Top 25 Best Startups In India For You | Business Investments

Startups In India

Startup In India is a topic that not only business investors, but also startups and customers concern about when thinking about India. This post provides you with information about top 25 best startups in India that is necessary for you to conducts for investments or martket analysis. Continue to reading!

Startups In India Introduction 

India has the third-largest startup ecosystem after the US and China with over 61,000 firms as of January 2022. Startup India, a government program, promotes startup culture and entrepreneurship.

Thus, India’s startup ecosystem has become a major growth engine in recent years and seeks to become a worldwide tech powerhouse. Indian businesses are thriving, offering young people jobs and experience in their industries. Indian firms like Flipkart, Ola, and Zomato are well-known.

Startups offer a unique chance to develop skills and flourish in a career from the start. Beginner-level training programs help, but advanced courses like data science or cloud computing can increase your career prospects since professional-level skills is valued in any field.

Startups In India Introduction 

The global COVID-19 pandemic made last year a rollercoaster. Strong Indian entrepreneurs have tested their business ideas. Some failed, but others succeeded. Startups thrive in India due to cheap skilled labor, investor funding, and growth opportunities. In 2023, Financial Express reported record startup funding.

Institutional investors and pension funds are investing in many new online businesses alongside huge venture capitalists. In January–March 2021, investors invested $4.4 billion in Indian startups, 26% more than in the same quarter last year. Fintech and Financial Services companies (123), Retail and Ecommerce (99), and EdTech (88) are the top funding deal winners (84). Startups survived the COVID-19 pandemic in India.

The biggest deals between Indian companies, like Walmart and Flipkart (having Myntra and PhonePe), show that India is becoming a startup hub. One 97 Communications (PayTM), Ola cabs, Dream 11, Swiggy, and Razorpay are some high-valued Indian startups.

Healthtech, social commerce, finance, and other startups in India are becoming unicorns in the country. Startups in India worth over $1 billion are called unicorns. Over 600 unicorns exist worldwide as of April 2021. In 2023, Inc42 listed 10 Indian unicorns. This blog lists startups in India. These startups have thrived and want to grow.

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Top Startups In India

Top 25 startups in India:

  1. CRED 
  2. Vernacular.ai
  3. PharmEasy 
  4. Digit Insurance
  5. Meesho 
  6. Groww 
  7. Nykaa 
  8. Udaan 
  9. Dream11 
  10. Swiggy 
  11. Instamojo 
  12. PostMan 
  13. Delhivery 
  14. Slice
  15. InMobi 
  16. Practo 
  17. BoAt
  18. Skyroot Aerospace
  19. LivSpace 
  20. Ather
  21. Paytm
  22. OLA
  23. Cult.fit
  24. Razorpay
  25. QNu Labs

For more details, please keep reading!

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1. CRED

CRED, founded in 2018, rewards credit card payments. The platform now gives users “CRED coins” for paying bills through the app. These coins can be redeemed for products, contests, and workshops. Bangalore-based startup offers credit and premium products. The startup wants to incentivize financial behavior.

TechCrunch says CRED is the youngest Indian startup worth $2.2 billion. This 2-year-old startup has over 6 million customers and 22% of credit card holders. As per the founder and CEO, Kunal Shah, the company is targeting affluent customers and has become one of the most talked-about startups.

Very few companies focus on the high-end base and continue strong growth over the years. CRED plans to allow over 1,000 merchants to accept CRED coins. The startup is also planning to own an eCommerce store. It is clearly visible that the startup is planning a lot more than just providing reward coins to its customers.

Top Startups In India

2. Vernacular.ai

AI-First SaaS startup aims to be the world’s leading voice automation and AI platform. Banking, F&B, and hospitality use the company’s speech recognition and voice assistants. Their services have the least human interference and can handle complex servicing issues as well. In 2020, the 2016 startup raised $5.1 million.

According to Economic Times, Vernacular.ai plans to hire 100 people in 2021 to strengthen its leadership. Last year saw layoffs and pay cuts, but Vernacular.ai has quadrupled its workforce. Multifunctional employees are helping the company become the world’s most appealing Voice AI platform.

Recently, the company announced the appointment of Gangadhar Kodandaram as Chief revenue officer (former Microsoft employee) and Ankit Jain as Vice President for product management (An alumnus of Amazon) (An alumnus of Amazon). Their expertise will boost Vernacular.ai. Vernacular.ai may expand as voice and automation grow rapidly.

3. PharmEasy

India’s PharmEasy sells OTC products, diagnostic tests, and medical instruments online. Since 2015, the Mumbai, Maharashtra-based company has grown rapidly. It’s an online pharmacy with every medical product imaginable.

During the COVID-19 pandemic, the company has grown as an essential service. In India, PharmEasy faces 1mg and Netmeds. The first Indian Epharmacy unicorn, this health tech startup raised $350 million. After PharmEasy merged with Medlife, funding increased. PharmEasy owns 100% of Medlife and 19.95% of the merged entity. Both companies merged to compete with newly entered pharmacy players like Netmeds (Reliance Jio), Flipkart, and Amazon Pharmacy.

PharmEasy investors also backed Swiggy and Byju’s. In the next year, founders Dharmil Sheth and Dr. Dhaval Shah aim to reach over 100,000 pharmacies in India’s new markets.

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4. Digit Insurance

Digit Insurance, founded in 2016, aims to simplify insurance products to change people’s views. In 2020, Virat Kohli and Anushka Sharma invested $340K in Digital Insurance’s first funding.

Over 20 lakh Indians have purchased COVID-19 and other disease insurance. Digit, a Bangalore startup with low operating costs and good business metrics, broke even in 2020. In 2020, the company grew 30%, according to Chairman Kamesh Goyal.

Digit won “Hottest Startups in India 2019,” “Asia’s Best General Insurance Company of the Year 2019,” “Fintech 250 List,” and more. Kamesh Goyal added that the funding will grow business and technology.

5. Meesho

Meesho, a reseller platform founded in 2015 by IIT-Delhi graduates, will become a major e-commerce distribution channel for homepreneurs selling products on WhatsApp, Facebook, and Instagram. $300 million raised values the company at $2.1 billion.

Meesho allows small businesses to succeed online. Facebook is an investor in this $490 million platform. Meesho manages logistics, orders, and payments for sellers on an online marketplace. It links over 13 million Indian entrepreneurs in grocery, home and kitchen appliances, apparel, and more.

Meesho has the potential to elevate retailing as Indian social commerce is expected to grow 55%-60%. GlowRoad, Dealshare, and CityMall are competing for investor attention. In December 2020, 2018-founded Dealshare raised $21 million.

Meesho claims to have delivered from over 100,000 registered suppliers, earning homepreneurs $500 Cr (US$68 million).

Top 25 Indian Startup

6. Groww

Groww lets investors buy stocks, ETFs, mutual funds, IPOs, and more. The platform is web- and mobile-friendly. Four ex-Flipkart employees noticed how hard it is to invest in India and founded the company in 2016. They founded Groww with over 15 million users after realizing this.

Groww claims that over 60% of the company is from smaller Indian cities that have never invested. Groww is used nationwide, according to founder Lalit Keshre. Working-class, young people in all major cities want to invest their money.

In 2021, it raised $83 million and became a unicorn. This company plans to invest this much in new products, talent, and investor education platforms.

7. Nykaa

Nykaa is a 2012 fashion and beauty e-commerce platform. The company sells affordable beauty and wellness product. Its March 2020 $25 million funding and $1.2 billion valuation are intriguing. Katrina Kaif and Alia Bhatt invest in the company.

The platform’s founder, former investment banker Falguni Nayar, wants to offer thousands of products. The company has over 55 retail stores and fulfills 1.5 million orders monthly. Nykaa’s website and stores sell over 500 brands to over 5 million monthly active users.

Nykaa Fashion sells clothes and accessories. Nykd is its intimate wear brand. RedSeer Consulting predicts a 9% CAGR for India’s online beauty market. Nykaa can expand in India with this opportunity. The company plans to go public in 2022 and raise $3.5 billion.

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8.Udaan

A 2016 tech startup offers B2B e-commerce solutions. The company, founded by Flipkart executives Sujeet Kumar, Vaibhav Gupta, and Amod Malviya, has over 3 million users in 900 cities. It connects 25000+ Indian sellers. BoAt Lifestyle, PepsiCo, LG, ITC, and thousands of other brands have joined the company.

The company became a unicorn in 2018 in record time. Udaan raised $280 million from existing and new investors. The company is worth over $3.1 billion after raising $1.15 billion.

The Udaan co-founder says the COVID-19 pandemic has accelerated the digital-led evolution of the unorganized Indian trade retail industry. Udaan can maintain its national e-commerce lead with this.

Udaan is using Pickily to enter B2C markets, according to Entracker. The Google Play Store app sells FMCG products across Bangalore. The company can compete with Big Basket, Swiggy Stores, Flipkart, and others with this venture.

9. DREAM 11

DREAM 11, an Indian fantasy sports platform founded in 2008, has over 10 crore users. Two young cofounders, Harsh Jain and Bhavit Sheth, founded the company in Mumbai, Maharashtra. DREAM 11 raised $400 million before IPL 2021. One of the investors is TCV which has also backed the giants like Airbnb and Netflix. The $5 billion valuation makes DREAM 11 India’s first Unicorn startup. The company’s 3-year CAGR is 230 percent.

Indian fantasy gaming leader Dream 11 It has attracted a lot of young users who are crazy about games. The company reached 1 million users in three years and 3 million in two months. Before the pandemic, the company had 75 million users. Deloitte reports that fantasy sports in India have grown nearly 200%, helping the company grow.

10. Swiggy

Imagine working on Monday and craving cheesecake after lunch. Swiggy lets you satisfy your cravings at home. Swiggy, India’s largest food delivery platform, serves 27 cities and has 40,000 restaurant partners. The Bangalore-based company raised $800 million and is now worth nearly $5 billion.

Swiggy now has a 50-million-person target market, a once-in-a-lifetime opportunity. When Zomato entered the market in 2014, food delivery services began with 5 delivery boys and 25 restaurant partners. In less than four years, the startup became a unicorn and is challenging Zomato. Its excellent customer experience value chain drives its success.

Customer-focused, the startup stands out. Swiggy stood out when TinyOwl and FoodPanda struggled. So it’s one of India’s most successful startups.

2022 Startups From India

11. Instamojo

Instamojo, the “simplest payment solution,” has reduced technical expertise and upfront costs and given small businesses access to web and mobile distribution channels through up-selling and cross-selling e-commerce tools and features.

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12. PostMan

PostMan simplifies the API lifecycle and improves collaboration to help you design better APIs faster.

13. Delhivery

Delhivery, founded by Bhavesh Manglani, manages transportation, warehousing, freight, and order fulfillment.

14. Slice

Tiger Global Management, Moore Strategic Ventures, Insight Partners, and GMO VenturePartners funded Slice’s $50 million Series C round. The company said it would use the funds to grow its UPI product line. Slice has raised $270 million.

15. InMobi

2011 saw India’s first unicorn startup, InMobi. 22 offices in 12 countries and 5 continents employ 1,500 people. SoftBank, Kleiner Perkins Caufield & Byers, and Ram Shriram’s Sherpalo Ventures fund the company. InMobi’s Native Ads platform lets mobile publishers and app developers deliver in-context native ads to customers.

StartUp Ideas

16. Practo

Abhinav Lal founded health tech startup Practo in 2008. This healthcare startup helps consumers find doctors, book instant appointments, and make healthier choices.

17. BoAt

Aman Gupta’s 2016 Indian startup is the boAt. This Indian company’s stylish and affordable electronics have attracted customers.

18. Skyroot Aerospace

Former ISRO scientists Pawan Kumar Chandana and Naga Bharath Daka founded Skyroot Aerospace in July 2018. This startup helps build the Vikram rockets to launch small satellites.

19. LivSpace

Anuj Srivastava Ramakant Sharma founded interior design startup LivSpace in 2014. The fifth unicorn startup in India provides restoration and interior design services.

20. Ather

Bangalore-based Ather Energy makes electric vehicles. Tarun Mehta and Swapnil Jain founded it in 2013. In the first half of 2021, Ather Energy sold 3677 two-wheeler EVs in India, making it the fourth-best seller.

21. Paytm

A business with its headquarters in India that offers financial, e-commerce, and online payment services. Nearly 20 million active users are thought to utilize Paytm as their preferred method of payment. With an estimated value of $16 billion, the business has risen to the top of the fintech industry worldwide.

22. OLA

Ola is a Bangalore-based startup company that offers services relating to taxis and was started in 2010. It also offers services for bike rentals, taxis, and local transportation in addition to offering cab services. Ola has investment financing of approximately $3.8 billion from numerous businesses and investors in almost all of the main nations.

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23. Cult.fit

A health and fitness startup with headquarters in Bangalore, India is called Cult.fit. The business offers its clients specialized programs for people to help maintain their bodies and health, as well as fitness-related services.

A big corporation like Unilever is one of the many investors that have helped the company raise over $404.6 Million.

24. Razorpay

Razorpay is a business that offers both individuals and businesses a safe and effective platform and channel for making online payments. The company has received an estimated $366.6 Million in capital from a number of investment organizations.

25. QNu Labs

By making businesses crypto-agile, QNu Labs, a pioneer and the only Indian firm producing quantum cryptography products and solutions, aims to ensure business resiliency to organizations. Quantum Key Distribution (QKD) Technology is a key component of QNu Labs’ work developing quantum solutions for cyber security.

Its solutions enable the transmission of a cryptographic key between two distant parties over a quantum channel, solving the secure key distribution problem. Several of the current encryption techniques will become vulnerable with the advent of quantum computers.

ideas for startup and investment

The business offers business solutions, the security of which is guaranteed by the laws of quantum mechanics. One device that provides defense against quantum hackers is QKD. In contrast to current cryptosystems, which use pseudo-random numbers, the same technique also generates true random numbers.

These true random numbers can provide a reliable support for the current AES symmetric cryptography, which is the industry standard. As a solution for enterprise network security, QuNu has created ARMOS and is currently working on HODOS. The company has already forged business relationships with important Indian businesses to use their solution.

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Why Start Up?

A nation needs startups because they support its economy, foster employment opportunities, and promote innovation. They are in charge of introducing innovative workplace ideas, approaches, and solutions to the market.

When you work for a startup, you’ll encounter an interesting work environment, bright minds who are still developing, flexible hours, a healthy work-life balance, and inspiration. You are surrounded by passionate people who can help you develop a variety of talents and attributes, which may not be achievable in a corporate empire that has already achieved financial success.

So joining a startup can turn out to be a good decisions of your life if you’re just starting your profession for practical experience. Additionally, if you wish to pursue a career in web development, check out this full-stack development course with placement in India’s top startups!

Top Indian Startups FAQ

Byju is a major Edtech startup.

Zerodha, Mu Sigma, Byju, FirstCry, Flipkart is a profitable Indian startup.

India’s fastest-growing startups include: CRED, Zomoto, Uddan, Meesho, Digital Insurance, Pharmeasy.

India’s most innovative startup is CRED.

Unique startup examples: OneDios, AarogyaAI, TradeX, Unbox Robotics

Unsuccessful startups include: Doodwala, Yummist, Pepper Tap, Hike

Indian unicorns number 104. (Inc24) Indian unicorns include: Leadsquared, PhysicsWallah, Games24x7, CredAvenue, Livspace, DealShare, Darwinbox

Consider these successful Indian startup concepts. In several nations, food delivery has outperformed e-commerce, cleaning, Daycare, Food Truck, Insurance, Spy & Security, Catering and Pet Care.

  • Startups are being backed by big companies.
  • The Indian government values disruptive innovators across the value chain. 26+ states have startup policies.
  • Cheaper internet and smartphone adoption allowed millions of new users.
  • First-generation entrepreneurs inspired new entrepreneurs.

Conclusion

India has many successful startups. Flipkart, Big Basket, Ola Cabs, FirstCry, and CureFit are well-known. These startups are driven by India’s new global presence, millions of new customers, and education. MBA programs in digital marketing teach business, entrepreneurship, and consumer behavior.

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