Aditya Sriram

🚀 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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Co-lead a workshop (with Sumathi my business partner and Komal lath of Tute Consult) on branding and communication and why/how its' strategic & important for the portfolio companies of an early stage growth focused PE fund in Mumbai this noon. very interactive session. lots of takeaways. one of the biggest benefits of doing such workshops with founders and CXOs of growth companies is that you get to first hand understand their pain points and priorities. which makes you realize there is a long road ahead laden with great opportunity for those in PR & comms if we take off our hats and look at it from their perspective.

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I have seen this play out a lot - Investors evaluating D2C brands take feedback from friends and family which might not be the right thing to do because of 2 reasons -- 1. Negative bias kicks in. When you ask someone close how this product is, they aren’t thinking, “What’s good?” Instead their immediate thought is, “What’s bad?” This is a natural tendency—people tend to focus on what could be wrong instead of highlighting the positives. 2. The Target audience isn’t the same. Your friends and family probably aren’t the target customers of the startup. Real feedback comes from people who actually use the product and experience the problem it solves. Here is what you should do instead: ask the founder who their target customers are and talk to them for real feedback. Feedback from friends and family can create bias, as they’re not the real customers.

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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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𝐈𝐦𝐩𝐨𝐫𝐭𝐚𝐧𝐜𝐞 𝐨𝐟 𝐛𝐮𝐢𝐥𝐝𝐢𝐧𝐠 𝐚 𝐜𝐮𝐥𝐭𝐮𝐫𝐞 𝐞𝐚𝐫𝐥𝐲 𝐨𝐧 𝐢𝐧 𝐚 𝐬𝐭𝐚𝐫𝐭𝐮𝐩. Most often, founders of early-stage startups feel that it is too early for them to start defining culture for their company. They feel that culture is something that needs to be built when the company matures. However, in this insightful session that Sandeep Sinha conducted for our portfolio companies, he emphasised the need and importance of creating a culture right at the onset of an entrepreneurial journey and at the very beginning of a startup's life. Read a summary of this insightful session on this link https://bit.ly/3ZRoYHv Sandeep Sinha Pankaj Bansal (पंकज बंसल) Karann Mittal

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V3 Ventures Deal Announcement: Creme Castle - A tech first driven assembly line bakery for Bharat! 🔥 While I was evaluating this file, a lot of people said - bakery? There are 100s of home bakers. How is this scalable? I would have agreed, until I met Pranjay Mittal, who brought innovation from IIT-D, FMS and CarDekho Group to his mom’s humble bakery in Noida. You might remember their Shark Tank episode where his mom famously said, “Main neend mein baking kar sakti hu” 😊 That passion is exactly what we want in founders! From a small bakery in Noida to now clocking monthly sales of over 1 Cr, Creme Castle is disrupting the $12.6 billion Indian bakery industry. 🎂 Here is why we invested… ✅Changing consumer behavior from mithai → cakes & desserts India is a land of festivals and no festival is complete without mithai. However, cakes & desserts are now taking center stage in these celebrations. as the Gen Z takes over. We all know India is trading up. So, there's a growing demand for Tiramisu in Tier 2 and 3. But, we’re lacking a player. ✅The Assembly Line Model: And, we need a player that’s standardized. The biggest problem with F&B is that when you order from the 2nd and 3rd outlet - the product isn’t as good. This is the most unique part of Creme Castle. Cakes are made in 3 components in a central kitchen - base (sponge), icing and customization. At spoke kitchen it’s only about putting these parts together - thus ensuring quality! ✅This industry is regionalized and heavily fragmented: Think about it, growing up, we all had cakes from our favorite local bakery. Every city has one, but when we moved for college or work - it wasn’t there. Cakes have a nostalgia factor associated with it and so making this change is hard. With all of this Creme Castle is can offer something India hasn’t seen before: - 100% customized cakes in just 2 hours - World's highest # of flavor profiles to choose from They have >10 Lakh loyal customers with a 60% repeat rate and we’re all geared up to expand from NCR to Jaipur and Chandigarh! We’re excited to back the mother-son duo of Veena and Pranjay to disrupt India’s cake market 🎂 What’s do you order cake? PS: Delhi-NCR folks, give us a try. Even available on Blinkit! #india #investment #startup #investor #entrepreneur

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Dear Arindam - for VCs - learning from their portfolios or learning of founders who have executed successfully are key.. I have been gaining a lot of perspective from your detailed “execution” of several “first of its own” kind of experiments and how they have fared.. This consolidated summary post should be used, researched as a goldmine resource by young & aspiring founders and VC firms portfolio teams equally :-) There is always room for doing better everyday and we look forward to continued learning & sharing by you - our best !! Lets #SucSEEDtogether !!

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We teamed up with a niche corset brand Together, we set out to shake up the market and redefine comfort and style. Here’s what we achieved: The brand didn’t just hit INR 1.5M revenue—we nailed it. Right from the start, we prioritized making money over expanding too quickly. Here’s how we did it: 1. We knew our audience: Pinpointing untapped segments in the corset market, we crafted messages that really hit home. 2. We kept a close eye on the numbers: Metrics like ROAS, ROI, and EBITDA were our compass, guiding every decision. 3. We got creative: Our content wasn’t just about selling—it was funny, engaging, and totally stood out. 4. We were consistent: Ensuring our brand voice was clear and consistent across every platform. 5. We blended data with creativity: Every campaign wasn’t just a shot in the dark—it was based on solid data and creative flair. 6. We never stopped testing: Even when things were going well, we kept tweaking and testing our ads and offers. Let me give you an example: - Through a month of intense testing, we slashed our cost per acquisition by 30%. - Thinking we’d hit our sweet spot, we took time. - But then, by making a few small tweaks to our winning ad, we dropped it another 12%—talk about squeezing every drop of juice! Results , you ask ? A staggering 1,208 purchases were made during the campaign period! The total purchase conversion value skyrocketed to ₹1,485,874.58! The average Purchase ROAS (Return on Ad Spend) reached an impressive 3.57! It's not always about big budgets, but about understanding your audience and crafting messages that truly resonate. Want to level up your lifestyle brand's digital game? socioninja.com/contact schedule the call for your brand now #DigitalMarketing #MetaAds #FashionMarketing #AdStrategy #SocialMediaMarketing #EcommerceSuccess #Shapewear #CreativeTesting #CustomerEngagement

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Only TWO days left to apply for the RippleX Fellowship program! If you are a student/dropout/recent grad building a b2b software company in Canada/US, this is the program for you. In our last batch we had some amazing mentors like: - Braden Ream (CEO, Voiceflow): Mastering storytelling and navigating selling into enterprises - Rahul Parmar (Prev. Senior Director of Sales, Drata): Sales 101 – Converting pilots to real revenue, creating urgency among buyers, and best practices to manage a sales process - Nicholas Chepesiuk (CEO, OnCall Virtual Care, now part of Qualifacts): Striving towards product-market fit, utilizing creative outbound strategies, and the importance of building trust with customers in the early days - Justin Sky (CEO, Rose Rocket): Identifying venture-scale markets, learning when to pivot, and building strong organizational culture - Josh Gray (CEO, Artemis): Conducting customer validation, segmenting your ICP, and advice for young founders Apply here: https://lnkd.in/e2iAu6vi

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I’ve always been skeptical about D2C brands for a few reasons. With today's democratization of the internet and knowledge, anyone with enough distribution power can create a D2C brand. We’re seeing this trend with social media influencers launching their own brands and generating massive revenue simply by leveraging their following. It’s no longer just about the product; it's about distribution power, which can make the market feel unfair. Most D2C brands in India rely heavily on digital channels like e-commerce and quick commerce, believing that’s enough to drive significant revenue—and for many, it has been. Digital sales have allowed some brands to scale quickly, but that’s not the whole game. The real challenge, and where most D2C brands struggle, is offline distribution, which is a complex maze. The few brands that figure this out, like Mamaearth, go on to win big. After interacting with Abhishek kaushik and learning about MITRA's journey, I realized they’re doing something completely different. While most brands are focused on going online, MITRA is building a strong offline presence in Tier 2 and Tier 3 cities, where their semi-premium, high-quality products have a real edge. Despite competing with giants like ITC, MITRA's key advantage is offering the same premium experience that people in Tier 1 cities enjoy but at an affordable price—and in stores that are easily accessible to Tier 2 and 3 consumers. These consumers watch the same content and aspire for the same products but often lack access to the D2C brands popular in metro cities. MITRA bridges that gap, offering a unique value proposition in these underserved markets. I’m highly optimistic about MITRA’s future and excited to see their expansion into international markets. At Beej Network, our goal is simple: we invest in companies that have the potential to go global, and MITRA is definitely one of those companies. #angelinvestment #indianstartups #FMCG #D2C #D2Cstartups #foodstartups #startupinvestment #indianinvestment #startupfunding #fundingalert #venturecapital #VCworld #venture

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Announcing: Antler Fastrack to Residency - MUMBAI Edition (for founders in Mumbai / Pune / Ahmedabad / Surat) 2 weeks back we announced the first version of Fastrack to Residency through a warm intro to stay true to our promise on delivering faster to the most exceptional founders in Bangalore! We had an overwhelming response of 250+ warm referrals from other VCs, operators, serial founders and were introduced to a vibrant bunch of founders building across bath fittings, offline senior care clubs to CBDCs powered international payments. Of this, we met with 22 founders (and have 30+ we are speaking to virtually given limitation of slots) and offered the residency to 5 teams and individuals within 48 hours! Seeing such a promising response from the ecosystem, we are now coming to Mumbai and hope to see an even bigger outcome! If you are an exceptional founder (individual or team) that’s just starting up, Nitin Sharma & I will spend a full day in Bombay on the 27th of August to talk to you! The only twist - you need to reach us through someone who knows you - and knows us too! Why are we doing this - we announced last month that we are investing $500k in 20 companies (amounting to $10Mn). This is our endeavor to deliver faster and bigger on this promise! What we promise - is a decision into the Residency within 24 hours of us meeting you. Here’s how it will work - (1) Find someone in our networks (cue: some of them would have shared this post on their LinkedIn / Twitter) or would have engaged with us in the past. (2) Show us you are super resourceful :) Ask them to email us / tweet to us / message us on LI / Whatsapp us - any of the Antler team members that they know (there’s 18 of us!) - to give a warm intro to you. Convince them to write a good line or two :)  (3) All shortlisted individuals and teams will get a direct slot with Antler India on Aug 27th meet us IRL in Mumbai. (If you are not shortlisted post the above process, you will hear from us by Aug 24th) (4) You will get a decision to get into the Antler India Residency by Aug 28th Please note that the last date for being referred to this is 21st of August. Do refer great folks our way! Next on the list - NCR in September!

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{New pod 🎤} "𝐆𝐓𝐌 𝐋𝐞𝐚𝐫𝐧𝐢𝐧𝐠𝐬 𝐟𝐨𝐫 𝐔𝐒-𝐈𝐧𝐝𝐢𝐚 𝐁2𝐁 𝐒𝐚𝐚𝐒 𝐒𝐭𝐚𝐫𝐭𝐮𝐩𝐬" This episode explores GTM strategies and learnings for US-India B2B SaaS startups. We cover everything from finding design partners in the US, scoping MVPs, figuring out what ICP to focus on, navigating the unique challenges of early PMF, GTM hiring in the US, and finally, working towards creating M&A exit options. Joining me for this discussion is Satya Ganni, an experienced SaaS founder and operator who has successfully built and sold five companies and led two acquisitions as a buyer. He is currently serving as CEO of Beamer and Userflow. Beamer is developing a cutting-edge product-led growth toolkit tailored to product leaders at SaaS and digital-first companies. They recently acquired Userflow to augment the business. TIME STAMPS: (01:15) Satya’s journey as a repeat US-India SaaS founder and operator (04:38) [Case Study: 0-to-1] Finding US design partners (11:09) Scoping B2B SaaS MVPs (15:42) [Case Study: $10k-100k ARR] Identifying which ICP to focus on - SMB vs mid-market vs enterprise (22:23) [Case Study: $100k-$1Mn ARR] Navigating the unique challenges of early PMF (27:18) [Case Study: $1-5Mn ARR] Building a US leadership team post-PMF (34:33) [Case Study: $5-20Mn ARR] Working towards creating M&A exit options  (38:46) Learning to become a proactive relationship builder YouTube - https://lnkd.in/guGQeBwA Spotify - https://lnkd.in/gAg7XeF4 Apple Podcasts - https://lnkd.in/gkYEDpED An Operator's Blog - https://lnkd.in/ggGbzSKY

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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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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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There's a shift happening in the Indian startup ecosystem, and it's impacting late-stage funding. Here's a quick breakdown of the data points: - Late stage funding slump: Investments in Series C rounds and beyond dropped to their lowest level in seven years for the first half of 2024. Deal negotiations seem to be taking longer to close. - Shrinking deal sizes: The average amount invested in late-stage startups has dipped to $47 million so far this year, compared to over $57 million in the same period of 2023. - Focus on profitability: Investors are prioritizing metrics that demonstrate a clear path to profitability, like EBITDA multiples, over headline numbers like revenue or GMV. What does this mean? The easy money days might be over for late-stage startups in India. Investors are taking a more cautious approach, prioritizing companies with strong fundamentals and a clear path to profitability. #venturecapital #startups #funding #India

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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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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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Today, we are excited to share our biggest investment as Antler, in India so far. At Antler, incl. our Elevate continuty fund (Fady Abdel-Nour, CFA), we're thrilled to co-lead a $11M pre Ser A in Namma Yatri, alongside Blume Ventures Karthik B. Reddy and Google In this business, a few times in your career, you come across a truly disruptive business model that challenges the way things have been done, and extremely obsessed founders creating a culture that is so unique, you have never seen it before. When that happens, despite all the things not clear, it’s a joy to jump on board that potential rocketship. That’s what we have seen in the way Namma Yatri is being built by Magizhan Selvan and Shan M S with (a) a disruptive business model in urban mobility, rethinking how to make the life of a driver better and (b) Digital Public Infrastructure (DPI) at its heart. 46 million trips have already been completed, with >7 million registered users. For us, this is also a continuation of our commitment to investing in a future on DPI / Beckn / ONDC, started in 2022. h/t Susmit Patodia. Rajiv Srivatsa Magnus Grimeland Martell Hardenberg Teddy Himler Keerat Singh Sethi Vimal Kumar Sheetal Lalwani T Koshy sujith nair Pramod Varma

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How do people see founders from IIT? 1. Raises investment People: "It's easy to raise money when you are from IIT" 2. Burns money People: "Investors should look beyond IIT's founders. Founders from non-IIT/IIM backgrounds would better utilise the money." 3. Build a successful company/unicorn People: "Valuation is still high. It won't sustain and will fail" 4. Shuts down after raising money People: "I told you it won't work" Meanwhile, Founders, the real ones, don't care whether they are from IIT/IIM. They keep building, keep pushing, and keep changing the world. ******* Follow Shubham Bansal for unfiltered life stories and learnings.

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