The journey of entrepreneurship with eChai Ventures has been like navigating through a maze illuminated by candid conversations.

It’s been 6/7 months of hosting much loved Breakfast Social in Bhopal. Building SOQO I always longed for a community, their insights, support and network.

While the path may not always be paved with gold, our small group meet-ups have been a beacon of hope.

Saw so many people collaborating outside our meet-ups. What little people understand about building community is faster returns on time spent.

They say together, we forge connections and share experiences, reminding ourselves that success is not just about going fast, but about going far - and going far together.

Here's to eChai Ventures for providing the platform for meaningful connections and collective growth. 

Here’s to people who make it better, coz so much can be achieved by just showing up ✨

#community Jatin Chaudhary

Kush Prajapati Ekta Shah Srijan Sharma Meenal Rai Shejwar Divya Sadhwani Arihant Arya Vinay Dhok Sneh Nigam Aleena Zahid Priyanka Gupta

Conversations going beyond businesses but all align to make businesses bigger n better.

It was fun being part of today’s eChai SaaS Social at Magenta Insights office.

One journey setting path for another journey. Problems/Challenges bringing people together for bigger - brighter and more productive solutions.

Thanks you

Vikas Mundhra

and

Jatin Chaudhary

! cannot miss to mention - the happiness bell  is such a motivating n cute thing. 

Entrepreneurs present are great minds bringing innovative solutions.

And we all sneaked in for a quick photo shoot. Looks fab. Great places designed for best working - Devx.

Cheers

Founders, Investors, Enablers- Who are you listening to?

Over the last few weeks I've been constantly trying to rediscover learning through podcasts and here are some of them that are on my radar-

🎙 Seed to Scale by Accel - A podcast series highlighting the journey of various founders while launching a 2 podcast series with the Accel team from across the globe - Jim Swartz, Anand Daniel, Sameer Gandhi, Harry Nelis, Mahendran Balachandran celebrating their 40 years in the VC industry in 2023

🎙Blume Ventures podcasts - Season 1 on XUnicorns followed by Season 2 focusing on Power of Compounding where Karthik B. Reddy hosts founders like Peyush Bansal, Raamdeo Agrawal who have excelled at compounding from the last decade to almost half a century

🎙Matrix Moments by Matrix Partners India - Highlighting human capital while also discussing trends of 2023 and 2024 hosted by Rupali Sharma ranging to over 180 episodes over different seasons and topics

🎙DesiVC by Akash Bhat - Candid conversations with leading investors from across India with insights from Akash's journey as a founder and investor having spoken to 127+ people. This one has been on my list for over 3 years now

🎙Indian Silicon Valley podcast by Jivraj Singh Sachar- Intricate conversations with founders, investors, and enablers in the Indian start-up ecosystem spanning 161 episodes and more. Jivraj has been closely associated with the start-up and investment ecosystem bringing out his unique perspective through the questions he asks his guests

VCs have extensive insights and access to diverse information. They have access to insights ranging from an industry understanding brought together by cumulative team experiences, in-depth sector focus, and access to real-time information through their portfolio companies. Often these insights stay unshared or when shared, undiscovered by some of us. This year I'm on a mission to uncover some of the most insightful podcasts and will keep sharing as I keep listening.

So what are you listening to, to stay up to date? Drop startup and investing podcast recommendations in the comments. I'm sharing links to the ones I've mentioned above in the comments too.

We'll be hosting eChai's SaaS Social today evening in Ahmedabad.

Small Group. Candid Conversations. SaaS Folks.

We'll have parallel consumer business social also. Later on we'll have common gathering with both the groups.

More info at https://echai.ventures/events/echai-saas-social-in-ahmedabad-feb-07-2024

Finally, the design is here...

Compact CRM in smart watches Phase -1.
Focused on Sales Performance, Lead Tracking & Information Review with Sources

Summary

This case study explores the user experience (UX) of a Watch OS CRM focused on three key features:

• Viewing overall monthly sales performance,
• Tracking new leads, and reviewing lead information with a call feature.

This represents the first part of a multi-phased project, with further core features like task management to be implemented in phase 2.

(You can also check the full case study
https://lnkd.in/gXP-X2Pk)

Community where this idea is born
eChai Ventures

 

eChai Ventures New York will be hosting the small gathering of founders and startups folks on 16th February, Friday from 6.30 pm to 8.30 pm EST.

eChai Startup Socials are volunteer driven small gatherings with founders and startup folks happening all over the world.

These meetups are free to attend and open for all.

Format: Small Group. Candid Conversations. Startup Folks.

Date & Time: 16th February, January. 6.30 pm to 8.30 pm EST.

Venue: Mr. Purple, 180 Orchard St 15th floor, New York, NY 10002, United States

Map link: https://maps.app.goo.gl/ikjdUKCApzbZFbAq8

For any queries you can reach out to Harsh Thakkar, Co-Founder, Wall over WhatsApp at https://wa.me/‎19175920677

So aaj baat karte hai Sales ki , Sales kya hai and jo bhi hai that is according to me. We can agree to disagree. (This is not AI generated :D )

So I was fired from my job in 2007 for being the worst salesman, as my sales for 6 months was ZERO. That was my first sales job as well.

Fir koi job nahi de raha tha to I started on my own, apporached 200+ customers for my services and finally I got it. It's not the subject of classroom learning but the subject of Action. Do 100 cold calls and you will know and you can see the difference between your first cold and call and 100th.

Then to sharpen my skills, I started learning Sales Techniques and Psychological techniques but at the end Click wahi hua jo hona chahiye tha, today I consider myself a good salesman. My learnings in this journey are

- You don't need techniques but you need authenticity

- Sales is not about processes, openings and closures but It's about People , Understanding people is the key.

- Instead of selling, focus on value creation (waise ye sab pahele bhi 100 baar sun ya padh chuke honge )

- If you have empathy , connection , authenticity, Integrity then you understand your customer , team members , partners far better way and that's the key to sales.

- Last is face your fear. Cold calls are most difficult for many people but once you pick up the call and talk like a human , you will realize that person on other side is same and you can have a good talk at least.

Photo story : I am doing what I love doing most, Sales.

DevX Coworking Raises $ 7 Mn Funding

DevX, Gujarat’s largest Managed Office Space provider, today announced that it has raised funding of $ 7 Million with a mix of equity & debt split equally. Family offices such as Urmin family office, Gala family office, Bidiwala family office already on captable participated in the equity round, which showcases testimony to the growth model, alongwith HNIs like Ajay Patel, Mitesh Patel and Soham Mehta; while Debt funding was provided by Banks & NBFCs. 

Gujarat’s leader in the Managed office space segment, DevX is a co-working space cum accelerator founded in September 2017 by 3 entrepreneurs. The company was envisioned as a Startup Accelerator focussed on nurturing innovative startups by providing them with all requirements. Positioning DevX as an equal partner in growth, the company supports through their allied strategic partnerships and services. The different initiatives of DevX are thus structured to build synergies, enabling crosspollination of ideas as a means of collaborative growth and development. The company’s initiatives address different requirements across the value chain. 

Speaking on the funding, Mr Umesh Uttamchandani, Co-Founder – DevX said, “This funding comes at a time when we are bullish on growth in both the national domestic & global markets. The funds will be deployed for giving further impetus to our national and global expansion goals. For India, this infusion of funds gives us the boost to add more inventory to grow vertically across cities – signing up Assets with more than 2 lakhs sq feet. Putting in place even stronger governance practices; we plan to get listed next year and also build a Proptech solution for design & build offering. We are proud to be setting standards for the segment to aspire to; with our stated business goal of being the partner of choice for GCCs (Global capability Centres) & ODCs (Offshore Development Centres). Growthcentric corporates are increasingly opting for managed workspaces, which perfectly meshes with our philosophy of offering best-in-class work-space experiences at competitive pricing.” 

Opining on the event, Mr Devansh Majithia, Urmin Family Office said, “We are proud, yet again, to be part of this funding round. DevX’s innovative approach to providing an immersive, value drive experience for its tenants perfectly aligns with our own Investment philosophy. Their track-record of sustained growth and in-depth domain expertise have been core factors in driving our participation in this funding round”. 

As a core part of the ecosystem, DevX also provides, round the year, a platform for industry, academia, professionals and companies to hold hackathons, seminars, events etc…to address trends and issues. The company is planning further expand and thus consolidate it’s pan-India presence by 2024 end. 

Notes for founders raising funds for the first time

BabyOrgano has raised the funds from DevX Ventures.

During our pitches to various investors, we've recognized that the transparency of our business model and the founder's honesty have been pivotal in garnering positive responses.

Key pointers:

Conversations with startup founders can be so jam-packed with energy, insights, and ideas! And these are even richer in a casual setting, like at today's Social event by eChai Ventures.

It was a pleasure getting to know you,

Janvi Tiwari

  and

Srijan Sharma

  ! Your energy and mission are very inspiring - all the best for the road ahead. 😊

Honoured to be a part of this amazing panel alongside the amazing Ming Xia HO of Draper Startup House, Ramesh Loganathan of International Institute of Information Technology Hyderabad (IIITH) and Charu Dhyani of Pro Zero Carbon.

We will be speaking about the essence of community building in business. Join us today and bring on your questions.

RSVP:
https://lnkd.in/g3tfyK5U

Notes from Startup Exits and M&A Forum

It’s important for both the companies - the company being acquired and the acquirer - to evaluate not just products, services and financials but also whether there is culture fit between the leadership and the team at large.

⁠Due Diligence can bring to light compliance issues as well some times and it is ok. As long as it does not show gross negligence or mis-representation in data, Due Diligence typically goes through.

Diligence at the time of acquisition and diligence at the time of fund-raising are quite different. At the time of acquisition, it is much more focused on team, technology, GTM channels and financials while diligence at the time of fund raising is mostly legal and financial with some attention to other aspects.

It’s difficult for startups to plan for an exit. The plan should be created to become valuable for customers - everything else typically follows.

I am thrilled to announce the launch of FoodGPT, a revolutionary tool in the Consumer Packaged Goods (CPG) industry, designed to provide powerful and unparalleled consumer insights. 🎉

"Unlocking Consumer Insights: FoodGPT" 💡

As a leading AI startup in the CPG industry, we understand the challenges of staying ahead in the competitive landscape. That's why we are proud to present FoodGPT, a specialized vertical tool that goes beyond the capabilities of general-purpose models like OpenAI's GPT-4 and Google's LaMDA, providing CPG brands with deeper and more accurate consumer insights.

🔍 How is FoodGPT Different? 🔍

📈 Unrivaled Volume & Variety: FoodGPT has been trained on an extensive dataset of over 61 Billion data points across 24 geographies in 17 languages, making it incredibly accurate in understanding global consumer preferences, habits, and desires. With this enhanced precision, businesses can make well-informed decisions and create products that resonate with their target audience.

💡 Solves Hallucination: For the same question, FoodGPT answers quantitatively with exact consumer drivers along with percentages and data points and provides reference links compared to generalized models that answer more qualitatively with no to very less quantitative information.

💬 Granularity: Generalised models create a very high-level concept since they've been trained on Wikipedia, articles, and books. FoodGPT, on the other hand, is trained on a domain knowledge base that allows the granular level answers to the F & B related questions and text generations.

🚀 Embrace the Future of Consumer Insights with FoodGPT! 🚀

At FoodGPT, we believe that understanding consumers is the key to building successful and sustainable brands. With our state-of-the-art tool, we are empowering businesses to make data-driven decisions, achieve innovation, and foster meaningful connections with their customers.

👉 If you want to gain a competitive edge and be at the forefront of consumer trends, reach out to us at [email protected] to witness the future of consumer insights!

I'm incredibly excited to announce the AICamp!  (https://x.com/shreya_gr/status/1753045008507355374?s=20)

Special Thanks to

Mehul Fanawala

  and

Dhaval Nagar

  for being early adopters and helping us in shaping the platform 🙏

AICamp allows your entire team to work together in a shared and collaborative workspace, utilizing all premium AI models(GPT3/4, Claude and many other ). Empower your entire organization with role-based access and detailed AI usage analytics.

Key features:

* Multiple LLMs in Single Interface
* Bring your own API key for any LLMs (Pay as you go!)
* Unlimited Chat History
* Share Chat/Prompt with Team Members
* Single API for entire organization / Easy to manage and light on pocket!

Currently it's for individual use and team version will be release on 10th feb.

Where I am seeking help:

* Feedback and improvement idea from folks who use AI in their day to day life.
* Any team specific feature that you might think to must have.

Where I can help you:

* Building products
* GTM
* Opensource growth

PS: please connect your paid openAI keys to see how it works (aicamp.so)

 

#Throwback

🚀 Recently, I had the opportunity to join an insightful panel alongside some incredible minds - Vandana Jain from Evident Capital, Priyank Jain, Co-founder of Soup-X, and the insightful moderator, Riten (Fueler).

Initially, I had my reservations, but thanks to Jatin Chaudhary's generosity in extending multiple invites, I decided to dive in. Grateful that I could overcome my inhibitions.

I questioned whether I could bring anything new to the table, considering my previous engagements on similar topics. It felt like everything I could share was already out there, accessible as playbooks or online courses. And as for my own and my brand's journey, well, it's right there on the internet for anyone to read.

But here's what this experience taught me:

1. Sometimes, we underestimate the value of our unique insights and journeys. We might think we've shared enough knowledge already, but there's always a fresh perspective or a new angle to offer. Your experiences are your own, and they can resonate with others on their own entrepreneurial journey.

2. The D2C space in India has indeed seen its fair share of repetition, especially in the post-COVID world. It's easy to fall into the same patterns and practices, but true pioneers stand out through innovation. Let's challenge the status quo and explore ways to set ourselves apart, beyond just products and sales channels.

Speaking at Draper Startup House and eChai Ventures event(s) is always a joy, and this time, it reminded me of the unique energy in Bangalore's startup ecosystem. It's an energy unlike any other, with an audience whose enthusiasm and thirst for knowledge were truly palpable.

And as we navigate the D2C landscape in India, let's remember that innovation, sustainable growth and authenticity are our guiding lights. While fundraising remains crucial, our focus should remain on building robust foundations, delivering exceptional customer experiences, and nurturing our long-term vision.

Here's to more enriching conversations and pushing the boundaries of D2C in Bharat! 🚀🇮🇳

#Throwback

🇮🇳 #Bangalore: Would you attend a startup demo day on a Saturday evening?

4 years since I last saw Jatin at DSH Singapore for eChai Ventures, we finally caught up IRL – this time co-hosting an eChai #startup pitch event and #investor panel discussion at DSH Bangalore. Our roof was filled with 130+ #entrepreneurs and investors.

Here are some learnings:

⏳45 DAYS to 6 MONTHS

Is the duration for which due diligence, getting a term sheet, to receiving money in the bank can take up to in the process of startups #fundraising (as a gauge) 🪙

📚 RESOURCES

– Venture Deals by Brad Feld is a great read to prepare founders who are #raisingcapital

– indianvcs.com is a pooled resource built by some VC folks, for entrepreneurs to have access to investor contacts (built with Notion 🔥)

🤝🏼 KEEP IT PERSONAL AND PROFESSIONAL

– Before reaching out to an investor, research on the fund and what they invest in.

– Be genuine and authentic. Dishonesty is a red flag; The industry is interconnected, and will soon find out 🚩

–

Seeing is believing. I wouldn't have imagined a pitch night on a weekend evening being full house, and the energy is uplifting.

Thanks a ton to the investors for their valuable insights (Vijetha, Himansu, Bikramjeet, Mohammed Amaan Memon) and all the entrepreneurs who came to share their vision and business ideas with us 🚀 ... Not forgetting one of the best hyper-connectors and startup enablers around: Jatin 💯


WHO SHOULD I MEET NEXT? 😁
I've been here for two weeks already, but will be based out of Draper Startup House #India for the next couple more – I'm happy to connect with #founders, #startups, #investors, ecosystem partners and would love to meet others who are also enabling the startup community! Thanks for the recs 🙌🏼


Loving this journey so far!
Stay tuned for updates from BLR 🇮🇳

Things to keep in mind during fundraising for early stage founders.

1. It is crucial to meticulously select a list of venture capitalists whose interests align with those of your company. This strategic alignment ensures that both parties are working towards common goals, thereby fostering a more fruitful and synergistic partnership.

2. View funding primarily as a catalyst for growth. Often, funds raised merely for the purpose of survival can lead a company into a detrimental cycle. Instead, focus on utilizing capital to accelerate development and expansion, thereby enhancing the company's long-term viability and success.

3. Be aware that certain aspects of your business may raise concerns or 'red flags' from an investor's perspective. It is imperative to continuously strengthen the 'green flags' or positive aspects of your venture. By reinforcing these strengths, you can effectively mitigate the impact of any potential red flags and present your business in a more favourable light to potential investors.

Things to keep in mind during fundraising for early stage founders.

There are no permanent ‘No’s. When an investor passed on your deal, ask for permission to keep them updated every quarter and then enrol them into a list to which you send out a quarterly update across your product, team and growth. You never know when interest in your startup might peak.

Fundraising is a full-time activity for 1 founder. Pitch to as many people as you can. Pitch, Ask for feedback, improve, repeat.

At early stages, valuation is more of an art than a science. Ultimately, when you are at the negotiating table - everything falls back to how desperate you are to raise and how convinced they are to invest in you.

Things to keep in mind during fundraising for early stage founders.

1) It is very important to know/understand when is the right time to raise funds. Don’t raise at the last minute else you won’t have any leverage.  Also consider there may be multiple ways to increase your company’s cash including debt options 

2) In the struggle between balancing funds and growing customers,  try to focus on growing customers using any means necessary.  Remember if there is growth, funds will follow. 

3) During the process of raising funds, anything could go wrong. Don’t rest just because you have a signed term sheet. It’s never over until the funds are in your bank account. 

4) Having some kind of leverage is the most important thing while raising funds.  

You can have leverage if,

a) your growth is strong 
b) multiple VCs are interested in putting money creating competitive situations 
c) founders have a history of building successful companies before

Do's and Don'ts of Fundraising for early stage founders.

Do's

- You should have a clear plan for atleast next 12 months that can be seen on excel sheet, which clearly shows, what this fund raise is going to achieve for you.

- Start the process 4-6 months before you actually need the funds

- Get an understanding of funds portfolio/thesis/decision making process by reaching their portfolio companies prior to pitching.

Don'ts

- Try not to mention about valuations untill explicitly asked. Do not become rigid on a number, try to negotiate and substantiate your number.

- Don't keep high hopes from 1 single investor, keep talking to multiple people at the time. But at same time be transparent about the options to them, whenever you start doing serious conversations on terms and stuff

- Do not mess your cap table with number of people, keep it as clean as possible, it makes your life much much more easy when raising next rounds!

Yesterday, I had the privilege of participating in an insightful meetup organized by eChai and Venture Studio at Ahmedabad University, focused on Startup exits and M&A. The panel featured

Gaurav Barot

  from Tridhya Tech and

Yash Shah

  from Clientjoy, skillfully moderated by

Jatin Chaudhary

from eChai and myself as a representative from IndiaBizForSale.

The audience comprised a diverse mix of management students, early-stage startup founders, professionals, and seasoned business owners. We delved into valuable discussions on the nuances of M&A experiences, sharing insights from various perspectives.

Clientjoy's recent acquisition by a strategic player and Tridhya Group's strategic acquisitions of nine companies provided rich learning opportunities. As a representative of Indiabizforsale, I had the chance to contribute our experiences, shedding light on exit plans, the pivotal role of investment bankers and outside counsels, dynamics of deal progress, and the strategic timing of exits.

Discussions also touched upon when not to consider an exit, the standard fee structure associated with such activities by investment bankers, and more.

Takeaways from the evening:

1. Team: If you lack previous M&A experience, seek outside counsel to avoid costly mistakes and stay on course during this potential roller coaster event.

2. Unlocking Value: M&A brings definite value unlocking for entrepreneurs, providing a sense of relief as they embark on new beginnings.

3. Role of Clean Bookkeeping and Clear Communication:Transparent communication is vital for sell-sides. Share an accurate company picture to preemptively address any discrepancies that may arise.

4. Reputation Risk: Acquirers, building a fair and forward-looking reputation, attract better deal flow. Unethical tactics may yield short-term wins but jeopardize future opportunities.

5. Due Diligence: The multifaceted Due Diligence (DD) process covers business, HR, financial, legal, tech, IP diligence, and industry-specific areas.

It was truly gratifying to engage with a diverse audience in the thriving Ahmedabad ecosystem, and I'm delighted to be part of the eChai Ventures community. Looking forward to more enriching interactions!