New Delhi based Startup Tunnel (STun) is an early stage incubator that provides customized mentorship to startups and helps them with product definition, market validation, product launch, customer engagement, and early stage funding. Startup Tunnel built its first batch of startups between December 2014 and February 2015, and launched them in April 2015. Now, the incubator is all set to build its second batch, with a focus on data analytics, growth hacking and attacking large difficult problems that no one has yet managed to solve.
In April 2015, five startups graduated with STun’s credentialed seal of approval. And finally, four of them went on to angel and seed-round of funding, closing term sheets at valuations between $1-4 million.
The four startups were Jobspire, Amicus, Coll Poll and Truelancer. Here is a brief explanation about all of them:
Launched in September 2014 by Co-Founders Dipesh Garg & Rajshekhar, New Delhi-based Truelancer is an on demand curated freelance marketplace. The startup helps employers hire skilled freelance professionals. It operates globally, but presently it is focussing on South East Asia and has a strong presence in India, Philippines, Bangladesh, USA, UK, Pakistan, and Indonesia.
Truelancer takes care of the entire process of hiring a freelancer, one can either post a project or buy pre-listed service Gigs (eCommerce for digital services). Anyone can hire Developers, Designers, Content Writers, App Developers, Virtual Assistant or any professional. It also provides safety for employers & freelancer by providing Safe Deposit payment like an Escrow System.
The startup currently has more than 150,000 freelancers with 5000+ curated service Gigs (eCommerce for services). The firm claims to have 300,000+ monthly unique visitors. It directly competes with Upwork.com and Freelancer.com, and aims to get 30 million freelance skilled professionals in next 3 years.
The company had closed an angel funding which included angel investors from India & US and currently is looking to raise another $1 million to fuel its growth and expand its tech team and community presence in India, Philippines, Bangladesh, USA and Indonesia. The firm will be launching its mobile app & enterprise solution in coming months.
Founded in April 2014 by Aayush Srivastava (CEO), Nikhil Parmar (CDS), and Nishchal Dua (CPO), New Delhi-based Amicus is a predictive analytics start-up which provides information to consumers about product quality & after-sale-service at the time of making the purchase. It recommends better products and sellers, based on the RealCost of the purchase by taking into account 40+ factors including rate of product failure, cost of spare-parts, no. of service centers and the average time taken to resolve a complaint related to the product.
Amicus is a data-company which relies on giving users a personalized shopping experience based on their shopping patterns and behavior. It makes money per transaction as an affiliate. Alternate sources of revenue include lead generation for product warranty insurance providers and product repair/buyback marketplaces.
The startup is raising Rs.2 crore at a Rs.15 crore valuation. The money will primarily be used to build the data science team of risk modelers and NLP experts, as well as expanding to different verticals such as insurance, real estate, travel and housing.
Started in August 2014 by Varun Mayya, Kartik Luke, Sandesh Kini and Mohak Dhingra, Bengaluru-based Jobspire is a recruitment platform which helps in matching the right candidate with the right company with its differentiating feature ‘manual and algorithmic curation’.
The startup ascertains that deserving candidates get offers only from premium companies instead of random ones. It has also introduced an audio verification system that helps candidates bypass their first round of interviews online. The company is currently working with 91 startups, producing 18 interviews a week and getting 1000+ daily users engaging with the site.
Earlier this month, the firm had raised $262,000 seed funding round led by Purvi Capital, Nikunj Jain and others. Ravi Srivastava of Purvi Capital had led the round with participation from other investors including Willfly Ventures, Krishna Jha (Telnet Ventures), Sanjay Bakshi (Impulse Marketing), Kapil Nayyar (International Business Advisors) and Artieca Trust. It is looking forward to a Series A round within the next year.
The startup plans to use these funds to scale the team and focus on building an entirely new concept, the Human Metadata Index graph that they will use to standardize ratings on every applicant on Jobspire, as well as build their referral only premium recruiting tool, Premium Select, currently available in beta stage.
Founded in August 2013 by Hemant Sahal, Siddharth Das, and Sanjeev Gupta, Bengaluru-based CollPoll is a real-time communication and collaboration platform for educational institutes. It empowers its members to share & access information, receive feedback, organise their daily schedule and make better, informed decisions.
It complements existing systems like ERP (enterprise resource planning) & LMS (learning management system) to allow students communicate and collaborate in simple and effective ways. The startup had raised Rs.50 lakh in seed funding from investors which includes Aditya Dev Sood (Founder of CKS Consulting), Sumant Sahal (Software Professional at SIX Group), Moloy Banerjee (Serial Entrepreneur and Former Professor – IIM Bangalore) and Sunil Madhani (VP, Mobile – Fidelity Investments).