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<ul><li>Additionally, it will hire 300 employees to expand its operations in Singapore, Middle East and USA.</li><li>About 1,500 of the new appointees will be retail employees to manage <keyword id="1518229" type="PERSON" weightage="20" keywordseo="Lenskart">Lenskart</keyword>’s increasing offline stores network.</li><li>Lenskart’s workforce currently includes over 200 engineers, data scientists and product designers.</li></ul>Direct-to-consumer (D2C) eyewear brand Lenskart will be <keyword id="6357342" type="UNKNOWN" weightage="20" keywordseo="Hiring">hiring</keyword> 2,000 employees by next year to increase its customer base over the next few years. Besides this, it will also be hiring another 300 employees to expand its operations in international markets like Singapore, Middle East and the United States of America (USA). The firm is hiring across tech and non-tech verticals, but retail employees would make the largest chunk of it. The company recently hired over 100 employees for its Hyderabad hub. <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;">Hiring </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;">Verticals </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;">1500 </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;">More retail employees to manage Lenskart’s increasing offline stores </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;">100+ </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;">Engineers for technology teams across Bengaluru, Delhi-NCR and Hyderabad </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;">300 </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;">Supply chain and manufacturing operations </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;">100 </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;">Corporate functions across finance, consumer insights, human resources, merchandising </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;">300 </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;">To expand internationally in Singapore, Middle East and the USA </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Lenskart’s workforce currently includes over 200 engineers, data scientists and product designers. “We have continued to grow exponentially, in international markets as well as in India, and we are building a strong presence in regional markets as well through our stores and e-commerce. This has opened up several job opportunities across Lenskart to serve and delight our customers at a huge scale. So, hiring is a key aspect in our growth journey and we are looking at actively hiring skilled talent across verticals for regions like Hyderabad, Bengaluru, Mumbai, and Delhi among others,” Lenskart’s chief executive officer (CEO) and founder <keyword id="824423" type="PERSON" weightage="20" keywordseo="Peyush-Bansal">Peyush Bansal</keyword> said in a statement. Founded in 2010 by Bansal, Amit Chaudhary and Sumeet Kapahi, Lenskart is one of the largest omnichannel retailers and manufacturers of eyewear in India. The company says that it serves over 400,000 customers on a monthly basis and claims to account for nearly 30% of India’s organised eyewear market. SEE ALSO <a href="https://www.businessinsider.in/business/ecommerce/news/swiggy-reports-nearly-three-fold-increase-in-annual-revenue-in-neck-and-neck-race-with-zomato/articleshow/85233393.cms" data-type="tilCustomLink">Swiggy reports nearly three-fold increase in annual revenue, in neck and neck race with Zomato</a> <a href="https://www.businessinsider.in/investment/news/these-are-the-top-ten-most-popular-cryptocurrencies-in-the-world/slidelist/85174407.cms" data-type="tilCustomLink">Top 10 cryptocurrencies in the world — the story behind Bitcoin and other altcoins</a>

Lenskart aims to hire over 2000 employees to ramp up its operations

<ul><li>According to a Naukri JobSpeak report, jobs in information technology (IT) and IT-related areas are at an all-time high growth rate of 52% in May 2021.</li><li>As per job site Indeed, business analysts are becoming more popular across several sectors.</li><li>Business Insider has collated a few job openings for Business Analysts in various marquee companies.</li></ul>The hiring trend in India seems to be bouncing back after the disruption caused by the COVID-19 pandemic. According to a Naukri JobSpeak report, jobs in information technology (IT) and IT-related areas are at an all-time high growth rate of 52% in May 2021, as compared to pre-COVID levels i.e., June 2019. As per job site Indeed, business analysts are becoming more popular across several sectors as organisations strive to grow and adapt to the new challenges while meeting the needs of their clients and customers. Business Insider has collated a few job openings for Business Analysts in various marquee companies. 1. <keyword id="6355629" type="DEFINITION" weightage="20" keywordseo="google">Google</keyword> The US-based search engine giant is hiring Business Systems Analysts in Bengaluru, Karnataka. The candidate must have an experience of over 10 years in implementing vendor software or implementing supply chain applications with a bachelor’s degree in computer science/engineering/mathematics or related fields. Selected candidates will have to partner with the internal team to improve internal business processes by defining and implementing business solutions. Interested candidates can apply <a href="https://www.google.com/about/careers/applications/packets/ed869393-c4ed-4dbf-9038-822010c34cdc/form">here</a>. 2.Paytm Digital payments platform Paytm is looking for a Business Analyst in Noida, Uttar Pradesh. The candidate should have at least 2-5 years of experience as a business analyst or a data scientist and must be highly proficient in machine learning, algorithms and other statistical tools. The key responsibility of the selected candidate will be to design business strategies based on data findings and complete implementation and programme management. Interested candidates can apply <a href="https://jobs.lever.co/paytm/480ee99b-97b6-4886-a189-45ce853d4e25">here</a>. 3. <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> The multinational technology and e-commerce company is actively recruiting a Business Analyst in Hyderabad, Telangana. The candidate should have a relevant experience of three or more years as business analyst/data analyst or statistical analyst. The desired skills required for this position is proficiency in SQL, Python and related softwares. The candidate must have a bachelor’s/master’s degree in computer science/engineering/mathematics/statistics/finance. Interested candidates can apply <a href="https://www.amazon.jobs/en-gb/jobs/1522086/business-analyst">here</a>. 4. Cognizant The multinational IT firm is looking for a Business Analyst across various locations — <a href="https://careers.cognizant.com/in/en/job/00042871561/Business-Analyst">Bangalore</a>, <a href="https://careers.cognizant.com/in/en/job/00041209775/Business-Analyst">Chennai</a> and <a href="https://careers.cognizant.com/in/en/job/00041767402/Business-Analyst">Hyderabad</a>. The candidate must have these desired skills in these areas — business scorecard, business services and business-to-consumer. 5. <keyword id="10875" type="CITY" weightage="20" keywordseo="IBM">IBM</keyword> The multinational technology company is hiring freshers for Business Analyst positions in Bangalore, Karnataka. The chosen candidate will participate in the ongoing projects related to data analysis of IBM as well as suppliers. Applicants must have a good knowledge about data modelling and advanced SQL. Interested candidates can apply <a href="https://careers.ibm.com/job/13330682/business-information-analyst-bangalore-in/?codes=IBM_CareerWebSite">here</a>. 6. American Express The multinational financial services corporation is looking for a Business Analyst in Gurgaon, Haryana. The selected candidate will have to support the team in creating regulatory/governance reports and analyse, test these reports to draw inferences and gaps. The candidate must have at least 5 years of experience in the field of MIS and analytics. Interested candidates can apply <a href="https://aexp.eightfold.ai/careers/?pid=8098568&amp;domain=aexp.com">here</a>. 7. Lenskart The eyewear retail chain is recruiting Business Analysts for its Faridabad office. Candidates with 1.5-5 years of experience with proficiency in tools such as SQL, advanced excel are preferred for this role. The candidate should have a master’s degree or a master’s in management (MBA) from tier 1 or 2 college in technology/economics. Interested candidates can apply <a href="https://hiring.lenskart.com/o/business-analyst-analytics-faridabad">here</a>. 8. Barclays The British bank is hiring Business Analysts in Pune, Maharashtra. The selected candidates will be required to work on simple to medium complex projects with the team. The candidate should have at least 4-8 years of experience of working as a business analyst with good knowledge in the banking domain. Interested candidates can apply <a href="https://search.jobs.barclays/job/pune/business-analyst/22545/8602438400">here</a>. 9.Gartner The international research and advisory company is seeking Technical Business Analysts for its Gurgaon office. The candidate needs at least 3-5 years of experience as technical business analyst/technical product owner and should be well versed with using tools such as Lucid, Chart, MS Visio, JIRA. Interested candidates can apply <a href="https://jobs.gartner.com/job/gurgaon/technical-business-analyst/494/10659899520">here</a>. 10. Class Plus The edtech platform is actively recruiting a Business Analyst in Noida, Uttar Pradesh. The candidate should have two years of experience in a high-growth startup. The selected candidate will have to provide in-depth analysis of problem statements fundamental to growth and synthesise the data to give actionable insights to influence strategy and growth. Interested candidates can apply <a href="https://in.linkedin.com/jobs/view/business-analyst-at-classplus-2656860914?utm_campaign=google_jobs_apply&amp;utm_source=google_jobs_apply&amp;utm_medium=organic">here</a>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/banking-jobs-hdfc-axis-icici-and-other-banks-are-hiring-across-the-country/articleshow/84666214.cms">Banking jobs: HDFC Bank, Axis Bank, ICICI Bank and more are hiring across the country for various roles</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/education/news/these-are-some-of-the-universities-that-offer-free-education-for-international-students/slidelist/84463712.cms">Planning to study abroad? These are some of the universities that offer a free education for international students</a>

Google, Amazon, IBM and many more are hiring business analysts across the country

<ul><li>Consulting companies were the highlight of the placement drive having made 165 offers.</li><li>The second most in demand job offering was from IT companies, mostly for the product management role.</li><li>According to a recently released report by learning solutions firm TeamLease, businesses show a clear indication of recruitment drives in 2021.</li></ul>Indian Institute of Management, Bangalore (IIM-B), the premier business school based out of Bengaluru, just concluded its placement drive and it is yet another sign that <keyword id="6357342" type="UNKNOWN" weightage="20" keywordseo="Hiring">hiring</keyword> is back in the information technology (IT) consulting industry in India. The post-graduate programme (PGP) in management class of 2019-21 had 435 students who got a total of 481 <keyword id="162151" type="PERSON" weightage="20" keywordseo="job-offers">job offers</keyword> over a period of two days. “Our students have done remarkably well. They have been recruited by reputed companies despite COVID-19 disruptions,” said Prof. U Dinesh Kumar, chairperson of career development services at <keyword id="60501" type="COMPANY" weightage="20" keywordseo="IIM-Bangalore">IIM Bangalore</keyword>, in a statement. Consulting companies were the highlight of the placement drive having made 165 offers. The top recruiters were Accenture, Bain &amp; Company, McKinsey &amp; Company, and the Boston Consulting Group. “Companies from overseas locations like Amsterdam, Dubai and Singapore made offers across consulting, finance, international trading, and business strategy,” said Tapas Ranjan Pati, manager of career development services at IIM Bangalore, in a statement. The second most in demand job offering was from IT companies, mostly for the product management role. Meanwhile, startups like Ola, BYJU’S, and Razorpay too hired students from IIM Bangalore. However, the salary details of the job offers remain undisclosed. Here is a look at the hiring report card from IIM Bangalore <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sector/Positions </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;">Hiring </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;">Consulting </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;">165 </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;">IT </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;">78 </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;">Finance </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;">22 </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;">General management positions </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;">47 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sales and Marketing </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;">50 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Operations </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;">9 </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;">Analytics </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10 </td></tr></tbody></table> According to a recently released report by learning solutions firm TeamLease, businesses show a clear indication of recruitment drives in 2021, with a special focus on sectors like information technology, telecommunications, e-commerce and start-ups. “For the period February-April, 2021, freshers hiring intent has improved by 2.5 times from the lockdown period and as the economy opens up, it is expected to go up further,” Shantanu Rooj, founder and chief executive at TeamLease EdTech, said in a statement. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/ratan-tata-is-reportedly-exiting-lenskart-with-returns-of-28-times-the-investment/articleshow/81268916.cms">Ratan Tata is exiting Lenskart with returns of almost five times the investment</a> <a href="https://www.businessinsider.in/india/news/indians-are-heading-back-to-parks-supermarkets-and-pharmacies-but-malls-and-theatres-are-not-on-the-priority-list/articleshow/81271614.cms">Indians are heading back to parks, supermarkets and pharmacies — but malls and theatres are not on the priority list</a> <a href="https://www.businessinsider.in/finance/news/explained-the-nue-licence-for-payments-that-tata-ambani-and-bezos-have-applied-for/articleshow/81268434.cms">EXPLAINED: The NUE licence for payments that Tata, Ambani and Bezos have applied for</a>

IIM Bangalore’s 435 students get 481 job offers in two days – IT consulting leads with one-third of the opportunities

Eyeware retailer <keyword id="1518229" type="PERSON" weightage="20" keywordseo="Lenskart">Lenskart</keyword> has raised Rs 135 crore in fresh capital in its third round of funding. The company has in its Series C (final rounding of early funding cycle) raised the funds as co-investment from <keyword id="141646" type="COMPANY" weightage="20" keywordseo="TPG-Growth">TPG Growth</keyword> along with Hong Kong-based TR Capital and its existing investor IDF Ventures. 
	 Interestingly, the company has raised a total of Rs 200 crore in three rounds of funding that has happened so far. In February 2013, the company had received an investment of Rs 53 crore from <keyword id="25725" type="PERSON" weightage="20" keywordseo="Ronnie-Screwvala">Ronnie Screwvala</keyword>’s Unilazer Ventures along with IDG Ventures India. 
	 
	“In TPG, we found strategic partners and advisors with proven capability to build a large consumer-centric enterprise. The TPG brand is another feather in our cap. With this new investment, we will be hiring the best talent and give them a world-class environment to innovate and solve India’s eyewear problems at a very large scale,” said Peyush Bansal, CEO &amp; Founder of Lenskart. 
	 
	Commenting on the same, Manas Tandon, Director, TPG Growth said, “TPG globally is an active investor in the Internet sector. We are excited about the evolution of Internet in India and are delighted to partner with Lenskart as our first investment in this space. The Lenskart team brings to the table an impressive focus on customer service and keen commercial instincts, thereby building a dominant position in the eyewear space, while maintaining attractive unit economics.” 
	 Currently, the company clocked in revenues of nearly Rs 100 crore and has been growing at 15% every month. Lenskart was founded in 2010 by <keyword id="2674246" type="UNKNOWN" weightage="20" keywordseo="Peeyush-Bansal">Peeyush Bansal</keyword> along with Amit Chaudhary and Sumeet Kapahi. The company claims to have grown by over 200% year on year.

Lenskart
Raises Rs 135 Crore As Fresh Capital

If you have leadership qualities and talent to create wealth, you fit the bill. E-Commerce companies like Flipkart, Amazon, Ola, Uber, Jabong, etc are hiring and offering huge salaries. If estimates of headhunting firms are to be believed, they could roll out 500 jobs with salaries of more than Rs 1 crore each this year. 
 
As per the five search firms including RGF Executive Search and Longhouse Consulting, Snapdeal, Quikr, CommonFloor, Yepme, OLX, Junglee, FashionAndYou, Hungama, BookMyShow, Cleartrip and Lenskart are among companies offering jobs with one-crore-plus salaries. 
 
Flipkart, Amazon and Snapdeal account for a huge chunk of these offers. 
 
Siddharth Raisurana, Director at ABC Consultants told Economic Times the company conducted more than 100 senior-level searches for e-Commerce companies in the past six months. 
 
The executive search division of CareerNet, Longhouse Consulting, is looking at a dozen plus mandates a month. 
 
"We have 70-80% of our business coming from e-Commerce and expect to handle 180-200 mandates this year, up from 75-85 last year," Anshuman Das, managing partner, Longhouse Consulting, told ET. 
 
"We are filling in at least one position a day at the leadership level," GC Jayaprakash, executive director at RGF Executive Search, told the financial daily. 
He added that the companies were willing to pay a premium to attract top talent that would lead to wealth creation and high valuation if they go ahead with an IPO. 
 
Meanwhile, human resource heads of e-Commerce companies also agreed on the estimates. 
 "Investors are bringing hundreds of millions of dollars. We can spend it either on infrastructure or people. And that's what they are doing - investing in people," the <keyword id="231518" type="POSITION" weightage="80" keywordseo="Human-Resource-Head">human resource head</keyword> of one of the leading online retailers, on conditions of anonymity, told ET. 
 
The financial daily also reported that the HR head of another online retailer was currently scouting for such senior level talent for several of its revenue generating core functions. 
 "This year also we are looking at 30-40% increase in hiring across the board and a corresponding increase in leadership levels," said Raj Raghavan, head-HR, <keyword id="6354743" type="COMPANY" weightage="60" keywordseo="Amazon-India">Amazon India</keyword>. He declined to comment on salaries. 
 
Even Snapdeal is looking to beef up leadership hiring. 
 
(Image: Reuters)

How about a Rs 1 cr salary package! Know how to get one

<ul><li>47-year-old Geeta Patil runs a homemade snacks business in Mumbai in partnership with her son, Vinit, and his friend, Darshil Savla. </li><li><keyword id="15957848" type="General" weightage="100" keywordseo="patil-kaki" source="Orion">Patil Kaki</keyword> received offers from four of the five sharks on <keyword id="11924074" type="General" weightage="80" keywordseo="shark-tank-india" source="Orion">Shark Tank India</keyword> S2 - <keyword id="246967" type="General" weightage="50" keywordseo="vineeta-singh" source="Orion">Vineeta Singh</keyword>, <keyword id="824423" type="General" weightage="50" keywordseo="peyush-bansal" source="Orion">Peyush Bansal</keyword>, Anupam Mittal, and Aman Gupta. </li><li>Patil Kaki accepted the offer by Bansal and Mittal who invested ₹40 lakh for 4% equity. </li></ul>In its second season, Shark Tank India has seen all kinds of pitches but that of Patil Kaki, a homemade snacks business, sent four of the five judges into a bidding war. This six-year-old business that started in a 200 square feet kitchen in Mumbai is run by 47-year-old Geeta Patil with two 21-year-old partners – her son Vinit Patil, and his friend Darshil Savla. While Geeta Patil, who runs the eponymous business, has been making and selling snacks ever since her husband lost his job in 2016, it’s the younger partners who gave it a digital spin. Vineet Patil and Savla are college dropouts, who at one point, set up and ran a small IT services business. They set up <a href="https://patilkaki.com/">a website for Patil Kaki </a>helping scale up the business from 15-20 orders a day to around 3,000 orders monthly, as per <a href="https://www.thebetterindia.com/286270/mom-sells-authentic-maharashtrian-food-in-mumbai-pune-earns-crores/">reports</a>. Her chaklis, modaks, chivdas, puran poli, and even healthy snacks like makhanas which are now well-packaged well, branded, and available online – generated sales to the tune of ₹1 crore in the first five months of FY23 – as of August 2022 when the Shark Tank episodes were recorded. They hope to end the financial year with sales to the tune of ₹3 crore. “They are the emerging faces of New India. Even two years haven’t passed (since the young partners joined the business), they’ve helped you to make a business worth ₹3 crore,” commented shark and Shaadi.com’s founder Anupam Mittal after hearing their pitch on the show. <cmsannotation type="cmsannotation" annotationid="The bidding begins" comment="subhead2" text="The bidding begins">The bidding begins</cmsannotation> Patil Kaki’s products and business impressed the judges so much that the sharks were fighting for a piece of its pie. It culminated in a bidding war that saw the startup’s valuations more than double within a matter of minutes. Sugar Cosmetics CEO Vineeta Singh was the first to offer ₹40 lakh for 10% equity that valued Patil Kaki at ₹4 crore. Soon after, Aman Gupta, the co-founder of boAt, trumped it by doubling his offer — ₹40 lakh for 5% equity, valuing it at ₹8 crore. Lenskart’s co-founder Peyush Bansal and Shaadi.com’s founder Anupam Mittal then made an offer that Kaki couldn’t refuse — ₹40 lakh for 4% equity that valued it at ₹10 crore. Gupta too matched their offer and wanted to be a solo investor in the company but the Patil Kaki founders accepted the Bansal and Mittal’s joint offer. <cmsannotation type="cmsannotation" annotationid="Inspired by her ‘aai’" comment="subhead2" text="Inspired by her ‘aai’">Inspired by her ‘aai’</cmsannotation> Geeta Patil started selling homemade food after she was inspired by her own aai or mother who whipped up tiffins for 20 people every day, <a href="https://www.thebetterindia.com/286270/mom-sells-authentic-maharashtrian-food-in-mumbai-pune-earns-crores/">reports </a>The Better India. She had been making and selling food out of passion before 2016. But afterwards, she converted it into a proper business as she had to shoulder the responsibility of running the household. “I couldn’t afford to take it easy any longer. The first order came from a family in Khar. The best part is that even today, we get orders from them regularly,” shared Geeta with The Better India. Slowly, she started getting orders from offices too. However, it was the pandemic that pushed her to prepare and sell dry snacks too. “We started by serving breakfast at the BMC office. Impressed by our cooking, the employees got a letter from the ward office, allowing us to serve them at the office. However, when the lockdown started, the problems started again. That’s when I started with snacks like chakli, chivda, etc,” said Patil on the show. To cater to the growing business, the team took up a 1,200 sq ft space in Santacruz. Patil Kaki hired its first employee in 2019 and now has a team of <a href="https://patilkaki.com/about-us/">25 people</a>. It claims that 75% of its workforce consists of women who’re working for the first time. <cmsannotation type="cmsannotation" annotationid="Investors bite into snacks businesses" comment="subhead2" text="Investors bite into snacks businesses">Investors bite into snacks businesses</cmsannotation> Foodtech industry has been one of the fastest-growing businesses amongst startups. Even public market investors have taken a shine to two snacks companies that listed on the stock markets late last year. Both the companies – <a href="https://www.businessinsider.in/stock-market/news/bikaji-stocks-why-investors-continue-to-snack-on-this-stock/articleshow/95757704.cms">Bikaji Foods</a> and Annapurna Swadisht raised ₹881 crore and ₹30 crore respectively via public offers. They also received strong investor response for the offers in the form of subscriptions, and also provided listing gains to their investors. Uniquely both these snack companies are skewed heavily towards Indian snacks. Bikaji, that’s endorsed by Amitabh Bacchan, is known for its namkeens like Bhujiya, Jalmuri and sweets like Kaju Katli and more. Kolkata-based Annapurna Swadisht is known for sweets like Gohona Bori in addition to chivdas, chips, and more. SEE MORE: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/glass-free-3d-oled-laptop-to-portable-laser-tv-heres-a-look-at-all-futuristic-imaging-and-display-tech-at-ces-2023/articleshow/96789252.cms">Glass-free 3D OLED laptop to portable laser TV: Here’s a look at all futuristic imaging and display tech at CES 2023</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/shark-tank-india-gear-head-motor-rides-high-secures-funding-from-aman-gupta-and-peyush-bansal/articleshow/96785906.cms">Shark Tank India: Gear Head Motor rides high, secures funding from Aman Gupta and Peyush Bansal</a>

An aai and two college dropouts’ home snacks biz sends Shark Tank judges into a bidding war

<ul><li>A rapidly evolving technology landscape and consumer trends will shape how businesses perform, going forward.</li><li>A report by Wavemaker titled Spotlight23 has underlined the major trends that businesses will have to adapt to this year.</li><li>Some of the most prominent emerging technologies and consumer trends to watch out for in 2023 include artificial intelligence as a service (<keyword id="6355999" type="General" weightage="20" keywordseo="AI" source="Orion">AI</keyword>aaS), generative AI like ChatGPT and increasing use of Reels.</li></ul>A rapidly evolving technology landscape and quickly changing consumer trends require businesses to evolve with them at the same pace or risk falling behind. From the way customers interact with businesses to how businesses attract customers with new innovations, several emerging trends like artificial intelligence as a service (AIaaS), and increased focus on privacy and free speech have been identified in Wavemaker’s report titled Spotlight23. While ecommerce has existed for a long time, the Covid-19 pandemic changed how Indians look at it. According to a<a href="https://economictimes.indiatimes.com/small-biz/sme-sector/covid-pandemic-hot-housed-e-commerce-growth-across-amea-region-survey/articleshow/94643528.cms"> survey</a>, 83% of Indian consumers have increased their purchases from ecommerce platforms in the last three years, and this momentum is expected to gain pace. But that is just one aspect of the evolving technology and consumer landscape. Here are other hot and emerging trends of 2023, according to the Spotlight23 report. <cmsannotation type="cmsannotation" annotationid="Generative AI to grow 10x in the next three years" comment="subhead" text="Generative AI to grow 10x in the next three years">Generative AI to grow 10x in the next three years</cmsannotation> Generative artificial intelligence (AI) solutions, like ChatGPT and Dall-E are expected to see a massive uptake in the next three years, growing from 1% of the data generated to 10% by 2025. Generative AIs like Dall-E, ChatGPT generate images and text using the inputs provided by users. For instance, ChatGPT can write articles, code or even compose music based on the inputs provided by users. OpenAI, which launched both Dall-E and ChatGPT, said that the latter was used by over 1 million users within the first 24 hours of its launch. <cmsannotation type="cmsannotation" annotationid="AI as a Service (AIaaS)" comment="subhead" text="AI as a Service (AIaaS)"><keyword id="16177246" type="General" weightage="20" keywordseo="AI-as-a-Service" source="Orion">AI as a Service</keyword> (AIaaS)</cmsannotation> The gaining traction of low-code/no-code artificial intelligence (AI) tools has given businesses an opportunity to implement off-the-shelf AI tools in their services, instead of developing an in-house AI. This brings down the costs and also allows businesses to see what works and what doesn’t. Some of the use cases of AI as a Service include optimizing campaigns, predicting customer churn and engaging customers based on their usage patterns as predicted by the AI model. <cmsannotation type="cmsannotation" annotationid="Privacy and free speech to continue to gain prominence" comment="subhead" text="Privacy and free speech to continue to gain prominence">Privacy and free speech to continue to gain prominence</cmsannotation> Users are increasingly worried about their privacy, with 66% of internet users globally worried that their identity will be stolen, according to<a href="https://www.statista.com/statistics/296700/personal-data-security-perception-online/"> Statista</a>. Further enactment of privacy-focused laws like General Data Protection Regulation (GDPR) has put the spotlight on data privacy. The Spotlight23 report states that businesses will invest in privacy-centric technologies as customers become increasingly sensitive about their data. Another aspect that has gained prominence is free speech, as evidenced by the Twitter takeover by Elon Musk, and the rise of decentralized social media platforms like Mastodon, which has seen an 800% increase in users since October 2022, with the user base now standing at 2.5 million. However, the report adds that advertisers will likely stay away from Twitter until a balance between free speech and brand safety is found. <cmsannotation type="cmsannotation" annotationid="Reel it – engagement and social commerce is evolving rapidly" comment="subhead" text="Reel it – engagement and social commerce is evolving rapidly">Reel it – engagement and social commerce is evolving rapidly</cmsannotation> Instagram Reels’ rise in popularity can be explained with this metric alone – in Q3 2022, Meta reported over 140 billion reels were played, which means over 1.55 billion reel plays every day during the quarter, or 1.08 million reels played every minute. This makes it critical for brands to create Reels to drive user engagement, according to the report. The opening up of WhatsApp Business API to everyone provides business with another opportunity to generate new leads. Many of those examples are already live – for instance, JioMart’s catalogue can be browsed through WhatsApp, allowing them to place orders and make payments. Reliance’s media arm Viacom18, which bagged IPL streaming rights, could help Jio accelerate social commerce via partnerships with brands, leveraging its user base of over 450 million. <cmsannotation type="cmsannotation" annotationid="Social commerce growth to result in increased influencer collaborations" comment="subhead" text="Social commerce growth to result in increased influencer collaborations">Social commerce growth to result in increased influencer collaborations</cmsannotation> Gaining prominence of social commerce is expected to result in an increase in brands collaborating with social influencers. According to Statista, sales through social media stood at $992 billion in 2022, and they are expected to increase to $2.9 trillion by 2026. “Influencer collaboration can boost a company's revenue. For instance, Petco worked with Gabby Douglas and used livestream shopping events to reach and engage customers,” the Spotlight23 report said. Conversational AI is also expected to further drive user engagement, with several brands like H&amp;M, Levi’s and others already using chatbots to give personalized recommendations to buyers. <cmsannotation type="cmsannotation" annotationid="VR, AR and XR to deliver a more immersive shopping experience" comment="subhead" text="VR, AR and XR to deliver a more immersive shopping experience"><keyword id="6380951" type="General" weightage="20" keywordseo="VR" source="Orion">VR</keyword>, <keyword id="11853" type="General" weightage="20" keywordseo="AR" source="Orion">AR</keyword> and <keyword id="1786062" type="General" weightage="20" keywordseo="XR" source="Orion">XR</keyword> to deliver a more immersive shopping experience</cmsannotation> Technologies like virtual reality (VR), augmented reality (AR) and extended reality (XR) are expected to enhance the shopping experience of users and make it more immersive. These technologies allow users to try on products virtually to see if they suit them or not – for instance, Lenskart has a 3D try-on feature that lets users check out eyeglasses and sunglasses virtually before buying them. Asian Paints’ app allows users to take a photo of their wall and picture how it looks with the diverse range of colours and textures offered by the company. <cmsannotation type="cmsannotation" annotationid="ONDC could realize its potential in 2023" comment="subhead" text="ONDC could realize its potential in 2023">ONDC could realize its potential in 2023</cmsannotation> During a<a href="https://www.businessinsider.in/retail/news/democratising-commerce-ondc-could-be-the-upi-moment-for-small-retailers-msmes/articleshow/95393032.cms"> panel discussion</a> in November 2022, Thampy Koshy, the Chief Executive Officer of ONDC, said that Open Network for Digital Commerce (ONDC) is the Indian government’s attempt to democratise commerce. ONDC is an open platform that allows sellers to make their catalogues visible to every buyer on the platform. Koshy likened ONDC to UPI, saying “what UPI did was to essentially streamline and democratise the payment side of it. What ONDC is trying to do is a similar kind of transformation on the transaction side of goods and services.” ONDC is currently live in 83 cities, and it has 25 network participants along with over 700 merchants onboard. SEE ALSO: <a href="https://www.businessinsider.in/budget/news/budget-2023-morgan-stanley-sees-focus-to-be-on-fiscal-consolidation-investment-led-growth/articleshow/97082715.cms">Budget 2023: Morgan Stanley sees focus to be on fiscal consolidation, investment-led growth</a> <a href="https://www.businessinsider.in/business/corporates/news/competitive-intensity-a-big-risk-for-dmart-say-analysts-after-company-misses-streets-q3-forecast/articleshow/97052145.cms">Competitive intensity a big risk for DMart say analysts after company misses Street’s Q3 forecast</a> <a href="https://www.businessinsider.in/business/corporates/news/hiring-by-it-cos-down-96-in-q3-compared-to-preceding-7-quarters-even-as-attrition-cools/articleshow/97023873.cms">Hiring by IT cos down 96% in Q3 compared to preceding 7 quarters even as attrition cools</a>

AI as a Service to free speech platforms and social commerce, these are the big emerging trends of 2023

<ul><li>Kyari Innovations claims to manufacture the world’s first smart walking stick - a tech-enabled walking stick equipped with LED lights, panic alarm, power bank, and an electrical probe. </li><li>Currently, it has a growth rate of 16.7%, with revenue of ₹30 lakh in FY 20, ₹1.2 crore in FY21, and ₹1.4 crore in FY22. </li><li>The founders walked away with a deal from sharks <keyword id="824423" type="General" weightage="80" keywordseo="peyush-bansal" source="Orion">Peyush Bansal</keyword> and Anupam Mittal – for an investment of ₹51 lakh for 6% equity. </li></ul>Whether it’s embarking on the famous Triund Trek, paragliding off the hills of Bir, or going on a jungle safari in Ranthambore, adventure tourism has certainly gained popularity among Indians. And Kyari Innovations, the latest startup to appear on <keyword id="11924074" type="General" weightage="20" keywordseo="shark-tank-india" source="Orion">Shark Tank India</keyword> S2, caters to this market by providing adventure safety gear. Founded in 2017 by sibling duo Smratika and Abhay Sharma, the Ghaziabad-based startup <a href="https://kyari.in/smart-stick-guardian/">manufactures and sells </a>Guardian - which is the world’s first smart walking stick, claimed the founders. Designed and made in <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword>, Guardian is a tech-enabled walking stick equipped with LED lights, a panic alarm, a power bank for portable charging, and an electrical probe (taser) with 10,000 volts of charge – enough to immobilise an attacker temporarily without causing serious injuries. It has a battery life of 720 hours. The smart walking stick is available in three versions, priced between ₹10,000-₹17,500. Along with the smart stick, Kyari provides accessories like a stand that can be remodelled to be used as an axe or shovel, and a wall mount and moto mount to mount the stick at home or on a motorcycle, respectively. Around 2,000 forest guards are already using the smart walking stick, claimed the founders. Kyari also manufactures ANIDERS (Animal Intrusion Detection and Repellent System) - a device that helps prevent crop raids and protect wildlife. ANIDERS has been installed in <a href="https://kyari.in/animal-intrusion-detection-repellent/#1466844053299-d3e3b352-f414">forest departments of over 20 Indian states</a>, as per the company. A basic model of ANIDERS is available for $233, or approximately, ₹18,900. The founders also <a href="https://www.linkedin.com/in/abhay-sharma-kyari/">stated on LinkedIn </a>that Kyari is recognised by NRDC (National Research Development Corporation) and accredited by ICAR, the Government of India. <cmsannotation type="cmsannotation" annotationid="A tiger encounter that made an entrepreneur" comment="subhead2" text="A tiger encounter that made an entrepreneur">A tiger encounter that made an entrepreneur</cmsannotation> Smratika and Abhay Sharma come from a family of adventure enthusiasts. As they shared on the show, growing up, their dinner conversations were dominated by discussions on animals and NatGeo. However, the idea of developing a smart stick struck Abhay after his own encounter with a tiger. “Like you sharks are sitting so close, I encountered a tiger at a similar distance and I was on foot. I was alone, and suddenly a tiger came from behind a boulder. I just froze. The tiger saw me and left but I remained frozen on the spot. That’s why I know, when you face a wild animal, you freeze - you can’t even scream,” shared Abhay on the show. Abhay Sharma, who’s a designer himself, graduated with a Bachelor’s of Technology degree in Mechanical Engineering from Amity University in 2019. He also <a href="http://www.nrdcindia.com/assets/vendor/filemanager/userfiles/Awards/Awardees_Feedback_NRDC_National_Meritorious_Invention_Awards-min.pdf">won </a>the prestigious National Budding Innovator Award in 2017 for developing ANIDERS. He’s responsible for designing the Guardian smart stick. On the other hand, Smratika graduated with a Bachelor’s of Technology degree in Computer Science from Dr. APJ Abdul Kalam Technical University in 2015. She went on to work as a software engineer with Accenture for five years. She is <a href="https://www.linkedin.com/in/smratika/">responsible </a>for Kyari’s brand strategy. Kyari earned revenue of ₹8 lakh in its first year of operations, in FY19. Currently, it has a growth rate of 16.7%, registering sales of ₹30 lakh in FY 20, ₹1.2 crore in FY21, and ₹1.4 crore in FY22, as stated on the show. It also achieved year-to-date sales of ₹75 lakh in FY23. The founders also claimed that despite spending on research and development, and drawing salaries, they’ve consistently maintained a profit margin of 30% for three years and in fact, reinvested their savings to set up in-house manufacturing. “This is great. You have to do everything on your own in India, from beginning to end. Without vertical integration, you can’t deliver quality in India, unless you scale a lot,” remarked Shaadi.com founder Anupam Mittal, after hearing about the company’s setup. <cmsannotation type="cmsannotation" annotationid="Cut-throat negotiations" comment="subhead2" text="Cut-throat negotiations">Cut-throat negotiations</cmsannotation> Namita <keyword id="174" type="General" weightage="80" keywordseo="thapar" source="Orion">Thapar</keyword>, executive director at Emcure Pharmaceuticals and Amit Jain, the co-founder of CarDekho.com, were the first ones to make a joint offer of ₹51 lakh for a 10% stake, valuing the company at ₹5.1 crore. Simultaneously, Mittal, along with Lenskart co-founder Peyush Bansal, and boAt co-founder Aman Gupta, made a joint offer of ₹51 lakh for a 12% equity stake, valuing the company at ₹4.25 crore. “You (the founders) invest in R&amp;D and are innovative and long-term thinkers. So I have to be with you in this business,” said Bansal. However, the founders stated that they couldn’t go ahead with either of the valuations because the maximum equity they could offer was 2% for ₹51 lakh - valuing the company at a whopping ₹25.5 crore. While all the sharks responded that it was too high a valuation, Gupta walked out of the deal. The other four sharks, however, kept revising their offers. In a matter of minutes, the company’s valuation rose to ₹10 crore, with Bansal and Mittal offering ₹80 lakh for 8% equity, while Thapar and Jain offered ₹51 lakh for 6%- valuing the company at ₹8.5 crore. When the founders lowered their ask –for an investment of ₹51 lakh for a 5% equity stake– and tried to negotiate further, both Bansal and Mittal made it clear that there was no room to budge since any change in equity stake would lose them money. However, Bansal and Mittal agreed to match Thapar and Jain’s offer of ₹51 lakh for 6% equity. At the same time, Thapar commented to Jain that it was clear the founders wanted to go with sharks Bansal and Mittal, and thus didn’t revise their offer further. Finally, the founders agreed to a deal from Bansal and Mittal – ₹51 lakh investment for 6% equity, valuing the company at ₹8.5 crore. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/google-to-axe-12000-jobs-ceo-sundar-pichai-says-company-hired-for-a-different-economic-reality/articleshow/97176523.cms">Google to axe 12,000 jobs; CEO Sundar Pichai says company hired for a different economic reality</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/how-to-use-quiet-mode-on-instagram/articleshow/97175190.cms">Instagram's new quiet mode is here to help you take a break from the buzz – here's how to use it</a>

This startup that makes ‘smart’ stick for adventurers walks away with a sweet deal on Shark Tank India

Indian pacer <keyword id="1627109" type="CITY" weightage="20" keywordseo="Jasprit-Bumrah">Jasprit Bumrah</keyword> has made an entry into the top-10 of the ICC Test rankings for bowlers after his nine-wicket haul in the first Test against England, the <keyword id="46227" type="ORGANIZATION" weightage="20" keywordseo="International-cricket-council">International Cricket Council</keyword> (ICC) said on Wednesday. Bumrah, who held a career-high third position in September 2019, jumped 10 spots to sit at ninth place with 760 rating points. He gained 77 points after the first Test against England at Trent Bridge. It is the first time Bumrah has been in the top 10 after late March. He is now sandwiched between <keyword id="52757" type="PERSON" weightage="20" keywordseo="Stuart-Broad">Stuart Broad</keyword> (eighth place) and Mitchell Starc (10th place). Bumrah picked 4/46 in the first innings. In the second innings, the pacer took 5/64, bagging his sixth five-wicket haul in Test cricket. The 27-year-old played a crucial hand with the bat too, making 28 off 34 balls with three fours and a six, increasing India's lead in the first innings to 95 runs. England pacer James Anderson climbed one spot to seventh on the rankings at the expense of his bowling partner Broad. Ollie Robinson (up 22 places to 46th) of England and Shardul Thakur (up 19 places to 55th) of India have also moved up in the latest men's weekly rankings update carried out every Wednesday. England captain Joe Root has overtaken his Indian counterpart <keyword id="6354486" type="UNKNOWN" weightage="20" keywordseo="virat-kohli">Virat Kohli</keyword> to be placed at fourth position in the batters' list after his Player-of-the-Match performance of 64 and 109 earned him 49 rating points. Ravindra Jadeja also moved to outright second on the all-rounder rankings with 377 rating points, seven more than Ben Stokes. England opener Dom Sibley is up four places to 52nd while KL Rahul has re-entered the rankings at 56th position with scores of 84 and 26 in the first Test. In the T20I <keyword id="2484933" type="PERSON" weightage="20" keywordseo="player-rankings">Player Rankings</keyword>, Bangladesh's Shakib Al Hasan has regained the top spot among all-rounders. Al Hasan last reached that position in October 2017. He has also gained three slots to reach 53rd among batters and moved up six slots to reach 12th position among bowlers. Bangladesh captain <keyword id="91867" type="PERSON" weightage="20" keywordseo="Mahmudullah">Mahmudullah</keyword> has gained two slots and is now in 33rd position. Fast bowler Mustafizur Rahman is back in the top 10, gaining 20 slots after taking five wickets in four matches while Mohammad Saifuddin (up 26 places to 43rd) and Nasum Ahmed (up 103 places to 66th) are among the others to make headway. Australia all-rounder Mitchell Marsh has gained four slots to reach 21st position among batters after aggregating 111 runs in the last four matches of the five-match series in Bangladesh played last week. Left-arm spinner Ashton Agar has gained one slot to reach seventh place among bowlers while fast bowler Josh Hazlewood is up 43 places to 34th position. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/lenskart-aims-to-hire-over-2000-employees-to-ramp-up-its-operations/articleshow/85235059.cms">Lenskart aims to hire over 2000 employees to ramp up its operations</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/xiaomis-cyberdog-is-a-robotic-version-of-mans-best-friend/articleshow/85233725.cms">Xiaomi’s CyberDog is a robotic version of man’s best friend</a>

India's Jasprit Bumrah enters top ten in ICC test rankings for bowlers

<ul></ul><ul><li><keyword id="5325646" type="PERSON" weightage="20" keywordseo="Ashok-Kumar-Saxena">Ashok Kumar Saxena</keyword>, who served as a director in <keyword id="2205155" type="PERSON" weightage="20" keywordseo="One-97-Communication">One 97 Communication</keyword> between 2000-2004, alleged that he had invested in the company for a 55% shareholding. </li><li><keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword> in its submission to police confirmed that such a ‘letter of intent’ was signed, but it never materialised into a ‘definitive agreement’ as Saxena ‘lost interest’. </li><li>The digital payments giant has also reportedly claimed that allegations against Paytm are attempts to harass the company. </li></ul>Ashok Kumar Saxena, a former director in Paytm’s parent company One 97 Communications, is now urging India’s market regulator to stall the digital payments giant’s $2.2 billion initial public offering (<keyword id="6354763" type="UNKNOWN" weightage="20" keywordseo="ipo">IPO</keyword>). Saxena alleges that he is the co-founder of One 97 Communications and had invested about $27,500 in the company about two decades ago. However, the company never transferred his 55% shareholdings to him, as per Saxena. At the centre of the argument is a one-page document signed by Saxena and Paytm founder and chief executive Vijay Shekhar Sharma in 2001. The document reportedly highlights that Saxena would get a 55% equity stake in Paytm's parent company One 97 Communications. The remaining 45% equity shares would be owned by Sharma. As per a media report, the former director of the company had reached out to market regulator Securities and Exchange Board of India (SEBI). According to a media report, Saxena had also reached out to Delhi police to file a complaint against the company, but no case was registered. However, Saxena has now reportedly approached a New Delhi court, urging the judge to direct the local police to register a case on his complaint. The court had ordered the police to respond and the matter will be heard on August 23, as per the media report. Business Insider was not able to reach out to Saxena immediately. The development was first<a href="https://www.reuters.com/business/exclusive-ex-director-seeks-stall-2-bln-paytm-ipo-company-calls-it-harassment-2021-08-12/"> reported</a> by Reuters. Paytm, in a legal document submitted to the Delhi Police, claimed Saxena's allegations against Paytm are attempts to harass the company, as per the Reuters report. The company has listed the dispute under 'criminal proceedings' in its draft red herring prospectus (DRHP) for its IPO. Paytm in the documentation submitted to the Delhi Police, has reportedly agreed that Saxena was one of the first few directors in the company who served between 2000 and 2004. However, a company source has denied that Saxena was the co-founder of One 97 Communications. The document was accessed by Reuters. Business Insider has reached out to Paytm seeking comments. We will be updating the copy if and when we receive a response. The digital payments giant states that Saxena did extend funds to the company, however, he gradually “lost interest”. The company also emphasised that the letter being referred above was merely a “letter of Intent” and not a formal agreement. Paytm has also mentioned this in its legal statement to the police. Saxena had started disassociating himself from the company after the document was signed and stopped attending board meetings, Paytm said in the legal statement. Therefore, the intent never reached a full agreement. Paytm in the legal document also stated that Paytm and Saxena had reached a private understanding and transferred the shares to an Indian firm. Saxena said he had never received any shares and there was no misunderstanding. "The shares and money are one thing, but I also want to be recognised as the co-founder," Saxena told Reuters. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/travel-app-ixigo-files-for-a-1600-crore-ipo/articleshow/85292327.cms" data-type="tilCustomLink">Travel app ixigo files for a ₹1,600 crore IPO</a> <a href="https://www.businessinsider.in/business/ecommerce/news/swiggy-reports-nearly-three-fold-increase-in-annual-revenue-in-neck-and-neck-race-with-zomato/articleshow/85233393.cms">Swiggy reports nearly three-fold increase in annual revenue, in neck and neck race with Zomato</a> <a href="https://www.businessinsider.in/careers/news/lenskart-aims-to-hire-over-2000-employees-to-ramp-up-its-operations/articleshow/85235059.cms">Lenskart aims to hire over 2000 employees to ramp up its operations</a>

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Lenskart aims to hire over 2000 employees to ramp up its operations

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An aai and two college dropouts’ home snacks biz sends Shark Tank judges into a bidding war

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