Two firms funded by Kerala Startup Mission (KSUM) have won the pitching competition at the Convergence India Expo-2022, one of the most significant expos that finished in New Delhi on Friday, in a big validation of Kerala’s expanding startup ecosystem. According to a press release, Troncart Solutions Pvt Ltd and Riod Logic won first and second place in the IIT Patna Incubation Centre pitch competition held during the 29th edition of the three-day exhibition at Pragati Maidan. Troncart received a reward of Rs 1 lakh, as well as incubation chances from the IIT Patna Incubation Centre. Riod, the runner-up, will be granted incubation opportunities as well.
Chargemod and Le Orion Pvt Ltd, both KSUM businesses, advanced to the finals of the North Star Dubai Pitch competition, which was conducted on the sidelines of the exhibition. The winner of this competition will get a subsidised travel to the Dubai North Star event (for two persons from the winning startup). KSUM CEO John M Thomas praised the firms’ achievements, saying that the innovative ideas given by these startups demonstrate the skill pool and strength of Kerala’s startup ecosystem.
“KSUM startups have got immense recognition at the event and they were able to benefit from the interactions with industry people. It was the one of the best exposures to them as they bagged business opportunities and held discussions with investors,” he added.
Around 15 firms were chosen from throughout the country for contests in three categories. Four Kerala-based firms made it to the finals of two contests. The distinguished event attracted a delegation of 22 KUSM entrepreneurs from diverse areas. They had possibilities for networking and business, as well as one-on-one meetings with investors who visited the exhibition. Troncart, located in Thiruvananthapuram, was founded in 2018 by Aneez Ahamed, Pratheesh V Nair, and Aneesh Chandran and provides the FLOW metering system, a unique method for automatically calculating utility readings. Riod, situated in Angamaly, was launched in 2017 by Akhil Joy and Aneesh PK.
The company creates and produces IoT sensors, as well as the RIOD Live platform, which allows users to detect, monitor, control, and aggregate real-time data from fields. KSUM is the Kerala government’s key organisation for entrepreneurship development and incubation operations.
