India's Top 10 Most Valued E-Commerce Startups

E-commerce has emerged as one of the fastest-growing industry in the country. The e-commerce market in India was at $38.5 billion in 2017, it is expected to grow 5X by 2026 to reach $200 billion. In this video, we will take a look at the achievements of the top 10 e-commerce startups in India and explore their success stories.

#10 PharmEasy: Started by Dharmil Sheth and Dhaval Shah in 2015, PharmEasy is an online pharmacy platform. With the goal of fixing India's fragmented healthcare ecosystem, PharmEasy offers over 200 diagnostics tests and more than 1 lakh healthcare products to its customers. The startup has raised a total of $328.5 million from Bessemer Venture Partners, Orios Venture Partners, Eight Roads Ventures and Temasek Holdings.

#9 Myntra: Founded by Mukesh Bansal, Ashutosh Lawania and Vineet Saxena in 2007, Myntra started as a platform for on-demand personalized products and gifts like T-Shirts, mugs, and greeting cards before expanding into the fashion and lifestyle category in 2011. This online fashion e-commerce startup has emerged as an undisputed leader in the Indian online fashion industry with the help of Flipkart's acquisition, which provided it access to a wider market.

#8 Lenskart: Founded by Peyush Bansal, along with Amit Chaudhary and Sumeet Kapahi in 2010, Lenskart is India's leading e-commerce portal for eyewear. With its growth in the online market, Lenskart started expanding its offline presence in 2014. By 2016, Lenskart was already among the top 2 optical chains in the country and by 2019, the startup had managed to open 500 physical stores. Today, Lenskart is among the prominent unicorns in India.

#7 FirstCry: This online platform selling babycare products was founded by Supam Maheshwari, Amitava Saha and Sanket Hattimattur in 2010 after Supam had a difficult time finding quality babycare products for his daughter. Today, FirstCry offers more than 200,000 unique products from 6,000 brands on its platform and has forayed into the offline market with over 400 stores in the country. Firstcry is also the latest Indian unicorn after raising $150 million from the Softbank Vision Fund.

#6 Grofers: Founded by Albinder Dhindsa and Saurabh Kumar in 2013, Grofers is among the top online grocery platforms in India. It started as an on-demand delivery startup for small retailers but expanded to a full-stack grocery delivery startup. Grofers not only survived but also thrived after changing its business model, at a time when emerging startups like PepperTap and Localbanya had to shut shop. Over the years, Grofers has managed to rake in nearly $600 million from investors like Sequoia Capital, Tiger Global and Softbank.

#5 Paytm Mall: Founded by Vijay Shekhar Sharma in 2016, Paytm Mall offers an ecommerce platform for customers to buy affordable products across categories like electronics, fashion, grocery, books and appliances. While Paytm Mall has witnessed significant growth in less than five years of operations, it is still far behind its counterparts like Flipkart and Amazon. Paytm Mall has raised $795 million from Paytm’s investors like Alibaba and Softbank.

#4 Udaan: India's B2B e-commerce unicorn Udaan was founded by former Flipkart employees Amod Malviya, Sujeet Kumar and Vaibhav Gupta in 2016. Udaan provides a platform enabling small traders and retailers to buy goods and products from other manufacturers and wholesalers in a hassle-free manner in order to help them grow their business. The startup has managed to onboard over 150,000 buyers and sellers across the country offering more than 15 lakh products.

#3 BigBasket: Founded by Abhinay Choudhari, Hari Menon, Vipul Parekh, VS Sudhakar in 201, BigBasket is the only online grocery delivery platform in India. Starting the BigBasket's story in Bangalore with just 4,000 customers, today, the startup has more than 10 million customers across 25 cities. BigBasket's success story has been shaped by its investors like Alibaba, Paytm, and Helion Venture Partners who have invested $1 billion.

#2 Snapdeal: This e-commerce platform was founded by Kunal Bahl and Rohit Bansal in 2010. Started as a daily deals platform, Snapdeal was soon transformed into a full-fledged online marketplace in September 2011. Snapdeal was a success story and became one of the first unicorns in the country. Even with the growth of Flipkart and Amazon, Snapdeal managed to carve out its niche by focusing on more value-conscious buyers who were coming online for the first time.

#1 Flipkart: Started as an online platform for selling books in 2007, Flipkart has now grown to become India’s leading ecommerce platform offering products across a wide range of categories. Flipkart is the brainchild of Sachin Bansal and Binny Bansal, who quit their jobs at Amazon to follow their dreams. Today, Flipkart is one of India's most valued unicorns and empowering millions of online customers every day.

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