Ahmadabad is making a mark on the startup map of India with city-based entrepreneurs grabbing the attention of angel investors and venture capitalists (VC). This is evident from a dozen deals involving startups in 2016. The city drew angel and VC investments of over Rs 215 crore in 11 deals in the first half of 2016. The activity seems consistent because twelve deals worth approximately Rs 220 crore had taken place in the same period of 2015.
However, industry players say that the number of deals could be higher than 11. In the biggest capital infusion this year, Lendingkart Technologies Ltd, which provides finances to small and medium enterprises (SMEs), raised Rs 205 crore from venture capitalists in the second round of funding. Other startups from the city that have received funding include Collegebol, Matrubharti Technologies, Smytten and Ninth Ray Household Services Pvt Ltd.
Here are five of the most promising startups from the city of Ahmedabad;
Lendingkart Group aims to make working capital finance available at the fingertips of entrepreneurs, so that they can focus on business instead of worrying about the gaps in their cash-flows. Lendingkart Technologies Private Limited is a fin-tech startup in the working capital space. The Company has developed technology tools based on big data analysis which facilitates lenders to evaluate borrower’s credit worthiness and provides other related services.
Racoon is fast-growing brand of phone cases in the Indian designer accessories market. Racoon offers approximately a million unique products, which are available for sale online and have sold over 50,000 units from October 2014 to February 2016. Racoon currently has a zero inventory model (printers hold inventory).They are working with independent designers & printers on our platform to scale our business.
Cuztomise is an enterprise SAAS field service management platform for agencies to completely automate their operations, from booking to delivery, completely eliminating friction from their operations and improving productivity and profitability. Cuztomise provides access to superior technology for SMB’s which cannot afford to build it and brings them at par with their bigger counterparts.
At consumer end, it eliminates user frustration of scheduling a service by providing a completely automated way of booking a request and constantly keeping consumer updated about ETA’s The consumer front end gels up nicely with the back-end which is used by dispatcher and agents on field to keep track of jobs, assets in real time and handle any dynamic rescheduling. Moreover its inbuilt communication platform allows engagement of agents and experts over a unified channel which is then used to build a knowledge base. It is currently available as an application on the app store.
Jolly Food Fellow
Jolly Food Fellow is a venture of passionate young entrepreneurs who wish to bring the best food experience to all the food lovers. It partners with food entrepreneurs who love to make food that satisfies the food connoisseur. It helps them know more about their consumers and gives them analytical insights on how they can service their consumers better than ever.
Jolly Food Fellow is the brain child of Rajiv, Niraj and Khushboo. It is owned by the company TECHRECO Solutions Private Limited. The startup recently raised Rs.2 crores from a new startup incubator, the 1947.
Zebpay is a fast and easy way to buy and sell bitcoins in India. Zebpay is a simple mobile bitcoin wallet that enables bitcoin transactions using mobile number without any complexities. Zebpay is aimed at bringing bitcoins in our daily life by making it as simple as instant messaging, without the need to understand complex bitcoin addresses, backup your wallet or be scared of losing bitcoins.
The company said it launched operations in 2015 to simplify bitcoin trade along with providing a seamless experience to Indian audience.
Claiming that the country was at the cusp of a new financial revolution, the company’s co-founder and chief operating officer Sandeep Goenka said customers are opening up to non-traditional investments measures and it is targeting to take the total downloads to over 1 million by September 2017.
The company statement said that it has already raised $1 million in a round of funding in last January.