Top 50 Startups in India 2023


PhonePe, a digital payments platform, facilitates seamless money transfers, mobile recharges, DTH and data card top-ups, in-store payments, utility bill settlements, gold purchases, and investments. Venturing into financial services in 2017, PhonePe introduced a secure platform for users to buy 24-karat gold. Expanding its offerings, the platform now provides various financial products, including mutual funds and insurance options such as tax-saving funds, liquid funds, international travel insurance, and a dedicated insurance product, Corona Care, designed for the COVID-19 pandemic. In 2018, PhonePe introduced its switch platform, allowing customers to place orders on over 300 apps like Ola, Swiggy, Myntra, IRCTC, Goibibo, and RedBus directly within the PhonePe mobile app.

ReNew Power:

 Established by Sumant Sinha in 2011, ReNew Power has consistently led the way in India’s renewable energy sector. Achieving milestones such as reaching one gigawatt of commissioned capacity in 2016 and surpassing 5 gigawatts in October 2019, ReNew Power remains a trailblazer. Notably, the company was the first in India to issue Rupee-denominated Masala Bonds in 2016. With a diverse portfolio exceeding 5,600 megawatts across 8 states, ReNew Power is a key player in the country’s clean energy landscape. The company also engages in collaborative efforts, partnering with Korean major GSE&C for the SECI-4 project in Rajasthan. Additionally, ReNew Power is actively involved in research, establishing a center of excellence at IIT Delhi and signing a Memorandum of Understanding with the Andlinger Center for Energy and Environment in 2019.


 Founded in 2016, Udaan, a startup operating without a traditional CEO, is revolutionizing offline distribution through its distinctive B2B model. Targeting small and medium businesses (SMBs) in India, Udaan extends the advantages of online commerce to manufacturers, traders, suppliers, and wholesalers in smaller towns. By uniting traders, wholesalers, retailers, and manufacturers on a single platform, Udaan empowers them with the capabilities of technology, providing real insights into active trends and valuable B2B features to scale and foster their businesses.


FirstCry, a comprehensive online and offline brand, offers an extensive array of products catering to babies, kids, and moms. The inception of this startup was motivated by the mission to address the challenge faced by millions of Indian parents who lacked access to top-quality brands and essential baby care products. Product categories on span diapering, feeding and nursing, skin and health care, toys, clothing, footwear, fashion accessories, and more.

With a product inventory surpassing 90,000 items from approximately 1,200 international and Indian brands, features renowned names such as Mattel, Ben10, Pigeon, Funskool, Hotwheels, Nuby, Farlin, Medela, Pampers, Disney, Barbie, Gerber, and Fisher Price.

The company is committed to delivering the best products and brands at affordable prices, ensuring a quality online shopping experience, swift and dependable delivery services, and responsive customer care.

Paytm Mall:

Paytm Mall, the e-commerce arm of Noida-based digital payments firm Paytm, operates on an offline-to-online (O2O) business model with a hyperlocal focus. Securing substantial funding of $795 million from key investors, including Chinese e-commerce giant Alibaba, Japanese conglomerate Softbank Vision Fund, and American multinational eBay, Paytm Mall boasts a diverse product range. This encompasses categories such as beauty and personal care, home and kitchen, sports and health, appliances, mobile phones, laptops and electronics, cars and bikes, and FASTag.


Postman, headquartered in San Francisco with an additional office in Bangalore, is a prominent API platform catering to developers. Originating in 2014 as a side project by software engineer Abhinav Asthana, who faced challenges in developing and testing APIs, Postman was initially launched as a free app on the Chrome Web Store. Abhinav, along with former colleagues Ankit Sobti and Abhijit Kane, officially founded Postman Inc in the same year. The trio continues to lead the company, with Abhinav as CEO and Sobti as CTO.

In May 2015, Postman secured a $1 million seed round, and in August 2021, the company raised an impressive $225 million in a Series D round, reaching a valuation of $5.6 billion.

By 2023, Postman has consistently earned a spot on the Forbes Cloud 100 list for three consecutive years, achieving rankings as high as 28.


Based in Bengaluru, Karnataka, India, the company stands as the premier digital platform catering to both readers and writers, fostering a shared space for their pursuits. Positioned as an AudioBook portal, Pratilipi offers diverse collections in languages such as Gujarati, Urdu, Hindi, Malayalam, English, Kannada, Bengali, and Marathi. Boasting approximately 2 crore users, Pratilipi derives its name from the Sanskrit word meaning ‘copy.’ The core concept behind Pratilipi is to provide content in a multitude of Indian languages, ensuring accessibility for everyone in their preferred language.


Established in May 2020 by Mihir Gupta, Payoj Jain, Divyansh Bordia, and Anshuman Kumar, Teachmint facilitates online classes for educators through an interactive learning solution, encompassing video sharing and more. Beyond this, the platform offers tutoring management Software as a Service (SaaS) to assist teachers in tasks like attendance tracking, test administration, classroom and project creation, and sharing learning materials. Teachmint’s subscription-based model combines an interactive classroom environment with a SaaS dashboard, streamlining various aspects for tutors. With claims of over 1 lakh tutors on board, the platform is reportedly utilized in more than 1,000 cities across India. In October 2020, Teachmint secured $3.5 million in a seed round, led by Lightspeed India, with participation from existing investors Better Capital and Titan Capital.


 Jar stands out as a daily gold savings app, uniquely designed to help users save money effortlessly by allocating spare change from online transactions to automatic investments in digital gold. Pioneering this innovative solution in India, Jar is the first app to offer a seamless daily savings experience, ensuring automatic investments in digital gold at the optimal gold rates.


SatSure’s custom geospatial big data platform integrates satellite imagery, proprietary algorithms, weather data, IoT information, drone imagery, social and economic datasets, and cadastral data, among others, to generate near real-time, location-specific insights. This innovative decision analytics system harnesses advancements in satellite remote sensing, machine learning, and big data analytics to address extensive queries across domains such as Agriculture, Banking & Financial Services, Infrastructure, and Climate Change Mitigation.

In the Indian context, SatSure has demonstrated a robust correlation between satellite-derived proprietary crop-related parameters and ground data, offering valuable insights for the agri-insurance sector. To enable these solutions on a national scale, the organization is actively constructing a 15-year archive of remotely sensed satellite images covering the Indian subcontinent. This archive incorporates images from multiple satellites operational since 2002.