4 rising startups in India – Feb 13, 2017

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It’s a day for breaking ground. A startup nabs the largest series A round of funding yet for an Indian AI healthcare company, while an IoT business brings in the largest series A round for an IoT startup in the country. A chatbot and an analytics firm round out our list of funded companies in India today.

See: AI and IoT are the flavor of the day – not IT services or ecommerce

SigTuple

Photo credit: Wikipedia.

Healthcare AI startup SigTuple can automate a pathologist’s job. Today, it secured the largest series A round of funding ever for an Indian healthcare AI startup – US$5.8 million. The investment, led by Accel Partners, will go toward scaling up the startup and helping it go global. IDG Ventures India, Pi Ventures, Axilor Ventures, and Endiya Partners also participated.

Uber senior VP Amit Singhal, VH Capital advised by WhatsApp’s Neeraj Arora, and Flipkart co-founders Sachin and Binny Bansal also contributed.

Founded by Rohit Kumar Pandey, Tathagato Rai Dastidar, and Apurv Anand, the startup has partnered with hospitals and labs to feed information to its AI. It is also running pilot programs in 17 medical institutions.

See: An artificially intelligent pathologist bags India’s biggest funding in healthcare AI

Flutura

Bangalore-based IoT startup Flutura has raked in US$7.5 million in series A funding. Vertext Ventures led the round with participation from US-based Lumis Partners and existing seed investors The Hive and BV Jagdeesh from Silicon Valley.

The round marks the largest series A round for an Indian IoT startup, which uses sensor data to monitor machines online. If there’s a problem with an oil rig part, for example, Flutura sensors can alert workers, saving time and resources from detecting the problem later – or waiting until the machine breaks down.

Founded by Krishnan Raman, Srikanth Muralidhara, and Derick Jose, Flutura has clients in the US, Europe, and Japan.

See: Behind India’s largest series A round in IoT: how Flutura chose its investors

Connaizen

Data analytics startup Connaizen has raised an undisclosed amount of funding from its former Asia Pacific operations and technology head at Citigroup. Vikram has mentored the company since May last year.

Founded in 2015 by Nikhil Garg, Vikas Bharti, Sanchit Kapoor, and Siddhant Punn, the company analyzes bank transactions to feed information to companies about their customers. Connaizen has bases in Singapore and New Delhi.

The company will soon go live with four private banks. It’s working with 30 online and offline partners in India, including Swiggy, Starbucks, and Jet Airways.

See: GE partners with Indonesian big data startup to make unforeseen blackouts history

NearGroup

Mobile app NearGroup has been selected for Facebook’s FBStart program. The speed dating app helps people anonymously chat with four people at a time in their area – and only reveal their identities to the people that they like.

FBStart participants receive up to US$40,000 in services and credits from partners including Amazon, Dropbox, FB Login, and App Analytics.

NearGroup was founded last year by Prashant Pitti, who also founded travel portal EaseMyTrip.

See: Facebook gets busier in India, inducts fashion startup into FbStart

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