Indian Startups Makes The List Of Asia's Fastest Fundraisers


BENGALURU: Four Indian startups namely ‘Grofers’, ‘myNoticePeriod’, ‘SilverPush’ and ‘News in Shorts’ have found themselves amongst the top 11 Asian ventures to have the fastest transition from seed funding to series A funding in recent times.

According to a CB Insights, These Asian startups surpassed their European peers to a series A with an average of 427 days in comparison to the European startups who took 465 days. The research firm had its data aimed at companies that rose their last turn of financing from 2014 onwards, reports The Times of India.

The study also looked into the fastest transition of startups from series A to B. making the list top 10 Asian ones are three Indian startups namely Culture Machine Media, Locon Solutions and TinyOwl.

Chairman of the Nasscom Product Council, Ravi Gururaj, states that Indian startups are showing early footing to rope investors. The reason for which is due to the considerable increase in mobile usage that has hit a critical mass of online users. This has led to the shift in mindset among consumers who are experimenting with the new services offered by startups.

"Investors are also more willing to pull the trigger earlier on account of competitive pressures,” said Gururaj. Angel investor and co-founder of software products think-tank Sharad Sharma, believes that the “god “in the venture capitalists of entrepreneurship is velocity.  "So you either succeed fast or fail fast," he said

Recruitment startup ‘myNoticePeriod’ had generated Rs 18 crore from IDG Ventures India in February, Within six months after the Bengaluru-based startup obtained Rs 2 crore in a seed round in September last year. Hyper-local delivery startup, Grofers generated $10 million in a round that was run by Tiger Global Management. Similarly, Sequoia Capital raised $500,000 in less than four months of a seed round. "Indian startups have grown and we are competing with Israel and Europe for VC funds," says Sharma.

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