Angel investment network Hyderabad Angels has backed five tech startups with around Rs 10 lakh each ($16,000) at the 'Startup Heroes' event organised by TiE's Hyderabad chapter. These ventures include lead generation tool Enabli, student community network Yo Grad, mobile app play your sport, hostel accommodation discovery site Hostelduniya.com and IoT product company CBS.
The five startups were selected among 10 which had pitched their respective business models to 10 investors from Hyderabad Angels. These startups have diluted around 8 per cent each in the process.
This is the second such event organised by TiE, Hyderabad. Earlier, social commerce startup VioletStreet.com and Ziffy, an app for ride sharing, had raised an investment of Rs 10 lakh (over $16,000) each.
Here is a quick look at the five startups:
Enabli - Run by Spellbound Information Solutions Pvt Ltd, Enabli is a lead generation tool for consumer facing businesses. Based on a subscription model for B2C businesses like photographers, real-estate agents and wedding planners, the startup's proprietary algorithm analyses posts on social media and filters conversations where a user is seeking a business or a service.
Yo Grad - It is a community for students to create clubs and engage in conversations with peers from different colleges. They earn reward points on the platform and can redeem them for student offers and discounts.
Play your sport - A location-based mobile app that enables its users to create, join and book sports and fitness activities in their nearby location.
Hostel Dunia - It provides information like accommodation facilities, food menu, address, pictures, reviews and ratings about hostels around a user.
CBS - It is an IoT product platform based company that helps in fetching data from different devices and sensors and provide smart solutions in accordance with business needs.
(Edited by Joby Puthuparampil Johnson)