Dubai: India’s startups are eager to secure funds from UAE-based investors as they continued to make their pitch at Thursday’s ‘Elevate’ session in Dubai. The latest edition of the initiative even featured an Emirati-run startup called Nutrio.
The Elevate sessions were started as a platform to showcase 500 startups from India at the innovation hub outside the Indian Pavilion at Expo 2020 Dubai. “Around 194 startups have already presented at the innovation hub and we’ll be crossing 104 pitches as well,” said a spokesperson for the India pavilion at the event.
India has emerged as the world’s third-largest startup ecosystem and has seen a series of high-profile IPOs (initial public offerings) that have defied the economic gloom of the pandemic.
Last year, Indian startups raised a total of $42 billion, up from $11.5 billion in 2020, said Orios Venture Partners in a recent report. “Indian unicorns are flourishing in this fast-paced and dynamic economy. These startups are not only developing innovative solutions and technologies but are generating large-scale employment,” said Orios.
“Today, one out of 13 unicorns globally was born in India,” the report added.
‘Unicorn’ is a term used in the venture capital industry to describe a privately held startup company with a value of over $1 billion.
Some startups from Thursday’s event:
1) Sano CRM: Healthcare organisations are focused on improving patients’ health and optimising their internal processes. At the same time, they still rely on legacy systems, which hinders innovation. This approach proves inefficient as today’s patients are looking for easy access to healthcare and personalised treatment. Sano’s platform aims to solve this problem by providing an all-in-one customer relationship management system specifically designed for healthcare organisations to modernise the patient experience and help healthcare providers accelerate their digital transformation journeys.
2) Nutrio: Nutrio is a mobile application that helps people with chronic diseases, allergies or any specific food or dietary preferences to choose food products that fit their health needs by analysing food products through specific nutritional algorithms that examine ingredients and nutritional information and reports back to the users whether a certain product is suitable for them. The application also provides the user with many helpful features such as food recommendation and shopping assistance in a personalised fashion according to their history and preferences.
3) NotOnMap: NotOnMap has created a unique platform which can become an aggregated sales and marketing channel for all travel-related social change programmes, cutting across caste, creed and communities.
4) Amna Capital: It is a corporate debt advisory services firm, which helps companies avail various trade finance facilities, business loans, capex loans, overdraft facilities and many other services from local banks, foreign banks, fund houses, trade finance funds, and NBFCs.
5) Covermatch: Covermatch is an insurance technology company founded with the objective of making insurance simple for SMEs and individuals across the market. The company has also developed solutions that allow users to compare and buy different kinds of insurance.