According to a recent survey conducted by NASSCOM, it has been revealed that India has swung up to the third position in giving start-ups a strong foundation to grow and develop. The Union Government’s focus on Start up India, Stand up India has made aspiring entrepreneurs take up the challenge and establish their own business.
NASSCOM survey also indicated India as one of the five largest start-up communities around the world that led to the establishment of more than 4,200 start-ups, which accounted to a 40 percent growth until the end of 2015. Increased government’s focus and reasonable VC/PE interest expects India to enjoy the same pace of start-ups’ growth and even more in 2016.
Some of the promising start-ups to look after in 2016 are as follows:
Faircent.com is a platform that allows borrowers and lenders to come in direct contact. Rajat Gandhi, Vinay Mathews and Nitin Gupta founded the venture a year ago in Gurgaon, Haryana. Faircent.com helps borrowers with high interest rates and also makes lending convenient for lenders who get marred lesser returns because of inflation.
The venture allows both auction as well as reverse auction. With 23 employees at present, Faircent.com entails Rs. 2 crore of loan disbursement with annual run rate of Rs. 12 crore. The venture targets disbursal of loan worth Rs 2, 000 crore in four years in more than 200 cities.
Aarin Capital’s Mohandas Pai, M&S Partners, Devesh Sachdev and Ashish Tiwari are the investors who spent in the venture from time to time.
Launched in July 2015, Bolt Red Streak is the first ‘smart’ mobile-phone charger that has been developed for motorbikes. With a special detachable design, it helps in prevention of theft and misuse of the device. CEO and Co-founder Satyajeet Mohanty and Ronak Kumar Samantray have jointly put their efforts to establish the unique venture. Samantray is the co-founder of NowFloats who serves as the principal advisor and co-inventor of Bolt.
The Hyderabad-based venture records sales of 350 units in a month. Currently, there are five members in the start-up. Bolt is 2 A charger that does not only allow charging a phone fast but also helps in tracking entire ride with the help of a Bolt Rider App’s route map that provides details about total distance covered along with the average speed at which the bike runs.
Bolt has around 30 authorized dealers all over the country for distribution of the product, which they want to increase to 100 and even more. There has been an increasing online demand for the unique charger via websites like Flipkart and Amazon. The venture raised around Rs. 25 lakh from friends and family at initial stage and it continues to do so even now.
3. Wow! Momo Foods Pvt Ltd
Wow! Momo Foods Pvt. Ltd. is a quick food service where you get to enjoy several innovative varieties of momo. Sagar Daryani and Binod Kr. Homagai are the founders of the food chain service. Along with variety of momos, it also offers Tibetan cuisine. You get a chance to dine-in or get your food delivered as parcel. They also have a unique dessert in the form of momo called chocolate Momo.
Momo Foods is headquartered in Kolkata and functions in cities like Delhi, Chennai, Kochi, Bangalore and Pune. It derives more than Rs 3.5 crore in a month. Curerently, there are more than 700 employees. It aims at reaching a count of 100 restaurants with an annual revenue generation of more than Rs 80 crore in 2016-17.
Indian Angel Network led and operated by Naukri.com’s founder Sanjeev Bhikchandani, Saurabh Srivastava and Ashvin Chadha helped the venture raise ‘Series A’ funding worth Rs 10 crore at a 100 crore valuation.
Founded by Anoop Goyal and Prakash Sikchi, Inspirock helps travellers plan holidays using technology. The venture helps people to plan their vacations in seconds according to proper logic and preferences made by them. It is different from using computer technology that considers iterations for a 10-day trip to France and give trillions of options as per the number of permutations that ultimately made the process too complicated.
With 15 members, the venture operates in the city of San Francisco. There are about 25,000 users operating on the platform from across 190 countries to plan their vacations. Around 11,000 destinations are covered by Inspirock across Europe and US and it plans to cover the rest of the world by next year. The venture has raised $3 million as seed funding from MakeMyTrip.
EduKart is a platform that helps a student from deciding a course to getting enrolled to the same. It is founded by Ishan Gupta and is supported by investors like Yuvraj Singh. There are currently 50 members operating in the Delhi-based venture. It constitutes a special junction where students can enter into their desirable degree, diploma or certificate courses conveniently.
EduKart plans to introduce more courses and course providers and build its own image in the education industry that captures around $60 billion of the market. The venture will extend its courses from 2,500 to 10,000 in the coming months and hopes to increase the enrolment of student to course by 300 percent. The venture raised $1 million pre series A funding in June 2015, while $500K by Angel in May 2013. In addition, seed investment of $500K was received in April 2011.
The investors of EduKart include around 500 start-ups like YouWeCan Ventures, Paytm led by Vijay Shekhar Sharma along with Manish Kheterpal, Amit Patni, Sasha Mirchandani, Vibhor Mehra, Arihant Patni and Holostik Group.
6. Chaayos (Sunshine Teahouse Pvt. Ltd.)
Chaayos transforms the tradition ‘chai adda’ into a contemporary form. Nitin Saluja and Raghab Verma has launched the New Delhi-based venture to present 25 varieties of tea with an option of customization of them in 12,000 ways. The start-up is operational in Gurgaon and Noida as well besides Delhi. They have the Chaayos App to help customers put orders conveniently apart from calling them directly. The venture also sells packaged ‘chai patti’ to enable customers to prepare tea available in e-commerce sites like Amazon.in and Chaayos cafes.
The start-up has captured 600 customers who walk into the cafes and has seen a steady growth on a monthly basis as far as revenue is concerned. There are more than 250 employees across 13 outlets based in Delhi and Mumbai. However, it plans to expand the company to 25 outlets by the end of the year. It has raised $5 million from Tiger Global.
7. SuVitas Holistic Healthcare
SuVitas Blue Ocean Strategy is a platform that provides personalized care to patients. It makes available collaborative care from therapists, physicians, dieticians, nursing and emotional counsellors. The patients get a homely relaxiung environment during theur 2-16 weeks’stay at the health care centre.
Founded by Flt Lt Bipin Pendyala, Dr. Ramesh Babu and Sateesh Andra, the Hyderabad-based venture has witnessed current run rate of Rs 22 lakh per month. However, it is now aiming at a run rate of Rs 55 lakh per month in the coming months. With 35 direct and 25 indirect employers, the venture is now planning expansion into Mumbai and Bangalore in 2016. At present, it has 50 room/bed facility, which it hopes to increase to 2,000 bed capacity across the country in four years.
The venture has served around 65 people so far since six months of its operation. Almost Rs 5 crore funds have been raised by the three founders personally. However, the team aims at raising external funds for expansion soon.
Founded by Rohan and Swati Bhargava, CashKaro.com is a website that offers coupons and cashback facility to users. The Gurgaon-based venture allows subscribed members to get up to 50 percent extra cashback on online shopping they do from around 1,000 shopping portals. The cashback applicable to users are paid to bank accounts of users in the form of real cash. With efforts of around 60 employees, the venture reaps a revenue of around Rs 60 crore.
The website looks after 7,000 transactions a day and has been growing with 30 percent every month. There are more than 10 lakh members, 1,000 retailers who share this online platform with a view of more than 50 lakhs gathered in a month. The venture plans expanding its reach across Southeast Asia by launching similar sites. It expects to reap more than Rs 1,000 crore GMV with a credit of almost Rs 45 crore as cashback in the coming months.
Kalaari Capital helped Cashkaro.com to raise $3.8 million as Series A in November, while an angel investment of 75,000 in 2013 was offered by the group of London-based investors, belonging to companies like Goldman Sachs, Paypal, Investec, etc.
Founded by Azhar Iqubal, Deepit Purkhayastha and Anunay Pandey, Inshorts provide a range of curated news of the day in 60 words throughout 10 news categories. It aims at making people aware of the important news across categories like politics, business, sports, etc. The Noida-based venture gets over half a billion page views per month. Currently, there are 60 employees in the venture.
The venture aims at increasing its viewer base to 5 million very soon. It has also launched its vernacular market by starting Inshorts Hindi. It aims at launching its Tamil, Bengali, Kannada and Marathi versions very soon. The venture raised its seed funding from group of angel investors in July 2014. The members included Ankush Nijhawan, Manish Dhingra, Gaurav Bhatnagar in collaboration with Flipkart’s co-founders Binny and Sachin Bansal as well as Times internet.
Inshorts raised $4 million as Series A in February by Tiger Global along with participation from Redbright Partners, Binny Bansdal and Sachin Bansal. In July, it raised Series B fund by Tiger Global again.
SilverPush was founded by Hitesh Chawla and Mudit Seth in 2012. It is a technology platform that helps brands to connect with the customers. The technology entailed in the venture allows television to emit ultrasonic beep that enables the smartphones to track how effective a market campaign is. The Gurgaon-based venture has 40 employees at present and it reaps a revenue of almost $5-10 million.
The core technology has 7 patents filed for and the venture is looking forward to develop on international platform. The tech-savvy start-up has raised $2.5 million in seed investment that came from IDG Ventures, M&S Partners, 500 Start-ups and Unilazer Ventures.