Successful startups in 2022 that did a profitable business in the startup ecosystem
Founded in 2016 Bangalore-based Betterhalf, is an AI-based matrimony application. first AI-driven matrimonial app without the direct involvement of the parentsBetterhalf is India’s first and only matrimonial app without the direct involvement of parents. It is the fastest-growing matrimony app in India connecting hearts through AI technology on both IOS and Android for free. Betterhalf is a revolution in the matrimony industry. It is here to break the old approach of matchmaking apps in India with its advanced compatibility algorithm powered by AI.
In 2022 Betterhalf recorded a dramatic growth of $2M annualized revenue in FY22 with 50% quarterly growth.Betterhalf.ai’s recorded growth was fueled by its key matchmaking service which drives 70% of the company’s revenue while non-matchmaking services like wedding decorations, photography, loans, verification, and astrology drive 30% of the company’s revenue. Apart from the record high revenue growth, the app has also recorded a 250% growth in its team size by adding 75 full-time employees in 06 months. With 75,000 users added every month to the app, it is working aggressively to touch $3M annualized revenue by the end of FY23.
Founded in 2020 EMotorad (EM) is a Pune-based electric vehicles company that strives to bring eco-friendly, futuristic e-bikes at an affordable price for adventure seekers, daily commuters, or casual riders. The EV startup aims to bring across premium quality electric cycles at an affordable price, utilizing its local sourcing and manufacturing capabilities in India. In a short span of time, Emotorad has expanded its business in Japan, UAE & Nepal. EMotorad is globally present in many geographies. Alongside onboarding 160+ dealers in India. EM currently is present across 82 towns and cities in India and abroad. They are currently present in India, UAE, Japan, and Nepal.
In a short span, the company has sold over 35,000 units and has a production capacity of 90,000+ units YOY which is further projected to increase to 2 lakhs by the end of next year. In the first fiscal of operations, the EV company recorded a revenue of INR 4 Cr. in FY21 which has reached a lifetime revenue of INR 140 Cr. in the first six months of FY23. Furthermore, the company projects to generate a cumulative revenue of INR 165 Cr. by the end of FY23.
Instahyre, An innovative hiring platform based on artificial intelligence developed by a Delhi-based HR-tech startup makes it easy for recruiters to find top candidates. It is a ground-breaking platform that gives businesses the ability to locate talent with 10x greater precision and in 10x less time than with any other options.
During the period of the first and second wave of layoffs, Instahyre has helped over 30,000+ impacted employees get back on their feet. Currently, the platform has 42 million registered job seekers belonging to IT, BFSI, and ITeS domains The platform has also resulted in a reduced time to hire by 60-70% for companies using its ML-powered reminders, interview auto-scheduling, and other features while showcasing the profile of the most impacted candidates at the top of the priority list. Instahyre is used by the largest of companies and unicorns accounting for 10,000+ companies Despite the drop in business, Instahyre has made profits in the last five years. The business has not seen a global downturn or recession. As a result of its annual subscription security, the company has seen a boost in revenue of 70%