Tag: Startup

Maruti Suzuki invests ₹1.99 crore in AI and machine learning startup Amlgo Labs, to own 6.44% equity

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Maruti Suzuki on Saturday, March 23 said that it has invested over ₹1.99 crore in technology-led startup Amlgo Labs Private Ltd. The carmaker said it will own an equity stake over more than 6.44% in the startup.

Amlgo Labs operates in the area of cloud engineering, data analystics, artificial intelligence and machine learning, to assist companies in decision making that is driven by data.

The company in a stock exchange filing said that the investment is being made via the Maruti Suzuki Innovation Fund, an initiative to undertake strategic investments in startups that exhibit high levels of technological innovations. Prior to this, the company had also invested in Sociograph Solutions Private Ltd in June 2022.

“Our investment in Amlgo Labs Private Ltd will help us further strengthen quality of new models, using advanced analytics and machine learning,” said Hisashi Takeuchi, the Managing Director and CEO of Maruti Suzuki.

Meanwhile, the founder of Amlgo Labs, Ajay Yadav, said the collaboration with Maruti has proven fruitful for the startup, helping it augment and scale its operations. “Combining our expertise in Data Analytics, Machine Learning and Artificial Intelligence based solutions, with mentorship and networking opportunities offered by Maruti Suzuki, we will be able to further refine our offering,” Yadav said.

On another note, Maruti Suzuki, which was about half the size of its Japanese parent—Suzuki Motor Corp—about ten years ago, has not only overtaken its parent in market valuation but also has overgrown two-fold. As of Friday, Maruti Suzuki, the country’s largest automaker, commands a market capitalisation of $46.9 billion, against Suzuki’s market cap of $22.1 billion, Bloomberg data shows. Maruti overtook its parent’s market cap for the first time in January 2015.

Maruti Suzuki shares ended 3.32% higher at ₹12,304 apiece on Friday, March 22. The stock has gained 47.3% in the past year.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

‘Start-up toh bohot log launch karte hain…’: PM Narendra Modi’s veiled dig at Rahul Gandhi

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Prime Minister Narendra Modi on Wednesday took a veiled dig at Congress leader Rahul Gandhi at the ‘Startup Mahakumbh’ in the national capital and said that many people launch startups, including in politics.

“… Start-up toh bohot log launch karte hain, aur politics mein toh zyada. Baar baar launch karna padta hai. Aap mein aur unme fark yeh hai ki aap log prayogsheel hote hain, ek agar launch nahi hua to turant doosre par chale jaate hain… (Many people launch startups, and it happens more in politics. They have to launch it repeatedly. The difference between you and them is that you are experimental; if one launch doesn’t happen, you quickly move on to the next one),” PM Modi said.

#WATCH | Delhi: At the ‘Startup Mahakumbh’ at Bharat Mandapam, Prime Minister Narendra Modi says “…Start-up toh bohot log launch karte hain, aur politics mein toh zyada. Baar baar launch karna padta hai. Aap mein aur unme fark yeh hai ki aap log prayogsheel hote hain, ek agar… pic.twitter.com/hoIeeiRtfB

— ANI (@ANI) March 20, 2024

He said that the ‘Startup Mahakumbh’ is of great importance, especially when India is working on the road map of Viksit Bhart 2047.

“In the last decade, we have seen how India has made its mark in the IT and software sector,” he said, adding that people are now seeing the trend of innovation and start-up culture in India.

On the ‘Startup Mahakumbh’ taking place at the Bharat Mandapam just weeks ahead of the 2024 Lok Sabha elections, PM Modi said, “Your team is organising such a big event here… Generally, the businessman’s mind thinks that it is the election year, let it be, we will see once the elections are over and a new government will be formed. But you are organising such a big program even after the elections have been declared. This means that you know what is going to happen in the next five years.”

The Prime Minister said that while taking a stroll along the stalls and watching various inventions, he felt the vibe that “India’s future holds many unicorns and decacorns.”

To promote startups, the country has taken the right decisions at the right time, he noted.

“If today India has emerged as a new hope, a new strength for the global start-up space, then there has been a well-thought-out vision behind it,” he said.

#WATCH | Delhi: At the ‘Startup Mahakumbh’ at Bharat Mandapam, Prime Minister Narendra Modi says “Today, the energy & vibe is amazing. Strolling along the stalls and watching your inventions, I could feel the vibe that India’s future holds many Unicorns and Decacorns. For… pic.twitter.com/sdGhtWUN2g

— ANI (@ANI) March 20, 2024

The central government’s ‘Startup India’ initiative provided a platform for innovative ideas and worked towards connecting them to funding sources, he asserted.

PM Modi said such efforts helped the youth from Tier 2 and Tier 3 cities around the country to incubate their ideas.

He noted that the country today can proudly say that our startup ecosystem is not limited to megacities and youth from small cities are pioneering the revolution in the startup ecosystem.

In today’s times, startups are being launched across different sectors in India.

“From agriculture to space, we can find Indian startups everywhere. The space sector, which was once in the shackles of the government, now has over 50 startups. The world sees the capability of Indian youth. Trusting their capabilities, we decided to fuel their aspirations… We have transformed people’s thinking; instead of being a job-seeker, the youth is now keen on becoming a job-provider,” he said.

Prime Minister Modi shared that India is the third largest startup ecosystem around the world as there are more than 1.25 lakh registered startups which generate employment for over 12 lakh people in the country.

Moreover, he added that the country has over 110 unicorns and Indian startups have registered over 12,000 patents. He further requested those present to get their patent as early as possible.

Under the ‘Startup-20’ initiative, the country has attempted to bring together various startup ecosystems from across the globe. At Bharat Mandapam, startups were not only included for the first time in the Delhi Declaration of the G20 Summit but were also considered natural engines of growth, he noted.

PM Modi further stated that over 45% of startups in the country are run by women.

“During the G20 Summit, leaders from various countries were awestruck by our UPI,” PM Modi stated, adding that it has strengthened our efforts for financial inclusion.

UPI has helped the country to bridge the rural-urban divide, he added.

The Prime Minister further shared how he took the help of artificial intelligence to solve a problem.

“There was a time when people used to ask for my autographs, or photographs and selfies with me. So, I took the help of Artificial Intelligence to solve this problem,” he said.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

EXCLUSIVE | Visa CEO says he is looking to invest in AI startups in India

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Visa CEO Ryan McInerney acknowledges the transformative impact of Indian fintechs on global payment systems, particularly in the realm of QR payments. Speaking at the Rising Bharat Summit 2024, McInerney highlights how India’s innovative approach has paved the way for a paradigm shift towards QR as a preferred form factor, reshaping the future of transactions worldwide. Mcinerney is also optimistic about generative AI and is looking to invest in generative AI startups in India.

Below are the edited excerpts:

Q: How have Indian fintechs changed Visa?

A: Indian fintechs have opened up our minds to the power of QR payments. We are looking at other markets around the world where QR might be the form factor that users prefer. We don’t need cards, we will use QR and that will be the form factor that will then allow people to tap into the Visa network as an example. And that very much came from the inspiration of what we have seen happen here in India.

Q: Let’s talk about the UPI moment in India. It’s pre-UPI and post-UPI; that’s how the digital payment network is being seen. Do you see UPI as a competition? Or do you see UPI as a collaborator?

A: What’s happened with UPI in India is nothing short of remarkable. It has accelerated financial inclusion in this country by more than a decade. The speed, the growth, the adoption, and the user experiences are nothing short of remarkable.

We see it as an opportunity for Visa, and I believe that we can help build on the financial inclusion that has happened as a result of UPI and help turn that into financial empowerment by working with the banks in India and the ecosystem in India to create new credit products. To help people grow up the credit ladder, help them build wealth, and help empower them financially, as a result of the great work that’s happened with UPI in India.

Q: In the next five years, how is Visa going to operate in those spaces you talked about? How do you intend to leverage the advantage in that?

A: With the digitisation of payments in India, there’s still more than a trillion dollars in cash. We still have an opportunity to partner and to work to help digitise that cash. But then building on the consumer payments that you and I make every day, there’s enormous opportunity in B2B payments and in government payments. There’s an enormous opportunity in transit systems. We have been involved in more than 750 transit systems around the world, helping them operate more efficiently by digitising the payments.

We see remittances as a tremendous opportunity. We have built out a platform, Visa Direct, where we have 8.5 billion endpoints, cards, accounts and digital wallets, all around the world. We’re putting that platform to work to make remittances in and out of India and all over the world. This is the biggest corridor for remittances in the world and it makes them more transparent, faster, cheaper and has a better user experience for both the sender and the receiver. That’s a tremendous opportunity for us to continue to help and add value here in India.

Q: Talking about innovation, Visa has decided to put together a war chest of $100 million to look at nurturing AI across different startups. Take us through the idea behind what you intend to do. Is that going to be a focus area for Visa here in India as well?

A: We were looking for companies that were using generative AI to create new commerce experiences. We wanted to find them and nurture them. We have a program called Fintech Fast Track to bring them onto the Visa platform. We said, why don’t we put together an investment fund so that we can help find some of those entrepreneurs, those people who are dreaming big about how they could use generative AI to transform commerce, and why don’t we invest in them.

We are big believers in the power of AI. We have been a leader in AI for 30 years, using predictive AI to build our products and services and secure our network. We have been very aggressive in adopting generative AI in our company. We have made all of the tools and co-pilots available to our employees around the world.

Q: How much have you invested on that side?

A: I couldn’t give you the number. But if you went and talked to any one of our employees in India around the world and said, tell me about what Ryan’s been talking to you about generative AI—every team in Visa is expected to have a roadmap and a plan of how they’re using generative AI to make their function more effective and efficient—finance, HR products, obviously technology.

For the full interview, watch the accompanying video

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Verlinvest explores selling part stake in Danone and Deepika Padukone backed Epigamia

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Belgian investor Verlinvest, the largest external shareholder in Epigamia, is looking to sell a part of its stake in the flavoured Greek yoghurt brand, which is also backed by French dairy major Danone and Bollywood actress Deepika Padukone, multiple industry sources in the know told Moneycontrol.

“This proposed deal is a combination of primary and secondary sale of shares. Verlinvest, the biggest shareholder, wants to dilute part stake and take some chips off the table. It holds 30 per cent plus stake in the firm,” said one of the persons.

“Additionally, a primary component is also being planned as Epigamia looks to fund the growth of new categories like milkshakes and deserts,” added a second person.

In India, the brand which is operated by parent Drums Food International, competes with the likes of Nestle, Mother Dairy and Amul.

A third person told Moneycontrol that an investment bank has been roped in for the transaction.

“Early feelers have been sent to private equity funds. In the last round, which was in mid-2022, Epigamia was valued at around Rs 1,200 crore. The business has turned around in recent times,” the person elaborated.

A fourth person familiar with the deal said, “During the course of such transactions, queries can also come in from some strategic players who may not be averse to picking up a minority stake. As of now, there is no intention of a sale and it’s only a fundraise.”

The likes of ITC and Marico have picked up minority stakes in target firms earlier.

All four persons above spoke to Moneycontrol on the condition of anonymity.

Email queries sent to Epigamia went unanswered at the time of publishing this article, despite reminders. This article will be updated as soon as we hear from the firm.

When contacted, Verlinvest said it could not comment at the moment.

Verlinvest, a consumer sector-focused and family-owned investment holding firm, took an early bet on Epigamia in 2017. Recently, the investor made a complete exit from listed player Sula Vineyards via a block deal.

In March 2019, Deepika Padukone through her investment firm KA Enterprises invested an undisclosed amount in the firm.

Later in September 2019, the investment arm of Danone led a Rs 182 crore investment in Epigamia.

In June 2020, there was a top-up round as the firm raised Rs 40 crore from Danone Manifesto and Mousse Partners. Then in 2022, Epigamia raised debt funding of Rs 35 crore from Grand Anicut.

A taste of Epigamia

Established in 2015, Mumbai-based Epigamia is present in segments ranging from yoghurt, curd and beverages to milkshakes, smoothies and kheer.

According to reports, the brand is retailed across 20,000 touchpoints in more than 30 towns as of December 2023

Last year, the firm announced that Rahul Jain, cofounder and COO, was elevated as CEO with Rohan Mirchandani, former cofounder and CEO, moving into the role of Executive Chairman.

According to a Reuters report dated May 17, 2023, the yoghurt maker aims to “grow its revenue 50 percent to touch $36 million this fiscal year to April 2024, with plans to launch products in the Middle East market by 2025-26.”

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Review | MetaShot VR Cricket Bat — how’s it a game changer for cricket enthusiasts

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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For any cricket fan, the dream of stepping onto the field, facing a searing yorker, and sending the ball sailing over the boundary is a powerful one. But can you imagine doing that from the comfort of your bedroom? The Bengaluru-based gaming startup MetaShot claims to make that dream a virtual reality with its recently launched MetaShot VR Cricket Bat or MetaShot Smart Bat, a bat that simulates sensations from both a console and a real bat.

Gameplay

Gone are the days of button-mashing cricket games. MetaShot thrusts you into the heart of the action. The cricket bat itself is light and responsive, and tracks every swing to near perfection, translating them into powerful drives and delicate flicks with impressive accuracy. The haptic feedback is a game-changer, mimicking the satisfying thwack of willow on leather and the ground-shaking tremor of a big six. Each shot feels impactful, urging you to perfect your technique and master the art of timing.

The game itself offers a variety of modes, from practice nets to full-fledged matches against AI opponents. Interestingly, AI bowlers are no pushovers, adapting their tactics and exploiting your weaknesses, keeping you on your toes throughout the match.

VR Functioning

While the Metashot primarily uses your TV screen for visuals, the VR integration adds a subtle yet significant layer of immersion. Dodging bouncers feels more instinctive, and footwork becomes crucial as you judge the line and length of the delivery. The VR experience isn’t full-fledged, but it enhances the overall feeling of being “in the game” without requiring a dedicated headset. 

It would take some time to adjust to the functionality as you adapt to the movements, reactions and the overall gameplay. Having tried a couple of advanced to highly sophisticated VR devices in the past, Metashot’s VR capability seems fairly impressive, if not completely perfect and high-end. 

Connectivity and Experience 

Metashot comes with the quintessential VR cricket bat and a USB-C Type cable to charge it with. It also comes with a cable to connect your TV with your mobile phone or Tablet, which needs to be plugged in the entire time you are playing. This seemed to be a little extra as a step, in times of seamless and wireless connectivity.  

The setup was tedious in the start and seemed a little complex for a first-time user, who might not be very tech-savvy. In a time where people are used to the plug-and-play capability of Playstations and Xbox-es of the world, this might seem to be a bit too much. 

Future of VR Device Gaming

Metashot is a glimpse into the future of VR device gaming. Integrating physical controllers with virtual environments creates a unique and engaging experience that transcends traditional gaming. As VR technology evolves and becomes more affordable, I expect to see this trend explode, with devices for various sports and activities blurring the lines between reality and simulation.

Verdict

The Metashot VR Bat isn’t just a novelty toy; it’s a genuine game-changer for cricket enthusiasts. The immersive gameplay, responsive bat, and haptic feedback combine to create an experience that’s both fun and challenging. While the initial connectivity might be a little daunting, the experience later covers up for it. If you’re looking to step out of the stands and into the crease, the Metashot VR Bat is a must-have.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

NIIF invests $25 million in a Bengaluru investor that backs RenewBuy and Capital Small Finance Bank

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The seven-year-old Amicus Capital, which invested early in companies like the insurance aggregator RenewBuy and microfinancier Capital Small Finance Bank, has raised another ₹207 crore (about $25 million) from the National Investment and Infrastructure Fund (NIIF).

The Bengaluru-based private equity firm currently has $259 million worth of assets under management across two funds. Capital Small Finance Bank was listed at an 8% discount to its IPO price on February 14.

The latest fundraising will take Amicus’ second closer to its target of $200 million, which will be invested in growth-stage companies from speciality manufacturing, technology and business services to healthcare and financial services, a press statement said.

“Including NIIF’s commitment, our second fund has raised $171 million (about ₹1,415 crore) as of today,”  Mahesh Parasuraman, the co-founder and partner at Amicus Capital, said. This investment from NIIF will come from the $100 million fund of funds set up in 2021.

The state-initiated NIIF, which has committed over $4.9 billion in investments through four funds, has bet on at least 50 companies in the private markets. NIIF is also backed by the Asian Infrastructure Investment Bank (AIIB) and the Asian Development Bank (ADB), among others.

Some of NIIF’s investments include a new airport in Andhra Pradesh and a highway from Jammu to Udhampur, among others.

Private market investments are those that aren’t traded on any public exchanges.

ALSO WATCH: The Rise of India’s Private Equity and Credit Market

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Attentive AI secures $7 million in series A funding to propel growth of Accelerate and Beam products

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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AI SaaS startup Attentive AI has bagged $7 million in its Series A round led by Vertex Ventures Southeast Asia and India. The round also saw participation from existing investors Peak XV Partners and InfoEdge Ventures. The proceeds will be used to enhance product development, sales, marketing, and customer success initiatives, focusing on its recently launched products, Accelerate and Beam AI.

Shiva Dhawan, co-founder & CEO of Attentive.AI, shared more about the company’s growth strategy with CNBC-TV18.

Dhawan said, “We are expanding our sales team across North America, as we scale Accelerate and Beam to more customers.”

He added, “Our plan is to double down on these two products. These two products are serving—Accelerate is serving a $200 billion outdoor services industry, and Beam is serving a $3 trillion construction industry. Both of these products have a very large addressable market to serve. And our goal is to just keep our heads down, execute, and grow as much as possible on these products.”

Read Here | Supertails, Khyaal secure funding for business expansion and innovation

makeO, the parent company of dental tech startup Toothsi and Skinnsi, recently raised $16 million in A funding round led by 360 ONE Asset and others. The fresh capital raised in this round will support the company’s plans to expand its geographic footprint and scale its experience centers. To talk about the company and its plans ahead is orthodontist-turned-entrepreneur Dr Arpi Mehta, the founder and CEO of makeO.

Amazon Web Services recently announced the ‘AWS Space Accelerator: India’, a technical, business, and mentorship opportunity designed to foster startups focused on space technology. The program aims to accelerate their development with support from, T-Hub, and Minfy. CNBC-TV18 spoke to Clint Crosier, Director of Aerospace and Satellite at AWS to talk about the program.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

‘There is mental illness in every home today,’ says co-founder of a mental health startup

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The COVID-19 pandemic normalised conversations around mental health but access to care is still an issue.

“Around 200 million people suffering – today it is in every home, whether it is domestic violence, abuse, digital addiction, relationships being strained or any kind of mental illness,” Neha Kirpal, the founder of Amaha, an Indian platform for therapy, psychiatry and counselling services.

She was speaking to CNBC-TV18 on the sidelines of ‘Future Female Forward – Season 2′.

As per the World Health Organization (WHO), the estimated burden of mental health problems in India is 2,443 disability-adjusted life years per 10,000 population, while the age-adjusted suicide rate for is 21.1 for every one lakh population.

Between 15-29 age group, suicide is the fourth leading cause of death. The estimated the economic loss due to mental health conditions at $1.03 trillion between 2012-2030.

Neha Kirpal, winner of the President’s Nari Shakti award, joined Amaha as a co-founder in 2019. The organisation was founded in 2016 by Dr Amit Malik. “Awareness is not a challenge, for us the idea was to help people see that they can get quality credible mental healthcare under one roof, so that they don’t waste time going pillar to post seeking that help,” Kirpal added.

Amaha has been valued at around ₹177.2 crore (about $21 million) after raising about $10 million from marquee investors like Lightbox Ventures and Hitesh Oberoi among others, according to an Entrackr report in January 2024.

Kirpal pivoted to her venture in the mental healthcare after founding and running India’s first international art fair for a decade.

Her consulting venture, Librum Ltd, was recently launched in the UK as the world’s first strategic think tank for mental health solutions. She is also the co-founder of InnerHour, which aims to improve mental healthcare access.

As a trained counsellor and mental health caregiver, Kirpal has fellowships from the Aspen Global Leadership Network and the Eisenhower organisation. Also, she is part of the World Economic Forum’s Young Global Leaders community.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Equity investment startup Fabits secures pre-seed funding from WMUIndia

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Deep tech fintech startup Fabits has recently secured pre-seed funding from WMUIndia. This strategic partnership will transform the B2B fintech space and also empower mutual fund distributors and other key players to enhance their client offerings, the companies said in a statement.

Fabits is headquartered in Bengaluru and was founded in 2022 as a financial planning fintech startup.

The company offers goal-based investment solutions in an approach that combines human investment expertise and deep-tech algorithms.

As part of this pre-seed funding, the capital infusion will be used to strengthen Fabits’ deep tech model and enable accurate predictions and innovative investment strategies for its customers, the companies said.

The funding will also be used to expand Fabits’ B2B initiatives within the mutual fund distribution space

Ajath Anjanappa, CEO and Co-Founder of Fabits said, “70% of the funds received will be allocated to building the core product and technology, while the remaining 30% will be directed towards marketing and customer acquisition through strategic partnerships with key players in the industry.”

JayaprakashPai, Founder & CEO of Wealth Managers United (India) said, “Fabits’ deep-tech platform combines the best of traditional financial wisdom and modern technology.”

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

INTERVIEW | Good Glamm set to close its next funding round after a deal with Karan Johar

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Direct-to-consumer (D2C) unicorn Good Glamm Group is about to close the Series E funding round, co-founder Naiyya Saggi revealed in an interview with CNBC-TV18. “… (this) will take us right up to the IPO (initial public offering), which we are looking at in Diwali 2025,” Saggi said. 

The Mumbai-based D2C startup, last valued at $1.2 billion in November 2021, is trying to build both its brands and bottom line in its final lap before the IPO. 

While targeting profit before June 2024, the company has recently partnered with Karan Johar’s Dharma Productions. 

Good Glamm, which has, so far, relied on social media and influencers to promote its brands, has made an interesting turn towards Bollywood. 

ALSO READ: Priyanka Gill elevated to the Good Glamm Group board; joins Kalaari Capital as Venture Partner

Its products will be featured in 12 to 16 movies or shows produced by Dharma (one of Bollywood’s biggest producers) over the next three years.

“Beauty brands collaborating with movies gain extensive exposure and global reach, as their products are showcased on the big screen to a diverse audience. This association enhances the brand image, aligning it with the glamour and creativity associated with the film industry,” Saggi explained.

While Dharma is synonymous with big-budget blockbusters featuring the most popular stars that Bollywood has to offer, none of Karan Johar’s last five theatrical releases have had the cult following or social recall that his films are known for.

However, Saggi’s paying for more than what goes on the big screen.

Source: Bollywood Hungama

Good Glamm will also find space at premieres, there will be joint marketing campaigns, and the startup will be able to create spin-out content like reels and memes based on content from the movies — including integration in behind-the-scenes videos — they have partnered with.

The beauty products maker may choose to create makeup looks, and limited-edition collections, inspired by the film.

Dharma might be the first of many such tie-ups for the nine-year-old Good Glamm. “There are some exciting announcements on an international level that are going to come out soon,” Saggi added.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow