This is the era of startups in India.India being a faster-growing economy has a prolific amount of consumers today who are ready to expand their choices and lay out their money on the new products and services coming up.
So,it’s the right market place to invest on and set up new start-ups.
Let’s have a keen look at some startup ideas that are already burgeoning in India.
OLA CABS
Ola was a collective approach of Bhavish Agarwal and Ankit Bhati which mainly started as a cross-city cab aggregator company.Ola cabs entered the market in 2010 and in no time it was competing with Uber and Meru Cabs.By 2014 Ola held over 60% of market share in India and by 2015 it expanded to around 50 cities across the country.
However,Ola’s journey was not as ducky as it seems. In 2012 Ola faced a website failure and in 2016 they faced a huge competition from TaxiForSure which was later on bought by Ola.
Today, Ola is leading the cab service market in India beating Uber, its biggest rival.
ZOMATO
Zomato was started by two employees of Bain & Co in New Delhi,Deepinder Goyal and Pankaj Chaddah. Initially it was set up in Delhi and soon its services expanded to Mumbai,Kolkata,Bangalore and Chennai.
The company received a funding of over US$ 1 million and then a huge amount of US$ 3.5 million in the year 2010 from Info Edge.
In the years ahead Zomato saw a rise in its funding from different investors.
The total funding it received by 2018 was around US$ 150 million.
By 2013 the company expanded its services overseas in Turkey,UAE,UK,Sri Lanka, Philippines, Brazil and New Zealand. It also acquired the American service, NextTable, and entered the US Market’s competition.
Today Zomato is among the best startup ideas in India
that has turned into the leading food delivery system across the country.
PAYTM
Paytm was founded in 2010 by Vijay Shekhar Sharma. It was initially started with the purpose of providing online mobile recharge and bill payment service but now one can use it to book flights, transfer funds, pay electricity bills, and whatnot. It was funded by Alipay,SAIF Partners and Silicon Valley Bank.
It is a completely secure and healthy payment option approved by the Reserve Bank of India. Paytm has completely revolutionized the payment methodology in the country and has a huge contribution towards making India a cashless and a digital nation.
FLIPKART
This startup by Binny Bansal and Sachin Bansal flourished in the Indian market in just 11 years. It initially began as an online bookstore in 2008 with a sum of about $6000.Today we can shop almost anything from large appliances to stationaries from this online application. In 2018 ,Flipkart was acquired by Walmart and since then it has expanded its range of products and services. Flipkart is now the largest
E-commerce platform in India along with Amazon.
BYJU’S
Byju’s was started by Byju Raveendran,a teacher, and an entrepreneur. It’s the world’s largest EdTech brands that provide online study material and courses for Class VI to Class XII and various Indian competitive exams like CAT,UPSC, GRE, etc.
Byju’s was funded by General Atlantic,Tencent, Qatar Investment Authority, Canada Pension Plan Investment Board, and others. Today this Indian startup has more than 35 million registered subscribers and around 3 million annual paid subscribers.