Unbox: Launches and Pivots

Welcome to Unbox!

Dive in as we talk about the importance of placing big bets in the world of tech, why both data and intuition matter in expansion strategies, and the shifting goal posts of our portfolio companies as they welcome new challenges.

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Harvard Business Review calls intuition a “powerful form of pattern recognition.” But when it comes to making high-stakes business decisions, intuition alone isn’t enough. Without the right checks, it can lead to bias and oversimplification. That’s where data steps in—shaping strategies that drive long-term success.

At Lightbox, we believe data drives smarter decisions. One of our portfolio companies, Bombay Shirt Company (BSC), put this philosophy to the test when expanding its retail footprint. The big question? Should they double down in cities where they already had stores or venture into new markets?

Rather than guessing, we dug into the numbers. A deep dive into BSC’s Shopify data revealed a surprising trend—just 10% of customers accounted for 40% of revenues. Understanding these high-value shoppers became key to designing an expansion strategy. By analyzing online sales conversions, website traffic, and geographic purchase patterns, we identified 40 high-potential pin codes where new stores could thrive.

So, how do you turn website clicks into in-store foot traffic? And what does this case study reveal about data-driven growth for consumer brands?

Watch Monish Pathare & Nitin Luthra break it all down. From early roadblocks to bold bets, they share the strategic moves that took BSC to its next phase of growth.

February ended with the news of Microsoft sunsetting one of its most expensive investments worth $8.5 billion: Skype. That was 2011 and now, 15 years later, the product which failed to compete with instant messaging platforms and Zoom, has finally been put to rest. 

Skype’s identity crisis was evident. Remember when it introduced a “stories” like feature popularised by Snapchat? It’s easy to spell trouble when you see a core business product echoing features of apps designed for teenagers.

Coincidentally, we at Lightbox, a few days before Skype’s demise, were exploring the intricate relationship between technological solutions and timing. The question sometimes isn’t so much about what you’re launching but when you end up doing it.

You might have the right product that challenges competition, not ape it. But the market conditions are just not viable.

We dug a little deeper to explore the origins of a company called Unsurface founded by Lightbox Partner and MD Sandeep Murthy. The year was 2000 and the music industry was battling piracy proliferated by new players MP.com and Napster. Unsurface wanted to change that through an authentication system. Sony saw potential and invested $ 10 million in this venture but then the dot com bubble burst… 

Read more in this candid chat.

• Hello, Delhi! After successfully serving 2.5 million corporate professionals in Mumbai and Hyderabad, Cityflo is all set to make its grand entry to New Delhi. For starters, the premium commute service will operate on high-demand routes like DLF Cyber City, with connectivity across all major residential hubs.

  The company will deploy 100 buses within the first year of operation, aiming to serve 80,000 customers in DLF Cyber City.“Delhi's commuters are facing challenges with unreliable schedules and subpar vehicle conditions, even from global mobility players. We are here to change that narrative,” Co-founder & CEO Jerin Venad told the media. Read more.

• A head start: Online restaurant Rebel Foods is doubling down on innovation with AI-driven automation and the launch of ‘Quickies’, its new 15-minute food delivery service. AI is serving a role in the company’s operations from timely kitchen audits to inspections. Launched last month, Quickies has already begun making an impact.

  Dedicated spaces within Rebel’s kitchen now serve high-demand items. After a rapid 80-day pilot, it is seeing strong demand, averaging an impressive 400 orders a day. Including its standard orders, the new service is contributing to 25% of the total sales within the 3km radius segment and 45% of the total sales within the 1 km radius.

• Shifting gears: Ever since leaning toward premiumization, automobile e-commerce marketplace Droom’s revenue per car has skyrocketed from ₹38K to ₹1.6L. With this the company’s unit economics are looking stronger than ever.

• Furlenco is now in Kolkata! With a presence in over 25 cities and a customer base exceeding 300,000, the company continues its mission to bring hassle-free, premium furniture rentals to urban dwellers. To celebrate the launch, Furlenco has rolled out a striking taxi-top advertising campaign, transforming Kolkata’s iconic yellow cabs into mobile showcases of its furniture.

As the convenience economy goes mainstream in India, Furlenco, a pioneer of the rent versus buy movement in this market is experiencing accelerated growth in business. In the past 12 months, it's turned profitable, extended its subscription-based online furniture rental offering to offline stores, and now also manufactures its own furniture.

What's next for this exciting and unique business?

Watch Furlenco's Ajith Mohan Karimpana, The Rainmaker Group's Kashyap Parikh and Lightbox's Varun Varma in conversation in this fireside chat.

As we gear up to launch a $200 million fourth fund to invest in early-stage consumer businesses, Managing Director Sandeep Murthy discussed with Financial Express’ Anees Hussain, the company’s strategic shift, and future plans.

The “Lightbox 2.0” strategy will focus on improving operational expertise and corporate governance within our portfolio companies. Catch this interview here.

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