Five T-Hub incubation programme startups sign MoUs, raise funding
Five startups from the second batch of Lab 32, Hyderabad-based startup incubator T-Hub’s incubation programme, have managed to gain market traction in the form of of MoUs (memorandum of understanding) with state governments and corporates. Some have also raised capital from institutional and angel investors.
Lab32 was launched in 2018, and the first batch of startups from Lab32 claims to have helped create over 2,000 jobs and raise over Rs 112 crore during the incubation programme. For the second batch, T-Hub had shortlisted 45 startups from over 500 applications received from across the world.
The five startups that have shown traction include:
Concent Solutions: The Hyderabad-based startup was founded in 2017, and provides accessible and affordable healthcare through the digital medium.
It entered into a tri-party MoU as a technology partner with MGHN (Mass Gathering Health Network), a UK- based social enterprise, and Help Hyderabad, a non-government organisation (NGO), to work on health issues at mass gatherings.
The partnership was awarded a pilot project from the Telangana State Haj Committee to undertake health screening for over 3,500 Haj pilgrims in 2019. It successfully completed the screening using Healpha, a connected health platform.
Healpha was also awarded the Telangana government minority schools’ health check-up project. Concent has screened 25,000 children, making an impact by identifying health issues early and enabling both prevention and cure.
Param.ai: The Hyderabad-based startup was founded in 2017 by Hari Krishna Reddy. The company has signed a multi-year contract with enterprise companies like Indigo, Emerson and Practo. These companies use the startup’s recruiting platform and its artificial intelligence (AI) capability to discover, engage and hire candidates. The startup recently raised a second round of funding from Aecal.de (German VC) and angel investors like Rajesh Sawhney (founder, GSF Accelerator and co-founder, Inner Chef and Healthy. in).
StaTwig: The Hyderabad-based startup was founded in 2016 by Sid Chakravarthy and Ravi Kumar. The company signed an MoU with UC Berkeley Smart Village Movement (SVM) and the Arunachal Pradesh government to track vaccine inventory, vaccine quality and immunisation coverage in the state.
The startup is deploying a blockchain-based vaccine supply chain in Arunachal Pradesh with the help of UC Berkeley's SVM. It will help the Arunachal Pradesh government reliably track the distribution of vaccines and evaluate their programme efficacy.
It will also enable UC Berkeley’s SVM in its mission to capture data, knowledge and expertise from academic, industry and public sector collaborators to solve rural challenges. StaTwig is also hoping to deploy similar solutions in Telangana and other states.
TV2Z: The Hyderabad-based startup was founded in 2016 by Phani Kanth Vooka and Wouter Schreur. The company has raised $430,000 in a new round of funding from VB Ventures, Netherlands.
The new funding will help the startup build a platform where every company can start its own OTT VOD (Over The Top - Video on Demand) platform instantly. The fund will also be used to grow its employee base globally to accelerate its worldwide expansion.
Recently, TV2Z partnered with Youku Tudou Inc., an entertainment and media company, to launch its content in Europe.
Wearberry Soft Solutions: The Hyderabad-based startup was empanelled as a vendor by TCIL (Telecommunications Consultants India Limited). The AI fintech modules of the company have also been whitelisted by YES Bank. They have been awarded for their innovation CIRAD – a portable IoT fintech network switch that can work even in regions of low Internet connectivity.