Top 10 Hyderabad Startups capitalizing on this flourishing ecosystem
Hyderabad is a great place for startups and by looking at the number of startups which is been created it's truly amazing. We provide you with the 10 startups which are situated in Hyderabad and there is no particular order. Does that mean there is no other startup from hyderbad? no way, there are many and in the day and months, we will get them covered too.
StanPlus, an instant ambulance business, was formed in 2016 by three INSEAD graduates, Antoine Poirson, Jose Leon, and Prabhadeep Singh, with the intention of becoming the Uber of ambulances. They've accomplished this by developing a technology platform that combines and standardises hospital ambulances, commercial operators, and government-run services, as well as alternative possibilities like air ambulances at comparably low pricing via a business vertical called StanAir. They also partnered with Grip Invest in 2021 to lease 100 vehicles, bringing its total fleet of ambulances to 900.
StanPlus also collaborated with over 40 hospitals in tier 1 and tier 2 cities throughout India to handle their medical response systems and patient transportation, which includes over 3,000 ambulances. The startup's investors invested $20 million in their Series A round in 2022, increasing its total financing to $22.7 million. StanPlus was on target to end the fiscal year 2022 with sales of roughly $10 million, with plans to triple that in the fiscal year 2023.
Ekincare is a B2B health tech platform. Ekincare, founded by Dinesh Koka, Kiran Kalakuntla, Dr. Noel Coutinho, and Srikant Samudrala, works with corporations to provide health insurance plans to their employees, and they are doing very well. The firm was founded in 2014, and Kiran lived in Seattle; however, his parents remained in Hyderabad, which created a problem: Kiran, as an NRI, had a difficult time keeping track on his parents' health. Things came to a head when Kiran's father underwent surgery before doctors could even determine the fundamental cause of a problem, and no one in Kiran's family understood why the procedure was even advised; they simply did it because they were instructed to.
As a result of this problem, Kiran created a platform where patients could digitally save and share their medical information with family members. To put a new twist on this concept, Ekincare would analyse the patient's health data and make personalised suggestions. The company eventually shifted to a more successful B2B2C model, in which employee-friendly businesses would foot the price and employees would be the ultimate beneficiaries. Ekincare presently has over 450 corporate clients, which translates to 1.5 million employees benefiting from ekincare's services, resulting in an amazing 300,000 medical interventions that would not have occurred without Ekincare. Ekincare revealed that their ARR grew by 3.5X in the fiscal year 2022. Ekincare received a $15 million Series B investment in March 2022, increasing the total cash raised from investors since 2014 to $20.7 million.
Skyroot Aerospace is a space tech startup. The firm was founded in 2018 by two former ISRO scientists, Naga Bharath Daka and Pawan Kumar Chandana, with the purpose of making spaceflight inexpensive, dependable, and frequent. This is such an obvious and simple to support purpose, but they're not just talking about it; they're doing it. They successfully test-fired an upper stage rocket engine called Raman in August of 2020, and then in December of 2020, they became India's first private sector company to successfully test-fire a solid propulsion rocket-stage engine designed and developed by them, called Kalam-5, and finally in September of 2021, the company signed an MoU with ISRO, giving them access to ISRO's facilities and expertise.
This was a significant victory for the firm, and they have since tested and fired Dhawan-1, India's first privately produced completely cryogenic rocket engine. Their current project, Vikram-1, will be India's first privately built and developed launched spacecraft, and they want to complete it before the end of 2022. Skyroot is currently in the development stage and has not yet begun commercial operations, thus they have been maintaining their activities using venture funding obtained from their investors. To far, they've secured $17 million in three rounds of funding: a seed round, a series A round, and a convertible note round.
Pure EV is an electric scooter startup. Pure EV was founded in 2016 by two IITians, Nishanth Dongari and Rohit Vadera, as an IIT Hyderabad fostered firm, and is now one of India's leading electric two-wheeler startups. Their most recent product, an electric motorbike dubbed the Etryst 350, is totally conceived, developed, and built in India, according to Pure EV, but the business also sells electric scooters, the EPluto 7G and the ETRANCE NEO.
Pure EV will have delivered more than 50,000 electric two-wheelers by May 21st, 2022! Pure EV's road hasn't always been smooth; many of their scooters have caught fire in recent months, but they've responded by voluntarily recalling 2,000 electric scooters and are working hard to ensure this doesn't happen again. The startup's major investor, Hyderabad-based angel V.C. Nannapaneni, spent $35 million into the firm in 2019, and they've come a long way with this angel money and the income generated by their scooters since then.
Swipe is a B2B Fintech firm. The company was founded in 2021 by two serial entrepreneurs and friends, Aditya Vemuganti and Sri Teja Allaparthi. The goal was simple: make life easier for small and medium-sized businesses (SMBs), of which there are upwards of 63 million in India. The problem faced by these SMBs is a three-step problem: billing, accounting, and then tax filing. Now, competitors like Khatabook and OKCredit handle the first two parts of this process, as digital ledger and bookkeeping solutions, but the third part, tax filing, is handled by the SMB themselves - they must take the billing and invoicing data generated by these apps and import it into a new app to file their returns.
OKCredit and Khatabook have blog posts explaining how to file your taxes, and this is where Swipe really shines - it is a comprehensive, all-in-one platform where an SMB can generate bills and invoices, which are then tallied, so Swipe is also a bookkeeping platform, and then when it comes time for the SMB to file their GST, all that information is already there in Swipe and users can generate GST reports with a single tap. Inventory management and a free online shop builder are among the other capabilities. Swipe's solutions are completely free, which is why over 100,000 MSMEs have enrolled with the site since June 2021. Swipe was a member of Y Combinator's Summer 2021 group, and they received a $125,000 pre-seed investment from YC before closing a $2 million seed round from over 25 investors, including Y Combinator, Kunal Shah, and GFC.
Recykal is a waste management and recycling firm. Abhay Deshpande, a serial entrepreneur, founded the firm after spending two years researching the sector, visiting trash dealers and ragpickers to learn how they operate, how waste is gathered, and how it is handled and managed. Finally, in 2017, Abhay founded Recykal with his cousin, Abhishek Deshpande, and a previous partner, Anirudha Jalan. Initially, their startup followed a B2C model, working with ragpickers who collected waste from residential homes and deposited it at Recykal's recycling centres, but after two years, they realised that they could have a greater impact if they switched to a B2B model, processing waste for businesses rather than everyday people.
Recykal deploys a team of garbage collectors to collect this waste and then deposit it in the startup's recycling centres. Aside from that, the firm has built Asia's first circular economy marketplace where buyers and sellers of recycled materials may deal, and Recykal has been able to create a financially viable business from these two business lines. In 2020, their gross waste value (GWV) was 20 crore rupees, with income accounting for 5.2 crore rupees. Recykal raised $4 million in a pre-series A financing in 2020 and $22 million in a venture round in 2022 to help make India and Asia more ecologically sustainable and clean.
AdOnMo is an advertising startup. Krishna Chaitanya Bommakanti, Sandeep Bommireddi, and Sravanth Gajula formed the firm in 2016 with the purpose of revolutionising outdoor advertising, and their method is two-fold: 1. make outdoor advertisements seem nice with elegant, appropriate frames as you'd see on a picture or portrait, and 2. put them in places where people would notice them, such as residential communities. When you're driving down the road and see a billboard, or when you're at a mall or airport and pass past an ad every few seconds, the conversion rate for firms selling their products or services is low - the viewer of the ad is distracted. However, when they are at home, in their society or apartment building, they are calm and comfortable, and owing to COVID-19, which enhanced e-commerce penetration in India, they are willing to shop on their smartphone.
AdOnMe built a prototype for this service in 2017, testing mounted digital screens on just 5 cabs in Hyderabad, but today the startup has partnered with over 700 brands, they have 18,500 screens across 12 cities in India, and things are going well for them: their sales turnover stood at 3.27 crore in the fiscal year of 2021, and they raised a $15 million corporate round, where Zomato acquiesced.
Darwinbox is a SaaS unicorn. The company was founded in 2015 by Chaitanya Peddi, Jayant Paleti, and Rohit Chennamaneni, and the idea for Darwinbox arose during a casual conversation - the co-founder trio were sharing their experiences with HR softwares at their corporate jobs, and realised that none of the available products focused on the entire HR lifecycle. Darwinbox was created to fill this void. Darwinbox now automates day-to-day HR procedures such as recruiting, managing, developing, and optimising personnel and has a global presence in over 90 countries.
As of January 2022, their ARR is at $30 million year on year. Darwinbox became a unicorn in January 2022, after completing a $72 million Series D round - its investors have invested upwards of $107 million into the company - and is currently in the very early phases of contemplating an IPO (not confirmed)
Bhanzu is an edtech startup. Neelakantha Bhanu Prakash, the World's Fastest Human Calculator at the age of 15, created the firm. According to the BBC, "Neelakantha Bhanu Prakash is to math what Usain Bolt is to sprinting." Now, when Neelakantha grew older, he wanted to eliminate the math phobia that so many children had, so he began his entrepreneurial adventure in June of 2020, just after the COVID-19 epidemic began, and he and his team began teaching math to students through recorded lecture videos on YouTube.
Later that year, Neelakantha founded Bhanzu, with a target client age range of 5 to 16, and three courses cost between 15,000 and 65,000 rupees. The business presently has over 30,000 students across ten countries, and they just secured a $2 million seed round from investors such as Lightspeed and Kunal Shah, and they are in discussions to raise a $15 million Series A, which would value them between $70 and $75 million (numbers needs to be verified)
Footwear startup, Neemans, and like many D2C brands, this one was born out of a personal struggle: Taran Chhabara was travelling to Spain in 2016 when he almost missed a train because he’d packed too many shoes! At the time, he thought that he needed to bring running shoes, casual shoes, lounging shoes, and extra shoes, but after this experience, he came up with the idea for an all-in-one shoe, and began to do research into shoe manufacturing hubs around the world. During this research, he came across a material called merino wool, which Australia had in abundant supply, and it was natural and renewable, so in 2018, Taran launched Neemans along with Amar Preet Singh - a natural, sustainable, D2C merino wool shoe brand.
Neemans branched out from the D2C model by putting their shoes on the shelves of offline stores like Shoppers Stop and Lifestyle, as well as online marketplaces like Amazon and Flipkart, allowing them to grow their revenues and customer base by 15X in 2021, and raise $5.15 million dollars as part of their ongoing Series B round, which will likely close at double or triple this amount, and this $5.15 million has valued them at between $25 and $27 million, according to Entrackr. The startup's revenue for the fiscal year 2022 was 50 crore rupees.
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