Biography of Akshay Hegde: Co-Founder & Managing Director of ShakeDeal- Entrepreneur
Biography of Akshay Hegde:
Akshay Hegde is the Co-Founder and Managing Director of
ShakeDeal, a leading B2B commerce and supply chain company in India. With a
deep expertise in supply chain management, Akshay excels at solving complex
issues through his entrepreneurial ventures. At ShakeDeal, he is responsible
for overseeing business strategy and operations, focusing on procurement and
supply chain challenges. His experience spans various sectors, including
apparel, FMCG, and industrial industries.
Early Academic Achievements
Akash’s academic journey began at National Public School,
where he excelled with top grades in CBSE exams—96.4% in Grade XII and 96.0% in
Grade X. His leadership abilities were evident through his roles as Science
Association President, Sports Vice Captain, and team captain in basketball and
football.
Prestigious Admissions
Akash’s outstanding academic performance earned him
admission to several prestigious institutions, including the University of
California Berkeley, University of Michigan Ann Arbor, and Nanyang
Technological University Singapore, among others. His early education and
subsequent achievements set a strong foundation for his successful career in technology
and entrepreneurship.
Academic Excellence
Akash’s educational journey began with a brief stint at the
Indian Institute of Technology Kharagpur before he pursued a fully funded
undergraduate scholarship at the National University of Singapore (NUS). At
NUS, he graduated Summa Cum Laude in Electrical and Electronics Engineering,
consistently making the Dean’s List and earning several accolades, including
the ST Electronics Award and the NUS Student Achievement Award.
Exchange Program Experience
In addition to his studies at NUS, Akash participated in a
student exchange program at Eindhoven University of Technology. This experience
broadened his academic and cultural horizons, contributing further to his
expertise in electrical and electronics engineering.
Previous Experience
Before his current ventures, Akash worked in various product
management roles at Shopee and Practo, and co-founded Workaholics Pvt. Ltd. He
began his career as a process engineer at ExxonMobil and worked as a consultant
at Accenture. His early roles include marketing and sales intern at Josch Power
Tools.
Previous Experience
Before his current ventures, Akash worked in various product
management roles at Shopee and Practo, and co-founded Workaholics Pvt. Ltd. He
began his career as a process engineer at ExxonMobil and worked as a consultant
at Accenture. His early roles include marketing and sales intern at Josch Power
Tools.
Biography of Akshay Hegde:Co-Founder & Managing Director of ShakeDeal Entrepreneur/Investor.Success story of Akshay Hegde/Startup ShakeDeal & Shakeup
Career Milestones
Before founding ShakeDeal, Akash played a crucial role at
Practo, where he launched major products like Doctor Search and Practice
Management Software in international markets, including Singapore, Indonesia,
Malaysia, and the Philippines. At Shopee, he was part of the early product team
that successfully launched the e-commerce platform across seven countries,
achieving over $200 million in gross merchandise value within six months.
Origins of ShakeDeal
Akshay and Akash Hegde, while managing their family
business, identified several issues in the market, such as poor procurement
pricing, delivery service problems, and inefficient supply chains. They also
recognized an opportunity to reduce distribution costs and increase margins by
improving market reach and cash cycles. This insight led to the creation of
ShakeDeal in 2016, a B2B e-commerce platform designed to address these
procurement and distribution challenges. They were later joined by their friend
Santhosh Reddy as a co-founder.
Leadership at ShakeDeal and ShakePe
Since January 2016, Akash has led ShakeDeal, driving its
success as a major platform for MSMEs in India, the USA, and the UAE. His role
encompasses a range of skills including supply chain management, B2B commerce,
and e-procurement. In October 2021, he co-founded ShakePe, focusing on loyalty
and incentive programs, and leveraging his expertise in brand activation and
fintech.
Investment and Angel Roles
Akash is also an investor member at Inflection Point
Ventures, starting in December 2021, and an angel investor at Shipway since
January 2021. His investment roles reflect his deep understanding of business
strategy and growth.
Approach and Market Impact
ShakeDeal operates with an asset-light model, allowing for
an unbiased evaluation of industrial supplies and enhancing transparency. This
adaptability helps them manage market fluctuations, such as stock shortages and
outdated catalogs. Based in Bengaluru, ShakeDeal offers B2B solutions for large
and medium enterprises across various industrial sectors and brand-to-reseller
markets. Their focus on understanding and addressing customer pain points sets
them apart from traditional B2B strategies, providing unique, tailored value to
their clients.
ShakeDeal: Revolutionizing B2B Commerce
ShakeDeal is a B2B commerce marketplace designed to meet the
supply needs of MSMEs. Partnering with over 1,500 vendors nationwide, ShakeDeal
operates on a model where it earns a margin percentage from successful sales.
The platform combines drop-shipping and just-in-time (JIT) fulfillment to
handle various business requirements, including maintenance, repair, and
overhaul (MRO), office supplies, and corporate gifts. Currently, ShakeDeal
serves nearly 4,000 SMEs monthly and aims to reach 10,000 by the end of the year.
SaaS-Based Services
ShakeDeal offers two SaaS-based services: the ShakeDeal
Enterprise Portal and the ShakeDeal B2B Sales Platform. The Enterprise Portal
streamlines procure-to-pay processes for larger companies, offering features
like custom pricing, spend analytics, and assisted procurement. The B2B Sales
Platform is a new e-commerce tool that connects brands and manufacturers with
distributors and customers. It provides an easy-to-use interface for placing
orders, accessing tiered pricing, discounts, digital catalogs, and real-time
inventory information.
Growth and Investment
ShakeDeal is experiencing rapid growth, with a remarkable
500 percent year-on-year increase. In FY 2018-19, the startup secured
undisclosed investment from Vora Ventures, a US-based private equity firm. This
investment also included an acquisition, though specific details of the
acquisition were not disclosed by the founders.
Conclusion
Akash Hegde, Co-Founder and Managing Director at ShakeDeal,
is a prominent technology entrepreneur and business leader. His exceptional
contributions to the retail and e-commerce sectors earned him a spot on Forbes’
30 Under 30 Asia list in 2021. With over a decade of leadership experience,
Akash has significantly impacted product management, sales operations, and
strategy. At ShakeDeal, he focuses on addressing pain points in B2B procurement
and supply chain management.
A timeline of Akshay Hegde’s professional journey and
achievements:
1996-2001: Attends National Public School, achieving top
grades in CBSE exams and holds leadership roles.
2001-2004: Begins undergraduate studies at the Indian
Institute of Technology Kharagpur before transferring to the National
University of Singapore (NUS).
2004-2008: Graduates Summa Cum Laude in Electrical and
Electronics Engineering from NUS; participates in an exchange program at
Eindhoven University of Technology.
2008-2010: Works as a process engineer at ExxonMobil and as
a consultant at Accenture.
2010-2011: Interns in marketing and sales at Josch Power
Tools.
2011-2013: Works in product management roles at Shopee and
Practo.
2013-2015: Co-founds Workaholics Pvt. Ltd.
2016: Co-founds ShakeDeal, a B2B e-commerce and supply chain
platform.
October 2021: Co-founds ShakePe, focusing on loyalty and
incentive programs.
December 2021: Becomes an investor member at Inflection
Point Ventures.
January 2021: Joins as an angel investor at Shipway.
2021: Recognized on Forbes’ 30 Under 30 Asia list for
contributions to technology and business.
This timeline highlights Akshay Hegde's significant
milestones and roles throughout his career.
