India has witnessed a remarkable growth in the start-up ecosystem over the past few years.
India has quickly grown to be the third-largest base for start-ups with over 5,200 companies which have been recognized as tech start-ups – KPMG Report
India has witnessed a remarkable growth in the start-up ecosystem over the past few years. The two most significant factors driving the growth of start-ups in India are consumerism and the digital revolution that has embraced the entire country.
Encouraging government initiatives like the Start-up India, one tax platform (GST) and the famous Make In India campaign has helped many start-ups to seed, bloom and prosper. According to a report by the Make In India portal; India is the 2nd largest start-up hub in the world and around 26 start-ups are being recognized by DPIIT every day. 18,000+ start-ups were recognized by DPIIT (up till May 2019), which includes 8,993 start-ups recognized in 2018 alone.
This soothing start-up ecosystem and the fresh breeze of the country’s youth has led to a flood of interesting start-ups all across the country and the end-user now is relishing a problem of plenty in the market! Here are a few interesting startups that have come up, as a result.
1. Shubh Loans: Shubh Loans is a vernacular app that is helping a growing number of salaried employees (starting from 12K) in getting a loan of up to 5 Lacs with a long term (up to 4 years) EMI tenure. The smart credit model deviates from the traditional model (where the individual's repayment capacity is the sole criteria) and replaces it with the Shubh Loans credit model (which analyzes repayment capacity of and intention-to-pay by the individual). In 2018, Shubh Loans raised USD 4.2 million as Series A led by venture capital firm Saama Capital with the participation of pre-series A investors—SRI Capital, Beenext and Pravega Ventures.
2.72 Networks: 72 Networks is a PAN India distribution house specializing in Last-Mile Delivery with a special focus on Rural Areas is opening up new options for OEMs now. They act as a rural e-commerce enabler connecting microfinance institutes (MFIs, Lending Companies), etc, and OEMs like Samsung, Xiaomi, etc, to reach out to get customers from rural India - Tier 2, Tier 3, Tier 4. Few of their happy MFC Clients are Fullerton India, Fusion Microfinance, Satin, Arohan, etc and few of there OEM partners are Samsung, Motorola, MI, Nokia, Godrej, etc. To date, they have made about 1,32,000 individual rural deliveries since inception across the country and have closed the FY 2018-19 with a positive top line of INR 70 crores. They are excited to get into the next growth phase of their business which is to use technology - primarily AI as a tool to drive the business thereby achieve higher profitability and reach 300 Crores of business in FY 2019-20
3.HiveMinds: HiveMinds is one of the leading digital marketing agencies in India and a part of the Media giant, Madison World. The company integrates online marketing for brands including digital PR, social media, search, media buying, website & app development, content marketing, community building and customer data analytics. The bootstrapped company since its inception has gained a great statute amongst startups as a growth partner. HiveMinds as the industry pioneer for Digital Marketing, Search Marketing, and SEO has a great clientele of 200+ startups and 30+ large organizations including prominent brands like MobiKwik, BigBasket, RedBus, Voonik, Simplilearn, Curefit, Teabox, Zoomcar and TaxiForSure.
4.Voyzapp.com: Voyzapp.com is a technology-powered platform for voice over industry that allows clients to find the ideal human voice matching their business needs. Clients use Voyzapp’s extensive search filters to hear voice samples and compare prices and see the TAT before selecting a human voice that fits their requirements. The company’s services are free for voice actors, who after registration and uploading voice samples on the platform only need to wait to hear from Voyzapp's clients. Voyzapp has over 10 thousand + voice-over artists on their platform catering to businesses in 30+ languages.
5. Pokerdangal: Pokerdangal is a flagship product of Xeta Networks Pvt Ltd involved in online gaming. Their tagline is 'Where Skills Meet Fortune' and their endeavor is to redefine Poker in India. On www.pokerdangal.com you can play a variety of exciting tournaments and cash games in a safe game playing environment. Their guiding principle is to develop the online gaming industry in India ensuring a safe, reliable and fun ecosystem for its players.
The author is CEO & Co-founder of 72 Networks