Startup
India SaaS to transition to IndAI SaaS: Bessemer Venture Partners report
Around 60% of pure SaaS (software-as-a-service) companies are now transitioning into AI-enabled SaaS providers, according to the latest report by global VC firm Bessemer Venture Partners.
The venture capital firm’s flagship report, titled “The Rise of SaaS in India 2024,” outlined key predictions and trends in the SaaS market.
With more than half of companies identifying themselves as AI-enabled SaaS and 34% as native SaaS, the lines between traditional SaaS and AI-enabled software are blurring rapidly, the report said. Survey findings further revealed this transition is driven by the increasing demand for more advanced, intelligent solutions that enhance business operations and customer experiences.
“SaaS in India is transitioning to what we call IndAI SaaS. We did a survey of companies and 90% plus of them said that in the last 12 months, they have launched at least one feature using generative AI,” Anant Vidur Puri, Partner at Bessemer Venture Partners told YourStory.
“AI is the next step of software. It’s just a logical next progression. You can’t take AI out of software—it is a part of it. Hence, SaaS by itself is just software as a service. I think every SaaS company will have to figure out whether it has to be AI-native, AI-enabled, one of those two..because that’s where the world is going and your customers are going to demand that,” Puri added.
The report mainly analysed the Indian SaaS market, emphasising growth driven by rapid AI adoption, increased focus on cybersecurity, and expanding cloud usage in the BFSI and manufacturing sectors.
Moreover, the Indian startup ecosystem is set to attract $1 billion in new venture funding in 2024, a 25% increase from 2023. A significant portion of this investment is expected to target AI-focused companies with massive growth potential. In 2023 alone, Indian SaaS unicorns and centaurs collectively generated $5.9 billion in revenue.
India’s SaaS market is expected to reach $50 billion by 2030, with the possibility of exceeding this forecast due to rapid AI advancements and their integration into SaaS offerings.
“If you are a software founder today and you have to be thinking about what does AI mean for my roadmap.. in terms of a feature that my customers may want, in view of a development philosophy that my team should be using, one of those two things, at least, if not both, will need to happen,” Puri explained.
Findings revealed around 92% of early-stage software startups in India have adopted AI features by integrating machine learning, natural language processing, and analytics into their SaaS platforms, making software intuitive and capable of automating complex tasks.
India, a leader in the global services sector, is set to strengthen its position in the professional services market due to AI. Currently holding 19% of the $400 billion industry, the country is expected to grow to 28% by 2030. Bessemer attributed this growth to the increasing adoption of AI technologies.
The report further said that India’s cybersecurity sector is expected to serve both domestic and global markets.
The domestic cybersecurity market hit $6 billion in 2023, fueled by an expanding talent pool and rising investments. In addition, cyber insurance is projected to grow at 50% annually over the next five years, reaching approximately $800 million by 2030.
The study highlighted the nation’s wealth management landscape transforming due to the growth in demat accounts and assets under management (AUM). In 2023, total demat accounts hit 114 million, with AUM totalling $405 billion. Growing wealth and the financialisation of assets are also driving demand for advanced, tech-enabled wealth management solutions.
Meanwhile, the industrial sector is swiftly adopting AI and cloud technologies, spurred by manufacturing growth and global ESG regulations. Starting in 2024, over 60,000 businesses will be required to publish ESG reports, with this number expected to rise by 50% in the next 3-4 years.
The shift to cloud-based industrial SaaS solutions has supported real-time data analytics, predictive maintenance, and improved supply chain management, essential for boosting productivity and sustainability in industrial operations.
“There were 50 new companies which grew into the $5 -$10 million revenue range in the last 12 months. These two things combined is something that as an investor, I feel really excited about in software… There are a lot of companies which are growing and a lot of companies which are crossing that hundred million dollar range of revenues. So long-term—taking an eight to 10-year horizon, we are really positive on the Indian software story,” Puri said.
Startup
Workplace boundaries: 5 things not to share with coworkers
In today’s workplace, building relationships and open communication are highly encouraged. A collaborative environment can foster trust, creativity, and productivity among colleagues. However, there is a fine line between being friendly and sharing too much. Revealing certain personal information to your coworkers can blur professional boundaries and even affect your career negatively. In a world where first impressions and professionalism matter, knowing what to keep private is crucial to maintaining respect and credibility.
This guide highlights five essential things you should never share with colleagues. From sensitive financial details to personal beliefs, these are boundaries that every professional should respect for the sake of both personal privacy and workplace harmony.
1. Financial information
Discussing your financial situation at work—whether it’s your salary, debts, or even that new loan you’ve taken out—can lead to misunderstandings, envy, or resentment. Salary disparities, in particular, are a sensitive topic and can create friction in the workplace if colleagues perceive unfairness. Moreover, sharing details about your finances could unintentionally set you up for gossip or judgment from others, which could alter their view of your professionalism. If you’re asked directly, a polite but firm response, such as “I prefer not to discuss personal finances,” can help maintain boundaries.
2. Political and religious beliefs
In an era of heightened political polarisation and strong opinions on various social issues, discussing your political or religious beliefs at work can be risky. Even casual remarks can lead to disagreements and, in worst cases, workplace conflicts. This doesn’t mean you should hide your identity, but it’s wise to avoid diving into discussions that might alienate or offend others. Maintaining a neutral stance on sensitive topics can help create a respectful, inclusive work environment.
3. Personal health issues
Your health is deeply personal, and sharing too much about any physical or mental health challenges can lead to unintended consequences. While close friends may share personal health information, colleagues don’t need to know the specifics of your medical history. Revealing health information might result in unwanted sympathy, awkwardness, or even doubt about your ability to perform your job effectively.
4. Negative opinions about colleagues or management
It might feel cathartic to vent about a difficult coworker or a strict manager, but sharing these thoughts with other colleagues can easily backfire. Not only can it damage your reputation, but it could also harm your professional relationships if your words get back to the person in question. Criticising team members or managers can make you seem untrustworthy or negative, both of which can hinder your career progression. Maintaining a neutral or positive stance will reflect professionalism and emotional maturity.
5. Ambitions for a new job or career move
Sharing your plans to apply for a new job or change careers might seem harmless, but it could shift how your colleagues or managers view your commitment. If your supervisor learns that you’re planning to leave, it could lead to fewer opportunities or even less favourable treatment as they prepare for your departure. To protect your current position, focus on your work, and wait to share the news until you’re ready to make a formal exit.
Conclusion
In a professional setting, boundaries are essential for a healthy work environment. While sharing parts of your personal life can help build connections, knowing where to draw the line is equally important. By keeping your financial matters, health concerns, personal beliefs, and career ambitions private, you’ll be better able to maintain a positive reputation, foster respectful relationships, and ultimately advance your career without unnecessary complications.
Remember, in the workplace, less can often be more. Protect your privacy, and you’ll find it easier to focus on what truly matters—your professional growth and contributions.
Startup
Taming the restless ‘Monkey Mind’: 6 signs and calming tips
Do you ever feel as if your thoughts are racing, jumping from one idea to the next without pause? This restless state of mind, commonly known as the “monkey mind,” can leave you feeling overwhelmed, distracted, and unable to focus. Imagine a monkey swinging from branch to branch—never still, always moving. The monkey mind does something similar, dragging your attention in multiple directions at once. In a world filled with constant notifications, endless tasks, and overstimulation, it’s no wonder our minds are often buzzing with a mix of unfinished thoughts, worries, and ideas.
Recognising and managing a monkey mind can be a game-changer for mental clarity, productivity, and peace. In this article, we’ll dive into six telltale signs of a monkey mind and explore proven strategies to calm it down and regain focus.
6 Telltale signs of a monkey mind
1. Constant overthinking
A classic sign of a monkey mind is constant overthinking. You may find yourself analysing every detail, reliving past conversations, or stressing over hypothetical situations that may never happen. This mental loop can keep you from moving forward or making decisions, trapping you in a cycle of what-ifs.
Try to channel overthinking into action by setting a time limit for worrying or planning, and then move on. Journaling can also help you process your thoughts and release them from your mind. Practicing mindfulness by focusing on what you’re doing right now can redirect your attention away from endless what-ifs.
2. Difficulty focusing on a task
If you find yourself switching tasks frequently, unable to concentrate on one thing for long, it’s a clear sign your mind may be restless. The monkey mind is easily distracted, often drawn to anything that promises novelty or instant gratification.
Implementing techniques like the Pomodoro Method—where you work for 25 minutes and then take a 5-minute break—can improve focus. Create a designated workspace, eliminate distractions, and try using noise-cancelling headphones or listening to concentration-friendly music to help you stay on task.
3. Procrastination and avoidance
A monkey mind often leads to procrastination, especially when faced with big or daunting tasks. The mind can become overwhelmed by the task’s complexity, prompting you to avoid it entirely and instead focus on smaller, less important activities.
Break tasks into smaller, manageable steps to make them feel less overwhelming. Set a specific goal for each work session, even if it’s just to complete a small portion. Reward yourself for each accomplishment, no matter how small, to keep your momentum going.
4. Heightened anxiety or stress
With the mind constantly jumping from one thought to another, stress and anxiety levels can increase. A monkey mind often dwells on worst-case scenarios and hypothetical fears, causing a continuous cycle of worry and tension.
Incorporate regular deep-breathing exercises or meditation into your day. Slow, mindful breathing can help activate the body’s relaxation response, lowering stress levels and bringing a sense of calm. For some, a quick physical reset—such as stretching or walking—can break the anxiety loop and help you feel grounded.
5. Trouble sleeping
If your mind feels like it’s in overdrive at night, it could be because of a monkey mind. Endless thoughts and worries can make it hard to fall asleep or stay asleep, leaving you feeling exhausted the next day.
Establish a calming bedtime routine to signal your mind and body that it’s time to wind down. Avoid screens at least an hour before bed, and consider listening to a guided meditation or calming sounds to lull your mind into relaxation mode. Journaling before bed can also help you clear your mind by putting your thoughts on paper.
6. Feeling constantly distracted
A monkey’s mind craves stimulation and often finds it challenging to stay present. You may find yourself constantly checking your phone, seeking out new content, or even daydreaming when you should be focused on a task at hand.
Practice “mindful breaks” during your day—short intervals where you put down your devices, observe your surroundings and ground yourself in the present. Limiting the number of things you try to multitask can help, too. Start by giving your full attention to one task, and slowly build your focus endurance from there.
Conclusion
Our minds are naturally curious, and having occasional restless thoughts is normal. However, when the monkey mind takes over, it can disrupt our peace, productivity, and well-being. Recognising the signs of a monkey mind and incorporating calming strategies—like mindfulness, structured work sessions, and relaxation techniques—can help you regain control over your mental landscape. The next time you find your mind swinging wildly, try one of these calming techniques to bring yourself back to a state of balance and clarity.
By making mindfulness a habit and addressing the monkey mind head-on, you’ll be able to cultivate a deeper sense of peace, focus, and contentment in your daily life.
Startup
Swiggy IPO gets oversubscribed led by QIB bids
Foodtech giant Swiggy IPO was oversubscribed 1.07 times by Friday afternoon, the third day of its book-building process.
Qualified Institutional buyers (QIBs), which typically invest on the last day to gauge overall market demand, came through for the company’s IPO, with the portion oversubscribed 1.52 times.
According to the BSE, non-institutional investors(NIIS) made bids for 22% of the allocated issue size, while retail investors subscribed to 97% of the portion.
The Sriharsha Majety-led company saw the quota reserved for employees being subscribed 1.38 times.
On the first and second days of the book-building process, Swiggy IPO was subscribed only 35% and 12%, respectively.
Swiggy has secured nearly Rs 5,085 crore (about $605 million) from anchor investors, including the life insurance and mutual fund divisions of HDFC, ICICI, and SBI. The anchor book attracted participation from over 75 major domestic mutual funds, along with international investors such as Astrone Capital, Fidelity, and BlackRock.
The Bengaluru-headquartered company, which competes with publicly listed Zomato and General Catalyst-backed Zepto, has set its IPO price band at Rs 371 – Rs 390 per equity share.
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