5 rising startups in India

It’s rare for a technology startup to go public in India, which is why computer security software-maker Quick Heal’s IPO was so exciting. Laundry company Urban Dhobi also got attention today – is the sector officially mature enough for startup success?

Quick Heal

After announcing its IPO a few days ago, Quick Heal raised US$19.7 million from anchor investors. Anchor investors generally show up a few days before a company goes public in order to buy shares in advance and increase popularity of the stock. This is also supposed to provide a boost of confidence for other potential IPO investors.

The IPO is taking place this week.

See: From computer repair to IPO: The untold story of two of India’s smartest multimillionaires

Moglix

In his seventh investment this year, Ratan Tata put money into Moglix, a marketplace for industrial tools. The end-to-end marketplace finds manufacturers and distributors across Asia, gets them online, and fulfills a customer’s order until his doorstep.

While many dream of turning India into a manufacturing hub, the sector suffers from disorganization and it can be difficult to find the right tools. It will be interesting to see if ecommerce can make this easier.

See: One man, over 25 investments: Ratan Tata’s love affair with startups

Gray Routes

Photo credit: Halfbisqued.

Last-mile logistics provider Gray Routes Technology raised its second round of funding for an undisclosed amount. Both new and existing investors participated in the round, with Mahesh Parasuraman, the co-founder of Amicus Capital joining the fold. Before this, the startup had raised a round of US$110,000 from angel investors.

The Mumbai-based startup handles hyperlocal technology for last mile deliveries,a nd equips users with everything from heat maps to GPS trackers.

Urban Dhobi

In another play for the laundry scene, Jaipur-based Urban Dhobi raised an undisclosed amount of angel funding. The money will be used to expand its operations and team.

Founded last year by Satyam Mishra, Prakhar Pagaria, Tushar Thettayil, and Saransh Sindhu, the startup aggregates existing laundromats and claims to have serviced over 2,500 customers. It promises to fulfill deliveries within 24 hours.

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