India has experienced significant growth in the startup sector, with many individuals taking risks to pursue their passions. This has led to the emergence of numerous innovative companies that have made our lives easier and more convenient. Some of these startups are self-funded, others are solo ventures, and still, others have received funding from venture capitalists and have grown into well-known brands. Impressively, India is home to a total of 108 startups that have achieved unicorn status.
India has seen an increase in the number of startup unicorns, with companies from various industries such as healthtech, social commerce, finance, and more joining the ranks. A unicorn company is defined as a startup that has a valuation of over $1 billion. As of April 2021, there are over 600 such unicorns globally. According to Inc42, in 2023, 10 Indian startups made it to the list of unicorns. In this blog we’ve listed some of the best Startups in India.
PhysicsWallah is an online education platform that provides affordable and comprehensive courses in physics to students ranging from 6th to 12th grade and preparing for competitive exams such as JEE and NEET. The platform was founded by Alakh Pandey, who began his career as a teacher earning 5,000 INR, and has since grown PhysicsWallah into a successful unicorn company valued at 7.77 billion INR. PhysicsWallah offers a variety of courses and resources to help students excel in physics and achieve their academic and career goals.
CRED is a Bangalore-based startup that was established in 2018. It is a platform where users can pay their credit card bills and earn rewards in the form of “CRED coins”. These coins can be used to purchase products, participate in contests, or join workshops. CRED offers a range of services, including credit and a premium catalog of products, with the aim of improving financial behaviour by incentivizing customers.
According to TechCrunch, CRED is the youngest Indian startup to be valued at around $2.2 billion. With over 6 million customers and a user base of 22% of all credit card holders, CRED has become a popular and highly talked-about startup. The company is focused on serving the affluent segment of the market and is led by founder and CEO Kunal Shah.
Boat is an Indian consumer electronics brand that sells earphones, headphones, speakers, and other audio and lifestyle products. Boat, which was founded in 2018, has quickly become one of the leading brands in the Indian audio market, providing high-quality products at reasonable prices. Boat is dedicated to providing its customers with innovative and premium audio experiences, with a strong emphasis on design and aesthetics. The brand’s products are known for their stylish appearance and exceptional sound quality, and they have become extremely popular among Indian and other consumers. Boat is well-positioned for future success, with a growing customer base and a reputation for excellence.
Zerodha is a leading Indian fintech company that offers an online trading platform for stocks and commodities. The company was founded in 2010 with the goal of making the stock market accessible to everyone, and it has since grown to become one of India’s largest stockbrokers. Zerodha provides a variety of products and services, including online trading, mutual funds, bonds, and other investments. The company is well-known for its user-friendly platform and dedication to low fees, making it a popular choice for both experienced and novice traders.
With a strong emphasis on technology and innovation, Zerodha is transforming the Indian financial landscape and democratising stock market access.
CarDekho is an online car search platform that helps users find their ideal vehicle. The company buys cars from customers and then sells them through their online catalog of over 3,000 certified pre-owned vehicles. With a presence in over 100 marketplaces, CarDekho offers a convenient and reliable option for car buyers looking to purchase their next vehicle.
PharmEasy is an online medical store and pharmacy based in Mumbai, Maharashtra that specializes in over-the-counter (OTC) products, diagnostic tests, and medical instruments. Established in 2015, the company has experienced remarkable growth and offers a comprehensive range of products found in traditional brick-and-mortar pharmacies. With PharmEasy, you have access to a vast selection of medical products online.
Nykaa is a leading online beauty and fashion e-commerce platform established in 2012. It provides an extensive selection of wellness and beauty products at affordable prices to customers. In March 2020, the company raised $25 million, and its current valuation stands at $1.2 billion. Notable investors include Bollywood celebrities Alia Bhatt and Katrina Kaif.
Founded by Falguni Nayar, a former investment banker, Nykaa was created with the vision of offering customers a wide variety of product options. Today, the company boasts 55 retail stores and handles approximately 1.5 million orders each month. With over 5 million monthly active users and partnerships with more than 500 brands, Nykaa is a top player in the beauty and fashion retail market.
Swiggy is a well-known food delivery platform in India. With its headquarters in Bangalore, the company has made it easy for people to satisfy their cravings from the comfort of their homes. Swiggy operates in 27 cities and has partnered with over 40,000 restaurants, making it the largest food delivery platform in India.
Recently, the company raised $800 million in funding and has a current valuation of nearly $5 billion. The target market for Swiggy has also expanded to 50 million, offering a significant growth opportunity for the company. Despite facing competition from established players like Zomato, Swiggy has grown rapidly, reaching the status of a unicorn startup in just 4 years. The company attributes its success to its exceptional customer experience value chain.
DREAM11, an online fantasy sports platform founded in 2008, has become a household name in India with over 100 million users. Based in Mumbai, the company was established by Harsh Jain and Bhavit Sheth and has received a $400 million investment from TCV, known for backing companies like Airbnb and Netflix. With a CAGR growth of 230% in the past 3 years, DREAM 11 has reached a staggering valuation of $5 billion, making it India’s first unicorn start-up.
Postman is a popular collaboration platform for API development. It allows users to design, test, debug, and document APIs through a graphical user interface. Postman provides a comprehensive suite of tools for API development and management, including a built-in REST client, support for different authentication methods, and the ability to share and collaborate on API collections.
Postman is widely used by software developers, QA engineers, and other technical teams to streamline the API development process. Postman has grown rapidly since its founding and has become one of the leading tools for API development.
Delhivery is an Indian e-commerce logistics and supply chain solutions company. Delhivery, which was founded in 2011, offers a variety of services such as last-mile delivery, reverse logistics, cross-border e-commerce, and more. Delhivery is one of India’s largest and most well-established e-commerce logistics companies, with a presence in over 1700 cities and a client base of over 1500.
Delhivery has received funding from a number of investors and has expanded rapidly in recent years, becoming a major player in the Indian e-commerce market. The mission of Delhivery is to simplify and streamline supply chain operations for businesses, allowing them to connect with their customers and grow their businesses more easily.
LivSpace is a home interior design and renovation company with headquarters in Singapore. LivSpace offers comprehensive interior design solutions for homes and provides its services in both Singapore and India. Whether you’re looking to design a new space or renovate an existing one, LivSpace is committed to delivering personalized and affordable design solutions to fit your unique needs and style.
Meesho, founded in 2015 by IIT-Delhi graduates, is a reselling platform that has positioned itself as a major e-commerce distribution channel. This platform allows individuals, often referred to as “homepreneurs,” to sell products through popular social media platforms like WhatsApp, Facebook, and Instagram. The company’s success is reflected in its current valuation of $2.1 billion, which it achieved after raising $300 million in funding.
DealShare, a B2B e-commerce platform that specializes in grocery buying, has entered the private label market with plans to invest 500 crore over the next 2 to 3 years in expanding its private brands.