Knowing your potential is not enough unless you act on it. You have always known you could be an entrepreneur but hesitated, doubted your capabilities?. Do not, because India has entered the age of free enterprise, private businesses if you have not already noticed.
World Bank has predicted 11+% GDP growth rate for India in Year 2021-22 far higher than any major world economy. Is it possible without the start-ups/entrepreneurial spirit? No, it is not. So why not dismiss your fears and be a part of India’s growth story.
Have you been dreaming to get into transport/cab business. This write-up covers everything you need to know.
Ola & UBER are two mega multi-national transportation companies of the world that though provide public transport but give the benefits & feel of a private transport to its commuters. That was the main motivation for people to choose their services and they succeeded in meeting their customers basic needs – Quick, cheap, ease & round-the-clock hassle free service that was.
The fundamental business model of these cab aggregators is simple. That is connecting commuters (customers) seeking on-demand cabs with the company’s driver-partners through a company owned mobile app.
The company earns its revenue by way of commission or fees levied on each ride hailed. (Both these taxi services can be booked through their respective websites too.). So in how many ways can one do business with UBER and Ola. In addition, what is the process from start to finish. Let us find out.
How to Start a Business with Uber?
There are three Ways to Earn With Uber Drive Business:
Driver cum owner
You have a car, are willing to attach it with Uber and you also drive your own car.
Commercial driver under partner
You do not own the car but wish to drive under the Uber platform. You get to drive a vehicle owned by an Uber non-driving partner.
Note: You can even choose to drive a commercial auto-rickshaw or motorbike/scooter if that service is available in your city.
Non-driving partner
You own the car, attach it with the Uber platform without self-driving any but have to manage at least one driver.
There you go. Choose any of the three depending upon your resources and earning needs.
Step-by-Step Process
Step 1. Sign up on the Uber platform through its website, by entering your basic details like name, phone no, email, city.
Step 2. If you choose first or third option from above, you’ll land up on this page
If you choose the second option, you’ll land up on this page
Step 3. Now set up your account as directed i.e. by submitting all of the above document files online. If you do not have them online, click a picture from your mobile or scan it using a cam-scanner app and upload. You can upload all the docs in the same manner. It is much easier & faster than submitting hard copies by queuing up in the office.
Step 4. To Activate your account, Bring your car to a local green light hub. These hubs are locations in a city where you must bring your car for inspection and other things. Requirements vary by city, so sign up to know.
Step 5. Once your account is set up, you can look up all the necessary information you need to know about doing business with Uber. You can even get help by contacting their phone support number.
You have a car that you want to attach with Ola platform. You also drive your own car.
Register yourself in less than a minute by entering your name, phone no. and your city. Ola team will get in touch with you within 24 hours. Additionally, be ready with these basic documents.
Benefits of this plan are:
Choose your own working hours
Choose from 100 cities to work in
Daily payments 365 days a year
Get a booking on your way home
24/7 helpline for support
Lease a Car
You know driving and need a car to drive. Ola provides you with a car without you having to worry about maintenance and insurance. Register yourself in less than a minute by entering your name, phone no. and your city. Ola team will get in touch with you within 24 hours.
Following documents are all you require to begin driving independently with Ola.
Other benefits you will derive with this plan:
Get a car at zero risk
Free accidental insurance of 2 lakhs
Zero maintenance cost
Drive a new car of your choice
Two paid holidays each month
24/7 helpline for your support
Note: If you are an auto driver, you can also attach your auto by submitting the documents, downloading the app and start to drive with Ola.
Become a fleet operator
You own a fleet of cars and you want to attach it with Ola. You just need to track & control your fleet through specialised app.
Register yourself in less than a minute by entering your name, phone no. and your city. Ola team will get in touch with you within 24 hours.
Following basic documents are required. These are also the exact same documents you will need under option one i.e. to become a ‘partner with a car’.
Benefits under this scheme:
Get detailed reports of total earnings
Monitor driver logins and other trip details
Live tracking of all your drivers and cars
Get alerts like payments, logouts, etc.
Check your fleet’s performance anytime
Receive 24/7 phone support
Sure you will have further queries like ‘registration charge, initial payment if any to lease a car or two drivers for a single car’ etc. For this, you just have to visit the Ola Partner Portal.
Note: You can also attach your Rickshaw or Bike with Ola. To know more, visit the above web page & send your enquiry through a quick action tab.
Things to Consider Before Starting business with Ola or Uber
There is no definite answer but there is an answer definitely that can help you decide whether to do business with either/both of them or not. Here are two Factors to consider.
Profitability
You will surely get a ‘fare’ share of the rent but will you also get a ‘fair’ share? Is it profitable to attach car with Ola or Uber? To find an answer to this, you need to know the cost structure of both companies. Here’s the cost break-up if you rent a car:
According to the source site, you have to work 3-4 hours just to break even i.e. to earn enough to not make a loss. Therefore, in order to make any profit, you will need to work more than 3 hours a day.
And what if you attach your own car. You already have all the cost & pricing details, so just pick up a pen-paper and calculate your likely earnings, deducting all the costs.
This is a very crude analysis, which you can take as a starting point. However, it can certainly help you build a business/earning plan that suits your specific requirements.
Ease of operation & technological superiority
These two factors directly add to your job satisfaction. Consider each carefully. App features-wise & its daily payment feature make Ola look superior to Uber. Even though some may contest that Uber is cheaper in general.
However, according to user experiences, Ola & Uber fare differently in different cities. Hence, a ground study & research is the best approach before you decide to choose one of the two.
Conclusion
Both Ola & Uber have ambitious plans for the future. While Uber has a vision of becoming the top urban mobility platform, Ola is striving toward building mobility for a billion people. Whoa! Why dream small, right!
FAQs
Can I do business with Ola & Uber both?
Yes, you can do Cab business with both Ola and Uber.
Are there fixed work hours or timings for Cab drivers in Ola and Uber?
No, there is no fixed time or hours of business with either Ola or Uber. You can choose when & how much you want to work.
What are future service offerings of Ola & Uber?
For Uber few of the future business offerings could be electric scooters, bike-sharing & autonomous (driver-less) vehicles. Apart from its wide range of cab booking services, Ola plans to launch its own line of electric scooters via its ‘Ola electric mobility’ subsidiary.
Is putting the car in Ola profitable?
You can easily profit over Rs. 15,000 a month by giving car to Ola.
What percentage does Ola/uber take?
Both Ola and Uber take 25–40% of the amount as their commission.
You must have already heard about Ola Electric scooters, popularly dubbed as “A revolution on two wheels”? They are the reason for the popularity of #JoinTheRevolution.
Promising exceptional acceleration, remarkable handling, and strikingly large boot space, Ola’s electric vehicles can be charged anytime, anywhere and will eventually have the world’s largest and the most advanced factory in Tamil Nadu. They have certainly come up with revolutionary vehicles with an eye towards a sustainable future.
The Ola Electric scooters have already been available for pre-booking with a token sum of Rs 499 from July 15, 2020, and have witnessed more than 1 lakh registrations within the first couple of days. Words are going around that Ola will have these scooters home delivered for the people who will register for them online and the deliveries have also been started lately amidst the numerous roadblocks that the EV mobility makers had to face due to the global crunch of semiconductors.
With an aim to empower cleantech when it comes to transportation, Finance Minister Nirmala Sitharaman has revealed the plans of the Indian government to create special mobility zones for electric vehicles and the focus on implementing effective battery-swapping policy along with the formation of interoperability standards during the Union Budget speech 2022. Though the setting up of EV charging stations across the country is something that has been going rounds for months now, this new focus on battery-swapability is something new and interesting!
Though the luxury carmakers, the likes of Mercedes and Jaguar Land Rover have already been delivering their vehicles home for their customers for quite a while now, Ola will certainly be the first vehicle manufacturer in India to do so!
So, have you already booked the Ola scooters for yourselves? If not, then here are some alternatives that you can check out in case you are planning to buy electric scooters:
Ather 450X was launched in 2020 and has remained a best-seller in its category to date. And why not? The vehicle simply packs some of the best features of its kind.
The Ather electric scooter can be charged from 0-80% in around 3 hours 35 minutes and offers a driving range of 116 km when fully charged. The ex-showroom price of the vehicles starts from Rs 1,32,426 in Delhi.
Simple One
Simple Energy was incorporated in 2019 and is a Bengaluru-based electric startup company. Recently they have announced that they are about to launch their first electric scooter, Simple One, which will be released in August 2021.
These scooters will offer a driving range of 240kms in one 70 minutes charge. The ex-showroom price of these vehicles would likely be starting from Rs 1,10,000 and are deemed to be one of the prominent rivals of Ola Scooters.
TVS iQube
TVS Motor Company is one of the oldest, popular motorcycle manufacturing companies of India, which is currently the third-largest motorcycle company with a revenue of over Rs 20,000 crores in the last fiscal.
TVS has been in the league of electric scooters since 2008 when it first launched TVS Scooty Teenz. Its iQube is the second model in the same segment. Launched on January 25, 2020, iQube has become one of the best-selling electric scooters in Indian markets.
These scooters can achieve a 40 kmph speed within 4.2 seconds. Furthermore, they offer a maximum distance of 75 km in a single, full charge and are definitely a big, old rival for Ola’s e-scooter.
Founded as early as 1887 in Japan, Yamaha Motor Company is really one of the oldest motor companies in India that have built enormous trust with its quality products and services.
Yamaha has already seen a successful run with its scooter models and has announced the forthcoming launch, in June 2021, of its electric scooter in the Indian market. The motorcycle maker has also stated that it is currently being thorough with the Indian policies around electric vehicles before unveiling its electric bike.
Suzuki Burgman Electric
Suzuki Motorcycle India, an Indian subsidiary of Suzuki, Japan, is one of the Big Four motorcycle manufacturers from Japan along with Yamaha, Kawasaki, and Honda, and has already witnessed a successful venture with its scooters and motorcycles in India.
Given the latest hype surrounding electric scooters in India, Suzuki India is also planning to launch its first electric bike, Suzuki Burgman Electric, which is to hit the roads in December 2021 and is billed as a powerful alternative to Ola Electric.
The scooters will likely wield a top speed of 80kmph, and sport a driving range of around 125km. They might also have swappable/portable battery technology. Burgman’s petrol scooters are priced around Rs 1 lakh mark, and the electric offering might be starting from Rs 1.50 lakh, on-road.
Hero Gogoro
Hero Motorcorp, which was formerly known as Hero Honda, is the largest two-wheeler manufacturer in the world as well as in India. The Indian motorcycle manufacturing giant based in New Delhi, India, has already won the hearts of the Indians with their varied motorcycles for all kinds of customers and is now eyeing a similar success with its electric bike that is set to launch in 2022.
Hero has already partnered with EV behemoth, Gogoro, and is all set to set up charging infrastructures all over the country, then release their electric scooter. Coming quite late in the market Hero-Gogoro vehicles are deemed to have a good understanding of the market and will be foolproof against any odds!
As of July 2021, we can expect a price tag of Rs 1.3 lakh, until any further updates but it will surely be a challenger to all the electric vehicle manufacturers including Ola Electric.
Bajaj Auto Limited, a part of Bajaj Group, which was founded in the 1940s, had been quite popular with its two-wheelers and three-wheelers ever since its vehicles hit the road. Bajaj Chetak, the most popular scooter from the house of Bajaj, has already established a legacy, from 1972-2006, in the Indian scooter market.
Bajaj launched its Chetak Electric in January 2020, to recreate the magic. With a riding range of 90 km on a full charge, and promising a full charge of 100% within 5 hours, Chetak Electric is holding a strong position in the market as of now.
Conclusion
With a battleground ahead to make a place for themselves in the two-wheeler market of India, Ola Electric should surely prove its resilience to stay strong in the upcoming years. Nevertheless, the future for Indian two-wheelers is indeed in the safe hands of a bunch of trustworthy vehicle producers, who are not only racing for their own benefit but for the overall good of the country and the world with their eco-friendly vehicles.
FAQ
What is the price of Ola electric scooter in India?
The Ola electric scooter is priced around Rs 80,000 to Rs 1 lakh in India.
Which is best electric scooter in India?
Revolt RV400, TVS iQube Electric, Bajaj Chetak, and Ather 450X are some of the best electric scooters in India.
What is the range of Ola electric scooter?
The Ola electric scooters can achieve a range of 130-150 kilometers.
Ankit Bhati is the Co-founder and Chief Technology Officer (CTO) of Ola Cabs. He founded Ola with his companion Bhavish Aggarwal in 2010. He is also the Co-founder of ANI Technologies. Speculations arose that Ankit Bhati distanced himself from the ridesharing company last year owing to some serious conflicts between him and the founder of the company, Bhavish Aggarwal. Nonetheless, his contribution to the company is way more than such conjectures. So, let us know more about him in the article ahead.
Ankit Bhati was born in the year 1987 in Jodhpur, India. He currently resides in Bangalore, Karnataka, India. He is considered an introvert who spends his time coding while sitting in a corner. He likes to spend his spare time playing video games with his friends. Ankit Bhati is active on social media platforms including Twitter, Instagram, and Facebook.
During his academic career, he was not interested in extracurricular activities rather he was more interested in computers. Ankit used to spend most of his time at the computer center. Bhati was less of a guy who would hop to the basketball court in his leisure but more of one who would sit in front of a computer. Ankit also became the administrator in the computer center he mostly used to hang out. Along with diving deep into video games, Ankit also loved to build websites and worked on freelance projects to make money during his college days.
Apart from computers, he has a great interest in cycling and adventure trips that he took where he also tagged his friends along. The idea of building a trip website (Olatrips.com) was initially out of his interest in adventure trips.
“It always is about being able to simplify things,” says Ankit, which is what technology is credited with. Therefore, Bhati stayed confident with their idea of OLA cabs because that also was about simplifying the experience for the customers and the driver-partners.
Ankit Bhati – Education
In 2004, Ankit Bhati took admission to the Indian Institue of Technology, Bombay for a B.Tech in Mechanical Engineering. He knew that the only field where he can grow heights is computer programming and technology. He later got enrolled for M.Tech in CAD and automation and completed his Master’s in 2010. During his college days, he also worked on freelance projects in building websites to make money. After completing his higher studies in Mumbai, Ankit Bhati founded ANI Technologies in Bangalore, Karnataka. He is known to keep a low profile image as he is hardly seen on any event or product launches.
Ankit Bhati started working on several freelance projects in 2009. Bhati contributed to the growth of several startups like Wilcom, Make sense, QED42, and more. It was only in April 2021 that Bhati as a Venture Catalyst has funded a Noida-based Edtech startup – Qin1.
He was highly motivated to start his own company and give up on his authoritative professional life. He further moved on with Ola Cabs journey in November 2010.
Ankit Bhati is a computer programmer and contributed to the Ground Transportation industry. He has 6,231 colleagues in 633 companies situated in 59 countries. Moreover, 1,722 executive movements have been recorded in the last year.
Ankit Bhati, Co-founder and former CTO of OLA, has launched a new startup, as per reports dated January 7, 2022. The startup that goes by the name Amnic is designed to operate as a SaaS startup, co-founded by Nimish Joshi and Satya Nagarajan. Both of the co-founders were Ola executives and held the posts of VP and Head of Strategy and Business Development, and VP and Head of Software Engineering and AI respectively. Amnic will be reportedly operating in the DevOps toolchain space.
Ankit Bhati – Success Story
Ankit Bhati struggled in his old apartment near IIT Bombay, inspecting his intellect to code the Ola website. He vividly recalled those days when he used to save money from his pocket to visit a cyber cafe. He used to spend his time in chat rooms to discover the world of the internet.
When Ankit joined IIT Bombay, he spent most of his time at the computer center. Technology has changed a lot today and he thrives to deal with the challenges on daily basis. His 10 long years of experience has led him to encounter many technical glitches, though he manages to strive the team on. He eventually got to know the importance of data that helped him combat the technical glitches and driver partners for Ola.
Ankit Bhati is the co-founder of ANI Technologies. He founded the company with his college senior Bhavish Agarwal in 2010. ANI Technologies Private Limited is an online transportation company. It offers cab booking, riding, and renting services. Ola Cabs is the portal of ANI Technologies and it serves customers worldwide.
Ola was launched on 3 December 2010 by Bhavish Aggarwal and Ankit Bhati as the Founder and Co-founder of the ride-sharing company respectively. Initially, Ola was launched to offer holiday packages and weekend trips on Olatrips.com. The business merely changed to, what we today know as Ola Cabs.
Ankit Bhati was responsible to handle the technical facets of Ola Cabs to assure a swift, convenient and spontaneous experience for the customers and partners. Ankit Bhati had mentioned that his mornings in Ola used to start with understanding data. This ritualistically started every day with his gaining insights into the rides that OLA offered and which of them gained the most traction. Furthermore, he also looked into the needs of the customers, the ratings of the drivers, figuring out the quickest routes for drivers, calculating the time taken by drivers to reach a yonder point, whether a passenger would be willing to share rides, and for how long he would wait for the same and much more. Absorbed in all these complexities, Bhati decided to pave way for OLA.
Ola Cabs is one of the fastest-growing startups in India. The tech team of the company today holds over 1,000 people.
Ankit Bhati – Foodpanda Controversy
Ankit Bhati – Foodpanda Controversy
In 2017, Ola Cabs acquired food delivery start-up Foodpanda to rival Uber Eats. Some serious conflicts arose among Bhavish and Ankit when Ankit agreed to the contract of delivering food through Foodpanda via Ola Cabs. It has also been pointed out that Bhavish had issues regarding the food delivery matter through Ola Cabs.
Speculations arose again when Bhavish restricted Ankit inOla Electric. Ankit was only a small part of it through ANI Technologies. Ola Electric is Bhavish’s project to build a network of electric charging stations across the country. Bhavish bought 92.5 % of the Ola Electric. This is when Ankit decided to distance himself from the company. However, the distancing and the split of the OLA co-founders, as far as the rumor goes, are nothing but baseless rumors, as announced by Bhavish Aggarwal in his latest statement. The OLA co-founder said, “It’s a shame that baseless rumour-mongering and speculation is being fanned,” while denying the Moneycontrol report.
Ankit Bhati currently holds 7,62,385 shares in Ola’s India operations, which sums to around 25% stakes in the company. Furthermore, Bhati also holds 1,66,185 shares, which amounts to 6% stakes in the US operations of OLA.
Ankit Bhati – A Fresh Start with Amnic
While looking at the professional front, Ankit Bhati had last been associated with Ola Play. However, Ankit had taken what seemed like quite an exit from the day-to-day operations of the firm since the end of 2017. No official statements nor any notice was out on Ankit Bhati’s exiting the company and as we have mentioned Bhati still holds a considerable amount of shares.
Ankit Bhati simply took a break and it is now clear what he was doing in the meanwhile. Yes, we are talking about the new startup Amnic that Ankit Bhati co-founded along with two other Ola execs – Nimish Joshi and Satya Nagarajan. Amnic Technologies will be focusing on the Saas segment in DevOps toolchain space, goes the reports published on 8th January 2022. Furthermore, the report also mentioned that Amnic would be raising $15 Mn- $20 Mn from Sequoia Capital as part of its seed round. Zauba Corp already has this company listed since June 3, 2021, which is “involved in other computer-related activities”, such as maintenance of other company’s websites and creating multimedia presentations. However, confirmation is still pending from the alleged co-founders of Amnic. Their social profiles also refrain from mentioning any updates of the same.
FAQs
Who is Ankit Bhati?
Ankit Bhati is Co-founder at Ola since September 2010.
Where was Ankit Bhati born?
Ankit Bhati was born in 1987 in Jodhpur, a city in Rajasthan, India.
What is Ankit Bhati education?
Ankit Bhati has done B.Tech in Mechanical engineering and M.Tech in CAD & Automation from IIT, Bombay.
What is Ankit Bhati net worth?
Ankit Bhati has a net worth of around INR 1400 crores, when last reported in September 2019.
The development of superior technology has undoubtedly benefited the entire planet in many ways. Nowadays, it isn’t easy to find a field where technology hasn’t made an impact. Technology has made its mark, especially in online rental services and booking firms.
Online vehicle booking firms have made a huge move in the transportation industry in recent years, and more drivers are opting to lease rather than buy new cars as the sticker price of new vehicles continues to rise.
As more individuals opt for Ridesharing Services, the rising popularity of shared mobility is likely to lower worldwide automobile sales. However, car sales in emerging nations are expected to surpass the influence of shared transportation during the next 15 years.
Let’s take a look at India’s top 5 car-sharing, rental, and ride-hailing startups.
Here are some of the leading car ride-hailing startups in India.
Ola
Ola – Car Ride-Hailing Startups
Ola, which was started in Mumbai in December 2010, is one of India’s largest ride-hailing and sharing businesses, competing with Uber. Riders get access to free Wi-Fi when traveling with this transportation service. Ola provides taxis inside city limits, as well as outstation services and automobile rentals. They’ve also launched Ola Bikes, a bike taxi service in a few locations across India. Customers can also opt for auto-rickshaws, compact cars, sedans, prime, and premier SUVs as a mode of transportation.
Ola Cabs has almost 4,50,000 automobiles available for travel throughout India. Ola presently operates in 169 cities across India and has over 125 million registered users. The business just received $1.1 billion in a round funded by Tencent to bolster its fight against Uber in India.
This cab company started in India and has expanded its operations to Australia and New Zealand. The firm recently debuted auto-rickshaws in Liverpool, and it now operates in seven locations throughout the United Kingdom. Ola generated $360 million in income in 2020.
In January 2020, Japan-based Orix announced the beginning of their rental service to serve clients here with Tata Motors, responding to India’s growing demand for passenger automobiles fuelled by economic growth.
Tata Motors debuted its Nexon electric SUV in January, and now the company has devised a subscription scheme for it, allowing customers to rent it for a set monthly rate. In India, the notion of a car subscription model is still gaining traction, and Tata might utilize it to boost the potential for electric vehicles shortly.
This option is only accessible in five metro cities: Hyderabad, Mumbai, Delhi, Bengaluru, and Pune.
A user must pay a Rs 50,000 one-time refundable security deposit as well as a monthly membership charge that varies by city and tenure term. Orix will install a complimentary EV charger and wiring up to 15 meters at the customer’s location as part of the agreement. Wiring that is longer than 15 meters will be taxed at Rs 250 per meter. In 2020, it surpassed the 2000-unit level.
Zoomcar
Zoomcar – Car ride-hailing startup
In 2013, Zoomcar was founded by Greg Moran and David Back In Bangalore. Zoom is India’s first and only car rental company to provide a self-driving plug-in electric vehicle.
You may search for a car and upload your driver’s license using the app or website. A security deposit is also required.
The firm provides you with the car details by SMS 20 minutes before pickup, and you may unlock it using the app. You may collect the keys from the glove box and drive to your destination after completing a checklist on the app. Fuel is paid for, so you won’t be charged if you stop at a petrol station.
Zoomcar also offers a zero-pollution cycle rental service named Pedal.
The Mahindra Reva E2O is the newest addition to the Zoom fleet, and Zoom members may rent a car by the hour or by the day. The E2O can go up to 100 kilometers without recharging.
Mg Motors has teamed up with Orix and Zoomcar to sell a ZS EV on a subscription basis starting at Rs 49,999 per month in 2020. To your needs, You may lease the ZS EV for 12 to 36 months in Bengaluru, Pune, Mumbai, and Delhi. The automobile rental business has experienced tremendous development and now operates in 27 Indian cities.
Meru Cabs
Meru Cabs – Car ride-hailing startup
Meru Cabs was established in Mumbai in April 2007. In 2014, Google Now and Meru Cabs teamed together to give consumers real-time warnings.
You may book taxis using the Meru app by selecting the car type and destination. Before the cab arrives to pick you up, you may view the cab and its estimated arrival time. You’ll receive an e-bill after the ride, which you may pay with a card, cash, or the app.
Meru is a one-of-a-kind taxi service in that it does not charge spike pricing to its passengers. Instead, you and the driver may work out a price that works for both of you.
Due to their business strategy, over 12,000 drivers quit Ola and Uber in 2020 to join Meru Cabs, which generated $3.5 million in income.
Drivezy, an automobile rental platform similar to Zoomcar, was created in April 2015. The company is headquartered in Bangalore, Karnataka. You can self-drive to your location by renting a vehicle or riding a bike. Nagpur, Mumbai, Pune, Karnataka, Hyderabad, Manipal, Delhi, and more have Drivezy services.
If you are over 18, you may rent a vehicle or bike with variable pricing depending on the hour, day, or week. You can also choose between gasoline and filling your requirements. The greatest part is that no security deposit is required, and refunds and payments are processed instantly. The company’s fleet includes 15,000 bicycles and 4,000 automobiles.
SoftBank, the world’s largest technology investor, and Amazon, the world’s largest e-commerce company, have expressed interest in investing $100 million in the platform. Drivezy reached a monthly gross sales volume of $4 million in 2020. Yamaha acquired Drivezy for $45 million in 2021.
Conclusion
Car-hailing and rental services are facing a slow reduction in the gross book value of online mobility spaces, which has climbed to $2.9 billion in 2020. The automobile rental business is still dominated by Ola and Uber. The market, on the other hand, is changing toward fast-expanding bike taxis and other developing models like carpooling. These firms will have to immediately improve their game if they want to continue in the online mobility business.
FAQs
Which are the top Car ride-hailing startups in India?
Some of the top car ride-hailing startups in India are:
Ola
Orix
Zoomcar
Meru Cabs
Drivezy
Which cab service is best in India?
Some of the best cab service providers in India are:
Indians are fixated on the startup culture. People are choosing entrepreneurship over mundane, 9-to-5 jobs. However, not everyone succeeds as an entrepreneur. A survey revealed that approximately 11% of the Indians are engaged in ‘early-stage entrepreneurial activities’. And only 5% of these early-stage entrepreneurs actually went on to establish their startup.
But keeping these statistics aside, some Indian startups have gone on to dominate their target segments. This post is dedicated to some of the most successful entrepreneurs from India whose ventures have revolutionized the daily life of millions, if not billions, across the globe. The path to name and fame wasn’t easy for them; it involved several trials and tribulations.
Ritesh Agarwal founded OYO rooms in 2015. He was the recipient of the TiE – Lumis Entrepreneurial Excellence Award (2014), became the first Asian to win ’20 under 20’ Thiel Fellowship (2013), was named one of the top 50 entrepreneurs by TATA First Dot Awards (2013) and became the world’s youngest CEO at the age of 17. Ritesh Agarwal, an Orissa boy coming from a business-oriented family, went to Kota to become an engineer.
But unlike other JEE aspirants, his passion caught hold of him and he did not take JEE preparation seriously. Instead, he wrote a book called ‘Indian Engineering Colleges: A Complete Encyclopedia of Top 100 Colleges’; the book became immensely popular on Flipkart.
He was just 16 when he was selected for the Asian Science Camp held at the Tata Institute of Fundamental Research (TIFR). With a penchant for traveling and having lived in tons of hotels, Ritesh observed a common problem at the places he stayed – the exorbitant price of the hotel room was not proportional to the facilities provided. He felt that majority of the hotels in India couldn’t satisfy the basic needs of a traveler on a budget.
Thus, he started Oravel Stays,his first venture in 2012. He improvised his business model and re-launched Oravel as ‘OYO’ which is short for ‘ON YOUR OWN’. Ritesh Agarwal became one of the most revered Indian entrepreneurs through OYO. At the age of 26 he became a billionaire.
Net worth of Ritesh Agarwal as of now is $2 billion. He became the second youngest billionaire after Kylie Jenner in the world.
An epitome of courage and wisdom, Shradha Sharma was at the top of her career while working with famous news media houses such as Times of India and CNBC (Mumbai). During her stint with these organizations, she noticed that no one was willing to promote and air the stories of entrepreneurs—both successful and not-so-successful. She figured out that there are millions of stories storming around but no medium to share them with the masses. Shradha decided to create YourStory, an online portal that hosts entrepreneurial stories and other share-worthy content.
YourStory was started in 2008 and has allowed over 70,000 stories to come to the fore. Shradha Sharma leads a team of 100+ people who work together to offer content in 11 Indian languages. YourStory’s aim is to provide a voice to the roller coaster of emotions that an entrepreneur goes through. Shradha Sharma is the recipient of the L’Oreal Paris Femina Award and has been included in the list of Worlds’ Top 500 LinkedIn Influencers. She is one of the most followed female entrepreneurs in India. Her channel has earned more than 26 million individual views.She is one of the most followed female entrepreneurs in India.Her net worth is of $1.3 billion.
Bhavish Aggarwal, an IIT Bombay alumnus, co-founded the most popular cab aggregator in India – Ola Cabs – with Ankit Bhati. He is the recipient of the Billionth award in 2013, Best startup of the year by IAMAL, and was listed in Forbes30 under 30 list. Bhavish revolutionized the idea of cab-hailing in India by making use of smartphones. Ola Cabs was different from the other cab services at that time in the sense that it leveraged smartphones and GPS technology; thus, it became easy for people to book cabs from anywhere, at any time. Bhavish Aggarwal left a well-paying job at Microsoft to work on Ola Cabs. No one supported his idea but it was his strong will, determination, and eagerness to take risks in life that led him to the pinnacle of success. Bhavish Aggarwal is counted amongst the most successful Indian entrepreneurs. According to Time magazine Bhavish Aggarwal is one of the 100 Most Influential People this year. His Net worth is $ 500 million.
Vijay Shekhar Sharma is the founder of Paytm, the cornerstone of digitized payments in India. Vijay is from Aligarh, India. A graduate of the Delhi College of Engineering, Vijay worked on several projects and at a small startup before taking the entrepreneurial plunge. He put in USD 2 million to get One97 up and running. One97 is the parent company of Paytm. The payments platform gave Indians access to a mobile wallet, the facility of making payments using QR codes, simplified bill payments, and a lot more. These features made Paytm wildly popular. In this manner, Vijay Shekhar Sharma became an inspiration to budding entrepreneurs all over the globe. He Won the Best Serial Entrepreneur Award at the Rural and Urban Development Summit and Awards 2022 presented by the Minister of State for Ministry of Housing and Urban Affairs, Government of India.
Deepinder Goyal and Pankaj Chaddah, founders of Zomato
Deepinder Goyal and Pankaj Chaddah revolutionized the food delivery segment in India through its first foodtech unicorn Zomato. The duo are IIT Delhi graduates. Zomato started out as ‘Foodiebay’ and was first launched in Delhi. It was later extended to Mumbai and Kolkata. Now, there is not a single place in India where Zomato doesn’t render its services. Zomato’s mobile app is its USP; the app has an excellent user interface that lets you order food from the restaurant/eatery of your choice and make hassle-free payments. In Jan 2020, Zomato acquired one of its competitors- Uber Eats in India for a valuation of $300 million. In July 2022, Zomato went public with its stock listing at a premium of 53% over its issue price and it commanded a market cap of Rs 43,000 cr as of Mar 2023. In 2018, Prakash Chaddah left Zomato to venture into different fields. Net worth of Zomato CEO Deepinder Goyal is estimated to be Rs 2,000 cr as of Mar 2023.
Kunal Shah graduated with a Bachelor of Arts degree in Philosophy from Wilson College, Mumbai, and briefly pursued an MBA from Narsee Monjee Institute of Management Studies before dropping out. Shah’s first startup was a company named Paisaback, which provided cash-back promotions for organized retailers. Kunal Shah and Sandeep Tandon are the founders of one of India’s most innovative business models – Freecharge. CRED is Shah’s second venture after he sold Freecharge to Snapdeal in 2015 for $400 million. He is definitely one of the most famous entrepreneurs in India.
Binny Bansal and Sachin Bansal, founders of Flipkart
Sachin Bansal and Binny Bansal are the founders of Flipkart. The e-commerce segment in India underwent a drastic change courtesy of Flipkart. Sachin and Binny found discrepancies while searching for products on Amazon’s online store. The duo realized that the USP of their e-commerce initiative would be the timely delivery of products complemented by a simplistic user interface that leveraged the latest technology. Both the founders have now stepped down from their positions in Flipkart after it was acquired by Walmart in 2018. Flipkart is still giving a tough fight to all the e-commerce platforms out there and continues to win the hearts of Indians. India Today ranked them 50 Most powerful people of 2017 list.
Deep Kalra is the founder of MakeMyTrip. The credit for the introduction of online train bookings in India goes to Deep Kalra. A graduate of St. Stephen’s College with an MBA degree from IIM Ahmedabad, Deep worked for GE Capital and ABN AMRO bank. But the office culture and 9-5 job couldn’t captivate him enough. With a $2 million investment from eVentures and his co-founders, Deep Kalra founded MakeMyTrip, (earlier known as ‘India Ahoy’) in the year 2000. The company was listed on NASDAQ in August 2010. After IRCTC joined the race, Deep diversified MakeMyTrip by introducing hotel bookings. MakeMyTrip has mergers with MyGola, TrulyMadly, and the ITC group, to name a few. Deep Kalra is the chairperson of the NASSCOM Internet Working Group, a member of the Executive Council of NASSCOM, and is part of CII’s tourism sub-committee. He was ranked no 1 in a list of most powerful digital influencers in India by KPMG in 2011. His net worth is $ 136 million.
BYJU’S has helped thousands of students who struggle with subjects such as mathematics and science crack some of the hardest entrance exams like the JEE, NEET, and UPSC, CAT, IAS, and international examinations such as GRE and GMAT. BYJU’S has dominated the online education vertical for quite some time now. Byju Raveendran is the founder of BYJU’S. He is an engineer who worked in a shipping firm and accidentally stepped into the field of teaching when he assisted his friends with their CAT exam. Raveendran’s friends cleared the exam with flying colors and this motivated him to take up teaching on a full-time basis. Byju Raveendran started BYJU’s with an initial investment of just INR 2 lakhs. The startup’s valuation has recently crossed $22 billion as of March 2022, and the company have over 115 million registered students.In January 2022, the company joined Simplilearn, Unacademy, upGrad, PrepInsta Prime and Vedantu to become one of the founding members of IAMAI’s India EdTech Consortium.
In March 2022, the company signed a contract with Qatar Investment Authority to establish a new edtech company and a R&D center in Doha.
The concept of bringing the grocery store to one’s doorstep has done wonders across the globe. With it, the problem of waiting in long queues at groceries has now gone for a toss. Indians too now prefer the online route for grocery shopping. And who has dominated this segment? BigBasket. Hari Menon is the founder of BigBasket. With sales of over INR 150 crores per month, BigBasket has cemented its place as one of the big shots in the Indian e-commerce domain. It is operational in Bangalore, Mumbai, Delhi-NCR, Hyderabad, Chennai, Pune, Ahmedabad, and Kolkata at present. In 2021 Tata Digital buys 64% stake in BigBasket His company received a lot of awards such as Consumer Internet Company of the Year by VC Circle Awards 2016, Best Online Grocer at Coca Cola Golden Spoon Awards 2016, Best retail and e-commerce app of the year at AWS Mobility Awards 2017, etc.
Albinder Dhindsa wanted to provide the services of a grocery, bakery, and general store through a consolidated platform. His dream took the form of Grofers, an Indian online grocery service. Albinder Dhindsa and Saurabh Kumar founded Grofers. The duo worked hard to infuse new ideas into the online delivery system in India. Grofers is worth around $650 million today. The company has shifted from a B2B to a B2C business model. Grofers was named one of the Top 10 startups in Delhi and Gurgaon in 2014. Grofers had attained unicorn status or $1 billion in valuation, after raising over $120 million from food aggregator Zomato Ltd. On December 13, 2021, Grofers changed its brand name to Blinkit. As of 2021 Albinder holds 5-10% stake in the company.
Sanjiv Bajaj is known as the Chairman and Managing Director of Bajaj Finserv. Born into a family of the Bajajs, a business house started by Jamnalal Bajaj, who led the Bajaj Group to glory, Sanjiv had the zeal to raise their family business to amazing highs. Sanjiv is the son of Rahul Bajaj and great-grandson of Jamnalal Bajaj. After completing his Btech. in Mechanical engineering, followed by a Masters in manufacturing systems from the University of Warwick and an MBA from Harvard Business school, Sanjiv started his career with Bajaj Auto in 1994.
He had been a promising businessman from the very first, which helped him scale numerous prestigious designations within the organization. He had brought the American-style supply chain management to Bajaj Auto. Bajaj is currently serving as a non-executive director of Bajaj Auto.
Along with Bajaj Auto, Sanjiv also contributed to Bajaj Finserv, Bajaj Allianz Life Insurance, Bajaj Allianz General Insurance, Bajaj Finance for which he was appointed as the Chairman and Vice-Chairman. Sanjiv even led Bajaj Allianz General Insurance to emerge as the 2nd most profitable insurance company in India. Being an accomplished entrepreneur, Bajaj won a range of awards for the same, like the Entrepreneur of the Year” Award 2015-16 from Bombay Management Association, Ernst & Young’s Entrepreneur of the Year Award in 2017, Economic Times Awards for Business Leader of the Year 2018. Therefore, Sanjiv Bajaj can be regarded as one of the greatest entrepreneurs and business leaders that India has seen to date. Sanjiv Bajaj has a revenue of over ₹ 36,692 crore ($ 4.4 billion) and profit of over ₹ 2,866 crore ($ 348 million) for H1 FY2022-23.
PolicyBazaar has certainly grown to become one of the best insurance aggregators and a global technology company but it might not have secured the illustrious position that it now stands on if it was not for the Chief Executive Officer and Cofounder of the company, Yashish Dahiya. Dahiya was a student of IIT Delhi, from where he did his Bachelors in Engineering. He then went on to complete a Post Graduate Diploma in Management from IIM Ahmedabad, which was followed by an MBA from INSEAD in 2001.
Yashish was the MD of the pan-European travel distributor, ebookers.com, and had previous experience of working as a strategy consultant of Bain & Co. in their London office before he founded PolicyBazaar in 2008. Yashish Dahiya had a major contribution to PolicyBazaar since he founded the company along with Alok Bansal and Avaneesh Nirjar in 2008, which has successfully become a key influencer in consumer decisions around insurance now. Furthermore, the platform hosts over 100 million visitors a year on average on its platform.
Dahiya was honored with the EY Entrepreneur of The Year (EOY) 2019 award in the Financial Services category and more for all that he had done for PolicyBazaar. Yashish Dahiya is also an extraordinary sportsperson along with a celebrated entrepreneur. He is the Indian masters swimming champion and has taken part in several world masters swimming championships representing India. Furthermore, Dahiya also boasts of having the 3rd fastest half ironman timing and the 5th fastest Ironman timings amongst Indians across all age groups along with having the fastest timings in his age group. In June 2021, Policybazaar obtained the insurance broking license from IRADA and announced that it would set up 100 offline outlets across India. The company also surrendered its web aggregator license. PB Fintech Ltd, the parent company of Policybazaar, opened its initial public offering (IPO) and raised ₹5,625 crore(US$700 million).Shares of PB Fintech Ltd began trading on National Stock Exchange and Bombay Stock Exchange in November 2021.
It seems nothing less than a dream when we talk about a fan of Manchester United, Mumbai Indians, and the Indian cricket team, who founded a company named Dream11 for the love of sports that he nurtures. Yes, it happened with Harsh Jain, who with his founding partner, Bhavit Sheth, founded Dream11 and Dream Sports, India’s no. 1 sports fantasy platform for sporting enthusiasts. That allows users to play fantasy cricket, hockey, football, kabaddi, handball, basketball, volleyball, rugby,futsal, American football,and baseball.
Harsh was the son of Anand Jain, an Indian business magnate previously associated with Mukesh Ambani. He was born in Mumbai, India, and was an engineering student at the University of Pennsylvania, after which he went for an MBA from Columbia Business School. Harsh began his career with Microsoft from where he completed a 2 months Summer Internship from June 2006 to August of the same year after which he went to work in Jai Corp Limited as a Marketing Manager. His father, Anand Jain was then the Chairman of the company. Jain worked at Jai for 13 months, when in 2008 he decided to establish Dream11.
Harsh is currently serving as a Culture Enforcement Officer (CEO) & Co-Founder of Dream Sports (Dream11, FanCode, DreamX, and more) and one of the leading entrepreneurs of India. Harsh is a major inspiration for the budding entrepreneurs of the country for sure. In April 2019, Dream11 became the first Indian Fantasy sportcompany to become a unicorn.In November 2021 Dream11 was valued at $8 billion.In December 2022, Dream11 had 160 million active users in India.
Supam Maheshwari is better known as the CEO and Co-Founder of Firstcry, India’s online marketplace for baby products. Supam was a postgraduate student from IIM Ahmedabad and started Brainvisa, as his first company with Amitava Saha, back in March 2000. The Pune-based company witnessed a steady growth before it was acquired by the US-based group, Indecomm Global in 2007.
Supam served as the Co-founder and the CEO of Brainvisa till December 2009 in order to found another company. He founded FirstCry.com in August 2010 along with Amitava Saha, Prashant Jadhav, and Sanket Hattimattur.
The idea of establishing an eCommerce company focused on baby care products was rooted deep in his personal experience as a first-time parent, who faced numerous challenges in sourcing the best product for his baby. Firstcry has grown to be a market leader when it comes to baby products online. The company currently boasts of over 380 stores across India.
His net worth could be estimated at 190 million USD.The baby products marketplace’s valuation stands at 1.9 billion USD after an equity funding round of 13 million USD with pi Ventures As of 2021.
FirstCry had increased its IPO size from around $700 Mn to $1 Bn, aiming at a valuation of around $6-7 BnIN Aug 2022
Richa Kar is the face of one of India’s largest online lingerie stores, Zivame. Richa was born in a conventional family in Jamshedpur. Kar was an engineering student, who completed her graduation from BITS Pilani and eventually went for a corporate job in Bangalore. Richa eventually left her job in order to pursue an MBA, after which she joined Spencers Retail and then SAP Retail.
Her exposure in the retail industry helped her develop knowledge and practical skills beneficial for the retail industry. While working with SAP, Richa was intrigued about Victoria’s Secret, America’s largest retail company for women’s lingerie, and the success it enjoys. Soon after, she realized that India hasn’t got any such websites empowering women to shop for their own lingerie online smoothly and fearlessly.
Though Richa had a considerable experience of around 8 years by then in the retail industry, her parents didn’t get the concept of selling lingerie and weren’t sure how they would speak of her daughter, who is involved in such a profession to others. Therefore, she gravely lacked any support from her family but with her strong will and zeal to found a startup, she ultimately managed to establish Zivame with Kapil Karekar in 2011. Zivame has now become an online leader in its segment, offering more than 5,000 styles, 50 brands, and 100 sizes. Zivame products come at affordable prices with high quality.
The company that initially started with Rs 35 lakhs, which Richa borrowed from her friends, is currently one of the best women’s lingerie marketplace in India. Zivame has received $69 million in funding at a valuation of $98.6M and her net worth is Rs 749 crores, according to reports. The company currently holds about 26% of the market share of the women’s online lingerie market in India, which stood at Rs 430 crore in FY19.
Ashish Hemrajani is an Indian entrepreneur, popularly identified as the Co-founder and CEO of Bigtree Entertainment Pvt. Ltd., the parent company of India’s biggest online entertainment ticketing platform BookMyShow. Ashish Hemrajani completed his MBA with Marketing as his specialization from Sydenham University in 1997.
As soon as he completed his MBA, he went to work with J. Water Thompson. However, after working in the client management segment of the firm for 2 years, Ashish left the company in order to start his new venture with Bigtree Entertainment and BookMyShow in 1999.
BookMyShow still stands as a leading online ticketing solution for Indians. Under the leadership of Ashish, the company further expanded to New Zealand, UAE, Indonesia, and Sri Lanka. BookMyShow also had a feature to buy tickets of sports matches like IPL, ISL, etc. They now have employ over 400 people across offices in Mumbai, Delhi, Hyderabad, Chennai, Bangalore. Ashish Hemrajani Net worth is estimated at Rs.3000 Crore as of 2021.
Shiv Nadar is a founding member of HCL Technologies and a prominent Indian entrepreneur, billionaire industrialist, and the recipient of India’s 3rd highest civilian award, Padma Bhushan. Shiv Nadar is the 3rd richest person of India, as of September 2021 with a net worth of around US$29.3 billion. Nadar goes by the nickname “Magus” (meaning: wizard in Old Persian), which he received from his friends.
Nadar was educated in the St. Joseph Boys Higher Secondary School, Trichy, and received his pre-university degree from the American College, Madurai. He again pursued Electrical and Electronics Engineering from the PSG College of Technology, Coimbatore, and received his Bachelor’s in engineering.
Walchand Group’s Cooper Engineering Ltd., Pune, which he joined in 1967, marked the start of Nadar’s career. However, he soon left his job role and founded Microcomp, a company that focused on selling teledigital calculators in the Indian market. Soon after that, he founded HCL in 1976 in collaboration with several friends and colleagues and with an investment of Rs 187,000.
The company made revolutionary advancements in the Indian IT landscape and is still regarded as one of the best among the homegrown IT companies whereas Shiv Nadar stands tall and towering as one of the top entrepreneurs of India.
The founder and CEO of the cyber security company, TAC Security, Trishneet Arora, was named in Forbes 30 Under 30 2018 Asia list and also in Under 40 List of India’s Brightest Business Minds 2019 by Fortune magazine, in 2020 Entrepreneur of the Year in Service Business-Security, 2021 Fortune India 40 Under 40 and 2022 he was Awarded as global leader of tomorrow.
Arora failed in the 8th standard but his relentless love for computers and coding drove him through the path of glory to become a professional ethical hacker and a renowned cybersecurity expert. Arora dropped out of school but continued with his studies along with fixing computers and cleaning up software.
Trishneet was only 19 when he founded his own company, TAC Security Solutions in 2013 and he has never looked back since then. The cybersecurity company, TAC Security offers protection to numerous corporations like Reliance Industries, CBI, Gujarat Police, and Punjab Police and others, against network vulnerabilities and data theft. Trishneet Arora’s net worth is $5 million as of now.
The founder of Reliance Industries, Dhirajlal Hirachand Ambani, or Dhirubhai Ambani, as he is popularly known, was a successful entrepreneur and business tycoon, who took Reliance public in 1977. Dhirubhai has been recognized with numerous awards and accolades heaped on during his lifetime and was also awarded the prestigious Padma Vibhushan, India’s second-highest civilian honor after he died in the year 2002.
Dhirubhai was a student of the Bahadur Khanji school. After the completion of his studies, he left for the Port of Aden, Yemen, to work for A. Besse and Co., for which he was later involved in selling shell and Burmah oil products. However, he left Aden and came back to his motherland to start his own company. Initially starting with “Majin” in partnership with Champaklal Damani, Dhirubhai eventually set up Reliance Commercial Corporation in 1966, which was later rechristened as Reliance Industries in May 1973.
Also, it was Dhirubhai who launched the popular textile brand ‘Vimal’. Dhirubhai died when he was 69 and was worth around $2.9 bn upon his death.
Lakshmi Niwas Mittal is the Executive Chairman and CEO of the largest steel-making company in the world, ArcelorMittal, and an Indian steel magnate based in the United Kingdom. Besides, Mittal also serves as the Chairman of Aperam, a stainless steel manufacturer, which spun out of ArcelorMittal. Mittal owns around 38% stakes in his company along with another 20% stakes in the EFL Championship football club, Queens Park Rangers.
Lakshmi Mittal has also been appointed as a member of the board of directors of Goldman Sachs since 2008. Mittal was recognized with titles, honors, and awards of various kinds from time to time including “the third-richest person in the world” as announced by Forbes in 2005. He was also announced as the “Business Person of 2006” by Sunday Times, “Person of the Year” by Financial Times, In 2008 he was awarded the Padma Vibhushan, and more.
Born in a Marwadi family, Lakshmi studied at Shri Daulatram Nopany Vidyalaya in Calcutta and graduated from the University of Calcutta affiliated St Xavier’s College with a B.Com degree in the first class. Mittal first chose the business way by founding the steel factory PT Ispat Indo. He went to purchase numerous companies from abroad, like the Irish Steel plant, starting from the state-owned steelworks in Trinidad and Tobago, all of which were successful initiatives.
Mittal ultimately succeeded to come out triumphant in a hostile takeover bid of Arcelor and later renamed it to ArcelorMittal, which is currently responsible for bringing a lion’s share of revenues for Mittal. As of 2022, he was ranked as the 15th richest man in India by Forbes with a net-worth of US$17.8 billion.
Informally known as the Czar of the IT industry of India, Azim Premji is the face of Wipro. Premji is known as an entrepreneur, investor, engineer, business tycoon, and philanthropist who was responsible for cementing the position of Wipro as one of the most prestigious of the Indian multinational corporations through more than four decades of growth and diversification.
Azim Premji is the founding Chairman and a non-executive member of the board of the company and has been twice listed by Time Magazine among the 100 Most Influential people.
Premji went for a Bachelor’s degree in Electrical Engineering from Stanford University but he had to come back to take charge of Wipro, which was then termed as Western Indian Vegetable Products. He expanded the business to a large scale and later on discovered the vacuum that IBM left on its expulsion from India. He filled the gap by developing the IT wing of Wipro.
Premji is one of the most successful Indian entrepreneurs whose total wealth was estimated $9.3billion and $25 billion respectively as of feb 2023. Moreover, he is also recognized for his philanthropic nature. He makes most of his donations to the Azim Premji Foundation and had agreed to give away half his wealth by signing the Giving Pledge in 2013. In 2019, he dropped from the 2nd position in the Forbes India Rich list to 17th position after giving away a huge amount to charity.
He topped the EdelGive Hurun India Philanthropy List for 2020
We all have heard about Dunzo but do you know who founded it? The 24/7 delivery app was founded in July 2014 by Kabeer Biswas, Ankur Agarwal, Dalvir Suri, and Mukund Jha. Kabeer Biswas is the CEO and Co-founder of Dunzo, who completed his B.E from the University of Mumbai and followed it with an MBA from Narsee Monjee Institute of Management Studies (NMIMS).
He started his career with Bharti Airtel, Videocon Telecommunications, and then went on to found Dunzo. Dunzo currently provides its delivery services in eight Indian cities including Bangalore, Delhi, Gurgaon, Pune, Chennai, Jaipur, Mumbai and Hyderabad.
In August 2021, Dunzo launched a new service, Dunzo Daily, to deliver essentials and household items in 19 minutes. January 2022, Reliance Retail led a US$240 million funding round along with Dunzo’s existing investors Lightbox, Lightrock, 3L Capital and Alteria Capital. Reliance Retail invested US$200 million for a 25.8% stake in Dunzo.
Ratan Tata is the former Chairman of Tata Sons and Tata Group and is still the head of the charitable trusts of the company. A scion of the Tata family, Ratan Tata was the son of Naval Tata and later adopted by Jamsetji Tata.
He is well-known as an Indian industrialist, philanthropist, and one of the few business tycoons who are synonymous with success. Tata was the recipient of two of the highest Indian civilian awards – Padma Bhushan and Padma Vibhushan.
Ratan Tata was a student of the Cornell University of Architecture and completed his Advanced Management Program from the Harvard Business school in 1975. Tata was the apparent successor of J.R.D Tata, who started with the shop floor of Tata Steel and was responsible for expanding the company on a massive scale.
Largely credited with the diversification and growth of Tata, Ratan Tata helped the company acquire numerous businesses and companies including Tetley, Jaguar Land Rover, and more, and scaled the company to unimaginable heights. Ratan Tata is currently featured among the top entrepreneurs of India and an inspirational figure for all the budding entrepreneurs and other individuals.
Nithin Kamath is the Co-founder of the biggest stock-broking company in India, Zerodha, an inspirational entrepreneur, and is famous as one of the self-made billionaires of India. Nithin along with his brother, Nikhil Kamat has also been declared as the richest self-made billionaire in India under 40, according to IIFL Wealth and Hurun India’s 40 & Under Self-Made Rich List 2020 with a combined wealth of Rs 24,000 crores, as assessed in 2020. In year end march 2022 zerodha net profit was 2094.3 crore.
The company has valued itself at $3billion, based on the valuations of employee stock option. Nithin Kamath was a student of Bangalore Institute of Technology but he was never quite inclined to academics. Kamath got into the world of trading at the early age of 17 and eventually, his love for trading grew.
Nithin was successful in trading but also lost quite a lot of his money in the early 2000s. Kamath then returned to a fixed job at a call center, where he worked for 4 years before joining Reliance Money as a franchisee in proprietary trading and advisory services. He worked hard and saved his capital to establish his own company Zerodha in 2010 and emerge at the top of his game with Nikhil.
Kiran Mazumdar Shaw is an Indian billionaire entrepreneur distinguished for being the executive chairperson and founder of Biocon Limited and Biocon Biologics Limited. Furthermore, she was also recognized as the former chairperson of the Indian Institute of Management, Bangalore. Kiran was the recipient of the Othmer Gold Medal for her contributions to the fields of science and chemistry.
Financial Times listed her among the Top 50 women in the business list while Forbes listed her as the 68th most powerful woman in the world. Furthermore, Kiran was also named the EY World Entrepreneur of the Year in 2020.
After completing her graduation from Bangalore University with a bachelor’s degree in Zoology, Kiran went to the fermentation science and brewing at Melbourne University and topped her class emerging as a master brewer in 1975. She struggled to join as a master brewer in India after serving Carlton and United Breweries because the breweries here believed that the job of a master brewer is a “man’s work.”
However, Kiran discovered huge opportunities abroad and joined Biocon Biochemicals Limited, and eventually started Biocon India. In 2015, she joined The Giving Pledge, promising that at least half of her wealth will be dedicated to philanthrop. In 2019, she was listed as the 68th most powerful woman in the world by Forbes. She received Firodia Lifetime Achievement Award 2022 for her contributions to science and technology.
In January 2020 Kiran received the international award and became the fourth Indian citizen to be honored with Australia’s highest civilian award. In year 2023 they start
Kiran Mazumdar-Shaw scholarship for the students who study in the fields of science, technology or mathematics at the Mount Helen Campus. By 2022 she has a net worth of $3.1 billion.
Back in 2010, paying gas, electricity, telephone bills, and recharging our mobiles, DTH, and more wasn’t as easy as it is now. Then, Freecharge was one of the companies that came into being, which greatly helped the Indian masses to empower their digital ways. Sandeep Tandon was one of the founders of this precursor of today’s digital payments app, Freecharge, which he founded in 2010 with Kunal Shah.
A technology investor and one of the most successful entrepreneurs of India, Sandeep Tandon was a student of Bombay Scottish, after which he pursued a Bachelor’s and then Masters of Science in Electrical Engineering from the University of Southern California. Sandeep started his career with a Los Angeles startup where he worked as an application manager.
However, it wasn’t long before he left the company and initiated his own venture, Celetronix but that was again sold to Jabil Circuits.
Freecharge was the next company that he founded, which emerged as the fastest-growing mobile payments app in India. After a short but successful period, Freecharge was acquired by Snapdeal and then eventually acquired by Axis bank, which currently owns the company.
Being a successful entrepreneur with years of experience, Sandeep Tandon is currently serving as the Managing Director of Tandon Group, as an Angel investor, and a mentor to the young entrepreneurs.
As eccentric as its name, Bewakoof boasts of an incredibly successful run as a casual wear and accessories hotspot for the current generation and undoubtedly a major part of its success goes to its Founder Director, Prabhkiran Singh. He along with Siddharth Munot founded Bewakoof.com back in 2010, which has since been a raging success for its unique printed t-shirts, joggers, funky mobile covers, and other accessories.
Both being civil engineering graduates from IIT Bombay, Prabhkiran and Siddharth were well-known to each other. In fact, both of them started with their independent startups right after they completed studies but none of them truly worked before Bewakoof was launched, which disrupted the Indian markets, promoting the “silliness” when it comes to fashion.
The estimated annual revenue of Bewakoof in 2020 was INR 200 Crores. The net worth of Bewakoof is estimated at INR 100 Crores.
The Indian traditional consumer products market was all saturated and boring, hoping for an upcoming disruption, which Mamaearth brought with its honest, organic, and safe products. The initial idea emerged out of a real-life problem that Varun and Ghazal Alagh faced while raising their own baby.
All of us want to extend our utmost care and best quality products to a newborn and Varun and Ghazal Algh wanted the same for their baby. However, it was when they were expecting their baby that they found the reality about the Indian baby products, none of which met the safety standards required to be applied on a baby. They first started to import baby products from the US but that was neither feasible nor less of a burden to their finances.
This made the research, apply for proper certifications and resulted in the launch of Mamaearth after 4 years of hard work and R&D. Mamaearth is currently hailed as the first Asian brand with the MadeSafe certification for its toxin-free and entirely herbal products. Furthermore, it boasts of having served over 1.5 million customers across 500+ cities of India. The parents turned entrepreneurs, Varun Alagh and Ghazal Alagh have achieved an envious success and are looking forward to a brighter way ahead as one of the most successful Indian entrepreneurs.
The company has expanded into offline distribution through multi-brand retail outlets and exclusive stores, to both online and offline markets. Their next step is to expand the offline business to 100,000 outlets and 100 Indian cities. The company has estimated revenue of INR964 crore in FY22, a growth of 109% over the past year.
PhonePe is akin to digital payments in today’s India. This market leader of a UPI-based digital payments platform was founded by Sameer Nigam, along with his co-founders, Rahul Chari and Burzin Engineer in December 2015.
Sameer Nigam has an MBA in Entrepreneurship from The Wharton School. After completing his schooling at DPS Noida, Sameer went to study Computer Engineering at the University of Mumbai and then completed a Masters of Science in Computer Engineering from the University of Arizona, finally finishing his MBA in 2009.
Sameer served as the Director of Search Product Development at Shopzilla for a little over 6 years, after which he launched Mime360, an online social media distribution channel. Mime360 was eventually acquired by Flipkart, where he again served as a Senior Vice President, Engineering but he left the company after one and half years to start his own company, PhonePe.
PhonePe has since been a roaring success! PhonePe continues to be the top player in the Indian payments ecosystem and accounted for nearly 50 percent of all UPI transactions processed in December 2022, According to National Payments Corporation of India (NPCI).
Conclusion
We hope this list of famous Indian entrepreneurs motivates you to act on that startup idea you have in your head. Who else do you think should be featured in this list? And what makes you go gaga over him or her?
Contact: shubham@startuptalky.com
FAQs
Who is the youngest entrepreneur in India?
Shravan Kumaran and Sanjay Kumaran are the youngest entrepreneurs in India. They co-founded the company called ‘GoDimensions’ a development unit, in 2011 at their home at the age of 10.
Who is the world’s richest person?
The world’s richest person is none other than the founder and CEO of Tesla, Elon Musk, who boasts of a net worth of $223 billion, as of February 28, 2022.
Who is the richest Indian?
Mukesh Ambani is the richest Indian with a wealth of $103 Billion, as of March 2022.
Is a CEO an owner?
The title of CEO is typically given to someone by the board of directors. Owner is a job title that is earned by sole proprietors and entrepreneurs, who have total ownership of the business. However, these job titles are not mutually exclusive — CEOs can be owners and owners can be CEOs.
Who are the leading Indian entrepreneurs now?
To name some of the most prominent Indian entrepreneurs, we must list:
Did you know 17% of small businesses fail because they lack a business model? Entrepreneurs now are the time to learn about this amazing business model canvas, which will make that stress go away. Here, I have taken the real-life example of Uber for this business model canvas.
A lean canvas and a value proposition are two sorts of business models. These are tools for validating company concepts geared for startups. Both originate from Alexander Osterwalder’s ‘business model canvas,’ which we’ll explore today.
The primary distinction between the business model canvas and the lean canvas is that the business model canvas was developed for well-established businesses to track their efficiency and evolution through time. Startups are the most common users of lean Canvas for product launches.
The business model canvas is popular among entrepreneurs. It’s a risk-detection tool that’s adaptable, intuitive, and value-driven. That’s why it’s commonly referred to as a one-page business plan. The canvas is divided into nine areas, each of which must be filled with specific company information.
About Uber
In the business realm, Uber is a well-known name. Millions of business owners and entrepreneurs have been motivated by extraordinary success, and the trend is expected to continue. This California-based ride-hailing service, which was founded in 2009, has ushered in a huge change by igniting the on-demand economy.
From its humble beginnings, it has come a long way from a basic idea of allowing customers to hail a cab with a single tap to being the world’s largest ride-sharing firm. Uber currently controls over 68% of the total ridesharing market in the United States.
Uber statistics in 2021
According to statistics, Uber undertakes around 1.44 billion rides each quarter. Uber has raised $25.2 billion in fundraising, has over 100 million active customers, 4 million Uber drivers, and a net worth of $95.67 billion. So far, Uber’s success has inspired millions of business owners and entrepreneurs.
The aggregator business model was first introduced to the world by Uber. It operates on a multi-sided platform business strategy that serves as a link between riders and drivers. Simply put, Uber has a two-pronged business model. While it enables clients to hire a taxi with a simple click, it also enables cab drivers to complete their rides on time and safely.
Customer segments
You must determine your most significant customer to whom you are providing value. The persona method aids in the creation of an imaginative portrayal of user categories. There are two types of Uber users: drivers and riders. Each one caters to a specific group of people that are interested in what Uber has to offer.
The first group i.e. drivers are:
Full-time job seekers
Generate extra income
Love to drive
Looking for a flexible work environment
The second group i.e. Users are:
Don’t own cars
Don’t know how to drive
Looking for comfort & luxury
Looking for cost-effective transportation services
Each persona has unique challenges or prerequisites that your product or service can address, and you must specify these in the value proposition section. List as many jobs as feasible that correspond to the needs of your target customer segments.
For drivers, it’s the ability to work flexible hours and earn more money, while for passengers, it’s the ability to pay with credit cards and cheaper prices. Decompose this part into specific chores to be done, customer pains and gains, and relate them to your product value using the value proposition canvas.
Value proposition or benefits Uber offers are:
To drivers:
Ease in getting started
Opportunity to earn
Ease in accessing more passengers
Flexible working schedules
Get paid online
To customers:
Minimum waiting time
Reduced transportation costs
Cashless rides
Safety & security
Upfront pricing
Channel
The communication unit that entrepreneurs use to contact customer segments is referred to as a channel. If you offer your products through a website, that is one of your business model canvas channels. Search engines, social media, and even word-of-mouth marketing are examples of this.
Uber’s channels include:
Website
Smartphone app (android & IOS)
Social media
Google Adwords
Media coverage
Word of mouth
Relationship with customers
The way you interact with customers is defined in this section. Customer interactions included follow-up and feedback after the sale. If you connect with users through a call center or a Chabot, specify it here.
Uber maintains its customer relationship through:
Social media
Customer support
Rating, reviews & feedback system
Revenue streams
You must define the methods by which your company obtains funds in the revenue streams section. They’re usually derived from customer segmentation and value proposition mapping. Uber passengers, for example, use their credit cards to pay for their rides. Uber makes money by charging a commission for each ride. Other revenue streams could include billable add-ons, subscriptions, premium accounts, and so on.
Uber’s revenue streams are:
Car rides per km/mile basis
Surge pricing
Brands like Uber X, SUV, etc.
Divisions like Uber Eats, etc.
Advertising & marketing
Key activities
Now comes the difficult part, key activities cover everything you need to do to make your company work with digital products. This entails continuous product development and marketing. Recruiting, advertising and other such activities are part of these operations.
If you provide certain services, this may include information that can help you improve your capabilities. When filling the key activities portion of the business model canvas, keep in mind the other sections you’ve already completed.
Uber’s key activities are:
Platform development & enhancement
Marketing & customer acquisition
Sales promotion
Hiring drivers
Customer support
Manage driver payouts
Communicate with customers, drivers
Key resources
The assets you require to run your organization at max potential are known as key sources. Uber is based on a sophisticated technological platform. It also needs drivers to support its value proposition. Staff and expertise are heavily relied upon by service-oriented businesses.
Uber’s key resources include:
Network of drivers & riders
Digital platform (website & apps)
Technology talent
Advanced Algorithms & Data Analysis
Brand image
Key partners
You must define any external stakeholders who can contribute to your business in the key partner section. The development of tech platforms can be driven by Uber investors. Drivers can be hired with the help of recruiting partners.
Uber’s key partners are:
Drivers
Investors & venture capitalists
Technology partners
Commercial partners
Payment processors
Map API providers
Lobbyists
Cost structures
You should be able to tell what you spend your money on based on your cost structures. If your enterprise grows, you must also mention future costs. This area includes expenses such as hardware procurement, software development, and rental services.
Attributes that make the cost structure of Uber are:
Customer acquisition costs
Legal & settlement costs
Insurance costs
Research & development
Lobbying & compliance
Platform maintenance
Infrastructure cost
Customer support
After you’ve created your business model canvas, the next step is to analyze it. You have a comprehensive view of what’s going on in your company and can spot bottlenecks. Make sure to share it with stakeholders so that the content may be improved. Also, don’t cling to the canvas’s original version as it is a flexible document.
Uber, like other successful startups, did not become well-known overnight. Their success may be traced back to greater business model innovation, which provides clients with better services at reduced prices. Almost everyone appreciates the services they provide. Uber has transformed mobility for billions of people across the world by arriving on time, conveniently, and safely.
FAQ
Who is the founder of Uber?
Travis Kalanick and Garrett Camp founded Uber in 2009.
Who is the CEO of Uber?
Dara Khosrowshahi is the current CEO of Uber
What is the revenue of Uber?
The revenue of Uber was 1,113.9 crores USD in 2020.
Ola cabs is an Indian ride-hailing platform that was founded in 2010 by Bhavish Aggarwal and Ankit Bhati with a mission to offer easy travel for millions of Indians. It is India’s largest ride-sharing service app with a market share of $6.5 billion.
Foodpanda is a Germany-based online food delivery platform which is owned by Delivery Hero. Foodpanda currently operates with 20 brands in 50 countries around the globe and has its headquarters in Berlin, Germany.
Foodpanda’s business in India was procured by Ola for all offer arrangements in December 2017. The total Amount Invested by Ola in Foodpanda was around $40-$50 million.
TaxiForSure.com
TaxiForSure is an aggregator of vehicle rentals and cabs for people to get an effectively available, reliable, and dependable taxi ride. They work with different taxi managers and empower them with innovation to guarantee that people get taxi rides. As the name suggests, TaxiForSure.com promises a sure taxi ride.
The Banglore-based company was acquired by Ola Cabs in 2015. After the acquisition of TaxiForSure.com, Ola gained a massive lead over its biggest rival, Uber, and boosted its revenue. Ola has invested around $200 million in this startup
Ridlr
Ridlr is an Indian public transporting and ticketing app used for intra-city travel founded in 2012. Ridlr permits travelers to get ongoing data about the different modes of travel. It also books tickets and tokens through the application via online payments. Ridlr has a firm connection with BEST (Brihanmumbai Electricity Supply and Transport)
Since Ridlr has strong connections with BEST and Ola always wanted to be the biggest transporter, Ola cabs made its second acquisition in this public transport ticketing app. Ridlr secured funding of over $25 million from Ola in 2018.
This was a big achievement for Ola since it always wanted to expand its business beyond extensive ride-hailing and get into public transport as well.
Geotagg is a startup founded by IIT Madras graduates, zeroed in on giving systems in the field of Intelligent Transportation Systems. Geotagg has designed a GPS-based public information system specifically for Indian traffic scenarios. Ola, the country’s biggest online taxi aggregator, is hoping to solidify its client base by venturing into related vehicle organizations including transport administrations, carpooling, and bike taxis.
Qarth
Qarth, which runs a versatile installments application called X-Pay, is Ola’s second investment in the mobile payment space. Ola has acquired mobile payments organization Qarth to encourage its wallet administration Ola Money dispatched in November 2015.
Ola consistently is searching for digital cash move administrations for its Financial Arm Ola Money. It will assist buyers to pay using the digital wallet for both food and grocery. You can not only use Ola Money for making payments for Ola rides, but it can also be used on other online platforms like Lenskart, Oyo Rooms, Saavn, and Zopper.
FAQ
What are the Startups funded by Ola?
The startups funded by Ola are TaxiForSure, Geotagg, Qarth, Foodpanda and Ridlr.
Who is the founder of Ola?
Bhavish Aggarwal, Ankit Bhati founded Ola cabs in 2010.
Is Ola an Indian company?
Yes, Ola is an Indian ridesharing company founded in 2010 by Bhavish Aggarwal and Ankit Bhati.
When it comes to automobiles, millennials today do not believe in ownership and maintenance of their cars and bikes. They believe in renting, using, enjoying, and being merry! Exploiting this insight merely on its merit, Ashwarya Pratap Singh, Hemant Kumar Sah, Abhishek Mahajan, Vasant Verma, and Amit Sahu started Drivezy in the year 2015.
Drivezy (formerly JustRide) is India’s largest marketplace for car and two-wheeler sharing. Through Drivezy, travelers can book scooters, motorcycles and cars from people living around them.
All in all, Drivezy is a car rental platform. Car owners can list their vehicles on Drivezy when they are not using it and the customers can rent it whenever they want to. It offers the following features to the users:
Bookings can be done on the website or from the mobile application.
18+ is the legal age to book bikes and cars on Drivezy.
The users can book the vehicles on an hourly, daily, weekly basis. They also have the option of fuel or no fuel vehicle bookings.
The security deposit on Drivezy is minimal. It can range from INR 0 to INR 999.
Drivezy provides its customers with home pickup service.
Drivezy releases instant payments to the car owners and refunds to the consumers in the given case.
Founders of Drivezy and team
The Drivezy founders are Abhishek Mahajan, Amit Sahu, Ashwarya Pratap Singh, Hemant Kumar Sah, and Vasant Verma.
Drivezy Founders
Ashwarya Pratap Singh, Co-founder and CEO of Drivezy – Ashwarya is a graduate in Electronics and Communication Engineering. Also an alumnus of Y Combinator batch of 2016 and the first batch of Google Launchpad. He served as a mentor at Launchpad during his post-Graduation.
Hemant Kumar, Co-founder of Drivezy – Before launching Drivezy, Kumar was an application developer at Service Now and a senior consultant at Oracle India before that. Kumar has graduated in B.tech from MNNIT.
Abhishek Mahajan, Co-founder of Drivezy – Graduated from IIT Bombay, Abhishek was an Associate Consultant at PwC India. He is also a CFA Level 2 candidate.
Vasant Verma, Co-founder and COO of Drivezy – Before Drivezy, Verma worked as a global market analyst at Nomura. Vasant Verma has a graduation degree in B.tech from MNNIT.
Amit Sahu, Co-founder of Drivezy – After graduating from the MNNIT, Allahabad, Sahu worked as a vehicle testing engineer in Honda R&D India Dept. Performance testing of Various cars would fall under his domain. After this, he went on to work at Drivezy.
It all started when one of the co-founders Ashwarya Singh bought a new car that met with an accident in the early days itself. Singh didn’t use the car so much but still considerably spent a chunk of his salary in the maintenance of the car. This got him thinking about creating a platform where one could rent cars.
There was one more thought that drove the inception of Drivezy, then justride.in, that the majority of people in India can’t afford to buy cars. He then went on to discuss this idea with his college friends, now the co-founders and launched Drivezy in 2015 in Bangalore.
Drivezy – Startup Launch
Drivezy was previously called Just Ride. In 2017, the team thought of adding bikes to their range of products to expand and increase their user base. Drivezy works on a model where the ideal cars and bikes of the owners are listed with them and the vehicle owners can generate cash even when they are not using the bikes or cars. The individual owners of the commercial vehicles are also registering with Drivezy to make money.
Drivezy – Business Model and Revenue Model
The Drivezy business model works on commission. Drivezy lets the vehicle owners list their vehicles on their mobile applications. The company takes roughly 20-25% of the revenue pooled from renting this vehicle.
The first and foremost hurdle for Drivezy was the trust issues amongst the vehicle owners. They wouldn’t just rent their cars to random strangers. Though Drivezy provides guarantees, aggregator model, a peer-to-peer sharing model, and background checks of the users, this is a major challenge in the Indian markets.
The second hurdle was difficulty in leasing and buying of cars due to the financial problems.
With the onslaught of the coronavirus pandemic, most of the businesses that relied on transport and communication, and mobility found themselves on unstable grounds. Drivezy is not an exception and therefore, after bearing with the economic downturn for over a year, the Bengaluru-based car and bike rental startup has finally decided to be acquired by Yamaha. The size of the acquisition will range between $45-50 million, as per reports.
Drivezy – Competitors
Drivezy cars kind of operates in a perfectly competitive market. There’s immense competition in the market with major players having massive market standing. Drivezy in totality competes with taxi aggregators and ridesharing startups like Ola, Uber, Bounce, LetsRide, PoolCircle, ZoomCar, Carzonrent, Wunder, and Ryde among others.
Drivezy – Funding and Investors
When it comes to funding, Drivezy has raised a total of $149.3M in funding over 10 rounds from various investors including Das Capital, Axon Partners, IT-Farm, Yamaha Motor Ventures, and Y Combinator, among others.
Here is a list of all the funding rounds of Drivezy:
Date
Stage
Amount
Investors
August 2015
Angel Round
$1 million
Anirudh Damani, Alok Mittal, Niraj Singh
November 2015
Seed Round
$2 million
–
March 2016
Series A
$400K
Dheeraj Jain
August 2016
Venture Round
$120K
Y Combinator
November 2016
Venture Round
$3 million
Susa Ventures, Kima Ventures, Axon Ventures, SCM Holdings and ITFarm from Japan
October 2017
Venture Round
$10 million
Das Capital
February 2018
Initial COin Offering
$5 million
Susa Ventures, Kima Ventures, Axon Ventures and other exiting investors along with other HNIs from Japan and Singapore
April 20, 2018
Second Round of Initial COin Offering
$8 million
Susa Ventures, Kima Ventures, Axon Ventures and other exiting investors along with other HNIs from Japan and Singapore
November 2018
Series B
$20 million
IT-Farm, Das Capital, Yamaha
November 2018
Debt Financing
$100 million
AnyPay
The company, since inception, had raised total funding of $49.45 million before closing the huge asset financing deal. In 2018, Drivezy secured $100 Mn in an asset financing deal with which the Drivezy team plans to induct close to 50,000 vehicles. The company had raised an amount close to $149.3 million.
The company’s tagline is “Drive It Like You Own It!”
Drivezy Logo
As pioneers in the Indian self drive car rental industry, the company believes in the mantra- “Why buy a car, when you can rent one?”.
Drivezy – Growth
Drivezy’s growth is coming at what seems to be a key inflection point for the transportation industry. The company claims to have a customer base of about 1.5 million registered users and with around 93% of them coming from the 18-35 age bracket. Cofounder Ashwarya Singh told that it has processed over 4 lakh bookings, and has 500 employees in 11 cities.
Operating cities- 21 cities of India
Average monthly customers- 2,00,000
Average monthly pending requests- 2300
Average monthly revenue- $150,000
Average monthly GMV- $950,000
The company earns a 15-30% commission for every successful transaction. In FY18, it clocked a GMV (Gross Merchandising Value) of $32 Million, growing by 200% since 2017.
Drivezy – Future Plans
Drivezy clocked gross sales of $32 million in 2018 and is targeting $80 million in 2019. Besides this, the company plans to launch in the US by starting with a fleet of 200 cars in San Francisco. Drivezy also plans to lunch its operations in Southeast Asia soon.
Frequently Asked Questions – FAQs
How does Drivezy work?
Car owners can list their vehicles on Drivezy when they are not using it and the customers can rent it whenever they want toand they will be required to pay a nominal amount for every km travelled. The user will get the vehicle with full fuel tank and He/She has to return it with the same fuel level.
How much can I earn with Drivezy?
Drivezy claims that owners can earn up to INR 30,000/month by leasing out their vehicles.
Who are the Drivezy owners?
The Drivezy founders are Abhishek Mahajan, Amit Sahu, Ashwarya Pratap Singh, Hemant Kumar Sah, and Vasant Verma.
“If you want to walk fast, walk alone. But if you want to walk far, walk together.” – Ratan Tata, Tata Group
Ratan Tata is a prolific investor and has made numerous investment in many Startups. His style of investment and funding are revered by many across the globe. And his investments are known to emerge as giants in their respective sectors with time. Ola Cabs is an example.
An investment from Ratan Tata gives a boost to startups in terms of publicity, acquiring finances, and brand-building. Here is a list of the startups that Ratan Tata has funded over the years. Consequently, the behemoth organization of Ratan tata – Tata Group has also infiltrated a number of markets such as telecom, software, groceries, and fashion.
Latest News
22 April, 2021 – Ratan Tata has recently made an undisclosed amount of investment in Mailit which is a Mumbai based logistics startup serving a lot of big corporates including Tata Motors, ICICI Bank, HDFC Bank, etc.
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The Recent investment by Ratan Tata was in 2021, as he invested in Mailit, a technology-driven mailroom management and logistics company. The terms of the investment are undisclosed but it comes at at a time when Mailit is planning to launch 500 mailrooms across India in addition to establishing fully mechanised warehouses and distribution centres in the next five years.
Tork Motors
Tork motors | Ratan Tata Investment
Tork Motors is a Pune-based electric motorcycle startup. Ratan Tata invested an undisclosed amount in Tork Motors in October 2019. He saw potential in the company and found the team to be commendable. Apart from Ratan Tata, Bharat Forge and Bhavish Aggarwal (Ola Cabs’ founder) have also invested in Tork Motors.
Snapdeal
Snapdeal | Ratan Tata Investment
Snapdeal is India’s first online marketplace for multiple categories. It has received funding from Ebay and Alibaba. Snapdeal was launched by Kunal Bahl and Rohit Bansal in February 2010. It has over 3 lakh sellers and hosts over 3 crore products across 800+ diverse categories from more than 1,25,000 regional, national, and international brands and retailers.
Ratan Tata made an investment in Snapdeal soon after Flipkart’s acquisition of Myntra. He bought 256 shares from the e-commerce venture’s angel investors. This move not only protected Snapdeal from losing market share but also prevented any potential attempt by Flipkart to monopolize the e-commerce segment.
Cure.fit is a health and fitness startup that has raised $170 million from investors like Accel Partners, Kalaari Capital, Chiratae Ventures, and Ratan Tata to date.
Cure.fit maintains a chain of fitness centers (under the ‘Cult.fit’ brand), a food delivery platform called ‘Eat.fit’, a chain of healthcare clinics called ‘Care.fit’, and the recently launched online mental-wellness platform called ‘Mind.fit’.
Paytm started out as a mobile recharging platform and later became an online marketplace for multiple categories. It became India’s first payment bank after receiving a license from the Reserve Bank of India (RBI). Ratan Tata Made an investment in Paytm by raising a funding of INR 1 crore in March 2015 for One97 Communications – the parent company of Paytm. This funding fetched him the position of a business advisor on One97 Communications’ board.
Paytm is now among the most successful digital payment companies with millions of subscribers. It thrived when the demonetization scheme was implemented in India in November 2018. At present, the company’s gross merchandise value (GMV) is over $1 billion.
Ola is India’s first home-grown cab aggregator service and one of the nine Indian unicorn startups valued at $5 billion. The app allows users to book a taxi on their smartphone at the best fares. Ola provides cab services across price segments that range from economy to luxury.
Ratan Tata funded Ola in July 2015, 5 years after the company began its operations in 2010. He invested INR 95 lakhs in the company in personal capacity. Ratan Tata made also an investment through his investment company – RNT Capital Advisors – of INR 400 crores in Ola.
Repos Energy
Repos Energy | Ratan Tata Investment
Aditi Bhosale Walunj and Chetan Walunj founded Repos Energy. Repos Energy is a Pune-based startup responsible for the doorstep delivery of fuel to industries. It works using cloud-based technology and IoT devices. Customers can order diesel on the Repos app. A Repos petrol pump operator then arrives at the customer’s location and completes the diesel delivery. Ratan Tata made an undisclosed amount of investment in this startup.
ClimaCell
Climacell | Ratan Tata Funded Startup
ClimaCell is an app developed by Rei Goffer, Shimon Elkabetz, and Itai Zlotnik that provides accurate weather forecast to alert people about upcoming floods. It uses day-to-day devices as environmental sensors. ClimaCell focuses on error-free weather predictions and has garnered a lot of attention.
Ratan Tata participated in ClimaCell’s seed round funding in September 2016. ClimaCell has acquired $70 million over three rounds of funding.
Abra
Abra Logo | Ratan Tata Investment
Ratan Tata has also made an investment in a Silicon Valley based bitcoin startup with American Express where he with American Express invested $12 million in Abra. People can store digital cash and send money to any smartphone using Abra’s app. Abra earns money when users buy or sell digital currency through its app.
CarDekho
CarDekho Logo | Ratan tata Funded Startups
CarDekho is India’s leading car search venture that helps users purchase the right cars. Ratan Tata invested an undisclosed amount in GirnarSoft – the parent company of CarDekho, BikeDekho, and PriceDekho portals.
The CarDekho app has rich automotive content that includes expert reviews, detailed specs and prices, comparisons, and the visuals of the different car brands and models available in India.
The company deals with many automobile manufacturers, more than 4000 car dealers, and numerous financial institutions to facilitate the purchase of vehicles. The CarDekho portal accounts for about 30% of the automobile manufacturers’ combined annual sales today.
Holachef
Hola Chef | Ratan tata Funded Startups
Holachef was founded by Saxena and Anil Gelra in 2014. Holachef connects expert chefs with consumers via its website and mobile app (available for both Android and iOS platforms). The platform offers a new menu everyday and delivers food in a state-of-the-art packaging. Holachef received an undisclosed amount of investment from Ratan Tata in September 2015.
Ola-owned food delivery firm Foodpanda has acquired Holachef.
FirstCry is a baby care e-commerce platform. FirstCry is owned by BrainBees Solutions. It follows an omni-channel strategy of selling through online and offline stores. Ratan Tata invested an undisclosed amount in this startup in January 2016.
Lenskart
Lenskart Logo | Ratan Tata Funded Startup
Lenskart is a popular online retailer for eyewear. It was also been added to the list of companies invested by Tata as it secured funding from Ratan Tata in April 2016; the amount is undisclosed.
Lenskart sells sunglasses, eye glasses, contact lenses, and more. The officials from Lenskart said that Ratan Tata’s role was more of a mentor and an advisor than a financial investor. Some of the investors in Lenskart are TPG Group, IDG Ventures India, and Unilazer Ventures founder Ronnie Screwvala.
NestAway
nestaway logo | Ratan Tata Funded Startups
NestAway allows users to find, book, and move-in to a rental home of their choice across Indian cities. NestAway’s aim is to provide better rental solutions with the help of design and technology. The company presently caters to more than 35,000 tenants and 16,000 owners, providing homes to over 7000 families in cities like Delhi, Gurgaon, Hyderabad, Pune, Mumbai, Bengaluru, and others. Ratan Tata invested an undisclosed amount in NestAway Technologies Pvt. Ltd. in December 2017.
Urban Ladder is an online furniture seller. Urban Ladder was founded by Ashish Goel and Rajiv Srivatsa in July 2012. It currently offers over 1,000 products across 25 furniture categories such as wardrobes, beds, sofas, dining tables, and coffee tables. The online retailer secured funding from Ratan Tata in November 2015.
UrbanCompany
Urban Company Logo
UrbanCompany, previously known as UrbanClap, is a local services marketplace that raised an undisclosed amount in funding from Ratan Tata in December 2015. It is also funded by Snapdeal founders Kunal Bahl and Rohit Bansal.
The UrbanCompany app allows the online booking of services such as plumbing, electric work, beauty treatments, and salon. UrbanCompany has successfully penetrated the services sector and bridged the gap between workers and consumers. People can now easily overcome the challenges of household hurdles, troubles, fixtures, and anything related through UrbanCompany.
GOQii
Goqii Logo | Ratan tata funded Startups
GOQii makes healthcare watches that are similar to smart watches. It also makes GOQii Stride, a device people can attach to their shoes and keep track of the number of steps, etc. GOQii’s platform provides tools for real-time personalized coaching, scheduling health check-ups, and securing information in a health locker. GOQii was founded in 2014 by Vishal Gondal. It joined the list of Ratan Tata-backed startups after he invested an undisclosed amount in October 2016.
This might come across as an interesting trivia—Ratan Tata is the first Indian to buy a stake in Xiaomiandhe has also made an undisclosed amount of investment in the company. Xiaomi is the world’s fourth largest smartphone manufacturer and is based out of China. The brand is very popular in India. It entered the Indian market in 2014. The Chinese tech giant sells smartphones, laptops, air purifiers, tablets, LED TVs, fitness bands and more.
Some senior executives from Xiaomi were quoted saying that they would seek Ratan Tata’s advice on how to expand globally.
Lybrate
Lybrate Logo | Ratan Tata Funded Startups
Lybrate was founded in 2013. It connects patients and doctors. Lybrate launched an online lab testing facility in May 2016. A patient’s sample is collected right from his or her home and the results are then shared online. Lybrate secured about INR 64.8 crores ($10.2 million) funding from Ratan Tata in July 2019.
Infinite Analytics is a U.S. and Mumbai-based startup founded by two MITians – Akash Bhatia and Purushotam Bolta. It became Microsoft Dynamics AX’s first global OEM partner four months after Ratan Tata has also made an investment in this startup in August 2015.
Infinite Analytics is a cloud-based big data startup that predicts consumer behavior based on information shared by users on social networking sites. Infinite Analytics analyses raw data, maps out a person’s social genome, and then gives personalized recommendations to consumer brands with online presence. This information, which is collected without breaking privacy laws, allows a retailer to identify and recommend products that will appeal to customers. Infinite Analytics has expanded its predictive analytics technology to verticals beyond retail and e-commerce.
CashKaro
Cashkaro Logo | Ratan Tata Funded Startups
CashKaro is a cashback and coupons website that provides 30% cashback to customers who shop on its affiliates’ platforms. These platforms include Amazon, Paytm, Jabong, and ShopClues. The Gurgaon-based company was founded by Swati and Rohan Bhargava in 2013 and raised an undisclosed amount in Series A funding from Ratan Tata in January 2016.
Cashkaro generates revenue by taking commission from retailers and sharing a portion of it with customers in the form of cashback. It is the largest cashback website in India with over 10 lakh registered users and has given net cashback of more than INR 30 crores.
DogSpot
Dogspot Logo | Ratan Tata funded Startups
DogSpot is a Gurgaon-based online pet care platform that handles about 60,000 orders on a monthly basis with an average basket size of INR 1,700. DogSpot also promotes pet-centric events, drives, and related content. The startup was founded in 2007 and is run by PetsGlam Services Pvt. Ltd.
Ratan Tata invested an undisclosed amount in his personal capacity in DogSpot in January 2016. Ronnie Screwvala also invested in DogSpot alongside Ratan Tata.
BlueStone
Bluestone Logo | Ratan Tata funded Startups
Bluestone.com is an online platform for purchasing jewelry. BlueStone was founded by Gaurav Singh Kushwaha in 2011. BlueStone is backed by Ratan Tata and has also received a funding from him in 2014. It offers over 5,000 jewelry designs and plans to scale to 30,000 designs in the next three years.
Zivame
Zivame Logo | Ratan Tata funded Startup
Bangalore-based Zivame was founded in 2011 by Richa Kar and Kapil Karekar. Zivame is an online platform for one’s lingerie needs. It has raised $48 million in four years. The startup gained popularity through its quirky campaigns and is a well-known name today. Zivame received funding from Ratan Tata in September 2015.
Generic Aadhaar
Generic Aadhaar | Ratan Tata funded Startup
Ratan Tata has invested undisclosed amount in Generic Aadhaar, a Maharashtra-based pharmaceutical startup. Arjun Deshpande founded Generic Aadhaar in 2018. Generic Aadhaar provides generic medicines from reputed pharmaceutical companies at discounted rates—up to 80% cheaper than the retail price. It offers a catalog comprising branded, generic, homeopathy, and Ayurveda medicines from government-approved manufacturing facilities.
Generic Aadhaar aims to partner with 1000 pharmacies through a franchisee model in the coming months and expand its reach to places like Tamil Nadu, Andhra Pradesh, New Delhi, Goa, Rajasthan, and Gujarat.
What are the names of some Ratan Tata funded startups?
Some startups funded by Ratan Tata are Ola cabs, Zivame, Paytm, Snapdeal, Xiaomi, Urban Ladder, UrbanCompany, Cash Karo, and Abra.
What sector does Ratan Tata like to fund in?
Ratan Tata does not prefer any specific sectors. He has funded startups in sectors ranging from e-commerce and real estate to electric mobility and food delivery.
With the tension escalating at the Indo-China border, the Chinese-funded companies in India are currently at risk. The people of India are now boycotting Chinese manufacturers and organizations that sell their products in India. As a result, Indian startups funded by Chinese investors are also facing severe backlash.
Among India’s top 30 companies and startups (entrepreneurial ventures worth over $1 billion), 18 have received funding from the Chinese.
Chinese investors are quick in identifying the potential in Indian startups. They find investing in India enticing because India has an attractive risk-return trade-off and remains the second-fastest growing economy in the world. Chinese investors have funded over 18 Indian unicorns; it amounts to around $3.9 billion in investment in 2019. But the growing conflict between the two countries is making it challenging for these unicorns to receive further investment capital from China.
BigBasket is an Indian online grocery delivery service. Alibaba invested in BigBasket in 2018. The investment assists BigBasket in competing with the US-based Amazon and India’s Flipkart. The company’s valuation exceeded $1 billion with the help of Chinese investment. The decision to boycott Chinese products affected BigBasket in several ways.
Dailyhunt
Chinese Investor: Alibaba
Dailyhunt – Chinese Investment In India
Dailyhunt is one of the fastest-growing startups in this list. Dailyhunt is an Indian news content aggregator. It is considered as one of the world’s top mobile applications for staying abreast of the latest happenings across the globe. With 22 million users and 30 billion page views per month, Dailyhunt has indeed cemented its status in the Indian startup ecosystem. Alibaba holds an investment in Dailyhunt.
Healofy
Chinese Investor: Ant Financial
Healofy – Chinese Investment In India
Healofy is India’s largest women-oriented social network; it helps women connect with other women. Healofy raised $1 million in seed fund from Omidyar Network in 2018. Healofy then received $8 million in fresh funding from Alibaba-backed parenting platform BabyTree Group and BAce Capital, a fund anchored by Alibaba’s Ant Financial.
Paytm Mall
Chinese Investor: Alibaba
Paytm Mall – Chinese Investment In India
Paytm launched the Paytm Mall app in Feb 2017. Paytm Mall follows a business to consumer model. It is an e-commerce platform that allows consumers to shop from 1.4 lakh registered sellers. Alibaba invested in Paytm Mall for a 40% stake but refused to fund Paytm Mall further. Paytm is one of the biggest e-commerce organizations to be featured in this list of Chinese-funded companies in India.
Paytm
Chinese Investor: Ant Financial
Paytm – Chinese Investment In India
Paytm is an Indian e-commerce payment system and financial technology organization. Paytm was valued at $10 billion in January 2018. Paytmvaluation was $16 billion in 2021. Ant Financial has become the largest shareholder in One97 Communications, the parent company of Paytm, by investing $680 million.
TicketNew
Chinese Investor: Alibaba
TicketNew – Chinese Investment In India
TicketNew is a privately owned company that provides online ticket booking services for movies, theatre plays and sports. Chinese e-commerce giant, Alibaba has reportedly provided over $30 million in funding to TicketNew and has acquired the ticket booking platform..
Vidooly
Chinese Investor: Alibaba
Vidooly – Chinese Investment In India
Vidooly is an online video analytics and marketing company. It provides video analytics tools and video marketing services. Vidooly raised over INR 15 crores from the Alibaba group.
XpressBees
Chinese Investor: Alibaba
XpressBees – Chinese Investment In India
XpressBees is an e-commerce logistics firm that offers delivery, order management, shipping, and tracking services. Founded in 2015, XpressBees secured over $35 million in funding from Alibaba in 2017. Again in 2019, the e-commerce giant invested $10 million in the logistics starteup.
Snapdeal
Chinese Investor: Alibaba
Snapdeal – Chinese Investment In India
Snapdeal is an Indian e-commerce behemoth. Snapdeal received over $500 million in funding from three of Asia’s largest tech companies: Alibaba, Foxconn, and SoftBank. Snapdeal is another e-commerce giant that made it to this list of Chinese-backed companies in India.
It is an Indian restaurant aggregator and food delivery start-up that provides information, menus, and user-reviews of restaurants. Zomato also offers food delivery options from partner restaurants. Zomato has raised over $150 million from Alibaba.
BYJU’s
Chinese Investor: Tencent
BYJU’S – Chinese Investment In India
BYJU’S is an Indian educational technology (edtech) and online tutoring firm. It is considered as the largest ed-tech company in the country as well. Tencent, one of Asia’s largest valued Chinese tech company investor, has invested in Byju. The amount invested on the ed-tech was undisclosed.
Ola
Chinese Investor: Tencent
Ola – Chinese Investment In India
Ola Cabs is an Indian ride-sharing company offering services that include peer-to-peer ridesharing, ride service hailing, taxi, and food delivery. Ola was founded by Bhavish Aggarwal and Akit Bhati. Ola raised over $1.1 billion in funding from Tencent.
Doubtnut
Chinese Investor: Tencent
Doubtnut – Chinese Investment In India
Another ed-tech company, Doubtnut is an Indian online tutoring platform. Doubtnut operates as an e-learning platform that enables users to ask questions related to Physics, Chemistry, and Math. Tencent provided over $15 million funding to Doubtnut in the year 2020..
Dream11
Chinese Investor: Tencent
Dream11 – Chinese Investment In India
Dream11 is a fantasy sports platform that allows users to play fantasy cricket, hockey, football, kabaddi, and basketball. Tencent has a $100 million investment in Dream11 in the year 2018. Dream11 has become the first Indian gaming company to enter the unicorn club.
Flipkart
Chinese Investor: Tencent
Flipkart – Chinese Investment In India
It is an Indian e-commerce company based out of Bangalore, India. Flipkart was founded in 2007 and has been one of the e-commerce giant in India by serving . Chinese investor Tencent Holdings have invested more than $300 million in Flipkart.
Niyo
Chinese Investor: Tencent
Niyo – Chinese Investment In India
Niyo is one of India’s largest and fastest-growing fintech ventures with the vision of making banking simple, smart, and transparent for everyone. Niyo got its funding from Tencent, although the amount raised were not disclosed to the public.
Gaana
Chinese Investor: Tencent
Gaana.com – Chinese Investment In India
It is the largest Indian commercial music streaming service. Gaana.com was founded in 2012. Gaana raised over $115 million from the Chinese internet giant Tencent. Again in 2020, Tencent invested $50 million and in 2021 another $40 million on the music streaming app.
Khatabook
Chinese Investor: Tencent
Khatabook – Chinese Investment In India
Khatabook is a mobile app targeted towards small shopkeepers and kirana store owners in India. Khatabook app helps them manage their books by tracking the money owed to them through the means of a digital ledger. Tencent has invested over $75 million in Khatabook app.
MX Player
Chinese Investor: Tencent
MX Player – Chinese Investment In India
MX Player is an entertainment app that offers its viewers quality, digital-first content, it is a very popular OTT service in India for giving access to many exclusive content to it audinence. MX Player gained popularity as an Indian OTT platform. Tencent has invested over $11q million in MX Player in the year 2019.
MyGate
Chinese Investor: Tencent
MyGate – Chinese Investment In India
MyGate is an India-based security and community management app for gated premises. The security management startup raised an undisclosed amount from Chinese tech company Tencent in the year 2019.
Pine Labs
Chinese Investor: Tencent
Pine Labs – Chinese Investment In India
Pine Labs is an fintech startup and an Indian merchant platform company. Pine Labs provides financing and last-mile retail transaction technology through its help your business can accept different modes of payment. Tencent has invested and undisclosed amount in Pine Labs.
Pocket FM
Chinese Investor: Tencent
Pine Labs – Chinese Investment In India
Pocket FM is a social audio platform for Indian languages where users can find great quality audio content comprising audiobooks, stories, and podcasts. Tencent invested in this entertainment app, although the amount invested was not disclosed to the public.
Practo
Chinese Investor: Tencent
Practo – Indian Companies with Chinese Investment
It develops and distributes medical information systems. Practo Technologies Private Limited offers an online software platform that provides automated appointment scheduling, billing solutions, and storage of medical records. Practo raised over $55 million from Tencent.
Swiggy
Chinese Investor: Tencent
Swiggy – Indian Companies with Chinese Investment
Swiggy is one of the most popular a food delivery company in India. Swiggy is one of the unicorn in India and in fact, it is also India’s fastest unicorn. In 2018, Tencent invested on Swiggy again in 2020, Swiggy got a good amount funding from Tenvcent. Both the times, the amount is not diclosed.
Udaan
Chinese Investor: Tencent
Udaan – Indian Companies with Chinese Investment
Udaan is a network-centric B2B trade platform designed specifically for small and medium-scale businesses in India. Udaan brings traders, wholesalers, and retailers into one place. Udaan raised funds from Tencent,the amount invested was not diclosed.
Hungama Digital Media Entertainment Pvt. Ltd
Chinese Investor: Xiaomi
Hungama Digital Media – Indian Companies with Chinese Investment
Hungama Digital Media Entertainment serves as an aggregator, developer, publisher, and distributor of Bollywood and Asian entertainment. Xiaomi made its first investment in an Indian company by pouring $25-million in Hungama Digital Media Entertainment.
Marsplay
Chinese Investor: Xiaomi
Marsplay – Indian Companies with Chinese Investment
Marsplay is an online platform that allows users to discover and share fashion and beauty tips. Marsplay Internet Private Limited, the parent company of Marsplay, raised funding from Xiaomi in 2018, although the exact amount was not disclosed.
Oye! Rickshaw
Chinese Investor: Xiaomi
Oye! Rickshaw – Indian Companies with Chinese Investment
Oye! Rickshaw is an electric rickshaw mobility platform that connects driver-partners and users. The best part is it is environment-friendly and is on a mission to make people commute without any problem. Oye Rickshaw raised an undisclosed amount of funding from Xiami in 2020.
ShareChat
Chinese Investor: Xiaomi and ShunWei Capital
ShareChat – Indian Companies with Chinese Investment
ShareChat is an Indian Social networking service, and it was incorporated on January 8, 2015. The main attraction of this app is that it support over 15 languages. ShareChat raised funds from Xiaomi and ShunWei Capital, a Chinese venture capital firm. Both the investment amount was not disclosed
ZestMoney
Chinese Investor: Xiaomi
ZestMoney – Indian Companies with Chinese Investment
ZestMoney is the largest and fastest-growing consumer lending fintech company in India. ZestMoney’s platform enables instant approval and disbursal of small-ticket loans. Xiaomi invested an undisclosed amount in ZestMoney in 2018.
OYO
Chinese Investor: Didi Chuxing
OYO – Indian Companies with Chinese Investment
OYO, the multinational hospitality chain is famous for its budget rooms and it is considered the biggest network of hotels in India. It is also spread in more than 199 cities and serves its people. In the year 2019. Didi Chuxing a transport company invested $100 million in OYO.
PolicyBazaar
Chinese Investor: Tencent
Policy Bazaar – Indian Companies with Chinese Investment
Policy Bazaar is a company that provides online life insurance and general insurance. The Indian multinational fintech company has been here for 14 years and has been serving people. Tencent invested $150 million in PolicyBazaar in the year 2019.
Delhivery
Chinese Investor: Fosun
Delhivery – Indian Companies with Chinese Investment
This Indian logistics and supply chain company’s main service is to transport parcels and provide third-party logistics for e-commerce companies. In the year, 2017 Fosun, a Cho9nese conglomerate company invested $3o million in Delhivery.
FAQs
How many Chinese companies are there in India?
There are 105 Chinese companies in India.
Is BigBasket funded by China?
BigBasket is an Indian online grocery delivery service. Alibaba invested in BigBasket in 2018. The investment assists BigBasket in competing with the US-based Amazon and India’s Flipkart. The company’s valuation exceeded $1 billion with the help of Chinese investment.
Is flipkart funded by China?
Flipkart is an Indian e-commerce company based out Bangalore, India. Chinese investors like Tencent Holdings and Steadview Capital have invested more than $300 million in Flipkart.
Is Paytm owned by China?
Paytm launched the Paytm Mall app in Feb 2017; Paytm Mall follows a business to consumer model. It is an e-commerce platform that allows consumers to shop from 1.4 lakh registered sellers. Alibaba invested in Paytm Mall for a 40% stake but refused to fund Paytm Mall further.
What are the Chinese Investment Companies in India?
Top Chinese Investment Companies in India are:
Tencent
Alibaba
Xiaomi
How many Chinese companies are listed in Indian stock market?
There are a total of 16 Chinese FPIs registered in India.
What are the top companies that received funding from Chinese company in India?
Top companies that received funding from Chinese company in India are:
Shubham Kumar
