Top five businesses supporting the government’s aim of “Digital India”
The importance of digital infrastructure has been reinforced by the Covid-19 outbreak, and the Indian government has appropriately taken steps to unite the country under its “Digital India” programme. India Inc. has undoubtedly made progress toward using technology to tell a compelling tale. As 2022 draws to a close, the Indian government has continued to advance its strategy across businesses with the newly released Digital Data Protection Bill, 2022.
1. SmartCoin Financials –SmartCoin Financials is India’s first fully-automated next-gen Fintech company aiming to address the credit requirements of innumerous self-employed micro-entrepreneurs, micro-merchants and middle/lower-income salaried individuals by leveraging advanced data science and Machine Language algorithms. The platform intends to serve the hitherto under-served customers through a comprehensive digital interface across India.
2. SOCLY.io –SOCLY.io is the fastest-growing SaaS platform that aims to provide SMEs and startups with global accreditations and attestations like ISO 27001, SOC2, and GDPR. Incorporated in 2021 by Manoj Kumar Shastrula (Founder & CEO) and Abishek Janardhan (Co-founder & CTO), Siddipet-based SOCLY.io has an extensive presence in India and the US. SaaS companies leverage the SOCLY.io platform to keep their company, solutions, and annual audits compliant 24/7. With the power of integrations and automation, the platform enables their clients to become compliant with data regulations in 80% less time and costs.
3. TeamLease RegTech –TeamLease RegTech is India’s leading regulatory technology company helping corporate India stay on the right side of the law. It enables a transparent, timely, and accountable compliance program for over 1500 entities across 45 industries in India. Co-founded by Sandeep Agrawal & Rishi Agrawal, TeamLease RegTech has developed a multi-tenant SAAS solution on the web and mobile platforms with smart analytics to help corporate India comply.
Rishi Agrawal co-authored a report Jailed for doing business. This monograph by the Observer Research Foundation and TeamLease RegTech presents a deep dive into ingrained criminality and jail term in India’s employer compliance. This report is being leveraged by Policy Makers in India to reduce criminality as a tool of control.
Recently, a solution developed by TeamLease RegTech was launched by SEBI Chairperson Madhabi Puri Buch. This initiative with FICCI (Federation of Indian Chambers of Commerce & Industry) is a milestone event towards paperless, cash-less, and presence-less compliance.
4. Scrut Automation- Scrut Automation is a risk observability and compliance automation platform built to simplify information security monitoring for cloud-native companies. The company helps early-stage and growth-stage companies across the globe, establish enterprise-grade information security processes through an easy-to-use GRC platform. Incorporated in 2021 and headquartered in Bangalore, Aayush Ghosh Choudhury, Kush Kaushik, and Jayesh Gadewar are the brains behind Scrut Automation. Scrut Automation offers customers a notable 5X faster and more convenient roadway for information security and supports them with compliance with over 20 significant industry standards like SOC 2, GDPR, ISO 27001, PCI DSS, CCPA, HIPAA, etc. Customers remain assured that Scrut Automation can effectively integrate with their cloud infrastructure and application landscape to monitor their information security and compliance posture continuously. The platform helps users to build policies as per best-in-class practices, enable approval workflows, automate risk assessment and management, monitor their controls in real time, conduct employee information security training, and demonstrate compliance to customers, all through a single window.
5. CheQ –CheQ is a pre-product startup, the newest & noisiest on the block. It helps customers understand, manage and leverage credit in ways that augment their lifestyle choices. And while doing that, make the experience fun and rewarding. Founded by Aditya Soni, CheQ has raised one of the biggest seed funding of $10Mn led by marquee investors like Venture Highway, 3one4 Capital, Multiply Ventures, Marshot Ventures and Veda VC. It is also backed by angel investors like Naveen Kukreja (Co-Founder & CEO, PaisaBazaar), and ShailazNag (Founder of DotPe) among others.