India is an incredibly unique environment for start-ups and entrepreneurship in general where the Indian start-up ecosystem is said to be the third-largest in the world and continues to attract investors from all over as business opportunities grow. Let’s have a look at these top Indian start-ups which are doing it great right now:
- Flipkart
Flipkart was founded by Sachin Bansal and Binny Bansal, who were both IIT alumni’s and formerly worked for Amazon. They started the corporate as a small book e-retailer focused on online book sales with country-wide shipping. Later they expanded to other categories like apparel, electronics, etc. By 2008 Flipkart grew slowly by receiving 100 orders per day. In 2012, they unveiled its DRM-free online music store named Flyte , However, the service was unsuccessful due to the competition from free streaming sites. In honour of the company’s anniversary and therefore the Diwali season, Flipkart held a serious sale across the service that’s promoted as “Big Billion Day”. The event generated a surge of traffic, selling US$100 million worth of products in 10 hours. By 2017 Flipkart held a 51% share of all Indian smartphone shipments overtaking Amazon India, where both of them had a neck and neck competition. At present; Flipkart is valued at $17B and amongst the highest 10 e-commerce companies within the world. Recently US retail giant Walmart successfully acquired Flipkart for $16B..
2. Oyo Rooms
OYO Rooms was founded Ritesh agarwal , by the then 18-year-old college dropout from a town in Orissa. Inspired by his sister’s words he decided at the age of 8, that he wants to be an entrepreneur. Having sent for education to Kota in Rajasthan, he experienced budget hotels in Delhi and its neighborhood and thus formed Oravel Stay, a start-up to market home stay in 2012. During that time, Ritesh managed to succeed and became one among the ten winners of The Thiel Fellowship – a worldwide contest intended for college students under the age of 20, where he received a sum of $100,000 to make a start-up, from PayPal co-founder and Facebook investor – Peter Thiel. This accelerated his business but to his hard luck, the business model didn’t seem to be picking up. But he didn’t get demotivated and eventually he presented a replacement business model and in 2013 he re-launched Oravel as “OYO Rooms”.And at present OYO is across 259 cities with around 173,000 hotel rooms in India. It operates hotels, homes, living and coworking spaces in 500 cities across 10 countries with 18,000 franchised or leased hotels in its chain, accounting for quite 515,000 rooms.
3. Ola (ANI Technologies Pvt Ltd)
Hiring cars for city travel has always been a difficult task in Indian society. Stuck in a similar situation, abandoned in the middle of the road by his cab driver, he decided to seek out an answer to the problem. In 2011, Bhavish Aggarwal along with Anik Bhati founded Ola Cabs in Bengaluru, where Bhavish previously worked as an Assistant Researcher in Microsoft. He also had a web company which addressed selling short duration tours and holidays before starting Ola. By 2014 Ola cabs spread to quite 100 cities pocketing a network of quite 200,000 cars. With a base price of Rs.150 for the primary six kilometres and an introductory price of Rs. 12 per kilometre, Ola became the most cost- effective AC cab service. In 2015 Aggarwal and Bhati were the youngest to be included therein year’s list of richest Indians. As of 2019, the corporate has expanded to a network of quite 1,500,000 drivers across 250 cities.
4. Byju’s
BYJU’S – the learning App is a Bangalore-based EdTech and online tutoring firm founded in 2011 by Byju Raveendran.What began as an easy e-learning platform has grown into one among the world’s largest Edtech brands. Byju Raveendran was born in Kerala, an engineer by profession and was working for an MNC in Bangalore. He used to help his friends in preparation for the CAT exam as he was good at mathematics.
In no time, ‘Byju’s classes’ became so popular that he has got to quit his job. His classrooms grew from one room to a hall, then to an auditorium and at one point even to a stadium. In 2011 he founded an academic company with the assistance of his students offering online video-based learning programs for the K-12 segment and competitive exams. In August 2015, after 4 years of developments, the firm launched BYJU’S the learning App. The app was downloaded by quite 2 million students within the primary 3 months since its launch. By December 2016, the app became one among “Best Self Improvement” apps at Google Play India rating.
The company said that in April 2019, BYJU’S crossed INR 200 Cr in monthly revenue and became the world’s most valued Edtech company at $5.4 billion (Rs 37,000 crore). Shah Rukh Khan is that the brand ambassador for BYJU’S and recently BYJU’S acquired the Indian cricket team’s jersey rights.
5. Paytm
Paytm was established in August 2010 with an underlying speculation of $2 million by its originator Vijay Shekhar Sharma in Noida, It began as a prepaid portable and DTH energize stage, and later included information card, postpaid versatile, and landline charge installments in 2013.
By 2014, the organization propelled the Paytm Wallet, and the Indian Railways and Uber included it as an installment alternative and later divulged more use-cases like training expenses, metro revives power, gas, and water charge installments. In 2016, Paytm propelled motion pictures, occasions, and entertainment meccas ticketing just as flight ticket appointments and Paytm QR .Later that year, it propelled rail appointments and gift vouchers. In 2017, Paytm turned into India’s first installment application to traverse 100 million application downloads. As of November 2019, Paytm is esteemed at $16 billion and its wanting to dispatch its IPO in 2022.
According to the organization, more than 7 million shippers across India utilize this QR code to acknowledge installments straightforwardly into their financial balance.
Author : Meric Issac
