Rohit Khandelwal

Buying gold / silver coins on the auspicious occasion of Akshaya Trithiya come under low frequency - low complexity purchase category. It is a seasonal product bought generally during specific occasions. Zepto Blinkit Swiggy lapped up this opportunity and started selling this with the benefit of quick delivery. No wonder the sales picked up quite well. I wonder how much would it have impacted the sales of larger eComm players. Sales trends from swiggy is already out. I am sure the trend will be similar for Zepto - Aadit Palicha and Blinkit - Albinder Dhindsa I detailed out this approach and more in my notes - https://lnkd.in/gBmvVKy2

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Zepto entering BNPL. I generally hate how startups see lending as a go-to strategy for growth - whether it is B2B marketplaces / manufacturing aggregators to Quick commerce (especially given the organic growth happening). I often wonder if it really enables true demand or ends up unduly inflating it only to bring it all down during downturns. But, in this case, I slightly differ. Consumers have historically enjoyed extended monthly settlements from their local grocers - remember, hisaab me likh lena! BNPL for Zepto eliminates another friction for customers in buying grocery online.

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🚀 Swiggy Set to Make Waves with ₹11,300 Crore IPO: Key Details and Market Implications 🌐 Swiggy, India's food delivery giant, is set to go public with an IPO launching on November 6, 2024, aiming to raise around ₹11,327 crore (~$1.35B). Shares will be priced at ₹371-₹390 each (around $4.64), with trading expected to start on November 13, 2024. IPO Highlights: Price Range: ₹371-₹390 per share Funds Allocation: Expanding logistics and quick commerce operations This IPO is launching amidst rising tech-driven competition in India’s market. By securing capital, Swiggy plans to advance its quick commerce capabilities, aiming to gain a strategic edge over competitors like Zomato. Market Impact: Swiggy’s IPO offers a unique investment opportunity with strong growth potential, balancing between established dominance in food delivery and quick commerce expansion. Investor Insight: With a grey market premium around ₹25, sentiment is optimistic. As Swiggy steps into the public sphere, it's poised to redefine India's fast-paced delivery ecosystem. #IPO #SwiggyIPO #Investment https://lnkd.in/eyHRRPXh

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India’s Oyo, once valued at $10 billion, is finalizing new funding at a $2.5 billion valuation. This marks a steep decline from its $10 billion valuation in 2019. The startup, which has raised over $3 billion from backers like SoftBank, Peak XV Ventures, Lightspeed, Airbnb, and Microsoft, has struggled to attract institutional investors. In recent months, it has aggressively pitched to high-net-worth individuals after withdrawing its IPO application twice in the past four years. Once a red-hot Indian startup active in markets including the U.S. and Europe, Oyo has now scaled back its international presence. #venture #downround https://lnkd.in/gE2GjYnM

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Simple Takeaways from Meeting with VC Anup Jain At Startup Mahakumbh, recently talked with Anup Jain, a well-known VC. We discussed how VCs decide to invest, especially in places like Bihar VCs help startups grow by giving money and advice. In Bihar, they want to make a difference and help the economy grow. Looking for teams that can solve big problems and are excited about their work. VCs who understand Bihar are important for the state’s startup growth. Bihar is becoming a great place for startups, and at AbhiCares, I’m excited to be part of this change. #BiharStartup #StartupBihar #AbhiCares #StartupMahakumbh

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Q-Commerce overtaking traditional e-commerce? Currently we are seeing a big boom in terms of the different SKUs being sold in Quick commerce apps like Zepto, Blinkit, etc. - Atomberg Technologies 's fans - Sony's PS5 - Samosa, Chai and what not - Digital Gold from Jar! Zepto is in talks to raise $300m for its broader ecommerce play. While Swiggy is preparing to file for an IPO this year, incumbent Flipkart is readying its entry into quick commerce. Zomato has invested $240 million in Blinkit over the last one year. Taking a step back, the lines between quick commerce and traditional e commerce have started to become increasingly blurred with QCom pretty much catering to every needs! Also, multiple reports suggest that QCommerce can potentially become bigger than traditional e commerce in India!  Case in point : According to Goldman Sachs, the valuation of Blinkit is greater than Zomato's core food delivery biz! Non-grocery boom in Q-Commerce: Categories including beauty, toys, health and electronics are witnessing robust sales growth on quick-commerce platforms overall. While the overall base for the new categories is still small, aggressive expansion by these players is starting to ensure a dominant presence for these categories. Plus AOV is higher which also comes with better margins, making it a win-win! Case in point: Zepto - 2x sales MoM in segments such as toys and electronics accessories - Beauty category expanded 3x QoQ - ~15% of Zepto’s $1.2bn annualised gross sales currently comes from non-grocery products (Source: Goldman Sachs) For several D2C quick commerce has become the fastest growth channel as well as the platform with highest customer engagement This is definitely a positive for the consumers and the Q-Commerce players, but is everything on the up and up?   As the demand for space on quick-commerce platforms skyrockets, niche D2C cos in segments like FMCG, beauty and personal care, and health and fitness are agreeing to pay a 30-45% commission on sales, besides shelling out on advertising and discounting on these Q-Com platforms. On top of the commissions, brands are also regularly spending around 20% of their total sales on ads on the platforms, and discounting their products by about 20-25% (totaling 60-70% revenue!). This is in stark contrast to the 10-20% commission that large FMCG cos pay these platforms reflecting the intense competition for visibility. The brand's scale and comparison with competitors are crucial considerations when it comes to new listings. On the positive side, smaller D2C brands have seen 40-60% total revenue coming from Q-Commerce compared to ~10-20% from traditional ecommerce, which is surprising! Essentially, Q-com currently has a BIIIG Bargaining power against new D2C brands and can essentially make or break their businesses! Is this sustainable on the long run? #ecommerce #quickcommerce #india #zepto #businessmodel #d2c #startups #LIPostingChallenge

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Do you know Groww, Razorpay, Meesho and Zepto are YC companies and right now they are killing in their markets. As Y Combinator announced their YC S24 batch and there are 100+ companies which gets selected, So firstly congratulations to all the S24 Y Combinator startups. Do you want me to do in-depth analysis of 82 YC S24 batch companies? Analysis would include startup selected in which industry, country wise, Indian YC S24 companies, their Indian existing competitors etc... So that you can get aware about industry trends and can also use their awesome products in your daily life. P.S. If I got 100 likes on this post, I will make a video on the same and post it here only. #yc #startup #funding #s24 #entrepreneurship #business #genai

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Today marks an incredible milestone for us at Inflexor Ventures as we proudly announce the 𝐟𝐢𝐫𝐬𝐭 𝐜𝐥𝐨𝐬𝐞 𝐨𝐟 𝐨𝐮𝐫 ₹350 𝐂𝐫𝐨𝐫𝐞 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐅𝐮𝐧𝐝. This isn't just a number—it's a symbol of our steadfast commitment to empowering founders who are ready to amplify their proven potential and take their vision to new heights. In my journey from being an entrepreneur to a VC, I've witnessed firsthand the critical juncture where vision meets opportunity. The Opportunities Fund is designed to be that bridge—supporting visionary founders who have already proven their potential and are ready to scale further and faster. To all the founders who trust us with their stories and growth, thank you for your resilience and ambition. You inspire us daily to be more than just investors; you motivate us to be partners who champion your vision and share in the challenges and triumphs of building something extraordinary. Our heartfelt gratitude goes out to HDFC AMC Select AIF FoF I scheme and our other valued limited partners for their trust and belief in our mission. Your support fuels our drive to not just invest in ventures but to become true partners in the journey, championing innovation and resilience every step of the way. I also want to acknowledge my colleagues, whose dedication and expertise drive us forward, and the wider ecosystem that plays an essential role in making ventures thrive. This milestone wouldn’t be possible without each of you contributing to this vibrant network of progress. To the entrepreneurs who dare to dream, build, and inspire: your determination is why we do what we do. We are honored to walk alongside you in navigating the exhilarating journey of scale and impact. Here's to nurturing more stories of growth and innovation as we embark on this exciting chapter together. Venkat Vallabhaneni, Jatin Desai, Pratip Mazumdar, Murali Krishna Gunturu, Harsha Mundhada, Parmi Doshi, Aishwarya Kulkarni, Pratik Ahuja, Kirti Chaturvedi, Akhil Nehru, Minal Sequeira, CA Vijay Sundar A N https://lnkd.in/gJUHBZk6 #VentureCapital #Entrepreneurship #OpportunitiesFund #Innovation #Gratitude

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Unicommerce IPO/listing is being closely tracked by Indian SaaS founders and investors alike. It’s perhaps the only SaaS listing after Tracxn in 2022. There are tens of Indian SaaS companies which are already at 100 Cr in ARR or have clear visibility to get there in a few years but aren’t growing fast (> 100% YoY). Most of them have India as the primary market. They always face questions on market size/TAM from early and growth stage investors for their ability to deliver large outcomes ($100M in ARR or more) within 7-8 years In US, there is no “exit path” for such founders/companies except waiting and selling to a strategic. However, in India, you could list at 100-200 Cr in ARR at a good 8-10x or higher ARR multiple and do well post listing if the co. is growing steadily at 30%+ CAGR with consistent improvement in profitability. There is dearth of listed SaaS companies in India vs a market like US where the bar for listing is way higher What does it mean for founders? A) Don’t raise too much capital otherwise not all shareholders would be aligned to this outcome if you decide to pursue it B) For founders who are at a similar scale of ~100 Cr in ARR or will get there soon while being profitable or with low burn, there is a choice between raising growth capital in private market or listing C) Think carefully about domiciling outside of India as the cost and effort of reversing it is very high if eventually you want to list the company in India

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Next steps in India Mobility are continuing to show progress - one of the top investments that continues to show IndiaFirst #ProudInvestor #ProudVC #IndiaFirst #BestLPs

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Indian venture market has exploded. Someone reported that there are 800+ funds/networks/syndicates/ accelerators active in Indian venture market now. Not sure, if that number is correct but if you are an early stage tech founder on your fundraise journey, chances are, you would meet hundreds of people. While majority of the fund houses are doing incredible work and shaping the ecosystem. There are certain kinds of investors you need to identify & avoid to save time and stay focused: Sharing from my personal experience, top 5 such cohorts to avoid and the takeaways for the founders: 1. Data collectors: At early stage, you don't have historical data to present. Your projections are just that, Projections. I wasted one whole week discussing with a prospective angel investor on why the CLTV to CAC ratio is x, and not y. Takeaway: Discuss high level strategic numbers only without going into the details. None of the projections would be accurate anyway when rubber hits the road. 2. Document collectors: Met few folks, who would watch from the fences and ask for n number of documents, data rooms, statements without sharing the purpose of the ask or even revealing their investment intent. Takeaway: It is supposed to be a bi-directional conversation. Say 'no' often, till the time, an official relationship is established. 3. Valuer (! investor): At early stage, valuation is a function of multiple parameters, the opportunity itself, the team, or anything else except steady cash flows, because you don't have much. I wasted another week with a prospective investor trying to justify valuation, had to shut down that conversation, after both of us started quoting Aswath Damodaran and his valuation principles. Takeaway: Too much content on the internet for both parties anyway. Shouldn't be a bone of contention at early stages. 4. Facilitators posing as investors: Met numerous people, who would go to any lengths to pose themselves as serious investors, even buying paid media articles. Only to reveal at the last: The success fee. Takeaway: Avoid facilitators until Series A 5. Brokers posing as market makers: People posing as market makers sharing tons of gyaan on LinkedIn but are actually deal brokers looking to make quick %. Personal experience: Two rounds of conversation happened and then out of blue, they added a third party in the mail trail, someone who facilitates mergers & acquisitions. There wasn't even a single instance in the past conversations where we indicated any such intent. Takeaway: Avoid name & shame in public but at least share within founder communities. #venture #fundraise #startups #investing

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🚀 Is your startup losing time and money due to operational inefficiencies? I recently worked with an Indian footwear startup that’s creating eco-friendly, handmade shoes. What was their challenge? 👉 Production delays and missed deliveries caused by disorganized workflows. 💡 Solution: We identified inefficiencies in their process, aligned their team, and introduced simple tools to track progress and reduce errors. 🎯 Result: - Faster production timelines. - Improved customer satisfaction. - More bandwidth for the founders to focus on growth. The lesson? Efficient operations drive sustainable growth. —-------- Here are 3 frameworks to streamline operations in early-stage startups: 🔍 1. Analyze Your Workflows Start by understanding how each process works. Identify bottlenecks, repetitive tasks, and steps that add no value. Eliminate what isn’t essential. 💡 Tip: Create a visual map of your processes to clearly see where changes can have the most impact. —----------- 📋 2. Improve Team Communication Misalignment leads to delays. Regular updates, clear responsibilities, and open channels for feedback ensure everyone stays on the same page. 💡 Tip: A simple weekly check-in meeting can uncover issues before they snowball. —----------- 🤖 3. Leverage Technology to Save Time Use basic tools to handle inventory, track tasks, and manage deadlines. Automation reduces human error and frees up time for high-priority work. 💡 Tip: Start small with tools your team is comfortable with and expand as you grow. —----------- 💡 This is the 7th of 8 articles in my Startup Success series. Next, I'll be discussing "Building Standard Operating Procedures (SOPs) from the Ground Up." ------------- Hi, I’m Abhimanyu Gargesh and I mentor start-up founders to help them build efficient, scalable systems that support their growth journeys. 🤔 What’s the biggest operational challenge holding your startup back? Share it in the comments—I’d love to brainstorm solutions! #StartupWhisperer #Startups #Mentor #Operations #ProcessImprovement #BusinessChallenges

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Overall Funding Landscape: Total Raised: $5.3B, a slight 1.8% dip from H1 2023, but deal volume is up by 7%. Median Ticket Size: Down 8% YoY to $2.8M but a significant 87% increase from H2 2023. Indian Startup: The Shift in Funding Trends! The first half of 2024 has been quite a ride for Indian startups! I was reading this article early morning, and wanted to share this latest funding report. Debt Funding Surges: Debt investments have skyrocketed to $576M, more than double the $285M from H1 2023. Notable deals include GPS Renewables’ $50M, Bira 91’s $25M from Kirin Holdings, and Ola Electric’s $50M from Alteria Capital. Equity Investments Dip: On the flip side, equity funding took an 8% hit, dropping to $4.7B from $5.1B in the same period last year. and why this trend? Startups are increasingly turning to debt to fuel growth without diluting ownership—a smart move, especially for those gearing up for IPOs like Ola Electric and Mobikwik. The Bright Side: The future is promising for our startup ecosystem with a 15% sequential increase in deal volume and rising investor activity, particularly from venture debt firms like Stride Ventures, InnoVen Capital, and Trifecta Capital. My 2 cents: While these trends signal growth, we must remain vigilant about potential bubbles. Increased debt can be a double-edged sword—fueling expansion but also increasing financial risk. #Startups #Funding #DebtFunding #EquityInvestments #VentureCapital #Growth #Sustainability #IndianStartups #H12024

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Zomato's Q2 results are amazing! and one of the reason for that is it's strategic acquisition, here's what happening... After acquiring Blinkit, zomato acquired Paytm Insider But why is a food delivery company buying a ticketing platform? Zomato is exploring a new domain by acquiring PTM Insider, a leading ticketing platform for movies, concerts, and sports events, for a whopping ₹2,000 crore! Let’s break it down: 1. Zomato’s Vision Zomato aims to become a lifestyle brand and not just a food delivery platform! That's what their new launch 'district' is about. It's a app for everything outdoors Food, Movies, Concerts etc PTM Insider will still operate under PTM, till the next 12 months but then all ticketing services will migrate to District 2. But why did Paytm sell a profitable business? While Zomato is diversifying, Paytm is doubling down on its core business—finance. You might remember Paytm’s recent regulatory troubles, which led to the shutdown of Paytm Payments Bank. This might just be a smart move, allowing PTM to consolidate resources and fortify its position in the fintech space, especially after the recent regulatory hiccups. 3. Zomato’s Growth Strategy: The Bigger Picture Zomato’s Q2 report shows ~5X profits rise since last year But here’s the catch: while Zomato’s food delivery revenue grew by 10%, their acquisition Blinkit surged by a insane 222%! This tells us that Zomato is not just diversifying for the sake of it; they’re strategically positioning themselves in high-growth areas like quick commerce and now, ticketing. To kickstart this Zomato is organizing the “Feeding India Concert” in Mumbai on November 30! Zomato’s dream is ambitious: to become India’s ultimate lifestyle platform. It’s a bold vision that won’t be easy to realize, but if they pull it off, Zomato could redefine how we eat, play, and live. #zomato #acquisition

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Here's one more theme that has played out over the past decade in India SaaS: SaaS companies that sell into India/Asia (non-China/Japan). There's been a reasonably large set of investors in India who have been default no in this category, based on perception of limited TAM and GTM challenges. However, there is reason to be optimistic for this theme (we are!). A reasonable set of companies in the ecosystem have scaled, such as MoEngage, Darwinbox, Capillary Technologies, Yellow.ai, Unicommerce , Gupshup, CRMNEXT, LeadSquared. Companies like Salesforce, SAP etc have reached multi-hundred million ARR in India. As a result, the potential scale from sales in India has grown from the $15-20mm that people used to talk about 5 years back to perhaps $50mm in India, overall $100mm-150mm in Asia. I think we'll see more companies continue to get funded here as IT demand in India/SEA deepens and local requirements (mobile, India Stack, regulations, languages) get addressed. Founders and investors will need to tune into this being a solid path to go but will take longer to get to impact than US/EU-focused companies. Some characteristics we see at India/SEA-facing software companies: * Many start out in SMB but then find scale & success selling into enterprises. India market has a ton of SMBs (10mm+), a relatively light mid-market and a significant set of large enterprises. * Products tend to have feature sprawl and design-deficit but this can be fixed. * Some large sectors that are pulling at enterprise level e.g. BFSI, multi-sector conglomerates. Early traction from digital native companies (but naturally capped market). * Natural to go to SEA & Gulf countries. Product could remain fairly similar but sales & marketing motion can be quite different. To get really large, feels like will have to end up going to US/EU markets eventually. * ~10 years to $100mm ARR, with market leadership in Asia * Gross margins start out perhaps 10-15 points lower than corresponding companies in the US/EU but trend up over time. * Most India-facing SaaS companies are starting as India Pvt. Ltd. today, compared to 5 years ago (versus US C-corp), with a view to going public in India at $50-100mm revenue level.

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There are 247 startups in the YC S24 batch. You’re probably not going to meet them all. So how can you find the best ones? I look at every single startup, meet around 10-20% of them, and invest in perhaps one. Here’s how I do it… YC produces a wonderful tool: the YC Startup Directory. It contains details on every single YC company, from Airbnb to the latest batch. Here’s how I use it to find great new startups: 1. Choose the current batch (S24 is the current one) 2. Sort by “Launch Date” instead of “Default.” Then, I can see each new startup as its product launches.  3. Look at each page, see what looks interesting. What’s novel? What’s new? 4. Contact the founders. Their LinkedIn is on the right hand side of the page. 5. Set up meetings. The directory page is a great way to prep for these meetings. It’s almost like a mini-deal memo. Investors love to complain about YC. “Wahhh, the valuations are too high, I want my mommy!” Boo hoo. They sorted through thousands of companies and picked the best ones. Then they funded them and gave them the best coaching on the planet. The deal is friggin’ gift wrapped for you. And you want that at a $8M post? What do you think of YC? More below, including how to tell which YC companies are the strongest in the batch... #startups #venturecapital https://lnkd.in/dQkFxs37

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Startup founders in India, I need your input. We're facing significant hurdles with the Google Play Store review process for our app, Queo Health. Current situation: App stuck in review for almost a month Zero feedback from Google Multiple unanswered support tickets 3-month delay in our app launch This lack of communication is severely impacting our business timeline and plans. Despite Google's promise of 48-72 hour response times, we've been waiting for weeks. Questions for the community: Has anyone else experienced such lengthy review times recently? What strategies have you used to get a response from Google Play support? How are you managing the uncertainty in your release schedules? Let's share experiences and solutions. Perhaps together I can find a way to navigate these challenges. #GooglePlayStore #AppReview #StartupChallenges #TechSupport #MobileDevelopment

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