Pink City Jaipur Startup in Rajasthan have raised over Rs 200cr in 4 months after covid 19 lockdown, reflecting increasing investor appetite for rural and social impact themes. The startup culture in Rajasthan has been growing because of the state govt’s dedicated efforts and changes in policies. State has been the growing ground for startups like Razorpay, Dcoder and CarDekho.
According, The Department for Promotion of Industry and Internal Trade (DPIIT) conducted in 2019, State Startup Ranking, Rajasthan was among the top performing states in India.
If we look into some of the driving factors for startup ecosystem growth are said to be the state’s location on Delhi–Mumbai Industrial Corridor, Rajsthani culture, Jaipur’s mix-urban and semi-urban infrastructure, and the state government’s startup focus. The Pick City Jaipur has emerged as the flagbearer for Tech Startups in Rajasthan. Other emerging spots are Udaipur and Jodhpur.
In Rajasthan, jewellery retail, agritech, tourism, deeptech, cloud kitchen, mobility, SaaS and healthtech are some of the emerging sectors. In terms of funding, Jaipur startups have raised $110 Mn in funding which was the highest amount raised by any Tier 2 city in India for the year.
iStart Scheme for Tech Startups in Rajasthan
iStart Rajasthan is the flagship program by the Department of Information Technology & Communication, Government of Rajasthan to foster innovation, create jobs and facilitate investment in the State. iStart is an integrated comprehensive platform, which is a one-of-its-kind, single window resource for startups, investors, incubators, accelerators and mentors. The focus of this initiative is on idea stage, early stage and startups with MVP (Minimal Viable Product). This initiative helps the startups minimize the bureaucracy associated with the initiation of startup operations.
The below data represents present status of istart Rajasthan program success data which has been referred from https://istart.rajasthan.gov.in/. The data updated till 5th April 2021.
|Application Recived||Incubated Startups||Startup QRated||Funded Startups|
|QRated Startups : 676||iStart Nest Udaipur : 12||Gold startups: 44||Techno Fund Recipients: 14|
|Approved Startups: 1301||iStart Nest Kota : 13||Silver startups: 101||Marketing Allowance Recipients: 37|
|Received Applications: 2160||Techno Hub: 77||Bronze startups: 515||Sustenance Allowance & |
Seed Funding Recipients:58
Rajasthan State allocated Rs 106 crore Budget for FinTech City in 2021
Initiatives to accelerate growth of entrepreneurship, the Rajasthan Government recently announced plans to set up FinTech City, and proposed seed money up to Rs 25 lakh. According to CM, the state’s i-Start programme will continue giving all the benefits mentioned in the State Startup Policy. In his speech, the CM said Rajasthan has always contributed the highest number of Chartered Accountants (CAs) to the nation, and is a service delivery hub for multinational IT companies.
The project cost of the FinTech City proposed by RIICO (Rajasthan State Industrial Development and Investment Corporation) is Rs 106 crore, and it includes developing basic infrastructure like roads and parking, streetlights, water, electricity, parks, community facilities, public utility areas, and more.
The FinTech City for New Tech Startups in Rajasthan will be an integrated development of IT & Finance that will offer large workspaces for companies from both sectors. A land area of 4,08,590.85 sqm near the Dravyavati River has been allocated for the project, and it is also close to the International Airport in the city.
7 Pink City Tech Startups in Rajasthan Raised Over Rs 200cr
Rajasthan Venture Capital Fund(RVCF), which raised Rs 121 crore, has been active in the market making small investments of about $1 million, startups like DealShare and Fleeca India have raised funds from reputed investors outside the state.
DealShare, an e-commerce platform for middle and lower-income groups, tied up $21 million in Series C round of funding from a clutch of investors led by WestBridge Capital.
Sourjyendu Medda, co-founder of Jaipur-based DealShare says that the setting up of FinTech City is the need of the hour, especially after the pandemic, as it can effectively address one of the biggest pain points of the industry – infrastructure. “The move will not only encourage more players to look at Rajasthan as a destination but also boost the existing startup and technology ecosystem.
Fleeca India is a Jaipur-based tyre and fleet care startup, founded by Tikam Chand Jain, raised Rs 25 crore from tyre maker Bridgestone India. Tikam Chandra Jain, says these new measures can attract a lot of startups to Jaipur, as they are now assured of help and support in the initial years. Having fixed expenses for office space rental and infrastructure can be a huge burden in the initial years, but with government help, these need not be so burdensome anymore, he opines.
Freshokartz is a jaipur based agri-tech startup founded in 2016 by Rajendra Lora. Its main objective is to delivery fruit and vegetable directly to customers from farms and thus removes the need for middlemen between farmers and buyers. Also in April 2019, FreshoKartz raised seed funding from angel investors.
Kirana King is a Jaipur based local grocery shop aggregator founded by Anup Kumar in 2017 and raised venture capital of Rs 7Cr in 2020.
Kirana Store provides services to conventional kirana stores through its RaaS (Retail as a Service) software, which is a combination of store transformations, enhanced and convenient store layouts, supply chain and marketing to drive more footfalls, digital solutions, ecommerce stack, and training and development of the kirana ecosystem. The company claims to have associate with more than 300 small retail stores till now.
“We believe that this step towards empowering the native working professionals will reap benefits beyond the industry level. Its effect will be seen at the grassroot level too, such as the technological advancement of all entrepreneurial ventures who are in need of finance-related IT solutions,” says Anup.
MedCords is a kota based a telemedicine startup (rural pharmacies) which uses a network of local pharmacies to digitise villagers health records and introduce them to digital consultations. This company was founded by Shreyans Mehta, Nikhil Baheti, and Salda Dhanavath in 2016.
RVCF has funded MedCords with Rs 7Cr.
On Press, Shreyans Mehta, Co-founder and CEO of MedCords added ” the government has been supportive of startups, and despite Rajasthan being a hub of talent in the financial space, the real challenge is in recruiting good talent as people still hesitate to move away from metros.”
Krimanshi Feeds is a social agritech startup innovating in nutrisious animal feeds through recycled food waste. Nikhil Bora founded Krimanshi in 2015 with an aim to create affordable animal food business in India by sourcing locally available raw materials to manufacture low cost animal foods and make animals healthy.
Fabriclore is an artisan-driven online textile retailer startup founded by 3 friends In 2016. The aim was to make available Indian Crafts like Sarees, stole, accessories and many more reach at doorstep.
Top Rated Tech Startups in Rajasthan for 2021
Tharland, Rajasthan is emerging as new startup hubspot across sectors ranging from power and energy, travel, FinTech and agritech sectors which is focused on solving problems.
Gram Power is Jaipur-based company was founded by Yashraj Khaitan in 2012. The company has designed a low cost smart meter, power distribution management technology and a smart micro grid solution for energy access in remote areas.
Through its technology and ‘metering as a service’ business model, the company claims to have radically reduced power theft and electricity distribution losses in India.
Gram Power helps companies reduce their electricity consumption and power bill by monitoring power use through our smart meter and mobile application.
ToRoots is a Jaipur-based travel startup which was founded by Naveen Meena and Mohit Sharma in 2015.
ToRoots offers curated vacation packages in rural Rajasthan. The company has raised seed funding from the state government’s Bhamashah Techno Fund and other angel investors.
Wooden Street is a Jaipur-based online furniture marketplace, founded by Lokendra Ranawat, Dinesh Pratap Singh, Virendra Ranawat, Vikas Baheti in 2015.
This online furniture startup provides users to order custom products and even get 3D preview of it before buying from online store.
Ecowrap is Jaipur-based cleantech startup founded by Angraj Swami in 2017. The startup deals with end-to-end control over waste segregation, collection, tracking, recycling with the help of IoT and block chain.
Ecowrap also works as FMCG supply chain platform for Hotels, Restaurants, and Cafe (HORECA) sectors. They assist its clients with the right infrastructure and the training required for segregation at the water source.
CarDekho is a Girnar-owned online automobile store, operational since 2007. This company has built a complete ecosystem to enable its consumers to have easy and complete access to buying and selling cars, as well as information on cars.
CarDekho has raised a total capital $202 Mn in funding. Company existing investors include Hillhouse Capital, Tybourne Capital, Times Internet, and Sequoia Capital, among others.
Founded by Sagar Agrawal and Sahil Agrawal in 2015. HippoCabs is an intercity cab rental service. The objective to unveiling plus solving the crisp and heavy loopholes experienced during the Intercity travelling.
The core idea is to solve the complications faced by approximately every commuter.
Its presence is over more than 550 routes and 100 cities PAN India including Delhi, Gurgaon, Jaipur, Noida, Faridabad, Ajmer, Pushkar, Jodhpur, Udaipur and Chandigarh. It competes directly against the likes of Ola, Goibibo and other providers of intercity cab or outstation rentals.
Tax2win.in was launched to help individuals and businesses learn more about how they can save income tax during the filing process and makes it easier for customers to get their returns processed. The Jaipur based fintech startup was founded in February 2015 by Abhishek Soni, Vertika Kedia, and Shishant Todi.
The Udaipur-based company is a Hindi hyperlocal news and content startup, providing alerts, updates on happenings around the municipal towns. The company is currently present in and around Kanore, Bhinder, Salumber and Fateh-Nagar.
The Jaipur-based edtech startup was founded by Kapil Arya and O.P Godara in 2015. It is a hybrid education model using real and virtual teaching aids to impart 5D classroom experiential learning and online assessment platform with deep analytics for K-10 students, teachers and parents.
The Jaipur-based company was founded by Sanjit Sihag and Vinit Godara in 2016. MyTeam11 is a fantasy sports platforms offering over 150 contests in dual languages across multiple games including cricket, kabaddi, volleyball, basketball and football.
Founded by Sourav Lodha in 2014, KuberBox aims to establish itself as a genuine source to buy diamond jewelry in India in a personalised and customised fashion. The company also aims to create a network of self-motivated individuals and small businesses who can extend its products and services to their customers through the use of Kuberbox’s tablet app, under the KuberBox Privileged Partner programme.
The Jaipur-based company was founded by Nishant Patni and Pranshu Bhandari in 2012. Offering digital English language learning, the startup uses AI models to help those conversant in regional languages to pick up English. In 2015, the company has raised its $6.5 Mn Series A funding from Tiger Global along with the participation of Kae Capital and 500 Startups.
iStart Scheme for Tech Startups in Rajasthan is become a boost plan for seeding companies. They are solving problems with help of Technology in diversiffied sectors like agriculture, waste management, mobility, fashion and jewelry. The biggest challenge of Rajasthan’s startup ecosystem is the lack of talent pool, which has led to the migration of many growth stage tech startups such as Razorpay and Dcoder.