NASSCOM Funds Two Hyderabad Based Startups

May 2014 was a good month for two startups. NASSCOM, in its plan to help entrepreneurs turn their ideas into successful products and businesses, has helped Violet Street and Zify raise a funding of Rs.10 Lakhs each.

The startups raised funds as part of NASSCOM’s on-the-spot funding event for prototype stage companies in Hyderabad. The angel investors would be getting 10% stake in both companies for the investment. Nine prototype stage tech startups participated in the event addressing their ideas over range of industries from media to finance. Each startup was given 5 minutes to present their ideas to a panel of eight angel investors and mentors.

The startups were selected on basis of concepts market opportunity, quality of the product and ability of the team to execute. The other startups that presented their ideas were Newsdeck120, Everchat that helps in creating location-based chat rooms, and Science Pandits which helps scientists to update their knowledge on various topics.

Violet Street – Social Shopping

Violet street, gives a whole new meaning to the term social shopping.  This e-commerce portal has come up with a concept of real time shopping with friends, which makes the process of getting suggestion and feedback from your friends easily. The portal also helps you to pick your favorite clothing and accessories and create a look of your choice. Violet street competes with other startups like Limeroad and voonik.com who have also raised their different level of fundings from other sources.
Visit the page, http://www.violetstreet.com/

Zify – Share your Ride

Zify is a mobile-cum-web application aimed at addressing the everyday problem of commuting through carpooling.  Zify connects you not just with the regular cab drivers but also with your neighbour or your office colleague who owns a car. The carpooling concept not only makes you to save your fuel and travel cost but also helps you to socialize with people.
Visit the page, http://zify.co/

The 10,000 Start-ups program helps startups bridge the gap, in terms of the support available to early stage companies especially when they are trying to go transform a technological prototype to a profitable, successful and sustainable business venture. Startup Hyderabad wishes good luck to both ventures.

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