Investment in Indian startups is accelerating. In 2014 startups based in the country received a total of more than $2bn in funding as the country inches closer to the level of funding distributed in Europe which was just over $3bn last year. Among the top 10 most funded startups in India in 21014 is one particular standout, FlipKart for raising an astounding $1.7bn, helping to place India on the map for top investors.
Flipkart, founded in 2007, is an online shopping platform focused on electronics, books, music, and movies. Starting with a $1bn Series G funding round, the company raised another investment round in December worth $700m. This startup is setting the Indian tech scene alight with its impressive growth. Amazon, you’ve been warned!
You know Uber and you may know GetTaxi and Hailo, but do you know Ola? You probably should. It’s the largest cab-booking app in India, a country with more than 1 billion people! In 2014 it raised $252m from investors, coming in at second place on this list of the most funded startups in India. What’s unique about this startup is that it offers a premium pink cab service that is reserved for women customers.
Quikr India comes in at third place among the most funded startups in India in 2014 with the total of its two fundraising rounds at $150m, a $90m Series F in March and a $60m Series G in September. Based in Mumbai, Quikr is a community based classifieds website which aims to bring people together to buy and sell products and services to each other.
At this point it’s only a matter of time before we start seeing more $1bn investments in India. The combination of the country’s proud history in the high tech industry (just think of Infosys, the $40bn company based in Bangalore) and it’s rapidly growing economy and improving living standards will naturally increase the number of consumers ready to purchase the services offered by these startups.