2015 was a hit year in startup ecosystem in India. The bug has bitten young techies and entrepreneurs. The year was quite happening in startup hubs of India. May tech companies hit legendary milestones during the year. Today we have listed top 5 startups to watch out for in 2016.
1. One97 Communications One97 Communications is a parent company of well-known mobile payments platform, Paytm. The company has expanded it’s business in fin-tech over the years. The mobile internet company is backed by Alibaba Group. it is reportedly valued at more than $1 billion. One97 Communications recently got approval to act as a payment bank by Indian banking authority.
2. Practo The healthcare startup, Practo is doing everything possible to improve healthcare. The company is banking upon two main products: a marketplace that helps patients find best doctors and a cloud-based practice management software called Practo Ray. The startup is backed by Sequoia Capital, Matrix Partners and Google Capital.
3. OYO Rooms A budget accommodation provider platform, OYO Rooms is another rapidly growing startup out there. The startup works with a network of hotels across India. OYO has been successful at delivering standardized hospitality experience to travelers. OYO customers can expect the same amenities across all OYO room hotels.
4. Zomato Gurgaon based restaurant discovery platform Zomato has expanded its reach to international level this year. The company acquired US-based Urbanspoon to expand its reach to western countries. Zomato has faced major setbacks during last quarter of this year that includes mass layoff, cashless payment service and backlash to an ad campaign it ran on porn sites. However, the company has strong growth plans for coming year. Zomato keeps experimenting with new verticals.
5. Ola Cabs The on-demand taxi service, Ola Cabs gained popularity in short span. Ola Cabs has been one of the most prominent service in India. The company holds majority of the market share. The company is reportedly valued at $5 billion. Ola Cabs is backed by Softbank, Sequoia Capital and Matrix Partners.