3 startups win Rs.15 lakh at the TIE Smashup

With the kind of innovation happening Hyderabad, we may soon be touted as the silicon valley of India. The city continues to grow as a major tech hub in India and VCs are actively investing in startups in Hyderabad. No wonder every competition witnesses quite a few finalists from Hyderabad .

The Indus Entrepreneurs network organised their flagship event, TIE Smashup at Taj Deccan on the 8th of August, the fifth in the series. The event saw some serious action with investors making instant decisions whether to fund a startup or not. A startup needs to get a green from at least three investors to win the Rs.15 lakh seed fund against 10% equity. Among the 250+ applications received 9 startups were invited to pitch at the smashup; Carving Notions, SunwizTech and Driverr  .

Carving Notions, founded by Srinivas Maryala, is a drone design and assembly company. Their aim is to design, construct, assemble and sell drones, drone spares and different types of multirotors. Their clientele includes Reliance, Himalaya Drugs, Phaarmasia, Minda Auto, Radio City, Sahara and Intellectech.

The second company that got funded, SunwizTech works at making car ownership a hassle free experience. They provide a location based mobile app that will enable acre owners to find the best service centres based on user reviews and ratings. The app will also help car owners find the best deals and packages on services and other problems. The icing on the cake is that they will also maintain the history of services and spendings for you to keep track of.

Driverr, founded by Shivalik Sen, is a location based app to find drivers.

The TIE Smashup event is not just a platform to compete and win a seed fund, but also a great platform for early stage startups to interact and network with several successful entrepreneurs and angels. Many serial investors representing funds like 50K Ventures, Parampara Capital, Sri Capital, Hyderabad Angels, Naya Ventures are all part of the event.

Comments

comments