6 rising startups in India – April 13

Photo credit: Pixabay.

India’s businesses are powering through the middle of this week, with companies in the fintech, marketing, fashion, wedding, and task management industries all seeing funding. Some saw million-dollar rounds. Get ready to read about this promising handful of startups.

KredX

Bangalore-based invoice discounting startup KredX has bagged US$750,000 from Bangalore-based seed fund Prime Venture Partners. The startup links small and medium-sized businesses with individual investors. These businesses can upload their invoices showing money owed to other businesses. Investors can view the invoices and pay parts of them while receiving the opportunity to discover new businesses to fund.

Invoice discounting has been extremely beneficial to small and medium-sized businesses in the past, but it’s an area that lacks organization, said CEO Manish Kumar in a statement.

Partnering with banks, accounting firms, and law firms as well as using a credit risk assessment program helps keep transactions secure. KredX has already processed over 1000 invoices (ranging from US$1,500 to US$150,000) since its initial, by-invitation-only launch, and is now launching its service commercially.

KredX was founded by IIT Kanpur alumni Manish and Anurag Jain, as well as Stanford graduate Puneet Agarwal in 2015.

BeaconsTalk

Mumbai-based proximity marketing startup BeaconsTalk has raised a pre-series A round of funding. The amount was less than US$100,000 but otherwise undisclosed. Ambit Pragma Ventures co-founder Rajeev Agrawal and Prashant Gooty, a senior executive with an advisory firm, led the round.

Founded in June last year by Vinay Hinge, Ashish Kumar, and an unnamed investment banker, BeaconsTalk uses the Internet of Things (IoT) to offer contextual mobile advertising. Before and during purchases, it shows ads to users that are relevant to their needs. It has sensors set up in stores or food and beverage outlets. Based on customers’ proximity to these sensors, it shows relevant ads (a customer shopping in the shoe section of a department store would receive shoe-related ads).

So far, it has deployed 1,500 sensors. It hopes to up that number to 10,000 by October.

BeaconsTalk runs on a subscription model and counts Godrej Nature’s Basket, Burger King, Reliance Brands (Diesel Jeans), Tego Fit, one shopping mall and 93 food and beverage outlets among its customers. It is present in Mumbai and Bangalore and plans to move to Gurgaon, Pune, and Hyderabad in the next three months.

Hippily

Legal Raasta

WedWise

MagicX