Seeking Impact, From Dairy To DeFi | Srikumar Misra @ Aarna Protocol
Srikumar Misra’s journey through entrepreneurship is a compelling narrative of resilience, innovation, and the relentless pursuit of purpose. As the founder of aarna protocol and the earlier Milk Mantra, Srikumar’s experiences offer profound insights into the evolving landscape of entrepreneurship in India. His story begins in a small town in Odisha, shaped by the early loss of his father, an entrepreneur whose untimely death imparted critical lessons about risk and responsibility.
A Foundation Built on Hardship
Srikumar grew up in Cuttack, Odisha, in a family that faced significant challenges after his father, an IIT Kharagpur graduate, passed away in a car accident when Srikumar was just eight years old. The family's struggles with debt and the threat of losing their home forged in Srikumar an understanding of the harsh realities of entrepreneurship. Reflecting on this experience, he stated,
“I saw what happens to a genuine entrepreneur in India who takes a bank loan and has to mortgage his house to fund the business.”
Despite these hardships, Srikumar pursued a successful career with the Tata Group, eventually leading mergers and acquisitions for the consumer business. However, the calling to build something of his own nagged at him. After eight years at Tata, he decided to return to India and address the trust deficit in the dairy sector, leading to the inception of Milk Mantra.
Launching Milk Mantra: A Leap of Faith
In 2010, Srikumar founded Milk Mantra, aiming to create a premium dairy brand that would resonate with consumers. He says:
“I wanted to fix this problem and do it in a way that impacts the whole supply chain,”
The journey was not easy; he faced difficulties in raising funds and had to secure approximately $5 million to establish the infrastructure needed for the business.
Srikumar’s innovative approach included launching a premium product that didn’t require boiling before consumption, a common practice in India due to mistrust in milk quality. He states:
Milk Mantra’s unique selling proposition was its quality, packaging innovations, and ethical sourcing practices, which ultimately led to its success.
Growth and Challenges
Within four years, Milk Mantra reached revenues of approximately 100 crores ($12 million), reflecting Srikumar’s effective strategies and market understanding. However, the onset of COVID-19 brought new challenges, prompting the company to pivot and focus on profitability rather than aggressive growth. He shared,
“We took a conscious call at that point in time that we need to be fully profitable,”
This decision was pivotal, allowing Milk Mantra to navigate the uncertainties of the pandemic while maintaining a sustainable business model. By 2020, revenues had doubled, showcasing the resilience and adaptability of the company.
The Shift to Aarna Protocol
After achieving significant milestones with Milk Mantra, Srikumar’s entrepreneurial spirit led him to explore the world of decentralized finance (DeFi) and artificial intelligence (AI). His experience with blockchain technology began when he participated in the Indian government’s initiative to build an agri-stack, which aimed to enhance traceability in food supply chains using blockchain.
Srikumar’s keen interest in AI and DeFi culminated in the founding of Aarna Protocol, which aims to democratize access to crypto investments through AI-driven structured products. He explained,
“I realized that for anyone who really wants to access this, there was no real abstracted way to participate.”
Aarna Protocol combines the power of AI with the decentralized nature of blockchain to create innovative investment solutions.
Creating Value in a Volatile Market
Aarna Protocol’s flagship product, Afai 802, is the world’s first AI quant tokenized structured product designed to help users invest intelligently in crypto. He states,
“Our objective is to create informed, intelligent access to crypto and digital assets.”
The protocol allows users to engage in the crypto market without the need for extensive knowledge of trading or market dynamics, effectively lowering the barrier to entry.
The revenue model for Aarna Protocol is designed to align with user interests, incorporating a performance fee structure that ensures the protocol’s success is directly tied to user outcomes. He noted,
“We have a one percent deposit fee and a ten percent performance fee, which ensures we are aligned with our users.”
Lessons for Aspiring Entrepreneurs
Srikumar’s journey offers valuable lessons for aspiring entrepreneurs. He emphasizes the importance of purpose in building a business. This focus on meaningful impact rather than mere profitability has been a guiding principle throughout his career.
Furthermore, Srikumar advises future entrepreneurs to embrace resilience and adaptability, particularly in times of uncertainty. He reflects,
“The entrepreneurial journey is hard. It’s essential to have purpose and a clear vision when pursuing it.”
His experiences highlight that success in entrepreneurship often stems from a combination of innovation, hard work, and an unwavering commitment to one’s mission.
Conclusion
Srikumar Mishra’s entrepreneurial journey from Milk Mantra to Aarna Protocol exemplifies the transformative power of resilience, innovation, and purpose-driven leadership. As he continues to navigate the evolving landscape of digital finance, his story serves as an inspiration for aspiring entrepreneurs to pursue their visions with tenacity and integrity.
“Build for the future,”
He encourages, reminding us all that the journey of entrepreneurship is as much about impact as it is about profit.
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