Ashwin Ramasamy

{New pod 🎤} "𝐆𝐓𝐌 𝐋𝐞𝐚𝐫𝐧𝐢𝐧𝐠𝐬 𝐟𝐨𝐫 𝐔𝐒-𝐈𝐧𝐝𝐢𝐚 𝐁2𝐁 𝐒𝐚𝐚𝐒 𝐒𝐭𝐚𝐫𝐭𝐮𝐩𝐬" This episode explores GTM strategies and learnings for US-India B2B SaaS startups. We cover everything from finding design partners in the US, scoping MVPs, figuring out what ICP to focus on, navigating the unique challenges of early PMF, GTM hiring in the US, and finally, working towards creating M&A exit options. Joining me for this discussion is Satya Ganni, an experienced SaaS founder and operator who has successfully built and sold five companies and led two acquisitions as a buyer. He is currently serving as CEO of Beamer and Userflow. Beamer is developing a cutting-edge product-led growth toolkit tailored to product leaders at SaaS and digital-first companies. They recently acquired Userflow to augment the business. TIME STAMPS: (01:15) Satya’s journey as a repeat US-India SaaS founder and operator (04:38) [Case Study: 0-to-1] Finding US design partners (11:09) Scoping B2B SaaS MVPs (15:42) [Case Study: $10k-100k ARR] Identifying which ICP to focus on - SMB vs mid-market vs enterprise (22:23) [Case Study: $100k-$1Mn ARR] Navigating the unique challenges of early PMF (27:18) [Case Study: $1-5Mn ARR] Building a US leadership team post-PMF (34:33) [Case Study: $5-20Mn ARR] Working towards creating M&A exit options  (38:46) Learning to become a proactive relationship builder YouTube - https://lnkd.in/guGQeBwA Spotify - https://lnkd.in/gAg7XeF4 Apple Podcasts - https://lnkd.in/gkYEDpED An Operator's Blog - https://lnkd.in/ggGbzSKY

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Interesting and relatable piece by Nutgraf / The Ken Praveen Gopal Krishnan in my inbox today. Few VCs balance this line well, even fewer can project an authentic narrative of what they actually do. In my observation of actions, a VC is a financier first and last, and anything else is marketing until proven otherwise. #vc #startups #india #founder

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Only TWO days left to apply for the RippleX Fellowship program! If you are a student/dropout/recent grad building a b2b software company in Canada/US, this is the program for you. In our last batch we had some amazing mentors like: - Braden Ream (CEO, Voiceflow): Mastering storytelling and navigating selling into enterprises - Rahul Parmar (Prev. Senior Director of Sales, Drata): Sales 101 – Converting pilots to real revenue, creating urgency among buyers, and best practices to manage a sales process - Nicholas Chepesiuk (CEO, OnCall Virtual Care, now part of Qualifacts): Striving towards product-market fit, utilizing creative outbound strategies, and the importance of building trust with customers in the early days - Justin Sky (CEO, Rose Rocket): Identifying venture-scale markets, learning when to pivot, and building strong organizational culture - Josh Gray (CEO, Artemis): Conducting customer validation, segmenting your ICP, and advice for young founders Apply here: https://lnkd.in/e2iAu6vi

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Can technical founders become effective CEOs? Srinath Sridhar knew he needed to step out of his comfort zone when he founded Regie.ai four years ago. Now he and cofounder Matt Millen have raised more than $20 million and landed on G2’s list of fastest-growing software products of 2024. My full conversation with Sri is in the comments.

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Sujith Nair, Beckn's WhatsApp-averse, badminton-loving chief mover and shaker, gave us a peek into the world's first # e-commerce protocol. Imagine if Colgate wanted to sell a lot of toothpaste, would it open separate exclusive stores on every street? NO! Instead, it ensures its products are available in all stores where people come to shop, and not just toothpaste. Similarly, Beckn is a way for an online business to make its products and services available on other stores (popular daily-use consumer apps) instead of setting up its own store (its own consumer app) and waiting for customers to come in droves! The Beckn Protocol underpins Open Network For Digital Commerce (ONDC) and is a universal translator for e-commerce platforms. We would normally call it the Rosetta Stone for digital services, but now we have BHASHINI 😉 . It allows disparate systems to "speak" to each other seamlessly. The Beckn Protocol has become a verb in the tech world. "Just Beckn it!" has become a common phrase among developers when discussing open-source solutions for digital commerce. In fact, we like it so much that we are using Beckn use cases as our episode artwork (instead of our normal groovy cover art) to spread the word in our own little way. Some may even argue that the yellow and black in the artwork denote open mobility networks (read taxis) 😀. The even more nerdy might catch the movie reference in the title 🎬. So, is it an app? Is it an aggregator? Is it a platform? No. It is a Super Capability - #decentralised and #open. Listen, learn and use. sujith nair | Pramod Varma | Sanjay Purohit | Shankar Maruwada | Shireesh Joshi | T Koshy | Namma Yatri | FIDE | Antler | Bingepods (Ideabrew Studios) | OpenExO | Thinkers360 | IBM Alumni | Microsoft Alumni Network | The RSA (The royal society for arts, manufactures and commerce) | World Economic Forum | Digital India Corporation | nasscom | Abhishek Singh | Nilesh | Sheetal https://lnkd.in/dydrjnbU

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Dr. Ankur Pathak is Founding Principal (investor) at London Real Ventures - 5 million subscribers & 1 billion+ views. Today we discuss building relationships with investors. ..including "silent watchers", WEBTM, investor updates, community, confidence and more. - Hands on vs hands off investors  - WEBTM triggers awareness  - Trust building with 2 mechanisms  - Confidence, leadership, learning skills  - Community you have built  - How to maintain existing relationships and value add  - Intro your investor to other founders/investors (they help you, you help them - relationship)  - How often to update the investor (I do 1,200 calls every quarter)  - What updates to an investor are conducive even when they said no  - Do heavy homework on your investor  - Who are the “silent watchers” in your life (investors, people that eventually might buy, etc) …keep moving forward while accounting for the silent watchers rooting for you - Do you look shiny as a founder  - How would your communication look like if you treat every conversation as a 10yr relationship (because it is (3yrs - 10+) so you should) Mohammad Hossein Tavangar is Director at Founder Institute and former Financial Advisor at the European Commission. Dr Ankur Pathak & Mohammad are SFGN Heads in our global executive/investor network (sf-gn.com). Dr Ankur is also a council member in our SFGAC (Super Founder Global Advisory Council) at the sf-gac.com newsletter. We hope you enjoy our chat :-)

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I was reading investor memo of #Rippling for the year 2024 and it made me think why Indian SAAS companies barring very few [**won't name them here**] don't embrace the design language of compound software? Why we don't think from the perspective of building a workflow for a user journey and plug-in that particular workflow with complementing services, and in turn increasing the TAM and ARPU??? I would appreciate your comments and also name of Indian SAAS companies who have embraced design language of compound software. #rippling #TAM #ARPU

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This post from Vaibhav Domkundwar beautifully shows how surviving long enough can position a startup to take advantage of an eventual tailwind. When we invested in Yulu, no one had a clue that Quick Commerce will become the next commerce phenomenon in the country after payments. Because Yulu intelligently survived, kept improving the product and is capital-efficient enough to be agile to market needs, it’s now befitting from QC tailwinds. Reminds me of what the Rippling founder once said - as a startup, just survive 10 years and the odds are that you will end up succeeding.

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From Startup Vision to National Impact: Lessons from Aravind Sanka, Co-founder of Rapido I recently had the privilege of speaking with Aravind Sanka, co-founder of Rapido, India's leading bike taxi platform. Aravind shared profound insights into their entrepreneurial journey, highlighting key milestones and challenges that shaped Rapido into what it is today. It was impressive to see after all the success Rapido has achieved, Aravind had arrived in Rapido Auto, reinforcing the need for their product to save time and money in transit. Here are a few takeaways from the conversation. Navigating Early Challenges with Strategic Focus Starting in Bangalore, Rapido faced the typical hurdles of a nascent startup: proving market viability and securing initial funding. What set them apart was their strategic focus on perfecting consumer metrics and fostering organic growth. By concentrating efforts in Bangalore for the first few years, they demonstrated significant consumer adoption and operational efficiency, paving the way for future expansions. Overcoming Investor Skepticism through Results Aravind candidly discussed the challenges of fundraising, especially when the concept of bike taxis was still nascent in India. Despite initial rejections, Rapido's commitment to showing tangible results and strategic timing paid off. They secured investments globally from places like Taiwan and Hong Kong before gaining local traction with investments from Nexus Venture Partners and WestBridge Capital. Addressing investor concerns, such as market size and demographic reach, was crucial. Timing also played a role; as other ride-hailing giants faced diversification challenges around 2019, Rapido emerged as a focused alternative in India's market. Adapting and Innovating in Times of Crisis The resilience of Rapido was further tested during the COVID-19 pandemic when their business temporarily plummeted. However, instead of retreating, they pivoted swiftly, launching auto-rickshaw services and leveraging their technology to meet evolving customer needs. This agility not only sustained them through the crisis but also strengthened their reputation as innovators in the mobility sector. Today, Rapido continues to innovate, focusing on enhancing user experience and expanding their footprint in tier 2 and tier 3 cities where their services are transforming local transportation dynamics. Aravind's journey with Rapido underscores the power of resilience, strategic vision, and unwavering commitment to solving real-world challenges. #StartupJourney #Entrepreneurship #MobilityInnovation #ImpactfulLeadership #StartupIndia #Kalaari #Rapido

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Commoditization of AI models Yesterday evening I had the pleasure of watching Aravind Srinivas' (founder of Perplexity) interview with Aarthi Ramamurthy and Sriram Krishnan . It's a great interview and I would recommend AI founders to watch it if possible. https://lnkd.in/gnM2NeS8 Couple of things that stuck me from the interview: 1. Aravind believes in the commoditization of AI models in the long run. His take his firms like Perplexity which focus on user problems and solve for it using relevant models will win. Perplexity does it quite well, do check them out if you haven't already. This is something that AI entrepreneurs should think about. Creating foundational models is freaking expensive! and for conservative capital allocators like us it is too risky a bet (not betting on AI is even riskier 😅, I guess we need to learn more) I am going to tag the platform Guru and distinguished IIMB alumnus Sangeet Paul Choudary for his take on this. 2. The initial employees (5-10) have to be truth seekers rather than social affirmers(?) It was great hearing him talk about the culture at Perplexity of seeking the truth through open conversations and arguments on Slack rather than provide positive affirmation. I think it's something that every founder should strive for. Truth will prevail in the longer run. This works in technology, finance, politics, society, anywhere. (Satyamev Jayate is true in itself!) But to be able to have an open conversation, the founders need to have depth themselves. This is something that I feel the Indian ecosystem lacks, as most of the founders seem to be managerial in nature. I find them shifting to jargons rather than simplicity when questioned deeper. (By the way this is a classic test to check whether someone really knows it, people who know what they are talking about will make it simpler, those who don't take the cover of jargons to increase complexity and portray intelligence) I understand my analysis could be biased due to self-selection, and I would love to be proven wrong. It's pretty cool that Aravind chose Larry Page as his favourite entrepreneur due to their common background of coming from academic research to entrepreneurship. What I definitely don't agree with Aravind on The idea that luck doesn't play a role in outcomes. Successful people generally attribute success to their hard work/smartness / enterprise without understanding their privilege. For e.g. A smarter/more hardworking/more enterprising Dalit girl from Bihar will never have the kind of opportunities that I had as a Tam Bram born in a lower-middle class but very well educated family in Chennai. One has tried to solve for it using our Sakhi Scholars programme, which supports gifted girls from underprivileged communities to achieve their dream through financial support. On a lighter note, Aravind is a 2017 IIT-M alum and has already built a $8 billion company, what the hell am I doing with my life? 🤔

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When you find a practical use of AI in an area that has strong tailwinds in the India growth story, you know this is a venture that has a high potential not just for value creation but for job creation in the country. Delighted to back TraqCheck founders Jaibir Nihal Singh, Armaan Mehta and @rishabh jain as they make it easier for over 200 corporations to embrace the new way of work. Traqcheck's Ai-enabled background checks of employees is way, way faster and far more reliable than traditional methods of background verification. Pankaj Bansal (पंकज बंसल)Karann Mittal Danish Dogra Aman Khan Yukta Kelkar Atreyi Dass

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Revenue to valuation multiple is useless for private startups. You invest now for future growth expectations in 1-2yrs.

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Rebalance is India's first angel community that's 51% women with 27 investments across fintech, biotech, consumer, drones, Gen AI, deeptech healthcare, climate, energy, edtech and more. 🔥 Aishwarya is hosting a limited-seating, candid chat for women who invest in startups (would like to invest with Rebalance) and for women who want to learn about startup investing. No question is too trivial or small, this is a safe space to ask anything about startup investing! When: 26 May 2024 [Sunday] Where: Somewhere in Delhi ☕ Timings: 4:30 pm - 6:30 pm 2 days to go!! RSVP here: https://shorturl.at/EoYLN If you're already an investor or not based in Delhi/Gurgaon - you can directly sign up here to be part of the investing community: https://lnkd.in/g7taCdkc

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Honored to be featured in YourStory Media’s spotlight on the 15 founders making strides in India’s entrepreneurial ecosystem! ✨ This recognition is a testament to the incredible support from our amazing team, mentors, and partners. Your encouragement and belief in our vision have been instrumental in our journey. A big thank you to everyone who has been part of this adventure—your contributions have truly made a difference. Shradha Sharma || YourStory Media || Impactful Pitch® || instapitch.io Read more about it here: https://lnkd.in/dkP9J7mR #impactful #startup #india #startups #investments #funding #fundraising #venturecapitalist #venturecapital #impact #global #pitchdeck #business #ai #generativeai #entrepreneures #entrepreneurship

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I built a 4 step framework to understand the VC business. Access → Picking → Entry → Exit. It works for all types of VC’s irrespective of their size, industry focus & geography. Let us dig deep. 1. Access – Is the next Sachin Bansal coming to pitch to you? If not, it is NOT worth being in this business. Unlike the stock market, where anyone can open an account and start buying, in venture capital, you risk falling into the trap of adverse selection. This can significantly impact your IRR. To avoid this, it is essential to make sure the top 1% founders are pitching to you and you are seeing 80% of the deals in the market. 2. Picking – You receive 400 applications every month. Congratulations Most VC’s proudly flaunt this in their pitch decks – but are you actually seeing all 400 or just the ones referred to you. What if the next Sachin Bansal filled your application form but you never saw it? So seeing everything is a must but it is only the first step. The real challenge lies in picking the right market and founders that align with your investment thesis. 3. Entry – You Choose the Asset, But the Asset Also Chooses You. You might excel at sourcing the best opportunities and making the right picks, but if the founder doesn’t choose to take your money, all that effort is in vain. Without a strong brand, even if you nail steps 1 and 2, you’re still at risk of missing out on the top deals, which can ultimately lower your IRR. 4. Exit – The Final and Most Crucial Step After making 20, 30, or even 50 bets, the ultimate question is: What’s the exit math to ensure a strong return for your investors? How much ownership do you need, and what are the realistic odds of achieving the returns necessary to justify those investments? This is where most VC’s go wrong. Ultimately, you are only as good as your last deal. You have to track and make sure you are getting better at each of these – every quarter just like a start up would. If you’re an LP evaluating a fund, the important questions to ask are – 1) Are you seeing the best deals in the market? What are you doing to make sure you continue to see them. 2) How do you pick companies? Show us an investment memo? 3) Have you lost any deals, and if so, why? Found this useful? Let's continue the discussion in the comments. #vc #venturecapital #investing

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📣 Announcing: Fastrack to Residency through a Warm Intro If you are an exceptional founder (individual or team) that’s just starting up, Nitin Sharma & I are spending 2 full days next week at the Antler India Residency office (in Bangalore) on Aug 1st & 2nd to directly talk to you!    The only twist - you need to reach us through someone who knows you - and knows us too! Why are we doing this - we announced last month that we are investing $500k in 20 companies (amounting to $10Mn in the next 6 months). This is our endeavour to deliver faster and bigger on this promise!  What we promise - is a decision into the Residency within 24 hours of us meeting you (over one of those 2 days). Here’s how it will work -  (1) Find someone in our networks (cue: some of them would have shared this post on their LinkedIn / Twitter) or would have engaged with us in the past   (2) Show us you are super resourceful :) Ask them to email us / Whatsapp us / tweet to us / message us on LI - any of the Antler team members that they know (there’s 18 of us!) - to give a warm intro to you. Convince them to write at least a good line or two about you :)   (3) Send us your best pitch deck once we connect with you (4) All shortlisted individuals and teams (best of the best) will get a direct slot with Antler India on Aug 1/2 to meet us IRL  (5) You will get a decision to get into the Antler India Residency (for a $500k commitment) before Aug 3rd! What about the other cities - Rest assured, we plan to do this in NCR and Mumbai very soon! Looking forward to meeting many of you exceptional builders next week!

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VC is not rocket science but the high volume of information and the constant context switching makes it extremely difficult to manage efficiency & time. For this, I have realized that the right technology stack can be a game changer. Below are the key tools we have been using to streamline operations - sourcing, evaluation, and portfolio management. I would love recommendations on tools that might have helped others improve efficiency. 📰 Sourcing & Evaluation:- ▶ LinkedIn - Linkedin Premium & Sales Navigator are a must have to identify new founders building. ▶ Tracxn (Research Database) - With an increasing number of features, Tracxn has become the quickest go-to research tool. ▶ Taghash (CRM) - An easy to use and comprehensive CRM can save at least 1-2 hours a day. ▶ Otter.ai (Notetaking) – Seamless note taking and summary tool helps keep information organized. ▶ Phantom Buster (Lead Gen & Management) – For mass reach outs and streamlining reach outs based on key words. 📩 Communication & Co-ordination:- ▶ Calendar – I am obsessed with calendar management. While Calendly or another tool can be helpful, I use a simple google calendar to plan and colour code each day carefully. ▶Zoom – Has been instrumental in reducing travel time at least for initial due diligence. ▶ Substack – We use it for our fortnightly newsletter for mass communication and sharing industry insights. ▶ Intuit Mailchimp – More intimate communication and reporting requires carefully curated contact list. We have found mailchimp to be helpful here. 🗃 Reporting:- ▶Dropbox DocSend – Has helped in avoiding multiple email threads with different attachments while still ensuring transparency.

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"Great things are not done by impulse, but by a series of small things brought together" GalaxEye announced investment by MountTech Growth Fund - Kavachh, a $60 million Category-II AIF, has made its inaugural investment in GalaxEye’s $10 million Series A fundraising round. GalaxEye, founded by a dynamic and skilled team from IIT-M, is on a mission to revolutionize space-based surveillance with cutting-edge, multi-sensor (SAR and MSI) fusion technology. With the first LEO satellite launch slated for mid-2025, GalaxEye aims to meet critical security and commercial needs, showcasing the power of innovation driven by purpose and precision. This partnership exemplifies our commitment to supporting trailblazing solutions that address pressing challenges in surveillance and security. GalaxEye’s ambition to leverage SAR (Synthetic Aperture Radar) and MSI (Multispectral Imaging) fusion for space-based surveillance aligns well with the evolving demands of both defence and commercial sectors. Their innovative approach with LEO #satellite constellations promises to address critical security and monitoring needs with unmatched precision and real-time insights. Backing a driven and skilled team like GalaxEye, rooted in a legacy of innovation like Avishkar Hyperloop, speaks volumes about the fund's dedication to fostering groundbreaking technology. This partnership not only reflects the fund's commitment to advancing national security infrastructure but also highlights a forward-looking vision that appreciates the convergence of innovation and practical impact. The anticipated satellite launch in mid-2025 is set to be a milestone in this collaborative journey, and it will be exciting to witness the tangible outcomes of this strategic alliance! #space #venturecapital #investment #india #strategic https://lnkd.in/ggZuW2xs

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Like to order deliveries from the comfort of your own home? Zepto's recent $665 million funding will now allow the company to set up even more store across India to serve you better. Read all about it only in my new article at Entrepreneur India. . . . Follow and connect for more industry news and updates . . . #News #Update #Zepto #Funding #Investment #EntrepreneurIndia #AdityaPranMahanta https://lnkd.in/gYvATrUE

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