Recently, plenty of Indian startups have paved new avenues of growth and success by acquiring funds with their unique ideas, determination and hardwork. Let’s have a look at few of them.
1. BigBasket: BigBasket happens to be India’s leading online grocery delivery portal. The fierce competition and inadequate funds forced many grocery delivery startups to shut its business last year but, BigBasket has been growing constantly and has also acquired a funding of US$7 million in venture debt from Trifecta Capital. Last year also, BigBasket acquired a funding of US$150 million in a series D round led by UAE-based Abraaj Group. The investment will be used in expansion as well as development of cold storage infrastructure along with warehousing in order to get a competitive edge over its competitors. Lately, Amazon has been trying its hand in grocery delivery across India which could be a potential competition for BigBasket.
2. Rooter: It is a Mumbai based startup that works as a social engagement app for the lovers of sports. It has recently acquired an undisclosed amount of investment from Intex, a consumer electronics manufacturer. Piyush kumar, the founder and CEO of Rooter believes that the extensive research and understanding of Intex in context of the smartphone usage in Tier-2 and 3 cities of India will assist Rooter in its promotion and development. With IPL season around the corner, the funding is surely going to boost the usage of Rooter to an altogether new level. Furthermore, it must be known that the director of Intex, Keshav Bansal happens to be the franchise owner of Rajkot-based IPL team Gujarat Lions which emerged as a top contender in the last season of IPL.
3. Icertis: Based in Bellevue, Washington with offices in Mumbai and Pune, Icertis is a Software-as-a-service (SaaS) startup which works in the field of assisting firms in managing their contracts internationally with the help of its cloud-based software. Recently, it has also acquired funds of around US$25 million in series C funding led by B Capital.