The first edition of the Technology Issue summit was held at the Shangri La Hotel in Bangalore. The event organized by Onion Fans, Technology Issue, XPRESSN and and Cyber Carrier saw VC funds from China interact with their Indian counterparts. The highlight of the event will be the Demo Day to be held tomorrow which will see around 30 FinTech companies showcasing their products and services. Chinese PE funds are expected to invest in some of these companies for sums ranging from US$ 1 million (Rs 6.6 Crore) to US$ 5 million (Rs 33 Crore).
Speaking on the occasion Mr Mohandas Pai, partner at Aarin Capital said that India is the third largest economy in the world and will grow between 8 to 15% for the next 20 years. This would create an unprecedented economic boom that can be exploited by startups looking at leveraging the emergent opportunities. Bangalore he explained was the startup capital of India because it had a 1.5 million strong IT Workforce along with more than 250 cutting edge research hubs.He also lamented the fact that while China closed its economy to American start-ups to ensure home grown start-ups get an even playing field, India has opened it’s market too up too soon. Hence India might never see it’s own home grown google.
He concluded with the observation that Chinese startups like Baidu, Alibaba, Didi Chuxing should align with Indian companies to take on Silicon Valley Giants.
The Indian VC Funds were well represented by partners from Aarin Capital Partners, Accel Partners, Ascent Capital Partners, Gobi Partners, Ivy Capital, Inventus Capital Partner, Incubate Fund, Kae Capital, Lightspeed Venture Partners, Matrix Partners, Nexus Venture Partners, Orios Venture Partners, Sequoia Capital and T Labs (Times Internet). The event also saw talks and presentations by CEO’s of startups. Four such companies that showcased their products at the event are given below:
QikPod – qikpod.com
Founded by Nasscom veteran Ravi Gururaj, the startup is seeking to solve a fundamental pain point faced by E-commerce purchasers in India – “Taking Delivery of their Goods “. QikPod is hoping to address this issue by allowing consumers to rent out physical lockers that take deliveries from Courier companies at any time. The consumers can then pick-up their purchases at a time of their convenience. Some of the innovations he has planned to disrupt the packaging market is Musical Packaging and RFID tagging.
QikPod has raised US$ 9 million from investors that includes India’s largest E-commerce firm Flipkart, Foxconn and Accel Venture partners. QikPod has started operations in Bangalore and hopes to take its Automated Electronic Parcel Lockers to all the major cities of India by 2018.
99 Games – 99games.in
A company focused on building mobile games for the global market. 99 Games built Star Chef which went on to garner US$ 10 million (Rs 66 Crore) in revenue. The company has also built games based on Bollywood movies like Sultan, Dhoom 3 and Shah Rukh Khan’s Fan. 99Games was founded in 2008 and is based in the small town of Udupi at a distance of 400 km from India’s IT Capital Bangalore. The company has received investments in excess of US$ 5 million from Kaalari Capital and other venture capital firms
Adcamie – adcamie.com
AdCamie helps advertisers streamline their ad campaigns across multiple platforms on to a single dashboard. It provides a single interface through which users can access multiple systems.The company reported a revenue of US$ 0.5 million ( Rs 3.5 Crore) and claimed to have margins of 30%.
NetMeds – netmeds.com
Started in 2015, NetMeds counts Pradeep Dadha and Bruce Schwack as it’s founders. The CEO of the company Bruce has been working in India for more than a decade. He came to India during the IT boom to start Call Centers and BPO’s. Netmeds is today India’s only Pan-Indian Licensed Online pharmacy NetMeds. FICCI has predicted that the online pharmacy business is expected to touch Rs 20,000 crore by 2020. Netmeds hopes to emerge as the dominant player in this market.