Top Startups / December 18, 2023
Asaf Fybish

As a growth marketing expert, Asaf helps startups driving scalable growth through data-driven strategies and innovative marketing techniques.

Top Indian Startups To Watch in 2024

India is one of the cultural and population hubs of Asia and with such a large population, it is no surprise that the country generates a large number of top startups. Indian startups benefit from a rapidly growing and developing ecosystem which has a large pool of native talent available to it. This can be seen in the fact that the amount of VC funding in India has increased from $20.5 Billion in 2018 to $24.1 Billion in 2022.

The ecosystem's growth is highlighted by the fact that it is expected to grow year-on-year by between 12%-15%. There are also more than a 100 unicorns in the country, which highlights the underlying potential for India to become one of the biggest startup powerhouses.

The Indian government is increasingly assisting with the development of the startup ecosystem in the country, with the Startup India Initiative being launched in 2015. This program aims to improve the simplification of legislation and the environment for businesses, increasing the availability of early-stage funding and increasing partnerships between industry and academia to fuel talent.


1. Rigi

Year Founded: 2021

HQ: Bengaluru, India

Size: 1-10

Founders: Ananya Singhal, Swapnil Saurav

The first company on our list of top Indian startups to follow in 2023 is Rigi. This business was designed with a specific focus on a niche target audience in digital entertainment. Rigi was designed for influencers, content creators, and celebrities. The online platform allows the influencers to earn from the community they have created content for. Within the platform, users can manage and grow their audience which can build them a career. There are free features users can use so that even if they are at the start of their digital career, they can have the right tools to make the right steps.

This inventive and very current top startup has had great success so far in raising funding to boost the startup to the next level. The current total funding amount is $23.6M.


2. Landeed

Year Founded: 2022

HQ: Bengaluru, India

Size: 11-50

Founders: Sanjay Mandava, Zijie Lin

Next up is Landeed, a top startup from India working in the property management, insurance industry. This PropTech company is working to make it easier for people to verify their ownership of property. The aim is to make the process of land transactions just as easy and smooth as the process of trading shares. Landeed is putting the power into the hands of citizens so they can protect their own property ownership, without fear of land being illegally taken from them. This top startup develops a search engine for property titles for Indian real estate, to make that power.

Since launching just last year in 2022, this Indian startup has raised $10.8M in total funding. This was made across just two funding rounds and the most recent funding round took place on the 24th of January, 2023.


3. Zepto

Year Founded: 2021

HQ: Parel, India

Size: 101-250

Founders: Aadit Palicha, Kaivalya V

Zepto is another top startup from India and is working in the apps market, providing its customers with a delivery service that is accessible via a digital platform. The Indian startup has created an online platform that acts as a grocery shop where customers can order and have their delivery arrive in ten minutes. Zepto was created to cut out the hassle of online food deliveries; now, customers can have their order arrive so quickly, they can start to preheat the oven whilst waiting for their ingredients to arrive. The fast paced delivery platform was designed to keep up with and match the faced pace way of life today.

The top startup has raised a rather impressive total funding amount of $360M since launching. This was made possible with the support of twelve investors across five funding rounds. The latest funding round raised for Zepto was closed on the 3rd of May, 2022.


4. Toddle

Year Founded: 2019

HQ: Bengaluru, India

Size: 51-100

Founders: Deepanshu Arora, Gautam Arora, Misbah Jafary, Nikhil Poonawalla, Parita Parekh

Toddle is an Edtech startup from India that has created a platform for teachers to make collaboration more unified and easy within education. The platform provides teachers with one platform where they can access everything they need to plan, teach, and more. Within the platform, there are tools to aid in planning lessons, delivering content, keeping track of a schedule, reporting progress, and so much more.

The total funding amount for Toddle currently sits at $17M. This money was raised in two funding rounds, the second of which took place on the 10th of January, 2023.


5. BankSathi

Year Founded: 2019

HQ: Bengaluru, India

Size: 101-250

Founders: Himanshu Pujari, Jitendra Dhaka, Rahul Walia, Sandeep Kaler

BankSathi is the fifth top startup on our list to follow in 2023. It is operating in the financial services sector. The Indian startup allows its user to start a business selling insurance, loans, cards, comparison, and also approval facilities. BankSathi is open to lots of people using its tools and becoming a BankSathi Adviser, including ex-bankers, insurance advisers, loan agents, BFSI professionals, and wealth advisers. The top startup's customers can become an adviser, and then share leads to start earning.

The top startup has raised $5.4M in total funding to date. BankSathi's latest funding round was closed on the 9th of January, 2023, and this was a Seed round of funding.


6. Sourcewiz

Year Founded: 2020

HQ: New Delhi, India

Size: 51-100

Founders: Divyaanashu Makkar, Mayur Bhangale, Vikas Garg

Sourcewiz is another top startup from India, it works in the B2B and information technology sectors. The Indian startup has created a platform that can be used by exporters to make their workflow digitalised. This in hand will help users make their workflow easier to manage and understand, whilst enabling growth and ease for business management. Sourcewiz has created a platform so useable that customers can create digital product catalogues within just 5 minutes. They can then share the product catalogues with buyers securely, to increase sales effectively.

Since being founded in 2020, the company has raised $5.5M in total funding. This money was made across just two funding rounds. The second of which was a Seed round that closed on the 29th of June, 2022.


7. Flatheads

Year Founded: 2019

HQ: Bangalore, India

Size: 11-50

Founders: Ganesh Balakrishnan, Utkarsh Biradar

Number seven on the list of the top startups from India to follow in 2023 is the e-commerce business Flatheads. The fashion market startup is designing and making shoes that are comfortable, lightweight and breathable. Flatheads has created a product to take the footwear industry by storm, as the lightweight design does not sacrifice the protectiveness of the shoe. There are other benefits to the smart design such as flexibility and ease to transport. Each part of the design was considered with the customer's ease in mind, from the one-time-lacing technology, to the breathability of the fabric.

The company's total funding amount currently stands at $1.7M. This was raised with support from eleven investors, including Radhika Ghai and Akshit Goyal.


8. Virohan

Year Founded: 2018

HQ: Gurgaon, India

Size: 101-250

Founders: Archit Jayasal, Kunaal Dudeja, Nalin Saluja, Paarul Dudeja

Virohan is a EdTech Indian startup working in corporate training and is worth watching through 2023. This top startup provides its customers with advanced industry demand-driven training programs, specialised in healthcare to students. Currently, Virohan's students have a 100% internship rate, showing the success of the courses. The top startup is making learning easier, as it allows students to be on the move whilst studying, as they can learn on a mobile phone through the myCareer app. Through Virohan, students can also get practical work experience whilst training with industry experts. This will help give students an edge when it comes to applying for a job.

Across the years, since being founded in 2018, the Indian startup has raised $11.9M in total funding. Virohan raised this with help from twenty-two investors which included LetsVenture and ALES Global Japan.


9. Bhanzu

Year Founded: 2020

HQ: Hyderabad, India

Size: 51-100

Founders: Khrishnakanth JSS, Neelakantha Bhanu Prakash, Prachotan DL, Srinivas Jonnalagadda, Uday Kiran

Bhanzu is the next top startup on the list of Indian companies to follow in 2023. This business was launched in 2020 within the Edtech industry, it also operates in the apps, education, and more specifically STEM education sectors. Bhanzu provides users with a platform for math learning that helps support careers in math and STEM fields.

The company has completed two funding rounds, raising a total funding amount of ₹1.3B. Bhanzu's first funding round took place on the 24th of February, 2022, and the latest funding round took place on the 21st of September, 2022.


10. Park+

Year Founded: 2019

HQ: Haryana, India

Size: 101-250

Founders: Amit Lakhotia

The tenth company on our list of the top startups to watch in 2023 is Park+. It works within the apps, internet, software, and parking industries, providing automated parking options. Park+ offers parking for corporates, hospitals, apartments, shopping centres, as well as other commercial establishments. This Indian startup not only offers parking solutions, but also a range of other services that have been designed to take drivers' anxiety away. Park+ also offers car wash, insurance, FASTag, car trade, and more. The business has made parking in corporate car parks easier, with technologies such as ANPR (Automatic Number Plate Recognition) and EV charging stations.

Park+ has raised a total funding amount of $54.3M since being founded in 2019. Its last funding round was closed on the 10th of January, 2023 and it was a Series C round.


11. Apnaklub

Year Founded: 2020

HQ: Bengaluru, India

Size: 11-50

Founders: Manish Kumar, Shruti Shruti

Apnaklub is a e-commerce marketplace for FMCG (Fast Moving Consumer Goods) procurement. The top startup from India uses its platform to connect brands and buyers, organising the market in just one platform. The benefits for the brands and buyers using the platform is the consistency and better margins that can be found on Apnaklub. There can also be a large range of brands to be found on the platform with free delivery and COD availability.

Since launching the platform, Apnaklub has raised a total funding amount of $19.3M. The most recent funding round was closed on the 12th of January, 2023, and was from a Series A round.


12. Vetic

Year Founded: 2022

HQ: Gurgaon, India

Size: 51-100

Founders: Gaurav Ajmera

Another top Indian startup to follow in 2023 is the veterinary business Vetic. It is a collection of clinics that pride themselves on innovation and compassion. Within the clinics, there is a range of services available for pet owners including consultations, grooming, home services, emergency care, vaccination, surgery, food and accessories, and medicines. All of these services can be accessed in one place, making Vetic the hub for all things pet-related, making pet care simpler for owners. The top startup also offers its customers a digital record to keep track of prescriptions and reports.

The total funding amount raised through funding rounds so far by Vetic is ₹300M. This money was raised with the support of eleven investors, including Lachy Groom.


13. Refyne

Year Founded: 2020

HQ: Bengaluru, India

Size: 101-250

Founders: Apoorv Kumar, Chitresh Sharma

Refyne is a financial services startup company from India. The Earned Wage Access platform was designed to get rid of financial stress within companies, by simplifying and improving personal finances. Refyne's salary on-demand service allows employees to access the salary that they earned when they need it most. The service allows employees to do this, without putting extra costs on the company. Refyne also provides company employees with access to financial coaching, so they can learn how to manage their money and make informed financial decisions, cutting out the stress.

The top startup's total funding amount is currently $105.1M. This was raised across just three funding rounds, the most recent of which was closed on the 11th of January, 2022. The three funding rounds have been supported by eight investors including RTP Global and XYZ Venture Capital.


14. Fello 

Year Founded: 2020

HQ: Bengaluru, India

Size: 1-10

Founders: Manish Maryada, Shourya Lala

Fello is a financial services startup that has created a savings and investment platform. The platform was designed to help customers to save, invest and earn higher returns than they would with a traditional savings account. The team designed Fello to disrupt the 'boring' financial service and savings industry, by implementing games into the savings process.

Since being founded in 2020, the top startup has raised $5M in total funding. This was made across three funding rounds, with support from seventeen investors, two lead investors. The latest funding round was closed on the 5th of January, 2023.


15. FuelBuddy

Year Founded: 2017

HQ: New Dehli, India

Size: 11-50

Founders: Adnan Kidwai, Divij Talwar, Gautum Malhotra, Sumit Narvar

Our next top startup on the list to follow in 2023 is the fuel delivery company FuelBuddy. The Indian startup has developed a platform that users can control and monitor their fuel usage on. Customers can download the FuelBuddy app, order the fuel, and have it delivered to them, to make the fuel delivery process that simple and easy. The company also offers diesel-on-tap, smart tanks, and buddy cans.

$24M total funding has been raised by FuelBuddy so far. This was made in three funding rounds, with help from five investors and four lead investors. FuelBuddy's most recent funding round was raised on the 23rd of January, 2023.


16. Jar

Year Founded: 2021

HQ: Bangalore, India

Size: 51-100

Founders: Misbah Ashraf, Nishchay Ag

The next Indian startup on the list to follow in 2023 is called Jar. It is an investment tech startup that helps its users to save money whilst investing in digital gold. Through the digital platform, Jar guarantees 100% purity, as with the partners SafeGold, customers can buy directly from a manufacturer. Customers can also have their digital gold delivered to them in the form of physical gold, this could be jewellery or coins. With digital gold, customers don't need to worry about their gold, as it is stored safely away from the home, so the worry of theft is managed. However, if a customer wants to convert their digital gold, they can do with just a click of a button.

Since 2021, this top startup has managed to raise $111.7M in total funding amount. The money was gained across six funding rounds, which were supported by thirty-five investors altogether. Jar's most recent funding round was raised on the 18th of August, 2022.


17. E-Feed 

Year Founded: 2021

HQ: Pune, India

Size: 11-50

Founders: Kumar Ranjan, Ravi Chauhan

E-Feed is an animal food supplier startup company from India. It is supplying food direct-to-farmer using a data-centric approach. The top startup provides nutritional animal feed for a variety of different species, using AI for efficient solutions. Predictive insights help to create feed recommendations to improve the yield of milk from cattle. The healthy nutritious animal feed is also designed to care for the planet, as the food encourages improved digestion and prevents excess methane emissions.

In just three funding rounds, E-Feed has raised $1.6M in total funding. The three funding rounds were supported by five investors.


18. Sugar.fit

Year Founded: 2021

HQ: Bengaluru, India

Size: 101-250

Founders: Madan Somasundaram, Shivtosh Kumar

Sugar.fit is the next company of the top Indian startups to follow in 2023. The company believes that diabetes is reversible and is working as a health tech startup to manage and reverse diabetes. Sugar.fit's first start to the process is constant monitoring of glucose, to understand the real-time levels when people eat, sleep, and exercise. Then, a consultation with an experienced doctor will develop a plan to help reduce the 'dependency' on medication.

The Indian startup has raised ₹730M in total funding since being launched in 2021. Sugar.fit raised this with help from three investors, in just one funding round that took place on the 2nd of September, 2021.


19. Virgio

Year Founded: 2022

HQ: Bengaluru, India

Size: 51-100

Founders: Amar Nagaram

Virgio is an Indian startup that was founded in 2022 and is based in Bengaluru, India. The company operates in the e-commerce market and offers a D2C prospect of fast, fashionable and high-quality clothes. The clothes are all manufactured by the brand and are made to be affordable to the end user.

The business has been active in securing startup funding, with a total of 1.4 Billion rupees being raised from fifteen investors since being founded.


20. Velocity

Year Founded: 2020

HQ: Bengaluru, India

Size: 11-50

Founders: Abrihoop Medhekar, Atul Khichariya, Saurav Swaroop

Velocity is an Indian startup that was founded in 2020 and is currently based in Bengaluru, India. The company operates in the FinTech market and provides finance specifically for online businesses, using their revenue to take into account affordability and the amount of finance the business can receive.

The company has secured a large amount of funding since being founded, with a total of $30.3 Million being raised from fifteen investors. The startup has also made twelve investments of its own.


21. Giga Fun Studios

Year Founded: 2022

HQ: Bengaluru, India

Size: 1-10

Founders: Krishnendu Mukherjee

Giga Fun Studios is a startup in India that was founded in 2022 and is based in Bengaluru, India. The company operates in the gaming market and develops a range of fun mobile games for its users. The size of the business continues to grow as it produces mobile games for more casual gamers in the country.

The business has been through a single round of startup funding since being founded, with this being a Seed Round that took place in January 2023. During this funding round, the business raised $2.4 Million from five investors.


FAQs

How Many Startups Are There in India?

There are currently more than 80,000 startups in India.

What is the Average Investment in Indian Startups?

The average Seed Round in India is worth $655,000 and the average Series A is worth $5 Million.

What Startup Industries Are The Strongest in India?

The best startup industries in India are FinTech and Life Sciences.

Top Indian Startups To Watch...
Asaf Fybish

As a growth marketing expert, Asaf helps startups driving scalable growth through data-driven strategies and innovative marketing techniques.

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