<ul><li>RIL’s annual general meetings have been labelled ‘carnivals’ by market experts due to huge attendance.</li><li>The company has been acquiring many companies across sectors, above and beyond the many interests it already holds.</li><li>Here are some of the questions that investors can ask the chairman at the <keyword id="45644" type="General" weightage="80" keywordseo="agm" source="Orion">AGM</keyword> about the future course of the conglomerate. </li></ul>It’s been decades since <keyword id="6418409" type="General" weightage="50" keywordseo="dhirubhai-ambani" source="Orion">Dhirubhai Ambani</keyword> famously said that a phone call should be cheaper than a postcard. No one writes postcards anymore. But <keyword id="10924" type="General" weightage="100" keywordseo="ambani" source="Orion">Ambani</keyword> generations are still experimenting with newer and newer ways to bring people ‘closer’. During the first pandemic year, Isha and Akash Ambani conversed in their 2D and 3D avatars via a holographic call at the company’s 41st annual general meeting; showcasing their futuristic product – <keyword id="9579590" type="General" weightage="50" keywordseo="jio-glass" source="Orion">Jio Glass</keyword>. The twins kept two important traditions alive – announcing the next-big thing of the group’s ever expanding interests; and of course the dazzle factor of AGMs. The celeb factor In 2019, <keyword id="3820" type="General" weightage="80" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword> connected to Alphabet CEO Satya Nadella after he announced a deal with Google. Two years later, he ‘welcomed’ Saudi Aramco’s chairman Yasir Al-Rumayyan onto the board. The $15 billion deal with the oil major was cancelled a few months later over valuation mismatch. Yet the optics around the ‘big announcements’ have worked so well that most of the time, RIL stock tends to appreciate ahead of an AGM. Especially since 2016, when telecom’s soft launch kicked off, it never did die down. Most of them also center around technologies of tomorrow – be it shopping via VR or retail going online. The range and depth of Relianceverse It’s not just metaverse or virtual reality that the group is banking on – the sheer number of acquisitions and interest that it has in startups has turned its interests into a mini Relianceverse. While they have acquired interests in over 20 companies since 2019. The ticket size of these acquisitions range from $2 million to $200 million from Sankhya Sutra Labs to Dunzo, respectively. The companies belong to niche specializations – from fluid dynamics software simulation software VR imaging to ERP and SaaS companies, e-commerce companies, creative home solutions to AI powered learning platforms. The latest acquisitions however pertain to lithium and sodium battery solutions as the group ventures into green hydrogen. According to a Bank of America research report, the historical M&amp;As show a pattern – they all were done to add value or fill gaps in RIL’s consumer offerings where management believed it was difficult to build in-house. “All investments fall under five categories– telecom, retail, education, healthcare, and agriculture. A new category of clean-energy was added in 2020-21 where further investments were made with an intention of getting access to clean-tech,” the report said. This BoFA rule however exceptions – the luxury hotel of Mandarin Oriental in New York for $98 million, UK based hotel StokePark for $79 million, SkyTran a clean tech podcar transport system based in the US, and also a smaller acquisition of IMG Reliance, an event management company for $7 million. This is the part that investors seek clarity from the management and the best way to do it is the annual general meeting that’s to be held on August 29, 2022. Questions to be asked Reliance AGMs are blessed with a large and wide attendance, making market watcher S P Tulsian once call it a ‘carnival’. While most people come to get a glimpse of India’s richest family members and some others entertain with shayaris, investors also need to do what AGMs are there for — to ask questions about the direction of the business and the value its creating. Currently, RIL is an oil to telecom to retail to new energy business that’s being driven in different directions. Here are some of the questions that can be answered at the AGM. <ol><li>Why are we acquiring so many companies across business and are we getting into hotels and lifestyle business, especially in international markets? </li><li><keyword id="8508699" type="General" weightage="50" keywordseo="jio-mart" source="Orion">Jio Mart</keyword> is nowhere close to Amazon, Flipkart or even startups like Swiggy Instamart. When can we expect a possible sync with Dunzo and become a serious e-commerce player?? </li><li>Reliance JioTV and JioFibre were launched with the promise of first show movies, but Voot and JioTV are nowhere close to Hotstar, Prime or Netflix. Will the $3 billion IPL media rights be a game changer? </li><li>We paid nearly $11 billion for 5G spectrum, when can we expect the payoff? And, when will we reach the 500 million subscriber target? </li><li>Reliance has plans for green hydrogen, biogas and solar PV manufacturing, which are capital intensive. When can we expect a demerger or fund raising? </li><li>The IPO market has become feeble due to international market conditions. Will that delay the demerger and listing of retail and telecom businesses? </li><li>Akash Ambani has been elevated as the head of telecom business. Is there a complete succession plan in place? </li></ol>SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/gautam-adanis-overly-ambitious-growth-plans-can-spiral-into-a-massive-debt-trap-fitch/articleshow/93725014.cms">Gautam Adani’s overly ambitious growth plans can spiral into a massive debt trap: Fitch</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/research/news/drdo-has-developed-a-facial-recognition-system-that-claims-to-see-through-masks-and-disguise/articleshow/93726351.cms">DRDO has developed a facial recognition system that claims to see through masks and disguise</a>

What should investors ask Mukesh Ambani at his company’s AGM?

<ul><li>Fintech companies like Paytm and PB Fintech have not only reported better than expected earnings but also narrowed their losses significantly.</li><li>While Zomato and Nykaa did not deliver overall improvement in financials, analysts still have high hopes for them.</li><li>Shares of Paytm rose nearly 22% from February 3 when it reported its quarterly earnings.</li><li>Analysts say the long-term growth potential of these companies is huge in spite of the short-term challenges.</li></ul>There’s no end to the woes of new age technology companies. They are in the spotlight yet again, after their mixed performance during the December quarter. Fintech companies like Paytm and PB Fintech have not only reported better than expected earnings but also narrowed their losses significantly. Zomato and Nykaa did not deliver overall improvement in financials, but analysts remain optimistic. Another new age company among talks is hyperlocal delivery startup Dunzo with elevated losses and massive valuation. Billionaire and chairperson of RPG Group highlighted the financials of the company <a href="https://twitter.com/hvgoenka/status/1625843597626183680">in a tweet </a>on February 15. “New age digital stocks are not doing great primarily because the market is not doing great. India is underperforming this year with a negative 2.34 % return YTD while markets like China, HongKong and South Korea are doing very well. When India’s underperformance changes, new age digital companies also will start performing. Some results from this segment are very good like Paytm. Zomato also has done reasonably well, but Nykaa’s results came below expectations,” said Dr V K Vijayakumar, chief investment strategist at Geojit Financial Services. New age technology companies have been under the scanner because of the massive underperformance in their share prices due to elevated valuation. However, analysts believe that the long term bet on these companies is worth it despite several roadblocks. “The long-term growth potential of these companies is huge and, therefore, in spite of the short-term challenges, these stocks have buyers particularly after the sharp correction from their listing peak prices,” added Vijayakumar. <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;">New age companies </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;">Q3 FY23 Profit/Loss </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;">Q3 FY22 Profit/Loss </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;">Paytm </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;">-₹392 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;">-₹779 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;">Zomato </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;">-₹347 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;">-₹63 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;">PB Fintech (Policybazaar) </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;">-₹87 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;">-₹298 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;">Nykaa </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;">₹8.2 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;">₹27.9 crore </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Paytm’s first ever quarterly operating profit impresses, builds hope The fintech company’s December quarter performance was a big surprise for many as it posted its first ever quarterly operating profit as it narrowed down losses. The growth was driven by pick up in merchant subscription revenues and loan distribution. “Biggest surprise is distribution business, control of cashbacks, opex,” said Macquarie in a report. Shares of the company rose nearly 22% from February 3 when it reported its quarterly earnings. Macquarie has upgraded rating on the company’s stock to ‘Outperform’ from ‘Underperform’ with a target price of ₹800. “PayTM has positively surprised on the distribution of financial services revenue by a wide margin and has also managed to control overall expenses and charges. At the time of listing, profit and free cash flow were not even a part of management’s discussion. However, we see a very visible change in approach of management to deliver profit, evidenced, we believe, by the core EBIDTA profitability that was reported recently,” said Macquarie in a report. Zomato: A promising road to profitability Zomato reported better than expected Q3 FY23 revenues, and analysts believe it may reach profitability by the end of the current financial year. “Depending on execution-related wins, the company (ex of quick commerce) may clock profitability in Q4FY23 itself, two quarters ahead of their guidance,” said analysts at Nuvama Institutional Equities. “Zomato’s road to profitability has grown even more promising. Zomato (ex-quick commerce) clocked adj. EBITDA level profitability in the month of Jan-23. Depending on execution-related wins, the company (ex of quick commerce) may clock profitability in Q4FY23 itself, two quarters ahead of their guidance,” added the report. Analysts say Zomato’s relaunch of its Gold membership plan should bring growth back. Most brokerage houses have <a href="https://www.businessinsider.in/business/news/no-long-tail-effect-zomato-banks-on-demand-recovery-in-future-even-as-it-shuts-operations-in-225-cities-on-poor-performance/articleshow/97907071.cms">maintained a ‘Buy’ rating </a>on the company’s stock. “The fact that most of these companies have put forth their strategy to cut down losses and become profitable in the near future builds hope for investors. For example, Zomato’s decision to cut operations in 225 smaller cities. Moreover, since most of these <keyword id="10951575" type="General" weightage="20" keywordseo="new-age-tech-companies" source="Orion">new age tech companies</keyword> are direct consumer based there are expectations of inflation cooling down and boosting consumer spend.” Shrikant Chouhan, head of equity research (retail) at Kotak Securities told Business Insider India. Nykaa: Premium valuation reflects solid outlook, say analysts Nykaa, reported a 70% on year decline in net profit in Q3 <a href="https://www.businessinsider.in/business/corporates/news/nykaas-stock-plunges-4-2-after-its-q3-net-profit-slips-70/articleshow/97901748.cms">missing analysts expectations</a>. Despite this, brokerages believe the best is yet to come for the company. During a post-earnings conference call Falguni Nayar, executive chairperson, MD and CEO of Nykaa said that although inflationary pressures were present, it wasn’t that big of an issue for many of Nykaa’s customers. Q3 is considered to be a seasonal quarter for the company because of the festive season and despite macro challenges Nykaa’s growth was applauded by analysts. “In a quarter rampaged by a tougher macroeconomic environment, Nykaa reported substantial growth in Q3FY23 numbers,” said a report by JM Financial. The brokerage firm has assigned a ‘Buy’ rating on the stock. “We continue to see increased strength of the dominant positioning in beauty and personal care (BPC) vertical while the newcomer, fashion vertical, has gained market share at the cost of a sharp dip in contribution margin,” added the report. Nykaa’s EBITDA margins came under pressure and fell to 5.3% in Q3, as against 6.3% in the same period last year. “While we expect Nykaa’s GMV growth, at 35% in FY23E-25E, to be the highest within our global ecommerce coverage, we believe Nykaa’s valuation premium (FY24 EV/GMV of 3.1x vs 0.5x median for peers) already reflects this solid growth outlook and Nykaa’s stronger margin profile,” said a report by Goldman Sachs. The investment banker has assigned a ‘Neutral’ rating on the stock. PB Fintech on course to profitability soon The December quarter performance of PB Fintech, the parent company of Policybazaar and Paisabazaar, was another surprise for investors as the company narrowed its losses significantly. Its insurance premiums jumped 70.3% on year to ₹30.3 billion driven by a strong showing across segments. “Given its market share of 90%-plus in online insurance sales and a growing offline presence, PB is poised to post strong sales,” said analysts at Nuvama Institutional Equities. Further, the management expects revenue and margins to improve further as agent productivity rises and benefits of appointments channel are realised. They hinted at a sharp profitability uptick in Q4, say analysts. “This growth becomes even more impressive considering the seasonally weak Q3 for insurance, where new business premiums for life and general insurance declined QoQ by 19% and 12%, respectively,” said a report by JM Financial. New-age internet based businesses, like their unlisted peers, have been chalking out strategies that lead them towards profitability and are already on a growth path aided by their unique business propositions — allaying investor and analyst concerns. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/google-india-layoffs-nearly-500-people-fired/articleshow/98001522.cms">Google layoffs reach Indian shores, nearly 500 employees sacked late Thursday</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/neal-mohan-indian-american-guy-journey-to-becoming-youtube-ceo/slidelist/98001073.cms">From Lucknow to USA: Indian-American Neal Mohan’s journey to becoming YouTube CEO</a>

New age technology companies back in the spotlight after Q3 performance

<ul><li><keyword id="7887330" type="General" weightage="20" keywordseo="reliance-retail-revenue" source="Orion">Reliance Retail revenue</keyword> ₹57,714 crore in the third quarter (Q3) of FY21.</li><li>This is ₹20,000 crore higher than the revenue it reported in the same quarter last year.</li><li><keyword id="58448" type="General" weightage="20" keywordseo="reliance-retail" source="Orion">Reliance Retail</keyword> spent over $1 billion on acquisitions and strategic partnerships between April to December 2021.</li></ul>Mukesh Ambani-led Reliance Retail — a subsidiary of oil-to-chemical conglomerate <keyword id="6355199" type="General" weightage="20" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword> (RIL) — has reported its highest ever revenue in the October to December quarter of financial year 2022. The company’s revenue crossed ₹57,714 crore in the third quarter (Q3) of FY21, which is nearly ₹20,000 crore higher than the revenue it reported in the same quarter last year. It has also surpassed Reliance Retail’s January-March quarter (FY20) revenue by ₹10,000 crore. Notably, Reliance Retail had previously cited January-March figures as its <a href="https://www.businessinsider.in/retail/news/reliance-retail-emerges-as-the-fastest-growing-segment-for-mukesh-ambani/articleshow/82331594.cms">highest ever quarterly revenue</a>. The company’s EBITDA (earning before interest, taxes, depreciation, and amortisation) was nearly 24% higher at ₹3,822 crore. <div type="image" title="Reliance Retail earns $1.3 billion more than its best ever quarter" msid="89044974" hostid="261"></div> Overall, the company has reported a revenue of ₹1,41,711 crore in the first three quarters of financial year 2022. It is already nearing FY2021 revenue figure of ₹1.57 lakh crore. “Retail business activity has normalised with strong growth in key consumption baskets on the back of festive season and as lockdowns eased across the country. Our digital services business has delivered broad based, sustainable, and profitable growth through improved customer engagement and subscriber mix,” Mukesh Ambani, chairperson and managing director of Reliance Industries, said. Reliance Retail has witnessed strong growth momentum in fashion and lifestyle business as well as groceries. Festive season, successful winter wear collection and higher footfall in stores contributed to this growth. <table style="border-width: initial; border-style: none;" 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;">Business </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;">Updates </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;">Reliance Retail </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;">Recorded highest ever revenue and EBITDA (earning before interest, taxes, depreciation, and amortisation) </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;">Digital and new commerce </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;">Ajio recorded the highest ever growth, Zivame reached a milestone of 100 stores, and Urban Ladder grew 2X over last year. </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;">Consumer Electronics </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;">Consumer Electronics stores posted double-digit growth with improvement across all operating parameters. </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;">Fashion &amp; Lifestyle </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;">Highest ever quarterly revenue with 2X growth over last year. </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Reliance Retail in its recent financial statement also mentioned that it has invested over ₹7,600 crore (over $1 billion) in acquisition and strategic partnership between April to December 2021. In the last quarter, the company had made three acquisitions, which included grocery chain Jaisuryas and women’s intimate wear brand Amante. The retail giant also invested $200 million in Google-backed quick commerce platform Dunzo to further enhance JioMart. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/business/corporates/news/fortune-oil-maker-adani-wilmar-to-open-its-3600-crore-ipo-on-january-27/articleshow/89033308.cms">Fortune oil maker Adani Wilmar to open its ₹3,600 crore IPO on January 27</a> <a href="https://www.businessinsider.in/retail/news/hul-increased-price-of-wheel-detergent-rim-bar-lux-surf-excel-many-times-in-last-three-months/articleshow/89037315.cms">You have been paying more for detergents, soaps over the last three months</a> <a href="https://www.businessinsider.in/investment/news/twitters-long-awaited-hexagonal-profile-pictures-that-give-bragging-rights-to-nft-holders-is-here-but-not-everyone-loves-it/articleshow/89042268.cms">Twitter’s long-awaited hexagonal profile pictures that give bragging rights to NFT HOLDers is here — but not everyone loves it</a>

Reliance Retail earns $1.3 billion more than its best-ever quarter

<ul><li><keyword id="10229031" type="General" weightage="20" keywordseo="indiagold" source="Orion">Indiagold</keyword> claims to offer gold-backed loans, gold savings and gold locker services to over a million users in India.</li><li>PayU is also an investor in state-run NPCI and payments platform Dot.Pe and more.</li><li>Indiagold will use the $12 million funding to scale its business and roll out operations nationally.</li></ul>Indiagold, a fintech startup that offers gold loans, has raised $12 million funding to scale its business and roll out operations nationally. The Series A round was led by financial services platform PayU and Alpha Wave Incubation (AWI), which is a fund managed by Falcon Edge Capital. Better Tomorrow Ventures, 3one4 Capital, Rainmatter Capital and existing investor Leo Capital also participated in the round. “Empowering disruptive fintech entrepreneurs through early-stage investments is a key element of PayU’s growth strategy. By supporting businesses that complement our existing portfolio, we aim to achieve our vision of developing a fintech ecosystem that will meet the financial services needs of millions of Indians,” said Vijay Agicha, global head of strategy and growth at PayU. PayU is also an investor in state-run National Payments Corporation of India (<a href="https://timesofindia.indiatimes.com/business/india-business/npci-sells-4-6-to-19-fintech-payment-cos/articleshow/79436732.cms">NPCI</a>) payments platform <a href="https://www.businessinsider.in/business/news/google-payu-and-info-edge-ventures-invest-200-crore-in-online-to-offline-commerce-platform-dotpe/articleshow/81704999.cms">DotPe</a>. It also acquired loan company<a href="https://www.businessinsider.com/payu-enhances-lending-venture-with-paysense-acquisition-2020-1"> PaySense</a> last year. Launched in 2020 by Nitin Misra and Deepak Abbot, Indiagold offers gold-backed loans, gold savings and gold locker services. The company aims to digitise lending against gold in India. The company claims to be building a “doorstep” <keyword id="130134" type="General" weightage="20" keywordseo="gold-loan" source="Orion">gold loan</keyword> business that is powered by a technology stack, artificial intelligence (AI)-based gold assessment capabilities and faster gold release as well as a transparent repayment policy. Co-founders Misra and Abbot, in a joint statement, highlighted that India offers a larger $650 billion addressable gold loan market, but it is highly fragmented and currently dominated by the informal segment. The company further claimed that 70% of gold loans demand in India are currently catered by the informal sector. Misra and Abbot have previously worked at digital payments giant Paytm. Misra has also been associated with GE Capital, NIIT, Airtel and Samsung. Abbot has worked with CyberMedia, Times Internet, Satyam Computers, Zapak Digital Entertainment and Get Smart App. SEE ALSO <a href="https://www.businessinsider.in/science/health/news/mukesh-ambanis-reliance-life-sciences-gets-approval-to-conduct-trials-for-its-covid-19-vaccine/articleshow/85677741.cms">Mukesh Ambani-owned Reliance Life Sciences' COVID-19 vaccine — here's all we know so far</a> <a href="https://www.businessinsider.in/stock-market/news/infosys-wipro-adani-green-and-other-top-stocks-to-watch-out-for-on-august-27/slidelist/85676193.cms">Infosys, Wipro, Adani Green and other top stocks to watch out for on August 27</a> <a href="https://www.businessinsider.in/business/startups/news/google-backed-dunzo-earned-nearly-600-crore-from-8-cities-in-fy21-ceo-says-theyll-start-expanding-now/articleshow/85656919.cms">Google-backed Dunzo earned nearly ₹600 crore from 8 cities in FY21, CEO says they'll start expanding now</a>

Digital gold loan company Indiagold raises $12 million from PayU and others

<ul class="summary-list summary-list-variant"><li>There was an <keyword id="52285" type="General" weightage="20" keywordseo="explosion" source="Orion">explosion</keyword> outside a gate at <keyword id="608024" type="General" weightage="20" keywordseo="Kabul-airport" source="Orion">Kabul airport</keyword> amid ongoing evacuations.</li><li>The Pentagon confirmed early reports on Thursday but declined to provide any details.</li><li>It is unclear how many people may have been injured or killed.</li></ul>There has been at least one explosion outside Hamid Karzai International Airport in Kabul, where efforts to evacuate people from <keyword id="6354541" type="General" weightage="20" keywordseo="Afghanistan" source="Orion">Afghanistan</keyword> are ongoing, the Pentagon said Thursday. "We can confirm an explosion outside Kabul airport," Pentagon press secretary John Kirby <a href="https://twitter.com/PentagonPresSec/status/1430888975917453313">said in a statement</a>. "Casualties are unclear at this time. We will provide additional details when we can." The explosion occurred outside Abbey Gate, where many people have crowd daily trying to get into the airport to get out of Afghanistan. <a href="https://www.cnn.com/webview/world/live-news/afghanistan-news-taliban-refugees-08-26-21-intl/h_9b945725b577ab5d934d7db9daa2d835">There are multiple reports that a number of Afghans were injured</a> <a href="https://twitter.com/idreesali114/status/1430896090283343874">as well as reports</a> that US service members were also hurt in the incident. "We can confirm that the explosion near the Abbey Gate of the Kabul airport has resulted in an unknown number of casualties," Kirby said. A <a href="https://twitter.com/JenGriffinFNC/status/1430889545105563648">US official told Fox News reporter Jennifer Griffin</a> that a suicide bomber launched a "complex" attack with an improvised explosive device and that there was a firefight. <a href="https://twitter.com/laraseligman/status/1430893019419480074">Politico reporter Lara Seligman, citing two sources, also said</a> the cause was a suicide bomber, and three US officials <a href="https://twitter.com/kylieatwood/status/1430894261604478996">told CNN reporters</a> that this "appears to be a suicide attack." <a href="https://twitter.com/haynesdeborah/status/1430894201059758091">Other</a> <a href="https://twitter.com/JackDetsch/status/1430890820140367872">reports</a> have said the same. Following news of the first explosion, there were reports of a second explosion. The Pentagon has not yet confirmed that a second explosion took place. Over the past few days, US officials has repeatedly expressed serious concerns about possible terrorist activity around the airport. In particular, there have been concerns about ISIS-K, an ISIS affiliate in Afghanistan. President Joe Biden <a href="https://www.whitehouse.gov/briefing-room/speeches-remarks/2021/08/24/remarks-by-president-biden-on-the-ongoing-evacuation-efforts-in-afghanistan-and-the-house-vote-on-the-build-back-better-agenda/">warned of this threat on Tuesday</a>, saying that "every day we're on the ground is another day we know that ISIS-K is seeking to target the airport and attack both US and allied forces and innocent civilians." <a href="https://af.usembassy.gov/security-alert-embassy-kabul-afghanistan-august-25-2021/">The US Embassy in Afghanistan sent out an alert</a> on Wednesday urging US citizens to avoid traveling to the airport due to "security threats" outside the gates. A senior US official <a href="https://www.nytimes.com/2021/08/25/world/asia/us-kabul-airport-threat.html">told The New York Times</a> the embassy security alert was issued in response to "specific" and "credible" threats posed by ISIS-K, a common enemy for both the US and the <keyword id="16945" type="General" weightage="20" keywordseo="taliban" source="Orion">Taliban</keyword>. It is not clear at this time if ISIS-K was involved in Thursday's incident, which is increasingly looking like an attack, though that has not been officially confirmed. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/google-backed-dunzo-earned-nearly-600-crore-from-8-cities-in-fy21-ceo-says-theyll-start-expanding-now/articleshow/85656919.cms">Google-backed Dunzo earned nearly ₹600 crore from 8 cities in FY21, CEO says they'll start expanding now</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/tata-motors-is-the-casualty-of-jlr-struggling-due-to-the-global-chip-shortage-and-a-lacklustre-ev-vision/articleshow/85652897.cms">Tata Motors is the casualty of JLR struggling due to the global chip shortage and a lacklustre EV vision</a>

There was an explosion outside Kabul airport amid ongoing evacuations from Afghanistan, Pentagon says

<ul><li>The development comes a week after <keyword id="58448" type="COMPANY" weightage="20" keywordseo="Reliance-Retail">Reliance Retail</keyword> acquired Just Dial. </li><li>Magicpin was founded in 2015 by Anshoo Sharma and Brij Bhushan. </li><li>It claims to be making $1 billion in annual sales for its clientele of 15 lakh merchants.</li></ul>Gurugram-based hyperlocal discovery platform Magicpin has appointed Zomato’s chief executive officer (CEO) and cofounder Deepinder Goyal as an independent director. Goyal will be joining the hyperlocal discovery platform’s existing board of directors and advisors Lightspeed Venture’s Bejul Somaia, BoAt Lifestyle’s Vivek Gambhir and Waterbridge’s Manish Kheterpal. Commenting on the same, Zomato’s Goyal said, “I am delighted to join the magicpin board. They are a high-quality team, and I am excited about how they are being a driver of growth for local merchants across categories. I am looking forward to contributing to the company's success.” Founded in 2015 by Anshoo Sharma and Brij Bhushan, Magicpin provides a discovery platform that allows merchants and consumers to interact and transact. The company helps drive businesses of local retailers across several categories, including restaurants, fashion, beauty, grocery and others. Magicpin has also launched a OrderHere platform that enables local merchants to set up their online stores and serve customers. The company simplifies catalog creation and management for local businesses. It also offers integrated payments and logistics from top logistics providers such as Shadofax, Dunzo, Rapidoa and Loadshare. It has over 1.5 lakh merchants on the platform, serving more than 50 lakh consumers across 50 cities. The company claims to be driving over $1 billion in annual revenue for its existing partners. It’s clientele includes <keyword id="11672142" type="UNKNOWN" weightage="20" keywordseo="pantaloons-lifestyle-westside">Pantaloons, Lifestyle, Westside</keyword>, <keyword id="131257" type="COMPANY" weightage="20" keywordseo="Taco-Bell">Taco Bell</keyword>, Amazon, <keyword id="10591" type="CITY" weightage="20" keywordseo="Samsung">Samsung</keyword>, KFC, CCD and others. Magicpin has raised close to $41.9 million to date from marquee investors like Google Launchpad Accelerator, <keyword id="11672141" type="UNKNOWN" weightage="20" keywordseo="samsung-venture-investments">Samsung Venture Investments</keyword> and others. The company competes with Just Dial, which was <a href="https://www.businessinsider.in/stock-market/news/mukesh-ambanis-reliance-retail-to-buy-majority-stake-in-justdial-vss-mani-to-continue-as-md-and-ceo/articleshow/84477000.cms">acquired by Reliance Retail</a> only last week. Just Dial has over 30.4 million listings, catering to consumer traffic of 129.1 million quarterly unique users (as on March 31, 2021). Goyal can be a value add to Magicpin’s board, given his experience of building and scaling Zomato. The food aggregator business’s issue was<a href="https://www.businessinsider.in/business/news/zomato-ipo-subscription-status/articleshow/84409991.cms"> oversubscribed by 38 times</a>, as it attracted bids for 2,751 crore compared to the issue size of 71.9 crore shares. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/used-car-platform-spinny-raises-108-million-to-fund-growth/articleshow/84545148.cms">Used car platform Spinny raises $108 million to fund growth and expand its presence across India</a> <a href="https://www.businessinsider.in/business/startups/news/from-zomatos-ipo-to-delhiverys-fundraise-to-paytms-drhp-these-were-the-biggest-developments-this-week/slidelist/84496707.cms">From Zomato’s IPO to Delhivery’s fundraise to Paytm’s DRHP — These were the biggest developments this week </a><a href="https://www.businessinsider.in/business/startups/news/100-million-investment-in-delhivery-will-help-fedex-gain-prominence-in-india/articleshow/84471579.cms">FedEx makes its first strategic investment in India, puts $100 million in Delhivery’s kitty</a>

Zomato co-founder Deepinder Goyal has joined Magicpin as an independent director

<ul><li><keyword id="6672294" type="General" weightage="20" keywordseo="reliance-life-sciences" source="Orion">Reliance Life Sciences</keyword> has reportedly approached India’s drug regulator, seeking permission for trials of its vaccine.</li><li>The subject expert committee (SEC) is said to have reviewed its application yesterday and gave its approval.</li><li>Phase-1 of the trial usually lasts for 58 days to determine the highest dose that most patients can tolerate.</li></ul>Indian pharma firm Reliance Life Sciences on Thursday, August 26, reportedly received regulatory approval to conduct clinical trials of its <keyword id="8904563" type="General" weightage="20" keywordseo="covid-19-vaccine" source="Orion">COVID-19 vaccine</keyword> candidate. The company — run by India’s richest man <keyword id="3820" type="General" weightage="20" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword> — has reportedly approached India’s drug regulator, seeking permission to start Phase-1 trials for its proposed two-dose vaccine, according to a <a href="https://economictimes.indiatimes.com/industry/healthcare/biotech/pharmaceuticals/reliance-life-gets-regulatory-nod-for-trials-of-2-dose-vax/articleshow/85669453.cms">report</a> by The Economic Times (ET), which quoted sources it did not name. The subject expert committee (SEC) is said to have reviewed its application on Thursday and has given its approval. Reliance Life Sciences aims to obtain reliable information on safety, tolerability, how it reacts with living organisms (pharmacokinetics or PK) and mechanism of action of the drug. The company aims to determine the maximum tolerated dose (MTD) with these trials. Business Insider has reached out to Reliance Life Sciences seeking more details about their vaccine and Phase-1 trials. A person aware of the development told the publication that Phase-1 of the trial usually lasts for 58 days to determine the highest dose that most patients can tolerate. The company will be able to conduct phase two or three of the vaccine only after phase one is completed, the person told ET. The vaccine by Reliance Life Sciences will be a recombinant protein vaccine, similar to the Corbevax vaccine developed by Hyderabad-based Biological E. Biological E is expected to <a href="https://www.hindustantimes.com/india-news/biological-e-s-covid-19-vaccine-likely-to-be-launched-in-september-report-101627294911918.html">apply</a> for an emergency use authorisation (EUA), which allows temporary use of a medicine under specific conditions. So far, six vaccines have received EUA in India. This includes Zydus Cadila’s vaccine, Serum Institute of India’s <keyword id="9617748" type="General" weightage="20" keywordseo="covishield" source="Orion">Covishield</keyword>, Bharat Biotech’s <keyword id="9485939" type="General" weightage="20" keywordseo="covaxin" source="Orion">Covaxin</keyword>, Russia’s Sputnik V, Moderna and Johnson &amp; Johnson. Drugs Controller General of India (DCGI) had approved <a href="https://www.businessinsider.in/science/health/news/cadila-healthcare-to-launch-zycov-d-vaccine-for-12-year-old-and-above/articleshow/85564761.cms">Cadila Healthcare’s ZyCoV-D </a>COVID-19 vaccine for emergency use, earlier this week. ZyCoV-D vaccine is also suitable for the younger population above 12 years of age. Adding to it, the vaccine is needle-free unlike other vaccines. The company plans to manufacture 10-12 crore doses of ZyCoV-D annually and is expected to be made available in September in India. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/infosys-wipro-adani-green-and-other-top-stocks-to-watch-out-for-on-august-27/slidelist/85676193.cms">Infosys, Wipro, Adani Green and other top stocks to watch out for on August 27</a> <a href="https://www.businessinsider.in/business/startups/news/google-backed-dunzo-earned-nearly-600-crore-from-8-cities-in-fy21-ceo-says-theyll-start-expanding-now/articleshow/85656919.cms">Google-backed Dunzo earned nearly ₹600 crore from 8 cities in FY21, CEO says they'll start expanding now</a> <a href="https://www.businessinsider.in/tech/enterprise/news/amazon-twitter-hyundai-and-dominos-are-buying-indian-software-fuelling-a-75-billion-dream-chased-by-top-vcs-like-sequoia-and-tiger-global/articleshow/85646116.cms">Amazon, Twitter, Hyundai, and Domino’s are buying Indian software fuelling a $75 billion dream chased by top VCs like Sequoia and Tiger Global</a>

Mukesh Ambani-owned Reliance Life Sciences' COVID-19 vaccine — here's all we know so far

<ul><li><keyword id="4241922" type="General" weightage="20" keywordseo="altbalaji" source="Orion">ALTBalaji</keyword>'s Cartel is a story of a first family business, that rules the divided factions of the underworld in the city of Mumbai.</li><li>The multi-starrer release has bagged 13 brands. </li></ul>ALTBalaji has associated with numerous youth-centric brands for its thriller entertainment series, Cartel. The popular brands appeal perfectly with the show's message, which is for the youth and matches the target audience's interests. With 80% of ALTBalaji's audience less than 35 years of age, the partnership with youth-centric platforms helps brands reach out to their target audience. The brands that have tied up for the association include Ferns and Petals as official gifting partners who have signed in for a co-branded digital association by giving a 20% discount to ALTBalaji subscribers on their next billing. Invisible Lounge kept the Cartel theme alive by celebrating the launch with a Gangsta-party. Ixigo is associated with us as a travel partner for most of our shows as the audience of such shows are mostly the Indian youths of the country who love to travel, thereby allowing them 20% discount coupons exclusively for ALTBalaji subscribers. Growfitter, the show's fitness partner, is giving a free one-month Growfitter Premium Subscription for the audience who have watched the first episode on the very first day and, three lucky winners will also be gratified with Google home minis. Youth snackable branded concept video and social media association slated with Dunzo. While Ugaoo has gifted plants as Nature partners, Mission Green Mumbai has associated as the NGO partners who will undertake exclusive tree plantation activity to save Aarey in Mumbai, an area ruled by the fictional Angre family from the show. Apart from these, brands like Reliance, Voyage, Flyrobe, Ugaoo, USTREAK have also been associated with the show as accessories, digital, Esports, nature, and wardrobe partners. ALTBalaji has also been associated with Josh, India’s fastest-growing and most engaged short-video app, and will see multiple collaborated activities, including actor videos, social media content, contests, giveaways, and much more. Josh also started the #CartelChallenge for their users to generate uber-cool videos with Cartel dialogues. Multiple engaging partnerships also include brands like Reliance and Flyrobe have exclusive Cartel collections for the fans to flaunt their favorite actors' mannerisms. For youth who love gaming apart from Binge-watching ALTBalaji, USTREAK would be hosting tournaments by Gamers and ESPORTS CHAMPIONSHIP with the actors of Cartel. Voyage is also giving away Cartel Sunglasses as gift hampers (for Men and Women). Bollywoo has created merchandise featuring show dialogues for fans to join the Cartel fever. Commenting on multiple brand partnerships, <keyword id="3381161" type="General" weightage="20" keywordseo="divya-dixit" source="Orion">Divya Dixit</keyword>, SVP -Revenue &amp; Marketing at ALTBalaji, says, "Cartel is a tentpole property for us with a stellar star cast and storyline. The team went all out to promote this show and reach the intended audience via successful partnerships. All of these brands have been chosen carefully and are helping us gain maximum momentum. The brand associations purely depend on the show's content and target audience and how both the brands can benefit from each other's audience base." ALTBalaji's content bouquet includes premium, disruptive content and original series across genres. With originality, courage, and relentlessness at its core, ALT stands out for being avant-garde, non-conformist, inclusive, effervescent, and has something for every individual. With a vast library of 87 originals across genres that cater to all kinds of audiences, the shows at ALTBalaji are a mix of thriller, crime, drama, romance, youth drama, horror, comedy, amongst others.

ALTBalaji's Cartel partners with 13 youth-centric brands to engage with its target audience

<ul><li>Here are the top <keyword id="2023017" type="ORGANIZATION" weightage="20" keywordseo="unicorns">unicorns</keyword> and <keyword id="8477154" type="UNKNOWN" weightage="20" keywordseo="soonicorns">soonicorns</keyword> that dominated the headlines in 2019, according to PR technology firm Wizikey.</li><li><keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword>, <keyword id="6354720" type="UNKNOWN" weightage="20" keywordseo="ola">Ola</keyword>, <keyword id="2808667" type="PERSON" weightage="20" keywordseo="OYO">Oyo</keyword>, <keyword id="6358977" type="UNKNOWN" weightage="20" keywordseo="swiggy">Swiggy</keyword> and <keyword id="830092" type="COMPANY" weightage="20" keywordseo="Zomato">Zomato</keyword> were unicorns that made the most news. </li><li>Soonicorns like Urbanclap, CRED, Dunzo, Bharatpe and Vedantu were also big newsmakers of the year.</li></ul>It’s been quite a 2019 for Indian <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword> – eight new startups have joined the unicorn club and 50 soonicorns are waiting in line. The startup sector has been buzzing with the global WeWork crisis to Oyo’s troubles – there is no dearth of news. Here are the top unicorns and soonicorns that have been in the news most in 2019, according to PR technology firm Wizikey. 
	<div type="Slideshow" msid="72953372" hostid="261" title="From Paytm to OYO, these Indian unicorns and soonicorns made the most news in 2019" firstImageMsid="72953373" slideCount="10"></div>



 SEE ALSO: <a href="https://www.businessinsider.in/business/news/ratan-tata-azim-premji-in-google-year-of-search-2019-as-trending-business-tycoons/articleshow/72483591.cms">EXCLUSIVE: India’s top trending business tycoons of 2019, according to Google⁠</a>

From Paytm to OYO, these Indian unicorns and soonicorns made the most news in 2019

<ul><li><keyword id="8506093" type="UNKNOWN" weightage="20" keywordseo="Jiomart">JioMart</keyword> launches as a grocery retail platform delivering in Navi Mumbai, Thane and Kalyan. </li><li><keyword id="10926" type="CITY" weightage="20" keywordseo="Reliance">Reliance</keyword> is also calling for pre-registrations which promises to save ₹3,000 at the time of launch. </li><li><keyword id="2003276" type="PERSON" weightage="20" keywordseo="Jio">Jio</keyword>’s entry is a threat to <keyword id="35621" type="PERSON" weightage="20" keywordseo="e-commerce">e-commerce</keyword> bigwigs, Amazon, Flipkart and also startups like BigBasket, Grofers, Swiggy, Dunzo. </li></ul>Reliance Industries has silently launched its much talked about e-commerce venture, JioMart. JioMart is a grocery retail platform that calls itself ‘desh ki nayi dukaan’. The website says that it is currently available in Navi Mumbai, Thane and Kalyan - suburbs of Mumbai. “Yes, we have soft-launched our operations. All Jio users are sent invites to register to avail of preliminary discounts. Though it is currently only in three regions, we would be scaling it up further. The JioMart app will be launched soon," an official told <a href="https://www.livemint.com/companies/news/ril-gears-up-to-take-on-amazon-flipkart-with-jiomart-launch-11577730323843.html">Mint</a>. Reliance is also calling for pre-registrations from users with savings of as much as ₹3,000. This step can help boost the valuation of the business which has 10,901 physical stores across the country. Reliance Industries said that it plans to spin off its retail venture, and the new digital avatar can boost its valuation. An <a href="https://www.businessinsider.in/business/corporates/news/mukesh-ambanis-reliance-retail-is-valued-at-2-4-lakh-crore/articleshow/72988278.cms">IANS report</a> pegs the value of Reliance Retail at ₹2.4 lakh crore as per a share swap scheme. It basically calculated the value of the business as RIL offered one share of the combined entity for every four shares of retail business. Also, <a href="https://www.businessinsider.in/business/news/ril-first-indian-firm-to-hit-rs-10-lakh-cr-m-cap-mark/articleshow/72276957.cms">RIL</a> stock touched ₹10 lakh crore this year, boosting the value of all its businesses. JioMart’s debut is a threat to several e-commerce players who have been scaling up their grocery retail operations like – Amazon, Flipkart to startups like BigBasket, Grofers, Swiggy, Dunzo. For over a year now, rumours of Reliance e-commerce debut had been doing the rounds. The company has also been buying into startups in the sector. Going by an offline-to-online model, in December Reliance acquired 85% stake in the Hyderabad-based startup Nowfloats for ₹141.63 crores. Nowfloats offers SaaS based solutions to SMEs, and enables their digital presence. In August 2019, Reliance acquired a majority stake in the Google-backed fashion e-commerce startup Fynd. In March 2019, Reliance had acquired Mumbai-based logistics platform Grab A Grub. Reliance Retail has made a much bigger promise to build its online business on the back of its 364.3 million Jio subscribers. See Also: <a href="https://www.businessinsider.in/business/corporates/news/mukesh-ambanis-reliance-retail-is-valued-at-2-4-lakh-crore/articleshow/72988278.cms">Mukesh Ambani's Reliance Retail is valued at ₹2.4 lakh crore</a> <a href="https://www.businessinsider.in/business/ecommerce/news/reliance-industries-latest-acquisition-takes-mukesh-ambani-closer-to-e-commerce-launch/articleshow/72504542.cms">Reliance Industries' latest acquisition takes Mukesh Ambani closer to e-commerce launch</a>

Reliance’s e-commerce venture JioMart makes a silent debut, calls for pre-registrations

New Delhi, Jan 28 () Bengaluru-based InterviewBit on Tuesday said it has raised USD 20 million (over Rs 142 crore) in funding led by Sequoia India and Tiger Global among others.
InterviewBit, a Surge 01 (a Sequoia program) start-up, offers an advanced online computer science program for college graduates and young professional software engineers called Scaler Academy.
"The company will use these funds to scale up their enrolment and launch in new markets, while also investing in their curriculum and their live teaching product to enhance the student-teacher experience," a statement said.
 InterviewBit co-founder Anshuman Singh said a lot of young engineers don't always have access and exposure to the relevant technical skills or recruitment processes of global companies. 
"Our mission is to bridge that gap and help them grow in their careers. We are very pleased to be able to help young engineers expand their knowledge and coding skills and enable them to get top tier software engineering jobs at the best global tech companies," he added.
Founded in 2015 by Abhimanyu Saxena and Anshuman Singh, InterviewBit is an online platform that teaches skills needed for technology jobs, mentors students to crack recruitment processes and provides referrals to opportunities in the software industry globally. 
It has more than a million registered software developers with over 3,00,000 monthly active users. Over 600 companies work with InterviewBit for their hiring requirements including Google, Uber, Amazon, Facebook, Flipkart, Myntra and Dunzo. SR RUJ
RUJ

InterviewBit raises USD 20 mn in funding from Sequoia India, Tiger Global

<ul><li><keyword id="1168691" type="PERSON" weightage="20" keywordseo="Indian-techies">Indian techies</keyword> across reputed organizations in Bengaluru, and even across borders in Vancouver, Canada got together to build <keyword id="9001694" type="PERSON" weightage="20" keywordseo="covidmaps">CovidMaps</keyword>.</li><li>CovidMaps is a crowdsourced platform with information regarding the stores near you, list of things available, operational timings and more. </li><li>A group of over 20 techies are working on the project as a not for profit initiative. </li></ul>Ever since the <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">coronavirus</keyword> lockdown, you are suddenly aware of the neighbourhood grocery stores, their products and shortcuts to get there. But many times you’re left disappointed as they have run out of items you need the most. Across metropolitan cities, grocery stores bare an empty look with panic buying and patchy supply from wholesalers. So, you end up moving from one store to another in the search of milk, bread and more. But a group of techies decided that this isn’t a problem they can’t solve. Indian techies across reputed organizations in Bengaluru, and even across borders in Vancouver, Canada got together to build CovidMaps – a crowdsourced platform with information regarding the stores near you, list of things available, operational timings and more. <div type="image" title="Bangalore Stores." msid="75170412" hostid="261"></div> And all of this information is almost instantly updated by users themselves. A group of over 20 techies are working on the project as a not-for-profit initiative. “Given the whole lockdown situation, the supply chain of these stores have been impacted. Stores are now operating with limited capacity or they are out of stock. There’s unpredictability in terms of how to get your essentials. As a user, people are also looking for safety markers – masks are compulsory in the store, and so is maintaining distance,” said Sandeep Rao, one of the tech architects behind CovidMaps, who works out of Vancouver. CovidMaps is currently live in Mumbai, Bengaluru, Pune, Chennai, Hyderabad and Delhi, as well as Vancouver. They already partnered with a popular delivery app Dunzo. Its users can check what’s available in a store through CovidMaps and place an order. <div type="image" title="IMG-20200414-WA0032" msid="75170409" hostid="261"></div> The group started working on it as soon as the lockdown was announced, and it went live recently. “In two weeks, we have over 50,000 users with over 5000-6000 users visiting the webpage every day,” said Rao. They also received organic attention on social media. Cricket commentator Harsha Bhogle, comedian Atul Khatri and more tweeted about CovidMaps. Given the interest around grocery and the need for essential supplies, many established companies too started listing stores on their platforms. Google has also started listing grocery stores. Digital payments platform PhonePe too launched a ‘Stores’ feature, which will show you a listing of stores nearby and if they are delivering. See Also: <a href="https://www.businessinsider.in/india/news/heres-how-you-can-kill-coronavirus-developers-in-india-get-busy-with-new-games/articleshow/75135181.cms">Here's how you can kill coronavirus – developers in India get busy with new games</a> <a href="https://www.businessinsider.in/stock-market/news/sbi-cards-share-price-down-by-a-third-since-ipo/articleshow/75126409.cms">₹10,000 invested in SBI Cards during IPO is worth about ₹6,700 now⁠— here’s why</a>

A group of 20 Indian techies built a crowdsourced platform for groceries within a week

<ul><li><keyword id="54572" type="CITY" weightage="20" keywordseo="PepsiCo">PepsiCo</keyword> India said within 30 years of our establishment in India, PepsiCo India has grown exponentially to emerge as one of the largest Food and Beverage company in the country.</li><li>On account of such a tremendous growth, PepsiCo India has committed to invest over $2.1 billion in the country over a five-year period ending in 2022. </li><li>"While there have been some short-term head winds due to Covid, we at PepsiCo are extremely optimistic about the future and are committed to provide consumers the right portfolio of products across food and <keyword id="23943" type="PERSON" weightage="20" keywordseo="beverages">beverages</keyword>," they said.</li></ul> In an interview with IANS, Vishal Kaul, Vice President &amp; Business Head, Beverages, PepsiCo India and Dilen Gandhi, Senior Director and Category Head of Foods, PepsiCo India said within 30 years of our establishment in India, PepsiCo India has grown exponentially to emerge as one of the largest Food and Beverage company in the country. On account of such a tremendous growth, PepsiCo India has committed to invest over $2.1 billion in the country over a five-year period ending in 2022. "'As people adjust to the enew normal', in-home consumption is witnessing a significant uptake. We are witnessing a jump in both penetration and frequency of our food and beverage categories. There is a growing demand for our larger packs as in-home occasions of togetherness have increased manifold. While the consumers are looking at in-home experiences and seeking convenience, they are also looking at value," they said. "While there have been some short-term head winds due to Covid, we at PepsiCo are extremely optimistic about the future and are committed to provide consumers the right portfolio of products across food and beverages," they said. "Even in the COVID environment, our categories are seeing robust demand and growth across most channels," they added. Q: How is PepsiCo India responding with its business models to the Covid-19 situation? A: The COVID-19 has led to a complete paradigm shift as everything around us has changed- consumer behavior, retail landscape, competitive environment. Very early on, we realized there was no playbook to tackle the COVID challenge and the situation would continue to change. So, we had to arm ourselves with taking quick decisions while not having all the relevant information. To help us navigate the crisis, we established 6 guiding principles: Being People Centric, Being Consumer Centric, Being Customer Centric, Being Community Stewards, Being Agile and Being Prudent. These were the lens through which we saw every decision and we empowered our teams for agile decision making. At a time when stepping out for even essentials was fraught with risks, making our product conveniently available for our retailers and consumers was a key focus area. Hyper-local delivery emerged as a solution and we invested in emergent channels like Ecommerce for both B2C and B2B. We partnered with Amazon, Big Basket, Grofers, Swiggy and Dunzo to ensure uninterrupted availability of our food and beverage products to consumers across locations with safe delivery-on demand for all our consumers. For B2B, we further strengthened our existing Distributor model with the EB2B model, where we partnered with Udaan and Big Basket to help small and medium businesses. This partnership ensured our product portfolio was easily made available to retailers, so that they can cater to demand in the market. Q: How does PepsiCo view the big jump in consumption of snacks and beverages at home? A: PepsiCo India has always kept a pulse on consumer trends and continued to develop its portfolio in line with what consumers want. As people adjust to the enew normal', in-home consumption is witnessing a significant uptake. We are witnessing a jump in both penetration and frequency of our food and beverage categories. There is a growing demand for our larger packs as in-home occasions of togetherness have increased manifold. While the consumers are looking at in home experiences and seeking convenience, they are also looking at value. In order to serve the consumer better and rapidly adapt to their changing requirements we have introduced a 1.25-liter PET pack in our beverage portfolio at a very affordable price of Rs 50 which will enable the stay-at- home times even more special for our consumers. We have also introduced various combo packs for our food portfolio creating and further driving in-home consumption.Q: What are the investment plans for PepsiCo in India? A: Within 30 years of our establishment in India, PepsiCo India has grown exponentially to emerge as the largest Food and Beverage company in the country. On account of such a tremendous growth, PepsiCo India has committed to invest over $2.1 billion in the country over a five-year period ending in 2022. This commitment is a part of our previously disclosed commitment to invest $5.5 billion in India and includes our plan to double our manufacturing capabilities locally in the next five years, to cater to the ever-increasing demand of our products among the consumers. In recent years, we have announced an investment of Rs 514 Crores in a new foods facility in Uttar Pradesh which will provide 1,500 direct/indirect jobs. We have also invested in increasing capacity at our existing foods plants in West Bengal and Maharashtra and have additionally proposed to set up a greenfield project in Assam. Q: What is the production capacity for the PepsiCo products, and has it reached pre-Covid levels? A: We have resumed operations/ manufacturing across foods and beverages in the best manner possible, ensuring that all guidelines regarding safety of our employees are strictly adhered to. In the current environment and limited workforce across shifts, we are trying to ensure that we can meet the demand and operate at an optimal level to cater to our consumers with their favorite snacks and beverages. Nonetheless, we remain committed towards our employees and our consumers and see an uptake in both supply and demand in both categories. Q: What has been the response to the Covid situation? A: As brands look at engaging with consumers, the first and foremost part is that the current situation requires brands to provide consumers with a seamless and safe buying experience. That apart, this is also a unique opportunity to build an even more authentic relationship with the consumers by listening to them and providing the functional and emotional comfort. While there have been new ways of ensuring consumers had 24X7 accessibility of our products in a safe and hygienic manner, Brands across the PepsiCo India portfolio have also initiated interesting campaigns rooted into insights that we mined through the real time social listening we do at PepsiCo For consumers, safety comes first, and they are now refraining from going to crowded places and prefer low exposure. Hence, we partnered with SWIGGY and Dunzo to provide our products across food and beverages at their doorsteps, 24X7. We also saw that with low touch format being the new trend, there was a need to work with our partners to find low or no touch solutions for dispensing water. After extensive research and trials, we were able to finalize the Aquafina Low touch dispenser model as a product that we could roll out now given it meets key criteria including safety of consumer,practicality as well as economies of scale. We also evolved in the way we communicated to our consumers with messaging that were more relevant in current times. For example, <keyword id="44672" type="CITY" weightage="20" keywordseo="Pepsi">Pepsi</keyword> identified that while social distancing was the new normal, however a lot of consumers were either not aware of it or were not following it fully. Salaam and Namaste, which were deeply rooted into Indian culture are actually the best forms of contactless greetings, which was the need of the hour during the COVID times. In an endeavor to make these contactless Indian greetings a part of pop culture, Pepsi introduced a digital forward campaign that aimed at inspiring the world that greeting each other with salaam/namaste is a perfect way to ensure social distancing and yet maintain connections responsibly. It encouraged behavioral change through adherence to social distancing norms in an entertaining manner. The campaign broke all past records in India and made a meaningful impact to the consumers' lives. On the other hand, LAY'S, started a special initiative for the many unsung heroes of India - farmers, truck drivers, retailers, etc. e who continue to bring joy to millions even in these challenging times. The brand partnered with Smile Foundation to provide hygiene kits to over 40,000 families of such unsung heroes. These hygiene kits contain masks and sanitizers, to support these champions as they continue to work hard even in these unprecedented times. As part of the initiative LAY'S has also collaborated with leading Indian brands like Airtel, ICICI Bank, Parachute, Dunzo, Big Basket, JK Type, Vistara, Grofers and together have thanked millions of these unsung heroes. We also had other brands from our portfolio like Mountain Dew, Quaker, Tropicana etc do similar contextual campaigns and the response from the consumers has been overwhelming.Q: What have been the sustainability initiatives of PepsiCo? A: In its role as a responsible social citizen, PepsiCo India has taken several initiatives to contribute to the nation's ongoing efforts to combat the COVID-19 outbreak. As part of its #GiveMealsGiveHope global programme, PepsiCo India provided over 10 million meals to the underprivileged and marginalized families impacted by the COVID-19 outbreak across India. The meals were distributed in partnership with Akshaya Patra Foundation, Smile Foundation &amp; CII Foundation, across the country. The company also extended support to the healthcare and diagnostic facilities by providing over 35,000 COVID-19 testing kits to government labs, supplementing their efforts to combat the pandemic. Furthermore, the COVID 19 crisis has impacted the restaurants and the workers significantly. It is forecasted that 4 out of 10 restaurants would shut down. Pepsi initiated a campaign #PepsiSaveOurResturants, an inclusive program where every time you order food and add a beverage to your order and it can be any beverage -- Pepsi or any other beverage, Pepsi will give that many meals to the restaurant workers who have served us. Pepsi partnered with NRAI and Swiggy to bring this campaign to life. The campaign has got great response as it has provided many consumers an avenue to support the restaurant workers who have always served them. Q: What are the changing consumer patterns expected due to Covid? A: The COVID-19 challenge is making both consumers and brands face a new reality. Consumer behavior and pattern is emerging and evolving at a fast pace. Some of the key insights that are emerging are as follows: #Mobile is the new TV: Consumers, customers, employees and our ecosystem partners have leap frogged towards leveraging digital solutions and the mobile is at the epicenter of all this. Be it work from home, communication to consumers, taking orders from customers or Ecom, consumers are practically dependent on their mobiles. They are consuming content online, buying online and even engaging with extended family and finds online. Therefore, it's important to jump shift this capability and work with the ecosystem partners to strengthen this muscle. #Value in Table Stakes: While value has always been important for consumers, going forward it would become even more crucial. The brands/companies who can re-engineer their business models to deliver this via an advantaged model, would succeed in the long term. #Hope Trust and Fun: We believe consumers would be looking at 3 emotional benefits and brands that can provide the same authentically, would be the ones that consumers would choose - The first is Hope. Hope is tied very closely to empathy. Brands need to be empathic and craft messages which are reassuring and relatable to consumers in these unprecedented times. - The second is Trust. Now more than ever, consumers need to see brands walk the talk in everything they do e whether it is the core product promise or leading a cause to support communities. -The third is Fun. Today, consumers are working twice as hard, donning multiple hats and with sources of entertainment and recreation limited, a brand that can that can present an opportunity for consumers to express themselves in a fun manner will be able to build deeper connects with the consumers The situation would continue to evolve and it is important we continuously have our ear to the ground and we keep sharpening the strategy basis consumer needs. Q: What are the initiatives to bolster the retail network by PepsiCo? A: The pandemic has given rise to a enew-normal' world and we at PepsiCo India have maintained a close look out on the evolving consumer behavior pattern to be better prepared for the future. We take cognizance of the fact that we need to cater to different audiences, be it consumers, partners, distributors through different channels. For the consumers, demand for online deliveries has soared since the start of the stay-at-home order. Thereby, it was almost imperative for businesses to enhance their Direct to Customer (D2C) channels like Swiggy, Dunzo to ensure we have exclusive e-stores and a mechanism to cater to our consumers at their doorstep 24/7. By tapping the 'Daily Grocery' on Dunzo's app, customers can visit the LAY'S E-store and get these products delivered within an hour of ordering. The initiative has currently been launched as a pilot in <keyword id="6354321" type="LOCATION" weightage="20" keywordseo="Bengaluru">Bengaluru</keyword> and will eventually expand to 4 more cities across Mumbai, Gurugram, Delhi, and Jaipur. For the beverage category, we have tied up with Swiggy stores where we ensure availability of our products to the consumer on demand and delivery within 2 hours. On the other hand, Aquafina has tied up with a micro delivery platform OwO is for expanding reach into "At -home" consumption of packaged water. From a consumer perspective, our research has shown that consumers prefer dealing with apps such as OwO as they find it convenient. For the retailers and wholesalers, an interesting emerging channel is the EB2B model, under which PepsiCo India has entered into deep partnership with Udaan and Big Basket to help small and medium businesses. They should always have access to our product portfolio to ensure that they always meet demand. On the other hand, we remain committed to the distributors and ensure that we grow them and grow with them. Q: How does PepsiCo view the recent agriculture reforms including the flexibility to farmers to sell their products? A: Let's talk briefly about our collaborative programme and how that is focused on working closely with the farmers and based on years of trust and relationship. At PepsiCo India, we are guided by eWinning with Purpose' - our fundamental belief that the success of the company is inextricably linked to the sustainability of the world around. Agriculture is at the heart of PepsiCo India, and the companies relationship with farmers in India goes back 30 years. PepsiCo was the first company to introduce own researched processed grade varieties in India in late 90's. At present, PepsiCo is largest processed grade potato buyer in India. To fulfill its chip grade potato demand locally, PepsiCo developed largest collaborative farming for potato in India spread across 13 states working involving over 24,000 farmers. The potatoes are then processed in 3 manufacturing plants which employ close to 2,000 direct and indirect employees. The retention rate of farmers being part of the collaborative farming program is as high as 98 per cent. All the potato used in Lay's and Uncle Chipps is sourced from farmers in India e in fact, PepsiCo is the largest buyer of chip grade potato in the country today. Q: What are your views on the outlook for consumer sentiment? Is it an essential versus discretionary choice? A: India consumption story has just started and according to industry reports, India will be the 3rd largest consumption market by 2025. While there have been some short-term head winds due to Covid, we at PepsiCo are extremely optimistic about the future and are committed to provide consumers the right portfolio of products across food and beverages. Even in the COVID environment, our categories are seeing robust demand and growth across most channels. Our robust and balanced portfolio across "Fun for You" products like Pepsi, Lays Dew, Kurkure or "Better For You" products like Lipton, Pepsi Black or "Good For You" products like Quaker, Tropicana and Gatorade are getting greater acceptance from consumers. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/after-google-pwc-india-declares-a-company-wide-holiday-for-its-employees-this-friday-offers-time-off-for-a-well-deserved-break/articleshow/77125627.cms">After Google, PwC India declares a company-wide holiday for its employees this Friday – offers time off for a 'well-deserved' break</a> <a href="https://www.businessinsider.in/thelife/personalities/news/mukesh-ambani-is-now-the-fifth-richest-person-in-the-world-according-to-forbes/articleshow/77105843.cms">Mukesh Ambani is now the fifth richest person in the world, according to Forbes</a> <a href="https://www.businessinsider.in/business/corporates/news/tcs-infosys-hcl-tech-dont-want-h1b-ban-but-are-pocketing-savings-while-it-lasts/articleshow/77120776.cms">The H1-B visa ban is not what Indian IT firms want⁠— but they are pocketing some savings while it last</a>

PepsiCo India has grown exponentially to emerge as one of the largest F&B companies in India

<ul><li>The outbreak of coronavirus has affected our daily routines. To ease our loneliness and boredom, we have turned to our furry companions who emerged as the brightest ray of light in our lives in the past two years.</li><li>As a result, India has seen an increase in pet adoption in the pandemic, with demand for dogs, cats, and other furry friends.</li><li>We speak to leading pet care brands in India to find out how this surge in adoption has translated into increased demand for pet food and care after the pandemic, how brands are increasing their marketing spends to leverage this demand, and a few trends that we can expect to see in the category as we move forward.</li></ul>Working from home has taken a toll on our mental health. Mounting uncertainty, work pressure and the physical stress of sitting in one position for hours has led to changes in our lifestyle and sleep patterns, which has added to the stress. However, for a fortunate few, our four-legged companions have been a bright, silver shining ray of light in our lives. Pets have provided a great source of comfort during these testing times and have rescued us from the uncertainty looming around. They have also helped foster a deeper connection between family members, pushed us to go out on a walk for some fresh air, put a smile on our faces by interrupting Zoom calls, and prepare for the big fight against COVID. As a result, India has seen an increase in pet adoption in the pandemic, with demand for dogs, cats and other furry friends as citizens looked for simple ways to ease loneliness and boredom. As per latest data shared by <a href="https://www.petex.in/petcaremarketinindia.htmlhttps://www.petex.in/petcaremarketinindia.html">Petex</a>, India is the fastest-growing pet care market in the world. After seeing a push due to the pandemic, it is expected to grow at 14% annually to become a $490 million (₹33000 million) market by 2022 and Pet food market alone is projected to cross $310 million (₹20000 million) by 2022. MARS Petcare currently generates $40 billion in annual sales globally and houses the biggest pet food and care brands like Whiskas, Pedigree, Royal Canin, Pet Partners, to mention a few, and has witnessed an upsurge in new customers after March 2020. In a Euromonitor research report from 2019, it was reported that MARS Petcare maintains its leadership through brand Pedigree in India. Telling us how the market has changed lately, Ganesh Ramani, Managing Director, <keyword id="12204844" type="General" weightage="20" keywordseo="mars-petcare-india" source="Orion">MARS Petcare India</keyword> said, “During the pandemic, the brand saw an upsurge in pet parents entering the category. The demand for pet products towards the end of the year was much more than what the normal used to be during pre-COVID. The fact that pet parents have spent a lot more time with their pets during the lockdown and work from home phases, it led to parents indulging into a lot of products. Additionally, a lot more people, especially those who live alone, have adopted pets over the last few months. The brand has also encouraged the adoption of pets via various campaigns and activities under the Pedigree and Whiskas brands.” Petcare brand Supertails, which caters to all pet care needs, saw an increase in demand for vet consultations. It is doing more than 2000 consultations every month. Varun Sadana, Co-founder of Supertails, shared, “During the pandemic, people faced anxiety, depression, mental health issues and that was the period when pets played a crucial role in their life to get over the struggle. The pet adoption rate is above 10% with the GenZ contributing to the new pet parents population. At an overall level, the market has increased more than 20% CAGR in the last 2 years of the pandemic. Some brands like Purina have talked about 80%+ growth in the last year itself. Also, considering a large set of new pet parents are GenZ, there is a want of so much information and curiosity of being updated in pet parents. This is the first generation which is looking at pet parenthood rather than pet ownership. We expect the dog adoption rate to increase upwards of 15%.” Heads Up For Tails has witnessed a surge in demand for pet food and pet care products like grooming products, toys, walk accessories. Egro, it has been focusing on casting a wider net to attract more consumers. Rashi Sanon, Founder, Heads Up For Tails said, “We do have several new products planned to cater to customer demand. That being said, we also hope to expand our customer reach through new stores. Currently, we have 41 stores across the country, we have 8 more in the pipeline so we can connect with more pets and their families. Additionally, we’re focusing on building relevant content and an engaged community of pet people. We’re also keen on continuing product innovation alongside online growth and retail expansion.” To leverage this demand, pet care brands are leaving no stone unturned to reach out to pet parents through engaging content. They have increased their focus on e-commerce channels to expand their digital ‘paw-print’ and are spending more on digital media and TV to connect with paw-some parents. According to exclusive data shared by TAM AdEx with Ad and Media Insider, the animal feed category, which includes all kinds of animal food, saw an uptick in TV and digital spends. During July to September 2021, TV dominated the animal feed category in terms of ad insertions followed by digital and print. <div type="image" title="tam - animal care" msid="86617236" hostid="261"></div> TAM’s report further revealed that Pet Essentials, Mars International India and Hills Pet Nutrition were among the top three advertisers on digital media during April to June quarter of 2020 and 2021. Mars International also had a 29% share in print ads and 10% on TV from the overall animal feed sector in 2021. <div type="image" title="mars - ad share" msid="86617254" hostid="261"></div> Trends in Pet Care Category Pet care brands told us that pet parents are now asking and Googling for the right food and nutrition and parenting techniques and doing a lot for their pet’s overall wellness. “Pet parents are being more mindful of the kind of products they’re using for their pets. They’re asking more questions and learning more about the specific products and lifestyles their pets need. They’re certainly opting for products with more organic ingredients, products that are being made sustainably and so on,” said Sanon. Wiggles.in's Founder and CEO, Anushka Iyer, told us that pet parents are also looking for plant-based options now. "Wiggles.in predicts an upward surge in CBD-based products such as Pain Relief Therapy Oils and CBD infused treats to tackle pain management in senior pets since the global CBD pet products market is anticipated to witness a CAGR of 41.3% during the forecast period from 2021 to 2026. Immunity-boosting probiotic, gut-healthy strips that dissolve in the pet’s mouth are trending and disrupting the traditional pill-administering format, confirm veterinarians. Pet grooming products that include probiotics are evolving into an upcoming segment. Since 20% of the population is vegetarian in India, pet parents are insisting on vegan or plant-based pet food for their pets. Mental health in pets is gaining prominence, hence anxiety training in pets especially curated for anxious pets is leading. Pet insurance and cashless hospitalization, when it comes to injuries or accidents in pets, is a new category that prominent finance houses are delving into," said Iyer. As per Ramani, a lot of metro pet parents have moved to their native cities taking their pet along or adopting a pet in their hometown, which contributes to the rest of urban and smaller towns growing faster. This has pushed pet care brands to focus more on strengthening their presence across the country through e-commerce channels. “As a part of the changing buying behaviors observed during the pandemic, the brand also started distributing their products through grocery marketplaces like Amazon, Dunzo, Big Basket and Petshop online portals. While e-commerce continues to be a critical channel for the brand to bridge the distribution gap, Whiskas is also slowly expanding to new cities and markets across the country,” said he. Listing a few other trends that he is expecting to see in the pet care category in near future, Ramani added, “1. Increase in ownership of cats, adoption of street cats &amp; purchase of breed cats, 2. Increase in spends on MPF and additional discretionary spends on treats, 3. Significant increase in cat-friendly spaces, spa’s and other grooming products, and 4. Increase in activists supporting stray cats in terms of feeding, vaccinations, care, etc. Pet care brands also changed their marketing strategy to connect with consumers. Some people have reservations about adopting cats due to negative associations or superstitions, especially when it comes to caring and nurturing felines. Whiskas’ launched a new campaign that aimed at educating cat parents to reinforce how cats are cute and curious, not with any of the vile, stereotypical and unfavorable qualities associated with them. Supertails, on the other hand, is now preparing for a campaign for world rabies day, considering India is the largest country affected by rabies. As these newly-adopted pet babies during the pandemic grow bigger, their food requirements will also increase. Experts are, therefore, hoping to see a prolonged demand for pet adoption, food, care and nutrition and are looking at using the right marketing tools to further encourage pet adoption and the right amount of care.

As more people adopt furry companions in India, pet care brands are upping their marketing game and expanding their e-commerce presence to connect with consumers

<ul><li><keyword id="9025059" type="UNKNOWN" weightage="20" keywordseo="abhik-choudhury">Abhik Choudhury</keyword>, Chief strategist &amp; founder, Salt and Paper Consulting writes how brands colors are now both category and audience agnostic. </li><li>He further shares a few reasons behind this paradigm shift. </li></ul> What do Volkswagen, Volvo, Tata, Ford and GM have in common? They all are reliable family cars with blue logos. How about KFC, McDonalds, Wendy’s, Pizza Hut and Burger King? They all are global fast food chains with either or both, red and yellow in their identities. And till about a decade ago, it was all fine and dandy till digital content clutter multiplied our brand exposure to a whopping 5000+ on an average day. And that meant the compelling need for acute differentiation over everything else. Let’s look at the topical industry of the year - EdTech. The whole industry came into being post digital burst. And in their identities, whilst catering to the same audiences their approach to <keyword id="9709248" type="UNKNOWN" weightage="20" keywordseo="brand-colors">brand colors</keyword> couldn’t have been more drastically contrasting. Byju, India’s second most valuable startup at $10Bn adorns a bright purple, something which experts used to put in the segment of richness and royalty. Udemy with its coral shade usually seen in lifestyle brands has intentionally moved away from its launch color of grass green. Coursera on the other end of the spectrum is safely engulfed in the reliable blue (think sweet spot between the old and new Facebook color). And finally look at Khan Academy, a blend of sea green and ocean blue. I would argue brands colors are now both category and audience agnostic. And there are four reasons for this major paradigm shift. The Differentiation Paradox: Of course the trained mind might argue the above example is just an anomaly so let’s go back to the automobile category we opened our discussion with to see this point through. In the last decade, the new electric car segment is slowly overpowering old heavyweights. What’s interesting though is as much as these shiny, new kids stand for the same brand promise of blending sleek style, sustainability and automation, their colors try to intentionally stay as apart as possible. Leading the pack Tesla shines in its signature passion red, Faraday Future graces the color of powerplay jet black, Fisker has famously named its brand colors California sunset (orange) and Pacific ocean (blue), the Chinese born Byton decks a more luxurious grey and the adventure friendly Rivian chose orangish yellow. Superdry’s orange boasts of its fun and bold collection, Zara’s black promotes the high street range inspired by luxury fashion weeks. And why not, as the concept of brand colors needed to be synonymous with the “brand experience”. Now though, the audience is aware enough to know that just because Grab taxis are green, they don’t only move with an oil free, electric fleet. Honestly, as long as the story behind your choice of brand color is believable you can paint the canvas with whatever you wish for. Breaking the traditional need for popping colors, Unilever’s new age Talenti Gelato comes in a pure transparent identity to just focus on the product and cut the clutter in the ice cream shelf simultaneously. Ola, India’s answer to Uber uses an exclusive pear color something eponymous with sporty, not exactly a massy cab service using Wagon R &amp; Swift Dzire cars. But does it work? Quite brilliantly actually, the point of differentiation is well made and well reaped. The Niche Maze Before the digital era, market penetration used to be mostly about what the masses demanded. And honestly rightfully so, for neither there was internet to measure the size of niche interests nor a way to get them delivered online to spurt segments scattered all over. And what it has resulted in is making colors more unisex, boldly unique and universally acceptable. Lyft’s Magenta and Dunzo’s Mint Green paves way for many more to come in the coming decade. Let’s try to understand the repercussions of not having niche colors. In the Indian media ecosystem look at the known brands Zee News, NDTV, ABP News, Republic, Aaj Tak, BBC Hindi, The Wire and Firspost ALL have red in their logos. Let’s forget for a second if all these brands have similar personalities, experience or values of the color red. Let’s rather say in 2021 you want to start a media corporation catering to millennials. Don’t you think a berry blue or sunshine yellow will give you a niche identity distinctively apart from all your industry peers and make the consumer immediately associate you with the color no matter on which medium it is used? Reliance Jio certainly would have considered it while starting to slowly move towards Persian blue from its bright red similar to core competitors Airtel and Vodafone. So would have AirBnB while choosing a coral shade over their old blue similar to Booking’s identity. <div type="image" title="Color Logos Case" msid="77389917" hostid="261"></div> Content Overload: One of the most profitable industries inarguably today is the smartphone hub with over 1.5Bn average annual unit sales and still a long way in penetrating the global population. No matter where you are from, you can’t deflect from its plethora of content across platforms. Oppo and Vivo with their selfie camera positioning had planned a budget of INR 2200 crores for the Indian market to dwarf Samsung at its own game. Xiaomi, who finally did overthrow Samsung poured INR 3500 crores last year aiming at an even more aggressive advertising strategy. All pointing towards an inevitable content war subtly numbing the audiences to all headlines and creatives. And hence you see Xiaomi goes with a blazing orange, Oppo graces forest green, One Plus Christmas red, Google Pixel a more humbling grey to Apple’s black while Vivo goes for sailor blue. We aren’t talking about one off anomalies that used to happen in every category like Ferrari’s legendary lemon yellow backdrop whilst Audi, Mercedes, Toyota, Honda, Hyundai, Nissan, Jaguar &amp; Lexus all go with the same kind of logo in metallic elements on their cars. These smartphone examples are of all category leaders and none come close to the other’s color no matter how close their audience, personality and brand experience might be. Now one of the major brand identity tests is to create a fictional character with a rich personality to match with your corporation’s values, vision and heart. The catch is, it only works if your audience feels that metaphor coming alive too. Otherwise as you will agree, every horse breeder can sell a Unicorn. And with all due respect the 2020s audiences have evolved from all color tones (and it’s kind of fair if not lovely). Now they are more interested and invested in what you actually do both with your offering and beyond it for the overall society. They know how to filter the frills from the flowers. Typography before color: The formula is minimal typography for maximum impact. Uber tweaked its logo element to a bolder no nonsense font of its name. Indian food delivery pioneers have removed their famous spoon and now just have Zomato written in a thicker and slightly curved style. The legendary Absolut Vodka which had a designer cursive line - ‘Country of Sweden’ in the logo itself has switched to just a navy blue Absolut enjoying the solitude. Visa has removed the card element last decade and even fired the fiery yellow edge to allow blue to engulf all of its typography on this one. Dominos have hit puberty late but by making the name come out of the inclined box they now demand complete attention. IHop, Dunkin... the list honestly keeps going on but the verdict is clear. Clarity of your name in the logo, something that can be read in a nanosecond during a digital post or banner is what works today. And when pure simplicity takes absolute precedent, intricate elements, three tone color schemes and parallel mascots take a backseat. Bold is the new black and clarity is the new color. Millennials demand this world to stop seeing colors, at least without any preconceived prejudices. And if anything the creative industry should be elated with this transformation, one less box to fit into. Let the old labels make way for legacy. If only the world would start having bold brands who can make shirts for men and call it pink. Oh wait, we already do - Pink Shirtmaker, London owned by the Louis Vuitton group. By Abhik Choudhury, Chief strategist &amp; founder, Salt and Paper Consulting. He is also a visiting faculty of Market Research and Campaign Planning at <keyword id="9497386" type="COMPANY" weightage="20" keywordseo="the-indian-institute-of-mass-communication">the Indian Institute of Mass Communication</keyword>, New Delhi. You can reach him at abhik@saltandpaper.co.

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