startup india

Increase in Indian startups as Blue-collar workers enter the startup ecosystem

Due to the ongoing pandemic, many have been prompted by job loss and reverse migration. To cope up with the loss, many of blue-and-grey collared workers have started their own business in tier II and tier III cities. This has increased the number of startups catering to the new segment which is backed by Y Combinator and Sequoia Capital.

Apna which is a recruitment platform for the grey and blue-collar jobs, Lokal which is a hyperlocal news and classifieds platform, Aiisma which is a data marketplace app and ReadyAssist which is roadside assistance startup are all included.

Their aim is to upskill and reskill the newbies of micropreneurs across some states such as Telangana, Karnataka, Andhra Pradesh, and Tamil Nadu. They hope to become the helping hand for the new breed entrepreneurs to understand business dynamics, soft skills like marketing and communication as well as community and distribution networks.

Apna has approximately 60 skill-based vertical groups or communities that assist workers such as plumbers or electricians who wish to start their own business as well as help them to learn about various market opportunities after setting up the business.

Pune-based Kishore Patra, 36, who worked in a company for about 20 years. He recently lost his job after the closure of the company. Patra slowly took a turn towards business. It also included the one which dealt with eco-friendly pencils wherein it used Apna to hire around 200 people for the business from February. To the Apna peer groups, the skills and jovial personality of people that Patra had, made him an influencer which inspired to launch his own YouTube channel, ApnaBizPandit.

“On the app, inter-vertical skills are quite common, which otherwise is difficult to see in the real world as these people do not cross paths. This helps these informal workers expand their services and assist each other to provide business leads, share their challenges and communicate,” said the head of Apna, Nirmit Parikh. Apna has received funding of nearly $2 million from Sequoia Capital and Lightspeed Venture Capital.

To build their distribution networks, micro-entrepreneurs use the hyperlocal news and classifieds platform, Lokal. In November 2019, Lokal has raised $3 million in seed funding from Y Combinator and others. Lokal is currently available in Telugu, Tamil, and Hindi.

An executive said, “Through Lokal Ganesh who is a small-time seller from Warangal found delivery personnel to ship 1,500 hearing aid devices to others and his community.” The executive added, “We have helped facilitate the sale of vegetables, homemade ornaments, and even a goat in Tamil Nadu.”

Most of the sellers are new to the business world and all infrastructural challenges and that’s where Lokal comes into the picture. “Many of them are private employees who have started selling essentials as they have not been paid salaries during the lockdown. More than 90% of local MSMEs have been adversely affected. Local beauty parlours and saloons are now selling and delivery beauty packages to sustain their income,” said co-founder of Lokal, Jani Pasha.

Bengaluru becomes the first Indian city to be in the world’s top 30 list of the startup ecosystem

According to the ‘The Global Startup Ecosystem Report 2020’ by Startup Genome, Bengaluru becomes the first Indian city listed in the world’s top 30 startup ecosystems.

Bengaluru is India’s startup capital. According to the ‘The Global Startup Ecosystem Report 2020’ by Startup Genome, Bengaluru becomes the first Indian city listed in the world’s top 30 startup ecosystems. Bengaluru stands at 26th spot topped by the Silicon Valley in California.

Delhi is ranked at the 36th spot while in the list of top 100 emerging ecosystems, Mumbai gets the first ranking. Chennai, Hyderabad, and Pune are also included in the list of emerging startup hubs.

Startup Genome is a California headquartered innovation policy advisory and research firm. It surveyed cities around the world where early-stage startups have the best shot at building global success.

London and New York found tied for the second spot whereas Delhi gets ranked well for the complexity of patent creation and volume in the analysis. The report says, along with Paris and Singapore, Bengaluru stands out for high access, quality as well as activity of funding.

In 2012, when rankings were released, access to capital, investment, and global talent have pushed London’s ascent from number eight to number two. Founder of Startup Genome, J. F. Gauthier said, “Today’s global report ranks the best cities where startups can build global success. Startup ecosystems outperform when their entrepreneurial community is not only open to but deeply integrated within the global startup community.”

He also said, “This is certainly the case for London, as it continues to play a central role in the global fabric of startup ecosystems and is only eight years has risen from number eight to a tie in second place. The Covid-19 crisis has accelerated the transition to the digital economy and has called for entrepreneurs to innovate faster.”

6 reasons Indians choose not to become entrepreneur

Check out six listed reasons why Indians choose not to become entrepreneurs.

The start-up scene has taken a major soar in the last couple of years. However, Indians still prefer to work in an office and go the 9-5 route rather than starting their own business venture.

Here are a few reasons why Indians choose not to become entrepreneurs:

1. High Risk Affair

Indians do not go for the whole starting up their own business and turning into entrepreneurs scene because there is a lot of risk involved. Even with a brilliant idea and correct marketing techniques, there is quite a possibility that the business might not do well. And, nothing is more disappointing to an Indian entrepreneur than failure because there are loans to pay and most do not want to deal with the distress of a failed start-up. Instead, an Indian would rather take up a job that pays well and stay put for years.

2. Family vs Startup

Most Indians consider themselves as family people and believe that becoming a entrepreneur can hamper their family life as they’ll have to work for long hours which might detach them from their family. Women in particular, prefer to take up a job instead of their own venture because of the whole juggle between family and professional life.

3. Don’t want to Lead

This is another reason why Indians are so scared to become entrepreneurs. They might be great at their jobs but when it comes to assuming the role of a leader and delegating jobs, they aren’t very comfortable. A start-up’s sole responsibility falls on the entrepreneur and so does the success or failure which is why even though they might be capable, they don’t want to be solely responsible for a start-up.

4. What about the years of fancy Education

Some people stand by the belief that they have spent a lot of energy, time as well as money on their education and it is rendered worthless if they don’t actually take up a job in their respective field. The money and time spent on gaining education is considered futile if one goes and starts up his/her company. Great entrepreneurs were college drop-outs which is a common belief amongst Indians and since Indians value education highly, they don’t want it to be considered a waste.

5. How to Make the Idea work

It is not a cake walk to become an entrepreneur. The task requires a lot of hard work, determination and research to make a company work. Even with a great idea, if a single set of skills is missing, it can lead to the whole start-up crashing down.

For instance, an aspiring entrepreneur might have an innovative idea but he didn’t promote it enough on social media. Thus, because of lack of research as to how one reach a specific target audience can lead to the downfall of his whole company.

6. Where is the Funding?

Another major and important issue which is hardly addressed is the difficulty to garner funds for a company. A person might have a great idea but because of lack of investors or required sponsorship, he or she decides to scrap it and stick to their job. However, things are changing on this front as budding entrepreneurs are now being looked at as assets by huge companies who can provide funds. Also, the current Prime Minister supports the idea of start-ups which can prove to be a huge boost to entrepreneurs.

However, things on the start-up front are changing as with evolving market strategies, SEO tools, funding schemes and more will to become the boss, people are actually giving start-ups a chance.

Flipkart and Amazon prepare for sales in May, Soon After Lockdown

Flipkart and Amazon have asked their partnered brands and sellers to stock up for the post lockdown sales. They are expecting that many people are waiting to buy non-essential goods post lockdown. The demand for these non-essential goods is immensely high at the moment.

To cope up with the economic loss during the nationwide COVID-19 lockdown, Flipkart and Amazon have decided to put up mega online sales in May.

To avail the maximum benefit and recover from the loss of lockdown, they are planning to reduce the discounts.

Brands now know that, after the quarantine, customers will be looking for the availability of products rather than discounts. The new sales will not be based on cuts rather than they will be based on high demand.

Due to the Coronavirus pandemic, people are shifting to online platforms for buying groceries and other things. Therefore, a significant boost in E-commerce growth is expected.

Avneet Singh, chief executive of SPPL, which makes Kodak and Thomson smart televisions, said that e-commerce marketplaces have witnessed new consumers in the age group of mid-thirties are ordering products online for the first time. Singh believes that these new consumers will help boost online sales after the restrictions are lifted.

So far, Odisha is the state to allow all e-commerce platforms, such as Flipkart, Amazon, BigBasket, Grofers, Swiggy and Zomato, along with their third-party logistics partners, to resume operations during the second phase of the lockdown. Learning from Odisha, other states and central authorities are expected to take similar actions.

What are the best startup ideas in India to work on and start a company?

What are the best startups in India to join currently, and why?

Ever since our Honourable Prime Minister, Narendra Modi, talked about Skill India, the echoes of startup became more vivid and far spread, but what is a startup and how will it affect an individual? Before getting straight into the theory of startup, let’s understand entrepreneurship.

Entrepreneurship is the process of designing, launching and running a new business, which is often initially a small business. The people who create these businesses are called entrepreneurs.

Entrepreneurs invent startups. Startups are high-risk businesses featuring a product or service that’s aimed at fulfilling a specific need in the marketplace. Most of them are technology-oriented and focused on growth potential. Some pretty recognizable businesses began as startups, including Uber, Airbnb, Spotify, and Snapchat.

Startups are highly important in an economy as it promotes employment and also uplifts the living standards of the people.

So let’s check out the best ideas for startups in India:

1. Logistics Business

Logistics business (especially in tier 2 and tier 3 cities ) with the growth of smartphones and the internet, demand for e-commerce is growing faster and companies like Snapdeal and Flipkart, etc. are having a hard time in delivering in those areas. Many players are coming up like Roadrunnr, Ekart, but still not good in those cities.

2. Database Marketing

With companies struggling to convert bulk emails into customers, it is high time that they adopt a system where they are able to target and segment customers and then send a personalized email. For example, I have to sell insurance, I would ideally want to write a first mail different to a retired person and different to a young working man. This is only possible via database marketing. A lot of startups have flourished in this domain in the USA but not a lot in India.

3. Recycling

People make billions from recycling. I still fail to understand why our nation has not been able to do much. The waste is gold and we waste it. All metals, newspapers can be easily recycled. All biodegradable substances can be used to produce rich manure or even biogas. Someone needs to stand here. It would be a great profit-making social entrepreneurship.

4. Exercise Notebooks

Exercise books are widely known & vastly used as day-to-day products. Notebooks are available in the market in various sizes, shapes & pages and having various types of covers paperbound, board and Rexene bound, etc.

5. Blood Bags

The blood bag is a disposable bio-medical device used for collection, storage, transportation and transfusion of human blood and blood components. The system consists of a single or multiple bags connecting with tubing, needle, needle cover, clamp This idea can hit into hospitals and other health organizations.

6. Readymade Garments (T-Shirt)

Readymade garments are a part of our daily life. Clothes are an epitome of culture. People in different parts of the world have their own styles of dressing which symbolize their culture and status. The Readymade garments industry is increasing day by day due to changes in fashion in day to day life.

7. Integrated unit RMC with Stone Crusher

Concrete is the most vital material in modern construction. It has versatile properties like easy mouldability, high compressive strength, and long-lasting durability. These properties of concrete have made it the most popular construction material for all types of civil engineering works.

8. Production of liquid soaps and detergent

Laundry detergent, or washing powder, is a type of detergent (cleaning agent) that is added for cleaning laundry. In common usage, “detergent” refers to mixtures of chemical compounds including Alkylbenzene sulfonates, which are similar to soap but are less affected by hard water and we all know that every household needs it.

9. Romantic Places

With a huge number of young people, dating is widespread in metropolitan cities. Now have a look around, and tell me how many romantic places you have been to with your GF/spouse? Rarely would you come up with a good answer? I hardly see Candlelight Restaurants in cities, no romantics gateways. Not a lot is being done for the “couples” market. Men usually have a tendency to splurge in front of their dates. Play outsmart here.

10. Namkeen (Bhujia, Chana Chur, Khatta Meetha)

Dal Moth, Chanachur, Bhujia and Khattameetha are the important names signifying flavor and taste as processed foods. These are food products having no historical background but have established popularity in the market over many years.

11. Tuition Centre

This is possibly one of the most cost-effective businesses to launch, due to its near-zero starting cost requirement. Most tuition-teachers take classes in their own homes, thus eliminating any expenditure on rent and supplies. The only effort you need to put in as a tuition teacher is to take to advertise yourself on social media or go the old school way with flyers and ‘word-of-mouth’ recommendations.

12. Breakfast Joint

You must have noticed how those little breakfast and tea stores across your city are almost always filled with customers. This is because food as a commodity will always do well in a competitive market. To open up your own breakfast joint, you need to invest money in renting a space for it, after having received a permit for it from the respective authorities. If your rent is within Rs 5000 a month, you can dedicate the rest of your budget on buying groceries and other raw materials as well as second-hand tables and chairs.

13. Fruit Juice Kiosk

Who doesn’t appreciate fresh fruit-juice on a sweltering day? To tap into this lucrative business, you have to start by requesting a permit to open a kiosk in a chosen locality, preferably one that is hard to miss. Following this, you will need to pay rent for shop-space. Other than this, the only other investment you need to put your money up for is for the purchase of the raw materials, supplies like machines for making the juice, and the salaries of the employee(s) making the juice.

15. Garment Tailor

In cities like Kolkata, Mumbai, and Delhi, the demand for good tailors has increased tenfold due to the increasing popularity of self-made designs. Other than a small rented space, you only need to invest in powerful sewing and stitching machines, and of course electricity.

16. E-Waste Recycling Plant

E-waste is a popular, informal name for electronic products nearing the end of their useful life. Computers, televisions, VCRs, stereos, copiers, and fax machines are common electronic products. While there is no generally accepted definition of e-waste, in most cases, e-waste comprises of relatively expensive and essentially durable products used for data processing, telecommunications or entertainment in private households and businesses.

17. Kraft paper from waste cartons

Paper is a major product of the forestry industry and is used widely in our society. Paper products are used not only in their obvious applications in the publishing industry and for writing on, but also in a variety of specialty papers, cardboards, brown papers, etc.

18. Papad Plant (Automatic)

These days the demand for papad is growing immensely. At present papads are in short supply in the market. It is estimated that demand for papads will keep on multiplying. Exports of papads from India to various countries over the world have been quite substantial.

19. Mobile recharge shop

Even with online recharge, in India, most mobile-users prefer visiting a recharge shop to fill their balance. So those looking to practice this business can start by renting a space in a small local shop. This rent will be the primary (monthly) expenditure. You also need to form ties with the network providers of the area, such as Airtel, Vodafone, Idea, etc, and pen down their commission rates, where they will receive a cut of your profits from the sale of the commodities taken from them. Assuming that you aren’t looking to rent out a shop-space in any expensive real-estate property, your overall costs will definitely feature below the Rs. 10,000 scale.

20. Cafe business

This is no mystery that Indians love some newly blended espresso and this enthusiasm for espresso has lead to an expansion in the cafe business in India. There has been a consistent increment in the interest for refreshments and the café or bistro design is quick turning into a mainstream decision for opening an eatery business in India. As indicated by TechSci Research report, the Coffee Shop business is required to see development at a CAGR of over 11% by 2021. This makes opening a café business very gainful whenever done right!

So these are the basic but the most profitable business ideas which can push India to the greatest heights. So take a little risk for a hugely positive outcome!

5 common financial mistakes all start-ups make and how to avoid them

Because of lack of experience or financial knowledge, every entrepreneur is bound to make some initial and crucial financial errors.

Because of lack of experience or financial knowledge, every entrepreneur is bound to make some initial and crucial financial errors. However, these can be avoided by following some simple steps and seeking simple solutions to these problems.

Listed below are 5 common financial mistakes all start-ups make and how to avoid them:

I. Problem: Overpaying taxes

This happens because a lot of people aren’t sure about the taxes which cause mismanagement of the taxes to be paid and you end up paying extra.

Solution: In order to combat this problem, you should start keeping a track of the taxes you have paid and constantly monitor the future taxes that need to be paid. By taking these simple steps, you can save a lot of money which can be pumped into the business.

II. Problem: Spending impulsively in the initial days

Entrepreneurs tend to buy a lot of impulsive stuff during the initial days which might not be required later.

Solution: Start making a list of the things your enterprise cannot function without and spend money on buying only those things to save money.

III. Problem: Mixing business and personal finances

No matter what the situation is, your personal and professional expenditure must be separate. The money saved for your business shouldn’t be used for purchasing personal luxuries whatsoever.

Solution: Create separate bank accounts if required; one for your company and one for your personal use and never use one for the other.

IV. Problem: Incorrect hiring

Hiring the right kind of people is an art which necessary for a start-up to function smoothly which is usually not looked after by most entrepreneurs and leads to serious financial problems in terms of salary and money spent on training.

Solution: Hire an experienced human resources manager who can initiate the process smoothly.

V. Problem: Not setting clear goals

Often we tend to go with the flow and not set clear, focused goals to work upon which hampers the financial aspects as the expenditure goes haywire.

Solution: In the beginning, you must set clear goals so that you are aware of the amount you need to spend to achieve it.

Through his venture, FairPencil, founder Yatish Jain, helps create aesthetically brilliant architectural spaces

FairPencil, aims to help people solve the various challenges faced in terms of house designs/architecture and provide design solutions.

FairPencil: Catering to your perfect house design solutions through a blend of modern architecture and innovative ideas

Yatish Jain is a young entrepreneur who hails from Udaipur and through his entrepreneurial venture, FairPencil, aims to help people solve the various challenges faced in terms of house designs/architecture. Jain is a graduate in the field of architecture from DY Patil, Pune. Recognising the problems people faced on the architectural front while setting up a house, led him to involve technology in the field of traditional real estate business owned by his father, Mr. Kalu Lal Jain, Arihant Property and taking his passion for the field a step further by setting up FairPencil.

FairPencil is a unique house design solution app which looks to help and guide people by providing them aesthetic architectural options which are original and modern. It also aims at simplifying the process of designing and creating these designs more hassle-free through its one-of-a-kind calculator which provides requirements of plot area by making use of a few simple inputs. Keeping the different kind of audiences in mind, the app has been divided into the Design Blog, the Vastu Blog and the Project Showcase which are essentially knowledge hubs for architects.

“It is an initiative created with an aim to give all type of ideas and details about the designing of a house and other spaces. Initially, if you will take a look at FairPencil, we intend to add guidelines, blogs, and even more for the people who are related to designing of space and construction. Or, the ones who are thinking to construct and design their house in an entirely new way.” -Yatish Jain

For people looking for unique designs and decorations for their home, FairPencil, is boon as by making use of accurate measurements, the app offers them decor ideas and designs to choose from. The designs suggested by the app are nothing short of a visual delight and the range offered is varied and scintillating.

The initiative also extends a horizon of opportunities for architects and interior designers who can appeal to a wider audience base by simply contributing to the FairPencil blog. Apart from providing solutions, the app is beneficial to students and budding architects as it imparts tips by experienced architects and also provides them with a platform to showcase their talent.

Log on to www.fairpencil.com for more information.

Lists of important government schemes for the startups in India

Run through the list to know more about Startup India schemes.

Government tweaks startup resolutions by introducing comprehensive list of schemes! Startup India action plan which was launched on January 16, 2016 by PM Narendra Modi opened doors to many knowledge based and technology driven innovations in diverse industries. In the past few months Indian Government has introduced innumerable schemes providing funds, loans and other benefits to startup. These Startup India schemes support new ideas and research programmes methodically by following standard regulations.

Unlocking astonishing facts & figures:

• India’s rank in number of startups-3rd place behind Britain and US

• Technology startups that exists in India- Around 4,400

• Expected number of startups by 2020-Over 12,000

Run through the below list to know more about Startup India schemes:

1. Support for International Patent Protection in Electronics & Information Technology (SIP-EIT)

Headed by: DeitY (Department of electronics and Information and Technology)

Industry: IT services, analytics, enterprise software, technology hardware

Fiscal Incentives: Up to 15 Lakhs per invention or 50% of expenses (whichever is lesser)

SIP-EIT scheme under digital India provides financial support to Startups and MSMEs for international patent filing, funding for inventions and leverage growth opportunities.

2. Multiplier Grants Schemes (MGS)

Headed by: DeitY (Department of electronics and Information and Technology)

Industry: IT services, analytics, enterprise software, technology hardware

Fiscal Incentives: Maximum INR 2 Cr per project within duration of less than 2 years and INR 4 Cr with 3 years for industry consortiums

Multiplier Grants Schemes (MGS) is the main growth drivers of ITES (Information Technology Enabled Services) and IT companies and aims to initiate collaborative R&D between industry and institutions.

3. New Gen Innovation and Entrepreneurship Development Centre (New Gen IEDC)

Headed by: New Gen IEDC

Industry: Chemicals, technology hardware, healthcare & life sciences, aeronautics/ aerospace, defence, agriculture, automotive, construction, nanotechnology, food &beverages;, textiles & apparel etc.

Fiscal Incentives: Limited, one-time, non recurring financial assistance, up to maximum of INR 25 Lakhs.

IEDC projects are promoted in educational institutions to develop to create an entrepreneurial culture. New Gen IEDC strives to uplift knowledge based and technology driven startups by harnessing young minds.

4. Aspire (Scheme for promoting innovations and entrepreneurship)

Headed by: Steering Committee, Ministry of MSME

Industry: Agriculture, Pets & animals, health care & life sciences, social impact

Fiscal Incentives: Based on the existence of incubator project

Aspire promotes development of rural economy by supporting Agro industry which is promoted by MSME (Ministry of micro, small & medium enterprise). Aspire is one of the Startup India scheme initiative which is not only focused on solving problems, but also creating employment.

5. Single Point Registration Schemes (SPRS)

Headed by: National Small Industries Corporation (NSIC)

Industry: Agnostic

Fiscal Incentives: Micro and small enterprise will be issued tender sets for free, which means they get exemption from EMD (Earnest Money Deposit)

MSEs willing to register under Single Point Registration Schemes can either do nsic registration online or contact nearest NSIC office for registration.

6. Infrastructure Development scheme

Headed by: National Small Industries Corporation (NSIC)

Industry: Agnostic

Fiscal Incentives: A deposit of 6 months refundable rent and an office space of 465 sq.ft. to 8,657 sqft is provided. The allotment process of leasable space is based on first come, first serve basis.

This scheme by Indian Government was initiated to solve office space issues of MSMEs. The Corporation also provides office space on a lease rental basis of perspective units.

7. International Cooperation (IC) Scheme

Headed by: Office if the Development Commissioner (MSME)

Industry: Travel & tourism, human resources, events and advertising

Fiscal Incentives: The amount may differ depending on the organization category

Under this scheme the department supports travel and marketing expenditures relating to the development of MSME sector. This initiative contributes in making MSME’s capable of competing internationally by leveraging technology and other resources that are provided by Indian Government.

8. Sparsh (Social Innovation programme for products which are affordable and relevant to Societal Health)

Headed by: Biotechnology Industry Research Assistance Council (BIRAC)

Industry: Healthcare & life sciences

Fiscal Incentives- The loan and grant are provided according to the startup stage

BIRAC initiated financial and technical support social innovators who make efforts to identify the needs and gaps in healthcare. This is a promising step towards making revolutionary changes in the healthcare industry, and also giving boost to many young social innovators who bring life-saving changes with the help of various technologies.

Some Important points keep in mind:

• Most of the above scheme required a registered entity. Means you have to require a private limited company registration or some other license like GST Registration etc.

• Some scheme also required the recommendation letter from the government of India authorized incubators regarding validation of the ideas.

Final thoughts:

Apply for Startup India registration to avail these schemes or simply download startup India app and even now there a new portal as Startup India hub. Flipkart, Paytm, Snapdeal, Ola, Zomato, Quickr and Hike are few popular startups that inspire Government and innovators to shed light on such result oriented schemes. It remains to be seen what startup schemes will be coming up in future to bring new developments.

About the Author :

Devyash Patel is CEO, Founder at myonlineca which deals in online legal services across India at your fingertips.

9 big Indian startups that shut shop in 2016

While 2015 saw launch of three to four startups a day, the second quarter of 2016 witnessed a lot of layoffs and shutdowns.

While 2015 saw launch of three to four startups a day, the second quarter of 2016 witnessed a lot of layoffs and shutdowns. Lack of funds, plummeting sales and rising competition were the major reasons for the shutdowns. 2016 was ‘deadly’ especially for food startups such as TinyOwl, Dazo, ZuperMeal and many others.

Here are 9 leading startups that shut shops in 2016:

1. TinyOwl

Food-ordering firm TinyOwl shut down its operations in May in all 11 cities where it was operational, except Mumbai. Founded in 2014, the startup faced several financial problems and laid off more than 600 employees between September 2015 and January 2016. In June 2016, the company was acquired by Roadrunnr and rebranded as Runnr.

2. Dazo

Dazo, an app-based service that curated and delivered meals, shut down its operations in October this year -— barely a year after it was started. The startup was backed by bigwigs such as Google India chief Ranjan Anandan, TaxiForSure co-founder Aprameya Radhakrishna, and former Freecharge chief executive Alok Goel.

3. PepperTap

Gurgaon-based grocery-delivery startup PepperTap shut down its operations earlier this year after months of struggle to stay afloat. The company was facing tough competition from rivals including Grofers and Bigbasket. The startup was launched in November 2014 and had raised funding in four rounds from Sequoia Capital, SAIF Partners, Snapdeal and others. It had also acquired another budding hyperlocal grocery marketplace, Jiffstore.

4. Fashionara

Bangalore-based Fashionara, which was launched by former Reliance Trends CEO Arun Sirdeshmukh and former Times Internet chief technology officer Darpan Munjal in 2012, closed its business in May 2016. It raised $4 million from Helion Venture Partners and Lightspeed Venture Partners and scaled business in apparel, accessories and footwear segment.

5. Purple Squirrel

Purple Squirrel, an EdTech financial startup, backed by Matrix, closed down business in May 2016. The Mumbai-based startup was launched to connect students with industry leaders and big companies for industrial exposure and training. However, it was forced to shut down due to continuously dipping sales and increasing cash burn.

6. AskMe

The consumer internet search platform AskMe shut down in August. The company is said to have been facing severe cash crunch. The shut down is said to have triggered due to the exit of its principal investor Astro Holdings. The shutdown left about 4,000 of its employees jobless. A variety of reason, from weak technology to aggressive acquisitions, are said to be responsible for the online retailer’s failure.

Related Post: Snapdeal shuts down Exclusively.com

7. Zupermeal

ZuperMeal, a home-delivery food venture backed by celebrity chef Sanjeev Kapoor, too shut down its operations this year. The startup shut shop in May, some eight months after it raised seed funding.

8. GrocShop

The Mumbai-based startup offered grocery shopping from the comfort of homes or offices at competitive costs. The startup was founded in November 2014 by IIT-Bombay alumni Rahul Kumar and Ayush Garg. It was a part of Microsoft’s startup programme, BizSpark, and also among the 16 startups which were selected for the Google Launchpad programme.

9. FranklyMe

Another name in the failed startups list is FranklyMe, a video micro-blogging website founded by Abhishek Gupta and Nikunj Jain in 2014. It has raised $600k seed funding from Matrix partners. In another round, it received an undisclosed amount from investors. Despite the fact that it has been a well-funded company, it failed to capture the market attention and closed down all operations in February 2016.

This article was originally published in GadgetsNow.com

Impact of demonetization of notes on e-commerce and startups

PM Narendra Modi’s bold move to demonetize 500 and 1,000 currency notes as been a welcome step but may have a short term adverse impact on e-commerce companies and startups.

PM Narendra Modi’s bold move to demonetize 500 and 1,000 currency notes as been a welcome step considering the fact that it will help in curbing black money, fake notes, hawala and many such issues affecting our country.

However, this may have a short term adverse impact on e-commerce companies and startups.

As the announcement received mixed reactions by citizens, the e-commerce industry had to maneuver their strategy by terminating the Cash on Delivery (COD) payment mode as it was the most preferred mode of payment by the buyers thereby encouraging customers to choose the online payment system. COD still being one of the highest mode of payments in our country, e-commerce may see a temporary decline in the business. Though, we hope this move will lead to higher electronic payments.

Another effect could be on angel funding. Many High Networth Individuals (HNIs) who also have been angel-funding are adversely impacted by this currency demonetization and will be reeling under sense of insecurity and lower sentiments. Thus, some projects, which they otherwise would have funded, may lose out. Though we do not see any major changes in their working strategy but surely there could be some adverse effect on angel funding from HNIs, for a short term.

This article was originally published in EdVantez

Ola cabs launches its revolutionary offline services

Ola, has currently upgraded their technology and come up with a new and revolutionary feature called Ola Offline which gives customers the option of booking cabs even when they aren’t connected to the internet.

Ola and Uber have been engaged in a constant battle to outdo the other player by offering additional services and facilities across the country. However, the Indian born company, Ola, has currently upgraded their technology and come up with a new and revolutionary feature called Ola Offline which gives customers the option of booking cabs even when they aren’t connected to the internet. The feature will be available for all types of bookings- Micro, mini, prime, share and shuttle. Currently, the feature exists in the metro cities but will soon be available across all cities where Ola is available.

This feature has been introduced because even though internet penetration in the country is increasing, many small towns and cities aren’t very well-equipped with the idea of internet and how to use it. By offering this feature, Ola will help them with their struggle with the internet.

“As the country ushers in the digital revolution with projects such as Digital India and Smart Cities, the way users experience technology is changing. While connectivity continues to be an infrastructural challenge, we are constantly building innovative technology that helps fill the gap, and the launch of the ‘Offline feature’ is a major step in that direction. We understand that while an Ola might be available around you, a working Internet connection might not always be. Ola Offline will now plug this gap.” – Ankit Bhati, CTO & Co-Founder

The process:

When the booking option on the app fails due to bad/no internet connectivity, you get two options: Retry or Book via SMS. Choose the latter and you will be able to see a pre-entered text message requesting Ola services. Send this message and once received by the company, you will be receive an SMS with the information about the nearest cabs across the various categories. Select the preferred cab category and in some time, you’ll receive the details about the cab and the driver and the driver can locate the user through GPS tracking system and via call.

Meanwhile, if your internet connectivity resumes, all features will be available on the app again.

Is India’s great startup boom has come to an end?

After a sustained funding frenzy, investor enthusiasm for the country’s tech startups has fallen sharply this year. Weaker firms are laying off employees and some have closed up shop altogether.

Startup funding in the second quarter plummeted to $583 million from its recent peak of nearly $3 billion in late 2015, according to CB Insights. It’s a sharp turnaround for a sector that attracted more than $8 billion last year.

“We’ve already felt the effects of what that bubble would be,” said Arjun Malhotra, the co-founder of Indian startup incubator Investopad. “A lot of the companies that were high performing, they are crashing now.”

The slowdown has occurred despite favorable conditions: The broader Indian economy is booming, and inflation is low. Global investors are on the hunt for the next Facebook or Amazon.

With 1.3 billion citizens and a surplus of skilled IT workers, Indian startups proved irresistible to many investors. The success of homegrown e-commerce darlings Snapdeal and Flipkart, and ride-sharing app Ola, added credibility.

Yet there is a simple explanation for the reversal: Investors say India’s tech sector experienced a classic bubble, similar to the one that rocked Silicon Valley when it burst in 1999.

“I think India is going through its first bubble,” said Kashyap Deorah, a former Silicon Valley entrepreneur who now runs a startup in Delhi. “It is a bubble and it is normal.”

Already, the downturn has claimed some high-profile victims.

Peppertap, a grocery delivery app financed by Sequoia Capital and Snapdeal, shuttered its delivery operations and “pivoted” to logistics. Another funded grocery delivery startup, Grofers, shut its operations in nine cities across India.

In late 2015, Indian unicorn Zomato laid off about 300 staffers.

Young techies have been among the hardest hit. Some university graduates even had job offers rescinded by tech startups, according to Gurumurthy Balasubramanian, the chief placement officer at Birla Institute of Technology and Science.

“Six or seven companies have done this to our students and students from [the Indian Institute of Technology],” he said. “In the last six months, the last nine months, things were slowly deteriorating.”

Some industry insiders believe the crash is a needed wake-up call.

“I think it’s better for the market now that startups are not getting money mindlessly,” said Abhishek Gupta, the chief operating officer at incubator TLabs. “What I see [now] is money being well spent.”

Foreign investors agree that there are still opportunities worth exploring.

“Quite honestly, we expected this to happen,” said Sumant Mandal, managing director at March Capital, a U.S.-based investment fund based in Santa Monica, Calif. “There’s definitely a slowdown.”

Mandal has been investing in Indian startups for over a decade, backing electronic payments firm BillDesk and online auto classifieds company CarTrade. March Capital invests in one or two big deals in India each year, representing about 20% of its overall fund.

“I don’t think there’s any doubt that the market is going to be an important one,” Mandal said.

Image credit: 500px

Cab market in India and how CabMe is disrupting it

In the wake of the hour, CabME, a homegrown cab service startup, is all set to create waves in the Indian travelling domain.

Cab market in India has indeed gained its swing. It is estimated that its worth more than around 10 billion dollars, just within the country and this year around 600 crores of Indian rupees has been pumped in the Indian radio taxi market. At this time when the cabs are taking the place of the traditional autorickshaws, buses and trains, a lot is expected from the Cab service portals of the country.

Unfortunately, the so called Biggies in the cab market have done their fair share in disrupting the newly mushrooming faith in cab travels among the commuters. In the wake of the hour, CabMe, a homegrown cab service startup, is all set to create waves in the Indian travelling domain.

So what’s so different about CabMe?? Well…CabMe comes with all new facilities that effortlessly addresses the woes of its passengers. This startup stands out with it being affordable, safe and one stop for all your travel needs. In the upcoming new website and app services which are going to be launched by the end of october or most probably, “due to high demand”, for this Deepawali, you can book almost everything, be it Cabs, Flights, Bus, Hotels, Holiday Packages, Travel accessories and what not? Surprising..? Oh yeah…

Just like its inceptors, the diligent BITSIANS, even CabMe focusses on the needs of the students and the intercity commuters. The students who face troubles in acquiring train tickets or bus tickets to travel back home, will look upon CabMe as a saviour in the eleventh hour. With CabMe, cab travel won’t be an expensive affair. The best part is that you can customize your travel…like choose the road you want to travel, choose whom you want to share your cab with and post your experience on the webpage, post your cab details in search for pooling partners…all this without burning a hole in your pocket. Another scintillating feature is the packages that you get to avail in your travels,there are plenty of intercity and intracity packages, hourly based packages and many more… and soon you can also avail self-drive option too. Interesting? you bet..It is….Thus CabMe will be one stop solution for all the types of travels at low fares.

CabMe is a humble startup that holds the comfort of its customers in travelling as its main objective. It already has many feathers in its hat for a budding startup as it is They received first prize at Sandbox StartUps And Accelerators competition, also the best scalability award at the Startup-Utsav and also won the Pitch Your Product competition in IIT Kanpur. They are now funded by Sandbox Startups which is in collaboration with Microsoft ventures and have been selected for startup accelerator espark virdinan accelerator recently.

In just only one year has thousands of customers and has garnered a revenue of 30,000 USD with a team size of fifty. It has its goals in place and aims to cater 10,000,000 customers and garner a revenue of more than a billion in a period of just 3 years. Not only this, it also aims to expand its business from presently 38 Indian cities to the international market and make its global presence felt in the future.

Well this is just the beginning. With thousands of users already booking and well trusted cab drivers, CabMe has become another name of safe travel. So those long travels are no more a strenuous deal…neither are the shorter ones anymore. And what comes handy? it’s that you get to all this at affordable prices…Oh yes, good things can happen to those who book CabMe.

With all these facilities CabMe is grabbing eyeballs and faithful customers in the Cab travel industry. So, buckle up folks, for a new chapter in cab travels of the country that will be known long for the comfortable travelling it provides and a successful saga that it will turn out to be. And the next time you think about Cab, think CabMe.

Disclaimer: The views and opinions expressed in this article are those of the CabMe team and do not necessarily reflect the views of OurOwnStartup.

5 Creative startups from India that you should know about

Creative startups from India that are courageous and innovative in their work.

India’s startup culture is on the rise. Many young entrepreneurs and creative thinkers are starting up as a way of building something new and creative, and relevant. Unlike the earlier times, it’s not the Indian dream anymore to become part of the mainstream or join an established MNC. To start something of their own is the predominant passion for youngsters today. Curious to know a little bit about what the youth brigade has been coming up with off late? Here are five creative startups from India that you should know about.

1. Little Black Book

Little Black Book, based in Delhi, is a lifestyle guide to everything exciting in the city of Delhi. It was started in 2012 by Suchita Salwan who began to document her experiences living in the city of Delhi. Little Black Book has recently launched their website for Bangalore as well. They are a platform for information regarding events, travel, culture, food, shopping, and more. It’s the perfect guide for anyone wanting to keep exploring the city. The LBB team also gives you the opportunity to explore the city along with the LBB crew.

Visit the website: https://lbb.in/

2. Jamun

Jamun is a startup in Delhi that specializes in digital film making. They are located in Hauz Khas Village in New Delhi. Their film making operations range from advertising to political and social work-related production. Ayesha Sood, who is the director, has received many positive reviews for her work, which has been recognized at several film festivals across many countries around the world.

Visit the website: http://www.jamun.net

3. Renomania

Established in 2015, Renomania is a platform that offers people unique and creative ways to design their homes. Ritu Malhotra, the co-founder of Renomania, has nearly 26 years of experience in this field. The content on this platform is a result of years of experience and knowledge that Ritu Malhotra has accumulated during her time in this field.

Visit the website: https://renomania.com/

Related Post: Strategic marketing tips for startups

4. Hatti Kappi

Hatti Kappi began in 2009 with an investment of Rs. 1 lakh. It was started out under the staircase of a building in Gandhi Bazar in Basavangudi, Bangalore. Today, Hatti Kappi sells at nearly 25 outlets and employs about 120 people. US Mahendar, who started this up, says that his intention was not to compete with other coffee brands. Hatti kappi is not meant to be a lounge for people to relax for long, like many other cafes are. Instead, it’s a quick-bite outlet for people to have a refreshing beverage as they pass by it.

Visit the website: http://hattikaapi.in/

5. Culture Machine Media

Culture Machine Media was started in 2013 by Sameer Pitalwalla and Venkat Prasad. Culture Machine Media has many channels on the internet like Being Indian and ‘What’s Trending India’ that have received nearly a million subscriptions on YouTube. Their entertainment platform has become a popular one, especially among the Indian youth.

Visit the website: https://us.culturemachines.com/

Women-focused jobs portal Sheroes gets $1.8 mn from Lumis Partners, others

Sheroes, a career platform for women, has raised Rs 12 crore in a Series A round of funding led by Gurgaon-based investment firm Lumis Partners.

The HR Fund, angel investor Rajul Garg and existing investor Raghav Bahl-led Quintillion Media also participated in the round, according to a press statement.

The transaction is part of a larger commitment, it said, without elaborating.

Sairee Chahal, founder of Sheroes, said the startup will use the funds to invest in technology, resources and growing its business.

Utkarsh Joshi, CEO of The HR Fund, said Sheroes is the fund’s fifth investment and is a “perfect fit” for its portfolio.

As part of the investment, Sandeep Sinha, co-founder and managing partner of Lumis Partners, and Pankaj Bansal, a promoter and director at The HR Fund, will join the board of Sheroes.

The startup, operated by Applied Life Pvt. Ltd, had last year raised angel funding from Quintillion Media, 500 Startups and a clutch of investors including Paytm’s Vijay Shekhar Sharma, Google’s Rajan Anandan and Flipkart’s Binny Bansal.

Related Post: Why Big Bazaar tied up with Paytm

Launched in January 2014, the startup works with companies to provide support for their workforce needs and helps them build women-centric channels. It claims that about 12,000 companies actively use the platform. It also runs a career support helpline via phone and app.

Flipkart launches Fliptech and Hobby Hub to help customers make more informed purchases

To stay ahead in the e-commerce game and in order to ramp up its services, Flipkart has today launched a curated product guide called Fliptech, to help its customers make informed purchases.

This outlines content across the categories of Electronics, Fashion, Mobiles and Home.

Fliptech is a complete gadget guide covering latest launches from cameras to laptops. With this feature, customers can check all the recommendations for a product and see the best buy for the day. With this latest addition, Flipkart’s objective is to help customers discover relevant products and decode high-value purchases and also encourage adoption of online commerce.

Additionally, in an attempt to familiarise and engage with customers across various products of interest, Flipkart introduced ‘Hobby Hub’. It will help customers learn more about their interests, likes and hobbies and will direct them to make purchases based on their preferences.

The customer-friendly Hobby Hub allows customers to deep-dive into a hobby of their choice. Showcasing the different facets of each hobby (eg: photography broken down into wildlife, food, people and nature), Hobby Hub simplifies purchases based on one’s hobby and directs them to the best deals on the must-have products.

Adarsh Menon – VP, Electronics and Auto said, “Studying the customer-buying patterns, we observed that more than 50 percent buyers believe in background research before finalising on a product, and this trend is across all categories. With these two new features, Flipkart aims to offer an end-to-end shopping experience right from discovering content to check-out.”

Fliptech and Hobby Hub is currently operational and can be located under the store section on Android and iOS across app and website.

There have been quite a number of changes at Flipkart after Binny Bansal took over as CEO. The e-commerce business, which heavily relies on discounting and luring customers, strengthened its logistics business and had also said that if its other categories did not turn profitable, they will be shut down in the next six months. Recently, it shut down Ping, a social commerce feature that allowed users to interact in real time and decide better. Notably, it had also shut down Nearbuy, its groceries delivery app after piloting it for six months.

Its payment gateway PayZippy, which was launched in July 2013, shut down in August 2014. Flipkart also stopped the sale of its e-books in December 2015.

The e-commerce pioneer, after facing a series of markdowns,, recently received a mark-up from Fidelity Rutland Square Trust II, a mutual fund investor in Flipkart. On the other hand, the firm again faced a markdown from T Rowe Price and now stands at a valuation of around $10 billion.

This article was originally published in YourStory

For Indian e-commerce, the choice is between discount and bleed or profit and die

According to a 2015 report by Goldman Sachs, 30% of an Indian e-commerce company’s expenses are towards discounts.

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You can still read the content, here

Related Post: Outlook of Indian eCommerce in 2016

Image credit: dworzynska.com

A report on Startup India: DIPP secretary Ramesh Abhishek

The new DIPP is serious when he takes the initiative of encouraging the budding startups in the country.

The new DIPP is serious when he takes the initiative of encouraging the budding startups in the country. Every aspiring entrepreneur waits with bated breath to know what the whole fuss is about. We have almost all details covered for you about the startup scene in India.

Ramesh Abhishek succeeded DIPP Amitabh Kant as the latter went on to become the CEO of Niti Aayog. Startup India is the current Prime Minister’s on-going project in which he aims to give a boost to Indian entrepreneurs in order to encourage them to succeed and build upon their innovative ideas.

“The government is very keen to promote the startup sector. A lot of good things are already happening without government intervention, and what the government is doing is stepping startup to provide a much better enabling environment for startups. Much of what was announced this January is already underway” Abhishek.

“Taxation and incentives (for startups) were the big areas. Startups registered and incorporated from 1st April 2016 are eligible for tax incentives,” he adds.

The Government in order to continue with their initiatives has provisions of tax exemptions for startups which register from 1st April, 201- 31st March, 2019. The startups can also avail tax benefits and capital gains tax benefits for entrepreneurs who are willing to invest in the fund of funds which is to be set up by the government. Work is in full swing and SIDBI is aiming to set up an Rs 1,100 crore worth of fund of funds. The DIPP also proudly mentions that they’ve received over 571 applications. Since, this scheme is an extremely new and complicated one, Startup India Hub is also providing help in form of support and guidance to people who are aspiring to register to the scheme.

To make things easier, all aspiring entrepreneurs who want to register can call on 1800-11-5565 or mail the DIPP at dipp-startups@nic.in or get in touch with him on Twitter. This helpline is working because they’ve received over 10,000 calls which have been attended to. The startup hub is constantly tracking data and is open to suggestions. They are also looking to add more new features which will probably have training modules and financial tool modules in the market. The DIPP claims that the government’s job is to encourage entrepreneurship and like in many countries, the government has played a critical role, they want to do the same in India.

Seven proposals for research parks and 16 proposals for technology business incubators and startup centers have been recommended by the National Expert Advisory Committee which the Startup Hub is looking at. Also, they are fast tracking the patent applications and have set up 250 expert panels which are supposed to provide consultation. Procurement norms have also been relaxed for startups who want to register. The DIPP requests the people to have faith in the government because they want this scheme to be successful so that startups can be the new game-changers in the Indian market.

Because the Hub is not overly optimistic and know that all ventures will not succeed, the government has come up with the idea of Insolvency and Bankruptcy Bill 2015 to help business that aren’t doing very well a chance to wrap up in three months.

“We want to build a solid environment and infrastructure for entrepreneurship, focus on improving the ease of doing business, so that startups have no reason to register in Singapore, for example. We are working to remove all the bottlenecks,” Abhishek promises.

This looks to be a promising initiative and is definitely going to give a boost to all startups which are aspiring to make their innovative ideas work. If you have an idea and entrepreneurial qualities, this is the time to test them.

This startup helps the online shoppers with latest deals and discounts

Online shopping has become one of the fastest and convenient ways to save time on your shopping activity. A lot of offline stores have started off with their online version as well to entertain people to do more of online shopping. CouponRani is a platform where the online shoppers are made aware of the latest deals and discounts from these online stores. Most of the online companies and stores come up with sales and deals as part of their way to clear off the stock and even to promote any of their new launches. Most of them being a startup do not spend much amount on promotion and some do not do any kind of promotion. CouponRani is a website which collects and aggregates all the coupons, deals and offers from various online stores, so that users come aware of the sale.

Ravi Trivedi, who is the founder of Srijan Capital, which focuses on building startups and who is also an angel investor, founded CouponRani in July 2012. It was started off with just two people – Mr. Ravi Trivedi, the managing director and Mr. Sai Kumar Sarkar, who is the General Manager of CouponRani. Now, they are a team of 15 members who strive hard to make each of their users save more through online shopping. Ravi remembers that there was a huge demand for online shopping when he decided to start CouponRani and now it is one of the top most coupon sites in India that helps all crazy online shoppers to get extra savings on every purchase they make.

CouponRani is not just a coupon site for all the exclusive coupons and deals from stores but, it is also a platform which offers a differentiated set of other products such as a)Colors – their blog where you get to read articles on fashion, health, beauty, lifestyle, travel, and entertainment, b) India Discounts Chrome Extension – they have a chrome extension that makes coupons available to the user without them leaving the shopping site, c)Coupon API – they also have an API for their B2B partners, who give coupons to their site for product enhancement and revenue increasing.

Sai, the General Manager of CouponRani says that CouponRani kick started from a scratch and this helped them to grow more in every aspect, which has led to what they are today. He shares all the credit to his hardworking members, whom he believed supported him in thick and thin, to grow substantially. Now, they are working tremendously on growing their product and technology team and expanding their Digital marketing team as well for better reach out.

“Working for own startup is indeed a challenge, but it gives me the freedom to change things, that needs immediate action. My responsibilities are 10 times more but, I am able to incorporate things in the right way with a hardworking team,” adds Ravi.

Ed-tech firm Transweb raises funding from 500 Startups

Delhi-based educational-technology firm Transweb Educational Services Pvt. Ltd has raised its Series A round of funding from 500 Startups, a Silicon Valley-based startup accelerator and early-stage VC fund house.

The transaction was routed through 500 Startups IV LP, a $200 million seed fund managed by 500 Startups Management Co. LLC.

Transweb, which provides online tutorial services, has raised over Rs 80 lakh ($120,000) from the US-based firm on a fully diluted basis through a preferential allotment., according to VCCEdge, the data research platform of VCCircle, based on filings with the Registrar of Companies (ROC).

500 Startups has picked up 6.48% as part of the deal. BMR legal acted as legal adviser to the investor in the transaction.

The company, which was launched in 2006 by IIT Delhi alumni Aditya Singhal and Nishant Sinha, provides online tutoring services through its five websites—askIITians, eMedicaPrep, transtutors, transwebtutors and mycollegesabroad.

Aditya Singhal And Nishant Sinha,
Co-founders, Transweb Educational Services

When contacted, Singhal confirmed the development and said that the funding will be used for marketing of transtutors and increase its team strength. Transtutors is a question-and-answer format website for homework help.

Singhal said transtutors is venturing into Chartered Financial Analyst (CFA) coaching this year.

While Singhal had earlier served global management consulting firm Kurt Salmon Associates, the other co-founder and his batch-mate Sinha was previously working with retail consultancy firm Technopak before launching this venture.

An email query sent to 500 startups, however, didn’t elicit any immediate response.

While askIITians caters primarily to students preparing for engineering entrance exams like the Indian Institute of Technology Joint Entrance Examination (IIT-JEE) or All India Engineering Entrance Examination (AIEEE), eMedicaPrep reaches out to medical students taking entrance exams such as All India Pre Medical Test (AIPMT) or All India Institute of Medical Sciences (AIIMS).

On the other hand, Transwebtutors offers paid online tutoring in technical subjects and mycollegesabroad provides consulting for students planning to study abroad.

The company posted net sales of Rs 13.2 crore in FY2014-15 compared with Rs 10.4 crore a year before, according to VCCEdge. The financials for FY2015-16 couldn’t be immediately ascertained.

500 Startups fund

500 Startups was founded by former PayPal executive Dave McClure in 2010. Its network includes about 750 startups, 200 mentors and 1,000 entrepreneurs globally. The fund typically invests up to $250,000 in a company during the first leg. Its preferred sectors include financial services, gaming, payments SaaS, and education on mobile and web.

It has recently launched a $25 million regional fund focused on India, Sri Lanka and Bangladesh. The 500 Kulfi fund, as it is christened, is sector-agnostic but will focus on fin-tech, ed-tech, health and wellness, data analytics, content and software-as-a-service segments.

500 Startups has invested in about 50 companies in India since 2011 including ZipDial (acquired by Twitter), SourceEasy, Instamojo, CultureAlley, SilverPush, KartRocket and Headout.

Other deals in space

Investors betting on companies such as Transweb are seeking to benefit from the opportunity arising from the gap in demand and supply of jobs that is prompting millions of jobseekers to enroll into test prep centres to prepare for competitive exams.

“Disproportionate demand and limited supply forces students to approach these coaching centres,” said Narayanan Ramaswamy, partner and head of educational skill development sector advisory at KPMG in India.

The past two months have seen considerable activity in the ed-tech segment. Ed-tech startup Byju’s has recently raised $75 million from Sequoia India and Belgian investment firm Sofina.

Mohandas Pai and Aarin Capital seed-funded ed-tech startup Oust Labs Inc, which helps students prepare for competitive exams using mobile gaming technology.

Earlier this year, financial services and analytics education startup Imarticus Learning raised $1 million (around Rs 6.7 crore) from a group of investors including VC fund Blinc Advisors.

In late February, Bangalore-based ed-tech firm Carveniche Technologies Pvt Ltd secured angel funding from Calcutta Angels, Lead Angels and a bunch of wealthy individuals.

This article was originally published in Techcircle.in