ET Startup Awards 2022: All the Details
Led by Salil Parekh, CEO and Managing Director of Infosys, the judging panel convened virtually to choose the winners, at a time when the global startup and tech ecosystem is rocked by economic and geopolitical uncertainty.
Learn more about the 10-member high-level jury here
The biggest and most important element for the jury is a 200-page file that we have prepared. This manual, rich in information which remains confidential with the jury, is subject to multiple checks and re-checks before being finalized.
How we select ETSA nominees: ET reached out to more than 200 of the country’s top entrepreneurs, investors, industry groups and other stakeholders to compile a list of the brightest entrepreneurial talent. This was then distilled by the publication’s editorial team, who worked with knowledge partner Tracxn to arrive at the final list. The jury finally chose the winners after long deliberations followed by a vote.
Here is an overview of the nine award categories and nominees:
- Bootstrap Champ: Flexiple, Noise, The White Willow, Himalayan Organics, Trackier
- Best Innovator: Eyestem, Haber, Eeki Foods, Exponent Energy, Astrogate Labs
- Comeback Kid: Aravind Sanka, Rishikesh SR and Pavan Guntupalli (Rapido), Surjendu Kuila and Mayank Gupta (Zopper), Baskar Subramanian, Srinivasan KA and Srividhya Srinivasan (Amagi), Shivakumar Ganesan, Ishwar Sridharan and Sachin Bhatia (Exotel), Vineeta Singh and Kaushik Mukherjee (Sugar Cosmetics)
- Social enterprise: Chakr Innovation, Digivriddhi Technologies, Gramcover Insurance Brokers, Stellapps Technologies, Banyan Nation
- Best on Campus: ClaimBuddy, Solinas Integrity, Sanfe, Bhanzu, Vecros
- Woman in front: Meghana Narayan and Shauravi Malik (Slurrp Farm), Supriya Paul (Josh Talks), Smita Deorah (Lead School), Saroja Yeramilli (Melorra), Suhasini Sampath and Anindita Sampath (Yoga Bar)
- Midas Touch: Vikram Vaidyanathan (Matrix Partners India), Mohit Bhatnagar (Sequoia Capital India), Shekhar Kirani (Accel India), Suvir Sujan (Nexus Venture Partners), Akshay Tanna (TPG Growth)
- Startup of the Year: Browserstack, Razorpay, OfBusiness, Lenskart, Dream Sports
- CEO of the Year: Kalyan Krishnamurthy (Flipkart), Hari Menon (BigBasket), Sahil Barua (Delhivery), Falguni Nayar (Nykaa), Amrish Rau (Pine Labs)
The winners will be announced on Monday. Watch this space for more!
Let’s take a look at the other big developments of the week.
Elon Musk’s tumultuous journey to acquire Twitter comes to an end
Tesla chief Elon Musk’s tumultuous $44 billion bid to buy Twitter has closed after months of uncertainty and speculation. Musk tweeted “the bird is released” Thursday, spreading the company logo, shortly after saying he made the purchase “to help humanity, which I love.”
Shortly after, Musk fired chief executive Parag Agrawal, chief financial officer Ned Segal and director of legal and policy affairs Vijaya Gadde.
ETtech explanation: How the Elon Musk-Twitter saga unfolded amid high profile shootings, cat leaks and more
We spoke to experts, who said Musk’s ‘free speech absolutist’ stance could escalate Twitter’s clashes with the Indian government, which pressures social media companies to abide by the rules. local regulations. Musk’s statement to advertisers, however, appeared to tone down the rhetoric, signaling some moderation in the way he viewed the platform, the experts added.
A day after the Twitter deal was struck, Elon Musk announced on Friday that the social media platform would form a content moderation board with “very diverse viewpoints.”
Startups turn to convertible notes
Amid the ongoing funding drought, startups are turning to other ways to raise funds, and convertible notes have become the new favorite. This week, D2C audio products and wearables brand Boat reached a $60 million (about Rs 500 crore) financing deal through convertible preferred stock notes with existing investor Warburg Pincus and the new investor Malabar Investments.
Summary of ETtech offers: With financing hard to come by, startups turn to convertible notes
B2B e-commerce startup Udaan also raised $120 million through convertible notes and debt from existing shareholders and bondholders. “With this round, the total funds raised by Udaan through convertible notes and debt over the past four quarters exceeded $350 million, making it one of the largest instrument fundraisings structures in the country,” said its chief financial officer, Aditya Pande. in an internal email to employees.
Read also | Early-stage startups take alternative funding route amid falling valuations
Google plans to challenge CCI’s order
Google plans to go to court in a bid to block a ruling by India’s Antitrust Competition Commission, which ordered the tech giant to change its approach to its Android operating system. Google is concerned that following the CCI guidelines will restrict how it promotes the platform, sources told Reuters.
Unit Alphabet Inc has been fined $275 million in two antitrust rulings since last week – one for its in-app commission charging policy and the other for abusing its position on the Android operating system market.
Click here to read the latest development
Consequences of WhatsApp failure
Messaging platform WhatsApp submitted a report to the IT ministry on the service outage on Tuesday after the ministry asked the Meta-owned messaging platform to explain why there had been an outage on duty.
WhatsApp suffered a nearly two-hour outage, with users complaining that they could not send or receive text and video messages. “The brief outage was the result of a technical error on our part and has now been resolved,” a spokesperson for Meta said.
The Department of Electronics and Information Technology (MeitY) had asked Meta whether the disruption was due to an internal bug or a cyberattack.
The IT Ministry has also asked WhatsApp to coordinate with India’s Computer Emergency Response Team (Cert-In) to determine if there has been an unwanted cyber incident involving the company’s servers in time of failure.
The market arm of e-commerce company Flipkart, Flipkart Internet, saw a 33% increase in operating revenue in fiscal 2022, but its loss for the year widened once and half, because she spent more on order delivery as well as advertising and promotions.
Walmart’s Indian unit posted a net loss of Rs 4,361 crore on operating revenue of Rs 10,476 crore in the financial year ended March 31, 2022, according to regulatory filings from business intelligence platform Tofler.
Meanwhile, Myntra, the Flipkart-owned fashion online retailer, reported a 45% increase in revenue from its operations to Rs 3,501 crore. However, its net loss widened by 40% to Rs 597 crore in FY22, according to regulatory documents viewed by business intelligence platform Tofler.
Myntra’s revenue from market services increased by 18% to Rs 1,610 from Rs 1,359 crore last year. The company’s revenue from logistics services nearly doubled to Rs 1,498 crore in FY21, while advertising revenue jumped 76% to Rs 344 crore.
ET E-Commerce Index
We have launched three indices – ET Ecommerce, ET Ecommerce Profitable and ET Ecommerce Non-Profitable – to track the performance of recently listed technology companies. Here’s how they’ve fared so far.
Other top stories from our journalists
“Policybazaar’s parent company will be profitable in the next fiscal year”: In an exclusive interaction with ET, PB Fintech Executive Chairman and CEO Yashish Dahiya said online insurance aggregator Policybazaar is on the road to profitability and is expected to post an after-tax profit over the next fiscal year 24. The founding duo of Dahiya and Alok Bansal also said they are not worried about the end of the one-year lock-up for PB Fintech shares next month, as they believe the stock is well regarded and that early investors are likely to hold on to their shares. .
Go digital or become obsolete, says Chuck Whitten: Dell Technologies will continue to invest in all parts of its India business, co-chief operating officer Chuck Whitten said. Indian businesses are in a new era in terms of the rate and pace of digital transformation, consultant-turned-executive Bain said in an interaction with ET.