Startup
Why the jobs market is cautiously optimistic; EV startups hit the road in 2024
Hello,
Bhavish Aggarwal has donned his Santa hat this Christmas.
AI startup Krutrim is offering a one-time credit worth Rs 10,000 to be used across a period of 12 months on Krutrim’s cloud platform to all faculty members and students of IITs.
Speaking of AI, meet the new AI artist in town—Botto, a “decentralized autonomous artist”.
Botto has produced around 150 images, or “works”, which together have fetched over $5 million via auctions since 2021. Here’s how it works.
Meanwhile, in the face of intense competition from Tesla and Chinese EV makers like BYD, Japanese automobile giants Honda and Nissan are in talks to join hands by 2026.
If finalised, the combined entity would become the world’s third-largest automaker in global sales, trailing behind Toyota and Volkswagen.
ICYMI: Netizens are raging over the popcorn tax. This entrepreneur explains why it’s a bad idea.
Lastly, before the year ends, The Guardian brings us a glimpse into the uncontacted Amazon community—Massaco—flourishing deep in the rainforest despite environmental threats.
In today’s newsletter, we will talk about
- “Cautious optimism” in jobs market
- EV startups hit the road in 2024
- Indian crypto investors bet long-term
Here’s your trivia for today: Which periodic table element is named after Paris?
Review 2024
“Cautious optimism” in jobs market
The hiring landscape in 2024 witnessed a delicate balance between caution and optimism. After the tumultuous cycles of the past few years—defined by over-hiring, mass layoffs, and economic headwinds—this year saw the job market stabilise with a renewed focus on strategic hiring.
“Cautious optimism” is a befitting term to describe the overall mood in hiring in 2024, says Naveen Tiwari, Co-founder of recruitment firm Scrabble. Despite the economic challenges, the overall hiring activity improved this year, he adds
Learnings from 2024:
- Hiring for freshers and entry-level roles surged in 2024, driven by strong demand for skills in AI, cloud computing, and data analytics, led by global capability centres (GCCs) and IT services firms.
- “The 2024 layoff wave was driven by global economic uncertainties, over-hiring during the post-pandemic boom, automation, and startup funding challenges,” notes Krishna Vij, Business Head, TeamLease Digital, adding that geopolitical tensions further disrupted hiring across industries.
- Experts expect hiring activity to be stronger in the coming year on the back of improved funding. “As we enter 2025, India’s job market looks set to broaden its horizons, with a projected 9% growth in hiring,” says Anupama Bhimrajka, Vice President – Marketing, foundit.
Funding Alert
Startup: EPACK Prefab
Amount: $20M
Round: Equity
Startup: Univest
Amount: $10M
Round: Series A
Startup: Mindgrove Technologies
Amount: $8M
Round: Series A
Review 2024
EV startups hit the road in 2024
In 2024, EVs entered the mainstream. According to the national vehicle registry Vahan, 1.8 million EVs were sold this year till November.
However, the year has also been a test drive for many EV companies, with the government rolling back subsidies that had made these vehicles a cost-efficient alternative to ICE (internal combustion engine) vehicles.
Zooming:
- In August, Bhavish Aggarwal-led Ola Electric was listed on the public bourses. At the time of listing, one of the sticky points was profitability. Next year, its competitor, Ather Energy, will also head to the public markets.
- High costs of manufacturing vehicles, thin profit margins, and establishing a charging infrastructure have been key sticking points in EV adoption. Additionally, EV chargers don’t follow a uniform standard, which comes with its own set of problems.
- “The integration of smart charging technologies, including vehicle-to-grid capabilities and energy management systems, is evolving how EV owners interact with the grid. It’s no longer just about more charging points; it’s about making them efficient, accessible, and even powered by renewable energy,” says Akshay Shekhar, CEO and Co-founder of Kazam.
Cryptocurrency
Indian crypto investors bet long-term
More Indian investors are cashing in on cryptocurrencies as a CoinDCX report revealed that 51.5% of investors’ portfolios now consist of Bitcoin and altcoins (cryptocurrencies other than Bitcoin), indicating a shift towards long-term investment strategies.
Gold rush:
- According to the report, altcoins lead with a 34.5% allocation, driven by rising interest in projects like decentralised finance, Layer 2 solutions and decentralised applications.
- The company also saw a 159.65% increase in trading volume, reflecting the rising number of crypto traders in the country amid market momentum. It also reported a 366.67% surge in its assets under management.
- CoinDCX said women from cities like Delhi, Lucknow and Hyderabad now represent 20% of its high-net-worth-individual customers. Among their preferred tokens are Bitcoin, Ethereum, MATIC, and meme coin DOGE.
News & updates
- Obituary: Indian cinema bid its final adieu to filmmaker Shyam Benegal—a pioneering figure in the Indian parallel cinema movement—as he passed away at the age of 90 in Mumbai.
- Profits: Founder Pavel Durov said Telegram is now profitable, and the chat app’s total revenue surpassed $1 billion in 2024. The company now has 12 million paid users, and the app is finishing the year with more than $500 million in cash reserves, without counting its crypto assets.
- Probe: The US government launched a new probe into legacy Chinese semiconductors that may go into everything from cars to household goods and defence systems. The investigation will look into China’s “acts, policies, and practices on the production of silicon carbide substrates or other wafers used as inputs into semiconductor fabrication.”
Which periodic table element is named after Paris?
Answer: Lutetium. It is named after Lutetia, the Latin word for Paris, France.
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Startup
International destinations and spiritual connections shaped India’s travel sector in 2024
Indians’ appetite for travel grew in 2024. The country is also witnessing a shift in travel preferences, with more people opting for offbeat destinations and eco-tourism, as well as a surge in solo and women travelers.
According to the MasterCard Economics Institute’s latest report launched in May 2024, there has been a 21% increase in international travel compared to 2019, with a notable 4% increase in the first quarter of 2024.
Specifically, the number of visitors to the United States increased by 59% compared to 2019 while Japan saw a 53% increase in the number of Indian visitors compared to 2019.
The highest though—at 248%—were Southeast Asia countries. Vietnam has also become one of the main attractions for Indian tourists, according to the report.
“As we approach the year-end holiday season, we’re seeing a fascinating shift in travel preferences. Destinations like Thailand, Vietnam, London, and Bali have emerged as the top picks for international travel this winter witnessing an 80-100% YoY growth in bookings,” Aloke Bajpai, Group CEO,
, told YourStory.“Interestingly, for the first time, Maldives has not featured in the top 10 most-searched destinations for year-end travel, reflecting a growing preference for more varied and immersive vacations over traditional hotspots,” he added.
The Gurugram-based OTA listed platform saw strong growth in flights at +43% YoY GTV (Gross Transaction Value) and buses at +46 %YoY GTV in Q2 FY25 vs Q2 FY24.
“Our Monthly Transacting Users (MTUs) increased by nearly 43% YoY, reaching 3.43 million for the quarter. Flights and buses together now contribute about 60% of our company’s margins,” adds Bajpai.
The travel-tech company made a stellar debut on the exchanges on June 18, 2024, with shares surging 78.2% from its IPO price of Rs 93 per equity share. The IPO, which raised Rs 740 crore was oversubscribed 98.34 times, driven by strong demand from institutional, HNI, and retail investors.
Domestic travel
Bajpai shared that more travellers from Tier II and III cities are choosing international destinations.
“For example, airports like Varanasi, Vijayawada, Rajkot, and Jharsuguda have grown over 50% in passenger segments YoY for us. Additionally, our international flight GTV has grown at an impressive 47%, outpacing domestic flight growth,” he mentions.
Recently at the BOTT Knowledge Conclave: Tourism@2025 in New Delhi, Union Tourism Minister Gajendra Singh Shekhawat discussed India’s significant tourism growth.
Key states like Uttar Pradesh, Maharashtra, Tamil Nadu, Karnataka, and Rajasthan have emerged as top destinations, benefiting from cultural festivals, wildlife tourism, religious pilgrimages, and rural tourism.
Initiatives like the ‘Dekho Apna Desh’ campaign and state-level tourism promotion efforts have played a crucial role in this remarkable growth, further enhancing India’s appeal as a domestic travel destination.
According to the Ministry of Tourism, domestic tourist numbers have seen a remarkable increase of 95.64%. India’s ranking in the global travel and tourism development index (TTDI) has improved from 65 to 39.
A biennial report published by the World Economic Forum, the TTDI measures the factors and policies that enable a country’s travel and tourism sector to develop sustainably and resiliently.
He also mentioned that over Rs 6,800 crore has been invested in destination development, with Rs 3,295.76 crore approved to promote lesser-known tourism sites across states.
“On the domestic front, destinations like Jammu, Srinagar, and Dehradun are seeing a huge spike in bookings, highlighting a growing interest in mountain escapades this year. This contrasts with last year’s trend, where beachside getaways dominated year-end travel plans. The appeal of scenic winter landscapes and the charm of snowfall seem to be drawing more travelers to the mountains this season,” says Bajpai.
According to
data for travel between 16-31s December, Andaman, Kerala, Goa, Himachal and Kashmir saw double-digit growth in bookings for holiday packages for the upcoming year-end holiday season.Seeking spirituality
India’s spiritual destinations are getting popular. According to digital travel platform Agoda, cities such as Bangalore, Hyderabad, and Chennai are leading domestic destinations for spiritual travel during the last quarter of the year.
For inbound travelers, Kochi and Varanasi are among the most popular spiritual destinations.
Both destinations attract international spiritual travelers because of their deep-rooted cultural, historical, and religious significance. Travelers from the USA, Singapore, Japan, and Australia are contributing to the rise in inbound interest, drawn to India’s unique fusion of spirituality and culture during the festive period.
Krishna Rathi, Senior Country Director, India Subcontinent and MEA at Agoda, commented on the growing trend, saying, “The rising interest in spiritual destinations throughout India reflects travellers’ evolving preferences for more enriching and culturally immersive experiences.”
Tech in travel
In 2024, technology is also playing a key role, as travel companies leveraged mobile apps, smart bookings, and real-time travel updates to make travel easier.
“ixigo was the first OTA in India to launch a Generative AI-based travel planning tool named PLAN in 2023 to help travellers plan their trip, get itineraries and real-time information and recommendations based on input criteria,” says Bajpai.
Online travel aggregator,
says it uses AI/ML-based algorithms and a WhatsApp booking bot along with other tools.“Technology has become increasingly central to travel planning and execution, with 84% of Indian travelers now leveraging AI tools for their journey planning. This technological integration extends to sustainable travel practices, with a growing emphasis on carbon offset programs and eco-friendly accommodations, reflecting the industry’s adaptation to environmentally conscious consumer preferences,” added Nishant Pittie CEO and Co-founder of EaseMyTrip.
Startup
10 secrets to instantly look expensive and elegant
Have you ever noticed how some people seem to radiate sophistication and luxury, even in the simplest of outfits? It’s not about designer labels or extravagant spending; it’s about mastering the art of refined style. Looking expensive and elegant is an attainable goal for anyone, and it doesn’t require an overflowing bank account—just a keen eye for details and a few strategic adjustments. In this guide, we’ll uncover 10 secrets that can elevate your appearance instantly. From wardrobe choices to personal grooming, these tips will help you channel timeless elegance and leave a lasting impression wherever you go.
10 tips to look expensive and elegant
1. Invest in tailored pieces
Ill-fitting clothes can ruin even the most stylish outfit. Tailored clothing, on the other hand, enhances your natural shape, making you look polished and put together. Tailoring ensures that your clothes fit your body perfectly, making even inexpensive items appear high-end.
Take your favourite pieces—blazers, trousers, or dresses—to a local tailor. Minor adjustments like hemming, taking in the waist, or shortening sleeves can dramatically improve the fit.
2. Stick to neutral colors
Neutral tones such as black, white, beige, navy, and grey have a timeless quality that exudes sophistication. These colours are easy to mix and match, creating a cohesive and expensive-looking wardrobe. They’re versatile, understated, and flattering for all skin tones.
Build a capsule wardrobe with neutral-coloured staples, such as a white button-up shirt, beige trousers, and a black blazer. Use accessories like scarves or jewellery to add personality.
3. Opt for quality fabrics
The texture and weight of fabrics can make or break your outfit. High-quality materials like silk, wool, cashmere, and linen have a luxurious look and feel. Look for fabrics that drape well, feel soft to the touch, and have minimal sheen unless intentional, like in silk. Avoid shiny, thin, or overly synthetic materials.
Thrift stores and discount outlets often carry high-quality fabrics at a fraction of the original price.
4. Master the art of minimal accessories
Overloading on jewellery or accessories can make your outfit look cluttered. Less is more when aiming for an elegant appearance. A classic wristwatch, pearl or diamond stud earrings, and a simple gold or silver necklace.
Stick to one or two statement pieces at a time. For example, if you’re wearing bold earrings, skip the necklace or keep it minimal.
5. Maintain a polished grooming routine
Elegance isn’t just about clothes—it’s also about grooming. A polished appearance instantly elevates your overall look.
Keep your hairstyle neat and well-maintained. Regular trims and a sleek blow-dry can make a big difference. Prioritise skincare to achieve a healthy, radiant complexion. A good skincare routine can make you glow without heavy makeup. Keep nails clean, well-shaped, and polished in neutral or classic shades like nude, red, or French tips.
6. Choose structured bags
A bag can make or break your outfit. Structured handbags with clean lines and minimal embellishments look more expensive than slouchy or overly trendy designs. Go for bags made from genuine leather or high-quality faux leather in neutral shades like black, beige, or tan.
Brands like Celine, Michael Kors, and Coach offer timeless designs. If these are out of budget, look for high-quality dupes that mimic these styles.
7. Wear well-fitting and clean shoes
Shoes are a crucial part of your outfit. Scuffed, dirty, or ill-fitting shoes can ruin an otherwise polished look. Opt for classic designs like leather pumps, loafers, or ankle boots.
Use a shoe polish kit to keep leather shoes looking new, and replace worn-out soles when needed.
8. Master monochromatic dressing
Monochromatic outfits—dressing in one colour or various shades of the same colour—create a sleek, cohesive look. This style elongates your silhouette and gives the impression of a curated wardrobe.
Pair a beige sweater with cream trousers and nude heels, or create an all-black look with different textures like leather and wool.
9. Add a statement coat
Outerwear is often the first thing people notice, especially in cooler months. A high-quality, tailored coat can instantly elevate your appearance. Choose classic silhouettes like trench coats, wool coats, or pea coats in neutral colours.
Look for second-hand designer coats at consignment stores or online resale platforms like Vestiaire Collective.
10. Confidence is the ultimate luxury
No matter how perfectly you dress, elegance comes from within. Confidence is the ultimate accessory that ties your entire look together.
Stand tall with your shoulders back—it conveys poise and self-assurance. A genuine smile is an instant mood booster and makes you appear approachable and confident. Wear your outfit with pride, knowing you’ve made intentional choices that align with your style.
Elegance isn’t about wealth—it’s about effort, mindfulness, and intentional choices. By focusing on tailored clothing, neutral tones, quality fabrics, and polished grooming, you can create a timeless and expensive look. Combine these elements with structured accessories, clean shoes, and a confident attitude, and you’ll master the art of looking expensive without spending a fortune. Remember, true elegance is about presenting yourself with care and confidence—it’s a style choice that never goes out of fashion.
Startup
Gym at home: Hyderabad fitness tech startup Portl launches strength training device
New Year is just around the corner and with it, resolutions to get fit. However, as many would attest, staying consistent with workouts—especially if they involve hitting the gym to lift weights—is tough.
Hyderabad-based fitness and wellness startup
leverages AI to help users stay on track of their fitness goals. On December 19, the company launched Portl UltraGym—which it says, is an all-in-one portable training system designed to make strength training more accessible at home.The machine, priced at Rs 59,990, uses digital weights technology and provides the same effect as a professional grade gear, in a compact design of 2.4 square feet.
The product operates on Hydraulic and Electromagnetic Resistance (H.E.R.S) Technology, and the adjustable digital weights start from 0.5 kg and go up to 70 kg, customisable per user’s requirement.
While the plug-and-play device does not require an application to function, there is an additional companion app which allows people watch demo videos and walkthroughs for over 150 exercises to help them understand form, technique, and accessories.
The package also includes a sleek barbell, hand straps, ankle straps, and a hip belt.
The device comes with a safety feature to prevent injuries.
“There is an automatic inbuilt safety feature that relies on a lot of machine learning to determine the difference between, struggling to complete a rep and, inability to complete that rep,” Co-founder Indraneel Gupta says.
UltraGym can also be integrated and used with Portl Studio, the company’s flagship smart mirror. The company sees its product entering the gyms and hotels as part of their premium service.
Discussing the challenges faced while building UltraGym, Gupta says, “Solving for the portability and compact form factor while facilitating full-body strength training and range of motion was one of the main focus areas in the design phase. This ultimately dictated the overall internal architecture and mechanisms that are currently used within the UltraGym.”
Portl says it has collectively completed over 20,000 hours of workouts from users across the globe and plans to double its user base in a year.
The first steps
Portl was founded in 2021 by Gupta, Vishal Chandapeta, and Armaan Kandhari.
With the startup, the founders wanted to solve key challenges that fitness enthusiasts face: finding the right trainer as well as space and time to exercise.
“We wanted to bring all these solutions packaged into something that is extremely interactive in nature, to people’s homes, and that’s where the Genesis of Portl began,” Gupta tells YourStory.
Priced at Rs 1.25 Lakh, Portl Studio, is a smart mirror with a 43-inch 4K screen, HD cameras, embedded bio-sensors, edge-AI processing, Bluetooth and Wi-Fi connectivity. The product also offers users real-time posture analysis and feedback, and health monitoring.
Catering to both B2B and B2C segments, the company’s revenue comes from direct customers, the additional services with subscription plans, and gyms and luxury hotels.
The journey of building a fitness tech startup, however, was not without challenges. From sourcing components and creating early prototypes to finalising hardware design and refining UI/UX and the Software platforms for seamless integration the company encountered various obstacles.
With a product that uses hardware, software and content, operating with limited resources was challenging in the initial phase, says Gupta.
How does the smart mirror work?
After the smart mirror is installed, the user enters their data such as height, weight, age, existing health issues if any and other fitness requirements which is then used to recommend potential fitness routines.
“It (the data) also informs our systems what not to prescribe to an individual so that we do not aggravate underlying conditions,” says Gupta.
The sessions include HIIT, self-defence, yoga, dance fitness, cardio, meditation and pain management among others. And with AI-form feedback, the sensors track the user’s movements and provide step-by-step guidance.
He adds that while direct customers get personalised recommendations, hotels can avail customisations based on requirements of the services they offer to their clients such as spa services.
Blueprint for expansion
In May this year, the company had secured $3 million in a funding round led by Bharat Innovation Fund, and saw participation from existing investor Kalaari Capital, and new investor T-Hub Foundation.
The team currently has 35 members on board. It began selling Portl Studio in July 2022.
Its latest launch UltraGym will also be available soon on Amazon and few other ecommerce channels, the co-founder says.
The company says it is seeing traction for its smart mirror from Tier I cities like Mumbai, Hyderabad, Delhi and Bangalore, and some Tier II cities.
“We’ve designed the UltraGym with a keen eye on the Indian market. However, we have also witnessed substantial interest for this from UAE and surrounding regions in the Middle East,” says Gupta.
The company plans a further expansion in the Middle East, targeting markets such as Qatar, UAE, and Saudi Arabia over the next 12 to 18 months. It is also collaborating with hospitality brands, including the Taj Group of Hotels (IHCL), Accor Group, aiming to provide on-demand wellness solutions for premium travelers.
Hyper-personalisation as the way ahead
For home users, each device can be used by six members, with six unique profiles.
“The profiles are enabled by the primary user and this primary user essentially invites these unique members to their account. These are accessed via 2-FA (Two-factor authentication) authentication of each user using their mobile for OTP verification, and the registered email,” says Gupta.
Portl also has subscription plans of Rs 750 per month per device with which users can avail live and group sessions. They also have additional services such as nutrition, mental health, and wellbeing packages based on customer requirements, which they can choose to purchase.
Speaking about data storage and safety, Gupta says, “We employ multilayered approaches to safeguard all user information, with state-of-the-art encryptions security protocols that protect data at both transit and storage level… the AI systems are built with privacy at their core and it anonymises the data.”
Users can request the deletion of their data at any given time on the system, he adds.
Manufacturing, sales and the market
While the first few batches of Portl Studio were manufactured in-house based on pre-orders, the company expanded by hiring contractors which allowed it to focus more on the tech aspects. However, the core components and assembly of most crucial parts still happens in-house, says Gupta.
“The UltraGym has been conceptualised, designed and developed in-house. The manufacturing is being performed by our vendors in India and overseas,” he adds.
According to market research firm Fortune Business Insights, the global home fitness equipment market size was valued at $11.60 billion in 2023. It is projected to grow from $12.10 billion in 2024 to 18.94 billion by 2032 with a CAGR of 5.8%.
While the company refused to disclose its revenue and the number of units sold, it has a total of approximately 800-900 manufactured products. It now looks to scale capacity to 1,000 per quarter to meet growing demand, he adds.
According to data company Tracxn, Portl competes with New York City-based Peloton, and San Francisco-based Tonal and Tempo.
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