There are many start-ups with many ups and downs, especially due to COVID-19 many have suffered and closed even before they could start selling their products. A lot of entrepreneur in India have failed after trying their business opportunities and after testing their ideas. Here is a list of some startups that have survived the pandemic lockdown and have made a fortune.
1) CRED – It was founded in 2018, it is a platform where you can easily pay your credit card bills with ease and get back rewards for it. This platform has created a new business model where the users get the so-called “CRED Coins” which they receive after making a bill payment. These coins can later be redeemed for buying products. This is a Bangalore based startup. According to TechCrunch, it is the youngest Indian Startup to be valued at around $2.2 billion. As per the founder and CEO, Kunal Shah, the company is targeting affluent customers and has become one of the most talked-about startups.
2) Vernacular.ai – This startup is a completely AI-First SaaS business that is aiming to become a leading company in leading voice automation and AI platform spread globally. This company provides a virtual voice assistant and speech recognition as a service to the Food, hospitality industries, and banking too. This company founded in 2016, the company raised $5.1 million in the year 2020.
3) PharmEasy – This is an online pharmacy and medical store in India that spiralizes in diagnostic tests, OTC products and medical instruments. This company was founded in Mumbai, in 2015 and ever since it has experienced incredible growth since then. During the COVID-19 pandemic, this company has become an essential service that has contributed to its growth. The funding has been raised after the merger of PharmEasy with its rival Medlife. PharmEasy has acquired a 100 per cent stake in Medlife, and the latter got a 19.95% stake in the merged entity.
4) Groww – Grow is an investing platform that allows its customers to invest in stocks mutual funds I pause and more using its app. This platform works both on the website and mobile application. This company was founded in 2016 by 4 Flipkart employees who noticed how difficult it is to invest in stocks in India. Currently, this app holds a user base of 15 million users. This company has grown more than 60% in 2 years. The uses of this app are spread across all major cities of India who are working class and even college students
5) Dream 11 – It was founded in 2008. This is an online fantasy sports platform that now has more than 10 crore users in India. Best in Mumbai this company was founded by two young co-founders, Harsh Jain and Bhavit Shah. This company has raised 400 million dollars just before the commencement of IPL 2021. One of the investors in this company is tcv which has also backed up giant companies like AIRBNB and Netflix. This company has quickly escalated the valuation to 25 billion dollars in such a short span of time dream11 has around 75 million user base before academic started and now has more than a hundred million users