7 Best Tech based start-ups in India that transformed into successful companies
In this age of digitalization, Internet speed and mobile data have reached a new level. This has been the reason why most of the Indian start-ups have risen to a billion-dollar mark. The average time in which a company reaches a billion-dollar mark is around 5-7 years in India and this number is improving rapidly. These 7 start-ups in India had crossed the mark of $1B recently and are emerging in their respective industry.
- Policy Bazaar
This is an online insurance company that recently turned a billion-dollar company is last June while raising around $200M from Softbank. Founder of policy bazaar said that most of the funding will be invested in the latest telemedicine business and DocPrime.
This company is around 11 years old and soon will go for an IPO. They plan to expand in the healthcare sector where they will be launching a platform where customers can have free access to any doctor’s consultation and other services like hospital subscription with health insurance.
- Paytm Mall
This is a widely known platform for digital payments but they also launched a mall for retailers to sell online in the year 2016.
They have risen $450M and valued over a billion last year. The company has decided to use these funds to improve customer and buyer experiences by improving its technology. They also launched a service where a person can walk into a store and by scanning the QR-code they will get all the information of that product and later on they can purchase it by paying through paytm.
After the success of ‘Zoho’ a leader in the software industry, freshworks have emerged as a unicorn in the software industry. They provide customized office suites for the effective working of the organizations. They received an investment of $100M from Sequoia Capital, CapitalG and Accel partners and now they are valued over a billion.
This Chennai based company has over 1, 50,000 clients from 127 countries including businesses like Honda, Cisco, Hugo Boss, and Toshiba. With new and energetic staff they are planning for IPO.
Oyo is a popular hotel booking platform, it is one of that start-up which has risen quickly to the heights of success. They had raised around a billion from the existing investors last August for developing the application and expanding business through opening their properties.
They are expanding in other countries as well like China and the market of west Asia as they plan to invest $600M in China.
They are already doing business in Malaysia, Nepal and the U.K. They have opened many services like Oyo homes for small-term rent, Oyo townhouse for premiums and resorts as well across countries. They are also getting into the event management business.
Udaan was founded by three friends Sujeet Kumar, Vaibhav Gupta and Anmol Malviya, who were formerly working in Flipkart. It is a platform for small businesses so they can connect with the traders, wholesalers, retailers, and manufacturers.
They are operating in over 80 cities and planning to expand up to 500 cities. Most of the retailers and traders on udaan sell in the category of mobile accessories and fashion items; they are planning to onboard more new and variety of sellers.
They had raised around $300 from Lightspeed Ventures and DST Global as an investment for their plans.
Byju’s-the learning app is a Bangalore based company under the brand of Think and Learn Pvt. Ltd. As the name says, it’s an online tutoring company operating on edtech (education technology). It was founded by Byju Raveendran in the year 2011.
Being the most valued education tech company in the world, they have Shah Rukh Khan a popular Bollywood star as their brand ambassador and in July 2019, BYJU’s also acquired the rights of Indian cricket team Jersey.
- Big basket
It is known to be the biggest online grocery market in India. Big basket was launched in the year 2011 when e-commerce was at a rise in the country. It was founded by Abhinay Choudhari, V.S. Ramesh, Hari Menon, Vipul Prakesh and V.S. Sudhakar in Bengaluru. They operate in various cities like Delhi, Mumbai, Chennai, Hyderabad, Noida, Kolkata, Lucknow, Mysore, Ahmedabad-Gandhinagar, Vijaywada and many more.
It was launched for the public who were busy and lack time to buy groceries and other essentials for home, they gave them an easy option to order anything and at anytime from an application in their phone.
They offer various categories in food and grocery shopping like fruits, grains, vegetables, eggs, meat, personal care items, beverages and many more and they have a product listing of 18,000 across categories.
They promise to offer the lowest price for any grocery and amazing delivery service in various cities of the country.