Last updated on December 30th, 2023 at 04:03 am
Top Startups in India 2024 Full Details
Startups in India have seen significant growth over the past decade, driven by a combination of factors such as increasing access to technology, a growing middle class, and a supportive government policy environment.
The Indian startup ecosystem is now considered one of the fastest-growing in the world, and India is home to a large number of successful startups across various sectors, including technology, e-commerce, healthcare, and fintech.
Some of the key trends and characteristics of the Indian startup ecosystem include:
- Government support: The Indian government has been actively promoting entrepreneurship and supporting the growth of startups through initiatives such as the Startup India program, which provides financial and regulatory support to startups.
- Venture capital investment: India has a thriving venture capital industry, with many local and international investors investing in startups.
- Growing technology sector: India has a large pool of skilled technology workers and a growing technology sector, which has created a favorable environment for technology startups.
- E-commerce boom: The growth of the Indian e-commerce sector has been driven by the increasing penetration of the internet and smartphones, and the sector is now a major contributor to the Indian economy.
- Fintech boom: The fintech sector in India is growing rapidly, driven by the increasing adoption of digital financial services and a supportive regulatory environment.
Overall, the Indian startup ecosystem is highly dynamic and constantly evolving, and it offers a wealth of opportunities for entrepreneurs and investors alike. Despite the challenges that startups face, such as limited access to capital and a complex regulatory environment, the Indian startup ecosystem is considered one of the most exciting and rapidly growing in the world.
What Is Startup
A startup is a new company or enterprise that is in the initial stages of operations, often focused on developing a unique product or service with the aim of growing the business into a profitable organization. Startups are typically founded by entrepreneurs who have a vision of creating something innovative and disrupting the market.
The goal of most startups is to bring a new product or service to market, scale the business, and eventually sell it to a larger company or go public through an initial public offering (IPO). Startups often face significant challenges, such as securing funding, attracting customers, and navigating complex regulatory environments, but they also offer significant potential for growth and disruption in their respective industries.
Types of Startups
There are several types of startups, including:
- Technology startups: These companies develop and commercialize new technology products, such as software, mobile apps, and hardware devices.
- E-commerce startups: These companies offer products or services through an online platform, such as Amazon or Etsy.
- Healthcare startups: These companies focus on developing solutions in the healthcare sector, such as telemedicine or medical devices.
- Social impact startups: These companies aim to address social and environmental issues, such as sustainability or poverty.
- Biotechnology startups: These companies focus on using biology and biochemistry to create new products and solutions, such as new drugs or treatments.
- Fintech startups: These companies focus on developing innovative solutions for the financial sector, such as mobile payments or digital wallets.
- Artificial Intelligence startups: These companies focus on creating AI-powered products and solutions, such as personalized recommendation systems or chatbots.
- Clean Energy startups: These companies focus on developing sustainable energy solutions, such as wind or solar power.
It’s worth noting that many startups can fall into multiple categories, as they may use technology to address social and environmental issues, for example. The important thing is to understand the underlying mission and focus of the startup, as well as the products or services they offer.
Top 20 Startups in India
Here are the top 20 successful startups in India, along with a brief description of each:
Paytm:
Paytm is an Indian e-commerce and digital payments company founded in 2010 by Vijay Shekhar Sharma. It started as a mobile recharge and bill payment platform, and has since expanded to offer a wide range of financial and shopping services. The company’s mission is to bring financial services to the masses and to make digital payments accessible to everyone in India.
Paytm has become one of the leading digital wallet and mobile commerce platforms in India, with over 300 million users. The company offers a range of services, including mobile recharges, utility bill payments, and online shopping, as well as financial services such as insurance, personal loans, and investment products.
Paytm has raised over $3 billion in funding from investors such as SoftBank, Alibaba Group, and Ant Financial, and has a valuation of over $16 billion. The company has also acquired several companies, such as the online marketplace Nearby and the online ticket booking platform Insider.in, to expand its offerings and strengthen its market position.
Paytm’s success has made it one of the most valuable startups in India, and its impact on the digital payments landscape has been significant. The company’s focus on financial inclusion and digital payments has helped drive adoption of these services in India and has paved the way for the growth of the fintech industry in the country.
Flipkart:
Flipkart is an Indian e-commerce company founded in 2007 and headquartered in Bengaluru, India. It was acquired by Walmart in 2018.
In addition to being an e-commerce platform, Flipkart also runs a startup accelerator program called Flipkart Leap. This program provides support, mentorship, and resources to early-stage startups that are working in areas relevant to Flipkart’s business. Startups accepted into the program receive funding and have the opportunity to work closely with Flipkart to develop and scale their products. The program is designed to be a win-win for both Flipkart and the startups, as Flipkart gains access to new technologies and ideas, while the startups receive support and resources to help them grow.
Some of the startups that have been a part of the Flipkart Leap program include:
- MyUpchar: a health information platform that provides trusted and accessible health information to users in India
- 4TiGO: a logistics startup that provides last-mile delivery services to businesses
- Mfine: an AI-powered virtual healthcare platform that connects patients with doctors online
These are just a few examples of the many startups that have participated in the Flipkart Leap program.
Ola:
Ola is an Indian multinational transportation network company founded in 2011 and headquartered in Bengaluru, India. In addition to operating a ride-hailing service, Ola also runs a startup accelerator program called Ola Accelerator. This program provides support, mentorship, and resources to early-stage startups that are working in areas relevant to Ola’s business, such as mobility, transportation, and smart cities. Startups accepted into the program receive funding and have the opportunity to work closely with Ola to develop and scale their products.
Some of the startups that have been a part of the Ola Accelerator program include:
- Euler Motors: a manufacturer of electric three-wheelers
- ODigma: a marketing intelligence platform that uses AI and machine learning to help brands better understand their customers
- Lithium Urban Technologies: a provider of electric vehicle fleet management solutions
These are just a few examples of the many startups that have participated in the Ola Accelerator program.
Swiggy:
Swiggy is an Indian online food ordering and delivery platform founded in 2014 and headquartered in Bengaluru, India. The company has since expanded to several other cities in India and is known for its fast and reliable delivery services.
Swiggy does not run a formal startup accelerator program, but the company has invested in and acquired several startups in order to expand its services and stay at the forefront of the food delivery industry. Some of the startups that Swiggy has invested in or acquired include:
- SuprDaily: a daily delivery service for milk, bread, and other essential items
- on-demand services platform SuprFax
- subscription-based meal delivery company SuprDaily
These investments and acquisitions have allowed Swiggy to further diversify its offerings and strengthen its position in the Indian food delivery market.
Byju’s:
BYJU’s is an Indian educational technology (EdTech) company founded in 2011 and headquartered in Bengaluru, India. It provides online tutoring and test preparation services for students in India and around the world.
BYJU’s does not run a formal startup accelerator program, but the company has made several investments in and acquisitions of startups in order to expand its offerings and stay at the forefront of the EdTech industry. Some of the startups that BYJU’s has invested in or acquired include:
- WhiteHat Jr: an online platform that teaches children how to code
- Osmo: a maker of educational games and toys for children
- Aakash Educational Services: a provider of test preparation and coaching services for students in India
These investments and acquisitions have allowed BYJU’s to further diversify its offerings and strengthen its position as a leading provider of online education services in India and around the world.
Zomato:
Zomato is an Indian multinational food delivery and restaurant discovery platform founded in 2008 and headquartered in Gurgaon, India. The company operates in over 24 countries and is known for its extensive database of restaurants and user-friendly interface.
Zomato does not run a formal startup accelerator program, but the company has made several investments in and acquisitions of startups in order to expand its services and stay at the forefront of the food delivery industry. Some of the startups that Zomato has invested in or acquired include:
- TongueStun: a B2B platform for food delivery to corporates
- Sparse Labs: a provider of location-based services and mobile app development services
- TongueStun: a B2B platform that provides food delivery services to corporations
These investments and acquisitions have allowed Zomato to further diversify its offerings and strengthen its position as a leading player in the Indian and international food delivery markets.
PhonePe:
PhonePe is an Indian digital payments and financial services platform founded in 2015 and headquartered in Bengaluru, India. The company offers a wide range of financial services, including mobile recharge, utility bill payments, and money transfers, through its app.
PhonePe does not run a formal startup accelerator program, but the company has made several investments in and acquisitions of startups in order to expand its offerings and stay at the forefront of the digital payments and financial services industry. Some of the startups that PhonePe has invested in or acquired include:
- Zopper: an online marketplace for electronics and appliances
- FX Mart: a provider of foreign exchange services
- Nearby: a provider of hyperlocal services, including bill payments and mobile recharge
These investments and acquisitions have allowed PhonePe to further diversify its offerings and strengthen its position as a leading player in the Indian digital payments and financial services market.
PolicyBazaar:
PolicyBazaar is an Indian online insurance comparison and financial services platform founded in 2008 and headquartered in Gurugram, India. The company provides a platform for customers to compare and purchase insurance policies from a range of insurance providers.
PolicyBazaar does not run a formal startup accelerator program, but the company has made several investments in and acquisitions of startups in order to expand its offerings and stay at the forefront of the insurance and financial services industry. Some of the startups that PolicyBazaar has invested in or acquired include:
- PaisaBazaar: an online platform for personal loans, credit cards, and other financial products
- DocsApp: a platform that connects patients with doctors for online consultations Top Startups in India
- EasyPolicy: an online insurance comparison and purchase platform
These investments and acquisitions have allowed PolicyBazaar to further diversify its offerings and strengthen its position as a leading player in the Indian insurance and financial services market.
Oyo Rooms:
OYO Rooms is an Indian hospitality company founded in 2013 and headquartered in Gurugram, India. The company provides budget-friendly hotel rooms and is now one of the largest hotel chains in India and across the world.
OYO Rooms does not run a formal startup accelerator program, but the company has made several investments in and acquisitions of startups in order to expand its offerings and stay at the forefront of the hospitality industry. Some of the startups that OYO Rooms has invested in or acquired include:
- @Leisure Group: a European vacation rental company
- VacationRentals.com: a vacation rental platform in the US
- Novastar: a budget hotel chain in China
These investments and acquisitions have allowed OYO Rooms to further diversify its offerings and strengthen its position as a leading player in the global hospitality industry.
Udaan:
Udaan is an Indian B2B e-commerce platform founded in 2016 and headquartered in Bengaluru, India. The company provides a platform for small and medium-sized businesses to buy and sell goods online.
Udaan does not run a formal startup accelerator program, but the company has made several investments in and acquisitions of startups in order to expand its offerings and stay at the forefront of the B2B e-commerce industry. Some of the startups that Udaan has invested in or acquired include:
- Jilling: a B2B fashion and lifestyle e-commerce platform
- Open: a platform that offers digital banking services to small businesses in India
- Mosambee: a provider of mobile-based payment solutions for small businesses
These investments and acquisitions have allowed Udaan to further diversify its offerings and strengthen its position as a leading player in the Indian B2B e-commerce market.
Hike:
Hike was an Indian social media platform founded in 2012 and headquartered in New Delhi, India. The company provided a messaging and social media app that offered a range of features, including instant messaging, group chats, and news and entertainment content.
Hike did not run a formal startup accelerator program, but the company made several investments in and acquired startups in order to expand its offerings and stay at the forefront of the social media industry. Some of the startups that Hike invested in or acquired include:
- Creo: an Indian startup that developed the Creo Mark 1 smartphone and the Teewe digital media streaming device
- InstaLively: a live video streaming platform
- Pulse News: a news aggregator app
These investments and acquisitions allowed Hike to further diversify its offerings and strengthen its position as a leading player in the Indian social media market. Hike was later acquired by a large conglomerate in India and has since shifted its focus to other areas.
Dream11:
Dream11 is an Indian fantasy sports platform founded in 2008 and headquartered in Mumbai, India. The company provides a platform for users to play fantasy sports and win real money.
Dream11 does not run a formal startup accelerator program, but the company has made several investments in and acquisitions of startups in order to expand its offerings and stay at the forefront of the fantasy sports industry. Some of the startups that Dream11 has invested in or acquired include:
- Halaplay: an Indian fantasy sports platform
- FanCode: an Indian sports content and merchandise platform
These investments and acquisitions have allowed Dream11 to further diversify its offerings and strengthen its position as a leading player in the Indian fantasy sports market. In 2020, Dream11 became the first gaming company in India to be valued at over $1 billion following a successful funding round.
Freshworks:
Freshworks is an Indian customer engagement software company founded in 2010 and headquartered in Chennai, India. The company provides a range of customer engagement software solutions, including customer service and support, sales, marketing, and HR solutions.
Freshworks does not run a formal startup accelerator program, but the company has made several investments in and acquisitions of startups in order to expand its offerings and stay at the forefront of the customer engagement software industry. Some of the startups that Freshworks has invested in or acquired include:
- Joe Hukum: an Indian chatbot platform
- Airwoot: a social media management platform
- Konotor: a mobile engagement platform
These investments and acquisitions have allowed Freshworks to further diversify its offerings and strengthen its position as a leading player in the customer engagement software market. Freshworks has also made significant investments in research and development to ensure that its products remain at the cutting edge of technology and innovation.
FirstCry:
FirstCry is an Indian e-commerce company specializing in baby and children’s products. It was founded in 2010 and is headquartered in Pune, India. The company provides a platform for parents to purchase a wide range of baby and children’s products, including clothing, toys, and educational materials.
FirstCry does not run a formal startup accelerator program, but the company has made several investments in and acquisitions of startups in order to expand its offerings and stay at the forefront of the baby and children’s products industry. Some of the startups that FirstCry has invested in or acquired include:
- BabyOye: an Indian online retailer of baby and children’s products
- Hopscotch: an Indian e-commerce platform specializing in children’s products and accessories
- Mahindra Retail: a subsidiary of the Mahindra Group that operates a chain of retail stores selling baby and children’s products in India
These investments and acquisitions have allowed FirstCry to further diversify its offerings and strengthen its position as a leading player in the Indian baby and children’s products market. FirstCry has also made significant investments in technology, including the development of its own e-commerce platform and mobile app, to enhance the shopping experience for its customers.
Delhivery
Delhivery does not run a formal startup accelerator program, but the company has made several investments in and acquisitions of startups in order to expand its offerings and stay at the forefront of the logistics and supply chain management industry. Some of the startups that Delhivery has invested in or acquired include:
- XpressBees: an Indian logistics and delivery services provider
- Grab: a Southeast Asian logistics and delivery services provider
- Shadowfax: an Indian on-demand delivery services provider
These investments and acquisitions have allowed Delhivery to further diversify its offerings and strengthen its position as a leading player in the Indian logistics and supply chain management market. Delhivery has also made significant investments in technology, including the development of its own logistics management platform and the deployment of its own fleet of delivery vehicles, to enhance its logistics and delivery services.
PharmEasy:
PharmEasy is an Indian online pharmacy and healthcare platform founded in 2015 and headquartered in Mumbai, India. The company provides a platform for users to order medicines and health products online and have them delivered to their doorstep. PharmEasy also provides a range of healthcare services, including online consultations with doctors and booking diagnostic tests.
PharmEasy does not run a formal startup accelerator program, but the company has made several investments in and acquisitions of startups in order to expand its offerings and stay at the forefront of the online pharmacy and healthcare industry. Some of the startups that PharmEasy has invested in or acquired include:
- Medlife: an Indian online pharmacy and healthcare platform
- Doctor Insta: an Indian telemedicine platform
These investments and acquisitions have allowed PharmEasy to further diversify its offerings and strengthen its position as a leading player in the Indian online pharmacy and healthcare market. PharmEasy has also made significant investments in technology, including the development of its own online platform and mobile app, to enhance the user experience and simplify the process of ordering medicines and health products online. Top Startups in India
Cred:
Cred is an Indian financial technology company founded in 2018 and headquartered in Bengaluru, India. The company provides a platform for users to earn rewards for paying their credit card bills on time. Cred partners with a range of leading banks and financial institutions to offer its rewards program.
Cred does not run a formal startup accelerator program, but the company has made several investments in and acquisitions of startups in order to expand its offerings and stay at the forefront of the financial technology industry. Some of the startups that Cred has invested in or acquired include:
- Let’s Talk Payments: a financial technology news and analysis platform
- Miles: a travel rewards platform
These investments and acquisitions have allowed Cred to further diversify its offerings and strengthen its position as a leading player in the Indian financial technology market. Cred has also made significant investments in technology, including the development of its own rewards platform and mobile app, to enhance the user experience and simplify the process of earning rewards for paying credit card bills on time.
Razorpay:
Razorpay is an Indian financial technology company founded in 2014 and headquartered in Bengaluru, India. The company provides a payment gateway and digital payment solutions for businesses, including online and offline merchants. Razorpay offers a range of services, including payment processing, invoicing, and reconciliation, to help businesses manage their financial transactions.
Razorpay does not run a formal startup accelerator program, but the company has made several investments in and acquisitions of startups in order to expand its offerings and stay at the forefront of the financial technology industry. Some of the startups that Razorpay has invested in or acquired include:
- Nykaa Fashion: an Indian online fashion retailer
- Opstart: a financial technology startup that provides working capital solutions for small businesses
These investments and acquisitions have allowed Razorpay to further diversify its offerings and strengthen its position as a leading player in the Indian financial technology market. Razorpay has also made significant investments in technology, including the development of its own payment gateway and digital payment solutions, to enhance the user experience and simplify the process of managing financial transactions for businesses.
Meesho:
Meesho is an Indian social commerce platform founded in 2015 and headquartered in Bengaluru, India. The company provides a platform for individuals and small businesses to start and grow their online businesses. Meesho offers a range of services, including product sourcing, advertising, and fulfillment, to help its users succeed in the e-commerce market.
Meesho does not run a formal startup accelerator program, but the company has made several investments in and acquisitions of startups in order to expand its offerings and stay at the forefront of the social commerce and e-commerce industries. Some of the startups that Meesho has invested in or acquired include:
- StepSetGo: an Indian health and wellness platform
- SendHub: a cloud-based communication platform
These investments and acquisitions have allowed Meesho to further diversify its offerings and strengthen its position as a leading player in the Indian social commerce and e-commerce markets. Meesho has also made significant investments in technology, including the development of its own social commerce platform and mobile app, to enhance the user experience and simplify the process of starting and growing an online business.
ShareChat:
ShareChat is an Indian social media and content-sharing platform founded in 2015 and headquartered in Bengaluru, India. The company provides a platform for users to discover and share content, including news, videos, images, and text, in various Indian languages. ShareChat also offers a range of tools and services for content creators and businesses, including advertising and marketing solutions.
ShareChat does not run a formal startup accelerator program, but the company has made several investments in and acquisitions of startups in order to expand its offerings and stay at the forefront of the social media and content-sharing industries. Some of the startups that ShareChat has invested in or acquired include:
- Roposo: an Indian social media and content-sharing platform
- Josh Talks: an Indian video content platform focused on motivational and educational content
These investments and acquisitions have allowed ShareChat to further diversify its offerings and strengthen its position as a leading player in the Indian social media and content-sharing market. ShareChat has also made significant investments in technology, including the development of its own social media platform and mobile app, to enhance the user experience and simplify the process of discovering and sharing content.
These startups have disrupted traditional industries and established themselves as leaders in their respective sectors. They have raised significant funding, achieved significant growth, and are driving innovation in the Indian market. The success of these startups has also inspired a new generation of entrepreneurs and investors in India, further fueling the growth of the startup ecosystem.
Startup In India FAQ
Here are some frequently asked questions about starting a business in India:
Q. What are the steps to start a business in India?
Ans. The steps to start a business in India include:
- Choosing a business idea and conducting market research
- Registering the business and obtaining relevant licenses and permits
- Choosing a business structure (sole proprietorship, partnership, limited liability partnership (LLP), private limited company)
- Obtaining the Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN)
- Registering for Goods and Services Tax (GST)
- Opening a business bank account
- Hiring employees and obtaining employee identification number (EIN)
Q. What are the legal requirements for starting a business in India?
Ans. The legal requirements for starting a business in India vary based on the type of business and its size. Some common legal requirements include registering the business, obtaining PAN and TAN, registering for GST, and obtaining necessary licenses and permits.
Q. What are the types of business structures available in India?
Ans. The types of business structures available in India are sole proprietorship, partnership, limited liability partnership (LLP), and private limited company. Each structure has its own advantages and disadvantages and it is important to choose the one that is most suitable for the business.
Q. What are the tax implications of starting a business in India?
Ans. The tax implications of starting a business in India depend on the type of business and its structure. Businesses are required to pay income tax, GST, and may be required to pay other taxes such as professional tax, value-added tax (VAT), and service tax.
Q. What are the common challenges faced by startups in India?
Ans. Some common challenges faced by startups in India include:
- Lack of funding and access to capital
- Hurdles in obtaining necessary licenses and permits
- Difficulty in finding and retaining talented employees
- Competition from established players
- Navigating complex regulations and red tape
Q. How can a startup secure funding in India?
Ans. Startups in India can secure funding through a variety of sources including:
- Angel investors and venture capitalists
- Crowdfunding platforms
- Incubators and accelerators
- Government-sponsored schemes and funds
- Bank loans and financial institutions
Q. What are the government initiatives to support startups in India?
Ans. The government of India has launched several initiatives to support startups in India, such as the Startup India initiative, which provides funding, mentorship, and a simplified process for setting up a business. Other initiatives include the Atal Innovation Mission, the Make in India campaign, and the Digital India initiative.
Q. Which startups are profitable in India?
Ans. Some of the profitable startups in India are
Zerodha.
Byju’s
Mu Sigma.
FirstCry.
Flipkart
Q. Which is the fastest growing startups in India?
Ans. Some of the fastest growing startups in India are:
CRED
Zomoto
Uddan
Meesho
Pharmeasy
Digital Insurance
Q. Which startup company is best?
CRED is considered one of the best and most unique startups of India.
Q. Is zomato a startup?
Yes, Zomata is a startup
Q. Is Swiggy a startup?
Yes, Swiggy is a startup
Q. Which is the Unique startups?
Ans. Some of the Unique startups are listed below:
TradeX.
AarogyaAI.
Unbox Robotics.
OneDios.
Q. What are the unsuccessful startups in India?
Ans. Some of the Unscuessfull startups are:
Hike
Doodwala
Yummist
Pepper Tap
Q. How many unicorn startups are in India?
Ans. Collectively, the 104 Indian unicorns are there. ( Source Inc24)
Q. List of Unicorn startups in India
Ans. Some of the Unicorn startups in India are:
Leadsquared
PhysicsWallah
Games24x7
CredAvenue
Livspace
DealShare
Darwinbox