Good morning & welcome to a brand new week! I certainly had a chill weekend (was not super happy that I had to answer a bunch of questions about a certain Netflix show to my friends here 😠). Vedica is working on finishing her follow-up piece on Reliance, so y'all have to bear with me this Monday. We've got Jio launching an app for JioMart & a VC's take on AgriTech cos:
➡️ Just days after Reliance's Annual General Meeting, JioMart's mobile apps (for both iOS & Android) have been formally launched.
➡️ And though news sites are just reporting of the launch now, the Android app already has over 100k downloads so the actual launch might have been a while ago.
➡️ The company said that JioMart has been receiving over 250k orders a day, just weeks after it's launch (which is very impressive) and with the official apps being released that number is probably poised to go up.
➡️ JioMart currently serves over 200 locations over the country and now offers free deliveries on all orders (previously there was a min. of ₹750). Reliance also plans to expand the offerings on JioMart in the future to also sell electronics, apparel and will directly compete with the likes of Flipkart & Amazon.
➡️ While I think JioMart will be quite successful when it comes to groceries/daily necessities, I'm interested to see how the state of eCommerce in general plays out with them entering other verticals or acquiring companies in those verticals.
2. https://bit.ly/2CsYRhJ: Plenty of room for AgriTech cos to scale: Abhishek Mohan (Sequoia)
➡️ I recently read a sobering tweet by a friend who said that the job crisis in India might be the biggest problem to solve over the next couple of decades, and companies to solve for this massive problem & and its sub-problems.
➡️ With agriculture still being India's largest employment sector, there is plenty of scope for companies to help farmers with farming to help increase their yield & earnings.
➡️ According to Abhishek Mohan, a VP at Sequoia Capital India, there are a couple of broad areas where technology is helping the agriculture sector: i) Input & Market Linkage- tech to enable discover & purchase inputs as well as find demand for their product;
➡️ ii) Digitization- Using IoT & satellites to mechanize & digitize farms and help with the monitoring of crops; and iii) Advisory- advising farmers on what to grow, how to grow it & other best practices.
➡️ Sequoia has also backed a couple of AgriTech companies- DeHaat & Procol (Surge), Bijak (Surge) and while the tech penetration in agriculture & farming is still quite limited, there is a huge opportunity to build big companies as India continues to digitize.
Feedback & ❤️ always appreciated BONUS (Tweet of the day): https://twitter.com/soaibgrewal/status/1284840561132728320
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