Intuit Honors India’s ‘Super Startups’ on Super Angels
Exotel, Droid Cloud and Staff on Contract Receive Funding Worth Four Crores
Bangalore, India | 12 April 2012
Three promising Indian startups won mega funding worth four crores on the grand finale of the Super Angels sponsored by Intuit Inc. (Nasdaq: INTU) on ET NOW.
Exotel received the highest funding – Rs. 2.5 crores from venture capitalist Karthik Reddy, Cofounder of Angel Fund. Two other finalists, Droid Cloud and Staff on Contract received funding worth one crore and 50 lakhs respectively from venture capitalist Vijay Shekhar Sharma, Chairman and Managing Director of One97 Communications and Vishal Gondal, Founder of Indiagames.
Exotel a Bangalore-based startup received the highest funding for its cloud based business phone system that makes it easy to run a business on voice & SMS. It is a mobile number built for running a company. Droid Cloud, now rebranded as App Surfer, attracted investors for its platform that lets users access apps from anywhere and from any platform. Staff on Contract received funding for its employment portal, an alternative staffing channel that enables companies to address their challenges of permanent hiring.
Speaking at the Super Angels grand finale Nikhil Arora, Vice president and Managing Director of Intuit India said “At Intuit, we drive this culture of entrepreneurship within the company and we also realize it is necessary to collaborate externally and encourage the growing class of entrepreneurs, startups and small businesses. In our quest to promote and develop engagements with the startup community in India, an initiative such as Super Angels is a fantastic platform that recognizes and rewards innovation.”
Staged against the backdrop of the Bombay Stock Exchange, the grand finale also featured other participating startups, including Live Inbox and Unbxd and venture capitalist Mahesh Murthy, Managing Partner of Seed Fund, and Sanjay Parthasarthy, an entrepreneur and angel investor also participated.
Lakshman Gugulothu, Chief Executive Officer of the newly launched BSE–SME Exchange, said “A dedicated exchange for SMEs has been a long-standing need for the SMB and entrepreneur communities in India. With the BSE–SME Exchange, we are looking at an integrated approach of nurturing and handholding SMB’s towards growth and expansion. Additionally, the SME exchange will also facilitate investors to identify and invest in potential SMEs at their early stage.”
Intuit in India
The company’s first venture in Asia Pacific, Intuit has been in India since 2005, currently employing more than 550 employees across offices in Bangalore and Mumbai. The company has been recognized as an employer of choice in India: as the 6th Best Employer in India, among the Top 25 Best Employers in Asia and among the Top 50 Great Places to Work in India. More information can be found at www.intuit.in
About Intuit Inc.
Intuit Inc. is a leading provider of business and financial management solutions for small and mid–sized businesses; financial institutions, including banks and credit unions; consumers and accounting professionals. Its flagship products and services, including QuickBooks®, Quicken® and TurboTax®, simplify small business management and payroll processing, personal finance, and tax preparation and filing. ProSeries® and Lacerte® are Intuit’s leading tax preparation offerings for professional accountants. Intuit Financial Services helps banks and credit unions grow by providing on–demand solutions and services that make it easier for consumers and businesses to manage their money.
Founded in 1983, Intuit had annual revenue of $3.9 billion in its fiscal year 2011. The company has approximately 8,000 employees with major offices in the United States, Canada, the United Kingdom, India and other locations. More information can be found at www.intuit.com.
For more information, please contact
Samantha Unnikrishnan +91 80 41769750
Intuit India | Global Business Division
Prasad Karat: +91 9632 948240
The PRactice Strategic Communications