Startup Funding

8 Indian tech Startups that raised over USD 1 million in 2016

8 Indian tech Startups that raised over USD 1 million in 2016
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Indian entrepreneurs are attracting a steady rise of angel and steady investors towards their startups with ease, and the figures are shockingly higher than they ever have been. From all genres of startups in the sub-continent, technology startups have attracted the most investments and attention. Indian tech startups are disruptive, game changing and have revolutionized the way business works fundamentally. It has been the sincere hard work of all teammates, the idea that was revolutionary enough to catch the eye of investors risking millions of $ worth of investment into these ideas.

But who won what? Here’s a list of 8 technology startups that raised over a million USD in India recently:

IoT & M2M Solutions: USD 4 million

Altizone, a Pune based startup which deals with IoT & M2M Solutions received Private equity from Wipro Ventures & Lumis Partners worth 4 million US$ in early February. Claiming to revolutionize loT & M2M solutions, the startup offers promising options.

Driving data & an analytics platform: USD 13.5 million

Zendrive received a whooping 13.5 million US$ from Sherpa Capital, Nyca Partners and Thomvest Ventures on 5th February 2016 in the form of private equity. This Bangalore based startup provides safe driving data & an analytics platform. Using analysis of aggressive driver behavior and real time coordination with speeds and location, it provides feedback to drivers on how to drive more responsibly keeping our roads safer.

Solar power solutions: USD 1 million

Based in Mumbai, on 12th February iGrenEnergi received 1million US$ from Sunil Mehta via seed funding. They provide solar power solutions including disruptive products to optimize energy generation, conversion, storage as well as smart grid interactions.

Data analytics: Almost USD 1 million

BetterPlace, a Bangalore based tech startup raised almost a million dollars (970,000 US$) via seed funding from United Seed Fund on 16th February 2016. They provide data analytics based verification services platform with a motto to “safe power every Indian”. Verification services can be used to hire safer employees, partner safer colleagues, safer living spaces and training in safety for its clients.

In-building connectivity: USD 2.3 million

Via a private equity, iBus Networks scored a funding of 2.3 million US$ from Vallabh Bhanshali, N Squared Management LLC, Jagdish & Sandeep Mehta Family Office. Based in Bangalore, iBus aims to provide next generation in-building connectivity.

Local language mobile OS: USD 5 million

Indus OS, a Mumbai based startup raised 5 million US$ via a private equity from Omidyar Network last week. The startup has developed a local languages based mobile OS, which can offer tremendous potential.

Electronic payments solution: USD 35 million

An electronic payments solution startup called EPS raised a staggering amount of 35 million US$ from APIS Partners. They are offering ATM solutions and electronic transfers of funds catered to specific needs and have their startup based in Mumbai.

Cloud based data processing: USD 30 million

The Bangalore based enterprise cloud based data processing startup raised 30 million US$ from Institutional Venture Partners, Norwest Venture Partners, Lightspeed Venture Partners, CRV via private equity. Cloud data processing offers large potential for possible growth in the future.

Does this list inspire you and your tech startup? What’s the highest funding story you’ve heard? Let us know in the comments on our official Facebook page, Entrepreneur India

Edition: October 2016

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