayushman Bharat challenge for developing AI-powered voice-to-text systems for medical use and INR 20 Lakh challenge for creating AI tools to break language barriers in government services.

The post Startup Mahakumbh Ends With A Call To Leverage Deeptech Innovations For A ‘Viksit Bharat’ appeared first on Inc42 Media.

The second day of Startup Mahakumbh today witnessed the same energy and enthusiasm as the previous day, as the country’s key policymakers, entrepreneurs and investors from the startup ecosystem, and international guests came together at New Delhi’s Bharat Mandapam. 

The event, themed “Startup India @2047 – Unfolding the Bharat Story”, hosted thousands of visitors, including students and budding entrepreneurs, from India’s burgeoning startup ecosystem. 

The second day saw insightful panel discussions, fireside chats and keynote addresses on diverse topics like space and defence technology, India’s manufacturing prowess, building B2B brands, manufacturing, fintech, climate change, mobility, scaling startups, and many more. 

Specially curated startup booths/pods within thematic pavilions offer startups a platform to showcase their innovations to key stakeholders, including angel investors, venture capitalists, corporate and ecosystem-driven incubators, accelerators, government agencies, and international investors. 

Startup Mahakumbh features over 3,000 startups, 1,000+ investors and incubators, and 10,000+ delegates from 50+ countries, making it a prime opportunity for startups to pitch their businesses, build investor relationships, and secure crucial funding.

The day kicked off with a keynote speech by India’s G20 Sherpa and former NITI Aayog CEO Amitabh Kant, who said that the Centre and state governments should lead the adoption of innovative solutions from startups. 

“When startups create disruptive technologies, the government should step in as their initial customer,” he said, highlighting the Government e-Marketplace (GeM) as the best example of this approach.

Kant also said that deeptech innovations, in sectors like artificial intelligence, machine learning, blockchain, and data analytics, require investors willing to commit funds for extended development cycles. 

“The deeptech sector specifically needs capital that can remain invested for longer periods,” he noted, while cautioning that disruptions in global supply chains and tariffs imposed by the US would likely constrain venture capital availability globally.

Notable figures like L&T executive vice-president Arun T Ramchandani, Navi Group executive chairman Sachin Bansal, Paytm founder and CEO Vijay Shekhar Sharma, Finland’s ambassador to India Kimmo Lähdevirta, among others, were among the attendees on the second day. 

The second day also saw the launch of the India Fintech Foundation in the presence of Kant, DPIIT joint secretary Shri Sanjiv and former deputy governor of Reserve Bank of India NS Vishwanathan. This initiative marks a significant step towards fostering a sustainable, innovative, and self-regulated fintech ecosystem in India.

Following the inauguration of the Startup Mahakumbh on Thursday (April 3), union minister for commerce and industry Piyush Goyal returned to Bharat Mandapam for a walk through of the mega exhibition on Day 2 of the event.

Patient Capital The Talking Point Of The Day

Across various sessions, industry and sectoral experts dived deep into thematic discussions and shared their valuable insights.  

Speciale Invest partner Arjun Rao, who was a part of a panel discussion on the topic “Space and Defence – The Next Global Giants from India”, said, “The space and defence sectors represent tremendous opportunities for India to develop global champions, but we must acknowledge the unique challenges startups face in these domains.” 

Rao called for coordinated efforts from the government, VC firms and ecosystem enablers to create a support framework tailored to these realities. “In capital-intensive sectors like these, efficiency becomes paramount—we must ensure every single dollar invested delivers maximum impact… Only then can India truly unleash its potential to create global giants in space and defence.”

Talking about the startup-driven economic transformation, MeitY additional secretary Abhishek Singh said that India is taking big strides in deeptech innovations.

“India stands at a pivotal moment in the global AI landscape. While we currently trail the US and China, our momentum in deeptech innovation is undeniable. To truly compete, we must prioritise three strategic imperatives: developing our own foundation models, systematically building world-class AI talent, and significantly increasing our research investments,” Singh said.

He hailed India’s emergence in the AI space but also underlined the requirement of patient capital to become a leader. “This is not a sprint but a marathon that could fundamentally reshape our digital economy,” added Singh. 

Meanwhile, Climate Collective director and senior partner Juhi Joshi called for immediate steps to address climate change challenges. “The climate crisis isn’t a distant threat—it’s our present reality demanding immediate, coordinated action,” she said. 

Joshi highlighted the need for a comprehensive approach and more investments in climate research and infrastructure. “We must recognise that breakthrough climate technologies require patient capital—investors willing to support the extended development cycles inherent in deeptech solutions. The talent and innovation capacity exists in India, what we need now is the enabling framework that allows these climate solutions to flourish and scale globally,” Joshi added. 

CarDekho cofounder and CEO Amit Jain, who was part of a panel discussion on “Mobility @2047 – The Road Ahead”, underlined a three-pronged approach for decongestion – accelerating public transportation development, expanding shared mobility options, and building robust EV infrastructure in metros before extending to tier II & III cities, along with developing alternative fuels like green hydrogen. 

“The future of mobility lies in creating seamless, integrated journeys across multiple transport modes,” he said.  

Role Of New-Age Tech Startups In Building Viksit Bharat

During a fireside chat on “Building and Scaling Brands Beyond 100 Cr in D2C”, boAt cofounder and CMO Aman Gupta advised D2C entrepreneurs to focus on three critical elements while starting a D2C brand – product-market fit, deeply understanding customers, and strategically investing in performance marketing. 

He advised entrepreneurs to start small and be frugal, noting that unique ideas aren’t necessary for success—superior execution is what truly matters. Gupta said that India is currently at a juncture where founders are being celebrated as brands themselves, which has created a culture which champions entrepreneurship.

Meanwhile, ixigo cofounder and group CEO Aloke Bajpai during a quick chat with the Inc42 team at the D2C pavilion said that India’s consumer landscape is undergoing a remarkable transformation. “Today’s Indian consumer, particularly Gen Z, is aspirational, has greater purchasing power, and demands fundamentally different experiences than previous generations.” 

Bajpai predicted that new-age tech startups will play an important role in achieving the goal of a ‘Viksit Bharat’ by 2047.

Looking Ahead To Action-Packed Day Three

The third day and the final day of Startup Mahakumbh on April 5 will also be full of impactful sessions, featuring key addresses, panel discussions and networking opportunities. The final day will begin with a session on India’s rising quick commerce sector featuring Info Edge founder and executive vice chairman Sanjeev Bikhchandani and Blinkit cofounder and CEO Albinder Dhindsa.

MeitY Startup Hub CEO Panneerselvam Madangopal, Karnataka Digital Economy Mission (KDEM) CEO Sanjeev Kumar Gupta, WinZO Games cofounder Paavan Nanda, LetsVenture founder and CEO Shanti Mohan, SIDBI general manager Satya Prakash Singh, IvyCap founder and managing partner Vikram Gupta, and other notable names will share their views on India’s rising startup sector. 

The last day of the event shall focus on the announcement of winners of The Startup Maharathi Challenge, a flagship initiative under Startup Mahakumbh 2025, aimed at discovering, showcasing, and supporting India’s most promising early and growth-stage startups and the Futurepreneurs Programme, an initiative that focuses on nurturing student innovators from top colleges across India. 

The post From AI To EVs: Day 2 Of Startup Mahakumbh Showcases Bharat’s Tech Ambitions appeared first on Inc42 Media.

As the Indian real estate market makes steady rise to reach a trillion-dollar valuation by 2030, construction activities are growing in sync, especially in Tier-I and Tier-II cities. The growth of the construction sector, however, staggers over hurdles in sourcing quality raw materials like cement and steel at stable prices. 

Every project needs to face challenges like endless negotiations with suppliers, price fluctuations and delayed deliveries. Such deterrents not only hinder the country’s infrastructure growth, but also limit the potential for the $90 Bn construction materials industry. 

“There was an immediate need to plug this gap,” said Aaditya Sharda, cofounder of Infra.Market. “To keep up the momentum of the real estate market” Sharda devised technology-based solutions to simplify the procurement of construction materials and make the fragmented industry more efficient. 

Inc42 spoke to the Infra.Market cofounder on the sidelines of Startup Mahakumbh, the country’s biggest congregation of startups, innovators, investors, and policymakers. “Startup Mahakumbh is an excellent opportunity for startups to explore business opportunities and tap into a supportive network that accelerates growth,” Sharda said as he talked about the making of Infra.Market to disrupt a traditional sector with advanced technology. 

The second edition of the annual event kicked off on April 3, 2025 at New Delhi’s Bharat Mandapam. The three-day event, closing on April 5, has brought thousands of startups, investors, and government stakeholders, with a strong focus on sector-specific growth, public-private collaboration, and innovation under one roof. 

As the interaction with Inc42 progressed, Sharda shared what makes him a strong believer in the opportunities that events like Startup Mahakumbh throw up to Indian entrepreneurs and how he benefited from the event’s first edition himself. 

Here are the edited excerpts from the conversation…

Inc42: What key factors do you believe are essential for startups looking to innovate in traditional sectors like construction material?

Aaditya Sharda: We disrupted the construction materials industry with a differentiated business model, which is key for any startup looking to innovate in a traditional sector. While every building materials brand aspires to rank among the best in their respective categories, Infra.Market’s approach has been to capture the highest wallet share from a customer, rather than strive for market leadership. 

Following a platform-based approach, we offer more than 15 building material categories, a range that no other brand provides at such a scale, becoming a true one-stop shop for project owners, architects, and contractors.

Timely product fulfillment is another crucial aspect of our business and to ensure this, we operate more than 250 fully owned manufacturing plants, which is more than anyone has in the sector. Our manufacturing, logistics, and demand planning processes are also driven by in-house technology integration, which has become a differentiator. 

Inc42: What advice would you give to first-time founders about adapting to their roles as their companies grow?

Aaditya Sharda: As I built Infra.Market, my leadership style has evolved significantly. Initially, I was deeply involved in every decision, but as we scaled, we brought in industry veterans and gave them full freedom to build their respective verticals using industry-best practices. We created multiple companies within one, and that’s the strength of the senior leadership talent we have. 

The expertise of industry leaders brings experience and insight to the table that immensely help in refining the business strategy, streamlining operations and navigating the complexities of the construction sector.

At Infra.Market, we tried to solve specific problems that others had not and scaled once we were confident that the business was on the right track. 

The key to our success has been focusing on innovation, market knowledge, and learning from failures to drive profitable growth. A crucial lesson in this journey was learning which capabilities to build in-house and which ones to acquire or bolt on. By striking this balance, we could grow more efficiently without overextending ourselves.

I would suggest the first-time founders stay grounded in this approach, focus on innovation, embrace learning from setbacks, and always prioritise profitability over growth in the long term. If you can’t sustain what you’re building, it’s difficult to create lasting value.

Inc42: How do you think Indian startups can position themselves best to leverage emerging technologies like AI and ML while also addressing potential ethical concerns?

Aaditya Sharda: As artificial intelligence (AI) and machine learning (ML) continue to disrupt industries across sectors, we can use it to our advantage in ways that improve the overall efficiency of our operations, quality of our products and the overall business model. 

Infra.Market uses technology to ensure highest standards in operations. AI helps us to remain accurate and reliable even in a rather traditional sector.

I can give you an example. We have integrated IoT (internet of things) with batching systems in our concrete plants that enable us to track specific mix designs and track our material consumption in real-time. With this, we can see if the correct quantities of raw materials are being used according to the specifications of the project and do all that with little human intervention. This not only makes us accurate in our operations but also gives us the trackability and transparency which are crucial for any business. 

But yes, ethical concerns are there and, as these technologies continue to advance, it is more crucial for startups to address these concerns and use AI and ML responsibly in their operations. 

Inc42: You’ve stressed on customer-centricity and executional excellence. How can early-stage startups instill these principles in their operations from the beginning?

Aaditya Sharda: Early-stage startups will have to build customer-centricity and executional excellence right from the scratch and grow alongside their customers while also ensuring that this process is agile and they respond to the market needs swiftly. 

From day one, the startups should set clear standards and try their best so that every product or service exceeds customer expectations. Building a culture of accountability within the team is another crucial step that drives executional excellence, while maintaining close connections with customers ensures the company stays focused on solving real problems.

We follow these closely throughout our entire project lifecycle. We work closely with builders, contractors, architects and government bodies to ensure that they get whatever products they want with no hassle. 

Inc42: How do you see Startup Mahakumbh evolving to become a catalyst for cross-sector collaboration and innovation in India’s startup ecosystem?

Aaditya Sharda: Startup Mahakumbh can evolve into a platform for cross-sector collaboration, where startups from different industries come together to share insights, explore joint ventures and collaborate on solving large-scale challenges. 

This collaborative ecosystem can help drive innovation not just within individual sectors but across industries, creating multi-dimensional solutions that have a broader impact. The focus should be on bringing together expertise from diverse sectors to inspire new ways of thinking and doing business.

Inc42: In what ways can Startup Mahakumbh contribute to positioning India as a global innovation hub and attracting international attention to its startup ecosystem?

Aaditya Sharda: India’s entrepreneurial spirit, diverse talent, and tech-driven solutions hold immense potential to attract global attention that helps in cross-border collaborations and unlocking of new markets and funding opportunities.

We believe there is no one-size-fits-all approach to growth. While our strategy centres on identifying which capabilities we can build in-house and which ones we should acquire through partnerships, this tailored approach has been key to our success in the construction materials industry. For others, the path may look different, but the core principle of adapting, innovating, and creating synergy remains universal.

Startup Mahakumbh serves as a key platform connecting entrepreneurs, investors, and thought leaders to showcase India’s strengths in innovation, tech integration, and manufacturing. By increasing visibility and attracting global attention, it provides startups with the resources to scale internationally, positioning India as a leader in global innovation and boosting the economy. 

The post Why Infra.Market Sees Startup Mahakumbh As A Launchpad For Bharat’s Infrastructure Future appeared first on Inc42 Media.

The second edition of Startup Mahakumbh kicked off on Thursday (April 3) on a high note as the crème de la crème of India’s tech ecosystem descended upon New Delhi’s Bharat Mandapam. 

The theme of the second edition of Startup Mahakumbh is “Startup India @ 2047 – Unfolding the Bharat Story”. First launched in 2024, the marquee event has emerged as a key initiative by the government to empower Indian entrepreneurs and recognise their innovation on a global scale.

On Day 1, the event hosted thousands of participants with an expansive exhibition of over 3,000+ booths. The event also included booths from government organisations like DPIIT, GeM and MeitY, along with industry giants such as Paytm, Groww, and Swiggy. 

The inaugural ceremony was attended by key government dignitaries, business stalwarts and new-age innovators including union minister for commerce and industry Piyush Goyal. 

The opening plenary session was hosted in the presence of union minister of state for ministry of commerce & industry and ministry of electronics & information technology Jitin Prasada, who put forth in his speech, “It is not only the government and the stakeholders who are sitting on the dais, but each one who is attending the event, who will and has contributed to the growth story of ensuring India does become the developed nation of Bharat by 2047. We want the start-up experts, innovators and industry to collaborate for a better, stronger and a more vibrant India.”

The session also saw the presence of  DPIIT secretary Amardeep Singh Bhatia, GeM ACEO & CFO Satya Narayan Meena and ECGC Ltd. chairman Sristiraj Ambastha along with other luminaries, Startup Mahakumbh organising committee members and industry leaders.

DPIIT joint secretary Shri Sanjiv shared his views on the event and said, “Startup Mahakumbh is not just a platform—it is a movement that showcases India’s innovation potential and paves the way for a stronger, more self-reliant startup ecosystem. The way the startup community, investors, policymakers, and industry leaders have come together to make this event a success is truly commendable.”

India’s Top Business Brains Envision The Future Of Country’s Startup Ecosystem

During the inaugural plenary-themed ‘Road to Startup India 2047,’ GeM’s CEO Ajay Bhadoo talked about leveraging the government’s marketplace to propel startup growth and innovation. 

Chiming in, SIDBI chairman and MD Manoj Mittal shared his view on strengthening the startup financing ecosystem in India. Mittal talked about SIDBI’s role in building sustainable financing avenues for Indian startups. 

The opening plenary session also saw the participation of Nasscom president Rajesh Nambiar and Assocham president Sanjay Nayar. NITI Aayog CEO BVR Subrahmanyam, CEA Venkatramanan Anantha Nageswaran, defence secretary Rajesh Kumar Singh, and Ficci president Harsha Vardhan Agarwal were among the other key figures that attended the event on its first day. 

Meanwhile, leading entrepreneurs and investors, including Lenskart CEO and cofounder Peyush Bansal, boAt cofounder and CMO Aman Gupta, upGrad cofounder and chairperson Ronnie Screwvala, and Rukam Capital founder and managing partner Archana Jahagirdar also joined the first day of India’s biggest startup conclave. 

Sharing his views on the future of the workforce, upGrad’s Screwvala said, “Within the next five years, I think 20-25% of workers will handle multiple roles in ways we haven’t seen before.” 

He advised entrepreneurs to focus on building values rather than only raising funds. “Remember, creating value matters more than just raising capital. And for long-term success, you will have to develop your soft skills and embrace calculated risks that will come your way,” Screwvala added.

With more than 10 thematic pavilions on themes such as AI and deeptech, B2B, precision manufacturing, defence and spacetech, biotech and healthcare, mobility, D2C, fintech, gaming and climate tech, the event brought together experts from various industries.

The event’s first panel discussion on fintech brought together industry leaders to explore how fintech envisions Bharat and what Bharat truly means to them. Speaking about catering to a nation of 1.4 Bn, Bajaj Capital’s joint chairman & MD Sanjiv Bajaj said, “Bharat is India. It is inclusive. It is everyone—everyone, who can afford a service. Today India is a huge opportunity and you need to choose your niche.” 

“Today financial inclusion is important for any fintech or even the government of India. But ten years back taking a loan from an app was unimaginable. Yet today there are lakhs of customers who are buying financial products from the apps,” Paytm chief business officer Ripunjai Gaur pointed out.

Sharing her views during another panel discussion on healthcare and biotech, IAN cofounder Padmaja Ruparel highlighted the need for higher research capabilities, improvements in infrastructure, and meaningful collaborations between the public and private sectors. 

“By working together, we can empower young innovators to drive the transformative changes our healthcare system needs,” Ruparel said. 

Meanwhile, Games 24×7 cofounder and CEO Bhavin Pandya, who participated in the panel on the future of tech in media and entertainment, said, “AI will transform gaming, media, and entertainment through real-time content creation, personalised experiences, and ethical game moderation. However, AI won’t replace humans — it will create opportunities for those who can work effectively with these technologies.”

During a fireside chat themed “Banking Tech Stack: Role of Technology in the Financial Ecosystem”, IDFC FIRST Bank MD and CEO V Vaidyanathan said, “Behind every successful venture lies not just a good idea but also the connected digital infrastructure that enables it to scale and adapt.” He emphasised how a robust tech stack can provide both reliability and innovation for a fintech startup.

The first day of the Startup Mahakumbh ended with a speech by commerce and industry minister Piyush Goyal, who encouraged entrepreneurs to dream big and think global. 

“India is not taken lightly today. We are the world’s fifth-largest by GDP, and by 2027, we will be the third-largest economy. This shift in mindset is best reflected at Startup Mahakumbh. We must think big, stay ambitious, and explore the unknown. Let’s not limit ourselves by the past — let’s shape the future with deeptech, innovation, and global aspirations,” noted Goyal. 

Looking Ahead To Day Two Of Startup Mahakumbh 

The second day of Startup Mahakumbh will continue the impactful three-day journey with an action-packed agenda featuring keynote speeches, panel discussions, and networking opportunities.

The day will kick off with a keynote address by G20 Sherpa and former NITI Aayog CEO Amitabh Kant. His address will set the stage for a day filled with insightful discussions, industry dialogues, and fireside chats.

Following the address, leading voices from India’s startup ecosystem will take the stage, including Intellectual Property Organisation’s Macro M. Aleman, DRDO chairman Samir Kamat, MeitY additional secretary Abhishek Singh, boAt’s Gupta, Navi Group’s Sachin Bansal, Paytm founder Vijay Shekhar Sharma, CarDekho’s Amit Jain, among others.

The post Startup Mahakumbh Kicks Off In Delhi With Grand Vision For Viksit Bharat 2047 appeared first on Inc42 Media.

The second edition of Startup Mahakumbh, one of India’s largest innovation and entrepreneurship events, is all set to take place from April 3 to 5 at Bharat Mandapam in New Delhi. Building on the success of the inaugural edition, which featured over 1,300 exhibitors and attracted over 48,000 visitors, this year’s gathering promises to be even more impactful. 

This edition’s theme is “Startup India @ 2047 – Unfolding the Bharat Story”. It aims to further innovation and entrepreneurship in the country.

The event will bring together 3,000 startups across 12 sector-focused pavilions, including AI, deeptech, healthtech, fintech, cleantech, and mobility. It will feature a mix of panels, fireside chats, and mentorship sessions led by founders, investors, policymakers, and domain experts. Alongside, masterclasses, workshops, and networking formats like investor connect will focus on practical guidance and exposure for early and growth stage startups.

Across three days, Startup Mahakumbh will bring together industry leaders, policymakers, and investors on the main stage to unpack key themes like tech-led scaling, capital access, and regulatory tailwinds. Parallel thematic tracks will dive deep into frontier sectors — AI, fintech, healthtech, cleantech, and mobility, offering targeted insight and connections for founders building in these spaces.

Themes In Focus At Startup Mahakumbh

Startup Mahakumbh will open with a high-powered conversation on India’s startup vision for 2047, featuring senior government voices like NITI Aayog CEO B.V.R Subrahmanyam, FICCI president Harsha Vardhan Agarwal, DPIIT secretary Amardeep Singh Bhatia and joint secretary, Shri Sanjiv, who will anchor high-powered discussions on India’s entrepreneurial vision for 2047. These conversations aim to chart a path for scaling innovation across sectors, deepening public-private collaboration, and unlocking Bharat’s startup potential beyond metro cities.

Capital and financial innovation will be another key theme. From decoding India’s fintech scale playbook with voices like Paytm’s Vijay Shekhar Sharma, Navi’s Sachin Bansal and Jupiter’s Jitendra Gupta, to mapping the contours of startup liquidity and venture debt with leaders from Stride Ventures and Aavishkaar Group, expect sharp insights into what’s driving — and what’s holding back — India’s financial flywheel. Siddarth Pai (3one4 Capital) and V Vaidyanathan (IDFC First Bank) will also examine the role of tech in reshaping India’s financial infrastructure.

The evolving consumer and mobility landscape will be in focus with sessions led by Lenskart’s Peyush Bansal, CarDekho’s Amit Jain, TVS Group’s Sharad Mohan and Rukam Capital’s Archana Jahagirdar. These panels will dive into what it takes to build sticky, scalable brands and how India’s transport and commerce infrastructure will adapt to the next phase of urbanisation and demand.

At the heart of the summit is a call for founders to think long-term. upGrad’s Ronnie Screwvala will speak on building enduring ventures and the importance of giving back, while a closing fireside chat between Info Edge’s Sanjeev Bikhchandani and Blinkit’s Albinder Dhindsa will explore how new market categories are created — and sustained.

Crucially, Startup Mahakumbh will also spotlight inclusion and scale from the ground up. SIDBI’s Satya Prakash Singh will speak about strengthening India’s startup backbone through public-private partnerships, while thematic pavilions across agritech, climate tech, and healthtech will feature founders like FarMart’s Alekh Sanghera, S4S Technologies’ Nidhi Pant, Praan’s Angad Daryani, and Smart Joules’ Arjun P Gupta.

Bollywood actress Sonam Kapoor and YouTuber & actor Bhuvan Bam will also join the event, bringing engaging stories and lighthearted banter to the stage. Lifestyle influencer and Chief Travelling Officer of Curly Tales, Kamiya Jani will also be a part of the event. YouTuber and social media influencer CarryMinati will offer a masterclass at the Gaming and Sportstech Pavilion at the Startup Mahakumbh.

Alongside with them, Siddharth Dungarwal, Founder & CEO, Snitch, and Vedang Patel, Co-founder, The Souled Store, will share their experience on D2C brand building, customer love and profitability.

In sum, the event is bringing together policymakers, unicorn founders, institutional investors, and early-stage entrepreneurs in a rare confluence — not just to celebrate the ecosystem, but to confront the hard questions about capital, inclusion, regulation, and growth as India builds towards Startup India @ 2047. [View the complete agenda here]

Why You Should Attend Startup Mahakumbh 

As India looks to cement its ambition of becoming a developed economy by 2047, forums like Startup Mahakumbh provide a timely checkpoint for the ecosystem. Beyond showcasing innovation, the event brings together key stakeholders — from policymakers and unicorn founders to early-stage entrepreneurs — to examine the deeper shifts underway in entrepreneurship, capital, and inclusion.

With a growing focus on public-private partnerships (PPPs), inclusion, and regional innovation, the event offers more than just panels and pavilions. It’s a live testbed for ideas — where entrepreneurs can connect with decision-makers, contribute to policy dialogues, and forge partnerships that go beyond the event itself.

The inaugural edition of the event showcased the vibrancy of India’s startup ecosystem and saw participation from founders of top unicorns, incubators and investors. With its focus on regional inclusive and sustainable growth, the latest edition of Startup Mahakumbh is poised to be a pivotal event in shaping India’s entrepreneurial landscape and reinforcing its position as a global epicentre of innovation.

The post Startup Mahakumbh: From Speakers To Sessions, Here’s Everything You Need To Know appeared first on Inc42 Media.

The gastronomic Indian hardly bothered about planning the meal or setting the diet. Seasonality and convenience ruled the kitchen in any Indian household until the internet opened the floodgates of information. The Indian kitchen has transformed ever since with health, diet and fitness becoming a rage that couldn’t be shrugged off any longer. 

Today, we are a lot more aware of what we eat and how it affects our bodies.

Yet, seven out of 10 people in urban India suffer from digestive issues, blame it on the increasing exposure to processed and packaged food and fast food that take a toll on the gut, causing acidity, bloating, and even long-term digestive disorders. 

This has also been spiced up by a surge in per capita income to INR 1.88 Lakh (around $2,500) in 2024 from INR 1.69 Lakh a year ago, with foods claiming a 47% slice of the INR 6,996 monthly consumption pie of an urban Indian, according to the Press Information Bureau.  

Startup Mahakumbh cannot ignore such a reality staring at the home of the world’s largest populace. 

As Bharat Mandapam gears up to host one of the world’s biggest showcase of innovation from April 3 to 5, health and wellness innovators are expected to turn up with their solutions crafted towards a healthier India and aimed at a share of the country’s $156 Bn health and wellness market that’s expected to reach $256.9 Bn by 2033.

Ahead of Startup Mahakumbh, Inc42 was joined by Keshav Biyani, who cofounded The Good Bug, for a discussion on India’s probiotic market, the significance of wellness brands, and how platforms like Startup Mahakumbh are emerging as massive enablers for the world’s third-largest startup ecosystem. 

Here are the edited excerpts from the interview…

Inc42: How has your experience in traditional retail influenced your strategy in the gut health space?

Keshav Biyani: The fundamentals of brand building remain the same, but the medium has evolved. In traditional retail, distribution and mass communication were key drivers. In consumer health, credibility is everything, working closely with doctors, healthcare professionals and microbiome scientists has been critical.

Building a category from scratch required assembling the right research-backed formulas, securing robust supply chains and shifting how we communicate health solutions to consumers. The biggest shift was moving from traditional marketing to community-driven education, empowering people with knowledge about gut health and why it matters.

Inc42: How would you sum up some of the biggest challenges and key insights that shaped The Good Bug’s startup journey?

Keshav Biyani: My seven years of experience at Future Group taught me how important it is to stay close to the consumer, understand their needs, track the consumption trends and anticipate market demands before they go mainstream. 

One clear insight was that people were not merely looking for temporary relief from issues like bloating, indigestion, and obesity, they wanted long-term solutions. We pinned down on gut health and it turned out to be a game-changer. 

Pioneering a new category comes with its own set of challenges. Educating consumers, building awareness around gut microbiome science and shifting mindsets from symptomatic treatments to root-cause solutions take time. We are constantly innovating how we communicate these benefits – through content, packaging, and collaborations with experts to accelerate this shift.

Inc42: How does The Good Bug ensure scientific validation while scaling at a rapid pace? 

Keshav Biyani: Science is at the heart of everything we do. Every formulation undergoes rigorous R&D, drawing from clinical data, scientific literature, dosage studies and efficacy research. We have built a strong scientific advisory board of doctors and researchers to validate our approach.

Beyond that, we have taken a pharma-grade approach, investing in large-scale clinical trials for our key products. Our goal is to make gut health solutions effective as well as accessible. This commitment to scientific rigor ensures that while we scale, we remain a trusted, credible brand in the long run.

Inc42: How do you think events like Startup Mahakumbh strengthen the connection between scientific research and innovation for Indian startups?

Keshav Biyani: Bringing the entire system at one place creates invaluable opportunities. Scientific research, policy discussions and entrepreneurial innovation rarely happen in the same room. Events like Startup Mahakumbh help bridge that gap, allowing startups to connect with researchers, regulators and industry experts to drive meaningful collaboration.

Our goal is to encourage partnerships between startups and research institutions, ensuring that health innovation in India is backed by strong clinical evidence. This synergy between science and entrepreneurship will be key to unlocking the next wave of functional wellness solutions.

Inc42: The Indian probiotics market is projected to grow from INR 260 Cr in 2021 to INR 770 Cr by 2027. With growing competition from pharma giants and global brands, how does The Good Bug retain its edge?

Keshav Biyani: A growing market attracts competition and that is a good thing as it helps drive education and awareness, which ultimately benefits the category. The demand for gut health solutions is vast and we are focused on solving key health problems with a differentiated, science-backed approach.

Beyond clinical validation, our edge lies in three aspects. First, personalisation. Our formulations are tailored for the Indian microbiome, taking into account dietary habits and gut health challenges unique to our population.

Second, accessibility. We make high-efficacy gut health solutions convenient and easy to integrate into daily life, whether through probiotics, prebiotics, or functional foods. Third is innovation. We are constantly exploring new product formats and delivery mechanisms, ensuring that our solutions remain at the cutting edge of gut health science.

By combining deep research with real-world usability, we continue to build a brand that people trust.

Inc42: As a member of the Startup Mahakumbh organising committee, how do you think the event can support health and wellness startups?

Keshav Biyani: Startup Mahakumbh provides a unique platform that brings together government bodies, policymakers and industry leaders. This convergence is crucial for startups from any sector. It helps foster regulatory clarity, drive industry-wide education, and create a conducive environment where innovation and compliance go hand-in-hand.

At the event, we aim to highlight the need for science-backed claims, ethical branding and better regulatory pathways for functional health products. Platforms like these will help shape the future of health and wellness in India.

Inc42: What regulatory clarity do you believe is most critical for functional wellness brands in India?

Keshav Biyani: For any brand addressing health concerns, clinical trials must be the gold standard. Regulatory frameworks should allow label claims based on company-led clinical trials, ensuring that consumers receive truthful, evidence-based information. 

Ethical claims and transparency should be the industry norm, preventing exaggerated or misleading health promises.

The post Startup Mahakumbh Can Catalyse India’s Health Innovation Boom: The Good Bug’s Keshav Biyani appeared first on Inc42 Media.

When the government rolled out its e-marketplace for mandatory online procurement of goods and services in 2016, the digital waves had just started making ripples on the Indian shores. Few could predict the ripples to turn into major waves and the Government e Marketplace (GeM) to become a powerhouse. 

From saving more than INR 1.5 Lakh Cr in the public exchequer to cutting through the red tape, dismantling intermediaries, and increasing transparency, GeM has emerged as a crucial cornerstone for India’s digitally enabled good governance policy. 

Startups have already secured over INR 37K Cr in business through the GeM portal, and the marketplace is now aiming to onboard more than 1 Lakh DPIIT-registered startups. 

As part of this push, GeM is gearing up for a key presence at Startup Mahakumbh — scheduled from April 3–5 at Bharat Mandapam in New Delhi. The event is expected to bring together 3,000+ startups and over 50,000 business visitors from across the globe, with a strong focus on sector-specific growth, public-private collaboration, and innovation beyond metro cities. 

To support this effort, GeM will set up a 150 sq. mt. pavilion at the event to onboard startups in real-time, giving them fast-track access to India’s largest public procurement ecosystem.

Inc42 caught up with Ajay Bhadoo, the GeM chief executive discussed various opportunities the platform is creating for the startup ecosystem, the impact of digitalisation of public procurement processes, and the cost reduction and efficiency strategies the government is adopting. The 1999-batch IAS officer with over two decades of experience in policy formulation and implementation across several sectors seemed upbeat about the prospects of the online marketplace.

Here are the edited excerpts from the conversation…

Inc42: The GeM is increasingly engaging with startups and MSMEs. How do you ensure that the procurement framework keeps pace with the innovation these businesses bring, particularly in emerging sectors?

Ajay Bhadoo: Aligning with its vision of inclusive socio-economic growth, the GeM has implemented a unique initiative, called Startup Runway, to help disruptive startups find the right market fit in public procurement. Launched in 2019, Startup Runway is a customised solution to improve the visibility of those innovative startups whose ideas do not fit into any of the existing product or service categories listed on the GeM.

By offering a dedicated storefront listing to DPIIT-registered startups under 14 globally recognised and nationally relevant sub-sectors, Startup Runway widens the visibility of such startups, thereby ensuring that these innovations reach the right buyer from the government.

The GeM is committed to creating a level playing field and an affirmative ground for the world’s third-largest startup ecosystem and MSEs to participate in India’s growth story. 

MSEs account for 38% of the overall gross merchandise value (GMV) transacted on the GeM. Offering a tech-powered ecosystem for public procurement, we are empowering homegrown businesses, including startups, MSEs, and women-led enterprises, to sell directly to lakhs of buyers in the government.

Inc42: The GeM has been a key pillar of India’s digital governance push. How do you see its evolving role in transforming public procurement at scale?

Ajay Bhadoo: GeM is kind of a startup experiment of the government. It clocked INR 422 Cr in GMV in FY16, and we may close FY25 with a GMV of over INR 5.3 Lakh Cr. 

Through end-to-end digitalisation and automation of each touchpoint in public procurement processes, the GeM has reduced the turnaround time in the award and delivery of government tenders. The large pool of verified vendors has ensured competitive pricing, resulting in at least 10% savings in public procurement costs. 

We have democratised business opportunities by using the end-to-end digital infrastructure, enabling pan-India sellers and service providers to conduct business directly with over 1.6 Lakh government buyers – from anywhere and at any time. 

The GeM’s initiatives like Startup Runway & Womaniya, which is another storefront for exclusive listing of product catalogues by women-led enterprises, have ensured that underserved seller groups get equal opportunities in conducting business with the government.

With over 11,000 product categories and 320-plus service categories, the GeM ecosystem is ever-expanding. More than 23 Lakh sellers and service providers have onboarded the GeM portal. Apart from the central and state governments, local-level government bodies like panchayats and cooperatives too have come into the GeM buyer ecosystem. Nearly 38% of the order value transacted on the GeM has been fulfilled by MSEs. 

Startups have secured business of over INR 37K Cr through the GeM platform. These numbers testify to our undeterred commitment to building an inclusive public procurement marketplace.

Inc42: How does GeM plan to leverage AI and other emerging technologies to improve its services and user experience?

Ajay Bhadoo: The GeM is continuously evolving to offer its stakeholders a tech-powered robust infrastructure which is easy to navigate while ensuring utmost security.

We recently migrated to the Amazon Web Services (AWS) cloud, marking India’s largest data migration activity. Migration of the GeM’s cloud infrastructure to AWS is expected to streamline procurement for buyers by offering efficient modes, rich product or service listings, price comparisons, and transparent contract management. 

Sellers will also benefit from greater visibility, access to government departments and PSUs, consistent purchase procedures, faster payments, and tools to categorise and showcase their offerings effectively. 

We are also working on creating a new, more digitised and AI-enabled platform with focus on automating the service desk and improving data analytics and dashboarding capabilities.

Our GeMAI – a virtual chatbot powered by AI and ML – provides information on the GeM but can also be used through voice command functionality in 8 languages integrated into the portal. In addition to resolving queries, the GeMAI chatbot is also now capable of issuing and tracking tickets. 

The GeM is using future-forward technologies like AI and ML to empower its stakeholders in making data-backed decisions, driving its core pillars of efficiency, transparency and inclusivity in public procurement. 

Inc42: How do you think GeM would contribute to India’s vision of a $5 Tn economy, especially in enabling digital-first governance and promoting inclusive growth?

Ajay Bhadoo: The transformation of the nation into a digitally empowered society and knowledge economy has positioned India as a global powerhouse in the digital landscape. The GeM stands at the forefront of this revolution.

We have seen a 100% year-on-year (YoY) growth through the last three fiscal years and we hope to close FY25 with a record GMV of over INR 5 Lakh Cr. The last three years have been especially ambitious, with the platform exemplifying sustained growth across all parameters. The number of orders placed daily on the GeM has more than doubled since FY21. The number of product and service categories has grown over 1.5 times in this period. 

The magnitude of procurement carried out on the GeM platform is likely to catapult it as the world’s largest public procurement portal in the near future. 

The wide variety of procurement modes and competitive e-bidding processes on the GeM have enabled government buyers to buy the right quantity at the right price, resulting in potential savings of at least 10% on their procurement plans. Imagine the spill-over welfare effect of aggregate estimated savings of over INR 1.15 Lakh Cr that the GeM portal has brought about in the last eight years. 

In a major relief to small enterprises, the GeM has also significantly reduced its transaction charges recently. Orders exceeding INR 10 Lakh will incur lower transaction charges of 0.30%, capped at a maximum of INR 3 Lakh – a significant decrease from the previous INR 72.50 Lakh. These changes have translated to estimated savings of 33% to 96% for certain order sizes. 

Inc42: Startup Mahakumbh is just a few days away. As part of the organising committee, how does GeM see this platform aiding the government’s larger efforts to promote innovation? 

Ajay Bhadoo: Startup Mahakumbh has emerged as a key catalyst in driving India’s growth towards atmanirbharta (self-reliance). It provides a unique platform for startups across the country to bring their innovation to the forefront and widen their visibility to the relevant audience. 

Sector-specific panel discussions at the thematic pavilions enable participants to gain valuable insights from industry stalwarts. By offering B2B, B2C and B2G opportunities to participating entrepreneurs under one roof, Startup Mahakumbh has turned into a vibrant hub for emerging businesses. The wide network of organisers further strengthens private-public partnership in driving India’s growth story towards a Viksit Bharat.

This year, Startup Mahakumbh will offer an opportunity for the participants to be a part of the GeM through its elevated outreach programme. We have set up a 150 Sq Mt pavilion to facilitate on-the-spot onboarding of DPIIT-registered startups. 

Senior GeM officials will also be present throughout the three-day event for interactions with the budding startup community. 

Inc42: Do you think Startup Mahakumbh is evolving into a formal pipeline for procurement, pilot projects, and long-term partnerships between startups and government bodies? 

Ajay Bhadoo: In just one year, Startup Mahakumbh has gained recognition as the world’s biggest showcase of innovation. As the presenting partner of Startup Mahakumbh, the GeM is excited to leverage this exceptional opportunity to further its goal of onboarding 1 Lakh DPIIT-registered startups onto its portal.

Our aim is to simplify the onboarding on the GeM for all the 3000-plus startups. Our team will be present at the GeM Pavilion in Hall 5 at Startup Mahakumbh to provide end-to-end onboarding support to them. 

Professional photoshoot and product cataloguing facility will be available to the onboarded startups completely free of cost so that they can kick off their journey on the GeM without any hassle. The GeM Pavilion will serve as an open platform for these startups to interact with select government buyers, further streamlining their entry into India’s largest e-marketplace for government buyers. 

The visitors can also interact with our virtual chatbot – GeMAI – and explore its various features, like multilingual voice command functionality and its ability to issue and track tickets.

The post Startup Mahakumbh Is A Golden Bridge For Startups To Connect With Govt: Ajay Bhadoo Of GeM appeared first on Inc42 Media.

As India’s startup ecosystem matures and expands into Tier II and Tier III cities, the focus is shifting towards capital accessibility, founder support, and policy-backed initiatives that can drive the next phase of growth. At the centre of this shift is the government’s INR 10K Cr Fund of Funds for Startups (FFS), managed by Small Industries Development Bank of India (SIDBI), which has channelled investments into more than 1,200 startups through 153 alternative investment funds (AIFs).

The bank is also working closely with incubators, academic institutions, and state governments to push startup activity in underserved markets — a shift that comes as early stage capital becomes more selective post-2022.

Now, with Startup Mahakumbh — scheduled from April 3–5 at Bharat Mandapam in New Delhi, SIDBI is stepping into a larger convening role. The event is expected to bring together thousands of startups, investors, and government stakeholders, with a strong focus on sector-specific growth, public-private collaboration, and innovation from Tier II and III cities.

In an interaction with Inc42, SIDBI CMD Manoj Mittal explains how the bank is refining its startup playbook, what the next phase of capital deployment could look like, and why events like Startup Mahakumbh matter in India’s current funding environment.

Here are the edited excerpts from the conversation…

Inc42: What are some of the key outcomes of the Fund of Funds initiative for startups and how does SIDBI plan to scale its impact in the coming years?

Manoj Mittal: The government’s Fund of Funds for Startups (FFS) initiative has mobilised around INR 92K Cr investments so far by investing in 153 AIFs, which created a multiplier effect and ensured sustained capital availability for startups.

The fund supports over 1,200 startups across sectors, enabling them to grow their businesses and innovate. FFS facilitates the formation of around 22 unicorns, while some soonicorns supported by FFS will soon turn unicorns.

By funding startups, the fund has also become an enabler in job creation and economic growth, particularly in new industries. It has drawn in local investors, making us less reliant on overseas capital, and helped develop the Indian venture capital environment by supporting fund managers and nurturing industry-best practices.

We will work on expanding the FFS ambit to early-stage startups in Tier II and Tier III cities, mobilising sectoral funds focussed on national priorities like sustainability and deep tech, encouraging fund managers with strong MSME linkages, and helping boost diversity and inclusion in entrepreneurship. 

Inc42: How are you trying to foster innovation and entrepreneurship in Tier II and III cities?

Manoj Mittal: Since FFS was rolled out, 181 startups from beyond Tier I cities have been funded with around INR 2,100 Cr. As a result, deal activity across sectors beyond Tier I cities picked up substantially. We have taken a few steps to bring about a similar change across the country.

First, collaboration with the state governments. SIDBI has collaborated with a number of states to set up exclusive startup-focussed funds. 

Second, launching awareness programmes. We have been working on outreach programmes for development of the entrepreneurial ecosystem in Tier I and III cities. Such initiatives help potential entrepreneurs and startups be informed about opportunities and support systems.

Third, tie-ups with academic institutions like IITs, NITs, and IIMs, as well as leading fund managers, to develop mentorship and funding avenues. 

Inc42: How is SIDBI collaborating with various stakeholders in the startup ecosystem to create a more supportive environment for entrepreneurs, especially the first-time entrepreneurs?

Manoj Mittal: We have set up a host of funds since 1999 to invest in startups. SIDBI Venture Capital Ltd (SVCL), for instance, has operated several contra-theme funds (funds that invest in underperforming stocks for long term gains) since 1999. It was among the first to set up an IT-dedicated fund (NFSIT), investing in firms like BillDesk and Manthan when the industry’s attention was on IT and infrastructure. SIDBI also launched the SME Growth Fund for manufacturing ((to support manufacturing SMEs) in 2004, and a first-of-its-kind social venture fund. 

SVCL is investing out of an export-oriented fund (Ubharte Sitaare), a deep tech-focussed fund (Atmanirbhar Startup Fund), and several state-focussed funds for startups in Assam and Tripura, where the ecosystem is being built. I must mention that IN-SPACe recently nominated SVCL to manage an INR 1,000 Cr fund for the space tech industry in India.

SIDBI is also focussed on non-financial interventions. It runs mentorship programmes by experts to guide entrepreneurs.

Such initiatives have led a number of states to launch their Fund of Funds schemes, with SIDBI mandated to manage them in Uttar Pradesh, Odisha, Bihar, and Maharashtra.

We have also facilitated early stage support by partnering with incubators to provide mentorship, resources, and access to capital. A seed-fund corpus of INR 121 Cr has been sanctioned to 16 incubators and an additional INR 38 Cr to eight more for equity support to seed-stage startups, with some of them in the defence space.

Inc42: How do you see the impact of events like Startup Mahakumbh on the ecosystem?

Manoj Mittal: Events like these are catalytic enablers for the startup ecosystem. One of the key strengths of Startup Mahakumbh is that it gives startups a platform to showcase their products and services to global decision-makers — offering exposure not just to investors, but also to potential partners, enablers, and customers.

I believe the networking opportunity that it offers to new businesses to associate with mentors, experts, investors, and policymakers is the true highlight of the event. It amplifies the spirit of entrepreneurship across the nation.

Inc42: Which specific track or feature of Startup Mahakumbh will be the most impactful for MSMEs and early stage startups?

Manoj Mittal: For startups and MSMEs in their early stages, several tracks and features of Startup Mahakumbh stand out in catalysing growth. 

Investor Connect and Networking Sessions, for example, provide a platform for startups to pitch directly to potential investors, partners, and business enablers, thereby opening doors for funding and collaboration. 

Mentorship and guidance workshops, on the other hand, provide early stage entrepreneurs with clear direction and hands-on tips from seasoned founders and industry experts for setting up and expanding a business successfully.

Technology showcases, another key highlight of the event, enables startups to identify and adopt emerging technologies, while sectoral panels and discussions offer sector-specific insights into priority sectors.

The post Startup Mahakumbh To Amplify Collaboration Between State & Startup Ecosystems: SIDBI’s Manoj Mittal appeared first on Inc42 Media.

What’s next after OpenAI and DeepSeek? Now that these tech startups have hit the innovation sweet spot, the ChatGPT parent is reportedly eyeing a funding round that could value it at $340 Bn, more than 2x its current valuation of $157 Bn, while the Chinese disruptor is mulling outside funding for the first time. Presumably, they will continue raising huge sums to grow fast and innovate. 

However, not all AI-driven innovation stories require such massive investments. A new breed of automation startups is now working on AI tools and models to help enterprises ditch time-consuming and effort-intensive manual processes. Among these is a growing cohort who has moved beyond typical big data analytics and traditional AI-ML systems, focussing instead on GenAI to offer tailored solutions and personalised experiences based on enhanced decision-making. 

The reason? AI has already gained momentum in four key sectors – BFSI, CPG and retail, healthcare, and industrials & automotive – and their AI adoption will likely account for 60% of India’s potential GVA worth $500 Bn. In fact, the evolution of India’s techade is firmly linked to world-leading AI adoption across industries, especially those struggling to extract insights from large datasets, handle cumbersome documentation and automate repetitive tasks.    

Given the rising requirement for enterprise AI solutions to spur commercial success, Udaipur-based 9AI is developing a wide range of analytics and automation tools. “Many companies use off-the-shelf automation tools, as few innovators have genuinely unlocked the capabilities of advanced, generative AI to drive transformational change. This, in turn, stifles growth, raises costs and prevents businesses from reaching their full potential,” said Garvit Chouhan, who teamed up with college mates Aaditya Saini and Kaustub Pandey to set up the bootstrapped venture. 

The startup is rooted in a shared belief that businesses should be able to operate more efficiently and with greater insight by leveraging AI to drive decision-making and innovation. Rather than creating point solutions for specific tasks, the founders designed and developed an AI platform capable of automating entire processes. Furthermore, these AI solutions can be built into industry-specific workflows with minimal disruption. 

9AI combines its deeptech R&D with AI and agile operational practices on its SaaS platform to automate complex workflows, improve decision-making accuracy and reduce processing times and human errors, driving down costs all the time.

It has three distinct revenue models to cater to businesses of all sizes. The first is an outsourcing model, including a one-time development fee with annual maintenance. The second is an agency model involving a monthly development fee and yearly maintenance. Finally, there is a partnership model, where the monthly development fee is significantly lower in exchange for product equity or revenue sharing.

Chouhan says the partnership model contributes 40% of the startup’s revenue. “For AI to succeed truly, it has to be tailored to the needs of each business. That’s why we offer these flexible revenue models. We want to partner with our clients to help them scale rather than deliver a one-size-fits-all solution.”      

Backed by iStart Rajasthan, a flagship initiative of the state government for supporting innovative startups, 9AI clocked INR 5 Cr in revenue in FY24 and expects a 4-6x jump in the current financial year.

From Hackathons To Real-World Impact: How 9AI Is Transforming Industries

The founders met during their undergraduate days at the College of Technology and Engineering (CTAE), Udaipur, and bonded over their passion for technology and deep interest in solving operational challenges. They participated in CTAE hackathons and worked on a series of side projects such as developing a CRM SaaS platform to manage ecommerce after-sales services. Chouhan later joined IIT-Madras to specialise in data science and programming and participated in an entrepreneurship programme at Y Combinator.   

The trio’s initial foray into technology development to resolve real-time business challenges paved the path for a broader platform, and 9AI was launched with Chouhan at the helm. “Our technical USP lies in our comprehensive integration of large language models [LLMs] and advanced data pipelines that ‘understand’ complex documents and zero in on the action required. Our operational USP is our ability to rapidly integrate newly developed AI solutions into existing enterprise processes and deploy them as soon as possible,” the CEO said.

Here is a quick look at 9AI tools and use cases across industries and pilot projects.

Enterprise solutions at scale: 9AI develops business automation tools tailored to address specific challenges for various industries, from insurance and finance to education, retail and more. To begin with, it has automated claims processing for a public sector insurer using AI-driven triage, including document analysis, claim assessment and categorisation based on criticality and complexity. The outcome: Processing takes 70% less time, and there is greater accuracy overall, optimising the claims handling workflow and enhancing the customer experience.

In mortgage finance, it has automated document verification and loan processing, slashing processing time by 60% and minimising errors. It has also developed a cutting-edge assessment tool to evaluate hundreds of subjective test responses at a fraction of the time and cost consumed by dozens of human evaluators. Additionally, 9AI has built intelligent search and personalised recommendation engines that boost engagement and drive conversions by delivering relevant content to the right audience.

AI agents for multi-channel services: As Nvidia CEO Jensen Huang pointed out at CES 2025, the world is entering the age of agentic AI, and the shift is worth a multi-trillion-dollar opportunity. Unlike GenAI, which creates content and tools, AI agents carry out a variety of tasks and manage routine processes across industries while making decisions based on real-time data. (Think of a customer-facing chatbot on a retail or a banking site: We know their critical importance.) 

In sync with the latest industry trend, 9AI makes custom-built AI agents for advanced automation and intelligent decision-making. These AI agents can be integrated with multiple communication channels, including email, call, WhatsApp and website/app, ensuring consistent and intelligent interactions with minimum human interventions.

Here, the retail sector benefits most. For instance, a CRM-lead generation bot enables up to a 30% rise in conversion. Fitted with existing systems, it can enhance sales workflows, driving efficiency and revenue.

LLM fine-tuning: The startup incorporates business-specific data and optimises existing language models to deliver contextually relevant outputs, helping businesses derive insights from vast datasets.

Visual data analysis and document processing: 9AI provides various image processing solutions such as object detection, similarity analysis and segmentation. Additionally, it can generate images based on user-defined inputs. It also offers automated document parsing, precise data extraction and intelligent classification to improve workflows and enhance operational efficiency.

Data solutions & ML training: The startup creates robust data pipelines to ensure reliable data analysis and provides comprehensive training modules for machine learning. This means 9AI has in place an end-to-end data integration ecosystem that covers everything from data ingestion, porting, processing, and model training to deployment and monitoring. It helps businesses optimise their AI workflows while data is managed seamlessly and models perform at their best, all while providing the flexibility to scale as requirements evolve.    

Open-source integration: 9AI also deploys and integrates open-source AI models such as DeepSeek, Qwen, Llama and others, offering businesses a dynamic blend of flexibility and cost-efficiency.    

iStart Rajasthan Provided The Right Ecosystem To Drive 9AI’s Growth

In the fast-evolving world of AI, early support can make all the difference between an idea that fades and one that scales. For 9AI, a rising player in this space, that critical backing came from iStart Rajasthan, the state government’s flagship initiative. It is no run-of-the-mill incubator, providing instead essential infrastructure, expert mentorship and valuable market access to sharpen the startup’s vision and accelerate its growth.

At its state-of-the-art Udaipur facility, iStart offered a collaborative and dynamic work environment equipped with modern labs, high-speed internet and essential office resources, giving the 9AI team all the vital tools to refine its tech offerings. But the real impact extended beyond infrastructure. Its deep network of industry veterans and domain experts allowed the startup to connect with mentors who helped shape its business model and go-to-market strategy.

The initiative also played a key role in business development, enabling 9AI to validate its solutions in real-world settings as it worked with government agencies and private enterprises. As a result, the number of pilots grew, and the new players gained rapid traction in the competitive industry. 

“I would say iStart bridges the gaps between ideation, innovation, execution and commercialisation. Its early-stage support laid the groundwork for scalable development and quick deployment of AI solutions. The ecosystem has moulded our strategy, enhanced our product quality and given us the confidence to scale our solutions,” said Chouhan.

What’s Next For 9AI Amid India’s Artificial Intelligence Boom

The AI and GenAI models and their applications will continue to grow as enterprise adoption has kicked in at scale. Globally, the intelligent process automation market (which covers all sorts of business and production-related automated systems) is estimated to reach $67.7 Bn by 2034 from $17.3 Bn in 2024, clocking a CAGR of 14.6%. India is set to mirror the global trend, given that 70% of GenAI startups are now catering to enterprises alone, and businesses of all sizes are keen to embrace the AI age motto – automation anywhere for greater efficiency, fewer costs and better earnings. 

The current market dynamics have opened a massive opportunity for tech enablers like 9AI and its peers. They can soon build an automation-led digital transformation ecosystem driven by AI-powered operations, insights and decision-making skills. Add to that the global resurgence of venture capital funding in the AI space – $100 Bn in 2024, more than 80% increase from $55.6 Bn in the previous year – and all seems hunky-dory for enterprise-first GenAI startups.    

In tune with the evolving scenario, 9AI will focus on breakthrough innovations in GenAI and deeptech to cater to diverse sectors and refine its existing solutions based on feedback. It will expand its core team and strengthen its strategic partnerships to validate new use cases and drive growth. It is also planning to set up a top-notch AI research facility.

In the long term, 9AI eyes overseas expansion and global partnerships with technology firms and research institutions to develop advanced model architectures and contribute to the evolution of Artificial General Intelligence. (For context, AGI is still a hypothetical stage where AI will have human-like intelligence and capabilities.)

Despite the increasing adoption of GenAI, the founding team at 9AI is fully aware that industry trends and investment strategies may undergo a paradigm shift in the current year. Until now, billions of dollars have been spent on foundation models as VCs are willing to bet big on original research and innovation. Now that the base has been built, thanks to OpenAI, DeepSeek and the like, investors could be more eager to fund enterprise tools and applications built on existing models and LLMs for sustainable growth and immediate profitability. Essentially, vertical AI may soon emerge as a more attractive investment choice, contrary to the horizontal approach, which became popular initially.

It is difficult to predict future trends at this point, but 9AI is working smart, ensuring that no loopholes are left unattended. It has started offering industry-specific automation solutions from Day one, focussing on precision and targeting document-heavy, manual workflows that waste time and resources and drive costs. However, its R&D for deeptech innovations and niche models are, by no means, discarded. Yes, core research will call for substantial capital, but the outcome, as transformational as ChatGPT, will continue to attract big investors.

Meanwhile, 9AI must cater to evolving enterprise needs while scaling effectively as AI adoption continues to reshape industries at a fast clip. With India positioning itself as a global AI hub, the coming years will test how well the company can adapt, innovate and carve its niche.

The post How 9AI Is Automating Workflows For Indian Enterprises appeared first on Inc42 Media.

D2C beauty and personal care brand Antithesis has raised INR 5 Cr (about $582K) in its pre-seed round co-led by Rukam Capital and V3 Ventures.

The D2C brand plans to use the funds to fuel its growth plans, drive product innovation, market expansion, and strengthen distribution channels. 

Founded by former Good Capital partner Aparna Saxena, Antithesis aims to revolutionise India’s beauty and personal care market. Prior to that, she worked with the Bharat Founders Fund.

The idea of the startup was born from Saxena’s observation that consumers, particularly women, are overwhelmed by complex routines and an array of products that often fail to deliver meaningful results. 

With the aim of filling this gap, Antithesis has adopted a data-driven approach for product development, with the thesis “the luxury of less”. 

The D2C brand is looking to grab a big share in the country’s beauty and personal care market, which is rapidly growing on the back of rising disposable incomes and a large population of young people, by meeting the evolving needs of consumers.

However, it will have to compete with the likes of Nykaa, Conscious Chemist, Minimalist, Pilgrim, among others.

India’s beauty and personal care segment is expected to clock a 28% CAGR and become a $28 Bn market opportunity by 2030.

Rukam Capital Strengthens Its Consumer Brands Portfolio

With the investment, Rukam Capital has added another consumer brand to its strong portfolio. Founded by Archana Jahagirdar, the Delhi-based early-stage venture capital firm invests in consumer brands with exceptional growth potential. 

It counts startups like Beca, Sleepy Owl, GO DESi, and The Indus Valley in its portfolio.

Recently, the Department of Promotion of Industry and Internal Trade (DPIIT) also partnered with Rukam Capital and Bootstrap Incubation and Advisory Foundation (BIAF). The VC firm and the BIAF will develop programmes to fuel the growth of product startups, innovators and entrepreneurs across the country. 

At the heart of this push is the growing D2C space of the country, which is projected to become a $300 Bn market opportunity by 2030.

The post Beauty 3.0 Brand Antithesis Bags INR 5 Cr In Funding From Rukam, V3 Ventures appeared first on Inc42 Media.

The Rajasthan government is all set to host ‘Rajasthan IT Day 2025’ on March 27-28, 2025, at the Rajasthan International Centre in Jaipur to showcase the state’s burgeoning startup ecosystem.

The event aims to highlight the state’s commitment to support innovation and entrepreneurship. It is pertinent to note that more than 5,500 startups are registered with the state government’s flagship initiative — iStart.

The Rajasthan IT Day 2025 will bring together over 3,000 attendees, including industry leaders, startup CEOs, investors, government officials, and celebrities. It will provide the attendees with opportunities for networking, knowledge sharing, and growth.

The event will host Indian startup stalwarts, including Amit Ramani, CEO and founder of Awfis, Mohit Yadav, cofounder of Minimalist, Ankush Grover, cofounder of Rebel Foods, Sameer Jain, MD of Primus Partners, Varaprashad, founder and creative director of Great Gun Movies, Harshita Gupta, founder of Chikankari Hues, Arpan Gaglani, cofounder & MD of Philm CGI, Priyanka Kanwar, founder of Falcon, Bejoy Arputraj, founder of Phantom-FX, Arvind Jodha, founder of Arvind Studios, Shilpi Advani, founder of TOSS, Sriniwas Sribhakpa, CEO of VedAtma Animation Studios, and many others.

The speakers will engage in discussions and fireside chats on a wide range of topics, including navigating the startup ecosystem, decoding D2C success, empowering fintech startups, harnessing next-generation technology in AVGC-XR, and understanding the DPDP Act, among others. The event will also feature a series of masterclasses and workshops designed to equip participants with valuable insights and skills.

Chief minister Bhajan Lal Sharma will also address the gathering, highlighting the state’s role in driving the digital transformation and startup culture. The event will be inaugurated by Archana Singh, Secretary, Department of Information Technology And Communication.

Empowering Entrepreneurs & Shaping Rajasthan’s Digital Future

The event will host several sessions designed to spark innovation, drive collaboration, and provide input from industry leaders. 

Panel Discussions: Industry experts will lead discussions on the future of artificial intelligence (AI), fintech, sustainable technology and the growth of entrepreneurship in Rajasthan. These discussions will offer valuable insights into the latest trends and emerging opportunities. 

Pitch Battle: This session will give 20 selected school students and startup founders a chance to pitch their groundbreaking ideas to a panel of investors and government officials. It will provide an opportunity for entrepreneurs to gain exposure, secure funding, and receive mentorship from experienced professionals. 

Startup Bazaar: It will showcase around 25 product-based startups, offering attendees a chance to interact with investors and discover new technologies. It will serve as a platform for potential collaboration between startups, investors, and customers. 

Capacity-Building Workshops: The workshops will provide hands-on learning experience to over 500 participants. Topics like AI, coding, robotics, and cybersecurity will be covered. The workshops aim to equip attendees with skills essential for navigating the tech and startup world. 

Game Jam: Tech enthusiasts and gamers will get to explore the latest technologies in gaming. Virtual reality (VR) gaming, esports tournaments, and interactive setups will offer a thrilling experience for people of all ages and add an element of fun and innovation. 

Rajasthan Digital Cinema Showcase: This will feature the AVGC-Rajasthan Talent Showcase, celebrating the interaction of technology and storytelling. It will highlight digital cinema and creative works by Rajasthan-based filmmakers, showcasing the state’s growing film and creative industry. 

The Rajasthan IT Day 2025 will provide an inclusive platform for innovation, collaboration, and learning. By bringing together diverse stakeholders, the event aims to inspire young minds and create new opportunities for entrepreneurs. With a strong focus on technology and creativity, it promises to be an unforgettable experience for all attendees. 

The post Unlocking The Future: Rajasthan IT Day 2025 To Ignite Innovation, Drive Collaboration appeared first on Inc42 Media.

With over 1.61 Lakh registered startups and counting, India is rapidly emerging as a global innovation hub. 

To further solidify India’s booming startup economy, the Indian government is all set to host the second edition of Startup Mahakumbh — themed as ‘Startup India @ 2047. Focussed on unfolding the Bharat Story’ — the event aims to chart India’s entrepreneurial journey towards becoming a developed nation by 2047.

Scheduled from April 3 to 5 at Bharat Mandapam, New Delhi, this year’s edition builds on the momentum of the 2024 edition. The first edition attracted over 48,000 visitors and showcased innovations from across India. This year promises to be even bigger, with participation from over 3,000 startups, 1,000 investors and incubators, and more than 10,000 delegates from 50+ countries. 

The upcoming edition will also feature sector-specific pavilions which will focus on themes such as artificial intelligence (AI), fintech, agritech, and climate tech. With an expected attendance of over 50,000 business visitors, Startup Mahakumbh is poised to become a global epicentre for innovation and collaboration.

Innovation, Growth To Take The Centre Stage 

The second edition of Startup Mahakumbh is designed as a platform to engage founders, investors and ecosystem enablers across sectors. Here’s what attendees can expect from the upcoming edition:

1. A Networking Goldmine: With over 1,000 investors, incubators, and accelerators expected to attend, the event will provide startups with the chance to connect with potential collaborators, mentors, and service providers.
2. Global Exposure: The event will bring together delegates from over 50 countries, providing startups a platform to showcase their innovations on a global stage. This exposure can help founders break into new markets and establish international partnerships.
3. Access To Mentorship and Special Programmes: One of the highlights of Startup Mahakumbh will be the opportunity to interact with seasoned founders, industry leaders, and policymakers. Budding entrepreneurs seeking mentorship from industry veterans will be able to gather valuable insights on scaling businesses, navigating challenges, and leveraging emerging technologies from stalwarts such as Alok Mittal, Executive Chairman, Indifi Technologies, Chirag Gupta, Founder, 4700 BC, Dinesh Agarwal, Founder & CEO, IndiaMART InterMESH Limited, Kiran Chandra Kalluri, Partner, Dallas Venture Capital, among many others. Startup Mahakumbh shall also offer special programmes to empower startups and future entrepreneurs. The Startup MahaRathi Challenge, backed by DPIIT, provides funding and networking opportunities across 11 sectors, with grants up to INR 5 lakh. Masterclasses by global experts offer insights on business strategy, while B2B meetings facilitate partnerships. The Futurepreneurs Programme encourages student innovation with a INR 1 Cr prize pool. 
4. Insights Into Government Policies: Startup Mahakumbh will offer crucial insights into government policies, empowering entrepreneurs with knowledge to fuel their growth. The event will feature dedicated sessions illuminating the array of government resources available to startups, with experts guiding attendees on how to effectively leverage these opportunities. The unique platform will showcase startup initiatives from various state governments, ensuring representation for innovations from all corners of India, including underserved states. Entrepreneurs can engage in dynamic conversations with policymakers and government representatives, gaining first-hand knowledge about upcoming policies and regulatory changes.
5. Sector-Specific Pavilions: Startup Mahakumbh will host thematic pavilions dedicated to various industries like healthtech and biotech, defence and spacetech, gaming and sports tech, and more. These pavilions will feature exhibitions, panel discussions and masterclasses tailored to each sector.
6. Launch & Showcase Products to a Targeted Audience: Startups can unveil their latest innovations, receive feedback, and conduct live demonstrations to investors, industry leaders, and potential customers. This is an excellent platform to test new products, attract media attention, and gain credibility in the startup ecosystem.
7. Talent Acquisition: The event will serve as a hub for attracting top talent across industries. Founders and investors can meet skilled professionals who are eager to contribute to innovative ventures.
8. Startup MahaRathi Challenge: This high-stakes competition aims to identify India’s most promising startups across 10sectors and accelerate their growth journey. The challenge will offer INR 30 Cr in funding, mentorship from industry experts, and networking opportunities with global investors.
9. Exclusive Investor Roundtables & Corporate Partnerships: Engage in closed-door discussions with venture capitalists, angel investors, and corporate leaders. These B2B meetings are designed to connect startups with potential funders, strategic partners, and business mentors, helping them forge long-term collaborations.
10. 10. Get Inspired: Even if you’re in the process of setting up your startup, being in the midst of stalwarts of the entrepreneurial ecosystem, there will be multiple touchpoints for everyone to be inspired as the event is designed to accommodate startups of every scale.

By providing a platform for startups to thrive and collaborate globally, this event underscores India’s commitment to becoming a global leader in the arena of entrepreneurship.

Startup Mahakumbh is expected to cater to a range of participants — from early-stage founders to more established ventures — with sessions, exhibitions, and sector-focused interactions tailored to different needs and stages of growth.

Know more about Startup Mahakumbh!

The post From Global Exposure to Mentorship: How Startup Mahakumbh Aims To Fuel India’s Startup Economy appeared first on Inc42 Media.

The second edition of Startup Mahakumbh, the world’s largest startup event, is all set to take place from April 3 to 5, 2025, at Bharat Mandapam in New Delhi. Building on the success of the inaugural edition, this year’s event is themed ‘Startup India @ 2047 – Unfolding the Bharat Story’ and aims to empower entrepreneurs as the key drivers of innovation, economic growth, and self-reliance. 

Startup Mahakumbh is expected to bring together over 3,000+ startups, 1,000+ investors and delegations from more than  50+ countries, as well as policymakers and industry representatives. The event will facilitate discussions on entrepreneurship, investment, and business expansion.

The event is led by the Federation of Indian Chambers of Commerce & Industry (FICCI), with key organisers including the Associated Chambers of Commerce and Industry of India (ASSOCHAM), National Association of Software and Services Companies (NASSCOM), The Indus Entrepreneurs (TiE), the Indian Private Equity & Venture Capital Association (IVCA), and the Bootstrap Foundation. It is well-supported by Government e Marketplace (GeM), Small Industries Development Bank of India (sidbi), Export Credit Guarantee Corporation of India Limited (ECGC), the Department for Promotion of Industry and Internal Trade (DPIIT) and Startup India.

Startup Mahakumbh will feature thematic pavilions showcasing innovations in sectors such as AI, deeptech & cybersecurity; D2C; healthtech & biotech; agritech; fintech; gaming & sports tech; mobility; B2B, precision manufacturing, defence & spacetech; and climate tech. The event will also highlight regional entrepreneurship and business growth across India’s 788 districts.

Empowering The Startup Founders & Futurepreneurs

One of the most exciting aspects of Startup Mahakumbh 2025 is the ‘Special Programmes’, designed to provide startups with unparalleled opportunities for mentorship, funding, and networking.

Startup MahaRathi Challenge: Backed by the DPIIT, Startup MahaRathi Challenge seeks to identify and accelerate the most promising startups across 11 critical sectors. With a substantial funding pool of INR 30 Cr, the challenge will offer grants of up to INR 5 lakh to selected startups to fuel their growth and innovation.

Beyond financial assistance, the participants will gain national recognition and connect with over 100 investors, including venture capitalists, family offices, and ultra-high-net-worth individuals. 

The programme distinguishes itself by providing targeted mentorship from industry leaders and policy experts, with a special focus on supporting startups from underserved states and union territories.

Masterclasses: These intensive learning sessions will be led by global experts and industry veterans. Startups will gain actionable insights on topics such as business strategy, scaling operations, fundraising techniques, and market trends.

B2B Meetings: Curated business-to-business meetings will connect startups with investors, corporates, and potential partners. These high-impact interactions are designed to foster meaningful collaborations and strategic partnerships.

Futurepreneurs Programme: This initiative focuses on nurturing student innovators across India. Teams from 100 colleges will present AI-driven solutions to local challenges. The top 10 colleges will compete in the finals for INR 1 Cr prize pool, with winners receiving mentorship and funding opportunities.

Mentoring Zones: Sector-specific mentoring sessions by TiE will offer startups direct access to seasoned entrepreneurs and investors. Through interactive roundtable discussions, lasting up to 60 minutes each, participants will get an opportunity to refine their strategies for market success while addressing real-world challenges.

What’s More At Startup Mahakumbh?

In addition to the Special Programmes, Startup Mahakumbh will hold a number of other events and sessions to foster collaboration:

• Pitching Sessions: Startups to showcase their ideas directly to leading investors.
• Knowledge Tracks: Workshops on funding strategies, scaling businesses, and leveraging emerging technologies.
• Networking Zones: Dedicated spaces for entrepreneurs to connect with mentors and industry leaders.
• Startup Awards: Recognising high-impact startups across various sectors.

Know More About Startup Mahakumbh

The post From MahaRathi Challenge To Futurepreneurs Programme — How Startup Mahakumbh Is Driving Innovation & Growth appeared first on Inc42 Media.

Vineet didn’t just live in his dream. He lived his dream. 

The youth was doing his graduation in medical biotechnology from Galgotias University in Uttar Pradesh when he founded Biopractify. 

A college-goer rolling out a startup venture – the image was hard to conjure up even a few years back. But things have changed, and changed for good. The Indian startup ecosystem, which is the third largest in the world, has cradled many young innovators like Vineet Mittal over the years.

Vineet is transforming biotech education through skill development programmes, virtual labs, and interactive workshops and he gives the credit to GIC RISE, Galgotias University’s incubation unit, for helping his dream come true. 

Not just being an incubator at a young age, Vineet’s success reflects another rapidly evolving trend in the startup world – the founders or innovators are no longer products of premier institutes like IITs and IIMs. In fact, an Inc42 analysis shows that 60% of Indian soonicorn founders are not IIT graduates and nearly 77% do not come from IIMs.

This clearly indicates that brains behind startups are no longer exclusive to top-notch government institutes – private varsities are catching up fast by nurturing talented youngsters like Vineet. 

While mapping the emerging trend, Inc42 caught up with Dhruv Galgotia, chief executive officer of Galgotias University. He shared his views on embracing and promoting entrepreneurship right from the very start in a student’s journey. 

“To foster the creative brains, we changed ourselves,” he said. “It was essential to match steps with the fast-changing world of today’s youths.”

Galgotias University, according to him, changed the entire approach to classroom learning. “Today’s generation has a tough time sitting through hours of lectures, especially when they have a smartphone in hand. To solve this, we are changing the entire learning ecosystem from infrastructure to technical learning; we are making sure that students can truly experience what they learn in classes.” 

From its inception in 2015-16 with an initial enrolment of 1,590 students, the institute has experienced remarkable growth over a decade. By 2024-25, it had expanded its academic offerings to 351 programmes, culminating in a graduating batch of 5,089 students.

Galgotia believes that the INR 5.8 Lakh Cr higher education market in India needs to evolve in sync with what the new generation of students want. “Creativity dies in stagnation. Change is essential,” he said. 

Here are the edited excerpts from the conversation: 

Inc42: We see a boom in student-led startups in India. How is Galgotias University nurturing such young creators?

Dhruv Galgotia: I believe that student-led startups require an ecosystem that fosters ideas and innovation, and it is the responsibility of the institutions to build that ecosystem by enabling, supporting, and guiding the students. At Galgotias, we have over 135 registered startups because we have aligned the university with industry needs.

For example, we have India’s first iOS development centre, powered by Apple and Infosys, where industry experts train and mentor students to help turn their vision into reality. This means that students are not just writing codes; they are developing ideas that are vetted by industry experts to keep them on track.

I am proud to say that by the end of this month, five iOS applications developed by our students will be launched. One of these apps, Sakhi, addresses menstrual health issues, another assists the visually impaired, and a third empowers individuals with hearing disabilities to experience music.

Many of the students developing these applications come from extremely humble backgrounds, and our affordable fee structure ensures that they receive world-class infrastructure and faculty support to achieve what they truly deserve.

Apart from that, we also have a centre of excellence by Wipro, a Samsung lab, an Intel lab for cyber security, and an HP AI Nvidia centre on campus, set up in collaboration with these organisations. Their experts visit our campus to present real-world problems for our students to solve — challenges they are likely to face once they step into the industry.

These labs also help corporations by providing trained manpower from the third year onwards. By the time the students reach their fourth year, they are equipped with the fundamental skills required by the industry. 

Inc42: You’ve invested in various advanced facilities like classrooms and active learning enabled with technologies like AI and ML. How do they contribute to the overall entrepreneurial ecosystem at Galgotias?

Dhruv Galgotia: Traditionally, in India, the education system and exam patterns promote rote learning, which hinders students’ creativity. 

Students constantly face the pressure of attendance, exams, assessments, or other criteria set by the universities. However, at Galgotias, we are changing this entire ecosystem – from infrastructure to technical learning – we are building a better experience for students.

In terms of infrastructure, we have moved away from the traditional bench system, which promotes the culture of ‘backbenchers’ and ‘lecture-ism’, to a cluster seating concept. This new approach promotes engagement, conversations, creativity, and sharing of ideas. Today, all classrooms at the university follow this cluster seating system. 

Instead of a single board in the classroom, we have 10 boards equally placed for students, increasing engagement and shifting from teacher-centric to student-centric learning. We also have touch-panel television sets that serve multiple purposes. For instance, if a faculty member needs to conduct a test, they can simply display a QR code on the screens, allowing students to take a live test using their smartphones. This allows teachers to receive real-time assessments of student’s learning progress and use that data for personalised learning.

We have integrated artificial intelligence (AI) to create individual learning paths for each student. This allows the faculty to assess performance, identify high achievers, and provide extra attention to those who need it. 

Apart from that, we have also invested approximately INR 300 Cr to build an Artificial Intelligence and Data Science Block which will be ready in the next few weeks. We are in talks with leading global tech companies for setting up labs for cybersecurity, machine learning, and robotics. 

It’s not just students. We are also training our faculty in active learning methods in collaboration with Nanyang Technological University, Singapore (NTU). A delegation from NTU visits us every two months to train our faculty in active learning techniques. We are undertaking this project under the supervision of Professor Richard James from the University of Madison Melbourne. These methods help us make our classrooms more engaging, collaborative, and dynamic, becoming the reason for brainstorming and interactive discussions.

Inc42: How is Galgotias University supporting young innovators through its incubation programme? Please tell us about the resources and opportunities. Also, do you have any ties with investors for the incubator? 

Dhruv Galgotia: Our Galgotias Incubation Centre for Research Innovation Startup & Entrepreneurs (GIC RISE) is a premier hardware-focused incubation centre that supports innovations across sectors. The primary aim of the incubator is to promote the culture of innovation on the campus, which it has been able to achieve successfully over the years. 

The incubator also has a co-working space, FAB Lab, clinical research lab, graphics lab, EV lab, and 3D printing facilities. It also has a centre of excellence (CoE) in the field of technology and artificial intelligence law, intellectual property law, and Intel Intelligent Systems Centre of Excellence (CoE). 

To date, GIC RISE has supported over 135 startups. Around 35 are still active and out of these more than 30 startups have a stable revenue stream with three making more than INR 1 Cr in revenue. 

To further support the innovation, we have conducted more than 120 events and training sessions along with over 10 startup challenges under the guidance of 35 mentors and 10 investor partners. We also have an advisory board consisting of experts from various industries who assist students with their visions and end products.  

Now, for the second part of your question, I think that startup funding has two aspects, first, we have a dedicated team at GIC RISE that ensures that the products of our students reach the right people in the relevant industry and that has already led to considerable success for us. 

Other than that, we do not promote the culture of chasing funds. We train our students to focus on building products that attract customers and instill a belief that if they build a product that attracts customers, funding will follow naturally. 

Inc42: Data shows that 74% of business leaders find GenZ more challenging to work with as they have a bold approach towards their choices. How have you designed your curriculum and training method to match this trend? 

Dhruv Galgotia: Earlier, the majority of students pursued only three types of courses – management, engineering, or medical – following the traditional paths largely guided by their parents. This trend has persisted for decades. While it still exists, it is now on a downward spiral.

New students, who are tagged the GenZ, are making their own career choices, pursuing what they truly want without fear. They are making bold decisions to choose the professions that align with their passion. Higher education is no longer enforced by parents, and students now have a greater say over their careers, thanks to increased awareness. As a result, there is a more even distribution of students across different courses, and we see greater diversity in the fields they choose to enrol in.

To effectively teach this new generation, we must adapt to the ways they prefer to learn. If we do not evolve our methodologies, the old ones won’t work. GenZ requires greater integration of technology and is more open to experimenting with new ways of teaching and learning.

Speed runs as the axis of thought for this generation. They believe in quick thinking, fast action, and immediate results. At Galgotias, we have adapted our system to keep pace with this mindset and expectation.  Accordingly, we are constantly customising our methods to align with how Gen Z wants things to be done.

Inc42: How do you see the future of Galgotias University? Will you take us through the roadmap you have laid out for it? 

Dhruv Galgotia: We are expanding, but we do not believe in opening multiple campuses, as it can lead to a dilution of quality. Instead, we are transforming this campus into a more advanced facility. Our next immediate investment, approximately INR 600 Cr, will go towards establishing a hospital and a medical college.

We are also building a school as part of our plan to enter the K-12 segment within the next three years. I have observed a trend where certain students who qualify for IITs opt for private universities, primarily due to the better infrastructure they offer. 

These students seek campuses with distinct aesthetics, modern facilities, advanced laboratories, and top-tier classrooms – qualities that, unfortunately, some government institutions lack. By creating an exceptional learning environment, we can bridge this gap, ensuring that students who graduate from our school can seamlessly transition into our university with world-class infrastructure and education.

The post How Galgotias University Is Creating India’s Next Generation Of Startup Founders appeared first on Inc42 Media.

Creating for the masses or premiumisation for the niches – which trend will shape India’s consumer landscape in the long run? Many would choose the first option. Given an inflationary environment and slowing growth worldwide, what’s better than leveraging affordability and scale in a classic price-conscious market? Yes, the margins are low, but industry giants like Reliance, the Tata group, Hindustan Lever and Dabur India have built their brands on volume-driven growth. 

Lately, however, the Indian consumer market has witnessed a great divide in spending patterns. Of course, the charm of mass-market products is far from fading. Affordability remains crucial for broad household consumption (food, groceries and other home essentials), and a UBS Securities report estimates that growth in this sector will remain subdued at 4-5% YoY in FY26. Conversely, in a report titled The Rise of Affluent India, Goldman Sachs has underscored how consumption by the top end of the country’s income pyramid is ushering in a new trend.  

According to its estimates, the top 10% of urban India (around 3.5% of the total population) spend eight to 10 times more on premium categories than the national average. It is further suggested that roughly 30 Mn or 20% of Indian households engage in high-end consumption. But delving deep, we find a unique convergence of aspirational minds across the country, which means tier II and III cities are also playing a significant role in this transformation, unlocking new opportunities for direct-to-consumer (D2C) brands and venture capital players investing in them for early advantage.

Undoubtedly, this is no fad. Per a NielsenIQ report, premium FMCG categories are growing twice as fast as their mass-market counterparts, accounting for 27% of FMCG sales and contributing 42% of the sector’s value growth. A similar surge in premiumisation is also seen in the tech and consumer durables space. 

Experts attribute this trend to rising incomes, global awareness and a willingness to invest in products that resonate with one’s aspirations. In essence, people today pay more for quality, sustainability and value-driven options, reflected in high demand for organic foods, customised fitness solutions, out-of-home dining, clean-label beauty and personal care (BPC) products and experiential travel/hospitality.

Consider this. Domestic airlines are seeing unprecedented demand for business-class seats, prompting even budget carriers to introduce premium cabins on domestic routes. Outbound travel is surging, with India’s international spending projected to reach $55.4 Bn by 2034. Travellers are no longer deal-hunters but seeking boutique hotels, curated experiences and offbeat destinations. Or think of compact SUVs with hybrid engines and advanced safety features. 

Data reveals that SUV sales grew by 140% during 2019-January 2024 against a 20% rise in passenger vehicle sales. Understandably, people purchased them more because they offered superior value, combining fuel efficiency, cutting-edge technology and enhanced safety in a practical package.

Herein lies the crux. Building formidable brands in a world of conscious consumers not merely chasing the exclusivity of high price tags – is no easy feat. As for consumer VCs like Rukam Capital, the ultimate ‘strategy black box’ leading to early stage funding and a healthy return on investment remains complicated due to the market shifts and a lack of benchmarking. 

When one is betting on new trends and brand new consumer startups, elaborate sourcing and commercial due diligence is hardly as adequate as they are for funding late stage (and more established) entities.

Diving Deep Into Micro-Trends Help

 VC players go all out to make their portfolios resilient against market shifts. But for Archana Jahagirdar, Rukam Capital’s founder and managing director, what matters most is a fine-grained analysis of every transition and trend. “For instance, we know that discretionary spending is rising, but value-for-money is the mantra for essential purchases. Consumers are willing to pay a premium for BPC, travel and dining, but when it comes to staples, they expect both quality and cost efficiency. The message is clear – premium is acceptable, but pretence is not.”

However, she notices a quiet transformation in the way the Indian middle class spends on non-food items, be it clothes, footwear, leisure or conveyance. “They are not splurging. They are upgrading to products that offer tangible benefits. It is not about spending more; it is about spending smarter. Call it premiumisation lite or value-conscious aspiration, but this shift is reshaping industries in ways that cannot be ignored.”

Market narratives prove her point. In the BPC space, brands like Pilgrim and Minimalist are recording strong sales not because they are the top luxury brands everyone wants to own. The secret sauce lies in their science-backed skincare offerings at aspirational yet affordable price points, which hit the sweet spot of Indian consumers. The same applies to many cost-conscious healthy snack brands, proving that trust, transparency and smartly positioned private labels can capture a big chunk of consumer spending.

As the market bifurcation grows, VCs like Rukam Capital try to decode all dynamic trends and their multiple challenges to build a balanced and profitable portfolio. A nuanced approach is critical to cater to a multi-dimensional market, says Jahagirdar. Premiumisation is required for those trading up, while mass-market benefits must appeal to value-driven but price-conscious buyers.

A Close Look At Rukam’s Premiumisation Initiative 

Luxury is no longer about excess but seamless access to what the world prefers and practises. Neither is it about massive out-of-pocket spending, thanks to innovative fintech solutions such as BNPL (buy now pay later) subscription plans and flexible financing. In fact, more than 40% of discretionary purchases involve some form of digital credit. Therefore, it is more about a mindset without which the rise of premium brands beyond the metros would not have been possible. 

“Confidence in premium spending stems from overall economic well-being and belief that the economy is set for further growth. People breathe easier when their earning potential is not capped, and financial stability helps shift their focus beyond survival and cautious saving,” observed Jahagirdar.

Now that India is projected to emerge as the second-largest consumer market by 2030, fuelled by significant income growth and an estimated 46% expansion, the buying power of Indian households will continue to climb, and the premiumisation of consumer goods may soon become the new normal. However, Rukam has identified yet another reason behind growing consumer spending. 

Post-Covid, consumer-brand interactions have shifted from transactional to experiential. People are moving beyond value-for-money to emotional and ideological connections, and sales depend a lot on big-time brand loyalty. The pandemic era’s doomsday outlook – why save for tomorrow – has shifted to a more optimistic view of abundance (why save for tomorrow when there is plenty to go around). Globally, this trend is clear and irreversible – people are now willing to spend more.

“As investors, we can recognise this change [a rise in experience-focussed spending]; we are part of this change. Startups, too, can benefit from this shift as they swiftly redesign their offerings. However, large companies struggle to cope with these changes and challenges,” said Jahagirdar.        

Nevertheless, there is a catch. The major consumer segments – baby boomers, millennials and Gen Z – are anything but frivolous. As Dirk Van de Put, chairman and CEO of Mondelēz International, rightly pointed out at the 2023 Consumer Goods Forum’s Global Summit, consumers will lose interest if brands continue to charge a premium without offering added value. 

The Rukam founder concurred. “Several industries are primed for premiumisation as consumers seek better quality, greater transparency and lifestyle upgrades [think of food, BPC, healthcare and wellness]. While the consumer is ready to spend, brands can’t be lazy and take things for granted. Only those offering a real, compelling value are going to succeed.”

Meanwhile, Rukam Capital has strategically invested in premium and mass-market brands, creating a balanced portfolio to weather market volatility. As premiumisation is no longer just a market trend but a long-term shift in consumer behaviour, approximately 30-35% of Rukam’s investments are in niche brands, while 65-70% include aspirational and high-quality mass-market businesses. Central to its investment thesis is an emphasis on omnichannel D2C brands, reducing reliance on any single sales channel.

“Our positioning across segments allows us to leverage high-growth opportunities and resilience in demand. However, our portfolio gravitates toward aspirational brands that resonate with evolving consumer preferences,” added Jahagirdar.

Sustainable margins and strong retention metrics are also pivotal in Rukam’s investment criteria, and there is a keen interest in brands gaining early traction in metros and Tier I and II cities. 

“Our premium brands have seen 2.5–3x revenue growth over three years, with gross margins consistently surpassing 50%. Although mass-market brands acquire customers more quickly, they operate on thinner margins, typically 20-30%, making profitability a longer-term play,” the founder said.

Premium Vs Mass Market: Which One Struggles More In India And How VCs Cope

For venture capitalists, the challenge of building a premium brand becomes even more pronounced due to their unique market dynamics. Premium brands with a smaller addressable market require highly targeted, niche marketing strategies for customer acquisition, and the CAC often skyrockets.

  “The sales volume for premium brands is significantly lower than mass-market products. However, brands led by the right founders can ensure better customer retention, higher margins and long-term loyalty, making them attractive to VCs who are in it for the long haul,” explained Jahagirdar. 

There are many roadblocks to profitability, including long customer acquisition cycles, high customer acquisition costs, scalability limitations, and a general lack of awareness regarding niche products – factors that early-stage investors must consider. 

Scaling a premium/luxury brand in India’s Tier-II and III cities is another major hurdle that slows segment growth. However, brands offering affordable luxury (more on that later) are navigating this challenge by targeting a larger pool of middle-market consumers. 

On the other hand, mass-market brands benefit from several key advantages. Thanks to a large customer base, they can scale more quickly, often without a robust brand narrative. The broader target audience leads to lower CAC, and their ability to generate organic growth translates into sales that are usually difficult to match. It also allows mass-market players to build momentum more rapidly, even without the deep brand loyalty seen in the premium segment. 

The trade-off? Margins, of course. Premium brands typically yield higher ROI in the long term, driven by strong brand loyalty, repeat purchases and superior margins. In contrast, mass-market players often experience rapid initial growth due to their broader reach and bigger customer base. But given their low margins, they are always at a price war with competitors.

According to the founder, both segments have long-term potential, buxxt Rukam has a differentiated approach to maximise growth. For instance, it wants to back premium brands that can scale beyond metros and scours for mass-market brands with quality differentiation, particularly in high-growth sectors like health and personal care. 

“We see the Indian market maturing to the point where premium and mass-market brands can coexist and complement each other rather than competing,” she said.

Will Affordable Luxury Define The Future Of Consumer Markets? 

Over the next decade, the Indian economy is poised for unprecedented growth that may exceed all projections. Powered by a young demographic, rising disposable incomes, healthy consumer demand and stable government policies, the country is primed for a wave of mid-tier premium brands catering to discerning consumers. Understandably, these brands are not targeting the true-blue luxury market. Yet, they keep up the perception of luxury through differentiated products and keep their prices a notch above the mass market (after all, price is positioning, says Blair Enns). These products are not exclusive or overpriced but gain traction from aspirational buyers from Tier II and III cities.

That is affordable luxury, a segment that makes people feel good about buying something worthwhile minus the exorbitant pricing and makes premium consumption more accessible. A luxury car company can do it by introducing a smaller model with fewer features. Or there can be luxury-inspired product lines delivering a premium experience at a fraction of the cost charged by global peers. Brands like Pilgrim are doing that and getting good business. They also present a compelling investment opportunity for consumer VCs like Rukam Capital.  

“For venture firms, affordable luxury provides a scalable investment model. It offers higher margins than mass-market brands but a larger audience than ultra-premium segments,” said Jahagirdar.

 Meanwhile, the market for organic, clean-labelled and health-and-wellness-focussed products is expanding across mass and premium segments. The future, however, belongs to those who can blend price, quality and fast access.

 Again, adding the latest technologies to this evolving mix is mandatory for success. Premium brands increasingly leverage AI/ML to deliver hyper-personalised shopping experiences while digital-first D2C brands continue to scale rapidly, outpacing traditional retail. Not to be outdone, mass-market brands are also harnessing innovations to enable sophisticated data analytics and smart logistics to reduce costs and improve operational efficiency. 

Rukam Capital is closely watching this space, investing in brands that balance pricing, quality and scalability. The VC firm’s strategy is clear: Support startups aligning with India’s evolving consumer aspirations through premiumisation and smart mass-market positioning. As the Indian economy expands, so does its consumer sophistication. Brands that master this dual dynamics will shape the next decade of Indian retail.

The post Rukam Capital’s Recipe For Success In India’s Diverse Consumer Market appeared first on Inc42 Media.

A thought leader, capable of churning out innovative ideas, open to realising customer pain points, and equipped with problem-solving skills – all while racing against time.

Hold it! This is not the description of a corporate leader, but the strengths of a great product manager. 

And, there’s no dearth of such professionals in India. They not only embrace this responsibility but also excel at it like true champions. Their efforts, however, remain largely unnoticed despite the massive success of the products they design.  

That was the trigger behind Upraised, a platform to train individuals to become product managers without an MBA degree, to come up with Upraised Game Changers 2024 list, celebrating the product managers who not only solved problems that affected millions of users but also created significant business impact. Product managers from Swiggy, Myntra, Uber, Invideo, INDmoney, Rapido, MPL, and many other leading Indian brands have been picked up through a multi-step process which included an expert-led shortlisting based on their framework evaluation, community engagement, public voting, and a final review.

With this, we bring you the second batch of 25 product leaders, who made the cut by leading innovation, bringing positive disruption, and proving to be the real game-changers in an increasingly bustling startup ecosystem in India. Let’s take a look at the Upraised Game Changers 2024 list. 

Here’s The List Of Upraised Game Changers 2024

1. Aarish Khanna, SDE-1, Swiggy

Making a grocery list and handing it over to the shopkeeper for weekly or monthly supplies is a good old practice in the ubiquitous Indian household. In the process, no matter how much you try, one or two items are sure to fall out of the list. 

When quick commerce came into play and replaced the traditional grocery shop for most urban households, shopping for supplies became a lot easier, but searching for items on the app turned out to be a lot harder than making the list in longhand. 

Swiggy’s Aarish Khanna realised the pain point and got into brainstorming with his team. They developed a feature that allows users to scan their handwritten or printed grocery lists using their phone camera to search for all items at once on Instamart, Swiggy’s quick delivery venture.  

Once the feature went live, it became an instant hit, and Swiggy recorded a considerable improvement in the cart-to-conversion rate. It also helped save time for the user.

2. Naina Bansal, Senior Product Manager, Swiggy 

Naina Bansal worked with Aarish Khanna in the team that developed the feature for Swiggy Instamart that helped the customer scan their handwritten or printed grocery lists using their smartphone camera and cut down the hassle of searching for each item individually on the platform. 

The feature earned massive love and appreciation from Instamart users and gained popularity on social media while also cutting down the delivery time for consumers. 

3. Abhijit Khasnis, CTO, Healthify

Healthify, a digital health and wellness application, was trying to find a solution to deal with the inaccuracies in user-fed data on their calorie intake. The data shared by users for assessing calories in their meals was often based on estimates, while feeding every detail about the meal made the whole process quite tedious.

Abhijit Khasnis turned to artificial intelligence (AI) to devise a solution by deploying an AI-powered image recognition tool. He made it capable of identifying a food item from the image shared by the user, estimating the portions, and calculating the calorie intake for that serving. 

This made meal logging faster, more accurate, and more engaging for Healthify users. The result was a 50% surge in food-tracking activity among the users. 

4. Abhishek Madan, Former VP, Product Management, Paytm

Will there be a parking facility? How much do they charge? Will it be safe for kids? Can we get food there? What sort of food? How about beverages? Alcohol? Such endless thoughts crowd our minds whenever we book tickets for a live event. More often than not, the event detail page (EDP) lacks these details, which can hamper the user’s experience on the booking platform.

Paytm Insider (later acquired by Zomato), wanted to spare the user of such worries. Abhishek Madan decided to develop the EDP as a collection of widgets that could be easily updated from the backend. With this, the organisers could add as many details about the event as possible, along with YouTube videos and PDF files, directly on the details page.

With a Spotify widget, they can also add a handcrafted playlist of the artist, helping the audience discover or rediscover the performers at the event.

5. Aditya Narayanan, Senior Product Manager, Swiggy

When you are hosting a party, it’s easy to get the food through a delivery app like Swiggy. But it’s quite a tough task, and cumbersome too, to ask everyone what they would like to have and place the order without messing up with the quantity or missing out on one or two items. 

Every host hates such an experience. When Aditya Narayanan was tasked to ensure a better user experience, he came up with a new feature for group ordering. This allows the user to choose a restaurant, invite all the guests to share a cart, ask everyone to add items to the cart, and finally process the entire order together. The feature cuts the chaos and makes the food-ordering process smarter.  

After this feature was added to the app, Swiggy’s average order value grew 0.25% and increased user participation by reactivating dormant accounts, with an activation rate zooming 85%. 

6. Akash Yadav, Senior UX Manager, Myntra

Short video contents seem to have set off a storm in social media, driving a billion-plus Indian smartphone users into scrolling. 

As these short videos emerged as a great mobiliser of sales, ecommerce platforms started trying to leverage it by cutting down fragmentation in customer journeys from discovering the product on one app and then opening another one to place an order. 

Myntra decided to build an immersive short-video content platform within its application that would allow the user to discover products and place orders from there itself to stop disruption in the viewing experience. 

Akash Yadav delivered Myntra Minis as a feature designed to mix short-form entertainment with an easy shopping experience. This allows the user to scroll reel-like Minis and order products directly. 

When the feature went live on Myntra, the adoption rate for Minis increased 5%, which means 5% of users were watching mini videos and making shopping decisions.

7. Aman Shah, Product Manager, Uber

Booking a cab was never so easy until apps like Uber came up. But getting the cab has often been a problem when the cabbie doesn’t show up or answer your calls. It leads to unnecessary delays and forces the rider to eventually cancel the booking and also bear the cancellation fee. 

With the frequency of such incidents increased, customers started raising their concern. Uber had to resolve the issue. 

Aman Shah and his team came up with a button on the ride page for situations where the driver shows no movement towards the pickup location. The rider can use this option and get a new ride without any change in fare or cancellation charge. The feature is designed in a way that it does not match the rider with the same driver who initially ignored the ride. 

The feature became popular very soon and Uber was able to improve the experience for millions of users. It also reduced rider cancellations by 2% worldwide.

8. Anbu Dhileepan P, Principal Product Manager, Swiggy

Have you ever wondered why a dragon straight from Game of Thrones was on the way to deliver your food? At times, it’s a Croma truck that delivers the latest iPhone that shows up on the Swiggy tracking page, instead of the rider.   

Swiggy wanted to monetise its order tracking page in a creative and engaging way. Anbu Dhileepan P introduced Map Ads, a feature by which advertisers can design icons that would replace the rider’s icon on the order-tracking page. 

The ads not only secured huge visibility, but also powered multiple viral marketing campaigns for brands like the FIFA World Cup, Game of Thrones and Croma. With Map Ads, Swiggy successfully unlocked a fresh revenue channel while keeping the key customer experience metrics in check.

9. Sudhir Mani, Director Product Management, Swiggy 

Sudhir Mani led the monetisation efforts for the order tracking page of the app, along with Anbu Dhileepan P, in the superimposed partner advertisements.

While the brainchild of Sudhir and Anbu, Map Ads, opened an option for brands to reach out to millions of Swiggy users, for the delivery app, it created a revenue channel without any annoying pop-ups or sidebars. 

For the user, the innovative design ended the monotony of the same icon and also made it somewhat entertaining. 

10. Harshit Madan, Founder, Alle 

“Will it look good on me?” Almost everyone shopping for clothes online gets dogged by such a worry. “It doesn’t appear as good on me as I thought it to be.” The shopper often gets bitten by such feelings after the product is delivered. 

The cause is the lack of visual imaging options and the effect is frequent abandoning of carts and costly returns. 

This is precisely what Harshit Madan wanted to solve. By using artificial intelligence at its core, Alle is trying to make the online shopping experience for its users more guided and reassuring. 

The platform offers personalised styling advice and visual inspiration for the products that users are considering. Shoppers can ask questions in their natural language to Alle, such as, “would this dress suit me?” or “how can I style this top?” and Alle will respond with personalised recommendations, acting as a personal stylist.

Alle’s AI assistant can also offer a curated selection of popular looks, showing how a product can be styled in real life. This feature remained at the core of Alle and made a significant impact on user retention on the app.

11. Kaushik Subramanian, Product Manager, Mobile Premier League

Mobile Premier League (MPL) is an Indian online gaming platform offering dozens of games. The variety of games on the platform sometimes, however, confuses new players who join MPL after interacting with a specific game on ads but do not immediately find it when they visit the website or download the app. This often creates frustration for users trying to find the game they want to play.  

To solve this, Kaushik Subramanian built a mechanism, which ensures that new users can reach the same game on the website and the app that they interacted with in an advertisement. For example, if users engaged with an MPL ad featuring Rummy on Facebook, their touchpoints on the website or the app would highlight Rummy and other related games.  

This feature has led to an improvement of up to 60% in projected paybacks from some of the campaigns where the company used this personalisation.

12. Kaushiki, Product Manager, Zepto 

For the budget-conscious Indians, offline remained the preferred buying option because it allows them to negotiate the prices, especially while buying in bulk. Online platforms typically do not offer this flexibility. 

Quick commerce platform Zepto spotted an opportunity in this. After Kaushiki was tasked to bridge this gap, she came up with the idea of Zepto Super Saver, a dedicated section on the platform that offers discounts on larger orders while retaining all the benefits of quick commerce.

Super Saver soon became a top choice for families and shared households, allowing them to maximise savings by buying in bulk without compromising on the convenience of fast delivery.

13. Siddesh Patil, Senior Product Manager, Zepto 

Siddesh Patil worked with Kaushiki in bringing Zepto Super Saver to the platform. By offering the users a chance to save more on bulk buying, it opened an untapped section of buyers to the quick commerce company. 

These buyers so far preferred the offline channel for the flexibility of negotiating prices.  

For Zepto, the feature translated into an overall improvement in revenue and a 28.7% spike in the net average order value. 

14. Kirkston Dsouza, Product Manager, InVideo 

InVideo is a cloud-based platform that uses AI to generate videos from text prompts. As the platform gained popularity, the founders wondered how users created impressive videos by entering elaborate prompts. However, some users were facing a challenge. It was a blank prompt box that they did not know how to fill.

To address this, the team came up with the idea of Workflows, which offers users specific options and presets to help them create videos in their desired style. When Kirkston Dsouza was assigned the task to implement the idea, he collaborated closely with Sunny, the company’s design head, to launch Workflows with just three options, which were well received by users.

15. Utsab Dasgupta, Senior Product Manager, InVideo 

Ustab Dasgupta worked with Kirkston Dsouza to integrate Workflows into the text-to-video AI platform. Workflows allow users to choose presets based on the purpose for which they are creating videos.  

The feature went live on the platform and resulted in a 1.4 times improvement in the company’s user retention. InVideo plans to roll out the next set of improvements and additions to Workflows in the next few months.

16. Kriti Sharma, Product Manager, Yulu Bikes

Yulu Bikes, which provides low-speed, two-wheeler electric vehicles on rent in cities, was staggered with poor discoverability and low effectiveness of the referral programme. A deeper look into the issue showed that the refer-to-earn option was buried deep down in the menu, rewards were not lucrative enough, and users had no option to track their progress.

That is when Kriti Sharma and her team introduced four features that included nudging the users on the rentals home page, switching to a percentage-based cashback reward system, launching a contact-based reward system, and gamifying the overall referral experience.

The revamp turned out to be successful as the referral channel share grew by three times while reducing the referral cost by over 33%. Thanks to Sharma’s implementation, Yulu Bikes generates over 500 leads a day from the programme and hosts 57% higher traffic on its referral page. 

17. Mayank Misra, VP – Product Management, INDmoney

We hardly get to see a complete picture of our financial assets and liabilities in a single statement. With money scattered across various instruments, tracking everything at once becomes a challenge. This lack of visibility makes us less aware of our net worth, spending capacity, and creditworthiness.

All-in-one money tracking application INDmoney spotted a scope of innovation in this and Mayank Misra took up the task. Misra and his team identified the requirements of the end-users and implemented advanced trackers that could monitor multiple asset classes. 

The team also developed a mechanism to aggregate all the information about a user’s assets and create a single, comprehensible balance sheet and net worth. This helped the company record growth in customer engagement and retention. 

18. Prateek Jain, Principal Product Manager, Swiggy

Besides its own delivery fleet, Swiggy also operates through the logistics networks of the largest food brands in the country. These brands have their in-house tech ecosystems, which are not easily integrated into Swiggy’s application. This often led to a situation where tracking the delivery partner was not possible if a customer ordered food from these brands through Swiggy. 

This created anxiety among customers, especially in case of a delay in delivery.

To deal with this, Swiggy launched a brand integration initiative led by Prateek Jain, who collaborated closely with the product and tech team of food brands. They developed an API suite which enabled real-time data sharing. 

With this, Swiggy’s customers can now track their orders, irrespective of the brands that they order from. The result? There was a steep decline in ticket requests regarding the location of the delivery partners. 

19. Ravish Bhatia, Head Of Products, indiagold 

Gold loans have been operationally intensive as they require the borrower to carry gold to a branch, where safety, regulatory, and compliance processes are involved. Gold loan fintech indiagold felt a more hassle-free and seamless process would help improve customer experience.   

Teams of product managers, strategists, and engineers, led by Ravish Bhatia, worked on simplifying operational tracking, assaying, and approval systems. They also focussed on branchless core banking and integrations with partner banks to create a complex hyperlocal system that allowed indiagold to offer doorstep lending services. A loan manager comes to the customer’s home, assays, and disburses the loan as per the customer’s convenience, making the entire system of gold loan disbursements as simple as ordering food from Zomato or Swiggy.  

The initiative had a direct impact on the company’s topline, leading to a 1.9 times growth in the loan-to-value ratio and a reduction in customer acquisition costs.

20. Saurabh Misal, Senior Product Manager, Rapido  

Rider safety is a top priority for any ride-hailing company. Two-wheeler app Rapido sought to beef up its security mechanisms for concerns, such as customer safety during late-night rides, triggering alerts if a vehicle remains stationary for too long, and detecting deviations from the system-suggested route in real time.  

Saurabh Misal led the development and implementation of safety features that ensure a seamless experience for both riders and captains. The features proactively notify both parties on real-time monitoring, reducing friction. Riders can take control of directing the captain for a preferred route or asking for help so that Rapido could react on time.

There was also a system for training and screening of captains as per defined guidelines. The company said 3-4 incidents were reported everyday where customers said they were able to avert a mishap as they were notified. As a result, Rapido saw a rise in its net promoter score (NPS), which brought in more female riders. 

21. Sivam Jyotishi, Product Manager, MPL 

Online gaming platform Mobile Premier League (MPL) grappled with shrinking customer engagement for some time. The customers were struggling to find the preferred game on the application, select the right price point, and in-app offers that were affecting the company’s topline. 

Sivam Jyotishi and his team developed a solution that used data-driven insights on user activity to create a personalised journey. Every user is offered exactly what they want based on their previous interaction with the platform. 

The company segmented users into cohorts based on experiences that take the users towards desired behaviours. MPL recorded a 3-10% improvement in user retention. 

22. Himanshu Shukla, Product Head, Zomato

You must have faced situations when you were too keen to attend an event, but hesitated to buy the tickets, either because the venue was far off or you were not sure about your schedules. Such situations always left you in a dilemma over whether to commit or to wait, only to realise later that the tickets were sold out. 

Such experiences are common among people who love attending events but face time constraints, and often end up either with unused tickets or none at all.

When Zomato thought of working out a solution that could be a win-win for both the customer as well as the company, Himanshu Shukla pitched the idea of the Buy Now, Sell Later feature. It allows the user to buy the ticket as early as possible and if, for some reason, they decide to drop out, they can sell it on Zomato at a price capped at the organisers’ discretion. While it saves the money for the user, it helps in the overall sales for the event. 

Shukla firmed up his idea to integrate it into the platform before Zomato’s flagship Feeding India Concert. It removed the scope for users to second-guess before booking the tickets. 

23. Ashish Singh, Product Manager, Zomato 

While stationed at a place, nothing can beat the ease with which we can order our food through an app like Zomato. But it’s not so easy when you are travelling by train. You are forced to settle for whatever is available in the pantry or with the vendors. 

Zomato tied up with the IRCTC to resolve this issue. A team led by Ashish Singh created an integration between Zomato and IRCTC e-catering services, allowing customers to order meals while travelling through the application – either while waiting for their train or while on board.  

Available across over 100 cities so far, this feature ensures that the customer can enjoy fresh, high-quality meals of their choice right from the comfort of their train berth.

24. Onkar Ghorpade, Product Manager, Zomato

From sushi to pizza to fish and chips to butter chicken – it often turns out to be a cuisine world tour whenever you invite friends or relatives and try to order food online. You can’t get so many different delicacies in one place. 

Even if there’s some miracle and you find one restaurant that serves it all, the hassle is far from over. The next rounds of struggle involve figuring out the right quantities, managing individual preferences, and tracking the delivery time. 

Zomato has come up with an innovative idea from Onkar Ghorpade to resolve the crisis. He framed a solution in which the host can share a link with all the invitees and ask everyone to add the food of their choice to the cart. Now, a single order can be placed using this common cart without the need to manage all the chaos yourself. 

25. Vijay Bharadwaj, Associate, Product And Growth, Merlin AI

Merlin AI has designed an advanced artificial intelligence tool to improve search results and condense lengthy web pages into digestible notes, while also personalising user interactions. 

To improve the product further, Merlin AI wanted to synchronise personalised information that users can save with either its browser extension or the mobile application to be used by the assistant whenever required. 

Vijay Bharadwaj was tasked with bringing this idea to life. He led the development of the Save to Merlin feature, which allows the user to select and save information that Merlin automatically organises into topics for future use. This helps the user bookmark all summaries generated by Merlin, whether they are Google search results, notes from YouTube videos, blog summaries, or any other web content, including texts, images, and videos.

Users who tried the feature are consistently returning to it, with nearly 250 users saving content daily on Merlin AI. The company has also observed an increase in app downloads, driven by web users adopting the Merlin mobile app to access the save feature.

All these product leaders have set a benchmark for aspiring innovative leaders and inspire them to push the boundaries of innovation. 

Upraised Game Changers 2024 recognised the efforts of these 50 outstanding product managers, rather the unsung heroes, who are instrumental behind world-class products, made in India, made for the world. Read first part of the list here.

The post Top 50 Product Leaders To Watch: Upraised Game Changers 2024 [Part II] appeared first on Inc42 Media.

TiE Mumbai is set to host the ‘Hall of Fame’ Awards at TiEcon 2025 on March 12, bringing together the key enablers of India’s startup and investment ecosystem.

The Indian startup landscape has evolved into one of the most dynamic and fast-growing in the world, with entrepreneurs, investors, and industry leaders driving the next wave of economic transformation. Recognising them and their impact, The Indus Entrepreneurs (TiE) Mumbai is set to host the ‘Hall of Fame’ Awards at TiEcon 2025.

Scheduled to take place at the Jio World Convention Centre in Mumbai, TiEcon 2025 is expected to host over 3,000 attendees, 120+ speakers, and 50+ sessions, offering a deep dive into India’s evolving entrepreneurial landscape. A highlight of the event, the Hall of Fame Awards will celebrate individuals and institutions that have made exceptional contributions to the startup ecosystem, corporate leadership, investment, and public service.

Recognising Industry Trailblazers

The Hall of Fame Awards will honor a diverse mix of founders, investors, investment bankers, corporate leaders, and government change-makers who have played a crucial role in shaping India’s entrepreneurial ecosystem. N.R. Narayana Murthy, founder of Infosys, will be the Guest of Honor, adding to the significance of the occasion.

“Entrepreneurship is the backbone of India’s economic growth, and it is essential to recognise the pioneers who are driving meaningful change. The Hall of Fame is a tribute to those who have dared to innovate, build, and create a lasting impact,” said Ranu Vohra, President of TiE Mumbai.

The awards will be presented across multiple categories, including:

• Pioneering Unicorn Investor – Recognising investors who have played a pivotal role in backing unicorn startups
• Catalyst of Startup Ecosystem & Innovation – Celebrating individuals driving mentorship, funding, and policy initiatives
• Startup Power Couple – Honoring cofounders who have jointly built and scaled successful startups
• Innovator in Logistics Excellence – Recognising startups revolutionising the supply chain and logistics industry
• Transformative AI Startup in Customer Service – Acknowledging startups that have leveraged AI to redefine consumer interactions

With India now home to 120 unicorns and a growing pipeline of soonicorns, such awards recognise not just past achievements but also the next generation of disruptors who are redefining industries and driving economic growth.

“As we honor these visionaries, we reaffirm our commitment to fostering innovation, collaboration, and impactful change in India’s entrepreneurial landscape,” said Apoorva Sharma, President Elect, TiE Mumbai and cofounder, Venture Catalysts and 9Unicorns.

A Gathering Of Leaders And Changemakers

The Hall of Fame Awards will be attended by some of the most influential names in the startup ecosystem, including OYO’s Ritesh Agarwal, Nazara Technologies’ MD Nitish Mittersain, and Enam Holdings’ Manish Chokhani, among others. With key figures from across sectors participating, TiEcon 2025 aims to foster high-impact discussions on entrepreneurship, investment, and the future of India’s startup ecosystem.

The event will also serve as a platform to discuss the evolving role of investors, the impact of new-age technologies, and the pathways for scaling startups into global enterprises.

Beyond celebrating individual excellence, TiE Mumbai aims to strengthen the startup ecosystem by fostering collaboration, mentorship, and investment. By bringing together investors, policymakers, and industry veterans, the event will spotlight the challenges and opportunities that will define the next phase of India’s startup revolution.

The post TiEcon 2025 To Honor India’s Startup Leaders With Hall Of Fame Awards appeared first on Inc42 Media.

On the surface, a college education is a nice concept. Students pick the subjects they love, learn from the experts and emerge job-ready and future-perfect, armed with relevant degrees. This academic culture also gels well with the higher education landscape in India. The country’s higher education system ranks among the largest globally, and its gross enrolment ratio (GER) for the 18-23 age group stood at 28.4%. 

According to the Economic Survey 2024-25, India serves 24.8 Cr school students, a near-universal GER at the primary level (around 93%). But the number significantly drops when one goes up the academic ladder (77.4% and 56.2% at the secondary and the higher secondary levels, respectively). While the government plans to bridge these gaps, a nation must grow and upgrade its higher education system to drive inclusive and equitable growth. 

The national target to increase the GER in higher education is 50% by 2035, which requires doubling the educational network and infrastructure. But in a rapidly evolving educational landscape, where digital learning has become the new normal, students increasingly go online to find the right courses and institutions for specialised knowledge, job-related skills and personalised guidance. Understanding the complexity of navigating a vast online higher education market and diverse opportunities, a team of three launched the edtech platform startup College Vidya to redefine how learners make crucial academic decisions in a digital-first world. On this edtech platform, students based in any city of India can learn from top notch universities and colleges.

Although students from large public high schools require hand-holding by career counsellors and guidance providers, these services are often considered an extra layer, a luxury premium institutions provide. “In fact, College Vidya stems from my struggles and what I experienced. I always wanted to pursue engineering but never had the ‘shepherding’ I needed,” said Rohit Gupta, the cofounder and COO, who holds a commerce degree from Delhi University and later completed an executive management development programme from IIM-Lucknow.   

Rohit and his brother Mayank earlier ran a computer training chain with 40+ centres, helping fresh graduates acquire industry-ready tech skills. But they had to wind up their first venture, and Rohit started working as a student counsellor at a university. His job took him to different parts of the country, even in remote areas, where he experienced firsthand how a staggering number of students needed guidance to select the best possible programmes. The brothers eventually took the plunge and started their second venture, a 100% digital initiative. As their mission gained momentum, they were joined by Sarthak Garg, who strengthened the team’s product capabilities and reach.                

College Vidya is a one-stop consulting platform for online courses, providing comprehensive and unbiased information to democratise learning. Based on 30+ key criteria, it has selected a wide array of programmes from more than 100 accredited online universities and runs an AI-powered recommendation engine based on a brief questionnaire. 

The platform features undergraduate and postgraduate courses, doctorate and PhD programmes, executive education for the C-suite and other working professionals, law courses, advanced diplomas, upskilling provisions and guidance for studying abroad. It also offers course comparison and university verification tools, one-to-one audio/video counselling by 500+ mentors and adequate networking opportunities. Additionally, it provides educational loans in collaboration with financial partners and runs a career portal and an internship platform for 360-degree support.

Revenue is generated through nominal onboarding fees paid by online universities and edtech partners, recruitment services connecting students with potential employers. The bootstrapped venture earned INR 43 Cr in FY24 and is projected to close the current fiscal year with INR 60 Cr, a 40% jump. It aims to reach INR 200 Cr in revenue within the next five years and actively explores funding opportunities for expansion and innovation.  

The 4C’s Of Counselling Designed For Digital-First Higher Education 

In spite of their previous experience in edtech, College Vidya was not a cakewalk. Quite the contrary, as convincing students and parents about the legitimacy and value of online degrees was one of the toughest challenges. The initial days were spent working with a small but dedicated team of 15-20 and counselling students face-to-face. 

The widespread adoption of digital learning during the pandemic fixed the trust issue, but the landscape soon became overcrowded and chaotic. “With every institution claiming it is the best, it became increasingly difficult for students to identify an ideal option that would match their goals and potential,” added Rohit. 

Another critical issue is ‘undermatching’. Many students only apply to institutions they have heard of instead of searching for the best ones they qualify for. Others skip high-cost schools without delving into the financial assistance and scholarship schemes. Worse still, some students do not apply despite being fully qualified, limiting their learning opportunities and career prospects. It means students without counselling easily stumble and make poor decisions. 

“It’s a huge problem – massive, we would say. Plus, we wanted to make a robust system that would continue to deliver value in post-Covid times. Hence, the introduction of so many parameters and an AI recommendation to ensure a good match in the first place,” the founders said. 

“We aim to simplify decision-making and offer expert guidance to students exploring higher education online. They should be able to choose without being swayed by marketing gimmicks or misinformation.”

The platform’s unique approach is rooted in four fundamental principles or 4C’s: Comparison, counselling, career support and community. Here is a quick look at each. 

Compare: This feature allows users to compare universities and courses based on 30+ factors such as accreditation, course structure, fees, faculty and reviews. Unlike traditional university-affiliated counsellors, College Vidya provides unbiased, expert guidance to meet each student’s specific requirements and enable informed decision-making. 

Counselling: Trained counsellors/mentors (every mentor has done PG Diploma in career counseling)  guide students through their academic journey, advising on course selection, career paths and university options. This helps students receive appropriate guidance aligned with their long-term goals.

Career: College Vidya extends its services beyond enrolment and offers job and internship opportunities through its partnerships with various organisations. This is a vital initiative, bridging education and skills with professional growth. 

Community: Finally, it fosters a collaborative community where students, alums and industry experts share knowledge, experiences and insights. It builds camaraderie and helps expand professional networks at a time when campus recruitment is falling.

How College Vidya Overcame Hurdles To Reach Its Target Audience  

The edtech player had to overcome technological and logistical hurdles to ensure accessibility across Tier II and III cities. As a bootstrapped startup, the founders faced the daunting task of building a sophisticated platform that could meet the high expectations of students accustomed to seamless experiences provided by Amazon and Zomato. 

“So, we have written more than 10 Lakh lines of code to ensure smooth navigation across features and an intuitive interface. Everything has been developed to streamline and manage the intersection of multiple priorities – academic performances, plans for the future and the means to afford those goals. It is a complex and chaotic process, at best. But we have gained traction through a balanced integration of tech, information and hand-holding by trained professionals with unique perspectives on what students need to succeed,” said Rohit.

Interestingly, the startup’s Big-Billion-Day campaigns resonated well with Indian students. These mid-year admission schemes supported students who faced academic setbacks and offered up to 50% cash subsidy on selected programmes. In essence, it has broken free from the sales-driven model prevalent in the edtech space, reinforcing the platform’s commitment to students’ education and career development.           

It is not surprising, therefore, that College Vidya has a strong presence in Tier I-III cities. Delhi leads with 13.5% of its student base, followed closely by Uttar Pradesh at 13.1% and Maharashtra at 10.06%. Other key markets include Bihar (5.9%), West Bengal (5.5%) and Haryana (4.9%), each contributing a growing share of the user base. Although Karnataka, Rajasthan and Gujarat each account for 3-4% of its student base, the startup gets significant traffic from the Middle East.

The Road Ahead For College Vidya In The Online Learning Space

In an era when students are bombarded with product promotions and marketing claims, College Vidya wants to create an unparalleled college guidance system based on unbiased information and transparency, tech advantages and the excellence of its guidance counsellors.

The edtech startup is pursuing an ambitious growth plan, combining domestic expansion and international reach. At home, it will expand its footprint across regional markets, and beyond India, it has set its sights on the UAE, Bangladesh and Nepal.

In the short term, College Vidya will focus on enhancing its AI-driven features, strengthening its content and community ecosystems and scaling its video-counselling services to address diverse student challenges. The aim is to reach every Indian pin code and drive a 10 Lakh-strong monthly traffic, up from the current average of 6 Lakh.

“In the long term, we want to partner with leading global universities, offer more programmes, and develop a comprehensive job and internship marketplace. This strategic approach will enhance value for students and education providers while positioning College Vidya as a leading edtech platform,” said Rohit.

If that sounds like an overload of plans in too many directions, at least the core business of College Vidya will continue to grow. Globally, the career and education counselling market is estimated to reach $4.9 Bn by 2031, growing at a CAGR of nearly 8% from $2.8 Bn in 2024. And India is unlikely to lag in this space, as it is working dedicatedly to implement NEP 2020 (National Education Policy) to enter a new era of economic prosperity.

Given that the NEP promotes five fundamental pillars – Access, equity, quality, affordability, and accountability – the country is all set to disrupt the classic, campus-based higher education model. Edtech ventures like College Vidya and its peers can play a pivotal role here by opening up new learning opportunities and preparing students for the real world.

The post How College Vidya Is Cracking The Chaos In India’s Digital Higher Education Space appeared first on Inc42 Media.

As India charts its course towards becoming a global innovation powerhouse, its startup landscape is evolving rapidly, driven by cutting-edge advancements across sectors such as AI, defence tech, fintech, healthcare, and more. This ecosystem is not just growing; it’s revolutionising industries, creating sustainable solutions, and positioning India as a hub of entrepreneurial excellence on the world stage.

At the heart of this transformative journey lies a vision that sees India as a global leader in innovation and entrepreneurship by 2047, the centenary year of its independence. This ambitious goal requires not just growth, but nurturing of the startup ecosystem, fostering collaborations, and showcasing India’s innovative prowess on a global stage.

To showcase the nation’s entrepreneurial spirit and ambition, the second edition Startup Mahakumbh is set to take place from April 3 to 5, 2025, at Bharat Mandapam in New Delhi with the focal theme ‘Startup India @ 2047—Unfolding the Bharat Story’.

Startup Mahakumbh will bring together over 3,000 startups showcasing their innovations, along with 10,000 delegates, 1,000 investors, incubators, and accelerators. With an expected attendance of 50,000+ business visitors from India and beyond, the event is expected to be one of the largest global gatherings for the startup ecosystem.

It will feature sector-specific pavilions highlighting advancements and innovations shaping various industries.

Key Pavilions Shaping The Future Of Technology And Innovation

AI, Deeptech And Cybersecurity Pavilion: The pavilion will focus on the development of cutting-edge AI solutions for real-world problems. It will be anchored by Kritika M, senior director at Nasscom; Aakrit Vaish, advisor of IndiaAI Mission; Raghu Dharmaraju, CEO of ARTPARK; Aditi Gera, head of platform, Bracket by BoldCap; and Sateesh Andra, managing director of Endiya Partners. 

B2B And Precision Manufacturing Pavilion: The pavilion will showcase the revolution in production processes. Advanced manufacturing technologies, including 3D printing, robotics, smart factories, and enterprise solutions, will be on display. It will be anchored by Vidhya Ananthakrishnan, chief of staff at Accel; Anurag Ramdasan, partner at 3one4 Capital; Rajanikanth Balaraman, cofounder and chief of technology and growth officer of Unimech; and Rohit Batra, managing partner of Evolvence India at Evolvence Capital.

Defence And Spacetech Pavilion: From advanced cybersecurity solutions to autonomous systems and smart combat gear, this pavilion will embody India’s mission for self-reliance in defence. Dr. Vinod Kumar, director at IN-SPACe; Vidhya Ananthakrishnan, chief of staff at Accel; Vishal Chaudhary, cofounder of Zetwerk; Sanjay Nekkanti, founder and CEO of Dhruva Space; and Dr. Milind Pimprikar, chairman at Caneus, will be anchoring this pavilion.

Biotech And Healthcare Pavilion: Aligned with the “Viksit Bharat 2047” vision, this pavilion will explore innovations revolutionising healthcare, agriculture, and environmental sustainability. The pavilion will highlight advancements in diagnostics, personalised treatments, and affordable therapies. It will be anchored by experts like Dr. Taslimarif Saiyed, director and CEO of C-CAMP; Aakanksha Gulati, CEO of ACT Grants; and Radhika Ananth, vice president at Accel.

D2C Pavilion: Led by Aman Gupta, cofounder and CMO of boAt and Archana Jahagirdar, founder and managing partner of Rukam Capital, this pavilion will showcase transformative and innovative brands reshaping consumer experiences across diverse sectors like fashion, beauty, FMCG, and lifestyle. 

Fintech Pavilion: It will feature innovations that make financial services more inclusive, secure, and efficient for the future of Bharat. It will be anchored by Dinesh Pai, cofounder and VP of Zerodha; Siddarth Pai, founding partner of 3one4 Capital; Venk Krishnan, founder and CEO of NuVentures; and Mahesh BG, CEO of Sahamati.

Gaming And Sports Tech Pavilion: This pavilion will highlight innovations in sports technology – from immersive gaming experiences to wearable fitness devices and data-driven athlete performance tools. It will be anchored by Harsh Jain, culture enforcement officer & cofounder of Dream Sports; Girish Menon, chief strategy officer of JetSynthesys; Sanjeev Kumar Gupta, CEO of KDEM; and Saumya Singh Rathore, cofounder of Winzo Games.

Agritech: Anchored by Vineet Rai, founder and chairman of Aavishkaar Group, and CM Patil, CEO of KrishiKalpa Foundation, this pavilion will showcase startups transforming agriculture with AI-driven crop monitoring, precision farming, and efficient supply chains. 

Climate Tech Pavilion: Climate tech startups are empowering green innovation by advancing energy transition, developing climate-resilient infrastructure, and driving sustainable technologies. This pavilion will focus on bridging the climate finance gap and unlocking alternative funding mechanisms. It will be anchored by experts like Anjali Bansal of Avaana Capital; Mirik Gogri, sustainability investor at Spectrum Impact; B Capital’s Karan Mohla; Alankrita Khera, director at ACT; and Sumeet Shetty, AVP at IVCA.

Incubators & Accelerators Pavilion: This pavilion will provide a platform for over 1,000 incubators and 10,000 innovation and incubation centres to become the nerve centers of entrepreneurship. It will focus on integrating industry, government departments, and CSR with incubators to ensure startup success. Suresh Narasimha, co-creator of CoCreate Ventures, will anchor this pavilion.

Mobility Pavilion: This pavilion will showcase innovative startups transforming transportation with advancements in electric vehicles, battery technologies, smart traffic systems, and sustainable public transport. It will be anchored by EaseMyTrip’s Rikant Pittie; Bounce’s Vivekananda Hallekere and Adrian Schmidt, cofounder and CEO of Sarla Aviation.

Accelerate your startup’s growth! Join 3,000+ startups at Startup Mahakumbh 2025.

The post Startup Mahakumbh To Bring 50K+ Attendees Under One Roof To Shape Startup India@2047 Vision appeared first on Inc42 Media.

Candere means shine in Latin. When Rupesh Jain graduated in software engineering, he wanted to make the best use of his knowledge in technology and his exposure to the evolving market dynamics to brighten up the jewellery business that was transported to his genes by legacy. 

It is this tradition that’s passed down the generations, making India unique in its culture of business by legacy. More than a trade, jewellery is a part of heritage in India, with its roots running deep into our customs, rituals, beliefs, and prosperity.  

The exquisite craftsmanship with precious metals and unmatched artistry with sparkling stones have helped India corner over 24.21% of the $354 Bn global jewellery market. The $89.65 Bn Indian jewellery market stays the course to reach $124.70 Bn by 2030, averaging a 5.7% annual growth rate. 

The traditional Indian jewellery market is still dominated by brick-and-mortar stores, accounting for 85% of total sales. Although it was initially a tough turf war for online ventures to create space in such a market, the entry of ecommerce in the space threw up fresh challenges for traditional outlets. 

“I saw traditional jewellery stores face challenges such as high operational costs, restricted growth and a change in customer behaviour. I realised that with ecommerce, new channels could be opened, and our jewellery could go to a much larger base,” Jain says. 

Hailing from a family of jewellers, Jain grew up observing the sheer creativity that goes into the making of a piece of jewellery. “Candere came out of the union of my experience and my passion for innovation.” 

In a freewheeling interaction with Inc42, Jain talks about his journey of bringing up Candere and eventually handing it over to Kalyan Jewellers for over 300 Cr valuation He talks about his insight into the Indian ecommerce market, challenges in retail business, and how the omnichannel strategy has helped him raise his brainchild to a leading ecommerce player for jewellery in India. 

As the conversation advances, Jain also shares his vision for the next venture and his blueprint for making luxury jewellery affordable. 

Here are the edited excerpts from the conversation…

Inc42: Growing up in a family of jewellers, you were immersed in the world of gemstones and craftsmanship from an early age. How did this legacy influence your perspective on the business and shape your entrepreneurial journey?

Rupesh Jain: Born into a family of jewellers, I was immersed in a world of sparkling gemstones and intricate craftsmanship from an early age. The artistry involved in creating jewellery and the joy it brings to its wearers became an integral part of my life’s narrative. 

In 1975, my parents made the bold decision to relocate from Rajasthan to Mumbai. This move, while filled with challenges, marked the beginning of an inspiring entrepreneurial journey. With unwavering dedication, they built a jewellery business from scratch, facing numerous hardships along the way.

Our family jewellery business, nestled in the bustling Malad area of Mumbai, specialises in a wide array of gold jewellery, including rings, earrings, and mangalsutras. In an industry that’s constantly evolving, my family has shown remarkable resilience by learning from emerging trends, innovating designs, and adapting to a fast-changing market. Their journey has been my greatest inspiration, shaping my values, discipline, and work ethic.

For me, jewellery transcends its physical form; it’s an emotion, a cherished memory, and a piece of heritage. I’ve witnessed firsthand the painstaking effort that goes into creating each piece. My family worked tirelessly to create pieces that would become part of one’s most cherished moments. 

This dedication to craftsmanship and attention to detail has been a cornerstone of my business philosophy.

Inc42: While your entry into the jewellery business was expected, given your family’s legacy, the real surprise was how you chose to transform it. What made you take the ecommerce route, and what was your thought process behind this shift?

Rupesh Jain: As years passed, I saw that traditional jewellery stores were grappling with soaring operational costs, stunted growth and evolving customer behaviour. I realised that with ecommerce, new channels could be opened, and our jewellery could go to a much larger base. That’s what encouraged me to launch Candere. 

For me, Candere was never just about making money — it was a way to honour my family’s legacy. At Candere, we built a bridge between tradition and technology, past and future, jewellery and emotion. My deep understanding of jewellery enabled me to shape Candere into a platform that seamlessly blends the convenience and transparency of ecommerce with authenticity and personalisation — all from the comfort of one’s home.

As I had the right exposure, it helped me understand what customers really want – be it concerns about the authenticity of products bought online or the need for customised jewellery. I built Candere while keeping these insights in mind to offer a seamless, customer-friendly online shopping experience which was backed by a trusted network of suppliers, artisans, and designers that promised high-quality craftsmanship at competitive prices.

I saw the market trends and focussed on contemporary, lightweight, and personalised designs, keeping Candere at the forefront of the online jewellery revolution. 

While most brands focused on wedding jewellery as a segment at this point in time, our focus was on everyday jewellery and this really helped us connect with our consumers. Also, trust has been at the heart of Candere. My family’s legacy in the industry reassures customers that they are buying genuine, high-quality pieces. 

Inc42: Take us through Candere’s journey — what were the biggest challenges in building the brand, securing the first investment, and ultimately leading to its acquisition by Kalyan Jewellers? How did you navigate your exit from the company?

Rupesh Jain: It was my out-of-the-box thought process with which I decided to explore ecommerce. It was clear that if we keep creativity and fresh perspectives at the core of our business, we can redefine the scope of the market and stay ahead of our competitors. With this idea, we built Candere, bringing high-quality luxury jewellery to customers in the most seamless way possible. 

For the first few years at Candere, we focused entirely on building a strong digital presence using social media, reaching out to our customers first and making them feel valuable. As we progressed, orders started trickling in and that too not only from India but even from abroad. After building a sustainable presence online, Candere raised its first angel investment round in 2015 from Brijesh Chandwani and Subram Kapoor and its second round in 2016 which accelerated our expansion. 

The inflow of funds allowed us to improve our technology, work on our core infrastructure, and widen our product range. 

From that point on, building Candere was no longer just about survival or being an accessible alternative — it became about growth and innovation. We expanded our collections, introduced fresh designs, and invested in cutting-edge technology to enhance security in payments and improve UI/UX. Additionally, we partnered with leading logistics providers to ensure a seamless and delightful experience for every customer.

The year 2017 was a landmark period for us when Kalyan Jewellers saw potential in Candere and partially acquired us. The partnership meant access to Kalyan’s vast resources, craftsmanship, and network, while Candere continued to operate independently with the same ethos and customer-first approach. With Kalyan’s support, we scaled our revenues from INR 7 Cr in 2017 to nearly INR 150 Cr in 2024. We expanded our jewellery collections, introduced customisation options and flexible payment plans, and made fine jewellery more accessible to a wider audience. 

As my role as a founder evolved, I took on greater responsibilities, concentrating on business expansion while preparing for a seamless exit. To facilitate this transition, I ensured a smooth integration of both companies’ cultures, values, and visions without compromising the essence of what made Candere a unique brand. Once this alignment was in place, I shifted my focus to scaling operations, entering new markets, diversifying our product range, and strengthening our online presence.

But, perhaps the most emotional aspect of this journey was preparing Candere to move ahead without me. During my last days with Candere, I mentored my key team members to take on important leadership roles, shared insights and experiences to keep the essence of the company intact, and created a knowledge base for future teams to learn from. I also think there couldn’t have been a better outcome for Candere where Kalyan Jewellers acquires Candere and takes it to the next phase of growth from here.

Inc42: What were the key lessons you took away from your journey with Candere? How did they shape you as a founder?

Rupesh Jain: Perseverance, adaptability, and trust – these are what the journey of building Candere has been all about. It shaped me both as an entrepreneur and an individual. One of the most crucial lessons I have learned while building Candere is the importance of adaptability. I learned that a key differentiator between successful companies and those who fail is the capacity to adapt, alter, and pivot. 

Candere helped me realise that business is about people and their feelings and not mere data and making profits. We focused on selling emotions and memories, and not just jewellery, by keeping innovation at the centre of it all. I realised that every leap of faith – from introducing novel designs to experimenting with technology – helped to mould Candere into what it is today.

Building a strong team was also crucial for a successful brand and we achieved it by trusting the right people. I have discovered that having proper people is not enough to achieve success – you also need to empower and trust them. 

After we collaborated with Kalyan Jewellers, I learned that strategic partnerships can accelerate growth and can be key enablers to achieve desired results. 

And last but not least, staying true to your vision helps. Candere could achieve what it did because we never compromised with our vision. 

Inc42: With jewellery being a high-involvement purchase, do you believe an omnichannel strategy is essential for success, or can purely online or offline models thrive?

Rupesh Jain: Omnichannel strategy enables consumers to explore the products on the internet and walk into the shops to try them before they actually make the purchase. The approach broadens the consumer base of the brands because those who want to shop physically can experience the jewellery in person, while tech-savvy consumers can buy it anytime from anywhere.

The omnichannel strategy also helps build deeper connections and loyalty since it is targeted at both online marketing platforms and in-store activities, coupled with one-to-one engagement with the customer. 

The integration of technology also equips the jewellers with the ability to monitor inventory levels across all stores, process orders efficiently, and minimise overstocking and stock-outs.

Brands like BlueStone and CaratLane have launched their physical stores to offer a ‘try before you buy’ experience to its users. And then you also have Lenskart which has mastered this strategy in the eyewear segment with its huge offline network providing smooth online as well as offline experience to its customers. 

But the omnichannel approach comes with its own challenges. Combining online and offline systems can often be complicated, brand messaging can differ across platforms, and inventory management across channels can be a major stumbling block. 

To overcome this, brands need to invest in strong tech infrastructure such as CRM, marketing automation and inventory management software, create a single brand strategy across channels, and adopt an advanced inventory tracking system to harmonise stock levels across stores and online channels.

Inc42: Traditional jewellery retail involves significant overhead costs, whereas ecommerce eliminates many of these expenses. How does this impact unit economics and overall profit margins?

Rupesh Jain: When it comes to profit margins, the jewellery industry is known for its attractiveness, as margins can vary from 5% to 50%. For gold jewellery, the margins remain the lowest – from 5% to 15% – depending upon the purity, design complexity, and brand premium. 

While diamond jewellery has higher margins due to the cut, carat, and rarity of diamonds, the lab-grown diamond jewellery segment boasts a profit margin of 15% to 40% due to lower costs when compared to mined diamonds. These margins are influenced by government policies such as GST, supply chain efficiency, and consumer demand trends.

Factors such as overhead costs, scalability, and customer experience affect profitability when comparing ecommerce platforms with traditional retail models. 

Physical retail stores require significant investments in infrastructure, utilities, maintenance, and providing a tactical shopping experience but online platforms eliminate those expenses by offering lower overhead costs and higher potential for scalability. 

As a result, online jewellery stores operate on higher margins, provided logistics, operations and marketing expenses are well managed. However, the personalisation that physical stores offer is second to none. 

Inc42: You just mentioned lab-grown diamond jewellery as an emerging segment. How do you see this trend shaping consumer preferences and redefining luxury jewellery?

Rupesh Jain: The market for lab-grown diamond jewellery is expanding quickly due to growing customer awareness of cost, ethical sourcing, and sustainability. The market size of lab-grown diamonds in India was $0.3 Bn as of 2024 and by 2032, it is set to hit $1.2 Bn. 

There are several key market drivers for this trend. First, the growing sustainability trend means consumers today are prioritising sustainability and ethical sourcing in their purchases. Lab-grown diamonds eliminate the need for mining, reducing environmental impact and making them an eco-conscious alternative to natural diamonds. 

Second, cost-effectiveness is a major factor. Unlike natural diamonds, which come with high mining and supply chain costs, lab-grown diamonds are significantly more affordable. This affordability makes them an attractive option for price-conscious buyers who want luxury without the hefty price tag. 

Last, technological advancements have played a crucial role. Innovations in Chemical Vapour Deposition (CVD) and High Pressure High Temperature (HPHT) methods have enhanced the quality, clarity, and availability of lab-grown diamonds. These advancements ensure that lab-grown diamonds are visually and chemically identical to natural ones, making them widely accepted in the market.

The expanding online presence and ecommerce growth is another significant opportunity. The rise of ecommerce platforms has made it easier than ever for consumers to explore and purchase lab-grown diamond jewellery. Digital-first brands are leveraging technology, AI-powered customisation, and virtual try-ons to enhance the shopping experience. 

Custom-designed jewellery is on the rise, and lab-grown diamonds offer more flexibility in terms of size, cut, and design options. Consumers now have the ability to personalise engagement rings, pendants, and other fine jewellery at a fraction of the cost of mined diamonds.

Inc42: As a seasoned entrepreneur in the jewellery industry, what unique insights are you bringing into your lab-grown diamond venture that will set it apart from existing players?

Rupesh Jain: Well, I am starting a new journey that aligns with my passion for accessible luxury, innovation, and sustainability after decades of involvement in the jewellery industry. I plan to redefine the future of luxury – where responsibility and beauty coexist – instead of simply creating exquisite jewellery.

My main focus will be to make lab-grown diamond jewellery more accessible with its sophistication and quality at a fair price using environmentally friendly manufacturing and ethically sourced material. 

We will present a unique character of lab-grown diamonds through modern and innovative designs. To create distinctive pieces that challenge norms, we will collaborate with young designers and artists and also invest in educating through influencers and empowering consumers to make ethical choices before purchasing lab-grown diamonds.

This venture is a step towards ethical luxury and not just a business. My mission remains crystal clear as I set out on this amazing journey — to build a world where beautiful jewellery is not only beautiful but also ethical, green, and accessible to all.

The post Rupesh Jain On Candere’s Disruptive Growth And His Next Big Bet In The Jewellery Space appeared first on Inc42 Media.

One of the major contributors towards the success of ecommerce in India has been cash on delivery (COD), which has imbibed a sense of security among customers that they won’t lose their money online while shopping. 

Nearly two decades later and despite the availability of multiple payment options, including UPI, many still prefer to pay for their online purchases when they arrive, even if it means shelling out an extra few bucks. 

An IIM-Ahmedabad study shows that over 65% of ecommerce transactions in India are CODs. It further highlights that the country’s fast-paced ecommerce space, which is likely to surpass $400 Bn by 2030, has failed to reduce this high rate of COD orders.

So, why are we discussing it now — after more than a decade-long entry of ecommerce in India. Well, the answer to this is simple — this mode of payment has today become a pain point for smaller D2C businessmen, who are most vulnerable to cancellations, high return rates, and undelivered products. 

Not just this, CODs also increase operational costs and delay cash flow, making it difficult for newer brands to scale. 

Despite a sustained spike in digital payments, this trust gap could not be bridged. And, this is where Simpl found the sweet spot. 

The fintech startup drew its inspiration from the traditional khata system when Nitya Sharma founded the company in 2015, which lets you make payments with just one tap on your phone screen without debiting your account on the spot. 

“Simpl simplifies the ecommerce experience for consumers with a one-tap checkout experience,” says Sharma, cofounder and the chief executive officer of the startup. 

“When I saw the clear trust gap between consumers and ecommerce platforms, I realised that people wanted to go cashless, yet they were opting for CODs just to feel more secure. With Simpl, we are bridging this very gap – trying to unlock the true potential of Indian ecommerce,” he adds. 

In a candid interaction with Inc42, Sharma shares how Simpl works to improve the experience of online shoppers, new products the company is working on, how it is using advanced neural networks in its operations and, last but never the least, how it is solving crucial business problems while balancing the stringent fintech regulations in India. 

Here are the edited excerpts from the conversation: 

Inc42: Given that 65% of ecommerce transactions in India still rely on cash-on-delivery, how Simpl aims to shift this paradigm and build trust in online payments with its digital khata?

Nitya Sharma: When I came to India after over a decade in the US, two things happened: First, I got rejected for a credit card which made me realise too few people here have credit cards, and second, nothing on Indian ecommerce is one click because 70% of ecommerce transactions were happening through cash-on-delivery. 

I understood that people use cash-on-delivery because they feel safer about an online transaction if they have to pay after the delivery. It was not about cash, but more about trust and safety.

I knew that in a place like India where credit cards are still out of bounds for the most, despite the tech adoption, there lies an opportunity to reimagine the space by focusing not on credit, but on user experience, and making ecommerce transactions more trustworthy. That is how the first idea of building Simpl came to me which solidified when I observed that many Indians, including a large chunk of the reasonably affluent population, were using khatas with their retail vendors. 

It occurred to me that khata is this very original version of a credit card and it’s been there for thousands of years in India. We Indians use khata because it allows the retailer to build a relationship of trust with their customers, while for the consumer, it is about a seamless experience. 

Using khata allows the consumer to cut out any payment instrument as it allows them to skip payments altogether, and have that experience of nothing. That gave me the idea of building a khata on the internet which became the foundation for Simpl. While it looked difficult to implement, I knew that if we used the right design and backed it up with a lot of data science, great engineering, machine learning, and so on, there was a probability of working. 

While I was prepared to fail, I knew that it was worth trying because if we were able to build a khata on the internet, it would change the payments forever.

Inc42: Your online khata is now known in the market. What’s your growth strategy for Simpl from here on? Any innovation or any new product on the cards? 

Nitya Sharma: We do not work out our strategy for vertical expansion but for horizontal growth. We always look at two things – acquiring more merchants and more consumers. 

On the product side, we have quite a few innovations which we’ve been working on for a long time. One of our new products is ‘Pay In 3’ that allows you to split your payments into three equal parts. We have positioned it not as an affordability product, but as a budgeting product. It’s a crucial trend we have seen in the Gen Z consumer category. They distinguish between affordability and budgeting. 

Budgeting is more about smaller ticket sizes, typically the things which are under INR 6,000, but people buy more frequently. These are like fashion items, beauty and personal care products, and health and fitness essentials. 

We work with a bunch of D2C brands focussed on Gen Z such as Myntra’s Forward or Snitch or Birkenstock. While paying through Simpl, you can simply say, ‘Hey, I want to split this transaction to three’. We are excited about Pay In 3 and we have seen massive adoption from merchants and consumers because it is a unique product and no one is doing this. 

Second, we also have millions of consumers on our platform and the majority of them are very high-quality trusted users. So, let’s say someone is using a lot of khata and paying it back on time, it means that they use a lot of ecommerce and they can be trusted. We are building a lot of interesting features inside our app to help D2C brands discover such consumers.

As of now, D2C brands have limited marketing channels, such as Meta and Google, to reach out to their target audience, which often prove too expensive and sometimes, not even relevant for the target audience. On Simpl, we have built an ecosystem in which users can discover new brands when they use our app and are then redirected to their respective online stores. During its pilot, we have seen massive consumer acquisition. 

We are also working with merchants to build a loyalty reward platform where these customers can be rewarded.

Inc42: Quick commerce is growing at a staggering pace and occupies a big chunk of the ecommerce market. How is Simpl tapping into this opportunity? 

Nitya Sharma: We are very excited about the future of ecommerce in India and how it is moving towards quick commerce because our khata is a perfect product-market fit for quick commerce. We work with all the major ecommerce and quick commerce platforms like Swiggy, Zomato, Zepto, MakeMyTrip and BookMyShow, besides 26,000 more merchants and almost 10% of users of these platforms use Simpl. 

If you are using these platforms multiple times a day or a week, using Simpl would be like using a khata or a credit card. It will aggregate everything into one bill that you can pay off on a specified date. 

We are also working very closely with quick commerce companies that are about to enter the market and that is very important for our growth and innovation. 

Inc42: How is Simpl integrating AI into its services?

Nitya Sharma: Building khata on the internet was not an easy task. Today, Simpl is the largest platform in this category in India and the third largest platform in this category globally after Klarna and Affirm. It took us 10 years to get here. The whole idea of giving the user a great experience with one click and pay later is a great thought but to execute it with a business profitability is extremely hard.

The most difficult part is building the AI models, or as we call them graph neural nets, which work like a human brain. That is something that we have built from scratch and have been using and improving since the last decade. 

We have also started using generative AI for our customer support to provide the ecommerce user a trust that if you use Simpl to buy something and it goes wrong, Simpl will take care of it. A customer can reach out to our customer support vertical if something did not get delivered or it was defective or if they have a dispute with the merchant. We believe that customer support should be real-time and we have been achieving this using AI agents since last year. 

Inc42: As an ecommerce enabler, what makes you most excited about an industry that’s set to cross $400 Bn by 2030? Where do you position yourself in this spectrum?

Nitya Sharma: The potential of ecommerce in India is still underappreciated. When compared to developed markets like the US and Europe, where the total percentage of consumer retail on ecommerce is over 30% and 40%, in India, it is still at 7%. 

Even in emerging markets like Brazil, ecommerce sales account for 18% of the total consumer spending, while in Indonesia, this goes to the high 20s. In China, it is north of 50%. So, while India’s ecommerce market share is smaller, the exciting thing for us is that this will become bigger and hopefully soon. But to make that happen, we will need to make the shopping experience for online consumers smoother, which cannot be achieved just by easy payments or quick deliveries, but by building trust.

For now, out of those 7% of consumer spending happening online, 65% happens over COD, and that is our problem. But I am very excited about our positioning here and we are focused on how to make one-click checkouts a norm and build trust in that transaction. There is an opportunity for us to not only be a part of ecommerce but catalyse its growth by cutting down on CODs as much as possible. 

We are also bullish on the quick commerce scene in the country and, as I said, we have a 10% market share of all the transactions on quick commerce, a chunk bigger than any of the individual payment categories. D2C is another great value driver for us and we are working very closely with all the D2C merchants and D2C participants to make ecommerce easy, safe, and simple.

The post Nitya Sharma On Reinventing The Khata For Ecommerce appeared first on Inc42 Media.

What do Groww, Zerodha and Dhan (part of Raise Financial Services) have in common? Well, almost anyone can answer that. All of them are leading discount broking startups which have taken stock trading to the masses and never failed to intrigue the new generation of retail investors, redefining a traditionally conservative Indian wealthtech market. But there is another link. 

Around 80-85% of their revenues come from futures and options (F&O) traders, a highly speculative and leveraged stock market segment. Even an industry-leading full-service brokerage like AngelOne reportedly gains around 84% of its earnings from the F&O segment.

The flip side of this narrative is far from lucrative. Globally, India is the largest derivatives trading market. However, a study by the capital market regulator SEBI revealed that 93% of individual traders incurred losses in equity F&O between FY22 and FY24, and their aggregate losses exceeded INR 1.8 Lakh Cr.

Despite these odds, F&O trading is India’s fastest-growing sector, with a surge in retail participation. The question is: Why do so many continue to trade where success seems statistically improbable? 

“It’s because 90% of these traders tend to pursue quick money. In the process, they trade excessive amounts of leverage and highly risky and volatile instruments without knowledge about the market,” rued Parang Mehta, who, along with wife Geetanjali Shroff, set up the digital trading, research and advisory platform Stockwiz to empower new and veteran retail traders and investors.

For context, futures and options are financial contracts (derivatives) between sellers and buyers that involve speculations on future price movements of an underlying asset (securities, commodities, market indices, currencies and more). Of course, there are ways to hedge price volatility and realise relative gains. But the stakes could be high when people try to predict the price movement without understanding intrinsic valuations. 

To ensure effective strategies, faster trading and requisite knowledge, SEBI-registered Stockwiz offers one-click automated trading powered by AI-ML (more on that later), deep market analysis backed by research and real-time data, access to an active trading community and a suite of trading courses. All its products and services are rolled into a VIP membership package. It charges INR 9,999-19,999 as subscription fees for six months to one year and claims to serve more than 20K paid users.

Stockwiz is backed by iStart Rajasthan, the state government’s initiative to foster startup innovation. The bootstrapped venture initially invested INR 1 Lakh and clocked INR 3 Cr in revenue in FY24. Now, it eyes a 10x jump in the current financial year.

The Seeds Of Stockwiz And The Eureka Moment

Not all startup ideas come from the dorms of IITs and IIMs or the Gen Z college dropouts because the entrepreneurial bug has bitten them too early. For the 27-year-old Mehta, who hails from a family of doctors, the love for the capital market is a self-acquired passion. An MBA degree holder in finance, he was through with the CFA certification Level II. But neither academic training nor his exposure to trading could prevent losses – INR 25 Lakh in four years.

The tipping point came during his training in Sydney when he dived deep into systematic trading, wherein investment decisions are based on algorithms generated through market data analysis. Whenever these pre-set parameters are met, trade is executed automatically, minimising human errors and ensuring consistent strategy executions for various market conditions. 

“Finally, I understood that 90% of success was discipline and systematic trading. I returned to India, started trading and had my first profitable week, month and year,” said Mehta.

 Soon after, he started mentoring people online and earned lakhs. The business thrived until December 2022, when he took a month off for his wedding. His wife, Geetanjali, held a master’s degree in marketing and finance and handled B2B sales for ITC Hotels, which fitted well when she decided to explore the markets. 

During that break, the couple tested several channels on Telegram and WhatsApp for trading tips, but the experience was chaotic. Tips were lost in the noise, and prices were too high when they executed trades. Exit signals got buried, and outcomes were always poor. 

When impersonal, haphazard support fell short, they understood that an end-to-end solution and a tailored approach would be needed to meet people’s requirements. In January 2023, Stockwiz emerged as a community-driven, tech-powered F&O ecosystem.       

How Stockwiz Built A One-Stop Destination For F&O Traders

In the complex world of derivatives trading, where most retail traders chase profits without the tech tools and knowledge, Stockwiz aims to integrate operations and experiences to bridge the critical gap. 

Realising that cutting-edge technologies like AI-ML and automation could transform end-to-end F&O trading, the founders built a seamless, technology-driven platform that provides real-time insights into market trends, automated trade executions and robust risk management – all under one roof. 

Here is a deep dive into four differentiated features that make Stockwiz stand out.        

• Stockwiz’s Stryke app uses AI-ML to scan high-performing stocks, track high-impact news items, and offer one-click trade executions. The fintech firm uses GPT-4 and Gemini for automatic stock scanning, and in-house analysts review the output before any research is shared with clients. Stockwiz uses 100+ data sources and more than 1 Mn data points to refine its trading models. 
• Team trades live every day alongside its members, providing them with real-time market exposure to hone their skills. These live interactions create a dynamic learning environment and foster a deeper understanding of trading strategies.   
• Unlike brokerages focussing on retail trading, Stockwiz focusses on capital preservation and steady returns, drawing inspiration from institutional strategies. It also trains people through courses, seminars and workshops.
• With more than 20K active members, the platform enables traders and investors to connect and collaborate with like-minded people. “This community-driven model is central to Stockwiz’s growth. Many of our competitors have followed suit after seeing how powerful communities are for retention and value addition,” the founders said. 

When iStart Played A Key Role In Optimising Product Design & Team Building 

Asked about the driving forces behind Stockwiz’s impressive growth, the founders mentioned the pivotal role of iStart Rajasthan. “It has been incredibly supportive,” said Mehta. “We were introduced to Raunak Singhvi, a mentor and advisor, through the initiative. His guidance was invaluable during early growth as we found the product-market fit and fine-tuned our tech offerings.”

Backed by the Rajasthan government, the programme has been designed to promote local startups, attract investment and generate jobs across the state. But for Stockwiz, it was more than a support system. The catalyst shaped Mehta’s vision and expertise into a thriving business. The founders also lauded iStart for helping the startup scale quickly.

“We were mentored in crucial areas like operations, product design and team-building,” said Mehta. “Although we chose not to seek financial backing, preferring to remain bootstrapped at this point, a lot of insights, feedback and advice came our way. It gave our business the proper direction and helped refine our business strategy.”

Can Stockwiz Drive F&O Growth?

A quick look at the Indian capital markets reveals both challenges and opportunities. Consider this. Per an ICICIDirect report, the country’s monthly F&O turnover reached a record INR 8,740 Lakh Cr ($1.1 Tn) in March 2024, a phenomenal surge from INR 217 Lakh Cr (about $27 Bn) in March 2019.

Again, the country’s stock market wrapped up in 2024 with an impressive 10% gain despite heavy selling by FIIs. Overall, they sold INR 2.96 Lakh Cr, again a record selling in a year. That the market thrived despite this capital drain was solely due to the rise of a new hero – the retail investors. As Stockwiz is going all out to target them for the futures and options space, it shows the startup’s readiness to embrace upcoming opportunities.

But here is the flip side. The Indian stock market is strictly regulated, and innovating in this sector comes with challenges. Stockwiz needs to focus on its growth, but being a SEBI-registered entity, it has to comply with all applicable norms for a smooth run ahead.

According to Mehta, the startup has compliance and grievance officers in place, internal systems and controls for the segregation of other business activities and strict firewalls to protect traders and investors. Additionally, it has an external auditor and an in-house compliance team managing the entire compliance scenario.  

Nevertheless, Stockwiz is not putting all its eggs in one basket, given the fast-evolving regulatory scenario and how fintechs must scramble to cope. Instead, it aims to venture into wealth management this year and eyes INR 100 Cr in assets under management (AUM). More products and services, especially in areas like portfolio management, smallcase, algo/speed trading, mutual fund distribution and global investing options for Indians, are in the pipeline. 

The fintech will charge variable fees for these services, which may help it surpass the INR 60 Cr revenue mark in FY26. “Our product timeline until 2027 is already planned, and we will move accordingly,” said Mehta.

“In the long run, we will launch products and services designed for non-traders or investors who can trade like professionals and participate in the India Story 2050, where we may see this century’s greatest wealth creation opportunity.”

As of now, the vision is clear: To make professional-grade trading and investing tools accessible to all at an affordable price and prepare to emerge as a driving force in the financial revolution the country is set to experience in the coming decades.

The post How Stockwiz Is Leveraging AI To Democratise F&O Trading For Retail Investors appeared first on Inc42 Media.