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16 promising and innovative startups to watch in 2016

Lokesh Sharma 
on 14 October 2016

LinkedIn


Start-ups are basically companies in their infancy, trying to expand on its own.

Primarily they are financially supported and governed by entrepreneurs either in groups or on an individual basis. In India, start-ups are the talk of the town and a hot trend.

This recent rise in start-ups stands authenticated by the figures revealed by Nasscom. According to it, the total number of start-ups has gone beyond 4,200 which is a 40 percent increase in growth from the previous year.

The latter half of the year showed a sudden rise in investors showing keen interests in start-ups. The year 2016 seems to be fruitful for start-ups as greater governmental impetus is expected along with VC/ PE attention.

Let’s have a look at 16 of the most promising start-ups of 2016!

Faircent.com

Founded by three members namely Rajat Gandhi, Vinay Matthews and Nitin Gupta; Faircent is located at Gurgaon (Haryana).

Faircent is fintech (financial technology) company which uses technology to provide financial services in a more efficient manner.

The primary feature of this start-up is that uses P2P (peer to peer lending) which is a method of debt financing enabling borrowing and lending of money without the involvement of a mediator like banks etc.

With a headcount of 23, Faircent aims at empowering both lenders and borrowers who stand troubled with soaring interest rates and inflation.

  • Growth plans in near future
  • is all geared up to achieve the target of distributing loans across 200 cities and a loan amount of approximately 2000 crores in the coming 4 years.

It also aims to continue its prominence in product and the lending marketplace platform in India.

Funding raised from investors

They were able to raise 1.5 million dollars from Brand capital, the Bennet and Coleman Co (BCCL).

Bolt

Founded by Satyajeet Mohanty and Ronak Kumar Samantray; Bolt is a startup located at Hyderabad dealing in technology and auto accessory. 

With a headcount comprising of a team of 5 members, it primarily emphasizes on quality production and engaging with the clientele post sales.

The product name being Bolt red streak, is a one of its kind smart mobile phone charger for motorbikes.

It is a compact waterproof mobile charger specifically designed to safely and quickly charge mobiles.

It not only ensures the safety of your device but also provides personal safety by means of an app (bolt riders app).

This app automatically triggers once you plug in the charger saving your ride details like average speed, total distance travelled and route on the map following your ride. 

Growth plans in near future

When the startup in July 2015, it had 30 certified B dealers across the nation.

Now the company aims to increase this number to 100 dealers. Demand via online platforms like Amazon, Flipkart and the company’s website has also added to the .

Funds raised from investors

The startup has managed to generate funding of Rs 25 lakhs from family and friends.

Wow! Momo Foods Pvt Ltd

It is a startup dealing with the food and beverage industry founded by Sagar Daryani and Binod Kumar Homagai.

This startup came into existence six years ago that too with a nominal investment of Rs 30, 000. 

Headquartered in Kolkata, Wow Momos have diversified its operational capacity to Delhi, Kochi, Bangalore, Pune and Chennai. 

With a headcount of about 700 staff members, it has garnered revenues up to 3.5 crores a month. 

They deal in innovative ways of preparing momos experimenting with different flavors and ingredients.

They wholly concentrate on dining bistros, take – away and delivery on demand.

Growth plans in near future

The startup aims of reaching the target of100 food joint outlets across the nation generating a turnover of about 80 crores at the end of the fiscal year 2016- 2017.

Funds raised from investors

It managed to funding of Rs 10 crore from the founder of naukri.com Mr.Sanjeev Bikhchandani, Saurabh Srivastava and Ashvin Chadha (IAN) Indian Angels Network.

Inspirock

It is a startup dealing with providing free online service helping its users to plan escapades based on their priorities and interests.  

Founded by Anoop Goyal and Prakash Sikchi, Inspirock is headquartered at Palo Alto, California (USA).  

With a headcount of 15 members, this online trip planner makes use of the latest technologies from intricate backend algorithms to UX (user experience) designed to provide you with a roadmap of your choice.

Basically what happens is that in the frontend the user just enters his / her recommendations, preferences and choices regarding the vacation.

Now taking these inputs from the client, the site processes this information filtering and logically computing the possible outcomes as an itinerary plan.

Growth plans in near future

It has covered approximately11, 000 destinations around the US and Europe. The startup to cover the entire world by next year.

  • Funds raised from investors
  • has grabbed a funding of 3 million dollars from MakeMyTrip.

EduKart

EduKart is founded by Mr. Ishan Gupta with its head office at New Delhi. It is a start up with a 50 member headcount providing a marketplace for higher education.

It is a platform primarily dealing with the enrollment of students in higher degree courses. It offers diplomas, certificates and degrees from industries, educational institutions and universities.

Not only national courses but international courses are also provided through this platform.

EduKart was initiated with a mission to bring about a change in the present education system and bringing flexibility to the education system.

Growth plans in near future

It plans to add more courses and course providers from a present 2500 courses to 10,000 courses in the coming year. It also aims to increase the student enrollment up to 300 percent.

Funds raised from the investors

The startup attracted and the list includes cricketer Yuvraj Singh (YouWeCan ventures), Arihant Patni, Vijay Shekhar Sharma, Manish Khetarpal, Vibhor Mehra, Amit Patni and Group with the amount $500,000 in 2011, $ 500, 000 million dollars in 2013 and 1 million dollars raised in 2015.

Chayoos- Sunshine teahouse Pvt ltd

Chayoos is a modern-day café / chai (tea) outlet chain founded by former IIT graduates Nitin Saluja and Raghav Verma.

The main office of the startup is located at Gurgaon, Haryana, with a staff headcount of about 250 all over Delhi and Mumbai.

The startup has amassed a lot of revenue with 600 dedicated customers visiting their ‘chai addas’.

Living up to its tagline of ‘experiments with chai’, it offers incredible flavors and combinations such as aam papadi chai, rose cardamom, pahadi chai etc.

it offers up to 25 varieties of tea or more in a format of 12,000 combinational flavors.

It has also ventured into selling its trademark ‘Chai Patti’ (tea) through online retail sites like Amazon.

Growth plans in near future

With 13 extensions across Mumbai and Delhi / it wishes to increase its outlet capacity to 25 by the year end.

Funds raised from investors

Tiger invested in the startup generating a funding of $ 5 million.

SuVitas Holistic Healthcare

Founded by Flt Lt Bipin Pendyala, Dr Ramesh Babu and Sateesh Andra, this is a first transition care startup facility of India located in Hyderabad. 

It is service which provides post-hospitalization care effectively and serves as a bridge between a hospital and home for patients getting treated for critical illnesses.

The transition care post hospitalization is offered to those patients undergoing treatments for oncology, cardiology, neurology and orthopaedics.

The patients at SuVistas are designated as residents reflecting their core principles of ensuring delivery of homelike ambience and care.

The care program includes everything from physical care to emotional care with therapists, dieticians, counselors and physicians.

The headcount comprises of a 25 members indirect team and a 35 member core team.

Growth plans in near future

Presently having a bed capacity of 50 and serving 65 people till date the startup now proposes to diversify its branches in Bangalore and Mumbai. It also envisions setting up of 2000 bed capacity facility in the coming years across India.

Funds raised from investors

Co founder Sateesh Andra funded the facility with a whooping investment of Rs 5 crores. It also aims to generate external funding (VC/PE).

CashKaro.com

Founded by the duo, Swati Bhargava and Rohan Bhargava, the startup has its main office in Gurgaon, Haryana.

With a headcount of 60 members cashkaro.com has collected revenues up to 60 crores.

It is an online website dealing with cash back offers and coupons. It offers up to 50 percent cash back through 1000 e-commerce sites when the consumers do online shopping via their site.

Growth plans in near future

The site has a membership of about 10 lakh and witnesses 7000 . The power couple plans to launch a similar website in the SouthEast Asia region and proposes to cross the benchmark of 50 crores GMV (Gross Merchandize Value) to 1000 crores.

Funds raised from the investors

The up amassed an investment of $3.8 million from Kalaari and $75,000 from investors.

Inshorts

This start up is founded by the trio Azhar Iqubal, Deepit Purkhayastha and Anunay Pandey with its main office located at Noida.

Having a headcount of 60 members, it deals in mobile, media and content and news application.

Inshorts provide a unique presentation of daily news in 10 categories summed up in 60 words. Inshorts has a record of half a billion monthly page views.

Growth plans in near future

It has launched its new venture in Hindi language and aims at increasing its user count to 5 million by 2015. It now plans to expand its news content in Bengali, Marathi and Kannada.

  • Funds raised from the investors
  • raised a funding amount of $4 million from Tiger Global through series A round and $20 million through series B round led by Tiger Global.

It also collected investment from co- founders Sachin and Binny, times internet, Ankush Nijhawan, Gaurav Bhatnagar and Manish Dhingra.

SilverPush

Headquartered in Gurgaon, Haryana with a headcount of 40 members this advertising startup has generated an amount of $5 to $10 million as revenue.

It’s a cross-device mapping platform that accumulates consumer stroke points from smartphones, tablets, laptops and TV and maps it under the label of a distinct id.

They use an exclusive patented technology known as audio beacon technology. These muted beams can be captured only by Silver Push.

Growth plans in near future

The startup aims at expanding internationally with the of 7 patents already in the nation.

Funds raised from the investors

IDG , Unilazer , M&S partners and 500 start-ups provided an investment of about $2.5 million to it.

UrbanClap

This startup was founded by Abhiraj Bhal, Varun Khaitan, Raghav Chandra with its head office located at Gurgaon, Haryana.

It is an e- commerce company that caters to the regular needs of its customers. Be it any requirement, from repair to decoration from arranging parties to home décor urban clap provides service professionals suiting consumer needs.

Growth plans in near future

It is presently operational in 6 cities expanding across more cities.

Funds raised from the investors

The company has managed to generate investment from Rohit Bansal, Kunal Bahl, Accel Partners and Bessemer Venture Partners amassing a sum of about Rs 235 crores.

TrulyMadly Matchmakers Pvt Ltd

Founded by Sachin Bhatia, Rahul Kumar, Hitesh Dhingra and head office located at New Delhi, this startup deals with matchmaking and dating.

It has a headcount of 50 members and boasts of having 100 percent authentic profiles.

The site works using backend algorithms that logically compute outcomes in the form of displaying well-matched profiles.

Growth plans in near future

It has base of 1.5 million users and plans to achieve the target of 10 million users by the coming year.

Funds raised from the investors

The company has generated an investment amount of Rs 35 crore through Rajesh Magow, Co-founder and CEO of MakeMyTrip India, and Manish Vij, founder of ,Helion Venture Partners and Kae Capital.

Amigobulls Inc

Founded by Chandu Sohoni, Poorna Nayak, Mandeep Makkar.This start-up has a headcount of 11 members and deals with providing financial advice and updates.

It offers latest news and updates about the stock market to investors in the US.  It has filed for a patent technology that generates, uploads videos.

Growth plans in near future

The startup aims at launching in India and UK.

Indifi Technologies Private Limited

Founded by Alok Mittal, Siddharth Mahanot, Sundeep Sahi headquartered at Gurgaon, Haryana; this startup has a headcount of 15.

It deals with providing debt financing to small and emerging enterprises.  It caters to the needs, and partnership requirements of micro businesses, enabling them access to low-cost debt.

Growth plans in near future

It has expanded its domain into transportation, travel, and too, within months of set up.

It plans on the diversification of its to 4 to 6 segments in the coming year.

Funds raised from investors

Elevar Equity, Accel Individually byPramod Bhasin and Rajan Anandan.

Consure Medical

Founded by Nish Chasmawala, Amit Sharma the start-up is located at New Delhi with a headcount of 14 full-time employees.

It primarily deals in providing medical solutions for one of the toughest problems encountered by health care fraternity that is faecal incontinence in non-ambulatory patients.

It also offers innovative medical devices/ for critical health problems at subsidized rates. 

Growth plans in near future

It plans to expand commercially in the , Japan and India.

Funds raised from the investors

It has amassed Series A investment from Indian Angel Network, India Innovation Fund, India Venture Partners and Series B from Accel Partners.

Zenatix Solutions Pvt Ltd

Founded by Dr. Amarjeet Singh, Rahul Bhalla, Vishal Bansal and located at Gurgaon; it has a headcount of 20.

It deals with cloud-based energy data analytics that helps in reducing electricity consumption by 10 percent where significant amounts of power is used.

Growth plans in near future

It aims to expand its operational capacity to Bangalore and Mumbai till 2016.

Funds raised from the investors

Manoj Dawane (technology head in Ericsson India), Snapdeal co-founders Rohit and Rajan Anandan from Google, ex-United Technologies India Head Zubin Irani and Blume investors.


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