3 early stage start-ups get seed funding at TiE event

K V Kurmanath Hyderabad | Updated on January 23, 2018

The number of start-ups that got funded at the TiE’s Start-up SmashUp held on Saturday may be lower than last year. But the buzz and enthusiasm remain the same as three out of the eight finalists that pitched for investments walked away with Rs 15 lakh each at the event.

Carving Notions Technologies, SunwizTech India and Driverr were the three fledgling firms that clinched the seed fund from the pool of investors that the TheIndusEntpreneurs gathered for the event.

“Typically we give them ‘5 minutes’ to pitch to investors for a funding of Rs 15 Lakhs for tech and non-tech start-ups for 10 per cent equity. As many as seven out of the 10 start-ups that pitched at the last edition got funding. This time only three out of the eight finalists could make it,” Ramesh Loganathan, President of Hyderabad Software Exporters Association (HYSEA), told Business Line after the event.

About 300 start-up founders, investors and other stakeholders attended the daylong event.

While Carving Notions Technologies is into designing, constructing, assembling and selling drones, SunwizTech targets to address the pain points in maintaining a vehicle. It finds relevant service points based on a mobile app.

The third start-up, Driverr, is addressing the problem of finding the right driver. It is building a database of drivers to supply to those who want drivers to take them on a short or long trip.

Published on August 08, 2015

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