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

Zomato has invested ₹500 crore (nearly $60 million) in Blinkit, its quick commerce subsidiary, bringing its total investment in the segment to ₹2,800 crore since acquiring the company. Blinkit’s board approved the issuance of 2,537 equity shares at an issue price of ₹19,70,181 each, raising the capital. This move comes two months after Zomato raised ₹8,500 crore through a Qualified Institutions Placement (QIP) to strengthen its financial position, enabling expansion and strategic initiatives, particularly in the quick commerce segment. This is Zomato's second capital infusion in Blinkit within seven months, following a ₹300 crore ($36 million) investment in June 2024. Blinkit, previously known as Grofers, was acquired by Zomato in an all-stock deal valued at ₹4,477 crore ($568 million). Zomato’s financial performance has been robust, with operating revenue for Q2 FY25 growing 68.5% quarter-on-quarter to ₹4,799 crore from ₹2,848 crore in Q2 FY24. Its net profit surged 4.8X to ₹176 crore during the same period. Blinkit also contributed significantly to these results, with its Q2 FY25 revenue from operations increasing by 129% year-on-year to ₹1,156 crore, compared to ₹504 crore in Q2 FY24. The segment’s growth was driven by higher order frequency and the addition of new stores, resulting in a sharp rise in gross order value (GOV). Zomato’s continued investments in Blinkit highlight its focus on capturing the growing quick commerce market while leveraging Blinkit’s operational improvements to boost overall performance. Vandana Tolani

Wonderchef Home Appliances Pvt Ltd. has demonstrated significant progress in its financial performance, achieving a 20% year-on-year growth in revenue, increasing from ₹315.5 crore in FY23 to ₹377.6 crore in FY24. The company also turned profitable, reporting a net profit of ₹1.5 crore in FY24, a remarkable improvement from a loss of ₹52 crore in the previous fiscal year. This growth was supported by strategic cost management, including a 25.44% reduction in advertising expenses, reflecting a shift toward cost-effective promotional methods. The company’s total income, including interest earnings, reached ₹381 crore in FY24. Despite an increase in procurement costs, which constitute 67% of total expenses, Wonderchef Home Appliances Pvt Ltd. managed to maintain a controlled overall expense growth of 16.7%. Other costs, such as employee benefits and transportation, saw moderate increases of 12.3% and 8.3%, respectively. On a unit economics level, the company spent ₹0.99 to earn every rupee of revenue, showcasing operational efficiency. With the backing of Sixth Sense Ventures and Amicus Capital, and founders Sanjeev and Alyona Kapoor holding a significant 19.57% stake, Wonderchef Home Appliances Pvt Ltd.’s funding history of $50 million places it in a strong position. The company’s innovative product offerings and omnichannel distribution strategies have carved a niche in the competitive kitchen appliance market. However, challenges remain, including evolving consumer preferences toward cast iron cookware over non-stick options and the broader shifts in market dynamics. Founder and CEO Ravi Saxena’s ambitious target of achieving ₹820 crore in revenue for FY25 indicates confidence in scaling operations. However, the question of sustainability looms, especially with founders nearing retirement age and the potential for acquisition as a strategic move in the face of funding uncertainties. Wonderchef Home Appliances Pvt Ltd.’s profitability, while modest, makes it an attractive prospect for suitors, particularly as the company doubles down on growth and expansion in a rapidly changing market. Vandana Tolani

"Warm wishes from Convanto Family on the joyous occasion of Pongal! May this harvest festival bring prosperity, happiness, and abundance to your life. May the sweetness of Pongal fill your home with love, laughter, and warmth. Happy Pongal! Convanto Family"

"Warmest wishes from Convanto Family on the joyous occasion of Lohri! May this festive season bring prosperity, happiness, and warmth to your homes and hearts. May the bonfire of Lohri burn away all the negativity and fill your life with love, light, and laughter. Convanto Family" Vandana Tolani

The Whole Truth Foods is reportedly in talks to raise $25 million in its Series C funding round at a valuation of INR 2,000 Cr (approximately $240 million). The round will see participation from existing investors like Peak XV Partners, Accel, Matrix Partners, and Sauce.VC. The company is also engaging with a global VC firm to expand its cap table. This fundraise comes nearly two years after The Whole Truth Foods secured $15 million in its Series B round, led by Peak XV (then Sequoia Capital India), with participation from Matrix Partners, Sauce.VC, and angel investors, including Nithin Kamath (Zerodha), Sriharsha Majety (Swiggy), and Jaydeep Burman (Rebel Foods). The startup, founded in 2019 by ex-Unilever marketing executive Shashank Mehta, began its journey under the name "And Nothing Else." It has since grown into a prominent brand offering healthy snacks like protein bars, peanut butter, and muesli through its website and e-commerce platforms. Financially, The Whole Truth Foods has demonstrated solid progress. Its operating revenue climbed by 82% to INR 65.3 Cr in FY24, up from INR 35.9 Cr in FY23. Simultaneously, it reduced its losses by 32.7%, from INR 35.4 Cr in FY23 to INR 23.8 Cr in FY24. Projections suggest the company will achieve sales worth INR 250 Cr in FY25, which translates to an 8X valuation multiple for this funding round. The brand competes against key players like Yoga Bar (Sprout Life Foods) , Wellbeing Nutrition, RiteBite, and SuperYou. Notably, SuperYou, cofounded by Ranveer Singh, has also reported similar FY24 operating revenue of INR 65.3 Cr while striving for profitability. With its focus on transparency and clean-label products, The Whole Truth Foods continues to carve a unique space for itself in the crowded healthy snacking market. As the D2C ecosystem evolves, the company’s trajectory highlights both the opportunities and challenges for brands aiming for sustainable growth. What do you think about this development? Will we see more D2C startups achieving such milestones, or is market consolidation inevitable? #D2C #StartupFunding #HealthySnacking #TheWholeTruthFoods Vandana Tolani

India's push for sustainable urban mobility gains another milestone as BluSmart Mobility raises ₹425 crore ($50 million) in its Series B round. This fundraise not only emphasizes the growing investor confidence in EV-focused startups but also reflects the increasing demand for sustainable ride-hailing solutions. Founded in 2019, BluSmart stands out with its scheduled, all-electric fleet model, avoiding the pitfalls of dynamic pricing and availability issues that traditional services often face. With 22 million rides, 8,500 EVs, and 5,800 charging stations, BluSmart is carving a niche in cities like Delhi, Bengaluru, and now Mumbai. What’s worth noting? -The company doubled its revenue from ₹160 crore in FY23 to ₹390 crore in FY24. -Expansion to Mumbai signals a strategic bet on high-demand urban markets. A valuation of ₹3,050 crore ($363 million) post-allotment demonstrates strong market faith. -While the growth is promising, the lack of audited financials raises questions about operational transparency. As BluSmart scales, maintaining financial discipline and ensuring sustained profitability will be key to its long-term success. What do you think about the future of EV ride-hailing in India? Will BluSmart's pure-play electric model set a precedent for others? #EV #Sustainability #Startups #Funding #BluSmart

FY24 was a significant year for Bakingo, the Gurugram-based online bakery brand founded by Himanshu Chawla, Shrey Sehgal, and Suman Patra. Bakingo recorded a 43% revenue growth, reaching ₹208.7 crore compared to ₹145.7 crore in FY23, driven entirely by the sale of its cakes and desserts, including signature offerings like Cheesecakes and Jar Cakes. However, scaling came at a cost as total expenses rose by 46% to ₹213.8 crore, resulting in a marginal increase in losses to ₹5.3 crore. Procurement costs accounted for 42.2% of the overall expenditure and grew by 43% to ₹90 crore. Employee benefits rose to ₹31.6 crore, while advertising expenses increased to ₹27.7 crore, and platform commission fees jumped to ₹26.2 crore. These rising costs outpaced revenue growth, leading to an expense-to-revenue ratio of ₹1.02. The company’s ROCE and EBITDA margin stood at -6.05% and -0.98%, respectively, with total current assets recorded at ₹96.5 crore. Bakingo raised ₹130 crore ($16 million) in its maiden funding round led by Faering Capital last year, valuing the company at ₹571 crore. Its enterprise value-to-revenue multiple stood at 2.7X. The company’s growth appears to result from optimizing operations, but challenges remain in building brand perception, enhancing quality, and scaling distribution channels in a competitive and discretionary category. What strategies do you think Bakingo should adopt to sustain its growth while improving profitability? Vandana Tolani

SNITCH, a D2C fashion brand founded in 2019, has experienced impressive growth in FY24. The brand saw its net profit rise 1.3X to ₹4.4 Cr, up from ₹3.1 Cr in FY23. Its operating revenue surged by 127.89%, reaching ₹243 Cr, compared to ₹106.6 Cr in the previous fiscal year. Initially launched as an offline retail brand, SNITCH pivoted to online sales in 2020 after the pandemic forced physical stores to shut. This shift proved successful, and today, Snitch offers a variety of men's apparel, including shirts, jackets, hoodies, co-ords, sweaters, and innerwear. The company also gained significant attention after appearing on Shark Tank India in 2023, securing an all-shark deal of ₹1.5 Cr from Aman Gupta, Namita Thapar, Anupam Mittal, Peyush Bansal, and Vineeta Singh. SNITCH raised INR 110 Cr ($13.19 Mn) in its Series A funding round, co-led by SWC Global and IvyCap Ventures. Dungarwal, the founder, attributes much of this success to product expansion and a sharp focus on online sales. The brand made considerable improvements to its supply chain, leveraging data-driven demand forecasting and AI-powered decision-making. Online sales now account for 70% of Snitch’s total sales, with a significant boost coming from pilot categories like shoes, accessories, and perfumes. SNITCH is also expanding offline, with 34 stores launched in the past eight months. The brand plans to open 10 more stores in January 2025 and aims to reach 100 stores by the end of FY25. This hybrid approach is expected to drive a 125% increase in revenue in FY25, with offline stores projected to account for 30% of total sales, while the remaining 70% will continue to come from digital channels. As SNITCH continues to grow, its ability to balance online and offline expansion while utilizing data and AI for strategic decisions positions it for continued success. Vandana Tolani

In this article, we zoom in on OYO's fascinating journey from its meteoric rise to a $10 billion valuation in 2019, through the turbulent years marked by failed IPO attempts, significant layoffs, and financial struggles, to its current position as a company on the path to recovery. Despite facing a series of setbacks, OYO has managed to stabilize its financials and even post its first-ever profit in 2024. We explore the key moments, strategic decisions, and funding rounds that have shaped OYO’s story. The role of promoter buying by founder Ritesh Agarwal, and the continued support from investors, paints a picture of a company with resilience and confidence in its future. As we delve deeper, we analyze what’s next for OYO, especially given the company’s decision to shelve its IPO plans for now. Vandana Tolani