According to recent data, the number of funding rounds in tier-2 cities reached 710 in 2022, and there have already been 142 funding rounds in tier-2 cities and 15 in tier-3 cities in the current year, indicating a growing interest from investors. While major hubs like Bangalore, DelhiNCR, and Mumbai have traditionally led the way in job creation and technological advancements, venture capital funds are now recognizing the potential of these emerging startup ecosystems. Tier-2 cities have witnessed startups raising around $785.8 million in funding in 2023 YTD, and in 2022, the total funding in tier-3 cities crossed the milestone of $1 billion for the first time, reaching $1.6 billion. Our Bharat 2.0 issue, the very first among our newest IPs aims to answer how tier-2 and tier-3 cities will play a crucial role in driving India's startup growth and economic development in the years to come. While shortlising the companies for this edition we looked at the untapped potential and the rise of regional innovation hubs across the country.
ANURAG JAIN, CO-FOUNDER & AMIT JAIN,
CEO AND CO FOUNDER, CARDEKHO
CARDEKHO: BUILT WITH PRECISION
Our love for cars led me and my brother Anurag Jain to the Auto Expo in 2008, where we were surprised by the limited product information available. This experience and a gap inspired us to establish the CarDekho Group, which has evolved into a conglomerate of thriving companies in various verticals,” said Amit Jain, CEO and co founder,
CarDekho To have a successful business, one does not have to start in cities like Bangalore, Delhi, etc. It’s the founders and their intent that run the business. The journey began in 2008 with the establishment of an online car review portal in Jaipur, Rajasthan. Over time, the group transformed into a comprehensive platform that offers a range of auto and nonauto solutions.
This story is from the June-July 2023 edition of Entrepreneur magazine.
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This story is from the June-July 2023 edition of Entrepreneur magazine.
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