India, being a developing nation is witnessing a significant increase in the number of startups & their stories have paved the way for all the budding entrepreneurs & motivated them to scratch their brains for innovative ideas.
Some fast-growing startup stories which brought in a new wave of energy in the Indian startup ecosystem are given below:
Founder- Vijay Shekhar Sharma
Year- August 2010
Paytm is an Indian e-commerce company providing a platform to make digital payments through Paytm wallet.
Today, Paytm is India's largest mobile payment service with over 150 million wallets & is authorised by the Reserve Bank Of India. Initially, it's journey started with providing news, ringtones, jokes & cricket scores & changed in 2010. The entrepreneur got inspiration when during his visit to China he saw vegetable vendors using their mobile phones to receive payments. Thus, Paytm wallet was established in 2013 with no turning back. Now, large companies like Alibaba are investing in Paytm.
Founders: Sachin Bansal and Binny Bansal
Flipkart is India’s fast-growing e-commerce marketplace providing over 30 million products covering an extensive range of products. Some call Flipkart as Indian Amazon. Flipkart started by selling books in 2007 & now they sell almost everything. Flipkart now stands in the top five global start-ups with a valuation of $ 11 billion.
Founders: Bhavish Aggarwal & Ankit Bhati
Year: December 2010
Ola Cabs is India's most popular mobile app for transportation. It believes in understanding the local dynamics & specifically searching for solutions suitable according to the conditions of the Indian market. It serves the need of a lot of people & has gained much fame recently.
Founder: Deep Kalra
Headquarters: Gurgaon, Haryana
MakeMyTrip, an Indian online travel company recognised as one of India's best travel portals, strives to provide online travel services like flight tickets, domestic and international holiday packages, hotel reservations, rail and bus tickets, etc.It is spread across 50 cities in India with 65 retail stores. They focussed on the inbound market as the market in India was ready to browse, but not to buy.
CEO & Co-founder: Radhika Agarwal
Shopclues aims at providing a pleasant shopping experience to people with a wide variety, low prices, fast delivery & best customer service. They want to expose the merchants to the e-commerce platform to empower them.
Founder: Ritesh Agarwal
OYO is India’s largest branded network of hotels which operates at over 200+ locations. Mainly metro cities, top leisure destinations & pilgrimage towns. He came up with Oravel in 2012 but pivoted to OYO Rooms in 2013 due to high hospitality budget & lack of affordability by people.
Co-founders: Deepinder Goyal and Pankaj Chaddah
Zomato is a food delivery app enabling consumers to discover, rate & review restaurants globally. Apart from this, table reservations & point-of-Sale are also offered to provide an edge over the rest.
It covers around 3.5 lakh restaurants in 19 countries.