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Time of India
16-07-2025
- Business
- Time of India
Scoring with AI not enough to crack US enterprise code
Academy Empower your mind, elevate your skills Indian artificial intelligence startups, which are making a beeline to the US to be close to customers, are taking longer to conclude deals and run pilots with US enterprises, amid rising competition and changing business landscape, founders and investors startups are looking at strategic partners and investors who have deep enterprise networks and can help them connect with potential customers, they told SaaS, where the market had evolved and people were buying, founders were able to get a couple of customers through emails and messages, but in the AI world, confusion is high even for buyers, Accel India partner Shekhar Kirani said. 'So, they need assistance at least for the next 12-24 months, when it becomes obvious that the products work.' Enterprise sales have always been hard and required the founders to work on-site to gain the last couple of years, AI has changed the landscape by drastically bringing down the time taken to develop a product. This has resulted in proliferation of AI platforms and applications, cluttering the market, increasing competition and changing the enterprise sales Ayyagari, cofounder, SnowMountain AI , an agentic AI platform for banking and financial services, said with AI coming in, the time taken to close the deals have increased significantly, with some companies going as far as getting into code-level discussions to gain trust from customers.'Earlier it would take 6-9 months to get a signalling from a company, if they are interested in the product or not. Now that is taking 12-18 months. Even getting demos is hard now,' he said. He explained that more often than not enterprises are running multiple pilots and are beginning to put new pilots on pause till they have Krishnan, founder of NuWare, a US-based IT services company, said during his conversations with the chief information officers of large enterprises in the US, he has found that they are often seeing over 20 companies that are selling similar products and hardly have time to have a demo with each of these Vivek Khandelwal, cofounder of agentic AI solutions startup CogniSwitch , was in the market for a security compliance product and said he was confused.'This market is equally miserable for buyers. We are at a point where we have to flip a coin and go with whoever it is, because there are so many products and everyone's messaging is exactly the same,' he went ahead with a company that was known to him. But he agrees that the market is Agarwal, cofounder of Raga AI, which offers an agentic workflow testing platform, said though building enterprise-quality products is tough, the field has become noisy, confusing the buyers as navigate this challenge, founders are looking to partner with investors and domain experts that can help with of SnowMountain AI said his company has partnered with domain experts such as former banking executives to get customers Abbey, founder of an AI startup catering to the banking and financial services companies, said she partners with strategic investors in the US that can make warm Krishnan, who also runs investment firm NuVentures, said they are helping their portfolio companies with customer introductions, which are now becoming critical and a key differentiator as companies look to break into enterprises in the Goyal, partner, Stellaris Venture Partners, said customer introduction is one of the most critical help portfolio companies need as they search for a product-market fit and early traction in an increasing competition for enterprise founders and investors are navigating a dynamic business landscape, there are other challenges as previous tech cycles, speed is the moat in AI, as the technology evolves at a rapid pace. This means startups need to iterate fast and that is one of the reasons founders are moving to the who was cited earlier, said she flies in and out of the US to be closer to customers and iterate Goyal said many enterprises are in a wait-and-watch mode as continued competitiveness of existing solutions is questionable with underlying technology evolving so rapidly. In addition, amid the uncertain macroeconomic environment, investments are being postponed; this presents a challenge as well.
Entrepreneur
30-06-2025
- Business
- Entrepreneur
Curefoods India Files DRHP with SEBI for INR 8,000 Mn IPO
You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Curefoods India Limited, a fast-growing digital-first multi-brand food services company, has officially filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), marking a significant step toward launching its Initial Public Offering (IPO). The proposed IPO consists of a fresh issue of equity shares aggregating up to INR 8,000 million, along with an offer for sale (OFS) of up to 48,537,599 equity shares by existing shareholders. The selling shareholders include Iron Pillar PCC, Crimson Winter Limited, Accel India V (Mauritius) Limited, Chiratae Ventures, Global Ecommerce Consolidation Fund, Curefit Healthcare Private Limited, and others. Curefoods plans to use the net proceeds of INR 152.54 crore from the fresh issue primarily for business expansion. The fund allocation includes INR 126.32 crore for launching new Krispy Kreme cloud kitchens, restaurants, kiosks, and central kitchens; INR 19.91 crore for expanding select existing cloud kitchens with new brands; and INR 6.31 crore for machinery and strategic initiatives. Founded with a vision to reshape the food services landscape in India, Curefoods has rapidly scaled its operations. As of March 31, 2025, the company operated across 502 service locations in over 70 cities, comprising 281 cloud kitchens, 122 restaurants, 99 kiosks, and five central kitchens. Its supply chain backbone includes 13 strategically located warehouses that ensure efficient logistics and timely deliveries. Its prominent brands include EatFit, CakeZone, Nomad Pizza, Sharief Bhai Biryani, Olio Pizza, Frozen Bottle, Millet Express, and the iconic Krispy Kreme. These brands serve a variety of customer needs—from healthy meals to indulgent desserts—across different price points and meal occasions. In FY25, Curefoods operated 10 key brands, each generating over INR 240 million in revenue. The contribution of these brands to the company's revenue increased from 95.32% in FY23 to 98.35% in FY25. Operationally, the company handled 18.23 million orders in FY25, up from 11.38 million in FY23. Curefoods also made its international debut in 2024, launching its flagship brand Sharief Bhai in the United Arab Emirates, signaling its ambitions beyond the domestic market. The IPO will be managed by JM Financial Limited, IIFL Capital Services Limited, and Nuvama Wealth Management Limited as the Book Running Lead Managers. With a strong digital foundation, robust delivery network, and rapidly expanding footprint, Curefoods' upcoming IPO is expected to draw significant interest from investors eyeing India's dynamic and tech-enabled food services market.
Mint
29-04-2025
- Business
- Mint
Upcoming IPO: Urban Company files DRHP with Sebi for ₹1,900 crore IPO
Urban Company, a provider of mobile app-based beauty and home care services, has filed draft papers with the capital markets regulator SEBI on Monday to raise ₹ 1,900 crore through an initial public offering (IPO). According to the Draft Red Herring Prospectus (DRHP), the company plans to raise ₹ 429 crore by issuing fresh shares, while existing investors intend to offload stakes worth ₹ 1,471 crore through an Offer for Sale (OFS). The investors participating in the OFS include Accel India, Elevation Capital, Bessemer India Capital Holdings II Ltd, Internet Fund V Pte. Ltd, and VYC11 Ltd. The company plans to allocate ₹ 190 crore for the development of new technology and cloud infrastructure, ₹ 70 crore towards lease payments for office spaces, ₹ 80 crore for marketing initiatives, and the remaining funds for general corporate purposes. Founders Abhiraj Singh Bhal, Varun Khaitan, and Raghav Chandra, who collectively own about 21% of the company, will not be selling any shares in the IPO. Kotak Mahindra Capital Company, Morgan Stanley India Company, Goldman Sachs (India) Securities, and JM Financial are the book-running lead managers for the offering. The company has reduced the total size of its IPO from the previously planned ₹ 3,000 crore. From the fresh capital it raises, Urban Company intends to allocate ₹ 190 crore for new technology development and cloud infrastructure, with the rest of the funds earmarked for office lease payments and marketing initiatives. Urban Company runs a technology-enabled, full-stack online marketplace offering high-quality home and beauty services. As of December 31, 2024, it operates in 59 cities across India, the United Arab Emirates, Singapore, and the Kingdom of Saudi Arabia, with 48 cities located in India. Its platform connects consumers with independent service professionals for a range of services including cleaning, pest control, electrical work, plumbing, carpentry, appliance repair and servicing, painting, skincare, hair grooming, and massage therapy, all at the customer's convenience.
Time of India
28-04-2025
- Business
- Time of India
Urban Company files draft papers for Rs 1,900 cr IPO
New Delhi: Urban Company , which offers mobile app-based beauty and home care services , on Monday filed preliminary papers with capital markets regulator Sebi to raise Rs 1,900 crore through an initial public offering (IPO). The company proposed to raise Rs 429 crore through selling new shares and existing investors plan to sell stakes worth Rs 1,471 crore, according to the Draft Red Herring Prospectus (DRHP). Those selling shares under the offer for sale (OFS) route are -- Accel India and Elevation Capital, Bessemer India Capital Holdings II Ltd, Internet Fund V Pte. Ltd and VYC11 Ltd. The company proposes to use Rs 190 crore for new technology development and cloud infrastructure, Rs 70 crore for lease payments for its offices, Rs 80 crore towards marketing activities, and the balance towards general corporate purposes. Urban Company operates a technology-driven, full-stack online marketplace for quality-driven services and solutions across various home and beauty categories. It is present in 59 cities across India, United Arab Emirates, Singapore, and Kingdom of Saudi Arabia, of which 48 cities are in India, as of December 31, 2024. Its platform enables consumers to order services, including cleaning, pest control, electrician, plumbing, carpentry, appliance servicing and repair, painting, skincare, hair grooming and massage therapy. These services are delivered by independent service professionals at the consumers' convenience. Kotak Mahindra Capital Company, Morgan Stanley India Company, Goldman Sachs (India) Securities and JM Financial are the book-running lead managers to the issue.
