#StartupRoots was a smashing success. Apart from amazing content, we created a history by getting 4 startups funded on stage and live.
Close to 550+ people attended the event and out of 200 startups that applied for the #SharkTank pitch session, we selected 4. And all of these 4 startups got funded.
Here are the details of 4 startups (in the order of presentation):
Kolkata based Tookitaki is an Intelligent Ad Technology Platform which, overlays social and web data points to optimize social ad spent, in real time.
“Standalone Targeting is not effective any more. Interests conveyed in Social Media is not effective in predicting Intent on product engagement. Whereas Web behavioral targeting lacks rich social interest information. Through our patent pending overlaying technique, we combine social media interest data with web behavioral data to build targeted audience and optimize social campaigns through these connections in real time.”
Funding raised: Tookitaki raised INR 1 crore (two tranches) for 22.5% stake.
Investors: Anirudh Suri (Indian Internet Group), Ravi Gururaj and Ramesh Kumar Shah (Harvard Business School).
Terms: Tookitaki will have to move to Bangalore or Delhi (for scaling up the technology talent). 15% should be ESOP fund.
Bangalore based Lumos (launched at UnPluggd) has started sales of its Solar Backpack (a Backpack that can charge mobile phones and power USB-based fans/lights) on http://lumos.co.in. Lumos also is working on 2 other products: 1. Solar Venetian Blinds (providing limited inverter ability and 2. Solar T-shirt (works for charging or showing a display).
“Lumos products all work on capturing a part of the 500W of Solar power we are used to on a daily basis. Lumos believes this can be best done through Solar Apparel (integration of Solar energy into fabric).”
Funding Raised: INR 25 Lakhs for 10% equity. Rajan actually talked himself into the deal (he initially said NO) and believes that Lumos is better off with a B2B/gifting model, rather than B2C which the company is pursuing.
Investor: Rajan Anandan.
Terms: Lumos will have to scale up to revenue of INR 60L till they exhaust the money. If failing to do so, Rajan’s stake wil go up to 15%.
Mumbai based Moojic is a digital jukebox solution for restaurants, cafes, bars and gyms.
“We enable patrons sitting at moojic-enabled locations to choose the songs they want to listen to from their mobile phones. They can do this using our mobile apps (Free for users) or even using SMS. Beyond just requesting songs, customers can vote up/vote down songs, dedicate songs to their loved ones and so much more. In essence, we are helping businesses crowd-source the mood of their location.”
Funding raised: Interestingly, Moojic closed a small round of 25 Lakhs, two days before coming to #StartupRoots. The company raised INR 25 lakhs for 12.5%. Probably, the only deal that involved NO negotiation!
Investors: Ravi Gururaj, Rajan Anandan, Pankaj Jain and Ramesh Shah.
Credii‘s tools help businesses make smart software choices.
“Our web-based tools offer an easy way to sift through the large cache of software and services available in the market and select those that best match the needs and preferences of a business. It’s like having a consultant work for you, minus the expensive fees!”
Funding raised: Pankaj Jain of 500startups instantly offered Credii $50K for 5% equity – the standard 500startups accelerator agreement. The team needs to fly to US within a week’s time!!
Rajan Anandan : 2
Ravi Gururaj: 2
Ramesh Shah : 2
Pankaj Jain : 2
Anirudh Suri: 1
Venkat Raju : 0
Vijaya Kumar Ivaturi: 0
All these fundings are subjected to legal and financial due diligence (note: NOT market due-diligence).
When is the NextBigEvent?
Subscribe to receive updates from us regarding the NextBigEvents!
Pictures from #StartupRoots