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E-Cell IIT-BHU's Weekly Newsletter!
Hello 👋👋 peeps!
Out of all the things we have seen together in the past two and a half years, the invasion of Ukraine is the worst thing that could have happened.
Countless innocent are suffering, lives being ruined, and a complete state being destroyed only to exert dominance.
Our prayers are with the families affected and we hope this comes to an end soon.
But even in the gloom, we must carry out our responsibilities, ours is to provide meaningful content, and here we are on our call of duty!
First Fintech Startup this year, Perfios gets Unicorn status
Perfios, founded in 2008, helps financial institutions in real-time decision-making, analysis, and credit underwriting.
Warburg Pincus and Bessemer Venture Partners, the existing investors of Perfios led a Series C funding round of nearly $70 million which made Perfios enter the Unicorn Club.🦄
Although the exact valuation is not disclosed in the latest funding round by VC Circle estimates, the latest fundraise values the startup at $4.05 billion.
According to Perfios, the fund will be utilized as:
To further grow the business📈
Capital expenditure and working capital requirements📋
Warburg Pincus, through its affiliate Pear Valley Investment Ltd, invested nearly $55 million, while Bessemer Venture Partners invested $15 million through subsidiary Bessemer India Capital Holdings II Ltd.
Can you get someone other than angel investors or venture capitalists to invest in your idea? 🤔....someone outside the traditional pool of investors? Turns out, through crowdfunding, you can!
Crowdfunding is the practice of funding a project or a business by raising money from a large number of people 👥. It involves collecting small sums of money from a large number of people to raise capital.
The entire process of crowdfunding basically consists of- the person who initiates the project, the people who support the project, and the platform that brings the two groups of people together -like a crowdfunding website. In some jurisdictions, there is a limit to how much a person may contribute in crowdfunding 💵 so that immature investors don't put all their savings at risk.
Buyology: Truth and Lies About Why We Buy
How much do we know about why we buy? What truly influences our decisions in today’s message-cluttered world? And also, all of us know about subjects like biology, zoology and even psychology…but, did you ever hear about something like Buyology!?🤔
Here we’re with this book Buyology: Truth and Lies About Why We Buy. In Buyology, Martin Lindstrom presents the astonishing findings from his groundbreaking three-year, seven-million-dollar neuromarketing study—a cutting-edge experiment that peered inside the brains of 2,000 volunteers from all around the world as they encountered various ads, logos, commercials, brands, and products.
“When we brand things, our brains perceive them as more special and valuable than they actually are.”
― Martin Lindstrom
Buyology is a fascinating and shocking journey into the mind of today's consumer that will captivate anyone who's been seduced—or turned off—by marketers' relentless attempts to win our loyalty, our money, and our minds.
Come on! Let’s know about consumers’ mindset by taking a quick read…
“Don’t worry about being successful but work toward being significant and the success will naturally follow.”
-Oprah Winfrey, CEO of Harpo Productions.
Now let us see how many of you could still remember some of the common entrepreneurship terms which came across you in the previous newsletters.
So here are some rebus puzzles for you all. The answers to which would be given in the upcoming newsletter.
Mensa's GENIUS E-commerce strategy…
Mensa Brands, the e-commerce roll-up firm founded by former Myntra CEO and Medlife cofounder Ananth Narayanan, entered the unicorn club last year. Mensa Brands is one such start-up that has taken the Indian start-up ecosystem by surprise!!
In just 6 months of its launch, this company raised 300 million dollars to become the fastest growing unicorn in Indian business history! Mensa has claimed to become profitable within these 6 months itself!! How does their business model work? and most importantly, as entrepreneurs in this Indian Startup space, what are the opportunities that MENSA BRANDS is creating for people like you and me?
Watch this video to know more.
Hope you liked this week’s newsletter. We have completed ten editions of our newsletter and many more are on the way.
Keep reading, Keep supporting!✨