Mriganka Pattnaik

𝐙𝐞𝐩𝐭𝐨'𝐬 𝐑𝐚𝐩𝐢𝐝 𝐀𝐬𝐜𝐞𝐧𝐭: 𝐅𝐫𝐨𝐦 𝐈𝐃𝐄𝐀 𝐭𝐨 𝐈𝐏𝐎!  Kudos to Zepto for raising $665M in their latest funding round, doubling their valuation to $3.6B! Current investors like Glade Brook Capital, StepStone Group, and Goodwater Capital led the round, with new investors such as Avenir Growth Capital, Lightspeed Venture Partners, and Avra joining in. With plans to expand dark stores from 350 to 700 across cities like Chandigarh, Ahmedabad, and Jaipur by March next year, Zepto is on an impressive growth trajectory. Aadit Palicha, co-founder and CEO, mentioned that the fresh funds will support a “balance sheet-building exercise” ahead of their proposed IPO next year. This journey is a testament to the fact that moving from IDEA to IPO is not as difficult as it seems when you have a clear vision, solid strategy, and relentless execution. 𝐂𝐨𝐧𝐜𝐞𝐩𝐭 𝐟𝐨𝐫 𝐀𝐬𝐩𝐢𝐫𝐢𝐧𝐠 𝐄𝐧𝐭𝐫𝐞𝐩𝐫𝐞𝐧𝐞𝐮𝐫𝐬: The path from a simple idea to a successful IPO can be achieved with the right mindset, robust planning, and persistent effort. Zepto’s story is a perfect example of this! 𝐖𝐡𝐲 𝐈𝐭 𝐌𝐚𝐭𝐭𝐞𝐫𝐬: Increased Valuation: Doubling to $3.6B. Expansion Plans: Growing dark stores to 700 in new cities. Future Ready: Preparing for a successful IPO. #Zepto #FundingSuccess #QuickCommerce #StartupJourney #IPO #BusinessGrowth #DrVivekBindra #Entrepreneurship

15

1 Comment

All roads to monetization in fintech lead to lending, that's where the profit pools lie. "Fintech is not dead," Akshay Sarma who's spent the last 9 years building axio (formerly Capital Float (now axio)), one of India's most valuable fintech companies. Watch here: https://lnkd.in/gvHqB4zM We've talked about all things Fintech: > The Landscape of the Fintech Ecosystem, opportunities, and different business models > How Axio evolved from MSME lending to consumer lending post the pandemic > Are the regulators (RBI & SEBI) unsupportive of Indian fintech companies? > How should fintech founders navigate the tough fundraising environment? > Public markets, investing in equity vs debt Akshay's personal investing strategy > The High-Risk, High-Reward Nature of Angel Investing > Do you need a NBFC license to succeed as a fintech company? > The Frenzy Around SME IPOs and Risk Appetite > The Importance of Profitability and Cost of Funds in Determining Margins Must watch for all fintech founders and investors in the country!

52

7 Comments

{New pod 🎤} "𝐋𝐞𝐯𝐞𝐫𝐚𝐠𝐢𝐧𝐠 𝐜𝐮𝐫𝐚𝐭𝐞𝐝 𝐞𝐯𝐞𝐧𝐭𝐬 𝐭𝐨 𝐝𝐫𝐢𝐯𝐞 𝐔𝐒-𝐈𝐧𝐝𝐢𝐚 𝐬𝐭𝐚𝐫𝐭𝐮𝐩 𝐆𝐓𝐌" Was super-fun to jam with Nivas Ravichandran and Nitya Baskar, the Marketing ninjas of Spendflo, on how US-India startups can use curated events to drive US GTM. We discussed what type and stage of startups are most suited for leveraging an event-based GTM strategy, operating learnings around event design and planning, a deep dive into the CXO roundtable format, and tracking the ROI of these events For all early-stage founders, GTM leads, and growth marketers in the US-India corridor, this is as operating & tactical as it gets. Let us know what you think! Spotify - https://lnkd.in/gtvWFN-B Apple Podcasts - https://lnkd.in/gGysaHsW An Operator's Blog - https://lnkd.in/gkdV228e

46

6 Comments

The process of getting deeper into the Indian start-up ecosystem as an angel investor and limited partner (2 new hats of mine since 2023) is well on its way. Today spent the day attending Ivycap day 2024 as a special attendee. getting to understand the dynamics of investing, assessing business models and plans, valuation and most importantly founders. should have started a bit earlier but then no regrets. these new hats are part of a larger connecting the dots am attempting.

15

5 Comments

Continuing on the question of what themes have driven India SaaS over the last decade: one of the themes has been the me-too model in SaaS - this has been a majority of early-stage financings historically in India. I think starting a new company today with this model may be tough, given rise in keyword costs and intense competitive clutter. The model has assumed: - target a large, mature market - build 60-80% of functionality (or pick off a part of the workflow) with some technical innovation - offer at a fraction of the price of the market leader - target SMB first, then work your way up to lower mid-market - aggressive GTM through SEO, SEM, self-service and remote sales - differentiate through price and support - category leadership is not the goal - 10 years to $100mm ARR (if successful)- which is ok-ok growth rate, not top quartile

189

28 Comments

{New pod 🎤} "𝗕𝘂𝗶𝗹𝗱𝗶𝗻𝗴 𝘀𝘂𝗰𝗰𝗲𝘀𝘀𝗳𝘂𝗹 𝗽𝗿𝗼𝗱𝘂𝗰𝘁𝘀 𝗮𝗻𝗱 𝗣𝗠 𝗰𝗮𝗿𝗲𝗲𝗿𝘀 𝗶𝗻 𝗳𝗶𝗻𝘁𝗲𝗰𝗵 𝗜𝗜 𝗟𝗲𝗮𝗿𝗻𝗶𝗻𝗴𝘀 𝗳𝗿𝗼𝗺 𝗦𝗾𝘂𝗮𝗿𝗲 𝗮𝗻𝗱 𝗠𝗲𝗿𝗰𝘂𝗿𝘆" Was super-fun to record this with Rohini Pandhi - Product Lead at Mercury and ex-Product Lead at Square/ Block. The first half of this episode covers best practices and frameworks used by best-in-class fintech companies like Square and Mercury to build products and drive go-to-market.  In the second half, we discuss insights and learnings for PM career planning in fintech, including ways to prepare for the potential impact of AI on product jobs. Some great learnings here for fintech product leaders, young PMs, and founders. Let me know what you think! Spotify - https://lnkd.in/dJQMM9sB Apple Podcasts - https://lnkd.in/dyDaCDk7 An Operator's Blog - https://lnkd.in/dREtbx9n

51

4 Comments

📔 India Budget 2024: A Mixed Bag for the Crypto Industry 🗒 As a Founder of a company & being part of the web3 space, I closely followed the announcements in the India Budget 2024. While the budget brought some positive news for the broader tech ecosystem, the crypto community had mixed reactions. 🔍 Key Takeaways: Crypto Taxation Unchanged: The much-debated crypto tax rules remain unchanged. The 30% tax on gains from virtual digital assets (VDAs) and the 1% TDS on transactions continue to be in effect. Capital Gains Tax Adjustments: The increase in long-term capital gains tax from 10% to 12.5% and short-term capital gains tax from 15% to 20% has caused disappointment among the middle class. Angel Tax Abolished: A significant win for the startup ecosystem is the abolition of the angel tax for all classes of investors. This move is expected to bolster the Indian tech startup scene, especially in the web3 sector. At DappLooker, we remain committed to navigating these regulatory landscapes and continuing to provide robust blockchain data analytics solutions. The unchanged crypto tax rules present challenges, but they also reinforce the need for innovative solutions and strategic planning. Let’s continue to build, innovate, and drive the future of web3 in India 🇮🇳 #IndiaBudget2024 #Crypto #Web3 #Blockchain

12

1 Comment

Venture capital exists to capitalize and create hallmark entrepreneurial business building stories, and this one, from Eric Tarczynski, Founder of Contrary, one of the earliest investors in Indian commerce start-up Zepto, is one of those outstanding stories and a must-read below! The growth and progress of this Indian start-up are truly remarkable, especially given it was only founded in 2021! Zepto recently raised $665 million in a new round of funding, more than doubling its valuation to $3.6 billion from $1.4 billion in less than a year, as the #Mumbai-based startup doubles down on its efforts to capture the contested quick commerce market in #India. US-based Glade Brook Capital Partners LLC, Nexus Venture Partners and StepStone Group co-led the “highly-oversubscribed” Series F round. Avenir, Lightspeed India and Avra (former Y Combinator Continuity exec Anu Hariharan’s new fund) as well as existing backers Goodwater, Lachy Groom and Contrary followed. It is clear that US investors are still active and keen on the India start-up market. The startup said its revenue has risen 140% from a year earlier, and its annualized gross merchandise value (GMV) is on track to exceed $1 billion. It works with more than 50,000 delivery partners and is adding over 5,000 delivery partners each month. The company said about 75% of its dark stores were EBITDA positive as of last month. Congratulations Eric Tarczynski and the Zepto Team! #fundraising #indianmarket #venturecapital #earlystage #indianentrepreneeurs #capitalmarkets #highgrowth #unicorns #seed

34

1 Comment