The Eastern suburb of Mumbai-Powai has seen the outburst of start-ups in recent times. According to Times of India report, it has more than 50 start-ups that opened up recently. Not just they are setting their roots here but also getting the desired success in a short period of time. The area is fast becoming a start-up hub is being termed as the silicon valley of Mumbai and there are several reasons for it. The dream city Mumbai is the most preferred over cities for B schools professionals and IITians. After Bangalore, the city offers wide range of employment opportunity for employees but also huge opportunities for employers.
According to a Report in Inc42, Mumbai was placed 3rd behind Bengaluru and Delhi for the Indian tech startups. Around $400 Mn funding was made through 69 deals in Q1 2018 with some having ticket size of more than $20 Mn. Mumbai cornered 14.59% of the Amount invested and and 16.84% of deal closures belonged to Mumbai Startups.
The air is full of energy as well as opportunities to kick-start the start-ups. Powai is famous for its cafes and restaurants. They are not just a source of relaxation and enjoyment, but have also become a good place for networking and is a virtual start-up hotspots. Powai entrepreneurs have evolved this culture of discussion over coffees for turning their start-up idea into reality. You will always find people sitting with their phone and laptops on the coffee table ready to discuss their game plan and next big idea they are bringing to life.
There are lot of good things going for Powai for becoming a major startup hotspot area. It offers some of the best infrastructure, facilities at affordable rental price or co-sharing spaces. Powai start-ups have been churning out products or offering cutting edge technology services. Start-ups find it convenient to arrange for low rental fees rather than going for expensive offices in other parts of the cities. The IITians and B-schools and other engineering colleges are close by and IIT itself has a great startup culture. These graduating students get hired in these start-ups and even they find it lucrative to start their career around Powai. The accumulated talent across the country is establishing their roots in Powai. They are next-generation high-tech professionals with risk-taking ability. Women workforce find it safer and better to work in and around Powai. It is more centrally located across the two major train services lines running across the city and with new major metro connections and other public transportation availability.
With growing information and technology sector, the technology and mobile related companies are booming in Powai. There are several start-ups which have brilliant ideas to change the future of the country. Let’s look at the top ten start-ups from Powai, that started or working day and night to bringing innovative solutions that you are seeing today or will see in near future.
India’s largest taxi-hailing company started by two IIT Mumbai graduates was started in Powai, Mumbai as an online cab provider. Bhavish Aggarwal, co-founder of Ola, said in Times of India that Powai ecosystem has improved in recent times. Along with co founder Ankit Bhati, Ola was launched in December 2010 as Ola Cabs. Efficiently bridging the gap between cab owners and commuters using technology to ease up the harrowing taxi commuting experiences and making hailing cabs anywhere anytime an easy option. Ola Cabs is over 3 billion dollar company now, serving over 6 million rides per month. Having raised over 350 Million Dollars in funding already and in talks to raise 1 Billion $ in fresh funding, this cab hailing company has come a long way and has made a permanent space in our phones providing one of the best taxi traveling options.
Founded with the objective to offer cutting edge technology solutions that Revolutionize Everyday Work, Vikas Shetty the CEO and founder of Revolux Solutions combined his 28 years of experience and technological talent to form this Start-Up. The company has been recognized as one of the promising App Development Firms of 2018. Revolux’s expansive portfolio of offerings includes Mobile Application and Web Application Development, Offshore Product Development, Project Management Services, SEO, SEM, Digital Marketing Services, Blockchain and IoT Development, AI Bot capabilities, Best Practices and Innovation Management Consulting and eCommerce services. Spearheading the need to modernize hugely unorganized small retail store business operations, Revolux solutions has developed and successfully launched LocalGroc a modern hyper-local retail platform in Powai. LocalGroc enables small unorganized retail businesses to launch their stores online in a matter of minutes and completely manage their online ecommerce business operations offer cutting edge eCommerce Services, Digital Payments, Offers, Delivery Management, Customer Credits and other exciting features apart of best in class last mile speedy delivery to further enhance their exemplary customer service relationship to their next generation of modern customers.
It is the Real-Estate search portal based out in Powai under the guidance of their CEO Rahul Yadav. At the very small age of 26, his company value is 250 million dollar. The IIT Alum set up his idea in a hostel room along with ten other people and established the company in Powai. The idea was to provide an online housing search portal based on requirement. It helps in setting filters and searching the house in various cities. Unbelievably, the company has been expanded to serve 40 cities and with 6,000 brokers.
The company was set up by CEO Aseem Khare in 2014. According to Economic Times, the company served more than 1.5 lakhs order in two years of its start-up. It provides the 24-hour service of providing Electricians, Carpenters and Plumbers. It has shut down its operation for the time being but hopefully, they will come back with some great plan.
The company started its mission to change the market of used Automobile. Nikhil Jain started his company with a vision to simplify the process of buying and selling of used vehicles. The company of 200 employees is trying to make CredR the most trusted brand for this purpose.
The food tech start-up was an idea of Saurabh Saxena (CEO of Holachef). It is the app where happy foodies meet their best-flavored food. The app can provide the food delivered anytime at any place on order or Pre-order.
The education-technology company was established in Mumbai by Aditya Gandhi. In the TOI article, Aditya Gandhi mentioned that Powai has provided the access of all services that start-ups need and the Powai ecosystem is the reason that worked for them well.
Zishaan Hayath started the foundation with a vision to personalize education for each and every child. In 2013, they formed a platform for preparation of various competitive entrance and board exams. The company has expanded in recent time.
Saurabh Goyal came up with an android app for ordering food online. Despite having some mistakes during the journey of start-up, it raised a huge amount of funds. The company has been closed in the recent time.
Vineeta Singh, the CEO of the company came up with the website for women’s makeup and skincare products. It caters to various beauty needs of women and doing pretty well. It is even expanded to provide articles for males.
Powai has seen its share of successful start-ups and failures, but more and more startups are setting up base operations in Powai Valley turning new innovative ideas into reality. As with the famous Mumbai spirit, Powai, the western silicon valley of India, will continue to retain its crown in Mumbai and grow in the coming years, become a hot destination for more and more start-ups in Mumbai and the country.