Many agri startups have given away equity in exchange for so-called mentorship. It's unfortunate that someone who has made zero returns in the fund is now taking advantage and acquiring equities. Startups should steer clear of such individuals.

Founder

Corporate Strategist

Welcome to Indian Startups's Private Community

Heard of Hemendra Mathur? Heard he looted most of the sweat equity in agri.

Heard of Hemendra Mathur? Heard he looted most of the sweat equity in agri.- Grapevine

Recently a fraud has been exposed at MooFarms wherein the Head of Finance is blamed to have siphoned around INR 10cr, while he has registered an FIR against the founders for taking out the money by inflating the vendor invoices. What is your take, who can provide the insight?

Fraud at MooFarm

Product Owner

I have recently started working out and looking to gain muscles. Need help in planning the diet and workout routine. Should I consider Fittr Or Healthify Me as an option? Do they help? 

I am a vegetarian. Not obese, but have high body fat (~30%) .

Is Fittr helpful?

And founders themselves embezzling more than 45Cr

So problematic. Allegations of 90% revenue being fake

Product Manager

Imploding after investors turned off the taps a year so ago.. investors spoilt the ecosystem chasing growth with weak business models.. disintermediation doesn’t always work.. neither does setting up models that impose costs and ignore risks …
the chickens come home to roost..

Agritech startups .. train wreck in slowmo …

Welcome to Confessions's Private Community

I was into a founder’s office. Working closely with the leadership team of a funded Agri-tech startup (Which shall strictly remain anon in this post)

Does it happen to others the same way as it did to me?

I was one of the first FOs in the org and I was trying to figure what is up with this startup.

About 21 days in to company, I was helping a co-founder with a report that has to go out to investors.

I open up the metrics dashboard to enter numbers when he said “he knew the figures by heart”, so we began entering metrics like GMV and others. These were 5x of my range.

I said we should just double check ? He said there are factors in the formula that I have not considered at all and I finish the report as per the numbers he gave me.

Confused, I later dared to ask the lead PM how are we computing GMV. And told him about my dilemma to tell the founder we need to just double check his calculations.
Bless my naiveté.

He had a nervous smile and told me we report numbers that keep the startup exciting and afloat. We will catch up very soon with them.

The next morning, the founder also took me for a meeting and explained how doing this is important for everyone in the company to succeed.

I was very scared but lived in an autopilot of nervousness for 6 months. Part-took in it while being scared of going to prison myself.

I felt a terrible dread in my stomach in every interaction with with the admin and CA teams since in my first interaction I came across what I sensed to be a big fake bill. Was I blind to miss everyone in the office get a new chair the last month?

I never asked doubts on the money numbers the CA team gave me. But had reasons to doubt it basis other business data I had access to.

Everyone seemed to be on the same kind of auto pilot, good people who had never done anything wrong before this as far as I knew. Everyone considered leaving the culture and toxicity every week. 

The day I left, I had the email of the investors of the company since I’d emailed them countless decks and reports. I really wanted to drop an anonymous email revealing what I knew to them but I was afraid of the following repercussions to my career and I let the matter go.

Reporting fake GMV and more

Looks like you had a ‘Haat’ time working there

Recruiter

Investment Associate

Welcome to Ask Grapeviners's Private Community

Hey everyone,

I had this random thought - what if you could invest directly in farm harvests? Like, instead of buying stocks in big agriculture companies, you actually bought a share of a farm's crops and made money when they sell.

I'm curious - if this was a real thing, what kind of returns would you expect to make it worth your while?

Just a quirky idea that popped into my head. Interested to hear what you all think - cool concept or totally crazy?

Weird investment idea - farming returns?

Software Engineer

Rahul Yadav joined India Realty as a co-founder, according to its pitch deck. Source: The Arc https://search.app/YoHGUb812BEBNpt86

Welcome to Product Managers's Private Community

1. How is the work culture, learning and growth opportunities?
2. If you have worked/are working in Dehaat then what’s the average hike that one can expect?
3. If you used to work at Dehaat then why did you leave it?

How is DeHaat as a company for Product Management roles?

Ye toh dhoti khol raha hai ft. Apna

Welcome to News Discussion's Private Community

Because that money doesn't actually reach them.

"While public sector insurance companies settled 90 per cent of farmers’ claims, private sector companies such as Bharti AXA, Reliance General Insurance, and Future General India Insurance pocketed enormous profits of nearly Rs 39,201 crores without paying farmers their rightful dues."

How does a farmer claim insurance? By logging onto a mobile app. How many farmers are tech literate enough to use insurance apps in India? No one cares

The governmentâ€™s ambitious flagship Pradhan Mantri Fasal Bima Yojana is marred by allegations of irregularities. Read this!

Why the Pradhan Mantri Fasal Bima Yojana needs a complete revamp

But bro why not give farmers insurance instead of msp

What’s the chatter regarding Indian startup’s in agritech? Dehaat, Waycool, Ninjakart etc.. hear they’re hunkering down but are likely to survive the next couple of years at least…

Agritech scene

Welcome to Personal Finance's Private Community

In a country of 140 crore people, only 6.77 crore file taxes, out of which only 20 lakh people pay taxes with income over 20 lakh. 

The income tax data collected shows only 1.7 lakh people reporting income of more than Rs 1 crore in a year.

 Yet luxury brands like BMW, Jaguar, Audi, Mercedes, Porsche, and Maserati sell almost 35,000 cars every year. 

Also, 45 lakh people have incomes above Rs 10 lakh, but 25 lakh cars are bought every year. That only shows that tax evasion is soaring.

45 lakh people have incomes above Rs 10 lakh, but 25 lakh cars are bought every year

Awareness OP by Vijay Mallya.

Poonam Pandey got inspiration from him

Vijay Mallya The FinFKuencer OG

Senior Consultant

At the heart of the current crisis at the proptech startup lies a flawed business model, sham prospective buyers and higher-than-usual payouts to brokers.

How Rahul Yadav bungled Info Edge-funded 4B Networks-The Morning Context

Rahul Yadav's 4B Network, what a scam! one of the best articles out there

Product Marketing Manager

Engagement farming is going out of hand

If founders care more about customer then they don't have to bow infront of VCs.

Customer Obsession >> Funding Obsession

Byjus debacle $ 22B to $ 1B.

True hai kya?

Well, not everyone can be village elder, have ancestral land etc. BUT everyone can become a software engg :-) 

So calculate the odds first before deciding grass is greener on the other side.

ReshaMandi, a startup that raised over $40 Mn in equity funding, is facing insolvency pleas and has allegedly coerced employees to join another company, Genzr Solutions Private Limited, leaving hundreds of former employees awaiting salary dues.

- ReshaMandi's downfall was attributed to rapid expansion across various verticals, revenue inflation, and financial mismanagement, including inflated revenue, fake vendors, and loan defaults.

- ReshaMandi's founders and management personnel have joined Genzr, a seemingly unrelated company, raising questions about the acquisition and the funding received from an unrelated source.

- The failure of ReshaMandi has raised concerns about VCs investing without adequate due diligence and the accountability of investors and founders for the company's financial situation and treatment of employees.

Source: Inc42 - https://inc42.com/features/inside-the-upheaval-at-reshamandi-a-questionable-2nd-innings-after-a-40-mn-collapse/

Corporate Governance Trouble at Reshamandi 🧵

Journalist

Saw this question on a really old AskReddit thread, and it made for a very interesting read. 
Learnt that Lancome is exact the same products at Loreal but 20% more expensive.

But most of the things were US related. Got me curious what the Indian version would look like.

Looking to learn some industry secrets, TILs, and more :)

What secret from a former job can you reveal now that you no longer work there?

Energy domain - my previous company was selling their Software in the name of AI but all they were doing in the background was manual calculation and Power BI methodologies.  
 Scam 😆

Consultant

https://www.ndtv.com/india-news/shubhkaran-singh-farmers-protest-farmer-killed-in-protest-owned-2-acre-land-took-loan-for-sisters-wedding-5105592

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