In our series of Rising stars from cities, today we take a look at some interesting startups from the heart of the country. A majority of the 500+ startups in Madhya Pradesh are in Indore and Bhopal. From a traditional business city, high on food and Maheshwari sarees, to now a vibrant ecosystem of technology and tech-enabled startups, Indore has truly arrived.
Headquartered in Indore, this startup helped mark the city on the global map by becoming the world’s second largest viral content company. Bootstrapped from November 2014, it gets 60 million unique visitors per month and had a revenue of Rs 30 crore in the last financial year. Its worldwide rank is 260 in terms of traffic, content, search engine optimization and reputation. Founded by brothers Vinay and Parveen Singhal and their college friend Shashank Vaishnav, WittyFeed has successfully beat India’s largest content company ScoopWhoop and is now only behind world leader Buzzfeed. The company that shifted to its new 10,000-sq. ft. swanky office recently. The highlight of the company is its progressive work culture.
Founded by Anand Katakwar, RetailReco is one of the few analytics startups in the region. Incorporated in December 2012, it offers an omnichannel personalization product suite for retailers through its patent ‘pending predictive analytics algorithms’ using big data technologies. The startup has developed a predictive analytics tool that enables retailers – online and offline – make accurate predictions about the future purchases of their old and new consumers. These predictions are based on their breakthrough in predictive analytics, for which they have now filed a patent. With over 35 customers in the USA, India and Australia, Retail Reco is challenging traditional methods of e-commerce customer acquisition. Their product suite with American clients has been a hit and the startup plans to target more overseas markets this year.
Founded by Ishan Vyas, Anurag Gupta and Priyanshi Choubey, Instacar is a marketplace for outstation taxis founded in February this year. Due to lack of standardized rates, last-minute planners or frequent travelers often end up paying exorbitant amounts of money as their bargain ability diminishes at the time of need. They are never aware of how the car would turn out to be. Following a rigorous 15-point quality scale for standardizing outstation taxis, InstaCar is solving the problem of getting cars for outstation trips. Within three months of its launch this year, the Indore-based startup has 500+ cars on board in Madhya Pradesh itself. Instacar has more of an AirBnB model where users get to see and choose the exact car. Since Ola recently launched its outstation taxi services, Instacar is open to list Ola cars as well. Several investors from India and Dubai have shown interest in investing in Instacar.
Before Jugnoo came in action and Ola/Uber were establishing their operations. TukTuk started in Indore with Auto-rickshaws and bike services via app. Founded by Amol Vaidya, TukTuk gives tough competition to big boys. TukTuk promises a safe, secure, clean and hygienic ride. TukTuk’s drivers are professionally trained and their auto-rickshaws and bikes undergo stringent quality checks.
Valued at $150k, TukTuk was recently able to get a funding of $80k.
Founded by Avinash Mahajan, Himanshu Sharma, Alok Kumar, Chetan Pushpad, and Jitendra Sharma this January, Med108 provides ambulance services right in the application, a service available within 15 minutes. Apart from doctor’s appointment, discounted medicines and doorstep pathology facilities, Med108 also provides a comprehensive live blood donor list, which updates automatically at the time of sign-up. Med108 is planning to raise Series-A funding and is in talks with various investment firms. It aims to expand to other Tier-II cities within the next six months and to other 45 cities within a year. The platform has more than 2,500 users and 120 paid service providers in just five months.