Harsh Mariwala

Entrepreneurial spirit is not inherited, it is nurtured through exposure, responsibility, and hands-on experience. If the next generation seems to favour wealth preservation over building, the real question is—are we equipping them with the right mindset? My thoughts on shaping future business leaders, in conversation with Dr. Tatwamasi Dixit on The Economic Times. Read the full article - https://lnkd.in/dtvdbNSK #india #entrepreneurship #business #future

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D2C ayurveda brand Kapiva has launched a ₹50 crore innovation fund to accelerate research, clinical validation, and product development in Ayurveda. The fund is now open for applications and will support research institutions, PhD scholars, hospitals, laboratories, and early-stage startups working in the ayurveda and wellness space. Kapiva said the initiative will focus on clinically tested solutions for real health problems, while also encouraging the use of AI to modernise ayurvedic research and formulation. Under the programme, Kapiva plans to invest around ₹50 lakh in early-stage research projects, while late-stage projects may receive ₹4–6 crore each. Along with capital, selected teams will gain access to Kapiva’s in-house ayurveda experts and expanded R&D facilities in Bengaluru. The company noted that many researchers and startups have strong ayurvedic ideas but lack funding, infrastructure, and clinical support to scale them into credible products. Kapiva aims to bridge that gap through long-term partnerships rather than one-off grants. Team Kapiva✅ Ameve Sharma | Anuj Sharma | Shantanu . | Sunil Jaiswal | Govindarajan Raghavan | Aniket Patil | Viveka Raina | Romil L. | #Kapiva #InnovationFund #Ayurveda #Research #Funding #StartupUpdates #Startupro

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𝗧𝗵𝗲 𝗪𝗼𝗺𝗮𝗻 𝗪𝗵𝗼 𝗦𝗽𝗼𝗸𝗲 𝘁𝗼 𝟯,𝟬𝟬𝟬+ 𝗪𝗼𝗺𝗲𝗻 𝗮𝗻𝗱 𝗧𝘂𝗿𝗻𝗲𝗱 𝗧𝗵𝗲𝗶𝗿 𝗦𝗸𝗶𝗻 𝗦𝘁𝗿𝘂𝗴𝗴𝗹𝗲𝘀 𝗜𝗻𝘁𝗼 𝗮 ₹𝟯𝟬𝟬 𝗖𝗿 𝗦𝗸𝗶𝗻𝗰𝗮𝗿𝗲 𝗥𝗲𝘃𝗼𝗹𝘂𝘁𝗶𝗼𝗻! Romita Mazumdar's journey demolishes every stereotype about privileged startup founders and overnight success. The investment banker transformed Foxtale from pandemic-era idea into India's fastest-growing D2C skincare empire, proving customer obsession creates unbreakable market dominance. From investment banking towers, Mazumdar engineered complete industry disruption. 𝗧𝗵𝗲 ₹𝟱𝟳.𝟰 𝗠𝗶𝗹𝗹𝗶𝗼𝗻 𝗥𝗲𝘃𝗲𝗹𝗮𝘁𝗶𝗼𝗻 2020 became Mazumdar's awakening year. When pandemic locked everyone indoors, she separated herself from dreamers and positioned among doers. Speaking to 3,000+ women and analyzing 100+ brands, Romita Mazumdar conducted the most extensive skincare research in Indian startup history. 𝗧𝗵𝗲 𝗦𝗰𝗶𝗲𝗻𝗰𝗲-𝗙𝗶𝗿𝘀𝘁 𝗠𝗮𝘀𝘁𝗲𝗿𝘀𝘁𝗿𝗼𝗸𝗲 Mazumdar identified the fundamental flaw in India's skincare ecosystem – gap between global formulations and Indian skin needs. By making science-backed skincare accessible and affordable, she created a category-defining value proposition that resonated with millions. 𝗧𝗵𝗲 𝗛𝘆𝗽𝗲𝗿𝘀𝗰𝗮𝗹𝗲 𝗘𝘅𝗲𝗰𝘂𝘁𝗶𝗼𝗻 Research to revenue dominance took just three years. Founded December 2021, Foxtale's Rs 83 crore revenue in FY24 represents 6X growth. The brand reports 150% growth in FY25, positioned to cross ₹300 crore. $57.4M funding across 6 rounds, culminating in $30 Mn Series C led by KOSÉ Corporation January 2025, validates Mazumdar's vision. Today's footprint – 5 lakh+ customers with 50% repeat rate – represents methodical expansion driven by efficacy. 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗟𝗲𝘀𝘀𝗼𝗻𝘀 𝗳𝗿𝗼𝗺 𝘁𝗵𝗲 𝗦𝗸𝗶𝗻𝗰𝗮𝗿𝗲 𝗤𝘂𝗲𝗲𝗻 𝟭. 𝗖𝘂𝘀𝘁𝗼𝗺𝗲𝗿 𝗮𝘀 𝗣𝗿𝗼𝗱𝘂𝗰𝘁: Speaking to 3,000+ women wasn't research – it was Mazumdar's MBA in genuine pain points, teaching her Indian consumers demand efficacy and instant gratification. 𝟮. 𝗦𝗰𝗶𝗲𝗻𝗰𝗲 𝗮𝘀 𝗖𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝘃𝗲 𝗔𝗱𝘃𝗮𝗻𝘁𝗮𝗴𝗲: Efficacy-first formulations demonstrated sustainable D2C success requires substance over social media, creating unshakeable foundation for premium pricing. 𝟯. 𝗧𝗿𝘂𝘀𝘁 𝗮𝘀 𝗖𝘂𝗿𝗿𝗲𝗻𝗰𝘆: In India's relationship-driven beauty ecosystem, trust isn't nice-to-have - it's the only sustainable competitive advantage. 𝟰. 𝗦𝗰𝗮𝗹𝗲 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝘆: 50% repeat rates with 5 lakh+ customers revealed sustainable D2C growth requires product excellence, not acquisition excellence. Today, Mazumdar's empire proves investment banking rigor coupled with entrepreneurial execution creates extraordinary wealth! #skincareempire #business #businessempire #wealth

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What happens when Law, Dharma, and Ecology meet? Most environmental debates today sit at the intersection of law and science. Regulations, impact assessments, targets, treaties are necessary, but incomplete. India offers a third pillar that is often missing from global conversations: Dharma. For centuries, communities like the Bishnois treated environmental protection not as compliance, but as sacred duty. In the past, the Bishnois took environmental grievances to kings, who issued tamrapatra banning hunting or tree-felling. Today, that same spirit of advocacy operates within constitutional courts, legislatures, and civic movements. When Dharma provides the moral compass, and Law provides institutional force, conservation becomes sustainable, because it is believed in and lived by. Perhaps the future of environmental governance does not lie in choosing between tradition and modernity, but in integrating both. The question is no longer whether India has an environmental ethic. It is whether we are ready to reclaim our heritage. 🌱 Bishnois and the Blackbuck : Can Dharma save the Environment, is at the intersection of Law, Dharma, and Ecology. Available on Amazon ⏩ https://lnkd.in/gJadDS54

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Some quarters are about scaling peaks. Others are about steady climbs that build endurance. Q4 was the latter. A phase of thoughtful recalibration, disciplined execution, and deep brand-building. I’m proud to share that Honasa has closed this quarter with double-digit growth of +13.3% YoY, reaching ₹534 Cr in revenue. We’ve paired that growth with strong operational discipline with ₹25 Cr PAT, 5.1% EBITDA, and a gross profit of 70.7%. But beyond numbers, this quarter reflects resilience, adaptability, and quiet execution. Q4FY25 was about category power plays  • Mamaearth has broken into the Top 5 in face wash market share (NielsenIQ), with retail presence now across 2.36 lakh outlets, growing 26% YoY. Offline momentum stayed strong with 1 lakh+ unique outlets billed and modern trade offtake up 20%+. • The Derma Co. crossed ₹100 Cr ARR in offline channels, marking a solid scale milestone, while younger brands clocked 30%+ growth in FY25 owing to sharp distribution and portfolio plays. • Our innovation engine stayed in top gear, expanding focus categories and entering prestige skincare with cutting-edge launches like The Derma Co.’s Vitamin C Microneedle Kit and Dr. Sheth's ~ For Indian Skin’s PDRN & B’tox Serum. This journey reflects our dedication to excellence and disciplined execution. As architects of India's premier House of Brands, our blueprint remains clear: disruptive innovation, expanded retail presence, and consumer-centricity. The sprint phases will come. But it’s these steady climbs that strengthen the foundation and make the next peak sustainable.

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Scaling Ambitions - The Art of Rising Big and Raising Right We were privileged to host an inspiring line-up of our portfolio founders. Here are some key takeaways that truly resonated: Abhishek Negi, Co-Founder and CEO, Eggoz Nutrition, highlighted the evolution of investor conversations, which shifted from building initial conviction through action and educating on a "low involvement category" to demonstrating predictability in revenues and unit economics for scaling. He emphasized that governance is not just compliance but a core cultural pillar built on transparency, humility, and honesty, essential for building a generational company, especially as stakes rise in the food sector. Chirag Jain, CEO, Get My Parking shared the importance of strategic capital timing. He advised monitoring leading indicators like NRR and LTV:CAC to strategically decide between bridge rounds and larger institutional funding, always aiming for higher predictability and lower dilution. He also reinforced the critical role of transparency and alignment among all stakeholders—employees, customers, suppliers, and the board—to sustain long-term bets and build defensible businesses with strong unit economics. Gaurav Singh Kushwaha, Chairman, MD, and CEO, BlueStone articulated the distinct mindsets for private vs. public capital. He explained that private capital is for experimentation and discovery, where a company can take make-or-break risks. In contrast, public markets demand predictability and consistency in the core business, making stock a liquid currency. As a public company, BlueStone maintains agility by stabilizing core operations with robust processes while dedicating small, experimental pods to explore "next big moonshot" ideas. Sneh Vaswani, Co-Founder and CEO, Miko underscored the importance of a diverse investor cap table, noting that angel, institutional, family office, and impact funds each bring unique value-adds at different stages of a company's journey. He left us with a powerful analogy for navigating the fundraising journey: "Be like a cockroach. Sprint when the window opens, and have strong resilience if it shuts, and always be ready to sprint again." Thank you to our incredible founders for their candidness and profound wisdom. Their journeys truly exemplify "the art of rising big and raising right." Watch the complete panel here: https://lnkd.in/gh4TiXWA Vikram Gupta | Ashish Wadhwani | Anju Gupta | Vishal Gauri | Sonia Sharma Gupta | Aashish Vanigota #IvyCapDay2025 #BeyondTheFuture #ScalingAmbitions #StartupFunding #VentureCapital #Entrepreneurship #FounderStories #IvyCapVentures

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In this episode, the vital role of the Total Market Approach (TMA) in solving complex global challenges is discussed. By bridging the gap between public and private sectors, Ishita Chattopadhyay highlights how social entrepreneurs can build more resilient, scalable systems for impact. The conversation dives deep into the power of community engagement- moving beyond temporary solutions to create lasting empowerment in areas like HIV awareness and health equity. #IshitaPodcast #AshwinBhadri #SocialImpact #TotalMarketApproach

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What do Fevicol, Royale, Dabur Honey, Eveready, Bajaj, Dr. Fixit, and Apex all have in common? They are Indian entrepreneur-led brands that have held dominant market share for decades. No government protection. No regulatory barriers. No global giant has been able to push them out. The secret? After three decades of working with and learning from some of these organisations, I can say this with confidence: they operate on a different code. It is not just about size. It is about mindset, decisions, and leadership DNA. 𝗜𝘁 𝗶𝘀 𝘁𝗵𝗲 𝗜𝗻𝗱𝗶𝗮𝗻 𝗰𝗼𝗱𝗲 𝗯𝗼𝗿𝗻 𝗼𝘂𝘁 𝗼𝗳 𝗰𝗿𝗼𝘄𝗱𝗲𝗱 𝗺𝗮𝗿𝗸𝗲𝘁𝘀, 𝗱𝗲𝗺𝗮𝗻𝗱𝗶𝗻𝗴 𝗰𝗼𝗻𝘀𝘂𝗺𝗲𝗿𝘀, 𝗮𝗻𝗱 𝗮 𝗿𝗲𝗹𝗲𝗻𝘁𝗹𝗲𝘀𝘀 𝗱𝗿𝗶𝘃𝗲 𝘁𝗼 𝘄𝗶𝗻 𝗮𝗴𝗮𝗶𝗻𝘀𝘁 𝗮𝗹𝗹 𝗼𝗱𝗱𝘀. Here are eight patterns that consistently set them apart. I call it the 𝗙𝗥𝗢𝗡𝗧𝗜𝗘𝗥 𝗖𝗼𝗱𝗲, because these organisations have always stayed at the frontier of their markets: → 𝗙 — 𝗙𝗹𝗲𝘅𝗶𝗯𝗶𝗹𝗶𝘁𝘆 𝗶𝘀 𝗲𝗺𝗯𝗲𝗱𝗱𝗲𝗱. No red tape. Agility is protected, even at scale. → 𝗥 — 𝗥𝗲𝘀𝗽𝗼𝗻𝘀𝗶𝘃𝗲𝗻𝗲𝘀𝘀 𝗶𝘀 𝘁𝗵𝗲 𝗻𝗼𝗿𝗺. As one MD once told me when I hesitated on a bold campaign spend: “If you are confident, go ahead. We don’t have to wait for approval to come from Geneva. Send me a note in the evening, I will approve it.” → 𝗢 — 𝗢𝘃𝗲𝗿-𝗶𝗻𝘃𝗲𝘀𝘁 𝗶𝗻 𝗯𝗿𝗮𝗻𝗱𝘀 (𝗮𝗵𝗲𝗮𝗱 𝗼𝗳 𝘁𝗵𝗲 𝗰𝘂𝗿𝘃𝗲). Brand investment doesn’t just mean TV advertising but visibility in channels, amongst influencers and consumers. They take risks with that investment even before achieving scale. → 𝗡 — 𝗡𝘂𝗿𝘁𝘂𝗿𝗲 𝘁𝗵𝗲 𝘁𝗮𝗹𝗲𝗻𝘁. Responsibility and trust create loyalty. Employees become custodians, not just staff. → 𝗧 — 𝗧𝗿𝗮𝗱𝗲 𝗮𝘀 𝗮 𝗿𝗲𝗹𝗮𝘁𝗶𝗼𝗻𝘀𝗵𝗶𝗽, 𝗻𝗼𝘁 𝗮 𝘁𝗿𝗮𝗻𝘀𝗮𝗰𝘁𝗶𝗼𝗻. Dealers and distributors are business partners, not numbers. Leaders know them by name and solve their problems hands-on. That is why products reach every shelf from metros to kiranas. → 𝗜 — 𝗜𝗻𝘀𝗶𝗴𝗵𝘁 𝘁𝗵𝗮𝘁 𝗰𝗼𝗺𝗲𝘀 𝗳𝗿𝗼𝗺 𝗹𝗶𝘃𝗶𝗻𝗴 𝘁𝗵𝗲 𝗺𝗮𝗿𝗸𝗲𝘁. It is not a research report. Leaders stay close to the consumer, connect dots, and act on patterns. → 𝗘 — 𝗘𝗻𝘁𝗿𝗲𝗽𝗿𝗲𝗻𝗲𝘂𝗿𝗶𝗮𝗹 𝗰𝗮𝗽𝗮𝗯𝗶𝗹𝗶𝘁𝘆-  is built deep in the organisation. Everyone is trained to sniff opportunities, not just the founder. → 𝗥 — 𝗥𝗮𝗶𝘀𝗶𝗻𝗴 𝘁𝗵𝗲 𝗯𝗮𝗿 𝗰𝗼𝗻𝘀𝘁𝗮𝗻𝘁𝗹𝘆. Wins are celebrated, but never worshipped. Progress never stops. The operating code is simple, but powerful: 𝗧𝗵𝗶𝗻𝗸 𝗹𝗶𝗸𝗲 𝗲𝗻𝘁𝗿𝗲𝗽𝗿𝗲𝗻𝗲𝘂𝗿𝘀. 𝗔𝗰𝘁 𝘄𝗶𝘁𝗵 𝘀𝗽𝗲𝗲𝗱. 𝗦𝘁𝗮𝘆 𝗰𝗹𝗼𝘀𝗲 𝘁𝗼 𝘁𝗵𝗲 𝗺𝗮𝗿𝗸𝗲𝘁. 𝗕𝘂𝗶𝗹𝗱 𝗽𝗲𝗼𝗽𝗹𝗲. 𝗡𝗲𝘃𝗲𝗿 𝘀𝗲𝘁𝘁𝗹𝗲.

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Small-cap entrepreneurs are quietly becoming the backbone of India’s growth story. Their strength lies in innovation, frugality, conscious resource deployment, and a deep commitment to purpose, ethics, and transparency. Founders who embrace collaboration, build strong co-founding teams, and engage independent boards early are creating companies that will endure—and lead. Small-cap India is rising. The future belongs to builders with clarity and courage. 🚀🇮🇳 — Shailesh Haribhakti

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