This week, the Indian startup ecosystem raised around $187 million in funding, including four growth-stage and 13 early-stage deals.

Between October 21 and 26, at least 21 domestic startups collectively raised $187 million across 10 deals. Last week, 39 early and growth-stage startups raised around $450 million in funding.

This week, Singapore’s sovereign wealth fund Temasek invested an additional $60 million in edtech platform Upgrad.

Healthtech platform Healthify announced the closure of $45 million round, led by existing investor Khosla Ventures, and LeapFrog Investments with new participation from Claypond Capital (family office of Indian healthcare billionaire Ranjan Pai). This takes Healthify’s total primary equity raise to approximately $125 million so far.

Dairy technology startup Stellapps Technologies raised $26 million in series C funding, a mix of equity and debt. Existing investors Blume Ventures, Omnivore, Bill and Melinda Gates Foundation, IDH Farmfit Fund, 500 Startups, and Blue Ashva Capital participated in the round.

D2C bags and luggage brand Zouk raised $10 million in a Series B round led by Aavishkaar Capital. Existing investors such as Stellaris Venture Partners, Titan Capital, Sharrp Ventures, and the JJ Family also participated.

Generative AI startup Neysa secured $30 million in Series A funding, co-led by existing investors NTTVC, Z47 (fka Matrix Partners India) and Nexus Venture Partners. This investment builds on Neysa’s successful $20 million seed round earlier this year.

Meanwhile, workplace technology provider Oliod secured $6 million, led by Yaletown Partners, Exposition Ventures, George Kaiser Family Foundation, and Carya Ventures.

Mumbai-based startups led with nine deals, followed by Bengaluru, Delhi-NCR, Pune and Chennai.

The average funding in the last eight weeks is around $315.51 million.

–IANS

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In the heart of Chennai, nestled amidst the bustling streets and aromatic flavors of South Indian cuisine, lies a culinary haven known as the House of Idlies. But what’s the story behind this humble yet thriving eatery? Meet Umesh Vaidyanathan, the visionary behind House of Idlies, whose journey from a small terrace kitchen to a renowned restaurant is nothing short of inspiring. 

Umesh’s tale begins in 2016, when he and his wife Sadhna Shankar embarked on a mission to share the flavours of home-cooked podi idlies with the world. Armed with recipes passed down through generations, they set out to make a mark in the culinary landscape of Chennai. But theirs was not a journey paved with gold; it was a labour of love, fuelled by passion and dedication.

As Umesh reminisces about those early days, a glimmer of nostalgia dances in his eyes. “We started from my home, with a terrace kitchen,” he recalls. “The recipe of the podi, the batter – all of it was from my mom. It was my wife’s idea to distribute packed podi idlies to retail outlets.”

Umesh’s wife, a Chartered Accountant, was the brain behind the idea to start the business – from packed podi idlies delivered to outlets like Madras Coffee House and Chai Kings or catering to the customers over Swiggy or Zomato to dine-in restaurants in Chennai. 

Their venture, initially named Only Idlies, soon gained momentum, with patrons flocking to savour the authentic flavors of South Indian cuisine. But it wasn’t just about the food; it was about preserving tradition, honouring family recipes, and sharing a piece of home with every bite.

Over the years, House of Idlies evolved, growing from a modest delivery model to a flagship restaurant in T Nagar. But amidst the expansion and success, Umesh has remained grounded, never forgetting his roots or the values that shaped his journey.

“We wanted to create something that felt like home,” he explains. “All our podis and masalas come from our own kitchen, crafted with love and care. We wanted to maintain that homemade essence, that feeling of comfort and familiarity.”

One dish that embodies this sentiment is the signature Podisa – a unique twist on the traditional dosa/uthappam, crafted with precision and passion. 

“With no hefty marketing budget and lacking the grandeur of established restaurants, we knew we had to offer something truly unique to captivate people’s attention.” Recalling their early marketing efforts, Umesh recalled their grassroots approach, utilising platforms like WhatsApp and Facebook to spread the word about their culinary creations. “We wanted to stay true to our South Indian roots while offering something fresh and distinctive. That’s where the idea of introducing ‘podisa’ came into play.”

“You see, we wanted to add a new dimension to the classic dosa experience,” he recounted the genesis of podisa. “But we knew that as a delivery brand, replicating the traditional dosa served on a banana leaf would be a challenge. So, we took inspiration from uthapam, blending it with our own twist. Our rectangular packing boxes became the canvas for our culinary innovation. With no dosa masters at our disposal, we improvised. We crafted a special die to shape the batter and cooked it in an iron pan until it was irresistibly crispy at the bottom.”

“Just like the uthapam you’d enjoy at home, but with a twist. We wanted a name that would capture people’s imaginations, and ‘podisa’ seemed to fit perfectly – a nod to its resemblance to pizza and its unique appeal. And thus, Podisa was born.”

The Cheppankezhangu (Colacasia) fries also stay true to their original form – an Indian equivalent to the French Fries snack but that which reminds you of your home. 

Reminiscing on the genesis of their menu innovations, Umesh enthusiastically tells us about the items on his menu. “Take, for instance, our latest addition – the Railway chutney. It’s not just a dish; it’s a nostalgic journey, evoking memories of train travels with its spicy, runny chutney atop soft idlies.”

With each dish, the team at House of Idlies aimed to deliver more than just flavours – they aimed to offer comfort and familiarity. “Our Rasam sadham, a lunchtime favorite, is like a warm embrace, it’s the taste of home, the taste of comfort that keeps our customers coming back,” Umesh shared. 

In discussing the predominantly sattvik nature of their menu, Umesh revealed a deeply rooted philosophy. “It’s not about avoiding onion or garlic consciously,” he explained thoughtfully. “Rather, it’s about honoring tradition and simplicity. Our dishes like arisi upma and morkali thrive on the purity of their ingredients, without the need for additional embellishments.”

Reflecting on the evolution of their brand, Umesh’s eyes sparkled with admiration for the innovative concepts they had introduced. “We realized that to truly resonate with our customers, we needed to offer more than just traditional idlies and dosas,” he shared with a sense of pride. “That’s where the idea of verticalizing our brand into three distinct entities – Bowled, Kitchen Stories, and Dunked – was born.”

As he spoke, there was a reverence for the importance of customer convenience and satisfaction. “In today’s fast-paced world, people crave convenience,” Umesh explained thoughtfully. “Whether they’re working from the office or on the go, they want meals that are filling, healthy, and easy to consume.”

He continued, painting a vivid picture of their menu offerings and the inspiration behind them. “Take, for example, our Dunked concept – mini idlies and vadas served with various sides, it’s not just about the flavors; it’s about recreating nostalgic experiences, like enjoying a train journey with spicy chutney atop soft idlies,” Umesh described with enthusiasm.

In recounting their journey, there was a palpable sense of reverence for the past and optimism for the future. “While we may be relatively young in the industry, our experiences have taught us invaluable lessons. With each decision we make, we strive to be more calculated and focused, knowing that our ultimate goal is to delight our customers and leave a lasting impression on their taste buds,” Umesh reflected. 

But House of Idlies isn’t just about food; it’s about community, about giving back, and about empowering those who work tirelessly behind the scenes. “Our team is like family,” Umesh emphasizes. “We prioritize their growth and well-being just as much as we do our customers.”

As Umesh shared the aspirations for expanding House of Idlies beyond Chennai, there was a sense of reverence for the journey they had undertaken. “We envision expanding our brand, much like any other, but with a careful approach. Our recent venture, Dunked, is still in its pilot phase, as we seek to perfect the model before scaling up.”

Talking about their staffing philosophy, Umesh spoke with admiration for the individuals who formed the backbone of their operation. “When it comes to hiring, we have an open-door policy,” he shared with a sense of pride. “Nearly half of our employees are women, many of whom are single mothers, like Kasthuri, our first employee.”

As he spoke of Kasthuri’s dedication and resilience, there was a palpable sense of reverence for her contribution to the House of Idlies family. “Kasthuri joined us to pack our podis at our terrace kitchen, supporting her two daughters as a single mother,” Umesh recounted with admiration. “Her story is just one example of the incredible potential we see in every individual who joins us.”

With each anecdote, Umesh conveyed a deep sense of appreciation for the values that guided their hiring practices. “At House of Idlies, we believe in providing opportunities to those who seek them,” he remarked thoughtfully. “Our employees are not confined to specific roles; rather, they’re empowered to contribute in whatever capacity they excel.”

Our conversation had turned to the inevitable topic of criticism – a shadow that occasionally darkened even the brightest kitchens. “Some find our dishes a tad too spicy for some of our customers. But that’s the beauty of feedback – it’s as diverse as the flavours we serve.” Umesh spoke of the intricacies of maintaining consistency, of the delicate dance that chefs performed each day as they recreated the magic of the previous day’s successes. 

The topic then shifted to the early days, marked by opposition and uncertainty. Umesh deliberated on those initial hurdles with a mixture of reverence and understanding. “Yes, there was opposition, especially from family,” he confided, his voice carrying the weight of past struggles. “We weren’t from a business background. My father, a Vedic purohit, had envisioned a different path for me.”

He recounted the disappointment his father felt when he chose to pursue his own dreams rather than follow the conventional path of secure employment. “At first, there were doubts, but with time, as our vision took shape and our efforts bore fruit, that skepticism transformed into pride.”

Umesh recalled his foray into the world of marketing. “It was during my time with Chinmaya Mission that I felt a calling for something different. I craved a role that would offer both challenge and opportunity for creativity.”

Through his experiences, Umesh found inspiration in the mundane, conceptualizing innovative solutions like the bucket batter, born out of a desire to minimize waste and enhance convenience for consumers.

As he spoke of ideation and the journey from concept to reality, there was a sense of admiration for the resilience and ingenuity that fuelled his entrepreneurial spirit. “Starting something new is no small feat, but sometimes, amidst the chaos of ideas, the simplest solution emerges.”

Amidst the anecdotes and reflections, one question lingered: What was his favorite dish? Umesh’s voice breaks into a warm smile as he answers without hesitation, “Podi idli!”

Here was a man who not only served food but poured his heart and soul into every aspect of his craft. It was a testament to the power of passion and perseverance, a reminder that even in the face of criticism, true greatness shines through. And as House of Idlies continues to thrive, one thing remains certain – their commitment to quality, authenticity, and above all, to the spirit of home-cooked goodness that has captured the hearts of Chennai’s food lovers. 

Those looking to try out their delicious fare can visit their outlet at Bazullah Road in Chennai or check out their website for more information.

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The post Savouring Success: Journey To The ‘House Of Idlies’ appeared first on The Commune.

Stand up India Scheme was launched on 5^th April 2016 to promote entrepreneurship at grassroot level focusing on economic empowerment and job creation. In 2019-20, the Stand Up India scheme was extended for the entire period coinciding with the 15^th Finance Commission period of 2020-25.

On the occasion, Union Finance & Corporate Affairs Minister Nirmala Sitharaman said, “As we commemorate the sixth anniversary of the Stand-Up India Scheme, it is heartening to see that more than 1.33 lakh new job-creators and entrepreneurs have so far been facilitated under this Scheme.”

Minister Sitharaman further said, “More than 1 lakh women promoters have benefitted from this Scheme during its six years of operation. The Government understands the potential these rising entrepreneurs have in driving economic growth through their roles as not just wealth-creators but also job-creators.”

“As more and more beneficiaries from the underserved segments of entrepreneurs are targeted for coverage, we would make significant strides towards building an Atmanirbhar Bharat,” the Finance Minister added.

As India is growing rapidly, hopes, aspirations and expectations of a large group of potential entrepreneurs, particularly women and Scheduled Castes (SCs), Scheduled Tribes (STs), are rising. They want to set up an enterprise of their own to allow themselves to thrive and grow. Such entrepreneurs are spread across country and are bubbling with ideas on what they can do for themselves and their families. The scheme envisages to facilitate the dreams of aspiring SC, ST and women entrepreneurs to reality by supporting their energy and enthusiasm and removing many hurdles from their path.

Achievements of this Scheme as on 21.03.2022 ₹30160 crore has been sanctioned under Stand Up India Scheme to 133,995 accounts upto 21.03.2022 since inception of the Scheme.

(Published from PIB)

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