4 start-ups win on-the-spot funding at Nasscom event

Boutline, Routo, Drawtyme and Imly got Rs 10 lakh each

The National Association of Software and Services Companies in partnership with Microsoft Ventures has enabled four start-ups to raise a sum of Rs 10 lakh each as part of its 10,000 Start-ups initiative.

At the association’s Techstock event here last week,  Boutline, Routo, Drawtyme and Imly won spot funding after their business ideas were adjudged best by a panel of 10 investors.

Boutline and Imly were also accepted in the Microsoft Accelerator programme, said the association on Tuesday.

Eight start-ups were shortlisted for the funding. Jojobu, Parkwalla, Qpeka and Kooki were the other four shortlisted. The association has begun the 10,000 Start-ups programme with support from Google, Kotak, Microsoft and Verisign and aims to help fledgling companies with funding, mentoring and industry connections.

The fact that four post-prototype start-ups have raised funds on the spot from a panel of entrepreneurs and well-connected mentors, would give tremendous confidence to those who aspire to start-up shortly, Rehan Yar Khan, Managing Director, of Orios Ventures was quoted as saying.

Orios Venture Partners is an early stage venture fund which primarily invests in software and technology-enabled start-ups.

Among the winners, Boutline manages an event audience engagement application, while Routo creates suite of location sharing application for business listings and location tracking. Drawtyme offers a mobile video platform for teachers to share interactive videos with students and Imly offers marketplace of homecooked delicacies.