In conversation with Vittal Ramakrishna, Founder and CEO, POD World
In this rapidly evolving entrepreneurial landscape, traditional fundraising methods have undergone a remarkable shift. Entrepreneurs seeking funding now have access to a vast array of investors and funding opportunities that transcend geographical barriers and industry boundaries. This revolution is spearheaded by the pioneering work of POD World, a trailblazing tech-driven fundraising platform that is revolutionizing the way startups and established businesses connect with investors.
In our exclusive interview, we delve into the core principles that underpin POD World’s success, exploring how this cutting-edge platform harnesses technology to streamline the fundraising process, empower entrepreneurs, and offer investors unparalleled opportunities to be part of groundbreaking ventures.
AR- With what mission and objectives was your company set up?
Vittal- The inception of POD was driven by the experience of the founders, Vittal Ramakrishna and Neelendra Nath, who were looking to invest in early-stage startups in India and elsewhere. While in the Western markets, Equity Investment in Startups is quite mature and relatively easier for retail investors, investment through the private placement process was a cumbersome practice in India. This understanding, coupled with the growing internet penetration and interest of retail investors to look beyond conventional financial investment opportunities motivated the founding of POD.
AR- Can you elaborate on how POD is disrupting the industry and differentiating itself from other fundraising platforms available in the market?
Vittal- POD is set to disrupt the industry by harnessing the potential of both ends of the ecosystem – entrepreneurs and retail investors. Here are a few factors that positively impact the market through POD’s offerings:
Access to Funding: A few years prior, startups had to rely on personal savings, family and friends, or traditional funding sources such as venture capitalists or banks. However, POD is changing the game by giving entrepreneurs access to a wider pool of investors and funding opportunities, and most importantly, a tech-first fundraising platform.
Democratizing Fundraising: The fabric of POD is weaved on democratizing investments by allowing anyone to invest in startups, not just accredited investors. This means that startups can get funding from a larger and more diverse group of people, and investors can invest in startups with smaller amounts of capital and affordable ticket sizes.
Efficiency: With POD’s platform, founders can easily create a profile and pitch their ideas to potential investors, while investors can quickly browse through a multitude of startups and invest in the ones that interest them. Furthermore, POD has made the funding process more efficient by reducing the time associated with fundraising. For instance, startups listed on the platform can complete the entire process of raising funds in just three weeks.
Tech-first Approach: POD is driving innovation in the way startups are getting funded. The team is now focused on building a full-stack platform for fundraising starting with a One-Pager tool where founders can easily create, design and share their one-page pitches with potential investors.
Transparency: Owing to the functionality of the user-friendly dashboard on POD, investors get a clear picture of the progress of startups they have invested in. This includes financial data, business plans, and progress reports through a live dashboard, which empowers investors to make more informed investment decisions. Thus making the entire process of fundraising more transparent and trustworthy.
AR- How is your company helping customers deliver relevant business outcomes through the adoption of your technology innovations? Can you provide specific examples or case studies?
Vittal- Early-stage startup founders from any sector can scale their businesses by raising funds through POD’s platform. The platform is intuitive and easy to navigate. There is also an option to create and download a One-Pager Pitch that the startups can use during investor pitches. The tech-team, spearheaded by Co-founder Neelendra Nath, is in the process of building more such tools.
Startups like Parkmate, Nanoclean, Dectorocel, and Karrynow have successfully raised funds on POD and are keen to come back for future rounds as well.
In addition to this, POD provides retail investors with all the necessary information about how their money is being used by startups through a live dashboard, ensuring that investors feel comfortable and confident investing their money.
On podworld.in the entire process of fundraising and investment is transparent – thus empowering the startup ecosystem on both ends of the spectrum.
AR- How do you ensure that your company remains adaptable and responsive to changing market trends and customer needs? Can you discuss any instances where you had to pivot or adjust your strategy to stay ahead in the market?
Vittal- POD has an internal team that stays ahead of industry trends and regulatory compliance. Moreover, the founders themselves are renowned industry experts in their respective domains, equipped with invaluable entrepreneurial and exit experiences. Drawing from their personal pain points and expertise, they serve as guiding forces in identifying and addressing the specific challenges faced by early-stage startup founders who engage with the platform.
Initially, POD was conceptualized to serve as a fundraising platform alone. However, there were other areas that the founders needed frameworks to work with. Identifying this need, the one-pager feature was introduced which now empowers startup founders to capture crucial business information and effortlessly share it with potential investors. POD is now in the process of building a full-fledged SaaS tool to further streamline and enhance the one-pager offering. Furthermore, POD’s future endeavors include building an all-inclusive fundraising stack to fuel entrepreneurial success.
AR- How do you measure the success and impact of your investments in startups? Are there any specific metrics or indicators that you track to evaluate the effectiveness of your support?
Vittal- POD serves as a fundraising platform connecting early-stage startups with potential investors.
Once a startup successfully closes its campaign, the investors can get timely updates about the progress of the startups they have invested in through POD’s live dashboard.
POD spends a considerable amount of time vetting startups before onboarding them on the platform but stays clear of tracking their progress post-fundraise.
AR- How do you stay connected with the startup ecosystem and industry trends? Are there any partnerships or collaborations that your company actively seeks to foster innovation and stay ahead of the curve?
Vittal- POD has nurtured and strengthened partnerships with several ecosystem enablers and change-makers to stay ahead of the curve and track industry trends. Deshpande Foundation, PadUp Ventures, India Accelerator, Tie Bangalore, and 91springboard are some of POD’s prominent ecosystem partners among others.
AR- Can you discuss any challenges or obstacles that your company has faced in its journey so far? How did you overcome them, and what lessons did you learn from those experiences?
Vittal- Some of the key challenges our company has faced in our journey so far are understanding the regulatory landscape, building trust, and finding talent. These three aspects have posed significant obstacles, but we have learned valuable lessons and found ways to overcome them.
Understanding the regulatory landscape has been a complex task. As our company operates in a regulated industry, we needed to understand and adhere to various legal and compliance requirements even before starting to operate. Though it was challenging, we are proud that we have designed a system that is compliant and within the regulatory framework completely.
Building trust has been another significant challenge. As a relatively new player in the market, we had to earn the trust of customers, partners, and stakeholders. Especially, given that we are in the investment space and every transaction is a high consideration one. Building trust required us to be consistent in providing high-quality services, as well as maintaining transparent and ethical practices. Establishing well-thought through processes, conducting regular audits, and taking feedback from our customers to identify areas of improvement, helped us immensely in our aim to be a trustworthy platform. We also prioritized open and honest communication with our stakeholders, keeping them informed about our progress, challenges, and achievements. We have been able to establish some long-lasting relationships.
The third challenge has been finding talent, which continues to be an area that needs our time and attention. In a competitive industry, attracting and retaining skilled professionals has been a priority. As a startup, it is always difficult to compete for talent with more established businesses. So far, we have been able to build a small but wonderful team of great professionals who also share our vision. But having said that, as we are expanding, finding new talent continues to be a challenge. To overcome this, we have established partnerships with academic institutions, offering internships and mentoring programs to cultivate talent early on.
Overall, these challenges have taught us the importance of adaptability, resilience, and continuous improvement. By overcoming these obstacles, we have grown as a company and are better equipped to tackle future challenges that may arise in our journey.
AR-What is your vision for the future of the industry your company operates?
Vittal- Our vision for the future of the financial technology space in India, particularly in the startup investment sector, is to create a technology solution that revolutionizes the process of startup fundraising and enables retail investors to effectively participate in this exciting asset class.
We envision a future where the barriers to entry for retail investors in startup investments are significantly reduced and we also believe the regulatory framework will also become more favourable. Currently, startup fundraising is predominantly limited to institutional investors and high-net-worth individuals, leaving out a vast pool of potential investors. We aim to democratize access to startup investment opportunities by leveraging technology to create a user-friendly platform that allows retail investors to discover, evaluate, and invest in promising startups.
Our technology solution will streamline the entire investment process, from deal discovery to due diligence and investment execution. This approach will empower individuals with the knowledge and tools to diversify their investment portfolios and participate in the growth potential of early-stage startups.
Furthermore, we recognize the importance of building trust and transparency in this sector. Our platform will prioritize robust regulatory compliance and investor protection measures. By implementing stringent due diligence procedures and providing transparent information about startups and their investment opportunities, we aim to instill confidence and trust among retail investors.
In addition to facilitating investment opportunities, we envision POD as a hub for collaboration and knowledge-sharing within the startup ecosystem. We will foster an environment where entrepreneurs, investors, and industry experts can connect, exchange ideas, and leverage each other’s expertise. By nurturing this collaborative ecosystem, we aim to catalyze innovation and create a supportive environment for startups to thrive.