Top 10 Indian Start-ups 2022: India’s start-up ecosystem has been on the rise in recent years, with new and innovative ideas sprouting up every day. As we enter 2023, the Indian start-up scene shows no signs of slowing down. From healthcare to education to e-commerce, start-ups in India are creating waves with their disruptive business models and innovative solutions. In this article, we will be taking a look at the top 10 Indian start-ups to watch out for in 2023. These start-ups have shown tremendous potential and have already made a significant impact in their respective industries.
Top 10 Indian Start-ups 2022
The First name on our list is one of India’s latest unicorns, PhysicsWallah, also known as PW, is an edtech startup that provides competitive exam preparation for NEET and IIT/JEE. The Noida-based company recently raised $100 Mn in a Series A funding round from Westbridge and GSV Ventures, pushing its post-money valuation to $1.1 Bn, making it the seventh edtech unicorn in India. This news follows the country’s 100th unicorn milestone by a little over a month.
PhysicsWallah, founded by Alakh Pandey and Prateek Maheshwari in 2020, started as a Youtube channel in 2016 before expanding to an app and a website in 2020. The startup plans to use the funding for expanding its business, branding, introducing new courses, and opening more learning centres across India. PhysicsWallah claims that over 10,000 of its students cracked NEET and JEE in 2020 and 2021.
CRED, established in the year 2018, is a financial services firm and a credit card rewards app that operates on a membership basis. The company has become renowned for its unique advertisements. In addition to its BeniFlex Program, which includes perks like ElderCare and egg freezing, CRED also provides its employees with personalised assistance for mental well-being through its affiliates. The Company has brilliantly used advertisements and social media for its promotions. CRED’s Ad campaigns have been some of the most innovative and interesting Ad campaigns in recent years.
Skyroot Aerospace, established in 2018 by a team of engineers and ex-ISRO scientists, focuses on developing technologies that enable affordable, reliable, and agile access to space. The company is presently engaged in the development of the Vikram series of rockets, designed to facilitate the deployment of small satellites into orbit. As India’s pioneer private space launch startup, Skyroot Aerospace offers commercial launch services, driven by the expertise of its co-founders Pawan Kumar Chandana and Naga Bharath Daka, both formerly associated with the Indian Space Research Organisation.
Groww is an investment platform that offers a range of investment options such as stocks, ETFs, mutual funds, IPOs, and more to its customers. This platform can be accessed through both mobile applications and the web. The company was established in 2016 by four former Flipkart employees who recognized the challenges of investing in India. They founded Groww to address this problem, and the platform now has more than 15 million registered users. According to Groww, over 60% of its user base comes from smaller Indian cities where investing is not commonplace. Lalit Keshre, one of the founders, has stated that Groww is widely used throughout India, not just in metropolitan areas. Its user base comprises young, working-class individuals who wish to invest their hard-earned money.
In 2021, the company secured $83 million in funding, making it a member of the Unicorn club. Groww intends to utilise these funds to launch new products, hire new talent, and develop education platforms for investors.
Licious is an Indian food tech enterprise that specialises in delivering fresh meat and seafood to customers through its online platform. Established in 2015, Licious employs a mobile app and website to facilitate the ordering process. The company sources its products directly from farmers and fishermen, and uses advanced technology and expert quality assessments to maintain high standards of quality and safety. Licious offers an extensive selection of meat and seafood products, including chicken, mutton, seafood, and ready-to-cook items, and ensures fast delivery to customers in major cities throughout India. Amid the COVID-19 pandemic, the company has implemented rigorous hygiene and safety measures to ensure that its products are delivered safely.
upGrad, an edtech company established in 2015, provides working professionals and college students with the chance to enhance their skills through collaborations with multiple universities in India and overseas. The company has recently received a funding of $210 million and has maintained its capital efficiency while achieving a remarkable 100% year-on-year growth rate. This growth has been fueled by its ability to deliver high-quality educational programs that are relevant and practical for today’s workforce. With its commitment to providing cutting-edge learning solutions, upGrad has become a trusted partner for many learners who want to improve their employability prospects and stay relevant in an ever-evolving job market. Its partnerships with leading universities and businesses have helped to create a thriving ecosystem of learning and professional development.
Zepto, a company established in 2021, prides itself on its rapid delivery service, which ensures that orders are fulfilled within a mere 10 minutes. The company was co-founded by two individuals who were 19 years old at the time. Since its inception, Zepto has garnered considerable attention, and its most recent funding round in May has helped push its valuation to an impressive $900 million, bringing it one step closer to unicorn status. The company offers an extensive range of products, including groceries and dairy items, among others.
MBA Chai Wala
MBA Chai Wala, a chain of tea cafes, became famous due to its founder’s unusual background. The chain was established in 2016 by an individual who had worked as a server at McDonald’s. The founder’s parents were farmers. Despite starting with a humble “thela,” MBA Chai Wala has grown into a thriving business with numerous franchises in more than 100 cities across India. The founder’s unconventional background, combined with the chain’s high-quality tea and snacks, has attracted a large following of loyal customers. The success of MBA Chai Wala serves as an inspiring example of how determination, hard work, and a unique vision can transform a small business idea into a booming enterprise.
Spinny, established in 2015, is a platform that facilitates the transaction of secondhand automobiles while emphasising transparency and smoothness. In the process of expanding, the organisation is interested in recruiting as many as 2,500 individuals from cities categorised as tier 2 and tier 3. These individuals are expected to become part of Spinny’s workforce, which has been expanding quickly. Spinny has carved out a niche in the pre-owned vehicle sector by providing high-quality automobiles and unrivalled service, which has led to a loyal customer base. As a result, Spinny intends to broaden its reach in the pre-owned car market by focusing on new hires from lower-tier cities.
GrowthSchool, established in the year 2021, has a goal to facilitate the personal and professional development of its students. It has enlisted the expertise of renowned mentors like Ankur Warikoo, co-founder of Nearbuy, Devaiah Bopanna, co-founder of All Things Small, and Pooja Dhingra, a pastry chef, to assist individuals in enhancing their career prospects through interactive debates, discussions, and live Q&A sessions. The platform’s approach is to provide an immersive learning experience that equips students with the skills, knowledge, and mindset necessary to succeed in their chosen field. GrowthSchool aims to foster an environment that promotes learning and growth, allowing students to reach their full potential and achieve their aspirations.
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