India’s Top and renowned Startups – Part 2

India’s Top and renowned Startups – Part 2

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Policybazaar: – Policybazaar is India’s largest online platform for analyzing, comparing and buying insurance, based on price, quality, and other key features. It was started in June 2008 in Gurugram, Haryana by Yashish Dahiya, Alok Bansal and Avaneesh Nirjar.

Yashish Dahiya is the CEO of Policybazaar. He is IIT, Delhi alumni, a Post Graduate Diploma in Management from IIM Ahmedabad, and an MBA from INSEAD. He is also a national-level swimmer and triathlete himself. Yashish Dahiya is also an investor and founder of paisabazaar, which provides the market for fixed deposits and loans at your fingertips.

Alok Bansal is also an alumnus of IIM Kolkata. Prior to Policybazaar, he worked as finance director at First Europa, senior Manager – Corp Strategy at Mahindra & Mahindra and business manager at iGate Global Solutions.

Avaneesh Nirjar is also an Alumni of IIT Kharagpur and MBA from Birla Institute of Technology. Prior to PolicyBazaar, he worked with companies like Marico Industries, AT&T India, GE Capital International Services, Heroites, Cendant ISO and First Europa.

Policybazaar is a single largest insurance distributor in India and it is consistently growing at 100% since inceptions. It has over 100 million visitors a year (about 273,973 visitors in a day and about 11,416 visitors every hour); 400,000 insurance policies sold every month (nearly 555 people are being protected through us every hour). In 2014, policybazaar targeted to reach 10 million customers by 2020 and they accomplished that target in FY 2019, with a year to spare.

Policybazaar raised $ 238 Million in June 2018 in a round led by Softbank.

Bigbasket: – Bigbasket is the largest online grocery supermarket in India. It was launched in 2011 and founded by Hari Menon (alumnus of BITS Pilani), VS Sudhakar, VS Ramesh (engineering graduate), Vipul Parekh (alumnus of IIM Bangalore) and Abhinay Choudhari (alumnus of IIM Ahmedabad)

Bigbasket was launched in 2011, but its journey had begun much earlier. It was in the year 1999, VS Sudhakar, Hari Menon, Vipul Parekh, Abhinay Choudhari and VS Ramesh launched their online retail business called ‘Fabmart’. The business was quite well and later physical retail malls called Fabmall were launched in various locations in South India. Later on the business was eventually sold to the Aditya Birla Group and now it is known popularly as ‘More’ retail chain. After that once again they all came together and launch Bigbasket in 2011. Bigbasket currently has revenue of around $3.2 million and approximately 4,000 employees. Bigbasket currently offers more than 18,000 products across various categories and features more than 1000 brands in its catalog.

Bigbasket has received funding worth around $526 million. The investors include Alibaba Group, Abraaj Group, Ascent Capital, Bessemer Venture Partners, Brand Capital, Helion Venture Partners, LionRock Capital, Paytm Mall, Sands Capital Management, Sands Capital Ventures, Trifecta Capital and Zodius Capital.

Cars24: – Cars24 is India’s fastest growing tech-enabled marketplace for buying and selling used car company, founded in 12th August 2015 by Vikram Chopra, IIT Mumbai & MBA in Finance at The University of Pennsylvania and Mehul Agrawal, IIM Calcutta. Earlier Vikram Chopra was the co-founder at FabFurnish, online furniture, and furnishings retailer, which was sold to Kishore Biyani’s Future Group.

Cars24 enables car owners to sell their cars within two hours of a single visit to one of the many Cars24 branches, with instant payment into their bank accounts. The company, in turn, sells these cars online through its proprietary auction platform to businesses across India dealing in pre-owned cars.

The used-car business is a $20-billion market in India, growing at 25 percent year-on-year. In terms of units, 30-35 lakh used cars get sold every year, whereas only 20 lakh new cars are bought every year

Dream11: – Dream11 is India’s biggest fantasy sports gaming platform was founded in 2008 by Harsh Jain, MBA from Columbia Business School and Bhavit Sheth, Engineer with an MBA from Bentley University, Boston and a Diploma in E-commerce strategies from Harvard. Dream11 allows users to play fantasy cricket, hockey, football, kabaddi, and basketball.

Presently around 5o Million users playing Fantasy Cricket, Football, Kabaddi, Basketball & Hockey. It is a Game of Skill that offers Indian sports fans a platform to showcase their sports knowledge. Fans can create their own team made up of real-life players from upcoming matches, score points based on their on-field performance and compete with other fans. In April 2019, Dream11 became the first Indian gaming company to enter the ‘Unicorn Club’.

The company also made it to the list and ranked 9 among India’s Great Mid-Size Workplaces – 2018. Dream11 was also recognized as one of the top 10 innovative companies in India by Fast Company in 2019. In 2018, Dream11 announced its partnership with ICC (International Cricket Council), Pro Kabaddi League, International Hockey Federation, WBBL and BBL. In March 2019, The Board of Control for Cricket in India (BCCI), announced Dream11 as the Official Partner for the VIVO Indian Premier League.

To be continued…

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