India’s technology start-up ecosystem has received a much-needed morale booster in the last three months with internationally renowned technology visionaries and other high-profile figures putting money into several small companies.
Bangalore-based Gecko, a start-up that makes low-powered Bluetooth devices, received a surprising financial backer on Thursday. Apple co-founder Steve Wozniak, who started the maker of iPhones and iPods along with Steve Jobs, contributed to Gecko’s online fund-raising campaign.
“I contributed to this [Gecko]… useful as well as prankful,” Mr. Wozniak said.
Last month, Bangalore-based Pankaj Risbood, who started a smartphone sensor start-up along with Jonathan Matus, received its first round of funding from a group of investors that included Yahoo! co-founder Jerry Yang.
“We’ve been working on Zendrive for several months, and are excited to announce a $1.5 million seed round of funding with backers, including Jerry Yang,” the company, which is based in the U.S. and focussed on making driving easier, had said.
Two months ago, Bangalore-based ZoomCar India Pvt. Ltd. sent waves throughout the start-up scene after picking up a cool $30,000 investment from U.S economist Larry Summers.
India is widely being perceived as the next start-up battleground, especially with regard to mobile-focussed companies, with several Silicon Valley investors and start-up funds evincing interest in recent times. For instance, Silicon Valley-based start-up accelerator Tandem Capital recently set up an India-based fund backed by former Infosys director Mohandas Pai.