In our inaugural report, we defined the new breed of “insurgent consumer brands” that operate with a sense of insurgency and are on track to capture an outsized share of growth in consumption.

This year we deep dive into consumer exits in the last 15 years to understand patterns and actionable insights for investors, founders, and strategics. We analyzed all consumer exits (cash exits or IPOs) focusing on real value-creation events for founders.

Additionally, we launch Insurgex, an index that celebrates insurgent brands with revenue > INR 75 Crores, a 3-year revenue CAGR ≥ 30%, and capital efficiency ≥ 1.5x. InsurgeX is our effort to spotlight brands that balance growth with strong business fundamentals. In the inaugural list, we have 18 leading insurgent brands!

We also zoom in on emerging consumer megatrends in Food and Beverages industry that the insurgents can tap into, to drive strong growth.