Evolving Sectors in Tier II & III Cities

The sudden wave of digitalization and penetration of Internet has widely revolutionized the startup sector and led to the mushrooming of young ventures in various sectors like, agritech, healthtech, edtech, socialtech, and ruraltech as well as SaaS and AI based startup.

The Surat based SaaS startup DhiWise founded by Vishal Virani and Rahul Shingala has developed a programming platform and design code for mobile and web applications.

IIT Bombay Graduate Mubeen Masudi, who hails from Srinagar wanted to motivate the young generation towards learning. Instead of looking for a high salaried job in metro cities, he chose to go back to his hometown to start edtech platform known as ‘Rise’, which offers various courses and mentorship for Kashmiri students to improve their chances of getting into prestigious educational institutions in India and abroad.

The Fintech startup turned unicorn, RazorPay, which is quite famous in the world of financial transaction, started their journey from Jaipur by Shashank Kumar and Harshil Mathur. Their expertise have streamlined online payments and earned a lot of accolades.

Another Startup AgroHub, which is also based in Jaipur aims to improve the lives of the farmers of Rajasthan by connecting them with modern technology. By their innovative solutions, farmers from remote villages have access to real time information, market trends, and expert advice of the agricultural scientists.

Another successful agritech startup from Patna, named DeHaat provides end-to-end agricultural support to the farmers through their technology based platform.

In view of the above, we can conclude saying that, the tremendous upsurge of the startups is attributed to a couple of factors in which digital connectivity rules on the top. As we are heading towards a new day, technology is evolving at its fastest pace.

The report of Boston Consulting Group, unveiled that, 54% of online shoppers in India will hail from rural areas by 2030, and they will account for 24% of online retail spending. The investors are very much hopeful about the startups from Tier II & III cities.

A lion’s share of the notable investors believe that, lending infrastructure, cold chain logistics, healthcare, agritech, drone technology, rural logistics, and social tech areas will witness smashing growth in small towns in upcoming days.