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12 Startups To Watch In India

CB Insights, June 28, 2016

We used CB Insights data to highlight 12 companies focused on fintech tech, digital health, food delivery, and more. Sequoia and Accel are among their backers.

India is among the key tech markets globally. It ranks third among the top countries in the number of tech exits in 2015 and has sprouted dozens of prominent startups and attracted global investors, as seen in our recent Periodic Table of Tech In India.

We used CB Insights data to highlight 12 early-stage Indian tech companies to keep an eye on. These are companies that have all raised funding in June 2015 or later, but have not yet raised a Series B round. To select them we used our Mosaic algorithm, which tracks the health of private companies. Mosaic has three components, which gauge a company’s health in terms of financing, industry category, and overall momentum (the latter includes jobs data, social and media mentions, web traffic, and more).

Among the startups on our list is Shuttl, a commuter bus-booking startup that has raised roughly $23M to date, making it the most well-funded company on our list.

Two of our companies — Razorpay Software and Juspay — are payments startups that have both raised in the last 12 months. Other startups on the list include Mumbai-based Aasaanjobs, which has built a human resources platform. Check out the 12 Indian startups below.

Top 12 Indian Startups To Watch

Company
Total Funding ($M)
Description
Select Investors
Shuttl
$ 23.0
Bus operator and aggregator
Lightspeed Venture Partners, Sequoia Capital India and Times Internet
ClearTax
$ 15.4
Fintech tax software
SAIF Partners, FF Angel and Sequoia Capital India
Razorpay Software
$ 11.6
Payments software
Matrix Partners India, Tiger Global Management and Y Combinator
Opinio
$ 8.3
Logistics software
Accel Partners, Delhivery and Sands Capital
Aasaanjobs
$ 6.6
HR Software
Aspada Advisors, IDG Ventures India and Inventus Capital Partners
HealthifyMe
$ 6.3
Digital Health
Micromax Informatics, Blume Ventures, IDG Ventures India and Inventus Capital Partners
Juspay
$ 5.8
Payments software
Accel Partners, Ashish Hemrajani, Parikshit Dar and Rajesh Balpande
TaskBob
$ 5.7
On-demand home services
IvyCap Ventures, Mayfield Fund and Orios Venture Partners
Belong
$ 5.0
HR Software
Blume Ventures, Kunal Bahl, Matrix Partners India, Phanindra Sama, Raju Reddy and Rohit Bansal
Licious
$ 4.0
Food Delivery
Mayfield Fund
RKSV
$ 4.0
Zero commission trading platform
GVK Bio and Kalaari Capital
Cue Learn
$ 4.0
Ed Tech
Sequoia Capital India and Unitus Seed Fund