In the last 12 months, India’s ecosystem has undergone major changes. Since demonetization, funding has been more regulated with investors putting profitability ahead of profligacy.
Though the year didn’t seem a big ticket funding, but some startups gained access to the funds. The three sectors include- Internet of Things (IoT), FinTech and EduTech were found in favor of funding.
- FluxGen Engineering Technologies (IoT): Solving Water Shortage Crises problem
The company has begun their operation in the year 2011. It has developed a low cost and local IoT solution for energy and water Management. Unlike India, in many developing countries too, there is much shortage of energy and power. FluxGen provides alerts to the public through Web applications when the even level drops due to excessive consumption or even a leak.
FluxGen customers include Indian Railways, Robert Bosch and Titan. Energy and Power Management helps clients in maintaining power plants or continuous monitoring of overhead tanks and water pumps.
Cofounder, Ganesh Shankar quit his high paying job and started FluxGen as his new career venture. He says;
I, Ganesh Shankar had harbored the ambition to start a business on my own since my college years. While I was working at GE, I constantly felt a lack of thrill that I had always wanted from my career. However, also aspired to do something worthwhile that would benefit the society, as all these thoughts accumulated, I took the plunge into entrepreneurship.
- Capital Float (FinTech): Ahead of Demonetization curve
With the demonetization in India, it gave Capital Float a boost. While the government is pushing the public to go more on digital transactions, Capital Float has been served as a big opportunity. Capital Float is one such company that not only creates interest among investors but also among Capital Float communities. Cofounders Gaurav Hinduja and Sashank Rishyasringa met first time at the Stanford University in 2010.
As India is high in population which is either unbanked or underserved by Financial institution like, banks, So they mainly focused on Small and Medium Enterprises (SMEs). But, the work doesn’t found to be much easier. They took time on convincing visitors when questioned, is it safe for online transactions? So, they partnered with Amazon and Snap Deal, Indian popular e-commerce sites.
Now, Capital Float is one of the best leading platforms, providing capital to SMEs.
- ToT Smart Education (EduTech): From The Student’s Perspective
It’s little wonder that the new generation startup is merging education with technology. The company has come up with new and innovative ideas to make the school syllabus more relevant for the students. Founder Saurabh Arya is providing videos and games that would customize to meet the individual child’s requirement. The company also produces textbooks, and it’s working with 600 schools across Northern India.