Meet 12 startups selected by Axilor’s accelerator programme for its summer 2019 cohort
Axilor Ventures, a Bengaluru-based accelerator and seed fund, has selected 12 startups as part of its latest summer 2019 cohort of its accelerator programme. This is the ninth cohort and comprises 12 startups across consumer tech, commerce, enterprise, and fintech.
Like previous cohorts, most startups in this cohort are bootstrapped, post-launch, and in the early stages of traction. The Summer'19 batch will graduate in mid-August.
Commenting on the new batch, Ganapathy Venugopal (VG), Co-founder & CEO of Axilor Ventures said,
"Axilor’s Accelerator Programme has emerged as the programme of choice of ambitious founders of bootstrapped startups. Going by the results so far, we are quite happy to see the success rate of our startups and Axilor becoming an important pipeline for the top tier VC firms."
Below is a detailed description of each startup of this batch.
Canopi India - Founded by Prabal Krishna, Abhay Asrani and Mahesh Sagde in September 2017, Canopi India is a supply chain finance marketplace, connecting MSME vendors and dealers with institutional lenders. The startup runs supply chain finance and trade finance programmes for its MSME clients and works with Banks, NBFCs and leading corporates. It specifically focusses on the large but unserved MSME export finance market, helping export focussed MSMEs access collateral-free credit. It has customers in the pharmaceutical, chemicals, textiles, logistics and FMCG sectors.
TimePay - Founded by Pawan Bindal and Animesh Kejriwal in June 2018, TimePay is a virtual collections manager that helps businesses get paid faster by their customers. Small businesses in India are losing $3 billion each year due to delayed payments from customers. TimePay is helping solve this problem using a unique CRM approach. It is already processing annual invoice value of over $250 million and has helped improve collections by 15 percent.
AssetFit - Founded by Bhagawat Rawat, Anand Tapadia and Sai Raju Penmetcha in January 2019, AssetFit is a mobile-based maintenance management applications for hotels. It helps hotel maintenance teams track requests, eliminate paper checklists and automate PM schedules. Currently, it has 10 ongoing pilots with branded hotel chains in the US.
SensiWise - Founded by Puneet Jetli, Lokesh H and Sudhir Shankarappa in October 2017, SensiWise Solutions creates ready-to-deploy enterprise IoT solutions for specialised supply chains that value product integrity. Its solutions find wide applications in FMCG, pharma, life-sciences and FnB logistics. It is currently live with a leading FMCG company.
Dice Toy Labs - Founded by Phalgun Polepalli and Shwetha Badarinath in May 2018, DICE Toy Labs is India's first D2C (direct-to-consumer) brand of toys and games. It has built a product line with a unique modular model. Its first game Yudhbhoomi is currently open for orders. An online-first brand, DICE Toys has already built a loyal fan community of over 37,000 followers on social media. Its first MVP was sold out in less than two months and plans to launch two new products in the next few months.
Feedbayk - Founded by Krishna Patil and Sandip Patil in November 2017, Feedbayk is a mobile app to receive real-time reviews of products from verified product owners through one-to-one chat. It currently focusses on the car segment and has recorded 28,000 instances of real-time feedback through chat from verified car owners, growing 15 percent week-on-week. Over 40 percent of potential buyers purchase a car within a month of taking feedback on its app.
UnFound - Launched by Anushree Bishnoi and Ankur Pandey in March 2019, UnFound is an AI engine that combats misinformation. UnFound's first product is an AI-powered news platform geared towards readers and exam aspirants - which ensures authenticity, context and multiple perspectives for news that matter to its users. It currently has 30,000 downloads. UnFound previously collaborated with BBC, Google News to fight fake news during elections.
Wealthstatus Technologies Private Limited - More than $12 billion of unclaimed money is lying with different financial institutions. In India, Wealthstatus is building a claims management platform that makes it easy for consumers to track and claim what is due to them. Founded by Ashok Rawat, the startup has aggregated 30+ million unclaimed records and has so far helped 80,000+ searches of unclaimed money. Currently, it is in pilot with a few leading online brokerages.
AgroTribe - Founded by Jaspinder Singh in December 2018, it is a full-stack model that uses AI-based shelf predictor technology and intelligent warehousing to deliver predictable supply, consistent quality and reduced wastage for the HORECAs (hotels, restaurants and cafes) segment and cloud kitchens. AgroTribe provides 24 percent cost efficiency during procurements for a customer and currently has 40 live customers with 93 percent retention.
Book My Diamond - Launched in 2017 by Sankalp Goyal, Pinank Kamdar and Govind Chintapalli, Book My Diamond is a diamond trading platform for diamond manufacturers and jewellers to trade in diamonds. Over 400 jewellers use the platform for search, discovery and trading diamonds.
EasyCommute - Founded by Mayank Chawla and Aditi Goswami in January 2016, EasyCommute is an app-based affordable ride-sharing platform based out of Hyderabad. Having completed over 1.6 million rides till date, EasyCommute is clocking over 5000 rides a day with industry-leading metrics on engagement, pricing, route profitability, utilisation and per-ride metrics. It recently partnered with Hyderabad Metro to provide first and last mile connectivity.
inroadz - Founded by Abhishek Singhal in February 2018, inroadz is a B2B commerce platform connecting brands with retailers in the baby care and kids segment. At present, it is clocking a GMV of Rs 6.5 crore, growing 40 percent month on month, with more than 70 percent repeat customers in five major states. Live with over 500+ retailers in five states and over 120 International and Indian brands like Britax, Bumberry, Fevermates, Skillmatics, Shifu, Chicco and Mamaearth.
(Edited by Saheli Sen Gupta)