India’s hottest tech products
BANGALORE, Aug 16, 2013 (Menafn – Mint – McClatchy-Tribune Information Services around COMTEX) –Where are all a program product companies?
Through a 1990s and a 2000s, that was a consistent refrain of critics of a Indian record business.
Back then, it was formidable to find product companies (though some did exist).
Part of a problem arose from a mindset of a people looking for program product companies — they were looking for Microsofts and SAPs.
Part of it also arose from a deficiency of a compulsory start-up ecosystem for product companies in India — a entrepreneurship enlightenment on campuses, angel investors, try collateral firms peaceful to demeanour during product companies, and a marketplace itself.
And partial also arose from a perfect success of Indian IT services companies that captivated a best and a brightest.
By a spin of a decade, though, things had changed. Indian IT services firms were stranded in a rut (although some given seem to have figured out how to get out of it). Several campuses had their possess entrepreneurship cells and tyro start-ups were apropos increasingly common. The domestic marketplace had grown and evolved. And a presentation of platforms such as a cloud and models such as Software as a Service (popularly shortened as SaaS) had acted as good levelers. In MintAsia’s first-ever practice to brand program product start-ups, we have managed to 0 in on some comparatively opposite gems, nonetheless some of a names will be informed to people in record and investing circles. The list was put together on a basement of discussions with try capitalists and angel investors, as good as firms that lane a Indian start-up story, and afterwards finally vetted by on-ground reporting.
It is a faith during MintAsia that some of these companies will grow and grasp larger things, even as we know that some could tumble by a wayside or be acquired (although a final too would be counted as a success). Still, this inventory isn’t a normal placement of start-ups. It is a biased sampling of companies from a aloft asymptote of a normal distribution. These aren’t your normal companies — they are India’s hottest product start-ups:
Engaging business intelligently
Started by 3 Indian Institute of Technology-Kharagpur friends — Aneesh Reddy, Krishna Mehra, and Ajay Modani — in 2008, a few years after they graduated, Capillary, that has tweaked a concentration incrementally over a years has stayed loyal to a core: regulating mobile record to assistance retailers correlate with (and manage) customers.
In late 2008, they shaped Capillary Technologies with an initial seed investment of around 3,500 from a incubator during IIT-Kharagpur. After 6 months, a contingent knew accurately what a product had to be — InTouch.
InTouch helps accumulate information from all business regulating brief forms and decides when a patron can be contacted, and with what kind of information (such as offers, say) — all this formed on a intelligent predictive investigate of a information gathered. The information itself resides on a cloud, and a communication is built around a brief messaging use (SMS).
“Intouch is an intelligent patron rendezvous resolution with a end-to-end proceed and linkages to social, mobile and clientelling formed lifecycle government tools. It helps broach discernible sales expansion and a transparent lapse of investment,” says Reddy.
As they worked with some-more retailers, generally in India and other rising markets, they accepted their clients and their clients’ business better. The outcome was a finish patron attribute government (CRM) product, full with analytics and a ability to correlate with business by smartphone apps.
The marketplace for patron government solutions in many grown markets is opposition and swarming with companies such as SAP, Oracle and Mobiquest. Globally, a marketplace for such program is estimated to be value around 500 million and flourishing during 20%, according to a company’s investigate experts. Capillary’s low-cost cloud-based charity seemed to strike a chord even in grown markets and today, a serves over 10,000 stores in 16 countries. Its clients embody Marks and Spencer, Puma, and Nokia, any of that paid 50,000 for a product annually.
“In a subsequent few years, we wish to enhance globally and get a aloft marketplace share in markets like a US, a UK, APAC (Asia-Pacific) and build some-more products for omni-channel rendezvous and higher formation with amicable and mobile to broach a improved patron experience,” says Reddy.
“Capillary represents a subsequent era of product creation out of India, with difficulty defining B2C CRM program delivered to clients around a universe with an easy to exercise package that shows ROI in weeks post deployment. The clever organisation and transparent product marketplace fit led to Sequoia Capital’s partnership with Capillary,” says Shailendra Singh, handling director, Sequoia Capital.
MINTASIA’s TAKE: A inner resolution that adds to client-insight and helps a association go
global with a product — that’s an considerable progression.
Imagine losing all a information on your smartphone or tablet.
That’s a fear that drives a expansion of products such as Druva’s InSync.
That, and a flourishing trend that is shortened as BYOD, where companies inspire employees to move their possess inclination (BYOD stands for move your possess device) and offshoot this adult to corporate networks.
Products such as InSync work in a comparatively nascent shred of a confidence market, called endpoint confidence (it is called endpoint since devices, including computers and tablets and smartphones are customarily during a endpoints of networks). The marketplace for endpoint confidence is estimated during 10 billion and is flourishing during a yearly gait of 8.3%. And Druva’s offerings foe with a offerings from other start-ups such as Copiun Inc. and also record giants such as Hewlett-Packard Co. (HP), EMC Corp., and International Business Machines Corp. (IBM).
Founded in New Delhi in 2008 by Jaspreet Singh, a immature connoisseur from a Indian Institute of Technology, Guwahati, Milind Borate, and Ramani Kotandaraman, Druva changed to Mountain View, California (where it set adult a second headquarter) in 2011.
Soon after, it launched a initial charity InSync, built around an algorithm law by Druva that encrypts a bulk information on these endpoints, and stores them possibly on a horde storage complement or on a cloud. The two-factor encryption algorithm uses a doubly secure method, where one partial of a decryption pivotal resides with a organisation and a other with Druva. That gives InSync an edge; a Gartner news antiquated 9 Oct 2012 rated InSync a best among 12 products from rivals (including IBM, HP, and EMC). Druva protects a information of 2,000 clients and 1.8 million devices. Some of Druva’s biggest business are US space organisation NASA, Nikon Corp., Compagnie de Saint-Gobain and ICICI Prudential Life Insurance Co. Ltd. “With a right set of people, plain prophesy and good subsidy from investors, we are realizing a prophesy of building a billion dollar business to solve core hurdles around craving mobility,” pronounced Singh.
“Today’s enterprises need user-centric solutions that are tailored for a mobile workforce, and are as easy to muster and use as new age consumer technologies, though compromising craving governance. Druva is an glorious instance of tellurian craving product firms imagining out of India,” pronounced Jishnu Bhattacharjee, partner, Nexus Venture Partners.
MINTASIA’s TAKE: We like algorithms, and this one indeed seems to do something.
In July, Bangalore-based Eka Software Solutions, a association that offers trade and risk government program to commodity and appetite traders, paid around 20 million to buy Australia’s Matrix Group. The bargain gave it entrance to clients such as Rio Tinto and a footprint in a nation dominated by vast commodity companies. It also came only a few months after Eka acquired Canada’s EnCompass Technologies for an undisclosed amount.
Both acquisitions are vicious to Eka’s end of being a tellurian program product organisation — nonetheless it depends a Tata organisation and a Aditya Birla organisation among a inner clientele, it wants to concentration on general clients, too, for a program suites that cost between 500,000 and 15 million, depending on a complexity of a supply sequence involved. Eka stays secretly hold and didn’t divulge income or distinction numbers.
The businesses Eka operates in — termed appetite trade risk government and commodity trade risk government (or CTRM and ETRM) — are estimated to be value around 4 billion, according to Eka’s inner research, and are flourishing during 11% a year. It’s a business that is dominated by firms such as OpenLink Financial, Triple Point, and SunGard Energy and Commodities. It’s an enigmatic business for an Indian association to be in, and founder-chief executive officer Manav Garg’s credentials substantially has something to do with that.
Garg, 39, graduated from New Delhi’s Indian Institute of Foreign Trade in 1998 and worked in a coffee trade business for dual years. It didn’t take him prolonged to comprehend Indian traders didn’t have possibly a supply sequence or a risk government systems that their unfamiliar counterparts did. “We are looking to be 400 people in a subsequent 12 months. We recently non-stop an bureau in Singapore creation a participation deeper in Asia,” pronounced Garg.
Today, Eka has 32 clients, 340 employees, and operations in 6 countries.
“Manav is a 6 sigma businessman who is building a association that had a intensity to be a tellurian marketplace personality during a time of a investment. Being a former coffee trader, he has a unequivocally low bargain of patron needs and his product direction, environment and altogether sales and technical care have led to many vital business going live on a solution,” pronounced Sandeep Singhal, co-founder and handling director, Nexus Venture Partners.
MINTASIA’s TAKE: Eka might be handling in a niche, though it is a good place to be in.
Happy employees, happier customers
At a core of FreshDesk’s patron support program — that it sells as a use during between 16 and 40 a month for any patron use representative — is a elementary premise: happy patron support executives make for happy customers.
That’s easier pronounced than done. Customer support is one of those repetitive, mind-numbing tasks, despite one that is vicious to a company’s success, generally in a age of amicable media when an unfortunate patron can amplify his or her angst on Twitter or Facebook.
FreshDesk does this by literally creation patron support a game, though a excitement suggested by that matter masks a earnest with that a Chennai-based start-up approaches patron service, and a sound business proof that helped it concentration a efforts on tiny and middle enterprises (although vast firms such as Pearson Plc, ClearChannel Communication Inc, Toshiba Corp. and The Atlantic are all customers, too).
The business concentration came first, when Girish Mathrubootham, afterwards an executive during Chennai-based Zoho Corp., a Chennai-based IT government program start-up, saw, in 2010, a news object about a patron support program organisation that had increasing a cost of a charity 300%. The tip salsa (the one involving happy patron support executives) came as Mathrubootham and Shanmugam Krishnaswamy, also an executive during Zoho then, conceptualized a business. The tip esteem during a Microsoft Corp. foe for start-ups, all of 40,000, served as a seed capital, and a business was born.
Like several other offerings in a space, FreshDesk can assistance firms conduct business opposite email, phone, even amicable media. But it can also assistance them build communities out of such business (which fewer opposition program do) and it can mangle a routine of patron support (which even fewer can do) by arising badges, trophies and awards to patron use executives (or agents) formed on their interactions with customers.
For instance, an representative who answers a patron query correctly, and in a fastest time, might win a SpeedRacer trophy. Globally, a marketplace for patron support program is estimated during 18 billion, 37% of that is for support and after sales software, and is flourishing during 12.5%.
Over 3 years, FreshDesk has built a bottom of around 7,000 business and has 120 employees. It stays secretly hold and didn’t divulge financial details.
“We wish to yield all a business needs to make clients tumble in adore with them,” pronounced Mathrubootham.
“We invested since it had a good initial team, an glorious suspicion in patron government and support, and a large tellurian market. Girish and Shan were starting with a clever success building a scale business for tellurian markets already,” pronounced Shekhar Kirani, partner, Accel India.
MINTASIA’s TAKE: There’s something unequivocally appealing about a association that tries to make fetch work fun.
The visible illustration of information — and a some-more visible a improved — is not a new trend, nonetheless it has unequivocally taken off in a past few years, partly as people try to make clarity of information they now have on their hands, interjection to advances in computing and information mining and analytics, and partly as people try to make their websites some-more interesting. FusionCharts operates in this market, offered a product that costs, depending on either it is a single-user program or a server-based application, between 199 and 50,000. The organisation is secretly hold and doesn’t divulge a financials.
In late 2002, during a initial 7 days of a launch, they charged 15 per user — many of that went to transaction estimate fees. The association incurred waste compartment Nadhani and Sanket Nadhani, co-founder and selling conduct of FusionCharts, satisfied how to profitably collect income online. In 2008, Pallav Nadhani returned from a University of Edinburgh with a Master’s grade in mechanism scholarship and hired some-more program developers meddlesome in a firm.
FusionCharts charts come in opposite colours, shapes and sizes, and can be embedded into any application. They can also be used to build 3D charts and swell bars that boldly change.
MINTASIA’s TAKE: FusionCharts could turn a sleeper success or a choice acquisition
target. Either way, it works.
Analytics as infrastructure
Making clarity of data, or information analytics, is large business. According to marketplace researcher Gartner Inc., a marketplace is value around 13.8 billion a year and is flourishing during 7%. It is a swarming market, with firms such as International Business Machines Corp. and MicroStrategy Inc. handling in it, though few Indian start-ups have managed to register their presence. One such is Manthan Systems. “What creates us singular is a approach in that we move a powers of statistical sciences, and enabling technologies to assistance customers, users make smarter decisions, of course, though also to optimize and/or automate underlying business process, and unearth patterns and associations, that differently are opposite discerning or sojourn subterranean,” says Atul Jalan, a company’s owner and CEO.
Jalan is a sequence entrepreneur. He founded 3 record firms before Manthan — Micro Track Sciences, CyberTrek Technologies and Netkraft Technologies. At a time, Manthan, that means low introspection in Sanskrit, was only a name of a folder on his mechanism — a place where he would store pointless thoughts.
Manthan was innate after Jalan satisfied that information analytics was going to be a subsequent large thing. This was behind when Big Data wasn’t a hum word it has become.
A production connoisseur who suspicion he would be study a inlet of sub-atomic particles, Jalan put his believe of a sell and pharma businesses (Netkraft, a program services firm, was focused on a sell and medical businesses) to pattern analytics collection for companies in these businesses. Today, Netkraft has 14 opposite analytics products and serves business such as Prada, Crocs and Woolworth. From assisting companies pattern faithfulness programs to accumulate businessman insights, Manthan’s offerings assistance them make intelligent decisions formed on data.
“The timing was right, so was a team. Anybody who had a collection for collecting a right kind of information was unequivocally absolute and Manthan had it. For an Indian association to have all a business outward meant it was a world-class product. we can contend it with self-assurance currently that we done a right choice,” says Raj Dugar, handling director, FIL Capital Advisors India Pvt. Ltd.
MINTASIA’s TAKE: We have a thing for analytics.
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