Namratha B Swamy

Given the changing paradigms in technology and media, we know that the next 10 years will look nothing like the last 10 years. Thanks to The Economic Times for capturing our interactive media thesis for the years ahead. As we crystal ball gaze into the future, there has been no better time to invest in India. In the last few years, we have seen the market mature across key vectors - propensity to pay, quality of talent, capital inflows, and exits. This represents meaningful upside for founders and investors in this space over the coming decade. With the incredible shifts in tech, media and gaming, there are some exciting times ahead! 🚀 https://lnkd.in/gTfYa3Kw

97

3 Comments

The One That We Had To Back. It is rare in venture to find a team so complete. As the former leadership team of NDTV, an iconic Indian media powerhouse - Suparna Singh Arijit Chatterjee and Kawaljit Singh Bedi have been battle-tested in ways that most of us can't even imagine. With over 3 decades of experience in digital media, broadcasting and media tech - the team has seeded ventures, scaled them, and navigated a publicly listed company from turnaround to profitability (stock price went up 27x and was voted Asia's Best Media Company under Suparna's leadership). Miraculously, they have the hunger and drive to do it all over again. As a VC, it is rare to come across complete teams at the seed stage with the perfect blend of business acumen, domain expertise and technical prowess.Those tend to get built over time. Compounded by unanimous positive feedback on leadership ability + startup drive and hustle - that's the rarest of the rare. We simply had to back them. Frammer AI is building on a thesis that we have long harboured. The world of media is changing so fast, eyeballs are moving digital and most importantly to social media. Formats are becoming shorter but yet brands, publishers, enterprises were using the same ol' means of content creation and targeting. Manual, tedious and imprecise. Frammer AI makes the entire process of short form video creation faster, cheaper and most importantly monetisable. And unlike other prosumer solutions - Frammer's AI is trained on some of the smartest and premium data sets available in the world - news content which is complex, dense, multi-faceted as opposed to low quality Youtube shorts. In a span of 8 months since launch, they are already integrated with several large global clients from the US, Europe, and MENA with leading domestic clients like India Today, ZEE, Acko and several others. Big Tech is already talking to them to collaborate on enterprise projects. Given the demand for the round globally, it's a privilege to be part of their journey. Lumikai Fund We can't wait for what lies ahead. Onwards and upwards! 🚀 🚀 🚀

125

19 Comments

New Report Alert: Decoding the Online Ticket Business in India & Zomato - Paytm Deal! (Zomato to buy Paytm's entertainment ticketing business for Rs 2,048 crore The acquisition of Paytm Insider, approved by Zomato's board, will allow the food delivery giant to foray into the entertainment ticketing sector, complementing its existing dining and food delivery services.) I'm excited to share that I've recently completed a comprehensive report on the dynamics of the online ticketing industry in India, with a particular focus on the strategic acquisition deal between Zomato and Paytm for Paytm's ticketing business. This report dives deep into the evolving landscape of online ticketing, highlighting the key factors driving growth and the challenges faced by industry players. I also explored the strategic implications of Zomato's acquisition of Paytm's ticketing arm, examining how this move aligns with Zomato's broader business objectives. To provide a well-rounded perspective, I included detailed financial analysis of both Zomato and Paytm, shedding light on the financial rationale behind the deal and its potential impact on both companies. If you're interested in understanding more about this significant development in the Indian tech ecosystem, feel free to reach out! Zomato Paytm Parth Verma The Valuation School #OnlineTicketing #Zomato #Paytm #MergersAndAcquisitions #IndiaTech #FinancialAnalysis

69

4 Comments

Raised $26,000,000 with just an idea Lyskraft India Pvt Ltd - the latest kid in the block! So, Mukesh Bansal is back with another startup this time with Mohit Gupta, the former CEO of Zomato's food delivery arm. In July of last year, there were reports about Bansal and Gupta raising funds for a new venture. As per TechCrunch, both of them pitched a range of ideas to potential backers like a female-focused counterpart to Manyavar and "Infosys 2.0" a presumed upgrade to a multinational IT services and consulting firm. Now finally... The news is out and we know what they are building, Lyskraft: initially a women's only marketplace for premium brands mostly focusing on Gen-Z shoppers. Recently we have seen giant e-commerce platforms launching dedicated portals to attract GenZ shoppers, like SPOYL launched by Flipkart within its app, FWD by Myntra, also we are seeing the growth of new-age startups working in this space like Virgio(Mukesh Bansal is an investor in it), Newme(recently raised $4,500,000), Absolute Brands, Snitch, Styched and many more As per Inc42's Report, India's fashion and apparel sector is projected to reach a mouth-watering $112 Billion by 2030, which will be over a quarter of the country's $400 Billion e-commerce market!! Let's be honest, anyone will want a piece of this market. As we are already aware of how crowded this space is, let's see how Lyskraft differentiates itself from others. Mohit Gupts and Mukesh Bansal, in this crowded space building a community around your product, building digital IPs, and creating experiences through videos are the ways to elevate your brand to the next level. I the founder of Elevate would love to connect and assist Lyskraft in building a community, digital IPs and help create experiences through videos, if that sounds like something that interests you would love to connect and discuss!! sources of information : TechCrunch article 2021 - https://bit.ly/49UwkLI Inc42 article - https://bit.ly/3w0SDlb #mukeshbansal #myntra #fashion #startups #venturecapital #fundingwinter #norevenue #cultfit #community #communitymarketing #socialmediamarketing #india

13

2 Comments

This is going to be a super tight-knit all-girlies coffee chat on investing tomorrow evening in Gurgaon between 5-7:30 pm. Happy to see new faces sign up already, we have the *last 2 spots left!* RSVP before the form closes: https://shorturl.at/ehrK3 <Location will be shared once you fill out the form> #women #womenininvesting #femaleinvestors #womeninVC #startupinvesting #funding #startups #venturecapital

39

2 Comments

🚀 Swiggy Set to Make Waves with ₹11,300 Crore IPO: Key Details and Market Implications 🌐 Swiggy, India's food delivery giant, is set to go public with an IPO launching on November 6, 2024, aiming to raise around ₹11,327 crore (~$1.35B). Shares will be priced at ₹371-₹390 each (around $4.64), with trading expected to start on November 13, 2024. IPO Highlights: Price Range: ₹371-₹390 per share Funds Allocation: Expanding logistics and quick commerce operations This IPO is launching amidst rising tech-driven competition in India’s market. By securing capital, Swiggy plans to advance its quick commerce capabilities, aiming to gain a strategic edge over competitors like Zomato. Market Impact: Swiggy’s IPO offers a unique investment opportunity with strong growth potential, balancing between established dominance in food delivery and quick commerce expansion. Investor Insight: With a grey market premium around ₹25, sentiment is optimistic. As Swiggy steps into the public sphere, it's poised to redefine India's fast-paced delivery ecosystem. #IPO #SwiggyIPO #Investment https://lnkd.in/eyHRRPXh

2

Q-Commerce overtaking traditional e-commerce? Currently we are seeing a big boom in terms of the different SKUs being sold in Quick commerce apps like Zepto, Blinkit, etc. - Atomberg Technologies 's fans - Sony's PS5 - Samosa, Chai and what not - Digital Gold from Jar! Zepto is in talks to raise $300m for its broader ecommerce play. While Swiggy is preparing to file for an IPO this year, incumbent Flipkart is readying its entry into quick commerce. Zomato has invested $240 million in Blinkit over the last one year. Taking a step back, the lines between quick commerce and traditional e commerce have started to become increasingly blurred with QCom pretty much catering to every needs! Also, multiple reports suggest that QCommerce can potentially become bigger than traditional e commerce in India!  Case in point : According to Goldman Sachs, the valuation of Blinkit is greater than Zomato's core food delivery biz! Non-grocery boom in Q-Commerce: Categories including beauty, toys, health and electronics are witnessing robust sales growth on quick-commerce platforms overall. While the overall base for the new categories is still small, aggressive expansion by these players is starting to ensure a dominant presence for these categories. Plus AOV is higher which also comes with better margins, making it a win-win! Case in point: Zepto - 2x sales MoM in segments such as toys and electronics accessories - Beauty category expanded 3x QoQ - ~15% of Zepto’s $1.2bn annualised gross sales currently comes from non-grocery products (Source: Goldman Sachs) For several D2C quick commerce has become the fastest growth channel as well as the platform with highest customer engagement This is definitely a positive for the consumers and the Q-Commerce players, but is everything on the up and up?   As the demand for space on quick-commerce platforms skyrockets, niche D2C cos in segments like FMCG, beauty and personal care, and health and fitness are agreeing to pay a 30-45% commission on sales, besides shelling out on advertising and discounting on these Q-Com platforms. On top of the commissions, brands are also regularly spending around 20% of their total sales on ads on the platforms, and discounting their products by about 20-25% (totaling 60-70% revenue!). This is in stark contrast to the 10-20% commission that large FMCG cos pay these platforms reflecting the intense competition for visibility. The brand's scale and comparison with competitors are crucial considerations when it comes to new listings. On the positive side, smaller D2C brands have seen 40-60% total revenue coming from Q-Commerce compared to ~10-20% from traditional ecommerce, which is surprising! Essentially, Q-com currently has a BIIIG Bargaining power against new D2C brands and can essentially make or break their businesses! Is this sustainable on the long run? #ecommerce #quickcommerce #india #zepto #businessmodel #d2c #startups #LIPostingChallenge

5

1 Comment

CLSA published a detailed research report on India quick commerce. Recommended reading. Who will be the first to create a $50-100Bn company in India internet? #Zepto #Zomato #IndiaInternet

19

Zomato's recent acquisition of Paytm’s Entertainment ticketing business for Rs 2,048 Crore is a strategic leap forward, positioning the platform to dominate both the “going out” and “eating out” markets. 𝗛𝗲𝗿𝗲’𝘀 𝘄𝗵𝘆 𝘁𝗵𝗶𝘀 𝗺𝗼𝘃𝗲 𝘀𝘁𝗮𝗻𝗱𝘀 𝗼𝘂𝘁: 1) 𝗘𝘅𝗽𝗮𝗻𝗱𝗶𝗻𝗴 𝗠𝗮𝗿𝗸𝗲𝘁 𝗥𝗲𝗮𝗰𝗵: Zomato now taps into Paytm's vast user base of 300 million, significantly widening its audience beyond its current 30 million+ users. This expansion offers a major opportunity to grow its influence. 2) 𝗘𝗻𝗵𝗮𝗻𝗰𝗲𝗱 𝗨𝘀𝗲𝗿 𝗖𝗼𝗻𝘃𝗲𝗻𝗶𝗲𝗻𝗰𝗲: Imagine a scenario where you can book a movie ticket and order snacks for the show, all from one app. Zomato could streamline this experience, blending dining and entertainment seamlessly. 𝟯) 𝗡𝗲𝘄 𝗥𝗲𝘃𝗲𝗻𝘂𝗲 𝗦𝘁𝗿𝗲𝗮𝗺𝘀: By venturing into ticketing, Zomato adds another layer to its revenue model, moving beyond its core food delivery service. With the company processing about 2 lakh orders daily and achieving a Gross Order Value (GOV) of INR 263.1 billion in FY23, this diversification could bolster its financial strength. However, challenges lie ahead. BookMyShow, commanding a 78% market share, remains a formidable competitor. Zomato will need to innovate and offer competitive pricing to carve out its place in this market. As Paytm faces struggles, Zomato’s ability to extract value and succeed with this acquisition is under scrutiny. After their successful Blinkit acquisition, can Zomato pull off another masterstroke? Time will reveal the outcome. What’s your perspective on this bold move? #startup #acquisition #zomato #paytm #entertainment #bookmyshow Source: The Arc Web

3

If you doubted the rise of India as a powerhouse, Pine Labs, a significant fintech player, is now relocating its headquarters from Singapore to India following approval from a Singapore court. This strategic shift mirrors other successful Indian startups like PhonePe, Razorpay, and Groww, embracing the trend of ‘reverse flipping’. The move signifies growing confidence in the Indian market and its potential. Key factors enabling this move include: - Favorable economic policies - Growing domestic market - Increasing investor confidence - Greater certainty of an exit at a higher valuation - Ease of accessing capital - Regulatory changes - Maturing capital markets - Cost-effective listing process All great signs for India! #India #Fintech #PineLabs #Startups #BusinessGrowth

91

2 Comments

🚨 Zepto is moving fast on flipping from Singapore to India as it plans an IPO this year It has got NCLT to merge the Singapore parent unit with Mumbai-based subsidiary Kiranakart. The flip won't require approval from RBI, according to the NCLT filing, according to Kunal Talgeri - https://lnkd.in/gk7RrEzd Why is Zepto flipping back to India from Singapore❓ Here are the reasons the company has submitted to NCLT 👇 "Address the competitive regulatory environment, risks and policies....creation of shareholder's value"

29

1 Comment

The e-commerce startup Meesho has raised $275 million in a new funding round, pushing its valuation to approximately $3.9 billion. This funding, part of a larger round expected to exceed $500 million, includes secondary transactions. Notable investors like WestBridge Capital and Norwest Venture Partners are participating in this round, joining Meesho's impressive list of backers, including Meta, Fidelity, Peak XV, Prosus Ventures, B Capital, and SoftBank. However, Meesho faces increasing competition, with Amazon India recently launching Bazaar, a special store featuring affordable fashion and lifestyle products. Despite this, Meesho's focus on an asset-light model and lower fulfillment charges has helped it capture nearly half of India’s annual 3PL e-logistics shipment. For the latest secondary coverage and trading SaxonWeber | ShareWell #secondaries #saxonweber

9

The biggest risk for #D2C brands in India is their massive dependence on OEMs / large manufacturers. Unless they start integrating backwards, will be difficult to make any real margins. There’s only so much you can do with pricing in a country like ours. Being a cost leader is one of the fail-safe moats. Brands need to start thinking about this. Fast. #startup #india

50

7 Comments

I’m excited to share insights from my recent interview with Arundathi Ramanan at CNBC-TV18, where I discussed the journey of str8bat and our vision for the future of sports technology. Key Takeaways: Roadmap for Growth: With our recent Series A funding led by Exfinity Venture Partners, we are ready to expand our product offerings and market reach. Our focus is on integrating cutting-edge technologies, including Generative AI, to enhance user experiences and provide real-time insights that empower athletes. Innovative Tech Play: We’ve launched the world’s first "smart willow" cricket bat along with Sanspareils Greenlands Pvt. Ltd., featuring IoT sensors that deliver actionable metrics like bat speed and impact analysis without cameras. This technology democratizes access to advanced training tools for all aspiring cricketers. Customer-Centric Approach: Our partnerships with Cricket Australia and Rajasthan Royals highlight our commitment to delivering value. With thousands of users benefiting from our platform, we aim to make elite-level training accessible to everyone. As we navigate the rapidly growing sports tech industry, str8bat strives to be a guiding light for innovation. Together, let’s harness technology to unlock human potential in sports! I invite you to watch the full interview for a deeper understanding of how str8bat is transforming sports training https://lnkd.in/gcDaTMWW Rahul Nagar Madhu Sudan Shailesh Ghorpade Dhruv Dhanraj Bahl Vansh Oberoi Yasuhiro Seo Vikrant Varshney Dhiraj Kumar Sinha Utsav Somani Techstars Paras Anand Greg Chappell AO MBE   #str8bat #SportsTech #Innovation #CustomerFirst #AthleteEmpowerment

74

12 Comments

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? 🤔

1

1 Comment

Next steps in India Mobility are continuing to show progress - one of the top investments that continues to show IndiaFirst #ProudInvestor #ProudVC #IndiaFirst #BestLPs

10

Interesting article by ET Prime on Softbank’s evolving investment strategy based on The Arc scoop on the Ultrahuman deal Thanks for citing us, Manu P Toms 🙏 More on what’s working for Ultrahuman and the round here - https://lnkd.in/gcQimTAS

7

1 Comment

Indian News media has undergone a seismic shift while we watched! Traditional mainstream media, once the go-to source for news, has lost ground to digital-first platforms. The recent election results coverage highlighted this transformation dramatically. Dr. Prannoy Roy and Dekoder: shining examples of the digital-first revolution. Their YouTube news channel created waves with its comprehensive, calm, dignified and real-time election results coverage. While conventional channels struggled to keep up either with too much noise or hyperbole, Dekoder's (innovative! calmness is innovation in the middle of all that noise elsewhere) approach drew in millions of viewers. This shift isn't just about technology; it's about a new ethos in news delivery. Digital platforms offer immediacy, engagement, and a level of trust that legacy media is increasingly failing to provide. The man who built the business of News Media in India with NDTV is back and is a challenger. #DigitalMedia #Journalism #Innovation #ElectionCoverage #PrannoyRoy #Dekoder #MediaRevolution

100

7 Comments