2018 was a landmark year for the Indian tech industry with deep-tech startups finally proving naysayers wrong who previously stated that they were not prepared to offer top-notch solutions and In-house products for enterprises and end customers. However, global recognition was gained by top tech start-ups in the country in areas like Industrial IoT (Internet of things) and machine-to-machine analytics among others.
Futura, from Bangalore, was arguably the toast of 2018 in the deep-tech B2B (business to business) space. This is an industrial IoT startup and it gained immense recognition when top research companies Gartner and Frost & Sullivan acknowledged its solutions in AI (Artificial Intelligence). Hitachi, the Japanese behemoth also invested sometime later in Futura which is now targeting future customers in Fortune 1,000 companies. Hitachi is already using Futura’s services for its businesses in Japan while it is also negotiating with one of the biggest oil drilling companies globally.
Futura marks the growth of Indian deep-tech startups on the global scale and stage by all means. B2B deep tech startups like Futura are now carving their own identity and several of these companies are also raising Series B and C rounds as well. Altizon Systems Private Limited from Pune also gained recognition from Gartner as a noted tech firm working in Industrial IoT (Internet of things). This firm has also successfully raised funding. The number of deep tech startups being set up in India has increased by a whopping 50% for 2018.
A large majority of these startups operate in the B2B segment which comprises of 43% of total startups that were founded ever since the year 2018. Another Pune-based startup, Precimetrix Technologies Private Limited, has entered into a tie-up with Microsoft for implementing its plant monitoring technology for Piramal Glass factories. Microsoft is also collaborating with around 30 startups which are working for big enterprises. This initiative will be on-boarding these companies for marketplace and co-selling platforms where they can reach out to big enterprise customers.
Nanobi is another deep tech startup that offers cloud based analytics and already works for several top United States healthcare companies. The company is working to fix problems that have plagued the healthcare insurance system which is highly digitized. Other startups which have raised funding and found their sweet spot include KaHa, Uniphore and Rubique among others. PineLabs has raised a whopping $125 million from PayPal and Temasek.
Even the Dubai Police inked a MoU with Staqu Technologies which is based in Gurgaon for getting predicting solutions. SigTuple is another startup in this space that has raised $19 million from IDG Ventures and Accel Partners among other investors. Even Reliance Industries funded Netrdayne the computer vision startup which is based in the United States. A machine learning based startup from Hyderabad named Tupplejump made news when it was acquired by none other than Apple.
Bangalore based Halli Labs, the AI startup, was acquired by Google and joined the Next Billion Users outfit at the latter. Bangalore based Nikki.ai also got an investment from Sap.io which is based in San Francisco. There are more than 700 advanced technology startups in the country at present and artificial intelligence or AI is the segment which is witnessing the highest growth. Several other acquisitions include SmarterMe, the personal sales assistant, which was purchased by e-Zest Solutions from Detroit and SIFTR Labs which was acquired by APUS, owned by the Chinese APUS Group.
India Accelerator, the only GAN partnered accelerator company in India, provides mentorship and funding to early stage Tech Startup in India through their 4-months intensive Cohort Program targeted to the Founders.
If you are a Tech Startup and catering to the B2B or to the B2C audience and have been looking for funding, mentorship, guidance, connects to scale your business to the level, then apply to the India Accelerator S2019 Cohort Program. If shortlisted, your business can receive funding of upto $30,000 and other assistance to the business in terms of connects and scaling up the competency level by doing revalidating the Product, Process and Processes of the startup by industry subject-matter experts. Apply now – https://bit.ly/Apply_S2019