Favcy 1st Cheque

Dear Reader, for years I have found my solace in chaos. Don’t hate me for this, but I am not a very organised person and my organization is in my mess. However, far and between, after I watch an episode of Marie Condo or The Home Edit, the organization bug bites me. The first thing I go to clean up, is my phone (probably because it's easier than organising a whole wardrobe 😓).

But every time I clean up my phone’s home screens and organise them neatly in folders, after a few months (or weeks 😔), I find them all back to square one. I blame it on the apps. There are so many. One for ordering food, the other for hailing cabs, one for ordering groceries and another to pay for them. Someone help me.

Look who heard my cries - none other than the Tatas and the Ambanis! I hear they are all set to build India’s first superapp. This one app is supposed to have all utilities built in. But who will it be - the Tatas or the Ambanis or both or someone else? My colleague, Pranavharan is decoding this space for you this week in our Favcy Review section.

What else do we have? In our Short Take section this week, we give you a glimpse of how the space-tech domain is growing in India. And in our Angel Bytes section, we debate - is it or is it not okay to invest in cash burning startups? Read on to find out.

I’ll sign off with some good news for you all to cheer on. One of our portfolio startups, Good Good Piggy, led by the phenomenal Purva Aggarwal, has been selected in the first round for the upcoming Shark Tank series. We are surely excited about this one.

Dear Reader, this week we witnessed the first ever listing by an Indian startup and a mighty successful one at that (38X oversubscription 😱).That’s no mean feat.

I am sure you all agree that to a large extent it has to do with the doggedness of their dynamic founder - Deepinder Goyal. 

As Sanjeev Bhikchandani (one of Zomato’s earliest investors) rightly puts it - it takes time to build empires. And it takes backers who back you with conviction.

On these lines, we bring to you our Favcy Review this week - it's an ode to founders everywhere. Aditya Kumar, founder, Urja Bolt, an early stage EV-tech startup, writes about the ups and downs of his journey so far. As an investor we are backing the jockeys more often than the horses. So here’s a founder’s viewpoint for you to have a point of reference.

P.S. Urja Bolt is a Favcy VB portfolio startup.

What else do we have?

Introducing a new section this week - Short Take. With the help of a few pictures, we bring to you a hot and short take on some of the biggest news from the week. Helmed by one of our youngest colleagues, Pranavharan, this week we cover the hot and happening Byju’s acquisition spree story for you. Yes, with Byju’s 'Epic' takeover this week (pun intended), we couldn’t keep our excitement!

In our Angel Bytes section this week, we talk about 5 common mistakes that you can avoid as an early stage startup investor. In our Insights section, we have Satveer Singh Thakral, CEO, Singapore Angel Network, talking about a very important point - where can investors meet the right founders? Ofcourse, 1stcheque.com is one such place. 😊 

Last week we brought to you a detailed sector watch for the piping hot social commerce space. And this week, as if on cue, we bring to you a brand new startup from our portfolio - Majig, which is a Creator Commerce Platform.

Hear the founders, Jiggy George and Jibi George (cumulative experience of over 40 years in the brand merchandising space), talk about their venture - Majig. 

Majig is a Creator Commerce Platform that enables manufacturers of physical products to lease top brands (influencers + creators) and create online resellers to drive exponential sales.

Dear Reader, have you ever bought an item from a social commerce platform? I am guessing your answer is no.

Now, have you ever bought an item that your friend bought (and recommended)? I am guessing the answer should be a 100% yes. We make decisions on recommendations of our friends and family all the time - from what to watch to who to marry 😱.

The second part is sadly true - the popular Netflix show, Indian Matchmaking has been nominated for the Emmy’s (say whaaaat??!!)

While that’s a hot topic for debate, what’s apparent is that buying decisions get influenced by the immediate peer group and that’s the basic idea behind social commerce platforms that are fast cropping up across the length and breadth of the Indian startup ecosystem. I write about the rise of these social commerce platforms in this week’s Review section - a complete sector watch decoding what the future holds for this sector and where is it headed.

What else do we have?

We talk about the importance of 'Founder-Market-Fit' during early stage startup evaluations in our Angel Bytes section and in our Insights section this week, we have Rishabh Malik, Managing Partner, Madison Capital, talking about emerging opportunities for social commerce in India.
​
Do share your feedback on this effort. You can mail us at insider@1stcheque.com

Dear Reader, I have a question for you - how often do you leave the house with just your phone and you are comfortable with it? Frankly, I have been going out without my wallet for a couple of years now. I wouldn’t buy from a shop if it doesn’t offer payment via UPI, its as simple as that. And looks like I am not alone.

​UPI has recorded its highest ever transaction volume and value in June’21 - 2.8 Bn transactions 😮

The fact that my mobile has become my wallet has made daily life simpler for sure. However, it has its flip side as well - I don’t see my money anymore. Money has become invisible. So, now when I don’t see my money while spending, I tend to spend more. 

Dear Reader, for the past year or so I am enamoured by the strong wave of Indian consumer (D2C) brands that have taken over the Indian market by storm.