Many sub-unicorn Indian startups are finding niche global markets

As far as offbeat business destinations go, Lithuania is as distant as it gets for entrepreneurs running startups in India. But for Arvind Lakshmikumar, CEO and founder of Tonbo Imaging, the capital of the Baltic nation, Vilnius, is the key to the firm’s fortunes. The Bengaluru-based developer of imaging and sensing systems is banking on the cache of laser experts in the first state of the erstwhile USSR to declare independence.

Founded around three years ago, Locus started with a handful of Indian clients. But it has its eyes firmly set on the prize — overseas business. “Supply chain is a global problem. But we need to provide local solutions to show value to customers,” says Rastogi. With a 10-member data-science team, Locus wants to expand its focus from India to Southeast Asia. The company has six cities — Manila, Jakarta, Bangkok, Kuala Lumpur, Singapore and Ho Chi Minh City — on its radar. These cities are around an hour’s flight from each other, making it easier for a small sales team to cover. Moreover, these cities have twice the active (those who pay for stuff online, not just surf ) internet population of India. “We don’t want to tell people where their delivery tru .. 

Cooey Technologies Focus: Personalised healthcare tech Funded by: Bootstrapping Currently: Sells its software mainly in the US Global gameplan: To sell its software in emerging and developed markets.

“The main hurdle these Indian firms face is explaining their USP (unique selling proposition) to clients,” says Anindya Ghose, professor, New York University’s Stern School of Business. “Take Grey Orange, for example. The space it is competing in (advanced robotics systems for automation at warehouses, distribution and fulfilment centres) is getting crowded.” Look at Grey Orange’s competitors — Kiva Systems, which was acquired by Amazon Robotics; Boston Dynamics, which was acquired by Google; Fe ..