This company founded in 2014 has already become the leading light in the services marketplace space. The local services is a very big market and pain point for the Indian consumer. There is high level of non-standardization of service quality, pricing and supplier base. The market is ripe for disruption, both from a discovery and consumption of services perspective.Founded by three individuals from varied backgrounds competes with the likes of fellow newbies Qyk, Thumbspot Inc. and FindYahan India Pvt Ltd as well as the first-mover but one-paced LocalOye. Within 6 months of starting their operations, in April of 2015, they received funding to the tune of 10 crores. They used that to start operations outside NCR region. As if that wasn’t enough, they raised the second round of funding within 75 days to the tune of 62 crores. The growth of the company has been phenomenal and it is this aspect of the firm that makes it my personal favourite to break into the pantheon of hallowed start-ups that have achieved billion dollar valuation within the span of a few years from their creation.
A web-based clinic management software developer which derives a major portion of its business from primary clinics which had completed raising 187 crores in its Series B funding and was valued at around 1000 crores in February has raised another 573 crores round led by Tencent. This round of funding is aimed at extending Practo’s leadership in India and establishing it as a clear winner in a space that is becoming crowded. In the past year, startups such as Lybrate, Ziffi and Qikwell have raised money and they also compete with search firms such as Just Dial.It is now eyeing to expand to other countries.Operations have also been launched in overseas markets like Philippines and Singapore with plans being firmed up enter half a dozen more markets, according to people familiar with the company’s plans.
Locodel Solutions Pvt. Ltd, which runs hyper-local grocery and fresh food delivery platform Grofers – a mobile-based platform that connects offline retailers with consumers, has raised Rs 218 crore from its existing investors Tiger Global Management and Sequoia Capital in April, 2015. Two months earlier it had raised Rs 62 crores in Series A round and two months prior to that its seed funding. The growth of the company is the stuff of legends. Do the maths if you like, within a span of six months the company has come to a valuation of around Rs 1000 crores! According to Dhindsa, Grofers’ working model is very similar to Instacart in the US, which helps offline retailers to go online and connects them with customers in their locality.The company has also launched Grofers On-Demand, an Android app that allows users and businesses to get their delivery done by just selecting a pickup and a drop location.Presently, it serves products across categories like grocery, bakeries and fresh produce.It has so far partnered with over 250 merchants across Delhi and Mumbai and claims of processing over 30,000 deliveries every month, with over 6,000 orders coming over the mobile application.
The first B2B company to feature in the list. It is a Software as a Service based on a freemium policy and is in a market segment which is clearly showing growth. Chennai- and US-based Freshdesk Inc launched in 2010, Freshdesk’s flagship product allows organisations to support customers through email, phone, websites, forums and social media. With powerful features, an easy to use interface and a freemium pricing model, Freshdesk is widely used by companies ranging from startups to enterprises. Freshdesk has over 40,000 customers around the world including 3M, Honda, Hugo Boss, University of Pennsylvania, The Atlantic, and Petronas. Freshdesk competes with California-headquartered Zendesk Inc, which went public last year, and Salesforce.com, which offers customer service tools aimed at SMBs and larger enterprises.
The Walmart India Pvt. Ltd backed BestPrice.in will be a leading player in B2B ecommerce segment and a billion dollar entity on its own. The Indian arm of the American retailer, has brought all its 20 wholesale stores in the country on to its e-commerce platform, enabling small businesses to place orders online. The products will be delivered at the doorstep of members. It will provide the same assortment of products as the brick and mortar stores and will also include a select variety of fresh fruits and vegetables. Resellers, kirana shop owners, hotels, restaurants, caterers, offices and institutions can transact online after registering as members. The company conducted workshops for registered members to navigate the website and understand the registration processes.
This article has been written as an opinionated piece and does not support the views of the estFacts Team.