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Leading "chai" (tea) cafe chain <keyword id="2385736" type="General" weightage="20" keywordseo="chaayos" source="Orion">Chaayos</keyword> on Thursday announced it has raised $53 million in Series C funding led by Alpha Wave Ventures. The company said it will use the money for tech-enhancement, hiring and store expansion. The latest round saw participation from existing investors Elevation Capital, Tiger Global and Think Investments. Founded in 2012 by Nitin Saluja and Raghav Verma, Chaayos runs 190 stores across six cities and plans to add 100 more by the end of this year. "The latest capital raise will help us deepen our technology investments to further enhance our guest experience and build a ubiquitous brand that is an integral part of Indian society over decades to come," said Saluja, Founder and CEO. "We are also continuously on the lookout to hire talent to handle the scale that we aspire for," he added. At Chaayos, people can personalise their cup of tea in 80,000 combinations with IoT-enabled tea bots called 'Chai Monks', Which started off as a niche use case, Chaayos online Chai deliveries now account for 45 per cent of revenues, said the company. "A unique combination of innovations in food and drinks offerings, strong leverage of technology solutions and obsession over customer satisfaction has positioned Chaayos as a clear leader in their space," said Deepak Gaur, Partner, Elevation Capital. "We are impressed by the team's customer obsession, which is visible in its best in class unit economics and customer NPS," added Navroz Udwadia, Co-founder, Alpha Wave Global. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/apple-has-dropped-the-second-developer-beta-update-for-ios-16-with-revamped-message-filtering/articleshow/92404124.cms">Apple has dropped the second developer beta update for iOS 16 with revamped message filtering</a> <a href="https://www.businessinsider.in/finance/news/heres-what-card-tokenization-is-and-how-to-tokenize-debit-and-credit-cards/articleshow/92403898.cms">Here’s what card tokenization is and how to tokenize debit and credit cards</a>

Chaayos raises $53 million to enhance tech, expand store and hire more

The <a href="http://www.businessinsider.in/searchresult.cms?query=startup+&amp;sortorder=effectivedate">startup </a>scenario has changed a lot and startups, now are more focused on becoming profitable than just scaling up. They are now putting in place new talent initiatives. 
 
Companies like <a href="http://www.businessinsider.in/searchresult.cms?query=PolicyBazaar&amp;sortorder=effectivedate">PolicyBazaar</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=MobiKwik&amp;sortorder=effectivedate">MobiKwik</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=Chaayos&amp;sortorder=effectivedate">Chaayos</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=Treebo+Hotels&amp;sortorder=effectivedate">Treebo Hotels</a> are planning to scale up on talent, and be heavily focused on communicating their company vision better. 
 "We will concentrate on performance management and upping the motivation in a fast-growing environment so that the managers perform to their optimum,” <keyword id="1779565" type="UNKNOWN" weightage="20" keywordseo="Rashmi-Daga">Rashmi Daga</keyword>, chief executive at <keyword id="6434843" type="UNKNOWN" weightage="20" keywordseo="FreshMenu">FreshMenu</keyword>, told ET. 
 Similarly, <keyword id="696009" type="UNKNOWN" weightage="20" keywordseo="Policybazaar">PolicyBazaar</keyword> is also looking forward at sprucing up talent and firing redundant employees. Most of its people, across the organisation, have been in the same role for the last four years. In that period, the company has grown 150 times. For the company, the focus will be on the fact that it must keep the annual growth rate as high as 100% while managing its people. 
 
Before all this, many companies sought out a large numbers of youngsters, thinking a degree alone would be enough. 
 "This led to many wrong hiring being made across startups looking to scale up, and consequent layoffs. This year, even investments will be hard to come by from, say, a year ago,” <keyword id="2128273" type="UNKNOWN" weightage="20" keywordseo="Jappreet-Sethi">Jappreet Sethi</keyword>, co-founder of YoStartups, which provides consultation services to startups, to ET. 
 
Now the startup are looking to build skills in-house, and for this, having the right talent in place is essential. Chaayos, which has been four years in operation, will focus on making the culture of the company very strong. 
 "In today's world, anyone can acquire the same technology, infrastructure and paraphernalia to set up a competing business. But it is only the right talent that will make the difference for Chaayos,” CEO <keyword id="2796372" type="UNKNOWN" weightage="20" keywordseo="Nitin-Saluja">Nitin Saluja</keyword>, told ET. 
 
PolicyBazaar will also look to sift out now redundant employees. 
 
"People hit a point where they must either grow to the next level or bow out. We need fresh ideas and a lot of restructuring. We have a 12-18 month approach for this. In some cases, when some people aren't able to make a change within that period, we have to replace them,” Yashish Dahiya, CEO of PolicyBazaar, told ET. 
 
Post-demonetisation, MobiKwik is geared to grow much quicker amid the push for digital payments. 
 "We will hire smarter and spend much more time and resources. The right attitude, the startup-oriented temperament and an uncompromising approach to quality is what we're looking for,” cofounder <keyword id="6587619" type="UNKNOWN" weightage="20" keywordseo="Upasana-Taku">Upasana Taku</keyword>, told ET. 
 There needs to be a focus on behavioural assessment and culture fit for candidates looking to join startups, not just skills, said <keyword id="4250" type="PERSON" weightage="20" keywordseo="Sethi">Sethi</keyword> of YoStartups. Startups need to realise there is no 'perfect' candidate.

Startups now are scaling up talent and hiring people with multiple skill-set

At the interbank <keyword id="6368276" type="General" weightage="20" keywordseo="foreign-exchange" source="Orion">foreign exchange</keyword>, the <keyword id="6355302" type="General" weightage="20" keywordseo="rupee" source="Orion">rupee</keyword> opened at 78.26 against the <keyword id="3266249" type="General" weightage="20" keywordseo="american-dollar" source="Orion">American dollar</keyword>, then inched higher to quote at 78.23, registering a rise of 9 paise from the previous close. On Wednesday, the rupee declined by 19 paise to settle at an all-time low of 78.32 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.05 per cent lower at 104.14. "The Indian Rupee opened stronger against the dollar this Thursday morning, tracking a further pullback in crude oil prices," said Sriram Iyer, Senior Research Analyst at Reliance Securities. Global oil benchmark Brent crude futures fell 2.17 per cent to USD 109.32 per barrel. Meanwhile, as per minutes of the latest Monetary Policy Committee (MPC) meeting released on Wednesday, all the six members of the MPC, including the RBI Governor, expressed concern over continued high inflation and stressed that the central bank's endeavour would be to bring down the rate of price rise within the target range. On the domestic equity market front, the 30-share Sensex was trading 305.1 points or 0.59 per cent higher at 52,127.63, while the broader NSE Nifty advanced 95.00 points or 0.62 per cent to 15,508.30. Foreign institutional investors remained net sellers in the capital market on Wednesday as they offloaded shares worth Rs 2,920.61 crore, as per stock exchange data. SEE ALSO: <a href="https://www.businessinsider.in/personal-finance/news/what-is-a-floating-rate-fixed-deposit-fd/articleshow/92405074.cms">A floating rate fixed deposit can be a good investment, for the next one year</a> <a href="https://www.businessinsider.in/business/startups/news/chaayos-raises-53-million-to-enhance-tech-expand-store-and-hire-more/articleshow/92404414.cms">Chaayos raises $53 million to enhance tech, expand store and hire more</a>

Rupee makes a comeback after its record-low; climbs up 7 paise against dollar

As <keyword id="1464841" type="General" weightage="50" keywordseo="edtech" source="Orion">edtech</keyword> platforms continue to lay off employees in India, US-based celebrity-driven learning provider <keyword id="2128865" type="General" weightage="100" keywordseo="masterclass" source="Orion">MasterClass</keyword> has announced it is reducing its workforce by 20 per cent. MasterClass CEO <keyword id="14267852" type="General" weightage="20" keywordseo="David-Rogier" source="Orion">David Rogier</keyword> said the decision was taken to "adapt to the worsening macro environment and get to self sustainability faster". The layoff impacts nearly 120 people across all teams from its 600-strong workforce. "It was the most difficult decision I've had to make since we launched 7 years ago, because our team poured their heart and soul into MasterClass. They are some of the most creative, curious, caring and dedicated people in the world," Rogier tweeted late on Wednesday. He said that this very tough step will "strengthen our position both financially and strategically, allowing us to serve our members, employees and instructors for many years to come". The edtech company, which was last valued at $2.75 billion, has pledged to provide healthcare to affected employees through the end of the year, reports <keyword id="179988" type="General" weightage="20" keywordseo="TechCrunch" source="Orion">TechCrunch</keyword>. MasterClass made remote education with aspirational content (entertainment) available from celebrities such as Serena Williams and Issa Rae. MasterClass raised more than $460 million from investors including IVP, NEA and Owl Ventures. Even former Chess World Champion Garry Kasparov launched a "MasterClass for chess lovers" platform. MasterClass charges a $180 annual subscription fee for people to access its library of content. In India, edtech platforms have laid off more than 3,600 employees to date. Overall, nearly 10,000 workers have lost their jobs in the Indian startup ecosystem in the last 2-3 months. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/what-is-a-floating-rate-fixed-deposit-fd/articleshow/92405074.cms">A floating rate fixed deposit can be a good investment, for the next one year</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/chaayos-raises-53-million-to-enhance-tech-expand-store-and-hire-more/articleshow/92404414.cms">Chaayos raises $53 million to enhance tech, expand store and hire more</a>

Edtech platform MasterClass fires 20% of its employees

The three private telecom operators -- <keyword id="6354504" type="General" weightage="80" keywordseo="reliance-jio" source="Orion">Reliance Jio</keyword>, <keyword id="8217436" type="General" weightage="50" keywordseo="bharti-airtel-and-vodafone-idea" source="Orion">Bharti Airtel and Vodafone Idea</keyword> -- are expected to buy spectrum worth ₹71,000 crore in the upcoming auction, leaving a vast majority of the radiowaves going under the hammer unsold, according to research firm <keyword id="252339" type="General" weightage="20" keywordseo="IIFL-Securities" source="Orion">IIFL Securities</keyword>. The government will next month auction about ₹4.3 lakh crore worth of airwaves capable of offering fifth-generation or 5G telecom services, including ultra-high-speed internet. According to the report released on Wednesday, the government's in-principle nod to allocate spectrum directly to enterprises is going to have an adverse outcome of the mega auction. "While supply is abundant, the government has not cut TRAI's proposed reserve prices despite telcos' assertion that these were still high. We see telcos bidding only for 4 of the 10 bands and spectrum should be sold at base price. We estimate spectrum outlay of ₹37500 crore, Rs 25000 crore and ₹8500 crore for <keyword id="2003276" type="General" weightage="100" keywordseo="jio" source="Orion">Jio</keyword>, Bharti and Vi," <keyword id="82050" type="General" weightage="20" keywordseo="IIFL" source="Orion">IIFL</keyword> said. The research firm further said if all telecom operators avail the option of equal annual installments over 20 years, the government would receive Rs 6,200 proceeds in the current financial year. It said telcos may give the premium 700 MHz band spectrum a miss as they await further reserve-price cuts. Jio and Bharti may bolster their sub-1 GHz holdings by bidding for the 850 MHz and 900 MHz bands, respectively. "We do not assume any bids in the 1800 MHz, 2100 MHz, 2300 MHz and 2500 MHz bands. Bids for 3.6 GHz are somewhat tricky to predict," it said. The report further said telcos could bid for small quantities in the 3.6 GHz and 28 GHz bandd -- seen as the prime radiowaves for 5G technology -- as it can lead to large savings in spectrum usage charges. The Department of Telecom (DoT) has issued a new order that will enable telecom operators to reduce spectrum usage charges proportionately on buying fresh radiowaves in the upcoming 5G auction. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/what-is-a-floating-rate-fixed-deposit-fd/articleshow/92405074.cms">A floating rate fixed deposit can be a good investment, for the next one year</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/chaayos-raises-53-million-to-enhance-tech-expand-store-and-hire-more/articleshow/92404414.cms">Chaayos raises $53 million to enhance tech, expand store and hire more</a>

Reliance Jio, Airtel, Vodafone Idea to buy spectrum worth ₹71,000 crore in the coming 5G auction, reveals report

<ul><li>The new guidelines by the Food Safety and Standards Authority of India state that restaurants will have to mention the calorific values on menu cards, boards or booklets. </li><li>Food aggregators like Zomato or Swiggy too have to comply with these new rules.</li><li>However, restaurant owners feel that this move is “uncalled for,” especially since it comes at a time when they are already struggling to recover from the COVID-19 pandemic.</li><li>While they are being introduced in India for the first time, similar laws already exist in countries like the US and the UK. </li></ul>Fast-food chains like McDonald’s, KFC, <keyword id="33542" type="COMPANY" weightage="20" keywordseo="Burger-King">Burger King</keyword> have already been forced to follow “calorie labelling” in several countries, including the US, and now they might have to add the numbers on their menus in India as well. The new guidelines issued by the Food Safety and Standards Authority of India (<keyword id="154680" type="ORGANIZATION" weightage="20" keywordseo="FSSAI">FSSAI</keyword>) state that restaurants or cafes with a central license or with more than ten outlets will have to mention the calorific values on menu cards, boards, or booklets. “Additionally, reference information on calorie requirements shall also be displayed clearly and prominently as an average active adult requires 2,000 kcal energy per day, however, calorie needs may vary”, said the guidelines. While players like Rebel Foods, the cloud kitchen company which operates chains like Faasos, Behrouz Biryani has always sworn by quoting the calorific value and defining the contents of the food served, as a customer-first approach, many other restaurant chains like Mamagoto, Chaayos, Wow Momos among others could soon have to deal with the calorie fight. And food aggregators like Zomato or Swiggy aren’t spared from the same as the new guidelines for labelling apply to e-commerce food business operators as well as the packaged food industry. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Arguments in favour of calorie labelling </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Arguments against the calorie labelling </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Customers can make a more informed decision – they want to know what they are consuming. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Customer consumption patterns won’t change – "a butter chicken will still be preferred over a salad". </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">India won’t go the Western way – will keep a check on obesity. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Marketing costs like new menus will be a burden for the already battered industry. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Food service establishments will develop cautious brand building practices across the board, guaranteeing quality output. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Standardization is not possible with Indian food, where chefs still have their own andaaz (style) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Restaurants fear harassment in the name of regulatory monitoring. </td></tr></tbody></table> Gurbaxish Singh Kohli, Vice President of the Federation of Hotels and Restaurant Association of India (FHRAI) says labelling the <keyword id="31991" type="PERSON" weightage="20" keywordseo="calorie-count">calorie count</keyword> on menu cards might not directly impact restaurants, but it’s uncalled for. “What is the mindset behind this? Will people come, read the calorie count and then leave the restaurant? Or instead of butter chicken they are going to order a salad?,” Kohli told Business Insider. The FHRAI has already written to the FSSAI, giving its inputs regarding the new guidelines. While Kohli said that he doesn’t disagree with the norms, it shouldn’t come as a mandate. “If the FSSAI wants to do this, it should be voluntary. In a period where we are already hit so badly, putting up these new norms… I would call it irrelevant,” said Kohli. Pradeep Shetty, the Sr Vice President of The Hotel and Restaurant Association of Western India said, “The intention of the FSSAI is noble, they want to bring down the trans fat. They don’t want India to go the way many western countries have. They aren’t prohibiting people from eating, but just to make an informed decision.” The standardization could still work for restaurants with a limited standard menu across the country – chains like McDonald’s, KFC, Dominos, among others. But it’s not going to be the same story for the very ‘Indian’ restaurants. Restaurants in India don’t have just one problem with the new labelling guidelines – in fact, the issues are going to be multifold. Kohli explained that having the new labelling guidelines means printed new menu cards leading to new marketing expenses, which are uncalled for. Moreover, the food at Indian restaurants is more often than not customised, which means customers have demands like “extra butter” or “make it with olive oil”. “That addition or deletion of butter makes all the difference in the calorific value. What we fear is more harassment for a sector that is already harassed,” he said. Counting the calories: The new global norm? Placing the calorie count on menu cards isn’t just a norm being introduced in India. It is already enforced in countries like the US and the UK as a measure to control obesity, albeit questionably. In fact, in the US a law was passed in 2018 that stated that any restaurant with 20 or more outlets will have to state the calorie count of its food items. Researchers at the Gerald J. and Dorothy R. Friedman School of Nutrition Science and Policy at Tufts University and Harvard TH Chan School of Public Health <a href="https://www.businessinsider.in/science/news/the-us-law-requiring-calorie-counts-on-menus-is-expected-to-save-tens-of-thousands-of-lives-and-over-10-billion-in-healthcare-costs-research-shows/articleshow/76324413.cms">conducted a study</a> that showed that such a move would produce $10-14 billion in healthcare cost savings and another $3-5 billion in societal cost savings. In India too, many brands have been following the standard of adding calorie count on menus even before it was a norm. “The customer today wants to know what they are consuming, how safe it is, where the produce came from, and so forth. To help with all these, it becomes essential for brands to help consumers with the required information, to keep their faith in the food they consume, and thereby, the brand. This will also develop cautious brand building practices across the board, guaranteeing quality output,” said Sagar Kochhar, Co-founder, Rebel Foods. While the policy has a long way to go, it poses another problem as well – how will the government keep a check on restaurants across the country. “That also means that restaurants will have to hire an expert to keep a check or define the calorie count, which is another added expense,” said Shetty. SEE ALSO: <a href="https://www.businessinsider.in/science/environment/news/supercomputer-shows-tropical-cyclones-hitting-india-are-going-get-more-destructive-that-is-until-the-flooding-starts/articleshow/79764803.cms">Supercomputer shows tropical cyclones hitting India are going get more destructive — that is until the flooding starts</a> <a href="https://www.businessinsider.in/stock-market/news/burger-king-ipo-investors-tripled-their-money-in-three-days/articleshow/79761366.cms">Burger King's IPO investors tripled their money in three days</a>

You Searched For "chaayos hiring" and got 6 results

Chaayos raises $53 million to enhance tech, expand store and hire more

IANS

Startups now are scaling up talent and hiring people with multiple skill-set

BI India Bureau

Rupee makes a comeback after its record-low; climbs up 7 paise against dollar

PTI

Edtech platform MasterClass fires 20% of its employees

IANS

Reliance Jio, Airtel, Vodafone Idea to buy spectrum worth ₹71,000 crore in the coming 5G auction, reveals report

PTI

India has a hot new debate on its plate: Should the likes of Burger King, KFC and McDonald’s menus mention calories?

Sanchita Dash

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