Exclusive: 6 Startups Raised On-The-Spot Funding Of INR 10 Lakh Each At IITB’s Event

IIT Bombay’s Entrepreneurship Cell today hosted a on-the-spot funding event “The 10-Minute Million“ as a part of the entrepreneurship summit.  The competition gave a chance to 8 startups which were shortlisted from 260 entries to pitch to a panel of 12 angel investors (5mins pitch + 5mins qna) and get an on-the-spot decision on financial backing of INR 10 lakh!

Here are the 6 startups that raised INR 10 Lakh funding against 4% equity.

InstaBounce: InstaBounce is a ‘going-out’ app. Users can go through a curated list of events, get inspired by an event by reading a short description about it and can book the event in just 2 taps. It does not focus on just one vertical of events, but users can find events varying from a wine and food pairing event to cocktail tasting of prohibition era cocktails to karaoke, clubbing, live music gigs and many more. It show users what all exciting things can they do today! This app exists because, most of the people decide it at the last minute that where they have to go and at the same time, most of the event are not sold out, surprisingly, there is no platform where users can discover events at the last minute!

Investors: VC Karthik, Aniruddha Malpani, Ajeet Khurana

Faaya: Faaya is an online platform where people get to design their own outfits and which is then custom tailored to their measurements. Its an engaging 3D platform where you pick designs and change/add elements or design something from the scratch and get it made only for you. Each design is unique and i made only once.

Investors: Ajay Pandey, Anil Chokhani, Aniruddha Malpani, Bharat Banka, VC Karthik, Ravi Guruaj, Suneel Bandhu, Sunil Kalra, Taha Nabee, Vijay Talreja, Ajeet Khuran

CleverSharks: “Thinking about planning a holiday travel trip?” Bingo! there are tons of websites to help you out with authentic real-life guides. “Thinking about planning the ultimate travel trip i.e. your career?” Error 404, No authentic website found. CleverSharks aim to become the best answer to this problem. The startup is targeted at building a career platform in engineering, with over 9 Million target audience in India. With the combined power of data analytics and ‘authentic’ content, it aims to solve the pervasive problem of the Indian engineering community by adopting a 3 way approach. Firstly, based on data analytics, it’s ‘Career Intelligence tool’ projects career trends, alumni career paths, switching options in relevance to user interests, branch, sector & company. Secondly, by covering tons of interviews & case studies of diversified alumni via our ‘Vault’. Thirdly, in addition to acting as a knowledge source of careers, it’s moderated ‘Knowledge Center’ forum would also solve personalized and specific queries of students & young professionals.

Investors: Vijay Talreja, Sunil Kalra, Vikram Chachra

Chloroplast Foods: Healthy snacking has become a challenge in today’s fast paced world. Due to the lack of time and patience people end up making poor eating choices which gets invariably reflected in our waistlines. www.snackexperts.com is an online healthy snack ordering platform which provides unique and wholesome snack options to choose from. The startup claims to manufacture and deliver healthy, nutritious and tasty snacks directly to your address.

Investors: Ajeet Khurana, Taha Nabee, VC Kathik, Ravi Gururaj

Dealwithus: The ecommerce industry in India is thriving with more online denizens than ever choosing to shop, order food and recharge their mobiles online. The cashback sites which are currently present, manage to capture just 10% of the e-commerce market. Dealwithus aims to target the remaining 90% with the fast, efficient, user friendly website, and Channelized marketing strategies. In its first six months of operation it has managed to amass sales of 1.3 crores without any capital investments. The website’s rich features like automated link building, cashback meter, android app, mobile website is able to provide customers to use it in minimum time and can get their cash back. Customers can use the cash back by recharging their mobile phones or transferring the money to their account from the Dealwithus wallet. Dealwithus also works in collaboration with NGO’s and allow you to donate your cash back for social cause.

Investors: Ajeet Khurana, Ravi Gururaj, VC Karthik, Sunil Kalra, Vijay Talreja, Vikram Chachra, Suneel Bandhu

Leaf: Put an end to all your doubts, fears and anxieties, and feel empowered with the Guardian. Now wander, stroll, loiter stressfree as Guardian promises you freedom, faith and protection just like friend. State of the art design is not only a treat to your aesthetic senses but is of immense utility. Guardian works on a auto sensing principle which measures your stress, anxiety, fears and sends alerts to your friends, family and police and the voluteers of the Guardian community in the proximity to inform about your location. Prompt notifications are received by the concerned on their mobile phones and your location can be easily tracked by the app that traces Guardian’s locale and immediately guides the aide to you.

Investors: Ajeet Khurana, Anirudha Malpani, Taha Nabee, Anil Chakahni, Sunil Kalra, Ajay Pandey, Vijay Talreja.