Mergers and acquisitions make up the nutrition that boosts growth of startup ecosystems everywhere. With new-age technology being taken up by the entrepreneurial ambitions of a vibrant generation, India has seen one of the most robust ecosystems in the world for startups.
Over the years, YourStory has discovered and showcased India’s most promising technology startups, and continues to do so as it gets set for the seventh edition of its annual flagship event, TechSparks.
Here’s a trip down memory lane as we highlight the achievements of the five Tech30 startups, which have been acquired since 2011.
Profiles url: https://profiles.yourstory.com/organization/littleeye.co
Founders: Giridhar Murthy, Lakshman Kakkirala, and Aditya Kulkarni
Year of acquisition: July 1, 2014
Founded in 2010, LittleEye Labs is a software tool for analysing the performance of Android apps. Backed by GSF and Ventureast Tenet Fund, its tool monitors battery, memory, CPU, and data consumed by every app in your smartphone. It was used to analyse and optimize an app’s performance by Android developers. After its acquisition, the whole team moved to Facebook’s office in Menlo Park, California.
Founder: Srivatsan Venkatesan
Year of acquisition: 2011
Product: StorCube Backup and Recovery
Founded in 2010, CloudNucleus has built a cloud product for near-continuous backup support as well as support for virtualised environments and bare metal recovery capabilities. Vembu Technologies is an online data-protection software for Managed Service Providers (MSPs) and Managed Hosting Providers (MHPs). At the time of its acquisition, Vembu integrated CloudNucleus’ tech-data protection and disaster recovery software into its channel-focused solution StoreGrid.
Founders: Pankaj Kulkarni, Phaniraj Raghavendra, and Rakesh G Gopal
Year of acquisition: 2014
Founded in 2012, Colimetrics’ software products help companies improve efficiency by using its data analytics engine that mines data to improve employee productivity. Its flagship product, KeyMails, helps prioritise your overloaded email inbox using AI. Unable to earn revenue from the products, Colimetrics did a services project for ActMobile, and was acquihired in an all-stock deal as ActMobile liked its engineering talent.
Profiles Url: https://profiles.yourstory.com/organization/airwoot.com
City: New Delhi
Founder: Saurabh Arora, Achal Aggarwal, and Prabhat Saraswat
Year of acquisition: 2016
Founded in 2013, the platform delivers customer support on social media by predicting when a conversation is likely to go viral and alerting companies to act. Post-acquisition, Airwoot continues to be a separate entity, while its algorithm is integrated into Freshdesk for automation. In August 2013, they raised an undisclosed amount in funding from KAE Capital and prominent angel investors Rajan Anandan, Sunil Kalra, and Samir Sood.
Profiles Url: https://profiles.yourstory.com/organization/wagmob.com
Founder: Kalpit and Kavita Jain
Year of acquisition: 2016
Starting out as a consumer app in education, WAGmob went on to launch apps for teaching, training, and project management etc. Founded in 2014, the platform uses SaaS for proving better learning techniques. Its Gosalestrain feature helped corporates train their sales team on mobile. Though registered in the US, WAGmob team was based in Indore. US-based Edcast is a social learning platform.
India’s startup ecosystem is showing promising activities in M&A already this year. Eight months into 2016, there have been 92 acquisitions already.