The startup makes almost 10 Mn monthly deliveries to more than 5 Lakh subscribers spread across 15 cities in India Even though Country Delight’s revenue from operations rose 1.6X YoY to INR 542.6 Cr in FY22, its net loss jumped 6.5X YoY to INR 186.4 Cr during the period under review due to a sharp rise in expenses According to Gade, the core mission of the startup is to provide superior-quality products to customers, cultivate customer loyalty, and add value to people’s lives At a time when an increasing number of Indian startups are trying to be in the black, the cofounder of Country Delight, Chakradhar Gade, has said that the dairytech startup is also not far from reaching the profitability milestone. “We are currently an almost $200 Mn revenue company, and the business is growing at 5-7% month-on-month. We are on the clear path to profitability in the next 8-10 months,” Gade said while speaking at the fourth edition of Inc42’s D2C summit. Country Delight currently serves 15 cities in India. As shared by Gade, the startup makes almost 10 Mn monthly deliveries to more than 5 Lakh subscribers across the cities it operates in. During the session, Gade talked about his fascination with the traditional Indian milkman system. The initial hypothesis of Gade and his partner, Nitin Kaushal, centred around the concept of a full-stack business model, where they aimed to own the entire supply chain, from the farm to the customer. One of the intriguing aspects of their approach was viewing cattle as a non-depreciating asset, as they only multiply over time. This perspective meant they could potentially grow the business without external capital infusion. According to Gade, the core mission of the startup is to provide superior quality products to customers, cultivate customer loyalty, and add value to people’s lives. Country Delight began its journey as a bootstrapped venture and dedicated the first 5 to 6 years to laying the foundation. The cofounders focussed on critical elements such as building technology to digitally monitor quality at the source, establishing a reliable supply chain with real-time visibility, and creating a proprietary distribution network capable of scalable operations. Founded in 2013 by Chakradhar Gade and Nitin Kaushal, Country Delight follows a subscription-based model where it sources milk from farmers and delivers it to customers. It also supplies bread, ghee, other dairy products, and fruits and vegetables. Since its inception, the startup has raised more than $158 Mn and is currently valued at over $600 Mn. It counts Orios Venture Partners, Elevation Capital, and Temasek among its investors. Country Delight’s net loss increased 6.5X to INR 186.4 Cr in the financial year 2021-22 (FY22) from INR 28.2 Cr in the previous fiscal year due to a sharp increase in its expenses. The Delhi NCR-based startup’s revenue from operations rose 1.6X to INR 542.6 Cr in FY22 from INR 320.7 Cr in FY21.

AI is everywhere, and now it has come for the bags on our backs. Microsoft is seemingly working on an AI-powered backpack. Yes, you heard it right – a smart backpack with artificial intelligence. Microsoft recently filed a patent for a smart backpack powered by AI technology and equipped with various sensors. The US Patent and Trademark Office (USPTO) has recently approved the application, filed back in May.The patent is for “AI-assisted wearables,” but the illustrations show a backpack. The proposed backpack would use speakers, a camera, GPS, and pressure sensors embedded in the straps to sense the surrounding environment. There is also a microphone to listen to the user’s commands. Microsoft says that it chose the form factor of a backpack to provide a completely hands-free experience. While mobile devices already have similar functionality, they require users to look at a screen and use at least one hand. The company also compares the backpack’s capabilities to home assistants like Apple’s HomePod, Amazon’s Echo Dot, and Google’s Nest home speakers, and the back offers an added advantage of being usable outdoors over them.What sensors will doAccording to Microsoft, the sensors would give the AI assistant a higher environmental awareness level than similar assistants in mobile phones and home-based In a scenario mentioned, the camera can scan a poster for an event, and users can ask the assistant to add the event to the calendar. The patent also describes a scenario where a customer is holding a banana in a grocery store while the assistant provides information on banana prices from nearby sellers. In another scenario, a skier can ask if they could go down a certain path, with the backpack using its sensors to relay information to the AI, which informs the skier which path to follow.These patents may not always come to fruition, as companies at times file patents to do research and development purposes. So, the chances of Microsoft actually making an AI backpack is dicey. However, Microsoft could choose to use the AI backpack’s ideas in other devices or not at all.

Schmooze is a meme-based dating app that comes from the alumni of Standford University and is backed by investors of Hinge, Snapchat and Giphy. The platform has also been featured on The Late Show hosted by Stephen Colbert. The app aims to enter the online dating market in India with a new approach that prioritises humour, authenticity and genuine connections. Schmooze is targeting the meme culture market segment by means of its social media interactions with the target audience.The app wants to provide Indian users with a better navigating experience in terms of fostering connections.Schmooze dating app: How it worksSchmooze wants Indian users to initiate conversations through swiping and sharing memes as icebreakers. Schmooze’s AI comprehends users’ personalities, preferences and traits based on their meme interactions. This understanding enables the app to predict user characteristics and subsequently offer compatible matches. Since its inception, the platform has facilitated over 3.5 million matches and engaged in 50 million meme swipes.The evolution of memesMemes have evolved from simple internet jokes to a universal language that transcends cultural and linguistic barriers. The app wants to capitalise on this phenomenon by using memes as a tool for fostering connections. Schmooze co-founded by Vidya Madhavan, Anurag and Abhinav, alumni of Stanford University and BITS Pilani, enters the race with the aim of redefining the Indian online dating market through the integration of memes. Commenting on the launch, Vidya Madhavan, Co-Founder of Schmooze, said, “Our journey began with a recognition – that the younger generation communicates its thoughts, emotions, and life experiences through the language of memes. So we harnessed AI to extract what the language of memes says about people’s preferences to help them laugh their way to love. Schmooze isn’t just about matching; it’s about providing a space where humour becomes the bridge to forging meaningful relationships.”

Unified Payments Interface (UPI) is the real-time payment mechanism. The instant payment system allows users to instantly transfer money to any bank account. Run by the National Payments Corporation of India (NPCI), UPI recently achieved a new milestone. UPI transactions in the month of August crossed 10 billion. Data from NPCI shows that 10.5 billion transactions were recorded on the platform in August. The volumes are mainly driven by three players in the segment — PhonePe, Google Pay and Paytm. In July last year, PhonePe processed around 4.7 billion transactions, followed by Google Pay at 3.4 billion.“Drumroll please! UPI has just shattered records with an astonishing 10 billion plus transactions. Join us in celebrating this incredible milestone and the power of digital payments. Let’s keep the momentum going and continue to revolutionize the way we make transactions with UPI!,” NPCI posted on X, formerly known as Twitter.The numbers that matter* The 10.5 billion transactions are up from 9.9 billion in July 2023. * In terms of the value of funds settled, UPI recorded Rs 15.7 lakh crore in August, this is slightly more than Rs 15.3 lakh crore in July. * The number of banks that currently live on UPI stands at 473.* NPCI reported 6.5 billion transactions in August last year and 3.5 billion in August 2021. Within two years the payment method has grown almost three times.

Starting a new business venture is an exciting and rewarding endeavor. The thrill of bringing your ideas to life, the potential for financial success, and the satisfaction of creating something meaningful drive countless individuals to embark on the entrepreneurial journey. However, the road to success is not without its challenges, and the statistics can be sobering – a significant number of startups fail within their first few years. The key to avoiding such a fate lies in mitigating failure risks through careful planning, strategic thinking, and a customer-focused approach. Read on to learn to minimize failure risks through planning, team-building, and customer focus in your entrepreneurial journey. 1. Identifying Potential Pitfalls Before diving headfirst into entrepreneurship, it’s essential to understand the common reasons behind startup failures. These include market misalignment, inadequate market research, poor financial management, and a lack of customer validation. To ensure your venture’s success, take the time to thoroughly research your target market, validate your business idea with potential customers, and identify any potential pitfalls early on. 2. Building a Solid Foundation Every successful business starts with a solid foundation. Crafting a well-defined business plan that outlines your mission, vision, and value proposition is crucial. A clear roadmap will help you stay focused and guide your decision-making process. Equally important is the development of a scalable and adaptable business model that can evolve with changing market dynamics. 3. Financial Prudence One of the top reasons startups fail is inadequate financial planning. Careful budgeting, expense management, and forecasting are essential to maintain a healthy cash flow. Consider various funding options, such as bootstrapping, seeking investors, or securing loans, to ensure your business has the necessary resources to grow. 4. MVP and Iterative Development The concept of the Minimum Viable Product (MVP) is a powerful tool for startup success. By launching a simplified version of your product or service, you can quickly gather user feedback and validate your assumptions. Embrace an iterative development process that allows you to make improvements based on real-world insights, increasing your chances of creating a product that meets customer needs. 5. Effective Team Formation No entrepreneur is an island. Assembling a skilled and diverse team is instrumental in reducing failure risks. Seek team members with complementary skill sets who can cover various aspects of the business. Strong collaboration and effective communication within the team can drive innovation and lead to better decision-making. 6. Continuous Learning and Adaptation The entrepreneurial journey is marked by constant learning and adaptation. Stay informed about industry trends, technological advancements, and changes in consumer behavior. An openness to new ideas and a willingness to pivot when necessary can help your business stay relevant and competitive. 7. Customer-Centric Approach At the heart of every successful business is a deep understanding of customer needs. To reduce failure risks, focus on addressing customer pain points and delivering exceptional experiences. A satisfied customer base not only leads to repeat business but also serves as a powerful marketing tool through word-of-mouth recommendations. 8. Mitigating External Factors While you can’t control all external factors, you can take steps to mitigate their impact. Develop contingency plans for economic downturns and regulatory changes. Building strong relationships with suppliers, partners, and stakeholders can provide a safety net during challenging times. Takeaway As you embark on the exhilarating journey of entrepreneurship, remember that success isn’t solely defined by the absence of failure, but by the ability to navigate and overcome challenges. By meticulously addressing potential pitfalls, building a solid foundation, practicing financial prudence, fostering an effective team, embracing iterative development, and centering your efforts around the needs of your customers, you position yourself for a greater likelihood of success. In the dynamic landscape of startups, the path forward isn’t always predictable. However, armed with strategic insights and a resilient spirit, you can steer your venture away from the common pitfalls that lead to failure. By adhering to the principles outlined in this article, you’ll find yourself better equipped to make informed decisions, adapt to changing circumstances, and ultimately tip the odds of success in your favor. Remember that the journey of entrepreneurship is both an educational experience and a chance to make a meaningful impact. Embrace each setback as an opportunity to refine your approach, and approach each milestone with a willingness to learn and grow. While the road may be challenging, your commitment to mitigating failure risks sets you on a trajectory to achieve your entrepreneurial aspirations. So, equip yourself with knowledge, determination, and a steadfast dedication to your customers, and watch as your startup not only survives but thrives in the competitive business landscape.

At a time when many D2C brands are enthusiastic about expanding offline, with some questioning the online demand, Aluru believes in ‘being digital first’ and then gradually expanding into other domains There is still immense potential in the digital realm, so there’s no need to rush into the offline space, especially considering the complexities of scaling up offline operations, the TMRW CEO said   Aluru concluded the session by highlighting lessons learned from Lenskart, CaratLane, and Firstcry, which began as digital-first brands and have successfully demonstrated what an omnichannel presence should look like in the digital age  India’s thriving D2C landscape has garnered significant interest from investors, entrepreneurs, and corporations alike. However, according to Prashanth Aluru, the cofounder & CEO of TMRW – House of Brands, the term D2C is more closely associated with digital-first brands.  Elaborating his viewpoint during the fourth edition of Inc42’s virtual D2C Summit 2023, he said that to tap into the broader ecommerce opportunity in India, D2C brands must focus on being digital-first. “As a D2C brand, you could be selling on marketplaces, your websites, or eventually adopting an omnichannel approach. However, fundamentally, you are a new-age brand catering to a new-age consumer,” Aluru said. The Aditya Birla Group ventured into the realm of house of brands with TMRW in June 2022, with plans to build a portfolio of fashion and lifestyle brands by acquiring and incubating over 30 brands in the next three years. Their current portfolio includes names such as Berrylush, Bewakoof, Juneberry, Natilene, Nauti Nati, Nobero, Urbano, and Veirdo. At a time when many D2C brands are enthusiastic about expanding offline and some are questioning the online demand, Aluru believes in ‘being digital first’.  He acknowledged that ecosystems experience cycles of challenges and opportunities. While growth may appear slower compared to the Covid-19 era, the macro opportunity lies in building a new-age brand that starts as digital-first and gradually expands its presence offline and into omnichannel. He stated, “There is still immense potential in the digital realm, so there’s no need to rush into the offline space, especially considering the complexities of scaling up offline operations from 10 to under 300 stores, which is an entirely different challenge.” Furthermore, as a digital-first brand, the approach to offline expansion should differ from traditional brands like Louis Philippe or Allen.  Aluru further stressed the importance of integration between the two channels, where one channel complements the other. Understanding the consumer and ensuring a seamless experience across channels is essential. A digitally native consumer expects innovation in physical stores, such as having a complete catalogue available or offering an infinite aisle experience. For D2C offline brands expanding into marketplaces, focussing on the products consumers prefer offline is key.  “For instance, if you identify a best-seller in D2C, how can you bring it to the offline space or on platforms like Myntra or Amazon more efficiently? This is where we see the channel’s capability,” Aluru explained. He reiterated that a brand can leverage multiple channels, but they all must be unified and seamless. Aluru concluded the session by highlighting lessons learned from global and Indian examples, such as Lenskart, CaratLane, and Firstcry, which began as digital-first brands and have successfully demonstrated what an omnichannel presence should look like in the digital age.

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Ola has been experimenting with ONDC since August and has embedded a new ‘ONDC Food’ feature within the Ola app itself, available only for company employees This comes a week after Ola’s CEO Bhavish Aggarwal publicly said that the company plans to join ONDC but had refrained from divulging details While it was largely expected that Ola would join ONDC as a mobility player, the move to take the food delivery route appears to be the company’s latest attempt to dabble in the foodtech space.  Update | September 1, 08:33 PM Ride-hailing major Ola has reportedly joined the state-backed Open Network for Digital Commerce (ONDC) and is piloting a food delivery platform.  Sources told The Economic Times that the startup has been experimenting with ONDC since August and has embedded a new ‘ONDC Food’ feature within the Ola app itself. As per the report, the feature is currently available only for Ola employees. The pilot enables Ola employees to access multiple restaurants listed on the network and order from them via Ola app. This pits the ride-hailing giant directly against foodtech giants Zomato and Swiggy.  Meanwhile, the company management reportedly sent an email to all its employees on August 24 seeking their feedback on the trial run.  “This ONDC integration works out great for Ola because now they do not have the hassles of figuring out integration of the restaurant partners and consumers. The next step would be to open the food delivery to consumers beyond employees,” a person privy to the development told ET.  While it was largely expected that Ola would join ONDC as a mobility player, the move to take the food delivery route appears to be the Bhavish Aggarwal-led company’s latest attempt to dabble in the foodtech space.  Be it launching the food delivery service called Ola Cafe in 2015 or the acquisition of Foodpanda India in 2017, all major attempts by the company to establish itself in the space have largely failed. The company shut Foodpanda in 2019 and subsequently wound up its quick commerce arm Ola Dash in 2022.  Now, ONDC seems to be the new experimenting ground for the company to realise its foodtech dreams. The sector is currently largely a duopoly of Zomato and Swiggy.  Original Story| August 31 , 10:05 PM Ride-hailing giant Ola is reportedly planning to jump on the Open Network for Digital Commerce (ONDC) bandwagon.  As per Medianama, Ola’s chief executive officer (CEO) Bhavish Aggarwal, while addressing the India Internet Day event held on August 24 in Bengaluru, said that the company was planning to join the state-backed network. He, however, did not divulge any details. Inc42 has reached out to the company for a comment on the matter, and the story will be updated accordingly. The development comes five months after ONDC forayed into the mobility space to enable smaller local players to compete with behemoths such as Uber and Ola. With this, Ola could be looking to tap into the growing ONDC ecosystem, which counts Namma Yatri, the Juspay and Beckn Foundation-backed ride hailing app for autos, as the sole mobility player on its platform.  While Namma Yatri currently offers services only in Bengaluru, Ola could be looking at a pan-India offering on ONDC, with its eyes set on getting the first-mover advantage. As and when Ola debuts on ONDC, the drivers of Ola may benefit from the high discoverability aspect of the network. Simply put, the state-backed initiative will allow participating platforms (in this case mobility players) to broadcast their services across all apps on the network. As a result, a user looking for rides will simply be able to compare prices from both Namma Yatri and Ola and choose accordingly.  As adoption grows and more and more players join the network, users could see more competitive pricing as companies undercut each other for a bigger pie of the ride-hailing market. This could pose a threat to the duopoly of Ola, which it enjoys with Uber in the ride-hailing space.  On the other hand, Namma Yatri has so far banked on the zero commission model for drivers to drive adoption but the platform will begin charging drivers beginning September 1.  Besides, buyer apps such as Paytm, Pincode and Spice Money may also potentially hold the key and emerge as an avenue for users to book rides on ONDC. Paytm, too, has plans to roll out support for booking rides, while other players may also follow suit.  At a time when the ride-hailing giant is struggling with several issues, including increasing losses, customer complaints about its subpar services and growing competition from new and existing players, the move to list on ONDC may bode well for Ola. This comes days after ONDC CEO T Koshy said that the platform is merely ‘creating sparks’ right now, adding that an ‘explosion’ would happen when the platform gathers volume.  Brainchild of the Department for Promotion of Industry and Internal Trade (DPIIT), the network aims to ramp up ecommerce penetration to 25% in the next two years. At stake is the growing ecommerce opportunity, which is projected to reach $400 Bn by 2030. 

Investments in space equipment have seen an uptick in recent years and with more frequent launches as well as a number of missions lined up in the near future, the area is evidently seen as a cash cow by the likes of SpaceX CEO Elon Musk and Amazon and Blue Origin founder Jeff Bezos. Amid this, an Amazon shareholder has filed a lawsuit against Bezos and the Amazon board on awarding contracts to Blue Origin and not SpaceX.According to a report by Reuters, the shareholder has alleged that Bezos and company directors awarded launch contracts worth billions of dollars for the company’s Project Kuiper satellite project to Blue Origin, and did not consider rival Musk’s SpaceX as an alternative launch provider despite its track record.SpaceX’s rockets are being used by NASA to launch space missions. The company is also launching Starlink satellites aboard the rockets. What is Amazon’s Project KupierAmazon’s Project Kuiper is a planned network of over 3,000 satellites designed to beam internet to remote regions. This is similar to Musk’s Starlink network of satellites.According to the lawsuit, the launch contracts were the second-largest capital expenditure in Amazon’s history at the time; the acquisition of Whole Foods in 2017 for $13.7 billion is the first.It also states that Amazon has already paid about $1.7 billion to the three launch providers in the project, including $585 million to Blue Origin directly. The company has not yet launched a prototype of its Kuiper satellite into orbit.Amazon has already said that Project Kuiper will begin mass-producing the satellites later this year and beta testing with commercial customers in 2024.The company will also invest $120 million in a satellite processing facility at NASA’s Kennedy Space Center in Florida and it will serve as a last stop before sending the satellites into space. Amazon will have to launch half its entire Kuiper network of satellites by 2026.What Amazon has to sayAn Amazon spokesperson said the claims are without merit. “The claims in this lawsuit are completely without merit, and we look forward to showing that through the legal process,” the spokesperson was quoted as saying.

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