Convanto

All about Convanto. Convanto is a boutique Investment Banking firm focused on fundraising and consulting small, medium, and large-sized companies. Over the years, it has executed fundraising assignments for numerous Fin-Tech, B2B Tech and direct to consumer start-ups. With a range of services aimed at enabling young start-ups, Convanto works with professionals that help start-ups with services such as Fund Raising, Marketing & Growth Advisory, GTM strategic advisory and value-added services such as building Pitch Decks and Financial Models. #convanto #venturecapital #business #digitalmarketing #pitchdeck #pitchdecktips #startup #investorpitch #smallbusiness #familyoffices #investornetwork #billionaires #businessplans #globalcapitalnetwork #entrepreneurship #enterpreneur #marketresearch #startups #entrepreneur #graphicdesign #funding #venturecapitalist #mentorship #startupmentorship #fundraising #financialmodel #tech #investmentbanking

ixigo’s acquisition of a 51% stake in Zoop Web Services Private Limited reflects a strategic move to bolster its dominance in the railway ecosystem. With Zoop's services, including meal bookings and PNR status checks, integrated into ixigo's platform, this acquisition will enhance its value proposition, particularly in the train travel vertical, which contributed 53% of its revenue in Q2 FY25. The deal, valued at Rs 12.54 crore and inclusive of a non-compete fee, positions Ixigo to streamline the travel experience by offering both ticketing and e-catering solutions under one roof. Zoop’s expansive network, servicing 18 states and 192 railway stations through 400 restaurant partners, will provide ixigo's users with seamless access to in-transit meals and other services. Given ixigo's history of strategic acquisitions, including its 2021 takeovers of Confirmtkt and AbhiBus, the Zoop deal signals further consolidation of its offerings. Zoop, founded in 2016 by Puneet Sharma and Manoj Kumar, recorded revenue growth from Rs 4.1 crore in FY23 to Rs 7.65 crore in FY24, marking a profitable year. The business has shown commendable frugality, built with less than Rs 2.7 crore in capital, making it an attractive acquisition target for ixigo. Saurabh Devendra Singh, Group CFO of Ixigo, emphasized the significant potential of the food delivery market for rail passengers, which Zoop estimates to exceed $1 billion. This suggests the market can grow 10-15 times, offering a vast opportunity to better monetize ixigo's existing train audience. The option to buy the remaining 49% stake in the future leaves room for greater integration as Ixigo strengthens its position in the travel tech space. Despite the growth in operational revenue by 26%, ixigo’s 51% decline in profit after tax in Q2 FY25 raises questions about the profitability of its aggressive expansion. Will the benefits from these acquisitions be enough to reverse the trend? This acquisition will likely allow ixigo to capture a larger share of the train-traveling audience while expanding its foothold in auxiliary services. #Ixigo #Zoop #TrainTravel #FoodDelivery #Acquisition #TravelTech #RailwayEcosystem Vandana Tolani

DeHaat, a full-stack agritech marketplace, continues to push boundaries in India's agricultural sector, recording a 36% growth in gross revenue, surpassing the Rs 2,600 crore mark in FY24. What stands out is their 49.2% increase in the sale of agri outputs, driving 79.3% of their revenue. While the agri inputs side saw modest growth, the company’s diversification across crop advisory, weather reports, and mandi rates positions them as a key player in this evolving space. Despite their growing revenue, DeHaat has managed to reduce losses by 34%, reflecting better cost management. However, with sticky core expenses and rising transportation costs (up by 76.8%), profitability remains elusive. The cost of materials alone surged to Rs 2,414 crore, showing the intensity of running a marketplace of this scale. With competition heating up from players like Ninjacart and Waycool, DeHaat still has a tough climb ahead to show profits. But with strong investor backing (Peak XV holds 13%), their potential remains high. Scaling is one thing, but the path to profitability will define their long-term success. The road ahead? More fund infusions seem likely, raising questions about the influence of investors on the firm’s strategic direction. Vandana Tolani #Agritech #DeHaat #StartupGrowth #InnovationInAgriculture #IndiaAgriculture #TechInAgriculture

WOW Skin Science, a key player in the D2C beauty and personal care space, continues to face challenges, with its operating revenue declining by 9.6% to ₹233.49 crore in FY24, following a 23% drop in FY23. Despite the drop, the company managed to narrow its losses by 39% to ₹130 crore, thanks to a 46% cut in marketing expenses and overall cost reductions. However, the journey to profitability remains daunting. The company's total expenses decreased by 22.45% to ₹377 crore in FY24, largely driven by a reduction in marketing spend (₹107.84 crore) and material costs (₹94 crore), but employee benefit expenses surged 35% to ₹53.5 crore. On a per-unit basis, WOW Skin Science still spent ₹1.61 to generate every ₹1 in revenue—a clear sign of profitability struggles, with an EBITDA margin of -40.73% and ROCE at -48.45%. Having raised ₹788.67 crore over its lifetime, with Chrys Capital holding a 26% stake, WOW Skin Science is attempting to navigate through a fiercely competitive market that includes successful brands like Mamaearth and Minimalist. Mamaearth posted ₹1,920 crore in revenue and ₹147 crore in net profit in FY24, while Minimalist saw its revenue surge 89% to ₹347 crore. While Wow Skin has expanded into the cosmetics category with Colour Cupid, its core challenge remains differentiation in a market where discounts have become the norm, and innovation is key. #D2C #BeautyAndPersonalCare #WowSkinScience #FinancialPerformance #StartupStruggles #ConsumerTrends #MamaEarth #Minimalist Vandana Tolani

Meesho's financial performance in FY24 presents a compelling narrative of growth and cost optimization. The SoftBank-backed e-commerce platform recorded an impressive 33% YoY growth in operating revenue, reaching Rs 7,615 crore. This surge was largely driven by a 36% increase in order volumes, with top-performing categories including home & kitchen, beauty & personal care, and baby essentials. More notably, Meesho managed to slash its losses by 97%, reducing them to Rs 53 crore from Rs 1,569 crore in FY23. While the exact expense breakdown remains unclear, the company credited organic growth and cost efficiencies, notably through its in-house logistics arm, Valmo Logistics, launched earlier in the year. This demonstrates a strategic focus on operational efficiency, which has played a pivotal role in the company’s near-term profitability goals. The firm also completed its largest ESOP buyback program, valued at $25 million, signaling confidence in its workforce and long-term vision. With 14.5 crore annual transacting users and over 50 crore downloads, Meesho remains a formidable player in India’s e-commerce landscape, competing closely with industry giants Flipkart and Amazon. The recent $275 million tranche secured by Meesho, part of a larger funding round, further strengthens its position as it eyes a potential IPO, with ongoing discussions about relocating its domicile from the U.S. to India. As Meesho continues to refine its business model and scale operations, it appears poised to achieve full fiscal profitability by FY25 or FY26, aligning its growth trajectory with broader market expectations. Vandana Tolani #Meesho #Ecommerce #Profitability #RevenueGrowth #StartupSuccess #ValmoLogistics #IndianMarket #CostEfficiency #TechInnovation #BusinessTransformation #D2C

Convanto wishes you and your loved ones a joyous, radiant, and prosperous Diwali! May the festival of lights illuminate your path, guiding you towards wisdom, success, and happiness. May Goddess Lakshmi's blessings bring good fortune, prosperity, and harmony to your life. Wishing you a Diwali that shines brighter than ever! From Convanto Family Vandana Tolani #ConvantoWishes #HappyDiwali #FestivalOfLights"

Wishing everyone a very Happy Dhanteras from all of us at Convanto! May this auspicious day bring prosperity, happiness, and success to you and your loved ones. Vandana Tolani #Dhanteras #Prosperity #NewBeginnings #Convanto

Licious, one of the leading D2C meat and seafood brands in India, has faced a challenging yet transformative couple of years. Despite a slight decline in revenue from Rs 746 crore in FY23 to Rs 685 crore in FY24, the company made significant strides in cost management, reducing its losses by 44%. This drop in revenue was largely due to the closure of distribution partnerships with platforms like Dunzo and Swiggy Meatsore, along with a reduced focus on modern trade and local retail stores. Licious' shift towards a full-stack D2C model is evident as its app now contributes to 85% of its business, serving 1.2 million customers monthly. Notably, its flagship program, Infinity, plays a crucial role, accounting for 58% of overall revenue. The company is also exploring innovations like 30-minute deliveries in Gurugram, aiming to enhance customer experience and convenience. However, Licious hasn’t been immune to the operational pressures that come with scaling. It laid off 80 employees as part of an "operational reset" toward the end of FY24, sharpening its focus on sustainable growth. Despite these challenges, Licious remains optimistic, with projections of positive EBITDA in the current fiscal year. On the competitive front, Licious continues to hold a significant stake in the D2C meat sector but faces growing competition from players like FreshToHome, Zapfresh, and Zepto's in-house brand, Relish, which has made a rapid entry into the market with impressive growth numbers. With the recent acquisition of My Chicken and More, Licious is expanding its physical footprint, ensuring that it remains a formidable player in this fast-evolving space. Vandana Tolani #Licious #D2C #MeatAndSeafood #RevenueGrowth #CostManagement #StartupSuccess #FY24 #FoodTech #IndianStartup #BusinessTransformation

Zouk's recent $10M Series B funding, led by Aavishkaar Group, marks a significant milestone for the homegrown, vegan leather brand. With a growing network of over 700,000 customers, Zouk’s journey from handmade bags to the luggage segment exemplifies the evolving consumer shift towards sustainable fashion. Their focus on expanding exclusive outlets and enhancing their supply chain signals an exciting phase of growth, not just for the company but for the D2C sector in India. Despite increasing losses, their revenue doubling in FY23 shows strong potential, particularly as they eye a $50M valuation. It will be interesting to watch how they navigate challenges while maintaining their commitment to ethical sourcing. Vandana Tolani #SustainableFashion #D2C #FundingNews #Zouk #IndianStartups

PhonePe, the leading UPI-based digital payments platform, achieved remarkable growth in FY24. Supported by nearly $1 billion in funding from General Atlantic, Walmart, Tiger Global, and others, the company saw its revenue from operations surge by 73.8% to ₹5,064 crore. Total revenue reached ₹5,725 crore, up from ₹3,085 crore in FY23, thanks to a robust performance in payment services and additional interest income from its $195 million funding round. While employee benefits accounted for 46.45% of total expenses, PhonePe managed to reduce its net losses by 28.6% to ₹1,996 crore. Controlled costs and a 74% growth in scale contributed to this achievement. As of FY24, PhonePe has maintained its position as India’s most valuable privately-owned fintech firm, with a valuation of $12 billion and nearly 50% market share in UPI transactions by volume and value. In a significant move, PhonePe shifted its domicile from Singapore to India, paying over ₹8,000 crore in taxes for the reverse flip, following a trend of fintech firms localizing their operations. Vandana Tolani #PhonePe #FinTech #UPI #RevenueGrowth #Funding #CostManagement #FY24Results