India has become the second-largest country to send the maximum number of startups to Silicon Valley-based accelerator Y Combinator’s latest startup batch — W21.
According to Y Combinator, the latest batch — W21 — features 350 startups from 41 nations. It is important to find that even during the post-pandemic and second wave of Covid-19 global startup ecosystem is growing.
It is interesting to note that 50% of the startups in the new batch are based outside of the United States. And, it is the highest number in the history of Y Combinator.
India being the world’s second-largest internet market has succeeded in sending 43 startups in the new batch, another record figure in the history of the storied venture firm.
While the W20 batch had 25 Indian startups, up from 14 in S20, India also succeded in sending 12 each in S19 and W19 and one each in W16, S15 and W15 batches.
In a statement, Y Combinator said YC is going remote has helped make YC more attractive to companies at different stages and far away geographies.
“For companies in India, founders no longer have to spend three months away from their customers or teams. Covid has also taught us that building a programme that is remote and more software-based makes YC more accessible to founders around the globe,” said the firm.
When it comes to choosing founders in India, Y Combinator official said the organisation accepts them based on the same criteria that they judge companies from anywhere else. “Founders must be able to communicate their local context to investors. That is an important skill,” states the Y Combinator official.
Here’s a list of startups, in no particular order, from India that have made it to YC W21, with some context — wherever possible — on what they are attempting to build (several have elected to stay off the record).
Leap Club is attempting to build a Good Eggs for India. Leap Club users can order fresh and organic groceries sourced from local farms through the startup’s website or through WhatsApp. The startup says it delivers the item to customers within 12 hours of harvesting. Leap Club is already garnering over $14,000 in monthly revenue.
CashBook is building a cash account app for small businesses in India. There are over 60 million small businesses in the country, nearly all of which currently rely on traditional ways — pen and paper — for bookkeeping. The startup launched its app just six months ago and has already amassed 200,000 monthly active users. In the month of February, CashBook logged cash transactions of $511 million.
GimBooks is attempting to solve a similar problem as CashBook, though from a different angle. The startup says it offers industry-based invoicing and bookkeeping with integrated banking and payments. Its app has been downloaded more than 1.4 million times, amassed over 11,000 paying customers and clocked revenues of over $450,000.
BusinessOnBot is banking on the popularity of WhatsApp in India, where the Facebook-owned app has amassed over 450 million monthly active users. BusinessOnBot says it is building Shopify on WhatsApp for direct-to-consumer brands and small and medium-sized businesses, helping them acquire users and automate sales.