3 rising startups in India – June 9, 2016

Photo credit: Pixabay.

A fintech startup built on a buy now, pay later model tips the scales on the list today, but a jobs platform and a tea startup haven’t done too shabby either. Check out three startups that have received funding in India today.

Teabox

Photo credit: Pixabay.

Here’s a combination you don’t see every day: tech and tea. Teabox, which delivers tea from India to countries all over the world, has raised an undisclosed amount of funding from one of its customers, angel investor Cameron Jones from Singapore. Cameron is also the managing director of Credit Suisse.

Teabox’s tea comes from Darjeeling, Assam, and the Nilgiri mountains and delivers to 94 countries around the world. It uses tech to reduce shipping costs (because historically, tea deemed too expensive hasn’t been well recieved).

Teabox, also backed by Ratan Tata, was founded in 2012 by Kaushal Dugar. Originally called DarjeelingTeaXpress, it rebranded to Teabox in October 2013.

ePaylater

The name’s very straightforward – Mumbai-based ePaylater lets customers make purchases and gives them 14 days to figure out if they want to pay for their items. And it’s just brought in a whopping US$2 million in seed funding from three high net worth individuals. The individuals, who were not named, have invested in fintech startups before.

The startup was founded in December 2015 by Aurko Bhattacharya, Prasannaa Murlidharan, Uday Somayajula, Shanmunathan Thiagaraja, and Akshat Saxena. The service is meant for products that people purchase frequently but are of little cost. It gets a commission from each transaction from the merchant and uses a number of factors, including customers’ online behavior, to determine a credit limit.

Kickstart Jobs

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Ah! Ventures has chosen its next investment in Gurgaon-based talent acquisition startup Kickstart Jobs. Other participants in the seed funding include Wyzen Tech founder Vivek Joshi, Team Works Art chairman Mohit Satyanand, Kellogg’s Asia Pacific president Amit Banati, and Dun and Bradstreet Asia president Arun Khanna.

Founded by Samriddhi Malhotra and Abhishek Srivastav in 2013, the startup operates in Delhi, Noida, and Guragon. It focuses on blue and gray collar jobs, and claims to have registered 5,000 candidates.

Babajob and AsaanJobs are other startups that help place candidates for blue collar work.