In this article, we share the best startups in India, everything about the startup business method, founders, headquarters, annual revenue, and fundraising.
India’s startup economy has been growing since 2016; as per the data statistics, over 127 thousand startups have been officially recognised by the Department for Promotion of Industry and Internal Trade.
There are a lot of startups founded in India. Still, we are just including the five best startups in India that are ruling Indian customers’ hearts and their devices.
These five Indian startups are ruling in India. Their financial year revenues are growing rapidly in green colour on the analytics financial graph. Many startups in India are making a profit, and they are scaling their businesses with funding from institutional investors and angel investors.
Here below are the top 5 best Startups in India:
Zepto is a grocery delivery app that promises to deliver groceries in just 10 minutes. They have over 5000+ products.
Zepto is not the only grocery delivery app in India; there are competitors available, such as Swiggy Instamart and Blinkit, which are big competitors of Zepto.
To deliver the products in 10 minutes or quickly, they arrange their cloud shops or micro warehouses in the urban cities; from the cloud shops, the delivery person picks up the parcel and puts it out for delivery.
This Zepto company was founded by two friends who left their studies at Stanford University in the middle of the year. This Zepto company has been listed as the best startups in india.
The two founders of Indian Startup Zepto are:
Aadit Palicha earlier founded GoPool when he was just 17. In 2020, he and his friend Kaivalya founded KiranaKart and Zepto in 2021.
These founders got the Idea of online grocery delivery when the COVID lockdown started when everyone was stuck at home, not stepping out. They both joined Y Combinator Grade 2021 and started the Zepto.
The present valuation of the Zepto in 2024 is $5 billion.
Zepto Headquarters was previously in Mumbai, Maharashtra, but it has now shifted to Bangalore, Karnataka. This startup company in India has now raised a fund of $340 million led by an American venture capital firm, General Catalyst.
Pocket FM is an online audio entertainment platform founded by three founders of IIT Kharagpur batchmates. Pocket FM was founded in 2018; the headquarters of Pocket FM startup is in Bangalore, Karnataka.
The three founders of Pocket FM Indian Startup are:
This Pocket FM app offers short-form type audio content, including long-form stories, audio series, and dramatised fiction with different genres like thriller, fantasy, and science fiction in various regional languages and International languages like English and Hindi and several Indian languages such as Tamil, Telugu, Malayalam, Bengali, Kannada, and Marathi.
Pocket FM has over 130 million listeners worldwide, who spend an average of over 115 minutes every day. In December 2023, Pocket FM had an annualised revenue rate of $150 million.
This online audio platform is trying to expand its business and increase the number of users in Europe, Latin America, and the United States. Pocket FM offers over 100,000 hours of audio, including over 2,000 exclusive audio series and more than 400,000 episodes.
BoAt is India’s leading earphone wearable brand that sells audio-related and other electronic products like wireless speakers, earbuds, headphones, and earphones.
The main mantra behind the success of Boat Indian Startup is innovative designs, high quality, and reasonable prices, which are very affordable to lower and middle-class people.
The boat was founded in the year 2016 by two founders, they are:
The headquarters of the wearable brand Boat is in Gurgaon, Haryana, India. The Parent company of Boat is Imagine Marketing Pvt. Ltd.
Boat started by manufacturing cable products and has now totally shifted to marketing wearable electronic gadgets like earphones, watches, earbuds, and more. BoAt began with an initial capital of about Rs 30 lakh from a bootstrapped firm.
This wearable startup brand, boAt, grew huge profits in 2017. Its revenue was Rs. 27 crore, and in 2018, its revenue grew to Rs 108 crore.
This startup in India now has tough competitors like OnePlus, Bose, Jabra, Realme, Boult, Hammer, and many more.
As per the Statista Market Research platform analysis, “the Indian consumer electronics industry is expected to generate US $73.0 billion in revenue in 2024”.
BoAt products are available on several platforms, both online and offline outlets, including e-commerce platforms SnapDeal, Croma, Myntra, Amazon, Paytm, and Flipkart.
From 2023, boAt experienced some struggles, including lower sales and financial revenue. Even though sales are down, we, thewebverge, picked boAt as the best startups in India because they will soon get into the profits track as it is one of the leading companies in electronic wearable devices.
Groww is an online mutual fund and stock trading platform that is available on both the app and website. Groww’s investment platform allows users to make multiple investments like stocks, mutual funds, futures, options, and intraday trading.
Groww was founded in April 2016, with limited features. In May 2017, they started with mutual funds on their website with small numbers of customers. In December 2017, they entered capital market offerings, which included more features such as stocks, futures & options, and initial public offerings.
There is an interesting story about the founding of the Groww platform because Flipkart’s ex-employees started it. Not one, not two; there are four founders of Groww.
The founders of Groww are:
There are many of Groww’s competitors right now, even though Groww is performing very well in the market. Groww’s leading competitors are Zerodha and Upstox.
The company grabbed the $83 million worth of its series D funding round led by Tiger Global Management, which helped it turn into a unicorn startup in the year 2021.
Zerodha is one of the oldest stock trading investment companies. Still, Groww crossed Zerodha and became the top platform in stock investment platforms. That’s why we picked Groww as one of the best startups in India.
Groww has grown rapidly year by year. Their Financial year growth is just awesome.
From November 2023, Groww also started offering Instant loans to customers who have good CIBIL scores. The best part of Groww is that it provides demat account opening free of charge and customers can trade US stocks.
The present valuation of Groww is $3 billion.
BluSmart is leading India’s electric transport commute. Online web and app-based platform that helps people book a cab online, which is run on electricity, not on fuel like diesel or petrol.
This Indian startup EV provides reliable, affordable, and emission-free rides; it has intelligent routing technology and eco-friendly electric cars, which are most loved by customers who are experiencing BluSmart rides.
BluSmart was founded in January 2019 by three Indian founders, and they are:
Blusmart Electric Mobility raised a fund of $154M over 14 rounds. Its first funding round was in 2019. Till now, it has over 2.4 million users who have downloaded the Blusmart app on both iOS and Android. And completed 1 million rides across Delhi-NCR.
The firm crossed Rs 550 crore in annualised revenue. It currently runs 7,500 electric vehicles across the country and employs over 9,800 cab drivers. The company’s headquarters is in Gurugram, Haryana.
Like every startup here, BluSmart has tough competitors who have already been in the online cab business over the years, like Ola and Uber. The new competitors are Rapido and Namma Yatri.
The EV company raised $24M Series A on Jul 15, 2024, and the annual revenue of 2023 is $8.84M as of Mar 31.
There are many investors, institutional investors, and angel investors who are investing in BluSmart. BP Ventures is the largest institutional investor in BluSmart.
All of the above mentioned top 5 best Indian startups are founded by Indians only, and these companies fund foreign investors. All the startups that are growing are helping the Indian GDP to expand and enlighten the name of India all over the world.
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