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<ul><li><keyword id="2822035" type="General" weightage="100" keywordseo="fireside-ventures" source="Orion">Fireside Ventures</keyword>, a <keyword id="6357097" type="General" weightage="20" keywordseo="venture-capital" source="Orion">venture capital</keyword> fund, is currently managing ₹3,000 crore ($395 million) of AUM. </li><li>It has backed consumer brands like unicorn Mamaearth, boAt, Vahdam, <keyword id="3711903" type="General" weightage="50" keywordseo="slurrp-farm" source="Orion">Slurrp Farm</keyword>, Kapiva, 91 Cycles to name a few. </li><li>The third fund will invest in 25-30 digital-first consumer startups. </li></ul>Fireside Ventures, an early-stage venture capital fund, said that it has closed its third fund after raising ₹1,830 crore ($225 million). Fireside Fund III is anchored by investors like Self-Reliant India Fund, <keyword id="5157154" type="General" weightage="50" keywordseo="investment-corporation-of-dubai" source="Orion">Investment Corporation of Dubai</keyword>, SBI, <keyword id="648852" type="General" weightage="50" keywordseo="premji-invest" source="Orion">Premji Invest</keyword>, Waterfield - Fund of Funds, <keyword id="6357073" type="General" weightage="50" keywordseo="itc" source="Orion">ITC</keyword>, Emami, <keyword id="4640195" type="General" weightage="50" keywordseo="sharrp-ventures" source="Orion">Sharrp Ventures</keyword> and several start-up founders. The fund is known for investing in digital-first consumer brands. It said that its third fund will invest in 25-30 D2C startups across health and wellness, edutainment, lifestyle and FMCG sectors. “Fireside Ventures was created with a very clear vision, to invest in the next generation of consumer brands, a space that was witnessing the start of disruptive changes. Five years later, we are delighted to see the magnitude of change these brave new digital-first brands are creating, and we look forward to seeing them create even more value in the future,” <keyword id="42902" type="General" weightage="50" keywordseo="kanwaljit-singh" source="Orion">Kanwaljit Singh</keyword>, managing partner, Fireside Ventures said. The market for D2C brands in India is set to touch $100 billion by 2025. Fireside Fund also said it will seek out brands with a strong purpose, responsible practices, and healthy governance. Fireside Fund has been the first institutional investor in 75% of its 31 portfolio companies. <keyword id="15236362" type="General" weightage="50" keywordseo="moreso" source="Orion">Moreso</keyword>, over 50% of them have been founded or co-founded by women, it claims. Fireside Funds I and II have invested in personal care unicorn Mamaearth, and IPO-bound boAt. Its portfolio includes Vahdam, Slurrp Farm, Kapiva, 91 Cycles, Design Café, FS Life (erstwhile FableStreet), The Sleep Company, Gynoveda, Wellbeing Nutrition and Pilgrim. Launched in 2017, Fireside Ventures with the close of its Fund III is currently managing assets to the tune of ₹3,000 crore or $395 million. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/homegrown-edtech-platform-adda247-raises-35-mn-google-new-investor/articleshow/94811713.cms">Homegrown edtech platform Adda247 raises $35 mn, Google new investor</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/early-diagnosis-of-retinopathy-of-prematurity-can-save-5000-babies-from-going-blind/articleshow/94810909.cms">‘Early diagnosis of retinopathy of prematurity can save 5,000 babies from going blind’</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/education/news/iis-jamia-bhu-on-thes-world-university-rankings-2023/slidelist/94807189.cms">IIS, Jamia, BHU on THE's World University Rankings 2023</a>

Fireside Ventures closes its third fund at $225 million

<ul><li>Smartphone brand <keyword id="215177" type="General" weightage="100" keywordseo="vivo" source="Orion">vivo</keyword> has launched its <keyword id="188" type="General" weightage="20" keywordseo="diwali" source="Orion">Diwali</keyword> films featuring veteran <keyword id="42902" type="General" weightage="20" keywordseo="kanwaljit-singh" source="Orion">Kanwaljit Singh</keyword>.</li><li>In an exclusive chat with Ad &amp; Media Insider, <keyword id="6574292" type="General" weightage="20" keywordseo="nipun-marya" source="Orion">Nipun Marya</keyword>, Director Brand Strategy, vivo India, about the new campaign, the consumer sentiments during this year’s festive season, the brand's IPL experience this year, and more.</li></ul>The Diwali week is finally here and brands are doing all in their might to make the most of this festive season, by telling lots of beautiful stories. Last week, Vivo launched a heartwarming film, to celebrate the spirit of Diwali. Featuring actor Kanwaljit Singh, the film is aimed at encapsulating the role of smartphone photography in rekindling the joy of connection. At a time when there is a constant debate about the effectiveness of long-form ads with dwindling attention spans, this film has tried to tell an engaging story in around 5 minutes. The film has been conceptualized by <keyword id="3553893" type="General" weightage="20" keywordseo="dentsu-impact" source="Orion">Dentsu Impact</keyword>. Photographs play an important role in the narrative and Vivo has tried to show how We speak to Nipun Marya, Director Brand Strategy, vivo India, about the new campaign, the consumer sentiments during this year’s festive season, the brand's IPL experience this year, and more. Excerpts: Q) People often talk about the decreasing attention span of consumers and you have just released a 5-minute long film for Diwali. Tell us a bit about Vivo's new campaign. As a consumer-centric brand, vivo has always focused on establishing a strong connection with its audience through emotional storytelling. With the #JoyofHomecoming campaign, which features the veteran actor Kanwaljit Singh, we aim to remind everyone that the festival of lights is fondly celebrated, when the entire family gets together. The campaign encapsulates the role of smartphone photography in rekindling the joy of connection, and aims to bridge the emotional and physical distances between families and spread happiness. India is a collectivist society and all of us are deeply emotionally connected with our families and loved ones. We understand the importance of capturing those perfect moments with the help of photography and how it can be used to stimulate emotions. Delivering industry-leading camera technology, we want our consumers to enjoy this festival with their loved ones and capture every moment and emotion. Through this, we also intend to strengthen our bond with our consumers, which motivates in delivering what’s best for them. Q) What is the message you are trying to communicate? Mobile photography has always been the key focus for vivo. From delivering industry-leading technology to the best camera features, we make sure to spread joy to our consumers. We understand how technology plays a vital role in today’s fast-moving world and how important it is to help us stay connected with our loved ones. Pictures have a way of conveying the entire story. The purpose of this campaign is not to highlight a feature, rather to understand and establish the emotional connection behind the picture. At vivo, we understand that technology is an enabler for the joy in our lives and through this campaign we want to celebrate homecoming, as people will be able to visit their families by taking necessary precautions and celebrating this festival at home. Q) How has the festive season been so far this year? Are you witnessing a revival? Recovering from 2020, this year businesses across the globe are gradually coming back at their feet. We are definitely optimistic about the situation getting back to normal. As businesses are steadily opening up, we foresee a huge scope for engagement with the consumers and smartphone sales are proportionately expected to increase in the coming months. According to <a href="https://www.counterpointresearch.com/india-smartphone-market-q2-2021/">Counterpoint Research</a>, India’s smartphone shipments grew 82% YoY to reach over 33 million units in Q2 2021, and vivo captured a 15% share of the overall market. According to the latest report by Counterpoint, nearly $7.6 billion worth of smartphones is likely to be sold during the ongoing festive season in India. Hence, we are looking forward to the festive season. Despite the ongoing situation, we have managed to maintain steady growth in the Indian smartphone market. Our V-Series models (the V20 and V21 series) have performed exceptionally well, and since our entry in the premium segment with the X50 series last year followed by the launch of the X60 series early this year, our market share has become 3x in the above 30k segment. The growth numbers clearly indicate the consumers are out there, looking for feature-rich smartphones. As we are nearing the festive season, we have introduced the all new X70 Series Co-Engineered with ZEISS and the response so far has been tremendous. We expect that the premium segment will continue to grow in the future as consumers want to upgrade and they are willing to pay a premium for meaningful innovation. Therefore, the launch of the X70 series is vital ahead of the festive season. Q) How did your association with IPL work for you this year? The duration of <keyword id="3133036" type="General" weightage="20" keywordseo="vivo-ipl" source="Orion">Vivo IPL</keyword> holds special significance in our product launch and marketing calendars. It offers us a great opportunity to engage with our target audience across the country more effectively. Most of our significant announcements or product launches have been around IPL - be it the announcement of <keyword id="6354486" type="General" weightage="20" keywordseo="virat-kohli" source="Orion">Virat Kohli</keyword> as our brand ambassadors, the launch of our popular V-series, or the most recent launch of our X70 series. Cricket, as we know, is not just a sport in our country. It is a religion. People in the country are connected to the game. The Indian Premier League is a perfect blend of cricket and entertainment. It offers a brilliant opportunity to connect with our consumers more closely and effectively. Vivo IPL has played a vital role in catapulting vivo to being a leading smartphone brand in India. It has helped us tremendously in enhancing Brand Awareness and Brand Salience. Today, Vivo's brand awareness is 100% in the country. Furthermore, association with the league has also had positive impacts on our business results. Today, vivo is the leading smartphone player in the mainline retail market (Source: GFK). As a brand, our consumer-centricity focuses on youth, and vivo IPL helps us to connect with them. Q) How is Vivo as a brand pushing the threshold of technology and innovation in the smartphone segment? What more can we expect from the band in the coming months? At vivo, our acute focus is our consumers. As a consumer-centric brand, we have set high benchmarks in the industry by launching meaningful innovations for our consumers and have won the admiration of smartphone lovers with its technological prowess. From introducing the world's first 20MP moonlight selfie camera to launching its first smartphone with in-built Gimbal technology, vivo has always surprised the audience with its innovative products. The recently launched X70 series is a testament to the capabilities that vivo has as a premium smartphone brand. Similarly, the vivo V21 launched this year, was the thinnest smartphone in the category and was launched with the Industry first front OIS. We are manufacturing future-ready 5G phones that also provide the industry best camera innovation and design excellence. In the future, to meet the demands of our evolving consumers, we will continue to focus on game-changing innovations and customize enhancing smartphone user experience. Q) Where will your next phase of growth come from in India? We have always focused on providing innovative technology to our customers and helping spread joy in their lives. At vivo, this has been our vision for the last six years of spreading happiness among our Consumers, Partners, Employees, and Shareholders. With the same vision, we will continue to delight our customers by bringing splendid innovations in the future.

Our new campaign aims at bridging the emotional and physical distances between families and spread happiness: Nipun Marya, vivo India

Noida-based <keyword id="3698762" type="UNKNOWN" weightage="20" keywordseo="Fastudent">Fastudent</keyword>.com is India’s first and only B2B2C DIY education e-commerce platform, catering to the academic needs of students across age groups - from play school to post graduate students - by supplying them a range of education products and services. 
 
It sells everything right from textbooks to stationery for students. The startup has partnered with more than 200 education institutes to help them create their own customized virtual shops - using the Fastudent technology platform. 
 
With a strong vendor base and tie-ups with 1000+ brands in education, the company claims, its operations has helped service the student community like never before. Founded by IIT-IIM alumnae, Gaurav Barman and Geetanjali Khanna, Fastudent is currently offering more than 1 lakh SKUs across eight categories – books and stationery, academic accessories, uniforms, games, sports, digital products, and customised merchandise. With curated super focused product ranges for each educational institute, it is aiming at empowering the student with choices, access and predictability in the supplies domain. 
 
Fastudent now aims to expand to private schools in other markets like Bangalore, Pune and Mumbai by 2017, and add another 1,000 institutes in the near future. 
 It raised seed investment from a group of angel investors led by <keyword id="1089889" type="ORGANIZATION" weightage="20" keywordseo="Ashoka-University">Ashoka University</keyword> trustee Ashish Gupta in 2015. In a recent pre-Series A funding, it has raised money from Fireside Ventures founder <keyword id="42902" type="PERSON" weightage="20" keywordseo="Kanwaljit-Singh">Kanwaljit Singh</keyword>, former Vertex Venture director Ajay Lakhotia, former <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">Softbank</keyword> director Pavan Ongole and Ashish Gupta.

This unique education e-commerce marketplace is giving Indian students what they needed for the longest time

The December 24, 1999 hijack of the Indian Airlines flight is getting a series treatment at Netflix with <keyword id="19913032" type="General" weightage="20" keywordseo="anubhav-sinha" source="keywords">Anubhav Sinha</keyword> attached as creator and director. The show is titled "IC 814: The Kandhar Hijack" and stars <keyword id="19901508" type="General" weightage="20" keywordseo="vijay-varma" source="keywords">Vijay Varma</keyword>, Patralekha, Pankaj Kapur, Naseeruddin Shah, Arvind Swamy, Dia Mirza, Kumud Mishra, Manoj Pahwa, Amrita Puri, and Anupam Tripathi. According to the makers, the series revolves around "the 24th December 1999 hijacking of the Indian Airlines flight IC 814 which was en route from Kathmandu to New Delhi. It was taken to Kandahar. The hijack lasted seven days and while the crew and passengers suffered, officers back home tried to find a solution to bring them home." Sinha, known for films such as "Mulk", "Article 15" and "Bheed", said it was a responsibility to be as authentic as possible while working on the series. "When I started doing research, almost everyone remembers a few things about the hijack, and what all happened during the process. I realised it is a very complex story and a lot of things happened in those seven days and not many people know about it. "I met a lot of officers, passengers, the pilot, and there was a lot more to share. We have put it all in the show... We had to make it factually correct and yet dramatic and engaging... It was an interesting process," the director said at the Next on Netflix event here. Sinha added Monika <keyword id="20775712" type="General" weightage="20" keywordseo="shergill" source="keywords">Shergill</keyword>, Vice President, Content, Netflix India, had promised him that the shooting of the series will conclude within eight months but it went on for two years. Shergill described the show as a "thrilling, propulsive rendition of the longest hijacking in the history of aviation in the world". "When we started out on this story, it took us a while to get down to actually making it in the right way. It was a journey for us because it is such a journalistic sort of piece, but it is such a large story of human interest and it had to be told in the most dramatic and thrilling fashion," Shergill told PTI. Dibyendu Bhattacharya, Pooja Gor, Kanwaljit Singh, Aditya Srivastava, <keyword id="19983483" type="General" weightage="20" keywordseo="sushant-singh" source="keywords">Sushant Singh</keyword>, and <keyword id="20361223" type="General" weightage="20" keywordseo="yashpal-sharma" source="keywords">Yashpal Sharma</keyword> also round out the cast of "IC 814: The Kandhar Hijack". SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/oppo-f25-pro-with-a-32mp-selfie-camera-launched-starting-at-23999/articleshow/108102680.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/oppo-f25-pro-with-a-32mp-selfie-camera-launched-starting-at-23999/articleshow/108102680.cms" target="_blank">Oppo F25 Pro with a 32MP selfie camera launched starting at ₹23,999</a><a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-march-2024/slidelist/108095936.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-march-2024/slidelist/108095936.cms" target="_blank">Upcoming cars launching in India in March 2024</a><a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-march-2024/slidelist/108090741.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-march-2024/slidelist/108090741.cms" target="_blank">Upcoming smartphones launching in India in March 2024</a>

Netflix announces series on 1999 Kandahar hijack, Anubhav Sinha to direct show

<ul><li><keyword id="11953189" type="General" weightage="20" keywordseo="supertails" source="Orion">Supertails</keyword>, a pet-care startup, has raised $10 million in Series A funding.</li><li>The round was led by <keyword id="2822035" type="General" weightage="80" keywordseo="fireside-ventures" source="Orion">Fireside Ventures</keyword>, along with <keyword id="1148513" type="General" weightage="80" keywordseo="saama-capital" source="Orion">Saama Capital</keyword> and DSG Consumer Partners.</li><li><keyword id="11953188" type="General" weightage="100" keywordseo="supertails-com" source="Orion">Supertails.com</keyword> is a pet-care ecommerce platform that offers pet supplies, training and vet consultations.</li></ul>Pet-care startup Supertails.com announced on Wednesday, November 9, 2022, that it has raised $10 million in Series A funding from Fireside Ventures, a Bengaluru-based investment firm. The round also saw participation from existing investors such as Saama Capital and DSG Consumer Partners. Supertails.com was founded in 2021 by Varun Sadana, Aman Tekriwal, and <keyword id="5014857" type="General" weightage="50" keywordseo="vineet-khanna" source="Orion">Vineet Khanna</keyword> to address the needs of first-time pet owners. The platform has now become a pet-care focused ecommerce marketplace for pet supplies, pet training and online vet consultations across the country. The company has already completed over 20,000 pet consultations and offers over 10,000 products from over 200 brand partners. “At Supertails.com, our vision is to create a platform that makes their (pet parents) lives easier. From providing pet nutrition to round-the-clock pet care and consultation, our aim is to build a platform that integrates products, services, and communities,” said Supertails.com co-founders Varun Sadana, Aman Tekriwal, and Vineet Khanna. The round also saw investment from angels such as Cred founder Kunal Shah, MamaEarth co-founder Varun Alagh, Genesis Luxury Fashion president <keyword id="3799" type="General" weightage="50" keywordseo="sanjay-kapoor" source="Orion">Sanjay Kapoor</keyword>, Curefoods founder Ankit Nagori and The Whole Truth Foods founder <keyword id="274057" type="General" weightage="50" keywordseo="shashank-mehta" source="Orion">Shashank Mehta</keyword>. “With this round of funding, we want to invest in making a one-stop platform for pet parents that caters to all their needs. We are thrilled to have the support of Fireside Ventures, Saama Capital, and DSG consumer partners in this journey and aim to leverage their expertise to become the most preferred and loved pet-care platform in India,” the trio added. Supertails.com plans on using the raised funds to scale its tech infra and launch its mobile application. The company is also expanding its newly launched brand Henlo, which currently sells diet enhancers for dogs. The money will also be used to expand its verticals, strengthen the supply chain and improve the post-sale experience. “Supertails.com stands out as a unique online platform that caters from pet-care to pet indulgences in spaces like food, grooming, and fashion too. We at Fireside Ventures, believe that there is a massive untapped potential in the pet care industry and are certain that with Supertails.com’s innovative vision and the strength of their leadership team, the pet ownership industry has huge potential in the years to come,” said Kanwaljit Singh, founder and managing partner, Fireside Ventures. Supertails.com had earlier raised $2.6 million during the Seed round, led by Saama Capital and DSG Consumer Partner. <cmsannotation type="cmsannotation" annotationid="Company looks to double its ARR" comment="subhead" text="Company looks to double its ARR">Company looks to double its ARR</cmsannotation> Supertails.com reported an annual recurring revenue (ARR) of ₹50 crore in the last 18 months, and is looking to double it to ₹100 crore by March 2023. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/health-tech-startup-curebay-raises-50-crore-in-series-a-funding-led-by-elevar-equity/articleshow/95397581.cms">Health-tech startup CureBay raises ₹50 crore in Series A funding led by Elevar Equity</a> <a href="https://www.businessinsider.in/business/auto/news/best-festive-auto-sales-in-the-last-4-years-but-sales-may-decline-says-fada-report/articleshow/95354054.cms">Best festive auto sales in the last 4 years, but sales may decline says FADA report</a> <a href="https://www.businessinsider.in/tech/news/four-out-of-five-indian-business-executives-predict-an-increase-in-cybersecurity-budgets-in-2023/articleshow/95403725.cms">Four out of five Indian business execs believe that their cybersecurity budgets will rise in 2023</a>

Pet-care startup Supertails.com raises $10 million in Series A funding

The Central Bureau of Investigation (<keyword id="6354572" type="General" weightage="100" keywordseo="cbi" source="Orion">CBI</keyword>) has arrested 11 more persons, including businessmen and <keyword id="347681" type="General" weightage="80" keywordseo="pearls-group" source="Orion">Pearls Group</keyword> employees in connection with ₹60,000 crore Pearls Ponzi Scheme case. "Chander Bhushan Dhillon, Prem Seth, Manmohan Kamal Mahajan, Mohanlal Sehajpal, Kanwaljit Singh Toor are the employees of the Pearls Group who have been placed under arrest. Apart from them we arrested Delhi, Chandigarh and Kolkata-based businessmen Praveen Kumar Agarwal, <keyword id="978155" type="General" weightage="20" keywordseo="mannoj-kumar-jain" source="Orion">Mannoj Kumar Jain</keyword>, Akash Agarwal, Anil Kumar Khemka, Subhash Agarwal and Rajesh," said a CBI official. The official said that the CBI had earlier registered a Preliminary Enquiry on the directions of the Supreme Court against Pearls Group, which had allegedly collected around ₹60,000 crore from around five crore investors all across the country by illegally operating different investment schemes, without any statutory approval, with an intention to cheat them. The accused had given land guarantee to the investors to lure them. The people were told that they would be getting an interest of 12.5 per cent if they would invest. They were offered free accidental insurance and income tax free maturity on their investments. The accused had also promised the investors that the value of the land that they were purchasing would multiply fast. Later on the basis of the enquiry a case was registered against Ms. PGF Limited, Ms PACL Limited, <keyword id="2082526" type="General" weightage="20" keywordseo="nirmal-singh-bhangoo" source="Orion">Nirmal Singh Bhangoo</keyword> and other Directors of these two flagship companies of the Pearls Group. During investigation, Nirmal Singh Bhangoo, <keyword id="154354" type="General" weightage="20" keywordseo="sukhdev-singh" source="Orion">Sukhdev Singh</keyword>, <keyword id="58350" type="General" weightage="20" keywordseo="subrata-bhattacharya" source="Orion">Subrata Bhattacharya</keyword> and Gurmeet Singh were arrested in January 2016. Later in April 2016 the CBI filed it's first charge sheet against them. The CBI had identified properties of Nirmal Singh Bhangoo worth ₹1.85 lakh crore in the current market rate across the country. The accused had also invested in Australian companies. Australian cricketer Bret Lee was a brand ambassador for the Pearl Group and the IPL team 'Kings XI Punjab' was also cosponsored by Pearl Group. To investigate the role of other accused in this multi-crore financial scam, which had adversely affected the interests of millions of investors, further investigation of the case was continued. This morning the CBI arrested 11 more persons for their alleged involvement in the case. The Enforcement Directorate is also probing a case of PMLA in this connection. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/space/news/nasa-plans-to-return-to-the-moon-while-esa-has-missions-targeted-for-jupiter-in-2022/articleshow/88445816.cms">Space science missions to look forward to in 2022</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/improve-your-iphone-experience-with-these-10-tips-from-apple/articleshow/88445422.cms">Improve your iPhone experience with these 10 tips from Apple</a>

CBI arrests 11 in ₹60,000 crore Pearls Ponzi scam

<ul><li>The announcement comes as <keyword id="4548811" type="General" weightage="20" keywordseo="mamaearth" source="Orion">Mamaearth</keyword> turned a unicorn last week, after its parent company raised $52 million.</li><li>The company will use this funding to test out its products in the Middle East and South Asian markets.</li><li>The company expects to double its business by the end of March 2022.</li></ul>Direct-to-consumer (D2C) personal care brand Mamaearth has turned profitable in the financial year 2021, the company’s cofounder and chief executive (CEO) Varun Alagh told Business Insider. The announcement comes as Mamaearth turned <a href="https://www.businessinsider.in/business/startups/news/india-is-home-to-81-unicorns-now-as-mamaearth-globalbees-make-it-to-the-list/articleshow/88558418.cms">a unicorn last week</a>, after its parent company Honasa Consumer Private Limited raised $52 million at a valuation of $1.2 billion. A unicorn, in startup parlance, is a company valued at or over a billion dollars. Mamaearth’s Varun told BI that its revenue grew nearly four fold to ₹480 crore in the last financial year (FY20). Kanwaljit Singh of Fireside Ventures, who is one of the investors at Mamaearth, had previously <a href="https://inc42.com/buzz/what-the-financials-mamaearth-revenue-surges-6x-in-fy20-with-booming-sales/">noted</a> that Mamaearth crossed ₹300 crore in revenue two-three months before closing FY2021. Now, Varun expects to close March 2022 with double the revenue — which would be around ₹960 crore — by focusing on inorganic growth, launching more brands and doubling down on its distributions. While the number may be high, Mamaearth's past record has shown that it may not be too ambitious of a dream. <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;"> </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;">FY2019 </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;">FY2020 </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;">FY2021 </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;">Revenue </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;">₹5.9 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹112 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;">₹480 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;">Profit </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-₹3.5 crore </td><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;">-₹5.9 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Undisclosed </td></tr></tbody><tbody></tbody></table>Source: Mamaearth’s financial statement for FY2020, Company statements Founded by Varun and Ghazal Alagh, Mamaearth is a D2C brand that sells over 80 beauty and personal care products across India through online and offline medium. The company will soon start testing out its products in the Middle East (Gulf Cooperation Council) and South Asia, Mamaearth’s CEO Varun told Business Insider. The latest refunding round of Honsa Consumer Private Limited — the parent company of Mamaearth, The Derma Co and other personal care house of brands — was led by Sequoia. Sofina Ventures and Evolvence had also participated in the round, which gave exits to several undisclosed early backers as well as employees of Mamaearth. “We will be deploying the funds towards brand launches, expanding distribution, inorganic growth and expanding the current portfolio across borders. Sequoia, Sofina and Evolvence have unique strengths in US, Europe and GCC respectively which will help us grow internationally and learn from others in these markets," Varun said. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/khatabook-dunzo-purplle-rapido-and-17-other-startups-that-can-become-unicorns-in-2022/slidelist/88614480.cms" data-type="tilCustomLink">From Dunzo to Purplle to Khatabook — here are the 21 startups that may turn unicorns in 2022</a> <a href="https://www.businessinsider.in/#:~:text=Tata%20Motors%2C%20Maruti%20Suzuki%2C%20Future%20Retail%20and%20other%20hot%20stocks%20on%20the%20first%20trading%20day%20of%202022" data-type="tilCustomLink">Tata Motors, Maruti Suzuki, Future Retail and other hot stocks on the first trading day of 2022</a> <a href="https://www.businessinsider.in/tech/news/tesla-delivers-a-record-number-of-vehicles-in-the-4th-quarter-smashing-analyst-estimates/articleshow/88654582.cms" data-type="tilCustomLink">Tesla delivers a record number of vehicles in the 4th quarter, smashing analyst estimates</a>

Mamaearth says it has turned profitable as revenue neared ₹500 crore last year

<ul><li>The funding round has also provided partial exits to some of <keyword id="4548811" type="PERSON" weightage="20" keywordseo="Mamaearth">Mamaearth</keyword>’s early investors.</li><li>Mamaearth will also use the funding to double down on its brand’s growth through offline expansion.</li><li>Mamaearth has crossed ₹300 crore in revenue in the financial year 2020-21.</li></ul>Gurugram-based personal care startup Mamaearth has raised $50 million in a funding round led by Belgian investment fund <keyword id="1898010" type="PERSON" weightage="20" keywordseo="Sofina">Sofina</keyword>. Mamaearth, founded by Ghazal Alagh and Varun Alagh, will use the funding to double down on its offline expansion, particularly its skincare brand Derma Co, including acquisitions in the beauty and personal care space. Existing investor <keyword id="122716" type="CITY" weightage="20" keywordseo="Sequoia-Capital">Sequoia Capital</keyword> also participated in the round, which valued Mamaearth at $730 million. The latest round was mostly in the form of fresh issue of shares, although some existing investors partially sold their stake. Investors who sold some of their shares in this round: <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></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;">Fireside Ventures </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;">Sharp Ventures </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;">Stellaris Venture Partners </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;">Titan Capital </td></tr></tbody></table> Besides this, the company has also bought back shares from some of the early employees. “The plan is to double the sales by 100% this year. Because of COVID-19’s second wave, offline expansion was halted, but now we plan to deepen our offline presence,” the company’s co-founder Varun Alagh has said. The Gurugram-based direct-to-consumer (D2C) personal care brand Mamaearth was founded in 2016. The company had started its journey as a baby care brand, but eventually evolved into a personal care brand. The company has expanded its product line by introducing 12 products in the beginning of 2020, which led to a surge in the company’s revenue in the financial year 2021. Kanwaljit Singh of Fireside Ventures, one of Mamaearth’s investors, in an event held on January 20, had announced that Mamaearth has crossed ₹300 crore in revenue for financial year 2020-21. Mamaearth’s revenue had grown nearly six-fold in FY20 to ₹112 crore, from ₹17.9 crore in FY19, according to data platform Tofler. The company has 140 products, which are sold both online and offline across 12,000 stores pan India. SEE ALSO <a href="https://www.businessinsider.in/business/news/reliance-retail-the-cash-cow-for-mukesh-ambanis-ril-may-be-hit-by-the-second-wave-of-the-pandemic/articleshow/84644924.cms">Reliance Retail, the cash cow for Mukesh Ambani’s RIL, may be hit by the second wave of the pandemic</a> <a href="https://www.businessinsider.in/tech/news/zomato-paytm-sony-liv-disneyhotstar-down-as-massive-internet-outage-sweeps-across-many-countries/articleshow/84653441.cms">Zomato, Paytm, Sony LIV, Disney+Hotstar back up after glitch takes down internet</a>

An Indian skin care products startup gets a $750 million valuation with $50 million cheque for new acquisitions

<ul><li><keyword id="46718" type="General" weightage="20" keywordseo="iday" source="Orion">iDay</keyword> is dubbed as India's Largest &amp; most Definitive Startup Event for Tech Entrepreneurs featuring Global Icons, Unicorn Founders &amp; Leading Investors</li><li>Focuses on Tech trends including Fintech, Crypto SaaS for SMEs, Gig Economy, Capital Markets, Healthcare, Hybrid education &amp; More</li><li>Spread across 2 Days | 100+Speakers |50+ Sessions | Unicorn Roundtables, Workshops, Masterclasses &amp; Engaging Sessions</li></ul>With a huge number of companies witnessing accelerated scale, despite uncertain times, <keyword id="502904" type="General" weightage="20" keywordseo="tie-delhi-ncr" source="Orion">TiE Delhi-NCR</keyword> is organising the 10th edition of <keyword id="4390638" type="General" weightage="20" keywordseo="India-internet-day" source="Orion">India Internet Day</keyword> (iDay) in virtual format, with the theme ‘Digital India: Escape Velocity. With a Focus on Tech trends including Fintech, Crypto SaaS for SMEs, Gig Economy, Capital markets, Healthcare, Hybrid education &amp; more, it will span over 2 days 23rd &amp; 24th September. The conference plays host to in-depth sessions &amp; keynotes by leading founders &amp; investors from India and around the World. Speaking about the event, Karan Mohla, Co- Chair for iDay 2021 &amp; Partner, Chiratae Ventures said – “As India leapfrogs to being a tech enabled economy, India Internet Day 2021 rings in with the theme - Digital India: Escape Velocity. The year 2021 has been a defining one for the Indian startup ecosystem in more ways than one — record amount of fund inflow, creation of new unicorns, companies going public, and a new benchmark in terms of mergers &amp; acquisitions. This reflects the strength of the Indian start-ups. Through iDay this year we are putting a spotlight on the learning, insights &amp; trends which have in last 18 months, seem to have lent ESCAPE VELOCITY to the entire startup ecosystem.” Business Insider is the media partner for TiE's ‘Digital India: Escape Velocity' event. The Stellar line up at the event includes Global Speakers, Leading Entrepreneurs, Investors, Influencers, Startups, Tech Innovators likeRuchir Sharma, Morgan Stanley | Monish Darda, Icertis | Surojit Chatterjee, Coinbase | Jeff Maggioncalda, Coursera |John T Chambers, JC2 Ventures |Kanwaljit Singh, Fireside Ventures |Balaji S. Srinivasan, Angel Investor &amp; Entrepreneur, | Byju Raveendran, Founder &amp; CEO- Byju’s |Kunal Bahl, Co-founder &amp; CEO – Snapdeal|Kushal Bhagia, CEO – firstcheque | Rajan Anandan, Sequoia India &amp; Surge | Kumara Raghavan, Amazon Internet Services |Bikram Singh Bedi, Google Cloud | Lathika Pai, Microsoft |Vani Kola, Managing Director – Kalaari Capital | Supria Dhanda, Western Digital. “India Internet Day is curated &amp; led by a team of serial entrepreneurs &amp; investors. It has become a leading platform to catch the makers and leaders of the India Internet Growth story. Over the years, tech entrepreneurs have hugely gained from the conference. This year we put a spotlight on how technology &amp; resilience have shown the way through the worst crisis of our times. 40% of Indian unicorns have been added in 2021 &amp; this augurs well for the startup ecosystem. With engaging conversations at #iDay in form of Keynotes, Fireside Chats, AMAs. Masterclasses, Panel Discussions, Unicorn Roundtables, we wish to continue to foster entrepreneurship.” said Geetika Dayal, Executive Director, TiE Delhi-NCR The Conference was supported by Startup India, Google, Western Digital, Sequoia Capital, Morgan Stanley, Coinbase, Microsoft, AWS, Icertis, Kalaari and Avendus. About TiE Delhi-NCR’s India Internet Day From its inception #iDay has set out to be a leadership conference that looks to set conversations around vision 2025 for the industry. After a resounding debut in 2012, it has grown from being relevant to being indispensable for stakeholders across the ecosystem. #iDay hosts the entire gamut of internet mobile industry in India like no other forum. India Internet Day 2020 Co-Chairs – Lathika Pai &amp; Mohit Bhatnagar along with the team Abhishek Gupta, Alok Mittal, Arvind Jha, Deep Kalra, Dev Khare, Gautam Gandhi, Karan Mohla, Latika Pai, Miten Sampat, Prasanto K Roy, Rajan Anandan, Rajat Garg, Rajesh Sawhney, Ravi Gururaj and Vani Kola are the torchbearers who put together the conference that has emerged as the only voice of India’s internet industry. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/airtel-rights-issue-details-record-date-issue-price-and-more/articleshow/86446419.cms">Airtel rights issue worth ₹21,000 crore opens next month – record date, price, ratio and everything else you need to know</a> <a href="https://www.businessinsider.in/stock-market/news/freshworks-ipo-500-crorepatis-12-billion-market-cap-and-more-that-emerged-from-indias-first-saas-listing-at-nasdaq/articleshow/86445614.cms">Freshworks IPO — 500 crorepatis, $12 billion market cap and more that emerged from India’s first SaaS listing at Nasdaq</a> <a href="https://www.businessinsider.in/business/corporates/news/zee-sony-merger-heres-what-sony-is-really-getting-from-zee-entertainment/articleshow/86420990.cms">Zee-Sony merger: Here’s what Sony is really getting from Zee Entertainment</a>

TiE Delhi-NCR kickstarts the 10th Edition of India Internet Day themed Digital India: Escape Velocity

<keyword id="3087980" type="UNKNOWN" weightage="100" keywordseo="Bonhomia">Bonhomia</keyword>’s journey into revolutionising the way India views and drinks its <keyword id="6354798" type="ORGANIZATION" weightage="100" keywordseo="coffee">coffee</keyword> started way back in 2012 when <keyword id="2484467" type="UNKNOWN" weightage="100" keywordseo="Kunal-Bhagat">Kunal Bhagat</keyword>, the CEO of Indulge Beverages, the Delhi-based company that owns and distributes <keyword id="3757119" type="UNKNOWN" weightage="100" keywordseo="premium-coffee">premium coffee</keyword> and tea brand Bonhomia, moved back to the country from U.K. 
 At that point, all Bhagat was armed with was the love for single serve <keyword id="3757117" type="UNKNOWN" weightage="100" keywordseo="coffee-capsules">coffee capsules</keyword> and his desire to start a company of his own. In November 2013, he got Tuhin Jain, an ex-Pepsi executive on board as the company’s COO. Both the co-founders realised that they had to get their technology in place before anything else and thus the first two years were entirely dedicated for the same. 
 
It was only in 2014 that the duo decided to test out the market and launched with two flavours. Today, they house 12 flavours. 
 
Needless to say, they were a big hit. Bonhomia soon became not only a category leader, when it came to premium single-serve coffee capsules, but also a category creator. 
 
Elaborating on the reason behind the success, Bhagat makes an interesting analogy. “Single serve consumption has done to coffee what internet has done to the world,” he says. 
 
What more, they have also brought to India the Nespresso-type experience of capsule beverages with individual coffee machines which are available on their website. 
 
 
 
 
“Bonhomia has redefined coffee consumption in India and our figures show that the trend is here to stay. We were the first people to launch single served capsules in the country. What’s special about our Indian angle is that the entire product portfolio is India sourced. All our coffees and teas are 100 pc Indian origins since India is the world largest producer of coffee and tea combined. Another Indian angle is that all our products are manufactured here locally in New Delhi, using state-of-art machinery and technology,” Bhagat further reiterates. 
 
Apart from measuring success in the form of an ever-increasing base of customers hungry for their products, the duo have also managed to raise USD 2 million in two tranches last year from a group of super angels including Kanwaljit Singh, Shripad Nadkarni, Apurva Salarpuria, Ashok Dhingra, Nita Mirchandani, Sarvesh Sahara , Ramrod Advisors, Gidwani family, Tolmolbol and Nitesh Kripalani. 
 
Bonhomia’s target audience, according to Jain are both, the older well-travelled consumers and also the younger generation who can’t do without their daily dose of coffee and will pay for quality coffee. 
 
At the moment, Bonhomia’s distribution presence has expanded to all major cities in the country and their capsules and brewing machines are widely available across outlets, such as Croma, Foodhall, Hypercity &amp; Nature’s Basket. 
 
The founders believe their brand not only provides a coffee solution, but also, a lifestyle solution.

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