Mumbai has been considered as the financial hub of the country for a long time. Even though Bengaluru is the most preferred choice for starting startups, Mumbai has caught the attention of everyone for its posh lifestyle and business scope in many sectors.
Here are 10 tremendously successful Indian startups that grew from Mumbai.
1. Ola cabs
Founders: Bhavish Aggarwl and Ankit Bhati
Founded in: 2010
Ola cabs is an Indian transportation network company offering taxi services and food delivery.
Ola has raised funding from Sachin Bansal, Kia Motors and Hyundai, reaching a valuation of about $6.2 billion.
Ola Electric has separately raised funding of INR 400 crore from Tiger Global and Matrix Partners India.
2. Quikr
Founders: Pranay Chulet and Jiby Thomas
Founded in: 2008
Quikr is an online advertising platform. Quikr is there in over 900 cities and users can sell their mobile phones, household goods, cars, real estate, services and also look for jobs!
Quikr has raised $350 million so far from Tiger Global, Matrix Partners, Norwest Venture Partners, eBay, Nokia Growth Partners and others.
3. Pepperfry
Founders: Ambareesh Murty and Ashish Shah
Founded in: 2011
Pepperfry is India’s number 1 online furniture platform. They sell furniture and home décor products, creating their own niche in the e-commerce market.
Its stock includes more than 80,000 products which includes various furnishing and home décor products.
Initially the company was funded by the founders itself. They managed to raise $100 million in 2015.
4. Justdial
Founders: V.S.S Mani
Founded in: 1996
Justdial is marketed as India’s best local search engine as they provide search services across the country. They provide different services in India over the phone and online.
Justdial launched their web-based version in 2007 and their Android app in 2011.
In 2012, SAP ventures and Sequoia capital invested a total of $57 million in the company.
5. Bookmyshow
Founders: Ashish Hemrajani, Parikshit Dar and Rajesh Balpande
Founded in: 1999
Bookmyshow is India’s largest online movie ticketing brand. Bigtree Entertainment Pvt. Ltd, the parent company of Bookmyshow received backing from Network18 group and Accel Partners.
In 2018, the company raised $100 million in its Series D funding round. Bookmyshow is currently valued at $850 million.
6. Nykaa
Founders: Falguni Nayar
Founded in: 2012
Nykaa is a beauty retailer online store. They sell cosmetic and wellness products. They opened their first physical store at T3 terminal, Indira Gandhi International Airport in November 2015.
The recent funding by TPG Growth has taken its valuation to $724 million.
7. Toppr
Founders: Zishaan Hayath and Hemanth Goteti
Founded in: 2013
Toppr is an online exam preparation platform. Initially, they catered to only IIT JEE students. Now they have expanded and offer materials to the medical students too. They also have materials for board and higher secondary examinations.
The company has received $2 million seed funding from SAIF partners and Helion ventures.
It recently raised $35 million in series C funding round which was led by eight roads ventures.
8. Purple Squirrel
Founders: Aditya Gandhi and Sahiba Dhandhania
Founded in: 2013
Purple Squirrel’s goal has been to bridge the gap between college learning and actual trends of various industries. The company provides industry driven education.
The company works in collaboration with more than 350 businesses and 100 educational institutes.
9. Bajaao
Founders: Ashutosh Pandey
Founded in: 2005
Bajaao Music Pvt Ltd is an Indian online retailer of music instruments, studio equipment, DJ gear, lighting and pro audio equipment.
As the first online music store, impressive stock and good service, the startup was soon able to break even.
As of today, Bajaao is India’s largest e-retailer for music instruments.
10. InCred
Founders: Bhupinder Singh
Founded in: 2016
InCred finance is a non-banking financial company in India. The company gives out home loans, education loans, consumer loans and SME lending.
It recently raised INR 600 crore in a funding round led by FMO.
So, this was a list of some successful startups from Mumbai. Hope it was informative.