Good Morning,
2021 has been the year of roll-ups, with the Thrasio-style model disrupting the ecommerce sector. Case in point, Mensa Brands, which is one of the fastest startups to attain unicorn status in Asia, after achieving the coveted $1-billion valuation within six months of its inception.
And, while one would associate this model with popular direct-to-consumer (D2C) categories such as fashion or beauty, Gurugram-headquartered UpScalio is taking a different approach by focusing on utility brands.
The company recently announced the acquisition of four auto accessories brands — Autofurnish, Destorm, Urban Lifestylers, and MotoTrance — with a combined turnover of Rs 25 crore as it charges ahead with its plans.
But why utility?
“Our rationale of acquiring these brands was the disorganised nature of the sector. These brands have accumulated customer love and customers take pride in these brands,” says Gautam Kshatriya, CEO and Co-founder, UpScalio.
At present, the company has a portfolio of eight brands, including ergonomic chair maker GreenSoul, footwear brand Trase, backpack maker Polestar, and kitchen appliances maker Hestia. It expects to take this number to 50 over the next four to five years, Gautam tells YS. Read more.
The Interview
Earlier this year, fresh meat brand Licious became the first D2C startup to enter the coveted unicorn club after raising $52 million in a Series G round.
In a conversation with YS Founder and CEO Shradha Sharma, Licious co-founders Abhay Hanjura and Vivek Gupta talk about what it means to cross the billion-dollar valuation mark and what are its plans for the future.
Editor’s Pick: 100X Entrepreneur
Over the last two decades, Sameer Guglani has seen India’s startup ecosystem take shape. In this week’s 100X Entrepreneur Podcast, he talks about startups creating for joy, chasing growth and valuation, and how entrepreneurial aspirations now focus on building and creating wealth with consciousness. Read More.
Startup Spotlight
Helping businesses with AI solutions
With increased digitisation, there is now a focus on adopting AI solutions to be in step with the times.
Kochi-based Riafy Technologies comes with over ten years of R&D in artificial intelligence, machine learning, and consumer tech to help businesses with various AI solutions like conversational AI chatbot. Read more.
News & Updates
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