Thanks, Sandeep. Could you please some of those names?

Seema Singh

Thanks, Srikanth. You make an important point. Fractal has been working with a small base until now and it'll be very interesting to see how they buck the IT trend in not just growth but innovation and incubation. I hope I am around (in journalism) to write about it or have it covered at The Ken when they cross a few billions in $$ revenues :)

Seema Singh

Sam, I am sorry to hear that. Did you have any specific experience with any of these companies on the slew of adjectives you use to describe not one but three such companies? As for using big words like deep learning, if you've read the piece in full (I admit it's a tad too long), you'd have seen that Srikanth is not dropping those words. I was curious and I asked how industry is using this technique which academics and big tech keep talking about. The fact that they have 100+ customers in 15 odd countries, makes me believe that Fractal is delivering some value to them. But I am all ears if you can enlighten me and our readers with specific examples.

Seema Singh

Hemanth, sorry about the confusion part in the article :) I am always slightly confused when parsing Apollo Hospitals' numbers or strategy. One of the analysts I spoke with said that since the so-called demerger in 2019, they've had several discussions among their analysts community on the type of the demerger and they still don't fully understand it. So now you can understand my predicament. One of the former board members told me that Apollo's market cap would have been "10-15% higher had they followed a simple, clean corporate structure".

Seema Singh

Devarshi, what you say is correct ownership-wise. What I imply here is the the overall business because HealthCo is claiming all of pharmacy store revenue as its revenue.

Seema Singh

That's true. Paradoxically, B2B valuation is very different from B2C. The former goes by 1X sales, latter 6-7X GMV. Anyhow, few of the current valuation metrics or trends make sense to me :)

Seema Singh

Thanks, Nandagopal. The telecom software/analytics company Subex? If that's the one then it's not little-known :) It's a listed company that has gone through many ups and downs over the last two decades. It used to be the hottest company in town when I was starting out as a reporter.

Seema Singh

Sure, I'll email you on this. And I'll also send this note to Tracxn and see if they have any counter argument. I see that they do get data from corporate venture deals usually but not sure if they are capturing ALL of them.

Seema Singh

Shalabh, if you feel that way then all I can say is it's your right to feel the way you want :) But let me emphasise that's not how journalism is done at The Ken. Pranav had been working on the story much before Ola announced its select-media test drive. The amount of detail and their corroboration with multiple sources couldn't have been possible in the tiny window between the test drive and the publication of the story. Moreover, we don't do surprise journalism. Pranav played back every material information in the story back to the company for their comment/confirmation/denial. That Ola chose not to respond or engage with him is their prerogative.

Seema Singh

Thanks, Nikhit, Here goes: Foodtech: Cotex Technologies, Inficold, Evo Foods, Proeon, Goodmylk, Good Dot, Keeros, Krimanshi, ClearMeat Agri-related: String Bio, IRS, Seagrass Tech

Seema Singh

Hmmm, sorry to hear that, Vaibhav. I can understand the resonance part; it's hard to humanise 'capital' in a subject that deals with renewables, energy, battery, etc. It didn't occur to me that there'll be readers who'd not know about climate tech as such. Will do better next time.

Seema Singh

Ola funding is included in the chart. RIL's investment is (corporate) Capex and won't count as PE or VC funding. This space is certainly interesting :)

Seema Singh