Five start-ups got seed funding of Rs.10 lakh each at an event to promote early stage enterprises organised by The Indus Entrepreneurs (TiE) Hyderabad chapter in the city on Saturday.
According to the organisers, from the 200 start-ups that had applied, 10 with a working prototype made it to the Startup Heroes instant seed funding event. At the programme, they made a five-minute pitch to 10 investors. The final five are: Enabli, a subscription-based service for B2C businesses like photographers, real-estate agents and wedding planners; Yo Grad, which is a community for students to network, learn, and discuss with students from different colleges; mobile app Play Your Sport, a marketplace for sports and fitness; Hostel Dunia that provides information about hostels; and CBS, which helps fetch data from different devices and sensors and provides smart solutions. The Rs.10 lakh funding was against 8 per cent equity. TiE Hyderabad president Safir Adeni said it was possibly for the first time that five start-ups had received funding at a single instant funding event. Earlier in the day, TiE organised ‘SmashUp’ for start-ups to help them learn the art of building successful ventures.
