It’s no secret that India is a booming tech hub. In recent years, the country has produced some of the most revolutionary startups in the world and many of these businesses are playing an instrumental role in changing how we live and work. With such innovation popping up across India, choosing just a few to highlight can be difficult — but it's still incredibly exciting! From e-commerce platforms to ride-sharing apps, here are some of the top startups making waves in India today.
India's startup ecosystem is ranked number one in the Southeast Asian region. - Source: StartupBlink
Top Startups in India (2024 - List)
Here are some of the top startups in India:
1. Ola
Founders: Ankit Bhati, Bhavish Aggarwal, Pranay Jivrajka
Total Funding Amount: $5B
Founded Year: 2010
India is a bustling hub for startups and one such success story is that of Ola, the popular ride-hailing company that has changed the way people travel in the country. Ola's innovative mobility platform has seamlessly integrated city transportation for both customers and driver partners. With an aim to provide reliable and affordable transportation to millions, Ola has made commuting a hassle-free experience.
2. OYO
Founders: Ritesh Agarwal
Total Funding Amount: $3.3B
Founded Year: 2012
OYO is a company that needs no introduction to the world of travel technology. This dynamic startup from India has made a name for itself worldwide, connecting people from all parts of the globe. The power of OYO is in their mission to make travel accessible and affordable for everyone, while also providing top-notch service and accommodations. OYO has disrupted the traditional hospitality industry, paving the way for a new wave of affordable and convenient travel solutions.
India has a thriving startup ecosystem with over 68,000 startups that have collectively raised more than $140 billion in funding. - Source: Inc42
3. VerSe Innovation
Founders: Umang Bedi, Virendra Gupta
Total Funding Amount: $1.7B
Founded Year: 2007
This company is devoted to helping people discover new content easily and effectively. They use recommendation tools to track user preferences and curate content that they think will be of most interest. VerSe Innovation is committed to making content engagement accessible to everyone, and they are doing it with a unique blend of technology and ingenuity.
4. ShareChat
Founders: Ankush Sachdeva, Bhanu Pratap Singh, Farid Ahsan
Total Funding Amount: $1.7B
Founded Year: 2015
ShareChat is a social networking and regional content platform that is targeted towards the Indian youth. With over 160 million active users, ShareChat is on a mission to connect people in India through its user-generated content, which includes videos, memes, and other posts that are relevant to different regional languages and cultures in the country.
5. Udaan
Founders: Amod Malviya, Sujeet Kumar, Vaibhav Gupta
Total Funding Amount: $1.6B
Founded Year: 2016
Udaan is a B2B trade platform that connects manufacturers, traders, retailers, and wholesalers all under one convenient platform. This innovative idea has disrupted traditional trade practices by making transactions more efficient and cost-effective for all parties involved. The success of Udaan exemplifies the potential for startups to reshape industries in India.
6. Lenskart
Founders: Amit Chaudhary, Peyush Bansal, Ramneek Khurana, Sumeet Kapahi
Total Funding Amount: $1.6B
Founded Year: 2008
Lenskart is an online optical platform that offers a variety of eyewear options. From prescription eyeglasses to branded contact lenses and stylish sunglasses, Lenskart prides itself on being the go-to destination for all things eyewear. What's more impressive is that Lenskart offers an array of styles and brands at affordable prices. Whether you're in the market for a bold statement piece or a more understated classic look, Lenskart has got you covered.
The startup ecosystem in India is vast, with startups operating in over 56 industry sectors. The most popular sectors are IT services (13%), healthcare and life sciences (9%), education (7%), professional and commercial services (5%), agriculture (5%), and food and beverages (5%). - Source: EY
7. CARS24
Founders: Gajendra Jangid, Mehul Agrawal, Ruchit Agarwal, Vikram Chopra
Total Funding Amount: $1.3B
Founded Year: 2015
CARS24 is leading the charge on the Indian startup scene with its innovative and much-needed solution for buying and selling pre-owned cars. The company's tech-enabled marketplace has revolutionized the way people in India approach the process of purchasing a pre-owned vehicle. With the convenience of being able to browse through a wide selection of cars online and the assurance of quality through CARS24's thorough inspection process, it's no wonder that the startup has quickly gained popularity among car buyers and sellers alike.
8. Eruditus Executive Education
Founders: Ashwin Damera, Chaitanya Kalipatnapu
Total Funding Amount: $1.2B
Founded Year: 2010
With a focus on providing global access to executive education programs, Eruditus is empowering business leaders to make a significant impact on their organizations and industries. By partnering with top-tier universities, the company has been able to bring world-class education programs to aspiring executives in India. Eruditus is changing the way executive education is delivered, providing an innovative and comprehensive approach to learning that is helping to shape the future of business in India.
9. Meesho
Founders: Sanjeev Barnwal, Vidit Aatrey
Total Funding Amount: $1.1B
Founded Year: 2015
Meesho is an innovative online reselling platform in India. This unique platform offers an opportunity for individuals to start a business without the need for investment, something that is a rarity in the business world. With a user-friendly interface, Meesho enables individuals to sell products via social media platforms and ease of access to customers.
The total number of tech startups in India is expected to grow 2.6 times from 68,000 in 2023 to 1.8 lakh (180,000) in 2030. - Source: Inc42
10. OfBusiness
Founders: Asish Mohapatra, Bhuvan Gupta, Chandranshu Sinha, Nitin Jain, Ruchi Kalra, Srinath Ramakkrushnan, Vasant Sridhar
Total Funding Amount: $878.1M
Founded Year: 2015
This tech-enabled platform is dedicated to helping SMEs access the raw materials they need to succeed, while also providing them with the credit they need to fuel their growth. By taking advantage of OfBusiness's cutting-edge tools and resources, entrepreneurs can take their ideas to the next level in a way that's intuitive, affordable, and effective.
11. Unacademy
Founders: Gaurav Munjal, Hemesh Singh, Roman Saini, Sachin Gupta
Total Funding Amount: $838.5M
Founded Year: 2015
Unacademy is a transformative startup in India that aims to change the way people learn. With its comprehensive online learning platform, Unacademy provides access to high-quality educational content that spans a range of subjects. Whether you're interested in exploring the intricacies of quantum physics or perfecting your cooking skills, Unacademy has got you covered. With video lectures, examinations, and more, Unacademy is paving the way for a more accessible and personalized approach to education.
12. Razorpay
Founders: Harshil Mathur, Shashank Kumar
Total Funding Amount: $816.3M
Founded Year: 2014
Razorpay provides businesses with a simple and efficient way to manage their payment systems, making transactions faster and more seamless than ever before. By streamlining the payment process, Razorpay is helping to create a more reliable and secure environment for businesses to operate in, while also providing customers with a convenient and hassle-free way to pay for their purchases.
The Unified Payments Interface (UPI) has revolutionized the way people pay for goods and services in India. It has made payments faster, easier, and more convenient. This has opened up many opportunities for startups and e-commerce players to provide innovative solutions for customer experience.
13. CRED
Founders: Kunal Shah
Total Funding Amount: $801.5M
Founded Year: 2018
CRED is a fintech startup that is changing the game for credit card users in India. The platform offers an exciting way to pay off your existing credit card bills, while also earning rewards as you do so. It's not just a smart financial move, but a fun one too. CRED's innovative approach is helping the way people in India manage their credit cards.
14. BharatPe
Founders: Ashneer Seth Grover, Bhavik Koladiya, Shashvat Nakrani
Total Funding Amount: $680.5M
Founded Year: 2018
BharatPe is a financial services platform that is changing the way businesses process payments and offer credit solutions to merchants. Utilizing both UPI and POS methods of payment processing, BharatPe is able to offer seamless and efficient payment solutions to a range of merchants. And with their dedication to providing credit and loans to those who need it most, it's no wonder why BharatPe has quickly become a key player in the Indian startup scene.
15. Zetwerk
Founders: Amrit Acharya, Rahul Sharma, Srinath Ramakkrushnan, Vishal Chaudhary
Total Funding Amount: $662.2M
Founded Year: 2018
Zetwerk is an online marketplace that helps manufacturing companies in India procure customized components of industrial machines and equipment. With their easy-to-use platform, Zetwerk connects large-scale businesses with vendors and suppliers, creating a seamless process that not only improves efficiency but also saves time and money.
16. Xpressbees
Founders: Amitava Saha, Supam Maheshwari
Total Funding Amount: $642.4M
Founded Year: 2015
As an e-commerce logistics company, Xpressbees is not only providing solutions to its partners, but it is also making it easier for consumers to shop online. With the growth of e-commerce in India and the rise of digital payments, Xpressbees has positioned itself as a crucial player in the market. Their dedication to reliable and efficient logistics has helped them to gain a strong foothold in the industry, making them a key player in the startup scene in India.
17. Aye Finance
Founders: Sanjay Sharma, Vikram Jetley
Total Funding Amount: $637M
Founded Year: 2014
Aye Finance is a finance provider that supports micro and small businesses with access to much-needed funds. With a focus on personalized service and innovative technology, Aye Finance is making it easier for entrepreneurs to get access to the funds they need to start and grow their businesses.
18. cult.fit
Founders: Ankit Nagori, Mukesh Bansal
Total Funding Amount: $624.6M
Founded Year: 2016
cult.fit is a health and fitness company that has quickly established itself as a leader in the industry, catering to the growing demand for all-encompassing wellness solutions. Offering a range of fitness, nutrition and mental well-being experiences, cult.fit has become a go-to destination for those looking to prioritize their health and fitness. With a commitment to making wellness accessible and enjoyable, the cult.fit has successfully merged offline and digital offerings, making it easier than ever for people to stay healthy and happy.
Over 9,500 investors have backed Indian startups. This shows the growing interest in the Indian startup ecosystem and the confidence that investors have in the potential of Indian startups. - Source: Inc42
19. Rebel Foods
Founders: Jaydeep Barman, Kallol Banerjee
Total Funding Amount: $564.3M
Founded Year: 2011
Rebel Foods has taken the idea of a "cloud kitchen" - a delivery-only restaurant with no physical storefront - and turned it into a thriving business model. By operating multiple food brands under one roof, Rebel Foods is able to offer a variety of dishes and cuisines to customers across India - all without the overhead costs of a traditional restaurant. With a focus on delivering via online platforms, including their own app, they're tapping into the growing demand for convenience and technology in the food industry.
20. Spinny
Founders: Ganesh Pawar, Mohit Gupta, Niraj Singh, Ramanshu Mahaur
Total Funding Amount: $513.5M
Founded Year: 2015
As the automotive industry in India continues to grow, Spinny has become a well-known name when it comes to buying and selling used cars. With its user-friendly platform, Spinny has made the car-buying experience easier and hassle-free for customers. The advent of the digital era has allowed Spinny to leverage cutting-edge technology such as AI and ML algorithms to provide customers with valuable insights on the cars they are interested in buying.
21. CarDekho
Founders: Amit Jain, Anurag Jain
Total Funding Amount: $497.5M
Founded Year: 2008
As a car search platform, CarDekho is transforming the way people search and buy cars in India. Its goal is to digitize the entire auto ecosystem, making it more accessible and user-friendly for consumers. CarDekho's innovative approach has made it a top choice for car buyers across the country.
22. Licious
Founders: Abhay Hanjura, Varun Sadana, Vivek Gupta
Total Funding Amount: $489.9M
Founded Year: 2015
Licious offers a unique end-to-end business in the meat and seafood industry. With a focus on quality and convenience, Licious has quickly gained popularity among consumers. From the sourcing of the freshest produce all the way to the doorstep delivery, Licious ensures a seamless and trustworthy experience for its customers.
As of May 31, 2023, India has 108 unicorns, or startups with a valuation of over $1 billion. These unicorns have a combined valuation of $340.8 billion. - Source: Invest India
23. Dunzo
Founders: Ankur Aggarwal, Dalvir Suri, Kabeer Biswas, Mukund Jha
Total Funding Amount: $457.6M
Founded Year: 2015
Dunzo is a game-changing startup in India that has transformed the way people shop and get things done. With the easy-to-use hyper-local delivery app, Dunzo connects users to the nearest delivery partner, making delivery seamless and hassle-free. Whether it's groceries, medicines, or even a haircut, Dunzo has revolutionized the way people can access goods and services. The company's success can be attributed to its focus on convenience, speed, and reliability.
24. Urban Company
Founders: Abhiraj Singh Bhal, Raghav Chandra, Varun Khaitan
Total Funding Amount: $445.9M
Founded Year: 2014
This innovative platform is changing the way people book home services. From beauty and wellness to home repairs and cleaning, Urban Company provides a reliable marketplace for freelance labor that caters to all your home service needs. But their services don't just benefit customers. Urban Company is also committed to helping millions of service professionals across the globe to deliver their services right at home.
25. Stashfin
Founders: Tushar Aggarwal
Total Funding Amount: $441.9M
Founded Year: 2016
StashFin is shaking up the traditional banking industry in India with its innovative neo-banking platform. With a focus on delivering seamless, transparent, and efficient financial services, StashFin is on a mission to make banking accessible to everyone. The platform offers a wide range of financial products and services, including personal loans, credit cards, and savings accounts, all available through a user-friendly online interface.
26. ElasticRun
Founders: Sandeep Deshmukh, Saurabh Nigam, Shitiz Bansal
Total Funding Amount: $434.8M
Founded Year: 2016
The company focuses on logistics and distribution, offering a platform that helps businesses access previously untapped markets. With its innovative approach and cutting-edge technology, ElasticRun is quickly gaining a reputation as a game-changer in the industry, empowering both businesses and consumers alike.
27. Livspace
Founders: Anuj Srivastava, Ramakant Sharma, Saurabh Jain
Total Funding Amount: $431.6M
Founded Year: 2014
Livspace is a one-stop shop for people looking to upgrade their homes and connect with professional designers who can transform their space. Livspace brings together a wide range of services and high-quality products to cater to the diverse needs of customers. Whether you want to renovate your kitchen, bedroom, or living room, Livspace has got you covered. This startup has disrupted the traditional home improvement industry by providing a seamless and hassle-free experience with just a few clicks.
India has four startups that have achieved the decacorn status, or a valuation of over $10 billion. These startups are Flipkart, BYJU's, Nykaa, and Swiggy.
28. NoBroker
Founders: Akhil Gupta, Amit Agarwal, Saurabh Garg
Total Funding Amount: $430.9M
Founded Year: 2014
This innovative company has changed the property market by eliminating brokerage fees entirely and offering a seamless experience for buyers, renters, and sellers alike. With NoBroker's intuitive online platform, finding your dream home or investment property is easier than ever before. As India's proptech unicorn, NoBroker is leading the way in disrupting traditional real estate practices and empowering consumers to take control of their own property transactions.
29. Quikr
Founders: Jiby Thomas, Pranay Chulet
Total Funding Amount: $424.2M
Founded Year: 2008
Offering a broad range of services, from classifieds to online marketplaces, Quikr is quickly becoming the go-to destination for those who want to buy, sell, rent or discover anything across the country. In a time when traditional shopping and consumer habits have been upended due to the global pandemic, Quikr has responded by providing a virtual space for people to safely and conveniently conduct transactions from the comfort of their own homes.
30. Groww
Founders: Harsh Jain, Ishan Bansal Dean, Lalit Keshre, Neeraj Singh
Total Funding Amount: $393.3M
Founded Year: 2016
Groww is an investment platform that offers stockbroking and direct mutual funds, making it easy for anyone to start investing with just a few clicks. No longer do you need to be an expert in the stock market or have a financial advisor to make smart investments. Thanks to Groww's user-friendly platform, investors of all levels can easily manage their portfolios and make informed decisions. As more and more Indians turn to digital solutions for their financial needs, Groww is definitely one startup to watch.
Most Asked Questions
1. Is India good for startups in 2024?
India is a land of opportunities and a place where entrepreneurship is flourishing rapidly. With a rapidly growing economy, a vast and talented workforce, and supportive government policies, India is indeed an excellent destination for startups. In recent years, the Indian startup ecosystem has seen an enormous surge in investment, and the trend is only set to continue.
The Startup India initiative is a government program that supports startups through funding, incentives, infrastructure, networking, and awareness. The three flagship schemes of Startup India are FFS, SISFS, and CGSS.
Many successful startups, such as Paytm, Flipkart, and Ola, have emerged from India, proving that the country is indeed a hotbed for innovation and entrepreneurship. From a fantastic investor-friendly climate to a price-sensitive market, there are several reasons why India is good for startups. It is undoubtedly an exciting time to be an entrepreneur in India and take advantage of the opportunities that the nation has to offer.
2. What are the most successful startups in India?
In recent years, India's startup culture has been thriving, with countless innovative and inspiring companies emerging across the country. From transportation to hospitality, e-commerce to social media, India's most successful startups represent a diverse range of industries and interests. Some of the most notable examples include Ola, the ride-hailing platform; OYO, the hotel booking and management platform; Meesho, the online reseller marketplace; and Lenskart, the eyewear e-commerce company. These are just a few examples of the countless startups that have managed to build successful businesses and captivate customers in India's dynamic and ever-changing economy.
3. What are the advantages of starting a business in India?
India is now being recognized as a hub for businesses and entrepreneurship due to the various advantages of starting a business in India. The favorable policies, diverse culture, and skilled labor pool, access to capital, and enormous market potential are some of the key characteristics that make India a lucrative destination for entrepreneurs. The Indian government has introduced several initiatives to encourage startups, offering ease of doing business, tax exemptions, and supportive infrastructure. With over 1.4 billion people, India has an incredible customer base for entrepreneurs to tap into. Also, with a rapidly growing economy, the potential for exponential growth, and the availability of affordable technology, India is a promising destination for startup businesses. In short, the advantages of starting a business in India offer a competitive edge over other countries and give entrepreneurs the opportunity to thrive in a vibrant business ecosystem.