The startup scene in India has been thriving for the last few years. India is home to over 8,900 tech startup and for a good reason. With Bangalore being one of the top cities for emerging startups, it is already a preferred base for the leading global technology firms such as Facebook, Google, and Microsoft.
India is a rapidly growing economy with a healthy startup environment. It might become the next startup hub for ambitious entrepreneurs. With that in mind, we’ve selected some of the most promising startups you need to watch in 2020.
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1. Ather Energy
Ather Energy, founded in 2013, is an Indian electric vehicle manufacturer. This startup is well known for manufacturing Ather 340 and Ather 450 electric scooters. Based in Chennai and Bengaluru, Ather Energy has created a lot of speculation in the market, making it one of the most exciting startups with a huge potential for growth. Ather Energy has raised over $50 million in its most recent funding round. It continues to build new charging and manufacturing facilities across India.
2. Dunzo
Available in all prominent cities including, Delhi, Bengaluru, Mumbai, Pune, Chennai, Hyderabad, and Gurugram, Dunzo is an enhanced version of cab-hailing service. It can take care of all your errands at an affordable price. Known for its budget-friendly services, Dunzo is a Godsend for people who lead incredibly busy lives and do not have enough time to meet their everyday needs. So, whether you’re looking for a pocket-friendly bike taxi service or you need to visit a client to fetch some important documents, Dunzo can do everything for you without breaking a bank. Google had already invested in this promising startup in 2017, and it has grown by leaps and bounds since then.
3. Cred
Cred is a financial services startup that aims to make credit card payments a rewarding and convenient experience for the users. Cred is a members-only service and only available for people with a high credit score (750 or above). Launched by the previous founder of Freecharge, Kunal Shah, Cred rewards its users for timely card payments with ‘Cred coins’. Besides these benefits, Cred aims to improve the financial knowledge of users by teaching them how to manage their card payments more efficiently. Cred has successfully raised $25 million and positioned itself as a promising startup for 2020.
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4. ShareChat
ShareChat is a messenger service with a difference. One unique thing about this app is its availability in multiple regional languages. With ShareChat, users can share their opinions, connect with new users with similar interests, and record videos and so on – all of this in their native language.
With backing from renowned global investors including Morningside Ventures, Xiomi, Twitter, TrustBridge Partners, and Shunwei Capital, ShareChat is available in 14 Indian languages. Their plans include monetizing the service with in-app purchases and advertising. Recently, this regional language social platform has raised over $100 million in Series D funding round.
5. Cure.Fit
Cure. Fit, founded in 2016, offers users a convenient way to adopt a healthy lifestyle and nurture healthy habits. This app-based service is backed by Accel Growth. Accel has invested over $75 million in series D funding round. Cure. Fit has so far raised over $195 million in less than two years. The company has achieved a valuation of around $500 million after the recent investment.
Among its acquisitions are 1000 Yoga, Kristy’s Kitchen, Cult, The Tribe, and Rejoov, among others. Cure. Fit, with half a million active users, might revolutionize the health and fitness industry in 2020.
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