Do you know that startups in the technology industry in India are heavily contributing to the economy in 2024? Startups are new businesses seeking to grow fast by creating new products or services to fulfill existing market needs and solve common problems.
These companies have emerged as the key catalysts for technology and economic development in India. According to recent data, Indian startups invested $4.1 billion in the first half of 2024, an increase of 4% compared to previous periods. This growth has been a testimony to the fact that the Indian startup ecosystem is not only surviving but also thriving.
In this article, we will take a look at the Top 10 technology startup companies in India for the year 2024 that are revolutionizing industries. We will also discuss their service and products in brief. So, get ready to learn more!
India is considered the third-largest startup country globally as of April 2024, owing to several factors that support it. It has a huge startup potential and the right ecosystem for the growth of more data-driven and problem-solving companies. Startups in the country are expected to grow by 12-15% annually. Public policies, particularly in incubating industries such as drones, semiconductors, and space, create favorable conditions for emerging enterprises.
Furthermore, due to the drive towards digitalization in India, the country has become an ideal ground for innovative solutions. The country’s startups have a young and skilled population with a strong background and experience in IT. Together with the expected economic growth rates of 6.3% for 2023-24, the future of startups in India is bright and full of opportunities for startups and investors.
Every year, the World Economic Forum (WEF) compiles a list of the most promising 100 startups, which is intended to form an elite club of innovators of technology. Of them, 10 Indian startups are also included. These firms offer unique solutions that caters to various markets supporting their prospective growth. Here are the top leading startups in India in 2024.
1. Amperehour
Amperehour, led by Vikas Aggarwal, has been at the forefront of transforming the battery technology industry in India. The startup’s offering is based on innovative energy storage systems, which are designed for electric vehicles and renewable energy applications.
The company was established in the year 2020 and specializes in battery management systems, intelligent charging solutions, energy storage solutions, etc. Its focus on providing commercially viable and scalable energy solutions has propelled it to become one of the pioneers of the sustainable mobility sector in modern India. These innovations are coming at the right time as India embarks on its journey towards increasing its electric vehicle adoption.
2. Cropin
India has an agrarian economy, making it essential to innovate the agriculture industry. Cropin does just that as an agritech venture. Based in India, it was initiated by Krishna Kumar in 2010. The platform uses AI and big data to improve productivity among farmers and other players in the agricultural value chain. Digital solutions offered by Cropin are farm management systems and predictive analytical tools that help farmers in efficient crop planning and resource utilization.
Being a firm that supports food security and sustainable farming in India, Cropin is a pioneer of the country’s agricultural change. Cropin has worked with several state governments and multinational food processing companies, and its target is to make the supply chain of agricultural products more intelligent and sustainable.
3. Entri
With India having a vast number of spoken languages, it becomes essential to ensure that people can access educational material in the language they are comfortable with. Mohammed Hisamuddin launched Entri, a Hyderabad-based ed-tech startup that provides study material in regional languages. Entri focuses on students and job-seekers in second and third-tier cities by offering video courses, test series, and quizzes for competitive examinations and skill improvement.
The platform has quickly gained a large number of users and is now recognized as one of the leading ed-tech startups in India. Another advantage of Entri is that it offers localized content, which means that urban and rural learners get equal chances to receive quality education.
4. HealthPlix
HealthPlix is a healthtech startup founded by Sandeep Gudibanda in 2017 that helps doctors access digital platforms through AI. It is an all-in-one electronic medical record (EMR) software that enhances clinical productivity and patient outcomes.
HealthPlix is revolutionizing the healthcare sector in India through easy-to-use EMR software and data analysis, thus making a connection between technology and practice. The health startup has already reached more than 10,000 doctors across the country and is a pioneer of the digital healthcare market.
5. International Battery Company (IBC)
International Battery Company (IBC) is a green-tech startup company that specializes in battery production for green industries. The startup’s core product is its low-cost, high-performance battery cells for electric vehicles and renewable energy storage.
IBC has been in the news for its research process and for introducing technologically advanced products in a market that is increasingly conscious of the need for environmentally friendly products. Founded in 2022, IBC’s cutting-edge production processes and the circular economy make it a potential contender in the global battery market.
6. Niramai
Niramai, which stands for Non-Invasive Risk Assessment with Machine Intelligence, was launched by Geetha Manjunath in 2016. A few months ago, this health-tech startup created a brand new screening approach for breast cancer that involves thermal imaging and artificial intelligence.
Niramai’s solution is non-ionizing, cost-effective, and can be implemented at a large level to reach as many women as possible from different economic statuses. Additionally, this Bangalore-based company’s solution has been hailed as revolutionary and has placed India on the global map for health innovation. Its products have already been adopted by healthcare systems across the globe, making early cancer detection the new standard and saving lives with preventive measures.
7. NxtWave
NxtWave is a skill development platform started in 2021 by Rahul Attuluri, Sashank Gujjula, and Anupam Pedarla in Telangana. The startup is aimed at making quality technology education affordable in India. The platform has courses in coding, Artificial Intelligence, and digital marketing for fresh graduates and young professionals.
Due to its provision of courses in small portions with regional language content, NxtWave has reached out to a wide population, especially from rural areas, making it a significant player in India’s upskilling initiative. To date, NxtWave has onboarded more than 300 businesses, enabling them to hire qualified talent directly from the platform’s learners.
8. Pixxel
Pixxel is a space tech startup founded by Awais Ahmed and Kshitij Khandelwal in 2019 in Bangalore, India. It aims to develop a constellation of high-resolution imaging satellites that will continuously observe the surface of the Earth and offer valuable data for climate, management of natural disasters and resources mapping, among others.
With a wealth of innovations and big plans, Pixxel is trying to take leadership in the new space tech field. Its hyperspectral imaging capability provides a distinct advantage of high-quality data in the global satellite imagery market.
9. Sarvam AI
Sarvam AI was established in 2022 and is primarily dedicated to creating solutions based on Artificial Intelligence for manufacturing and logistics companies. The key offering of the startup is a machine learning-based solution that addresses the problem of downtime in various industries.
Sarvam AI is enabling companies across India to transition to Industry 4.0 practices and be among the best companies in its industry. Sarvam AI has established several major contracts in automotive and heavy equipment industries making this company one of the leading industrial AI solutions providers.
10. String Bio
String Bio, started in 2013 by Vinod Kumar & Ezhil Subbian, is a biotechnology company that leverages Synthetic Biology to transform waste into useful products. Their primary offering is the process of converting methane into protein, which can be utilized in animal feeds, agriculture, and other sectors.
With its focus on sustainable waste management and resource efficiency, String Bio is shaping the future of circular economy and bio-manufacturing in India. The startup has international tie-ups, which means it operates not only in India but also helps achieve sustainable development goals worldwide.
The technology startup sector in India is rapidly growing, with many businesses focusing on solving real problems and fostering innovation across sectors. These startups not only prove the potential of India, but they also substantiate the fact that the country plays a critical role in the technological advancements around the world. Whether it is in health, agriculture, AI, space, or other industries, all these startups are creating a future that is intelligent, environmentally friendly, and integrated with the nation’s ecosystem to realistically solve common problems.
If you want to invest in the growth of new technologies, pay attention to the emergence of infrastructures for these companies. Scalable cloud solutions and VPS hosting are common strategies that startups use to handle their operations effectively. Oxtrys is one of the most recommended options for obtaining reliable and cheap VPS hosting with specialized plans for tech startups oriented to different countries, including Germany, the USA, and Australia.
We offer free VPS trials, fast processors, and a strong network infrastructure that meets the business requirements of growing firms. This can make a big difference in the use of resources to achieve the goal of low cost of operations, especially for the new startup to be able to expand just like the tech innovators mentioned above. So, contact Oxtrys today and scale your technological infrastructure.