India’s startup sector is growing more quickly than we could have anticipated. Now, they are laying the foundation for India’s future. Zomato, BYJUs, Nykaa, and other well-known corporations have recently caught everyone’s interest. These are actual examples of the growth of startups in India.
These startups have helped us overcome many of our problems. Additionally, they have improved themselves. Startups in India are currently making a profit and experiencing a rise in valuation.
The last two years have been quite the roller coaster. Old and new ideas have blended over time. The outbreak made it difficult for many businesses to keep up. On the other hand, many people succeeded in reaching their peak. The Indian startup industry has experienced unprecedented growth in the past two years. By getting into the unicorn club, startups like BYJU, Zomato, Nykaa, and others have brought honor to India.
With over 100 unicorn businesses already established and many more on the way, India is now the world’s third-largest home for unicorn companies because of technology, constant innovation, and a love for entrepreneurship.
So now, let’s look at the top 10 Indian startups based on their revenue FY2022.
1. Udaan (Revenue – 5,919 Cr)
In 2016, a network-focused B2B e-commerce platform was developed in India. The startup allows retailers, manufacturers, and distributors to interact directly in one place. Additionally, Udaan’s business enables secure payments and effective logistics.
Udaan has proven efficient in addressing trade concerns for businesses all around India. It made INR 5,919 crores in fiscal year 21.
2. Digit Insurance (Revenue – INR 5,268 Cr)
To change people’s opinions of insurance products, the 2016 insurance company Digit Insurance claims to simplify insurance products for everyone. In addition to $340,000 from the Indian celebrity couple Virat Kohli and Anushka Sharma, Digital Insurance obtained its inaugural funding in 2020.
Over 20 lakh Indians have taken illness insurance against COVID-19 and other illnesses, including malaria, chikungunya, dengue, and others, which is the source of this. The Bangalore-based firm Digit anticipates reaching break-even in 2020 due to its low operating costs and favorable business KPIs.
3. Paytm (Revenue – 4,846 Cr)
A firm offering financial services and digital payments, Paytm is based in Noida, India. In 2010, Vijay Shekhar Sharma founded One97 Communications. Retailers may take payments using the company’s QR code, point of sale, and internet payment gateway solutions, while consumers can utilize the company’s mobile payment services. Paytm works with financial institutions to provide its customers and merchants with financial options, including microloans and buy now, pay later. The company offers tickets, retail brokerage products, money transfers, online games, bill payments and transfers.
4. Zomato (Revenue – 4,192.4 Cr)
In 2008, Deepinder Goyal and Pankaj Chaddah founded the Indian restaurant directory and meal delivery service Zomato. Zomato provides information on restaurants, menus, user reviews, and meal delivery services from affiliated restaurants throughout the globe. As of 2019, the service is accessible in over 10,000 cities across 24 nations.
5. Oyo (Revenue – INR 4,157 Cr)
An Indian global hospitality firm called OYO Rooms manages rented and franchised lodgings. OYO Hotels & Houses is another possible spelling. Ritesh Agarwal established OYO in 2012, initially focusing primarily on budget hotels. In 800 cities across 80 countries, consisting of India, Malaysia, the UAE, Nepal, China, Brazil, Mexico, the United Kingdom, the Philippines, Japan, Saudi Arabia, Sri Lanka, Indonesia, Vietnam, and the United States, it has over 43,000 properties and one million rooms as of January 2020.
6. Nykaa (Revenue – INR 3,773 Cr)
It was established in 2012 as an Indian e-commerce website by Falguni Nayar. The company uses the internet, an app, and physical stores as its three distribution methods for its products. It sells a wide range of beauty, health, and fashion items.
In 2020, Nayar’s firm will be the first Indian unicorn startup managed by a woman. The projected income for Nykaa in 2021 is INR 2,440 crores. FY2022 has also disclosed revenue of 3,773 crores of Indian rupees.
7. BYJU’S (Revenue – INR 3039.45 Cr)
Bangalore, India, is home to the international educational technology company BYJU’S. It was started in 2011 by Divya Gokulnath and Byju Raveendran. BYJU’S is estimated to be worth US$22 billion as of March 2022, and the company states that over 115 million students are registered.
8. Dream11 (Revenue – INR 2,554.4 Cr)
Since its establishment in 2008, DREAM 11 has grown to include more than ten crore users in India. Two young co founders founded the company in Mumbai, Maharashtra, Harsh Jain and Bhavit Sheth. Before the IPL 2021 season began, DREAM 11 raised $400 million. One of the investors is TCV, which has previously provided funding to businesses like Netflix and Airbnb. With a $5 billion value, DREAM 11 has also become the first unicorn startup in India. The company’s growth rate during the preceding three years was a CAGR of 230%.
9. PharmEasy (Revenue – INR 2,360 Cr)
PharmEasy is an online pharmacy and medical supply company based in India that specializes in over-the-counter (OTC) drugs, medical equipment, and diagnostic procedures. The company was established in Mumbai, Maharashtra, in 2015, and since then, it has experienced significant growth. It’s an online pharmacy with every item you’d find at a brick-and-mortar pharmacy.
The company developed as a vital resource during the COVID-19 outbreak, aiding its growth. Competitors of PharmEasy in India include 1mg and Netmeds. This health-tech company is now India’s first Epharmacy unicorn after raising $350 million in funding.
10. Swiggy (Revenue – INR 2,145 Cr)
Everyone has heard of Swiggy. Consider that you are at work on a Monday and craving cheesecake after lunch. You may now state your desires while lounging at home, thanks to Swiggy. The most extensive food delivery service in India, Swiggy, has partnerships with over 40,000 companies and runs in 27 cities. The Bangalore-based business has just raised $800 million in funding, and its current market worth is over $5 billion.
Wrapping Up
So, this was the index of the top 10 startups in India based on their annual revenue. If you want to get more such information, then stay tuned with us!
