BENGALURU: Technology startups serving retail shoppers - like Flipkart, Ola, Oyo and Swiggy - have hogged a lot of the attention these previous few years. A brand new learn about now says tech startups serving businesses are growing in numbers significantly sooner than the patron ventures, and that funders too are becoming serious about the phase.
Between 2014 and 2018, such business-to-business (B2B) ventures grew through greater than thrice from 900 to three,200, says the learn about through information control company NetApp and consulting firm Zinnov. Funding to B2B startups surged through 364% to $three.7 billion.
While B2B startups were 29% of total tech startups in India in 2014, they rose to 43% remaining year. At least 5 of these startups have accomplished unicorn status (a private company valued at $1 billion or extra). These come with InMobi, Freshworks, Udaan, BillDesk and Delhivery. And 5 extra - Pine Labs, Druva, GreyOrange, Rivigo and Lendingkart - are expected to quickly hit that milestone.
Zinnov CEO Pari Natarajan said there hasn't ever been a better time to be a technology entrepreneur in India than now. "The incredible rise in the number of B2B startups as a percentage of the total tech startups is a testament to this," he said.
Venture firm Blume Ventures managing spouse Sanjay Nath said there may be been a sea trade in the B2B startup atmosphere. Earlier, he said, the B2B founders were very good technologists, many had returned from overseas. But they would not find enough skill - the ones with PhDs and Masters in spaces like information science and AI - to construct a just right company. "But now you have people coming out of the NetApps, Ciscos and Microsofts in India and joining startups. I was in a GreyOrange warehouse a couple of years ago and I saw this white Caucasian guy interviewing an Indian guy in Gurgaon. Earlier, you got global talent at the MNC stage, not at the startup stage. That's abig shift," he said.
Corporate accelerators are also taking part in an enormous function in mentoring B2B startups, offering them technology toughen and market get right of entry to. The learn about says there are over 50 company accelerators and incubators in the nation.
Among those who have accelerators are NetApp, Cisco, Target, Intel, Swiss Re, Bosch, Oracle, Airbus, as additionally Indian entities like Essel Group, Yes Bank and Axis Bank.
The corporates too take pleasure in the inventions through the startups in their programmes. "Industries where there is a high level of disruption, like banking, need to look for innovation outside the organisation," Natarajan said.
The learn about said over 800 of the three,200 startups may well be categorised as 'complicated tech startups' - leveraging applied sciences comparable to AI, blockchain, information analytics, IoT and 3-D printing to construct their core product or service providing. Bengaluru has probably the most B2B tech startups, at about 800, followed through Delhi-NCR (550) and Mumbai (400).
There are two varieties of B2B companies. There are those who build for the India market, many of which can be serving the e-commerce ecosystem, like Udaan, BlackBuck and Rivigo that toughen the logistics or small enterprise infrastructure. And there are those who are construction for global markets, like Freshworks, Chargebee and Druva.
"Many are thinking global from day one. In ambition levels, we are right up there now," Nath said.
Between 2014 and 2018, such business-to-business (B2B) ventures grew through greater than thrice from 900 to three,200, says the learn about through information control company NetApp and consulting firm Zinnov. Funding to B2B startups surged through 364% to $three.7 billion.
While B2B startups were 29% of total tech startups in India in 2014, they rose to 43% remaining year. At least 5 of these startups have accomplished unicorn status (a private company valued at $1 billion or extra). These come with InMobi, Freshworks, Udaan, BillDesk and Delhivery. And 5 extra - Pine Labs, Druva, GreyOrange, Rivigo and Lendingkart - are expected to quickly hit that milestone.
Zinnov CEO Pari Natarajan said there hasn't ever been a better time to be a technology entrepreneur in India than now. "The incredible rise in the number of B2B startups as a percentage of the total tech startups is a testament to this," he said.
Venture firm Blume Ventures managing spouse Sanjay Nath said there may be been a sea trade in the B2B startup atmosphere. Earlier, he said, the B2B founders were very good technologists, many had returned from overseas. But they would not find enough skill - the ones with PhDs and Masters in spaces like information science and AI - to construct a just right company. "But now you have people coming out of the NetApps, Ciscos and Microsofts in India and joining startups. I was in a GreyOrange warehouse a couple of years ago and I saw this white Caucasian guy interviewing an Indian guy in Gurgaon. Earlier, you got global talent at the MNC stage, not at the startup stage. That's abig shift," he said.
Corporate accelerators are also taking part in an enormous function in mentoring B2B startups, offering them technology toughen and market get right of entry to. The learn about says there are over 50 company accelerators and incubators in the nation.
Among those who have accelerators are NetApp, Cisco, Target, Intel, Swiss Re, Bosch, Oracle, Airbus, as additionally Indian entities like Essel Group, Yes Bank and Axis Bank.
The corporates too take pleasure in the inventions through the startups in their programmes. "Industries where there is a high level of disruption, like banking, need to look for innovation outside the organisation," Natarajan said.
The learn about said over 800 of the three,200 startups may well be categorised as 'complicated tech startups' - leveraging applied sciences comparable to AI, blockchain, information analytics, IoT and 3-D printing to construct their core product or service providing. Bengaluru has probably the most B2B tech startups, at about 800, followed through Delhi-NCR (550) and Mumbai (400).
There are two varieties of B2B companies. There are those who build for the India market, many of which can be serving the e-commerce ecosystem, like Udaan, BlackBuck and Rivigo that toughen the logistics or small enterprise infrastructure. And there are those who are construction for global markets, like Freshworks, Chargebee and Druva.
"Many are thinking global from day one. In ambition levels, we are right up there now," Nath said.
B2B tech startups grow over three times to 3,200
![B2B tech startups grow over three times to 3,200]()
Reviewed by Kailash
on
May 08, 2019
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