Singapore/Chennai Mar 23:

Crayon Data wins the Mint Startup Icon Awards in the category ‘SaaS’. This award upholds our vision of simplifying the world’s choices by unlocking the power of data.  

The second edition of Mint Startup ICON Awards 2023 was an opportunity for start-ups to augment their brand share amongst the investor community. Hosted in New Delhi’s Taj Palace, the event witnessed distinguished speakers from the corporate and investor community in India. To name a few leaders, Sanjeev Bikhchandani, Founder, InfoEdge; Nupur Garg, Founder, WinPE; Bhawna Agarwal, Country Head, HP Enterprise; Akash Saxenaa, VP, Samsung India Electronics; Aparajita Puri, Partner, McKinsey and more.  

The evaluation process was presided by an expert jury panel with Nupur Garg, founder, WinPE; Jai Rupani, CIO, Dinesh Hinduja Family Office; Shanti Mohan, Founder, LetsVenture; Kunal Bahl, Co-founder, Snapdeal; Satish Chander, Partner, True North; and Shivani Bhasin Sachdeva, Founder & CEO, India Alternatives.  

Over 200 nominations were submitted with 15 winners across categories which included Zenwork Digital, Shapos Services, Physics Wallah, BluSmart Mobility, Noise and more. The selection criteria for each stage included metrics for valuation, customer, revenue, key investors, founding board, business scalability, market size and profitability.

Mint ICON awards 2022 also witnessed marquee winners from Chargebee, Zerodha, Ninjacart, Swiggy and Meesho. To be recognized amongst such key players, is an important milestone for Crayon Data’s growth in India.   

India ranks third in the start-up ecosystem and unicorn community. Despite slow funding, India produced 21 new Unicorns in 2022, 3X more than China, the world’s second-largest start-up ecosystem. In the period from 2015 to 2022, there has been a 15X increase in the total funding of start-ups (almost double).  

Right at the outset in 2013, Crayon set up its development center in Chennai, Tamil Nadu. Many key services and functions are based in India, including business operations (finance, IT, operations, legal), product and engineering (platform services, platform engineering, dev ops, data science, AI/ML research), sales operations, marketing and human resources.

This award stands as a testament to the company’s business model. Capital Efficiency has been our inherent philosophy since inception. The company’s model over the last five years is built in a way that “wins in the real world.” Instead of chasing vanity metrics like valuations, Crayon believes in a model of sustainability, profitability, and capital efficiency. 

We also extend our heartiest congratulations to the fellow nominees and winners at the Mint Startup ICON Awards 2023.