US based incubator Nexus has selected four Indian startups for nurturing and scaling up their business.
“We have selected four Indian start-ups for incubation — CleanLife, White Cub, RoadBounce and VCP. We will now work with them to provide them resources they need to scale up their business.
“For some it may be funds or technology development or customer acquisition. Nexus will assist them as per their need,” Nexus Director Erik Azulay said after announcing selection of the firms.
Delhi-based CleanLife, a bio-tech startup run by a team of IIT and IIM alumni, has developed body wash and shampoo that can provide waterless bathing and save water. The company is looking for investments to scale up its operations.
“We have sold our product to Army, hospitals. We are in talks with various security agencies and mariners for this product. 1 bottle of 100 millilitres can be used for 5 times bath and body can be wiped with a towel. It removes dirt, dust, oil, and odor,” CleanLife Founder and CEO Puneet Gupta said.
Gurgon-based White Cub, which has developed ice-cream free from cholesterol, transfat, sugar, gluten and dairy, is looking to raise fund for building team and procuring high-end refrigeration equipment.
“We are not very desperate for funds. If a suitable opportunity comes from a strategic investor we will explore. At present we are selling our product through 55 retail partners including Godrej Nature’s Basket,” White Cub CEO Sonal said.
She said the company’s business has grown from Rs 25 lakh in 2015-16 to Rs 40 lakh in 2016-17 and expects current fiscal to close with sales of around Rs 75 lakh.
Third Indian startup selected by Nexus is Pune-based Roadbounce, which uses mobile technology to identify road condition and traffic safety indicators. It essentially map potholes using smartphone-based sensors in short time. The company has mapped potholes on 25,000 kilometre roads in two months.
The fourth Indian startup selected by Nexus is VCP, which creates business problem cases for recruitment tests.
A start-up Distinct Horizon presented its agriculture solution claiming to double margins of rice and sugarcane farmers by reducing their crop production cost and increasing yield by about 25 per cent.
The above news was first reported at Times of India.