India has established itself as one of the most vibrant startup ecosystems in the world, driven by innovation, a tech-savvy young population, and an increasing influx of investments. With over 68,000 startups as of 2023 and a projected growth to 1.8 lakh startups by 2030, the Indian startup ecosystem is a powerhouse of creativity and entrepreneurship. These startups have not only disrupted traditional industries but have also created new avenues for growth and employment, earning global recognition.
Here, we highlight the top 20 startups that exemplify the spirit of innovation and are reshaping the business landscape in India.
Top 20 Startups in India
1. Ola
Ola is India’s leading ride-hailing platform, providing convenient, affordable, and accessible transportation solutions. From cabs and auto-rickshaws to electric vehicles, Ola has diversified its offerings to cater to a broad customer base. Operating in over 250 cities, Ola has also expanded internationally to countries like Australia, the UK, and New Zealand.
- Founders: Bhavish Aggarwal and Ankit Bhati
- Founding Date: 2010
- Funding Raised: $3.8B
- Valuation: $7.3B
2. Nykaa
Nykaa, an Indian e-commerce platform specializing in beauty, wellness, and fashion products, was founded in 2012 by Falguni Nayar, a former investment banker. Falguni Nayar serves as the Founder, Executive Chairperson, Managing Director, and CEO of Nykaa.
- Founding Date: 2012
- Founders: Falguni Nayar
- Funding Raised: $64.4M
- Valuation: $5.8B
3. boAt
boAt has emerged as a go-to brand for millennials and Gen Z with its stylish, high-quality, and affordable audio products. Its portfolio includes headphones, earphones, speakers, and smartwatches that combine innovative technology with trendy designs. With a strong online and offline presence, boAt has become a leader in India’s consumer electronics market.
- Founders: Aman Gupta and Sameer Mehta
- Founding Date: 2016
- Funding Raised: $228M
- Valuation: $1.4B
4. BharatPe
BharatPe is empowering small businesses and merchants in India by providing seamless digital payment solutions and access to credit. Its unique QR code system accepts multiple payment methods, ensuring convenience for users. The platform has expanded into financial services, offering loans and insurance to help businesses grow.
- Founders: Shashvat Nakrani and Bhavik Koladiya
- Founding Date: 2018
- Funding Raised: $693M
- Valuation: $2.9B
5. CRED
CRED has transformed how Indians manage their credit card payments by incentivizing timely payments with rewards and cashback. It also provides financial tools to track expenses and improve credit scores. With its sleek app interface and exclusive offers, CRED appeals to India’s growing base of creditworthy individuals.
- Founder: Kunal Shah
- Founding Date: 2018
- Funding Raised: $1.1B
- Valuation: $6.5B
6. Delhivery
Delhivery is a logistics and supply chain giant that supports e-commerce and traditional businesses with reliable and efficient delivery services. It offers solutions like warehousing, cross-border shipping, and express parcel delivery. Delhivery’s technology-driven approach ensures smooth operations and customer satisfaction.
- Founders: Sahil Barua, Mohit Tandon, and others
- Founding Date: 2011
- Funding Raised: $1.7B
- Valuation: $3.7B
7. Blinkit
BlinkIt, formerly known as Grofers, is an Indian online grocery delivery platform. It offers quick delivery of groceries and essential items to customers’ doorsteps in minutes, providing convenience and efficiency in shopping.
- Founding Date: 2013
- Founder(s): Albinder Dhindsa and Saurabh Kumar
- Funding Raised: 614M
- Valuation: $568M
8. Urban Company
Urban Company, formerly UrbanClap, connects customers with trusted professionals for a variety of home and personal services. From beauty treatments to appliance repairs, the platform ensures high-quality service with trained professionals and customer reviews. Urban Company operates in multiple cities, providing convenience and reliability.
- Founders: Abhiraj Bhal, Varun Khaitan, and Raghav Chandra
- Founding Date: 2014
- Funding Raised: $626M
- Valuation: $2.8B
9. Zomato
Zomato has become a staple in the food delivery and restaurant discovery segment in India. Its user-friendly app allows customers to order food, book tables, and explore restaurant reviews. Zomato also supports partner restaurants with technology and data insights, helping them thrive in a competitive market.
- Founders: Deepinder Goyal and Pankaj Chaddah
- Founding Date: 2008
- Funding Raised: $2.1B
- Valuation: $5.5B
10. Paytm
Paytm pioneered India’s digital payments revolution with its wallet and UPI services. Today, it offers a wide array of financial services, including lending, insurance, and stock trading. Its easy-to-use platform has attracted millions of users, contributing to India’s push for a cashless economy.
- Founder: Vijay Shekhar Sharma
- Founding Date: 2010
- Funding Raised: $4.4B
- Valuation: $16B
11. Flipkart
Flipkart is one of India’s largest e-commerce platforms, revolutionizing how Indians shop online. It offers a wide range of products, from electronics to fashion, and is known for its innovative features like cash-on-delivery and easy returns. Acquired by Walmart in 2018, Flipkart continues to dominate the e-commerce space, serving millions of customers nationwide.
- Founders: Sachin Bansal and Binny Bansal
- Founding Date: 2007
- Funding Raised: $7.7B
- Valuation: $37.6B
12. PhonePe
PhonePe is a leader in India’s digital payments space, enabling seamless transactions through its user-friendly app. It offers UPI payments, bill payments, and financial services like mutual funds and insurance. With over 400 million registered users, PhonePe plays a significant role in driving India’s digital economy.
- Founders: Sameer Nigam, Rahul Chari, and Burzin Engineer
- Founding Date: 2015
- Funding Raised: $1.5B
- Valuation: $12B
13. Swiggy
Swiggy is one of India’s leading food delivery platforms, connecting customers with their favorite restaurants. Known for its lightning-fast deliveries and extensive reach, Swiggy has expanded its services to include grocery and essentials delivery through Swiggy Instamart. The company continues to innovate with features like drone delivery pilots.
- Founders: Sriharsha Majety, Nandan Reddy, and Rahul Jaimini
- Founding Date: 2014
- Funding Raised: $3.6B
- Valuation: $10.7B
14. Razorpay
Razorpay simplifies online payment solutions for businesses, providing a robust platform for accepting payments, automating payouts, and managing financial transactions. Its innovative approach has made it a favorite among startups and enterprises, enabling smooth and secure payment processes.
- Founders: Harshil Mathur and Shashank Kumar
- Founding Date: 2014
- Funding Raised: $741M
- Valuation: $7.5B
15. Freshworks
Freshworks is a global SaaS (Software-as-a-Service) company that started in India, offering customer engagement solutions. Its products, such as Freshdesk and Freshsales, help businesses streamline customer support and sales processes. Freshworks became India’s first SaaS company to list on NASDAQ, marking a significant milestone.
- Founder: Girish Mathrubootham
- Founding Date: 2010
- Funding Raised: $484M
- Valuation: $13B
16. Lenskart
Lenskart is a trailblazer in the eyewear industry, combining technology with retail to provide affordable and stylish eyewear solutions. From prescription glasses to contact lenses, Lenskart caters to diverse customer needs. Its innovative 3D try-on feature and subscription models have made it a preferred choice for eyewear in India.
- Founders: Peyush Bansal, Amit Chaudhary, and Sumeet Kapahi
- Founding Date: 2010
- Funding Raised: $975M
- Valuation: $4.3B
17. UpGrad
UpGrad has emerged as a leader in India’s edtech space, offering industry-relevant online courses and degree programs for working professionals. Its collaboration with top universities and focus on career outcomes make it a trusted platform for upskilling and higher education.
- Founders: Mayank Kumar, Phalgun Kompalli, and Ravijot Chugh
- Founding Date: 2015
- Funding Raised: $456M
- Valuation: $2.3B
18.Unacademy
Unacademy is a comprehensive learning platform offering live classes, doubt-clearing sessions, and test series across various subjects and exams. Its community-driven approach has attracted millions of students and educators, making quality education accessible to all.
- Founders: Gaurav Munjal, Roman Saini, and Hemesh Singh
- Founding Date: 2015
- Funding Raised: $886M
- Valuation: $3.4B
19. 1mg
1mg is a trusted online pharmacy in India, offering medicines, health products, and lab tests. Its user-friendly app allows customers to order prescriptions, book tests, and access health-related information, making healthcare more accessible and affordable.
- Founders: Prashant Tandon, Vikas Chauhan, and Gaurav Agarwal
- Founding Date: 2015
- Funding Raised: $81.1M
- Valuation: $1.3B
20. Licious
Licious has redefined how Indians buy meat, offering fresh, high-quality products with a strong focus on hygiene and convenience. With its robust supply chain and easy-to-use app, Licious ensures a seamless shopping experience for its customers.
- Founders: Abhay Hanjura and Vivek Gupta
- Founding Date: 2015
- Funding Raised: $488M
- Valuation: $1.0B
Conclusion
India’s startup ecosystem is thriving with innovation, driven by young entrepreneurs, advanced technology, and robust funding. These 20 startups are making a global impact and setting benchmarks in their respective industries. As they continue to grow, they inspire a new generation of entrepreneurs and investors, cementing India’s position as a global startup hub. Which startup inspires you the most?
Let us know in the comments!
