This week has showcased the remarkable resilience and innovation of India’s small business sector. From women entrepreneurs breaking barriers to startups securing major funding rounds, here are ten inspiring stories that highlight the dynamic spirit of Indian entrepreneurship.
Indian Startups Raise $186 Million in One Week
Between October 21 and October 26, 2024, eighteen startups from diverse sectors raised over $186 million in funding. This strong funding activity signals renewed investor confidence in India’s startup ecosystem, with sectors ranging from AI and logistics to wellness and edtech attracting significant capital.
Paytm Revives Buy-Now-Pay-Later Services
Paytm has revived its buy-now-pay-later product, Paytm Postpaid, as a credit line on UPI more than a year after it was suspended, in collaboration with Suryodaya Small Finance Bank. This move will provide consumers with immediate access to short-term credit, particularly benefiting small merchants and their customers during the festive season.
Small Businesses Create 11 Million Jobs
Small manufacturing businesses in India increased from approximately eighteen million in fiscal year 2022-23 to over twenty million in the next year. This remarkable growth demonstrates the critical role of small enterprises in driving employment and economic development across the country.
Swiggy Launches Regional Culinary Experience
Swiggy Dineout partnered with Mumbai Foodie to launch Supper Clubs of India, an experiential dining series celebrating regional Indian cuisine, featuring ten curated dinners over six months led by talented home chefs. This initiative starting in October showcases how food-tech platforms are supporting small culinary entrepreneurs and preserving traditional recipes.
WishNew Wellness Secures $250,000 Angel Funding
WishNew Wellness, a wellness solutions provider, raised two hundred fifty thousand dollars in an angel funding round at a valuation of approximately five point six five million dollars, led by IIT Delhi alumni. The funds will enhance research and development initiatives and expand the startup’s product portfolio.
Maxvolt Energy Prepares for IPO
Maxvolt Energy converted to a limited company from a private company and received approval from the Central Government, preparing for its SME Initial Public Offering in the near future. Founded in 2019, the company specializes in manufacturing lithium battery packs for electric vehicles and energy storage systems.
Grandma’s Pickles Expands to European Markets
Jimmy Raju’s family pickle business ‘Grandma’s’ in Kerala, which started in 1994, has expanded beyond regional markets to export to European countries with support from Federal Bank. With over two hundred employees, the business demonstrates how traditional food enterprises can scale globally with proper financial support.
Women Homepreneurs Achieve Lakhs in Revenue
Multiple women entrepreneurs transformed their homes into thriving businesses in 2024, including Sudha’s Iniya Organics, which grew from a small-scale venture to receiving orders from across the country. These homepreneurs are blending innovation with tradition, proving that successful businesses can start from home with minimal investment.
D2C Luggage Brand Zouk Raises $10 Million
Zouk, a direct-to-consumer bags and luggage brand, raised ten million dollars in a Series B funding round. This substantial investment reflects growing consumer confidence in Indian-made products and the strength of the D2C model in the country.
HDFC Tech Innovators Recognizes Breakthrough Startups
HDFC Bank Group announced the winners of HDFC Tech Innovators 2024, selecting ten winners from over two thousand applications across PropTech, FinTech, Sustainability Tech, Consumer Tech, and New Age Tech sectors. This initiative provides crucial support and recognition to emerging tech startups, helping them scale their innovations.
Looking Ahead
These updates underscore the vitality of India’s small business ecosystem. From traditional pickle makers reaching international markets to cutting-edge tech startups securing major funding, Indian entrepreneurs continue to demonstrate remarkable adaptability and innovation. The combination of government support, improved access to capital, and a growing domestic market positions India’s small businesses for continued success.
The stories featured this week remind us that entrepreneurship thrives at every level—from home-based ventures started with minimal investment to tech startups attracting millions in funding. Each represents the indomitable spirit of Indian business and the nation’s journey toward becoming a global economic powerhouse.
