Latest news with #ex-McKinsey
Time of India
8 hours ago
- Business
- Time of India
Kissht reports 20% fall in revenue, net profits at Rs 160 crore in FY25
Academy Empower your mind, elevate your skills Mumbai-based consumer lending startup Kissht has reported an 18% fall in net profit to Rs 160 crore on overall revenue of Rs 1,353 crore in financial year 2025, down 20% profits before tax and Esop cost stood at Rs 253 business was impacted by the overall slowdown in consumer lending business and the shutting down on high-margin ultra short duration personal loans, one of the core products of digital lending startups like IPO-bound startup is only processing consumer loans which have a tenure of more than six months and has also entered into secured credit products like loan against property and small business loans as it attempts to become a full-stack digital lending a note issued by rating agency Crisil on Si Creva, the group non-banking finance company of Kissht, it noted that disbursements halved to Rs 9,776 crore compared to Rs 18,527 crore in fiscal the firm's focus on longer tenure loans, the AUM (assets under management) had grown to Rs 4,129 crore from Rs 2,670 crore in fiscal 2024, with 99.5% of the loans being of tenure of more than six months. This share was 65% a year muted performance comes in the context of the overall slowdown in the unsecured consumer lending business which impacted digital lending startups in a major way.'While the interest rate cycle has turned and there is more positivity among companies, banks and the larger NBFCs haven't opened up fully yet, we are expecting things to become better in the second half of the current year,' said a founder of a consumer lending Moneyview and Kreditbee are the three major consumer lending startups which are lining up for their IPOs. While these startups have started working on getting their internal processes in place, ET reported on June 26 that these companies might not actually hit the public market before the end of this year or beginning next founded in 2015, by Ranvir Singh and Krishnan Vishwanathan, ex-McKinsey professionals, has raised $133 million in equity funding from Vertex Ventures, Vetureast and others.
Fashion Value Chain
04-07-2025
- Entertainment
- Fashion Value Chain
CHK Launches Bold Sneaker Collection for Indian Gen Z & Millennials
Homegrown lifestyle brand CHK has officially launched its first sneaker collection, introducing 35 bold styles crafted for young Indians who seek authenticity, individuality, and style. Now available at the launch spans four curated collections designed to reflect diverse personalities and fashion sensibilities: Brat – Edgy, fearless, and unapologetically bold Legend – Sleek and timeless silhouettes for the classic-minded Retro – Vintage-inspired designs reminiscent of the 80s era City Hopper – Street-smart and dynamic styles for life on the move 'We're offering young Indians a new language of self-expression through sneakers,' said Deepan Babu, Co-founder of CHK. 'Each collection combines style, comfort, and innovation for fashion-forward consumers.' Founded in 2024 by a powerhouse team including Sankar Bora (ex-Myntra), Deepan Babu (ex-McKinsey), Bharat Mahajan (ex-Puma, Adidas), and Deepak Patil ( CHK is 100% Made in India. The brand designs in Bangalore and manufactures at its Tamil Nadu facility, ensuring speed, quality, and design control. Key features of the collection include: Size-adjusting insoles for better fit Dirt-repellent coating for lasting cleanliness Lightweight materials for all-day comfort Backed by a $2.5 million seed round led by Accel and BlueStone Jewellery, CHK is set to transform India's sneaker culture. The debut collection will also be showcased at AYC 2025, India's biggest streetwear festival, held at Jio World Convention Centre, Mumbai, from July 4–6.
Yahoo
28-03-2025
- Automotive
- Yahoo
Exclusive: Japanese AI startup CADDi that helps manufacturers optimize supply chains gets $38 million in new funding
CADDi, a Japanese startup that uses AI to help large global manufacturing companies optimize their supply chains, has raised $38 million in new funding from U.K.-based venture capital firm Atomico. The new funding values CADDi at $470 million, the company said. The investment round, which the company is classifying as a 'Series C extension,' brings the total amount of venture funding CADDi has raised since its founding in 2017 to $202 million. CADDi had announced an $89 million Series C round in July 2023, with DCM Ventures, Globis Capital Partners, Minerva Growth Partners, and WiL (World Innovation Lab) all participating in the round. CADDI, which has headquarters in both Tokyo and Chicago, already has some U.S. customers and is planning to use the new funding to ramp up its U.S. expansion. The company also plans to double the number of software engineers it employs, from 150 to 300, Yushiro Kato, the ex-McKinsey consultant who is CADDi's cofounder and CEO, said. The company currently employs 600 people in total. CADDi sells software that addresses a problem many large manufacturing companies have: They have too many similar parts being provided by too many different suppliers. CADDi ingests technical drawings of a part and then searches the company's own data to find similar components—or, in some cases, identical parts—that are already in the company's inventory or that it has bought previously. It also allows employees to search for parts using keywords that may be used in component descriptions. Manufacturers can use CADDi's software to avoid component duplication, optimize supply chains for parts, such as fasteners, that may be common to many different products, and potentially reduce the number of suppliers they are using. That in turn can save costs by reducing the amount of time it takes to source a part and avoiding duplicative procurement processes and related paperwork. It also potentially lets the manufacturer get better prices on parts by purchasing higher volumes from a smaller number of suppliers. Kato told Fortune that the startup's customers are primarily companies that make machinery for factories—for instance, food production machinery, packaging machinery, and semiconductor manufacturing machinery—and also automotive and auto parts companies. He said that one automotive parts customer reduced the number of different fastener SKUs it was using by 60% thanks to CADDi's software. Automotive company Subaru said in a statement provided to Fortune that using CADDi's software had saved it 'hundreds of hours per month' in the time employees spend searching for technical drawings. DENSO, the Japanese auto parts company, has a partnership with CADDi and said in a statement that the company's software allows younger, less experienced workers source components faster. Previously, procurement processes were dependent on the knowledge of veteran workers, many of whom are now approaching retirement age, DENSO said. It also said that it was working with CADDi to develop additional product features, such as the ability to search three-dimensional drawings, as well as two-dimensional engineering schematics. Kato declined to reveal the company's current revenues or the total number of customers currently using the platform. But he said the company was targeting $1 billion in revenue from its software platform by 2030. When CADDi was first founded, it functioned as a kind of 'Amazon marketplace for machinery components,' Kato said. Customers would send it technical drawings or engineering specs for parts that they needed, and CADDi would go out and source those parts for the customer, acting as a kind of parts broker. In order to do this efficiently though, the company wound up developing a lot of its own software, including AI models that can do searches based on technical drawings. Three years ago, Kato and his cofounder Aki Kobashi, who is CADDi's chief technology officer, pivoted away from being a parts marketplace, instead selling the AI software it had developed as a cloud-based platform to manufacturing companies. This story was originally featured on Sign in to access your portfolio
Yahoo
11-02-2025
- Business
- Yahoo
We got a DOGE staff list. From a McKinsey alum to a former Clarence Thomas clerk, here are the workers powering Elon Musk's cost-cutting squad.
Three weeks into Trump's second term, the makeup of Elon Musk's DOGE staff is becoming clearer. BI saw a list of around 30 staffers at the White House DOGE office; nearly all are early or mid-career professionals. They include tech advisors, a former Clarence Thomas clerk, and a former McKinsey consultant. Software developers. Former Supreme Court clerks. An ex-McKinsey consultant. Corporate financiers. Three weeks into the second Trump administration, the composition of Elon Musk's "Department of Government Efficiency" team is becoming clearer. White House records seen by Business Insider show around 30 people now work for the White House's DOGE office. At least four of the names haven't been previously reported. Among them are Kendall Lindemann, 24, who worked for a healthcare firm founded by senior DOGE official Brad Smith, and Adam Ramada, 35, an investor whose firm took a stake in a SpaceX supplier last year. Other new names are Kyle Schutt, 37, a tech startup worker who was most recently employed at an AI interviewing software company, and Austin Raynor, 36, a lawyer who clerked for Supreme Court Justice Clarence Thomas. Raynor was interviewed on NTD news in November 2024, outlining how Trump could challenge birthright citizenship. Since January 20, the DOGE team has moved quickly to dismantle federal agencies, reduce staff, slow down enforcement, and gain access to the digital systems that help shepherd trillions of taxpayer dollars. While the US DOGE Service is part of the White House Office, the White House has not released details about its inner workings or staff; the list seen by BI helps shed light on the powerful young squadron tasked with remaking the federal government. Most of the over two dozen people on the White House DOGE staff are early-career professionals in their 20s and 30s. They have backgrounds primarily in tech but also in finance, law, and politics. BI confirmed their backgrounds through public records, including social media profiles and legal filings. The records categorize nearly all of the DOGE staffers as volunteers. Wired earlier reported that DOGE engineer Luke Farritor — who is also on the list seen by BI — posted to Discord looking for software engineers. He said that the position would be "paid," but not by whom, according to the outlet. The records seen by BI don't include the names of some DOGE affiliates who have appeared in legal filings and news reports as working for other agencies, like Treasury employees Tom Krause and Marko Elez. Elez resigned from the Treasury Department last week after The Wall Street Journal reported on racist social media posts from an account linked to him; Musk said on X one day later that he would rehire him. Beyond the gates of 1600 Pennsylvania Avenue, the executive order behind DOGE called for agencies to create their own "DOGE Teams," and people linked to Elon Musk have popped up in employee directories at the Treasury Department, the Consumer Financial Protection Bureau, the Department of Education and other agencies, according to news reports. Some of the people listed as White House DOGE staff are also employees of other agencies. The White House did not reply to a request for comment. Here's a breakdown of the DOGE team. Tech workers make up the largest chunk of the DOGE team on the list reviewed by BI. Some are veteran software engineers. Schutt was most recently the chief technology officer at Kerplunk, an AI interviewing software startup, and has a Ph.D. from Virginia Tech. Schutt didn't respond to a request for comment. Others on the list are relatively junior. Edward Coristine is 19, and Farritor, 23, a former SpaceX intern, was a senior at the University of Nebraska when he was named a Thiel Fellow last year. Two close associates of Musk are also on the list. Steve Davis, who was trained as an aerospace engineer, now leads The Boring Co., Musk's tunneling company; Jehn Balajadia has been described as Musk's assistant. The New York Times reported that she is also listed as a Department of Education employee. Davis and Balajadia did not respond to requests for comment. Some White House DOGE staff have corporate finance and management backgrounds. Lindemann graduated from the University of Tennessee's business college in 2022. She worked for McKinsey for about two years, according to her LinkedIn profile, and in 2024 left for Russell Street Ventures, the health-industry investment firm run by Smith, the senior DOGE official. Smith worked at the Center for Medicare and Medicaid Services in the first Trump administration. Lindemann worked at Russell Street Ventures as a venture associate, an entry-level job in the venture capital industry. Lindemann, Davis, McKinsey, and Russell Street Ventures didn't respond to requests for comment. According to campaign finance records, White House DOGE staffer Ramada is a Miami-based venture capitalist who donated over $1,000 to Republican fundraising committees last year. One of his companies, Spring Tide Capital, invested in Impulse Space, which was founded by a SpaceX employee and has contracted with SpaceX. Ramada and Spring Tide Capital didn't respond to a comment request. There are five lawyers listed as part of the DOGE White House staff, and the majority have clerked for conservative Supreme Court justices. Raynor, a graduate of the University of Virginia's law school, clerked for Justice Clarence Thomas for the Supreme Court term that started in October 2016, and spent time as an associate at Sullivan & Cromwell. During Trump's first term, he served as an assistant to the Solicitor General. He has argued in front of the Supreme Court at least eight times. He was most recently a senior attorney and special counsel for the Supreme Court practice at the Pacific Legal Foundation, a libertarian organization. Raynor's November TV segment and Trump's executive order to end birthright citizenship used similar language, though Raynor wasn't the first person to make such arguments. Raynor declined to comment when reached by BI. Other names on the list, which have been previously reported, include Jacob Altik, Keenan Kmiec, and Stephanie Holmes. Altik has was selected to clerk for Justice Neil Gorsuch for the term starting in October 2025, while Kmiec clerked for Chief Justice John Roberts, as well as clerking for Samuel Alito while Alito was still a federal circuit judge. James Burnham, who ProPublica described as DOGE's general counsel, clerked for Justice Neil Gorsuch and was previously a partner at the law firm Jones Day. Of the list of White House DOGE staffers, only one appears to have previously worked in politics. Chris Young, who Musk hired as an advisor over the summer to help his get-out-the-vote work, was most recently a senior political advisor at PhRMA, a trade association that advocates on behalf of pharmaceutical companies. He was previously a national field director for the Republican National Committee. He did not respond to a request for comment. Have a tip? Know more? Reach Jack Newsham via email (jnewsham@ or via Signal (+1-314-971-1627). Do not use a work device. Read the original article on Business Insider
