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Gritdaily
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Borrow-It Fosters Community Connections and Environmental Impact Through the Sharing Economy
- Borrow-It is a platform that allows users to rent items instead of buying them, promoting sustainability and saving money.
- The platform encourages users to rent out their belongings, contributing to a circular economy and reducing waste.
- Borrow-It supports local economies and strengthens community ties by facilitating rentals between neighbors and nearby businesses.
- The platform offers financial opportunities for businesses and individuals, promoting fair market access and sustainable consumption.
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VIE Stories
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Kunal Bahl Biography – Know about the New Judge of Shark Tank India
- Kunal Bahl is a renowned Indian entrepreneur and investor, best known as the co-founder of Snapdeal, one of India’s top e-commerce platforms, established in 2010.
- He holds degrees in Entrepreneurship and Engineering from Wharton and the University of Pennsylvania. Bahl co-founded Titan Capital, which has invested in successful startups like Ola and Urban Company. He has made 255 investments, with 22 exits and involvement in 7 unicorns.
- Bahl recently joined Shark Tank India season 4, replacing Zomato's CEO. He has received numerous accolades, including Entrepreneur of the Year and the Joseph Wharton Award for Young Leadership.
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Gritdaily
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Gene Saunders: Making an Impact Through Project Lifesaver International
- Gene Saunders is the founder and CEO of Project Lifesaver International, a nonprofit organization focused on locating and rescuing missing individuals.
- Saunders had a distinguished career in public service, including 33 years at the Chesapeake Police Department, where he held command positions and led the SWAT team.
- He founded Project Lifesaver International in 1999 after adapting wildlife tracking technology to aid in search and rescue of individuals with Alzheimer’s disease or dementia.
- Under Saunders' leadership, Project Lifesaver International has partnered with over 1,800 public safety agencies, leading to more than 4,000 successful rescues and the development of advanced tracking devices.
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Insider
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AI startup Attention just raised $14 million to bring its natural language processing tech to sales calls
- AI startup Attention has raised $14 million in a Series A funding round
- The funding round was led by Alven, with participation from Eniac and Frst
- Attention uses natural language processing to analyze sales calls and generate action items
- The startup aims to automate more business tasks and put sales teams on autopilot
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Medium
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The AI Bubble? It’s Really a Startup Bubble, and It’s Popping Big Time
- In this article, the author discusses the AI bubble and its impact on startups, particularly in healthcare.
- The article highlights the survival challenges faced by AI startups like Tempus AI amidst the hype.
- It also addresses issues like AI copycats, tech parasites, and the role of venture capital in the startup bubble.
- The author concludes with insights on the myth of the genius entrepreneur.
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ISN
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Former OYO CFO Abhishek Gupta joins Peyush Bansal-led Lenskart
- Abhishek Gupta, former CFO of OYO, has joined Lenskart as the CFO.
- Gupta expressed his gratitude to OYO and its founder Ritesh Agarwal for the trust and friendship.
- His new role comes after the departure of Lenskart's previous CFO, Mukti Hariharan.
- Gupta will be responsible for driving Lenskart's financial strategy and enhancing corporate governance.
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Yourstory
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'Not raising money for aggressive discounting': Zomato CFO
- Zomato's finance chief, Akshant Goyal, stated that the company is not raising funds for aggressive discounting.
- Zomato intends to raise around $1 billion to strengthen its balance sheet, but believes that discounting won't help the business.
- Zomato is focused on expanding its quick commerce offerings and plans to open 1,000 dark stores by the end of 2026.
- While its quick commerce segment has shown significant revenue growth, the expansion has impacted margins and take rates for Blinkit.
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Yourstory
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Why Paytm is betting on FLDG model to boost lending and revenue
- Paytm is implementing the First Loss Default Guarantee (FLDG) model to boost lending volumes and profitability.
- FLDG involves Paytm guaranteeing a portion of loans to mitigate risk for lending partners.
- The model helps lending partners expand customer base and issue more loans, especially to borrowers with limited credit history.
- Paytm generates revenue through upfront sourcing fees and collection revenues throughout the loan lifecycle.
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Yourstory
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Zomato Q2: Blinkit is under margin pressure due to store expansion
- Zomato's quick commerce business, Blinkit, is facing margin pressure due to its rapid store expansion.
- Blinkit had 791 stores at the end of Q2, compared to 411 in the same period last year.
- The company is making investments to scale its infrastructure, including new stores and warehouses.
- While most stores are profitable, the aggregate level margin expansion is not seen due to short-term dilution caused by expansion efforts.
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Yourstory
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Turning India’s logistics challenges into growth opportunities
- A well-developed logistics sector is essential for accelerating India's journey toward becoming a global manufacturing powerhouse.
- India faces challenges in its logistics sector, including road infrastructure limitations and shortage of skilled manpower.
- To overcome these challenges, the Indian government is investing in infrastructure development and technology integration.
- Streamlining regulations and improving coordination among regulatory bodies can further enhance India's logistics sector and global competitiveness.
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Yourstory
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Strategies to steer clear of digital transformation pitfalls
- Indian businesses face challenges in digital transformation due to infrastructure gaps, skill shortages, and resistance to change.
- Digital transformation involves integrating technology into an organization to increase customer value.
- Phases, challenges, and tips for successful digital transformation are discussed in the article.
- Challenges include lack of strategy, buy-in, employee skills, outdated infrastructure, and the cost-quality tradeoff.
- To enhance digital transformation, identify core areas for improvement, evaluate solutions, calculate costs, mitigate risks, and get stakeholder support.
- A low-code platform can make digital transformation easier, according to Naveen Kumar Kalyankar, OutSystems India's Regional Vice President.
- Indian businesses need to address challenges collectively to harness the power of digital transformation and remain competitive.
- Identification of core areas, evaluation of solutions, and cost calculation are crucial steps in digital transformation.
- Successful digital transformation requires risk mitigation and achieving stakeholder buy-in.
- Low-code platforms can be particularly useful in digital transformation initiatives.
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Yourstory
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CoinSwitch’s Singhal on handling a crypto heist; Kunal Bahl outlines Titan Capital’s new fund
- Zomato’s gross order value more than doubled to Rs 6,132 crore; its profits fell to Rs 176 crore on a QoQ basis, due to increased expenses from adding stores and warehouses.
- IMF lowered its global growth forecast for next year and warned of accelerating risks, ranging from wars to trade protectionism.
- The IMF pointed out that the adoption of electric vehicles represents a fundamental transformation of the global automotive industry, with 'far-reaching consequences.'
- HSBC’s first female CFO, Pam Kaur, aims to conquer the challenge of navigating a new interest rate cycle and fractitious geopolitical relations using the 'Power of Chi'.
- CoinSwitch Co-founder Ashish Singhal shed light on how the company would have handled the WazirX crypto heist. He believes companies should absorb losses internally when possible and protect fully protect users.
- Titan Capital, founded by Snapdeal’s Kunal Bahl and Rohit Bansal, has launched a follow-on fund to invest in top-performing companies from its portfolio of 280 startups.
- Ankita Asthana and her team have built WeddingNama, a startup that offers wedding photography, film-making services, and more.
- Moody's raised its full-year adjusted profit forecast above Wall Street estimates and posted a nearly 31% rise in Q3 earnings on Tuesday.
- Allianz SE is in talks to scrap two Indian joint ventures with Bajaj Finserv Ltd. as part of a dispute over the direction of the partnership.
- Anthropic has enabled its AI to control actions on a computer, from searching the internet to inputting text, as companies seek to leverage the technology to create virtual agents.
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Yourstory
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Speedloop Auto plans to rev up intracity deliveries with micro commercial EVs
- Speedloop Auto, founded by Aditya Puppala and Gayatri Jadhav, aims to create micro commercial electric vehicles for intracity deliveries.
- The startup has developed two models, CROC EV and STIGER EV, which are three-wheelers with a load capacity of 100 kg/350 liters and 250 kg/500 liters respectively.
- The vehicles are powered by lithium-ion batteries, have a range of 40-120 km, and feature ergonomic seats for driver comfort.
- Speedloop Auto plans to start the commercial launch of its vehicles in December 2021, targeting sales of 500-600 vehicles in FY24-25 and 10,000 vehicles in the next financial year.
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Yourstory
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0
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RBI crackdown on NBFCs sparks debate over fairness
- Critics allege Reserve Bank of India's (RBI) recent crackdown on four NBFCs are arbitrary and don't have logic.
- Founders and experts have raised concerns regarding the crackdown, questioning what 'reasonable rates' mean to the authority. Why aren't credit card companies who charge rates as high as 40% or more held to the same standard?
- In its order last week, the RBI asked NBFCs to halt lending while penalizing them allegedly for charging excessively high-interest rates. The RBI does not regulate interest rate spread, but it expects NBFCs to maintain reasonable procedures and internal principles for pricing loans.
- An executive investor in lending startups LendingKart and LoanTap asserted the problems of usurious rates should be solved by more competition, not by handing new banking and NBFC licenses and shutting down existing players.
- Non-banks must account for future securitisation prospects and fraud, which could render a loan unserviceable. But financial inclusion, a goal the government champions, could be undermined if lending rates are suppressed without considering the associated risks.
- Credit card APRs in India can be equal to, or even higher than, those offered by regulated microfinance institutions (MFIs), which typically charge between 20% to 30% annually.
- Those in the industry who argue that high-interest rates are necessary to cover unsecured risk insist there must be better transparency and borrower protection in place.
- Morgan Stanley suggests more lending firms may come under regulatory scrutiny as the regulator’s role isn’t only to support innovation but also to ensure it is done responsibly.
- The market regulator's job is not just to support innovation but also to guarantee that it is done well and with responsibility.
- According to an executive investor in lending startups, there's a need for a natural progression to bring down costs without hindering the charging of appropriate lending rates.
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StartupDaily
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6 key tips on how to present to investors with confidence
- Here are 6 key tips to help you nail that next investor meeting:
- Understand the importance of preparation, and managing how you perform under pressure.
- Set a clear objective about what you want to achieve in the meeting.
- Research your audience and build rapport and an emotional connection.
- Understand yourself and the power of visual and vocal signals.
- Control nerves by doing breath and body exercises and warming up for just 10 minutes.
- Create an impactful first impression with a hook or grab in the first 30 seconds.
- Mirror your audience to adapt your energy according to the audience's response.
- Ultimately, the key to nailing your investor pitch lies in the perfect blend of preparation, self-awareness, and adaptability.
- One-on-one coaching can also help you in polishing your pitch.
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