It is no surprise that the range of startups in India is the third-largest start-up ecosystem in the world. Investors from all around the world are looking for opportunities in India for the growth and development of their businesses, partnerships, acquisitions, and other purposes. You’ve already heard of the largest e-commerce deal, between Flipkart and Walmart, but this is just the tip of the iceberg. There are over 30 similar start-ups that have been included in the Unicorn companies list, that is, the total valuation of the start-up has to be $80 Billion+.
And the Indian start-up ecosystem is nowhere near its saturation point. There are still plenty of opportunities growing every day. While startup companies in Bangalore had early success but now similar stories have been pouring from all over the country. And this impact can also be felt in international markets too. Indian start-ups’ products and services are crossing international markets and making a name for themselves.
The 6 Most Revolutionary Start-Ups From India
Over the years, Indian startup companies have been successful in different sectors, such as electric cars in India, enterprises, e-commerce, manufacturing, and many more. And for this very reason, these start-up companies have shifted their focus towards further expansion and targeting a wider group of consumers.
Here is a list of the top 6 most revolutionary startups in india.
- BYJU’s Edtech
Let’s get into details,
Founders, Sachin and Billy Bansal came up with the idea of Flipkart in 2008 with an investment of merely $6000, which is a little over 4 lakh in Indian currency. And since then, Flipkart has been growing rapidly into a multi-billion dollar e-commerce site that has acquired a total valuation of over $20 Billion. Over the last decade, Flipkart has gained investors from all around the world. One of their milestones for growth was its deal with Walmart which acquired Flipkart for a whopping $16 Billion, considered to be the largest e-commerce deal to date. Moreover, Flipkart is one of the best startup companies in India. It is expecting to expand more with its collaboration with PhonePe for its payments and transactions.
The key investors for Flipkart are SoftBank, Tiger Global Management, Naspers, Microsoft, DST Global, Tencent, Accel Partners, eBay, and Steadview Capital. Amounting to a total investment worth $7.3 Billion.
2. BYJU’s Edtech
Founders of BYJU’s Edtech, Byju Raveendran, and Divya Gokulnath started this company with the idea of implementing a simple e-learning platform for all. But they never expected the kind of growth their startup in India would face. In just a few years, it turned out to be the largest e-learning platform across the globe. BYJU’s offer a wide range of online courses specifically built for secondary and senior secondary students, these courses include both CBSE and ICSE curriculums. There are also online materials for classes from IV to X, and competitive examinations like CAT, GATE, JEE, GRE, IAS, and many more.
To date, this Startup has managed to register over 35 Million users and their annual paid subscribers collectively reach over 2 Million. With the help of investors like General Atlantic, Tencent Holdings, Verlinvest, Chan Zuckerberg Initiative, Sequoia Capital India, Qatar Investment Authority (QIA), Naspers, and Canada’s Pension Plan Investment Board (CPPIB), and many more, BYJU’s managed to raise over $970 Million in funding. The total valuation of the company stands at $5.7 Billion.
The idea behind one of the best startup businesses in India was quite whimsical. It was during one of the founders, Bhavish Aggarwal’s visit to Bandipur from Bengaluru when his cab driver left him in the middle of somewhere on his way. All of it was because of a failed negotiation over the cost of the travel. This was the spark that drove Bhavish to come out with his cab aggregation start-up named OLA Cabs.
Teaming up with Ankit Bhati, OLA started its services in 2010. And now, OLA Cabs are available in over 50 cities across India, Australia, UK, and New Zealand. Over the last few years, OLA claimed to have completed over a billion rides every year and has over 1.5 Million drivers across the country.
Recently, OLA moved into new startup ideas across all its service platforms. For example, it recently launched booking services for other vehicles such as bikes, and auto-rickshaws. Moreover, with the new OLA Drive, it shifted its focus to the self-driving market along with a connected car platform known as OLA Play. OLA Electric, a recent venture that stepped into the 1 Billion Dollar club last year, is also an initiative by OLA towards electric vehicles.
Other than mobility services, OLA is gradually venturing into fast food delivery and cloud kitchen businesses as well. With the OLA Khichdi services, OLA is acquiring online kitchen services and delivery partners to open a full-fledged home delivery food service.
The main funding for OLA includes companies like SoftBank, Tencent Holdings, and Tekne Capital who raised over $3.2 Billion in the capital. Taking OLA’s total valuation to $6.2 Billion.
Founders, Nandan Reddy, Rahul Jaimini, and Sriharsha Majety started their food delivery services named Swiggy in Koramangala, Bengaluru in 2014. With only 6 delivery executives, 25 partner restaurants, and a strong vision, Swiggy came a long way to become India’s largest food delivery service across 600 cities. Swiggy is already titled as one of the best startup businesses in India. Today, Swiggy has over 2 Lakh active delivery partners and manages over 1.5 Million food orders annually.
With the help of their key investors, DST Global, Tencent Holdings, Bessemer Venture Partners, Naspers, Accel, Norwest Venture Partners, and SAIF Partners, their total funding crosses over a billion dollars. And their estimated valuation is predicted to be over $3 Billion.
When Paytm was launched back in 2010, it was introduced as a digital wallet. But now, after many years since its launch, Paytm took into new payment ventures and included a plethora of services under its name. Founder of Paytm, Vijay Shekhar Sharma, has managed the application in such a way that its services are relevant to the ever-changing fintech trends while following strict regulatory guidelines. Back in 2016, Paytm’s user base was around 120 Million, but with the sudden demonetization in November 2016, its user base rose over 180 Million. And in only two years, Paytm users crossed the 300 Million bar in 2018.
Following the Startup India Program, apart from just payments and transaction services, Paytm has expanded its services into different services. Some of which are paying bills, fund transfer, booking flights, trains, tickets, and so on. And to tend to these services, Paytm launched several major services that handle each category of payment. These services are; Paytm Insurance Corporation, Paytm Financial Services, Paytm Mall, Paytm Entertainment, Paytm Money, etc. To date, Paytm has over 130 Million daily active users.
The key investors of Paytm, SoftBank, SAP Ventures, SAIF Partners, Alibaba, Berkshire Hathaway, and Intel Capital have contributed to the overall funding of $2.5 Billion and have helped reach Paytm’s current valuation of $15 Billion.
The story of Ritesh Agarwal is very inspiring for all the young entrepreneurs across India. He started his entrepreneurship at a very young age and stood tall with his startup ideas until he transformed OYO into India’s largest hospitality service. To date, OYO has acquired over 35,000 hotels and over 125,000 Lakh vacation homes, and over 1.2 million hotel rooms across 800 cities in more than 80 countries. OYO services are available across India, the UAE, the US, Indonesia, China, Europe, and many more countries.
One of the best attributes of OYO is their close proximity to its partners that enable them to have full control over their rooms. This makes sure that customers have a high-quality experience during their stay. OYO rooms provide a fully-furnished, modern atmosphere to its customers.
With investors like SoftBank, Sequoia Capital, Greenoaks Capital, Huazhu Hotels Group, Venture Partners, and Lightspeed, OYO managed to raise over $1.7 Billion in funding, and its current valuation is estimated to be around $16 Billion and it is expected to grow rapidly in the following years.
The market of technology, product, and services keeps expanding every day. Almost every week you can see a new trend dominating the market, and so does a new Indian Startup coming up every month to respond to these trends. The competition is tough, despite this, more and more start-ups are moving into the unicorn’s list and many will be joining the list after some time. The Startup India Program is growing rapidly compared to other countries.
The biggest thing to take away from here is that all of these start-ups started small, the founders had no idea that their idea could revolutionize the market to such an extent. All they had was a clear vision of what purpose these Indian startups would fulfill, and now it looks like all of their hard work, dedication, and visions come true. Another important thing that you will find common between all of these ventures, is that they kept adapting to the consumers and the market. A startup in India is only as good as its adaptive capabilities. If a start-up cannot adapt to the consumer’s demands, and follow the current market trends, it will fail to grow and eventually perish from the market.