Some of the most Promising Startups in India
This is India’s leading online grocery delivery site and has secured US $7 million in venture debt from Trifecta Capital. Now the company is planning to build its warehousing and cold storage infrastructure. BigBasket had raised US$150 million by UAE-based Abraaj Group last year. A number of grocery delivery startups have shut shop over the last year as funding dried up. The biggest to fall was Peppertap backed by Sequoia and Snapdeal. BigBasket could face a challenge from Amazon which has been experimenting with grocery delivery in India.
This is a Fintech startup, LoanTap which disburses personal loans to salaried folks. LoanTap calls them EMI free loans as it used some simple interest calculation to arrive at monthly interest to be paid back.
LoanTap claims to have a proprietary risk analysis platform that lets it automate a large part of the credit evaluation process. It had raised a total of approx US$4 million and few of the investors are Kae Capital, India Quotient, IFMR, MAS Financial Services.nLoanTap is one of the leading startups in the space.
Today most of the retailers and businesses in India don’t have card-swiping machines which makes difficult even for many of their customers to pay as today most people are going cashless. This Mumbai-based startup, Mswipe tackles that problem with a point-of-sale device that can turn any mobile phone into a card reader. The user just has to hook up his phone to the device, launch an app, and use it to swipe cards.
Mswipe has raised US$31 million from UC-RNT Fund, a joint venture between business tycoon Ratan Tata’s RNT Associates and the University of California. Other existing investors include Matrix Partners India, Falcon Edge Capital, and DSG Consumer Partners which also participated in the round.
Rooter was founded in Mumbai and it is a social engagement app for sports fans. It has raised funding from consumer electronics manufacturer Intex. “Intex’s understanding of the smartphone world in Tier-2 and 3 cities of India will help us to promote and develop Rooter,” says Rooter CEO and founder Piyush Kumar in a statement. The funding is timely as the cricket season is in full flow with the Indian Premier League.
Delhi-based start-up AdUrCup secures an undisclosed amount of funding led by Dineout founders – Ankit Mehrotra, Sahil, Vivek, and Nikhil. They have invested in the venture in their personal capacity. AdUrCup is a part of Accelerate Entrepreneur, a business acceleration initiative by Business World Accelerate, with very strong emphasis on the industry leader participation, mentorship, and business access. Adurcup provides a platform for restaurants to procure everything from packaging and housekeeping products to food.
Related: Top Startups Of the Year