India’s Top and Renowned Startups – Part 4
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India’s Top and Renowned Startups – Part 4

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PhonePe: – PhonePe is an Indian e-commerce digital payments startup and digital wallet company, founded in December 2015 by Sameer Nigam, Rahul Chari and Burzin Engineer. PhonePe app went live in August 2016 and was the first payment app built on Unified Payments Interface (UPI).

PhonePe is formerly known as FX Mart Pvt Ltd. FX Mart received its license to operate on 26 August 2014. In April 2016, the company was acquired by Flipkart and as a part of the Flipkart acquisition, the FX Mart license was transferred to PhonePe and it was rebranded as the PhonePe wallet.

Within 3 months of launch, the app was downloaded by over 10 million users. In 2018, PhonePe also became the fastest Indian payment app to get a 50 million badge on the Google play store. The PhonePe app overtook BHIM to emerge as the market leader in UPI transactions in August 2017.

Flipkart: – Flipkart is an e-commerce company, founded by Sachin Bansal and Binny Bansal on September 15, 2007; both are IIT, Delhi alumni. They started this startup from 2 room set and the company initially focused on book sales. In 2010, the company starts selling products such as music, movies, and mobile phones. These categories later expanded into the lifestyle and fashion products in 2012. As of September 2019, Flipkart advertises that it offers more than 80 million products in 80 product categories. Flipkart also owns PhonePe, a mobile payments service based on the Unified Payments Interface (UPI). In 2016, Flipkart acquired the online fashion retailer Jabong.com and in August 2018, U.S.-based retail chain Walmart acquired a 77% controlling stake in Flipkart for US$16 billion, valuing it at $20 billion.

Swiggy: – Swiggy is India’s largest online food ordering and delivery portal, founded in August 2014 by Sriharsha Majety, IIM Calcutta alumni, Nandan Reddy, BITS Pilani alumni, and Rahul Jaimini, IIM Kharagpur alumni. They started Swiggy with a team of six delivery personnel and covering 25 restaurants. After that, they never look back as the idea became a huge hit. As of March 2019, Swiggy was operating out of 100 Indian cities. In early 2019, Swiggy expanded into general product deliveries, under the brand name Swiggy Stores.

In September 2019, Swiggy launched instant pick up and drop service Swiggy Go. The service is used to pick up and drop off a diverse array of items, including laundry and document or parcel deliveries to business clients and retail customers.

Udaan: – Udaan was founded in 2016 by former Flipkart employees Amod Malviya, Vaibhav Gupta, and Sujeet Kumar. Udaan was registered as Hiveloop Technology Pvt Ltd in June 2016; launched a pilot product in November 2016 before a full rollout in June 2017.

Udaan connects manufacturers and wholesalers with retailers online and also supports payments and logistics. The e-commerce startup has more than 150,000 buyers and sellers from 29 states on its platform, enabling small- and medium-sized businesses to do business directly with manufacturers. In September 2018, the company had become the fastest Indian startup to reach unicorn status in merely 26 months of registration. Udaan currently picks up products from manufacturers and sellers in 80-100 cities and delivers across 800 cities and towns across the country.

This is not the end, it’s just a beginning. Daily we can see a new startup in the market as India startup ecosystem is the 3rd largest in the world so now the environment has been created by the government. Most of the startups are entered in unicorn group and some are in queue to enter. It was really a great initiative by the government of India. Every day startup India program is making history.

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