However India might benefit from an existing crowdfunding ideal ingrained in its socio-cultural practices. The "chanda" collection for the community puja (festival) is pure, unadulterated crowdfunding.
India's first crowdfunded film came way back in the 70's with Shyam Benegal's Manthan, which was produced by contributions from 2 milk farmers in Gujarat.
Today, a lot of prominent Indian filmmakers, musicians and entrepreneurs on the scene are waking up to the potential and power of crowdfunding. Some prominent examples include Onir (whose National Award winning film I AM was crowdfunded by more than 400 contributors); Kannada film Lucia and many more!
An Indian startup which builds robots that help online retailers automate their warehouses has raised funding from New York-based investment firm Tiger Global and early-stage investor Blume Ventures.
Grey Orange Robotics received about Rs 54 crore in the round where two angel investors Raju Reddy and Dileep Nath also participated, said a person with direct knowledge of the developments.
The world’s eyes are shifting toward India as the next big market to watch, especially for those of us who keep tabs on the global tech scene. It was inevitable, then, that people would start comparing startup ecosystems of the archetypal United States and this fast-emerging powerhouse. Almost like a right of passage, every major startup scene in the world gets stacked up against Silicon Valley as a bellwether for how far it’s come and how far it has yet to go. Whether a direct comparison ultimately benefits India or not is debatable, as many would argue India shouldn’t model its startup ecosystem after Silicon Valley, but it’s still interesting to see the contrast solely based on statistical evidence. That’s what TiE, a group of Silicon Valley entrepreneurs and executives with roots in the Indus region, has done with its latest infographic. TiE’s graphic compares four major startup hubs in India with their theoretical counterparts in the US; Bangalore versus Silicon Valley, New Delhi versus New York City, etc. Each comparison shows the cities’ 2013 population, number of startups, amount of investment capital, number of IPOs, and average valuation per startup.
Speech recognition experts Uniphore have secured an undisclosed amount of funding, reports the Economic Times. The investment comes from the Indian Angel Network, YourNest Angel Fund, and Stata Venture Partners’ founder Ray Stata. Uniphore make speech recognition tools for five international languages, but the Chennai startup’s speciality area is India’s numerous native languages – it has 14 of those covered. Like with Apple’s Siri or Google Now, the software understands natural human speech.
Indian e-store Flipkart announced yesterday it surpassed $1 billion in gross merchandising volume, according to NextBigWhat. Despite slowing sales growth, Flipkart reached the billion-dollar benchmark a full year earlier than originally projected and seven years after it first launched. Co-founder Sachin Bansal originally made that forecast in March 2013.
01 Bilna | Indonesia
01 Bilna | IndonesiaLaunched in November 2013, Bilna is an online store that sells products for babies, infants, as well as mothers. The company announced that it has closed series A funding raised from existing investors CyberAgent Ventures and East Ventures, as well as new investors DG Incubation (DGI), TMS Entertainment, and Golden Gate Ventures.
02 Renrendai | China
02 Renrendai | ChinaRenrendai is a Chinese online peer-to-peer lending service which is reported to have facilitated RMB 1 billion ($165.2 million) in loans as of August 2013, with a 276 percent year-on-year increase in the first half of last year. The startup announced its parent company, Renrenyou, received Series A funding from Trustbridge Partners and an undisclosed investor.
03 FlyData | Japan
03 FlyData | JapanFounded in 2011, FlyData is a Japanese startup based in Silicon Valley that makes big data storage on the cloud possible. The company also promises data analysts that they can move and analyze their data seamlessly and continuously on the cloud.
04 MetroPlate | Philippines
04 MetroPlate | PhilippinesRanked second in Startup Weekend Manila 2013, MetroPlate is a food delivery platform that focuses on healthy meals. Users can access the website and choose from a selection of healthy dishes cooked by restaurants that specialize in nutritious meals, which will then be delivered to the hungry users' doorstep.
05 Little Eye Labs | India
05 Little Eye Labs | IndiaIndia's Little Eye Labs is a testing and analytics tool for Android developers to improve app performance. The startup is a graduate of GSF's first accelerator program that began last year.
This week, the company announced that it has been bought by Facebook (FB), making it the social network titan's first acquisition in India.
06 Bukalapak | Indonesia
06 Bukalapak | IndonesiaBuilt in 2010, Bukalapak is one of the biggest C2C platform in Indonesia's crowded online marketplace scene. The company claims to excel in male-dominated categories like bikes, cameras, musical instruments, and computers. Bukalapak also recently revealed some data and progress that the company racked up in 2013.
07 Qraved | Indonesia
07 Qraved | IndonesiaQraved is a social dining directory and online reservation platform from Indonesia that went mobile, with it's brand new mobile booking app that is made available on both iOS and Android. The company is the first Indonesian startup to receive funding from 500 Startups. The seed investment was made alongside lead investor Rebright Partners and Skype co-founder Toivo Annus.
08 Social.gg | Thailand
08 Social.gg | ThailandSocial.gg is a new useful tool that can help users explore trends and hot topics on social media in Thailand. Similar to Google Trends or Twitter's trending topics, Social.gg gathers various trends on Facebook, in which users can check what the hottest topics of the moment are. This service is available to the public for free.
09 DealDozen | Philippines
09 DealDozen | PhilippinesStarted in March 2011, DealDozen is a daily deals site from the Philippines which was recently acquired by Asia Deal Group, the e-commerce group behind Streetdeal, for an undisclosed amount.
10 Saved | Malaysia
10 Saved | MalaysiaDeveloped by an eight-man team at Lentor, Saved is a new and slick personal finance and budgeting app for iPhone and Android that lets you set a budget and input what you spend. It then gives you simple analytics, based around either a graph or a calendar, about your expenditures.
India-based RoomnHouse offers travellers alternate accommodation options by allowing private accommodation owners to list their properties on the site. These accommodation options could be a shared room, apartment, private room, boat/tree house, service apartment, villa, farm house, etc. The service is similar to the industry leader in this segment – Airbnb. RoomnHouse was founded in November 2012 by Amit Solanki and Rakesh Singh. It also received seed fund from Euphoria Ventures (the firm has also invested in tours and activities platform Thrillophilia) Singh believes this alternate accommodation market is massive since its largely an unorganized industry, and it is also growing very fast because of the lower price bracket. He estimates the marketsize of alternate accommodation at 15-20 % of overall travel market. When it comes to competition, RoomnHouse says they aren't aware of any established player in their focus market of South East Asia and Middle East. - Source and more information