“They had an idea which could disrupt the market and make an impact. They left their jobs, worked hard and created history”.
“It isn’t the consumer’s job to know what they want” – Steve Jobs
India a young nation who’s the average age group is 29 years, is witnessing a significant growth in its startup ecosystem. These startups who are making their presence felt both domestically and internationally. Their inspiring stories have paved the roads for all budding entrepreneurs and inspiring many young brains to work on their own ideas to create more employment.
The government of India also initiated Startup India program for budding entrepreneurs.
The listing below the most successful running startup stories which brought in a new stream of energy in the Indian startup ecosystem.
Paytm is an Indian electronic payment digital wallet and e-commerce company based out of Delhi NCR, India. The company founded in August 2010 by Vijay shekhar sharma.
The entrepreneur journey started in 2000 with one97 communications limited which use to provide news, cricket scores, ringtones and jokes, the birth of Paytm took place in 2010, Paytm today is India’s largest mobile payment services platform and also received license from RBI for India’s first payments banks, called “Paytm Banks Limited”
Paytm has over 150 million wallets and 75 million Android-based app downloads. Started as a prepaid mobile recharge website, its founder Sharma related how he was inspired by a visit to China when he saw vegetable vendors using their mobile phones to receive payments from some customers. This led to him establishing Paytm wallet in 2013 and there was no turning back. As of today, Paytm received investments from large corporates like Alibaba and also has invested in fellow fast-growing start-ups.
Flipkart! Many people call it as an Indian Amazon. Walmart has owned around 77% of shares from this Bengaluru-based firm.
Flipkart is India’s leading e-commerce marketplace offering over 30 million products cross 70+ categories including Books, Media, Consumer Electronics, and Lifestyle. They are the only online player offering delivery services such as In-a-Day delivery Guarantee across 50 cities and Same-Day-Guarantee across 13 cities.
Flipkart achieved massive success a few years back owing to its first-mover advantage in the online market in India. Sachin and Binny Bansal, both IIT-D alumni, worked with Amazon before, thus they introduced a similar concept into the Indian market. They started with books in 2007 and now sell almost everything, from personal care to jewelry, CDs to stationery. It acquired Myntra, an online fashion brand for around INR 2000 crore.
Flipkart.com has made it to the top five global billion-dollar start-up club with a valuation of $11 billion, according to the Wall Street Journal and Dow Jones Ventur Source report.
ANI Technologies Pvt. Ltd. stylised as OLA, an Indian origin online network and aggregator for day-to-day transport. Ola founded by an IIT Bombay Alumni called Bhavish Aggarwal and Ankit Bhati in December 2010, which has become India’s most popular mobile app for transportation.
Ola’s unique selling point lies in understanding the local dynamics and creating solutions specifically for the Indian market conditions. Launching e-rickshaws, auto-rickshaws, Ola Micro and shared mobility solutions like Ola Share and Shuttle are few of the recent examples in this direction which has hit the market very hard. Given its ‘Made for India’ focus, it has a definitive advantage of innovation and hyper-local execution.
Makemytrip Inc. is an Indian online travel company, founded by Deep Kalra in 2000. Headquartered in Gurgaon, Haryana, the company provides online travel services like flight tickets, domestic and international holiday packages, hotel reservations, rail and bus tickets, etc. The company has been recognized as one of India’s best travel portals. In addition to a full-service online portal, the company also operates 65 retail stores across 50 cities in India, along with international offices in New York City and Sydney.
Deep Kalra, CEO, and Founder of MakeMyTrip says, “When we launched Makemytrip in India the idea was to be the defining place, the defining portal for people to travel to India, from India and within India. The market in India was ready to browse, but not to buy. We called it lots of lookers but very few bookers. So we actually focussed by default only on the inbound market.”
ShopClues is India’s first and the largest managed marketplace, clocking more than 100 million monthly visitors on its website. Founded in July 2011 in Silicon Valley, with 5cr listed products and over 500000 + merchants, ShopClues aims to provide the best online shopping experience to its customers, starting from the great selection, low price, ease of use, fast delivery, and best customer service.
Radhika Agarwal, Chief Business Officer, and Co-founder say, “When we started ShopClues, one thing was very clear that India has no experience with the e-commerce. Trust online was much lower than what we would see in more developed countries. The merchants have not been exposed to internet commerce, the consumers were also not exposed to internet commerce. Our belief was that for merchants to bring merchants online and to bring the business online, we have to do a lot of handholding of the merchants, give them the tools the technologies, enable them, empower them, so that, through them, we will be able to give a great experience to our consumers”
OYO is India’s largest branded network of hotels founded by Ritesh Agarwal, India’s first graduate of the Thiel Fellowship, a program started by Paypal founder, Peter Thiel. OYO currently operates in India & Malaysia with over 200+ locations including Delhi, Gurgaon, Mumbai, Bangalore, Hyderabad, Goa, Chennai, Kolkata and Kuala Lumpur. OYO’s presence includes major metros, regional hubs, top leisure destinations, as well as pilgrimage towns.
Ritesh Agarwal dropped out of college and launched his first start‐up Oravel Stays Pvt. Ltd. in the year 2012. Oravel was designed as a platform to enable listing and booking of budget accommodation. Being an avid traveler, he soon realized that the budget hospitality sector lacked predictability. Therefore, he pivoted Oravel to OYO Rooms in 2013 with the key proposition of offering affordable and standardized accommodation.
Zomato is a restaurant search and discovery app, providing in-depth information for over 1 million restaurants across 23 countries. Zomato is used by consumers globally to discover, rate, and review restaurants, as well as create their own personal networks of fellow food enthusiasts for trusted recommendations.
In addition to restaurant search and discovery, Zomato has expanded its offering to include transactions – Online Ordering, Table Reservations, and Point-of-Sale system, creating cutting-edge technology to connect restaurant businesses and customers in ways that will revolutionize the restaurant industry.
Launched in 2008, Zomato hasn’t been anything less of a sensation. It covers over 331,200 restaurants in 19 countries. Started as Foodiebay.com, in two years, it was named the most promising internet companies in India. In another two years, it went on to get international recognition. Deepinder Goyal and Pankaj Chaddah, the co-founders always wanted to create their own path, a path with its own obstacles.
redBus.in, acquired by Ibibo, is the India’s largest online bus ticketing website with the largest network of bus operators 1800+ and growing) and satisfied customer bookings up to 80,000 tickets a day. They provide over 67000+ live routes across India. redBus also hosts sizeable bus seat inventory from state road transport corporations.
redBus has been recognized as an innovative organization that revolutionized the bus travel industry and was Awarded as top 50 Global innovators by Fast Company. This start-up achieved success for its innovative idea of making bus ticket booking easier for the common man. Phanindra, Sudhakar and Charan, the budding entrepreneurs from BITS Pilani initiated this idea when one of them couldn’t go home for Diwali because he didn’t get a bus ticket. All of them were working for reputed MNCs at that time; It was a huge risk for them to start redBus.in. That risk, however, paid off and the rest, as they say, is history.
Sridhar Vembu, CEO of Zoho Corp, co-founded AdventNet in 1996, which is now famous for its Zoho online application suite, is a technology company based in California with development offices in India which provide SAAS services. The company has transformed itself from being a software company serving network equipment vendors to being an innovative applications platform.
Sridhar grew up in a very modest, middle-class family in Chennai, where both his parents were not even college graduates.
Zoho Corp today has various Zoho Corporation Partner program across the world and its revenues are believed to be a quarter of Salesforce.
iD Fresh Food, a Rs 100 crore turnover ready-to-cook packaged food company in Bengaluru that makes idly and dosa batter, ‘just heat’ parotas and chapattis, and curd and paneer. The company, which made 10 packets of one kilogram batter a day in 2005, manufactures 50,000 packets a day now and has grown into a team of 1,300 employees who work at their units in Bengaluru, Chennai, Pune, Mumbai, Delhi, Hyderabad and Dubai
iD Fresh Food, a private limited company, was founded in 2005 by Mustafa and his four cousins – Abdul Nazer, Shamsudeen TK, Jafar TK and Noushad TA. Mustafa holds 50 percent share in the company and his cousins hold the rest. As of today, the total investment for iD Fresh Food is around Rs 4 crore (Rs 40 million) and revenue is Rs 100 crore (Rs 1 billion).
Practo, a health tech company with the motto of #DoGreat is prospering greatly with 2,00,000 doctors and 20 million patients across the world has kick-started its journey in the year 2008 from Bengaluru by two NITians Shashank and Abhinav Lal.
Practo is the perfect example of “In the middle of difficulty lies opportunity” because the idea of PRACTO was initiated from the difficulties Shashank faced concerning his father’s health. Practo, a product of Naabo solutions, became the Home for health by its hassle-free solutions for doctor appointments, delivery of medicine at the doorstep, online consultation with their registered doctors along with online appointment booking software for doctors to manage their clinics.
Practo in collaboration with ICICI Lombard launched an app “IL Take-Care” for the cashless consulting for the health insurance.
Zivame, an online lingerie business has been ushered in the Indian market by Richa Kar, a BITsian in the year of 2011 with the vision of “Offering every woman the confidence, comfort and choice she deserves”. Richa while working in her previous job, got a chance to explore the profits available in India in lingerie market. Zivame won brownie points from it’s customers by including unique features of all women customer care to ease the customer issues, Availability of Plus sizes, Virtually checking the fit,
Size calculator and wide availability of brands across the world. The website also included loungewear, Swim & beach wear, Active wear and apparel for women along with its niche products range.
Geetansh started Rentomojo for providing the online rental services for furniture (only for a period of 3 months) in the year 2014. It was started with intention of providing customers with the ever evolving style without the actual investment costs for furniture. The company was funded by IDG Ventures India and Accel partners initially and in 2017, the company gained $10 million Series B funding from Bain Capital Ventures and Renaud Laplanche. Rentomojo expanded its business to renting of two-wheelers and appliances in 8 cities (Hyderabad, Pune, Mumbai, Chennai, Gurgaon, Noida, Bengaluru, Delhi) with an option of Rent-to-own model by the year of 2018. Rentomojo is offering new features to its customers like annual cleaning, free maintenance along with the subscription, swap products and many more for their convenience.
LeadSquared started its journey in the year 2012 for addressing the issues of task and lead management by marketing automation and CRM software for businesses. The company was founded by Nilesh Patel, Sudhakar Gorti, Prashant Singh, Sukhbir Kalsi and Anand Kumar. The solutions include Lead capture automation, Lead Nurturing, Sales Management, Market Analytics, Lead Management, Dynamic Content and Mobile Call center. The company has been ranked as the 5th fastest growing tech company in India by The Deloitte Technology Fast50 India 2017 awards.
The company offering its products in three pricing plans Basic, Standard and Premium. It is ensuring its customer’s data protection by encrypting all the web interacting through SSL and also all the data is stored in Amazon data centers securely.
BankBazaar, a FinTech company took its shape when the couple, Arjun shetty and Rati shetty tried to get a home loan from banks in India and couldn’t get the info in one place to decide upon which bank offers the best deal and have to wobble across the banks to get those details. So in the year of 2008, the couple along with Adhil Shetty established BankBazaar, the one destination for comparison and application of financial products in India. Financial products include Loans, Insurance, Credit/Debit cards and Investments. The company is also providing Free Credit score service for the customer with few steps.
BankBazaar started its journey in Chennai by tying up with ING Vysya and HDFC. Currently, BankBazaar is offering its services to 5,00,000 customers across 1336 cities and towns in India with 30 partners.
Success comes to those who are persistent in their efforts and has a clear vision. We at Strawberry Branding also believe that for a Start-up to be a unicorn, various factors have to play in perfect harmony and the right guidance for a long term vision definitely adds up to the success.