Delhi-based Reverse Logistics Company Pvt Ltd (RLC), which owns and operates Greendust.com, an e-commerce platform for refurbished goods, is eyeing $250 million in revenues by the end of the current fiscal year (FY14-15). According to its founder and CEO Hitendra Chaturvedi, the company is clocking Rs 100 crore in revenues on a monthly basis, and has been profitable since November last year.
“We ship goods worth Rs 2.5 crore per day at an average order value of Rs 5,000. While 30-35 per cent of the revenues come from our online channel, the rest is from our franchise business,” Chaturvedi said, adding that about 30 per cent of the total purchases come via mobile.
The firm claims to have partnered with more than 40 brands for over lakh products, and is now looking to expand its product portfolio. “We are looking at categories such as apparels, shoes and medical equipment. In the medical devices segment, we will work with OEMs to pick their factory-rejected devices, refurbish and sell them to tier II and III hospitals,” mentioned Chaturvedi, an IIT Roorkee alumnus who also holds a MBA degree from Southern Methodist University in the US.
Greendust is also eyeing global expansion. Initially, it is looking at South Asia, Southeast Asia, the Middle East and Africa, and will later expand to other international markets like the US. The company is currently piloting a new programme in Delhi, whereby it will tie up with local retailers to pick used and second-hand products from users in exchange for cash and coupons.
Parabo Press is a breeze to use: It’s clean and easy to read, your options are straightforward, and there are no annoying upsells. Prints from its Risograph machine, which uses soy-based ink and is described by Parabo as having “a cult following since its invention in 1980s Japan.”
“We are creating solutions specifically for the Indian rental community. For Aibnb, we are creating a separate set of packages, more attuned towards travellers, which will allow the hosts to pick and choose from these packages and furnish their house,” Ajith Karimpana
The Make in India programme needs design, in order to succeed in its fundamental endeavour. Melorra has integrated design and manufacturing with processes, people working in manufacturing are involved in product design concepts as a result delivery times are almost half those of competitors.
Red Chillies Entertainment partnered with Furlenco for its forthcoming Shah Rukh Khan and Alia Bhatt starrer ‘Dear Zindagi’. Furlenco and Red Chillies have also launched a TVC and an exclusive ‘Dear Zindagi’ store for the movie buffs.
Sub-cultures drive the products that emerge out of tech startups. Sub-cultures push the envelope on thinking about how society might develop. The ones that interest investors are those with the potential to indicate where the world could go next.
It is a combination of 50% equity and 50% debt, making them one of the largest debt funded start-ups in India. While Furlenco plans to utilise the equity component to grow its business into more cities, the debt will be used to purchase inventory.
Droom has clocked a GMV of Rs 104 crore in a short span of 19 months. They have registered over Rs 1,200 crore in annualised GMV, with plans to achieve Rs 3,000 crore by March 2017. The achievement has come despite low marketing spends at 3.75 per cent of the entire GMV.