Hyderabad :

Three startups managed to impress investors at The Indus Entrepreneurs (TiE) Hyderabad’s SmashUp event on Saturday, bagging investments worth Rs 15 lakh each. The startups are Carving Notions Technologies, which designs and assembles drones; SunwizTech India Pvt Ltd that designed a mobile app for car owners to locate the best place for getting their vehicles serviced; and driver solutions provider Driverr.

During the event, 10 startups with working prototypes pitched their business ideas to angel investors. These start-ups were given just five minutes to pitch to individual investors for a funding of Rs 15 lakh against 10% equity.

“TiE’s SmashUp event has been continuously nurturing early stage startups to move up the value chain. Through this platform, we aim to not only mentor these startups, but also connect them to the investor community. TiE Hyderabad will continue to bring together all stakeholders and play a proactive role in creating an inclusive ecosystem to promote the culture of entrepreneurship,” Rakesh Bhatia-TiE Hyderabad board member and event co-chair said.

The event witnessed a participation of around 300 people representing various stakeholders of the ecosystem, including startups and entrepreneurs.

source: http://www.timesofindia.indiatimes.com / The Times of India / News Home> City> Hyderabad / TNN / August 09th, 2015