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SaaS management startups’ growth spurt; Efficient solar adoption

The global SaaS sector benefited from the global rush to digitalise during the pandemic, however, a looming recession is forcing companies to pare costs.

SaaS management startups’ growth spurt; Efficient solar adoption

Monday December 12, 2022 , 4 min Read


This week, three IPOs—Sula Vineyards, Landmark Cars, and Abans Holdings—are set to launch on the BSE and NSE to collectively raise Rs 1,858 crore. 

So far, in 2022, 33 companies have launched IPOs and mopped up over Rs 55,000 crore. In comparison, 63 IPOs had raised more than Rs 1.19 lakh crore last year. 

ICYMI: A simulator that allows you to build your ‘perfect’ asteroid and launch it on your preferred location on the planet to see its impact.

Lastly, the science of swear words.

Turns out, there are ubiquitous notes across languages, dialects, and cultures.

In today’s newsletter, we will talk about 

  • SaaS management startups see growth spurt 
  • Enabling efficient solar adoption in India
  • A paper bag biz growing 10X amid COVID-19

Here’s your trivia for today: Which was the first Hindi colour film?


SaaS management startups see growth spurt

SaaS-Growth at all costs

The global Software-as-a-Service (SaaS) sector benefited from the global rush to digitalise during the pandemic, however, a looming recession is forcing companies to pare costs. Fortunately, a niche breed of SaaS management startups is here to help.

Shifting priorities:

  • Quolum helps clients cut costs by identifying redundant or overlapping tools and suggesting ways to optimise them. 
  • Another SaaS buying and spend management startup, Spendflo, helps clients save an average of 23% in software spending over a period of one year. 
  • Gartner estimated that the cloud application services (SaaS) market touched $38.6 billion in 2016 and has grown rapidly to hit $152.2 billion (estimated) in 2021. This is expected to increase to $176.6 billion this year and $208.1 billion in 2023.

Solar energy

Enabling efficient solar adoption in India

Welfund founder

Chennai-headquartered Welfund has created a digital marketplace to bring together all the stakeholders in the ecosystem—financial institutions, engineering, procurement, and construction (EPC) companies, and consumers—to enable easier installation of rooftop solar projects. 

Easy adoption:

  • Welfund is currently processing about 159 MW of rooftop solar projects across India, with a value pegged at Rs 765 crore. 
  • The startup raised an angel round of funding from Refex Capital this year.
  • It is now close to signing partnerships with five financial institutions. It has partnered with loan distributors such as Yubi, Andromeda, Loanwiser, and DealsofLoan. 


A paper bag biz growing 10X amid COVID-19

Adeera Packaging

Despite the COVID-19 pandemic, paper bags maker Adeera Pack, which began its journey as Urja Packaging in 2012, registered 10X growth and clocked a revenue of Rs 23.5 crore in FY22. The company now supplies its products to clients in seven countries, including Spain, Italy, the US, the UK, and Australia.

A growth trajectory:

  • Adeera Packaging offers square-bottom paper bags, V-bottom paper bags, twisted-handle carry bags, aluminium foil-lined bags, two-sided open-wrapping bags, flat-handle carry bags, and more. 
  • The company has set up five factories in Greater Noida, and a warehouse in Delhi, and aims to scale its manufacturing by setting up a unit in the US by 2024. It currently sells five crore paper bags a month.
  • According to IMARC, the India paper bag market size reached $650 million in 2021 and is expected to reach $896.2 million by 2027, at a CAGR of 5.3% during 2022-2027.

News & updates

  • Caffeinated: Global consumption of coffee is likely to climb by 1-2% a year through the end of the decade, according to International Coffee Organization Executive Director Vanusia Nogueira, who estimated about 25 million more 60 kg bags would be needed over the next eight years.
  • Futuristic: A Panasonic test site near Kyoto, Japan, is using solar panels, hydrogen fuel cells, and Tesla Megapack storage batteries to generate enough renewable energy for manufacturing. Originally built in 1969, it is providing a glimpse of factory design for the climate change and energy transition era.
  • Jet setting: Air India is close to placing landmark orders for as many as 500 jetliners worth tens of billions of dollars from both Airbus and Boeing as it carves out an ambitious renaissance under the Tata Group conglomerate.

Which was the first Hindi colour film?

Answer: Kisan Kanya, which was released in 1937.

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