Kerala’s startup ecosystem booms: 10 innovative startups to watch in 2024

The year also saw the growth of deep tech startups in the state. TNIE looks at 10 startups that did well in 2024.
Kerala’s startup ecosystem booms: 10 innovative startups to watch in 2024
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3 min read

KOCHI: Last year, Kerala’s startup ecosystem grew five times more than the global average and was valued at $1.7 billion.

The state topped the Global Startup Ecosystem Report (GSER) list in 2024, above Telangana, Tamil Nadu and Karnataka. This rapid growth has made the state a major player in the global entrepreneurial innovation space.

The year also saw the growth of deep tech startups in the state. TNIE looks at 10 startups that did well in 2024.

Netrasemi Pvt Ltd

Founded in: 2020

Founders: Jyothis Indirabhai, Sreejith Varma and Deepa Geetha

Based in: Thiruvananthapuram

Funding: Raised funds of Rs 10 crore

Milestones achieved: Rs 40 crore grant funding from GOI

About: Netrasemi is a semiconductor company that builds system-on-chips (SOC) for optimal computing in smart IoT products. The company has a power-efficient, deep-neural AI acceleration core (NPU) and real-time edge-AI computing for IoT solutions. The flexible application programming interfaces, software development kits and application reference designs provide cost-effective and power-efficient advanced AI chipsets.

ENTRI Software Pvt Ltd

Founded: 2017

Founders: Mohammed Hisamuddin, Rahul Ramesh

Funding:  $13.64 million across 5 funding rounds

Milestones: Billionaire Ram Shriram announced a venture round of funding

About: Entri.app is a Kochi-brewed vernacular learning platform that aims to help people land their dream jobs by providing the right skill set and expert guidance at an affordable cost. It is now one of the most sought-after vernacular learning apps in the country.

Inntot Technologies

Founded: 2014

Founders: Rajith Nair, Prasanth Padmalayam Thankappan and Francis Antony

Based in: Kochi Infopark

Funding: total funding $5,35,000 in 4 rounds

Milestones achieved: 1 million car deployments

Inntot Technologies provides software-defined radio and in-cabin audio technology solutions for both AM and FM bands with all complex operations including Demodulation and Channel decoding performed in the software. Inntot is also working towards developing Audio processing components to enhance and enrich the user experience in vehicles.

Growcoms Pvt Ltd

Founded: 2020

Founders: George Kurian, Bibin Mathews and Narendranath P

Funding: $3.5 million from JSW and Arali

Milestones: Fast-growing agritech company from Kerala

About: The agritech startup facilitates market linkages through technology and apt services for farmers, manufacturers, and food companies.  

Sascan

Founded: 2015

Founder: Dr Subhash Narayanan

Funding: Rs 16 crore from Singapore Health Company

Milestone: MSME ICON Award

About: The primary objective of the company is to develop affordable healthcare products and solutions for cancer care, based on biophotonics and allied technologies. The focus is to make the products available through sustainable business models. Its first product was a hand-held screening camera for screening and early detection of oral cancer.

Green worms

Founded: 2014

Founders: Jabir Karat and Akshay Gunteti

Funding: Rs 25 crore raised

Milestones: FICCI Circular Economy Awards 2024 in Evolved category (2nd runner up). Recipient of the DBS Foundation Business for Impact Grant

About: Green Worms was founded on three key principles — minimise the waste generation, divert the waste from landfills and oceans, and dignify people working with waste.

ClusterDev Technologies

Founded: 2017

Founders: Ajnas K T and Arjun Sunil

Funding: Bootstrapped

Milestones: First company from Kerala to achieve 100 million downloads

About: ClusterDev builds software products that scale to millions of users. It started with the Malayalam version. Now the company has apps that help users type in all major native languages in India. WhatsApp Sticker Store and Sticker Maker is an app that helps users across the globe to create and download stickers for WhatsApp. 600k new stickers are created every day by the users.

Rosh.Ai

Founded: 2021

Founders: Roshy John and Rajaram Moorthy

Funding: Raised Rs 10 crore

Milestones: Raised $1 million in a seed funding round in 2024

About: RoshAi is driving innovation and progress in the autonomous vehicle industry through advanced Autonomy Software and solutions. With over a decade of research, it aims to accelerate innovation by offering Vehicle Agnostic Autonomy Stack, retrofittable drive-by-wire kits, and Robotic Soft Targets for ADAS & Autonomy track testing.

EYEROV Technologies Pvt Ltd

Founded: 2016

Founders: Johns T Mathai and Kannappa Palaniappan P

Funding: Raised Rs 10 crore fund

Milestones: Fastest-growing underwater drone

About: EyeROV is a fast-growing marine robotics company providing products and solutions in the field of the underwater domain. EyeROV has built indigenous underwater drones and has been supplied to various defence and research organisations. EyeROV also provides Underwater ROV Inspection services to dams, bridges, oil & gas, ports, and shipping industries.

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