Every great venture starts with humble beginnings. We are familiar with the story of how Facebook and Apple brought revolutionary ideas to life and made it big into the world. Today, entrepreneurs are ready more than ever before to take risks and share their ideas with people through innovative startup ventures. With the advent of app-based solutions and rapidly evolving use of technology, many young graduates dream to make a name for themselves by offering better and more efficient solutions to the customers.
The startup culture is paving the way for hundreds of new ventures daily. We have shortlisted a few impressive startups which are exceeding all expectations for 2020 and promising us a bright future.
InVideo | Industry: Social media and digital marketing
This is an online editor tool that allows users to curate creative video-based content for Facebook and YouTube platforms. The web-based solution is very easy to use and self-explanatory, allowing even first-time or novice editors to create professional-looking videos within minutes. At a monthly subscription cost of only $10, one can unlock some premium features and get access to millions of stock footage to enhance the video-making experience. All this makes the tool the most popular YouTube video editor online.
Labster | Industry: EdTech
Labster is an EdTech startup that provides web-based solutions for high school students. Their platform provides ‘Virtual Science Labs’ to students all around the world, who, for some reason, do not have access or financial resources to study under a physical science laboratory setup. Complicated concepts of biology and chemistry are simplified through gamified storytelling & presented to the students in an interesting format. Students can also perform experiments and use trial & error to stimulate discovery within the virtual lab space. The venture started-off with an investment of $34.2M and has managed to touch the lives of over 3 million students worldwide.
Spacemaker | Industry: Construction
Spacemaker aims to build sustainable cities and communities by providing the ‘construction businesses’ an AI platform to focus on delivering high-quality living solutions. The company is trying to reduce timeframes in the decision-making process by making available research-based data to architects, real-estate developers, and other stakeholders. By using Spacemaker, clients can evaluate multiple development sites and study the opportunities or risks associated with each site. The digital workflow ensures seamless collaboration between all project parties by providing a chance for discussions and feedback based on the 3D model ‘building’ structures. An initial investment of $25M was funded by Atomico, and we can already see some positive results & changed mindsets in the way sustainable development is progressing.
Calm | Industry: Wellness
As the name suggests, Calm is an app dedicated to deal with issues such as insomnia, anxiety, and stress. As per WHO, 1 in 13 people suffer from anxiety, and about 40 million Americans have to deal with chronic Insomnia every single day. People turn to technology to find a suitable solution to these mental health problems. The app can be used for practicing guided meditation, listening to soothing music, learning simple stretches, and even attending masterclasses with subject experts. With over 50 million downloads, Calm has been honoured with a spot at the ‘Apple BEST OF 2018’ and Google Play Editor’s Choice 2018 awards. As of today, the App is valued at $2.2 billion and is planning to raise an investment of $150 million.
Porch Services | Industry: Home services
Porch launched its operations in 2013 to address the problem of homeowners to reach out to reliable home improvement professionals. Until now, people mostly relied on neighbors and friends to recommend a good technician to urgently attend to their leaking washbasins. Porch provides a handy platform to connect with experienced plumbers, electricians, maids, & carpenters in and around your area. You can easily check the reviews, pricing, service quality of the freelance technicians before booking them via the app. The app not only caters to B2C customers but also large utility companies and 8000+ small businesses. Porch was funded by Antler with an initial capital of $464.6K.
Standard Cognition | Industry: Retail
This might look like the perfect solution we all need at the moment where social distancing is the new norm. Standard Cognition provides AI-powered solutions to shopping at brick and mortar stores. If the consumer visits any of the Standard Cognition partner stores, they can simply walk into the store, grab what they want, and leave without waiting in long queues to pay the bill. The app keeps track of the purchases made by you at the store and bills you accordingly. Five stores across Japan and the U.S. offer this futuristic shopping experience, and many more are in the pipeline.
Tego | Industry: Supply chain
Tego basically provides supply chain intelligence using the power of the Industrial Internet of Things (IIoT). Every time a consignment is set out for delivery, it is embedded with high-memory radio-frequency chips & tags, which enable the sender to track the exact location of the assets. This reduces the human intervention and chances for error in tracing the consignment. Also, the labor cost comes down, as manpower is replaced by sophisticated software & hardware devices. The chances of misplacement or loss of consignment in transit are zeroed down, thereby increasing efficiency in the system with real-time information. Funding of €2 million was made by investor Cherry Ventures to give wings to this unique idea.
The above compilation is just a preview to give our readers an idea of the different kinds of high-growth startups that are sprouting and making a difference in their own way. We can clearly see the dynamism of these startups and their potential to close the missing loops as an Ad maker tool, an AI-based smart shopping enabler, or even a home service solution provider. There are numerous innovative startups that could be included in the above list, and we are sure that the trend will continue with the advent of IoT and AI technologies.