Pune, competing with Bangalore in Startups world
Pune often referred as Oxford of the east, considered to be major competitor to Bangalore in the world of startups. Few factors have contributed for this tremendous growth. Factors like presence of large colleges with talented students, friendly climate and vibrant outlook.
In terms of technology and startups, there has been significant push in recent past. Cheaper infrastructure costs along with good connectivity; pleasant weather makes Pune a Challenger to Bangalore. For every city which has its own limitations and drawbacks. Pune too has few challenges like the hiring and lack of venture capitalists.
An average Puneite is culturally stuck to a conventional job. Lack of startup mindset amongst the vast pool of talent is another factor. Another factor would be lack of knowledge sharing.
Pune gave birth to several startups, most of them seen funding or few of them have been acquired. Companies like Druva Software, founded in 2007. An enterprising laptop backup and retrieval company based out of Pune is operating now in US and UK. The company provides advanced enterprise data protection solutions for data.
Druva Insync, an enterprise cloud backup solutions offers an on premise and cloud solution. It includes automated backup of your devices like smartphones and tablets. It provides secured file sharing with enterprise grade security and enforcement of policy. It prevents Data loss with data encryption, geo tracking and remote data deletion.
Some of startups from Pune which are making headlines are Quickheal and Pubmatic. Quickheal started as a computer repair shop earlier known as CAT Computer Services. Several years of struggle made company to evolve from hardware to software solutions Company.
Quickheal customer base is growing from leaps to bounds. Prominent companies like Just Dial and Apollo Hospitals are among their clients. They are planning to spruce up their operations and advertising, due to higher penetration of smart phones and tablets along with computers.
Quickheal has expanded its operations to Japan, Africa, USA and UAE and planning to extend to Australian and European markets. The company has filed for IPO (Initial Public Offering) with regulatory authorities, which permits them to go public in the next few months. Sequoia funded Quickheal in 2010 with 60 Crores.
Few promising startups from Pune are CarIQ, Let’s Ride, Rolocule, ViralMint, AllizHealth, Megavenues and Quinto to name a few.
Pubmatic is the technology platform company sells products and services targeted towards the online advertising market. They have developed a product called Pubmatic, a software product company with solutions in the cloud and mobile advertising space. Recently Pubmatic received funding of $13 Million from Nokia Growth Partners. With these funding, total amount of funding for Pubmatic has risen to $76 Million which includes $45 Million funding from August capital.
Pubmatic is eyeing for valuation of $1 Billion as per Wall Street Journal article. Hopefully if it materializes, Pubmatic will be the first software product company to become public.
Pune is also the hub of automobiles of leading automobile manufacturers. Automotive companies like Tata Motors, Mahindra and Mahindra to name few. Many auto ancillary units have sprung up around Pune like Continental AG and Visteon.
Lot of opportunities are present for startups in Pune, the city has to harvest the feel good factor to beat the best.