Nitya Prakhar: Business, Books, and Building NiVa
Nitya Prakhar is a seasoned professional with 10+ years of experience and an author of the book "Being Who?", which explores themes of identity and personal growth.
Nitya Prakhar brings over a decade of extensive experience across various roles at Fortune 100 companies, with significant contributions in customer support, sales, travel services, software implementation, retention, and credit analysis.
Currently, Nitya is building NiVa- a revolutionary AI-powered payment app that transforms local interactions between you and your favorite businesses. NiVa's intelligent AI engine personalizes experiences, optimizes deals, and fosters a dynamic ecosystem that benefits everyone.
So, how did it all begin? Let’s hear it from Nitya!
What inspired you to become an entrepreneur and start your own business?
During my time at a Fortune 100 company, I encountered a barrage of tech challenges common in big businesses- from struggling to adapt and slowing down on executing plans to getting bogged down in endless approval processes. I was bursting with solutions, eager to make things better and faster. But trying to navigate through the corporate giant's layers felt like running in molasses. Ideas, no matter how good, just couldn't take off at the speed I imagined.
So, I decided it was time to change the game. I took one of those problems that kept me up at night, gathered a group of incredibly talented folks who shared my vision, and now, we're on a mission to build a brighter, more efficient world.
What was your biggest challenge as a startup founder, and how did you overcome it?
The greatest challenge I faced was assembling the best team and overcoming my fear of entering the competitive startup world. Coming from a corporate background, I was accustomed to a more shielded environment, where the competitiveness wasn't as intense. Suddenly, you find yourself navigating solo, making it crucial to form a steadfast team that's ready to support each other in any situation.
The quest to find these exceptional individuals led me to interview nearly 3000 candidates, ranging from high-ranking executives and startup founders to bankers and software developers. Through this rigorous process, I discovered 20 remarkable talents.
Despite being a bootstrapped startup that's only three months old, we've grown to a strong team of 20!
Can you share any exciting news or upcoming projects you are currently working on?
Our product, Botwot's alpha build, is now live on Product Hunt. We plan to launch the full-fledged product in July with a core focus on untapped markets like the EU, SWP, and SE Asia. Our goal is to generate half a million USD in revenue by 2024.
If your startup was a fictional character, what would it be and why?
Think of Batman as someone who, despite not having any superpowers, stands out due to his incredible determination, sharp wit, and unwavering perseverance.
How has Razorpay Rize helped you in your journey of being a founder?
Rize has helped a lot. Thanks to the founder community and the collection of tools, guides, and resources, which were specially curated for us. It's like having a group of incredible, talented founders walking with me every step of the way.
Additionally, Rize's Marketplace has provided us with substantial credits, significantly reducing many of our expenses. I want to extend a huge thank you to all of the hard-working individuals here. A special shoutout goes to Sherryl, Maneck, Arvind, and Salilpreet, who have always been just a text away. Thanks a ton, guys!
