It seems there can never be a dearth of new startups sprouting up in India. Although 2016 has not been kind to startups in terms of funding, the launches of startup funds have never stopped creating headlines. State-owned Oil and Natural Gas Corp (ONGC) recently set up a Rs 100-crore startup fund to nurture new ideas which will include seed capital, hand-holding, mentoring market linkage, and follow-ups. Private sector lender Kotak Mahindra Bank rolled out an ‘Innovation Lab’ in Bengaluru to make investments in startups and identify and tap into the best technology to impact its operations.
The setting up of new funds always gives startups reason to rejoice and dive deeper into product innovation, and this week has been no different. The major talking points have been LatestOne.com launching a managed marketplace, Jugnoo introducing a ready-to-eat meal delivery service, DataWind’s affordable smartphone, and LawRato.com’s free will-making tool.
LatestOne.com launches a managed marketplace
Online mobile and tech accessories firm LatestOne has launched a managed marketplace which is expected to list products from over 500 mobile and tech accessories vendors over the next three months. With this initiative, the startup plans to increase the catalogue size from 10,000 to 30,000 unique products. Operating through its fulfilment centres in Delhi and Hyderabad, LatestOne.com has delivered more than a million orders and currently processes an average of 3,500 B2C orders per day on an inventory-based model. The startup will add 20,000 new products to their existing catalogue and reach two million registered customers by the end of this quarter.
Jugnoo’s ready-to-eat meal delivery service
Chandigarh-based Jugnoo has launched a meal delivery service which will help users order ready-to-eat meals and get them delivered at their doorsteps. The service is a part of its recently launched Fatafat app. The startup claims that the orders will be delivered by Jugnoo drivers during their free time. The service is operational throughout Chandigarh, Panchkula, and Mohali, and takes orders between midnight and noon. Jugnoo is also planning to launch meals for evening snacks and dinner with a week.
DataWind smartphone at Rs 1499
Low-cost electronics manufacturer DataWind has launched an affordable smartphone at Rs 1499 which comes with one year of free internet browsing. PocketSurfer GZ’s features include touch screen, rear camera, and Linux operating system. After contributing to the tablet segment with Ubislate, PocketSurfer GZ is DataWind’s attempt to tap the smartphone market and expand its product portfolio. This device comes with DataWind’s proprietary web delivery technology which they claim offers high speed internet browsing at lowest data costs possible.
Online free legal will-making tool
Legal tech startup LawRato.com has launched MakeMyWill, an online will-drafting tool allowing users to generate a legally binding will for free. The tool helps users in segregating the authority of the assets before they pass away and define alternate beneficiaries, executors for their will, guardians for minor children, and even provisions to disinherit family members.The startup claims that the service is for free. Multiple lawyers review the generated document to ensure it is legally binding. Users can download a copy of the will once the data is entered and sign it in the presence of two attesting witnesses to legally validate it. According to LawRato, a will may be registered at the local SDM office, but it is not a mandatory requirement.
Amidst lots of ups and downs, be it the 40 per cent decline in the H1 2016 funding ($2.1 billion) as compared to H1 2015 ($3.5 billion), startups shutting down operations, or devaluations, the startup fraternity does not slow its pace when it comes to innovation. Watch this space to explore more such new and exciting products from the startup world.
- product launch
- Private equity
- tech startup
- Kotak Mahindra Bank
- Integrated Mining
- free legal will-making tool
- web delivery technology
- free internet browsing
- DataWind smartphone
- Jugnoo’s ready-to-eat meal delivery service
- managed marketplace