Top startups in India-2024

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  1. CRED
    Established in 2018, CRED serves as a platform for convenient credit card bill payments with added rewards. By utilizing the CRED app, users earn “CRED coins” when settling their bills, which can later be redeemed for a variety of purposes, including purchasing products, participating in contests, or joining workshops. Headquartered in Bangalore, this startup not only offers credit services but also boasts a premium product catalog. CRED’s unique approach aims to encourage positive financial behavior. TechCrunch reports that, at just two years old, CRED is valued at approximately $2.2 billion, making it the youngest Indian startup to achieve such a valuation. With over 6 million customers, constituting about 22% of credit card holders, CRED is making waves by targeting affluent customers and planning expansions beyond mere reward coin offerings.
  2. Vernacular.ai
    Founded in 2016, Vernacular.ai is an AI-First SaaS business striving to become the global leader in voice automation and AI platforms. Catering to industries such as banking, food and beverage, and hospitality, Vernacular.ai distinguishes itself by offering speech recognition and voice assistant services with minimal human interference. Economic Times notes the company’s plans to hire 100 people in 2021, signaling growth and fortification of its leadership team. With a fourfold increase in its workforce despite industry challenges, Vernacular.ai, backed by industry veterans like Gangadhar Kodandaram and Ankit Jain, positions itself for significant expansion in the burgeoning fields of voice and automation technologies.
  3. PharmEasy
    Launched in 2015, PharmEasy has emerged as a leading online pharmacy and medical store in India. Specializing in over-the-counter products, diagnostic tests, and medical instruments, the Mumbai-based company has experienced remarkable growth, particularly during the COVID-19 pandemic. Following a merger with Medlife, PharmEasy secured $350 million in funding, becoming India’s first ePharmacy unicorn. The strategic partnership aims to fend off competition from new entrants like Reliance Jio, Flipkart, and Amazon Pharmacy. With plans to reach over 100,000 pharmacies in new geographical markets, PharmEasy’s founders, Dharmil Sheth and Dr. Dhaval Shah, are set on consolidating their position in the evolving health tech landscape.
  4. Digit Insurance
    Established in 2016, Digit Insurance positions itself as a disruptor in the insurance sector by simplifying products for a broader audience. Notably backed by celebrity investors Virat Kohli and Anushka Sharma, Digit Insurance achieved breakeven in 2020, defying industry trends. Despite challenges posed by the pandemic, the company expanded its business by 30%, receiving accolades like “Hottest Startups in India 2019” and “Asia’s Best General Insurance Company of the Year 2019.” With a focus on utilizing funding for further technological advancements and business growth, Digit Insurance, chaired by Kamesh Goyal, stands out for its resilience and innovative approach.
  5. Meesho
    Founded in 2015 by IIT-Delhi graduates, Meesho functions as a reseller platform, evolving into a prominent e-commerce distribution channel. Valued at $2.1 billion after securing $300 million in funding, Meesho connects small businesses with consumers through platforms like WhatsApp, Facebook, and Instagram. With a network of over 13 million entrepreneurs in various Indian cities, Meesho facilitates the sale of products ranging from groceries to home and kitchen appliances. Positioned against competitors like GlowRoad and Dealshare, Meesho capitalizes on the growing trend of social commerce, targeting a substantial share of the expected 55%-60% growth in the Indian market.
  6. Groww
    Established in 2016 by ex-Flipkart employees, Groww is an investment platform enabling users to invest in stocks, ETFs, mutual funds, IPOs, and more. Having amassed over 15 million users, with a notable presence in smaller cities, Groww secured $83 million in funding in 2021, achieving unicorn status. With a focus on diversifying products, hiring talent, and creating educational platforms for investors, Groww positions itself as a user-centric platform catering to a broad demographic eager to invest their earnings.
  7. Nykaa
    Founded in 2012, Nykaa has become a prominent online beauty store and fashion e-commerce platform, offering wellness and beauty products at competitive prices. With a valuation of $1.2 billion after raising $25 million in March 2020, Nykaa, founded by Falguni Nayar, stands out with its vision of providing a vast product range. Boasting more than 55 retail stores, 5 million monthly active users, and a foray into apparel with Nykaa Fashion and intimate wear with Nykd, Nykaa aims to tap into the anticipated 9% CAGR growth in India’s online beauty market.
  8. Udaan
    Founded in 2016 by former Flipkart executives, Udaan is a tech-based startup offering B2B e-commerce solutions. Achieving unicorn status in a short span, Udaan connects over 3 million users in 900 cities, facilitating the collaboration of more than 25,000 sellers. With a recent funding injection of $280 million, the company, valued at over $3.1 billion, is navigating B2C markets with the Pickily app. Positioned against competitors like Big Basket, Swiggy Stores, and Flipkart, Udaan leverages the accelerated digitization of India’s unorganized trade retail industry.
  9. DREAM11
    Established in 2008, DREAM11 is an online fantasy sports platform that has grown into India’s first unicorn startup. Founded by Harsh Jain and Bhavit Sheth, DREAM11 boasts over 100 million users and a valuation of $5 billion. The platform’s success is underscored by its impressive CAGR of 230% over the last three years, fueled by the growing popularity of fantasy sports in India. With $400 million raised just before IPL 2021, DREAM11 positions itself as a pioneer in the fantasy gaming industry, aligning with the substantial growth observed in the sector.
  10. Swiggy
    As India’s largest food delivery platform, Swiggy, headquartered in Bangalore, has evolved into a household name, serving 27 cities with partnerships with over 40,000 restaurants. Recently securing $800 million in funding, Swiggy’s valuation has soared to nearly $5 billion. Since its inception in 2014, Swiggy’s customer-centric approach has propelled it to the unicorn status, overcoming challenges and outshining competitors in the fiercely competitive food delivery sector. The company’s growth, from five delivery boys and 25 restaurant partners to a user base of 50 million, positions it as a remarkable success story in India’s startup landscape.
  11. Instamojo
    Positioned as the “simplest payment solution,” Instamojo has revolutionized the landscape by providing small enterprises with accessible web and mobile distribution channels. This startup, founded with the aim of reducing entry barriers for businesses, offers e-commerce tools and features that facilitate up-selling and cross-selling. Instamojo’s innovative approach has empowered small enterprises to navigate the online market with ease, contributing to the growth of numerous businesses.
  12. Postman
    Postman, an API platform founded to streamline the creation and utilization of APIs, has played a pivotal role in enhancing collaboration and simplifying the entire API lifecycle. By improving the design process and expediting API development, Postman has become an essential tool for developers, promoting efficient communication and cooperation in the realm of API utilization.
  13. Delhivery
    Delhivery, a comprehensive supply chain management firm, specializes in transportation, warehousing, freight, and order fulfillment. Founded by Bhavesh Manglani, the company has emerged as a key player in India’s logistics sector. By providing end-to-end solutions, Delhivery has facilitated seamless operations for businesses, contributing significantly to the efficiency of the supply chain ecosystem.
  14. Slice
    Slice, a FinTech startup, has garnered attention with its focus on providing stylish and affordable electronic goods. Backed by prominent investors like Tiger Global Management and Insight Partners, Slice has raised $270 million in funding. The company’s commitment to offering innovative solutions in the financial technology space positions it for continued success in the rapidly evolving market.
  15. InMobi
    Established in 2011, InMobi became India’s first unicorn startup. With offices in 22 locations across 12 nations, InMobi offers a Native Ads platform that enables mobile publishers and app developers to deliver engaging and contextually relevant native ad experiences. Backed by investors such as Soft Bank, Kleiner Perkins Caufield & Byers, and Ram Shriram’s Sherpalo Ventures, InMobi continues to be a significant player in the mobile advertising industry.
  16. Practo
    Practo, a health tech startup founded in 2008 by Abhinav Lal, has transformed healthcare accessibility by helping consumers find the best doctors, book instant appointments, and make informed health decisions. With a focus on leveraging technology for better healthcare outcomes, Practo has become a trusted platform for individuals seeking medical services.
  17. Boat
    Founded in 2016 by Aman Gupta, Boat has made a mark in the Indian market by offering stylish and affordable electronic goods. The company’s success lies in its ability to attract customers with innovative products, contributing to its prominence in the consumer electronics sector.
  18. Skyroot Aerospace
    Skyroot Aerospace, founded in 2018 by former ISRO scientists Pawan Kumar Chandana and Naga Bharath Daka, stands as India’s first private space launch startup. Specializing in commercial launch services and the development of the Vikram series of rockets for small satellites, Skyroot Aerospace plays a crucial role in advancing India’s capabilities in the space industry.
  19. LivSpace
    Founded in 2014 by Anuj Srivastava and Ramakant Sharma, LivSpace is an interior design startup that has emerged as India’s fifth unicorn. Offering restoration and interior design services, LivSpace caters to the growing demand for personalized and aesthetically pleasing living spaces.
  20. Ather Energy
    Ather Energy, headquartered in Bangalore, is an Indian electric vehicle manufacturer founded in 2013 by Tarun Mehta and Swapnil Jain. With successful sales of 3,677 units, Ather Energy has positioned itself as the fourth-best-selling two-wheeler EV in India during the first half of 2021. The company’s focus on electric vehicles aligns with the global shift toward sustainable transportation solutions.

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