October, November & December
4th Quarter
India’s tech, startup and VC funding news from across October, November and December of 2019, focusing on early stage startups.
For technology-specific news for the most recent month, visit the Other News section, covering blockchain, artificial intelligence, fintech and cryptocurrency news across the 17 jurisdictions that we cover.
October 2019 • November 2019 • December 2019
October 2019
- India: Sieve gains backing from Twitter co-founder, Biz Stone, with end-to-end freelancer and agencies management platform
- India: An intro to EZTax, SaaS platform to help SMEs file taxes online
- India: Fyle expense management software provider raises $4.5M focusing on SMEs, and with WhatsApp integration
- India: “Chinese…volume of investments has increased 5-fold at $5.6BN in 2018 compared to $668M in 2016 and around $3BN in 2017”
- India: Udaan business-to-business commerce platform raises $585M with 3M retailers and 25K sellers across 200 cities
- India: NoBroker property listings portal raises $50M with home rentals and purchase platform
- India: Bithumb Global, South Korean crypto and token exchange, to open crypto exchange in India despite anti-cryptocurrency climate
- India: MedTech’s Got Talent Challenge India applications close October 17th, for Australia’s MedTech Actuator’s first India bootcamp
- India: An intro to VentAllOut, mobile app startup providing an outlet space for anger and frustration
- India: A look at Dimension NXG, launching augmented reality headsets for educational use in remote villages and low-population cities
- WeWork India aiming to raise $200M to fund growth, in spite of parent firm’s IPO postponement
- Sequoia Capital selects 20 startups for 2nd cohort of Surge accelerator, focusing on India and wider Southeast Asia
- India: DealShare social buying platform raises $11M with group buying of grocery and home merchandise focusing on middle-to-low income consumers
- India: Prarambh, the country’s first legal-tech incubator, unveils the 3 startups selected for inaugural cohort
- India and Thailand discuss enhancing digital connectivity and cooperation in agriculture, science and technology, and ICT
- India: An intro look at the 10 startups shortlisted for the Google Launchpad Accelerator India programme, using AI and ML to address socio-economic issues
- India: Khatabook raises $25M Series A funding with digital bookkeeping services for SMEs
- India: A brief overview of how China’s newer and smaller tech-focused merchant banks are targeting the country’s early-stage startups
- China’s Club Factory online retailer raises $100M to build on 40M-strong user base for online sales in India
- Dubai’s DP World launches logistics-focused accelerator platform with Invest India, Kerala Start-Up Mission and Startup Réseau
- Singapore adds India to Global Innovation Alliance aiming to connect the city-state with India’s upcoming tech startups and SMEs
- India: Mall91 social commerce startup raises $7.5M with platform spanning gaming, video, chat, and social shopping features
- India: A brief overview of industry bodies and organisations aiming to protect and promote domestic startups in policy, and in the face of global competition
- India: Bewakoof online direct-to-consumer clothing firm gains $11.2M
- India: True Balance raises $23M with mobile recharging services and 70M downloads to date
- India: Legalkart law-tech startup raises $23M from angel investors with practice management mobile app for legal professionals
- India: Qure AI med-tech startup in talks to raise $20M to fight tuberculosis with automated diagnosis via X-ray image and medical image scanning
- India: Walmart plans to spin off PhonePe digital payment and wallet firm from Flipkart in prep for bigger digital payments focus
- India: Social Alpha startup accelerator partnered by Google Developers Launchpad to support social impact startups, with partial focus on AI and ML
- India: WEGoT raises $2M seed funding with IoT-based water management solutions
- India: MyGate raises $56M with app-driven security management services focusing on gated communities
- India: WE-Hub Community Slate Accelerator Program partners Australian Consulate-General with funding for 5 women-led social enterprises
- India: Urbanpiper restaurant-focused SaaS firm secures $7.5M with platform improving connectivity with diners and food delivery services
- India: iB Hubs, network providing end-to-end assistance to startups, to establish ‘tech valley’ in California, aiming for 2024 launch
- India: Uber takes majority stake in Cornershop online grocery startup, with sights set on being ‘the operating system for your everyday life’
- India: An intro to fast-growing BulBul, app providing an e-commerce for influencers focused on vernacular-speaking customers
- India: Ministry of Information Technology and Electronics to launch online hub for emerging enterprises and startups
- India: An intro to WhiteHat Jr edtech, helping kids between 6 and 14 yearsto learn coding online in live one-on-one classrooms from anywhere in the world
- India: A look at QNu Labs, applying quantum technology to corporate digital assets, eliminating algorithms and providing keys to encrypt data against hackers
- India: Wipro Consumer Care-Ventures launching $28M fund, aiming to invest in 10 startups in the personal care and homecare space across 3 years
- India: MeitY Startup Hub is now online, the Ministry of Electronics and Information Technology portal aiming to be a central startups resource and collection point
- Kerala Startup Mission and Bahrain Economic Development Board ink MOU to cooperate on innovation in fintech, ICT, IoT startups and related sectors
- India: Team from Malla Reddy Engineering College for Women develop blockchain-backed online voting system at hackathon; to present to State Election Commission
- India: 100XVC to unveil the first batch of its 100-startup portfolio in December, selected from 1200 pitches received
- India: A brief intro to 3 healthtech using AI and machine learning for early detection of breast cancer
- India: Crediwatch fintech raises $3.2M Series A with AI and ML-driven focus on reducing institutional credit risk
- India: Uber partners Delhi Metro Rail Corporation to deliver public transport and real-time updates to commuters via app
- India: Credenc student loans platform raises $2.5M, in part from Omidyar, aiming for 1000-college presence across 50 cities inside 2 years
- India: A look at GigIndia, using AI and ML to bring together job seekers and employment generators to address the needs of the gig economy
- India: An intro to Hubhopper, social network that pivoted to become one of India’s largest podcast and audio platforms, with 1M hours of content across 15 languages
- With the tender submission date looming for National Automated Facial Recognition System, India preps to install the worlds largest surveillance system
- India: E-commerce market expected to reach $84BN in value by 2021, with social commerce seen as an important new channel
- India FinTech Forum unveils 18 fintech startups to compete for Fintech Startup of the Year award at the India FinTech Awards 2019 in November
- India: Stage3 fashion rental and styling platform raises $2M
- India, the world’s largest market for 2-wheeled vehicles, is now poised to rival China in e-bike development
- India’s Shoptimize, AI-powered e-commerce firm, gains partnerships in Singapore and South Korea with service aiding brands establish e-commerce platforms
- India: An introduction to Torchit, working on assistive devices for the visually-impaired, powered by ML and AI
- India: Tech Mahindra partners Netherlands’ Quantoz to provide blockchain-as-a-service for digital payments, integrating fiat currencies and enterprize-focused services
- India: Log 9 Materials raises $3.5M Series A with zero emission, low-cost aluminium-air fuel cell
- India: Bharti Airtel telecom giant launches startup accelerator program, focusing on early-stage tech starutps ventures
- India: Parent firm of Ola, homegrown ride-hailing platform, to restructure Foodpanda India food delivery business to become ‘cloud kitchen’ platform
- India: Symbo insurtech startup aims to disrupt the industry with vision, fitness, marathon, and women-specific insurance
- India: An intro to 3 three health and fitness startup entrepreneurs
- India’s MX Player video streaming service gains $111M backing, led by China’s Tencent
- India’s Tech Mahindra and Bangladesh Government sign MoU to foster digital startup ecosystem by providing guidance and mentoring to budding entrepreneurs
- Hong Kong: OneOneDay advertising tech startup raises $1.3M pre-A following on from launch of India app
- Korea-India fintech True Balance raises $23M with 300K daily digital transactions; gains non-banking financial company license from Reserve Bank of India
November 2019
- India’s Kudankulam Nuclear Power Plant finds malware on administrative network, believed linked to North Korean state hackers
- India: An intro to MMC Convert, accounting migration software startup that’s so far helped over 5K SMEs move from single-software setup into cloud-based solutions
- India: A look at Blinkist, speed-reading app which delivers distilled versions of non-fiction books in text and audio for users
- India: An intro to ClickPost, SaaS startup focused on e-commerce logistics, reducing failed last-mile deliveries by 25%
- India: A brief advance look at the World Startup Expo and conference, set for November 14-15 in Bengaluru
- india’s Shopclues, once valued at $1.1BN, finally sold on less than $100M valuation to Singapore’s Qoo10 in all-stock deal
- India: ElasticRun gains $40M funding with last-mile logistics focus, led by Naspers, South Africa’s internet and media group
- India: Fisdom wealth management app startup secures $11M
- India: Smartworks coworking firm gains $25M backing, with a footprint of 43K workstations in 23 centres across 9 cities
- India: Tamil Nadu working on state-level policy for key emerging technologies including blockchain and artificial intelligence, given likely impacts on governance
- India: Ghost Kitchens launches as country’s first ‘cloud kitchen’ fund and incubator, with $3M corpus
- India: Lokal news and classifieds platform raises $3M, in part from Y Combinator, with non-English focus across 27 districts
- India: Adda247 online learning platform gains $6M with multiple-platform delivery of course materials
- India: PiggyRide transport service for kids raises $1M, with 15-step verification process and rigorous security
- India: Stellapps deploys thousands of sensors to boost dairy productivity
- India: Doubtnut edtech and Pratilipi content platform reportedly to gain funding from China’s Tencent with sights set on regional language internet users
- Indian Angel Network closes maiden seed and early stage IAN Fund at $53M
- India: A look at Rupeek Fintech, online gold-focused startup focusing on India’s jewelry and heirlooms
- India’s Log 9 Spill Containment: graphene-based oil sorbent pads with higher efficiency than other products, are reusable, and safe to dispose of or incinerate
- India: Mitrata, women-focused microfinance institution, raises undisclosed Series A funding from a group of high net worth individuals
- India: ENpower edtech platform raises $370K with entrepreneurship learning programs for children from 8 to 18 years of age
- India’s vernacular-content media and entertainment market estimated to be worth $53BN, prompting a boom for startups and investors
- India: Gradeup online exam preparation startup raises $7M Series A
- India: An overview of the country’s wearable-tech market opportunities and expected growth
- India: Information technology spending expected to hit $94BN in 2020, a 6.6% increase from $88.5BN in 2019
- India: Cyberattacks increase 26% across Q3 2019, with Mumbai, New Delhi and Bengaluru attracting near 38% of all attacks
- India: An intro to Utter, learning solutions startup for Indians to better express themselves in English in their daily and professional lives
- India: SimSim raises $6M Series A with video-based vernacular-language online shopping platform
- India: Tata Communications partners Microsoft to work on cloud-based connected car applications with MOVE platform
- India: SimSim app secures $6M series A with video-based social e-commerce
- India: Zypp e-scooter startup raises over $2M pre-Series A, aiming to have 20K scooters on the road by the end of 2020
- India: TiE entrepreneurship organisation launches TiE Academy, a training and mentorship initiative for entrepreneurs and startups in Mumbai
- India: Karnataka state government to launch ‘vision group’ to boost entrepreneurship, incubation support and innovation, focusing on tier-2 and 3 cities
- India: BAce Capital, backed by China’s Ant Financial, preps to deploy circa $90M in-country, looking at ‘small-ticket’ investments from $1M- $15M
- Amazon to take seller-focused Accelerator program to India, to provide a more hands-on approach to private label expansion for e-tailers
- India: LetsVenture angel investing platform unveils new initiative,EV Innovation Lab, as a one-stop platform for electric vehicle makers, investors and stakeholders
- India: Multibhashi language learning platform startup gains funding with mobile-based education in 11 Indian languages, English, Hindi and 9 regional languages
- India: Recently-launched 100XVC venture capital firm adds corporate VC program to bring corporate partners in to consider backing early-stage startups
- India: A look at Wrap2Earn, delivering interior and exterior car-based advertising and a marketplace for connecting brands to vehicles, fleets and more
- India: Healthians raises $12M with online diagnostics services focusing on preventative and chronic health testing
- TikTok developer, ByteDance, to launch music streaming service in India in December 2019, in competition with local players JioSaavn, Gaana and Hungama
- India: EasyRewardz customer engagement and rewards platform gains $3M via Flipkart e-commerce giant
- India: Karnataka government launches Global Innovation Alliances Market Access Program, aiming to help startups expand overseas
- India: WMall raises $9M with social commerce, selling via WhatsApp, YouTube and others, and with ‘social buying’ app
- India: A brief intro to Perfios, credit analytics startup which raised $50M to help financial institutions correctly assess the credit-worthiness of borrowers
- Furtados School of Music education startup raises $2.7M in round led by Indian Angels Network Fund
- India Quotient closes 3rd fund at $60M, aiming to back B2B and SaaS startups
- India: Fireside Ventures VC firm focusing on consumer brand startups raises $60M in commitments on first close of Fireside Fund II, aiming for final corpus of $100M
- India’s Nazara Technologies, interactive gaming and sports media company, to invest up to $20M in startups in India, the Middle East and Africa in 2020
- India: Razorpay payments processing firm launches corporate credit cards and current accounts support in a major neo-banking push
- Visa Everywhere Initiative to launch in India, offering up to $50K for innovative fintech companies
- India: Do Your Thng platform raises $150K with creators’ community providing brands with connections to millions of social media users
- India: Germany’s Bosch opens IoT lab to offer enterprizes services around producing scalable solutions for smart connected products
- India: Parent firm of myHQ co-working space provider raises $1.5M on the back of 120 locations offering underutilised spaces
- India: An intro to CallHippo, providing on-demand VoIP which doubles up as a workflow automation system
- India: Cultiv8 startup incubator unveils 6th cohort with startups working on sectors including financial services, agriculture and healthcare
- India: An intro to Kae Capital, early-stage venture capital fund that backs tech-focused companies during the seed round, primarily
- India: An overview of the Defence Cyber Agency, established last year as part of a 3-agency service to work on military cyber-issues
- India: A brief intro to the 3 startup winners from the recent LOTTE Start-up Competition Week, held at the Indian Institute of Technology Madras Research Park
- China’s Ant Financial to raise a $1BN startup fund for investments in India and wider SE Asia, with a focus on payments and risk control
- India: Yulu electric bike rental startup gains $8M from, and strategic partnership with, Bajaj Auto, one of the country’s largest automakers
- India’s startups received $51BN funding inflow from Japan’s investors between 2014 and H1 2019, with SoftBank alone investing $10BN
- India: Bounce scooter rental startup secures $150M with over 17K electric and gasoline scooters across 36 cities
- Indian Angels Network partners BIRAC biotech body to launch BioAngels funding program, aiming to support and develop 100+ startups over 3 years
December 2019
- India: Zolostays co-living startup to gain $100M from Credit Suisse, aiming for 200K bed-count by end of 2021
- India: PharmEasy online pharmacy secures $220M, aiming to integratie retailers, distributors and pharma companies with platform for timely deliveries
- India: Kamatan raises $4.18M with tech focusing on agricultural logistics and supply chains
- India: Tripeur corporate travel startup raises $1M with AI-powered platform
- India: A look at MoEngage, targeting $25M revenue by 2020 with AI-driven platform for omni-channel customer engagement, boasting 500 clients across 35 countries
- India: Traceability of ‘rogue messages’ on Facebook-owned WhatsApp to be part of proposed amendments to Information Technology (Intermediary Guidelines) Rules
- India: An overciew of Ashoka University’s AIM Smart City Accelerator, a 20-week program aiming to nurture early-stage startups in Tier II and III cities
- India: Digital Gurukul edtech startup partners Germany’s Certif-ID to roll out blockchain-backed diplomas, aiming to eliminate physical certification
- India: NATHEALTH industry body and government’s NHA partner to establish accelerator program to support healthcare startups
- India: T-Hub startup incubator partners Dep’t of Science & Technology and Nat’l Payments Corpo of India for digital payments-focused fintech accelerator program
- India: Gympik online fitness marketplace and provider of SaaS solutions for fitness centres preps for overseas growth to Singapore, Philippines and Malaysia
- India: An intro to Utter, app-based startup helping people become conversational in English, and hone the fluency of those with limited knowledge of it
- India’s internet industry expected to reach $160BN value in 5 years, reckons Goldman Sachs
- Download: E-commerce and Consumer Internet Sector – India Trendbook 2019, from EY (pdf)
- India FinTech Forum names Mabel Chako, co-founder and COO of Open Financial Technologies as Woman Leader in Fintech at India FinTech Awards
- India has the highest concentration of fintech hubs in Asia, with traditional international financial centres trailing when it comes to financial innovation
- India: Uttar Pradesh, state with over 200M inhabitants, testing blockchain-powered solar energy trading platform, with participation from Australia’s Power Ledger
- India: An intro to Agro2o, combining hydroponics, IoT and automation to allow allows home users to grow fresh herbs, veggies, medicinal plants and more
- India: US-based VC firm Accel Partners raises $550M for its 6th India fund, focusing mainly on seed-stage startups across a wide range of sectors
- India: Lucideus secures $7M with enterprize-focused information security platforms and services, delivering real-time monitoring of cyber threats
- Y Combinator selects 28 Indian firms for its winter batch, twice what it selected for its summer batch
- India: China’s Xiaomi launches new digital lending app and platform in challenge to Samsung’s dominance, targeting the country’s millennials
- India: Shadowfax logistics startup secures $60M backing, led by Walmart-owned Flipkart
- India: Draconis Capital Future Fund launches with sights set on sustainability and social impact investments across multiple stages
- India: A brief intro to Punjab state’s thinking on startups and technology
- India: An intro to Biconomy, startup platform helping developers provide a smoother UX to decentralised app users
- India: An intro to GetMyVisa, allowing travelers to apply for visas to 90 countries online, alongside insurance, forex, pre-bookings, and self-drive car rentals
- India: “…total number of tech startups in the country has grown towards 9300 with 1300 startups being added this year so far…”
- India: Thrive Haryana 2019, hosted by Internet and Mobile Association of India and state government, set for December 10th
- India: Discovery Channel to premiere documentary series India Startup Stories on December 14th
- India: An intro to the 20 startups selected for the first cohort of 100XVC’s seed investment program
- India: Anthill Ventures early stage investment firm launches Urban-i program for consumer startups in personal care, fashion, health and nutrition and beyond
- India: Huddle incubator, accelerator and coworking provider partners GrowX Ventures VC firm for country’s first accelerator for electric vehicle-focused startups
- India: Origo raises $6.8M to aid rural farmers with services spanning most of the agricultural industry’s supply chain
- India: An intro to TravClan, B2B online travel marketplace
- India: mPaani retailer digitization platform raises $5.5M Series A to help corner stores get online, digitize relationships and streamline their business
- India: Ecozen Solutions completes $6M fundraise with on-farm solar-based cold storage, smart solar irrigation solutions and online marketplace
- India: 3one4 Capital raises $118.5M across two funds, Continuum-I and Rising-I, to back early-stage tech startups
- India: NowFloat startup acquired in majority-stake move by Reliance Industries business conglomerate with SME-focused platforms that enable e-commerce
- An intro to Headsup, motorbike helmet that connects to smartphones via Bluetooth, providing communication, navigation and music
- India: Global Alliance for Mass Entrepreneurship unveils ‘Opportunities for Women Entrepreneurship’ study results, jointly produced with Facebook
- India: Tech Mahindra IT giant to undertake $70M smart city project in Pimpri Chinchwad municipality in Pune City, Maharashtra
- India: KredX invoice discounting platform raises $26M, helps businesses meet their short-term working capital needs
- India: KOGO raises $350K angel round with app/device combo driving an AI-powered storytelling engine that writes road travel stories
- India: ObserveAI raises Series A with AI-managed voice conversations in customer service, ensuring quality of customer service calls and compliance with protocols
- India: An intro to the 15 startups selected from Social Alpha Energy Challenge 2.0, tackling issues around climate change, energy access and efficiency
- India: Personal Data Protection Bill 2019 – a move towards a trusted ‘digital India’ or a serious threat to Indians’ privacy?
- India: TapChief professional development, networking and employment startup secures $1.5M
- India: Box8 ‘cloud kitchen’ startup raises $1.6M with full-stack food delivery service, from online ordering through preparation to delivery of dishes
- India: An intro to Meladath, providing a retrofitable conversion kit for petrol scooters, turning them into electric-hybrids, driven in either electric or petrol mode
- Startupbootcamp selects 11 fashion-focused startups from 1100 applications, including India’s Bigthinx and Japan’s aoiShip
- India’s internet shutdown in Kashmir is now the longest ever imposed in a democracy, affecting 7M people
- India: VeriDoc enables blockchain-based pilot project for property tax assessment certification in Maharashtra
- India: Infosys IT services multinational launches blockchain-based applications for government services, insurance and supply chain management
- India: An intro to 4 startups working on airborne pollution, in both removal and utilization
- India: Gov’t expands ‘net/mobile blackouts – Assam, Meghalaya, Tripura states; parts of Uttar Pradesh; parts of New Delhi, and Mangalore city – affecting tens of millions
- An intro to the 4 Indian startups that won at the recent World Tourism Forum Lucerne’s first Indian Startup Innovation Camp 2019
- India: We Techshiksha, owner of WitBlox DIY robotics kit for children, raises 100K from Mumbai Angels Network, focusing on plug-and-play kits for STEM education
- An intro to the 18 South and Southeast Asian startups Microsoft ScaleUp supported in 2019, spanning fintech, AI, IoT and more
- India: Kaleidofin fintech platform secures $5M Series A with focus on curated, goal-based financial solutions for the underbanked population
- India: Toffee Insurance raises $5.5M with focus on the underserved including innovations such as single-event insurance
- India: An intro to RupeeRedee, short-term loans platform offering for wide range of customers, including salaried, self-employed and first time borrowers
- India: Lenskart eyewear retailer raises $231M led by Japan’s SoftBank Group, entering unicorn league and aiming for wide-ranging overseas growth
- India: An intro to 10 startups focusing on travel, tourism and technology
- India’s Ola ride-share giant rolls out ‘Guardian’ AI-enabled safety feature in 16 cities across India, and Perth in Western Australia
- A brief overview of the wins and milestones for Indian startups across each month in 2019
- India: Finly startup gains funding with focus on automating accounts payable process for mid- and large-sized businesses
- India: WE Hub partners Startup India and government’s DPIIT to launch Women Rise Together program in Telangana, aiming to to support 7500 women annually
- India: An intro to MetaFact, using AI to help mitigate misinformation spread in multiple languages and through text, photo, and video on WhatsApp
- India: The $70BN social commerce opportunity – social platforms as distribution channels, leapfrogging web and going digital with social-first models
- India: A brief look at how digital-first retail brands have reached $15M in revenue within 3 years of launch, a milestone that used to take at least 5 years
- India: XpressBees logistics startup gains repeat funding in $10M allocation by China’s Alibaba
- India: Zyppys platform for car rental service providers raises pre-A funding with aggregator-of-aggregators approach
- India: National Payment Corporation of India unveils Varja, blockchain platform enabling retail payments and settlements
- India: An overview of microfinance’s contributions to financial inclusion, it’s opportunities and challenges, from KPMG India
- India: An intro to Scout My Trip, travel planning startup that uses locals to create or add to your itinerary
- India: What 2020 holds for India’s startups, in the opinions of 8 key founders and entrepreneurs
- A deep dive into the challenges and opportunities for India’s food delivery startups
- India: Wikimedia Foundation lodges formal concerns on proposed Data Protection Bill, citing ‘potential to limit free expression rights for internet users’
- India: Domestically-developed apps edge out Chinese rivals as competition heats up in what is now the world’s No 2 smartphone market
- India: Bulgaria’s AE Ventures, early-stage blockchain investment and acceleration firm, expands Global Starfleet Programme to Bangalore
- Drone Festival of India set for January 6-7 in New Delhi, hosted in partnership with Ministry of Civil Aviation and Startup India
- India: An overview of 13 new venture funds launched in 2019 – their sectors, fund size and stage of financing focused on
- India-Australia Waste to Wealth Design Comp applications close January 5th, student-focused and seeking sustainability, circular economy and waste mgmt concepts
- India: An intro to Houm, enabling users to own their private domain name and server to access the internet privately, providing control of personal data
- China’s ByteDance now testing new social music app, Resso, in India and Indonesia, hoping to generate another global sensation like TikTok
- An overview of how and why Japan’s VC funds and investors have focused on India’s startup ecosystem
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