Driving Business Growth through Human Motivation

ADVANTAGE KARNATAKA

Driving Business Growth through Human Motivation

Xoxoday is engaged in creating the RIPPLE (Rewards, Incentives, Payouts, Perks, Loyalty and Engagements) effect. Could you elaborate?

Our vision is to make growth stories rewarding through our mission to provide technology infrastructure for rewards, engagement, and loyalty for businesses worldwide. Driven by our vision and mission, Xoxoday has been building the technology infrastructure to enable businesses to automate rewards, incentives, perks, engagement, & payouts processes across the value chain. We raised our first institutional round of funding from Giift, backed by Apis Partners Growth Fund II and have added loyalty to our kitty. The time was RIPPE for a RIPPLE. As children, we enjoyed creating ripples. Xoxoday is functioning at the intersection of delight and creating RIPPLES that help businesses grow holistically. Today our product suite comprises SaaS solutions for rewards, engagement and loyalty, helping organizations achieve holistic business growth by enabling the growth of all the stakeholders: consumers, employees, and sales & channel partners.

Could you name some of your major customers?

We work with 1500+ clients including many companies from the Fortune 500. Shell, Adobe, Nielsen, Mindtree, Freshworks, Kantar, H.M., Capgemini, Cleartrip, Ola, Dunzo, Pepsi, and Freshworks, to name a few.

Could you recall how Xoxoday was formed and also how you decided on the name of the firm?

Xoxoday was formed in 2017 after we decided to dedicate our entrepreneurial journey to our vision and mission. Our tagline is: We make growth stories rewarding. We believe that business growth is not a one-dimensional variable but a compound function that encompasses growth with an organization’s employees, customers, sales and channel partners. Therefore, each product addresses one aspect of the growth variable: employees, customers, and sales & channel partners. As mentioned earlier, we function at the interface of delight, and delight evokes feelings of happiness and deep appreciation. In a light-hearted way, these are expressed as XOXO. The way we have a Monday or a Tuesday, why not a Xoxoday every week if not every day?

Could you tell us about the benefits of connecting to the Xoxoday API solution?

The Xoxoday API feature is one of the sophisticated and scalable APIs. It allows users to automate rewards instantly via the application of their choice. With APIs, users can view catalogues based on their country, region, and preferences. Our API feature also supports webhooks, thereby bringing efficiency to management.

You are now joined by Giift. What would be the impact of this partnership?

As mentioned earlier, our funding from Giift has been the driver of the RIPPLE. Our

Headquartered in Bengaluru, Xoxoday is a startup whose genesis to growth has been in Bengaluru, nurtured by the energetic startup environment of the city. It is a rapidly-growing fintech Software as a service (SaaS) firm that propels business growth while focusing on human motivation. The company aims to make growth stories rewarding through its mission of providing technology infrastructure for rewards, engagement, and loyalty for businesses worldwide. “Xoxoday is well placed to take a leadership position in the Rewards, Incentives, Payouts, Perks, Loyalty, and Engagement (RIPPLE) sector and emerge as a formidable global player in the next 2-3 years. Through our RIPPLE effect, we plan to touch and impact the lives of 100 next billion users of the web,” said Sumit Khandelwal, Co-founder & CEO, Xoxoday. In an interview with Advantage Karnataka, he talks about the company’s latest business operations and future plans.

Sumit Khandelwal

Co-founder & CEO Xoxoday

partnership allows us to cover the length and breadth of the Rewards, Engagement and Loyalty space, helping us accomplish our vision through a comprehensive SaaS Product Suite.

Could you elaborate on the India operations of Xoxoday? Also, could you inform us about your association with Karnataka?

We are headquartered in Bengaluru, and we are a startup whose genesis to growth has been in Bengaluru, nurtured by the energetic startup environment of the city. Apart from being influenced by the culture of Karnataka, which places great emphasis on learning and growth, we are active participants in the startup community. We are also proactive members of the Bangalore Chamber of Industry and Commerce.

Tell us about the international operations of the company. What are your future plans?

Xoxoday is well placed to take a leadership position in the Rewards, Incentives, Payouts, Perks, Loyalty, and Engagement (RIPPLE) sector and emerge as a formidable global player in the next 2-3 years. Through our RIPPLE effect, we plan to touch and impact the lives of 100 next billion users of the web.

FY 2021-22: HAL Scales New Peak, Records Revenue of Over Rs. 24,000 Crores

R. Madhavan

CMD, HAL. HAL records highest ever revenue of over Rs. 24,000 crores (provisional and unaudited) for the financial year ended on March 31, 2022 registering a 6% revenue growth over the previous financial year. The corresponding figure for the previous year stood at Rs. 22,755 crores.

“Despite the challenges of the second wave of Covid-19 during the first quarter of the year and the consequent production loss, the Company could meet the targeted revenue growth with improved performance during the balance period of the year”, said Mr. R. Madhavan, CMD, HAL.

The second wave of Covid-19 had compelled the Company to declare a phased lockdown at various Divisions during April and May 2021. The employees had put in additional hours in June and July 2021 to compensate for the loss of man hours due to the lock down.

Further, based on the improved financial performance and cash flow position, the Credit Rating Agencies CARE Ratings and ICRA Limited have upgraded the Company’s credit rating from AA+ Stable to AAA/Stable during the financial year.

BEL achieves record turnover of Rs. 15000 Crores

Government will go any miles to support Startups: Chief Minister

Anandi Ramalingam

CMD,BEL

Navratna Defence PSU Bharat Electronics Limited (BEL) has achieved a turnover of about Rs.15000 Cr (Provisional & Unaudited), during the Financial Year 2021-22, against the previous year’s turnover of Rs. 13,818 Cr, despite challenges posed by the COVID-19 pandemic and global semiconductors shortage.

BEL’s Order Book as on April 1, 2022, is around Rs. 57000 Cr. In the year 202122, BEL secured significant orders worth (approx.) Rs.18000 Cr. Some of the major orders acquired during the year were Avionics Pack for Light Combat Aircraft (LCA), Advanced Electronic Warfare Suite for Fighter Aircraft, Instrumented Electronic Warfare Range (IEWR), Electronic Voting Machine (EVM) & Voter Verifiable Paper Audit Trail (VVPAT), Cdr TI- T90 Tank, COMINT System, Radar Warning Receiver (RWR) & Missile Approach Warning System (MAWS) for C-295 Programme, Electronic Gun, IoT Gateway, etc.

Some of the flagship projects executed during FY 2021-22 were Missile Systems (Air Defence Weapon System & LRSAM), Command & Control Systems, Communication and Encryption products, various Sonars, Electro-optic Systems, Fire Control Systems, Gun Upgrades, various Radars, Electronic Warfare Systems, Coastal Surveillance System, Un-manned Systems, Home Land Security Systems, Smart City projects, K-FON, Medical Electronics, etc.

BEL achieved Export sales of around US$ 32.26 Million during FY 2021-22. Major products exported included Coastal Surveillance System, Trans-Receive (TR) Modules, EO-IR Payload System, Compact Multi-Purpose Advanced Stabilization System (EOS CoMPASS), Solar Hybrid Power Plant, Data Link, ElectroMechanical parts, Low Band Receivers (LBREC), Medical Electronics, Spares for Radars, etc. BEL’s Chairman & Managing Director, Anandi Ramalingam, said: “Realising our country’s goal of achieving Atmanirbhar Bharat is of paramount importance. BEL will make concerted efforts to achieve self-reliance through Make in India initiatives, indigenisation, import substitution, outsourcing to Indian private industry and enhanced thrust on MSME and GeM procurement. The Company is all set to expand its wings and increase its global footprints by making all-out efforts to tap new markets across the globe. BEL will continue to explore new growth opportunities through diversification, capability enhancement and competitiveness, modernisation, etc. BEL has ventured into new potential businesses such as Arms & Ammunition, Medical Electronic Devices, Unmanned System Platforms, etc., and is poised to make significant headway in these segments in the years to come.”

Chief Minister of Karnataka Basavaraj Bommai inaugurated India’s first global conference on Startups, India Global Innovation Connect in Bengaluru. Speaking on the occasion, Shri Bommai said Karnataka is at the forefront of startup innovation. Bengaluru is home to 400 of the Fortune 500 companies and no other country in the world has as many such companies. “Startup is not new to Karnataka and Karnataka is the top destination for startups and not one of the top states,” he said.

“The Karnataka government will go any miles in supporting startups. We are not worried about the competition. It keeps us going and growing. We convert the competition into acceleration,” he said during his conversation with Claude Smadja, President of Smadja & Smadja advisory after inaugurating the two-day conference.

Stating that Karnataka is the first state in the country to introduce a startup policy, he said, the seeds of startup revolution were sowed by the Maharaja of Mysore who supported industrialization, banking and innovation much before the country attained independence.

The inauguration was also attended by a galaxy of international investors, private equity firms, entrepreneurs and innovators from Singapore, Israel, Switzerland, the US, Japan, Korea and Germany.

Declaring the conference open, Claude Smadja, President, Smadja & Smadja, said, “India has always been a land of great entrepreneurial promise for me. As the 4th Industrial evolution has begun, it is pertinent to acknowledge that India will play the role of a catalyst especially with its ability to innovate solutions for itself and the world. India now has the world’s third-largest start-up ecosystem. As a result, the India Global Innovation Connect highlights the potential of how India’s start-up and innovation story is becoming global. Its emergence as the new Silicon Valley of the world will lead to a greater, safer, and stronger tomorrow.”

The event was organized by Smadja & Smadja, a Switzerland-based strategic advisory firm, in a strategic partnership with Karnataka Digital Economy Mission (KDEM), Catamaran Ventures, and Tata Digital.