2016 saw a significantly higher number of women-led start-ups getting funded as compared to the year 2015. Though there are many investors who are still wary of investing women-led businesses, there were some who were impressed by the idea and pizazz shown by these founders.
Venture capitalists, angel investors, and others decided to invest in a few companies that were led by women and others where women were part of the co-founders’ team. Take a look at some start-ups that were funded in 2016.
This consumer loyalty and marketing platform helps local retailers reach their mass market consumers directly. Founded by Akanksha Hazari in 2012, the company works to cater to the consumer obsession of getting freebies for shopping, through an innovative, strong, and frugal business proposition. The company received a pre-Series A funding from Blume Ventures, with other angel investors from TaxiForSure, the Allana Group, MeraDoctor, and Signal Point Partners also opting in.
This Aditi Chadha-led company works to bring fashion and technology together to retail smart jewelry that is the epitome of smartness while sending out location-based safety alerts to the consumer’s friends or family. Vodafone invested $10500 in DAZL, making it the first company to receive seed investment in India.
Milofy is a social networking app that helps couples meet, socialize, and participate in like-minded activities like outdoor sports, dancing, etc. Milofy was founded by Arshya Lakshman in December 2015. Arshya has worked with Kalaari Capital before. Accel invested $740,000 in a pre-series A round. It was Accel Partners’ first investment in a social networking application.
The shopping website most people buy their cosmetic from, this company was set up in 2012. Founded by Falguni Nayar, who was formerly the Managing Director of Kotak Mahindra, Nykaa raised USD 12.3 million from the Mariwala family and Sunil Munjal in 2016.
Other women-led start-ups included CarveNiche, medECUBE, WiredHub, Wedding Wishlist, Styledotme, Advenio, Kidsstoppress, and more. Of the total 827 firms that received funding, only 27 were led by women. With demonetization and the prevalent gender bias against women entrepreneurs, getting funded appears to be an uphill battle, but somewhere a start has been made.