Australia ranks among the leading countries for startups worldwide. With a score of 22.45, Australia ranks the 8th best country for startups in 2022. Its physical infrastructure, internal market dynamics, and commercial and legal infrastructure are favorable to the startup environment.
Australia is known for its diversified and technologically advanced economy. Australia continues to encourage the development of several local startups nationally with an international launch. It is also considered one of the quickest countries in the world to start a business. Thus the startup ecosystem in Australia is now one of the fastest-growing globally, with the startup rate being one of the highest in the world.
Venture Capital Fundraising in Australia from 2010 to 2022
As of August 2022, the value of Australian-based venture capital funds was over $539.34 million and around $331.73 million in 2021. With an innovative approach, the startups have gained global market reach taking pride in their “Unicorn” status which is worth more than a billion US dollars. For a more elaborate view, let’s take a look at our favorite startups, piling up more information on each company and its counterparts.
Alex Twigg, Chris Bayliss, David Hornery, Jacqui Colwell, Joseph Healy, Kate Keenan, Mal Hiscock, and Tim Alexander
Founded in
2016
Headquarters
Melbourne, Australia
Industry
Financial services
Total Funding
1.8 billion over 9 funding rounds
Valuation
$970.1 Mn (2022)
Judo Bank Co-founders | Joseph Healy and David Hornery
Judo Bank is an online business bank backed by the SME Guarantee Scheme. With a team of dedicated officials, Judo Bank develops a trustworthy relationship with the proprietors and their SMEs. It provides financial assistance and business loans imperative for each SME. As business is all about striking while the iron is hot, Judo Bank helps SMEs to back their ideas with the funding they need.
Canva
Founders
Melanie Perkins, Cliff Obrecht, and Cameron Adams
Founded in
2013
Headquarters
Sydney, Australia
Industry
Graphic design Software
Total Funding
$572.6 million over 14 funding rounds
Valuation
$26 billion (2022)
Canva Founders | Cliff Obrecht, Melanie Perkins, and Cameron Adams
Canva is the world’s most inclusive graphic design tool that can be used to design and work more seamlessly. Be in logos, web pages, brochures, presentations, social media graphics, business cards, etc. Canva is the most productive digital creator. Available in over 130 languages and on any device, the users can start with one of Canva’s 250,000+ free templates and see where their creativity takes them.
Spaceship
Founder
Kaushik Sen
Founded in
2016
Headquarters
Sydney, Australia
Industry
Fund-investing platform
Total Funding
$54.58 million over 3 funding rounds
Valuation
$360.82 Mn (Jun 2022)
Spaceship Founder Kaushik Sen with Paul Bennetts, Andrew Sellen, and Dave Kuhn
Spaceship is a fund-investing platform designed to help the younger generations to invest in their future. Spaceship offers two portfolios to its customers-Origin and Universe.
Origin is somewhat similar to an index ETF, however, it is not market cap weighted. It invests in 100 Australian and 100 International companies. The minimum fee is 5$. On the contrary, The Universe is more of an active fund. The investment philosophy is based on WWG’s “Where the World is going” principle.
Companies are screened on factors like market cap, future growth potential, management, and even liquidity among other things. The minimum fee is 1$ P/A. With companies such as Amazon, Google, Facebook, and more. Spaceship guides the users to invest in a curated global portfolio.
Uno
Founder
Vincent Turner
Founded in
2016
Headquarters
Surry Hills, New South Wales, Australia
Industry
Financial Services
Total Funding
$36.86 million over 7 funding rounds
Valuation
–
Uno Founder | Vincent Turner
Uno is one of the world’s most authentic platforms that facilitates users with better financial decisions. The best part is that Uno offers online tools to compare loans so that the interest rate does not affect the cost of loans. Whether it is to buy real estate property or to avail of a new loan, Uno can assist with better guidance.
99Designs
Founder
Mark Harbottle
Founded in
2008
Headquarters
Melbourne, Australia
Industry
Design Services
Total Funding
$45 million over 4 funding rounds
Valuation
Acquired by Vista Prints for an undisclosed amount
99designs Founder | Mark Harbottle
99designs is an online platform where you can find designers for clothing and merchandise, art and illustration, packing and labels, magazines, flat-out logos, etc. A bunch of logo designers will throw their hats on their rings and develop various designs based on the specifications you outlined.
However, the whole idea is to have a plethora of options to choose from. The minimum price is $299. Besides collecting briefs from customers online, 99designs offers the services of its community of professional designers to deliver the client’s requirements at the earliest.
Go1
Founder & CEO
Andrew Barnes
Founded in
2015
Headquarters
Brisbane, Queensland, Australia
Industry
E-Learning Providers
Total Funding
$373.25 million over 10 funding rounds
Valuation
$2 Bn+ (2022)
Go1 Founder & CEO | Andrew Barnes
Go1 is one of the most dedicated platforms wherein companies get curated training courses from the world’s skilled training institutions for their employees. It is easily accessible and is one of the ruling eLearning library learning and education that has been famed across countries such as Australia, the United States, South Africa, Vietnam, the United Kingdom, and Malaysia.
Lendi
Founder
Martin Lam
Founded in
2016
Headquarters
Sydney, New South Wales, Australia
Industry
Financial Services
Total Funding
$57.38 million over 4 funding rounds
Valuation
–
Lendi Founder | Martin Lam
Lendi is one of the most reliable online platforms for home loans. Here, users are allowed to choose home loans freely from more than 25 major lenders. Facilitating the acquisition of houses and refinance loans, Lendi thereby negotiates better loans for its users and also empowers them through its online tools and a team of experts.
Power Ledger
Founders
Dr. Jemma Green and John Bulich
Founded in
2016
Headquarters
Perth, Western Australia, Australia
Industry
Software Development
Total Funding
$35 million over 2 funding rounds
Valuation
$57 Mn (2022)
Power Ledger Founder | Dr. Jemma Green
Power Ledger is a tech company that has developed a blockchain-enabled renewable energy trading platform. With market abilities, the company has built a series of products to enable energy trading, renewable asset financing, and moving efficient carbon and renewable carbon credits transactions.
Assembly Payments
Founder and CTO
Simon Jones
Founded in
2013
Headquarters
Victoria, Australia
Industry
Technology, Information, and the Internet
Total Funding
$12.25 million over 8 funding rounds
Valuation
–
Assembly Payments Key People
Assembly Payments is a complete payment gateway that helps businesses manage payment workflows and move funds without any delay. Perhaps it is the perfect way to capture credit cards without a lot of coding on the user’s side. However, Assembly is committed to going beyond excellence to deliver a highly secure system, that meets regulatory standards.
Employment Hero
Founder and CEO
Ben Thompson
Founded in
2014
Headquarters
Sydney, New South Wales, Australia
Industry
Human Resources Services
Total Funding
$290.93 million over 7 funding rounds
Valuation
$837.45 Mn(2022)
Employment Hero Founder & CEO | Ben Thompson
Employment Hero is the best HR software that Australia has to offer. With Employment Hero, SMEs can easily manage HR payroll, employee engagement, and benefits. Along with a team of experts, it has a wide range of products and services lining up for hassle-free compliance with minimum paper works and delivers better employee allowances.
Conclusion
The economy of Australia is growing by leaps and bounds with the technological advancements of its rising startups. While some are fast-moving for completion, others are balls against walls, however, predominantly focused to become the next market leaders.
The series of startups focusing on and winning economic dynamism implies several industries and businesses, but the importance of tech startups is limpid, as enormous companies are either cloud-based platforms or software-based. From professional forums to Financial Technology and from e-commerce to Artificial Intelligence (AI), Australia is no easy feat.
FAQs
What industries are booming in Australia?
Manufacturing Industry, Healthcare Industry, Energy Industry, Food Industry, and Technology Industry.
How many startups fail in Australia?
20% of businesses fail in their first year in Australia.
What is the biggest industry in Australia?
Consumer Goods Retailing in Australia is one of the biggest industries in Australia.
Which country has the most startups?
The United States has the most startups, i.e. more than 70,000 active startups. With a total score of 195.37, the US was by far the best country for startups in 2022.
No big company or enterprise ever started from scratch; and to realize an innovative and actionable idea, one needs funds and resources. From Microsoft to Facebook to Pixar, most of them started with a great idea, lots of effort, and a small garage. Almost every day, entrepreneurs come up with out-of-the-box startup ideas and fancier methods to implement them. This, however, is easier said than done, since startups need both funding and resources along with immense hard work in their initial days to be successful.
Although the work has to be put in by the startup founders and employees, the funding and resources part is often taken care of by investment ventures and private equity firms. However, in the previous couple of decades, industry giants have also taken to venture investment in startups. Various larger corporations have assigned a separate division to invest in promising startups, in return for stakes in the company. In this article, we discuss 10 startups funded by Reliance Industries, the solutions they have to offer, and their funding amount.
C-Square is a pharmacy management platform build to empower your business and automate processes. It was acquired by Reliance Industries in 2019 for an undisclosed amount and has since been a subsidiary of Reliance providing pharma ecosystem solutions. C-Square is a popular platform among pharma marketers and distributors with over 35,000 active customers and over 5,000 corporate clients. It also furnishes users with sales force automation tools for optimization and productivity along with excellent ERP for C&F Business for automating operations and managing inventory.
EasyGov
Founder
Amit Shukla
Industry
Govtech
Founded in
2015
EasyGov Homepage
EasyGov, founded in 2015, is an initiative for the general masses for convenient access to schemes and programs launched by the government. It was funded by 2 investors in the Angel round and then acquired by Reliance Industries for an undisclosed amount. EasyGov endeavors to transform discovery and delivery by providing the public with a platform as an interface to communicate with the government. It has further stood by its promises by making technology simpler for both parties, sharing data for interdepartmental programs, and providing the right tools for collaboration keeping in the mind the security needed while handling sensitive information.
Asteria Aerospace
Co-Founders
Neel Mehta and Nihar Vartak
Industry
Drone Technology
Founded in
2011
Asteria Aerospace Drones
Asteria Aerospace is a robotics and artificial intelligence-based company founded in 2011 and has been funded by 3 investors including Reliance Industries, over one funding round. Asteria is striving to innovate UAV design and integrate it with robotics and artificial intelligence to collect data seamlessly. While its current hardware portfolio encompasses 3 drones with varying capacities and endurance, with the AT-15 model being the outmatching others, the software portfolio consists of 2 products including Cartis and Genesis, for project planning, monitoring, and asset management.
Netradyne
Founder
Avneesh Agrawal
Industry
Software Development
Founded in
2015
Netradyne Awards and Accolades
Founded in 2015, Netradyne is a software development company that deploys deep learning and computer vision to find solutions to real-world problems. Netradyne raised funding of over $47 million from 4 investors including Reliance and M12 over 3 funding rounds, closing the most recent funding round in the December of 2019. Netradyne uses edge computing and implements machine learning and AI to reduce accidents and raise the driving standard for commercial vehicles. It captures real-time driving experiences and helps you understand driving behavior and how accidents can be avoided.
Fynd, founded in 2012, is an Indian e-commerce platform and an online shopping destination for fashion and clothing. It has been funded by 19 investors over 7 funding rounds with 4 lead investors, raising about $4.4 million in funding, and was acquired by Reliance in 2019. Fynd operates through an offline-to-online model and offers various products ranging from men’s and women’s clothing to beauty and personal care products to home and living and baby care products. Fynd also sells some popular fashion brands including Nike, Spykar, Puma, and Red Chief, among others.
KareXpert
Founder
Nidhi Jain
Industry
Design Technology
Founded in
2004
KareXpert in News and media
KareXpert is a design technology platform and a Digital Healthcare startup acquired by Reliance Industries for INR 10 Crore. Founded in 2004 by Nidhi Jain and based in Gurugram, KareXpert endeavors to realize “Patient Continuity” in India. It heads with a more customer-centric approach and cloud-based technology for healthcare providers and patients. Reliance also recently launched its healthcare app, JioHealthHub for users, and acquisition and investment in KareXpert seem in the view of strengthening the app.
Anant Goel, Yatish Talavdia, Ashish Goel, Anurag Jain, and Ekwe Chiwundu Charles
Industry
Delivery service
Founded in
2015
Milkbasket Homepage
Milkbasketis a micro-delivery service for grocery and household products. It raised over $38 million over 11 funding rounds from 18 investors including 9 lead investors. While its investors include some big names such as Blume Ventures and Unilever Ventures, Milkbasket was acquired by Reliance Industries for over $40 million. It offers its users a very basic approach where all the user needs to do is register with the app and add money to the Milkbasket wallet with any amount. Once this is done, the user can then start purchasing groceries and even set repetitive orders while the delivery team gets your order to your doorstep.
Radisys
President & CEO
Arun Bhikshesvaran
Industry
Technology
Founded in
1987
Radisys Homepage
Radisys, a leading provider of hardware and software for wireless, wireline, and video networks raised over $39 million in 2 funding rounds from Hale Capital. However, it was acquired by Reliance for $75 million in 2018, as it looks to enhance Jio’s presence in 5G and the Internet of Things. The solutions that RadiSys has to offer to encompass business applications such as audio, video, and edge media, Networking solutions such as virtual and open RAN, multi-access edge, as well as AI ops including software customization and conceptualization.
Embibe
Founder
Aditi Avasthi
Industry
Edtech
Founded in
2012
Embibe Homepage
Founded in 2012 by Aditi Avasthi, Embibeoffers educational services powered by Artificial Intelligence for students with personalized feedback. In 2020, it garnered an investment of $196 million over 4 funding rounds with 4 investors including 2 lead investors with big names such as Reliance and Kalaari Capitals. Be it competitive exams such as the JEE and NEET or high school subjects, Embibe helps prepare and crack some of the toughest competitive exams and allows you to analyze and track your progress through the course of preparation. Embibe also offers various resources including college predictors and methods to enhance your scores along with a lot more.
Netmeds
Founders
Pradeep Dadha and Bruce Schwack
Industry
Healthcare e-commerce
Founded in
2010
Netmeds Homepage
Founded in 2010, Netmedsis one of India’s most trusted online pharmacy companies and has raised a total funding of over $109 million. Netmeds was funded by 4 investors all of who were lead investors, now it has been acquired by Reliance through a 60% majority stake in the company. Netmeds delivers medicines and other health and personal care products including eyewear and surgical. It has also recently started delivering first aid kits, skin treatment, health supplements, and healthcare devices such as Orthopaedics and Measurements.
How to apply for JioNextGen’s Market Access Program?
Step 1: Visit the official page of JioGenNext
Step 2: Click on APPLY NOW (on the top right of the page)
Step 3: Click on Start and then Continue
Step 4: Enter the company details:
Company name
Startup’s website URL
Your name
Email address
Your mobile number
Year of incorporation
State you are headquartered or located
City you are headquartered or located
Step 5: Provide the following information about the startup:
Business kind
Customer’s pain point description
Product achievements for your customer
The key value proposition you offer to your customers
A typical customer journey of how the solution works
Link to the product demo
Industry in which your customer operates
The customer function your product focuses on
The technologies you are using in your product
The uniqueness of your product
Closest competitors
How do you earn/plan to earn revenue from customers
If you have paying customers:
Single customer payment per month
The number of such paying customers currently
Share a customer testimonial: If you can, also share their company website
URL / LinkedIn profile/s
Step 6: Provide information about the Founders and your backgrounds:
How did the founding team come up with the startup idea?
What puts your team in a special position to build a leadership position in the market?
Links to Founders’ profiles on LinkedIn
Step 7: Answer a few more questions:
Were or are you part of any incubator/accelerator? If yes, which one?
Are you supported or registered under MeitY’s Schemes, Challenges,
Incubators, and Accelerators?
What does your funding situation look like right now?
What kind of an outcome are you looking for from JioGenNext?
Step 8: Accept the DECLARATION
Step 9: Submit the form
Conclusion
Reliance Industries is one of the giants in India and has managed to make its presence felt in the production and exploration of crude oil. JioGenNext incubated 170 Startups in 7 years span to support entrepreneurship and the startup ecosystem with mentorship and support. Hence, to say that entrepreneurship in India is just beginning to blossom would be an understatement, and the startup ecosystem will continue to thrive with such equity firms and actionable and innovative ideas.
FAQs
What is the rank of Reliance Industries in the world?
Reliance Industries ranked 20th in Worlds’ Best Employers rankings. It is the highest among Indian companies.
How many Startups are funded by Reliance Industries?
Reliance Industries has funded 170 Startups.
How to apply for JioNextGen’s Market Access Program?
You can apply for it by visiting JioNextGen’s official page. Provide the company, startup, founders, and other details. Answer a series of questions about your business and then submit the form.
There is almost no big company or enterprise that didn’t start from scratch. From Tesla to Apple to Pixar, most of them started off with a great idea, lots of effort, and a small garage. With every passing day, entrepreneurs come up with amazing startup ideas and newer methods to implement them. This, however, is easier said than done, since startups need both funding and support along with immense hard work in their initial days to be successful. As part of its funding program, Google has helped some of the top startups, and some of those startups have become well-known companies.
This is where equity and venture firms come in. If they find the idea behind a startup reasonably adequate, they make the initial and much-needed investment in the startup. Blackstone and Apollo Global Management are some equity investment firms, while Google Ventures is a venture investment firm. But before knowing what startups are funded by Google, let’s find out how funding works.
Apparently, there are certainly different kinds of funding based on factors such as startup valuation, its customer base, strategy, revenue model and other technical factors. These funding are categorized as follows:
Pre-seed Funding– This is the earliest stage of a startup, and the funding here is mostly the initial investment in the idea and is done by the founders themselves. This stage isn’t even officially included in the funding rounds, however, it is where a startup begins.
Seed Funding– This is where the first official investment for a business or a venture is made. Seed funding helps startups take the initial steps towards making their products. While the failed startups never go beyond this stage, the one’s that do, proceed to the Series A round.
Series A Funding– Once a startup or company has surpassed Seed round, has an established user base, and offers its services or products, they can opt for Series A Funding. This is where startups can use the investment money to further optimize their product, and raise anywhere from $2 million to $15 million.
Series B Funding– After Series A, this round helps a business to advance to the next level. If the company has justified the initial investment with a strong customer base and valuation, Series B funding helps to take the business to the next level. The investment in this round can range from $30 million to $60 million.
Series C Funding– The businesses which are already successful and are looking to build new products to touch newer markets are funded in this round. The companies in this round may also acquire startups and the investors and founders in this round look for exponential growth. The valuation of companies in this round can range in hundreds of millions.
Although there can be more funding rounds corresponding to the alphabet, these are particularly the one’s where most startups reach. There is also private equity funding away from public markets in which private companies can finance startups privately.
Google Ventures is a venture capital investment firm of Alphabet, the parent company of Google, CEO is David Krane. Renamed to GV, the primary objective of Google Ventures since its conception has been to back founders with a vision for the future of entrepreneurship. GV has funded over 500 portfolio companies and is in constant search of new and industry-changing ideas and startups.
GV flaunts a team of founders, physicians, and other professionals, who have been in the startup ecosystem for a long, and understand it more than most people. This team of specialists, engineers, advisors, and fund operatives help GV to solve challenges and deliver feedback to create better services. GV invests across all stages and sectors, with a focus on enterprise, life sciences, consumer, and frontier technology. GV has made 988 investments so far. Recently on July 29, 2022, GV made a $3.3 Million investment in New York-based consumer Software, Studio.
Google Ventures on Investment in Startups
Startups Funded by Google
Slack
Industry: Enterprise Software GV Investment: $110.8 Million
Who in the digital world isn’t aware of the most popular cab serviceUber? It has turned out to be one of the most popular cab booking services around the globe, and both cab drivers, as well as people who need them use it on a regular basis. It is a consumer service and has also set its foot in the food delivery services. Uber has offered quality, door-to-door service and continues to do so by constantly introducing safety features in its Community Guidelines.Uber has been Google Ventures’ biggest investment to date. Google Ventures has invested approximately $1.8 Billion in Uber.
Industry: Digital Media GV Investment: $19 Million
Medium | Google Ventures | Startup Funded By Google
Medium is a blogging platform that suggests viewers blog through smart algorithms. World-class publications and experts publish their blogs in different niches, and viewers can choose their preferred subjects to read the latest research papers, articles, and blogs. The popularity of Medium attracted Google’s interest and they invested.Medium currently flaunts its user base of 170 million users and counting, with the writers including journalists, authors, experts, and individuals.
StockX
Industry: Stock Market GV Investment: $22 Million
StocksX | Google Ventures | Startup Funded By Google
As described by Google Ventures, StockX is the world’s first ‘Stock Market for Things’. This is an online marketplace where both buyers and sellers put forth the bidding and asking amount, and as soon as both of them meet, the transaction takes place. The marketplace that StockX offers can be used to sell any sellable product from sneakers to watches; all you need to do is sign up. Google ventures and battery ventures invested $44 M in series B funding.
Industry: Digital Payment GV Investment: $600 million (along with other investors)
Stripe | Google Ventures | Startup Funded By Google
Stripe is one of the most popular payments processor for online transactions and in mobile applications. Today, millions of online and offline businesses from startups to bigger enterprises use Stripe as their payments processor. Be it Software as a Service, an online platform or your marketplace, Stripe can be used in all these cases either through the software or its API.
“Stripe is the best way to accept payments online and in mobile apps.” says Google Venture.
GitLab
Industry: Software GV Investment: $20 Million
GitLab | Google Ventures | Startup Funded By Google
GitLab is a DevOps platform that accelerates development through collaboration and automation. With various organizations relying on its source code, CI/CD, and security, GitLab offers powerful automation with real-time security and vulnerability management. Moreover, GitLab is trusted by some well-known industry-leading companies including Nvidia, Siemens, and Drupal. GitLab has received funding from Google Ventures in both Series C and Series D rounds of funding.
DocuSign
Industry: Software GV Investment: $8.1 Million
Docusign | Google Ventures | Startup Funded By Google
A leader in eSignature transaction management, DocuSign has become an industry and global standard for eSignatures. DocuSign gained popularity with the help of Google. DocuSign has garnered a user base of over 500k customers and hundreds of millions of signers. DocuSign was introduced and established based on the fact that most modern businesses will need to go online and hence the online document management needed to be taken into consideration. Google Ventures invested in Series D round in June 2012.
Magenta Therapeutics
Industry: Healthcare & Life Science GV Investment: $8 Million
Magenta therapeutics | Google Ventures | Startup Funded By Google
Magenta Therapeutics is a leading expert in harnessing stem cell biology for safer transplants. It endeavours to reset a patient’s immune system through stem cell transplant to cure diseases such as blood cancer. It is also developing novel medicines through commitment and excellence. Also, Magenta is revolutionizing medicine by precisely removing disease-causing cells and revamping stem cell mobilization.
“Magenta is harnessing stem cell biology to make transplants safer and more effective for patients with immune and blood-based diseases.” Says Google Venture.
One Medical
Industry: Healthcare GV Investment: $13 Million
One Medical | Google Ventures | Startup Funded By Google
One Medical is currently trying to reinvent healthcare with innovation and technology. As of now, One Medical offers and schedules in-person or over video appointments, 24/7 on-demand video chats with a virtual medical team, over 90 drop-in lab services, along COVID-19 testing and care. Moreover, OneMedical acts as an employee benefits partner for over 7000 companies. Google Venture invested Private Equity round of funding in December 2015.
Zipline | Google Ventures | Startup Funded By Google
Zipline is a company that delivers life-saving medicines and drugs to remote and previously unreachable parts of the world using electric planes and drones. It makes precise, on-demand and critical deliveries, wherever and whenever needed, with safety and reliability. The access to on-demand delivery is made global, owing to Zipline, and it seeks to replace the traditional delivery system with customer-centred and cutting edge technology. Google venture Invested in Series C round of funding in May 2019. In the last funding round in June 2021, Zipline has raised a funding of $250M which made the startup valuation to be $2.5 billion.
Farmer Business Network
Industry: AgriTech GV Investment: $15 Million
farmers Business Network | Google Ventures | Startup Funded By Google
Farmer Business Network is a tool that helps farmers understand and enhance their crops and yields with advanced insights and real-time data analysis. It is a global Agritech company and seeks to help farmers reduce production costs, maximize crop yield and output, and make informed and confident decisions when it comes to crops. Farmer Business Network can help farmers manage contracts, select seeds, monitor fields, and organize operations with premium crop marketing and financial services. FBN raised a funding of $15 million in 2015 from Google Ventures. Recently, they raired $870 million in series G funding round in November 2021.
“Farmers Business Network generates powerful insights from real-time data to help farmers understand and improve their crop performance.” says Google Venture.
Sense
Industry: Artificial Intelligence GV Investment: $16 Million
Sense | Google Ventures | Startup Funded By Google
Sense is an artificial intelligence-driven talent engagement and communication platform that was founded by Dharni and Pankaj Jindal in 2015. The company has its headquarters in San Francisco and is known for providing enterprise-ready solutions that provide a system of engagement for talent acquisition teams.
Sense has so far helped many companies find, recruit, deploy talent and automate manual tasks for recruiters. The company has raised $16 million as part of its Series C round from Avataar, Google Ventures, Accel and Khosla Ventures. The company is said to use these funds to get a foothold in the Indian market, add new products, expand its team and go into newer geographies.
Scribble Data
Industry: Machine Learning GV Investment:
Scribble Data | Google Ventures | Startup Funded By Google
Scribble data is an ML engineering product company that offers ML Feature Store for mid-market enterprise data teams. The company is known for its flagship product known as Enrich, which is a highly customizable Machine Learning Feature. Scribble Enrich is a store product that allows data scientists to develop and manage production-ready datasets that are used to train ML models faster and with confidence.
Data-driven companies such as Google and Amazon have invested an undisclosed amount of money into the company in May 2020. Google funding for startups such as Scribble, has helped the platform to scale and deliver Enrich in international markets for enterprise-grade Machine Learning products.
Jio Platforms is an Indian technology company and a subsidiary of Reliance Industries. The company has its headquarters in Mumbai, Maharashtra. The company acts as a holding company for Jio (which is India’s largest and the world’s third-largest mobile network) and other digital businesses of Reliance. As of 2020, Jio platforms became the fourth largest Indian company by market capitalization.
In November 2020, Google-funded $4.5 billion to the Jio platform, which makes it the biggest-ever investment in an Indian company. Google now reportedly holds over 7.73% share in the company. The company has now raised a total of Rs 1.52 lakh crore by selling an almost 33% stake to over 13 financial and strategic investors in under 11 weeks. This will help the company to cut down Reliance’s net debt target for the full fiscal year.
Wysa
Industry: Artificial Intelligence GV Investment:
Wysa | Google Ventures | Startup Funded By Google
Wysa is an AI-enabled life coach designed especially for mental and emotional wellness. The company was initially launched in 2017 and provides its users with the ability to activate coach and chat anonymously. The company provides early intervention through 3 methods, which are an AI chatbot, a library of self-help tools, and messaging-based support from human psychologists.
Google Ventures India, has funded an undisclosed amount in the AI Platform in May 2021. Wysa was a part of the first batch of 10 startups for Google Launchpad Accelerator India, which was held in 2018. In 2021 however, the Sleep by Wysa app was awarded the best app by the Google Play Store. According to Crunchbase, the company has so far raised $3.9 million from three funding rounds.
Dailyhunt
Industry: Social Media GV Investment: $33 Million
Dailyhunt | Google Ventures | Startup Funded By Google
Dailyhunt is one of the leading Indian content and news aggregator app. The company has its headquarters in Bengaluru, Karnataka. The platform provides news in 14 Indian languages from multiple content providers to over 300 million users. In 2015, Dailyhunt became the largest Indian language distributor of e-books having 70,000 titles in ten languages.
As of December 2020, Dailyhunt has raised over $100 million from Google, Microsoft and AlphaWave among other investors. Google funding rounds helped the company become a Unicorn as its value increased to over $1 billion. The company is planning to use the funds to scale its Josh app, which is an augmentation of local language content offerings. Google-funded startups in India with a budget of over $10 billion over a few years.
Glance
Industry: GV Investment:
Glance | Google Ventures | Startup Funded By Google
A google-funded startup called Glance is a startup that was founded in 2018. The company serves news, media content and games on the lock screen of more than 100 million smartphones. The company is a subsidiary of InMobi Group and is known for using AI to offer a personalized experience to its users.
The company raised over $145 million in a new financing round from Google and existing investors like Mithril Partners. According to Google, Glance is a great example of innovation solving for mobile-first & mobile-only consumption, and providing content across many Indian languages. Google funding for startups like Glance, has helped them evolve and grow their audience.
FAQs
What is Google Venture (GV)?
Google Ventures is a venture capital investment firm of Alphabet, the parent company of Google.
Who is the CEO of GV (formerly Google Ventures)?
David Krane is the CEO of GV.
How many companies have Google Ventures funded?
Google Ventures has funded more than 500 companies. Some of them are:
Slack
Uber
Medium
StockX
Stripe
GitLab
DocuSign
Magenta Therapeutics
Dailyhunt
Glance
What are the sectors Google Ventures invest in?
Google Ventures invests across all stages of startups and varied sectors. The major industries in which Google Ventures invests are:
Enterprise
Life sciences
HealthCare
Consumer
Frontier technology.
How do startups get funded?
Startups use various methods for funding:
Small Business Loans
Trade Equity or Services
Incubator or Accelerator
Crowdfunding.
Who owns Google now?
The parent organization of Google is Alphabet Inc.
What do startups use the funding for?
Startups raise funds for various reasons, mainly for the growth and expansion of their business.
Who are the founders of Google?
Larry Page and Sergey Brin are the founders of Google.
Fintech, short for financial technology, has become a crucial part of the global economy., all financial tasks were completed through paperwork only, as a paper-based medium was considered to be the safest. But with the development of technology, the internet has emerged as the preferred platform for financial transactions.
It is essentially an economic industry composed of companies that use technology to make financial services more efficient. They are used mainly by individuals to help in mobile payments, insurance, cryptocurrency and blockchain technology, stock trading, digital lending and credit, budgeting and much more. Tech-focused startups and similar new market entrants are disrupting the way in which the financial services industry conducts its operations.
India has the world’s second-biggest fintech hub with more than 2,565 startups operating currently, there were only 737 in 2014. India’s largest share from fintech startups is through ‘payments’ and is followed by lending, wealth tech, personal finance, insurtech, regtech and others.
Let’s look at the list of the top fintech companies in India.
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Paytm was founded in 2010 and is India’s largest payment company that offers consumers multi-source and multi-destination payment solutions. They allow consumers to make payments from any bank account to any other bank account free of cost, i.e., 0% fee charges. Over 8 million merchants have availed its comprehensive payment solutions.
Paytm was founded by Vijay Shekhar Sharma and is owned by One97 Communications and is licensed by RBI. The Paytm app allows users to shop for both physical and digital goods, and also pay for DTH plans, bill payments, and mobile recharges.
The company partnered with Alibaba’s cloud computing arm – ‘AliCloud’ to expand its payment network on a global scale. They have investors like Berkshire Hathaway, SoftBank Group, and MediaTek and even raised an undisclosed amount from Ratan Tata in March 2015. It is arguably the biggest fintech startup in India.
2. Razorpay
Founder: Shashank Kumar, Harshil Mathur
Founded: 2013
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Founded in Bangalore, Razorpay focuses on the payment needs of startups and enterprises. With Razorpay, merchants can easily accept, process, and disburse money to and from their dealers. It was founded in 2014 by Harshil Mathur and Shashank Kumar.
Thousands of clients use its service as it allows an online business to accept, process, and distribute digital payments through various modes like debit cards, credit cards, net banking, UPI, and prepaid digital wallets. It is one of the biggest fintech companies in Bangalore.
3. Upstox
Founder: Ravi Kumar, Kavitha Subramanian and Shrini Viswanath
Founded: 2009
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Upstox provides financial services such as investments in stocks, mutual funds, derivatives, commodities, ETFs, and digital gold. It ensures full transparency in pricing by offering zero brokerage for equity trades and up to INR 20 per order for intraday, commodities, and currencies.
The founders, Ravi Kumar, Kavita Subramanian, and Srini Vishwanath conceived this idea of making trading and investing easier and cheaper and created Upstox for fellow young Indians. The Mumbai-based company is backed by industry giants like Tiger Global and Ratan Tata and currently has more than 250 employees and the fintech is striving to make trading a second nature for its users.
4. Cred
Founder: Kunal Shah
Founded: 2018
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Cred is a fintech startup founded by Kunal Shah, the founder of FreeCharge. The app aims to make paying credit card bills simpler and rewards you for paying them on time. The app asks for your phone number to check your credit score with Cibil, CRIF and Experian.
5. ETMoney
Founder: Mukesh P Kalra
Founded: 2005
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ETMoney is a full-stack investment platform with a wide range of products in the domains of investments, credit cards and loans, insurance, and financial tools. It aims to simplify the financial journey of retail customers.
ETMoney was founded by Mukesh Kalra in 2015. A passionate company that indulges in personal finance, has become the first fintech company in India to introduce Aadhar-based SIP payments. With more than 100 crore bank accounts linked to Aadhar, the company plans to simplify installment payments with Aadhar OTP verifications.
The company has also partnered with Google Pay for a simplified way to invest in Mutual Funds and National Pension System.
Sampad Swain, Akash Gehani and Aditya Sengupta co-founded Instamojo in September 2012. Instamojo started as a solution provider of digital payments which now has progressively grown into a robust online platform for enterprises like micro, small, and medium so that they start, manage, and grow their businesses online.
MojoCapital from Instamojo helps disperse bite-sized short-term credit loans which are worth around $2 million. MojoCapital caters primarily to its merchants on a monthly basis, and it has shown a projected growth of 25% on the month on month basis.
PolicyBazaar is an online insurance aggregator for comparative analysis of products that are offered by various insurers using parameters like price, quality, and key benefits. It helps users compare insurance policies and assists them in selecting the best or the most relevant policy that can be purchased online or offline.
PolicyBazaar was founded by Yashish Dahiya, Alok Bansal, and Avaneesh Nirjar in June 2008 in Gurugram. They have raised over $650 million as of 2020. The online platform began as a price-comparison website and an information portal for learning about insurance and related programs; it then expanded to become a marketplace for insurance policies.
PolicyBazaar has tied up with insurance brokers which helps it procure information such as price, benefit, insurance cover, etc. directly from the insurers for the customer to compare. They do not charge anything from the customer for their service. The revenue for the company is generated from the fees charged for the marketing and advertisement stints done by insurance companies on its platform.
MobiKwik is an Indian fintech company that was founded in 2009 by Bipin Preet Singh and Upasana Taku. It is headquartered in Gurugram. MobiKwik is a digital wallet service provider that offers services mobile and online payments, phone and DTH recharge, mobile transfers, online shopping and a lot more.
It allows users to store up to INR 50,000 in a MobiKwik wallet that can be used to recharge mobile, pay bills, and shop across various channels. Their users can also use the partial payment feature for ticket reservations and cash pick-up for bus tickets booking.
MobiKwik’s investors include Sequoia Capital, NET1, GMO Venture Partners to name a few. Post demonetization, MobiKwik has made it free to transfer money from your wallet to your bank account.
Before demonetization, they used to charge 4% for a non-KYC compliant user and 1% fee for a KYC (know your customer) compliant user. They have over 100 million users across India and many more are being added. Non-KYC compliant users can transfer from INR 1000 to INR 20,000 to their bank account. But once your KYC is done, you can store upto INR 1,00,000 in your MobiKwik wallet.
9. ZestMoney
Founders: Lizzie Chapman, Priya Sharma and Ashish Anantharaman
Founded: 2015
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Do you want to buy something offline on EMI but don’t own a credit card? Zest Money has a buy now pay later policy and offers an EMI option that you can use to purchase things online or offline from its partner merchants. It is another Bangalore-based startup founded by Lizzie Chapman, Ashish Anantharaman, and Priya Sharma.
10. Lendingkart
Founder: Harshvardhan Lunia and Mukul Sachan
Founded: 2014
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Lendingkart is an online financing company founded by Harshvardhan Lunia and Mukul Sachan in 2014. Lendingkartprovides loans for working capital needs for SMEs (small and medium-sized enterprises); these loans are quick and collateral-free with minimal paperwork.
The company works across1300 cities and has disbused loans over INR 3,500+ crores till date (2020). Aditya Birla Capital, Saama Capital, Mayfield Fund, Bertelsmann India Investments (BII), and Darrin Capital Management are some of its prominent funding partners. In March 2016, Lendingkart entered into a strategic partnership with Mahindra’s SmartShift – a digitally enabled aggregator for cargo owners and transporters.
Lendingkart has access to a huge amount of data from data partners dispersed across the country. These data partners provide Lendingkart with diverse information about the vendor: educational qualification, family background, reputation, competitiveness in the market, etc.
Refrens is fairly new to the fintech industry in India. It was founded by Naman Sarawagi and Mohit Jain in 2019. Refrens provides a payment gateway system for freelancers to send and receive payments smoothly.
It offers free invoicing, payments, and expense management systems. For freelancers, it becomes easy to enable options like adding payment methods, offering discounts, etc. for their clients. It is so easy to use that it is possible to create an invoice in just 30 seconds.
Pine Labs is a Gurugram-based fintech platform that provides PoS (Point of Sale) software solutions for offline retailers and brands. It was founded in 1998 by Lokvir Kapoor, Rajul Garg and Tarun Upaday.
They initially offered a smart card-based payment and loyalty solution for the petroleum sector. It then introduced a PoS machine for offline merchants. Its ‘Plutus PoS’ solution is a cloud-based software that can be integrated with a generic POS terminal to allow retailers to accept debit and credit cards, e-wallets, QR codes, and UPI-based payments.
Pine Labs’ offerings include marketing tools, reporting and analytics, payment gateway API solutions, mobile payment solutions (via myPlutus), loyalty and gift card programs, value-added solutions like EMIs, discounts, pay by points, loyalty solutions, e-wallets and others.
The mobile app of Pine Labs is available on Android and iOS and can be used for targeted promotions, dynamic currency conversion and more. In 2017, Pine Labs launched its complete suite of services in Southeast Asian markets; it is present in Malaysia.
13. MoneyTap
Founders: Bala Parthasarathy, Kunal Varma, and Anuj Kacker
Founded: 2015
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MoneyTap is India’s first app-based credit line. It provides you credit and you can repay your credit amount in flexible EMIs of 2 to 36 months. MoneyTap aims to make credit accessible to the Indians who use internet banking.
It uses customers’ details to evaluate the user’s eligibility and decide the credit limit. MoneyTap was launched in 2015 by Bala Parthasarathy, Kunal Verma, and Anuj Kacker.
14. Khatabook
Founders: Ravish Naresh, Dhanesh Kumar, and Jaideep Poonia
Founded: 2017
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Founded in October 2018, by Ashish Sonone, Dhanesh Kumar, Vaibhav Kalpe, Jaideep Poonia, and Ravish Naresh, Khatabook is the world’s fastest-growing SaaS company. It has become India’s leading business management app for MSMEs with 20M+ downloads in a remarkably short period of time.
This Bangalore-based mobile app service shares WhatsApp and SMS reminders to users when money is due to be paid or collected. Khatabook enables micro, small and medium merchants to track business transactions safely and securely.
Capital Float is a Bangalore-based digital finance company founded by Sashank Rishyasringa and Gaurav Hinduja that provides working capital loans and term loans to small businesses via a technology-led loan origination and credit underwriting platform.
Capital Float offers loans ranging from INR 1 lakh–INR 1 crore with terms between 1 – 12 months. The offered loans are based on cash flows, expected receivables, financials, CIBIL scores, and bank statements. Individuals can apply online for the loan and once the loan is approved, it is disbursed to their bank account.
If you have ordered from well-reputed corporate customers, you can borrow up to 80% of the value of an outstanding invoice, and repay only after you receive payment from your customer. The company has partnered with startups like Shopclues, Paytm, and Uber.
16. Shiksha Finance
Founders: V L Ramakrishnan and Jacob Abraham
Founded: 2014
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Many individuals have the potential to become great students but the exorbitant tuition fees of educational institutions hinder them from pursuing education. Shiksha Finance provides short-term loans to students for their fees. The loan ranges from INR 10,000-INR to 30,050 and must be paid within 6-10 months. For a private school or college, the loan can range from INR 1 lakh-INR 73.5 lakh and can be paid within 6 months to 5 years. It was founded by Jacob Abraham in 2014.
Founded by Chandu Sohoni and Poorna Nayak in 2013, Amigobulls provides solutions to wealth management-related problems. You can get the daily stock analysis in the form of short, personalized videos.
The personalized videos are created automatically using Amigobulls’ technology; thousands of videos can be created in a few minutes. This fintech company offers investment advice and news to stock market investors through a patent-pending video generation technology.
18. KredX
Founders: Manish Kumar and Anurag Jain
Founded: 2015
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KredX isIndia’s first invoice discounting marketplace platform. It helps businesses gain quick access to working capital in around 24 to 72 hours by selling their unpaid receivables while providing investors with an opportunity to earn low-risk high returns through a unique short-term investment.
Founded by Anurag Jain, the company provides a technological platform that connects investors, both institutional and individual, with high-growth businesses looking for working capital through invoice discounting.
KredX’s objective is to facilitate short-term working capital to the SMEs raised against blue-chip companies to a network of financiers. KredX’s recent acquisition of Hummingbill, a New York-based startup – to strengthen technological capability has assisted the former to progress its growth curve in the lending space.
Founded by Ranjit Punja, Gowri Mukherjee and Rajasundaram Sudarshan in 2011, Credit Mantri is a credit facilitator which uses data and technology to help people make better financial decisions. It provides an Equifax credit score that is one of the four credit bureaus authorized in India by the RBI.
Anyone who needs credit can create a credit profile on CreditMantri’s website to apply for loans and credit card offers based on his or her credit profile. The Equifax score is used by CreditMantri to analyse the individual’s credit profile
Headquartered in Mumbai, Mswipe provides software solutions and payment devices to merchants. Mswipe works with all kinds of bank accounts; hence, merchants don’t have to open a new account for their devices. The company was founded in 2011 by Manish Patel.
21. Financial Software Systems (FSS)
Founders: Nagaraj Mylandla
Founded: 1991
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Financial Software Systems Pvt. Ltd. was founded in 1991 and is a Chennai-based fintech venture that provides electronic payment and financial transaction processing solutions and services globally. Financial Software Systems records all of the financial activities within a business organization.
Its products include card management, merchant management, mobile payments, financial inclusion, messaging middleware, and value-added solutions. FSS also offers software services that include systems integration, offshore development, project management and implementation, and 24/7 global helpdesk support services.
22. BankBazaar
Founder: Rati Rajkumar
Founded: 2008
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BankBazaar is a Chennai-based online financial platform founded in 2008 by Adhil Shetty, Arjun Shetty, and Rati Shetty for product distribution and comparison analysis. It enables users to buy personal loans, home loans, auto loans, and education loans.
BankBazaar also offers debit and credit cards, life insurance, health insurance, auto insurance, travel insurance products, mutual funds, fixed deposits, and savings accounts. With multiple offers from multiple banks, you can compare offers and check your eligibility in minutes.
Users only need to provide basic details to apply for a product online and can track its status. BankBazaar’s revenue comes from application-based commissions from banks. Customers don’t need to pay any charge.
23. Active.Ai
Founder: Ravi Shankar, Parikshit Paspulati, Shankar Narayanan
Founded: 2016
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Active.Ai provides chatbot solutions to all types of banks and other financial institutions. Although it is a Singapore-based startup, it has a lab in Banglore and was founded by 3 Indians – Ravishankar, Shankar Narayan, and Parikshit Paspulati in 2016. The main focus of Active.Ai is on the banking sector.
24. Finly
Founder: Vivek Alike Ganapathy
Founded: 2017
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Finly lets companies and startups analyse their expenses. Besides expense management, Finly also eases the process of fund disbursement, vendor payment, and helps with the automation of collection. It builds financial software products to save the companies money and time. It was founded in 2015 by Vivek AG.
25. Ezetap
Founder: Byas Nambisan
Founded: 2011
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Ezetap, co-founded by Abhijit (Bobby) Bose and Bhaktha Keshvachar, provides businesses and financial institutions with smart technological transaction solutions. The Company develops and commercializes a mobile point of sale (PoS) solution that allows mobile devices to be converted into PoS terminals by connecting a card-reader to the headphone jack of the device.
Financepeer helps to pay the entire year fees upfront to the School in one installment and collects fees in 3 to 12 monthly installments from parents at 0 Interest and 0 Cost. It is a Google incubated School (K-12) Fee Financing Company.Rohit Gajbhiye, Naveesh Reddy, Sunit Gajbhiye and Debi Prasad Baral launched Financepeer in 2017 to cater to an audience that cannot afford to pay the school fees all at once.
Loanwalle.com was founded by Sachin Mittal in 2015. It deals in payday loans which are quick emergency loans disbursed in 30 minutes from the time it is applied for. To fulfill the fast money requirements of the customers, the loan approval process is fully automated and is based on an algorithm that assesses the applicant’s creditworthiness.
28. Money View
Founder: Puneet Agarwal and Sanjay Aggarwal
Founded: 2014
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Money View was launched in 2014 by two IIT friends, Sanjay Aggarwal and Puneet Agarwal. Money View is a loan financer, and also helps in planning overall finances. Itcaters for the user with personal finance management, to keep a check on everyday finances and also provides loans ranging from INR 10,000 to 5,00,000 within a day or less. The application provides the user with a view of their bank balance, income spends, and income dues by pulling from their SMSes.The app runs and is updated even without internet connectivity.
29. Cube Wealth
Founder: Satyen Kothari
Founded: 2016
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Cube Wealth was founded by Satyen Kothari in 2016, who had previously founded Citrus Pay. Cube Wealth provides comprehensive portfolio management solutions to help busy professionals achieve their goals through investments.
The app helps individuals to invest in multiple asset classes including equities, mutual funds, P2P lending, gold, and even charitable investing to build a well-rounded portfolio. It is a subscription-based automated wealth technology application that works on the concept of disciplined long-term wealth creation.
Goal Teller founded by Vivek Banka in 2020 is a financial planning platform that allows users to build their own financial plans. It is a fintech startup in the investment planning space and is operating in the B2C space.
31. Kuants
Founders: Ayush Gangwar, Mohit Bansal
Founded: 2017
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Kuants was founded in the last month of 2017, by Ayush Gangwar and Mohit Bansal. Their inspiration for the startup was to ensure that technology never acts as a barrier to a stock trader while exploring the domain of algorithmic trading. Kuants is a Fintech startup based in Gurugram, making algorithmic trading easy for those who cannot code themselves.
Akshat Saxena, Aurko Bhattacharya and Uday Somayajula are the founders of ePayLater. ePayLater provides credit at the point of sale. It offers a simple checkout experience by providing customers with the ability to conclude a transaction with just one click of a button. It is a ‘Buy Now, Pay Later’ solution through which customers can get access to an instant credit limit to make faster purchases.
PayKun was launched by Nikunj Yadav, Prashant Kambad, Vijay Yadav, Deepak Dabhi and Nirav Solanki, who were five friends from Gujarat. It was founded in the year 2018, with the primary intention to introduce ease and integrity into the online payment system. PayKun is an online payment gateway integrator that allows merchants to integrate any payment gateway they prefer. It is an affordable and secure solution for sellers. And what’s more, it does not require the user to have any technical skills to use it.
PaisaDukan was established by Rajiv M Ranjan in 2017 . It is a P2P platform that acts as a mediator between investors and borrowers. The company serves as a digital marketplace to enable borrowers to meet their financial needs, provide investors with a safer and smarter investment option and aid financial inclusion.
35. Cashfree
Founders: Reeju Datta, Akash Sinha
Founded: 2015
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Cashfree, a full-stack payments solution is incubated and backed by PayPal and YCombinator respectively. Cashfree helps global and Indian businesses collect and disburse payments via 100+ payment methods including MasterCard, Visa, RuPay, UPI, NEFT, IMPS, Paytm, and other wallets.
It also claims of being India’s leading API banking platform. Other than payment gateway products, Cashfree has products such as UPI auto pay, Refunds Suite, Auto collect options and Marketplace settlements. Cashfree has integrated with major platforms such as Shopify, Amazon Pay, PayPal, Google Pay, and Ola Money.
36. CoinDCX
Founders: Sumit Gupta, Neeraj Khandelwal
Founded: 2018
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Founded by IIT Bombay alumni Sumit Gupta and Neeraj Khandelwal in April 2018, CoinDCX is a beginner-friendly crypto exchange platform.Investment in cryptocurrency has been made easy by CoinDCX. The platform also enables users to access a wide range of financial products and services backed by insurance protection.
The crypto platform with 1 lakh active users has a more than $40 million trading volume. Backed by hedge fund giant Polychain Capital, the platform offers crypto transactions at no cost to investors. For those who trade, it charges a fee of 0.1%.
The company recently launched CoinDCX Go. This product runs on the 7M framework which studies and analyses the depths of the crypto market and predicts future threats. On this platform, crypto assets are listed with uncompromising listing criteria. The product accommodates currencies like Bitcoin, Ripple, Ethereum, Tron, Bitcoin Cash, Matic, Litecoin, etc.
Easy Home Finance is a housing finance company that offers home loans through a paperless route. The Mumbai-based company was founded by Rohit Chokhani. It is registered under National Housing Bank Act as a housing finance company and aims to tap the market using a paperless experience.
Its products include home loans, home construction/extension loans, loans against property, and loans through Pradhanmantri Awas Yojana. They also have a pre-approved property database for home options and instant loan approvals.
The company, backed by Harbourfront Group, aims to streamline the onboarding, assessment, and management of home loans through an AI-based lending platform. Easy Home Finances is focused on providing home loans to first-time buyers and women who wish to enter the property market and also targets customers in Tier 2 and Tier 3 cities across India. It is also set to launch a Product-as-a-service (PaaS) with co-lenders and other financing companies.
38. Recko
Founder: Saurya Prakash Sinha
Founded: 2017
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Recko is a Bangalore-based fintech startup that is into the reconciliation of companies. It offers financial services to e-commerce companies, banks, and insurance providers who have huge volumes of transactions. It is a third-party transaction layer that ensures authenticity and transparency in all recorded transactions. Recko’s workings mainly rely on AI models to comprehend and collect data, connecting payment gateways, banks, and customer management systems.
Backed by Prime Ventures Partners and several angels, Recko was founded by Suarya Prakash Sinha and Prashant Borde. The fintech company claims to have reconciled accounts worth $5 billion to date and has integrated with big names in the fintech industry such as Myntra, Pharmeasy, Meesho, Dunzo, Townscript, and Grofers.
39. FypMoney
Founder: Kapil Banwari
Founded: 2021
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Owned by Pockket Payment Technologies Ltd, FypMoney is a platform introduced for financial literacy in teenagers. The platform aims to target the age group 11-19 who comprise 15-20% of smartphone users. In a seed funding round, it has raised $2 million from angel investors including Leberatha Kallath, Mukesh Yadav, and Dinesh Nagpal.
FypMoney takes into consideration the concerns of parents with teenagers and has introduced features like instant pocket money transfers, tracking spending patterns with real-time transaction alerts, and setting transaction limits.
As for teenagers, it is equipped with quick transfer options like UPI, referral bonuses, Fyp Debit card, online investments in Mutual funds, savings, and a social community to interact with FypMoney users. The founder, Kapil Banwari believes that this platform will make teenagers aware of financial aspects, get them into a habit of saving and educate them about personal finance.
40. Avail Finance
Founder: Ankush Aggarwal
Founded: 2017
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Avail Finance is a fintech startup based in Bangalore that exclusively focuses on the blue-collar workforce and aims at introducing credit facilities and financial literacy to them since they’re seldom aware of it. It provides them with a neo-banking platform and includes every individual on a credit hunt, under the financial umbrella.
The startup aims to reach that segment in the financial market that is oblivious to credit card penetration, has no credit history, and has a low to almost zero CIBIL score. The platform offers other financial services including savings, insurance, and investment products. Founded in 2017 by Ankush Agrawal and Tushar Mehndiratta, the startup has raised around INR 85 crore in a funding round led by Alpha wave Incubation.
Upwards is a fintech company that offers personal loans up to INR 2 lakhs within 24 hours to salaried individuals with no credit history and whose earning capacity is at least INR 15000 per month. The fintech has a wide range of personal loans that cover weddings, travel, studies, medical emergency, and home renovation. The company charges an interest rate of 18-32% on its financial products.
The Mumbai-based startup is currently active in more than 30 cities including Tier 2 and Tier 3 towns. Founded in 2017 by alumni of IIT Delhi Abhishek Soni and Nimesh Verma, the company has disbursed INR 4 crore since its year of inception and is 40% of its credit demand coming from smaller towns of Karnataka, Rajasthan, and Tamil Nadu.
KreditBee is a personal loan platform for self-employed and salaried professionals where they can avail of a loan starting from INR 1000 to INR 2 Lakhs with minimal paperwork and tenures from two to fifteen months. It offers loans to even those without a credit history. It hosts multiple non-banking financial companies (NBFC) that are licensed by the Reserve Bank of India. This includes KrazyBee Services Pvt Ltd which is a non-deposit financial institution that offers innovative technology and availability of credit.
Founded in May 2018 by a bunch of intellectuals from various IITs across India, KreditBee currently has more than 1200 employees and a user base of 20 million. Through its holding entity Finnov, KreditBee has recently raised $70 million which it says will be utilized towards scaling up the lending portfolio beyond personal loans.
43. Finin
Founders: Suman Gandham and Sudheer Maram
Founded: 2019
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Finin is a fintech startup that has launched itself as a “neobank”, in partnership with SBM bank, a wholly-owned subsidiary of the State Bank of Mauritius in India. It is a platform that focuses on saving rather than lending. The “neobank” has an AI-driven experience for its users which gets insights from your spend-save behaviour. It can be linked to all your bank accounts and keeps a track of your transactions and budgets. Users also receive customized investment options and hyper-personal financial tips that take into consideration your pay cheque, lifestyle, marital status, and more.
Finin users have to rely on SBM branch networks for banking activities and the physical branches which are currently operating in Mumbai, Chennai, Bengaluru, and Hyderabad. Going against the flow, founder and CEO Suman Gandham believes Finin will make more revenue from wealth management services rather than lending services.
Founders: Samant Sikka, Sanjeev Sharma and Dhananjay Singh
Founded: 2016
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Sqrrl is an investment and wealth management platform for young individuals and professionals. The company is registered under AMFI and SEBI and is available in 9 Indian languages. It encourages Indians to save and invest better while guiding them towards building an investment portfolio with baby steps.
The company uses machine learning, AI, and data science to offer one-on-one assistance encouraging users to invest in high-performing mutual funds based on the risks, their goals, and requirements.
Based in Gurgaon, Haryana, Sqrrl has a team of 40 people including the founders namely Dhananjay Singh, Sanjeev Sharma, and Samant Sikka.
45. Moneyfront
Founders: Mohit Gang, Anil Bang, and Puneet Mehta
Founded: 2015
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Moneyfront is a wealth management platform that allows you to invest in funds and keep a track of them. While many other platforms offer the same, Moneyfront uses a comprehensive database, news, and statistics and lays out the best options for its users. It provides model portfolios so that you have more options and you can measure your risk appetite and choose what’s best suited for your goals.
The fintech company tied hands with Niyogin Fintech, which provides collateral-free credit to MSMEs. Reportedly, Niyogin has acquired a 50.1% stake in Moneyfront for INR 12 crore.
Founders: Archit Gupta, Srivatsan Chari, Ankit Solanki, Raja Ram Gupta
Founded: 2011
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ClearTax is a financial services platform that helps individuals, tax experts, SMEs, and enterprises streamline income tax returns, GST, Invoicing, Billing solutions, and more. Cleartax helps businesses save 2-7% of their net GST every month while individuals have saved up to INR 86000 by filing their tax returns through them.
The company recently launched a GST-compliant billing and e-invoicing product called ClearOne. ClearOne is an easy, affordable, and compliance-proof solution for all the challenges faced by SMEs. Founded by Archit Gupta, Srivatsan Chari, and Ankit Solanki, ClearTax is helping millennials pay their own taxes in a simple and hassle-free manner.
47. Groww
Founders: Lalit Keshre, Harsh Jain
Founded: 2016
Groww has become the unicorn in the fintech industry by raising $83 million in a funding round led by Tiger Global. The company has raised $140 million as capital so far. With a freshly acquired unicorn status, Groww is an investment platform that allows individuals to invest and trade in stocks, mutual funds, US stocks, and Gold. it also has fixed deposit options for conventional investors.
Backed by a huge force of investors such as Sequoia Capital India, Ribbit Capital, Y Combinator, Kauffman Fellows, Propel Venture Partners, and Kairos, Groww plans to deploy its funding into introducing financial educational content for its 1.5 crore registered users.
LoanTap is an NBFC registered under RBI that offers flexible personal loans which are EMI-free (partial repayments of principal amounts), and allows personal overdraft and debt consolidation loans that are best suited for your lifestyle and requirements. Whether it’s an upcoming holiday, a wedding, a loan repayment, a new vehicle purchase, or a business loan, LoanTap covers it all.
The Pune-based company recently tied hands with the Bank of Maharashtra into a co-lending agreement. This agreement would help the bank meet its priority lending target through a digital lending platform like LoanTap by avoiding visits to the branch and easier loan disbursals.
49. RevFin
Founder: Sameer Aggarwal
Founded: 2018
Revfin Logo
Founded by an alumnus of IIT Kharagpur, Sameer Agarwal, RevFin is a digital lending platform that offers loans through its own NBFC. Its products include regular personal loans and Revloans, which is an unsecured credit limit that a customer can use at any time as per their convenience. RevFin has currently financed E-Rickshaws in several towns across India which include Kolkata, Jhansi, Dehradun, Hisar, and Delhi.
Headquartered in Delhi, RevFin was founded in 2018 and has captured the sector of vehicle loans for three-wheelers and two-wheelers. The fintech is backed by several angel investors including Harsh Jain, Anil Goyal, Anil Lamba, and Krishna B Singh.
50. PayU
Founders: Jose Velez, Martin Schrimpff, Arjan Bakker, Grzegorz Brochocki, Nitin Gupta, Shailaz Nag
Founded: 2002
PayU Logo
PayU is one of the best fintech companies in India that provides a payment gateway and payment solutions for online merchants. The platform provides a seamless experience when users check out a particular website or mobile app. It integrates various gateways such as net banking, Visa and MasterCard, UPI, and wallets.
PayU has integrated with giants like Netflix, Myntra, and Cred with unique payment solutions where customers can choose any payment option on any platform or website. It also enables customers to accept payments outside India from 100-plus countries.
PayU India is the flagship company of Naspers Group, based in London. It has also launched an alternate lending platform called LazyPay to offer credit solutions such as Small ticket credit (Buy now pay later), App-based Loans, and Point of sale credit (Merchant EMI).
Conclusion
Startups work hard on their products, marketing, and other business activities but forget about one crucial aspect: finance. Managing one’s finances is of utmost importance. Business is all about money, you can’t run a business if you don’t think about money. This list of fintech startups in India should help you understand the advancements in the world of Finance and give you an insight into India’s biggest and top fintech to keep an eye out for.
There are more than 2000 fintech startups in India as of 2022.
What are some of the biggest fintech startups in India?
Some of the biggest fintech startups in India are,
Paytm
Cred
Razorpay
Instamojo
Lendingkart
MoneyView
Paykun
PaisaDukan
Mswipe
Kredx
What is FinTech Company India?
Financial technology is abbreviated to FinTech and it comprises companies that use technology to offer financial services. It has emerged as a relatively new industry in India.
What are examples of FinTech?
Some examples of FinTech are mobile banking, mobile payments, trading, cryptocurrency, insurance, trading, and lending to name a few.
The mindset of the people has changed from, over the decade, as now people want to be the boss of their own and don’t want to restrict themselves in the walls of 9-to-5 jobs. This decade brought a hit of entrepreneurs and their startups with amazing ideas and execution, that has helped people and has changed the ways, for people living their lives.
15 Best Startups of the Decade (2010-2020)
Here are the 15 best startups in 2010s which have changed the market of the Indian entrepreneurship-
The idea of ordering food online at the start of the decade was an idea that most of the people didn’t think upon but soon the thought changed with the arrival of food-delivering apps like Swiggy.
Launched in 2014, Swiggy is known as the largest and most valuable food ordering and delivering the platform in India, currently operating in more than 100 cities across India. Online food delivery platform, Swiggy, has launched its third series of television commercials and digital campaign, that are reflective of new-age India and its changing culinary culture. Swiggy tagline is “Swiggy karo, phir jo chahe Karo!”
Paytm
Founded: 2019
Paytm Logo | Best Startups of the Decade
Go cashless has been the motto of 2019 and the public is taking it quite effectively. The wave of online transactions hit India in 2010 when Paytm was launched. PAYTM is an e-commerce system, based in Noida, Uttar Pradesh. It is available in 11 Indian languages and offers online use-cases as mobile recharges, utility, bill, payments, travel, movies, and events booking, in-store payments at grocery stores, fruits and vegetable shops, restaurants, parking, tolls, pharmacies, etc.
Oyo Rooms
Founded: 2013
OYO Logo | Best Startups of the Decade
Whenever it comes to book rooms for a vacation, weekend or a party, the one-stop shop is OYO. Founded in 2013, by Ritesh Agarwal, OYO Rooms is an Indian hotel chain and fastest-growing hospitality chain of leased and franchised hotels, homes and living spaces at cheap prices. It is currently UAE, Nepal, China, Brazil, UK, Philippines, Arabia, Sri Lanka, etc.
Finding bus seats can be quite hectic and without a good seat, going to a long ride can be hectic. So, to save the hassle, one can always go for redbus. An online app company, the user can look up to for buses and book tickets accordingly and get confirmed tickets, without struggling for tickets on the way. Redbus was founded by Phanindra Sama, Charan Padmaraju and Sudhakar Pasupunuri in 2006, however, it became famous after 2010 when Indian people were getting introduced to mobile internet.
Ola
Founded: 2010
Ola Logo | Best Startups of the Decade
Traveling was made much easier and better by OLA, which was founded in 2010 by Bhavish Agarwal. Now, it’s one of the largest cab services in India, with over 250,000 cabs and rickshaws in the app running over 85 Indian cities. The company is expanding its reach everyday. As of 2020, it has expanded its services to UK, Australia, and New Zealand.
Zivame
Founded: 2011
Zivame Logo | Best Startups of the Decade
Zivame is an e-retail lingerie brand for women, founded in 2011 by Richa Kar, to empower women to buy lingerie freely without feeling embarrassed as of in normal offline shops, which is generally filled by men. Meaning of Zivame is ‘radiant me’. It has also been known for showing diversity as it has no age -limit. It sells shapewear, sleepwear, and activewear through both online and offline stores.
Who would have thought in 2000s that we would be ordering groceries online? This thought also came into fruition in 2009 by Abhinav Choudhari, Hari Menon and Vipul Parekh. Now, BigBasket is an online food and grocery store that delivers personal and household needs right to customer’s doorstep. As of 2020, BigBasket is available in almost all the cities of India. Shah Rukh Khan is brand ambassador of BigBasket and bigbasket tagline is “I’m bigbasketeer, Are you?”
Byju’s
Founded: 2011
Bigbasket Logo | Best Startups of the Decade
The Bangalore based educational technology platform Byju’s is an online tutoring and coaching firm that was started in the year 2011 and runs on a freemium model. The main aim of Byju’s is to provide coaching through online video lectures for students of class 1 to class 12 and also for people who prepare for competitive exams like IIT – JEE, NEET, CAT, GRE, and GMAT.
Byjus- the Learning app was launched in the year 2015 by Byju Raveendran and since then it has been a huge success. It is used by more than 15 million students all over the world and has 900000 paid subscribers. The app helps the students to learn on their own rather than the traditional culture of spoon-feeding.
Firstcry
Founded: 2010
Firstcry Logo | Best Startups of the Decade
It is an overwhelming feeling for the new parents to buy all the goods for the baby or the newborn. Firstcry was started to fulfill that demand in 2010, by Supam Maheswari, when he couldn’t find quality toys for his new-born daughter. Now, firstcry sells baby products like diapers, cribs, clothes, nursery items, etc. It has become a popular website for buying baby products from online and offline stores.
Freshdesk
Founded: 2010
Freshdesk Logo | Best Startups of the Decade
Cloud-based software is the need of every brand to store all the data of the consumer. But back in the starting days of the decade, there were very few companies dealing with cloud-based software.
One of the most popular company was Freshdesk ( now known as Freshworks), which was launched in 2010. It was started by former ZOHO employees Girish Mathrubootham and Shanmugam Krishnasamy, who teamed up to create better software to help enterprises do after-sales support more effectively. The founder Girish Mathrubootham, is also a mentor and a key figure in the Chennai startup ecosystem.
Freshdesk’s customers in India include Saavn, Decathlon, Grofers, Lenskart, Oyo Rooms, Byju’s, and Goibibo.
Limeroad
Founded: 2012
Limeroad Logo | Best Startups of the Decade
Fashion has always found its way in women’s shelf, one of India’s most popular online boutique is Limeroad. It was founded in 2012 by Suchi Mukherjee and Ankush Mehra. It is known for being specialized in clothing and accessories for men, women or kids. The online store also allows the users to create their look on a virtual scrapbook by using the brand’s products and also allows users to earn from the scrapbook they create and then, they can use the points on the purchase, at the time of checkout.
Shopclues
Founded: 2011
Shopclues Logo | Best Startups of the Decade
Another big brand which started in 2011, was Shopclues. It was founded Sanjay Sethi, along with former wall street analyst Sandeep Agarwal. Both the founders returned from California, decided to go into a new venture. The company has over 6 lakh merchants and 2.8 crore products on its platform serving over 32,000 pin codes across the country. Although, the company didn’t do well in the market, Sandeep Agarwal did inspire many youngsters to get into entrepreneurship through his journey.
Buying furniture online? That was a dream of people in 2000s! But that dream was completed by Ambareesh Murty in 2012. He teamed up with Ashish Shah, one of the former head of eBay Motors in India and the Philippines and launched Pepperfry. It is a dealer of the best quality furniture and delivers it at the doorstep of the buyer. It has soon gained immense popularity in the country.
Snapdeal
Founded: 2010
Snapdeal Logo | Best Startups of the Decade
With the tagline of “unbox Zindagi’, Snapdeal managed to be a home favorite for varieties of goods ranging from home, fashion, electricals, sports, etc. It sells over 3 crores (30 million) products across 800+ diverse categories from over 1,25,000 regional, national and international brands and retailers and a reach of 6,000 towns and cities across the country. Although this ecommerce venture didn’t do as good as others like Flipkart or Amazon, it was still a big success in the early years of this decade.
Hike
Founded: 2012
Hike Logo | Best Startups of the Decade
Once a very popular youth app for messaging, Hike messenger has left an interesting mark on the market. It was founded by Kavin Bharti Mittal. The hike is a cross-platform instant messaging, voice over IP, social media and peer to peer file sharing app, launched on 12 December 2012.
Conclusion
These startups are known to be change force in the world of startups in the decade and are known to inspire many other startups. 2010s is probably the most revolutionary decade in the entrepreneurship world. However, we hope this decade brings more innovation to lives.
The hunger for success makes you forget about health. You might be engrossed with your startup but don’t work yourself to death for a bright entrepreneurial future. A wise man once said that health is wealth.
The healthcare sector is growing rapidly in the Indian landscape, in terms of revenue as well as market share. The Indian healthcare industry pegged at $100 billion is expected to grow by 23% by 2020 to $280 billion. This growing market has given rise to many health-tech startups in India. They cater to various healthcare segments, help book appointments, sell medicines online, and operate as a commercialized unit of the venture.
We have also covered a list of Pharmaceutical Startups in India.
In this post, we take a look at some prospering, promising, and growing health startups in India. Here is a list of healthcare companies in India:
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One of the biggest healthcare startups in India, Netmeds is an online platform that has firmly established itself as India’s leading online pharmacy with millions of active customers and deliveries to more than 19,000 PIN codes. It is also called ‘India ki Pharmacy’ and offers streamlined shopping for medicines and other healthcare products through its 24×7 online portal and mobile app.
Netmeds is supported by over 14 logistics centers spread across the country. Netmeds has a multilingual voice, chat, and email customer care center and a team of licensed pharmacists who receive, digitize, and approve millions of handwritten prescriptions.
In 2018, Netmeds had 3 million downloads and grew to more than $512 million; it is projected to top $3.645 billion by the year 2022.
ImpactGuru
ImpactGuru Website
ImpactGuru is a tech-for-good platform founded with a vision to make healthcare accessible to all and save more lives. It provides comprehensive crowdfunding solutions to empower individuals, NGOs, and social enterprises to raise funds for medical emergencies and other similar causes.
Docplexus
Docplexus Website
Docplexus is a platform for doctors where they can create their own communities and discuss problems with other doctors from all around the world. Founded by Phanish Chandra, an IITian, Docplexus has more than 2,75,000 Doctors as its members. It is a free platform; however, one needs to be a licensed doctor to create an account on DocPlexus.
Mera Medicare
MeraMedicare Website
Founded by Pankaj Gupta, MeraMedicare is a healthcare startup. MeraMedicare provides home delivery of medicines in 2 to 12 hours with a 15% discount on almost all medicines. It is a reliable and hassle-free option for ordering medicines.
3Hcare
3Hcare Website
3Hcare is a Delhi-based healthcare startup. It is an online marketplace for healthcare services. 3Hcare provides detailed information on healthcare services across India. Users can simply log on to 3Hcare’s website and find out about diagnostic centers and hospitals as per their requirements. The name “3Hcare” stands for “Help, Health, and Happiness” and signifies the startup’s vision to help people maintain their health and happiness.
Ekincare
Ekincare Website
Ekincare is one of the most innovative health-tech startups in India. Ekincare provides people with the facility to save their medical documents and access those documents anytime from anywhere. Ekincare keeps your data secure and also lets you understand your medical data in a simplified manner through graphical charts and visuals.
Practo
Practo Website
Practo is one of the world’s leading healthcare platforms and an independent medical website that focuses on patients connects millions of patients with healthcare providers and doctors around the world and helps people make better healthcare decisions.
Practo helps its consumers manage healthcare requirements such as searching for healthcare experts, booking an appointment with doctors, online doctor consultation, getting their tests done, and ordering medicines online. Practo is a patient-focused medical website and has over 1 lac doctor profiles from all over India and Singapore. Practo is a free service for the patients and the doctors.
Practo also provides its users with a diagnostics search feature on its web-based platform through high-quality photographs and filter options. It lets users manage their reports and medical data using the app.
Practo is a Bangalore-based health-tech startup launched in 2008. Practo was founded by Shashank ND and Abhinav Lal. They built the software platform to digitize their health records and facilitate online consultations.
PharmEasy
PharmEasy Website
One of the top healthcare startups in India, PharmEasy is a Mumbai-based pharma platform founded by Dharmil Sheth in 2015 .PharmEasy is led by Bessemer Venture Partners and Orios Venture Partners. It is one of the most successful healthcare startups in India. PharmEasy is currently operating in seven cities—Delhi, Mumbai, Bengaluru, Kolkata, Pune, Jaipur and Ahmedabad—and has over 150 partner vendors.
It was launched with a vision to deliver medicines at affordable rates by optimizing supply chain and logistics. PharmEasy now serves more than 100,000 families. The PharmEasy app lets users place orders with just three clicks and re-ordering can be done in one click. It plans to build an ecosystem using technology to connect patients, pharmacies, doctors, diagnostic centers, and healthcare service providers so that each can interact with the other hassle-free. PharmEasy also connects pharmacies spread across the cities, towns, and villages of India.
AddressHealth
AddressHealth Website
AddressHealth was founded by Anand Lakshman in 2010 to ensure that every child attains a state of positive health. AddressHealth is India’s first one-stop-shop for pediatric primary healthcare services.
AddressHealth presently operates three clinics in Bangalore and provides comprehensive pediatric healthcare through clinics and schools for children and adults. AddressHealth has partnered with the government in the MR Vaccine program. AddressHealth reached out to 300,000 students through schools till 2017. It received funding of $1.5 million in series A from Grey Matters Capital and Unitus Seed Fund.
Consure Medical is a Delhi-based company founded by Nishith Chasmawala and Amit Sharma in 2012. It is an emerging medical device company that focuses on developing and commercializing novel critical care technologies for 80% of the global population that does not have access to subsidized healthcare. Consure Medical delivers fecal incontinence therapy devices.
Consure Medical delivers a solution for fecal containment to assist bedridden patients. Qora is an applicator inserted into the anal cavity to provide a pathway for stool diversion with very little leakage. It offers Qora stool management kit which contains an indwelling fecal drainage device for the management of fecal incontinence and can be used across a continuum of care facilities, from ICUs to nursing homes. The company is also operational in San Francisco, California.
DocTalk
Doctalk Website
DocTalk is a Mumbai-based healthcare software application to store medical reports and prescriptions and share the same with your doctor. It was founded by Akshat Goenka and Vamsee Chamakura in 2016. DocTalk provides an AI-based virtual assistant application to simplify the healthcare ecosystem of India.
It allows patients to safely save all their medical reports and files on the cloud which can then be accessed from anywhere digitally.
HealthKart
Healthkart Website
Healthkart is a Gurgaon-based company founded in 2011 and offers various fitness products and services to help consumers achieve their fitness goals through its e-health store. It is one of the biggest medical e-stores in India. Healthkart offers various healthcare products such as nutrition supplements, diabetes supplies, home medical devices, and baby care products. These products can be ordered online and are delivered by HealthKart personnel to ensure safety. The healthcare platform was initially launched as a website and a mobile app that would function as a generic drug search portal. It has now become a marketplace for customers to search and purchase much more than just prescribed drugs.
Approximately 80-90% of the supplements sold in India are imported from developed countries like the US and Europe. Heavy customs duty on supplements attracts large amounts of parallel or unethical imports. Given these products have been illegally imported into the country, sourcing information is not available and thus quality becomes a question. HealthKart provides 100% authentic products to its customers by maintaining:
Tight control over the supply chain.
Quality control during distribution.
14 days hassle-free return policy.
The company has also launched FitUp which is an app for health and fitness supplements. It offers free assistance and nutrition counselling.
BeatO
BeatO Website
Founded for diabetes patients, BeatO provides a convenient and smart device to measure blood sugar levels. You can use them with your smartphone by putting it in the headphone jack and using the strip to measure your blood sugar level. After you measure your blood sugar, it offers you suggestions and shares the results with BeatO’s experts if medical intervention is needed.
Niramai
Niramai Website
Founded in 2016, Niramai wants to minimize fatalities attributed to breast cancer. Breast cancer, which most females take for granted in the initial stages, is one of the most common forms of cancer among women. To make it easier to detect breast cancer at an early stage and that too at a lower cost, Niramai uses thermal analytics and artificial intelligence. The technology is mobile; therefore, offering ease of access and usage.
CrelioHealth (formerly LiveHealth)
CrelioHealth Website
Founded by Abhimanyu Bhosle and Mukund Malani in 2013, Live Health makes it easy for healthcare providers to provide their services. Live Health makes the process for labs easier as they can access the information and reports of their patient online. Live Health also helps clinics and labs with operations, marketing, administration, etc. Through Live Health, labs and clinics can focus on their internal processes and the patients instead of worrying about business factors.
Lybrate
Lybrate Website
Available in 4 cities, Lybrate helps find the perfect doctor near you. Many times, a doctor’s visit isn’t out of necessity but for one’s satisfaction. To save your time as well as of the doctor’s, you can consult the doctor on Lybrate. There are more than 1,50,000 professionals who will help you with Lybrate.
Criador Design Labs
Criador Design Labs Website
Criador Design Labs was founded by Abhishek Reddy and Hitesh Devara in 2017. Criador Design Labs is a product design firm that develops new, innovative hardware technology products for consumer healthcare sectors.
The latest product by Criador Labs is EVE Health, a smart water bottle designed to improve medication adherence amongst patients with chronic diseases. It helps patients to stay aware of their dosages and reminds them when it’s time to take their medication. The bottle holds a patent-pending technology with sensors tracking medication intake and a Wi-Fi chipset sending live data to the servers. The data is analyzed and custom notifications and reports are sent to caretakers, hospitals, and insurance companies for taking appropriate actions.
Green Cure Wellness
Green Cure Wellness Website
Green Cure Wellness is one of the leading health startups in India founded by Sanchit Garg in 2015. Green Cure Wellness manufactures herbal personal care and health care products of international quality. It has a team of scientists in Germany who develop high-quality formulations adherent to the European norms.
Germany is the world’s leading technology hub for herbal and natural products. Green Cure leverages the age-old wisdom of Ayurveda coupled with German expertise to manufacture products that are free from side effects.
Health is imperative for success in all aspects of life. The concept of startups is trending today and trends tend to change the world. So healthcare startups, without any doubt, are a significant game-changer.
FAQs
How many healthcare startups are there in India?
There are nearly 5,295 health tech startups in India.
What are health tech startups?
Health tech startups are startups that have an online platform to provide healthcare solutions such as healthcare products, medicines and diagnostic tests.
The era of the pandemic has changed the entire global market. Some businesses saw the depth of losses and others thrived to the sky.
Many startups had to shut down due to the problem around the pandemic. On the other hand, various startups emerged in the market and ruled over it.
In Africa, many startups dealt with the unfortunate effects of the pandemic. They not only survived but also flourished well.
Like any other, African startups also had a roller-coaster ride. Many had to make changes in their business models. Others’ however, turned out to be more successful than they could have ever imagined.
The African marketplace has seen significant growth as more tech startups are emerging. These startups play an important role in various ways. They promote innovative thinking and its wide application on the continent.
These technology-based startups help Africa face various challenges. These include critical solutions for businesses and government, promoting e-health, e-education sector, and wide market access. The most important thing is that tech startups are helping Africa with its growth.
New startups and existing organizations are collaborating to increase their reach. This helps them create a bigger impact of innovation over the continent.
African economies have accelerated great progress with the emerge of various tech startups.
Top Startups in Africa
When it comes to startups, Africa also holds a great name in the market. Africa has various startups full of innovations, technologies, and critical solutions. The following are some of the top startups in Africa:
mPharma
mPharma Logo | Top Startups in Africa
It is a healthcare startup founded in the year in 2013. Founders are Gregory Rockson, Daniel Shoukimas, and James Finucane. It offers solutions to pharmaceuticals and health insurance companies. The main motive is to enable the patients to afford their medications.
The startup has its headquarters in Ghana. mPharma has grown and expanded in various others places. Apart from Ghana, it has a strong presence in Kenya, Nigeria, Zambia, and more.
mPharma helps in managing the drug inventory prescriptions for both suppliers and pharmacies. With the increased need for medications and health insurance, the startup has seen great growth during the pandemic.
Eversend
Eversend Logo | Top Startups in Africa
The multi-currency startup was founded in the year 2017. The founders are Stone Atwine, Ronald Kasendwa, and Emma Smith. This e-wallet startup offers financial services. For example- currency exchange, merchant payments, and more.
With the rise in technology, online investments have become a popular choice for people. The fintech startup, Eversend from Uganda deals in mobile payments, cryptocurrencies, financial exchanges, and more.
It gives access to various stocks to the people of Africa. Eversend is one of the best fintech startups in Africa. It is a startup to look out for in the coming years.
Ordera
Ordera Logo | Top Startups in Africa
The pandemic gave a boost to the food delivery services. Ordera, the food delivery startup launched in the year 2019. The founders are Abeer Mostafa, Karim Abdel Qader, and Noha Bassiouny.
It is a platform that provides contactless drive-throughs and many pick-up options. The African startup enables the customers to order and pay in advance for a pick-up to ensure contactless delivery.
Amitruck
Amitruck Logo | Top Startups in Africa
The rapid growth of e-commerce demands proper logistics support as well. So, here comes Amitruck, the trucking logistics startup. The African startup got launched in the year 2018. The founders are Mark Mwangi and Timothy Mwangi.
Kenya’s Amitruck came into existence intending to solve the disruptions caused by an uncertain network of road transport. It helps to create a direct link between the cargo owners and the carriers.
The startup began in Kenya and with great success, it plans to expand its services. The company’s P2P(Purchase-to-Pay) business model has enabled it to create a big name in the African logistics marketplace.
Sokowatch
Sokowatch Logo | Top Startups in Africa
Another startup that is a great success in Africa is Sokowatch. It was founded in the year 2013 by Daniel Yu, David Jaress, and Josh Raine. It has its headquarters in Nairobi, Kenya. It is an e-commerce platform that enables a direct link for the merchants to the local and multinational suppliers.
In simple words, it helps the small shop to get connected with the digital economy. By doing so, the startup has revolutionized access to essential goods and services. It enables digital orders, payments, and logistics.
The startup is so popular that it has been referred to as the ‘Tajir of Africa’. This means trader of Africa.
Komaza
Komaza Logo | Top Startups in Africa
Komaza is a tech-based startup that has revolutionized the wood industry in Africa. The company’s idea is to promote sustainable forestry. The startup based in Kenya was founded in the year 2006 by Tevis Howard.
The company has planted more than 6 million trees over the years with the bits of help of small farmers. This helps the small farmers to get empowered and the environment more breathable. Along with these good deeds, the company gets to enjoy profits.
With adequate funding and farmers’ support, Komaza aims to plant over 1 billion trees by the year 2030.
During the pandemic, like others, Africa also saw an advent of digitalization. Everything shifting from offline to online mode allowed tech startups to flourish.
In Africa, the pandemic gave a boost to the growth of tech startups. These startups helped the economy to deal with the existing problems. They also helped the economy to keep up with the pace of changing times.
Startups are emerging with the technologies of AI, blockchain, data analytics, and more. The pandemic made businesses realize the importance of technologies in various fields.
The African tech startups thus can create their market now. The technology has always been there but it flourished in its full sense during the pandemic.
Conclusion
The pandemic has been a time of revolution for startups. Many saw deep falls and others got to touch the sky. African marketplace saw a great amount of success of many startups.
Many startups in Africa are now capable of finding a solution to every problem. For finances, there is Eversend, Ordera for food services, Amitruck for logistics, mPharma for healthcare, and more. Thus, the startups in Africa have made great progress in their successful transformations.
FAQs
How many fintech startups are there in Africa?
As of 2021, there are 576 fintech startups in Africa.
What are the best startups in the world?
Top startups in the world, valued at more than $10 Billion are:
Bytedance
Spacex
Stripe
Klarna
Faire
Which country has the highest no. of startups in Africa?
Nigeria has the highest number of startups in Africa.
Which is the best country in Africa to start a business?
Mauritius is the best country in Africa to start a business, followed by Rwanda and Morocco.
Cheap Beer, amazing beaches and astonishing nightlife, you just can’t dislike this place. But let me amuse you with more reasons which totally justifies the statement “Work hard and Play Hard”. Although, we would share the story of some successful entrepreneurs of Goa who are running their startup successfully. Quietly lurking in the shadows are the Goan entrepreneurs sprouting out their startups in Goa.
They are purely justifying the statement of The Economic Times, “Goa has become a hotbed for startup activity and talent”. Moreover, the icing on the cake is its Startup policies which have been brought forward by the Government of Goa. The policy forecasts this small state should be among the top 25 Destinations in Asia by the year 2025. It also says that it would be a hub for at least 100 successful start-ups and counting entrepreneurs sprouting out of the state.
The state is believed to have the perfect ‘Work-life balance’. Also, fast enhancing technological as well as infrastructural changes to cater to the needs of an entrepreneur. The future forecast of the startup environment in the state does look appealing and there is an obvious change in trends over time. However, with a supportive startup ecosystem and guidance from Goa Chambers of Commerce, Goa Entrepreneurs Mentoring Services, 91Springboard and a lot of others, the state has produced some of the hottest startups by emerging entrepreneurs in the country.
This is our list of Successful Startups in Goa. Please let us know if you know about any other one.
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Foodel is ideal for those who crave delicious food but are too lazy to get out of their comfortable beds. Derived from the name ‘Food’ and ‘Delivery’, “Foodel Goa” is a food ordering and delivery company based out of the state of Goa. Foodel was founded by Anand Tarcar and Surendra Prajapati.
The startup focuses on quality food delivery with keeping the taste of its customers in mind. The company also focuses on a home cook and bakers service wherein the customer can get a taste of homemade local food. Like Swiggy this startup follows no minimum or maximum order policies on their deliveries. According to their founders, the Goa market is completely ‘untapped’ giving them a chance to grow rapidly.
Altera Advisory
Directors: Praveer Kumar Kullu and Ameya Ashok Kamat Year Founded: 2017 Industry: Financial Services
Altera – Startups in Goa
Altera Advisory is a financial services company. Altera Advisory provides their clients with the Altera provides end to end financial solutions and services including tax consultancy for its clients. It is a lifelong financial partner which caters all financial needs of clients like advisory execution.
The three pillars of its offering are technology, service and advisory. They make sure the whole process in convenient, Apart from the strong advisory and processes and all the technological tools that help client invest right from their smartphone, they also have access to every financial product under one roof.
Goamiles
Director: Sachin Bhavsar Year Founded: 2018 Industry: Taxi Services
Goamiles – startups in Goa
Goa was one of the few states in the country and probably the biggest tourist destinations to lack the services of Ola and Uber. As peculiar it sounds, sometimes the fare of traveling from one city to another city is just a few hundred short of the cheapest flights from Goa.
Government of Goa have recently launched its own app-based taxi service called Goamiles. Along with the state government, the app also has the backing of the Goa Tourism Board. The app comes in the form of ultimate savior for tourists from very expensive local taxi services. This initiative takes another step for being an entrepreneur.
Coppercodes
Founder: Chinmay Kamat & Rohan Naik Year Founded: 2017 Industry: Web Development
Coppercodes – Startups in Goa
Coppercodes is one of the newest startups and one of IT companies in Goa which have sprouted out of the state. Both the Co-Founders Chinmay Kamat, Rohan Naik aging at just 22, are the youngest successful entrepreneurs in the list of entrepreneurs of Goa. This in turns shows the young talent that is budding out of the small state.
The startups offer customized, tailor-made software, Mobile apps, Digital Marketing and Web Development. Visualizing the Goa market as a huge potential market and see the IT Industry as the need of the hour. The future forecasts of the company indicates the company heading towards successful technology solutions.
IBPS Consulting
Founder: Tamal Raha Year Founded: 2017 Industry: Biopharma & Pharmaceutical Sector
IBPS Consulting – Startups in Goa
Integrated Biopharma and Pharma Solution (IBPS) is a scientific and technical consulting firm specializing in CMC, Non-Clinical and Clinical development, Regulatory and Quality assurance services for Biopharma and Pharmaceutical sector. IBPS specializes in Biologics/Biosimilars, Vaccines, Generics, Differentiated Products and Medical Devices and provides full length of consulting service covering all stages of the product development.
It caters to many therapeutic areas including Oncology, Anti-Inflammatory, Cardiovascular, Endocrinology, Gastroenterology, Medical Devices, Neurology, Women’s health and Vaccines. Besides India, IBPS is working with clients in the US, Central and Eastern Europe, China, Latin America, MENA region.
Rainbow Solar Power Solutions & Automation
Founder: D. R. Nayak Year Founded: 2013 Industry: Solar Power Solutions
Rainbow Solar Power Solutions & Automations- Startups in Goa
Rainbow Solar Power Solutions & Automations offers concept-to-completion services for Grid-connected, off-grid with batteries Hybrid system and solar pump systems using solar PV technology. Additionally ,it offers the best and the most economically viable comprehensive solutions for Automation needs to help save on electricity usage.
Rainbow Solar Power Solutions & Automation has a strategic alliance with several OEM companies and component supplier for solar PV systems & for Automation. It is the Authorised Channel Partners with BuildTrack leader in Smart Automation and Internet of Things (IoT) solutions for Homes, Enterprises, Hotels, Hospitals, Senior Living and Warehouses.
Vacations Labs
Founder: Saurabh Nanda Year Founded: 2012 Industry: Travel & Tourism
Vacations labs – Startups in Goa
Vacation labs, a startup in the travel and tourismsector which helps tour agencies their itineraries online quickly and hassle-free. It is a no brainer that Goa being on the pinnacle of tourism Industry in the country is the ideal target market for the startup. Founded by IIT alumni Saurabh Nanda who has a bucket load of experience of working with online travel portals such as Cleartrip.
Mobobeat
Founder: Tyrone D’Souza Year Founded: 2008 Industry: Mobile Performance Network
Mohobeat – Startups in Goa
Mobobeat is a mobile performance network that works with top app developers and agencies helping them promote their apps globally. The founder of the company is Tyrone D’Souza. D’Souzas has an experience of four years with InMobi across different roles including Ad operating and leading the account management team. The startup would be beneficial to all the upcoming entrepreneur to escalate their products and services to their target audiences.
HandyTrain
Founder: Gourav Jaiswal Year Founded: 2015 Industry: SaaS
Handytrain – Startups in Goa
Handytrain is a Software-as-a-Service (SaaS) Platform. It helps SMEs and corporate better train their employees by leveraging their smartphones as a preliminary or primary training tool. The startup aims to improve the understanding and retention of employee training modules. The startup had raised $2 Million in funding from multiple angel and institutional investors to enhance their service.
Browntape Technologies
Founder: Piyush Goel, Gurpreet Singh Year Founded: 2012 Industry: Internet Software
Browntape – Startup in Goa
Browntape is a cloud-based software that helps online merchants manage their orders and inventory in one place without the need to log in to each site separately. Browntape’s End-to-End Ecommerce Management service allows brands and manufacturers to focus on their product selection and smoothening the supply while we take care of their entire online e-com handling and growth. It has worked with brands which include Lego, Raymond, Future Group, Arvind Brands, Timex, Prestige, Urban Ladder, Zivame and many more.
Seynse
Founder: Gourav Jaiswal Year Founded: 2015 Industry: Fintech
Seynse – Startup in Goa
Seynse is a Fintech startup. They have created the Loan Singh platform. Seynse’s digital lending platform, Loan Singh provides consumer access to loans through its proprietary credit scoring engine. It has a network of over a dozen partner alliances, banking institutions, and individual lenders. The Company has been funded by a lot of Angel Investors. In 2017 Telecom Major, Bharti Airtel acquired a strategic stake in the startup, the value which still remains disclosed.
TempoGo is an Internet of Things (IoT) and Software-as-a-Service (SaaS) solutions provider for the Transportation Industry. However, it has successfully managed to raise $500K from Javelin Startup-O Victory Fund. They later received a funding of 825k from K2 Capital Group, which makes a total of $1.3 million funding.
Letcetra Agritech
Founder: Ajay Naik, Bhaskar Rao & Dr. Aftab Alam Year Founded: 2016 Industry: Agriculture
Letcetra Agritech – Startup in Goa
This may look a little odd for the state of the party, but health is equally important for everyone. Letcetra Agritech is a startup which is working on to advance the technology in the farming sector. They provide pure food to everyone at an affordable price. The co-founder, Ajay Naik sold his software company to a British company. He later founded Letcetra Agritech. Letcetra Agritech is a product of 3 agriculture passionate people and their knowledge in different sectors.
Minkspay
Founder: Sanket Shendure Year Founded: 2016 Industry: B2B Payment Solution
Minkspay – Startup in Goa
With a B2B model, this startup provides a better and easy way to the retailers to recharge cutomers’ mobiles networks. It also helps them to transfer money. India has a very broad retail market. So, providing all the retailers of the country an easier way to do their work really helps them all. So, we cannot say that Goa is only encouraging the party culture.
Eeztail
Founder: Simon Fernandes Year Founded: 2015 Industry: Digital Marketing
EezTail – Startups in Goa
Young creative minds formed Eeztail to help sellers sell their products on India’s leading e-commerce marketplaces. Eeztail specialises in Social Media Marketing to get your business recognised online. Eeztail provides social media marketing, search engine optimization & marketing.
Goa is all about party. People come to this place only to enjoy parties with friends. But what if you go there and couldn’t find any party at all? Party Hunt comes in handy in these situations. Party Hunt is an app which lets you find the best party around you and according to your need. You can find a party with Bollywood songs, English songs, specific food or drink type, etc. You can even create your own party on the app. However, the service is available only in Goa yet.
Founder: Luke Sequeira Founding Year: 2013 Industry: Web Development
DCCEPER – Startups in Goa
DCCEPER is another tech startup which found it’s grassroots in Goa. Founded by Luke Sequeira who considers himself purely Goan entrepreneur even though completing his masters in Canada. DCCEPER aims at working with entrepreneurs around the globe to help them with their quest for building scalable web and mobile apps. The company has already established its branches across the globe having offices in London and Toronto.
Zooter is an online marketplace which caters the sports needs for youngsters. This startup is founded by Kavita Naik and Aditya Chintawar. The company focuses on organizing the sports industry of our country one sport at a time. They provide digitalised ways to schools, clubs, coaching academics to manage themselves in a unique hassle-free way. Their vision is to give sportspersons the power to share, connect, learn and bring everybody associated with the sport under one roof.
Spark+ Technologies is one of software companies in Goa. Spark+ Technologies is an incubation and innovation hub that leverages its deep industry expertise to help people at hometown and serve customers locally & globally to meet their innovation needs. Spark+ Technologies services include Blockchain, Web Development, SEO And Digital Marketing, Desktop App Development, UI/UX Auditing and Designing and Data Engineering. They have other community projects such as Sparklottery & Startx: company inhouse projects in Blockchain, Digital Baila which is to empower women of Goa and other is Goa Home Services.
Brittle.design
Founder: Sid Founding Year: 2016 Industry: Design Studio
brittle.design – Startups in Goa
Brittle.design is a blend of modern design, classic materials and 3D Printing. 3D printing done at brittle.design is restricted to PLA (poly-lactic acid), a biodegradable plastic derived from renewable resources such as corn starch and sugarcane.
So, this was a list of companies in Goa. Likewise, Goa is evolving in the startup ecosystem in the same way as Shimla,Lucknow and other cities of India are showcasing their entrepreneurial skill set and hustling all the way round to lead young energetic future entrepreneurs.
FAQs
What is Goa Startup scheme?
Goa Startup Policy 2017 is an initiative by government of Goa to make Goa one of the most preferred start-up destination accross India and provide assistance to the entrepreneurs of Goa.
What are the top Startup business in Goa?
Some of the most profitable business to start in Goa are:
Photography
Travel agency
Restaurants
beach shack
Fish farming
Rental agency
Guest houses
Spa and wellness
Commercial transportation
What is the main source of income in Goa?
The economic growth of Goa is driven by these industrial sectors:
India has a humongous food industry, the sixth largest in the world. Retail startups account for about 70% of the total sales in this segment. According to reports, the food and retail market will be worth $ 828.92 billion by 2020. The food-tech industry is growing rapidly with the emergence and development of verticals like food and grocery delivery, personal chefs, box delivery, and on-demand meals; these are becoming popular day by day. There is a confluence of many successful foodtech-based startups currently operational in India along with several upcoming and promising ones. In this post, we have listed some of the most successful food-tech startups in India.
Zomato | Food Delivery App | Food Chain Startups in India
Zomato is a Gurgaon-based online and mobile app platform for restaurant discovery, ordering, pick-up, and table booking. Zomato was founded by Deepinder Goyal and Pankaj Chaddah in 2008. It is an Indian restaurant- search and discovery service that lets you search from over a million restaurants across the globe and currently operates in 24 countries. The app and website also provide information and reviews of restaurants while allowing users to upload images of the menu items they order as well as the outlet’s pictures.
Zomato also launched a white-label platform where restaurants can create their own apps with customized features and integrate with Zomato’s ‘order and analytical’ support. It also did surprisingly well during the pandemic. The startup has raised a funding of about $673 million from investors such as Glade Brook Capital, Ant Financial, and VY Capital among others.
Location
Gurgaon
Total Funding
$673 Mn
Investors
Sequoia Capital, Temasek Holdings, Glade Brook Capital Partners, Shunwei Capital, Vy Capital, Info Edge, Delivery Hero, Neeraj Arora, Ant Financial, Alipay Singapore, Saturn Shine
Swiggy
Founders: Sriharsha Majety, Nandan Reddy, and Rahul Jaimini
Founded in: 2014
Swiggy | Food Delivery App | Food Chain Startups in India
Swiggy is a Bangalore-based food ordering and delivery venture that provides food services solutions for restaurants.Swiggy was founded by the trio of Sriharsha Majety, Nandan Reddy, and Rahul Jaimini in 2014. Vishal Bhatia is the CEO of Swiggy. They are known to deliver food and desserts from restaurants to its customers in under 40 minutes. The company’s smartphone-equipped delivery personnel provide deliveries to customers through an app that runs on routing algorithms. Customers can also track their orders in real-time. When Swiggy began, it offered free deliveries. Today, Swiggy charges its customers Rs. 30 (average) for a delivery but also provides free delivery on huge orders.
Swiggy currently has more than 5000 employees and operates in eight Indian cities; it has more than 9000 restaurants on its platform. The startup has raised a funding of $1.47 billion from investors such as Naspers, DST Global, and Tencent among others. It aims to stand out by offering a curated list of restaurants and services and has an in-house delivery fleet to pick up orders from restaurants for delivery.
FreshMenu | Food Delivery App | Food Startups in India
FreshMenu is a Bangalore-based restaurantthat works on the concept of cloud kitchen and a go-to for neighborhood food delivery.Itoffers freshly prepared food from cuisines such as oriental, continental, Italian, Mughlai and others. The startup offers a menuthat changes daily and delivers freshly prepared meals at the customer’s doorstep in just 45 minutes. It operates through kitchens spread across the city and owns a delivery fleet.
FreshMenu’s meals are crafted with the finest ingredients comprising farm fresh vegetables, fresh dairy, and meat products. It serves about 12000 orders on a daily basis and its average ticket size is INR 320. The startup was founded by Rashmi Daga who is also the CEO of FreshMenu. The startup has raised $24 million in funds from investors such as Lightspeed Venture Partners and GrowthStory Investments.
Faasos | Food Delivery App | Food Startups in India
Faasos Food Services Pvt. Ltd. is a Pune-based “food on demand” startup. Faasos was founded by Jaydeep Barman and Kallol Banerjee in 2011. It is an online food ordering platform that currently operates in 16 Indian cities and takes customer orders on its mobile app and website. Faasos has an operational model wherein it aggregates different restaurant chains and individual restaurants to deliver a large variety of dishes. It has succeeded in striking a balance between scalability and sustainability.
Faasos services around 18000 orders on a daily basis. The company owns brands like Behrouz Biriyani, Ovenstory, and Kettle & Eggs. It has raised a funding of $80 million from names like Alteria Capital, Sistema Asia Capital, Evolvence India, etc.
Location
Pune
Total Funding
$75 Mn
Investors
Temasek, Goldman Sachs, Falcon Edge and Canadian Pension Plan Investment Board, Lightbox Ventures II, Lightbox Expansion Fund, Sequoia Capital India, ru-Net South Asia, and RB Investments
Box8 | Type: Restaurant Chain | Food Startups in Mumbai
Box8 is a Mumbai-basedIndian quick service restaurant chain. Box8 provides users an online platform to browse through various product menus and place order(s) for home delivery. The app is available on iOS and Android platforms.
The startup has raised $12 million which it utilizes to build technology, expand the team, deepen market penetration, and build a seamless customer experience across its mobile and website platforms. It currently operates in Mumbai, Pune, Bangalore, & Gurgaon. The investor list includes names like Trifecta Capital, Mayfield, IIFL Wealth Management,Seed Venture Fund, and 42 others.
HungerBox | Type: Food Business Solution | Food Startups in India
HungerBox is a B2B food-tech startup founded by Sandipan Mitra in 2007. The startup is a full-stack B2B and F&B (food and beverage) technology venture and delivers food solutions for corporate clients. It currently serves over 100 clients across India and continues to delight them every day with its services.
HungerBox is revolutionizing office food and cafeteria management with the help of the best caterers in the city and through the best in class technology, infrastructure, and robust operational processes without compromising on food quality and food safety. The startup aims to enhance the productivity of food companies (restaurants, delivery startups, etc.) by providing them a technology-based system so that the focus is only on food.
Location
Bangalore
Total Funding
$7 Mn
Investors
Neoplux, Sabre Partners, Kris Gopalakrishnan, LionRock Capital
Curefit | Healthy Food Startup | Food Startup in India
Cure.fit is based out of Bangalore and was founded in 2016 by Mukesh Bansal. Mukesh is also the co-founder of Myntra. Cure.fit is an Indianhealth and fitness venture that offers digital and offline experiences across fitness, nutrition, and mental well-being. It wants to make fitness fun and easy. Cure.fit focuses on preventive healthcare space and enables users to proactively manage their health through various offerings.
Cure.fit provides fresh and tailor-made salads under the brand Eat.fit. It also home delivers fresh and homely food low in carb, high in protein, and includes lots of green vegetables. The focus is on healthy food spanning across Indian cuisine, fusion food, salads, and snacks. Cure.fit has raised $170 million from Kalaari Capital, Aceel Partners, and Oaktree Capital Management among others. Hrithik Roshan is Cure.fit’s brand ambassador.
Location
Bangalore
Founded
2016
Total Funding
$294.6 Mn
Investors
Accel Partners, IDG Ventures USA, Kalaari Capital, Accel, IDG Ventures, Unilever Ventures, Oaktree Capital Management, InnoVen Capital, Kotak Mahindra Bank, Chiratae Ventures, Epiq Capital, Pratithi Investment Trust, Anand Piramal Trust
Magicpin | Coupon Website | Food Startups in India
MagicPin is a coupons website. It provides rewards and cashback to diners. The company was founded in 2015 by Anshoo Sharma and Brij Bhushan. MagicPin has its presence in 16 Indian cities like Delhi, Hyderabad, Chennai, and Pune. With 1.4 million users, the platform drives Rs. 30 crores of monthly sales for partner food and beverage (F&B) chains that include KFC and Hard Rock Café. MagicPin is also exploring two other segments: groceries and beauty & wellness.
Diners can earn cashback if they dine in a restaurant partnered with MagicPin by uploading a photo of the bill along with a selfie with the dish. To increase user engagement, MagicPin uses data from check-ins, recommendations, and reviews in a live feed-style timeline interface. The platform also provides promotional service to restaurants for posting surveys and advertisements.
Location
Gurugram
Founded
2015
Total Funding
$30 Mn
Investors
Lightspeed Venture Partners, Vy Capital, Knollwood Investment Advisory, Google Launchpad Accelerator, Sequoia Capital India
Swadhika Foods | Food Processing Startups in India
Swadhika Foods is an Indian food processing startup headquartered in Chennai. It is a leading supplier and exporter of premium quality frozen IQF fruits and vegetables, and frozen ready to eat/cook foods. Swadhika Foods is accredited to APEDA, USFDA, FSSAI, ISO, BRC, and HACCP to ensure reliability and meeting international food safety standards. Swadhika Foods has a network with the best partners to ensure reliable source, produce, and product.
With people inclining towards better lifestyle, the food-tech industry is booming and evolving at the same time. In the next few years, one can expect drastic change and increase in the number of food-tech companies in India. Do comment if you know about any awesome food-tech startup in India that deserves to be on this list.
Frequently Asked Questions – FAQs
How do you start a food startup?
First and foremost you’ll need to make a solid business plan which will include doing a thourough research in the field! Find out everything you can about your competitors. Then you’ll need to ensure you have enough funds to start off with and sustain yourself for the first couple of months. If it a food tech business you’ll need to build an app or if its a restaurant then you’ll need to secure a location and furnish it. Next you’ll need to get all the licences and permits necessary. Hire a team or choose a logistics partner and get advertising your business! Good Luck!
What food can I make and sell from home?
Food that takes times to perish are the best options. You can make jams, sauces, tea mixes, Cake mixes, cookie mixes and alike will last longer so you will have less food wastage in the long run.
What are some famous food tech startups in India?
You cannot mention food tech startups in India without talking about Zomato and Swiggy. Some other ones are Faasos, Box8, Magicpin, HungerBox to name a few.
