New-age technologies, including AI, the internet of things (IoT), Blockchain, 5G, and Machine Learning, are transforming our lives in ways we could’ve never imagined. Disruptive, innovative startups are at the forefront of this transformation. Through these startups, visionary entrepreneurs have created new markets and even displaced well-established companies without deep pockets.
With that in mind, we have listed below the top 5 innovative startups that have made a lasting impact on the Indian startup ecosystem. They have created their innovative technologies and solved pressing issues across various industries, including Fintech, consumer services, Edtech, Agri tech, media and entertainment, and health tech, to name a few. Let’s take a look:
See Also: 5 Most Promising B2B Startups in India to Watch In 2020
The 5 Most Innovative Startups in India
1. CASHe
Innovation Quotient: CASHe provides unsecured, short term loans to salaried professionals. At the core of CASHe, there’s a cutting-edge patented system called SLQ (social Loan Quotient). This one-of-a-kind credit score system analyzes a wide range of data points to determine the creditworthiness of customers. The innovativeness of the system lies in the fact that it collects most of these data points right from the smartphone of the consumers to predict their ability to pay back the loan.
Founded by V Raman Kumar in 2016, CASHe received a funding of $3.8 MN from investors, including TSLC Pte, Aeries Group, and Mathew Cyriac.
2. Drivezy
Innovation Quotient: Drivezy is a peer-to-peer car and bike-sharing service. It allows customers to rent other people’s idle cars using the Drivezy marketplace. Customers can fulfill their commuting needs without investing in a car or bike. The owners can generate passive income from their unused vehicles. Customers have the option to rent a bike or car on per hour, per day, per week, and monthly basis.
Drivezy was founded by Ashwarya Pratap Singh, Vasant Verma, Hemant Kumar Sah, Amit Sahu, and Abhishek Mahajan in 2015, and received a funding of $28 Mn.
3. Belong
Innovation Quotient: The startup analyses data from numerous social and public resources to find the right talent for companies. ‘Belong’ uses big data to provide recruitment solutions to companies. It connects companies with talent experts to fulfill their hiring requirements.
Belong was founded by Vijay Sharma, Saiteja Veera, Sudheendra Chilappagari, and Rishabh Kaul in 2014, and received a funding of $15 Mn.
4. Dream 11
Innovation Quotient: Dream 11 is a gaming-based app. It allows players to participate in fantasy sports like cricket, kabaddi, and football, etc. The users can create their virtual teams consisting of real-life players and compete with each other. Dream 11 was founded by Harsh Jain and Bhavit Sheth in 2012. It received a funding of $100 Mn from investors including Tencent, Multiples Equity, and Kalaari Capital.
See Also: 7 Coolest Startups In India To Work For
5. Furlenco
Innovation Quotient: Furlenco is an online furniture rental service. Over the years, the startup has evolved to include several additional services such as deep cleaning services, furniture swapping, and relocation, to name a few. Furlenco has also delved into furniture design and manufacturing and has its team of in-house designers.
Furlenco was founded by Ajith Mohan Karimpana in 2011 and received an investment of $27.3 Mn from investors, including Signet Chemical Corporation, Hetero Group, Trifecta Capital, HDFC Bank, Lightbox Ventures, Axis Bank Kotak Mahindra Bank, and IntelleGrow.
See Also: Top 5 Most Inspiring Entrepreneurs in India
If you’re looking for more updates on the Indian startup ecosystem, follow us on Facebook, Twitter, and LinkedIn or subscribe to our newsletter.
