Connect with us

Startups

FreakOut invests in 91Springboard under ‘Funding Initiatives’ programme

Published

on

FreakOut invests in 91Springboard under 'Funding Initiatives’ programme

FreakOut, the Singapore-headquartered digital marketing technology company has marked its first investment in the co-working space provider 91springboard. The latest investment in 91springboard is part of FreakOut’s ‘Funding Initiatives’ programme.

The new initiative focuses to grow Indian startups along with helping them to expand their businesses spread in global markets. First of all, the firm is will invest in adtech and B2B startups powered by cutting-edge technology, to support Indian startups to expand their business.

All the startups will also get assistance in business research, sales, and marketing, along with visions and strategic business solutions from FreakOut.

Anand Vemuri, who is the CEO of 91springboard, said, “It is our shared vision of helping startups grow that has brought us together. FreakOut has helped many Asian startups expand into international markets, and together we are confident that we will help many Indian startups grow beyond India’s borders and simultaneously support international companies establish and grow their presence in India.”

FreakOut is a division of FreakOut Holdings and says to be the first mobile marketing platform with in-feed native ads, in-feed video, and television sync products in Southeast Asia. The firm consists of 3,000+ premium publishing partners in the region and its ad network gives employment to 600 people in 16 offices spread across 15 countries all around the world.

Read More: Novozymes opens new laboratory in India to help textile mills

91Springboard is a New-Delhi based co-working space which was founded by Anand Vemuri, Pranay Gupta, Varun Chawla, Deepak Sharma, and Susan Lim in 2012. It started its operations in Delhi in 2013.

The startup offers co-working space for entrepreneurs, business owners, and freelancers with the best facilities. It is now functional in 31 cities all around India.

With the increase in the number of startups, there is a continuous demand for affordable co-working spaces around the country. 91Springboard is one of the earliest startups in the co-working sector and it continues to grow at a splendid pace.

91Springboad recorded a total revenue of Rs 19.8 Cr in the financial year 2017 as compared to Rs 1.3 Cr in the financial year 2016, making an outstanding growth of 1387%. Also, another popular co-working space, Innov8 made a growth of 437% by earning a total revenue of Rs 1.9 Cr in the financial year 2017 as compared to Rs 36.2 lakhs in the financial year 2016.

Also Read: Datatex out with complete solutions for Textile Value Chain

Various other co-working space giving tough competition to 91Springboard include GoWork, BHIVE Workspace, myHQ, Innov8, WeWork, Awfis, and CoWrks.

With the new investment, 91Springboard is very much positive about its growth and looking to expand its services in global markets with FreakOut.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Startups

Delivery Startup DailyNinja acquires Hyderabad-based WakeUpBasket

Published

on

By

Delivery Startup DailyNinja acquires Hyderabad-based WakeUpBasket

Bengaluru-based delivery startup DailyNinja has acquired Hyderabad-based WakeUpBasket in cash and equity deal as the firm wants to expand its services in the city.

Similar to DailyNinja, WakeUpBasket also offers early morning delivery of household products such as milk and groceries along with various other products. The latest acquisition comes just after DailyNinja has acquired 4amShop just a few months ago. From this, it seems that the firm is constantly thriving to expand its services in different cities across India.

WakeupBasket was founded by Satendra Pratap along with Sai Varaprasad in 2016. The startup completes around 2,500 orders per day in Hyderabad. WakeUpBasket has been functioning since last two & a half years in Hyderabad. After this acquisition, all the employees along with founders will shift to the DailyNinja platform.

Also Read: SRTEPC requests govt to include yarns & fabrics in RoSL

Anurag Gupta, Co-founder of DailyNinja said, “Both of these acquisitions have helped us in scaling fast and understanding the local market. We loved the execution skills and passion of WakeUpBasket’s founding team, thus made them Hyderabad City heads and a part of our core team.”

DailyNinja was founded by Sagar Yarnalkar and Anurag Gupta. The firm offers early delivery of everyday products. The firm currently reaches to around 40,000 households daily and has 55,000 subscribers.

Anurag further said, “We are growing at 20% MoM. This has been made possible by launch in three new cities – Chennai, Mumbai and Pune where we are seeing excellent response. We are looking to reach 20,000 daily transactions from Hyderabad in the next six months, as we currently stand at 5000 transactions a day.”

The latest acquisition by DailyNinja has acquired by two sequential rounds of funding. One was $3M in June and then obtained undisclosed amount of funding from venture capital Matrix Partners. The firm main goal is to implement its business model in different cities across India and reach over 1.5 lakh people in the next six months.

Also Read: Foodpanda to seize 2 lakh sq ft working space in Delhi

Continue Reading

Startups

Flipkart teams-up with Bajaj Allianz to provide mobile insurance

Published

on

By

Flipkart teams-up with Bajaj Allianz to provide mobile insurance

E-commerce giant Flipkart on Sunday said it entering into the insurance segment after securing a corporate agent license.

“Flipkart has teamed up with Bajaj Allianz General Insurance to provide customized insurance solutions to power our complete mobile protection programme for all leading mobile brands sold on our platform with Bajaj Allianz,” said Flipkart in a statement.

In the latest initiative, it will provide both cash payout or free pick up, service and drop convenience to customers.

The mobile insurance plan will be valid for a year. The plan will cover accidental screen, liquid damage, and theft for phones. For claims, customers will either have to return the phone for fixing or choosing for a cash payout which will be deposited in his/her bank account.

The complete mobile protection plan starts at Rs 99 and it will be activated from the day on which device is delivered. The insurance plan for the customers will be available from October 10, the same day on which The Big Billion Day starts.

Also Read: Zomato leads in food delivery space with 21 million monthly order run rate

“Insurance is the next initiative in offering customers with excellent after-sales care for their phones. The plan, from purchase to claim, will be completely incorporated into our online platform,” said Ravi Garikipati, who is the senior vice president and head of Fintech.

As per one report, there are about 36% of mobile phone users in India which possess smartphones. As per IDC, the smartphone market in India will reach double-digit growth in 2018.

Tapan Singhel, MD & CEO, Bajaj Allianz General Insurance said, “Bajaj Allianz General Insurance has always been at the forefront in exploring new avenues for our customers and being there for them wherever they are, and this partnership with Flipkart is a step in that direction.”

According to the financial year 2017-18, Flipkart’s Gross-Merchandise Value (GMV) is $7.5 billion and net sales of $4.6 billion, showing 50% year-on-year growth.

Also Read: Indian IT Industry revenue will reach $167 billion in financial year 2018-19

Flipkart consists of one-lakh sellers and it offers 80 million products in 80 categories, along with smartphones, electronics, sports goods, fashion, furniture, etc.

Source

Continue Reading

Startups

Gurgaon based Burger Singh plans to launch 40 new franchise stores

Published

on

By

Gurgaon based Burger Singh plans to launch 40 new franchise stores

Burger Singh is one of the popular fast food restaurants in the New Delhi NCR. It is also the largest chain of homegrown Indian flavour burgers in the QSR category, declared today its plans to provide investment in forty franchises for shop owners across the country.

The investment model which is also referred to as franchise-owned-company-operated is simple and provides guaranteed returns for shop owners with just shop set-up investment. The branch is growing at a rate of 600% YoY with an effective presence in North and West India with 23 outlets is welcoming new franchises in order to expand its services.

Kabir Jeet Singh said, “We are looking to target shop owners only right now. The idea fits our vision to make Burger Singh synonymous with QSR globally. Having established a strong foothold in the Northern and Western region of the country, the franchise model makes sense to expand the business further. It is a win-win for all involved since we get the space, and the shop owners get guaranteed returns on their investment.”

He further added, “Along with the benefits to shop owners, Burger Singh will ensure the highest quality and standards are met and maintained in all upcoming franchises. Our customers are the top priority and there are no compromises there.”

Also Read: Alibaba planning to bring its new retail concept in India

About Burger Singh

Kabir Jeet Singh along with its partner Nitin Rana launched Burger Singh in 2014. The Gurgaon based startup has quickly expanded into a chain of quick service restaurants (QSR) with 25 outlets – 20 in Delhi NCR, one in Dehradun, Pune and Nagpur and 2 in the UK.

Burger Singh specialties include vegetarian Keema Pao, the Pao Bhaji Burger, Malabar Express Chicken Burger & Channa Burger for the vegetarians, Amritsari Murgh Makhani Burger, Jaatputt Chicken Burger, Udta Punjab Burger, Bunty Pappeh Da Aloo Burger and the United States of Punjab Burgers in both vegetarian & non-vegetarian options, amongst others.

It was launched with an investment of 1 Crore, put in by the founders, their families, and friends, the startup has obtained Rs 7.5 Crore in two rounds of funding, one in October 2015 and other in December 2016. Funding has helped the startup to launch new restaurants in different cities across India.

The main purpose of the company is to build the technology to manage the company’s supply chain, and fluent communication between vendors, employees, and customers were some of the main challenges of Burger Singh. Burger Singh was awarded the Most-admired Food Services Chain 2017 in QSR category by India Retail Forum and Best Emerging QSR Chain 2017 by the Indian Restaurant Congress.

Also Read: Govt plans to mix Methanol with LPG to cut subsidy bill by 30%

What are the future plans of Burger Singh?

The Startup currently has a staff of 370 members, gained Rs 9 Crore in revenue in 2017-18 and it is optimistic to tripling its growth by 2018-19. Singh said, “We are expecting a three-fold growth and seek to increase Burger Singh’s outlet count to 38 by the end of this financial year. The idea is to do to the burger space what Domino’s did to the pizza market.” The firm has also signed a contract to launch 18 outlets in the UK, two of which are already started.

Source

Continue Reading

Latest News

Apps4 weeks ago

Best Apps for Diwali Whatsapp Story

As we see the craze of social media getting increasingly more and more with time, we also see the emergence...

Market Research1 month ago

Is it compulsory according to the new law to wear a helmet in India while driving a bike?

Riding a bike on Indian roads is a very big matter of concern, as we all know that Indian roads...

Market Research4 months ago

Building Thermal Insulation Materials Market Size, Top players, Global forecast 2019-2025 : Research Study

The “Building Thermal Insulation Materials Market” report offers a thorough examination of the diverse patterns and factors affecting the development...

Market Research4 months ago

Global Cervical Forceps Sales Market Size and Value Report, 2019-2024 Forecast: Teleflex Incorporated, Pelican Feminine Healthcare, CareFusion (Becton Dickinson), GPC Medical, Medline Industries

The fresh report namely, Cervical Forceps Sales Market Size , Status and Forecast 2019-2028 furnishes essential information on every aspect...

Market Research4 months ago

Alkali-Swellable Acrylic Polymers Sales industry report – Size, Value, Market Share – Research and Analysis 2019

The Global Alkali-Swellable Acrylic Polymers Sales Report comprises thorough insights into the global Alkali-Swellable Acrylic Polymers Sales industry that not...

Market Research4 months ago

Hindered Amine Light Stabilizers Market Forecast, Market Share, Segmentation Analysis For Polymeric, Monomeric, Oligomeric Segments

The Hindered Amine Light Stabilizers market is growing by leaps and bounds. In spite of the volatile economic conditions because...

Market Research4 months ago

Animal Feed Additives industry report – Size, Value, Market Share – Research and Analysis 2019

The Global Animal Feed Additives Report comprises thorough insights into the global Animal Feed Additives industry that not only aids...

Trending

Copyright © 2017 Zox News Theme. Theme by MVP Themes, powered by WordPress.