India has achieved new heights past year and is continuing to gain heights at present as well. These new ideas are becoming successful because of technology, and artificial intelligence, and this country’s audience adopting these technologies fast. If we look at the previous stats of our country’s startup, It has made nearly 111 unicorns. From actors and actresses to youngsters, everyone in the country has innovative ideas and they have made their ideas turn into reality with the help of little funding made by investors and small marketing strategies.
Talent and startup ideas are at every corner of the country. That’s why the Indian government has also taken the “Startup India Initiative”. This initiative is helping young minds showcase their talents by taking part through colleges or single person only.
List of Top 10 Profitable Startups of India
Here is the list of Top 10 Profitable Startups of India . Let us talk about each one of them in detail:
BillDesk, previously known as IndiaIdeas.com Limited, is a leading Indian online payment gateway company based in Mumbai. BillDesk provides an online payment platform for clients, enabling transactions between banks and merchant websites. They support over 150+ payment methods, including cards, net-banking, UPI, wallets, and Buy Now Pay Later, for accepting payments on websites or apps. They enable businesses to set up recurring payments using cards, eNACH, or UPI AutoPay.
Market Presence
- BillDesk is a leading BBPOU in the Bharat Bill Payment System (BBPS), facilitating bill payments for millions of users across India.
- Over the years, they have developed a strong network of partnerships with banks and payment networks.
Last Two Years Balance Sheet
- FY22: BillDesk’s revenue from operations grew by 15% to ₹2,443 crore, compared to ₹2,124 crore in FY21. However, due to a surge in expenses, the profits contracted by 39% to ₹149.6 crore in FY22 from ₹245.5 crore in FY21.
- FY21: The revenue from operations for BillDesk in FY21 was ₹2,124.2 crore, a growth of 17.7% compared to FY20. The profit for FY21 was ₹245.6 crore, a 16.3% increase from the previous fiscal year.
BillDesk Founders
1. M.N. Srinivasu
As CEO and co-founder, Srinivasu played a pivotal role in shaping BillDesk’s vision and strategy. He brings extensive experience in the financial services industry, having worked with Arthur Andersen and ITC Limited before diving into the world of tech startups.
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2. Ajay Kaushal
Ajay, COO and co-founder, is the mastermind behind BillDesk’s smooth operations and efficient infrastructure. With prior experience in SBI Capital Markets and Arthur Andersen, Ajay’s expertise in project management and scaling up systems ensured BillDesk’s technical robustness and operational excellence.
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3. Karthik Ganapathy
Karthik, co-founder, laid the foundation for BillDesk’s technological prowess. His background in technology, honed at Arthur Andersen, was instrumental in building the secure and reliable platform that underpins BillDesk’s entire operation.
Mamaearth is a popular Indian brand known for its natural and toxin-free beauty and personal care products.To “make the world a healthier and happier place” by providing safe, effective, and affordable natural products for the whole family, especially babies and moms. Covers various categories like skincare, haircare, body care, makeup, baby care, and even household products.
Popular Products:
- Ubtan Face Wash: Made with turmeric and saffron, promotes healthy skin.
- Onion Hair Oil: Helps reduce hair fall and promote hair growth.
- Coco Milk Shampoo: Nourishes and conditions hair for a natural shine.
- Mineral Sunscreen: Safe for babies and adults, protects against sun damage.
- Happy Heads Shampoo & Conditioner: Gentle and natural for babies’ delicate hair.
Market Presence:
- Leading natural beauty brand in India with a strong online and offline presence.
- Exports to over 20 countries worldwide.
- Active on social media, engaging with customers and promoting healthy living.
Last Three Years Balance Sheet:
- FY23: Revenue further increased to ₹1,493 crore, but profits dwindled to ₹4 crore due to rising expenses.
- FY22: The revenue continued to grow, reaching ₹943 crore, and profit stood at ₹14 crore.
- FY21: Revenue increased significantly to ₹461 crore, and the company turned profitable with a post-tax profit of ₹24.6 crore.
- FY20: Revenue of ₹109.8 crore and a loss of ₹5.92 crore.
MamaEarth Founders
1. Ghazal Alagh
The driving force behind Mamaearth’s vision and strategy. A former financial analyst, Ghazal’s entrepreneurial spirit and passion for natural products led her to create Mamaearth after facing difficulties finding safe and toxin-free baby products for her son.
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2. Varun Alagh
Ghazal’s strategic counterpart, Varun brings expertise in operations and management. He oversees the company’s supply chain, logistics, and financial aspects, ensuring smooth functioning and scalability
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Gupshup is a leading Conversational Messaging Platform (CMP) enabling businesses to connect with customers through chatbots, voice assistants, and other messaging channels.To make every conversation matter. Gupshup aims to empower businesses to deliver richer, more personalized experiences across various touchpoints through conversational messaging.
Market Presence:
- Over 6 billion messages processed monthly across millions of businesses globally.
- Strong presence in emerging markets like India, Southeast Asia, and Latin America.
Last Three Years Balance Sheet:
- FY20: The net profit was INR 36.5 crore.
- FY21: The company’s net profit jumped over 43% to INR 52.5 crore.
- FY22: Gupshup’s revenue crossed INR 1,000 crore, but the net profit narrowed to INR 40 crore, primarily due to a significant increase in expenses.
Gupshup Founder
1. Beerud Sheth
In 2007, Beerud saw the potential of conversational messaging and co-founded Gupshup with a vision to make every conversation matter.Originally from India, Beerud studied engineering at IIT Bombay before pursuing an MBA at Columbia Business School.
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Infra.Market is a leading con-tech (construction technology) company in India, aiming to revolutionize the traditionally fragmented and inefficient construction industry.To rebuild the future of construction by leveraging technology and innovation to bring transparency, efficiency, and affordability to the entire building process.Offering high-quality, cost-effective building materials under their own brands like Buildmate and Structura.
Market Presence and Impact:
- Over 500,000 registered users, including contractors, architects, builders, and developers.
- Extensive network of over 1,000 suppliers and manufacturers across India.
Last Three Years Balance Sheet:
- FY20: The company generated revenues of Rs 351 crore.
- FY21: Infra.Market’s revenue surged to Rs 1,243 crore, and profits increased 4X compared to the previous fiscal year.
- FY22: The revenue increased significantly to Rs 6,236 crore, and profits surged 6X.
Infra Market Founders
1. Souvik Sengupta
Souvik acts as the CEO, his strategic mind driving Infra.Market’s overall direction and growth. He brings to the table a wealth of experience in e-commerce and supply chain management, honed through his earlier ventures like Equiphunt and Chemical.
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2. Aditya Sharda
Aditya, the COO, embodies the entrepreneurial spirit and visionary leadership at Infra.Market. His deep understanding of the construction industry, gained through a decade of experience, allows him to identify critical pain points and tailor solutions accordingly.
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Shiprocket is India’s largest e-commerce enablement platform, streamlining shipping fulfillment for a multitude of online businesses. Easily manage and ship multiple orders with automated processing and label generation.Monitor shipment progress for all orders across different couriers in one place.
Market Presence:
- Over 25,000+ active sellers trust Shiprocket for their shipping needs.
- Extensive reach across 24,000+ pin codes in India and 220+ countries globally.
- Recognized for innovation and customer service, winning awards like “Best Shipping Platform” and “Startup of the Year.
Last Three Years Balance Sheet:
- FY20: The company’s revenue details for this fiscal year were not available in the sources I found.
- FY21: Shiprocket’s operating revenue grew significantly to Rs 358.01 crore, a 122% increase from the preceding fiscal year. They posted a profit of Rs 12.47 crore during this fiscal year.
- FY22: The company’s revenue continued to grow, reaching approximately Rs 611 crore, which was around a 71% increase from FY21. However, Shiprocket slipped into losses, posting a loss of Rs 93 crore in FY22
Shiprocket Founders
1. Saahil Goel
The CEO and driving force behind Shiprocket’s vision and strategy. A data-driven leader with extensive experience in e-commerce logistics and technology, Saahil’s vision of simplifying shipping for online businesses has fueled the company’s growth.
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2. Gautam Kapoor
He is responsible for Shiprocket Fulfillment, a dedicated arm offering warehousing and fulfillment solutions for e-commerce businesses. Gautam’s expertise in supply chain management ensures seamless execution of order fulfillment processes.
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3. Vishesh Khurana
The co-founder who played a crucial role in Shiprocket’s early days, laying the foundation for its technological infrastructure and building strong relationships with courier partners. While Vishesh has transitioned to other ventures, his contributions remain integral to Shiprocket’s success.
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To bring the world closer” by simplifying travel booking and experiences.2008 by Nishant Pitti, Prashant Pitti, and Rikant Pitti, a passionate trio of brothers. Online and offline booking platforms for air tickets, hotels, holidays, train tickets, buses, cabs, and activities.Extensive reach across India, catering to both leisure and business travelers.
Products and Platforms:
- EaseMyTrip Deals: Curated offers and discounts on flights, hotels, and packages.
- EaseMyTrip Partner Network: Collaborations with airlines, hotels, and other travel providers to offer competitive prices and deals.
- EaseMyTrip Corporate: Tailored solutions for business travel management.
- EaseMyTrip website and mobile app: User-friendly interfaces for hassle-free booking of various travel services.
Market Presence
Extensive branch network of over 85,000 agents across India, bridging the gap between online and offline booking.
Last Two Years Balance Sheet:
- FY20: The revenue and profit details for this fiscal year were not available in the sources I found.
- FY21: EaseMyTrip reported a revenue of Rs 106.69 crore and a profit after tax of Rs 61 crore.
EaseMyTrip Founders
1. Nishant Pitti
Drives the overall vision and strategy of EaseMyTrip, overseeing major decisions and operations.Holds a bachelor’s degree from Delhi University and possesses over 11 years of experience in the travel industry.
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2. Rikant Pitti
Offers valuable insights and contributes to strategic decision-making within EaseMyTrip.Has experience in various industries, including technology and finance.
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Nykaa is an Indian beauty and fashion retailer founded in 2012 by Falguni Nayar. It is India’s largest beauty retailer, with over 1,000 stores across the country. Nykaa also has an online presence, with a website and mobile app that offer a wide range of beauty products, including cosmetics, skincare, haircare, and fragrances.
Market Share:
- Over 1,000 stores across 70+ cities, covering a significant portion of the Indian market.
Last Three Years Balance Sheet:
- FY21: The specific profit/loss details for FY21 were not available in the sources I found.
- FY22: Nykaa’s revenue was Rs 3,774 crore.
- FY23: The company’s gross revenue increased by 36.3% to Rs 5,144 crore. However, profits contracted by 49% to Rs 21 crore compared to Rs 41.3 crore in FY22.
Nykaa Founders
Falguni Nayar
The founder of Nykaa is Falguni Nayar, a visionary entrepreneur who transformed the Indian beauty landscape. Falguni, a former investment banker, recognized the need for a curated and accessible beauty platform catering to the diverse needs of Indian women.
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“To simplify sports for fans” by offering engaging fantasy sports platforms for different sports. Founded in 2008 by Harsh Jain and Bhavit Sheth, it has become India’s largest fantasy sports platform.Covers Cricket, Football, Kabaddi, Basketball , Hockey , Handball, Volleyball, Rugby, Futsal, American football and baseball.
Market Share:
- Over 100 million users: Holds a massive user base, accounting for about a quarter of India’s internet users.
Last Three Years Balance Sheet:
- FY20: Dream11’s revenue was Rs 2,070.4 crore, and the company posted a profit of Rs 180.8 crore.
- FY21: The revenue grew by 53% to Rs 2,554.4 crore, and the profit increased significantly to Rs 327.1 crore.
- FY22: The gross revenue crossed Rs 4,000 crore, marking over 50% growth. However, the profit shrank by 56% to Rs 142 crore
Dream 11 Founders
1. Harsh Jain
Oversees the company’s overall strategy, operations, and direction. Graduated from the University of Pennsylvania and Columbia Business School with degrees in engineering and MBA.
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2. Bhavit Sheth
Manages the company’s day-to-day operations and internal functioning. Studied engineering at IIT Bombay and pursued an MBA at Bentley University.
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Zoho is a leading global technology company offering a vast array of software solutions for businesses of all sizes. Founded in 1996 by Sridhar Vembu and Manikandan Lakshmanan, Zoho has steadily grown into a powerhouse with over 50 million users in over 160 countries.
Market Share:
- Varies depending on the specific product category. For example, Zoho CRM holds a 5.79% market share in the lead management software market, competing with giants like Salesforce and HubSpot.
Last Three Years Balance Sheet:
- FY20: Zoho’s profit was approximately Rs 801 crore.
- FY21: The company’s profit increased significantly to around Rs 1,918 crore.
- FY22: Zoho’s profit further rose to over Rs 2,700 crore, demonstrating strong growth.
Founders
1. Sridhar Vembu
He continues to helm Zoho, shaping the company’s overall strategy and direction. Published a book titled “Building Zoho: From Product to Movement” about his entrepreneurial journey and Zoho’s unique culture.
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2. Tony Thomas
Tony G. Thomas: He was instrumental in the early technical development of Zoho and served as CEO from 1996 to 2000. He remains actively involved in the company and holds the title of Chief Evangelist.
3. Sreenivas Kanumuru
He is best known for his work on vTiger, a popular open-source CRM software that was later acquired by Zoho. He also played a significant role in the development of Zoho CRM and continues to contribute to the company’s growth.
Zerodha is a leading online stock broker in India, known for its low brokerage fees and user-friendly platform .Founded in 2010 and headquartered in Bangalore, India, with over 12 million customer accounts. A prominent Indian FinTech company offering discount brokerage for equity, derivatives, and mutual funds. Invest in stocks and ETFs through a flat brokerage fee of INR 20 per order, regardless of order size.
Market Presence:
- Over 1 crore (10 million) active clients, contributing to 15% of daily retail order volumes in India.
Last Three Years Balance Sheet:
- FY20: Zerodha’s profit was Rs 442.36 crore, as reported by Entrackr.
- FY21: The profit increased significantly to Rs 1,122 crore.
- FY22: Zerodha’s profit further jumped by 86% to Rs 2,094 crore.
Founders
1. Nithin Kamath
He is a well-known figure in the Indian financial community and regularly shares insights and commentary on the stock market.
- Beyond Zerodha, Nithin is also actively involved in tackling climate change through his co-founding and support of the Rainmatter Foundation, which focuses on rewilding, sustainable food systems, and empowering green livelihoods.
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2. Nikhil Kamath
He is also active in the industry and offers valuable perspectives on trading and investing.
- Hosts two main podcasts that offer valuable insights into the world of finance, business, and beyond.Deep dives into the lives and journeys of high-performing individuals, discussing their personal development strategies, mental models, and approaches to success
Nikhil Kamath’s “WTF” podcast: Deep dives into diverse topics like tech, business, social issues, and personal insights, featuring AI, EVs, startups, mental health, entrepreneurship, and more. Thought-provoking conversations with experts and friends. Available on YouTube, Spotify, Apple Podcasts, etc.
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Conclusion
In the above blog, we have seen about the 10 best different categories of startup companies which have gained immense success, whether it is in fashion or medical or teaching students to build their future with TeachNook, or playing sports in a fantasy world of our choice with Dream 11. All these companies have seen many hardships when they had started their businesses and now they are unicorns of their field and playing an important role in our country’s GDP.
Top 10 Startups of India – FAQs
1. What is the “Startup India Initiative” by the Indian government?:
The Startup India Initiative is a government program designed to promote and support startups in India The main aim is to create a conducive environment for these new businesses to thrive by offering various incentives, financial support, and regulatory reforms.
2. What is the primary business of Meesho?
Meesho is an online shopping platform that connects traders, customers, and resellers. It primarily operates through social media platforms like Facebook and Instagram.
3. What additional service did Swiggy offer aside from food delivery?
In addition to food delivery, Swiggy also provided on-demand grocery deliveries under the name of another startup called Instamart.
4. What services does Groww offer to its customers?
Groww is an online brokerage company that offers services related to IPO investments, mutual funds, digital gold, stocks, and mutual funds.
5. What is the fundamental mission of Chai Sutta Bar, and what distinguishes its tea?
The goal of Chai Sutta Bar is to help people fall in love with tea. They serve tea in “kulhad” cups for a genuine Indian flavor.
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