Sossal

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03/04/2023

Srutiza Mohanty, a Bengaluru-based engineer, left her engineering job to establish Risham Jewellery, a company that aims to revive the traditional craft of bead production and provide employment and educational opportunities for women. ⁣
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Bead weaving is a complex art form that has been in use for thousands of years, ranging from Native American storytelling to clothing and collars for Egyptian kings. ⁣
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- Despite being introduced to India by Europeans, beading has primarily been used for home decoration and less for jewelry-making, with the local market being inundated with low-cost alternatives. ⁣
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- Mohanty, who stumbled upon the art form while browsing the internet, was inspired by the process and started learning bead weaving after work, eventually deciding to take the venture seriously after the birth of her child due to encouraging signs of success.⁣
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03/04/2023

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Repos, a startup supported by Ratan Tata, aims to revolutionize India's energy distribution system by providing doorstep fuel delivery through mobile petrol pumps. ⁣
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Chetan Walunj and Aditi Bhosale, the founders of Repos Energy, recognized the difficulties in the existing fuel distribution model and devised a new system to bring fuel directly to customers.⁣
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03/04/2023

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Reetu Slathia, a resident of Jammu, found her calling in gaming in her 40s, defying stereotypes and discovering freedom and joy through online gaming. ⁣
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While progress has been made in various professions and industries, there is still a noticeable portion of the glass ceiling that remains intact. ⁣
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- However, Reetu, who goes by the name "Blackbird" on the streaming and gaming site Rooter, has broken through this ceiling with her passion for gaming, which has earned her over 3.5 lakh followers and an annual income of more than Rs 1.2 lakh. ⁣
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- Despite the financial aspect, Reetu values the confidence and courage that gaming has given her, as well as the opportunity to chat with players from diverse backgrounds, which she considers empowering. ⁣
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- She begins her day with her daily puja, cooking, and cleaning, followed by launching her gameplay in front of a large audience of eager spectators.⁣
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03/04/2023

According to Ashneer Grover, the Co-founder of BharatPe, his wife Madhuri Jain Grover has emerged as one of the highest female taxpayers in India this financial year, having paid ₹2.84 crore in advance tax. ⁣
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Despite a challenging year for the investment space, Madhuri has excelled in her startup investments, impressing her husband with her performance. ⁣
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- Previously serving as the Head of Controls at BharatPe, Madhuri has continued to make significant contributions to the financial sector.⁣
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02/04/2023

Xyxx, the premium innerwear and lifestyle company, is aiming for a total revenue of Rs 240 crore by the end of the 2023 fiscal year, following a fourfold increase in net revenues year over year in the 2022 fiscal year. ⁣
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- The company's total sales for the fiscal year 2022, which ended on March 31, 2022, were Rs. 105 crore, a significant improvement from the fiscal 2021 revenue total of Rs 26 crore. ⁣
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Yogesh Kabra, the founder of Xyxx, reported that the brand's product orders had increased by 95%, contributing to the income growth. ⁣
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- Launched in 2016, Xyxx uses an omni-channel strategy to sell men's underwear and casual clothing and has raised Rs 135 crore in capital. ⁣
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With the recent Series B investment, the company is expanding its physical presence in India through various retail formats to drive revenue growth. ⁣
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- Xyxx plans to increase the number of retail touchpoints it has in multi-brand stores from the current 14,000 to about 30,000, including ten exclusive brand locations, by February 2023. ⁣
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- This offline expansion is expected to contribute significantly to Xyxx's revenue growth in the current fiscal year.⁣
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02/04/2023

During a podcast interview with tech reporter Kara Swisher, Instagram's co-founder Kevin Systrom expressed his discontent with the social media platform turning into a marketplace for influencers, stating that Instagram has lost the essence of what made it unique.⁣
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02/04/2023

Don Farrell, Australia's minister for trade and tourism, called the Adani industrial group "good corporate citizens" and said the company was welcome to continue making investments in his nation.⁣
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Speaking to a group of Indian journalists present, Farrell expressed his optimism that the company's current problems in India would not have an impact on its investments in Australia.⁣
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I've read in the media that Adani's issues won't have any bearing on their Australian investments, and I sincerely hope that's true, said Farrell.⁣
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"We welcome investment from India. Adani's investment is good. In Australia, jobs are being created. They behave ethically as a business. And they contribute to the effort to raise the standard of living for Indians, which we support, said Farrell.⁣
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The energy, mining, and port industries in Australia are heavily populated by the Adani group. In Queensland, which is in northeastern Australia, the group owns and runs a port. The Carmichael coal mine and road project, located in Queensland, is the project's centrepiece and has received a great deal of criticism for environmental reasons. There are solar energy projects there as well.⁣
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According to Farrell, Australia's present emphasis on the development of essential minerals is unlikely to have an immediate impact on coal mining activities.⁣
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02/04/2023

One of Namita Thapar's entrepreneurial mentees has made waves on Twitter. ⁣
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- Avantika Kampani, a 15-year-old prodigy, has established an educational technology company called Seekh by Day One that earns an impressive $245,000 per year! ⁣
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Avantika founded the company at the age of twelve, as revealed in a video that Namita shared when she visited the Shark Tank India Season Two set, demonstrating why the judge is so proud of her. ⁣
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- Seekh is an innovative learning tool created by Avantika that consists of 72 interactive flashcards divided into six categories, designed to enhance different areas of a child's brain. ⁣
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The cards help children learn counting, building blocks, and other skills through a simulated visual learning experience. ⁣
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- Avantika created the tool to be lightweight and portable for parents who are constantly on the go. ⁣
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- Avantika has received praise and rave reviews for her innovative product, with several celebrities, including Shatrughan Sinha and Dipali Goenka, among her admirers. ⁣
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Her startup is an inspiration for young entrepreneurs.⁣
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01/04/2023

The Souled Shop, a business selling pop culture items direct to consumers, has raised Rs 135 crore in a fundraising round that was co-led by Xponentia Capital.⁣
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The fresh round of funding included participation from existing owners Elevation Capital and RPSG Capital, an early-stage consumer venture capital fund from the RP-Sanjiv Goenka group.⁣
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According to co-founder Vedang Patel, the D2C brand will use the funds to open more than 100 offline locations nationwide and grow into fresh product categories like children's clothing and trainers.⁣
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Our offline locations are doing incredibly well; they outperform industry data, and we want to fully capitalise on that growth lever, he said. This is one of the reasons we want to seek money. "The second thing we want to do is introduce new product categories, such as kids wear; the footwear industry is developing incredibly well."⁣
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According to him, The Souled Shop sells roughly Rs 70,000 per square foot annually, as opposed to the industry average of Rs 10,000 to Rs 20,000.⁣
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The additional offline locations will aid in improving sales in tier II and tier III cities, where up to 60% of its revenue is generated.⁣
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In the following two to three years, The Souled Store will also reach more overseas markets. Patel stated that it has begun selling in the UAE and aimed to spread throughout the greater GCC.⁣
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Many D2C brands, including Oziva, Wellness Nutrition, Yoga Bar, and Bewakoof, have also been acquired by traditional brick and mortar businesses like Unilever, Aditya Birla Group, and ITC.⁣
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The company's offline growth, according to Patel, is unrelated to the increased cost of advertising on tech platforms like Meta or Alphabet.⁣

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