Bengaluru, June 2, 2022: With the aim of enabling the growth of Direct-To-Consumer (D2C) brands in India, Velocity, India’s leading revenue based financier, has partnered with Adyogi, one of the India’s leading marketing agencies, to launch a Growth Accelerator Program. The program which is the first of its kind in India aims to solve growth capital and digital marketing pain points for D2C businesses.
D2C brands selected for the program will receive support in the form of growth capital financing, inventory planning and optimised marketplace listings from Velocity while AdYogi will leverage its performance marketing expertise to increase marketing efficiency. Velocity and AdYogi commit to 2X growth in revenues within 6 months for participants in the program, failing which both will waive their respective financing and marketing fees.
Running an efficient D2C brand today involves solving for high returns on digital marketing, retaining customers as well as managing inventory. Further, the digital marketing landscape is seeing rapid shifts with changes such as the iOS14 privacy updates, rise of social commerce and influencer marketing posing collectively as challenges as well as opportunities to grow a business digitally.
Velocity and AdYogi plan on leveraging their cumulative experience working with over 700 e-commerce brands to address these challenges head on and help shortlisted brands grow. Specific focus will be on improving returns on advertising across media channels like Facebook and Google as well as marketplaces like Amazon, Flipkart and Myntra.
Sales planning and maintaining the right level of inventory is essential to ensure efficient use of working capital. There is a need to ensure that best sellers don\'t go out of stock while other articles are at right levels to avoid capital getting stuck in non moving articles.
Velocity will help D2C brand’s plan their inventory through these peaks and troughs, identify drop off points in the customer journey, increase retention and crank other growth levers. Brands that graduate from the program, will have a repeatable playbook for scaling their business.
Abhiroop Medhekar, Founder and CEO of Velocity, said, “We have set up a Portfolio Support Group led by seasoned experts who have driven thousands of crores of eCommerce growth. With the Growth Accelerator Program, we will extend that expertise to high potential D2C brands and support their exponential growth trajectories. We already have skin in the game to make a brand succeed. This program makes it even more explicit. It’s double or nothing for us - we either double their revenues, or we get nothing”
Given the rich expertise in the D2C space, network offerings, funding capacity, and marketing expertise that Velocity and Adyogi bring to the forefront, the program is designed to disrupt the fast-growing D2C ecosystem by creating an environment that drives scalability for the selected startups that are a part of the cohort.
Rohin Mittal, Co-founder of Adyogi said, “Most D2C businesses are unaware of many of the opportunities that exist around optimization and scaling. While Velocity’s financing will help the startups scale without any stress, we will help them with their digital marketing efforts so that their reach and conversions increase. We are incredibly excited about this program and hope to see these brands succeed and expand.
Velocity was launched in early 2020 by IIT Bombay graduates Abhiroop Medhekar, Atul Khichariya, and Saurav Swaroop. The founding team has a strong background in India\'s financial services and tech startup ecosystem. They previously worked in companies like Elevation Capital (earlier SAIF Partners), McKinsey, Acko Insurance, and HackerRank. Velocity is their second tryst with entrepreneurship. The trio had earlier worked together at Taskbob, a managed marketplace for high-quality home services.
Adyogi is the brainchild of professionals from Ivy League Indian B-Schools with over 35+ years of experience in varied fields, ranging from Consulting & Finance to Strategy & Marketing. In pursuit of creating a leading performance-based marketing solution, the idea of the Adyogi platform was conceived. Adyogi offers a pay-as-you-go model and features programmatic media buying, predictive revenue optimization, and real-time business intelligence across today’s most valuable social networking platforms like Facebook and Instagram.
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