Chiratae Ventures, in collaboration with The Digital Fifth, has released a comprehensive report titled ‘Unlocking Indian Enterprise Fintech Market.’ As per the 2024 FinTech Sector report, Enterprise FinTechs are poised to expand

Unlocking Indian Enterprise FinTech Market Report 2023 showcases Chiratae Ventures’ focus and confidence in India’s FinTech sector and deep dives into the nuances of the massive opportunity that Enterprise FinTechs present. India’s rapidly evolving traditional Financial Services providers are undergoing complex and deep-rooted technology transformations as India prepares to become the third largest economy in the world, and Enterprise FinTechs will have a profound role to play in this journey.

The 9th edition of Chiratae Ventures Spotlight was held in Mumbai in October, and it saw ~40 portfolio companies, ~150 investors and ~550 one-on-one meetings.

ConsumerTech Report 2023, first in a 3-part series, combines research and primary surveys conducted with respondents nationwide. It delves into trends within the ConsumerTech industry and provides insights in gaming, e-commerce, fintech, entertainment, and healthcare sectors. It outlines the Success playbook for founders building in this space from the learnings of Chiratae’s own portfolio.​

Indian ConsumerTech Industry to reach USD 300 Bn by 2027, says Report by Chiratae Ventures, 1Lattice, and Google Dec 12, 2023  Digital public infrastructure and population scale solutions play a major role in unlocking India’s consumer potential. The key success factors for scaled impact in the ConsumerTech industry are product innovation, vertical integration, omnichannel strategies, and the globalisation of scaled products. Bengaluru, 12th December 2023: The Indian ConsumerTech industry is set to rise as the total addressable market will reach ~USD 300 Bn, by 2027, growing at a CAGR of ~25%. Chiratae Ventures, in collaboration with 1Lattice and powered by Google, has unveiled “Cracking the Code: Unveiling India’s Consumer Landscape,” the first instalment of a three-part Annual Report series. The report combines secondary research and primary surveys conducted with respondents nationwide. It delves into trends within the ConsumerTech industry and provides in-depth analyses of gaming, e-commerce, fintech, entertainment, and healthcare sectors. Digital public infrastructure and population scale unlocking India’s consumer potential The unlocking of India’s consumer potential is driven by digital public infrastructure and population-scale solutions. Over 500 million Indians now seek entertainment and gaming services on a daily basis, Over 1.2 B people in India need good healthcare, and ~1.1 Bn people have a bank account and seek to invest in financial services. ~880 Mn people in India aspire to spend on fashion and apparel, and ~220 Mn people in India aspire to spend on on-demand services. This has resulted in an increased focus on personalisation, a rise in experiential retal and a growing influence of social media. Supported by an increase in disposable income, and significant digital adoption they provided additional tailwinds to solve for the above needs. Emerging trends such as social commerce, immersive shopping experiences, and mobile gaming are reshaping the global consumer landscape, impacting regions including the US, Europe, APAC, and MENA. Not to be left behind, the Indian Consumertech sector is experiencing swift rise of over-the-top (OTT) services on the subscription side, an increasing involvement of women in gaming, commerce and social media, and a notable rise in green mobility solutions such as EV sales.   The current Total Addressable Market (TAM) of the ConsumerTech industry is valued at ~USD 100 Bn, with the dominant sectors being mobility (30% share of the market) which includes ride-hailing apps, automobile marketplace and online car rental market followed by entertainment (25%) which includes print, digital, and television media. By 2027, fashion is expected to overtake entertainment as the second leading sector with apparel and accessories, beauty and personal care, footwear, jewellery, and watches. Sudhir Sethi, Founder and Chairman of Chiratae Ventures, on the launch of the report, shared, “Chiratae projects the Indian consumer industry to be $300 B revenue by 2027. We have till date invested ~$450 Mn into the sector. Key winners backed by Chiratae include Flipkart, Myntra, Cult.fit, Firstcry, Lenskart, GlobalBees, Policybazaar, PlaySimple, Curefoods, Fibe, Rentomojo to name a few. We believe that ConsumerTech sector is both a horizontal and a vertical play with winners at the intersections of horizontal technology disruption and vertical domains such as Health, Finance, Education, Agriculture etc. We continue to invest in companies such as Agrostar, Healthifyme, Miko, Artium, and a new breed of consumer deeptech companies such as KBCols, Aether as well. With our learnings and experience in this sector, we are proud to release our ConsumerTech sector report, the first in a 3-part series that captures deep insights.” “Digital today is ubiquitous and its usefulness is increasing every day.  With a plethora of information, services, and options now available to people at their fingertips, consumers are looking for personalized digital experiences. These consumer expectations extend to Tier 2+ consumers who have embraced technology and have an even greater openness to experimentation with new brands and products, and the willingness to spend on personalization and premiumization.The rapid evolution of AI presents an incredible opportunity for businesses to engage with their consumers in newer, more meaningful ways that deliver effective purchase outcomes whilst also responding to their need for privacy.” said Roma Datta Chobey, Managing Director – Digital First Businesses, Google India Decoding the Indian Consumer  Growing digital adoption in India has led to increased smartphone usage, higher digital spending, and a rapidly scaling shift from offline to online.  India’s lower-income and Tier II and III cities are rapidly adopting digital technology and are aware of the various platforms/apps.  As per the survey findings, consumers, on average, dedicate over four hours daily to their smartphones. The fintech apps dominates usage, with 77% of respondents leveraging it, primarily due to robust security features and a user-friendly interface. Following closely, entertainment apps capture a significant share at 70%, with on-demand services being perceived as essential expenses in the daily lives of about 70% of consumers. Gaming, e-commerce, and healthtech are also gaining traction among Indian digital consumers. Online and professional gaming is on the rise in India, with an increasing number of active female gamers (~60%). The growth of the e-commerce sector is seen due to the shift from offline to online channels for apparel and groceries because of the discounts and offers available. Lastly, healthtech is growing at a CAGR of ~40%, with online pharmacy being the most used platform in metro and Tier I cities. Roma Dixit, Director, Financial Services, 1Lattice, sums up ConsumerTech industry, “This report delves into India’s ConsumerTech trends, emphasising five pillars: population scale, product innovation, digital infrastructure, vertical integration, and omnichannel presence. With a current market worth $100 billion and an expected surge to $300 billion by 2027 (CAGR 25%), India’s ConsumerTech isn’t a fleeting but a substantial force. This growth potential is underscored by the ambitions of Indian homegrown startups, driven by robust revenue growth and eyeing global expansion, fuelled by an ever-growing digital native user base.” About Chiratae Ventures: Chiratae Ventures is a 17-year-old Indian technology venture capital fund advisor, having advised funds that collectively (across six funds) have $1.18 Bn AUM, 130+ investments, 50 exits, 9 Unicorns, 3 IPOs and a track

Chiratae Ventures, a prominent venture capital firm from India, is pleased to announce the appointment of Mr. Ken Shibusawa from Japan to its esteemed Asia Advisory Board, reaffirming its dedication to the larger Asian market.

Chiratae Impact Report 2023 October 9, 2023 Mumbai : Chiratae Ventures focus on key developmental thematic areas are contributing to 12 of the 17 United Nations Sustainable Development Goals, helping to bridge the gap in India’s development targets. In its latest Impact Report, launched earlier this week by Kris Gopalakrishnan, Chairman, Axilor Ventures, and Co-founder of Infosys and Manish Choksi, Vice-Chairman, Asian Paints. Chiratae highlights the impact created by its portfolio companies and their contribution towards United Nations Sustainable Development Goals (UN SDGs). The report captures cumulative self-reported data of Fund III and IV portfolio companies (that reported data) since Chiratae first invested. It also captures key highlights for the financial year 2023 (April’22 – March ’23). Chiratae measures the impact created by its portfolio quarterly and periodically reports it to its investors and stakeholders. Chiratae’s impact strategy centres around six key developmental thematic areas: Under-served Geographies, Under-served Target Groups, Gender Equality, Climate Action, Employment and Employability, and Support for Nano-entrepreneurs & MSMEs. The third edition on the report highlights the accomplishments of its portfolio  companies in Fund III and Fund IV. Together, they have positively impacted approximately 92.7 million individuals in India and have provided crucial support to around 3.9 million farmers through innovative technology solutions with a notable focus on gender inclusivity, as 42% of beneficiaries are female.  The report also captures that in the healthcare sector, Chiratae’s portfolio companies have addressed the eyewear needs of around 23 million people and provided approximately 24 million free vision tests, promoting well-being and accessibility. Chiratae’s Fund IV has been proudly recognised as a “2X investment” under the “Fund” criteria by one of our Development Finance Institute (DFI) LP – set forth by the 2X Challenge (financing for women).    Additionally, its portfolio companies dedicated to advancing agricultural technology have made significant inroads, reaching 3.9 million farmers, with 2.1 million smallholders in India. Its portfolio is also actively promoting financial inclusion in India, facilitating approximately 1.4 million loans in FY23. Furthermore, their reach in inclusive finance extends to over 14.8 million people, with 23% residing in tier 2 and smaller towns in India.  On the report’s launch, Sudhir Sethi, Founder and Chairman, of Chiratae Ventures stated, “Our portfolio has strengthened the grasp on Tier 2 and smaller towns in India, thereby wiring innovations and technologies into the grassroots levels of our country. Noteworthy and impactful insights from our investments reveal that for every dollar Chiratae invested, more than two units/transactions were enabled. Furthermore, every $7 investment positively impacted a female customer or female-owned business, and every $4 investment influenced the life of more than one stakeholder customer, employee, business enterprise, supplier, or trainee.” In consonance with Chiratae’s dedication to responsible investing, both Funds III and IV are fully ESG-integrated. This comprehensive approach seamlessly incorporates environmental, social, and governance considerations throughout the investment cycle. By doing so, we can effectively identify, manage, report, and monitor risks and opportunities, thus safeguarding against potential threats.   Note: All the impact data in the disclosure has been self-reported by investees and is cumulative impact unless otherwise mentioned. About Chiratae Chiratae Ventures is a 17-year-old Indian technology venture capital fund advisor, having advised funds that collectively (across 6 funds) have $1.2 Bn AUM, 130+ investments, 50 exits, 8 Unicorns, 3 IPOs and, a track record of having returned capital to LPs in each of the last 12 years. The funds advised by Chiratae Ventures have investments across sectors such as Consumer-Tech, SaaS, Fintech, and Healthtech and have been early backers of companies such as Myntra, Flipkart, Lenskart, FirstCry, CureFit,PolicyBazaar, Bizongo, Uniphore, Pixis, and Fibe, amongst many others. www.chiratae.com. L- R: Manish Choksi, Aarti Kalra Monga, Pavan B K, and Kris Gopalakrishnan

In today’s rapidly evolving technological landscape, artificial intelligence (AI) and generative models have become the cornerstone of innovation. Over the past few months, GenAI has garnered significant attention, making this an opportune moment to delve into it in depth.

As the CTO of Chiratae Ventures, a fund deeply rooted in supporting startups that build for population scale, we wanted to have a larger discussion around GenAI and the potential of this technology, its scale and the future we envision it to impact.

Chiratae adds Puneet Pushkarna to SEA Regional Advisory Board August 25, 2023 Bangalore: Chiratae Ventures, a leading venture capital firm, announces the appointment of Mr. Puneet Pushkarna to its esteemed Regional Advisory Board, reinforcing its commitment to the Southeast Asia (SEA) market. The announcement comes soon after Chiratae’s significant milestone -its active portfolio companies surpass $650 million in revenue. Companies focusing on SEA or headquartered now contribute about 45% of the total international revenue across the company’s diverse portfolio. Companies such as Active.ai, Kristala.ai, and Lenskart have driven growth in the SEA market, with Lenskart’s strategic acquisition of Japan’s Own Days last year as a recent highlight. Given the growing significance of SEA as an investor base and a burgeoning market, Chiratae Ventures has been active in the region, particularly in Singapore and Japan. The appointment of Puneet Pushkarna to the Regional Advisory Board reinforces Chiratae’s dedication to its growth and success in SEA. Puneet will provide strategic guidance to Chiratae’s international operations in this role. Sudhir Sethi, Founder and Chairman of Chiratae Ventures, shared, “With a strong foothold in the SEA market and our portfolio companies, either focusing on the region or being headquartered there, contributing over 45% of the total revenue, we are thrilled to welcome Puneet Pushkarna to our Regional Advisory Board. Puneet’s addition further bolsters our already formidable Advisory Board, whose collective efforts have significantly established Chiratae as one of India’s premier venture capital funds. His exceptional expertise and diverse background will undoubtedly guide our ventures to even greater heights within the Asian market while fostering stronger connections with our esteemed investors.” Puneet Pushkarna brings a wealth of experience, currently serving as a General Partner at Solmark, a prominent private equity fund based in Singapore. Throughout his career, Puneet has excelled in nurturing and scaling companies in the competitive global landscape. He previously held the position of President at Headstrong, driving transformative initiatives in the Capital Markets domain through cutting-edge digital technology services. Additionally, Puneet co-founded TechSpan, backed by the prestigious institution Goldman Sachs, where he successfully led business solutions consulting and design thinking ventures, earning recognition as one of the fastest-growing companies in Silicon Valley. Beyond his business acumen, Puneet is deeply involved in various Boards and Advisory Boards, including his role as Chairman of Core Committee, RIE2025, National Research Foundation, Singapore, Chairman Emeritus of TiE Singapore, and as a Board member of IIM Nagpur and Industry Advisory Board of SP Jain School of Management. Additionally, Puneet serves as a Catalyst at SMART (Singapore MIT Alliance for Research & Technology) and actively engages in philanthropic efforts, supporting initiatives such as the Indian Foundation for the Arts (IFA), the Singapore Indian Fine Arts Society (SIFAS), and the South Asian Heart Society. Puneet Pushkarna shared his excitement for the new role, adding, “I am honoured to join Chiratae Ventures and contribute to the growth of the platform they have built over close to two decades and its dynamic portfolio in Asia region. There are strong benefits for the Asian block to partner, invest and grow exponentially by understanding each other’s strengths and hope to bridge the gap. The Indian model of solving for population-scale problems using technology-led business models has relevance for the larger region and hoping to help Chiratae and its portfolio expand its regional footprint” Anoop Menon, Principal-Investments who also leads Investor Relations in the East Asian region, says, “With the changing geo-political environment and India’s blistering economic growth, India has become a strong contender for increased investments and business partnership within Asia. Along with this, there is a strong need to contextualise the India narrative by a leader who has seen both sides closely, and Puneet helps us do that. Having him on our Advisory Board provides a valuable sounding board for our team and founders as we navigate the markets in Singapore, Japan, and other regions of Asia Pacific.” Chiratae Ventures, recently announced the final close of its first Growth fund at $122 M, oversubscribed by 34% and is in the market for its next flagship Venture capital fund. It will continue looking to cement its presence in SEA and the larger Asian region, and Puneet will help strengthen the firm’s position as a leader in the Venture capital landscape. About Chiratae Ventures:Chiratae Ventures is a 16-year-old Indian technology venture capital fund advisor, having advised funds that collectively (across six funds) have $1.1 Bn AUM, 130+ investments, 48 exits, 8 Unicorns, 3 IPOs and a track record of having returned capital to LPs in each of the last 12 years. The funds advised by Chiratae Ventures have investments across sectors such as Consumer-Tech, SaaS, Fintech, and Healthtech and have been early backers of companies such as Bizongo, Fibe, FirstCry, Flipkart, Lenskart, Myntra, Pixis, PolicyBazaar and Uniphore, amongst many others.