The Indian startup ecosystem has become the third largest of its kind in the world. India is home to a plethora of innovative startups that have tasted massive success in the Indian marketplace and globally as well.
Although diversity is not a strong suite of the Indian startup world, yet over the past years we have been seeing Indian women entrepreneurs making significant strides in various industries, driving innovation and societal impact.
From health tech to sustainable fashion to lifestyle, these trailblazing leaders have disrupted markets and fueled a growing ecosystem for women-led businesses.
2024 has been a year of reckoning for women entrepreneurs in India. From building soonicorns to soonicorns and leading their companies to successful IPOs, Indian women founders have had a successful year.
With the year drawing to a close, Women Entrepreneurs Review team takes a look at 5 of the most impactful women founders and their noteworthy successes in 2024.
Vidya Nataraj Co-Founded BlueStone Jewellery & Lifestyle files IPO
In December, Bluestone, a Bengaluru-based jewelry retailer, founded by Vidya Nataraj and Gaurav Kushwaha filed for an Initial Public Offering (IPO) to raise Rs 1,000 crore ($118 million) through an offer-for-sale component. The company, which designs in-house jewelry and has 12,600 stores across India, the US, Canada, the UK, and Australia, reported a 64% increase in revenue in the financial year ending March 2024. Investors Accel India, Saama Capital, and Kalaari Capital aim to invest around 24 million shares.
Zoho's Radha Vembu Tops India's Self-Made Women Billionaires List 2024
Radha Vembu, the founder of Zoho, topped India's 10 Self-Made women billionaires list for 2024 with a net worth of Rs 47, 500 crores. The report released by Hurun India Rich 2024 list named the richest self-made woman in India. Radha Vembu co-founded Zoho Corporation in 1996. She works as the product manager for Zoho Mail, an email service. Forbes estimates Radha Vembu's net worth to be $2.1 billion.
The 360 ONE Wealth Hurun India Rich List 2024 and 2023 lists her as the richest self-made woman in India for consecutive years. Radha is well-known in the tech sector and well-respected for her important contributions to corporate leadership and software development. Over the past three years, Zoho Corporation has been awarded 25 patents and provides online business software. To help organizations make the transition to work from home, Zoho introduced a remote work toolkit in 2020 called Zoho Remotely. Zoho's 375-acre property serves as its headquarters, which is located in Austin, Texas.
Nykaa founder Falguni Nayar tops '200 Self-Made Entrepreneurs of the Millennia 2024' List
Falguni Nayar, founder, and CEO of Nykaa, has been named one of India's 'Top 200 Self-Made Entrepreneurs of the Millennia 2024' by the IDFC FIRST Private Banking and Hurun India. Nykaa, founded in 2012, offers over 1,000 beauty, wellness, skincare, haircare, luxury and personal care products. With a market cap of Rs 56,000 crore, the company has seen a 30 per cent increase in valuation since last year. Falguni Nayar is one of India's most successful self-made women entrepreneurs.
The IDFC FIRST Private Banking and Hurun India's Top 200 Self-Made Entrepreneurs of the Millennia 2024 list honors visionary entrepreneurs who have significantly impacted India's business landscape. The list, dominated by financial services, healthcare, and retail, has a cumulative value of Rs 36 lakh crore, equivalent to Maharashtra's GDP.
Upasana Taku co-founded MobiKwik Files IPO
MobiKwik, cofounded and chaired by Upasana Taku filed for its IPO to raise Rs 572 crore through a fresh issue of equity shares. The IPO was subscribed 125.69 times, reflecting strong investor interest. The leading fintech company in India will use the funds raised to enhance financial services, including digital credit solutions, and support organic growth within the core payments business, MobiKwik has grown significantly since its inception, focusing on digital payments and financial product distribution in tier 2 and tier 3 cities.
Romita Mazumdar founded Skincare brand Foxtale raises $18 million
Foxtale, a skincare brand founded by Romita Mazumdar, has raised $18 million in a Series B funding round led by Singapore-based Panthera Growth Partners. The capital will be used to expand into new categories, including body care products like lotions and body wash. Foxtale, launched in 2021, specializes in face care products and aims to address issues like acne, aging, and hyperpigmentation. The company currently has a gross revenue run rate of Rs 250 crore and aims to close FY25 with Rs 400-450 crore in revenue.
