In yet another development, Y Combinator has announced its W’17 batch and five more Indian companies have made it to the mentorship programme. These include Playment, Bulk MRO, Servx, WiFi Dubba,and Supr daily.
The accelerator invests $120K in startups for a 7% equity stake in the selected startups. It normally takes in a large number of startups (107 last year) and has funded over 1,464 startups since 2005. The selected startups then move to Silicon Valley for three months, where it also helps them pitch to investors.
Here’s a quick look at the selected Indian startups in this batch:
Subscription app Supr Daily, which delivers daily consumable goods such as milk, bread and eggs to users was founded in 2015 by Puneet Kumar (alumnus, IIT-Bombay) and Shreyas Nagdawane (alumnus, IIT-Bombay and IIM-Bangalore). It follows a direct-to-consumer model adopted from the daily milk use-case in India to make deliveries, which has allowed it to bring down the delivery cost per order, to as low as INR 1-INR 3, as compared to the ecommerce benchmark of INR 50.
Supr Daily has also received seed funding from Venture Catalysts, in December 2016, as well as from Snapdeal founders Kunal Bahl and Rohit Bansal. Currently active in many parts of Mumbai, the platform will be using the funds raised through this round to scale up its pan-Mumbai operations in the next six months. The startup claims to have delivered more than 500K milk orders with 90% daily repeats.
ServX is a marketplace for authorised automotive service providers. The Delhi-based automotive service provider startup was founded in 2015 by Anubhav Deep, Gaurav Srivastava (both in charge of operations), Sangeet Verma (responsible for technology), and Akansh Sinha.