Journey of SuperOps.ai CEO Arvind Parthiban; Akshayakalpa's plans to raise $25M funding
Arvind Parthiban never lost the desire to start something new. Akshayakalpa, an organic dairy startup, is in advanced talks to raise $25 million. Many elderly in the country resonate with the need for a companion as they go through life’s twilight years.
Hello,
Not that hot?
Honasa Consumer had a muted public market debut on Tuesday when its shares ended 4.05% higher—at Rs 337.15 apiece—than its listing price.
The Mumbai-based company, which operates brands such as , , and , among others, saw its shares open at Rs 330 on the NSE, a premium of 1.8% from its listing price of Rs 324. Its intraday price stood at Rs 340.45 apiece.
In other news, consumer internet company Info Edge reported a net profit of Rs 205 crore for the second quarter of the current fiscal—double what it had reported a year ago, boosted largely by a one-time gain of Rs 46 crore. In July-September 2022, its profit stood at Rs 103 crore.
Lastly, payments and financial services firm PhonePe has rejigged its top management while fintech unicorn elevated Rahul Kothari as chief operating officer for India and Malaysia.
ICYMI: Sikkim is among 30 destinations in National Geographic Traveller 2024 ‘cool list’ – a roster of top places and experiences for the year ahead.
Check out this article on Gurudongmar, the crowning jewel in Sikkim’s crown.
In today’s newsletter, we will talk about
- SuperOps.ai CEO Arvind Parthiban's take on life, leadership
- Akshayakalpa's plans to raise $25M funding
- Indian seniors breaking barriers to find love
Here’s your trivia for today: Which fast food chain began its journey as Pete’s Super Submarines?
Interview
SuperOps.ai's Arvind Parthiban on life, leadership
Though he sold his first company Zarget to in 2017, Arvind Parthiban never lost the desire to start something new. He went on to set up SuperOps.ai along with Jayakumar Karumbasalam in 2020. Over the past year, Chennai-based has seen a 300% growth in customers and raised $12.4 million in October as part of its latest round.
“A founder should have high conviction—but should also have flexible persistence. Imagine you're determined to climb a mountain and your goal is to reach the summit. That’s conviction," says Arvind in a conversation with YourStory.
A grounded approach:
- Arvind, who gave up sugar some four years ago, truly believes that being fit enables him to become a better leader.
- He surrounds himself with folks who are different from him. “I tend to lean more toward gut-based decisions. I often describe this approach as being akin to Captain Kirk, as opposed to the logical and analytical Spock," he says.
- He has a close support group that he leans on when he is in need of clarity or advice. This includes Freshworks Founder and CEO Girish Mathrubootham whom he considers his “best friend”.
Funding Alert
Startup:
Amount: $80M
Round: Equity
Startup:
Amount: $8M
Round: Series A
Startup:
Amount: $4M
Round: Seed
Funding
Akshayakalpa in talks to raise $25M
, an organic dairy startup, is in advanced talks to raise $25 million (about Rs 200 crore) from A91 Partners. The company is targeting a post-money valuation of approximately $75-80 million, a person with direct knowledge of the matter told YourStory.
Growth-stage deal:
- The transaction, potentially marking the 17th growth-stage deal in the last month, is anticipated to be finalised and officially announced in the upcoming weeks.
- It would empower Akshayakalpa to bolster its position in the increasingly competitive dairy products market in India. The company recorded a 12% growth in its FY22 revenue to Rs 116 crore.
- “It has some presence in Chennai and Hyderabad, and it will look to penetrate deeper into these two cities," the source said.
Dating
Indian seniors break barriers to find love
Many elderly in the country resonate with the need for a companion as they go through life’s twilight years. However, despite legal sanction, senior citizens have to deal with cultural factors, social acceptance, and the stigma associated with remarriage in old age.
“I wanted someone in the house I could hear, talk my heart out to, and travel with,” says 57-year-old Sadhana Savagave.
Growing old together:
- Madhav Damle, a 68-year-old resident of Pune, started Happy Seniors—a matchmaking platform for silver citizens in 2012—which to date has united 75 senior couples.
- Before they begin dating or living together, Damle encourages potential couples to sign an agreement on everything from finances and household responsibilities to the nature of their relationship.
- Consultant psychiatrist Dr Neelanjana Paul says many children are happy to connect their old parents to prayer groups, sports clubs, and senior homes but don’t extend the same sensitivity when they want to find love or companionship.
News & updates
- Steady pace: on Tuesday reported financial results that showed its business was continuing to steadily chug along—and even turn a profit as more riders and drivers used its platform than ever before. The company had $9.3 billion in revenue in its most recent quarter, lower than Wall Street investors expected
- Under scanner: Big Tech firms will face new European Union rules to clearly label political advertising on their platforms, who paid for it and how much and which elections are being targeted, ahead of important votes in the bloc next year.
- Liabilities: Britain will place legal liability for self-driving cars that crash with the company that makes it rather than the user, as part of a framework for the development of the autonomous vehicle (AV) industry, the government said on Tuesday.
Which fast food chain began its journey as Pete’s Super Submarines?
Answer: Subway
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