Early-stage venture capital firm Axilor has inducted 20 startups as part of its accelerator programme for the Summer 2017 batch.
Axilor’s structured programme is for founders in the very early stages of their idea, as it comes with a host of benefits. At the end of the 100 days, most startups achieving the programme goals get a funding of $38.87K (INR 25 Lakhs) through Axilor’s Scale-up programme. However, his time, majority of the startups are post-launch and many post revenues. “Some of them need customer access to validate need or scale, a few others would like to figure out the business models and some need help with building the product roadmap and finally funding, in that order. Axilor’s program delivers these,” said Ganapathy Venugopal, Co-founder and CEO of Axilor in a Medium blog post.
He further added, “The institutional capacity to support early-stage startups in India is quite low – whether it is the structured programs to systematically improve the odds of success of startups, the market access that they need in their early days or the angel investment capacity. This has been Axilor’s mission and by doubling the capacity of this batch to 20 startups we have taken one more step to bridge these gaps. ”
Interesting Insights Of The Cohort
- The selected startups are from five sectors – consumer Internet (4), enterprise (6), AI (4), healthcare (3) and fintech (3).
- 80% of the startups are product companies.
- Theb – 9 of the 52 founders are less than a year out of college (some graduating next month) to very experienced folks starting up for the first time.
- While the median years of experience is six years, on an average,two years have been spent working on a problem similar to their startup idea.
- 15 of the 20 startups are from outside of cities like Delhi, Mumbai, and Chennai (signifying the depth of startup talent in other cities).
Meet Axilor’s Summer ‘17 Accelerator Cohort
Detect is a drone data-as-a-service company focussed on helping manufacturing industries ensure asset integrity and proactive monitoring leading to enormous cost reduction. Detect’s solution is currently in use in some of India’s largest oil & gas companies.
95% of breast cancers are curable if detected early. Yet 76,000 women die in India alone and more than 700,000 globally, every year. Niramai is working on a non-invasive, radiation-free, painless and low-cost, cancer-screening solution.
Genomic data holds the key to predicting health. Orbuculum uses AI on genome data to predict diseases such as cancer, diabetes, and other chronic diseases. Orbuculum’s AI tool will help doctors diagnose chronic diseases early, thus reducing cost and improving effectiveness.
Last-mile logistics is big with an estimated 2 Bn+ annual deliveries by 2020 in India alone. But they are also expensive, manual and error-prone escalating costs and compromising customer experience. Based out of Gurugram, Transporter.city’s SaaS product aims to automate the entire last-mile logistics planning process and helps increase same day delivery output to 95% with 25% lesser delivery fleet and 40% cost savings. It was founded in 2015 by Shailendra Singh and Soumya Arora.
Adya is a SaaS service based on a big data and machine learning stack that helps companies protect their data from employee theft and ransomware – a problem that affects more than 70% of enterprises. It was founded in 2016 by Deepak Balakrishna and Pradeep Das.
Events and business conferences are ubiquitous. But there is no tool that can assess audience engagement and generate actionable insights and analytics for the organisers. Crowd Product (CoPro) is pioneering the way audiences engage during events -in leading startup events including Nasscom Product Conclave 2016, TiE Product Showcases and many more VC events.
Student acquisition for educational institutes is highly expensive, conventional, and inefficient. Extraaedge is a ‘Salesforce+Hubspot’ for educational enterprises that generates a 3X RoI on marketing and sales spend. It is founded by Abhi Ballabh and Sushil Mundada and is based in Pune.
Event organisers want large audiences but struggle to manage pre-event and post-event audience engagement. Used by the likes of DJ Snake and Sunburn, Gig’s automated communication tool bridges this gap and connects concert organisers to their audience, right on Facebook Messenger.
Maroon is a predictive analytics platform that enables enterprise sales teams achieve up to 44% higher conversions on their marketing and sales leads.
Rucept is a powerful merchandising platform for high traffic content creators globally. It helps them monetise their art and engagement through products without investing in sampling, manufacturing, stocking, and distribution. Based in Delhi, it was founded in 2014 by Mudit Khurana.
Healthfin makes health care procedures affordable for consumers. Especially with low penetration of medical insurance, Healthfin helps patients secure credit support for expensive medical procedures. With an inventory of 4,000 hospitals and 9,500 diagnostic centres, HealthFin helps patients discover the best hospitals and secure funding.
Executing legal documents, especially for consumer needs (like rental agreements, PoA registrations etc) is time-consuming, expensive, and dependent on multiple parties. Legal Docs is the fastest growing, do-it-yourself portal that enables the entire legal process – documenting, verification, validation, and online registration. Currently, a partner to the Government of Maharashtra on the e-governance project, it also enables Aadhar-based verification for legal documents preparation.
Taxgenie is a platform that will help 30 Mn MSMEs be GST-compliant and manage their businesses with just a smartphone and spreadsheets. Founded in 2016, it is based in Mumbai.
Sector: Consumer Internet
Entertainment in India is one of the top five markets globally. But casting, a critical aspect impacting the quality of production, is archaic, manual and time consuming. Castiko revolutionises how casting directors discover, audition, and cast actors by bringing the entire cast recruitment workflow online. It is based out of Mumbai.
Sector: Consumer Internet
With around 50 Lakhs bite-sized lessons consumed and more than 4 Lakh games played, Knudge.me has established itself as on-the-go learning platform for users looking to improve their English skills. It is based in Bengaluru.
Sector: Consumer Internet
With an average session length of more than nine minutes on the app, Multibhashi makes the experience of learning a new language highly realistic, with audios recorded by native speakers and simulation of real life situations. It is currently providing lessons in four languages – English, Hindi, Tamil and Kannada.
Sector: Consumer Internet
YourQuote’s mission is to make everyone quotable – by helping people capture their thoughts on mobile and broadcast their words as ‘Google-able’ quotes. It is currently gaining rapid traction with over 40K organic downloads and 6K+ daily active users.
With 300K downloads and 80K MAUs, PocketPill has established the use case for solving a $300 Bn problem of medication non-adherence in chronic patients by bringing affordable medicine to everyone, saving costs, and improving health outcomes. It is basically a drugs dictionary and medicine app by doctors, pharmacists, and the common public to get information on generic medicines and brands available in India with accurate prices. It works offline (without Internet) after initial setup and gives full information about medicines including its use (mechanism of action), side effects, precautions, food interactions, prices and more.
Chronic disease management is protocol-driven, time consuming and requires frequent doctor visits. In cases like mental health, with the doctor-patient ratio of 1:1100, there aren’t enough doctors. Talkadoc’s product allows doctors to increase the acceptance of new cases by at least 25%. This is achieved by helping them automate the entire patient management process.
Currently focussed on mental health, it is already being used by over 30 doctors and 20K patients and caregivers, as per an official statement. Based out of Hyderabad, the startup was launched in 2016 by Chaitanya Josyula and Anurekha Sivakumar.
Healthcare is expensive all over the world. More than 7 Mn people travel to other countries every year in search of cheaper and more effective treatments – 300K travel to India alone. Treatgo is an online platform to help international patients and referring doctors compare, choose, and reserve medical treatments. It was founded in 2016 by Nithin John, Eby Chembola, Yaser Hameed, and Renjith Prince and is currently in beta stage.