TechMantras #4

From India's biggest startup turnaround story to exams failed by ChatGPT, this week's roundup.

Author

Vikram Venkat
March 05, 2023

Welcome back to TechMantras! Your one-stop guide for information on the Indian startup Ecosystem

Every week, I consume various articles on the Indian startup ecosystem, and deliver exciting metrics and developments through a quick read.

Some Exciting news

1. 🔗 Link: ChatGPT fails India’s biggest competitive exam.

ChatGPT fails UPSC

  • Indeed. ChatGPT has passed the US bar exam, the US Medical licensing exam, but failed an exam regulated by the Indian Education system, the Indian Civil Services Examination.

  • Incidentally, it also failed the JEE entrance exam, the first on the road to a spot at the IIT’s.

2. 🔗 Link: Unicorn founders: College Dropouts or Degree holders?

  • Just 1 out of 219 Unicorn founders in India is a dropout.

  • Always remember, the popular narratives focus on exceptions. Just 56 out of 1200+ unicorn founders in the US are dropouts.

You’re more likely to be a founder as a Phd than as a dropout.

3. 🔗 Link: Indian Tech Industry to hit $245 Billion in FY 2023

  • Despite global headwinds and moderation in demand, COVID-19 made the use of technology a necessity.

  • The industry grew at 15.5%, its highest in a decade, showing the resilience of the economy and the bullishness of FDI’s and investors.

This week’s Roundup

1. 🔗 Link: India’s biggest startup turnaround story?

Marrying technology with a traditional consumer experience, CaratLane is back.

  • The brand had posted revenues of up to $25 million in 2011 due to their unconventional business model.

  • Building muscle with their acquisition by Titan, they are now the the group’s fastest growing subsidiary.

  • Read more about their business model in the link above, and how they pivoted at every step to serve the ever-changing Indian e-commerce industry.

The company is also aggressively marketing to the GenZ population.

2. 🔗 Link: Agritech firm’s revenue rises to 2300Cr

DeHaat’s FY23 revenue set to rise 80%

  • Not a long time ago, this firm raised $60 Million at a $700 million valuation, and now it’s business model is booming.

  • It uses AI to help farmers source raw inputs, find credit services and sell crops, among other services.

And that’s all for today friends! Thanks for reading, and I would love to hear your thoughts.

As always, feel free to reach out to me on LinkedIn, Twitter, and Instagram!

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