10 startups that are helping strong India’s position in the global digital economy.
- RazorPay: India’s first full-stack financial solutions company. It allows businesses to accept, process and pay payments using various products. Valued at $1 billion in October 2020 and $3 billion in April 2021, It is now valued at $7.5 billion.
- OYO Rooms: Once a startup, Co-founded by Ritesh Agarwal, OYO helps entrepreneurs and small business hotels by providing full-stack technology to simplify operations. The first OYO started its journey from Gurugram in 2013. The company currently offers lodging options in more than 800 cities worldwide with more than 23,000 hotels, 850,000 rooms and 46,000 vacation homes. In 2019, it was the third youngest hotel chain in the world by the number of rooms. As a unicorn, the company targets a valuation of around US$9 billion (Rs 66,700) when it goes public.
- Udaan: Amod Malviya, Sujeet Kumar and Vaibhav Gupta, are friends and founder of Udaan. It started its journey in 2016. Headquartered in Bengaluru, Udaan is a business-to-business (B2B) e-commerce platform that operates in categories such as lifestyle, electronics and FMCG. , Pharmaceuticals, Household and Kitchenware, Staples, Fruits and Vegetables, Toys and General Merchandise are valued at $3.1 billion. Udaan currently has over 3 million registered users and a network of about 30,000 merchants in over 900 cities across the country, covering over 12,000 of the PIN codes. Over 2 million retailers make over 5 million transactions each month.
- CRED: Headquartered in Bengaluru, CRED is a members-only fintech startup that rewards customers who use its platform to pay their credit card bills. Founded in 2018 by entrepreneur Kunal Shah, the company helps India’s most creditworthy individuals pay their credit card bills and earn points. As of June this year, the company’s valuation has risen to $6.4 billion.
- Purplle: Founded in 2011 by Manish Taneja and Rahul Dash, Purplle is headquartered in Mumbai. Purplle is a multi-brand beauty retailer that sells cosmetics and wellness products. It became a unicorn in June of this year. This online operator has a product range of over 650 brands with over 50,000 of his SKUs and over 300 beauty specialist sellers. It also connects to over 6,000 salons and provides detailed pricing information on the platform, helping clients make the right choice of services.
- Furlenco: Registered as Kieraya Furnishing Solutions Pvt. Ltd established in 2012 is a subscription-based online furniture rental that currently operates in 13 cities. It claims to have built over 1.7 million homes to date. The company has named movie star Aamir Khan as one of its investors and expects its turnover to double Rs 500 crore by March 2024.
- Infra.Market: Infra Market is a building solutions unicorn producing India’s largest multi-product building materials brand. Transform ecosystems by embracing technology and scaling innovation. The company has grown to be one of India’s fastest-growing and is now valued at $2.5 billion.
- Zetwerk: Bengaluru-based manufacturing unicorn Zetwerk was founded in 2018 by Amrit Acharya, Srinath Rama k krushnan, Rahul Sharma and Vishal Chaudhary. The company connects small to big original equipment manufacturers(OEM) from India and Southeast Asia with firms that require custom products and machine parts. It has more than 600 customers, and currently operating in more than 15 countries across North America, Middle East, and Indo-Pacific region.
- Skyroot Aerospace: Skyroot Aerospace builds rockets and launches payloads (satellites for present and future humans) into space. Skyroot Aerospace has been actively developing the Vikram series of launch vehicles for the past two years and plans to commercialize his Vikram-2 and 3, successors to the Vikram-1 and Roll. It is the first launch where ISRO (Indian Space Research Organization) has signed a Memorandum of Understanding (MoU) to share facilities and expertise.
- Pixxel: This startup is primarily focused on two things. It is developing technology and building infrastructure to build satellite constellations. Pixxel’s satellite constellation can provide 24-hour global coverage to detect, monitor, and predict global phenomena. The space technology startup plans to deploy the first phase of its six to eight satellites by December 2022. The entire constellation will be deployed by December 2023.
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