Founder Thesis

Anand Jain lost his father when he was just 12. This experience caused him to step into an entrepreneurial role very early in life and Anand has literally done it all - from selling detergent door-to-door, to repairing and assembling computers to writing software. Despite no academic track record to speak of, Anand ended up getting hired by a tech company in the Silicon Valley in peak dot com era. And while he could have settled for the American dream and made big dollars, he decided to come back to India and chase impact instead. In India, he set up the original restaurant discovery website before Zomato, and if things had worked out differently - that startup would be a peer of Zomato and Swiggy today. But the best is yet to come and Anand is currently the co-founder and product head at Clever Tap - which is a 100-million-dollar Saas company with a strong focus on serving India. This puts CleverTap into a category of its own with hardly any peers. This conversation is proof that adversity leads to the best kind of resilience and Anand’s humility and depth of insights will leave you hungry for more.Stay tuned for this very special episode of the Founder Thesis podcast with your host Akshay Datt.

It’s no secret that the business model of the internet is basically advertising. Think about what you spend time doing online - there’s a high chance that 80% of the time you are viewing ads. And you might think that the business of serving ads to consumers is done and dusted, but there are still opportunities for startups to win ad dollars away from the googles and the Metas of the world, and one such startup is Adonmo.Adonmo started life as a company converting cabs into ad spaces by installing screens on them. And this was a smart move if you think about it - the offline advertising market is the last great untapped opportunity, and cabs are the perfect way to run hyperlocal ads that dynamically change based on location and time of day. But life had different plans for this young startup, and they went through multiple near-death experiences before finally emerging as a dominant offline hyperlocal ads platform that has raised more than 40 million dollars from the likes of Zomato and others.Listen to the rollercoaster story of Adonmo’s journey straight from its amazing founder Sandeep Bommireddi in this episode of the Founder Thesis podcast, with your host Akshay Datt.

I can bet that almost all of you who are listening to this episode of the Founder Thesis podcast would have interacted with Vehant’s products.    The next time you go into an airport or an office building, take a look at the brand name on the baggage scanner that they are using - there’s a very high chance that you will see Vehant’s logo on it.  But Vehant is so much more than a company that makes X Ray baggage scanners, and in this episode of the Founder Thesis podcast, your host Akshay Datt interviews Kapil Bardeja who founded the company pretty much straight out of college.   The humble startup that was born in the dorm rooms of IIT Delhi is today helping the government power futuristic smart city projects and bring India at par with the western world in terms of the security infrastructure.  Stay tuned for a deep dive into the business of security and safety and subscribe to the Founder Thesis podcast on Youtube or any audio streaming app.

Globally, the market research industry is at least worth a hundred billion dollars!  We really are living in a world where everything is market researched. The ads you watch on TV, the packing designs of products you use, even the movies you watch - they have all gone through a validation process using market research. The reason for this is simple really. When a company intends to spend millions of dollars on a product, they want to reduce the risk of failure.  In this episode of the Founder Thesis podcast, your host Akshay Datt speaks with Rajiv Lamba - the founder of the market research tech company - Neurosensum and Surveysensum.  In this freewheeling chat about entrepreneurship and market research, Rajiv shares valuable insights about the business of market research, building a business with profitability as the primary goal, and b2b sales.  Stay tuned for the conversation and subscribe to the Founder Thesis podcast on any Youtube, Spotify or any streaming app

If you want to understand the evolution of Entrepreneurship in India over the decades, then there is really no better story than this.  Srikumar Misra is the son of an entrepreneur who made the mistake of taking a bank loan backed by him home, and his untimely death ended up teaching the young Sri a valuable lesson about the risks of entrepreneurship.    And you might think that this experience would scar him for life, but it was actually the opposite - despite having a successful global career in the Tata Group, he decided to quit his well-paying job and come back to India to set up a consumer brand in the dairy industry in his home state of Odisha.   And after a 2-year struggle to raise funds to get his business off the ground - Sri finally succeeded in launching Milk Mantra which sells its products under the Milky Moo brand name and is one of the few profitable players in the premium dairy segment.   After scaling Milk Mantra, Sri was bitten by the entrepreneurial bug again and he is currently building Aarna Protocol - the first of its kind AI powered crypto investing platform.   This conversation is a gem in which Sri took us from the very offline and traditional world of selling dairy products to building a tokenized decentralised finance platform to invest in crypto currency.  Stay tuned and subscribe to the Founder Thesis podcast with Akshay Datt.

Whenever we have featured founders who have scaled their businesses meaningfully, it is typically because they have been good at acquiring customers and increasing their lifetime value. But Mayur Abhaya, our guest in this episode, has scaled LifeCell to an annual revenue of about 800 crores on the back of its strong supply chain & delivery capabilities. Mayur’s father was a serial entrepreneur in the pharma and healthcare space and built Shasun Pharma into a 500-million-dollar global pharma manufacturing player. He also set up Lifecell as he saw the gap in the market for stem cell banking. Mayur joined the business when the topline was just 20 crores and over the last 16 years has expanded the business both geographically and in terms of product lines. Today just one fourth of their turnover comes from the original business line of stem cell banking, and some of their business lines are around delivering cutting edge healthcare products to the Indian consumer at amazingly affordable prices.If you care about health-tech then there is no better episode than this for a deeper understanding of the space. Stay tuned and subscribe to the Founder Thesis podcast with your host Akshay Datt.

For a lot of people, hospitality is their ultimate entrepreneurship dream, and they aspire to start a restaurant or a cafe and quit their stressful corporate world career.In this episode of the Founder Thesis podcast - we speak to a hospitality founder who has built and scaled a truly unique hospitality business and given a new age avatar to a very old business.Most of you would be aware of the concept of clubs. Iconic clubs like the Gymkhana club in Delhi have a membership wait time that is measured in decades!!!Vivek saw that there is a massive gap between such old-world clubs and the young India which also aspired for a third place where they can belong to a community, work, experience culture or just unwind. And that is the space that The Quorum club is filling. In this fascinating conversation, Vivek explains what this industry looks like, the business model of Clubs, and the playbook of scaling a very heavily service oriented business. Stay tuned to get a peek into the fascinating world of clubs and subscribe to the Founder Thesis podcast for more such sector specific deep dives.

Some founders are born lucky - and some founders are born to fight against tremendous odds and adversities. This is the story of Vinod Singh who was born in a village in UP which did not even have electricity, and yet through sheer grit and willpower - ended up becoming the CTO of a startup in the UK. And you might think that this is the happy ending of the story, but like they say - picture abhi baaki hai. Vinod then started a business that was initially built around leveraging the potential of IOT technology, and which eventually pivoted to selling software to speciality insurance companies. And that was the birth of Concirrus which went on to raise more than $40mn over the next couple of years. But that is when things fell apart and the founders realised that they had diluted so much of their equity that they no longer had any control over the future of Concirrus and they were on the verge of declaring bankruptcy.Stay tuned to learn what happened next as your host Akshay Datt speaks to Vinod Singh about his amazing journey as a founder and don’t forget to subscribe to the Founder Thesis podcast.

If there is one takeaway from this conversation, then it’s simply this - Boring is beautiful.ProcMart is in the boring business of managing non-core indirect procurements for manufacturers. And by taking care of this simple but time intensive task for companies, ProcMart will cross 1000 crores in turnover this year. The credit for this massive achievement goes to Anish Popli - the founder of ProcMart who loves all things boring. In fact - he shares that their profit margins are actually much higher on simple boring products than on complex products.This episode is proof that as a founder, you must have the maturity to not get distracted by shiny new things and sexy ideas but just keep your head down and execute well. Stay tuned for this insightful conversation and subscribe to the Founder Thesis podcast for more such counterintuitive insights from successful entrepreneurs.

It is rare for D2C startups to be bootstrapped because they need to burn cash to acquire customers initially. But the Just Herbs story is proof that there are clever growth hacks that can help you grow your D2C brand while remaining bootstrapped.Arush Chopra was an aspiring actor who stumbled into a role in private equity which led to the start of his journey in the world of startups. He started Just Herbs with his wife and mother in 2014 out of his family home in Chandigarh. Today, Just Herbs outsells brands like Maybelline and Lakme in the lipsticks category and counts Marico as its primary backer.This conversation is a gem for D2C founders and Arush shares some amazing insights around product channel fit, co-building with customers and running a profitable D2C startup.Stay tuned for tons of insights and subscribe to the founder thesis podcast on any audio streaming app

Some of the best interviews on the Founder Thesis podcast have been ones in which we feature founders of VC funds, and this one is no different.  Arjun Malhotra is the founder and general partner of Good Capital - a high conviction early stage VC fund. Arjun has gone through his own journey of pivots in building Good Capital, with some unexpected turns along the way.  In this candid chat with Akshay Datt, Arjun not only shares how they built up Good Capital, but also explains the strategic choices in front of VC funds which ultimately determines the kind of companies they invest in. He talks about his process of building conviction in a startup and some of the hits and misses in his journey as an investor.   Stay tuned and subscribe to the Founder Thesis podcast if you want to learn some of the best kept insider secrets of the startup ecosystem.   #For more such interesting founder journeys, subscribe to our newsletter https://www.founderthesis.com/

Regular listeners of the Founder Thesis podcast would have heard so many stories of young founders who build their venture straight out of college and keep at it for a decade until they find success.This episode is the exact opposite of that kind of Story.Rajesh Shet had more than two decades of experience in the corporate world when he started SahiBandhu, and that is the reason why in just 4 years SahiBandhu has overtaken much older and better funded rivals to become the gold loan aggregator with the largest monthly disbursements. In fact, their closest competitor has raised almost 200 million dollars over the last nine years.This phenomenal achievement is on the back a hyper focussed strategy that was executed to perfection by Rajesh and his team.This phenomenal conversation is a deep dive into the market of gold loans in India, the gaps in the market, and how SahiBandhu hyper scaled by smartly filling those gapsStay tuned and subscribe to the Founder Thesis podcast for more such deep dive conversations

There are two types of entrepreneurs that we celebrate. The first one is the founder who raised a lot of money and built a highly valued startup on the back of investor money. The second type of entrepreneur - which we think is really the more special type of entrepreneur, is one who started from scratch and built up a business brick by brick on the back of his hustle and grit. HP Singh is a great example of the second type of entrepreneur. He was a CA who accidentally got a chance to start a lending business in the nineteen nineties and has since then built up Satin Creditcare into one of the few listed micro finance companies in India - which today employs about 12 thousand people and has a market capitalization of 2,000 crores.This is truly a story of the old-fashioned approach of building a business using grit, resilience and a bit of luck and HP Singh shares tons of lessons for aspiring entrepreneurs.Stay tuned and subscribe to the Founder Thesis podcast on any audio streaming app.

What’s the first thing that comes to your mind when I tell you that in this episode, we are featuring a Patel who built a business in the US? The stereotype says that he would be running a motel or a convenience store - but this Patel has built a b2b SaaS company that is almost a unicorn. Nishant Patel moved to the US when he was just 14, and then went on to become a techie in the San Francisco Bay area at the peak of the dot com bubble in the year 2000. He was there when the term cloud was coined, and he was so fascinated by the promise of the cloud that he quit his job and started Raw Engineering - which was helping companies adopt cloud technologies. He then achieved the rare feat of building not one but three product businesses within that services business, and the biggest of them is Contentstack. Contentstack is a fascinating business - it’s a pioneer in the space of the headless CMS, and this episode is a deep dive that will help you understand the content space and how it has evolved over the last decade, and what is the secret sauce behind Contentstack because of which it has raised almost 180 million dollars and is near a unicorn valuation.Subscribe to the Founder Thesis podcast for more such deep dives with tech leaders.

Amit Koshal’s entrepreneurial journey began while working on a groundbreaking product at Intuit. Now, at TWID, he’s disrupting payment networks by turning reward points into a currency for transactions—an idea refined over five years of experimentation and failures, eventually leading to the product-market fit. This conversation delves into his path as a founder and his vision for a "happily ever after."Get notified about the latest releases and bonus content by subscribing to our newsletter at www.founderthesis.comRead more about Twid:-1.Twid Unveils Industry-First 'Reward Mandates' to Revolutionise Subscription Payment Setups, Anticipates 15 per cent-20 per cent Reduction in Payment Failures2.From Points To Payments: Transforming Loyalty Programs For The Digital Age3.How rewards-based payment app Twid lets you use loyalty points to shop, eat out, and travel

After a career in U.S. investment banking, Nikhil returned to India to build Imarticus, offering offline-focused boot camps to upskill fresh graduates. Unlike many in the space, Nikhil views Imarticus as an education business rather than an edtech company, with a fundamental focus on delivering real learning outcomes. This approach has helped the company grow and reach an annual revenue of 300 crores with very little outside funding. In this episode, Nikhil talks about how he built a successful education business and discusses the future of offline learning in today’s digital world.Get notified about the latest releases and bonus content by subscribing to our newsletter at www.founderthesis.comRead more about Imarticus Learning:-1.Success Stories: How Data Science and Data Analytics Courses Have Transformed Careers?2.Winning Stroke: Interview With Nikhil Barshikar, MD, Imarticus Learning3.MY STARTUP IDEA: Imarticus Learning founder on his Eureka moment4.Bridging the industry-academia gap: Minimizing wrong career choices5.Celebrating a decade of excellence in professional education: Imarticus Learning completes 10 years6.Imarticus Learning the first and only approved provider for world's top 4 accounting certifications

Every year millions of young people migrate for jobs or education, creating a big market for hostels and paying guest accommodations. However, succeeding in this business depends on managing the operational complexities and getting the small details right. Zolo, one of India’s largest co-living companies, has mastered this challenge, currently managing living spaces for 60,000 people. In this episode, Nikhil shares the management mantra that helps him lead Zolo’s 2,500 employees and explains how he made operational excellence the company’s core strength.Get notified about the latest releases and bonus content by subscribing to our newsletter at www.founderthesis.comRead more about Zolo Stays:-1.Zolo Stays redefines living experience for students and singles2.How Zolostays is using customer experience to create its niche in the crowded co- living market3.We provide 60-70% more value to the stay compared to local PGs: Dr. Nikhil Sikri, Co-founder and CEO of Zolo Stays4.Handling large teams across multiple verticals, we need to ensure that they are involved and know they are part of the team: Nikhil Sikri, Zolo Stays5.A fresh take on urban living

Neeraj Khandelwal is a passionate Indian who aspired to serve his country as a civil servant. When his initial plan fell through, he channelled his determination into exploring new ways to fulfil this objective. He saw the transformative potential of cryptocurrency and invested in building India's crypto infrastructure, leading to the creation of CoinDCX. In this episode, he decodes how crypto will change the world and how CoinDCX is paving the way for this future.Read more about CoinDCX:-1.Blockchain critical for India: 40u40 2024 Neeraj Khandelwal, CoinDCX2.Revolutionising Web3 integration: CoinDCX’s Neeraj Khandelwal reveals Okto Web3 SDK's game-changing role in India's Web3 mass adoption3.CoinDCX’s money minters4.Revolutionising Finance- AMA with Neeraj Khadelwal5.Regulation, conducive environment among top factors to fuel crypto trading among Indian investors: Sumit Gupta of CoinDCX6.Celebrating 6 years of building the future of Internet in India.7.4 observations on India’s booming crypto sector from CoinDCX co-founder Neeraj Khandelwal

Anand is an IT veteran who started his career three decades back and in his last role was heading an IT services company. Noticing the pain his customers were facing in searching and interpreting data, he recognized the need for a fundamentally new approach to insight generation, which led to the creation of Findability Sciences. In this episode, he talks about how AI is impacting large enterprises and the value it can bring to businesses.Get notified about the latest releases and bonus content by subscribing to our newsletter at www.founderthesis.comRead more about Findability Sciences:-1.AI is key for business growth as it enables data-driven decisions: Findability Sciences CEO Anand Mahurkar2.Exclusive Interview with Anand Mahurkar, Founder and CEO, Findability Sciences3.Fortune Magazine recognizes Findability Sciences as one of America's Most Innovative Companies4.India’s AI roadmap in 2023: From CAGR 20% growth to creating endless job opportunities

Deepak Sahni shares his remarkable journey of building one of the largest diagnostics companies in the preventive space. Starting his entrepreneurial journey as a teenager, Deepak has consistently dared to dream bigger with each venture over the last two decades. In this episode, he reveals the secrets behind scaling Healthians to a revenue run rate of over 500 crores and raising 80 million dollars. This conversation is nothing short of a masterclass in entrepreneurship—perfect for anyone looking to take their big leap.Get notified about the latest releases and bonus content by subscribing to our newsletter at www.founderthesis.comRead more about Healthians:-1.How a College Dropout Fought Back, Completed His Degree, and Built a Rs 240 Crore Turnover Health Lab Chain2.How One Man’s Dream is Making India Healthier3.Once A College Dropout, Now The CEO Of India's Leading Diagnostics Firm, Healthians, Meet Health-Tech Veteran, Deepak Sahni4.COVID 19 – How a Crisis is Nudging us to Reinvent