Startup
This Alappuzha startup has a crisp plan with its banana chips
Banana chips are truly an emotion for people in South India. Now imagine getting so hooked on the food item that you quit your corporate job to make it into a profitable business. That’s the story of Manas Madhu and Beyond Snack.
A resident of Kerala, Madhu wanted to bring Kerala’s staple snack—crispy kaay upperi, popularly banana chips—to the world. He aimed to standardise the production process to ensure consistency in taste, texture, and thickness.
In 2015, he quit his job as a senior consultant at Capgemini, shifted to Kerala, and studied the industry. “Currently, banana chips are seen as one of the fried chips, unlike potato chips, which is a category in itself. We plan to build in India for the globe,” Madhu, Co-founder and Managing Director of Beyond Snack, tells YourStory.
He, along with Jyoti Rajguru and Gautam Raghuraman, started the Alappuzha startup in 2020, which makes banana chips in a blend of flavours—original (salted), peri peri, salt and black pepper, sour cream onion and parsley, desi masala, and hot and sweet chilli.
With an eye on sharing the shelves with the likes of Lay’s and Bingo, Beyond Snack makes six varieties of chips, including the recently launched coconut oil-based banana chips and waves.
Madhu wants his customers to have the same experience each time they try Beyond Snack’s chips. To achieve this, the company has standardised the manufacturing process.
With 95% of the process fully automated at its Tumkur facility at India Food Park, the startup’s production capacity has increased to 6.6 metric tonnes (MT) per month compared to 2-2.5 MT earlier. It aims to increase to 600 MT by 2027.
Sourcing the right ingredients
Consistency and quality play a major role in Beyond Snack’s operations, and it has partnered with 220 farmer groups in Kerala, Tamil Nadu, and Karnataka to procure high-quality ripe bananas.
At the facility, the bananas undergo a quality check, and the team selects only the Grade-1 crop—bananas that have reached proper maturity, which helps maintain the chip’s crunch and taste.
Madhu draws a comparison between Beyond Snack chips and the ones found locally saying the latter uses unhealthy oil, reused over and over again. The startup’s R&D team worked with various oil manufacturers to get the right kind of oil best suited for the cooking process of banana chips.
“Refined coconut oil can withstand higher temperatures, making it suitable for the frying of banana chips,” he explains. The startup offers six flavours, combo packs of 3X100 gms on its website, priced between Rs 199 and Rs 240. It sells single packets of 75 gms, priced at Rs 60, on ecommerce sites including Swiggy and Zepto.
“It takes time and effort to develop the flavours, and this brings excitement among customers… We want to make banana chips cool,” the CEO says.
The typical cream and onion flavour is not suitable for bananas, due to its slightly sweet taste. However, Beyond Snack adds more sourness to the flavour and creates a special blend that “works by complementing the taste of bananas.” Even the spicy peri peri flavour is “more tangier than the normal peri peri flavour.”
Business operations
The startup started its offline retail in Bengaluru and expanded to some regions in Kerala in January 2020. However, as the pandemic struck, Beyond Snack shifted to an online retail model and started seeing increased sales.
Since then, it has slowly expanded its offline presence across India—from 20-25 distributors to now 125 distributors across Maharashtra, Gujarat, Uttar Pradesh, West Bengal, Delhi, Punjab, and Bengaluru and Hyderabad in the south.
Beyond Snack sees its highest traction from Maharashtra, followed by Delhi, Uttar Pradesh, and West Bengal.
It also exports to 15 countries, including the US, UK, Mauritius, Singapore, Canada, Australia, New Zealand, Qatar, Kuwait, Sweden, Dubai, Thailand, and Malaysia.
In FY24, the company clocked a revenue of Rs 34 crore, almost double from about 17 crore in FY23. It projects Rs 100 crore in revenue for FY25.
While it briefly touched profitability, the company is currently spending more on acquiring customers and ensuring its presence, aiming to be profitable by 2026.
According to data company Tracxn, Beyond Snack competes with Truly Kerala, Crizpo, and EnChipsu.
In July 2023, it raised $3.5 million in a seed round from NABVENTURES and has raised a total of $5.98 million in funding over six rounds, Tracxn data shows. It plans to raise more funds in a year.
Workforce and challenges
Beyond Snack employs a total of 220 people, of which 52 are permanent employees and the rest are on a contract.
Madhu wanted to be run entirely by a women workforce, however, challenges with the mechanical aspect of the production have deemed it to have a team of about 80% women.
“We have 11 women as shadows of the male workers in these areas so that by 2026, we can achieve a 100% women-run facility,” he adds.
The company also faced challenges with standardisation across products. “The banana chips out there are sometimes soggy, hard, or give a foul aftertaste… It took us almost eight months to standardise the product,” he says.
Being in an impulse buying category, in the next five years, the company aims to become a global brand like Lay’s and reach a Rs 5,000 crore revenue.
“Banana chips are seen as a subset of namkeens. The category needs restructuring, and we want to take it out of the namkeens and create an independent category for it,” Madhu says.
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.
Startup
OpenAI spent $10 million on this domain: Here’s why!
Have you checked out X (formerly Twitter) lately? If you have, you might have come across an intriguing post by Sam Altman featuring a mysterious URL called “Chat.com”, with no caption. Curious? When you click on it, you’re taken straight to OpenAI’s groundbreaking tool, ChatGPT.
OpenAI has made headlines recently with a jaw-dropping move: they reportedly shelled out over $10 million for this domain! At first glance, this looks like a steep price tag in an era where many brands are trimming their budgets to stay lean.
So, what’s the story behind this hefty domain purchase? Let’s take a closer look at this!
Why OpenAI spent millions of dollars on a domain
This strategic move is driven by OpenAI’s mission to establish itself as a dominant force in the realm of AI-powered tools, particularly through its flagship product, ChatGPT.
In the tech world where innovation reigns supreme, securing a domain that perfectly aligns with the branding and functionality of its most popular service is a given. Today, ChatGPT has rapidly become a go-to AI tool used by millions for generating images, answering questions and offering assistance with content creation and even programming.
So, OpenAI’s purchase of chat.com is not just about owning a cool web address—it’s a calculated move to enhance its digital identity and ensure that the ChatGPT experience remains tied to its brand as it expands its offerings.
The bigger picture: OpenAI and HubSpot
In a surprising turn of events, the tech world is buzzing over OpenAI’s recent million-dollar domain acquisition, leaving many to wonder about its intriguing backstory. The domain in question, chat.com, has quite the history—it was initially registered way back in September 1996.
Fast forward to 2023, and it found a new owner in Dharmesh Shah, the co-founder and CTO of the widely popular CRM platform HubSpot, who purchased it for a staggering $15.5 million! But the plot thickens!
Just a few months later, in March, Dharmesh dropped a bombshell: he sold chat.com to an anonymous buyer for an undisclosed sum, which has now been confirmed to be OpenAI. While Sam Altman has remained tight-lipped about the specifics of the acquisition, reports from The Verge suggest that Dharmesh may have pocketed more than $15 million from the sale.
This hefty investment in chat.com is more than just a flashy purchase; it’s part of OpenAI’s strategic vision. Owning a domain that’s not only memorable but also inspires trust is crucial for establishing credibility and attracting customers in this competitive landscape.
Chat.com is now ChatGPT’s new destination
Spending more than $10 million on a domain might seem extravagant, but for OpenAI, this investment is a strategic move aimed at building a more unified, and recognisable brand. With chat.com, the company positions itself at the centre of the rapidly growing AI-powered market. As OpenAI continues to innovate, this domain acquisition will likely prove to be one of the company’s most crucial investments in securing its place at the top of the AI industry.
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