Winners of the second edition of Forbes India Tycoons of Tomorrow event held in Mumbai on September 30, 2022.
Alia Bhatt in conversation with Mangalam Maloo, Assistant Editor and Senior Anchor, CNBC-TV18, about her new stints as an entrepreneur, an investor, and now, also as a producer with her production house Eternal Sunshine.
Preeti Sahni, COO, Forbes India, presenting Alia Bhatt with the recognition of Forbes India Icon of Excellence.
India is home to more than 100 unicorns, but there are only a handful who shine brigh i the sea of red. Cofounders of two such profitable unicorns—Aaditya Sharda and Souvik Sengupta of Infra.Market and Varun and Alagh Ghazal of Mamaearth—in dicusssion on ‘the need for more profitable unicorns in India’. The panel was moderated by Shruti Mishra, Deputy Editor, CNBC TV18(in the center).
Brian Carvalho, Editor, Forbes India and Ashish Gupta, brand director at Volkswagen Passenger Cars India giving the Tycoons of Tomorrow award to Kairav Engineer, VP-Business Development Astral (in the center).
(L-R) Brian Carvalho, Editor, Forbes India, Infra.market cofounders Aaditya Sharda and Souvik Sengupta with their Tycoons of Tomorrow award, and Ashish Gupta, brand director at Volkswagen Passenger Cars India.
Brian Carvalho, Editor, Forbes India and Ashish Gupta, brand director at Volkswagen Passenger Cars India present the Tycoons of Tomorrow award to Bollywood star and one half of the heart and soul of Little Things, Mithila Palkar.
Sameer Mehta, the cofounder of boAt receiving Tycoons of Tomorrow award from Anil Kaushal, Head-Lupin Life, and Avinash Kaul, CEO, Network 18 & MD AETN.
Nisha Poddar, Editor—M&A, CNBC-TV18, moderating the panel on 'First-generation founder or family business next-gen entrepreneur: What would you choose?' Sudhakar Adapa, Founder & CEO, Commerzify; Kairav Engineer, VP – Business Development, Astral and Ashwin Damera, founder, Eruditus participate.
Avinash Kaul, CEO, Network 18 & MD AETN and Anil Kaushal, Head-Lupin Life, present the Tycoons of Tomorrow award to the cofounders of Mamaearth, Ghazal and Varun Alagh.
Avinash Kaul, CEO, Network 18 & MD, AETN, and Anil Kaushal, Head-Lupin Life, present the Tycoons of Tomorrow award of Mihir Parekh, executive director, Nilkamal to his parents Smriti Parekh and Hiten Parekh, the managing director of Nilkamal.
Avinash Kaul, CEO, Network 18 & MD, AETN and Anil Kaushal, Head-Lupin Life, presenting the Tycoons of Tomorrow award to Ashwin Damera, founder, Eruditus.
Monika Gunalan, Head of People Ops, APAC, Postman, accepts the Tycoons of Tomorrow award on behalf of Postman’s Abhinav Asthana from Avinash Kaul, CEO, Network 18 & MD, AETN and Anil Kaushal, Head-Lupin Life.
Dhaval Vikamsey from Yubi, accepts the Tycoons of Tomorrow award on behalf of Yubi’s Gaurav Kumar from Avinash Kaul, CEO, Network 18 & MD, AETN and Anil Kaushal, Head-Lupin Life.
OTT got a massive push during the pandemic. We've seen new talent and contemporaries break the boundaries of entertainment, creativity and content to find unparalleled fame. OTT then is the great leveller. Actors Pratik Gandhi, Rasika Dugal, and Mithila Palkar discuss how the new tech has redefined content and talent in a panel moderated by Kunal Purandare, Editor-Desk, Forbes India.
Avinash Kaul, CEO, Network 18 & MD, AETN and Commerzify's Sudhakar Adapa present the Forbes India Icon of Excellence citation to Rasika Dugal.
Avinash Kaul, CEO, Network 18 & MD, AETN and Commerzify's Sudhakar Adapa present the Forbes India Icon of Excellence to Pratik Gandhi.
A full house at Forbes India Tycoons of Tomorrow 2021-2022 gala night.
It would be fair to say that the 'Tycoons of Tomorrow' are not just about net worth and self-worth. The Tycoons of Tomorrow are those who are still on a journey—one of imagination, creativity, and implementation. Milestones for them are a blur in the rear-view mirror as they step on the gas to navigate unmapped territory.
Over the years, apart from chronicling the evolution of business and entrepreneurship in India, Forbes India plays a catalytic role in identifying the next generation of leaders. The 2021-22 Forbes India Tycoons of Tomorrow gala, presented by NEOM, felicitates this new generation that will lead tomorrow.
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Image: Vikas Chandra Pureti for Forbes India
Highlights of 2020-21: Revenue jumped from Rs 350 crore in FY20 to Rs 1,242 crore in FY21; now clocking a run rate of Rs 6,000 crore
Why a Tycoon: Valued at $2.5 billion, Infra.Market is a profitable unicorn, and the largest B2B online infra procurement platform in India
Medium to long-term prospects: IPO plans in a year
Image: Hemant Mishra for Forbes India
Highlights of 2020-21: Became largest API network; value sky-rockets to $5.6 billion
Why a Tycoon: Ushering in the era of 'API-first' software
Medium to long-term prospects: Potential to become a game changing platform for software development
Image: Donald Miralle / AFP
Highlights of 2020-21: Finished 4th at the 2020 Tokyo Olympics, within striking distance of a medal
Why a Tycoon: For giving Indian golf rare visibility and its best moment
Medium to long-term prospects: If she builds on her current success, Aditi will not only up her stocks on the international circuit, but also inspire a lot of girls to take up the sport in India
Image: Madhu Kapparath
Highlights of 2020-21: Nykaa's blockbuster IPO
Why a Tycoon: Adwaita heads Nykaa Fashion, which is growing rapidly; Anchit is behind onboarding some of the largest international brands on Nykaa
Medium to long-term prospects: Growing Nykaa Fashion, Nykaa Man, and the e-B2B Superstore
Image: Emmanual Karbhari for Forbes India
Highlights of 2020-21: Revenue zoomed from Rs 237 crore in FY19 to over Rs 1,000 crore in FY21
Why a Tycoon: India's biggest earwear and true wireless brand, and the 5th largest wearable brand globally
Medium to long-term prospects: Filing an IPO early next year
Image: Selvaprakash Lakshmanan for Forbes India
Highlights of 2020-21: Built out short video platform Moj within hours of the TikTok ban in India; boasts 160 million MAUs. Parent company Mohalla Tech, which also runs ShareChat, turned unicorn with a $2.1 billion valuation in April
Why a Tycoon: For steering ShareChat and Moj to become India's leading local language social networking and short video platforms, respectively, in a short span of time despite stiff competition
Medium to long-term prospects: If capital and AI capabilities are a moat in this business, Mohalla Tech has built out a strong defence for itself to take advantage of the content boom India is set to see
Image: Hemant Mishra for Forbes India
Highlights of 2020-21: Raised $260 million in Series C funding from Coinbase Ventures and Andreessen Horowitz in September; crossed 11 million registered users in a record 15 months in October
Why a Tycoon: It is India's most valued crypto unicorn, valued at $1.9 billion. It is Andreessen Horowitz's first investment in an Indian startup, and Tiger Global's first investment in an Indian crypto company
Medium to long-term prospects: Plans to deliver diverse investment options to its growing customer base
Image: Nayan Shah for Forbes India
Highlights of 2020-21: Annual bookings almost doubled from $92 million in FY20 to $175 million in FY21; now clocking a run rate of $505 million for FY22
Why a Tycoon: Valued at $3.2 billion, Damera is building a global business out of India that is growing at a furious pace, and is on course to break even in FY22
Medium to long-term prospects: Targeting a bigger slice of higher education, which is a $3 trillion market globally
Image: Madhu Kapparath
Highlights of 2020-21: Turned unicorn; commerce business grew 4x
Why a Tycoon: For building a large company in the B2B sector
Medium to long-term prospects: Plan to go public, expand into more sectors and business lines
Image: Balaji Gangadharan for Forbes India
Highlights of 2020-21: Yubi raised a record $90 million from Sequoia Capital India, Lightspeed, and other investors—the largest Series A funding through equity for an Indian company
Why a Tycoon: For successfully creating and running three startups
Medium to long-term prospects: Strong, considering that the need for debt will continue to be present in a still low interest rate regime
Image: Nishant Ratnakar
Highlights of 2020-21: Turned unicorn, grew 3x in the past one year
Why a Tycoon: For creating a company that continues to bring out innovative products that make life easier for customers
Medium to long-term prospects: As India's digital ecosystem grows, so will Razorpay with its full-stack financial platform for businesses and startups
Highlights of 2020-21: Announced the launch of sanitaryware along with other launches in existing verticals
Why a Tycoon: Grown the piping and adhesive business significantly
Medium to long-term prospects: Successfully creating a brand for Astral in the sanitaryware space
Image: Rahul Jhangiani
Highlights of 2020-21: Scored a century at Lord's; highest run-scorer in IPL 2020; hit the second-fastest fifty by an Indian during the T20 World Cup
Why a Tycoon: Has cemented his position as an opening batter across three formats
Medium to long-term prospects: Shaping up to be the captain of the national team in the long run
Image: Harsha Vadlamani
Highlights of 2020-21: Bringing out vaccines for India's Covid-19 fight
Why a Tycoon: She is single-handedly running and building Biological E into a vaccine powerhouse in India
Medium to long-term prospects: Covid-19 vaccines, and WHO-approved vaccines for kids where her company has built up a solid presence
Image: Hemant Mishra for Forbes India
Highlights of 2020-21: While plastic was a non-essential material during Covid-19, Parekh led his team to quickly re-engineer their business vertical to develop emergency hospital beds, barriers, shields and other health care products
Why a Tycoon: For launching a sustainable reusable plastic vertical and heralding the company towards a sustainable business
Medium to long-term prospects: With focus on sustainability and new business verticals, Parekh is poised to tap a larger addressable market
Image: Nayan Shah for Forbes India
Highlights of 2020-21: Won popularity and acclaim for her performances in the series 'Little Things' and Hindi film 'Tribhanga', both on Netflix
Why a Tycoon: She has emerged as a relatable young star who is pushing the envelope by picking projects and roles across mediums and languages
Medium to long-term prospects: With streaming platforms gaining popularity, a young, multi-talented performer like her with a growing fan base is sure to receive an interesting variety of offers for both OTT and the big screen
Image: Mexy Xavier
Highlights of 2020-21: Raised Rs 1,500 crore for JSW Cement
Why a Tycoon: For incubating JSW Paints, expanding JSW Cement, steering the US operations, and building JSW Sports
Medium to long-term prospects: Taking JSW Cement and Paints public
Image: Hemant Mishra for Forbes India
Highlights of 2020-21: Two of their funds were ranked as top-performing amongst VCs, based on IRR, during 2010 to 2018
Why a Tycoon: For identifying and investing in startups that will play a deeper role in the current decade
Medium to long-term prospects: Bright, considering their investments are in startup platforms linked to electric vehicles, health tech, neo-banking and social media. One of their investments, direct-to-consumer meat brand Licious, is already a unicorn
Image: Madhu Kapparath
Highlights of 2020-21: Being part of the oxygen cylinder procurement during the peak of the Covid-19 crisis; becoming a unicorn
Why a Tycoon: Moglix became a unicorn in May, showcasing the ability of an industrial goods company to become a $1 billion valuation company with a strong potential
Medium to long-term prospects: As the manufacturing sector begins to see growth, Moglix wants to emerge as the one-stop solution for all manufacturing needs
Image: Mexy Xavier
Highlights of 2020-21: Won acclaim for his performance in 'The White Tiger'; had releases such as 'Ludo' and 'Chhalaang'
Why a Tycoon: Is a proven performer over the years and among the finest actors of his generation
Medium to long-term prospects: Can only go a notch higher and essay even more challenging roles; he is here for the long haul
Image: Amit Verma
Highlights of 2020-21: From Rs 112 crore revenue in FY20, Mamaearth almost touched Rs 500 crore in FY21. The numbers are set to double this fiscal
Why a Tycoon: With a valuation of $730 million, Mamaearth is one of the most valued D2C personal care brands
Medium to long-term prospects: Plans to get into more categories in personal care; recently moved into colour cosmetics segment
Image: Selvaprakash Lakshmanan for Forbes India
Highlights of 2020-21: Number of women micro entrepreneurs using the Meesho app surged to 9 million
Why a Tycoon: Have helped women in conservative India to make money within their communities; created wealth for employees
Medium to long-term prospects: Potential to become a large online commerce platform across small-town India