Category Archives: Business

Top Decile startup fund TDV Partners launches their new fund of Rs 50 Crore

Bangalore, 3rd Oct, 2024: Early Stage focused micro VC firm Trillion Dollar Ventures has announced the launch of their second fund with a total corpus of Rs 50 Crore. The fund aims to back innovative founders with a global outlook from Day 1, supporting companies in the pre-seed and seed stages with cheque sizes ranging from Rs 1-2 crore per startup. The vision of the fund is to collaborate and nurture companies that can potentially become Trillion Dollar Ventures of tomorrow.

Founded in 2021, by Ujwal Sutaria, Founder & General Partner, TDV Partners, is a 2X founder turned investor, thus bringing in founders experience along with investing. He collaborates with entrepreneurs from pre-revenue stages, offering support in brainstorming ideas, finding PMF, gaining early traction and follow-on fundraising. The firm’s investment thesis focuses on backing serial founders or those with deep domain expertise, with a strong preference for high-tech, low-operations businesses. The fund lifecycle has also been kept between 5 – 7 years which is half of traditional fund life cycles that ranges from 10 – 12 years, thus returning capital faster to the LPs for more active deployments.

With the new fund launch, the VC firm will invest in business models like Platform plays, Marketplaces, and Exchange businesses across various consumer tech(B2C) categories such as Spirituality Tech, Fintech, Gaming, Creator Economy, Social, and Consumer Upgrade. TDV is one of the few funds in India today focusing on new category building segments like spiritual tech and consumer upgrade. The firm believes that they are at an inflection point to scout early stage companies in these sectors and back some of the eventual category winners generating a multi-bagger opportunity for the fund.

TDV Partners plans to begin deploying capital from Q3 of this financial year.

Ujwal Sutaria, Founder & GP, TDV Partners, says, “We want to back startups with potential of Trillion Dollar outcomes as our name reflects our genesis of backing startups. We believe in taking non consensus bets which is where a fund makes the alpha. Our proven track record with the last fund has encouraged us to double the target corpus with the second fund and increase the average investment size too. With our first fund, we have provided an exit opportunity within 2 years of investing in the company and generated over 60% IRR. The Fund I MOIC is 3 within two and a half years. We are confident of continuing our track record with the new fund as well.”

The Fund has already been receiving strong commitments from LPs in India as well as across countries like US, UK, UAE, SG further validating the early stage investment model and the high returns it can generate. The backers include top global unicorn founders, family offices and many CXOs across industries globally.

“There are few pre-seed focused funds in India, creating a bottleneck for visionary founders to raise capital quickly. We want to fill this market gap and provide support, access and growth to startups in addition to capital infusion,” he adds.

The due diligence process at TDV Ventures places a strong emphasis on founders. Significant time is spent understanding what founders are building, why they are building it, their vision, and how they plan to execute. This includes exploring the type of company they aim to create. Alongside traditional evaluations such as market size, competitor landscape, and potential to win, TDV Partners also focuses on how they can add value to the founders and their startups, making this a key differentiator in the investment process.

TDV Partners anticipates making 10-12 investments annually. Ujwal, with six+ years of startup investing experience and having run TDV Partners for the past three years, has already backed more than 30 companies, half of which have gone on to raise subsequent funding rounds.

Ujwal Sutaria has extensive experience in venture capital and entrepreneurship. Previously an Associate Director at InnoVen Capital, he managed companies like Swiggy, Eruditus, Licious and Blackbuck. A 2X entrepreneur, Ujwal founded Athletto and FruitOn, and began his career at Powergrid, handling commercial aspects of their multibillion assets across India.

Tata Motors registered total sales of 2,15,034 units in Q2 FY25

Bengaluru, October 3, 2024: Tata Motors Limited sales in the domestic & international market for Q2 FY 2024-25 stood at 2,15,034 vehicles, compared to 2,43,024 units during Q2 FY 2023-24.

Domestic Sales Performance:

Commercial Vehicles:

Domestic sales of MH&ICV in Sept 2024, was 14,190 units vs 18,577 units in Sept 2023; In Q2 FY25 it was 37,372 units, compared to 45,174 units in Q2 FY24.

Domestic & International sales for MH&ICV in Sept 2024, was 14,839 units vs 19,199 units in Sept 2023; while in Q2 FY25 it stood at 39,433 units, vs 46,865 units in Q2 FY24.

Mr. Girish Wagh, Executive Director, Tata Motors Ltd. said, “Tata Motors Commercial Vehicles domestic sales at 79,931 units in Q2 FY25 were ~19% lower than Q2 FY24 sales. Sales in September 2024 were ~11% higher compared to August 2024. 

Slowdown in infrastructure project execution, reduction in mining activity and an overall drop in fleet utilization due to heavy rains resulted in the HCV segment record a 25% YoY decline in Q2 FY25 and the ILMCV segment register a 11% decline. The resilient demand in the passenger commercial vehicles business saw it register a 3% increase in Q2 FY25 over Q2 FY24. SCVPU volumes decline by 25% YoY, and we expect a gradual improvement as we press on with initiatives to address challenges in first-time user financing.

As we move forward, with the rains easing, increased infrastructure spending, and the arrival of the festive season boosting consumption, we anticipate demand to pick up gradually in Q3, led by ILMCV and Buses, followed by M&HCV and SCVPU.”

Storyblok partners with Deloitte Digital

Deloitte Digital uses Storyblok to complete tailored experience delivery tasks in 2 hours instead of 2 days

New York, NY – 10am EST – September 30, 2024 – Storyblok, the modern content management system (CMS) for all teams, has added global creative consultancy Deloitte Digital as a Certified Partner. Storyblok’s Certified Partners are a selected group of agencies that are best-equipped to help brands implement the CMS to accomplish digital transformation projects.

Deloitte Digital started its journey with Storyblok while building a Sustainability & Climate website for its parent company, Deloitte. The agency wanted to use an efficient CMS that fits the mission and message of the website.

Thanks to the flexibility of Storyblok, Deloitte Digital was able to meet its efficiency goal by using Storyblok for content creation, editing, and then exporting the published content to a monolithic CMS used for hosting the website.

Once the developers and content team experienced the productivity benefits of Storyblok and its easy-to-use Visual Editor through this project, they started using it to quickly develop website concepts for new customers using composable components.

Christian Hartkemeyer, Senior Manager at Deloitte Digital, said: “It only takes 2 hours to complete the delivery of tailored experiences in Storyblok that used to take 2 days in other CMSs. The more we use Storyblok, the more we want to use it for other internal and customer projects. Being a Storyblok Certified Partner means that our customers can trust us to deliver similar results for them.”

Barry D’Arcy, VP of Partners at Storyblok, said: “Deloitte Digital’s expertise in digital innovation underscores Storyblok’s flexibility as a powerful CMS. From strategic digital initiatives to comprehensive transformations, their proven experience allows us to deliver exceptional content solutions globally. Together, we are empowering more brands to embrace modern content management and unlock the full potential of their digital experiences.”

FICCI’s Two-Day R&D Summit to Promote Innovation in India’s S&T Sector

New Delhi: The Federation of Indian Chambers of Commerce and Industry (FICCI) is set to host the FICCI Bharat R&D Summit 2024 on October 3rd and 4th at Federation House, New Delhi. This two-day event will bring together thought leaders from industry, academia, and government to explore avenues for collaboration in research and development (R&D) and innovation.

The summit will feature key sessions addressing critical topics, including the commercialization of research, fostering startup ecosystems through Science & Technology (S&T) clusters, and global best practices for R&D funding. The event will also highlight successful case studies of industry-academia partnerships and feature a showcase of groundbreaking research projects with potential for commercialization.

Senior officials from the Department of Science & Technology and Office of Principal Scientific Adviser to the Government of India will share their insights related to R&D. Leaders from TCS, Reliance, Adani, etc will share industry perspectives at the programme.

Various R&D institutes and Universities would be showcasing their research work, which is available for commercialization. A committee has been set up by FICCI to evaluate the research work, which industry could look at for possible commercialization.

The event promises to be a crucial platform for fostering dialogue and action, paving the way for stronger R&D infrastructure and partnerships in India.

Knauf India Leads the Way in Meeting ISI Norms for Plasterboard Products

New Delhi, 30th September 2024 – Knauf India, a leading name in building materials and part of global Knauf Group, has announced that all its plasterboard products now comply with the Bureau of Indian Standards (BIS) ISI norms. Knauf is one of the first companies in India to meet the new government regulations, which require gypsum-based building materials to adhere to stringent Indian Standards Institution (ISI) norms.

With a strong focus on quality and innovation, Knauf India has always delivered products that exceed industry expectations. Known for its contributions to the building materials sector, including advanced drywall systems, gypsum ceilings, and plasterboards, Knauf continues to set the benchmark for excellence in construction solutions. As part of the Knauf Group, which operates in over 90 countries and runs more than 300 manufacturing plants globally, Knauf India is committed to both international and local quality standards.

Sumit Bidani, the CEO of Knauf India said: “Knauf India, is proud to be the first company in the market to achieve full compliance with the new ISI standards for plasterboards. This milestone is a reflection of our ongoing commitment to quality, safety and sustainability. We believe these standards will further enhance the trust our customers and partners place in us.”

Manufactured at state-of-the-art facilities in Rajasthan and Andhra Pradesh, Knauf India’s plasterboards now meet the IS 2095 (Part 1): 2023 standards. These standards ensure the products meet the stringent safety, fire-resistance and durability criteria, essential for modern-day construction demands.

Knauf India continues to ensure its products undergo rigorous BIS test and certification, giving customers and the concerned stakeholders peace of mind when it comes to safety and quality in construction business.

Paytm announces Travel Carnival this festive season, save up to Rs5,000 on flights, 25% off on bus and train tickets

One97 Communications Limited (OCL) that owns the brand Paytm, India’s leading payments and financial services distribution company and the pioneer of QR, Soundbox and mobile payments, has announced Paytm Travel Carnival with exclusive festive offers on travel bookings starting from September 26th to October 5th. The company is offering special discounts on flights, trains, and bus bookings, enabling users to plan an affordable festive travel.

With savings of up to ₹5,000 on flights, this is the ideal opportunity for Paytm users to book their festive getaways. Through partnerships with top banks, like ICICI Bank, RBL Bank, Bank of Baroda, and AU Small Finance Bank, Paytm is offering up to 15% instant discounts on domestic flights and up to 10% on international flights. Users can apply promo codes like “ICICICC” for ICICI Bank, “FLYRBL” for RBL Bank, “BOBSALE” for Bank of Baroda, and “AUSALE” for AU Small Finance Bank to unlock these discounts.

For bus travellers, the company is offering a flat 25% discount of up to ₹500 through collaborations with Bank of Baroda, ICICI Bank and AU Small Finance Bank. With no minimum spend requirement, it’s easier for users to save on travel.

Paytm continues to enhance the travel experience with its comprehensive train booking services. Paytm’s Ticket Assure service helps users secure confirmed train tickets with ease, offering options such as nearby stations, connecting trains, and flexible travel dates. Train bookings are further simplified with Zero Charges via UPI, Live Train Tracking, and PNR Status —all available on the Paytm app for a hassle-free journey.

As an authorized partner of Indian Railway Catering and Tourism Corporation (IRCTC), Paytm ensures a smooth and quick booking experience. With Paytm’s Free Cancellation feature, users can now receive a full refund on flight, bus, and train tickets when plans change.

Paytm spokesperson said, “As the festive season approaches, and people from across the country plan their travel to their hometown or their vacations, we are excited to bring exclusive offers, making their journeys more affordable and convenient. With partnerships across leading banks, we aim to offer savings on flights, trains, and buses, ensuring that millions of Paytm users can travel stress-free.”

Rolls-Royce Debuts Cullinan Series II in India

30th September 2024, India

· Rolls-Royce Motor Cars Chennai debuts Cullinan Series II in India: a bold evolution of the world’s pre-eminent super-luxury SUV.

· Cullinan Series II directly responds to changing codes of luxury and client use cases.

· Cullinan is driving significant interest globally as well as locally; it remains the most requested Rolls-Royce within the marque’s product portfolio.

· Black Badge Cullinan Series II also becomes available in India, tailored to those seeking a more visceral interpretation of Rolls-Royce.

From 27th September 2024, Rolls-Royce Motor Cars Cullinan Series II debuts in India.

“The debut of Cullinan Series II in India represents a significant milestone for Rolls-Royce in the Asia Pacific region. Since its original launch in 2018, this remarkable motor car has attracted a younger and more diverse group of clients, and today Cullinan is the most requested Rolls-Royce in the marque’s portfolio. Cullinan Series II integrates new technologies, new materials, meticulously considered design updates and innovative opportunities for self-expression through Bespoke.” Irene Nikkein, Regional Director Asia-Pacific, Rolls-Royce Motor Cars

The original Cullinan, launched in 2018, was the world’s first super-luxury SUV, fulfilling a unique and exacting brief. From a performance and engineering standpoint, it had to have genuine off-road capabilities equal to the most demanding and hostile environments on Earth. At the same time, it had to deliver the marque’s peerless comfort and signature ‘magic carpet ride’, regardless of the terrain. It had to be nothing less than the definitive super-luxury SUV —rugged yet refined, unstoppable yet serene: effortless, everywhere. Its success exceeded Rolls-Royce’s most ambitious expectations around the world, and today Cullinan is the most requested Rolls-Royce in the marque’s portfolio.

Given the motor car’s extraordinary success, and incredibly positive reception from clients in every region of the world, shaping a new expression of the ‘Rolls-Royce of SUVs’ was undertaken with meticulous care. The marque’s designers, engineers and craftspeople drew on half a decade of detailed client feedback, the brand’s own intelligence gathering — including our Private Offices around the world — and a raft of new technologies to advance Cullinan. In its new guise, which represents the most extensive Series II development in Rolls-Royce history, it responds to changing codes of luxury and evolving usage patterns while remaining true to the essential qualities that underpin Cullinan’s unprecedented popularity.

Clients can commission Cullinan Series II and Black Badge Cullinan Series II at Rolls-Royce Motor Cars Chennai and Rolls-Royce Motor Cars New Delhi. Pricing for Cullinan Series II in India starts from Rs. 10,50,00,000. Pricing for Black Badge Cullinan Series II starts from Rs. 12,25,00,000. First local client deliveries will commence from Q4 2024.

Rolls-Royce pricing is dependent on client specification. Each Rolls-Royce is Bespoke.

COMMANDING THE URBAN SPACE

Since the first client deliveries, Cullinan fulfilled its purpose as a supremely accomplished off-road motor car, capable of taking its owner into locations never previously explored in a Rolls-Royce. However, versatility and the effortless everywhere essence of the model also made Cullinan a ‘daily driver’ for many owners; indeed, numerous clients have told Rolls-Royce that no other SUV offers the same effortless performance as Cullinan’s 6.75-litre V12 engine, from what is often a substantial and diverse collection. These were all significant considerations in conceiving Cullinan Series II.

It was noted by the marque’s intelligence specialists that an increasing number of Rolls-Royce clients were concentrated in urban areas – from great world metropolises to fast-growth cities in emerging regions. To that end, Cullinan increasingly serves as a super-luxury product in which clients wish to be seen and project their character – albeit with the capacity to vanish into nature at will. Specialists also observed a shift towards owners driving their motor cars themselves. When Cullinan was first launched, less than 70% were self-driven: today, almost every Cullinan is driven by its owner, with less than 10% of clients retaining the services of a chauffeur. Together with the rejuvenation of the brand and the ever-increasing Bespoke offering, Cullinan contributed to a fall in the average age of Rolls-Royce clients from 56 in 2010 to just 43 today.

An increasingly urban focus, a youthful cadre of clients and a decisive shift towards self-driving informs the surface treatment and detail of Cullinan Series II’s exterior. A key theme is verticality, which echoes illuminated skyscrapers in the megacities where Cullinan is increasingly at home. This is most apparent in the new lamp treatment, where tall daytime running light graphics ensure Cullinan Series II is easily identified, day and night.

Reflecting many clients’ desires for bolder forms of self-expression, innovative decoration and detail have been added throughout the interior of Cullinan Series II. The most substantive change to the motor car’s geometry is the pillar-to-pillar glass-panel fascia in the upper portion of the dashboard – an elegant and versatile design element that stages both digital and physical craftsmanship.

Connectivity has been refined throughout the motor car, especially for those in the rear of Cullinan Series II. Clients are able to connect up to two streaming devices to the rear screens, which now incorporate a Bespoke interface for streaming car management and seating functions such as massage, heating and cooling.

The installation of internet connectivity allows clients to enjoy a Wi-Fi hot spot connection and independent streaming for each screen. For the first time in Cullinan, Bluetooth headphones of any type can be paired with the rear seat infotainment system, or clients can enjoy the marque’s exceptional 18-speaker Bespoke Audio system, which benefits from the latest generation 18-channel 1400-watt amplifier. Cullinan Series II retains the brand’s celebrated speaker architecture wherein cavities within the motor car’s aluminium sill sections are used as resonance chambers for low frequency speakers, effectively transforming the entire motor car into a subwoofer.

Directly in front of the passenger is an Illuminated Fascia panel — a remarkable expression of modern craft that debuted with Ghost before appearing in Spectre and now, for the first time, is available within the Cullinan family. In this guise, it features an illuminated Cullinan wordmark and a unique Cityscape graphic inspired by the skyscrapers of the world’s megacities at night. This is created using a specially-developed technique whereby 7,000 dots are laser-etched onto the rear of the darkened and toughened security glass, each at minutely differing angles and dimensions to create the perception of depth. In addition to this prêt-à-porter design, clients are also able to create their own Illuminated Fascia motif in collaboration with the marque’s Bespoke designers.

Incorporating the Spirit of Ecstasy into the interior of the motor car was the product of four years of development, and a unique partnership between analogue and digital craftspeople to create a dramatic and meticulously orchestrated flow of light. This sequence begins with the illumination of the driver’s display upon entering the motor car, followed by the Central Information Display, then the Illuminated Fascia, where light sweeps inwards towards the vitrine, lighting the timepiece. The Spirit of Ecstasy is illuminated from below initially, reminiscent of a spotlight on a debut performance, before her stage lighting settles to a soft glow.

CULLINAN SERIES II: A LEGACY FURTHERED

Cullinan built a new legacy for Rolls-Royce Motor Cars, shaped in collaboration with a bold and uncompromising generation of super-luxury consumers. Cullinan Series II evolves and builds on this motor car’s place in the brand, proving once more that the future of this marque will be shaped in partnership with its clients and characterised by exquisite contemporary crafts.

Founder, Saurabh Luthra Unveils Romeo Lane’s Expansion Roadmap

~Join the Journey to 40 New Cities and International Destinations

Saurabh Luthra’s Romeo Lane, currently established in 11 cities across India, is poised for significant expansion. Plans are underway to extend its presence to an additional 40 cities domestically and to launch international branches. This expansion is driven by Saurabh’s vision to cater to diverse guest experiences throughout the day, transforming Romeo Lane into a preferred destination for family dining at lunch and a vibrant nightlife venue in the evenings. Targeting metropolitan and tier-2 cities in India, Romeo Lane aims to meet the rising demand for exceptional dining and nightlife. Internationally, the brand eyes entry into key cities in the Middle East, Southeast Asia, and Europe, leveraging its appeal with a blend of Indian and global cuisine and dynamic nightlife offerings.

As part of this expansion, Saurabh Luthra envisions enhancing Romeo Lane’s offerings with new seasonal specialties, innovative organic cocktails, and exclusive dining experiences. Collaborations with local suppliers, event organizers, and technology partners will further bolster Romeo Lane’s growth strategy, ensuring operational excellence and maintaining the highest standards of service.

Saurabh Luthra’s leadership at Romeo Lane epitomizes a commitment to culinary excellence and customer satisfaction. Under his stewardship, Romeo Lane has evolved into a beloved destination renowned for seamlessly integrating fine dining with vibrant nightlife experiences. His strategic vision and hands-on approach have fostered a culture of innovation, ensuring Romeo Lane remains at the forefront of Delhi’s dynamic food scene.

The recent success of Romeo Lane can be attributed to Saurabh Luthra’s relentless pursuit of offering exceptional dining experiences that resonate deeply with patrons. By actively listening to customer feedback and swiftly adapting to market trends, Saurabh Luthra has positioned Romeo Lane not just as a restaurant, but as a cultural hub where each visit promises culinary delight and memorable moments.

For more information on Saurabh Luthra’s leadership and Romeo Lane’s expansion plans, please visit www.romeolane.com.