Google DeepMind's Manish Gupta on Opportunities for AI Startups in India | Decoding AI Episode 5

SeedToScale | Curated by Accel

#Tech #Society #Business #SEED TO SCALE Podcast Series #Anand Daniel

33:19

What’s the secret to lasting friendships? How does queer community show up through the ebbs and flows of life? And what’s the REAL story behind the “YMCA” song? In the first episode of Silver Linings, The Old Gays dive into an essential part of queer life: chosen family. They discuss the vital love, support, and sense of belonging that community provides, especially during life's toughest moments. They open up about what “queer” means to them, how chosen family has impacted their lives, and how to maintain close bonds over time–including their love for each other! “We’ve come a long way, baby.” Family isn’t just what you’re born with; it’s the people who show up, shape you, and stick around. See omnystudio.com/listener for privacy information.…

about a year ago 30:41

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Google DeepMind stands at the cutting edge of AI innovation, solving some of the most intricate scientific and engineering challenges. From protein structure prediction through AlphaFold to enhancing energy efficiency in data centers and advancing robotics for real-world applications, DeepMind is shaping the future of technology. But how can AI startups in India leverage DeepMind's insights? In this episode of Decoding AI, Prayank Swaroop, Partner at Accel, speaks to Dr. Manish Gupta, Senior Director at Google DeepMind, APAC to find out. Dr. Manish shares insights into the current landscape of language models, spotlighting groundbreaking work like the IndicGenBench project. The conversation dives into how Google DeepMind focuses on foundational technologies while empowering startups to create transformative solutions in sectors like healthcare and education. Dr. Manish also offers valuable guidance for startups, elaborating on Google's Trusted Tester Program and its collaborative approach to IP sharing. Dr. Manish also reflects on India’s distinct position within the global AI ecosystem, emphasizing the country's unique opportunities and challenges, and the potential of AI in scientific breakthroughs, including its role in advancing fusion energy.

97 episodes

Google DeepMind's Manish Gupta on Opportunities for AI Startups in India | Decoding AI Episode 5

SeedToScale | Curated by Accel

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published about a year ago

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97 episodes

#Tech #Society #Business #SEED TO SCALE Podcast Series #Anand Daniel

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SeedToScale | Curated by Accel

1
Building a New Category of Applied AI: Bridgetown Research | Decoding AI Episode 7 48:50

12 weeks ago48:50

48:50

AI is stepping into uncharted territory, assisting decision-makers with high-stakes, low-frequency calls that shape the future of enterprises. These decisions require more than historical data; they demand fresh insights, domain expertise, and a deep understanding of context. That’s where Bridgetown Research comes in. Bridgetown’s AI agents autonomously conduct deep research—interviewing experts, gathering proprietary insights, and identifying patterns to deliver real, actionable intelligence. In this episode of Decoding AI, Anagh Prasad, Investor at Accel, sits down with Harsh Sahai, Co-founder and CEO of Bridgetown Research, to discuss how AI is transforming decision-making at the board level. With a background spanning Amazon and McKinsey, Harsh shares his journey of bridging a career in AI and consulting to build an AI platform. The discussion explores how Bridgetown is tackling the complexities of high-stakes decision-making—leveraging AI to gather insights, enhance research depth, and improve judgment at scale. Harsh shares how AI agents can proactively collect and synthesize information, enabling decision-makers to act more confidently and clearly in an ever-changing business landscape.…

SeedToScale | Curated by Accel

1
AI for E-commerce: Insights from Meesho | Decoding AI Episode 6 41:38

17 weeks ago41:38

41:38

Meesho is redefining the role of AI in e-commerce, driving innovations that scale to meet the demands of millions. From handling over 60,000 voice bot calls daily to managing 'trillions' of features, AI is embedded in every facet of Meesho’s operations. In this episode of Decoding AI, Anagh Prasad, Investor at Accel, sits down with Debdoot Mukherjee, Chief Data Scientist and Head of AI at Meesho, to explore the transformative impact of AI on one of India’s largest online marketplaces. Debdoot shares learnings from his early days of machine learning at Myntra to shaping Meesho’s AI-first marketplace. The discussion dives into Meesho’s use of AI for solving complex challenges, such as optimizing matchmaking between users and products, and developing scalable machine learning platforms. Debdoot also shares how open-source frameworks drive innovation at the company. This episode offers a compelling look at how AI is transforming industries and presents invaluable lessons for anyone looking to build and scale AI-driven solutions at large.…

SeedToScale | Curated by Accel

1
Google DeepMind's Manish Gupta on Opportunities for AI Startups in India | Decoding AI Episode 5 30:41

19 weeks ago30:41

30:41

SeedToScale | Curated by Accel

1
Inside IIT Madras: India's AI Research Powerhouse | Decoding AI 24:55

20 weeks ago24:55

24:55

India is making strides in artificial intelligence, blending academic rigor with real-world applications. In Episode 4 of Decoding AI, Prayank Swaroop, Partner at Accel, is joined by Professor Balaraman Ravindran of IIT Madras, a pioneering figure in Indian AI research and application. As the founding head of several prestigious AI-focused centers, including Wadhwani School of Data Science and AI, the Robert Bosch Centre for Data Science & AI, and the Centre for Responsible AI at IIT Madras, Professor Balaraman discusses how IIT Madras is driving innovation in AI research, language models, healthcare, and more. Key highlights include IIT Madras's work on Indian-language AI systems, such as translating NPTEL (National Programme on Technology Enhanced Learning) videos into multiple languages and collaborating with the Supreme Court to make legal documents accessible in regional languages. On the healthcare front, groundbreaking initiatives like Garbhini tackle maternal and fetal health challenges unique to India. Professor Balaraman also provides insights into how startups can engage with IIT Madras's vibrant research ecosystem. Looking ahead, he emphasizes the importance of solving uniquely Indian problems, urging startups and investors to focus on creating value within the country instead of catering to first-world markets.…

SeedToScale | Curated by Accel

1
Building AI Infrastructure from India for the World: Insights from Simplismart | Decoding AI 40:49

20 weeks ago40:49

40:49

Simplismart is an AI infrastructure company building the critical platform-agnostic middleware to deploy, train/customize, and serve open-source AI models in production. With a very small team and under $1M in funding, these two Bengaluru-based founders built the world's fastest inference engine. In Episode 3 of our Decoding AI series, Amritanshu Jain, Co-founder and CEO of Simplismart, joins Anagh Prasad to discuss the startup's remarkable pivot. Initially built as an AutoML platform, Simplismart's breakthrough came when they happened to discover the speed of their inference engine after a conversation with a potential customer. In this episode, Amritanshu also elaborates on the open-source versus closed-source debate, noting that the comparison is complex and requires significant education. He emphasises that it is not simply about declaring one model superior to the other but understanding the broader context and specific advantages each model offers. While open-source solutions can offer high customization and cost efficiency, the choice between open-source and closed-source models ultimately depends on the unique needs and constraints of the enterprise.…

SeedToScale | Curated by Accel

1
Lessons on Product, Pricing, and Trust: Insights from ServiceNow | Decoding AI 40:32

34 weeks ago40:32

40:32

GenAI is growing rapidly, evolving from a mere tool into an intelligent partner that empowers businesses to scale with greater speed and efficiency. In Episode 2 of our Decoding AI series, Vishwesh Pai, Senior Director of Product Management for AI Platform at ServiceNow, and Anagh Prasad, Investor at Accel dive into how large companies are navigating the opportunities in enterprise software, especially with the rise of generative AI. Vishwesh reflects on his journey from leading AI initiatives at Amazon Alexa to spearheading AI development at ServiceNow, where he leads the company’s efforts from India. Vishwesh discusses how ServiceNow leverages generative AI to enhance customer productivity and agility while addressing legal, ethical, and security concerns. He emphasizes the company’s focus on AI safety and trust, which are critical in the enterprise space. According to him, generative AI presents a “golden opportunity” for ServiceNow to deliver more value to its customers and accelerate product development. Listen to this conversation for deeper insights into how large companies like ServiceNow are navigating the AI revolution and the challenges and opportunities for startups in the AI space.…

SeedToScale | Curated by Accel

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Building Agentic AI for the Enterprise with Ema | Decoding AI 41:52

40 weeks ago41:52

41:52

With GenAI on the rise, software is evolving from a tool that needs constant supervision to an intelligent partner that handles tasks autonomously, similar to human assistants. This shift promises a future where enterprises are more efficient, with AI seamlessly integrating into daily operations. In Episode 1 of SeedToScale's Decoding AI series, Accel's Anagh Prasad explores the future of enterprise software with Surojit Chatterjee, Founder and CEO of Ema, a company which elevates Agentic AI to the enterprise level. Surojit explains how the next generation of enterprise software, driven by Gen AI, will be radically different from the current systems. These new applications will break down data silos and access information across the enterprise to create adaptive, real-time user interfaces that respond dynamically to user needs and roles. Watch the full episode as Surojit shares how Ema is designed to bridge the gap between AI capabilities and business needs, and how Gen AI, much like past technological revolutions, is poised to create more jobs and opportunities than we can currently imagine.…

SeedToScale | Curated by Accel

1
Timeless Lessons for the Future | SeedToScale Specials 29:57

2 years ago29:57

29:57

2023 is particularly momentous to Accel as we complete 40 years as a global fund and 15 years in India. As we celebrate this milestone, we hope to share insights from the firm’s shared history with you, in this riveting two-part podcast series. We begin with a look at the past, and how startups and investors evolved over the years; moving on to investing today, and why many call 2023 the year of reset in VC. Finally, we look to the future, with timeless lessons the next generation of investors must carry forward.…

SeedToScale | Curated by Accel

1
Learnings from 40 Years in VC | SeedToScale Specials 55:43

2 years ago55:43

55:43

SeedToScale | Curated by Accel

1
Masterclass #9 | How Urban Company created tech-led value in the at-home services space 46:59

2 years ago46:59

46:59

Know what is harder than pivoting when the going gets tough? Pivoting when the going is good. On the surface, most metrics were scaling efficiently for Urban Company (previously UrbanClap) at the end of 2015. The tech company mainly generated leads for at-home service providers. But founders Abhiraj Bhal, Varun Khaitan, Raghav Chandra recognized that improving the experience of suppliers and customers would require deeper involvement. They needed to build a full stack marketplace with trained professionals. Eight years later, the company is valued at $2.8 billion. After proving their chops by taking the beauty industry online, Urban Company went on to digitally connect customers with a range of professional services including cleaning, repairs, electrical works, plumbing, and carpentry. When they first looked into the space, at-home services in India had been full of holes. The founders, all three from IIT Kanpur, knew that the problem had the potential to keep them busy for a lifetime. So they joined hands in 2014 to bring in organization and digitization. *** Over the past decade and a half, new-age marketplaces in India have transformed how people buy and sell products and services. From Flipkart to Swiggy, Urban Company, and Zetwerk, each has reimagined "the bazaars," shaping the future of commerce and livelihood in India. Starting November 3rd, we will share stories from the trenches about building and scaling these marketplaces, along with foundational lessons from their journeys. Learn more: https://bit.ly/3UnptTO *** 0:00 - Introduction 1:20 - Origin story 4:10 - Early days 9:33 - Product-market fit 14:25 - Picking the right service 16:30 - Testbed 17:40 - Zero-to-one phase 21:15 - Scaling the company 24:30 - Key strategic decisions 27:40 - Value to service partners 32:40 - Disintermediation 34:10 - Creating value on both sides 36:30 - Navigating COVID 39:50 - Leadership and culture 43:20 - The future…

SeedToScale | Curated by Accel

1
Masterclass #8 | How Infra.Market offers concrete solutions through its construction marketplace 47:21

3 years ago47:21

47:21

At their core, marketplaces are in the business of efficiency. Deeply optimized supply was the need of the hour in the world of construction, where access to materials was fragmented and unreliable. Souvik Sengupta of Infra.Market and Prashanth Prakash of Accel talk about transforming the manner in which real estate companies buy for their projects. *** Over the past decade and a half, new-age marketplaces in India have transformed how people buy and sell products and services. From Flipkart to Swiggy, Urban Company, and Zetwerk, each has reimagined "the bazaars," shaping the future of commerce and livelihood in India. Starting November 3rd, we will share stories from the trenches about building and scaling these marketplaces, along with foundational lessons from their journeys. Learn more: https://bit.ly/3UnptTO…

SeedToScale | Curated by Accel

1
Masterclass #7: Lessons from Myntra on how to build a long-lasting marketplace 39:48

3 years ago39:48

39:48

What does it take to build a timeless marketplace? Time. Long-lasting marketplaces have little to do with restless hustling, and a lot to do with clear research and balancing gut calls with data calls. You can trust that bit of wisdom because it comes from Mukesh Bansal who knows the ups and downs of entrepreneurship in India more intimately than most. As founder of Myntra, head of commerce and advertising at Flipkart, and now as founder-CEO at Cult.fit, the relentless entrepreneur has sold fashion, fitness, and almost everything in between. Mukesh was one of the first startup folk to have brought the Bay Area ethos to the Bengaluru ecosystem. Over the last 15 years, he has steered companies through teething problems, pivoting and scaling missions, as well as acquisitions. In this part of a series of conversations sponsored by Accel, Mukesh shares his favourite entrepreneurial hits and misses. Joining him is Subrata Mitra of Accel who has been among Mukesh’s earliest backers. He shares wisdom not just for the benefit of founders but also for venture capitalists as they go from backing two to four to 20 companies. Over the course of chatting with Pankaj Mishra, the duo sum up their journey so far in many quotable quotes. *** Over the past decade and a half, new-age marketplaces in India have transformed how people buy and sell products and services. From Flipkart to Swiggy, Urban Company, and Zetwerk, each has reimagined "the bazaars," shaping the future of commerce and livelihood in India. Starting November 3rd, we will share stories from the trenches about building and scaling these marketplaces, along with foundational lessons from their journeys. Learn more: https://bit.ly/3DqT87o…

SeedToScale | Curated by Accel

1
Masterclass #6: Spinny’s Lessons on Winning Customer Trust In A Crowded Market 35:38

3 years ago35:38

35:38

When Niraj Singh started up Spinny, the used-car market in India was already crowded with cash-rich competitors. More and more Indian buyers were leaning towards buying pre-owned cars because of the better value they offered but the landscape was still full of potholes and barriers. There were few trusted intermediaries, and no convenient way for buyers to go through the sea of options or for sellers to find the right price. That is where Spinny came in. Niraj Singh founded the full-stack platform for buying and selling used cars in 2015, together with friends Ramanshu Mahaur, a fellow alumnus of the Indian Institute of Technology (IIT)-Delhi, and Mohit Gupta, an MBA from the Indian Institute of Management Technology (IMT), Ghaziabad, who moved from Flipkart to join as operations head. A car lover himself, Singh wanted to address the pain points in the sale and purchase of a used car. “When you're buying your first car, it's a very important, very aspirational, very emotional purchase for you, and your entire family. It was very clear that we are not going just after the used-car market opportunity, but we are going to solve (an issue) of trust, experience and aspirations of people,” he said in an interview with Pankaj Mishra, co-founder of the digital media publication FactorDaily, a journalist tracking start-ups, with over two-and-a-half decades of professional experience. Sellers put in a request to sell their cars on the website. If it passes a 200-point test by an inspection team, Spinny sets a price, features the car on the site, and takes over the responsibility of selling the car. Buyers have the assurance of buying a Spinny-certified vehicle and the added benefit of a 1-year warranty. The company takes care of all the paperwork, from registration to title transfers. Among others, Spinny competes with OLX, Quikr and CarDekho in a market that was valued at $23 billion in the financial year 2021-2022 and is projected to grow at a compound annual growth rate of 19.5 per cent until FY 2026-27, according to a report by IndianBlueBook, an auto technology platform, and Das WeltAuto, the pre-owned car business of Volkswagen India. After starting operations in the National Capital Region (NCR), centered on Delhi, Spinny has expanded into Bengaluru, Hyderabad, Pune, Mumbai, Kolkata, Chennai, Ahmedabad, Jaipur, Chandigarh, Indore, Coimbatore, Lucknow and Kochi. It became a unicorn with a valuation of about $1.8 billion, when it raised $283 million last year from a consortium led by Abu Dhabi-based ADQ, Tiger Global and Avenir Growth. This interview is part of a special series brought to you by the Indian unit of Accel Partners, which has backed some of the most significant marketplaces that have come up in India including food delivery platform Swiggy, e-commerce company Flipkart, TaxiForSure, which offers ride-hailing services, and Urban Company, a provider of home cleaning, appliance repair, beauty treatment and handymen services to customers at their doorstep. Joining Pankaj Mishra in the chat is Niraj Singh, who at the time of founding Spinny, already had two start-ups behind him – TechMonkey, an Internet media company, and Locus Education, an IIT-JEE prep venture with offline and online presence. They dive into the details of going from a marketplace model to a direct full-stack model, the business of trust, and the basic rules of team building.…

SeedToScale | Curated by Accel

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Masterclass #5: How BlackBuck drove digitization in the complex world of trucking 49:43

3 years ago49:43

49:43

Conversation Highlights In addition to asking if the sector is unorganized, ask whether it is inefficient. Know exactly what kind of a profit pool is available there. There are businesses where a tight testbed is not possible. So find your fulcrum. It takes trial and error but look for the side where your tech intervention as a marketplace will drive the most value. Fairness is an easy sell. Both sides of the marketplace appreciate fair policies and practices. Once built, marketplaces are not static. They are in dynamic equilibrium. Pay attention to both demand and supply and balance them. Unknown mistakes are okay. Don’t make known mistakes.…

SeedToScale | Curated by Accel

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Masterclass #4: How Zetwerk disrupted manufacturing by using technology to cut delays 49:45

3 years ago49:45

49:45

Cutting out the intermediary helps many industries. Not so in manufacturing. It needed a middle layer. Suppliers routinely failed to deliver on time, and customers failed to pay on time. To improve trust and speed, Amrit Acharya and Srinath Ramakkrushnan introduced Zetwerk as a B2B marketplace for manufacturing in 2018. Zetwerk began as a hub for steel fabrication. Within six months, its business went from a topline of ₹1 crore a month to ₹10 crore a month. Since then, the company has expanded into more than 10 categories and is valued at $2.7 billion today. The company has transformed the space with high-quality products, increased transparency, and fewer and shorter delays. The backbone of its operation is technology. It uses dashboards to track each order at various stages in real time so that suppliers can stay on schedule and customers can get regular updates. Manufacturing appealed to Amrit because he had dabbled in it fresh out of college. In several ways, it prepared him for starting up – because ‘building’ things from scratch is common to both worlds. In this part of a series of conversations sponsored by Accel, Zetwerk CEO Amrit Acharya participated along with Prayank Swaroop of Accel Partners, who has backed the company right from the early days. They discuss the brass tacks of setting up a B2B marketplace with Pankaj Mishra. * Over the past decade and a half, new-age marketplaces in India have transformed how people buy and sell products and services. From Flipkart to Swiggy, Urban Company, and Zetwerk, each has reimagined "the bazaars," shaping the future of commerce and livelihood in India. Starting November 3rd, we will share stories from the trenches about building and scaling these marketplaces, along with foundational lessons from their journeys. Learn more: https://bit.ly/3DqT87o…

SeedToScale | Curated by Accel

1
Masterclass #3: How Captain Fresh reeled in B2B success using clarity, capital, and talent 50:27

3 years ago50:27

50:27

Give someone a fish, you feed them for a day. Give someone reliable access to seafood in a supply-deprived industry, you go on to create a successful B2B marketplace for fish. Take it from Utham Gowda, the founder of Captain Fresh, an investment banker-turned-fisherman, so to speak. Three years after its birth in 2019, the company has raised $126.5 million in funding at a $500 million valuation. In an industry where the average level of spoilage is 20-30%, Captain Fresh manages to minimize waste in seafood shipments to 2-5%. It was in 2015, while scouting for viable sectors as an investment banker, that Gowda embarked on an aquatic adventure. He was helping a seafood player become IPO-ready. Some years of diving deep into fisheries revealed a fragmented, underserved industry begging for scientific solutions. There was a clear entrepreneurial opportunity, but few had even touched the space. Quite frankly, the waters were muddy. There was a combination of problems: High perishability, seasonality, varying tastes by region and so on. Gowda rose to that challenge with a combination of his own: Research, resources, and people. As an investment banker, he knows the importance of due diligence. As a single founder, he knows the importance of finding the right talent. And as someone who started up a little before COVID-19 hit, he knows the importance of planning and stress-testing. In this part of a series produced by Accel Partners, Gowda was joined by Barath Shankar Subramanian of Accel, a vegetarian who strongly backs the fish-fuelled business. In July 2021, after many Zoom calls between Subramanian's and Gowda’s teams, Captain Fresh raised $12 million in Series A funding led by Accel. They talk to Pankaj Mishra, co-founder of digital media publication FactorDaily, about their journey. * Over the past decade and a half, new-age marketplaces in India have transformed how people buy and sell products and services. From Flipkart to Swiggy, Urban Company, and Zetwerk, each has reimagined "the bazaars," shaping the future of commerce and livelihood in India. Starting November 3rd, we will share stories from the trenches about building and scaling these marketplaces, along with foundational lessons from their journeys. Learn more: https://bit.ly/3DqT87o…

SeedToScale | Curated by Accel

1
Masterclass #2: How Swiggy fell in love with the problem, and not their solutions 1:00:16

3 years ago1:00:16

1:00:16

It’s essential to keep things as simple as possible initially, with a total focus on understanding the consumer problem statement. Because when it comes to subscriptions, users drop off a lot — they are commitment-phobic. In the next stage, startups must know how to decentralise well. A founder cannot go on micromanaging a hundred things. Many startups fail because while they thought they solved a problem, they had no idea about its sustainability in terms of how it would scale economically. And as far as possible, until you hit product market fit, keep things as lean as possible. If you start hiring too many people for specific roles, it gets difficult to roll things back when they go wrong. Eventually, it all boils down to two questions: Who are you building for? Do they consumers like your product? In this conversation, Nandan Reddy and Phani Kishan from Swiggy and Accel's Anand Daniel share lessons learned while building and scaling their startup in a crowded market. *** Over the past decade and a half, new-age marketplaces in India have transformed how people buy and sell products and services. From Flipkart to Swiggy, Urban Company, and Zetwerk, each has reimagined "the bazaars," shaping the future of commerce and livelihood in India. Starting November 3rd, we will share stories from the trenches about building and scaling these marketplaces, along with foundational lessons from their journeys. Learn more: https://bit.ly/3DqT87o…

SeedToScale | Curated by Accel

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Masterclass #1: How TaxiForSure built a successful marketplace by combining data with intuition | Decoding Marketplaces 1:15:50

3 years ago1:15:50

1:15:50

About TaxiForSure TaxiForSure, founded in 2011, was the outcome of a drunken conversation in a Bangalore pub between friends Raghunandan G and Aprameya Radhakrishna, who had both been to National Institute of Technology Karnataka and the Indian Institute of Management-Ahmedabad. Raghunandan was 33 and Radhakrishna a year older. Three-and-a-half years after it started up in a 100-square-feet office in a Bangalore suburb. TaxiForSure was acquired in March 2015 by bigger rival Ola Cabs, which paid $200 million in a cash and equity deal as it attempted to fend off competition from Uber. By August 2016, TaxiForSure was gone after Ola integrated its service with its own and fired hundreds of its employees. Today, Raghunandan and Radhakrishna, who both worked briefly at Ola as advisors before walking away, are successful people and have funded a string of startups. The former has founded fintech firm Zolve and the latter is co-founder of Koo, the Indian version of Twitter. WasTaxiForSure a failure?. Not so if the experience and insights they gained into running a startup in a space like mobility shaped their future roles. Highlights Research, research, research. When things get difficult, and they will, this user research will be your north star. There is a tendency in founders to assume the role of the customers. Stop. You were the customer when you conceptualized the marketplace, now you’re no longer a customer. Build for what the customer wants, not what you want. Happiness. The happiness of the team guarantees happiness of all stakeholders, which in turn ensures happiness of the customer. A happy customer will always reflect on the bottom line. Build a team with diverse backgrounds. If you plan to disrupt a market, try to hire from outside the market. Those within the market come with their mental blocks, and fresh perspectives guarantee innovation. Evolve to where the market will be, not where the market is currently. This will ensure that you’re ahead of the pack.…

SeedToScale | Curated by Accel

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Insights #79: Future of Insurance | Learnings from Varun Dua, Founder & CEO Acko 46:52

3 years ago46:52

46:52

Like in most markets, India is a large but under-penetrated insurance market. While the COVID-19 pandemic led to a sharp uptick in life insurance premiums, bringing it at par with the global average of 3.2% of GDP, non-life premiums - health and motor insurance - continue to lag at sub 1% of GDP, compared to 2% for developing Asian countries and 5% for developed economies. In a low-income economy, paying up premiums to protect against potential long-term downside is not a top priority for people. However, this will grow. As India’s GDP and per capita income grow, more people will begin insuring themselves and their assets. This has happened globally and India is no different. Second and more important, the state of insurance in India leaves much to be desired, both for the insurer and the insured. Improving this can be vital to changing the Indian consumer’s relationship with insurance, and building enduring private companies in the space. We spoke to Varun about his journey building an insurance company, how he approaches building a brand in an industry with established players, and what he sees in the future. He is joined by Abhinav Chaturvedi and Subrata Mitra, investors at Accel who have had a ringside view of Acko and Coverfox. Key Segments 3:19 - 7:20 - Varun’s journey from Coverfox to Acko 14:13 - 17:43 - Technology’s role in insurance: Underwriting Distributor vs Underwriting Customer 17:44 - 20:11 - Future of Insurance: Ancillary Services 21:36 - 25:30 - Learnings from the US Insurance Sector 36:32 - 40:12 - Managing regulations in Insurance 44:31 - 46:31 - What’s next for Acko The Accel team wishes Varun and Acko all the best in their mission. Blog authored by Sankalpana Agarwal from Accel Check out other episodes from the Insights Podcast series at https://www.seedtoscale.com Share your feedback and suggestions at https://www.twitter.com/Accel_India…

SeedToScale | Curated by Accel

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Insights #78: Future of Mobility | Vivek on Bounce’s Journey & Inevitable Adoption of EVs 58:29

3 years ago58:29

58:29

India, frequently referred to as the two-wheeler factory of the world, serves a tremendous market both in India and abroad. About 15M two-wheelers were sold in India in 2021 and 3.7M two-wheelers manufactured in India by the top 4 Original Equipment Manufacturers (OEMs) were exported. By 2030, the number of two-wheelers sold in India annually is expected to reach 35M representing an about $30B market, growing at the back of limited penetration of affordable public transport (public transport only serves 7% of the total trips at present) and the ever-increasing cost of not-so affordable four-wheelers. However, with rising fuel prices and the increasing cost of Internal Combustion Engine (ICE) scooters, ownership of personal two-wheelers has become financially challenging. Owing to this, customers are now looking for reliable and affordable personal mobility solutions for their daily commute. This new customer demand, along with increasing environmental concerns and favourable government regulations, has created an urgency for electric mobility and set the stage for the rapid adoption of electric vehicles (EVs). As Accel, we have always looked for new-age solutions that add immense value to consumers and Bounce with its dockless mobility solution presented a great investment opportunity in 2018. What started out as Wicked Ride - a luxury bike rental platform and pivoted to a dockless mobility solution has today become a full-stack EV mobility solution for the Indian masses with 3 core business verticals - electric scooter manufacturing, Battery-as-a-Service and dockless mobility. With a capacity of 220K+ scooters per annum, Bounce launched its Infinity e1 electric scooter in early 2022 and has already received 60K+ pre-orders. It completed 5M+ EV rides covering 27M+ EV mobility kilometres with 1M+ swaps by building India’s largest battery-swapping network present in 40k+ locations across India. To understand this new era of mobility which is rapidly unfolding, we spoke to Vivekananda Hallekere, Co-founder and CEO of Bounce, who has been at the helm of EV mobility adoption in India. In this conversation, Vivek talks about his journey, the various phases of Bounce, EV trends in India and abroad, the inevitability of EV adoption and the need for regulatory support. Key Segments Bounce’s journey from luxury bike rentals to full-stack EV mobility - 1:15 Battery charging, battery swapping and Battery-as-a-Service - 17:00 Future of Electric Vehicles - Global and Indian - 26:06 State of regulatory environment in India - 44:46 Future of Bounce and Energy-as-a-Service - 50:46 We thank Vivek for coming on and sharing these insights with us and we wish him and Bounce team all the best for this amazing journey of revolutionizing personal mobility for India. Blog authored by Lakshay Bansal from Accel Check out other episodes from the Insights Podcast series at https://www.seedtoscale.com Share your feedback and suggestions at https://www.twitter.com/Accel_India…

SeedToScale | Curated by Accel

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INSIGHTS #77: Future of Banking | Reflections from Niyo’s Vinay Bagri 42:39

3 years ago42:39

42:39

Banking opportunity in India is tremendous, with overall banking assets expected to reach $3T by 2025, with deeply under-penetrated private credit markets which account for ~50% of GDP (vs. 150%+ for developed economies). Despite this large opportunity, customer experience and engagement in traditional consumer banking in India is broken and has been so for over a decade. With the increasing digital penetration in the country, customers armed with their smartphones are looking for an easy, seamless, quick and personalised experience and their expectations are ever-evolving. Neo-banks attempt to fix the broken customer journeys and provide a superior banking experience, serving as a layer over traditional banks. This means that customers no longer need to spend hours at their physical bank branch queues, mired in paperwork for everyday banking needs. While doing so, a neo-bank improves access to a whole suite of financial products across wealth management, lending, and insurance through a single platform. As Accel, we’ve always believed that technology can revolutionise banking and attempted to enable that ecosystem, first through our investment in Monzo in 2018, then through our investment in Zolve in 2021, and recently through a growth investment in Niyo - Niyo is a leader in the consumer neo-banking segment in India with a base of 5 million users. To understand this new era of banking which is fast unfolding, we spoke to Vinay Bagri, Co-founder and CEO of Niyo, who is a long-standing veteran in the banking industry in India. In this conversation, Vinay talks about how Niyo came into being, shares some of his reflections on the ongoing changes in the banking ecosystem, draws parallels from other fintech segments and discusses the need for regulatory support. Key segments The large market opportunity for a neo-bank in India - 18:05 - 19:48 How neo-banks provide a completely new banking experience - 20:22 - 22:41 The success of neo-banks globally - 24:00 - 25:20 Customer segmentation in neobanking - 30:25 - 32:12 State of neo-banking regulations in India - 36:28 - 39:10 We thank Vinay for coming on and sharing these insights with us and we wish him and Niyo team all the best for this amazing journey of revolutionizing consumer banking for India. Check out other episodes from the Insights Podcast series at https://www.seedtoscale.com Share your feedback and suggestions at https://www.twitter.com/Accel_India…

SeedToScale | Curated by Accel

1
INSIGHTS #76: Untold Seed Stories | First 500 Days of Bizongo 42:36

3 years ago42:36

42:36

B2B marketplaces are different. There are tremendous opportunities, but also different challenges. This arises from the business model itself. Having to cater to both the supply and demand side is one thing, the other is adjusting to the nuances of the products and commodities being bought and sold. This is different for every domain and therefore there is nothing that can be replicated. Everything had to be thought through first principles. One example of a company that did exactly this is Bizongo, the largest business-to-business online marketplace for packaging needs in India. Bizongo has been a phenomenal success story in the last few years, witnessing exponential growth during the pandemic. Founded by Aniket Deb, Sachin Agrawal and Ankit Tomar, the company is now at a significant point, poised to scale. The team raised funding of $110 million in December 2021 and now stands at a valuation of over $600 million. As Bizongo scales, we thought this was the best time to get CEO Sachin Agrawal to talk about their First 500 days. I also have on the podcast Prayank Swaroop, my colleague, and partner at Accel, who led the seed round in Bizongo. Prayank has been a part of Bizongo’s journey from the beginning, and he will help us shed light on some of the decisions that helped Bizongo get here. We’ll be diving into the initial days, the evolution of the business model, pivots, and finally the challenges due to the pandemic and how Bizongo overcame them. With Prayank here, we will also take the opportunity to dive into how investors think about such businesses and what they look for in founders and the team when they invest. I thank Sachin and Prayank for coming on and sharing all of these stories and insights about Bizongo’s first 500 days. We wish Sachin and the Bizongo team all the best, they have an amazing few years ahead of them! Summary of the conversation: GMV versus profitable business - 17:14 - 18:31 Creating a culture of trust at Bizongo - 26:14 - 27:06 Building a bond as co-founders - 29:23 - 30:24 What is working capital? - 32:06 - 34:18 Business expansion during Covid times - 35:59 - 38:11 Check out other episodes from the Insights Podcast series at https://www.seedtoscale.com Share your feedback and suggestions at https://www.twitter.com/Accel_India…

SeedToScale | Curated by Accel

1
INSIGHTS #75: Untold Seed Stories | First 500 Days of Mensa 37:54

3 years ago37:54

37:54

The D2C ecosystem has truly found its feet in India. There are now a lot of great brands making niche, high-quality products for targeted audiences. The e-commerce wave has given them a channel of distribution that they own. But as the market matures, there are other needs for young D2C startups. They need marketing, sales, and brand talent, things which they can’t easily get access to in order to grow as fast as they want to. Ananth Narayanan’s Mensa aims to solve this problem for the new D2C economy. Mensa is a house of brands that invests in digital-first, D2C brands, and scales them globally. Previously, Ananth was CEO of Myntra, which was acquired by Flipkart, and co-founder and CEO of Medlife, which was acquired by Pharmeasy. Remember, Mensa is not even 500 days old! Subrata’s presence is also notable here, as he has had a long relationship with Ananth. Fun fact: Mensa was co-created as a concept by Ananth and Accel working together from the start. We’ll go into more details in the podcast, but Subrata has been in the trenches with Ananth: from ideation to team expansion, and from strategy to building out their tech platform. I thank Ananth and Subrata for coming on and sharing all of these stories and insights about Mensa’s first 500 days. We wish Ananth and the Mensa team all the best, we are definitely rooting for them! Summary of the conversation: 6:55 - 8:16 - The India opportunity for a digital house of brands. 8:34 - 9:58 - How did Mensa achieve Unicorn status in 6 months? 16:35 - 18:55 - How did Mensa use technology top scale? 19:37 - 21:37 - How did Mensa convince founders to sell their brands to Mensa? 27:05 - 29:25 - Advice for founders from Ananth & Subrata. Check out other episodes from the Insights Podcast series at https://www.seedtoscale.com Share your feedback and suggestions at https://www.twitter.com/Accel_India…

SeedToScale | Curated by Accel

1
INSIGHTS #74: Future of Open Source | Abhishek Nayak on Appsmith and Building Open Source Projects 49:20

3 years ago49:20

49:20

How is the world of Open Source faring in a landscape that is being overturned by Web3 and its ascendant new technologies? It’s an important question and not just in the realm of entrepreneurship and products. Open Source was the first promise of some kind of a technological revolution, where everyone could build and use things they want to with help and support from a real, tangible community. Where is that promise now, what is being built out of it, and where does it stand with the advent of new technological paradigms? That’s the topic of the conversation I have the pleasure of bringing you today. My colleague, Prayank Swaroop, Partner at Accel, is talking to Abhishek Nayak, founder and CEO of Appsmith. Appsmith is a startup that provides an open-source low code tool that helps businesses build any custom internal application within hours. And the company has just raised its Series A of $8 million. There's one more Accel connection here: Abhishek was also part of the Accel team for a while. In the podcast, we try to understand from Abhishek about where the open-source world is, how far it has come, and what we can look for from it, and all of it from the lens of Appsmith. This podcast has a lot of takeaways for founders thinking about building open-source projects and companies. Thanks to Prayank for the interview and thanks of course to Abhishek for taking time away from the grind of entrepreneurship to come talk to us! Summary of the conversation 16:00 - 17:57 - Why did Appsmith take the open-source route? 11:44 - 13:24 - Why internal apps & not consumer facing apps? 24:50 - 25:53 - How to build an engaged community on Discord? 30:03 - 31:40 - Why aren't business users adopting open source tools? 35:10 - 37:08 - How did Appsmith acquire users? 38:52 - 40:50 - Do developers care about design? 44:18 - 46:27 - Challenges raising money for an open source project 48:24 - 49:32 - Advice for founders thinking of open source projects Check out other episodes from the Insights Podcast series at https://www.seedtoscale.com Share your feedback and suggestions at https://www.twitter.com/Accel_India…

SeedToScale | Curated by Accel

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INSIGHTS #73: Future of Crypto | Raghu Yarlagadda on FalconX's flight and what it means 43:08

4 years ago43:08

43:08

If you know about Crypto, you can’t have missed FalconX, I’ll still give you a brief: FalconX is a blockchain, cryptocurrency, and fintech-focused cryptocurrency brokerage and digital asset trading platform. Accel has been proud partners since the startup’s inception, and we’ve been cheering on their success loudly! Crypto is definitely here. With the slew of recent advertising and coverage around it, plus the FOMO that investments in it are generating, we are definitely overdue for a discussion on the space. And we have just the thing for you. Pratik Agarwal, my colleague at Accel has been interested in this space for a long time, and he is interviewing Raghu Yarlagadda, CEO of FalconX, one of the world’s fastest-growing companies of the last half-decade. But that’s not just why we are talking to Raghu for this episode. As reported by Bloomberg in August 2021, FalconX saw its revenue grow by a multiple of 30 times in the 12 months (up to June 2021). Evidently, Raghu and the team know something we don’t. And that’s not all. The crypto world is moving at a pace that is beguiling to even seasoned market watchers. There is just so much happening every day. Raghu and Pratik will also attempt to give us a lens into this world and how to make sense of a rapidly changing scene. This podcast has all this and more. It has been one of my favourite episodes recently and we hope to bring Raghu back for more next year. 6:57-7:59: Insights that helped in starting FalconX; building a tokenization gateway for institutions 8:15-10:26: Why was it critical to focus on institutions and not retail customers? 16:00-18:20: Convenience in the institutional adoption of crypto assets 20:39-22:21: De-Fi(decentralised finance) explained 23:15-25:35: Nuances of De-Fi; Comparing it with conventional banking system 27:22-29:50: Global overview on the regulatory landscape in crypto 31:06-33:01: Future white spaces that could be chased starting today in crypto 33:03-33:55: Newer opportunities on the infrastructure side in the crypto market Check out other episodes from the Insights Podcast series at https://www.seedtoscale.com Share your feedback and suggestions at https://www.twitter.com/Accel_India…

SeedToScale | Curated by Accel

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INSIGHTS #72: Future of Edtech | Learnings from the Duolingo journey 56:15

4 years ago56:15

56:15

Edtech is a category whose time has come. The pandemic and its attendant ramifications have meant that Edtech is now one of the hottest spaces for innovation and growth globally. This also means that a lot of new Edtech startups are coming up, with newer visions and interpretations of what the future of learning and education can look like. And they have a lot to navigate around and wade through in a rapidly evolving landscape. Which is why we bring to you this conversation with Bob Meese, the Chief Business Officer of Duolingo, one of the most innovative Edtech companies in the world. You know the company, of course, and we are delighted to be bringing you a glimpse into its history and workings. Bob is interviewed by my colleague Manasi Shah, Vice-President at Accel. She is deeply interested in the space and has been looking at Edtech startups for a while now. What resulted from this meeting of minds is a far reaching conversation, about the nature of online education itself, how the world is embracing it, what the challenges are, and what the future will look like. 13:10-15:30: Monetization at Duolingo and it's framework; Audience growth more critical than monetization 17:52-19:41: Frameworks of monetization and the key areas of focus with each approach 23:15-24:52: Perception of experimentation and subsequent failure with monetization 28:07-30:00: Empowering teams to come up with newer and better ideas; also taking help from the ecosystem 31:10-33:24: Retention metrics and how Duolingo approaches them 39:32-41:46: Approaching GTM at Duolingo; how growth of mobile devices helped them scale 44:10-46:34: Challenges during Bob's early days at Duolingo; not having the right set of people; setting up ambitious goals and missing out on them consistently 48:54-50:56: Future of edtech; how Duolingo saw edtech transform from being a "bad word" to a promising vertical 51:55-53:50: Shaping up the product as a key source of customer delight Check out other episodes from the Insights Podcast series at https://www.seedtoscale.com Share your feedback and suggestions at https://www.twitter.com/Accel_India…

SeedToScale | Curated by Accel

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INSIGHTS #71: Future of Credit Cards | Innovation and Challenges in Indian Fintech 40:42

4 years ago40:42

40:42

Credit cards are one of the most ubiquitous financial products in the world. We all use them everyday, they are part of our lives. But as the world changes and our spending and consumer behaviour changes along with it, so have our needs with regard to financial products. We now have different financial behaviors and the exciting field of fintech is ready to serve us according to our own preferences. Credit cards are the first logical step in this revolution. Over the last couple of years, several startups in India are trying to disrupt and change the credit card ecosystem in India, and literally all of them are tremendously exciting. One of the foremost among them is Uni, and Nitin Gupta, the CEO is one of the domain’s most knowledgeable. Which is why I’m delighted to present to you this conversation between Rachit Parekh, Vice President at Accel, and Nitin. It’s a far reaching dialogue on the evolution of Indian fintech, what the future holds, global trends, and challenges the field is facing. The conversation is also insightful in that it makes clear the opportunities that exist in a nascent fintech space like India’s, in which credit cards may be the first step in a boom of new and innovative products the country has never seen. But, and here’s what I think is the more important part of the conversation, Rachit and Nitin also spend time on the regulatory challenges faced by Indian fintech. This is important not just for the fintech and credit card ecosystem, but for anyone who needs to navigate the Indian system. I learnt a lot from the conversation, and I know you will too. And yes, watch this particular space in fintech. There’s going to be a lot of action here in the decade ahead 0:00 - 8:00: Intro 8:08 - 9:37: Why go after credit card business? 11:35 - 13:36: Global trends in the financial services business 26:39 - 29:11: Challenges in the Indian financial services industry 31:29 - 32:10: Making customer data available 34:39 - 36:44: How to manage regulators? Check out other episodes from the Insights Podcast series at https://www.seedtoscale.com Share your feedback and suggestions at https://www.twitter.com/Accel_India…

SeedToScale | Curated by Accel

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INSIGHTS #70: Future of Beauty and Personal Care: Tracking the evolution of the category in India 57:11

4 years ago57:11

57:11

From lipsticks to hair care to bath and body -- there’s little to nothing that the average shopper cannot find that covers all beauty and personal care needs. And what’s more, the shopper can browse through multiple brands within the same unified platform. It is to talk about this vision that I am joined today by Prashanth Prakash, senior partner at Accel and the man behind the glam himself -- Darpan Sanghvi, CEO and co-founder of MyGlamm, India’s fastest growing direct-to-consumer beauty brand. MyGlamm is one of our more recent investments in the beauty and personal care (BPC) segments that has seen tremendous success with its house of brands model and direct-to-consumer (D2C) business approach. It was enervating to hear Darpan’s unique take on the growing BPC market from an entrepreneurial perspective, along with Prashanth's keen and experienced insights into the burgeoning business. In this episode we discussed everything from MyGlamm’s journey, building a scalable beauty company using technology, the challenges and opportunities of the Indian market, tackling the COVID-19 crisis, leveraging social media, creating a data engine, and more -- all while keeping an eye on the offline sales game as well. 0:00 to - 6:25: Introductions and beginnings! Darpan isn’t your average CEO, and MyGlamm wasn’t born without some serious on-ground work that began with a keen interest in brands, and a never-say-never attitude. 6:30 to 10:51: Prashanth’s thoughts on the brand space with specific insight into BPC, and what is unique about the sector. 10:53 to 20:45: How Darpan navigated this space from an entrepreneur point of view. How did Darpan decide what product to launch with? 20:50 to 24:00: Prashanth gives us the investor perspective. 24:03 to 27:51: What are the challenges and advantages that startups face in this segment, when they come up against the goliath brands that have been around for longer. 27:52 to 30:40: Darpan tells us how he learnt from the foundations of the business, and in the BPC space the challenges that exist, are actually opportunities in disguise. 30:35 to 31:45: Prashanth on how brands and businesses have to look to survive. How they must leverage the offline muscle that they built, to stay relevant in digital times. 31:5o to 34:47: Does Darpan believe in the offline sales concept as well? How does it apply to his D2C brand and platform? 34:50 to 39:20: The impact that COVID-19 has had on this industry and the surprises that came along with it! 39:22 to 46:55 : Internet penetration in India has been far more successful and higher than the BPC penetration. What does this mean for aspiring companies in this space? 47:00 to 55:34 - What does the future hold for BPC brands as well as the broader D2C segment. Our experts have predictions, aspirations, and hope for the future. Check out other episodes from the Insights Podcast series at https://www.seedtoscale.com Share your feedback and suggestions at https://www.twitter.com/Accel_India…

SeedToScale | Curated by Accel

1
INSIGHTS #69: GRIT Stories | The most resilient Indian startup you haven’t heard of 1:01:34

4 years ago1:01:34

1:01:34

In the latest episode of Grit Stories, I spoke with Baskar Subramanian, founder and CEO of Amagi. Baskar has been an internet entrepreneur and startup founder since before either of those terms were really a thing. Having started and sold his first startup in his mid 20s, Baskar, along with a group of friends, started looking for new problems to solve. The group set their sights on disrupting television advertising with technology, the startup that became Amagi. The startup ecosystem, Indian or international, sometimes focuses too much on the loud and the noisy. But there’s another kind of startup, quiet, tough and resilient, focused on their business and their goals. It’s clear which kind Amagi is, and this was a great insight into the people behind it. Amagi has been in the future since 2008, and we wish them the best with their rocketship. 2:44-3:45: Baskars Story; Coming from a small time; being dyslexic but still finding a connect with the computers 3:45:20-5:14:09: First business stint in grade 11! Building financial products from small businesses! 07:45:23-09:19: Making the decision of leaving Texas Instruments although being a top coder there and thoughts on starting up 16:34-19:06: Amagi Story: Empowering the smaller players to advertise on TV! 20:30-22:36: Challenges faced operationally; Extensive traveling in tier-2 cities; facing the cable mafia and getting them onboard! 25:23-28:34: Facing the problem of scale and changing the targeting through research on larger brands 32:48-39:03: Friction with the TV channels; Broadcasters v/s Amagi 35:51-38:59: Changing the model and almost starting afresh; tough times as a founder! 41:16-44:22: Grit of continuing even during tough times; Unconditional support from the employees Check out other episodes from the Insights Podcast series at https://www.seedtoscale.com Share your feedback and suggestions at https://www.twitter.com/Accel_India…

SeedToScale | Curated by Accel

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INSIGHTS #68: GRIT Stories | The Ups & Downs of Aprameya's Startup Life, from TaxiForSure to Koo 47:48

4 years ago47:48