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Binny Bansal invests $20 Mn in e-comm OS startup ShopOS

EntrackrEntrackr · 5m ago
Binny Bansal invests $20 Mn in e-comm OS startup ShopOS
Medial

Binny Bansal invests $20 Mn in e-comm OS startup ShopOS Bengaluru-based e-commerce tech startup ShopOS has raised $20 million in a funding round led by 3STATE Ventures, the investment firm founded by Flipkart co-founder Binny Bansal. The fresh capital will be used to scale product development, expand its engineering team, and onboard more e-commerce brands across global markets, ShopOS said in a press release. ShopOS is developing an AI-powered platform to help brands easily build and manage online stores. It uses an “AI workforce” to automatically create content like product descriptions, images, and videos, adjust store layouts for each visitor in real time, and run targeted marketing campaigns. The startup was founded by Sai Krishna V K and Ajay P V, who earlier co-founded Scapic, a tech platform acquired by Flipkart in 2020. After the acquisition, they helped launch Flipkart Labs, focusing on deep tech and AI in commerce. They are joined by Karan Sonawala, who previously led AI and immersive commerce projects at Flipkart. “The friction in content creation and personalization are significant drags on growth. Our previous startup journey taught us the importance of solving hard problems, and with ShopOS, we are focused on delivering what AI agents can truly do for brands. We are building from India for the globe and with this funding milestone, we wish to tap into the smartest AI minds in India to build the future of Commerce,” said the co-founders in a joint statement. ShopOS is targeting a global customer base with early adopters already onboarded in India, Europe, and the UAE.

How Afthonia is empowering startups with strategic support, market access

EntrackrEntrackr · 1y ago
How Afthonia is empowering startups with strategic support, market access
Medial

Even as India has now a flourishing startup ecosystem, a lot of new founders and entrepreneurs need counsel on a variety of issues, ranging from achieving business readiness to access to critical investment avenues. While there are quite a few early-stage startup incubators, there is still a large scope for several more players. Bengaluru-based Afthonia is also doing its bit by providing what the firm describes as a holistic ecosystem that includes expert mentorship, access to a network of investors and industry experts, and targeted incubation and acceleration programs. These programs are designed to nurture startups from their inception. We spoke to founder Tanul Mishra to learn more about Afthonia, what distinguishes it from the rest and the roadmap ahead. Here are the edited excerpts: What are the key problem points that you are trying to solve, and how? Afthonia tackles the critical challenges faced by Indian startups, aiding their transition from innovative ideas to successful businesses. Startups often struggle with organizational skills, building networks, entering markets, securing funding, acquiring industry knowledge, establishing fintech credibility, and focusing beyond fundraising. Afthonia bridges these gaps by providing mindset programming, extensive network access, market insights, funding preparation, expert mentorship, strategic credibility building for fintechs, and practical business growth support. By equipping founders with entrepreneurial skills, strategic thinking, and valuable connections, Afthonia ensures startups are prepared to manage and grow their businesses effectively. Their comprehensive support includes mindset programming to develop leadership skills, access to a robust network of partners and investors, market entry strategies, preparation for funding, expert mentorship, credibility building in fintech, and a focus on tangible business growth. This holistic approach ensures startups not only secure investment but also achieve sustainable and scalable success. There are a bunch of early-stage focused funds, alternative funding platforms, as well as accelerators. What makes your platform unique? We are an independent, for-profit incubator focused on fintech startups in India. We offer tailored support through global market access, a robust network of industry connections, extensive knowledge resources, and customized programs. Afthonia connects startups with international investors and partners, facilitating market entry and growth beyond India. Its network of industry experts, investors, and strategic partners provides essential guidance and early business opportunities. The incubator’s expertise is specifically tailored to fintech, offering insights on regulatory compliance, technological innovation, and business development. Customized programs address each startup’s unique challenges, supporting strategic planning, market entry, and operational efficiency. As the only independent fintech incubator in India, Afthonia helps build credibility and compliance for fintech startups, enabling them to partner with banks and NBFCs. Prioritizing tangible business growth over fundraising, Afthonia ensures startups achieve sustainable, long-term success in transforming the financial landscape. Fintech startups in India are mostly struggling, especially late-stage companies. What are your key takeaways? The fintech landscape is diverse, with various sectors experiencing different levels of success. While some areas face difficulties, others, like API banking solutions and digital lending, are thriving. The fintech industry is capital-intensive and heavily regulated, which can be challenging for companies. Historically, innovation has been dominated by the payments sector, with the digital payments market in India projected to grow significantly. Afthonia Pvt. Ltd. identifies opportunities for growth and innovation in areas such as blockchain, regtech, insurtech, and financial inclusion. By providing tailored support, including global market access, robust networks, expert guidance, and customized programs, Afthonia helps fintech startups navigate the market complexities and achieve sustainable growth. The company stays up to date with regulatory changes, offering proactive support to ensure startups remain compliant and resilient. By developing backup plans, diversifying strategies, and innovating within regulations, Afthonia prepares startups to thrive despite regulatory challenges, driving the next wave of innovation in India’s financial landscape.

RockClimber banks on authenticity and quality to tap into India’s beverage market

EntrackrEntrackr · 1y ago
RockClimber banks on authenticity and quality to tap into India’s beverage market
Medial

India has a massive beverage market with many established brands, though several new players, such as Bira, have also made their mark. Considering the sheer size of the market, it’s safe to say that there’s ample scope for newcomers. One such new player is RockClimber. The company creates fruit beverages and fruit spirits designed specifically for India, made from locally grown fruits like jamun, grapes, pomegranate, kiwi, mulberry, and litchi, among others. One of the company’s objectives is to help reduce fruit wastage and create a sustainable ecosystem for farmers and fruit produce. We spoke to Cofounder Hariprasad Shetty to learn more about RockClimber, what distinguishes it from the competition, and the roadmap ahead. Here are the edited excerpts: The beverage market is filled with multiple brands, including some very established ones. How do you plan to stand out from the competition? As a truly authentic fruit based beverage brand, we are committed to using high quality fruits with an experimentative approach to crafting unique fruit combinations that incorporate global flavour trends. This has allowed us to offer a very diverse range of exciting and refreshing beverages while keeping fruits at the center of everything we do. That’s what makes us stand out from the rest of the competition – we see ourselves as fruit experts and our products are fresh and engage with the evolving consumer preferences. So our focus is on delivering an uncompromising product experience. We source the finest fruits from across the country. This commitment to authenticity and quality sets us apart from many competitors who rely heavily on artificial flavors and preservatives. And the traction we have had in the last three years also points to how we have been accepted in the market. [FY 22 7 Cr, FY 23 7 Cr, FY 24 25 Cr, FY 25 60-70 Cr domestic and 30-35 outside India = 100 Cr+ target] 140 strong distributor network across 11 states. 3 million + bottles of beverages sold. 3000 tons of fruits processed sourced from a farmer base of 200,000 small scale fruit farmers producing grapes, pomegranate, pineapple, jamun, strawberry, mango etc. What is your offline and distribution strategy, usually the key to robust growth in your category? Most of the work should happen before Day Zero – the launch day. We recognized early on that a robust distribution network is the backbone of success in this business. We adopted a systematic approach to build our distribution network from the ground up. Mapping out territories and identifying potential distributors and retailers who could penetrate different markets. We only went ahead with experienced and reputable distributors who had an in-depth understanding of local market dynamics and consumer preferences. What is your strategy for online? Are you considering partnerships with any quick commerce platform? Yes, now that we have a headway in the distribution aspect and have achieved product market fit, we are now going to go aggressive on the marketing front especially online channels. What are the incentives for a farmer dealing with your platform other than the convenience of direct sale and price? Farmers are looking for a stable assured source of income every year. Timely procurement of their fruit produce, immediate payments, reduction in time to sale, and providing access to a large pool of buyers are all the benefits farmers get by working with us. We started with 500 tons of fruit procurement, and now at over 5000 tons. We aim for 10X procurement volumes in the next 2-3 years, thereby contributing to 10 times reduction in fruit loss, and hence a direct positive impact on small scale farmers livelihood and stable income generation. As we expand our facilities, we aim to recruit local talent to be part of our company and thereby directly provide employment opportunities as well. RockClimber aims to: Scale to 10,00,000 farmer base in the next 3 years Platform building for farmer outreach, communication, and forecasting Patented mobile fruit processing system Export unit in select locations for UAE and Africa markets You also mentioned entering the UAE and Africa markets. What is your roadmap for global expansion? And why particularly these two markets? We expect 30-35% revenues coming in from global markets in the near term. Particularly markets like UAE are huge on experimentation as consumers there are well traveled and have an international palette. We see a large market opportunity in the innovative – new age beverage category in this region.

BlinkIt brings EMI option for orders over Rs 2,999

EntrackrEntrackr · 1y ago
BlinkIt brings EMI option for orders over Rs 2,999
Medial

Blinkit, the quick commerce platform, has introduced an EMI (Equated Monthly Installments) option for its customers, allowing them to split payments for purchases over Rs 2,999. This option will be available on all orders except those containing gold and silver coins. The new EMI feature is part of Blinkit's strategy to expand its customer base and drive more significant purchases on its platform. With a growing number of consumers relying on quick commerce for grocery, household items, and more, this option can make larger orders more accessible. By enabling consumers to spread payments over time could also lead to higher-value transactions, as per experts tracking this space. Currently, it has tied up with several banks such as HDFC, SBI, ICICI, Kotak Mahindra, Axis, RBL and CITI Bank to provide EMI options via credit cards. For Blinkit, introducing EMI as a payment option aligns with its focus on scaling up and increasing customer loyalty. Quick commerce is highly competitive, with companies like Blinkit, Swiggy Instamart, and Zepto all vying for market share. By facilitating such transactions, Blinkit aims to increase its average order value, a key metric in its growth strategy. Early this week, Blinkit launched the Seller Hub to enable brands to manage their presence on the platform independently, without needing intermediaries. Over 200 brands already have access, the platform offers tools for brands to control their quick commerce operations efficiently. Blinkit has emerged as a leader in the quick commerce space, and recently, HSBC valued it at around $20.8 billion, more than twice the valuation of its parent company, Zomato, which was valued at $9.2 billion by the banking firm. An EMI option, through third party lenders, is one more way to eke out margins in the tough e-commerce business. Not to mention that it might deter some deal seekers to stick with Blinkit just for the convenience of the EMI. So improved margins here too. With the wider portfolio of products like gold and mobiles etc that has been added, an EMI option was a natural progression, one could argue. So what could go wrong? Other than the typical initial costs of processes for the added feature, not much, one would imagine, with a very strong upside if it takes off well. In which case, it will not be a unique offering for too long in any case.

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