Two sources familiar with the plans have informed Reuters that Costco Wholesale Corp., a US retailer, will establish its inaugural technology centre in Hyderabad, India. According to insiders, the Global Capability Centre (GCC) will hire 1,000 individuals at first and grow as it manages technology and research operations and collaborates with international teams.
Over the past few years, GCCs—once low-cost outsourcing hubs for multinational corporations—have changed and are now utilised to assist their parent companies in a variety of areas, such as everyday operations, finance, and research and development.
India’s Booming GCC Landscape: A Global Magnet
Some of the world’s most well-known brands already operate in India, including GCC names. This includes businesses like JPMorgan Chase, Walmart, and Target in Bengaluru, as well as McDonald’s, Heineken, and Vanguard Group in Hyderabad.
According to a report published late last year by the IT industry association Nasscom and consulting firm Zinnov, the market size of India’s global capability centres (GCCs) is anticipated to increase from $64.6 billion in fiscal 2024 to $99 billion to $103 billion by 2030.
Swedish Firms Strengthen Footprint in Indian Market
The relationship between New Delhi and Stockholm is closer than ever thanks to the growing opportunities for commercial investment in India and the regular bilateral visits from top leaders over the years.
After China and Japan, India is currently Sweden’s third-largest trading partner in Asia. Swedish businesses have significantly increased their presence in India over the past ten years. Approximately 86% of Swedish businesses reported that India’s business environment was encouraging and helpful, according to the India Business Climate Survey, 2023.
Additionally, the Indian government’s many efforts to facilitate the flow of FDI are essential in opening up a plethora of commercial opportunities for Swedish SMBs. India and Sweden celebrated 75 years of diplomatic ties in 2023, and in the years to come, both countries hope to deepen their current business engagement and collaboration.
Tobias Billström, the Swedish Foreign Minister, spoke to more than 100 business leaders in Bengaluru, India’s largest technological hub, in February 2024. The Confederation of Indian Industry (CII) and the Swedish Embassy hosted the meeting, which emphasised Sweden’s dedication to extending its commercial presence in India and the increasing significance of Swedish businesses in that country.
At the moment, the Swedish business community in India is represented in industries such as fashion, healthcare & pharmaceuticals, IT & telecom, retail & e-commerce, and renewable energy.
Atlas Copco, Astra Zeneca, Volvo Group, Electrolux, IKEA, H&M, SSAB, Autoliv, Spotify, and Truecaller are just a few Swedish businesses that operate in India. In addition to having production, distribution, and service facilities in India, several of these businesses have made significant investments in marketing, sales, and research and development.
Unbeknownst, the falling Indian currency 78 INR mark rate against the US dollar for the first time helped Indian marketers, that is, somehow created a smooth way to one step ahead in achieving the fifth-largest economy in India.
As we know to excel in the business challenges, startups must take necessary actions in evolving tech, a shift in consumer preferences by adopting new product strategies, and frame objectives according to economic policies.
Some Indian unicorns overcame the following challenges as they introduced indulgent, efficient, and customer-centric products. In this regard, India ranks as the third largest unicorn-producing country in the world, with 106 unicorns competing against the USA and China.
Indian Cities With Their Unicorn Count: A Total of 106 Unicorns
According to IMF sources, India has surpassed the UK in the final three months of 2021 to become the world’s 5th largest economy, following the USA, China, Japan, and Germany in 2022.
Known for being the key pillar of the Indian economy, India’s startup ecosystem is a kick start to GDP growth, whereby the country achieved the milestone of 100 unicorns in May 2022.
The above graph shows the countries with the maximum number of unicorns (2022) as per the data shown by Google
Bangalore
We immediately conjure up an image of the country’s IT hub whenever we hear “Bangalore”, don’t we? Bangalore, as we all know, is a happening city in India with many tech-based companies and growing career opportunities. Bangalore is home to 43 unicorns out of 106 in India.
The city has a nurturing ecosystem that is known for its IT sector and ability to build top tech brands. By leveraging talented fellows, adopting cutting-edge technology, connecting with opulent inventors, and collaborating with multinational R&D centers.
Thereby, established top-most brands in achieving the $1 Billion mark within a short span and ultimately contributed 37% of unicorns of the nation in terms of leading sectors as Fintech 20% and SaaS 12% contribution of unicorns. Bangalore has earned the title of the top city in India for producing unicorns across industries like e-commerce, logistics, and ed-tech.
In no doubt, Mumbai has earned the deserving title of ‘the city of dreams, a place where many entrepreneurs have started their careers. As is the case, Mumbai is the richest city in the country with a homeland of 72 billionaires living and contributing $310 Billion toward the GDP of the country.
It accounts for more than 70% of unicorns in Delhi, as they are based in the Gurgaon region. The city has opened various portals for opportunities. Second-largest information technology hub and third-largest financial hub in India, Gurgaon is home to a slew of multinational corporations.
Since it houses top IT companies and fortune 500 companies, the city has been nicknamed ‘Cyber city’. With 13% of the total unicorn percentage in India, Gurgaon stands third in unicorn production.
Startup Name
Industry
Founding Year
Unicorn Entry Year
Oxyzo
Fintech
2016
2022
Mamaearth
E-commerce Personal Care
2016
2021
Spinny
Automotive
2015
2021
Mobikwik
Fintech
2009
2021
OfBusiness
Building Materials
2015
2021
Droom
Marketplace- Automotives
2014
2021
BlinKit
E-commerce- Groceries
2013
2021
Urban Company
Home Services
2014
2021
CARS24
B2C E-commerce
2015
2020
OYO
Hospitality
2013
2018
Rivigo
Logistics
2014
2019
PolicyBazaar
Insurance company
2008
2018
Zomato
Foodtech
2008
2015
Tata 1mg
HealthTech
2015
2022
MakeMyTrip
Online Travel
2000
2010
ReNew Power
Renewable Energy
2011
2017
Pristyn Care
Healthtech
2018
2021
New Delhi
New Delhi is not only the capital of India but lately, reformed into a new startup capital of India. Moreover, India will become the 3rd biggest economy in the world in 2022, and Delhi has become a hotspot for several startups and unicorns around India as well.
Gurgaon and Noida are the most prominent hotspots. Delhi is now home to 10 unicorns, with an estimation of roughly 1 billion dollars. And as of 2022, Delhi-NCR has a market worth 46 to 56 million dollars. Moreover, Delhi is reported to have the most Indian unicorns in a short span, and its startup ecosystem is growing exponentially.
Approximately 12,000 startups, 30 unicorns, and a cumulative valuation of about $150 billion could be based in Delhi-NCR by 2025, making it one of the top 5 global startup hubs. Delhi NCR contributes roughly 6.6% to the Indian unicorns.
Startup Name
Industry
Founding Year
Unicorn Entry Year
BharatPe
Fintech Payments
2018
2021
Delhivery
E-commerce Logistics Services
2011
2019
Lenskart
E-commerce- Eyewear
2010
2019
ShipRocket
eCommerce shipping
2017
2022
GlobalBees
E-commerce Retail
2021
2021
Pune
One fine feature in unicorns at Pune is women leading the start-up culture. Pune has 3200 Startups, on the other hand, Mumbai has 3274 Startups, which may compete against each other in the future in a healthy way.
Moreover, the Sci-Tech Park (established by the Ministry of Science and Technology, Government of India, and the University of Pune in 1986) alone has 153 startups.
As a result of Pune’s exceptional position to support start-ups and its proximity to industry, IT, and the best academic institutions, international collaboration among start-ups has increased over the past few years. Pune’s contribution to unicorns is approximately 5.7% as of a recent survey.
Startup Name
Industry
Founding Year
Unicorn Entry Year
ElasticRun
E-commerce Logistics
2015
2022
XpressBees Logistics
E-commerce Logistics
2015
2022
FirstCry
E-commerce
2010
2020
Icertis
Saas- Contract Management
2009
2019
Druva Software
Saas- Data Management
2008
2019
OneCard
Fintech
2018
2022
MindTickle
Saas- Enterprise Software
2011
2021
Chennai
Since Chennai city has failed to invest enough in startups in the last ten years, speed has finally picked up now, with a new administration in place. In a recent study, Tamil Nadu has a well-rounded business ecosystem spanning sectors, particularly in the industrialization sector.
However, compared to Bangalore, Mumbai, and Delhi, it still struggles to fit in. Moreover, several experts are believed to turn Chennai from Tamil Nadu into i-Tamil Nadu Technology, a hub for technology and a better startup ecosystem. Chennai as well pitches in 6.7% of the Indian unicorn sectors to the economy.
Startup Name
Industry
Founding Year
Unicorn Entry Year
Five Star Business Finance
Financial Services
1984
2021
Uniphore Software Systems
SaaS- Conversational Automation
2008
2022
CredAvenue/ Yubi
Fintech
2017
2022
ChargeBee
Financial Services
2011
2021
Freshworks
SaaS – CRM
2010
2018
The above graph shows the aggregate value of Indian Unicorns in Billion US Dollars as per the source Iron Pillar India Tech Trends Volume IV Report
Noida
In addition to Delhi, Noida has also bagged the title of a prosperous startup hub. The city is now a gateway for various global corporations. The city might be from Uttar Pradesh but emerged just like Delhi NCR when it comes to an industrial and manufacturing hub.
Noida has wide roads, and expressways in addition to greeneries, and for this reason, Noida is at present an up-and-coming city with an impressive startup ecosystem.
Moreover, it is near the Industrial Development Authority, Delhi, which makes good connectivity to the capital city, access to profitable talent, and cost-effective operations. Meanwhile, Noida extends 3.8% of the Indian unicorn sector’s income to the economy.
Startup Name
Industry
Founding Year
Unicorn Entry Year
Moglix
B2B E-commerce
2015
2021
PhysicsWallah
Edtech
2016
2022
Pine Labs
Fintech
1998
2020
Paytm
E-commerce Finance
2010
2015
Paytm Mall
E-commerce
2017
2018
Hyderabad
When there is a discussion about startup cities, Hyderabad also needs to be mentioned. Even though not many of the startups have turned into unicorns here, the number of budding startups here is quite high.
In the span of 3 years, from 2019 to 2021, approximately 933 startups were created here. It is not wrong to estimate that some of the smartest startups have been based in Hyderabad. And when it comes to unicorn startups, Hyderabad is home to 3 unicorns in India.
Startup Name
Industry
Founding Year
Unicorn Entry Year
Darwinbox
SaaS- HR
2015
2022
Highradius
Fintech
2006
2020
Zenoti
Saas- Spa and Salon Services
2010
2020
The above graph shows the percentage of Indian Unicorns based on the different geography as per Iron Pillar India Tech Trends Volume IV Report
Goa
Goa is highly acknowledged for its natural component. However, the government there is keen on making it a startup destination across India. Undoubtedly, Goa is home to many small and large startup businesses. Apart from that, Goa is also home to health based unicorn startup named Molbio Diagnostic.
Startup Name
Industry
Founding Year
Unicorn Entry Year
Molbio Diagnostic
HealthTech
2010
2022
Jaipur
The Pink city of India also provides a suitable culture for numerous startups to grow in it. The Ecosystem of Jaipur Startups is ranked at 7th position in India and 212th position globally. Jaipur is now home to one Indian Unicorn company and has many more coming in the future.
Startup Name
Industry
Founding Year
Unicorn Entry Year
CarDekho
E-commerce Automotives
2007
2021
Conclusion
On the whole, India has over 106 unicorns, all segregated in cities like Delhi, Bangalore, Chennai, Gurgaon, Noida, Hyderabad, Jaipur, Goa, and Mumbai. So far, India has globally earned recognition for its unicorns, and this may be one of the reasons why India is ranked third in the world economy.
FAQs
Which Indian state has the most unicorns?
Karnataka is home to the maximum number of unicorns.
Which city has the most unicorns?
Bengaluru has the most number of unicorns.
Which country has the most unicorns?
The United States has the highest number of unicorns in the world with a tally of 865 unicorns followed by China with an account of 224 unicorns.
Which is India’s 100th unicorn?
The 100th unicorn of India is a neo-banking platform named “Open”.
Hyderabad is a major center for the technology industry. It is home to many upscale restaurants and shops. Hyderabad is historically referred to as a pearl and diamond trading center. Hence, it is known as the “City of Pearls”. We have also seen a sudden rise in emerging startups in Hyderabad. Here we present the list of startup companies in Hyderabad (2021).
Hyderabad is the startup hub that empowers the startup ecosystem of India. Here is the list of startups in Hyderabad.
SFarmsIndia is an online web application with two core functions; listing and fraction trading. These two functions work together creating a great synergy. On the listing platform, buyers can find/search agricultural lands and sellers can list/post the agricultural lands for sale/lease. This enables farmers and agri-realty developers to buy and sells agri lands.
SFarmsIndia’s main USP is Fraction Trading. It makes an agreement with the seller (agri-realty developer) to issue fractions by digital land contract against their lands.
The sellers/Agri reality developers can liquidate their big land parcels utilizing these fractions. Each agri land is assigned with a digital contract and divided into 2000 fractions per acre, thereby enabling medium to small income groups to acquire lands easily.
SFarmsIndia is one of the successful startups in Hyderabad that was founded by Kamesh Mupparaju in 2018 with his cofounder Linus Lindgren. Kamesh is the CEO of the company whereas Linus is the advisor.
2. eKincare
Founder: Kiran Kalakuntla
Industry: Healthcare Tech
Year Founded: 2014
Funding Received: $20.7 million
ekincare Website
eKincare monitors medical information and gathers medical results from various providers. It updates profiles and gives a single repository for users and stores their medical records in the system.
With eKincare, companies can take care of their employees’ health and create personalised health benefits. It is an AI-driven platform which analyses the data of your employees and makes the reports accordingly.
Kiran Kalakuntla, founder and CEO of eKincare, did his engineering from Duke University. eKincare was founded by Kiran Kalakuntla and Srikanth Samudrala in 2014. Their investors include Ventureast, Bitkemy, Eight Roads and Endiya.
3. My Dream Store
Founder: Karthik Venkat
Industry: Online Clothing
Year Founded: 2014
Funding Received: $320k
Nobero Website
My Dream Store makes and sells T-shirts. Many people who want to make a particular kind of shirt, but can’t find it in the market or online, can create that shirt on mydreamstore.com and buy it.
In fact, people create clothes and sell them on the same platform. Hence, in another way, it is a clothing marketplace where people can buy and sell personalised products.
Karthik Venkat, the founder of My Dream Store, completed his engineering at Motilal Nehru National Institute of Technology. Later, he worked as a Financial Analyst. In 2014, he founded My Dream Store. The company has now rebranded to Nobero.
4. MastiTickets
Founder: Ravi Narla
Industry: Ticket Booking
Year Founded: 2014
Funding Received: –
Launched in 2014, MastiTickets has partnered with over 120 cinemas in AP and Telangana. It enabled users to book tickets for movies through its website and mobile app. The startup was booming in those areas around 2016. Hence, in 2017, BookMyShow acquired MastiTickets in an all-cash deal. The amount of acquisition is still undisclosed.
Ravi Narla founded MastiTickets. Ravi is an Andhra University graduate and also completed his master’s from the same university. He worked as a Project Manager in many different companies till 2013, when he decided to start MastiTickets.
5. REVOS
Founders: Mohit Ranjan and Jyotiranjan Harichandran
Industry: Tech Startup
Year Founded: 2017
Funding Received: $4 million
Bolt Website
REVOS, which stands for Revolutionary OS, is an AI & ML-enabled, IoT Platform for the next generation’s vehicles. It powers 2 & 3-wheelers with intelligent hardware & software.
REVOS makes on-the-go vehicle data analysis, diagnostics, smart control and protection, and visualization. This Hyderabad-based startup has already partnered with companies like Mirakles, Udaan, etc.
REVOS was founded by Mohit Ranjan and Jyotiranjan Harichandran in 2017. After graduating in Engineering from BITS, Mohit worked with Oracle for one year and then Adobe for four years. The company is now Bolt.
Founders: Raji Harish, Rajesh Kumar, and Girish Patinharepatt
Industry: Health Tech
Year Founded – 2017
Funding Received: NA
Psynapce is a healthcare tech startup. It provides backend services to clinics and hospitals. Its includes services like analytics, inventory management, hospital information system, EMR system, etc.
Along with these B2B services, the startup has also launched an app called Savika. Savika app is for pregnant ladies and guides them through every phase of those nine months.
Psynapce was founded by Raji Harish, Rajesh Kumar, and Girish Patinharepatt. Raji is now the CEO of the company whereas Rajesh and Girish are Managing Director and COO respectively.
7. Darwinbox
Founders: Rohit Chennamaneni, Chaitanya Peddi, and Jayant Paleti
Industry: HR Tech
Year Founded: 2015
Funding Received: $107 million
Darwinbox Website
Darwinbox is a tool for recruiters to find and train employees. It enables the managers to track and analyse the performance of their employees on the go. Features like employee engagement, Payroll management, and HR workflow make it useful, and its application and voice bot makes it easy to use.
Rohit Chennamaneni, Chaitanya Peddi, and Jayant Paleti together founded Darwinbox. They were able to get 40 clients in just one year. The company has raised a total of $107 million in funding.
8. Popicorn
Founder: Prashanth Gowriraju
Industry: Food
Year Founded: 2016
Funding Received: $3.4 million
Although, Popicorn is a food startup, that started in a garage. Popicorn provides delicious popcorn with low calories but is full of fibers. You can get their popcorn in many different flavours. However, Popicorn’s products can be bought from particular online platforms or offline stores only.
Founded in 2016, Popicorn is a subsidiary of Timla Foods which was founded by Prashanth Gowriraju.
9. Zippr
Founder: Aditya Vuchi
Industry: Tech Startup
Year Founded: 2013
Funding Received: $8.6 million
Zippr Website
Zippr is a very innovative startup. It provides personalised addresses to everyone. If you have a Zippr code, you don’t have to enter long addresses while ordering something. You can give the Zippr code to anyone like a delivery man, cabs, etc.
With the Zippr code, they can easily track your house. Zippr code is a combination of 4 random alphabets and 4 random numbers. Currently, the service of this startup is limited to Hyderabad only.
Aditya Vuchi, the founder of Zippr, has done his engineering at Osmania University and later studied at West Virginia University. In 2013, he found Zippr which is funded by Amazon and Indian Angel Network. It has raised a total of $8.6M in funding 4 rounds.
NowFloats is a business management company headquartered in Hyderabad. It gives local businesses a platform to promote their products and help them get patents for their technology creation. Their main product is “Boost”.
Boost provides a website management app and also automates its SEO. Businesses simply need to update their websites and Boost takes care of everything related to it.
Ronak Kumar Samantray, Neeraj Sabharwal, Nitin Jain and Jasminder Gulati are the founders of NowFloats. Gulati has done him under graduation from the University of Mumbai. Nitin completed his MBA in Marketing and Finance from the Indian School of Business. Samantray has done his engineering at the College of Engineering and Technology, Bhubaneswar.
Health Sutra is a food startup. They provide tasty food products but with healthier ingredients. The startup is working towards redefining tradition with taste. They use traditional grains like Jowar, Bajra, Ragi, etc. to make ready-to-eat foods.
The startup was founded by Sai Krishna Popuri. Sai is a graduate of Delhi and has experience working with different startups in different positions.
12. TinMen
Founder: Mukesh Manda
Industry: Food Delivery
Year Founded: 2015
Funding Received: 406.3k
Tinmen is a food delivery app which offers homemade food. People can order food on their website or on the app. They have a pretty good range of food variety. It also offers a chance for the people to join their community and provide food service through their app and earn some money.
The startup was founded by Mukesh Manda in 2015. Mukesh is an IIT Kharagpur graduate and has experience working with companies like Oracle and Amazon. The company had to shut down its operations in 2019.
Founded in 1996, Bharat Biotech is a multidimensional biotechnology company. They are specialised in product-oriented research, development and manufacturing of vaccines and biotherapeutics. Their investors include ICICI Ventures and International Finance Corporation (IFC).
14. Cyient
Founder: B. V. R. Mohan Reddy
Industry: Computer Software
Year Founded: 1991
Funding Received: $15 million
Cyient Website
Cyient is a software company based in Hyderabad. Cyient is a global engineering and technology solutions company. Infotech Enterprises was re-branded Cyient in 2014 and featured among the top 30 outsourcing companies in the world as of 2018.
Cyient’s industry focus includes aerospace and defence, healthcare, telecommunications, rail transportation, semiconductor, geospatial, industrial, and energy.
15. GrabOn
Founders: Ashok Reddy and Bhanu P Raju
Industry: Coupons and deals
Year Founded: 2013
Funding Received: $250k
GrabOn Website
GrabOn stands as a famous Indian coupons and deals marketplace, which onboards subscribers and merchants to offer the best deals and coupons online to its users. Founded back in 2013 under the parent company, Inspirelabs Solutions Pvt Ltd. GrabOn is one of the leading startups in Hyderabad that initially bootstrapped its way and turned profitable in 15 months.
GrabOn boasts of 4,000+ merchants and over 6.5 million users per month. Apart from coupons, deals, and offers, GrabOn has further diversified into the gift cards industry with BestPriceOn and GrabOn Gift Cards. GrabOn is listed in the 266th position by the Financial Times as a high-growth company in Asia-Pacific.
16. Neeman’s
Founders: Amar Preet Singh and Taran Chhabra
Industry: Footwear
Year Founded: 2018
Funding Received: $9.8 million
Neeman’s Website
Founded as a footwear startup in 2018, Neeman’s is ideated to empower the usage of renewable, organic, and sustainable materials to design an attractive range of footwear for the young and old. These shoes manufactured by Neeman’s are stylish, and comfortable along with being eco-friendly.
17. Hug Innovations
Founders: Raj Neravati
Industry: Service industry, software
Year Founded: 2014
Funding Received: $5 million
Hug Innovations brings a range of wearable products that constantly aim to bridge the gap between people and technology. Hug Innovations believe that the world is in growing need of technology that is user-friendly and convenient. This is why they strive to develop cutting-edge wearables that are easy to use.
Titan Company Ltd acquired Hyderabad-based Hug Innovations on February 11, 2020.
18. SkinKraft
Founders: Chaitanya Nallan, Veerendra Shivhare, and Sangram Simha
Industry: Skincare, Tech, Beauty
Year Founded: 2017
Funding Received: NA
SkinKraft Website
SkinKraft Laboratories, founded in 2017 manufactures beauty products for the cosmetic industry users. The beauty products manufactured by SkinKraft are not only produced to cure chronic diseases but are also customized as per the users’ requirements.
Along with skincare, SkinCraft is also distinguished for its effective hair and immunity-boosting products and solutions.
19. Flatpebble
Founders: Pranav Mehta, Venkatesan Seshadri
Industry: Photography, wedding
Year Founded: 2012
Funding Received: $1 million
TechClove Technologies Private Limited formed as Flatpebble is a wedding photography services company that helps offer wedding photographers and wedding photography services online.
The customers can simply place their requirements/requests via forms to receive detailed quotes and the relevant portfolios of wedding photographers so that they can make their own decisions comfortably sitting in their homes.
Flatpebble.com is also a remarkable platform for both professional photographers and those who are in the making to approach a wide user base and cater to their varied requirements.
Flatpebble currently boasts over 500 portfolios and is established across 80+ cities and 5+ countries, as of October 2, 2021.
20. Paynear Solutions
Founders: Krishna Kishore V
Industry: Fintech
Year Founded: 2013
Funding Received:
A Fintech startup based in Hyderabad, Paynear Solutions strives to revolutionize the payment industry with its innovative solutions. Paynear Solutions extends state-of-the-art payment transaction solutions to small, medium, and large enterprises and other businesses in India to help them manage their payment activities. The company helps create payment transaction solutions to simplify the businesses of the present and those that are to come in the future.
21. Nukkad Shops Technologies
Founders: Vivek Shukla, and Ravi Korukonda
Industry: Payments app, POS
Year Founded: 2015
Funding Received: $1.4 million
Nukkad Shops Website
Nukkad Shops Technologies stands as a commerce platform that serves small and medium-sized grocers and companies. With the help of the advanced apps that Nukkad Shops provides, the retailers can get their billing done without any hassles. Furthermore, they can also manage their inventory, move their dead inventory with up-sell, cross-sell, enable a loyalty program, and more.
22. Zifi
Founders: Anurag Singh Rathore
Industry: Healthcare, Medical
Year Founded: 2002
Funding Received: NA
Zifi is famous as the registered trademark of FDC Limited, which helps in bringing smiles among clinicians across the country. Zifi is recognized as a trusted partner of the clinicians that has effectively treated 300 million+ patients from the day of its inception.
The state-of-the-art Novel drug delivery system and the exceptional experience of clinical success by the medical fraternity have truly made Zifi India’s no. 1 prescribed anti-infective.
Founded back in 2002, Zifi has grabbed the growing need of the clinicians and helped in treating a wide variety of infections with highly effective and affordable anti-infective therapy, newer anti-infective combinations were launched as extensions.
23. Froogal
Founders: Jeevan Chowdary Mandadapu
Industry: Software
Year Founded: 2016
Funding Received: $1 million
Froogal Website
Froogal is a startup company that provides its users with rewards for their shopping habits. It helps in engaging customers with the help of digital strategy. The main aim of Frrogal is to establish customer loyalty and retain them.
It works as a tool and takes care of the business marketing needs. Froogal offers rewards and provides emotional experiences to retail customers and their loyalty.
Conclusion
This was our list of startup companies in Hyderabad. If you know any other startups in Hyderabad, please contact us. We will connect to feature the story in this list of startups in Hyderabad.
A nascent stage startup is no different from a toddler—it needs to be nurtured with utmost care and conditioned for tackling the challenges that lie ahead. To provide this grooming, several cities in India are preparing themselves for incubating and bolstering entrepreneurial ventures.
The global buzz surrounding the startup mentality has made it more important than ever to create a breeding ground for innovation and creativity, and it’s great to see that India is also taking this seriously. This has given rise to a number of startup hubs across the country, with the quantity increasing continuously.
There has been a paradigm shift when it comes to the importance of 9 to 5 day jobs. Although many Indians still prefer such jobs over conceiving new ventures, some studies report that the number of startups in India has grown over 7 times in the recent decade. Are Indian’s ditching the traditional conception of employment? Quite likely a yes.
According to the reports, the number of Indian startups in 2008 lingered at around 7000. A 2018 study estimated approximately 50,000 startups in existence across India. The startup culture in India has seen tremendous growth. According to a 2021 Global Startup Ecosystem Index by Startup Blink, three cities in India, Bengaluru, Delhi and Mumbai ranked among the top 20 cities globally.
If one was to single out a specific brand or entity that paved way for entrepreneurship in India, it would be Zoho. Then known as AdventNet.inc, Zoho offers productive tools (Document processing, etc.). It began in 1996 and amplified the “startup” trend in India.
Here is a list of some of the best cities for startups in India that are providing startups and initiatives to the pedestal to grow and make name for themselves. With the penetration of more international tech giants, most of these cities are changing into the IT hubs of India.
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Bengaluru, once known as the startup capital of India before it was dethroned by Delhi which added 5000 startups against 4,514 in Bengaluru from 2019 to 2021.
Bengaluru has been the womb to big shots like Ola and Flipkart. The city houses various technical and analytical firms, an enticement for budding and established entrepreneurs.
Rightly christened as the Silicon Valley of India, Bangalore is the perfect amalgamation of the corporate lifestyle and vibrant social life. Home to the country’s top technical and managerial institutions (IIM, Bangalore and IISC) and a strong industry connection, there’s no shortage of opportunities in this city. It is known as the best city for startups in India.
Even freelancers across the country have an inclination towards working out of Bangalore; such is the lure of the city. Other countries are becoming cognizant of the strategic significance of this south Indian city—large organizations are adamant about having at least one of their offices in Bangalore. This creates an extensive network highly beneficial to ventures and initiatives seeking support and guidance.
On the other hand, startups based out of Bangalore are expanding their operations and services beyond India. With the city in dire need of renovation and re-modelling (lack of space and water issues being some reasons for worry), the inevitable transformation of Bengaluru will open up new avenues for entrepreneurs. The city is also among the top IT startups in India.
Delhi
Delhi City
Delhi, the startup capital of India is the center of India that commands the respect of its own, Delhi is the seat of political power and this lends a greater hand to the startup ecosystem flourishing there. Having a stronghold in telecommunication and media, Delhi has been a destination for various entrepreneurship-related meetups and conferences, with the Government of India promoting and publicizing a majority of these events.
The close vicinity to Delhi has enabled both Noida and Gurugram to establish themselves as startup hubs. A trade and commerce place historically, Delhi has seen the rise of tech startups such as Hike and Paytm, food tech startups like Zomato, and Shopclues belonging to the e-commerce segment.
With booming infrastructure and ease of business, Delhi is counted among the top cities for startups in India where foreign behemoths like Samsung are exploiting Noida and Gurugram to the fallest; Samsung recently opened the “world’s largest mobile factory” in Noida. These regions entail a huge potential for growth along with a thriving network of investors and entrepreneurs. The presence of centres of excellence like IIT, DU and IIFT (to name a few) means there’s no shortage of expertise.
Hyderabad
Hyderabad City
Traditionally known as the city of pearls, this city in Southern India is witnessing a rise in foreign investments and the number of successful startups blossoming on its land. Hyderabad can be called the second IT hub of India after Bangalore.
With many international giants like Microsoft, Google, and Uber setting up their offices in Hyderabad, the city is slowly yet steadily catching up with Bengaluru as a startup hub. Top institutes like ISB, IIIT, and BITS being located in Hyderabad is icing on the cake—alumni from these places are directly incubating their ventures in Hyderabad.
The support from the State Government has encouraged entrepreneurs to make the best out of unrealized opportunities Hyderabad has on offer. The State Government is vesting time and money in organizing and setting up conferences, hackathons, state initiatives, and development centres—everything geared towards making Hyderabad synonymous with entrepreneurship. It is even slackening on policies and procedures to showcase the city as a favourable incubator!
Mumbai
Mumbai City
The city of dreams, also the home to some of the world’s wealthiest businessmen, has only recently been dethroned by Bangalore when it comes to India’s favourite startup destination. Mumbai is still the first choice for anyone who is into non-technical startups as it is India’s financial capital.
One of India’s most recognized institutions, IIT Bombay has been instrumental in cultivating the startup ecosystem across the nation, being the birthplace of many wildly successful startups. Moreover, alumni from this esteemed college have gone on to make name for themselves across countries through their initiatives. It’s a proud feeling to say that many globally recognized brands are the outcomes of the toil put in by IIT Bombay grads and post-grads. It is among the best cities for startups in India.
BookMyShow, JustDial, and Cleartrip are only scratch the surface of the plethora of startups to have emanated from this sea-facing city. With conglomerates like L&T and Tata group setting up their offices in Mumbai, the financial hub has seen a steep growth in the economy, employment, and business. But the rising cost of living and real estate in Mumbai has caused a few unicorn enterprises such as Ola to shift base. In spite of such issues, Mumbai will continue to dominate the entrepreneurship segment, come hell or high water.
Emerging Startup Cities in India
With big cities gradually losing their shine and attraction, many emerging startups are focusing on tier 2 cities for growth and sustenance. Some cities have seen a surge in entrepreneurial activities and have made it big in the last 3-4 years. Some of the emerging startup cities in India are:
Ahmedabad
Gurugram
Pune
Chennai
Kolkata
Nagpur
Chandigarh
Indore
Goa
Bhubaneswar
Lucknow
Surat
The Government setting up a tech park called GIFT City in Ahmedabad-Gandhinagar, Pune becoming a smart city, and Chennai emerging as a host to entrepreneurial discussions and events—smaller cities are gaining traction. Cheap land rates, low cost of living, remarkable talent yet to be utilized, and lucrative government policies have made these cities the future of the Indian startup ecosystem.
FAQ
Which city has the most startups in India?
Delhi has dethroned Bengaluru and now ranks in the first position for the most number of startups in India.
Which city is known as the startup capital of india?
Delhi is known as the startup capital of India.
Which is the best city for startups in India?
Some best cities for startups in India are Bengaluru, Delhi, Mumbai, Gurugram, Hyderabad, Noida, and Pune.
What is the best city to start a business in India?
Mumbai, Delhi and Bengaluru are some of the best cities to start a business in India.
