Introduction
Last yr has been a yr of ups and downs, particularly as a result of COVID-19 pandemic, which hit throughout the globe. Rather a lot many robust entrepreneurs in India have dived into enterprise alternatives and examined their concepts. While a few of them have failed, others thrived like something. India helps the rise of startups as a result of it has low-cost expert labor, funding from nationwide and worldwide traders, and progress alternatives. According to Financial Express, start-up funding has reached a brand new excessive in 2023. In addition to the massive enterprise capitalists, institutional traders and pension funds are additionally investing in lots of new on-line companies. In the interval of Jan-March 2021, traders have infused round $4.4 billion into Indian startups, and this quantity is 26% greater than the investments made final yr in the identical quarter. The high gainers within the funding offers are the Fintech and Financial Services firms (123), adopted by Retail and Ecommerce firms (99) and EdTech firms (84). This reveals that startups have discovered a strategy to keep aloft even after the turbulence as a result of COVID-19 pandemic in India.
Looking on the most vital offers between firms in India, e.g., Walmart and Flipkart (having Myntra and PhonePe), it isn’t in any respect shocking to see that India is rising up as a hub of the largest startups. One 97 Communications (PayTM), Ola cabs, Dream 11, Swiggy, and Razorpay are just a few of the wealthy valued Indian startups internationally. The nation is now getting extra startup unicorns, together with firms from the sectors like Healthtech, social commerce, finance, and extra. Unicorn firms within the enterprise are these startups that worth at greater than $ 1 billion. As of April 2021, there are greater than 600 unicorns throughout the globe. According to Inc42, India obtained its 10 startups listed within the listing of Unicorns in 2023. In this weblog, we have now compiled a listing of some firms which might be amongst India’s high startups. These startups have survived extremely through the years and want to increase their attain additional.
Top Startups in India
These are the highest 25 startups in India
- CRED
- Vernacular.ai
- PharmEasy
- Digit Insurance
- Meesho
- Groww
- Nykaa
- Udaan
- Dream11
- Swiggy
- Instamojo
- PostMan
- Delhivery
- Slice
- InMobi
- Practo
- Boat
- Skyroot Aerospace
- LivSpace
- Ather
- PhonePe
- Licious
- PolicyBazaar
- Razorpay
- Paytm
Upskilling helps you land your dream job in one of many high startups!!!
Top 10 Startups in India | Founder | Headquarters |
CRED | Kunal Shah | Bangalore |
Vernacular.ai | Sourabh Gupta, Akshay Deshraj, Prateek Gupta and Manoj Sarda | Bangalore |
PharmEasy | Siddharth Shah | Mumbai |
Digit Insurance | Kamesh Goyal | Bangalore |
Meesho | Vidit Atreya, Sanjeev Barnwal | Bangalore |
Groww | Lalit Keshre | Bangalore |
Nykaa | Falguni Nayar | Mumbai |
Udaan | Vaibhav Gupta | Bangalore |
Dream11 | Harsh Jain | Mumbai |
Swiggy | Sriharsha Majety, Nandan Reddy, Rahul Jaimini | Bangalore |
Founded in 2018, CRED is a platform the place you possibly can pay your bank card payments and get rewarded for it. The platform has created a brand new mannequin the place customers get “CRED coins” once they pay their payments by the CRED app. These cash can later be redeemed for purchasing any product, getting into a contest, or becoming a member of any workshop. The startup is Bangalore based mostly and offers a variety of providers like credit score and a premium catalogue of merchandise to the shoppers. The startup believes to incentivise folks as a way to enhance their monetary behaviour.
According to TechCrunch, CRED is the youngest Indian startup to be valued at round $2.2 billion. This 2-year-old startup has greater than 6 million clients and about 22% of all bank card holders. As per the founder and CEO, Kunal Shah, the corporate is concentrating on prosperous clients and has grow to be some of the talked-about startups.
Very few firms deal with the high-end base and proceed robust progress through the years. CRED can be planning to introduce a characteristic the place CRED cash can be utilized by over a thousand retailers. The startup can be planning to personal an eCommerce retailer. It is clearly seen that the startup is planning much more than simply offering reward cash to its clients.
This startup is an AI-First SaaS enterprise aiming to grow to be the main voice automation and AI platform globally. The firm offers Speech recognition and Voice assistants as a service to the banking, Food and Beverage and Hospitality industries. Their providers have the least human interference and may deal with advanced servicing points as nicely. Founded in 2016, the corporate has raised $5.1 million in funding within the yr 2020.
As per Economic Times, Vernacular.ai is getting ready to rent 100 folks in 2021 which may strengthen its management crew. While there have been retrenchments and pay cuts within the final yr, Vernacular.ai has strengthened its workforce by 4 occasions. The firm is heading to grow to be the world’s most interesting Voice AI platform with workers having multifunctional experience. Recently, the corporate introduced the appointment of Gangadhar Kodandaram as Chief income officer (former Microsoft worker) and Ankit Jain as Vice President for product administration (An alumnus of Amazon). Their expertise and intelligence will certainly take Vernacular.ai to new heights.
As Voice and Automation are two trending applied sciences anticipated to develop massively sooner or later, Vernacular.ai can be prone to scale up its operations.
PharmEasy is a web-based pharmacy and medical retailer in India which specialises in OTC merchandise, diagnostic checks, and medical devices. The firm was based in 2015 in Mumbai, Maharashtra and has seen unimaginable progress since then. It is a web-based pharmacy with each product you may ever think about in an offline medical retailer.
During the COVID-19 pandemic, the corporate has grow to be an important service that has contributed to its progress. The rivals of PharmEasy in India are 1mg and Netmeds. This well being tech startup has raised a large $350 million, changing into the primary Epharmacy unicorn in India. The funding has been raised after the merger of PharmEasy with its rival Medlife. PharmEasy has acquired a 100 per cent stake in Medlife, and the latter obtained a 19.95% stake within the merged entity. Both the businesses have joined fingers and merged as a way to beat off the competitors from rival gamers like Netmeds (Reliance Jio), Flipkart and Amazon Pharmacy who’ve simply entered the pharmacy phase in India.
The traders of PharmEasy are those who additionally invested within the startups like Swiggy and Byju’s. The founders Dharmil Sheth and Dr Dhaval Shah have deliberate to achieve over 100,000 pharmacies within the subsequent 12 months within the new geographical markets of India.
Digit Insurance is an insurance coverage firm based in 2016 and claims to simplify insurance coverage merchandise for everybody in order that the view of insurance coverage merchandise can change amongst folks. Digital Insurance raised its first funding within the yr 2020, wherein Indian celeb couple Virat Kohli and Anushka Sharma have additionally infused their $340K.
The cause is greater than 20 lakh Indian inhabitants have purchased sickness insurance coverage in opposition to COVID-19 and different illnesses like malaria, chikungunya, dengue, and others. Digit is a Bangalore-based startup which reached its break even in 2020 due to its decrease working prices and wonderful enterprise metrics. . The Chairman, Kamesh Goyal confirmed that the corporate has managed to increase its enterprise by 30% in 2020 when the whole insurance coverage trade was struggling. Digit has bagged many awards like “ Hottest Startups in India 2019”, “Asia’s Best general Insurance Company of the Year 2019”, “Fintech 250 List” and extra. Kamesh Goyal additional ensured that the funding raised will likely be used to develop enterprise and applied sciences.
Founded in 2015 by IIT-Delhi Graduates, Meesho is the reseller platform that’s all set to grow to be the massive e-commerce distribution channel the place the homepreneurs promote merchandise by WhatsApp, Facebook, and Instagram. The firm is valued at $2.1 billion after elevating funds of $300 million.
Meesho is the ecosystem that allows small companies to carry out on the web platform. This platform has raised $490 million until date, and its traders embrace Facebook. Meesho connects sellers with the shoppers in a web-based market and provides administration of logistics, orders, and funds to the sellers. It is linked with greater than 13 million entrepreneurs in Indian cities dealing in grocery, dwelling and kitchen home equipment, attire and extra. As Indian social commerce is predicted to develop at a fee of 55%-60%, Meesho has a large potential to upscale retailing to new heights sooner or later. It is competing with the businesses like GlowRoad, Dealshare and CityMall who’re additionally getting consideration from the traders. Dealshare which was based in 2018, has raised $21 million in December 2020.
Meesho has claimed that it has made deliveries from greater than 100000 registered suppliers, producing greater than 500 Cr i.e., $68 million in earnings for the homepreneurs.
Groww is an investing platform that enables its clients to spend money on shares, ETFs, Mutual funds, IPOs and extra utilizing its platform. The platform works on each cellular functions and the net. The firm was based in 2016 by 4 ex-Flipkart workers who observed how troublesome it’s to spend money on India. This realisation made them begin Groww which has greater than 15 million customers registered until now. According to Groww, greater than 60% of the corporate belongs to smaller cities of India which have by no means invested earlier than. As per one of many founders, Lalit Keshre, Groww is used throughout India and never simply in metro cities. The customers are unfold throughout all the main cities of the nation who’re working class, younger and wish to make investments their hard-earned cash.
The firm raised $83 million in 2021 and entered into the Unicorn membership. This firm is wanting ahead to investing this quantity in new merchandise, recruiting new expertise, and constructing training platforms for traders.
Nykaa is a web-based magnificence retailer and a vogue e-commerce platform that was based in 2012. The firm provides wellness and sweetness merchandise to clients at cheap costs. It is fascinating to know that it raised $25 million in March 2020 and is now valued at $1.2 billion. The firm’s traders embrace Bollywood celebrities like Alia Bhatt and Katrina Kaif.
Falguni Nayar, the platform founder and a former funding banker, has visioned to create a platform with hundreds of product choices. Now, the corporate has greater than 55 retail shops and fulfils round 1.5 million orders each month. Nykaa has greater than 5 million month-to-month lively customers and offers with greater than 500 manufacturers by its web site and the shops. The firm has additionally began its new enterprise Nykaa Fashion which provides attire and equipment. It has launched its personal personal label for intimate put on named Nykd. According to RedSeer Consulting’s report, India’s on-line magnificence market is predicted to develop at a CAGR of 9%. This is a chance for Nykaa to develop extra within the Indian market and increase its enterprise. The firm is in a run-up of IPO by 2022 and is predicted to boost $3.5 billion within the public market.
A tech-based startup that gives B2B e-commerce options was based in 2016. Started by the previous executives of Flipkart, Sujeet Kumar, Vaibhav Gupta and Amod Malviya, the corporate has gained a community of greater than 3 million customers in 900 cities. It helps in connecting greater than 25000 sellers in India. The firm has signed up hundreds of manufacturers which additionally consists of Boat Lifestyle, PepsiCo, LG, ITC, and plenty of different large names. In 2018 and within the shortest time period, the corporate has gained a unicorn standing. Recently, Udaan has raised $280 million from its present and new traders. The firm has raised total $1.15 billion as of now and has a worth of over $3.1 billion.
As per the Co-founder of Udaan, the pandemic COVID-19 has fast-tracked the expansion of the digital-led evolution of the unorganised Indian commerce retail trade. This is a chance for Udaan to stay within the main place of e-commerce platforms within the nation.
As per Entracker, Udaan is attempting to penetrate into B2C markets by a brand new app referred to as Pickily. The app is reside on the Google Play Store providing the FMCG merchandise throughout completely different places in Bangalore. With this enterprise, the corporate will have the ability to compete with the businesses in the identical phase as Big Basket, Swiggy Stores, Flipkart and extra.
Founded in 2008, DREAM 11 is a web-based fantasy sports activities platform that now has greater than 10 crore customers in India. Based in Mumbai, Maharashtra, the corporate was based by two younger cofounders, Harsh Jain and Bhavit Sheth. DREAM 11 has raised $400 million simply earlier than the graduation of IPL 2021. One of the traders is TCV which has additionally backed the giants like Airbnb and Netflix. DREAM 11 can be India’s first Unicorn start-up as the corporate’s valuation is now escalated to $5 billion. The firm has grown at a CAGR of 230 per cent within the final 3 years.
Dream 11 is the primary and main fantasy gaming platform in India. It has attracted a number of younger customers who’re loopy about video games. It took three years for the corporate to hit the mark of 1 million customers and put up that it crossed 3 million mark in lower than 2 months. The firm had round 75 million customers earlier than pandemic COVID-19 began in India and now reached 100 million customers. As per the stories of Deloitte, the fantasy Sports in India has grown by practically 200% that could be a catalyst for the expansion of the corporate.
Who doesn’t know Swiggy? Imagine you might be engaged on a Monday and longing for a cheesecake put up lunch. Swiggy has made that simple so that you can satiate your cravings even whereas sitting at dwelling. The largest meals supply platform in India, Swiggy is serving in 27 cities and has partnered with greater than 40,000 eating places. Headquartered in Bangalore, the corporate has lately raised funding of $800 million and is now valued at practically $5 billion.
The firm’s goal market has additionally grown to 50 million over the interval, which is sort of a lifetime alternative for Swiggy. The meals supply providers began simply with 5 supply boys and 25 restaurant companions in 2014 when Zomato was already there out there. However, in lower than 4 years, the corporate obtained itself within the unicorn class of startups and is giving robust competitors to Zomato. The firm’s success is constructed on its splendid buyer expertise worth chain.
The firm has all the time been customer-obsessed, which makes it stand out amongst different startups. When different meals supply startups like TinyOwl and FoodPanda have been struggling, Swiggy made its method by standing out from the remainder of the group. That is why it is likely one of the most profitable startups in India.
As the “simplest payment solution,” Instamojo has diminished entrance hurdles, resembling technical experience and upfront bills, and has given small enterprises entry to distribution channels on the internet and cellular by numerous up-selling and cross-selling e-commerce instruments and options.
PostMan is an API platform for creating and utilising APIs and that can assist you design higher APIs sooner, Postman improves collaboration and simplifies each stage of the API lifecycle.
Delhivery is a provide chain administration agency based by Bhavesh Manglani and a crew that focuses on transportation, warehousing, freight, and order fulfilment.
Slice is a FIntech startup backed by Tiger Global Management, Moore Strategic Ventures, Insight Partners, and GMO EnterprisePartners which has contributed $50 million in a Series C spherical of funding. The enterprise claimed that it’ll utilise the funding to help the expansion of its new UPI product line. Slice has to this point raised a complete of $270 million in funding.
InMobi turned the primary unicorn startup agency in India in 2011. It has 22 places of work unfold throughout 12 nations and 5 continents, with about 1,500 people working there. Soft Bank, Kleiner Perkins Caufield & Byers, and Ram Shriram’s Sherpalo Ventures are the corporate’s backers. The Native Ads platform from InMobi allows cellular publishers and app builders to supply their finish clients a fascinating, in-context native advert expertise.
Practo is a well being tech startup based in 2008 by Abhinav Lal. This healthcare startup helps shoppers to seek out the perfect docs, e-book on the spot appointments, and make higher well being choices.
The boat is an Indian Startup based by Aman Gupta in 2016. This Indian agency has been profitable in attracting purchasers with its trendy and reasonably priced digital items.
Skyroot Aerospace is India’s first personal house launch startup fashioned in July 2018 by former Indian Space Research Organisation scientists Pawan Kumar Chandana, and Naga Bharath Daka. This startup offers a industrial launch service and is already serving to in constructing the Vikram sequence of rockets to hold small satellites into house.
LivSpace is an inside design startup based in 2014 by Anuj Srivastava Ramakant Sharma. This is the fifth unicorn startup in India which provides restoration and inside design providers in India.
With its headquarters in Bangalore, Ather Energy is an Indian producer of electrical autos. In 2013, Tarun Mehta and Swapnil Jain began it. According to stories, Ather Energy, which has efficiently bought 3677 items, is the fourth-best-selling two-wheeler EV in India within the first half of 2021.
PhonePe is a well-liked digital funds and monetary providers platform in India. It was launched in 2016 and is now one of many main cellular fee apps in India. PhonePe permits customers to switch cash, pay payments, recharge cellphones, purchase insurance coverage and spend money on mutual funds, amongst different monetary providers. The app makes use of Unified Payments Interface (UPI) know-how to allow transactions between financial institution accounts. PhonePe additionally provides a variety of cashback provides and reductions to its customers on numerous transactions. The app is out there for obtain on each iOS and Android platforms.
Licious is a meals tech firm that operates a web-based meat and seafood supply platform in India. Founded in 2015, Licious permits clients to order recent and hygienic meat and seafood merchandise by its cellular app or web site. The firm sources its merchandise instantly from farmers and fishermen, and makes use of a mix of know-how and knowledgeable high quality checks to make sure that the merchandise are of top quality and secure for consumption. Licious provides a variety of merchandise, together with rooster, mutton, seafood, and ready-to-cook merchandise, and offers handy supply choices to clients throughout main cities in India. The firm has additionally applied strict hygiene and security protocols to make sure that its merchandise are dealt with and delivered safely, particularly through the COVID-19 pandemic.
Policybazaar is an Indian on-line insurance coverage aggregator and monetary know-how firm. Founded in 2008, the corporate provides a digital platform that allows clients to match and buy insurance coverage insurance policies throughout numerous classes, together with well being, life, motor, journey, and residential insurance coverage. Policybazaar companions with main insurance coverage firms in India to supply clients a variety of insurance coverage merchandise with aggressive pricing and options. The firm’s platform makes use of knowledge analytics and synthetic intelligence to supply personalised insurance coverage suggestions to clients based mostly on their particular person wants and preferences. Policybazaar has additionally expanded its providers to incorporate loans and bank cards, and provides clients the choice to use for these monetary merchandise by its platform. The firm has been acknowledged for its revolutionary enterprise mannequin and has received a number of awards for its contribution to the Indian fintech trade.
Razorpay is an Indian fee gateway firm that gives fee options to companies and organizations of varied sizes. Founded in 2014, Razorpay allows companies to simply accept and handle on-line funds by its platform. The firm provides a variety of fee providers together with fee gateway, subscription billing, fee hyperlinks, and sensible gather. Razorpay additionally offers a collection of developer-friendly APIs and SDKs that allow companies to customise and combine fee options into their web sites and cellular apps. The firm makes use of a safe and dependable platform that complies with the most recent trade requirements and rules to make sure that all transactions are secure and safe. Razorpay serves a variety of industries together with e-commerce, healthcare, training, and hospitality, and has obtained a number of awards for its innovation and contribution to the Indian fintech trade.
Paytm is an Indian monetary know-how firm that gives a variety of digital fee and monetary providers to its clients. Founded in 2010, the corporate initially began as a cellular pockets service and has since expanded to grow to be a one-stop answer for numerous monetary wants. Paytm provides providers like cellular recharges, invoice funds, ticket reserving, cash switch, and on-line procuring by its platform. The firm has additionally launched Paytm Payments Bank, a digital financial institution that gives banking providers resembling financial savings account, debit card, and cellular banking to its clients. Paytm has a large community of service provider companions and offers a unified fee answer that allows clients to pay for services and products at numerous retailers utilizing their Paytm pockets or different fee strategies. The firm has applied numerous safety measures to make sure that all transactions on its platform are safe and secure. Paytm has emerged as one of many main gamers within the Indian digital funds house, and has received a number of awards for its revolutionary enterprise mannequin and contribution to the fintech trade.
Top Startups in India FAQS
Conclusion
This listing can go on as quite a few startups in India are doing very nicely of their industries. To identify just a few, Flipkart, Big basket, Ola cabs, FirstCry, and CureFit are the names that want no introduction. The emergence of those startups is pushed by the brand new power within the international economic system, tens of millions of latest clients, a brand new worldwide presence of India and training.
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