• The Chai Sip
  • Posts
  • 😝 WickedGud Raises Funds and Tantalizes Taste Buds!

😝 WickedGud Raises Funds and Tantalizes Taste Buds!

Today: WickedGud Raises Funds; We All Make Mistakes; Zomato Faces Potential Upside.

Author

Chai Sip
May 16, 2023

ISSUE #073

☕ Good Morning! Sippers,

WickedGud, the innovative D2C food products brand, has successfully raised Rs 2.25 crore in funding. This round was led by the talented actress, Shilpa Shetty. Previously, WickedGud had received support from prominent investors such as Titan Capital, Mumbai Angels, NB Ventures, Dholakia Ventures, Venture Catalyst, boAt co-founder Aman Gupta, and others.

In today’s Issue 📬 :

  • WickedGud Raises Funds.

  • We All Make Mistakes.

  • Zomato Faces Potential Upside.

SIP WORTHY

WickedGud Raises Funds and Tantalizes Taste Buds!

💡 Unjunking India, One Kitchen at a Time Founded in 2021 by Bhuman Dani, Monish Debnath, and Soumalya Biswas, WickedGud is on a mission to un junk India’s kitchens. They offer a wide range of healthy and indulgent food products made with wholesome ingredients. What sets them apart is their use of innovative steaming and convection air drying (SCAD) technology during the manufacturing process.

🌍 Expanding Into International Markets WickedGud has been making waves in the culinary world, gaining recognition on the grand finale episode of Shark Tank India 2. This exposure has paved the way for their successful expansion into international markets. You can now find WickedGud products in the United Arab Emirates (UAE), Singapore, Mauritius, and Nepal.

🛒 Where to Find WickedGud Products To satisfy your cravings, you can conveniently purchase WickedGud products from various sources. They are available for direct purchase from the WickedGud website. Additionally, you can find their offerings on popular platforms like Amazon, Blinkit, BigBasket, Swiggy Instamart, Zepto, and Flipkart.

📈 Impressive Growth Without Figures While the company has yet to disclose its financials for FY23, WickedGud proudly claims to have achieved remarkable growth of over 300% in the past year. Although they haven’t provided specific figures, it’s clear that their dedication to providing healthy and delicious food options has struck a chord with consumers.

IMPROVEMENT SIP

We All Make Mistakes—So What?

Mistakes are an inherent part of being human. From small blunders to significant errors, they are an unavoidable aspect of our lives. But have you ever wondered why we make mistakes so frequently? The answer lies in the complexity of our psychology and physiology.

Individuals makeup to six mistakes each hour on average, which adds up to more than 40 blunders during a work shift and a startling 80 mistakes every day. While some of these errors go unnoticed or have little ramifications, others might have far-reaching implications.

Correcting mistakes frequently necessitates going backward, spending significant time and money, and sometimes even missing out on chances. However, there are times when the human error can be catastrophic.

Consider surgical procedures, for example. Shockingly, it is estimated that more than 4,000 preventable mistakes occur each year during surgeries in the United States. Surgical errors such as operating on the wrong site or the wrong patient happen approximately 40 times per week in hospitals and clinics nationwide.

Medication errors also pose a significant concern. The U.S. Food and Drug Administration receives over 100,000 reports of medication errors annually. Outpatient clinics witness around 530,000 injury incidents every year due to medication mistakes.

On the roads, drivers’ errors or dangerous choices contribute to approximately 94 percent of motor vehicle crashes, as reported by the National Highway Traffic Safety Administration. Even in aviation, where safety is paramount, human error accounts for around 80 percent of airplane accidents.

So, how can we reduce the occurrence of these errors? The answer lies in developing schedules and routines of accountability. And one method that has proven highly effective is the humble checklist.

Checklists act as a powerful tool in reducing vulnerability to errors. By creating structured processes and ensuring adherence to essential steps, checklists help prevent oversights and serve as a valuable reminder in complex systems.

Implementing checklists in various domains, such as healthcare, aviation, and even everyday tasks, has shown promising results. They help professionals stay organized, minimize the risk of errors, and ensure that critical steps are never missed.

While we cannot eliminate mistakes entirely, we can certainly strive to minimize their impact. Embracing accountability through the use of checklists can be a significant step toward reducing human errors and their consequences.

So, the next time you find yourself making a mistake, remember you are not alone. Mistakes are a part of the human experience. What truly matters is how we learn from them, adapt our processes, and embrace tools like checklists to prevent future errors.

HOT SIP

Zomato Faces Potential Upside, Caution from UBS, and ONDC’s Impact

What’s sipping? ☕ In today’s issue, we delve into the potential future of Zomato’s shares, the cautionary note from UBS, and the impact of the new Open Network for Digital Commerce (ONDC) platform. Let’s dig in!

🚀 Zomato’s Potential Upside, But Caution Ahead According to a recent note by brokerage firm UBS on May 15, Zomato shares may witness more than a 24 percent upside in a year. However, UBS expressed slight caution for existing online food delivery players regarding the newly funded ONDC platform by the government.

While UBS believes that Zomato does not need to worry about people transferring to ONDC right away, it does warn that existing platforms such as Zomato and Swiggy may face pressure to improve discounts or lower commissions. UBS will constantly monitor ONDC’s development. ⚠️

🍔 User Insights: ONDC vs. Swiggy and Zomato When ordering food from ONDC, several users have noted large price disparities when compared to Swiggy and Zomato. A McDonald’s burger, for example, costs less than half as much on ONDC as it does on Swiggy and Zomato. Another user pointed out that the identical pizza was 20% cheaper on ONDC. These findings offer light on ONDC’s potential appeal due to its competitive pricing.

🔍 Understanding ONDC: How Does It Differ from Zomato and Swiggy? Unlike Swiggy and Zomato, ONDC is not a standalone app or platform. It operates as an open-source network connecting sellers, buyers, and logistics players to fulfill orders. ONDC is hosted by seller partners such as Paytm, Magicpin, and PhonePe, acting as the storefront for consumers to place orders for food, groceries, and more.

Once an order is placed, it is forwarded to the respective business, which can fulfill it either independently or through third-party logistics partners like Shadowfax, Dunzo, or Shiprocket. The flexibility of ONDC’s structure provides various options for fulfilling orders. 💡

💰 Impact on Zomato and Swiggy: More Discounts, Reduced Commissions Platform providers like Paytm charge a lower commission compared to Swiggy and Zomato, making orders through ONDC more attractive for restaurants.

While Swiggy and Zomato charge restaurants commissions ranging from 18-25 percent, platform partners charge only 2-6 percent, along with a delivery fee of around Rs 35 when using third-party logistics. This lower commission structure on ONDC could lead to increased pressure on Zomato and Swiggy to offer more discounts and reduce their commissions to remain competitive. 📉

🔎 The Benefits for Restaurants and Consumers Sagar Daryani, Vice President of the National Restaurant Association of India (NRAI), emphasized that restaurants currently struggle to make profits due to high commissions.

With ONDC’s commissions as low as 2-4 percent, Daryani believes that restaurants can benefit from better unit economics, allowing them to pass on savings to consumers in the form of lower prices. This shift has the potential to reshape the dynamics of the food delivery market. 💪

TWEET