Due to its entrepreneurial spirit, technical advances, and supporting ecosystem, India’s startup ecosystem is poised for exponential expansion. Learn about top 10 startups to watch for in 2024.
Over 1,12,718 DPIIT-recognized startups in 763 districts make India the 3rd largest startup ecosystem in the world as of October 3, 2023. India is #2nd in innovation quality among middle-income nations, having high scientific publications and universities. Innovation in India spans sectors. In India’s startup ecosystem, 2024 promises rapid change and transformation. Startups in India are primed for exponential growth because to a strong entrepreneurial spirit, advanced technology, and a supportive ecosystem.
Here are Top 10 startups to watch for in 2024:
1) GoKwik: eCommerce Enabler
Headquarter: Gurugram
Year founded: 2020
What They Do: GoKwik is an eCommerce enablement company that helps eCommerce brands provide a seamless shopping experience to customers, expand COD penetration across cities and towns, reduce partner RTO, and ensure overall growth through conversational commerce across the funnel using WhatsApp. GoKwik’s deepest network data of 100 million shoppers has helped 500+ businesses increase conversions, reduce RTO, and boost GMV and prepaid success rate, improving their growth potential. GoKwik boasts 100 million shoppers and an address pre-fill rate of up to 85%, providing the fastest checkout experience. GoKwik also offers numerous discount options, split COD payments, and RTO risk information to boost conversions, GMV growth, and most critically.
2) Pee-Safe: Your intimate care partner
Headquarter: New Delhi
Year founded: 2013
What They Do: Pee Safe promotes intimate and personal hygiene discussions. In 2013, the Gurugram-based platform launched a toilet seat sanitizing spray to prevent UTIs and other diseases in public restrooms. The platform is a fast-growing feminine hygiene business featuring toilet, menstrual, and sexual health categories. Raho Safe, a sub-brand of Pee Safe, promotes menstrual hygiene in tier 3 and 4 cities of India with cheap sanitary pads. Pee Safe sells menstrual cups, panty liners, and intimate washes. Without animal testing, Pee Safe products are cruelty-free.
3) Poshn Revolutionizes Wholesale Commodity Trade
Headquarter: New Delhi
Year founded: 2020
What They Do: Poshn pioneered agritech by streamlining wholesale trading. Poshn connects wholesale buyers with millers and stockists via full-stack services. Their revolutionary strategy targets B2B ecosystem inefficiencies, saving SMEs money. Poshn uses a unique AI algorithm to split demand demands and match them with numerous suppliers for optimal results. This cuts trading time from weeks to minutes. The platform’s top-line technology layer uses AI and machine learning clusters for pricing discovery, reverse auctioning, and fulfillment partner matching. Poshn has grown swiftly with $6 million from Prime Venture Partners and Zephyr Peacock India. The platform earned INR 510 crore last year, with a monthly run rate of INR 60 crore. Poshn wants to be a $1 billion ARR platform in 4-5 years for worldwide customers.
4) Fyllo: IoT/AI Empowering Farmers
Headquarter: Bangalore
Year founded: 2019
What They Do: Fyllo, a leading agritech firm, tripled sales in FY23. Farmers’ significant use of data and analytics has lowered costs and enhanced crop yields, driving this expansion. Fyllo wants to bring crop insurance and develop data-driven agriculture solutions as part of its comprehensive approach. IoT devices from Fyllo help collect real-time data on soil moisture, weather, and crop health. Fyllo has helped over 5,000 farmers with over 4,000 devices on 34,000 acres and 14 crop varieties. Farmers utilizing Fyllo devices have seen 25-50% income growth and 25% input cost savings. Fyllo uses AI in several applications. Many uses include weather prediction with a detailed farm-level model, crop health assessment and stage identification using satellite data, and disease and pest prediction. A powerful system with over 180 machine-learning algorithms provides insights on crops, diseases, and climate from Fyllo’s 2 billion data points.
5) Veera Browser: Indian mobile-only browser
Headquarter: Mumbai
Year founded: 2021
What They Do: Speed and safety are its foundation. Veera is India’s first mobile browser with all the features of desktop browsers but adapted for smartphones. Veera wants India’s 1 billion smartphone users to have a fast, safe, and private internet. The Veera team, which has established and financed digital startups in India, understands internet user pain issues better than anyone and has leveraged its knowledge to produce a better browser for tech-savvy Indian users. Veera blocks all known third-party ad servers and does not divulge user identification, allowing individuals to browse the internet without privacy concerns. Few browsers block trackers globally, but Veera blocks third-party trackers, advertisements, autoplay videos, and more by default on Android and soon on iOS and Windows.
6) Seracle: Web3 gateway
Headquarter: Pune
Year founded: 2018
What They Do: Seracle is a leading blockchain technology startup that develops unique Web3 ecosystem solutions. Seracle offers many blockchain-based goods and services with compliance, security, and seamless user experiences. Seracle promotes blockchain technology across industries via on-chain KYC solutions and developer-friendly tools. Discover House of Web3 and the application process. Seracle maintains a Riyadh office to manage Saudi Arabia and other Middle Eastern operations.
7) Pop: India’s Top E-commerce Enabler
Headquarter: Bangalore
Year founded: 2023
What They Do: POP, an e-commerce enablement start-up with years of expertise creating and scaling e-commerce marketplaces and maintaining big coalition loyalty currency networks, is positioned to become India’s top D2C brand growth enabler. POP promises to provide digitally native firms with a new and trustworthy client acquisition channel by building a network of deeply penetrated e-commerce buyers.
8) Nuvepro Technologies: Beyond Grades and Hours: Skills-Based Learning
Headquarter: Bangalore
Year founded: 2014
Nuvepro teaches IT skills hands-on. Nuvepro creates Job and Project Ready Workers. Nuvepro’s Personalized Approach to Skilling develops Critical Thinking, Real-World Experience, and Job Readiness for today’s competitive job market. Nuvepro’s Hands-on Learning platform gives learners access to 1000+ Real World Scenarios and Sandbox settings to practice, reinforce, and validate their learning. Millions of learners from corporations, colleges, and EdTech platforms have benefited from it.
9) Thriwe: Tech-driven consumer benefits market
Year founded: 2021
What They Do: Thriwe provides B2B customer advantages with seamless technology and comprehensive data analytics. The loyalty and incentives organization helps businesses acquire, engage, and keep customers. Its end-to-end benefits offering—technology platform, benefit curation and onboarding, customer experience, and service—makes Thriwe distinctive. Thriwe’s platform helps organizations manage loyalty programs and rewards systems, giving customers a streamlined and earn-and-burn gratifying experience to keep them. Thriwe, a loyalty and benefits leader, helps businesses across industries grow and build brand loyalty via innovation and customer-centricity. Thriwe has 200K+ Partners in 130+ Countries, 3M+ Customers, and 8M+ Tractions. Thriwe serves HDFC Bank, Yes Bank, Axis Bank, American Express, and others.
10) Cosmofeed: Ultimate creation platform
Headquarter: Gurugram
Year founded: 2021
What They Do: Cosmofeed offers creators a suite of solutions to sell bits and full content across audiences and encourage community involvement. Cosmofeed overcomes all creator productivity and distribution issues with its creator-first product building strategy. Cosmofeed lets producers create premium groups and host online events using their app. Cosmofeed’s seed round last year was headed by Growx Ventures, Waveform Ventures, and 9 Unicorns, with Silk Bridge Partners (SBP) participating.
Conclusion
With over 1,12,718 DPIIT-recognized startups across 763 districts, India ranks third internationally. Top scientific publications and universities rank the country #2nd in innovation quality. With a strong entrepreneurial spirit, advanced technology, and a supporting ecosystem, India’s startup ecosystem will grow exponentially in 2024. Here are 11 startups to watch: Pee Safe, Poshn, Xerox, GoKwik. Pee Safe makes feminine hygiene products, GoKwik enables eCommerce, and Xerox is an agritech platform.
Fyllo, an agritech business, tripled sales in FY23 as farmers used data and analytics. Fyllo’s IoT gadgets collect real-time farming data, lowering expenses and increasing yields. Indian customers get a quick, safe, and private online experience with Veera Browser, India’s first mobile browser. Leading blockchain technology startup Seracle prioritizes compliance, security, and user experience. The top e-commerce facilitator in India, POP, wants to develop a network of deeply penetrated buyers. IT skills may be learned hands-on at Nuvepro Technologies, creating a Job and Project Ready Workforce. Technology-driven Thriwe offers B2B customer benefits with seamless technology and comprehensive data analytics. Cosmofeed lets producers monetise content and engage communities in one place.
