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Engagespot Becomes First Kerala Startup in Techstars NYC Accelerator!
Published
1 month agoon
Engagespot, a startup based in Thiruvananthapuram that specializes in user notification solutions, has made history by becoming the first startup from Kerala to join the prestigious Techstars New York City Accelerator. Selected from a competitive pool of only 12 startups worldwide, Engagespot will participate in a 15-week program designed to enhance its capabilities and solidify its position as a leader in the developer tools space.
A New Chapter for Kerala’s Tech Scene
Founded by Shiv Shankar, Anand Sukumaran, and Anandu S, Engagespot’s acceptance into Techstars is a significant milestone for Kerala’s burgeoning tech ecosystem. Techstars is renowned for its accelerator network, having supported over 4,000 startups, including 150 unicorns, since its inception. Engagespot’s entry into this elite program not only highlights its innovative approach but also raises the profile of local startups on a global stage.
Revolutionizing Notifications for Modern Businesses
Engagespot has developed an innovative AI-powered notification system aimed at optimizing user communications across various channels, including SMS, email, push notifications, and Slack. Many companies struggle to reach users at the right moment and through the appropriate platform, often resulting in missed opportunities. Engagespot’s solution intelligently schedules and routes notifications to maximize engagement while reducing messaging costs by up to 50%. This approach has garnered interest from over 2,000 companies, including notable unicorns like Veho, Sameday, and Nivoda.
Strong Market Momentum
Despite being only 11 months old, Engagespot has quickly established itself as a promising startup with solid market traction. The company has secured multiple high-value contracts, generating over $100,000 annually from clients—an impressive early impact in a competitive market.
Shiv Shankar, CEO and Co-Founder, described their transformative experience during the accelerator: “In 15 weeks, we increased our revenue fivefold, achieved operational profitability, and grew our monthly rate by 25%. The guidance and network access from industry leaders—including founders of Digital Ocean, Squarespace, and Veho—have been invaluable in shaping our path forward.”
Anand Sukumaran, CTO and Co-Founder, added: “Techstars NYC enabled us to test and improve our product in real-time with input from top engineering minds. Beyond the program, the extensive alumni network will continue to support our progress.”
Growth Plans and New Investment
During its time at Techstars, Engagespot successfully raised $250,000 in funding from Techstars and angel investors like Veho CTO Fred Cook and Great Valley Investments. With plans to expand further into North America, the company’s founders will maintain operations in New York while keeping their engineering headquarters in Trivandrum. Additionally, Engagespot plans to hire 20 more engineers over the next year to fuel its growth.
A New Era for Kerala in Global Tech
Engagespot’s success story serves as a boost for Kerala’s emerging tech scene, underscoring the region’s potential to produce globally competitive startups. As Engagespot scales its operations and enhances its offerings in the notification solutions market, it is poised to further establish Kerala as a significant player in the international tech landscape.
Conclusion
The journey of Engagespot highlights not only the innovative spirit of Kerala’s tech entrepreneurs but also the growing recognition of India as a hub for technological advancement. As the company continues to leverage its participation in Techstars NYC to refine its product and expand its market reach, it sets an inspiring precedent for other startups in the region looking to make their mark on the global stage.
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Latest News
Mahanagar Gas Partners with Nawgati to Boost CNG Adoption!
Published
1 day agoon
December 12, 2024Mahanagar Gas Limited (MGL) has joined forces with Nawgati, a fuel aggregator startup, to implement a fleet program aimed at accelerating the adoption of CNG (Compressed Natural Gas) vehicles in Mumbai, Thane, and Raigad. This partnership is part of MGL’s broader strategy to promote cleaner fuel alternatives and enhance the sustainability of urban transportation.
Key Features of the Partnership
Incentivized Fleet Program
MGL’s CNG Mahotsav 2.0 offers significant incentives to fleet operators who switch to CNG. This program is designed to encourage the transition from traditional fossil fuels to cleaner CNG options, which can lead to reduced operational costs for fleet operators due to lower fuel prices and government incentives.
Simplified Refueling
Nawgati’s platform streamlines the refueling process for fleet operators, providing a user-friendly experience. By integrating technology into the refueling process, Nawgati aims to make it easier for operators to manage their fuel needs efficiently, thereby enhancing overall productivity.
Dual Payment Options
Fleet operators can choose between physical and digital payment methods, including the MGL Fuel Card and the MGL Connect/Nawgati Fuelling app. This flexibility in payment options caters to various user preferences and helps facilitate smoother transactions at CNG stations.
Reduced Waiting Times
The partnership with Nawgati aims to reduce waiting times at CNG stations, particularly for BEST bus depots. By optimizing the refueling process and improving station management, MGL and Nawgati seek to enhance the overall experience for fleet operators and ensure that vehicles spend less time off the road.
A Step Towards a Greener Future
By collaborating with Nawgati, MGL is taking a significant step towards promoting the adoption of CNG as a cleaner and more sustainable fuel. The partnership aims to reduce air pollution and improve overall air quality in the region, aligning with government initiatives focused on environmental sustainability and public health.
Environmental Benefits
CNG is recognized as a cleaner alternative to diesel and petrol, producing lower emission of harmful pollutants such as nitrogen oxides (NOx) and particulate matter. The increased adoption of CNG vehicles can contribute significantly to reducing urban air pollution levels, which is critical for cities like Mumbai that face severe air quality challenges.
Commitment to Accessibility
Both companies are committed to working together to make CNG a more accessible and convenient option for fleet operators. This partnership not only supports MGL’s goal of expanding its customer base but also aligns with broader national objectives of promoting cleaner fuels in transportation.
Future Initiatives
As part of their collaboration, MGL and Nawgati may explore additional initiatives such as educational campaigns for fleet operators on the benefits of CNG, further technological enhancements in refueling infrastructure, and potential expansions into other regions where CNG adoption can be beneficial.
Conclusion
Mahanagar Gas Limited and Nawgati’s partnership promotes CNG adoption in urban transport through technology and fleet incentives. This initiative addresses environmental concerns and champions cleaner energy, serving as a model for sustainable transportation solutions in India.
Latest News
Nazara and Lysto Partner to Launch Blockchain-Based Marketing Platform!
Published
1 day agoon
December 12, 2024Nazara Technologies and Lysto have joined forces to introduce “The Growth Protocol,” a blockchain-based platform designed to revolutionize digital marketing. This innovative platform aims to provide a more transparent, equitable, and secure digital marketing ecosystem, addressing many challenges faced in traditional marketing practices.
Key Features of The Growth Protocol
Decentralized Marketing
The Growth Protocol leverages blockchain technology to enable decentralized marketing applications. This decentralization empowers users and developers to create applications that operate independently of centralized control, fostering a more inclusive environment for all participants.
Transparent Transactions
By utilizing blockchain, the platform ensures secure and transparent transactions, enhancing trust and accountability among users. This transparency is crucial for building confidence in digital marketing practices, which have often been criticized for their lack of visibility.
User Control
Users will have greater control over their digital identities, enabling them to participate more equitably in the Web3 ecosystem. This feature allows users to manage their data and interactions, reducing the risks associated with data privacy and security breaches.
Initial Launch and Future Plans
The Growth Protocol was officially unveiled at India Blockchain Week, where a private testnet was launched. The initial focus is on developing decentralized applications (dApps) specifically for game marketing, but the platform has broader ambitions to support various digital marketing use cases across different industries.
Roadmap for Development
As part of its future plans, Nazara and Lysto aim to collaborate with developers to create a suite of growth applications on the blockchain. These applications will cater to diverse marketing needs, from loyalty programs to targeted advertising campaigns.
Industry Impact
This collaboration between Nazara and Lysto has the potential to significantly impact the digital marketing industry. By harnessing the power of blockchain technology, The Growth Protocol aims to address longstanding challenges in traditional marketing, such as fraud, lack of transparency, and inefficient data management.
Addressing Marketing Challenges
The integration of blockchain can help mitigate issues like ad fraud by providing verifiable data on ad performance and user engagement. Moreover, it can facilitate direct interactions between brands and consumers, eliminating intermediaries that often complicate transactions.
The Future of Digital Marketing
As the Web3 ecosystem continues to evolve, initiatives like The Growth Protocol are paving the way for a more decentralized and user-centric future. By prioritizing transparency and user empowerment, this platform is set to redefine how businesses approach digital marketing strategies.
Growing Demand for Blockchain Solutions
With increasing interest in blockchain technology across various sectors, The Growth Protocol positions itself as a timely solution that meets the demand for innovative marketing solutions. As businesses look for ways to enhance their digital presence while ensuring data security and user trust, blockchain-based platforms are likely to gain traction.
Conclusion
The partnership between Nazara Technologies and Lysto to launch The Growth Protocol represents a significant advancement in the digital marketing landscape. By integrating blockchain technology into marketing strategies, this initiative not only enhances transparency and user control but also sets a new standard for how businesses engage with their audiences.
As more companies recognize the benefits of blockchain in addressing traditional marketing challenges, we can expect further innovations that will shape the future of digital advertising and consumer interactions. The Growth Protocol stands at the forefront of this transformation, promising a more equitable and efficient marketing ecosystem for all stakeholders involved.
Latest News
Swiggy Instamart Aims to Boost Sales per Order!
Published
1 day agoon
December 12, 2024Swiggy’s quick-commerce service, Instamart, is actively working to increase the average amount customers spend per order. While the service has seen a rapid growth, its average order value (AOV) of ₹499 is lower than some competitors, prompting the company to implement several strategies to enhance profitability.
Strategies to Boost Sales per Order
More Products
Instamart is expanding its product range by adding a wider variety of items, including non-food products. This diversification aims to encourage customers to purchase more items per order, thereby increasing the overall AOV.
Bigger Warehouses
To support this expansion, Swiggy is investing in larger warehouses that can stock a more extensive inventory. By increasing storage capacity, Instamart can offer a broader selection of products, making it more convenient for customers to find everything they need in one place.
Targeted Marketing
Instamart is employing targeted marketing strategies to attract customers who are likely to spend more. By analyzing customer data and purchasing behavior, Swiggy can tailor promotions and advertisements to encourage higher spending per transaction.
Why It Matters
Increasing the average order value is crucial for Instamart’s profitability. By encouraging customers to spend more per order, the company can reduce its costs and improve its bottom line. A higher AOV can lead to better margins and help offset operational expenses associated with quick delivery services.
Competitive Landscape
However, achieving this goal won’t be easy. The quick-commerce market is highly competitive, with other companies like Blinkit, Zepto, and BigBasket also vying for customers. Instamart will need to continue innovating and finding new ways to attract and retain customers amidst this fierce competition.
Financial Performance and Market Position
In recent financial reports, Swiggy noted that Instamart generated ₹3,221.4 crore in FY23, reflecting a 39.7% increase from the previous fiscal year. The average order value has risen by 20% to around ₹460, indicating that efforts to enhance customer retention and basket sizes are beginning to yield results.
Delivery Fee Adjustments
As part of its strategy to boost profitability, Swiggy may also consider increasing delivery fees for Instamart orders. According to Chief Financial Officer Rahul Bothra, the company plans to gradually raise these charges while ensuring that they remain competitive compared to other players in the market.
Conclusion
Swiggy Instamart is focusing on increasing sales per order through product diversification and improved warehousing. This strategic approach aims to enhance profitability and strengthen its position in the competitive quick-commerce market. By understanding and catering to evolving consumer preferences, Instamart is well-positioned to drive sustainable growth in the future.
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