Always deliver more than expected - your startup fix for the week
Larry Page, Co-Founder, Google, once said, "Always deliver more than expected." And IndiaMart did just that. The 23-year-old company that was set up at the height of the dot com boom and went on to survive the bust, launched its Initial Public Offer (IPO) on June 24, 2019, to raise over Rs 474 crore.
Founded by cousins Dinesh Agarwal and Brijesh Agrawal in 1996 with seed money of Rs 40,000, IndiaMart InterMesh is an online B2B marketplace for business products and services, connecting buyers with suppliers. As of FY18, IndiaMart had close to 5.98 crores registered buyers and a catalogue of over five crore products, supplied by over 47 lakh suppliers. Its mobile app has close to 10 million downloads to date on the Google Play Store.
And guess what? The IPO was subscribed 36.16 times on the final day of bidding!
Dinesh Agarwal, Founder & CEO of IndiaMart InetrMesh.
Talk about motivation. If that is not enough to rouse your spirits this Monday, we have a list of startup stories to inspire you!
Founded by Tushar Jadhav and Ashtesh Kumar, Manastu Space has developed a green satellite propulsion system. The spacetech startup is helping propel satellites with a system that is 25 percent more powerful and 60 percent cheaper than conventional chemical propulsion systems.
Tushar Jadhav (middle) met Ashtesh Kumar (right) in 2016 when both were working on Pratham, IIT Bombay's student satellite project
Bengaluru-based tourism startup WildTrails wants to change the way wildlife lovers choose their holiday destinations. In a video interview with YourStory, Founder Manjunath Gowda explains how it uses AI and ML to predict the chances of spotting a particular wildlife species during a certain period.
Over nine years, Adda247 has notched up 40 million online users in 75 locations, and clocked a revenue of Rs 51 crore last year. Now, the edtech startup wants to launch an IPO in the next five years. Adda247 provides video courses, mock test series, physical books, and ebooks. The platform has witnessed revenue of almost Rs 51 crore in the last fiscal.
Anil Nagar (L) and Saurabh Bansal (R)
Data science startup Jovian is building tools, workflows, and collaboration stacks to help businesses track and reproduce data science projects, and automate repetitive tasks. In this video interview with YourStory Business Editor Vishal Krishna, the founders tell us more.
Having recognised the need for school education to become more engaging – especially in rural and semi-urban schools - three colleagues came together to launch Learning Matters, a technology-driven solution that not only makes learning more engaging but also helps teachers upgrade their skills.
Learning Matters Founders (L-R) Saras Ramamoorthy, Ramamoorthy G, and Gowri Mahesh are working on creating tech-driven solutions for the education sector.
Ashish Gupta, Prasad Akella, and Krishnendu Chaudhury, three PhD holders in technology, have built a platform that uses ML to change manufacturing productivity, inventory, and supply chain management. In a conversation with YourStory Business Editor Vishal Krishna, Drishti founders tell us more.
Prasad and Krishnendu
You know gaming is here to stay when a biotechnology graduate researching stem cells at Harvard Medical School sets up a gaming startup. Aayush Agarwal co-founded Ahmedabad-based bootstrapped Zhakaas Games in 2018. The game design and development startup, which has tied up with the likes of Zapak Games, now wants to step up its game.
The team at Zhakaas Games is looking to launch five new games in 2019.