ET Startup Awards 2021: Nominees for Startup of the Year

The award will aim to pick the startup that has the potential to become a blue-chip corporation. The ET Startup of the Year will be characterised by breakthrough innovation, top-class execution and fast-paced growth. The quality of the founding and management team was an important component in decision making.


PharmEasyET Tech

Founded In: 2015

Founders: Siddharth Shah, Dharmil Sheth, Dhaval Shah, Harsh Parekh and Hardik Dedhia

Based In: Mumbai

Key Investors: Prosus Ventures, Temasek, B Capital, Tiger Global, TPG, Orios Venture Partners

What it does: PharmEasy, run by API Holdings, offers medicine delivery, diagnostic services and online doctor consultation, apart from having a business-to-business (B2B) pharma distribution vertical. It’s been on an acquisition spree to scale up its non-medicine delivery business with acquisitions like pathology chain Thyrocare and hospital supply chain startup Aknamed. The number of doctors and pharmacists on its platform has doubled in the last year.


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Falguni NayarET Tech

Founded In: 2012

Founders: Falguni Nayar and Adwaita Nayar

Based In: Mumbai

Key Investors: Fidelity, TPG Growth, TVS Capital, Steadview Capital, Lighthouse

What it Does: Nykaa is an omni-channel beauty and personal care products retailer that has filed for an IPO later this year. It would be the first profitable unicorn ecommerce firm going for a listing in India. Nykaa’s gross merchandise value (GMV) jumped over 50% to almost Rs 4,046 crore in FY21. It is also expecting strong growth in the current financial year.

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byjuET Tech

Founded In: 2011

Founders: Byju Raveendran and Divya Gokulnath

Based In: Bengaluru

Key Investors: Blackstone, ADQ, B Capital, Sequoia Capital, UBS Group

What it Does: Byju’s is the largest online education firm in India as well as the most valued startup at $16.5 billion. It has seen cumulative downloads of over 100 million, with 6.5 million of them being paid subscribers. It has spent well over $2 billion on acquisitions this year. The startup is expanding aggressively in the United States and other global markets.

Deepinder GoyalET Tech

Founded In: 2010

Founders: Deepinder Goyal and Pankaj Chaddah

Based In: Gurugram

Key Investors: Info Edge, Ant Group, Tiger Global, Sequoia Capital, Temasek

What it Does: Zomato is one of the leading online food delivery firms and became the first large new-age consumer internet startup to go public in India this year, setting the stage for a whole bunch of companies to tap the domestic IPO market. Its other businesses include table booking for dining out, fresh supplies to restaurants and a customer loyalty programme.


BrowserStackET Tech

Founded In: 2011

Founders: Ritesh Arora and Nakul Aggarwal

Based In: Mumbai

Key Investors: Accel, Bond Capital, Insight Partners, The White Rabbit

What it Does: BrowserStack offers a subscription-based web and mobile app testing platform. The startup was bootstrapped till 2018 when it first raised venture funding from Accel. Earlier this year, it raised $200 million more and was valued at $4 billion. It eventually wants to do an IPO but is currently aiming to become the largest testing platform in the world with a 50% market share.

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