Delhi-National Capital Region (NCR) recorded the highest number of startups found in the first half of the year 2020. This hike is backed up by the digital ecosystem, government support, and infrastructure, including startup accelerators, incubators, and enablers.
According to data by venture capital industry tracker Tracxn, during the first six months, 109 startups were registered in Delhi-NCR. This was followed by 63 in Bengaluru, and 44 in Mumbai. Sectors such as edtech, fintech, and enterprise applications saw several start-ups offering covid-related solutions. The revenue raised by Bengaluru startups, however, was more than that from Delhi and Mumbai.
Some new startups from Delhi-NCR are:
- fashinza.com
- ramjagenosensor.com
- marvey.app
- owo.in
- reezy.in
- Park Plus
“For us, Delhi is a great fit for our business both from the market as well as talent perspective,” says Amit Lakhotia, CEO and Founder, of Park Plus. Park Plus is an app-based parking solution. The company offers a QR-based contactless parking solution and raised $11 million this year. Delhi, being the biggest car market in India also helps in the business.
Amidst pandemic, many startups shifted their services online. Ashutosh Pandey, founder of Elate Well-being, which focuses on premium well-being services launched in January says, “The NCR population is tech-savvy and were able to readily transform and adapt to online services during the lockdown phase.” Elate, currently offers more than 20 short-duration online programs for physical and mental well-being.
The main attraction for startups here is that the area comprising Delhi, Noida, and Gurugram, provides a bigger market base. It matches the IT Hub Bengaluru on investor ecosystem support according to business analysts. Many young startup founders also share a similar outlook about Delhi. According to the 2019 report, there are more than 7000 startups now in NCR. Also, at least one new unicorn is emerging each year like PayTM, Oyo, and Zomato.
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