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August 12, 2022

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Zepto, an instant grocery delivery startup founded by two teenagers, Kaivalya Vohra and Aadit Palicha, brought their company to a valuation of $900 million in just nine months.

Vohra had “a couple of long conversations” to convince his parents for him to drop out of Stanford for his startup. But pulling them on board wasn’t hard, he added, his parents witnessed how rapidly they grew the business in front of them.

In a recent interview with CNBC Make It, the young founders shared how did they build one of India’s fastest-growing quick commerce apps.

People didn’t take the 19-year-olds seriously due to their age and their “crazy” under-10-minute delivery idea. However, their conviction in their product kept them going and helped them convince investors, senior executives, and government authorities. Zepto’s $200 million in May got it closer to unicorn status.

“If we don’t build it, somebody else will. When you operate with that mentality, everything becomes less intimidating.” Palicha told CNBC. 

During the early stages of Zepto, Palicha and Vohra handled all of the company’s customer service inquiries to determine a clear product-market fit. They even brought goods to customers so that they could have a brief conversation and gain valuable insight from them. Palicha claims that they are still doing it in the present day.

Palicha and Vohra had been friends since they were seven. For Vohra, it’s their ability to “hold each other accountable” that brought them this far. 

“Kaivalya and I really complement each other’s skill set. He has always been more technically sound than I am, so he’s made a great chief technology officer,” said Palicha. 

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Image Source: Photograph by Ken Richardson Boston Magazine

Stories

Chef Tracy Chang Gives Back To The Community Through The Language Of Food

Restaurateur Tracy Chang started the nonprofit Off Their Plate and Project Restore Us through the COVID-19 pandemic in 2020. 

The owner of the Japanese tapas restaurant,  PAGU, started Off Their Plate as a way to feed healthcare workers, and Project Restore Us sends nutritious and culturally appropriate grocery boxes to families living in food deserts. Both groups work to support local kitchens run by women and BIPOC and volunteers.

As a chef, Tracy also finds herself more in tune with customers than ever before. As someone who grew up lactose intolerant, she sources ingredients responsibly and remains mindful of the way guests feel after they leave her restaurant. This is also part of her restaurant’s ethos.

Her grandmother has also influenced Tracy’s cooking. Although her grandmother didn’t speak English, she spoke the language of food really well, said Tracy, and that was something that always resonated with her.

For Tracy, her personal experience has definitely come into play — trained in Spain but worked at a Japanese restaurant, and she grew up with a lot of Japanese and Taiwanese food, “The menu at PAGU is autobiographical and about my experience learning very specific dishes and techniques from people like my grandmother, my mentor and some of the chefs I’ve worked with.” she told TimeOut.

Image Source: CNN

Stories

Young Tech Startup Founders In Asia Make Mental Health Support Accessible To Break Stigma

Breaking down societal stigma and creating a new mental healthcare system for the Asia-Pacific area are two of Theodoric Chew’s objectives, founder of the digital mental health app, Intellect.

Founded in 2019, the mobile app frequently monitors users’ moods, delivers rescue sessions and exercises, and lets them chat with therapists in real-time. 

The 26-year-old explained that mental health is just as important as physical health, “You and I face things like stress, burnout, sleep issues, and relationship struggle as well.” he told CNN, “ That’s where actually a lot of us should start working on our mental wellbeing.”

Since early 2020, the startup serves over 3 million Asia-Pacific users in 15 languages. According to CNN Business, the Singapore-based mobile app has raised $20 million in its Series A funding, the largest amount raised by a mental health start-up in Asia.

Early this year, Singapore and Jakarta-based digital mental healthcare start-up, Ami, has raised at least $3 million from a number of investors, including Meta, the owner of Facebook. The firm was founded by Justin Kim, a Forbes 30 Under 30 Asia alum with Beknazar Abdikamalov.

Both digital mental health companies are targeting employers in their business models, where companies can subscribe to provide staff unlimited, private access to their services.

According to the WHO, depression and anxiety disorders cost the global economy $1 trillion a year in lost productivity. In March, it was reported that anxiety and sadness surged 25% worldwide in the first year of the pandemic.

Image Source: Shoutout LA

Uncategorized

Loose Leaf Boba Company Blends Third-wave Coffee And Tea With Cultural Inclusion

Loose Leaf Boba Company is not only well-known for its expert “bobaristas.” but also for its diverse cultural representation including Burmese, Thai, Filipino, and Hispanic. “Going out for boba” was a childhood tradition that assisted the company’s mission of unifying people by normalizing cultural differences.

The brand constantly values cultural inclusivity and also empowers BIPOC, AAPI, women, and the LGBTQ+ community.

Loose Leaf Boba Company’s sharp vision of “Building a Better Boba Company” comes to life every time a customer experiences a foreign favorite, for which they make beverages for customers to try global favorites. This means making tasty beverages like Vietnamese Egg Coffee or Mexican-inspired Guava Atole.

Founded in 2012 by husband and wife duo Thomas and Jasmine Liu in West Covina, the viral third-wave shop has locations across the United States, including Connecticut, California, and Massachusetts.  This bubble tea tycoon has big plans to grow large retail sites in metro Dallas, TX, Northampton, MA, and Hadley, MA.

Image Source: Forbes Asia

Stories

Farm of the Future: Farm66 Cultivates Vegetables Within Hong Kong’s Skyscrapers

In the course of COVID-19, a significant number of people have reported having insufficient access to fresh food entirely for sustainable living.

Gordon Tam has created an urban farm that solves this problem. He is the co-founder and CEO of the Hong Kong-based vertical farming – Farm66. With advanced farming technology, he grows fresh vegetables inside skyscrapers in Hong Kong. 

In 2013, Tam and Billy Lam, Farm66’s COO, founded Hong Kong’s first high-tech vertical farm and developed LED lighting and wavelength innovations for farms. Tam and his team found that different light wavelengths affect plant growth. Red LEDs generate longer, stronger stems, whereas blue LEDs produce larger, stronger leaves.

The technological and robotic advances at Farm66 are also both groundbreaking. The 20,000-square-foot indoor farm is managed with IoT sensors and robots for quality assurance and other tasks. 

When asked about the challenges facing conventional farming, Tam cites a lack of talent as a significant issue. “It’s because the children of many remaining farmers don’t want to take over the farms. They think it’s a very tedious job.” – he told Forbes. This is why he placed a premium on technology and saw it as a means to attract young people to farming by making the industry more appealing.

Farm66’s latest farming mechanism impressed billionaire Tang Yiu’s tech-focused venture capital firm ParticleX. The Alibaba Entrepreneurs Fund, Sino Group, and the Hong Kong government’s Cyberport and Science & Technology Parks are also investors. A total of over $4 million in funding has been acquired so far. Hengqin Financial Investment and the City University of Hong Kong have also backed Farm66.

There are currently fifteen full-time workers at Farm66, including data analysts, food scientists, and mechanical engineers, who can harvest as much as seven tons of vegetables every month. Tam hopes to share its company’s urban farming methods and success in Hong Kong with other cities. For instance, Farm66 converted a shipping container into a mobile farm for use in Middle Eastern desert cities.