Ranganathan Srinivasan

📣 The Arc Bulletin If you missed our top stories, here is what you need ⬇ 1. Razorpay projects operating-breakeven in FY26 Yup! The payment aggregator reduced its operating loss to $50 million in FY24, according to the holding company's financials accessed by The Arc. It's still a year and a half away from reporting breakeven there, according to projections. Catch the deets here: https://lnkd.in/gtxsiYfn 2. Asset management company Vanguard has cut Ola's valuation to $2 billion 📌 Vanguard had invested in the company in 2015 at a $5-billion valuation. 📌 Ola Consumer's valuation had soared to $7.5 billion in 2021. 📌 Vanguard has in the past marked down Ola's valuation. Full report here: https://lnkd.in/gzyZNrNj 3. Finally, don't miss Spinny's FY24 results. Shraddha S. has the full report here: https://lnkd.in/gQHWunPW Will be back with more updates. Have a super Tuesday!

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Hyderabad-Based AI Startup Pulse Raises $1.4 Mn Seed Funding to Drive Innovation in Large Language Models and Agentic AI Hyderabad-based AI startup Pulse has secured $1.4 million (approximately INR 11.8 crore) in a seed funding round led by Endiya Partners. Notable angel investors, including the founders of Zluri and Yellow.ai, also participated in the round. Pulse plans to use the capital to expand its team and further develop its specialized large language models (LLMs) and agentic AI capabilities, according to a statement by the company. The startup is also dedicating resources to initial go-to-market initiatives to establish a foothold and gain market traction in both India and the US. Founded in 2024 by Haren Chelle, Vatsal Singhal, and Alok Thatikunta, Pulse provides an agentic AI platform designed for SaaS product teams. The platform consolidates and analyzes data from multiple sources, offering actionable insights, predictive analytics, and strategic recommendations. Full article visit: #SaaS #valuation #funding #startups #AI #news

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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

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Core Engineering GCC in India Low hanging fruits to get started off – PCB designs & Library Management, TCO (Total Cost Optimization). These 2 portfolio skills can be a good jump-start for revenue generation. Pre-requisite: Have deep knowledge, strong product fundamentals and a good vendor-partner ecosystem before launching these services. Common Misconceptions: Product TCO is not the art of changing existing suppliers with low-cost ones to reduce the BOM cost there by increase margins! VAVE & TCO needs to be looked more organically & holistically. TCO in PCBs is just not re-designing layouts with same form-factor or reduce layer count or change vendor or PCB material to achieve cost reduction. The myth of TCO as established in the early years of “outsourced engineering” is cost take out (cheap labor, cheap materials). In my formative years of R&D, every morning we used have the "SAME PCB" in our hand to identify “The Eureka” moment to replace a component vendor! Boy! that’s not the case anymore! TCO is no mere supply chain or component engineering job. We used to call it TDR – Tear Down Re-Engineering. One of my Korean bosses used to say that the product must be engineered until the last drop of tear comes out of your eyes! Hence, TDR. This need serious product & system skills – some one should be able to open-up the box and put it back again! GCC’s & TCO Opportunities Product GCC’s setup in India must have strong completing skills (system engineering) to do a proper TCO! Ex: PCB team must understand mechanicals, manufacturing, assembly, test techniques, fabrication, physics behind materials, etc. If a PCB has been on the market for several years now without any quality issues, and if its cost has to be reduced – first question should be why? What's the objective of the TCO, is the vendor going bankrupt? Business answers needs to be understood before getting into the opportunity itself. This will also determine the seriousness of the customer! You put a lot of effort to reduce the cost and the customer merely says thank you, your quote is not competitive enough! Or they may be also looking at the mere feasibility. Give an indicative % of cost reduction with a ballpark strategy and tell the customer that if they are really interested in the details, you can submit a “Onetime chargeable quote”. If they are interested, they’d pay for your quote and if you win the bid, you implement!

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*STAR 2024* Written and Directed By Elan. Kavin’s Performance was Brilliant[Best till Date]! Waiting for a great lineup of films , especially one in Vetrimaaran sir’s Direction. Laal Sir rocked as always! Coming back to Revisiting Coding. Today is Day3 Learned about Lists, Classes and Functions Confusing and drained out as its been really 7yrs I wrote a perfect logical code. Lets see , what tomorrow holds on to , but the movie and frame i have posted today , gave me all the motivation i needed. As always keep rocking. #dkrevisitscoding #javascript #coding #starmovie

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1. A crore is still a crore regardless of how big the company is. You’re still answerable to shareholders. 2. Even if they had a crore to spare, this would only encourage others to do the same and make a quick buck. 3. Domain squatting, while is a grey area in India, is illegal in many countries and is unethical regardless. 4. Buying a domain (and possibly many others as a backup) is not an entrepreneurial skill. It costs barely ₹300-400 to buy a domain these days.

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"Engaging discussion with Mr Sanjeev Chopra, former Director of LBSNAA, on #Indianmasterminds. His book 'We, the People of the States of Bharat' offers pragmatic insights into restructuring India's internal boundaries. Intrigued by the upcoming biography on Lal Bahadur Shastri, a visionary leader pivotal in India's resurgence. The interview unveiled lesser-known facets of Shastriji's life, underscoring his foundational role in shaping India's destiny. Eagerly awaiting the formal release! A must-watch for those interested in Indian history and leadership. Kudos to Mr. Chopra for enriching our understanding of our nation's past and present. #IndianHistory #Leadership #Inspiration"

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Small companies are playing a crucial role in facilitating GPU access in India, particularly in the realm of cloud computing & AI infrastructure. Neysa Velocis, Mumbai-based Neysa’s flagship platform, helps scale up AI projects using GPU infrastructure & has a diverse inventory of thousands of GPUs. Indore-based NeevCloud® is a recent entrant with plans to deploy 40,000 GPUs, aiming to provide affordable & accessible GPU resources to AI researchers & developers. Bengaluru-based JarvisLabs.ai has access to more than 1,000 GPUs through partners & also has its own capacity in the country. Small companies often offer better local support & quicker response times, factors that are crucial for businesses operating in India. But setting up & maintaining GPU infrastructure can be expensive, especially for smaller companies. The market is becoming increasingly competitive, with both large & small players vying for market share. However, the growing demand for AI & machine learning in India presents a significant opportunity for small companies to thrive. “Very shortly, we will have a much more recent and a more modern inventory of GPUs within our platform,” said Karan Kirpalani, chief product officer at Neysa, an AI acceleration cloud platform company. A large part of Neysa’s clientele in the private sector is from financial services, insurance, education, media, entertainment, pharma, life sciences & IT/ITeS. Neysa Velocis offers GPU-based AI services including training, fine-tuning & inferencing, with a focus on cost efficiency & ease of use. It has raised $50 million in funding & collaborates with NTT Data Corporation’s data centres in India. It has onboarded 12 clients in about 10 weeks since the formal launch of its platform in October, with a mix of Indian & global multinationals. Neysa’s differentiation comes from its intellectual property & cost-conscious design, said Kirpalani, adding that its pricing is competitive, offering return on investment benefits & total cost of ownership reductions of 40-70% compared to hyper scalers. It is also participating in the INDIAai Mission, leveraging partnerships for scale & complexity. Narendra Sen, founding chief executive of NeevCloud, told ETtech that the company has built an orchestration engine to provide GPUs on demand. “We can expand in the US & Europe & are continuing to invest in AI data centres in central India, & are going to other states like Chhattisgarh, Raipur, Mumbai & Bengaluru,” he said. Sen said that these data centres will be capable of holding up to 60,000 GPUs, but the company will ramp up next year with around 2,000 of NVIDIA’s H200 & Blackwell GPUs to begin with. Jarvis Labs, founded in 2020, initially provided integrated development environments powered by GPUs at affordable prices due to lack of competitors. Full story in the link here👉 https://lnkd.in/eYZG3YyM

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The semiconductor industry in India is experiencing significant growth and transformation, driven by several key factors. Here’s an overview of how the semiconductor industry is booming in India:  Government Initiatives and Policies The Indian government has introduced several initiatives and policies to promote the semiconductor sector. Key programs include: 1. PLI Scheme: The Production Linked Incentive (PLI) scheme provides financial incentives to companies setting up semiconductor and display manufacturing units in India. 2. SPECS Program: The Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) offers financial support for the manufacturing of electronic components, including semiconductors. 3. National Policy on Electronics (NPE) 2019: This policy aims to position India as a global hub for Electronics System Design and Manufacturing (ESDM).  Investments and Collaborations India is witnessing substantial investments from global and domestic companies in the semiconductor sector: 1. Global Companies: Major global semiconductor companies like Intel, Qualcomm, and TSMC are exploring investment opportunities in India. 2. Domestic Players: Indian companies, such as Tata Group, have announced plans to enter the semiconductor manufacturing space. 3. Partnerships: Collaborations between Indian and international firms are fostering technology transfer and skill development.  Infrastructure Development To support the growth of the semiconductor industry, India is investing in developing world-class infrastructure: 1. Electronics Manufacturing Clusters (EMCs): These clusters provide state-of-the-art facilities for semiconductor and electronics manufacturing. 2. Research and Development: Increased focus on R&D to drive innovation and develop cutting-edge semiconductor technologies.  Skilled Workforce India boasts a large pool of highly skilled engineers and professionals, crucial for the semiconductor industry. The country’s emphasis on STEM education and initiatives to upskill the workforce are contributing to the sector’s growth.  Demand Surge The rapid digital transformation and increased adoption of technologies such as 5G, AI, IoT, and electric vehicles (EVs) are driving demand for semiconductors. This surge in demand is encouraging both local manufacturing and foreign investments.  Strategic Location India’s strategic location and its role in the global supply chain make it an attractive destination for semiconductor manufacturing. The country aims to reduce dependence on imports and become a key player in the global semiconductor market. #Semiconductors #Technology #Innovation #TechPolicy

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As the Indian edtech market evolves, it's becoming increasingly clear that supporting multiple vernacular languages is fundamental to scaling content-rich products like e-learning and online courses. Creating video lessons from text, translating text, and providing video-to-text or text-to-voice support for vernacular languages are essential for success. I'm curious, what are some companies that are doing this well? Have you come across any products that are excelling in this area? Let's share our experiences and learn from each other. #edtech #educationtechnology #vernacular #languages #ai #genai #india #bharat #education #startups #future #productmanagement #artificialintelligence #innovation #bhashini Kindly comment for better reach #cfbr

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What do you call a long-read about quick commerce? A Quick Read, right? 😜 Check out Aditi Shrivastava's fab Arc Analysis of the second-order effects of quick commerce. When Zepto was founded in 2021, few gave the concept of 'quick commerce' a chance. But a recharged Blinkit under Zomato, and Zepto's blitzkrieg execution have ensured that many other segments of India's consumer story evolve their own quick-commerce formats. Simply incredulous! https://lnkd.in/gw2fAg8C This The Arc Analysis will unbox: 📌 The quick commerce playbook 🏹 , 📌 The buy-in for quick commerce 💰💰💰, 📌 How myriad players, from start-ups to Amazon and Flipkart, across categories are applying quick commerce 🛵 in their overall customer proposition. Enjoy the story! I'll be back tomorrow with more goodies from The Arc. Or, I can get out of the way if you simply subscribe to us for free at https://lnkd.in/gxPZT2sF

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Here's one more theme that has played out over the past decade in India SaaS: SaaS companies that sell into India/Asia (non-China/Japan). There's been a reasonably large set of investors in India who have been default no in this category, based on perception of limited TAM and GTM challenges. However, there is reason to be optimistic for this theme (we are!). A reasonable set of companies in the ecosystem have scaled, such as MoEngage, Darwinbox, Capillary Technologies, Yellow.ai, Unicommerce , Gupshup, CRMNEXT, LeadSquared. Companies like Salesforce, SAP etc have reached multi-hundred million ARR in India. As a result, the potential scale from sales in India has grown from the $15-20mm that people used to talk about 5 years back to perhaps $50mm in India, overall $100mm-150mm in Asia. I think we'll see more companies continue to get funded here as IT demand in India/SEA deepens and local requirements (mobile, India Stack, regulations, languages) get addressed. Founders and investors will need to tune into this being a solid path to go but will take longer to get to impact than US/EU-focused companies. Some characteristics we see at India/SEA-facing software companies: * Many start out in SMB but then find scale & success selling into enterprises. India market has a ton of SMBs (10mm+), a relatively light mid-market and a significant set of large enterprises. * Products tend to have feature sprawl and design-deficit but this can be fixed. * Some large sectors that are pulling at enterprise level e.g. BFSI, multi-sector conglomerates. Early traction from digital native companies (but naturally capped market). * Natural to go to SEA & Gulf countries. Product could remain fairly similar but sales & marketing motion can be quite different. To get really large, feels like will have to end up going to US/EU markets eventually. * ~10 years to $100mm ARR, with market leadership in Asia * Gross margins start out perhaps 10-15 points lower than corresponding companies in the US/EU but trend up over time. * Most India-facing SaaS companies are starting as India Pvt. Ltd. today, compared to 5 years ago (versus US C-corp), with a view to going public in India at $50-100mm revenue level.

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Another big ed-tech ‘Unacademy’ is up for sale, merger or bailout. Company fired 250 of their employees yesterday and is struggling with finances. It has approached the likes of Allen, PhysicsWallah, K12 Techno and others. It was also in talks with K12 Techno about the merger but looks like those talks are not advancing. Company has raised $877 million till date and company is searching for a respectable way out. Unacademy's situation highlights the potential turbulence within the EdTech sector. While the industry has seen immense growth, companies are now facing increased competition and the need for profitability. What are your views?

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Excited and looking forward to discussing the evolving challenges of raising capital for early-stage startups at SAASCON24. Join me as I dive into the current trends, what founders need to know, and how we can navigate this more challenging environment. #SAASCON24 #StartupFunding #EarlyStageStartups #SaaS #Entrepreneurship

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When brands begin to scale, and order keeps flowing, keeping an eye on every order, ensuring the same consistency and services that brought you to the success becomes difficult to keep up. The heroism of early days fade away. Excellence is a matter of how systems scale. LogiNext MILE platform goes to great lengths enabling dispatchers to manage the deliveries with just as much efficiency and touch of personalization to serve their customers with delight.

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The Titan Caratlane acq at EV OF 17000Cr and founders 27% equity bought for 4621Cr is another shining example of how determined but ever learning founders turned cash burning biz model into profitable one and made one of the biggest cash exits in India. Another inspiring story for next gen founders. Aviral Bhatnagar Mithun Sacheti https://lnkd.in/d9rt7wGQ! The company struggled. Losses were mounting. VCs ignored them. For nearly 4 years, they trudged on while trying to make use of whatever money they had. So when CaratLane needed more money in 2019, Sacheti was in for a rude surprise. He expected Titan to give him the cash at a multiple similar to the previous round — 5 times his sales figure. But nope that didn’t happen. Titan turned around and asked, “So, what about the profits?” As if that wasn’t enough, the legendary Rakesh Jhunjhunwala, who was also an investor in Titan, asked — “Where is your cashflow?” And looks like that was the wake up call CaratLane needed. They tweaked their strategy. Instead of spending heavily on opening new stores, they went the franchise route. They snagged working capital funding at a low cost by leveraging the Titan partnership too. And finally, in FY21, CaratLane reported its first profits. Things were falling into place. The company nearly doubled its store size within the next year. And the profits swelled even further.

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🌟 🎯 Guesstimate Mastery: What I Learned from a Meta PM 🌟 I recently participated in a mock interview session organized by HelloPM, led by Sugat Nayak, a seasoned Product Manager at Meta. Alongside him was Kshitij Anand, an MBA candidate at IIM-B, who shared valuable insights. Together, they walked through the process of solving guesstimate questions, an essential skill for PM interviews. 👉 How to Approach Guesstimate Questions: 1️⃣ Clarifying Questions First: Before jumping in, always ask clarifying questions to understand the scope, timeframes, or data points. This ensures you’re aligned with the interviewer’s expectations. 2️⃣ Start with a Structured Framework: Break the problem into key variables and start with a high-level estimate. A structured approach helps you organize your thoughts and gives clarity to the interviewer. 3️⃣ Make Assumptions & Communicate Them Clearly: Assumptions are inevitable. Make them, but ensure transparency. For example, if you assume certain traffic patterns or user behavior, be sure to explain your reasoning. 4️⃣ Estimate with Reasonable Numbers: Use real-world numbers that make sense. When estimating user numbers, market sizes, or other figures, ground them in logic. If something doesn’t feel right, pause and reassess your approach. 5️⃣ Test Your Answer: After arriving at an estimate, check it using a different method. For example, test your market size estimate with another metric to see if it aligns. This helps verify your calculations. 6️⃣ Consider Variations and Patterns: Think about how factors like time of day, seasonality, or events can shift your numbers. For instance, weekends, holidays, or product launches might affect sales. Acknowledge these nuances in your thought process. 7️⃣ What to Do If the Topic Is Unfamiliar: If the topic is new, apply your problem-solving skills. Use analogies from areas you're familiar with and walk through the logic step by step. Your approach matters more than prior knowledge. 👉 Things to Note While Preparing: 1️⃣ Practice Regularly: The more you practice, the more comfortable you'll get. Dedicate time to work through different guesstimate problems to improve your problem-solving skills. 2️⃣ Familiarize with Common Scenarios: Many guesstimates revolve around market sizes, user numbers, or revenue estimates. Know the typical ranges for these factors across industries. 3️⃣ Sharpen Your Mental Math: Quick mental math saves time during interviews. While exact calculations aren’t expected, being able to estimate quickly and accurately is essential. A huge thank you to Sugat Nayak for leading the session, Kshitij Anand for the valuable feedback, and Aakash Pandey for organizing this insightful experience. I’d love to hear your thoughts! How do you approach guesstimate questions? What methods have worked for you in interviews? Let’s discuss in the comments! #ProductManagement #PMInterviews #Guesstimate #Hellopm #MockInterview #CareerGrowth #PMCommunity

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