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Top 40 Startups in India in 2024 by Market Capitalization

Top 40 Startups in India in 2024 by Market Capitalization

Updated on 28 October, 2024

28.27K+ views

• 8 min read

In my experience, India is a fertile ground for cost-effective, grassroots, and culturally-driven innovation. With a population exceeding a billion, it's an enticing landscape for companies aiming to craft scalable business strategies.

The steady growth of the Indian economy has given rise to numerous startups, some of which have garnered recognition from consumers and international investors. The tech startup ecosystem has soared, drawing significant attention, especially in AI-focused ventures. Moreover, electric vehicle (EV) entrepreneurs propel sustainable transportation across India.

In this blog, I'll share insights into the 40 best startups in India. These companies have exhibited remarkable resilience and are poised to reach even greater heights in the future.

List of Startups in India

Here is a list of top startups in India to know in 2024:

Cred
Skit.ai
PharmEasy
Digit Insurance
Meesho
Groww
Nykaa
Udaan
Dream11
Swiggy
Instamojo
PostMan
Delhivery
Slice
InMobi
Practo
Boat
Skyroot
Aerospace
LivSpace
Vernacular.ai
PhonePe
Licious
PolicyBazaar
Razorpay
Paytm
Ola
BharatPe
1mg
Urban Company
Apna
CARS24
Bharat Biotech
Skillmatics
Rapido
KreditBee
MobiKwik
Cuemath
Xpressbees
Dunzo

Top 40 Startups in India

Source:Wikipedia

Overview	Cred is a members-only credit card management and bill payments platform that rewards users for timely bill payments.
Started in	2018
Founder	Kunal Shah
Market Value	$6.4B
Funding	$140M
Investment	GIC, Coatue Management, Insight Partners, DST Global, Greenoaks Capital, etc.
Industry	Fintech
Employee count	961
Website link	https://cred.club/
City	Bangalore

2. Skit.ai

Overview	Skit.ai is an AI-based voice automation startup offering a multichannel conversational AI platform to address the voice customer service market.
Started in	2016
Founder	Sourabh Gupta and Akshay Deshraj
Market Value	INR 121Cr
Funding	$23M in Series B funding
Investment	WestBridge Capital, Kalaari Capital, Exfinity Ventures, and others.
Industry	AI, Voice Automation
Employee count	113
Website link	https://skit.ai/
City	New York City

3. PharmEasy

Source:Justdial

Overview	PharmEasy is an online pharmacy platform providing a range of healthcare services and products.
Started in	2015
Founder	Dhaval Shah and Dharmil Sheth
Market Value	$5.6B
Funding	$328.5M
Investment	18 investors including Temasek Holdings and Bessemer Venture Partners.
Industry	Healthcare, Online Pharmacy
Employee count	3600
Website link	https://pharmeasy.in/
City	Mumbai

4. Digit Insurance

Source:Wikimedia

Overview	Digit Insurance is an insure-tech startup offering app-based insurance services for individuals.
Started in	2016
Founder	Kamesh Goyal
Market Value	$3.5B
Funding	$344M
Investment	Fidelity, Goldman Sachs, Abu Dhabi Investment Authority, Steadview Capital, SBI Mutual Fund, ICICI Prudential Mutual Fund, and Axis Mutual Fund.
Industry	Insure-tech, Insurance
Employee count	4128
Website link	https://www.godigit.com/
City	Pune

Completing beginner-level training programs do help, however advanced courses like a data science course, cloud computing course or course for PMP certification can improve your job scope since professional-level expertise is preferred in any industry.

5. Meesho

Source: Wikipedia

Overview	Meesho is an Indian e-commerce startup operating a social commerce platform.
Started in	2015
Founder	Vidit Aatrey and Sanjeev Barnwal
Market Value	$3.9B
Funding	$1.36B
Investment	SoftBank, Prosus, Elevation Capital, and Peak XV Partners.
Industry	E-commerce, Social Commerce
Employee count	3925
Website link	https://www.meesho.com/
City	Bangalore, Karnataka

6. Groww

Source: The Week

Overview	Groww is an Indian fintech startup offering investment and financial services.
Started in	2016 as Nextbillion Technology, operating under the brand name Groww from 2017.
Founder	Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal
Market Value	$3B
Funding	$251M
Investment	Iconiq Growth and others.
Industry	Fintech, Investment Services
Employee count	5000
Website link	https://groww.in/
City	Koramangala, Bangalore

7. Nykaa

Source: Entrackr

Overview	Nykaa is an Indian e-commerce platform for beauty and personal care products, known for its exclusive range of products.
Started in	2021
Founder	Falguni Nayar
Market Value	$724M
Funding	$721M
Investment	Series E funding round led by TPG Growth Capital
Industry	E-commerce, Beauty and Personal Care
Employee count	4700
Website link	https://www.nykaa.com/
City	Mumbai, Maharashtra

8. Udaan

Source: Businessinsider

Overview	Udaan is a B2B e-commerce platform in India that connects small and medium-sized businesses with wholesalers and traders.
Started in	2016
Founder	Amod Malviya, Sujeet Kumar, and Vaibhav Gupta
Market Value	$1.8B
Funding	$340M
Investment	SoftBank, Tencent, DST Global, and M&G Prudential
Industry	E-commerce, B2B Marketplace
Employee count	3000
Website link	https://udaan.com/
City	Bangalore

9. Dream11

Source: Thehindubusinessline

Overview	Dream11 is an Indian fantasy sports platform that allows users to play fantasy cricket, hockey, football, kabaddi, and other sports. It lets you create virtual teams of real players participating in live matches.
Started in	2008
Founder	Harsh Jain and Bhavit Sheth
Market Value	$5B
Funding	$1B
Investment	Tencent, Steadview Capital, and Kalaari Capital
Industry	Fantasy Sports, Gaming
Employee count	1600
Website link	https://www.dream11.com/
City	Mumbai

10. Swiggy

Overview	Swiggy is an Indian online food ordering and delivery platform. It operates in more than 580 Indian cities, providing food delivery services.
Started in	2014
Founder	Sriharsha Majety, Nandan Reddy, and Rahul Jaimini
Market Value	$5.5B
Funding	$2.5B
Investment	Prosus Ventures, Accel, and Naspers
Industry	Food Delivery, E-commerce
Employee count	5000, and 2 lakh+ delivery executives
Website link	https://www.swiggy.com/
City	Bangalore

11. Instamojo

Overview	Instamojo is a #D2CTech platform that helps you create your own website, sell online, and grow your business. It allows you to showcase products, accept 100+ payment modes, and ship all over India.
Started in	2012
Founder	Sampad Swain, Akash Gehani, and Aditya Sengupta
Market Value	$200M
Funding	$10M
Investment	Kalaari Capital, Blume Ventures, and 500 Startups
Industry	E-commerce, Payment solutions
Employee count	129
Website link	https://www.instamojo.com/
City	Bangalore

12. PostMan

Source: Businesswire

Overview	Postman is an API platform for building and using APIs. It simplifies each step of the API lifecycle and streamlines collaboration, allowing you to create better APIs faster. With its REST client, you can send requests, inspect responses, and debug REST APIs easily. The Postman desktop agent also needs to be installed for full functionality.
Started in	2014
Founder	Abhinav Asthana, Ankit Sobti, and Abhijit Kane
Market Value	$5.6B
Funding	$434M
Investment	Insight Partners, Coatue, Battery Ventures
Industry	Software, API Development
Employee count	2262
Website link	https://www.postman.com/
City	San Francisco

13. Delhivery

Overview	Delhivery is India’s largest fully integrated logistics services provider, offering express parcel, freight, courier, shipping, supply chain, and cross-border solutions.
Started in	2011
Founder	Sahil Barua, Mohit Tandon, Bhavesh Manglani, Suraj Saharan, and Kapil Bharati
Market Value	294.53B INR
Funding	$1.4B
Investment	CPPIB, Softbank Vision Fund, Mirae Asset Midcap Fund Direct Growth, HSBC Large Cap Fund Direct Growth, and Mirae Asset ELSS Tax Saver Fund Direct Growth
Industry	Logistics, Supply Chain
Employee count	57,000
Website link	https://www.delhivery.com/
City	Gurgaon

14. Slice

Overview	Slice offers cards for payments with pre-approved credit lines to mostly first-time credit users who cannot have conventional credit cards easily.
Started in	2015
Founder	Rajan Bajaj
Market Value	$1.8B
Funding	$20M
Investment	Tranche Finance, Tiger Global, GMO Venture Partners, Insight Partners, and Moore Strategic Ventures
Industry	Consumer finance company
Employee count	1000
Website link	https://www.sliceit.com/
City	Bangalore

15. InMobi

Source: Agencyreporter

Overview	InMobi is an Indian multinational technology company that provides mobile-first marketing and advertising solutions. It allows brands, developers, and publishers to engage consumers through contextual mobile advertising.
Started in	2007
Founder	Naveen Tewari, Mohit Saxena, Amit Gupta, and Abhay Singhal
Market Value	$15B
Funding	$510M
Investment	SoftBank, Google, Global Venture Capital, Mithril Capital Management
Industry	Media and information services
Employee count	2500
Website link	https://www.inmobi.com/
City	Bangalore, Karnataka

16. Practo

Overview	Practo is India’s no.1 online doctor consultation app that offers complete telemedicine solutions for you and your family’s health and medical needs. It provides video consultations with verified doctors across 25+ specialties, digital prescriptions, lab tests, and health packages. You can also book doctor appointments and order medicines through the platform.
Started in	2008
Founder	Shashank ND, Abhinav Lal
Market Value	$600M
Funding	$251M
Investment	Sequoia Capital, Matrix Partners, Tencent, RTP Global, Sofina Ventures
Industry	Healthcare, Telemedicine
Employee count	501
Website link	https://www.practo.com/
City	Bangalore, Karnataka

17. Boat

Overview	BoAt is an Indian consumer electronics brand that specializes in audio products. They are known for their trendy designs, bass-heavy sound signature, and competitive pricing.
Started in	2016
Founder	Aman Gupta and Sameer Mehta
Market Value	$1.4B
Funding	$171M
Investment	Qualcomm Inc., Warburg Pincus LLC, Fireside Ventures and InnoVen Capital
Industry	Consumer electronics industry
Employee count	470
Website link	https://www.boat-lifestyle.com/
City	Mumbai

18. Skyroot Aerospace

Overview	Skyroot Aerospace specializes in futuristic space-launch vehicle design and building. It is a leading provider of on-demand, cost-effective, reliable launch services for the global small and medium satellite market. Skyroot is led by its vision of ‘Opening Space For All’.
Started in	2018
Founder	Pawan Kumar Chandana, Naga Bharath Daka
Market Value	INR 1,090Cr
Funding	$95.5M
Investment	Temasek Holdings, GIC, merakilabs, Solar, Sherpalo, and Worldquant Ventures
Industry	Aerospace, Space Launch Vehicles
Employee count	184
Website link	https://skyroot.in/
City	Hyderabad, Telangana

19. LivSpace

Source: Pitchbook

Overview	Livspace is India’s most trusted home interior design and renovation service company. They offer expert interior designers to create beautiful living rooms, bedrooms, bathrooms, and more. Whether it’s new home interiors or renovation, Livspace provides end-to-end solutions.
Started in	2014
Founder	Anuj Srivastava and Ramakant Sharma1
Market Value	$1.2B
Funding	$450M
Investment	KKR: A global investment firm that led the Series F round, Ingka Group Investments, Jungle Ventures, Venturi Partners, Peugeot Investments, Goldman Sachs
Industry	Home Interior Design and Renovation
Employee count	1000+
Website link	https://www.livspace.com/in
City	Bangalore

20. Ather

Overview	Ather Energy focuses on designing and selling premium electric two-wheelers for the Indian market. Ather builds high-performance, zero-maintenance, and smart electric scooters.
Started in	2013
Founder	Tarun Mehta and Swapnil Jain
Market Value	$679M
Funding	$338.9M
Investment	Hero MotoCorp and GIC
Industry	Automotive, Electric Vehicles
Employee count	1,438
Website link	https://www.atherenergy.com/
City	Bangalore, Karnataka

21. Vernacular.ai

Overview	Vernacular.ai is an AI-first SaaS business driven by the mission to end bad call center experiences. They help enterprises enhance customer experience through intelligent voice conversations by automating call center queries.
Started in	2016
Founder	Sourabh Gupta, Akshay Deshraj, and Manoj Sarda
Market Value	$100M
Funding	$25M
Investment	WestBridge Capital
Industry	AI, Call Center, Customer Service
Employee count	201
Website link	Vernacular.ai
City	Bengaluru, Karnataka

22. PhonePe

Overview	PhonePe is a mobile payment app that allows you to transfer money using UPI, pay utility bills, recharge phone numbers, etc.
Started in	2015
Founder	Sameer Nigam, Rahul Chari, and Burzin Engineer
Market Value	80,643.45 Cr INR
Funding	$850M
Investment	General Atlantic, Walmart, Ribbit Capital, Tiger Global, TVS Capital Funds, Qatar Investment Authority, Microsoft
Industry	Digital payments and financial services
Employee count	13,000
Website link	https://www.phonepe.com/
City	Bengaluru

23. Licious

Overview	Licious is a meat and seafood brand that operates on a farm-to-fork model. They deliver fresh and clean fish, chicken, meat, and eggs directly to consumers’ doorsteps. Licious owns the entire back-end supply chain and cold chain, ensuring quality and freshness.
Started in	2015
Founder	Abhay Hanjura and Vivek Gupta
Market Value	$1B
Funding	$490M
Investment	Mayfield, Avendus, and Temasek
Industry	E-commerce, Food & Beverage
Employee count	6000
Website link	https://www.licious.in/
City	Bangalore

24. PolicyBazaar

Overview	PolicyBazaar is India’s largest online insurance aggregator, providing a platform for users to compare, analyze, and purchase life, health, and motor insurance products.
Started in	2008
Founder	Yashish Dahiya, Alok Bansal, and Avaneesh Nirjar
Market Value	$1.5B
Funding	$366M
Investment	Temasek, SoftBank Group, Info Edge (India) Limited
Industry	Fintech
Employee count	14,000+
Website link	https://www.policybazaar.com/
City	Gurugram, Haryana

25. Razorpay

Overview	Razorpay helps businesses manage their banking and digital payments. The company provides a platform for accepting, processing, and disbursing payments, offering access to various payment modes including credit cards, debit cards, net banking, UPI, and popular wallets like JioMoney, Mobikwik, and Airtel Money.
Started in	2014
Founder	Harshil Mathur and Shashank Kumar
Market Value	$7.5B
Funding	$375M
Investment	Axevil Capital, Moore Strategic Ventures, Alkeon Capital Management, Edgewood Ventures, Lone Pine Capital, TCV, Tiger Global, Sequoia Capital India, GIC, Y Combinator, Ribbit Capital, and Matrix
Industry	Fintech
Employee count	3130
Website link	https://razorpay.com/
City	Bangalore

26. Paytm

Overview	Paytm specializes in digital payments and financial services. The company offers mobile payment services to consumers and enables merchants to receive payments through QR code payment, Payment Soundbox, Android-based payment terminal, and online payment gateway.
Started in	2010
Founder	Vijay Shekhar Sharma
Market Value	38,000 Cr INR
Funding	$4.6B
Investment	Alibaba Group, Ant Group, eBay, SoftBank Vision Fund
Industry	Fintech
Employee count	15,665
Website link	https://paytm.com/
City	Noida, Uttar Pradesh

27. Ola

Overview	Ola, formerly known as OlaCabs, is India’s largest homegrown ride-hailing app. Ola has transformed the way people avail of cab services. It bridges the gap between cab owners and commuters, offering a seamless experience through its app.
Started in	2010
Founder	Bhavish Aggarwal and Ankit Bhati
Market Value	$1.88B
Funding	$3.84B
Investment	Softbank, Tiger Global, Vanguard, and BluSmart
Industry	Transportation industry
Employee count	2100
Website link	https://www.olacabs.com/
City	Bangalore, Karnataka

28. BharatPe

Overview	BharatPe offers a suite of simple, easy-to-use, and secure fintech products, including payments and business loans, to its merchant partners.
Started in	2018
Founder	Ashneer Grover and Shashvat Nakrani
Market Value	$26B
Funding	$100M
Investment	Sequoia Capital India, Coatue, Ribbit Capital
Industry	Fintech
Employee count	616
Website link	https://bharatpe.com/
City	Delhi

29. 1mg

Overview	1mg is an Indian digital healthcare platform that provides an online pharmacy center. It aims to make healthcare accessible, understandable, and affordable. Additionally, 1mg offers lab test bookings, online consultations, and authentic information from healthcare professionals.
Started in	2013
Founder	Prashant Tandon, Gaurav Agarwal, and Vikas Chauhan
Market Value	$1.25B
Funding	$231M
Investment	Tata Digital, KWE Beteiligungen AG, HBM Healthcare Investments, MAF Mauritius, MPOF Mauritius
Industry	Healthcare industry
Employee count	2,707
Website link	https://www.1mg.com/
City	Gurugram, Haryana

30. Urban Company

Overview	Urban Company is an Indian technology company that provides a platform for connecting customers with local service providers in various categories such as beauty, wellness, home repairs, and other professional services. It has also expanded internationally to the United Arab Emirates, Australia, and Singapore.
Started in	2014
Founder	Abhiraj Bhal, Varun Khaitan, and Raghav Chandra
Market Value	$2B
Funding	$440
Investment	Sequoia Capital, Tiger Global, and Vy Capital
Industry	Service aggregation industry
Employee count	992
Website link	https://www.urbancompany.com/
City	New Delhi

31. Apna

Overview	Apna is India’s largest professional networking platform, connecting job seekers with employers and providing a space for skill development. It focuses on local communities, enabling users to find relevant job opportunities within their neighborhoods.
Started in	2019
Founder	Nirmit Parikh
Market Value	$1.1B
Funding	$100M
Investment	Insight Partners, Tiger Global, Lightspeed
Industry	Professional networking and job search platform
Employee count	1000
Website link	https://apna.co/
City	Bangalore

32. CARS24

Overview	CARS24 is an Indian used car marketplace. The platform provides a hassle-free and transparent process for buying and selling used cars. CARS24 has a network of inspection centers and car-buying centers across India.
Started in	2015
Founder	Vikram Chopra, Mehul Agrawal, Gajendra Jangid, and Ruchit Agarwal
Market Value	$3.3B
Funding	$450M
Investment	Alpha Wave Global, Zennis Capital, Jake86 LLC, Trifecta Capital, SVF Investment Corp, Scott Bankcraft Kapnick, SoftBank Group
Industry	Automotive sector
Employee count	6000+
Website link	https://www.cars24.com/
City	Gurgaon, Haryana

33. Bharat Biotech

Overview	Bharat Biotech is a leading Indian biotechnology company known for its innovation and excellence in vaccines and bio-therapeutics. It helps people overcome challenging diseases, including typhoid, rotavirus, polio, rabies, and COVID-19.
Started in	1996
Founder	Dr. Krishna M. Ella and Mrs. Suchitra K. Ella
Market Value	132 Cr INR
Funding	$13.7M
Investment	ICICI Venture, IFC and Kotak Mahindra Bank
Industry	Vaccines and bio-therapeutics
Employee count	700
Website link	https://www.bharatbiotech.com/
City	Hyderabad, Telangana

34. Skillmatics

Overview	Skillmatics is a direct-to-consumer brand that develops innovative educational products and games for children. Their products blend learning and play to boost cognitive skills, covering topics such as space, geography, art, and more.
Started in	2016
Founder	Dhvanil Sheth
Market Value	$127M
Funding	$24M
Investment	Sofina, Sequoia Capital India, Sequoia India's Surge program
Industry	Educational products and games
Employee count	114
Website link	https://www.skillmatics.in/
City	Mumbai

35. Rapido

Overview	Rapido is an online bike taxi aggregator. It provides convenient bike taxi services. Rapido focuses on last-mile connectivity and offers affordable travel options.
Started in	2015
Founder	Rishikesh S R, Pavan Guntupalli, and Aravind Sanka
Market Value	$800M
Funding	$100 M
Investment	Westbridge, Shell Ventures, Nexus Ventures, Astarc Ventures, Yamaha Motor Ventures
Industry	Bike taxi market
Employee count	15,000
Website link	https://www.rapido.bike/
City	Bengaluru, Karnataka

36. KreditBee

Overview	KreditBee offers personal loans to young professionals, serving over 7 million customers.
Started in	2016
Founder	Madhusudan Ekambaram, Karthikeyan Krishnaswamy
Market Value	$700M
Funding	$400M
Investment	Advent International, Archerman Capital, Mitsubishi UFJ Financial Group (MUFG) Bank, Motilal Oswal Alternates, NewQuest Capital Partners, Premji Invest, TPG-NewQuest
Industry	Fintech
Employee count	1283
Website link	https://www.kreditbee.in/
City	Bangalore, Karnataka

37. MobiKwik

Overview	MobiKwik is an innovative Indian startup that provides a mobile wallet and digital payment solution that simplifies digital transactions for millions of users.
Started in	2008
Founder	Bipin Singh and Upasana Taku
Market Value	3,286.13 Cr INR
Funding	$100M
Investment	Peak XV Partners, NET1, Bajaj Finserv, Sequoia Capital
Industry	Fintech
Employee count	667
Website link	https://www.mobikwik.com/
City	Bangalore, Karnataka

38. Cuemath

Overview	Cuemath started in India with a mission to transform the way children learn math. Initially an offline teaching center, Cuemath has evolved into the world’s leading online math education platform.
Started in	2013
Founder	Manan Khurma
Market Value	$407M
Funding	$126M
Investment	Sequoia Capital, Trifecta Capital, Alpha Wave Global, Peak XV Partners
Industry	Ed-tech company
Employee count	318
Website link	https://www.cuemath.com/
City	Bengaluru

39. Xpressbees

Overview	Xpressbees has rapidly emerged as a leading player in the logistics and supply chain industry. With its exclusive transportation and delivery framework, the company offers a variety of logistics services locally and globally. These services include e-commerce logistics, express cargo, cross-border logistics, and fulfillment services. Xpressbees is associated with brands like Flipkart, ICICI Bank, TATA Cliq, Schneider Electric, and many others.
Started in	2015
Founder	Amitava Saha and Supam Maheshwari
Market Value	$1.4B
Funding	$680M
Investment	Alibaba, Blackstone, CDH, ChrysCapital, Elevation Capital, Gaja, Investcorp, Khazanah Nasional Berhad, Norwest Venture Partners, Ontario Teachers' Pension Plan, SAIF, TPG, Valiant
Industry	Logistics industry
Employee count	6,211
Website link	https://www.xpressbees.com/
City	Pune

40. Dunzo

Source: Behance

Overview	Dunzo is a delivery service that quickly brings groceries, essentials, and packages to your door. It simplifies everyday errands with reliable, on-demand delivery.
Started in	2015
Founder	Ankur Aggarwal, Dalvir Suri, Kabeer Biswas, Mukund Jha
Market Value	$744M
Funding	$128,399,438
Investment	Alteria Capital, Google, Lightbox, Evolvence, LGT Lightstone Aspada, and S Korea's Hana Financial Investment
Industry	Delivery, Delivery Service, E-Commerce, Mobile, Mobile Apps
Employee count	10000
Website link	https://www.dunzo.com/
City	Bangalore

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Frequently Asked Questions (FAQs)

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Cred, Swiggy, Paytm, and many more are some of the biggest startups in India. All these companies are now Indian unicorns raising millions of dollars.

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