Prime Minister Narendra Modi, in a virtual gathering of over 150 entrepreneurs on Saturday, January 16, 2022, that the country will celebrate January 16 as National Startup Day. He characterised startups as the backbone of the new India and the engine that will drive the country’s economic growth in the run-up to the country’s 100th anniversary of independence.
This step is one of the many towards making India independent. There are many startups in India, and so, introducing National Startup Day will motivate young entrepreneurs to keep innovating.
On the occasion of National Startup Day, here are the top 5 Indian startups that hit across the globe:
CRED
CRED app, a Bangalore based startup, was founded in 2018 as a platform where you can pay your credit card bills, and get rewards in return.
CRED is the youngest Indian firm to be valued at $2.2 billion, according to TechCrunch. This two-year-old company has over 6 million clients and accounts for around 22% of all credit card holders. According to Kunal Shah, founder and CEO, CRED caters to affluent customers and has become one of the most talked-about businesses.
PharmEasy
Pharmacy, an online pharmacy and medical store, was founded in 2015 in Mumbai, India. During the Covid-19 era, the company grew immensely. Having raised over $350 million, PharmEasy is India’s first E-pharmacy unicorn.
Founders Dharmil Sheth and Dr. Dhaval Shah shared that they aim to reach over 100,000 pharmacies in India’s new geographical areas in the next 12 months.
Nykaa
Nykaa, founded in 2012, is an e-commerce fashion and beauty platform. The company raised $25 million in March, 2020. Currently, it is valued at $1.2 billion.
Falguni Nayar, the founder, was an investment banker. As of now, the company has more than 5 million monthly users, and has more than 55 retail locations and delivers over 1.5 million orders every month. Nykaa is preparing for an initial public offering (IPO) in 2022, with a target valuation of $3.5 billion. This online beauty business is predicted to develop at a CAGR of 9%, according to a research by RedSeer Consulting.
Dream11
Dream11, a Mumbai based business founded in 2008, is an online fantasy sports platform. It has more than 10 crore users in India. It is India’s first unicorn startup, with a valuation of $5 billion.
Dream11 was founded by Harsh Jain and Bhavit Sheth, and in the past 3 years, has grown at a CAGR of 230.
Swiggy
Swiggy was founded in 2014 with merely a staff of 5 delivery boys and less than 30 restaurant partners. The company is currently valued at approximately $5 billion. Swiggy was founded by Sriharsha Majety, Nandan Reddy, Rahul Jaimini. It is one of the most successful startups in India. In less than four years, the company has become a unicorn startup.