Startups in India to look at:
Flipkart was started with a mere investment of Rs. 400000 raised through venture capital funding. The company has also raised $1 million in 2009 from Tiger Global which is New York-based private equity company and largest investor in the company. In March 2014, its GVM (gross merchandise value) was reported to be $1 billion. Further, Flipkart plans to raise at least $5 billion through IPO listing in NYSE-New York-Stock Exchange; this will not only increase the company value over $30 billion but also be the largest public offering by Indian business.
The receiver of the Entrepreneur of the Year Award 2012-2013, Mr. Sachin Banssal- co-founder of Flipkart- acknowledged that starting Flipkart was the most insane thought he had ever brought to life. Now that the e-commerce market in India is booming, what sets Flipkart different from its counterparts is excellent quality service that includes pre- and post-sales experience and availability of all categories of products.
Sachin Banssal and Binny Banssal left their job at amazon.com with an idea to start their own e-commerce venture at the time when Indian e-commerce industry was just a toddler. Innovation has been in the heart of Flipkart right from the start of the business; Flipkart initially started with selling books and later expanded its sales to the wide variety of goods. Flipkart introduced cash on delivery, payment by card on delivery amongst others to tackle the problem of online payment which was in a rudimentary stage in India. This alternative payment system was first introduced by Flipkart which set a trend among other e-commerce giants and other online platforms to follow its footpath. Flipkart has acquired a few companies like LetsBuy.com, Myntra.com etc., to improve their market presence. The interesting part is that in the Indian market Amazon.com is facing tough competition from Flipkart, which was established by its own employees.
2. Hike Messenger - instant messaging app
Hike Messenger topped the list of ‘top free app’ on Android and iOS store across India in July 2014. Started in December 2012, the company witnessed the growth of its users to 15 mln in Feb 2014 and 20 mln in Aug 2014. The app boasts adding 300 mln new users daily.
Hike is praised for its extraordinary User Interface. Being the homegrown app, it has the ability to understand the Indian market like no foreign app has. Hike provides an ability to its users to connect through Free Hike SMS with those people who have no smartphones. The user can choose and decide whom to show the ‘Last Seen’ status. The local stickers and two-way chat themes add to its popularity.
Hike creator Kavin Mittal explains that Indian market can be segregated into 3 broad demographics: first part – 30-40 mln people- well aware of tech development and actually having access to it, second part - 150 mln people - recently introduced to and slowly experimenting with the Internet but it is still not their thing, third part – about 1 billion people having no idea of what the Internet is; this 1 billion people is what Hike wants to target with its unique features.
The restaurant search and discovery service Zomato was founded by Deepinder Goyal and Pankaj Chaddah in 2008. Initially known as Foodiebay (until November 2010), its website has the scans of the menus from different restaurants. SmartTechie Magazine listed Foodiebay among the top 25 most promising Internet companies. Info Edge invested US$ 1million in the business initially. In the rest round of funding the company received funding of US $3.5M, $2.5m, and $10m. As per 2014 data, Zomato has a list of around 200,000 restaurants in 35 cities across 11 countries.
Webengage is the multi-channel user engagement platform that allows e-commerce clients to target their site visitors to provide various offers, online promotions and surveys to them. In 2012, the company raised $500,000 from GTI Capital Group, India-focused Investment Company. The company provides various cheaper packages including free trial goods for 14 days. The ability of the tool to push the real-time offers and discounts, and easy-to-use interface has made it stand out in the Indian market and go global. This video explains the work of Webengage more vividly.
Zoom is the first car rental company in India, which gives its users the option of self-drive along with the facility of renting cars by hours, weeks, or months. Zoom is known for its mobility, independence and convenience. The company, which was established in February 2013, now operates in 9 different cities with more than 1600 vehicles. Partnering with manufacturing giants like Ford and Mahindra, Zoom has introduced an electric vehicle and Eco sports vehicle.
Ola is taxi-hailing company, which model is similar to Uber’s one. Ola was established on 3rd December, 2010. Currently, the company has more than 200,000 cars across 85 cities. As of 2015, Ola’s valuation was equivalent to $5 billion. The company provides the service including hatchbacks, sedans, three wheelers and even luxury cars. Ola acquired Geotag and TaxiForSure- both taxi hailing company - in 2015. TechinAsia.com has ranked it in Top 15 well-funded startups in India. Investors of Ola includes Softbank capital, Tiger Global Management and Sequoia capital.
Faircent is the marketplace for the borrowers and the lenders. Borrowers and lenders register in the website and interact with each other to get into agreement regarding lending and borrowing. Faircent has set the target of disbursing loans over Rs 2,000 crore in next 4 years in over 200cities.
8.iYogi – IT-related company
iYogi operates in multiple countries. iYogi is the information technology company that provides online subscription-based technical support for the personal computers, peripherals, connected devices and software applications. The company is often praised for its low cost and polite staffs but has in recent days faced allegation of promoting technical support scam. It is also one of the best funded startups in India.
Exotel is the cloud telephone company. Basically, it helps the businesses to manage the phone system like IVR, call recordings etc. Exotel is one of the largest company of its type in India. Some of the features of Exotel are real-time notifications, multi-level IVR, call recordings, actionable insgingts, call analytics among others. The video attached shows how extol works.
Urban Ladder is online furniture and home décor marketplace. The company was started in 2012 and currently is present in 19 cities of India. The company generated seed capital of $ 1million from Kalaari Capital. Recently, company secured $50 million in funding from Sequoia Capital and TR Capital. The website acts as one place destination for high quality, handcrafted furniture. The company bagged Best Digital Start-Up award given by Internet and Mobile Association of India.
The image in profile is taken from startupsuccessstories.com
The images in content are the screenshots of the respective websites.
Do you know other cool Indian startups? Tell about them in the comments for the world to know about them!