The Indian startup ecosystem has really grown out of its shell in the last few years. This is due to the fact that India has a large market which has invited massive funding, consolidation activities, and budding entrepreneurs. This is shown in the number of startups that originated in India, which has risen from 3000 in 2014 to 10k+ in 2020. This surely isn’t a trend that will fade away.
Due to this upsurge, many startups are evolving into a unicorn – billion-dollar companies. Today, we are looking at a few startups that have the potential to become unicorn in 2020.
Practo: This Bengaluru based health-tech startup was founded in 2008. It is a healthcare platform that connects patients with healthcare providers from around the globe. It is a one-stop platform to help people with all their healthcare needs – like finding the right doctor, diagnostic tests, managing health records and ordering medicines. The platform is live in 15 countries and over 50 cities. It has partnered with reputed institutes like as Max Healthcare, Manipal, Cloud9, etc. The startup claims to manage more than 50 Mn appointments annually on the platform.
ShareChat: ShareChat is a perfect example of pivoting your startup for a much better solution. The startup was founded in 2015 in Bengaluru as a content-sharing tool for WhatsApp, with users sharing about 100,000 content pieces every day. Gradually, it evolved into a regional, language-driven social networking platform. The platform allows it’s users to create, share, and discover new content just like Tumblr and Instagram. But it does so in 14 regional languages like Tamil, Telugu, Marathi, Odia, Assamese, Bengali, Kannada, etc. The platform currently has 35 million active users per month; this is a lot considering Snapchat has close to 50 million.
Xpressbees: This eCommerce logistics startup came out as a baby product retailer, FirstCry. The startup is known to provide services such as last-mile delivery, reverse logistics, payment collection, drop shipping, vendor management, cross-border services, etc. This has increased the popularity of the company as it claims to deliver products in more than 1100 cities and towns across India. Xpressbees is still very young as it was founded in Pune in 2015, but it has some big names clients such as Snapdeal, Paytm, and Flipkart. It is expected that the startup will grow exponentially in the coming years.
Car Dekho: This Jaipur based startup is among the first that started the online automobile website. It has more than 4000 active dealers in India, with more than 500 offering financing services for used cars. Recently the startup reported a surge in the company business, as they reported $35.1 Mn (INR 660 Cr) in revenue in 2019, which is almost 100 Cr more from 2018. The company is currently valued above 700 Mn dollars, but with if their revenue trend increase, they are expected to hit a billion dollars in 2020.
Grofers: Grofers is an online grocery platform that was founded in Delhi/NCR in 2013. The platform offers products such as groceries, fruit and vegetables, beauty and wellness, household care, and baby care, etc. Currently, the startups offer their delivery in 13 cities in India. The startup claims to take nearly 25,000 orders every day, with an average basket size of $21.5 (INR 1,400). In early 2017, Grofers signed a pan-India partnership with Reliance Fresh to help it set up offline stores. Moreover, the company has already crossed 100K subscribers in the first two months of its loyalty program. The startup is currently valued at 350 Mn dollars, but it is a dark horse to reach the unicorn club soon.
So, these were some of the budding Indian startups that have the potential to reach unicorn in 2020. All of these are from different fields, and if you get any opportunity in these startups, grab it with both hands as the future looks clear for these five startups.