Top 30 best-funded Indian startups 2020
With more than 1.3 billion people and a rapidly growing economy, India is a key country for startups who are engaging massive funds to grab a share of the market. India is a battleground for companies aiming at explosive growth and establishing themselves in an upcoming global tech leader in the long run.
Involved in multiple industries, Indian startups are spearheading businesses primarily through new technologies. Relying upon innovation to create new productive systems, Indian startups are disrupting numerous industries including retail, transportation, hospitality, automotive, food delivery, logistics, finance, and insurance.
Some of these startups are already famous in India, reaching a large part of the population with their products and services. But as they are rapidly growing in the Indian subcontinent, some of these young companies have already launched their operations abroad and started becoming global brands. Having generally become successful thanks to the country’s exceptional demography, several Indian startups have also already reached the acclaimed “Unicorn” status, that is to say, a valuation of more than a billion US dollars.
List of the 30 top-funded startups from India
Here is the list of the top 30 best-funded Indian startups with details about each company, the total amount of funds received by the company in US $ according to Crunchbase, as of May 2020, together with a direct link to the company’s website.
Remark that some companies which have long been considered to be some of the prominent startups in India, such as Flipkart, were not included in this list as they have recently been acquired or launched an initial public offering on a stock exchange. Therefore the status of “startup”, understood as a young company aiming at growing as fast as possible, seems not to apply to them any longer.
Industry: Financial Services – Total funding: $187.5 Million
InCred is an online credit provider for personal and business loans. It relies on data analytics to ease and accelerate lending and provides a range of financial products including home loans, car and vehicle loans, education loans, and loans for SMEs.
Industry: Transportation – Total funding: $193.8 Million
Cars24 is an online platform for selling used cars. It allows individuals to sell their used cars through a very simple process that can take less than one hour. Users can go through an online estimation before taking their cars to a Cars24 branch for inspection. If the inspection is passed, the car is bought by Cars24 and the payment and ownership transfer is concluded.
28. Mu Sigma
Industry: Data and Analytics – Total funding: $211.4 Million
Mu Sigma is a management consulting firm primarily providing data science services. Dedicated to finding managerial solutions through decision sciences and big data analysis, Mu Sigma delivers a range of solutions for marketing analytics, risk analytics, and supply chain analytics for a number of industries.
Industry: Commerce and Shopping – Total funding: $215.2 Million
Meesho is a social commerce platform and network of online resellers. It allows individuals and businesses across India to create online stores and sell products within their network on social channels, including WhatsApp, Facebook, Instagram.
Industry: Social Network, Mobile Apps – Total funding: $222.8 Million
ShareChat is a social networking and regional content platform, allowing Indians to use the Internet in their mother tongue. ShareChat aims at bringing local, relevant content to smartphone users across India in Indian languages including Hindi, Telugu, Marathi, and Malayalam.
Industry: Financial Services – Total funding: $241.4 Million
Billdesk is an electronic payments service, operating as part of the IndiaIdeas company. Founded in 2000, Billdesk is a pioneer online payment gateway operator that enables banks, businesses, and other institutions to deliver invoices to customers so as to receive payments in India.
Industry: Financial Services – Total funding: $242.5 Million
Lendingkart is an online lending provider dedicated to entrepreneurs and small businesses. Through its online platform and advanced data analytics, it evaluates and scores businesses to quickly approve loans and deliver working capital and financial solutions throughout India.
Industry: Transportation – Total funding: $247.5 Million
CarDekho is a new and used car marketplace and automotive news, comparator, and reviews platform. It helps Indians buy and sells cars through deals with car manufacturers, classifieds for used cars, and a range of tool and related services. CarDekho has also launched its expansion to Southeast Asia and the UAE.
Industry: Logistics – Total funding: $257.4 Million
Rivigo is a logistics company enhanced by technology. Working with a driver-first model, Rivigo provides timely and reliable delivery while ensuring the quality of life of drivers. Its digital trucking marketplace offers multiple options including relay-led trucking and freight logistics to optimize shippers and fleet operators’ results.
Industry: Logistics – Total funding: $297 Million
Blackbuck provides a technology platform for trucking and logistics in India. It facilitates truckers and shippers operations thanks to a freight platform that improves the utilization of trucks and a service platform for trucking, infrastructure, and fleet management.
20. Pine Labs
Industry: Financial Services – Total funding: $310.8 Million
Pine Labs is a financial technology company providing financing and last-mile retail transaction technology. Hosting a merchant platform and point-of-sale machines, Pine Labs empowers more than 70,000 merchants and retailers, helping them increase their revenues and reduce costs, complexity, and risk, across India, Malaysia, and other Asian locations.
Industry: Enterprise Software – Total funding: $320.6 Million
InMobi is a company dedicated to providing cloud-based marketing services. It hosts a mobile-first platform that supports a range of services including market analytics, marketing campaign performance management, in-app marketing, and monetization for brands, developers, and publishers.
Industry: Health Care – Total funding: $328.5 Million
PharmEasy is a pharmacy aggregator, it helps Indian patients connect with local pharmacy stores and diagnostic centers. It allows individuals to buy their prescription medicine and healthcare products from local pharmacies and also permits to take online diagnostic tests.
Industry: Fitness – Total funding: $404.6 Million
CureFit is a health and fitness company providing healthy food and professional workout through digital and offline experiences. It delivers meals, operates gyms, and trainer-led or group workout classes for bodybuilding and mental well-being.
Industry: Commerce and Shopping – Total funding: $418.4 Million
A specialized e-commerce platform for baby care products, kids’ clothes, and toys, Firscry is a pioneer of e-commerce in India offering products from thousands of brands. Having expanded into franchised stores, Firstcry now also offers its products through tens of stores across numerous Indian cities.
Industry: Commerce and Shopping – Total funding: $424.2 Million
Quikr is a free classifieds ads and marketplace operating across India. Connecting the offer and demand through its platform, Quickr helps users sell, buy, rent, and discover a wide range of products including mobile phones, furniture, and household goods, cars, real estate properties, jobs, services, and education.
Industry: Health Care – Total funding: $459.6 Million
Lenskart is a retail company dedicated to eyeglasses and optical prescription eyewear. It operates more than 500 stores across India and has also established itself as a leader in eyewear e-commerce providing hundreds of glasses designs, including some of the world’s leading brands, as well as 48-hour free home delivery and return policy.
Industry: Financial Services – Total funding: $496.6 Million
PolicyBazaar is an insurance aggregator. It allows users to compare health insurance, car insurance, two-wheeler insurance, travel insurance policies based on price, quality, and key benefits together with solutions for financial security and competitive returns.
Industry: Commerce and Shopping – Total funding: $597.1 Million
Grofers is an online supermarket. Offering a range of low-priced products including groceries, beauty and wellness products, household care, baby care, or pet care, Grofers simplifies everyday retail through a simple online shopping experience and express delivery around India.
Industry: E-Commerce – Total funding: $899.9 Million
Udaan is a business-to-business marketplace and trading platform. It allows small and medium businesses in India to discover products, customers, and suppliers, connect with them, buy and sell. Udaan regroups Indian traders, wholesalers, retailers, and manufacturers on a single platform.
Industry: Food and Beverage – Total funding: $914.6 Million
Zomato is a restaurant search and reservation app. It is used by consumers to discover, rate, and review restaurants. Zomato also offers services including online ordering, table reservation, white-label platform, and point-of-sale system to connect restaurants to customers and ease their operations. Since its creation in 2008, Zomato has expanded to more than 20 countries.
Industry: Logistics – Total funding: $934.6 Million
Delhivery is a logistics and supply chain services company. It provides a dedicated supply chain platform and logistics services including last-mile delivery, parcel transportation, warehousing, freight, reverse logistics, cross-border, and technology services.
Industry: Commerce and Shopping – Total funding: $1.1 Billion
BigBasket is an online food and grocery store. Bringing daily shopping to Indians’ home in an easy and convenient experience, BigBasket offers and delivers a wide range of products including fruits and vegetables, meat, rice and dals, packaged products, beverages, and personal care products.
Industry: Education – Total funding: $1.4 Billion
BYJU’S is an online educational platform and education services provider. It offers an array of online video courses for children of all ages and students preparing exams including CBSE, GMAT, GRE, etc. together with study material and education counseling.
Industry: Food and Beverage – Total funding: $1.6 Billion
Swiggy is a food ordering and delivery platform. It provides a curated list of restaurants to choose from and a delivery fleet to bring orders to customers. Thanks to its app, restaurants have access to a new source of customers, and people can get food from their favorite restaurants or new discoveries delivered at their doorstep.
Industry: Commerce and Shopping – Total funding: $1.8 Billion
Snapdeal is a diversified online shopping platform, offering products ranging from electronics and fashion to home and appliances. Backed by famous investors, including Alibaba, Foxconn, and SoftBank, Snapdeal is gearing towards competition with the very top e-commerce sites of India.
4. ReNew Power
Industry: Energy – Total funding: $2.8 Billion
ReNew Power is a company dedicated to renewable energy. It develops, builds, owns and operates renewable energy production facilities with utility-scale wind, utility-scale solar, and rooftop solar projects. The largest independent renewable energy company in India, it is dedicated to growing its production while supporting sustainable business practices.
Industry: Travel and Tourism – Total funding: $3.2 Billion
OYO is a hotel chain that offers a range of stay experiences across India. Relying upon standardization and the use of its technology platform, OYO revolutionizes budget hospitality with comfortable and affordable hotels. It also provides a portfolio of offers for all types of travelers in India and abroad, in China, Malaysia, Nepal, Indonesia, and UAE.
2. Ola Cabs
Industry: Transportation – Total funding: $3.8 Billion
Ola operates a ride-hailing platform. It allows the booking of a range of cabs, bikes, and other vehicles through a single mobile app ensuring convenient, transparent, safe, and quick urban transportation. Besides India, Ola has expanded its activities to other countries including Australia, New Zealand, and the UK.
1. One97 (Paytm)
Industry: Commerce and Shopping, Financial Services – Total funding: $4.4 Billion
One97 Communications is the company operating Paytm, a digital goods and mobile commerce platform providing a number of products and services including mobile recharge, bill payments, transport tickets, hotel reservations, games, and much more. It also operates Paytm Mall which sells products ranging from men and women fashion to electronics and home products, groceries and cosmetics, kids and family as well as cars and other vehicles.