While Byju’s and Postman had been the opposite frontrunners for the highest prize, having had a superb yr, it was the resilient enterprise run by Zerodha that caught the elite jury’s eye.
“It’s bootstrapped and profitable. The company has defied all models and conventional wisdom that startups need venture capital money to scale big,” mentioned a juror whereas discussing the assorted nominees within the race for the distinguished award.
The deliberations had been intense, with some jury members arguing that Zerodha’s potential to scale up and have an enormous impression is probably not as a lot as that of the opposite contenders. What tipped the scales in Zerodha’s favour was the narrative of constructing a self-sustainable enterprise over a decade. This was evident from its FY20 income of Rs 950 crore and revenue of Rs 350 crore.
“In a way we have broken every single norm,” mentioned CEO Nithin Kamath, who based Zerodha in 2010 together with brother Nikhil Kamath. “We didn’t raise any external funding, we are a Bengaluru-based stock broking firm and if you look, we don’t have a lot of pedigree education among the senior management. It’s a lot about building lean teams with the right attitude and focus,” Kamath mentioned as he reacted to information of the massive win.
The 10-year-previous firm is the nation’s largest retail brokerage platform with greater than Three million customers, beating heavy hitters corresponding to ICICI Securities and HDFC Securities. Zerodha got here this far after having taken on legacy rivals backed by huge lenders due to its expertise spine, focus on retail clients, enticing pricing and constructive price-of-mouth critiques.
“When we won Bootstrap Champ in the ET Startup Awards in 2016, I had said we would come back and win another award here,” mentioned Kamath. “This is a huge recognition for us as a company and a team. As the best startup in the country, we have a reputation to work towards now.”
Besides its core enterprise, the corporate has began lending and promoting mutual funds immediately via its personal platform, Coin. In addition, the platform additionally presents further merchandise corresponding to buying and selling in authorities bonds and treasury payments. Zerodha additionally has its personal enterprise fund referred to as Rainmatter, which is presently incubating 12 startups within the wealth administration phase.
“If there was one company in India that we’ve not invested in and would have loved to invest in, it would be Zerodha,” a jury member mentioned. Delhivery cofounder and CEO Sahil Barua, one other jury member, mentioned, “Zerodha, this year’s Startup of the Year, exemplifies resilience, a theme for the winners and nominees, and is simply an incredibly inspiring story of homegrown startup success.” Delhivery was 2019’s Startup of the Year.
Byju’s | Byju Raveendran & Divya Gokulnath
Byju’s is among the many world’s largest schooling tech platforms, with over 57 million downloads and 3.5 million paid subscribers. Its valuation of $10.5 billion makes it the second-highest valued startup within the nation after Paytm. Byju’s is now charting world enlargement plans with latest acquisition of WhiteHat Jr for $300 million.
BigBasket | Hari Menon, V S Sudhakar, Vipul Parekh, Abhinay Choudhari & VS Ramesh
BigBasket operates an internet grocery and B2B platform. Started by secondtime entrepreneurs who had earlier based Fabmart, its differentiation lies in its massive choice, farm-to-fork provide chain integration and non-public manufacturers. The firm has additionally scaled morning subscription- primarily based deliveries, merchandising machines, and on-demand grocery enterprise.
Nykaa | Falguni Nayar
Nykaa is an omnichannel, multibrand magnificence, wellness and way of life retailer that clocks round 1.5 million orders per 30 days. Described because the Sephora of India, Nykaa is likely one of the uncommon Indian web corporations to have recorded Ebitda-level profitability. Apart from rising its offline community of shops, the corporate can be rising its presence in segments corresponding to style and males’s grooming to emerge as a diversified retailer.
Postman | Abhinav Asthana, Ankit Sobti & Abhijit Kane
Postman is a collaboration platform for software programming interface (API) improvement. The firm’s instruments enable builders to construct, take a look at, doc and share APIs quicker and are utilized by over 11 million builders in 500,000 organisations, together with tech giants Microsoft, Twitter, Netflix and Cisco. The firm just lately raised $150 million led by Insight Partners at a $2 billion valuation