India is the most represented country, outside of the United States, within the Winter 2022 cohort of Y Combinator, with 32 startup hailing from Gurugram, Bengaluru, Delhi, New Delhi, Hyderabad, Mumbai and Chennai. Nearly half of the companies in India that have been funded through Y Combinator have been accepted in the last year.
The companies in this batches plan to tackle a wide range of challenges within tech, but are mostly focused on the financial services sector. Buy now, pay later, pitches, savings-focused neobanks, and of course, bitcoins. Most of India's YC startups fell into the B2B services category, but as we've seen, fintech is on fire in terms of valuations and investor appetite.
There are many companies from the pre-seed program for early-stage founders in India, as well as many, many IIT graduates.
There is a list of all W22 startups.
The company was founded in Gurugram, India.
Team:
They are building a futures market where people can trade money while betting on what will happen. Climate change, inflation and omicron cases are some of the more serious future events to bet on.
Allowing people to trade on what they know rather than studying company financials or worrying about market conditions. The company is making opinions investable.
Alternative asset investing is gaining traction thanks to collectibles and NFTs. TradeX is betting that futures markets will find an audience, just like they failed in the past. It might have found inspiration in Kalshi, a U.S. startup that is hoping to entice a new generation of traders to bet on all kinds of possible outcomes. According to Entrackr, TradeX has raised $1 million in seed funding.
In India, founded in 2020.
Team:
The startup combines the idea of cash-back rewards with the idea of digital currency.
We help people accumulate free bitcoin as cash back and rewards every time they shop in India, according to the company.
GoSats went through the pre-seed funding program of Atoms, and they claim that the startup has an 85,000 person community with 1,000 new users every day. GoSats could be an acquisition target if it were to sit on top of how people use and transact in both coins and cash.
The company was founded in Gurugram, India.
Team:
They are building a platform for users to trade opinions and win money. People can bet on everyday topics, such as the winner of tonight's cricket game or COVID-19 case rates.
When we start allowing trading in categories such as cricket, politics and entertainment, it will make trading more relevant and will help improve their financial literacy.
Are we missing something? Better Opinions is a direct competitor to TradeX.
In India, founded in 2020.
Team:
A way for brick-and-mortar shops to audit videos for standard operating procedures is what they're building. The company uses artificial intelligence to make faster decisions.
We like the idea of your bodega catching up with real-time notifications when it comes to walk-ins, customers, and floor mopping compliance. We would love to see the remote auditing company have more privacy and security on their website.
In India, founded in 2021.
Team:
Fello is a gaming and finance application that helps India's Gen Z and young millennials learn how to save money. Users can win money if they win games.
Within a short period of 12 weeks of launch, we onboarded 250,000 users with 98% of them being referred users, and 8% of them being first-time investors who are spending over 12 minutes on average per day on the app saving and playing games.
Savings with a twist isn't a new pitch, but personal finance clearly matters internationally. Fello needs a big differentiator to win sticky traction in a competitive landscape, whether that is an accessible user experience or a smart way to pitch its vision.
In India, founded in 2021.
Team:
Telematica is building a tool to bring the cloud to the burgeoning automotive subscription industry. Telematica gives companies the ability to access the data of cars and control EV charging with a single interface.
Almost all of them are connected to the cloud, which captures and stores mobility data. There is no easy way for companies to interact with each other as there is no user-friendly portal provided by any brand. The company wrote on Y Combinator's blog that they created a single standardized API for all of the vehicles.
More than 40% of new car sales in India will be electric by the year 2030. If this is the case, the early bet on the API that makes those cars work and can address their maintenance and fuel needs could be a big opportunity.
In India, founded in 2021.
Team:
They are building an online index where consumers can discover, organize, and order materials to enhance interior design efforts. Construction and creative professionals can use the platform. More than 5,000 architects and designers have joined the platform since the company launched in January.
When there is so much data, it's important to make sure the discovery doesn't become a burden. Material Depot makes it easy to let go of all the catalogues and phone numbers in your directory and look up your favorite materials, which are just a click away, according to the company's website.
Material Depot sounds similar to services offered by Houzz, which has struggled to monetize its home renovation service in the past. Material Depot focuses on the enterprise instead of the consumer and has a lot of ambition. The company wants to focus on making the supply chain process more efficient, a need with a lot of monetary opportunity and clear demand.
New Delhi, India was founded in 2020.
Team:
They are building a company focused on affordability. When it comes to healthcare bills and other big ticket expenses, the startup wants to give more consumers the option of buying now and paying later.
80% of Indians have no health insurance and 50% are unable to pay for private healthcare, according to the company. This is a $20 billion market opportunity.
Over the years, there have been many swings at repayment services in the United States. It makes sense that the bills are67531 and often difficult to understand because of how expensive a simple service can be. SaveIN wants to bring the model to India, which has its own challenges. SaveIN should be focused on gaining provider trust as it seeks to improve decades-long inefficiencies.
The company was founded in India.
Team:
They are building an employee up-skilling platform. The company helps employees develop their skills and gain experience in a variety of roles.
The company said that it was an up-skilling platform that gave teams continuous learning tracks to equip them with the right skills at the right time.
Finally, an edtech company! As with any up-skilling platform, success is only as powerful as its outcomes, and it is unclear how the business tracks the impact of its courses. The company is using a mix of live and asynchronous cohort-based learning to scale the teachings of enhancing productivity levels and enhancing leadership qualities. Employees may be given access to mentors and experts during certain times of the week, thanks to its claim of 1:1 interactions. If scaled, that could make a difference.
It was founded in Gurugram, India.
Team:
One of the oldest startup in India's cohort is building a software product that will make it easier for companies to handle small legal disputes. Over 100,000 cases have been handled by the company, which has 7,000 lawyers, 10,000 courts and 10,000 covered courts.
These companies have billions of dollars stuck in millions of such disputes that could easily be tracked and settled through our software, according to the company.
Legistify's pitch isn't too hard to understand because the legal tech startup has tried to bring order to a fragmented industry. Every startup doesn't need the same level of input and white-glove legal service. We wanted to see how Legistify monetizes its service since flexibility for lawyers and the rise of virtual practices could create some competitive tensions.
The image is from TechCrunch.
In India, founded in 2021.
Team:
A better way for product teams to collect feedback from users is what they are building. Teams can ask questions throughout a product experience, and then tailor products accordingly. The company has an average response rate of 32%.
With a simple SDK integration, teams can ask questions to their users within product journeys and get highly contextual answers in minutes. The company wrote on the Y Combinator's blog that this allows teams to ship products that address real problems.
The no-code tool is a different take on community-first building. The service's goal is simple, but can be tailored to fit the user's preferences. One platform for companies to gain user research is provided by it. In the long term, Blitzllama will need to prove how it can be tailored to get feedback.
In India, founded in 2020.
Team:
They are building a UPI-based payments service that will allow college students to pay later. Alternative credit scoring models are used by the company to get credit to a wider audience.
More than 150 million people in India are not able to access formal credits because of lack of financial data or low credit scores, according to the company.
Micro loan lending is a common way that we see accessibility. PayCrunch uses a unified payments interface to bring multiple bank accounts, fund routes and payments into one app. It claims to be the first company to bring this technology to students in India, but again, it's easy to see a massive potential customer base with this one.
In New Delhi, India, was founded in 2021.
Team:
They're building a way to record and modify APIs without the need for developers to touch the back-end. It is available as a browser extension and a desktop app, and claims it is already in production with over 40,000 developers.
I would like to test if there is an automatic retry or if the app crashes, if I am an engineer for the company.
Over the past few years, there have been a lot of API startups. Requestly is smart to try to bring some sort of unification, and ease, to managing those different tools from a higher level.
In New Delhi, India.
Team:
A suite of services for mobile-first businesses, specifically focused on managing documents via smartphones. Over the last 18 months, the company says it has 3 million monthly active users. It has 2,000 paying customers.
With over 200M such businesses in India, at $15/year subscription price, this is a $3B opportunity in India and much larger globally, according to the company.
It will be interesting to see how Kaagaz expands from here because document scanning and cloud storage feels like a niche solution. You can modify documents from your phone, so it's definitely ease of use.
In India, founded in 2021.
Team:
An operating system for Indian classrooms is what they are building. Teachers can use the Edustack to assign and track their assignments. It is free for teachers to use, and it sells its platform to schools.
Edustack saves 1000 hours of time for teachers by helping them to assign, send reminders, automate, and generate analytic data. The company wrote on the Y Combinator's blog that their wedge is digital.
After all, stack is in its name, and interactive worksheets can be where Edustack stops. We're interested in seeing how Edustack builds more proactive and student-centered services into its platform, which wants to digitize the antiquated paper-and-pen style school day. It would be easy to pivot on testing and tutoring.
The company was founded in Gurugram, India.
Team:
What they are building is a next generation social dialer app. That may sound niche, but its vision is much broader. Users will be able to use a new caller experience and app to connect with their friends.
Every day over 40K people use Tingo to set video ringtones for their friends and family. The company has handled 25 million phone calls through the app in the last two months.
The company's goal is to convince India and eventually the world to use a new app when trying to get in touch with friends. It is a social media play built atop short-form video, a form factor that we have already seen proven out with the rise of TikTok.
The image was created by Bryce Durbin.
It was founded in Mumbai, India.
Team size is 11.
The founding fathers:
An employee healthcare platform for companies in India enables employees to access unlimited health consultation and traditional hospital expenses.
Employers provide health insurance, but it is insufficient for most, and the company offers an easy way for employees to expand their coverage.
The need for a comprehensive healthcare benefit has been spurred by the Covid pandemic. Over the past 5 months, InsureMyTeam has grown at a 38% month-over-month. The insurtech startup could be helped by the experience of the founders.
In India, founded in 2020.
The team size is 14.
The founding fathers:
Udita Pal, an early team member of Opentalk, Tapchief and Manch, worked with more than 35 startups as a consultant.
Ankit Parasher, a graduate of the Indian Institute of Technology, is the founder of SALT.
They are building a platform that provides cross-border payments and compliance for small and medium-size businesses. The company offers automation to companies that handle international transactions. Salt raised $500,000 in a seed round in October.
SALT is a neo banking solution stitched together to ease payments and documentation which comes with business banking by moving it to a digital-first and automated end to end platform.
More robust cross-border banking and compliance service providers for businesses will be needed as India's exports hit the $400 billion mark for the first time. Salt could be a company that makes international transactions easier.
In India, founded in 2021.
Team size is 10.
The founding fathers:
RecordBook is a mobile and cloud-based application that enables small and medium corporations to digitize their business data.
RecordBook is a solution that helps small and medium businesses manage their data, teams, and processes on their mobile devices and in their local languages.
In India, founded in 2020.
Team size is 6.
The founding fathers:
Mehul is the CEO of BharatX. BharaX was founded by four undergrad students at the National Institute of Technology Tiruchy.
Murugan is a co-founder of BharatX.
Eeshan is the COO of BharatX.
Siddharth Venu is a co-founder of BharatX.
The company enables low-income persons in India to get credit via consumer-facing apps. The pre-seed round raised $250k last year.
The company said that they operate their Buy Now Pay Later (BNPL) in a white-labelled manner on other apps and websites.
The banks couldn't provide access to credit to every lower-income Indian with a zero-document flow, so the startup wants to capture a niche market. The service pays later for food delivery and ride-sharing.
The company was founded in 2020 in India.
Team size is 9.
The founding fathers:
The company is building an artificial intelligence platform that offers web-based medical annotations for 2D and 3D data. RedBrick's tool allows easy work for its customers and external labelers. Medical image annotations are the process of labeling medical images.
The RedBrick system helps teams build robust andScalable quality assurance processes. The company wrote on Y Combinator's blog that it offers a suite of APIs to help developers consume the annotations being created.
Artificial intelligence can analyze a lot of data in images. Redbrick's tool will allow health professionals to save time, make better-informed decisions, and avoid potential errors.
In India, founded in 2020.
Team size is 7.
The founding fathers:
Prior to founding Streak, Shiv Bidani worked at the company.
Balaji R is a hard-core engineer with experience in disturbed systems and databases.
The former CEO of BoxMyLook co-founded Streak. He was employed at CRED.
They are building a neo-banking platform for children in India. The pre-paid card is linked to the app and has unique safety controls. The users can earn coins for rewards with the Streak card.
The company wrote on Y Combinator's blog that they are building a new age personalized and gamified banking solution for teenagers.
The startup sounds like it could be a edu-tech startup for teens to save money and get smart with money.
In India, founded in 2021.
Team size is 10.
The founding fathers:
The company is building a reverse ETL platform that syncs data from customers to business apps.
Castled helps organizations sync customer and product data in real-time from cloud data warehouses like Snowflake, Redshift, BigQuery, Postgres to their sales, marketing and support tools.
The company was founded in Gurugram, India.
The team size is 45.
The founding fathers:
They are building a platform that will allow retail chains to open their offline stores at a click of a button. The company says it has built more than 300 stores in the past nine months for brands like Chai point, Oyo, and Bridgestone using its project planning software and managed marketplace of contractors in India.
India is building its retail infrastructure in Tier2/3 towns, according to co-founder and CEO of the company.
Despite the covid pandemic that causes consumers to shift to online channels, 91Squarefeet claims it is growing more than 20% month-on-month. Retailers and quick-service restaurant chains opened four new stores in India every day last year, according to The Economic Times. With Covid restrictions easing in India, it is expected that more companies will open their offline offices.
In India, founded in 2021.
Team size is 10.
The founding fathers:
Shopr.tv is a live commerce platform for fashion and beauty, where creators can broadcast, build an audience, and monetize by selling over live streams. Over 70 creators and 12 brands can be sold by the startup.
The company wrote on Y Combinator's website that they are "Twitch for Fashion and Beauty, where creators can broadcast, build an audience, and monetize by selling over live streams."
The experienced co-founders are targeting a huge market, one that brings together live-streaming, e-commerce, and social networking. The slice of the beauty and fashion industry that Shopr.tv is targeting is valued at $24 billion, and has 150 million consumers. The startup plans to make money by taking a 10% cut on every sale.
The image is from TechCrunch.
The company was founded in Chennai, India.
The team size is 15.
The founding fathers:
They are building a no-code software-as-a-service platform that enables businesses to build custom templates to streamline their interactions with the field force.
The no-code application allows organizations to build internal mobile applications to manage field teams of any size, according to the company.
The company was founded in Bengaluru, India.
Team size is 3.
The founding fathers:
NinjaStudy is building an English speaking tutor app that helps English learners across the globe practice and learn English with feedback on users.
You can imagine this as a virtual assistant for learning and practicing English, according to the company.
NinjaStudy says it allows non-native English speakers to learn and practice English. They can use the app as if they are talking to someone else, and an artificial intelligence tutor will help them out. We want to see if it offers unique features compared to its peers.
It was founded in Mumbai, India.
Team size is 11.
The founding fathers:
Parth Garg, co-founder and co-CEO at Vance, dropped out of school to find a job.
John Finkelman, co-founder and co-CEO of Vance, dropped out of school to found Vence.
They are building a pipe.com of India. The platform is designed to help startups transform recurring revenue into upfront capital for growth.
We help companies get more recurring revenue. This gives them a boost to grow.
The investors love this model. Rival Pipe reached a valuation of $2 billion after raising $250 million. Pipe was launched in 2020.
It was founded in Mumbai, India.
The team size is 5.
The founding fathers:
A quantitative strategist before co-founding Harmoney, she worked at Goldman Sachs and a $2 billion hedge fund. He enjoys solving problems from a data and technology perspective.
Over the past 8 years, Omkar Ghaisas worked in the corporate finance and wealth management industry.
PayU acquired consumer lending platform Paysense for $185 million in 2020, and the co-founder of the company is a former quant at Goldman.
They are building a bond trading platform for India.
We are building the infrastructure to digitize bond markets and make bond trading more efficient, according to the company.
In India, founded in 2021.
Team size is 24.
The founding fathers:
They are building a fertility platform to help people with infertility and sexual disorders.
In an interview with The Economic Times, Nilay Mehrotra, co-founder of Janani, said that they got to the root cause of the problem through their proprietary diagnostic and treatment plans.
The company wrote on their website that Janani has generated about $8,000 revenue per month and has grown 50% every month. Janani targets 130 million infertile Indians. The global fertility treatment market is expected to increase in size. According to The Economic Times, Janani has raised over $2 million from investors.
It was founded in Delhi, India.
Team size is 2.
The founding fathers:
They are building a platform that will allow companies to use DeFi products on their platform.
We abstract away all the complexity of the coin. It is designed to be integrated in less than an hour. The company said on its website that it handles accounts and ledgering so users can focus on building a rich user experience.
In India, founded in 2021.
The team size is 5.
The founding fathers:
Tanmaay K, co- founder of Yodaa, left in 2020.
Shival G is a co-founder.
They're building a money app that helps teens to spend, manage expenses and earn virtual Yo coins. The teens can take fun quizzes on the app. Parents are invited to get their own virtual Yodda cards, transfer monthly allowances digitally and help their teen grow their personal savings.
Our customers get access to a pre-paid card and a smart money app with Yodaa. They can make payments, save money, split bills, get credit, invest and learn about wealth creation, according to the company.
We think that Yodaa is a direct competitor to Streak, which was founded a year earlier. Teens can learn about managing their money at the startup.