🏪 Shadowfax dips into dark stores

The most interesting news selected specially for you! 10 October 2024 [View in Browser]( Hello, Is it finally the endgame for BYJU’S? A [lawsuit]( filed in a US federal court alleges the once edtech behemoth unlawfully moved funds intended for creditor payments from its US units to Whitehat Education Technology. The lenders say they spent over a year trying to trace the disputed $533 million, however, Byju Raveendran argued in a filing that the fund was used for a “legitimate commercial purpose.” The company has become emblematic of the state of India’s edtech sector today, which saw a 30% YoY funding decline in the first eight months of 2024, according to Tracxn. However, as upGrad founder Ronnie Screwvala noted at [TechSparks Bengaluru]( this year, the sector doesn’t have to bear BYJU’S burden: “If some unicorns could not make it to the finishing line, that doesn't mean that the entire industry is tainted.” And PhysicsWallah is one such success story. The unicorn, which raised a massive [$210 million]( last month, is now reportedly in talks with investment bankers as it prepares for an IPO. Well, success and failure go hand in hand. Nine out of 10 startups fail, but are founders’ experiences overlooked when they go back to the regular corporate workforce? Some [Redditors]( believe having ‘founder’ in your CV sets off red flags for any prospective employer as entrepreneurs are poor at taking direction and often have difficulty with authority. Lastly, Ratan Tata has been a guiding light for entrepreneurs for decades and his journey offers many [lessons]( on patience in business and embracing social responsibility. Here’s a [throwback]( to when Tata had a job offer from IBM and how he drafted his first resume. In today’s newsletter, we will talk about - Shadowfax’s speedy delivery strategy - Awfis’ road to public debut - Making sports accessible to all Here’s your trivia for today: What is the largest French-speaking city in the world? --------------------------------------------------------------- Logistics Shadowfax’s speedy delivery strategy unit economics of delivering a shampoo in 15 minutes may not work out for D2C brands and vertical marketplaces, but they are still keen to improve delivery speed to match customer expectations in the age of quick commerce and instant gratification. Third-party logistics player Shadowfax is proposing a strategy for the same: a network of dark stores to help D2C brands and sellers of lifestyle products reach their customers faster and in an “economical” way. Rapid commerce: - Shadowfax offers two options: brands can operate their own dark stores and use the logistics company for last-mile delivery, or they can let Shadowfax manage their inventory and deliver within 2-4 hours from the time the order is placed. - The company—which began piloting this model around four months ago—currently operates 10 such stores in Mumbai, Delhi, and Bengaluru. - Shadowfax is not the only logistics player dabbling in dark stores for rapid commerce; its listed peer Delhivery is also considering tapping it. The CEO of Delhivery, during the company’s townhall, said Delhivery would launch a network of dark stores for some clients and assess how they scale up. [Know More]( --------------------------------------------------------------- Funding Alert 1) Samunnati: Rs 1,123 Cr|Debt 2) SPRY Therapeutics: $15M|Undisclosed 3) UrjaMobility: Rs 100 Cr|Pre-Series A --------------------------------------------------------------- TechSparks Awfis’ road to public debut Awfis Space Solutions, a leading co-working and flexible office space provider, recently made waves with its successful initial public offering–the first in its sector to go public in India. In a conversation at TechSparks Bengaluru, Chairman and MD Amit Ramani discussed the motivations behind its public debut. First mover advantage: - Reflecting on the decision to take Awfis public, Ramani said, “From our standpoint, we were always one of the first. We perfected the managed aggregation model, a profit-share system, which had never been done in co-working before—it was only seen in hospitality. We did it at scale.” - Another thing that encouraged Ramani to go public was the continued investor confidence in his company despite global pessimism after SoftBank-backed co-working giant WeWork shut shop, a year before Awfis' IPO. - Ramani highlighted Awfis’s early focus on India's Tier II cities as part of its long-term growth strategy, adding that he believes “India’s $5-10 trillion economy is going to be written in these cities”. [Read More]( --------------------------------------------------------------- Woman Entrepreneur Making sports accessible to all a young age, Sonam Taneja dabbled in sports like badminton, pickleball, padel, football, and volleyball. Her passion for sports eventually led her to become an entrepreneur. Today, she is the Co-founder and Head of Business Development at Hudle, a sports tech platform that connects players with sports venues and helps in optimising facility management. Building sports communities: - Hudle started as a sports events platform in 2016, founded by Taneja’s husband. Later, in 2018, it pivoted and launched its application and community platform. - Sports infrastructure is crucial for women players, believes Taneja, adding that the real problem is not just about getting people to play—it is about having enough good facilities. - With the Hudle platform, all bookings are streamlined online, from eliminating double bookings, simplifying payment processing, to automating memberships, and handling invoicing. [Read More]( --------------------------------------------------------------- From the CapTable Reliance Jio sees large opportunity in India’s small businesses In late August, when Reliance Industries Ltd (RIL) hosted its annual general meeting amidst the usual fanfare, Mukesh Ambani, chairman of the company, laid out his vision for the company over the coming years. While RIL’s AI and deeptech initiatives grabbed the headlines, Ambani’s statements about the company’s telecom arm, Reliance Jio, were no less ambitious. Ambani declared that Jio would double its revenue and EBITDA (earnings before interest, taxes, depreciation, and amortisation) within the next 3-4 years.With the telco already far and away the market leader in terms of retail users, boasting nearly 500 million subscribers in its fold, it is clear that Jio is now looking at the next stage of its evolution—monetisation. However, if it intends to double its revenue in the coming years, Jio cannot rely on its retail user base alone. While the company has previously made attempts to go after large enterprises—a segment dominated by the likes of Tata and Airtel—it now appears to be focusing on smaller businesses.Indeed, at the AGM, Ambani touched on the latter, stating that Jio aims to provide broadband connectivity to 20 million small and medium businesses (SMBs) in India. While not nearly as lucrative as the market for large enterprises, a September investor presentation from Bharti Airtel pegged the market size for connectivity solutions for SMBs at close to Rs 11,000 crore. Key takeaways: - Reliance Jio is looking to connect 20 million small and medium businesses (SMB), RIL chairperson Mukesh Ambani announced during the conglomerate’s August AGM. - This push comes after Jio has seen limited success in its attempts to win over large enterprises as part of its quest to double revenues in the next few years. - While it has secured some big contracts from the government and public sector companies, Tata and Airtel continue to dominate the large enterprise connectivity space. - Instead, Jio plans to woo SMBs by bundling 5G fixed broadband connectivity, its JioBusiness application suite, cloud storage, firewall security, and payments solutions. [Continue Reading]( --------------------------------------------------------------- News & Updates - [Antitrust:]( For the first time since AT&T was dismantled into Baby Bells four decades ago, the US government is weighing the breakup of one of the world’s largest monopolies: Google. The US Department of Justice in a court filing said it may recommend dismantling Google’s core businesses, separating Google’s search business from Android, Chrome, and Google Play Store. - [Cost of war:]( The global economy could face losses of $14.5 trillion over a five-year period from a hypothetical geopolitical conflict which hits supply chains and the insurance market, Lloyd's of London said. The economic impact would result from severe damage to infrastructure in the conflict region and the potential for compromised shipping lanes. - [Twitter fight:]( Brazil’s Supreme Court has lifted the ban on X following its compliance with court orders. The decision marks the end of a month-long suspension after a standoff between X’s billionaire owner, Elon Musk, and Brazilian authorities over allegations of spreading disinformation. --------------------------------------------------------------- Here's what else we have for you Myntra’s ‘Festivals of India’ brings festive authenticity to the fore by weaving together fashion and art In association with Myntra A sparkling chaniya-choli for Navratri, a white-and-red saree for Durga Puja, and an embroidered tussar silk salwar kameez for Diwali. Myntra knows that festivals are special and has launched Festivals [Know More]( --------------------------------------------------------------- Redefining luxury real estate: The Chapter offers customised and creative home-buying experiences In association with The Chapter Ever dreamed about moving from the hustle and bustle of polluted cities to a serene corner of Goa? We’re here to tell you it's possible! YourStory sat down with leaders from luxury residential brand The Chapter to discover how young professionals can design and buy the Goan villa of their dreams. [Know More]( --------------------------------------------------------------- Cloud and video banking: A powerful combination driving customer-centric innovation in finance In association with AWS and VideoCX.io Video Banking: A game changer for customer engagement in India's BFSI landscape India’s BFSI sector is adopting video banking, transforming customer engagement dramatically. With robust technology at hand, financial services providers can meet peak demands without compromising on service quality. Kumara Raghavan, Head of AWS Startup Sales for India at Amazon Web Services, shares his insights on the innovative use of video banking in the BFSI sector for customer engagement, security, and the overall transformation of the banking experience. Tune in to our series, Shaping the future of India's BFSI sector with video conferencing, brought to you by [VideoCX.io]( in collaboration with Amazon Web Services and YourStory. [Know More]( --------------------------------------------------------------- Did you know? What is the largest French-speaking city in the world? Answer: Kinshasa, the capital of the Democratic Republic of the Congo. We would love to hear from you! To let us know what you liked and disliked about our newsletter, please mail nslfeedback@yourstory.com. If you don’t already get this newsletter in your inbox, [sign up here](. For past editions of the YourStory Buzz, you can check our [Daily Capsule page here](. [Feedback]( [Unsubscribe]( [Newsletters](