TLabs, the startup incubator from Times Internet Ltd (TIL), has announced the names of the eight startups which have made it to its eighth batch. The startups include a local classifieds portal, healthcare solutions firms, a university search platform, a fashion marketplace, transport and logistics platforms.
With this latest batch, Tlabs’ portfolio now boasts of 50 companies.
TIL is a subsidiary of Bennett, Coleman and Company Ltd (BCCL), which runs dailies The Times of India, The Economic Times besides other media properties.
“Most of the companies that make it through our initial screening process have good traction to support their applications. Due to this, we are also receiving some very high potential startups for a seed stage round,” said Abhishek Gupta, head of TLabs.
Since its last batch, TLabs has invested Rs30 lakh in a incubatee under its accelerator model and more than that for some startups in its seed or pre-series A rounds.
Here is a quick look at the eight startups in the ‘Fall 2015’ batch:
GetMyUni: It helps students select the right college by sifting through information about universities, data insights and student reviews. It aslo helps students find internships, projects, scholarships and their first jobs.
Cirtru: A San Francisco-based company, it runs a local classifieds portal where users are verified on the basis of their employer or university. The idea behind the startup is that while looking for a roommate or buying a secondhand car, a Google employee always trusts an Apple employee more than a complete stranger on Craigslist.
HopOn: It is a SaaS based intelligent platform that helps companies connect with transport administrators, employees and vehicle service providers. It also helps companies to achieve automation of employee transport management, transparency in billing/ invoicing and optimisation of transport resources.
Prokure: It is a mobile platform that helps unorganised retailers procure their stock.
Spoyl: It is a fashion marketplace where users can check out the closets of independent fashion makers and local boutiques across India, and buy their exclusive designs.
Pyck: It is a technology-driven first mile logistics service that picks up packages, packs it and sends it using the most reliable cost-effective option available.
Medaino: It makes an IoT wearable device that measures key body vitals in a non-invasive manner. Currently, the startup is in stealth mode.
SuperDoc: It is a mobile app that allows customers to consult doctors on chat. The startup claims that the doctors on the platform reply to patient’s questions within 30 minutes.
The Indian startup ecosystem is being propelled by a 123 per cent rise in the country’s active investor count, IT industry body NASSCOM and Zinnov Consulting said in a recent report. The number of accelerators/incubators in India grew by 40 per cent to 110 this year as compared to 2014.
On the other hand, the country’s angel investor count grew by over 150 per cent to 292 from 115 last year, the study found. India is also the world’s third-largest startup hub where three-four new firms are born every day.
India currently trails the US (47,000-48,000 startups) and the UK (4,500-5,000 startups) in terms of overall startup count.
TIL this month invested $15 million (Rs 100 crore) to acquire a majority stake in Taskbucks, a mobile-only marketplace that rewards users for completing micro tasks.
Tlabs had picked up seven startups for its April 2015 accelerator batch.