STARTUPS IN ODISHA
Odisha has been one of the leading states to fuel innovative ideas by budding entrepreneurs. Our state generated nearly 10,000 employment opportunities with 1,319 startups in the state. Additionally, 400 startups have commercialized. So there is no doubt that a large wave of startups has arrived in the state.
Odisha today supports these ventures with encouragement from every direction possible. We’ve been successful in enabling the growth of the startup culture as there is institutional support from the Departments of Health and Family Welfare, Information Technology, School and Mass Education and Science and Technology, among others which have given startups the push they need to thrive in changing environments.
The ICT Policy of 2014 allows setting up a special purpose vehicle with OCAC for administering Venture Capital Fund for IT/ITES/ESDM startup companies and Incubation Centers for the startups in the state.
As the startup culture grows by Odia’s, Odia Samaj is fully dedicated to supporting the rapidly growing community of entrepreneurs. It is our responsibility, as a community, to develop together, especially when there is a powerhouse of potential success in our very own state.
Examples of Successful Startups of Odisha
1. OfBusiness
Led by Visionary Asish Mohapatra, OfBusiness is a new-age b2b commerce and fintech startup that provides smart financing and procurement to small/medium enterprises through its tech-enabled platform. OfBusiness aims to help SMEs with unsecured credit limits that they can use to procure raw materials of various sorts that will help them grow in their industry.
OfBusiness has seen tremendous growth over the years. After its incorporation in 2015, the company has been constantly achieving new heights of success each year. Recently, in its Series G funding phase OfBusiness has raised a whopping $325 million at a valuation of $5 Billion!
2. FarEye
FarEye is an intelligent Delivery platform that gives at-home delivery a competitive edge. Many retail, e-commerce and third-party logistics companies use FarEye's unique orchestration, real-time visibility and exquisite customer experience to simplify complex last-mile delivery logistics. Founded by Gautam Kumar, who hails from Odisha, the company has acquired 150+ customers across 30 countries and has raised $100 million in its series E funding.
3. Nestaway
Nestaway is one of India's fastest growing "managed homes" companies that provide rental solutions via design and technology. With a powered ecosystem, Nestaway provides higher rental incomes to owners, beautiful houses and PG rentals to Indian youth and hassle-free onboarding & services to both homeowners and tenants. The startup is helmed by CEO Amarendra Sahu and has raised $4.9 million in its series D funding phase.