desiboys Posted July 28, 2017 Report Share Posted July 28, 2017 Former Kroger exec's startup raises millions, double what it was aiming for Enlarge Narayana Surabhi and Shashank Saxena are co-founders of Vndly A former Kroger executive, who left the company in April to launch a tech startup, has raised millions in a seed round that twice as large as initially expected. Shashank Saxena, who previously led Kroger's digital strategy, co-founded Vndly with Narayana Surabhi. The startup raised a $3 million round, led by Bowery Capital out of New York and joined by Epic Ventures in Salt Lake City and locally by Vine Street Ventures. "It's a pretty big win for the local startup ecosystem and what Cintrifuse is doing," Saxena told me. "Their key thing is to attract outside investment to the region, and neither of these VCs (venture capitalists) have invested here before." Vndly applies artificial intelligence and machine learning to make a smart vendor management system and automate processes currently done by multiple employees within a company. For instance, companies like Procter & Gamble require their suppliers to maintain a certain level of insurance. Every day, so many suppliers have to submit proof of insurance, and an employee has to manually manage that in the vendor management system. Saxena said Vndly will be able to manage that with one employee and an algorithm doing the job of 10 people. Cintrifuse maintains a $57 million syndicate fund, which it uses to invest in other venture funds across the country with the goal of getting them involved in Cincinnati. But that fund is also a carrot it can dangle in front of funds to entice them to even just come out and visit Cincinnati to see what's going on. Cintrifuse has not invested in either Bowery Capital or Epic Ventures. “Connecting the Vndly team with Epic Ventures validates why we maintain relationships with every fund that walks through our doors,” Cintrifuse Fund Manager Sarah Anderson said in a statement. “Even though we may not initially invest in a fund, we still make a concerted effort to keep them engaged in our ecosystem. The proof is here with Vndly.” Epic Ventures Director Chris Calder said he was introduced to Saxena through Cintrifuse in 2016 and leaned on his advice for a few investments. When his LinkedIn profile changed to reflect he no longer worked at Kroger, Calder reached out to see what was new. Quote Link to comment Share on other sites More sharing options...
Batman_fan Posted July 28, 2017 Report Share Posted July 28, 2017 Identify a problem, develop a solution, pitch your idea, raise the capital, form a company, run it for few years, sell it to big players, and retire. Quote Link to comment Share on other sites More sharing options...
tennisluvr Posted July 28, 2017 Report Share Posted July 28, 2017 21 minutes ago, Batman_fan said: Identify a problem, develop a solution, pitch your idea, raise the capital, form a company, run it for few years, sell it to big players, and retire. When are you starting? Quote Link to comment Share on other sites More sharing options...
mastercheif Posted July 28, 2017 Report Share Posted July 28, 2017 northies ... telugu fellows leru Quote Link to comment Share on other sites More sharing options...
Batman_fan Posted July 28, 2017 Report Share Posted July 28, 2017 2 minutes ago, tennisluvr said: When are you starting? apude ekada bro. naku vuna ideas try chedam antey inko 5-10 years time padutundi...emana product meda focus chedama ani vadilesi antey GC issues.... Quote Link to comment Share on other sites More sharing options...
tennisluvr Posted July 28, 2017 Report Share Posted July 28, 2017 6 minutes ago, Batman_fan said: apude ekada bro. naku vuna ideas try chedam antey inko 5-10 years time padutundi...emana product meda focus chedama ani vadilesi antey GC issues.... Start your business be a passive investor, make $1M for yourself and EB5 route to Gc. Quote Link to comment Share on other sites More sharing options...
Batman_fan Posted July 28, 2017 Report Share Posted July 28, 2017 8 minutes ago, tennisluvr said: Start your business be a passive investor, make $1M for yourself and EB5 route to Gc. sounds awesome. but execute cheyademe kastam.. An idea can change your life anaru. dani kosam waiting. adi vachesariki retire ayipotanemo Quote Link to comment Share on other sites More sharing options...
Quickgun_murugan Posted July 28, 2017 Report Share Posted July 28, 2017 55 minutes ago, Batman_fan said: Identify a problem, develop a solution, pitch your idea, raise the capital, form a company, run it for few years, sell it to big players, and retire. Quote Link to comment Share on other sites More sharing options...
Popkatapetapotapulti Posted July 28, 2017 Report Share Posted July 28, 2017 1 hour ago, Batman_fan said: apude ekada bro. naku vuna ideas try chedam antey inko 5-10 years time padutundi...emana product meda focus chedama ani vadilesi antey GC issues.... fews ideas chepu..nachite we can sync up...my exp: 2 ideas, 1 idea still in "what?" phase other was on roll and ended up quickly..ideas chepali anukunte pm...team up with some random guy anukunte I wish you good luck Quote Link to comment Share on other sites More sharing options...
siru Posted July 28, 2017 Report Share Posted July 28, 2017 2 hours ago, desiboys said: Saxena said Vndly will be able to manage that with one employee and an algorithm doing the job of 10 people. basic ga idi success aithe jobs 10gutai anamata.... hope it fails Quote Link to comment Share on other sites More sharing options...
Popkatapetapotapulti Posted July 28, 2017 Report Share Posted July 28, 2017 1 minute ago, siru said: basic ga idi success aithe jobs 10gutai anamata.... hope it fails technically 9gutai Quote Link to comment Share on other sites More sharing options...
Batman_fan Posted July 28, 2017 Report Share Posted July 28, 2017 34 minutes ago, Popkatapetapotapulti said: fews ideas chepu..nachite we can sync up...my exp: 2 ideas, 1 idea still in "what?" phase other was on roll and ended up quickly..ideas chepali anukunte pm...team up with some random guy anukunte I wish you good luck okay vuncle. next few months lo edo oka idea decide chedam...neku pm chesta nenu ready ayinapudu Quote Link to comment Share on other sites More sharing options...
Popkatapetapotapulti Posted July 28, 2017 Report Share Posted July 28, 2017 33 minutes ago, Batman_fan said: okay vuncle. next few months lo edo oka idea decide chedam...neku pm chesta nenu ready ayinapudu few months lo product itundi idea decide cheydam enti Quote Link to comment Share on other sites More sharing options...
Batman_fan Posted July 29, 2017 Report Share Posted July 29, 2017 2 hours ago, Popkatapetapotapulti said: few months lo product itundi idea decide cheydam enti few months lo nenu decide avuta. risk or safe career ani.. Quote Link to comment Share on other sites More sharing options...
NinduChandurudu Posted July 29, 2017 Report Share Posted July 29, 2017 6 hours ago, Batman_fan said: Identify a problem, develop a solution, pitch your idea, raise the capital, form a company, run it for few years, sell it to big players, and retire. Yes. Giving a solution to people's problems and making their life's easier gives success. Quote Link to comment Share on other sites More sharing options...
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