While the Indian startup industry might not have had a great inning last year, it for surely wasn't able to dim the spirit of the city of dreams, Mumbai. The city saw many new Startups arriving at the block with some really innovative ideas and some old ones were able to further up their game. Here, in this article, we discuss the top 10 Mumbai-based startups that caught our attention in the year 2016 and are on their way to do exceptionally well in 2017.
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Team Nanosniff[/caption]
Founded by Kapil Bardeja, an IIT Delhi alumnus and serial entrepreneur, and Dr Nitin Kale, an IIT Bombay alumnus and head of micro-fabrication for the startup, NanoSniff Technologies is an spin-off from the Center of Excellence in Nano-electronics (CEN) at IIT Bombay. It was started to commercialize products from the technologies developed from the research work conducted at CEN. The startup uses micro-electro-mechanical systems (MEMS), which is the technology for miniaturized devices, to develop applications for the detection of industrial hazards, security and surveillance systems and medical devices. It has filed multiple patents in MEMS sensor technologies.
NanoSniff is the first Indian company to successfully commercialize to microcantilever and microheater sensor technologies and sell these devices off-the-shelf. The startup's clients include ISRO and Germany-based Max Planck Society for the Advancement of Science.
Funding: Raised $300,000 (Rs 2 crore) from crowdfunding platform 1Crowd and its investor community [Funding News].
Founded in 2016, the startup has developed next generation products to revolutionize the way surgeries are being performed, using advanced computing methods, enhanced visualization and automation. Notably, the startup is one of the 40 StartUps invited to Silicon Valley, USA during Indian PM Modi visit.
The team at the startup has developed a cloud based software touted as for orthopedic surgeons -- world first 2D X-ray based 3D surgery planning software -- to accurately plan deformity correction and knee replacement surgeries by turning 2D X-Rays into 3D view and in turn envisage a 3D 'virtual surgery plan' to make accurate surgical decisions resulting an accurate surgical outcome.
Funding: Self-Funded
An alumnus of Mumbai-based accelerator Venture Nursery, Arya.ai was started with a vision of building ‘intelligence’ that can help humans in solving complex problems at a much faster pace. The startup provides advanced AI tools that developers can use to build robots that can assist professionals from different fields in their tasks. It is one of the first Indian startups to make it to the list of international innovators, Paris & Co, a French innovation agency.
The startup made news last year for announcing the global launch of ‘Braid’, an Open Source tool to build intelligence quickly into systems. Braid is being offered free and open source, to companies that use research scientists and technologists developing neural networks.
The startup's success got its founders, Vinay Kumar Sankararapu and Deekshith Marla selected to the first ever Forbes ‘30 Under 30’ Asia list [Read Here].
Funding: Raised $750k in Seed Funding.
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Team Qure.ai - (L-R) Prashant Warier, Pooja Rao and Sasank Chilamkurthy[/caption]
Founded in 2016 and a healthcare AI subsidiary of Fractal Analytics, Qure aims to revolutionize the way patients are diagnosed and treated using cutting-edge deep learning technology, a form of artificial intelligence.
As the new sources of large, complex data such as genome sequencing, biosensors and connected devices are being adopted across healthcare industry, the startup applies the latest deep learning technology to healthcare and medical data and develop innovative solutions to help diagnose disease and recommend personalized treatment plans from healthcare imaging data.
Qure's artificially intelligent radiology solution can diagnose disease from CT Scans, MRIs and X-rays as well as outline and quantify regions of interest such as tumors or lung disease patterns. In December 2016, the startup has won the Social Innovation Award at the Nvidia Emerging Companies Summit, India.
Funding: Self-Funded
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Fluid.AI Co-founders[/caption]
Founded by Aggarwal brothers -- Raghav and Abhinav, who are dropped out of IIM Ahmedabad and ISB respectively, Mumbai-based Fluid.AI uses uses genetically evolving neural networks to create over 100,000 iterative models from data sources and studies the data pattern which arises from the model evolves accordingly and improves feedbacks whenever the market conditions change.
The startup in a layman's term predicts what is the next best product to upsell a customer , what’s the likelihood for a bank customer defaulting on a loan, or preventing fraud from a million transactions.
Funding: Bootstrapped till date
Building a diverse fitness ecosystem of smart bands, smart shoes, and custom wireless headphones, Boltt is looking to cater to the white space currently present in the wearables domain, with its wide range of products and solution.
The startup’s meticulous Artificial Intelligence reinventing successfully complements the software part of the fitness gadgets space. Its products are an impressive combination of an Artificial Intelligence (AI) Health Coach and various advanced fitness wearables.
The startup was in the news last year when it showcased its 'smart shoes’ or the ‘smart sneakers’ at Techcrunch’s TechDisrupt event in San Francisco [Read Here].
Funding: USD 1.7 millions in two different seed rounds.
[box]Related Reading - 10 Most Innovative Bangalore Based Startups in 2016[/box]
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Team Vphrase[/caption]
It is an Artificial Intelligence-based platform that makes complex data reports more readable and helps companies make their reports easy to understand by explaining the insights in captivating words.
The startup's patent pending platform, Phrazor, analyses data, derives insights and then communicates those insights, in words, in multiple languages. It automates the work of analysis and communication which is the forte of expensive domain experts and it does this at a fraction of their cost. The startup has users in India, Sri Lanka, Thailand, and Indonesia.
Funding: Undisclosed seed funding via Apoorv Ranjan Sharma and Daud Ali from Venture Catalysts
Founded in the year 2015, Thinkphi is a clean-tech company that has a goal of developing products based on three pillars of sustainability; waste, water, and energy. Using the principles of environmental science and sustainable design, the startup designs simple but intelligent products that help in improving lives on Earth by influencing behavioural change in the way humans manage water, energy, and waste resources available to them.
The company’s first product -- Ulta Chata (in image above) is an inverted canopy like structure that provides potable water by capturing rain water during the monsoon and solar energy for the rest of the year. Each unit has the capability to harvest and filter up to 100,000 liters during the rainy season and a maximum solar capacity of 1.5KW.
Funding: Raised undisclosed amount in angel funding from serial entrepreneur Nimmagadda Prasad .
Maher Soft is primarily involved in manufacturing Industrial and consumer grade 3D Printers. The company does close to 500+ hours of testing on its prototype machines before sending it into production so as to maintain the quality of its products. This precision and quality is the very reason that Maher Soft has earned high repeatability of its products.
For Maher Soft, the actual 3D printing journey started when one fine day the company bought the leading consumer grade 3D Printers. Unfortunately, the leading printers ended up miserably failing the startup’s basic benchmark tests. The frustration caused by this motivated the company to build its own 3D Printers.
The startup ha built Indie, an Industrial grade 3D Printer, after more than 5000 hours of testing. This high precision dual nozzle 3D Printer is currently considered as the most reliable 3D Printer in the whole wide country. Another great product by the startup is a consumer grade 3D Printer by the name Max.
Funding: Self-Funded
It is an online wealth management platform for retail investors and a robo-advisory based curated marketplace for retail investors to find based on their past performance, client ratings or industry experience.
The startup's vision is to assist individual investors through its affordable, transparent and research-driven financial advisory service. The startup has recently been shortlisted for Startupbootcamp FinTech, a global accelerator for fintech startups.
Funding: Received about $16K on 6% equity through Startupbootcamp.
The Mumbai-based IoT startup for home automation started the year with a bang by being one of the four startups to be selected for on the spot funding at the annual summit hosted by the entrepreneurial cell of IIT Bombay. The startup provides intelligent and innovative end-to-end IoT solutions for home automation applications like controlling thermostat temple etc. at extremely affordable prices. The startup claims that its platform has a “sixth sense” to anticipate the needs of the user.
Funding: Received INR 70 lakh in an investment by Sanjay Mehta.
[Top-most Image - Shutterstock]
NanoSniff Technologies
Deep Technology
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Team Nanosniff[/caption]Founder - Kapil Bardeja
Founded by Kapil Bardeja, an IIT Delhi alumnus and serial entrepreneur, and Dr Nitin Kale, an IIT Bombay alumnus and head of micro-fabrication for the startup, NanoSniff Technologies is an spin-off from the Center of Excellence in Nano-electronics (CEN) at IIT Bombay. It was started to commercialize products from the technologies developed from the research work conducted at CEN. The startup uses micro-electro-mechanical systems (MEMS), which is the technology for miniaturized devices, to develop applications for the detection of industrial hazards, security and surveillance systems and medical devices. It has filed multiple patents in MEMS sensor technologies.
NanoSniff is the first Indian company to successfully commercialize to microcantilever and microheater sensor technologies and sell these devices off-the-shelf. The startup's clients include ISRO and Germany-based Max Planck Society for the Advancement of Science.
Funding: Raised $300,000 (Rs 2 crore) from crowdfunding platform 1Crowd and its investor community [Funding News].
AlgoSurg
Medical Technology
Founders - Amit Maurya and Dr. Vikas Karade
Founded in 2016, the startup has developed next generation products to revolutionize the way surgeries are being performed, using advanced computing methods, enhanced visualization and automation. Notably, the startup is one of the 40 StartUps invited to Silicon Valley, USA during Indian PM Modi visit.
The team at the startup has developed a cloud based software touted as for orthopedic surgeons -- world first 2D X-ray based 3D surgery planning software -- to accurately plan deformity correction and knee replacement surgeries by turning 2D X-Rays into 3D view and in turn envisage a 3D 'virtual surgery plan' to make accurate surgical decisions resulting an accurate surgical outcome.
Funding: Self-Funded
Arya.ai
Artificial Intelligence
Founders: Vinay Kumar Sankararapu, Deekshith Marla
An alumnus of Mumbai-based accelerator Venture Nursery, Arya.ai was started with a vision of building ‘intelligence’ that can help humans in solving complex problems at a much faster pace. The startup provides advanced AI tools that developers can use to build robots that can assist professionals from different fields in their tasks. It is one of the first Indian startups to make it to the list of international innovators, Paris & Co, a French innovation agency.
The startup made news last year for announcing the global launch of ‘Braid’, an Open Source tool to build intelligence quickly into systems. Braid is being offered free and open source, to companies that use research scientists and technologists developing neural networks.
The startup's success got its founders, Vinay Kumar Sankararapu and Deekshith Marla selected to the first ever Forbes ‘30 Under 30’ Asia list [Read Here].
Funding: Raised $750k in Seed Funding.
Qure.ai
AI-based Healthcare
[caption id="attachment_116337" align="aligncenter" width="700"]
Team Qure.ai - (L-R) Prashant Warier, Pooja Rao and Sasank Chilamkurthy[/caption]Founders: Prashant Warier & Pooja Rao
Founded in 2016 and a healthcare AI subsidiary of Fractal Analytics, Qure aims to revolutionize the way patients are diagnosed and treated using cutting-edge deep learning technology, a form of artificial intelligence.
As the new sources of large, complex data such as genome sequencing, biosensors and connected devices are being adopted across healthcare industry, the startup applies the latest deep learning technology to healthcare and medical data and develop innovative solutions to help diagnose disease and recommend personalized treatment plans from healthcare imaging data.
Qure's artificially intelligent radiology solution can diagnose disease from CT Scans, MRIs and X-rays as well as outline and quantify regions of interest such as tumors or lung disease patterns. In December 2016, the startup has won the Social Innovation Award at the Nvidia Emerging Companies Summit, India.
Funding: Self-Funded
Fluid AI
AI-based Data Analytics & Insights
[caption id="attachment_116339" align="aligncenter" width="700"]
Fluid.AI Co-founders[/caption] Founders - Raghav Aggarwal and Abhinav Aggarwal
Founded by Aggarwal brothers -- Raghav and Abhinav, who are dropped out of IIM Ahmedabad and ISB respectively, Mumbai-based Fluid.AI uses uses genetically evolving neural networks to create over 100,000 iterative models from data sources and studies the data pattern which arises from the model evolves accordingly and improves feedbacks whenever the market conditions change.
The startup in a layman's term predicts what is the next best product to upsell a customer , what’s the likelihood for a bank customer defaulting on a loan, or preventing fraud from a million transactions.
Funding: Bootstrapped till date
Boltt
Sports Wearables
Founders: Arnav Kishore, Aayushi Kishore
Building a diverse fitness ecosystem of smart bands, smart shoes, and custom wireless headphones, Boltt is looking to cater to the white space currently present in the wearables domain, with its wide range of products and solution.
The startup’s meticulous Artificial Intelligence reinventing successfully complements the software part of the fitness gadgets space. Its products are an impressive combination of an Artificial Intelligence (AI) Health Coach and various advanced fitness wearables.
The startup was in the news last year when it showcased its 'smart shoes’ or the ‘smart sneakers’ at Techcrunch’s TechDisrupt event in San Francisco [Read Here].
Funding: USD 1.7 millions in two different seed rounds.
[box]Related Reading - 10 Most Innovative Bangalore Based Startups in 2016[/box]
VPhrase
AI-based Data Analytics
[caption id="attachment_116342" align="aligncenter" width="700"]
Team Vphrase[/caption]Founder: Neerav Parekh
It is an Artificial Intelligence-based platform that makes complex data reports more readable and helps companies make their reports easy to understand by explaining the insights in captivating words.
The startup's patent pending platform, Phrazor, analyses data, derives insights and then communicates those insights, in words, in multiple languages. It automates the work of analysis and communication which is the forte of expensive domain experts and it does this at a fraction of their cost. The startup has users in India, Sri Lanka, Thailand, and Indonesia.
Funding: Undisclosed seed funding via Apoorv Ranjan Sharma and Daud Ali from Venture Catalysts
Thinkphi
Clean Technology
Founders: Samit Choksi, Priya Vakil Choksi
Founded in the year 2015, Thinkphi is a clean-tech company that has a goal of developing products based on three pillars of sustainability; waste, water, and energy. Using the principles of environmental science and sustainable design, the startup designs simple but intelligent products that help in improving lives on Earth by influencing behavioural change in the way humans manage water, energy, and waste resources available to them.
The company’s first product -- Ulta Chata (in image above) is an inverted canopy like structure that provides potable water by capturing rain water during the monsoon and solar energy for the rest of the year. Each unit has the capability to harvest and filter up to 100,000 liters during the rainy season and a maximum solar capacity of 1.5KW.
Funding: Raised undisclosed amount in angel funding from serial entrepreneur Nimmagadda Prasad .
Maher Soft
3D Printer
Founders: Mohammed Khorakiwala
Maher Soft is primarily involved in manufacturing Industrial and consumer grade 3D Printers. The company does close to 500+ hours of testing on its prototype machines before sending it into production so as to maintain the quality of its products. This precision and quality is the very reason that Maher Soft has earned high repeatability of its products.
For Maher Soft, the actual 3D printing journey started when one fine day the company bought the leading consumer grade 3D Printers. Unfortunately, the leading printers ended up miserably failing the startup’s basic benchmark tests. The frustration caused by this motivated the company to build its own 3D Printers.
The startup ha built Indie, an Industrial grade 3D Printer, after more than 5000 hours of testing. This high precision dual nozzle 3D Printer is currently considered as the most reliable 3D Printer in the whole wide country. Another great product by the startup is a consumer grade 3D Printer by the name Max.
Funding: Self-Funded
ManageMyFortune
FinTech
Founders: Sameer Naringkrekar
It is an online wealth management platform for retail investors and a robo-advisory based curated marketplace for retail investors to find based on their past performance, client ratings or industry experience.
The startup's vision is to assist individual investors through its affordable, transparent and research-driven financial advisory service. The startup has recently been shortlisted for Startupbootcamp FinTech, a global accelerator for fintech startups.
Funding: Received about $16K on 6% equity through Startupbootcamp.
IntuitThings
Affordable Home Automation
Founders: Neil Savant
The Mumbai-based IoT startup for home automation started the year with a bang by being one of the four startups to be selected for on the spot funding at the annual summit hosted by the entrepreneurial cell of IIT Bombay. The startup provides intelligent and innovative end-to-end IoT solutions for home automation applications like controlling thermostat temple etc. at extremely affordable prices. The startup claims that its platform has a “sixth sense” to anticipate the needs of the user.
Funding: Received INR 70 lakh in an investment by Sanjay Mehta.
[Top-most Image - Shutterstock]
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