D2C Startup The Whole Truth Bags $15 Mn To Expand Into New Categories - Related to indian, bags, truth, john, report
Crypto Platform Kraken Planning Re-Entry Into Indian Market: Report
Google also removed these crypto exchange apps from its Play Store in India in January 2024.
The Indian Finance Ministry's Financial Intelligence Unit (FIU) in December 2023 issued show cause notice to nine offshore cryptocurrency exchanges, including Kraken and Binance.
To restart its operations in India, Kraken will have to first apply for the licence and engage with the authorities.
US-based cryptocurrency platform Kraken is reportedly looking to relaunch its operations in India and has roped in Shiprocket cofounder Vishesh Khurana as an advisor to lead the country’s operations.
However, to restart its operations in India, Kraken will have to first apply for the licence and engage with the authorities, ET reported, citing findings close to the matter.
“We are looking to enter India officially, and will build a team there,” one of the insights told ET.
The Indian Finance Ministry’s Financial Intelligence Unit (FIU) in December 2023 issued show cause notice to nine offshore cryptocurrency exchanges, including Kraken and Binance. Later Google also removed these crypto exchange apps from its Play Store in India.
It is pertinent to note that these platforms were banned for non-compliance with the Prevention of Money Laundering Act (PMLA).
The offshore crypto platforms also filed petitions last year in order to restart operations in India.
It was also reported earlier that the crypto exchanges may be allowed to operate only after they agree to comply with PMLA provisions, including mandates related to registrations, KYC (know your customer) norms and reporting of suspicious transactions as well as payment of penalties.
FIU oversees trade in virtual digital assets (VDA) and ensures compliance with the Prevention of Money Laundering Act (PMLA) and the VDA taxation framework.
The development comes at a time when the enforcement directorate is also keeping a watch on money laundering frauds related to Bitcoin. The ED has attached assets worth more than INR 10 Cr, as part of a money laundering probe in connection with the ‘illegal’ Bitcoin investments fraud case.
A provisional attachment order was issued on February 17 (Monday) under the PMLA for properties worth INR [website] Cr, including commercial properties situated in prime business centres of Dubai, UAE. The assets were owned by late Amit Bhardwaj, the key accused of one of the world’s biggest crypto Ponzi schemes.
Last year, ED also attached immovable and movable properties worth INR [website] Cr belonging to bollywood actor Shilpa Shetty’s husband, Raj Kundra, in connection with the Bitcoin Ponzi scam.
PhonePe reported a consolidated net loss of INR 1,996 Cr in FY24 on an operating revenue of INR 5,064 Cr.
However, details about the IPO, like size, v......
D2C Startup The Whole Truth Bags $15 Mn To Expand Into New Categories
The Whole Truth offers healthy snacks such as protein bars, peanut butter, muesli, among others, to consumers via its website and ecommerce platforms.
The startup plans to use the fresh capital to invest in scaling up the brand’s in-house manufacturing capacity, hiring workforce, and introducing new categories.
The funding round was led by European investment firm Sofina with participation from existing investors Z47, Peak XV Partners, and [website].
D2C startup The Whole Truth has raised $15 Mn (around INR 129 Cr) in its Series C funding round led by European investment firm Sofina.
The round also saw participation from existing investors including Z47, Peak XV Partners, and [website].
The startup plans to use the fresh capital to invest in scaling up the brand’s in-house manufacturing capacity, hiring workforce, and introducing new categories.
Founded in 2019 by ex-Unilever marketing executive Shashank Mehta, The Whole Truth was earlier named ‘And Nothing Else’. It offers healthy snacks such as protein bars, peanut butter, muesli, among others, to consumers via its website and ecommerce platforms.
Commenting on the funding, Mehta introduced, “With this new fundraise…We’ll continue to innovate and enter more categories. We’ll continue to grow distribution and bring our existing products to more consumers.”.
The fundraise comes two years after the startup secured $15 Mn in its Series B funding round, led by Peak XV. Matrix Partners, [website], and angel investors, including Zerodha’s Nithin Kamath, Swiggy’s Sriharsha Majety, and Rebel Foods’ Jaydeep Burman, also participated in that round.
The startup asserts that since its last funding in January 2023, it has grown [website] and scaled its presence in the market across key categories.
On the financial front, its revenue from operations surged 82% to INR [website] Cr in FY24 from INR [website] Cr in the previous fiscal year. The startup also managed to cut its loss by [website] to INR [website] Cr from INR [website] Cr in FY23.
Last month, Inc42 reported that the startup was looking to raise $25 Mn at a valuation of INR 2,000 Cr (about $240 Mn). At the time, reports expressed that The Whole Truth is on track to post sales of INR 250 Cr in FY25.
The D2C brand competes against the likes of SuperYou, Yoga Bar, Wellbeing Nutrition, RiteBite, among others.
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John Abraham-Backed NOTO Bags Funding To Expand Offline Presence
Prior to this funding round, the startup raised INR 4 Cr in its pre-Series A round.
The company plans to use the capital to expand in Tier I & II cities, drive product innovation, expand offline presence to increase brand awareness, among others.
The funding round was led by Inflection Point Ventures, with participation from JITO Incubation and Innovation Foundation and LetsVenture.
Actor John Abraham-backed D2C ice cream brand NOTO has secured INR 15 Cr (about $[website] Mn) in a funding round led by Inflection Point Ventures.
The round also saw participation from JITO Incubation and Innovation Foundation and LetsVenture.
In a statement, the startup said it would use the capital to expand in Tier I & II cities, drive product innovation, expand offline presence to increase brand awareness, among others.
Founded by husband-wife duo Varun and Ashni Sheth in 2019, NOTO sells low calorie ice creams. The startup proposes that its ice creams have high protein and no/low sugar.
It sells its products via its own website, retail stores, and quick commerce platforms like Blinkit, Zepto, Swiggy Instamart. The startup indicates to have presence in Mumbai, Delhi, Bengaluru, Hyderabad, Chennai, and Pune. It plans to expand its presence in cities like Ahmedabad, Kolkata, and Lucknow.
Commenting on the funding, NOTO cofounder and CEO Varun stated, “This funding allows us to bring guilt-free desserts to more people across India, fueling innovation and expanding our market presence.”.
Prior to this funding round, the startup raised INR 4 Cr in its pre-Series A round. The startup counts Titan Capital, Rockstud Capital, WEH Ventures, Lead Angels, among its investors.
It competes with brands such as Go Zero, NIC, Get-A-Way and Minus 30.
With rising disposable incomes, the spending on food and beverages is on the rise in the country. Besides, the rise in healthy and conscious eating provides a big opportunity for brands like NOTO.
The country’s food and beverage market is expected to grow to $68 Bn by 2030, clocking a CAGR of 25% by 2030.
As a result, investors are bullish on startups operating in the segment. While Go Zero bagged $[website] Mn funding last year, Hocco saw its valuation touch the INR 600 Cr mark within a few months of its inception.
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Market Impact Analysis
Market Growth Trend
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|
| 12.0% | 14.4% | 15.2% | 16.8% | 17.8% | 18.3% | 18.5% |
Quarterly Growth Rate
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 |
|---|---|---|---|
| 16.8% | 17.5% | 18.2% | 18.5% |
Market Segments and Growth Drivers
| Segment | Market Share | Growth Rate |
|---|---|---|
| Digital Transformation | 31% | 22.5% |
| IoT Solutions | 24% | 19.8% |
| Blockchain | 13% | 24.9% |
| AR/VR Applications | 18% | 29.5% |
| Other Innovations | 14% | 15.7% |
Technology Maturity Curve
Different technologies within the ecosystem are at varying stages of maturity:
Competitive Landscape Analysis
| Company | Market Share |
|---|---|
| Amazon Web Services | 16.3% |
| Microsoft Azure | 14.7% |
| Google Cloud | 9.8% |
| IBM Digital | 8.5% |
| Salesforce | 7.9% |
Future Outlook and Predictions
The Into Bags Expand landscape is evolving rapidly, driven by technological advancements, changing threat vectors, and shifting business requirements. Based on current trends and expert analyses, we can anticipate several significant developments across different time horizons:
Year-by-Year Technology Evolution
Based on current trajectory and expert analyses, we can project the following development timeline:
Technology Maturity Curve
Different technologies within the ecosystem are at varying stages of maturity, influencing adoption timelines and investment priorities:
Innovation Trigger
- Generative AI for specialized domains
- Blockchain for supply chain verification
Peak of Inflated Expectations
- Digital twins for business processes
- Quantum-resistant cryptography
Trough of Disillusionment
- Consumer AR/VR applications
- General-purpose blockchain
Slope of Enlightenment
- AI-driven analytics
- Edge computing
Plateau of Productivity
- Cloud infrastructure
- Mobile applications
Technology Evolution Timeline
- Technology adoption accelerating across industries
- digital transformation initiatives becoming mainstream
- Significant transformation of business processes through advanced technologies
- new digital business models emerging
- Fundamental shifts in how technology integrates with business and society
- emergence of new technology paradigms
Expert Perspectives
Leading experts in the digital innovation sector provide diverse perspectives on how the landscape will evolve over the coming years:
"Technology transformation will continue to accelerate, creating both challenges and opportunities."
— Industry Expert
"Organizations must balance innovation with practical implementation to achieve meaningful results."
— Technology Analyst
"The most successful adopters will focus on business outcomes rather than technology for its own sake."
— Research Director
Areas of Expert Consensus
- Acceleration of Innovation: The pace of technological evolution will continue to increase
- Practical Integration: Focus will shift from proof-of-concept to operational deployment
- Human-Technology Partnership: Most effective implementations will optimize human-machine collaboration
- Regulatory Influence: Regulatory frameworks will increasingly shape technology development
Short-Term Outlook (1-2 Years)
In the immediate future, organizations will focus on implementing and optimizing currently available technologies to address pressing digital innovation challenges:
- Technology adoption accelerating across industries
- digital transformation initiatives becoming mainstream
These developments will be characterized by incremental improvements to existing frameworks rather than revolutionary changes, with emphasis on practical deployment and measurable outcomes.
Mid-Term Outlook (3-5 Years)
As technologies mature and organizations adapt, more substantial transformations will emerge in how security is approached and implemented:
- Significant transformation of business processes through advanced technologies
- new digital business models emerging
This period will see significant changes in security architecture and operational models, with increasing automation and integration between previously siloed security functions. Organizations will shift from reactive to proactive security postures.
Long-Term Outlook (5+ Years)
Looking further ahead, more fundamental shifts will reshape how cybersecurity is conceptualized and implemented across digital ecosystems:
- Fundamental shifts in how technology integrates with business and society
- emergence of new technology paradigms
These long-term developments will likely require significant technical breakthroughs, new regulatory frameworks, and evolution in how organizations approach security as a fundamental business function rather than a technical discipline.
Key Risk Factors and Uncertainties
Several critical factors could significantly impact the trajectory of digital innovation evolution:
Organizations should monitor these factors closely and develop contingency strategies to mitigate potential negative impacts on technology implementation timelines.
Alternative Future Scenarios
The evolution of technology can follow different paths depending on various factors including regulatory developments, investment trends, technological breakthroughs, and market adoption. We analyze three potential scenarios:
Optimistic Scenario
Rapid adoption of advanced technologies with significant business impact
Key Drivers: Supportive regulatory environment, significant research breakthroughs, strong market incentives, and rapid user adoption.
Probability: 25-30%
Base Case Scenario
Measured implementation with incremental improvements
Key Drivers: Balanced regulatory approach, steady technological progress, and selective implementation based on clear ROI.
Probability: 50-60%
Conservative Scenario
Technical and organizational barriers limiting effective adoption
Key Drivers: Restrictive regulations, technical limitations, implementation challenges, and risk-averse organizational cultures.
Probability: 15-20%
Scenario Comparison Matrix
| Factor | Optimistic | Base Case | Conservative |
|---|---|---|---|
| Implementation Timeline | Accelerated | Steady | Delayed |
| Market Adoption | Widespread | Selective | Limited |
| Technology Evolution | Rapid | Progressive | Incremental |
| Regulatory Environment | Supportive | Balanced | Restrictive |
| Business Impact | Transformative | Significant | Modest |
Transformational Impact
Technology becoming increasingly embedded in all aspects of business operations. This evolution will necessitate significant changes in organizational structures, talent development, and strategic planning processes.
The convergence of multiple technological trends—including artificial intelligence, quantum computing, and ubiquitous connectivity—will create both unprecedented security challenges and innovative defensive capabilities.
Implementation Challenges
Technical complexity and organizational readiness remain key challenges. Organizations will need to develop comprehensive change management strategies to successfully navigate these transitions.
Regulatory uncertainty, particularly around emerging technologies like AI in security applications, will require flexible security architectures that can adapt to evolving compliance requirements.
Key Innovations to Watch
Artificial intelligence, distributed systems, and automation technologies leading innovation. Organizations should monitor these developments closely to maintain competitive advantages and effective security postures.
Strategic investments in research partnerships, technology pilots, and talent development will position forward-thinking organizations to leverage these innovations early in their development cycle.
Technical Glossary
Key technical terms and definitions to help understand the technologies discussed in this article.
Understanding the following technical concepts is essential for grasping the full implications of the security threats and defensive measures discussed in this article. These definitions provide context for both technical and non-technical readers.
API beginner
How APIs enable communication between different software systemsplatform intermediate
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