Amrita TBI Incubator To Invest $120 K In 4 Startups

Amrita Technology Business Incubator (TBI) will invest $120,000 in seed funding for four startups. These startups have been shortlisted out of 702 startups from all over India at its PitchFest. The winning startups are Preksh Innovations, B2BSphere, MaaxMarket and Meladath Auto Components.

The Amrita TBI PitchFest was organised in partnership with the Government of India, NASSCOM 10K, Indian Angel Network and FreshersWorld. The participant startups had product/service offerings spanning more than 25 areas, including IT, IT services, mobile apps, advertising/media, agriculture, financial services and social media.

Amrita TBI funds, incubates and nurtures both technology and social businesses. It provides an ecosystem for a startup company to turn an idea into a product that is commercially viable. Till now, Amrita TBI has mentored 181 startup ideas, built 31 products, filed for five patents and trained 6,700 students.

Here Is A Brief About The Winners:

Preksh Innovations: Bangalore-based Preksh was founded in July 2015 by Kodandarama M A, Saikat Sinha, Sathvik Muralidhar and Sharath Chandrashekar. Preksh is a visual commerce marketplace and has created a Patent-Pending Technology, which enables users to virtually walk-through their favourite offline stores, ‘pick’ products and shop.

B2BSphere: Bangalore-based B2BSphere was founded in February 2015 by Sudhi Seshachala and Babu Jayaram. It is a social marketplace for buyers and suppliers to connect and exchange information at a global level.

MaaxMarket: Texas-based MaaxMarket was founded in September 2015 by Lenin Srinivasan. It is cloud-based marketing automation platform designed for businesses to automate follow-ups. All engagements are personalised based on customer’s online behaviour.

Meladath Auto Components: A Bangalore-based automotive startup company, founded by an R&D engineer Rakesh MK. It focuses on design and development of innovative compact overrunning clutch for two wheeler application.

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