In 2024, Kerala’s startup ecosystem surged, achieving a valuation of $1.7 billion, outperforming global growth rates. It ranked as the top state in the Global Startup Ecosystem Report, showcasing the rise of innovative startups in deep tech, agritech, and more, with ten standout companies leading the charge.
Last year, Kerala’s startup ecosystem experienced remarkable expansion, outpacing global growth fivefold and achieving a valuation of $1.7 billion. It proudly topped the 2024 Global Startup Ecosystem Report, surpassing states like Telangana, Tamil Nadu, and Karnataka, which elevates its status in the international entrepreneurial arena.
Kerala has seen a surge in innovative deep tech startups. Here, we spotlight ten promising companies making waves in 2024:
1. Netrasemi Pvt Ltd: Founded in 2020 by Jyothis Indirabhai, Sreejith Varma, and Deepa Geetha in Thiruvananthapuram, Netrasemi specializes in semiconductors, creating system-on-chips designed for smart IoT usage, achieving Rs 40 crore in grant funding.
2. ENTRI Software Pvt Ltd: Launched in 2017 by Mohammed Hisamuddin and Rahul Ramesh, this Kochi-based platform has raised $13.64 million, providing vernacular learning resources aimed at helping users secure their desired jobs.
3. Inntot Technologies: Founded in 2014, this Kochi Infopark entity focuses on software-defined radio technology, achieving a milestone of 1 million car deployments and total funding of $535,000.
4. Growcoms Pvt Ltd: Founded in 2020, this agritech startup raised $3.5 million to enhance market linkages for farmers and food firms via innovative technology services.
5. Sascan: Established in 2015 by Dr. Subhash Narayanan, Sascan aims to provide affordable cancer care solutions with a focus on sustainable models and has secured Rs 16 crore in funding.
6. Green Worms: Founded in 2014 by Jabir Karat and Akshay Gunteti, this sustainable waste management firm raised Rs 25 crore and won accolades for its impactful environmental initiatives.
7. ClusterDev Technologies: Since 2017, ClusterDev has created apps supporting multilingual typing, achieving 100 million downloads and enhancing user engagement across India.
8. Rosh.Ai: Founded in 2021, Rosh.Ai is innovating in autonomous vehicles, having raised Rs 10 crore and focusing on advanced autonomy technologies.
9. EYEROV Technologies Pvt Ltd: Founded in 2016, this marine robotics firm specializes in underwater drones, having fast-tracked its growth in providing inspection solutions for various industries.
The rise of Kerala’s startup ecosystem is a testament to the state’s collaborative spirit and innovative thinking, propelling it onto a global stage. The remarkable growth rate indicates not just investment but a thriving culture of entrepreneurship that is crucial for economic vitality. Emerging technologies in semiconductor manufacturing, vernacular learning, agritech, and healthcare solutions reflect the diverse innovations taking root in Kerala, showing promise for future advancements and job creation. These ten highlighted startups exemplify this dynamism, each offering unique solutions addressing specific market needs. Their successful funding and milestone achievements signify a vibrant entrepreneurial landscape that continues to attract attention and investment.
Kerala’s startup ecosystem has not only achieved significant growth but is also setting benchmarks in various sectors such as technology, healthcare, and environmental sustainability. The state’s commitment to nurturing these innovative businesses places it at the forefront of the global entrepreneurial movement. As these startups flourish, they not only drive economic growth but also address pressing societal needs, making Kerala a beacon of innovation well into 2024.
Original Source: www.newindianexpress.com
