Elevate Rikant Pitti
EaseMyTrip's Rikant Pitti says VC money may not be necessary for all startups to succeed. Image Credit: Virendra Saklani/Gulf News

More than 430 startups have showcased their business ideas at the Elevate sessions in Dubai. These 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 23 startups pitched directly to investors during the latest edition.

Funding from venture capitalists is not required for Indian startups to succeed, said Rikant Pitti, co-founder of EaseMyTrip, during the Elevate startup session on Wednesday.

Video by: Sonia Shah | Reporting: John Benny

EaseMyTrip, an Indian internet travel company, is currently valued at around $1.6 billion, months after its IPO in March 2021. “We could not get money from the VCs and we believe that VC money is not really what entrepreneurs need - It can solve the teething problems, but it probably would not be necessary for anyone to succeed,” said Pitti.

“We have never ever raised any capital and we have been profitable since inception,” said Pitti.

Here are some of the startups from the latest Elevate session:

Althion Tech Innovations: Althion develops and manufactures medical equipment and devices. Product development was done with funding from the Department of Biotechnology (BIRAC) and Ministry of IT and Electronics (TIDE). The company makes medical ultra-pure RO water plants for kidney dialysis centres, hospitals and home use.

IntPurple Technologies: IntPurple is a startup in digital health and artificial intelligence. The company offers software as a service (SaaS) solutions for remote care, continuum care, advanced ambulatory nursing care, and home care. The product – FelixaCare – is an artificial intelligence-based platform that enables hospitals and clinics to swiftly implement cloud-based remote patient care services and ready-to-use smartphone apps for patients and care providers.

Niramai: Niramai is a Bangalore-based, deep tech growth-stage healthcare startup which has developed a new AI-based test to detect early-stage breast cancer in women of all age groups, in a radiation-free, affordable and privacy-aware manner. Thermalytix is the company’s flagship product that delivers early detection of breast cancer using novel AI and machine learning software.

Nemocare Wellness: The company aims to end all preventable neonatal and maternal deaths in the developing world by building innovative affordable, accessible, and highly accurate monitoring solutions for the emerging markets. Nemocare uses unobtrusive wireless wearable sensors and networks, analytical algorithms and big data.

Omicsgen Lifesciences: This company has been owned and operated by women entrepreneurs since 2017, and works with a vision to exploit the untapped potential of genomics, proteomics and metabolomics.

Trachealth Technologies: Trachealth Technologies are geared up to democratise health care so that medical professionals can help diagnose and remotely monitor the maximum number of patients and expand their outreach to every village and beyond. The company develops smart, IOMT devices which detect physiological parameters without any physical contact.