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<ul><li>In an interview with Business Insider, <keyword id="1560090" type="PERSON" weightage="20" keywordseo="Delhivery">Delhivery</keyword>’s chief technology officer and co-founder Kapil Bharati shared how the company leveraged technology to make sense of the disruption in logistics last year.</li><li>Just two-three days after the lockdown was announced in March last year, Delhivery was up and running in 4,500 pincodes and after 10 days, they were operational in 15,000 pincodes in India.</li><li>Delhivery has recently opened two new tech offices or data centres and is also hiring aggressively.</li></ul>It’s been over a year since the COVID-19 pandemic began ravaging India and disrupted the normal movement across the country, as restrictions and lockdowns took over. In this situation, one of the sectors to come forward in times of need was the logistics and supply chain industry. And leading from the front is Delhivery, which may soon get listed publicly. In an interview with Business Insider, Delhivery’s chief technology officer (CTO) and co-founder Kapil Bharati shared how the company leveraged technology to make sense of the disruption in logistics and also cut down on costs at the same time. Lockdown logistics “We started a bit early, in the beginning of March 2020, and started putting in various interventions in place for COVID-19. So by the time the lockdown actually happened, we had systems in place and the operational processes in place,” said Bharati. Just two-three days after the lockdown was announced in March last year, Delhivery was up and running in 4,500 pincodes and after 10 days, they were operational in 15,000 pincodes in India. They also used technology to quickly differentiate between essential and non-essential products to ensure seamless delivery. Kshitij Chopra, co-head, products and strategy at Delhivery explained how they went about it. “We modified the algorithms to identify the government regulations on what classifies as essential and what is non essential. That not only helped us move shipments or deliveries in the network, but also helped our business development teams to proactively reach out to clients who were shipping the same categories of goods saying ‘hey, you can actually continue shipping,’ because there was so much confusion on ground,” he said. The second problem was identifying where they can ship, since the containment zones didn’t allow deliveries. “We had people on ground, where we were able to quickly coordinate with local authorities. As and when the definition of essential was changing, we were also upgrading our backend systems,” said Bharati. And also, this is helping the SoftBank-backed logistics unicorn, which has been cutting down on its losses even before the pandemic. As per reports, in FY20, Delhivery’s net loss stood at ₹284.13 crore from ₹1,781.04 crore reported in FY19. They also doubled down on fast moving consumer goods (FMCG) and pharmaceutical clients. It was only after two-three months that the demand from e-commerce portals doubled. “After 10 months, we saw the volumes coming back to pre-COVID levels, and pretty much the entire network was up and running,” said Bharati. Using data for delivery For Delhivery, the physical infrastructure is just one part of the operations – innovating on their technology and data science capabilities is another. “We use a bunch of artificial intelligence (AI) and machine learning (ML) optimisation tools to answer questions like the best route, time etc., for delivery. This helps us get to a higher quality of service at a lower cost,” said Chopra. Delhivery also has a proprietary system, which does geocoding and helps connect last mile riders with end consignees in an efficient way. “Location intelligence is one big area for us, where we continue to develop our capabilities and keep on integrating it back into our system so we can drive more and more automation and system direction. The second is customer intelligence and the third aspect is product intelligence,” said Bharati. Hiring and tech expansions Delhivery’s focus remains in expanding its tech capabilities. The startup had also recently acqui-hired retail tech platform Primaseller in March 2021. And tech leaders of the company said that this acquisition also helped them in getting the right talent into the company. “We continue to look for such companies, startups especially, who are working in the space adjacent to us or in the data, AI/ML side of things. We constantly look for such potential partners that we can partner with or even a possible acquisition,” said Bharati. Delhivery has recently opened two new offices or data centers and is also hiring aggressively. “We are doubling down on our campus hiring this year,” he said. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/after-ditching-bitcoin-elon-musk-is-now-working-on-making-dogecoin-efficient/articleshow/82628521.cms">After ditching Bitcoin, Elon Musk is now working on making Dogecoin efficient</a> <a href="https://www.businessinsider.in/cryptocurrency/news/four-reasons-why-cryptocurrency-ethereum-has-been-on-a-bull-run/articleshow/82606761.cms">Four reasons why cryptocurrency Ethereum has been on a bull run</a> <a href="https://www.businessinsider.in/science/health/news/covid-19-a-couple-from-chennai-has-come-up-with-this-innovation-of-a-surgical-mask-vending-machine-/articleshow/82605058.cms">Even small initiatives during a pandemic can help save a thousand lives, these people are doing their bit</a>

IPO-bound Delhivery’s CTO shares how the logistics unicorn leveraged technology in a pandemic year

Ahead of its initial public offering (IPO) this year, supply chain services provider <keyword id="1560090" type="COMPANY" weightage="20" keywordseo="Delhivery">Delhivery</keyword> has reportedly raised $277 million in its latest round of funding, taking its market valuation to nearly $3 billion. According to a TechCrunch report, Delhivery disclosed the finding in its latest regulatory filing that has been led by US-headquartered investment firm <keyword id="6405604" type="COMPANY" weightage="20" keywordseo="fidelity">Fidelity</keyword>. Other investors reportedly are "Singapore's sovereign wealth fund GIC, Abu Dhabi's Chimera and UK's <keyword id="2649768" type="PERSON" weightage="20" keywordseo="Baillie-Gifford">Baillie Gifford</keyword>". When contacted, Delhivery refused to comment on the funding at the moment. Delhivery, a leading fulfillment platform for digital commerce, has raised about $1.23 billion to date. Earlier this year, Delhivery announced to expand its footprint by opening two new tech offices in Bengaluru and Ahmedabad, that will take its workforce strength to more than 500 employees in the country. It currently has more than 350 employees and centres in Gurgaon, Goa, and Hyderabad (in India), and Seattle in the US. "The current expansion ensures we stay ahead of the curve with tech and data science being the core business differentiators," said <keyword id="2863594" type="PERSON" weightage="20" keywordseo="Kapil-Bharati">Kapil Bharati</keyword>, Co-founder and <keyword id="238078" type="COMPANY" weightage="20" keywordseo="CTO">CTO</keyword>, Delhivery. Delhivery currently provides supply chain services at over 17,500 pin codes across 2,300 cities. It has fulfilled over 850 million transactions since inception and works with over 10,000 direct customers, which includes large and small e-commerce participants, SMEs, and leading enterprises and brands. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/good-nutrition-is-vital-if-you-are-recuperating-from-the-coronavirus-here-is-what-you-should-have/articleshow/83083748.cms">Good nutrition is vital if you are recuperating from the Coronavirus — here is what you should have</a> <a href="https://www.businessinsider.in/stock-market/news/from-bhel-to-heg-and-cg-power-these-infrastructure-stocks-have-turned-10000-to-as-much-as-30600-in-just-six-months/slidelist/83104471.cms">From BHEL to HEG and CG Power ⁠— these infrastructure stocks have turned ₹10,000 to as much as ₹30,600 in just six months</a>

Logistics platform Delhivery raises $277 million led by Fidelity, valuation touches $3 billion

<ul><li>The company’s founders Sahil Barua and Kapil Bharati will get appraisals ranging between ₹2.5 crore to ₹10 crore.</li><li>However, three of <keyword id="11931339" type="General" weightage="20" keywordseo="delhivery" source="Orion">Delhivery</keyword>’s founders are missing from this appraisal process.</li><li>It spent ₹85.6 crore on employee benefits costs in the financial year 2021.</li></ul>Top executives and founders of logistics company Delhivery are set to get multi-crore hikes in their salaries pretty soon, the Gurugram-based startup revealed in its draft red herring prospectus (DRHP) filed earlier on Tuesday. Delhivery — which was valued at $3 billion in March 2021 — intends to raise<a href="https://www.businessinsider.in/business/startups/news/logistics-startup-delhivery-files-for-a-nearly-1-billion-ipo/articleshow/87481889.cms"> ₹7,400 crore ($1 billion) with its IPO</a>. The proceeds of this issue will be used to strengthen the company’s technology stack, network and operations. The company’s DRHP has revealed that Delhivery has planned out appraisal for three of its top executives — Cofounder and Chief Executive Officer (CEO) Sahil Barua, Chief Business Officer (CBO) Sandeep Kumar Barasia and Kapil Bharati, who is the cofounder and chief technology officer (CTO) of Delhivery. Barua and Bharati’s new salary will be in the range of ₹2.5 crore to ₹10 crore. Meanwhile, Barasia is scheduled to get an increment in the range of ₹4 crore to ₹12 crore. The appraisal does not include gratuity, medical insurance and other benefits the company offers. There will be additional benefits offered to the three executives on top of this. Delhivery cofounder’s salary and remuneration have increased in the first quarter of FY2022. Both the cofounders’ — Barua and Bharati — salary for Q1 of FY2022 was nearly as much as the remuneration for the entire FY2021. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></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;">Executive </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;">Designation </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;">Salary in financial year ended in March 2021 </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;">Salary in April to June quarter </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;">Sahil Barua </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;">Cofounder and CEO </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;">₹4.3 crore </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;">₹3.5 crore </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;">Kapil Bharati </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;">Cofounder and CTO </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;">₹3.9 crore </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;">₹3.4 crore </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;">Sandeep Kumar Barasia </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;">CBO </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;">₹12.9 crore </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;">₹4.7 crore </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;">Amit Agarwal </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;">CFO </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;">₹4.5 crore </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;">₹3.3 crore </td></tr></tbody><tbody></tbody><tbody></tbody></table>Source: <keyword id="12455579" type="General" weightage="20" keywordseo="delhivery-drhp" source="Orion">Delhivery DRHP</keyword> *Note: This includes salary and additional benefits This appraisal in accordance with the shareholders’ resolution dated October 15 and employment agreement dated October 13. The bonus would finally be decided by Delhivery’s Nomination and Remuneration Committee. Three of Delhivery’s founders are still missing from the appraisal process Delhivery was founded by Mohit Tandon, Sahil Barua, Bhavesh Manglani, Kapil Bharati and Suraj Saharan in 2011. Two of the company’s cofounders — Manglani and Tandon — <a href="https://www.businessinsider.in/business/startups/news/these-were-the-biggest-co-founder-exits-in-the-indian-startup-ecosystem/slidelist/84224683.cms">decided to step away</a> from the company, reportedly to meet regulatory requirements before starting their initial public offering (IPO) process. Cofounder Suraj Saharan, who is the head of New Ventures at Delhivery, was on a sabbatical in the financial year 2021. He did not receive any compensation from the company for fiscal 2021. Delhivery reported a revenue of ₹806.7 crore in the financial year 2021, with its loss mounting to ₹27.3 crore. It spent ₹85.6 crore on employee benefits costs, which includes salaries and wages, gratuity and more. The company has over 12,600 employees. Operations and network design is the biggest workforce in Delhivery’s employee mix. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></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;">Function </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;">Employees </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;">Operations and network design </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;">10,942 </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;">Sales and business development </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;">499 </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;">Engineering, data sciences and product </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;">474 </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;">Customer services </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;">375 </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;">Other corporate functions </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;">275 </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;">Total </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;">12,665 </td></tr></tbody><tbody></tbody><tbody></tbody></table> SEE ALSO <a href="https://www.businessinsider.in/finance/banks/news/former-sbi-chairman-pratip-chaudhuris-arrest-will-lead-to-policy-paralysis-say-experts/articleshow/87482347.cms" data-type="tilCustomLink" style="">The arrest of former SBI chief Pratip Chaudhuri may prevent bankers from making any risky decisions, say experts</a> <a href="https://www.businessinsider.in/business/startups/news/logistics-startup-delhivery-files-for-a-nearly-1-billion-ipo/articleshow/87481889.cms" style="">Logistics startup Delhivery files for a nearly $1 billion IPO</a> <a href="https://www.businessinsider.in/business/telecom/news/elon-musk-owned-starlink-forms-subsidiary-in-india-will-soon-apply-for-licenses/articleshow/87480590.cms" style="">Elon Musk-owned Starlink forms subsidiary in India, will soon apply for licenses</a>

IPO-bound Delhivery’s top executives are set to get an appraisal of up to ₹12 crore soon

New Delhi, <keyword id="10588533" type="UNKNOWN" weightage="20" keywordseo="supply-chain-services-provider-delhivery">Supply chain services provider Delhivery</keyword> on Wednesday announced to expand its India footprint by opening two new tech offices in <keyword id="6354321" type="COMPANY" weightage="20" keywordseo="Bengaluru">Bengaluru</keyword> and <keyword id="5065" type="LOCATION" weightage="20" keywordseo="Ahmedabad">Ahmedabad</keyword>, alongside creating over 500 <keyword id="65931" type="PERSON" weightage="20" keywordseo="New-jobs">new jobs</keyword> in the country. It currently has more than 350 employees and centres in <keyword id="6361586" type="LOCATION" weightage="20" keywordseo="Gurgaon">Gurgaon</keyword>, <keyword id="826" type="PERSON" weightage="20" keywordseo="Goa">Goa</keyword>, and <keyword id="6354552" type="LOCATION" weightage="20" keywordseo="hyderabad">Hyderabad</keyword> (in India), and Seattle in the US. The new recruitments will happen across <keyword id="6355118" type="UNKNOWN" weightage="20" keywordseo="technology">technology</keyword>, product, and data science functions by the next fiscal, the company said in a statement. "The current expansion ensures we stay ahead of the curve with tech and data science being the core business differentiators," said Kapil Bharati, Co-founder and CTO, <keyword id="1560090" type="COMPANY" weightage="20" keywordseo="Delhivery">Delhivery</keyword>. "Bengaluru has a great talent pool, and we want to tap into that. With Ahmedabad, we are further expanding into non-metro cities and will continue to add more in the future," he added. Delhivery currently provides supply chain services at over 17,500 pin codes across 2,300 cities. It has fulfilled over 850 million transactions since inception and works with over 10,000 direct customers, which includes large and small e-commerce participants, SMEs, and leading enterprises and brands. Bharati said that the fast spread of Covid-19 and initial nationwide lockdowns posed serious challenges and uncertainties in their supply chain network. "Our technology stack acted as a significant differentiator during the time, enabling us to answer critical questions such as what essential and non-essential goods could move where, and how," he added. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/heres-why-byjus-may-want-to-spend-a-billion-dollars-on-acquiring-aakash-educational-services/articleshow/80243456.cms">Here's why BYJU’S may want to spend a billion dollars on physical coaching centres</a> <a href="https://www.businessinsider.in/business/startups/news/amid-all-the-bitcoin-hype-another-indian-cryptocurrency-startup-coinswitch-kuber-gets-15-million-in-funding/articleshow/80245564.cms">Amid all the Bitcoin hype, another Indian cryptocurrency startup CoinSwitch Kuber gets $15 million in funding</a> <a href="https://www.businessinsider.in/budget/news/budget-2021-may-be-an-opportunity-to-help-indian-electric-vehicles-to-compete-with-elon-musks-tesla/articleshow/80243751.cms">India needs Elon Musk’s Tesla as well as local electric cars to compete⁠ — here’s what Finance Minister’s Budget 2021 may do</a>

Delhivery announces opening of two new tech Offices; plans expand to 500+ employees by next fiscal

<ul><li><keyword id="12437554" type="General" weightage="100" keywordseo="zepto" source="Orion">Zepto</keyword> elevates <keyword id="184778" type="General" weightage="80" keywordseo="ankit-agarwal" source="Orion">Ankit Agarwal</keyword> as CPO to improve customer experience and drive innovation across categories.</li><li>Zepto’s new CPO has also been a founder in the past, with Orinko, trying to build India’s first ever fruits and vegetables consumer brand.</li><li>Zepto turned the first unicorn of 2023 with a valuation of $1.4 bn last month and is working towards a public listing over the next 12-18 months. </li></ul> Quick commerce player Zepto on Monday announced the elevation of Ankit Agarwal as the company’s Chief Product Officer. A major part of Zepto’s journey ahead will be driven by innovation in product and technology. Ankit Agarwal, CPO, Zepto, explains, “We're not following trends; we're setting them. I'm excited to be part of that team that is revolutionising commerce in India.” Kaivalya Vohra, Co-founder and CTO, Zepto, said, “Ankit joined us about a year ago and in that time he has built strong rigour within the fulfilment charter. We've been able to ship world class technology over the last year; everything from building our entire last mile stack in-house to building and rolling out a warehouse management system in &lt;6 months, and many other needle-moving initiatives.” With 13+ years of product experience in companies such as Flipkart, Delhivery and Infra.Market, Ankit joined Zepto in August 2022 as SVP of Product to lead the entire fulfilment charter, spanning the entirety of supply chain, last mile and finance tech. Ankit has also been a founder in the past, with Orinko, trying to build India’s first ever fruits and vegetables consumer brand. With Ankit’s elevation, he will now own product end-to-end, from consumer to supply chain and last mile. The quick commerce player has its job cut out after it became a unicorn last month. Zepto is India’s 84th unicorn with its latest fundraise. India had 83 unicorns at the start of the year but several startups have lost that tag with down rounds and cuts in valuation. The quick commerce player, started by two teenagers two years ago, has raised $200 million through a Series E round at a valuation of $1.4 billion. The latest round is entirely primary. The agenda is to build a good capital base ahead of a potential listing in 2025. With this round, the startup has brought on board a bunch of new investors. This round was led by StepStone Group and this investment into Zepto is their first direct investment in an Indian company). Additionally, Goodwater Capital, a consumer-focused venture capital firm based in California, joined the round as a new investor. Notably, existing investors, like Nexus Venture Partners, Glade Brook Capital, Lachy Groom and more, doubled down on their investments in Zepto with meaningful follow-on investments.

Zepto appoints Ankit Agarwal as chief product officer to drive innovation in fulfilment

<ul><li>Setting up a startup is just the first in many steps involved in making it successful. </li><li>Now, a report by Boston Consulting Group (BCG), Times Bridge and TiE Delhi-NCR has decoded these learnings of <keyword id="6362513" type="General" weightage="20" keywordseo="startups" source="Orion">startups</keyword> from diverse sectors. </li><li>Of the 58,000 startups set up in India as of 2022, only 40,000 are still active, underscoring that turning a startup into a successful business is not as easy as setting one up. </li><li>Here are the lessons from some of India’s most successful startups on how to hyperscale successfully. </li></ul>Setting up a startup is just the first step in a long journey, and late-stage startups which have found their footing need to undertake several measures to make sure they can go from being just good to great. Now, a report by Boston Consulting Group (BCG), Times Bridge and TiE Delhi-NCR has decoded these learnings of startups from diverse sectors. According to the report titled ‘Road to <keyword id="16830748" type="General" weightage="20" keywordseo="hyperscaling" source="Orion">Hyperscaling</keyword> in India’, out of the 58,000 startups set up as of 2022, only 40,000 are still active, underscoring that turning a startup into a successful business is not as easy as setting one up. What comes after setting up a startup is hyperscaling, which is defined as a phase where startups grow fast to capture the market by ensuring an optimal product market fit, beating the competition by gaining sufficient market share, and achieving critical mass organically. <cmsannotation type="cmsannotation" annotationid="The startup explosion" comment="subhead" text="The startup explosion">The startup explosion</cmsannotation> India is home to nearly 58,000 startups as of 2022, with 11,000 of those startups having been launched in the last five years. Various factors like increasing digital adoption, a young population, an expanding middle class and conducive public policy has led to an explosion in the number of startups. The report adds that <keyword id="982553" type="General" weightage="20" keywordseo="Indian-startups" source="Orion">Indian startups</keyword> have raised over $130 billion between 2014 and 2022, growing at a faster clip than rival China. It’s not just startups that India is rich in – according to the report, India has the third most in the world unicorns at 106 as of 2022. Nearly 60% of these unicorns are concentrated across three categories, namely enterprise tech, fintech and ecommerce. “I recall how challenging it was back then to take the road less travelled, to raise funds to build and fuel growth with nascent digital penetration and a deep-rooted fear of online payments,” said Deep Kalra, founder and chairman, MakeMyTrip, and board member, TiE Delhi-NCR. While it helps that the Indian population is young at an average age of a little over 28 years, the surge in digital adoption, a conducive policy environment and a growing middle class make for a solid business case for setting up a startup. <cmsannotation type="cmsannotation" annotationid="Unlocking the hyperscaling magic" comment="subhead" text="Unlocking the hyperscaling magic">Unlocking the hyperscaling magic</cmsannotation> According to the report, Indian startups have adopted 8 key unlock themes to overcome challenges involved in hyperscaling. This includes focusing on customers, building the right teams and culture, identifying the right technologies, solving unit economics early, outpacing competitors and leveraging capital optimally. 1. Tailoring the business to customers’ nuances For instance, catering to the local nuances and understanding the deep-rooted behaviour of customers is visible in how Meesho hyperscaled itself – the ecommerce platform designed a unique reseller programme tailored for tier 2 and tier 3 cities. As a result, 70% of Meesho’s business comes from these tier 2/3 cities. “There's still a huge part of the population uncomfortable to purchase online unless someone helps them with it, and in our case that's our resellers. Micro influence matters,” said Sanjeev Barnwal, founder and CTO, Meesho. Pepperfry, an online marketplace for furniture, set up localised franchisee stores offline to cater to small town preferences where customers want to check products out in person before making a purchase. 2. Deepening moats for customer stickiness Given that startups spend a considerable amount in acquiring new users and customers, having good customer stickiness is critical to the long-term sustainability of the business. This can be achieved by deepening moats. “Indian unicorns have successfully moved from acquisition to retention and monetization through a "full-stack" approach,” the report said. For instance, jobs portal Naukri leveraged natural network effects and capitalised on its first-mover advantage to hyperscale, while discount broker Zerodha focused on its tech stack to build trust. 3. Solving unit economics early Growth is usually the focus of startups, which is also underlined by the fact that only 23% of Indian founders ranked profitability higher than growth, according to the report. However, startups like Delhivery have successfully balanced growth and profitability by ensuring gross margins are positive from Day 1, and maintaining discipline while taking decisions to expand the business. As a result, it took the logistics startup only four years to break-even in its core delivery business. 4. Building the right teams and culture A startup’s success also depends on its ability to attract good talent and retain it as well, apart from fostering a good team culture. One such instance is that of Zepto, which developed accelerated career pathways to attract and hold talent. 5. Identifying the right tech stack for growth Technology is at the core of almost everything, and more so, startups. As such, identifying the right technology stack is critical not only for launching startups, but also to hyperscale them. Using scalable technology also provides the flexibility that startups need in their early days as they try to find the best product market fit before teeing off. The report states that Indian startups have addressed this by designing a platform right from the start, instead of designing a product, and subsequently innovating and evolving their tech infrastructure to suit their needs. Uber India is a notable example of building a unified technology stack that provides for scalability. In the Indian context, Uber India built full-tech solutions locally, like Uber Bus and Uber Rentals which can be scaled to other markets as well. <cmsannotation type="cmsannotation" annotationid="Pitfalls of hyperscaling" comment="subhead" text="Pitfalls of hyperscaling">Pitfalls of hyperscaling</cmsannotation> Hyperscaling a startup involves several pitfalls, with the most common being the balance between growth and profitability. According to the report, only 18 out of 100 Indian unicorns are profitable, underlining just how difficult it is to turn a profit. On a related tangent, rapid expansion can also be a highly tempting path to take successful models of one market to another. Another issue that plagues startups while hyperscaling is retaining customers in a competitive and price-sensitive market. Access to ‘cheap capital’ also encourages poor discipline and governance issues, and leads to misreporting or fraud in some extreme cases, the report added. Lastly, the organisation's culture is also one of the victims of hyperscaling. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/tcs-is-an-integral-part-of-who-i-am-ill-be-a-part-of-tcs-too-as-it-soars-rajesh-gopinathan/articleshow/98722638.cms">TCS is an integral part of who I am, I’ll be a part of TCS too as it soars: Rajesh Gopinathan</a> <a href="https://www.businessinsider.in/stock-market/news/reliance-shares-down-22-from-all-time-high-attractive-entry-opportunity-says-jp-morgan/articleshow/98725589.cms">Reliance shares down 22% from all-time high: Attractive entry opportunity, says JP Morgan</a> <a href="https://www.businessinsider.in/finance/banks/news/time-to-move-on-from-ceo-extension-debate-for-indusind-bank-and-focus-on-the-fundamentals/articleshow/98693999.cms">Time to move on from CEO extension debate for IndusInd Bank and focus on the fundamentals</a>

Customer stickiness to solving unit economics early: Lessons in hyperscaling startups, according to BCG-Times Bridge-TiE Delhi-NCR report

<ul><li><keyword id="12042233" type="General" weightage="20" keywordseo="gokwik" source="Orion">GoKwik</keyword> offers tools and solutions to direct-to-consumer (<keyword id="4055555" type="General" weightage="20" keywordseo="D2C" source="Orion">D2C</keyword>) that offer better experience to users.</li><li>Matrix Partners India led the company’s pre-Series A round, with participation from RTP Global.</li><li>In its first year of operations, the company has set plans for international expansion.</li></ul>The Indian <keyword id="436047" type="General" weightage="20" keywordseo="ecommerce" source="Orion">ecommerce</keyword> industry was growing exponentially last year as customers and several brands were embarking on the digital journey amidst the pandemic. But the show was largely run by giants like Amazon and Flipkart. That’s when <keyword id="4075194" type="General" weightage="20" keywordseo="Chirag-Taneja" source="Orion">Chirag Taneja</keyword> came up with the solution to help Indian brands to set up their own identity in the world of digital retail. GoKwik, launched in January 2021, offers tools and solutions to direct-to-consumer (D2C) brands — that sell directly to customers through their own website — to offer better experience to users. “If you look at D2C websites and compare it to the giants, you’ll realise that many things are broken. If e-commerce has to boom then someone will need to fix these experiences. That is what we do as a company,” Chirag Taneja, chief executive (CEO) and co-founder of GoKwik, told Business Insider. Fundraise to international expansion — all planned out GoKwik on Tuesday, September 7, announced a $5.5 million fundraise in order to expand its presence further. The pre-Series A round was led by Matrix Partners India, with participation of global investors like RTP Global. Several marquee angel investors and serial entrepreneurs also participated in the round. This includes Jupiter’s Jitendra Gupta, Uni’s Nitin Gupta, AngelList India’s Utsav Somani, CarDekho’s Umang Kumar, Shaadi.com’s Anupam Mittal, Livspace’s Ramakant Sharma, OfBusiness’ Asish Mohapatra and more. Over 12 angels invested in the pre-Series A round. GoKwik plans to use this funding to double its current workforce of 75 employees by 2022 and expand to other Southeast Asian countries that face the same ecommerce related challenges as India. The company has zeroed down on Indonesia, Vietnam and Malaysia for now. The Gurugram-based company notes that they will have an early mover advantage if they start international expansion now. For its international play, the company will focus on building local and central teams in the specific region and partner with local players. The technology and the product would largely remain the same for these markets, where cash-on-delivery would be a more common mode of payment. The Gurgaon-based startup helps retailers overcome challenges of setting up online stores and provide better experience to their customers. The company claims to have processed over a million transactions since its launch. Helping boAt, MamaEarth, LimeRoad and more The e-commerce enabler has also added 75 customers to its bucket list, ranging from marketplaces to publicly listed companies and renowned D2C brands. This includes boAt, Mamaearth, The Man Company, Heads Up For Tails, LimeRoad, ManMatters, The Whole Truth, The Souled Store, and TCNS Clothing Co, which owns brands like W, Aurelia and Wishful. Taneja noted that there are four legs of e-commerce — discovery, search/selection, conversion, retention. GoKwik is solving all these problems with its solution, as per Taneja. Ecommerce is expanding and one would need to use ecommerce enablers to bring the cost down, he added. The company was founded by Taneja and Vivek Bajpai. Taneja has previously worked as the chief revenue officer of Bombay Shaving Company, assistant vice president at Yes Bank and founded a food tech company Ketchupp in 2015. Bajpai, chief technology officer (CTO) and co-founder of GoKwik, was the head of technology at an adtech company SilverPush. Ankush Talwar, chief data scientist at GoKwik, is also part of the founding team. He previously was associated with Kognoz Research &amp; Consulting, Quantiphi and Publicis. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/logistics-company-delhivery-raises-76-million-ahead-of-its-ipo/articleshow/85997440.cms">Former Tiger Global exec Lee Fixel picks Delhivery as his second bet in India, after Inshorts</a> <a href="https://www.businessinsider.in/tech/news/el-salvador-just-bought-400-bitcoin-and-plans-to-buy-a-lot-more-a-day-before-making-it-an-official-currency/articleshow/85995497.cms">El Salvador just bought 400 bitcoin and plans to buy 'a lot more,' a day before making it an official currency</a> <a href="https://www.businessinsider.in/retail/news/chipotles-digital-sales-hit-a-record-2-billion-so-far-this-year-heres-how-its-loyalty-program-led-the-company-to-success/articleshow/85995495.cms">Chipotle's digital sales hit a record $2 billion so far this year - here's how its loyalty program led the company to success</a>

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IPO-bound Delhivery’s CTO shares how the logistics unicorn leveraged technology in a pandemic year

Sanchita Dash

Logistics platform Delhivery raises $277 million led by Fidelity, valuation touches $3 billion

IANS

IPO-bound Delhivery’s top executives are set to get an appraisal of up to ₹12 crore soon

Kritti Bhalla

Delhivery announces opening of two new tech Offices; plans expand to 500+ employees by next fiscal

IANS

Zepto appoints Ankit Agarwal as chief product officer to drive innovation in fulfilment

BI India Bureau

Customer stickiness to solving unit economics early: Lessons in hyperscaling startups, according to BCG-Times Bridge-TiE Delhi-NCR report

Rounak Jain

A former Bombay Shaving Company exec is helping brands like boAt, MamaEarth go big on ecommerce ⁠— and he now wants to take it abroad

Kritti Bhalla

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