India, the seventh-largest country by area in the continent is one of the fastest-growing economies in the world. The country offers an incredibly unique environment for startups and entrepreneurship in general. Besides that, India has powerful demographic and economic trends that give a boost not only in the growth of startups but also nation-wide for the economy.
With the constant growth in technology and a vast talent pool, there has been a surge in the number of startups in the country over the last decade. Moreover, with an increase in the number of new investors the startup ecosystem of India is growing. For instance, Softbank, a Japanese giant has invested over US$8B in Indian startups.
A growing market of over a billion people, appetite for innovation, lower costs, and skilled workforce drive the startup ecosystem. Companies like Paytm, OYO, and OLA who had humble beginnings in India have grown on to become household names.
In 2019, a staggering 45 companies raised more than 100M USD in a funding round. Below is the list.
|Organization Name||Last Funding Amount Currency (in USD)||Last Funding Date|
|Capital Small Finance Bank||$840,000,000||2019-11-26|
|India Grid Trust||$400,000,000||2019-05-01|
|Ayana Renewable Power||$330,000,000||2019-02-28|
|Adani Green Energy||$326,500,000||2019-10-04|
|The Ratnakar Bank||$284,023,170||2019-12-07|
|Future Lifestyle Fashions||$244,241,180||2019-11-16|
|Piramal Enterprises Limited||$217,897,033||2019-07-21|
|Aakash Educational Services Pvt. Ltd||$190,563,977||2019-10-30|
|Hero Future Energies||$150,000,000||2019-11-11|
|Apollo Hospitals Enterprise||$145,054,721||2019-07-19|
|Aptus Value Housing Finance India||$122,435,612||2019-09-10|
|Enzen Global Solutions||$100,179,005||2019-07-10|
|PNB Housing Finance||$100,000,000||2019-07-29|
One97 Communications Limited
One97 Communications provides mobile content and commerce services to millions of consumers through a cloud platform. Founded in the year 2000 by Vijay Shekhar Sharma (CEO) has its headquarters in New Delhi and regional offices in Mumbai, Pune, Bengaluru, Chennai, and Kolkata. The company also has global offices in Africa, Europe, Southeast Asia, and the Middle East. The major investors of the company are Alibaba Group, Alipay, Silicon Valley Bank, and Softbank. In November 2019, the company raised US$1B from SoftBank, Ant Financial, and others to make a deeper foray into India’s hinterland. The company again raised US$660M in December 2019 funding led by AliPay Singapore E-commerce Private ltd., other investors included SVF Panther and T Rowe Price. The total funding amount currently is staggering at US$3.8B. The company has various plans to expand its network in different domains and provide high-quality cutting edge FinTech services to more than a billion Indians.
Capital Small Finance Bank
The Capital Small Finance Bank is a Punjab-based private equity company. It is India’s first small finance bank that started its operations in 2016. Nine other entities, along with Capital Local Area bank, were granted in-principle approval from the Reserve Bank of India to start a small finance bank in the country in 2015. The company has raised $84 million equity capital from Oman India Joint Investment Fund, which is a mid-market private equity firm. This private equity firm will hold a 9.9% stake in the bank. There was participation from other investors such as; Amicus Capital Private Equity and Amicus Capital Partners India Fund who had invested earlier in the firm. The existing investors, Pi Ventures LLP also participated in this funding round.
A global telecommunication company, Airtel provides mobile, voice, and data solutions. Founded by Sunil Bharti Mittal, CEO in 1995 is now a public limited company listed on the exchange. Bharti Airtel Ltd. commonly known as Airtel provides mobile, broadband and DTH services in India. Airtel’s headquarter is located in New Delhi and has many offices globally. The company is the largest provider of mobile telephony and the second-largest provider of fixed telephony in the country. It also offers broadband and subscription television services. In October 2019, the company has raised $750 million in a Post-IPO debt fund round from investors based in Asia, Europe, and the US.
OYO is a hotel-network that ensures guests have a hassle-free stay experience. Founded in the year 2012 by Ritesh Agarwal, the company works in close proximity with its hotel partners. It has a network in all major metro cities, pilgrimage towns, leisure destinations, and regional business hubs of the country. The services provided by OYO are pocket-friendly. The company has revolutionized the fragmented budget hospitality by standardizing the amenities, services, and in-room experience. The company has launched India’s first Home Management System- OYO Home which includes over 1000 homes spread across cities of Goa, Udaipur, Pondicherry, Manali, Coorg, and Nainital. In December 2019, the company has managed to raise $1.5 billion in funding from Softbank and RA Hospitality.
A B2B trade platform, Udaan has been designed for small and medium enterprises in the country. The company was found in the year 2016 by Amod Malviya, Sujeet Kumar, and Vaibhav Gupta. The company aims to make B2B commerce convenient and efficient in India and believes that the internet is a great equalizing platform. Udaan wants to bring the power of the internet to millions of small and medium businesses in the country. The company also promotes Indian companies by supporting ‘Make in India’ Project. The company managed to raise $585 million in the last funding round held in October 2019 from Altimeter Capital, Tencent Holdings, Hillhouse Capital Group, GGV Capital, DST Global, and Footpath Ventures.
Patanjali Ayurved is a subsidiary company under Patanjali Ayurved Limited incorporated in 2006. The company has its headquarters in Delhi. It offers a wide range of products including food items, cosmetics, books, medicines, Audio’s, CDs, and DVDs at competitive pricing. In the last funding round held in November 2019, the company has raised Rs. 32 billion via debt financing.
The JSW Steel is India’s topmost steel producing company incorporated in the year 1982 by Sajjan Jindal. The pioneer of using innovative technology has kept the company ahead of all its competitors. The company is recognized worldwide due to its non-stop innovation and R&D. One-fifth of the products are exported, and nearly 40 percent of the products are high-end and value-added. The various steel plants of the company are located in Karnataka, Tamil Nadu, and Maharashtra. The company sets a mission to produce 40 tonnes of steel in this decade. In September 2019, the company has raised $500 billion via debt financing.
India Grid Trust
The India Grid Trust is sponsored by Sterlite Power Grid Ventures Limited and is registered with SEBI. The infrastructure investment trust was found in the year 2016 and has headquarters in Delhi. The main aim of forming the company was to own inter-state power transmission in India. The sponsor is the backbone of the growing company as they have extensive experience in bidding, designing, constructing, financing, and maintaining power transmission projects in the country. In the latest funding round held in May 2019, India Grid Trust has raised $400M from Kohlberg Kravis Robert, GIC, and Sterlite power transmission.
NIIT Technologies is a leading global IT solution provider. The company’s focus is on the following sectors- financial services and banking, insurance, and travel and transportation. With its cutting-edge capabilities in Analytics, Cognitive Automation, Cloudification, and Digitalization that aid clients in bringing innovations to their business and automate it. The company was incorporated in the year 2004 by Rajendra Pawar and Vijay Thadani. Since then, the company has bagged a lot of trophies and awards for its outstanding services. In the last funding round that took place in April 2019, NIIT Technologies has raised US$381 million via equity funding. The lead investor was Baring Private Equity Asia.
The Greenko Group is an independent power producer in India. It is one of the fastest-growing firms as it develops clean energy to meet the ever-increasing demand. The company was founded by Anil Chalamalasetty and Mahesh Kolli in the year 2004. Greenko Group, at present, has six hydro and biomass plants. The company is listed on the London Stock Exchange’s Alternative Investment Market with its asset base in India. The headquarters of the company is located at Hyderabad. The amount raised in the last funding round that was held in August 2019 was $350 million through debt financing via two main investors GIC and Abu Dhabi Investment Authority.
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