india-startups

10 Best StartUps India 2023

A lot of ambitious entrepreneurs in India have jumped into businesses and tested their ideas. Though some have failed, others have succeeded like champions. India gives startup growth opportunities because it has a large pool of skilled labor, generous funding from national and international investors, and plenty of growth potential. Financial Express reports that start-up funding reached a new high in 2023.

ShareChat

Founded In: 2015
Headquarters:
Funding: $1.7B
ShareChat is a social media platform owned by Mohalla Tech Pvt Ltd. It was founded by Ankush Sachdeva, Bhanu Pratap Singh, and Farid Ahsan in January 2015 and has over 400 million monthly active users in fifteen Indian languages. Mohalla Tech is the parent company of applications such as ShareChat, Moj, and Moj Lite+. In February 2022 it acquired MX TakaTak, one of the largest homegrown short video platforms. The current market valuation of the company is $5 billion.


InterviewBit

Founded In: 2015
Headquarters: Bengaluru, Karnataka, India
Funding: $66.5M
InterviewBit is an online platform that teaches aspiring technology professionals the skills they need to secure challenging software development jobs. With more than a million registered and 300,000 monthly active users, it has built a large and respected industry contacts database. Hundreds of top-tier companies use InterviewBit as their go-to source for finding qualified candidates, including Google, Uber, Amazon, Facebook, Flipkart, Myntra, and Dunzo.


CRED


Founded In: 2018
Headquarters: Bangalore
Funding: $801.5M
CRED is a platform where you can pay your credit card bills and get rewarded for it. The platform has created a new model where users get “CRED coins” when they pay their bills through the CRED app. These coins can later be redeemed for buying any product, entering a contest, or joining any workshop. CRED is based in Bangalore, India, and provides a range of services like credit and a premium catalog of products to its customers. Kunal Shah, the founder, and CEO of CRED, believes that incentivizing people will help improve their financial behavior. According to TechCrunch, CRED is one of the youngest Indian startups to be valued at around $2.2 billion. This 2-year-old startup has more than 6 million customers and about 22% of all credit card holders as of 2017.


PharmEasy

Founded In: 2015
Headquarters: Mumbai, Maharashtra, India
Funding: $1.6B
PharmEasy is an online pharmacy and medical store that specializes in over-the-counter products, diagnostic tests and medical instruments. Founded in 2015, PharmEasy has seen rapid growth in India since then due to the COVID-19 pandemic. It is an online pharmacy with every product you could ever imagine in a physical storefront, making it an essential service during the pandemic. The company’s competitors in India are 1mg and Netmeds. PharmEasy acquired a 100% stake in its rival Medlife. With the merger of both companies, Medlife gets a 19.95% stake in PharmEasy, which has become the first Epharmacy startup to raise unicorn funding in India.


Nykaa

Founded In: 2012
Headquarters: Mumbai, Maharashtra, India
Funding: $215.4M
Nykaa is an online beauty store and fashion e-commerce platform that was founded in 2012. The company offers affordable wellness and beauty products to customers.IInvestors include Bollywood celebrities like Alia Bhatt and Katrina Kaif. Falguni Nayar, the platform founder and former investment banker, has a vision of creating a platform with thousands of product options. Nykaa has more than 55 retail stores and fulfils 1.5 million orders each month.


Udaan

Founded In: 2016
Headquarters: Bangalore, Karnataka, India
Funding: $1.6B
Udaan is a tech-based startup that provides B2B e-commerce solutions was founded in 2016. Started by the former executives of Flipkart, Sujeet Kumar, Vaibhav Gupta and Amod Malviya, it has already attracted a network of more than 3 million happy customers in 900 cities across India. Udaan helps businesses connect with more than 25,000 Indian sellers – which includes some big names like Boat Lifestyle, PepsiCo and LG.


Dream11

Founded In: 2008
Headquarters: Mumbai, Maharashtra, India
Funding: $400M
DREAM 11 is an online fantasy sports platform that now has more than 10 crore users in India. Based in Mumbai, Maharashtra, the company was founded by two young cofounders, Harsh Jain and Bhavit Sheth. DREAM 11 has raised $400 million just before the commencement of IPL 2021. One of the investors is TCV which has also backed the giants like Airbnb and Netflix. DREAM 11 is also India’s first Unicorn start-up as the company’s valuation. The company has grown at a CAGR of 230 percent in the last 3 years.


Meesho

Founded In: 2015
Headquarters: Bangalore, Karnataka, India
Funding: $1.1B
Meesho, a startup founded by IIT-Delhi graduates, is poised to become the go-to e-commerce distribution channel for home entrepreneurs in India. This platform provides sellers with access to consumers through WhatsApp, Facebook, and Instagram. Meesho enables small businesses to sell products online and offers management of logistics, orders, and payments to the sellers. It connects entrepreneurs in Indian cities with more than 13 million consumers.


Groww

Founded In: 2016
Headquarters: Bengaluru, Karnataka, India
Funding: $393.3
Groww is an investment platform that allows its customers to invest in stocks, ETFs, mutual funds, IPOs and more. It offers both mobile applications and web versions. The company was founded in 2016 by 4 former Flipkart employees who noticed how difficult it was to invest in India. This realization led them to start Groww, which has 15 million registered users as of now. According to Groww, more than 60% of the company belongs to smaller cities in India that have never invested before. As per one of the co-founders, Lalit Keshre, Groww is used across India and not just in metro cities. The users are spread across all the major cities of India who are working class, young and want to invest their hard-earned money.


Skit.Ai

Founded In: 2016
Headquarters: Bengaluru, Karnataka, India
Funding: $25M
Skit.ai now, Vernacular.ai is a leading AI-First SaaS business that provides speech recognition and voice assistants as a service to the banking, food and beverage and hospitality industries. Their services are designed with little human interference, meaning that they can handle complex servicing issues with ease.


Conclusion

These are some of the startups in India that are doing really well. These are inspiring new entrepreneurs to start their own ventures.

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