Banglore and Mumbai-based firms have dominated the list of top 10 fastest growing tech companies.
Not only in Silicon Valley but in Indian cities too, technology companies are doing wonders. The cumulative revenue of the top 10 technology companies has jumped from Rs 18 crore in 2016 to almost Rs 500 crore in 2018, marking a growth of almost 28 times, and Noida-based B2B e-commerce firm, Moglix was ranked first with 11,836% growth, a report by Deloitte showed.
“Moglix is funded by marquee investors like IFC, Accel and Ratan Tata, and within 3 years of inception, it has emerged as India’s leading B2B e-commerce Company,” Deloitte said in ‘Deloitte Technology Fast 50 India’ report. Banglore and Mumbai-based firms have dominated the list of top 10 fastest growing tech companies.
Top 10 fastest growing companies: Growth in three years
- MOGLI labs (INDIA) Private Limited (Moglix), Noida – 11,836%
- Razorpay Software Private Limited, Bangalore: 11,174%
- Manak Waste Management Private Limited (Cashify), Delhi – 6,853%
- Oriano Clean Energy Private Limited, Mumbai – 3,431%
- Element42 Management Solutions Pvt Ltd, Bangalore – 905%
- NumberMall Private Limited, Hyderabad – 881%
- Loginext Solutions Private Limited, Mumbai – 841%
- Videonetics Technology Pvt Ltd, Kolkata – 699%
- Serosoft Solutions Private Limited, Indore – 682%
- DigitalAPICraft Pvt Ltd, Bangalore – 625%
“This year we have seen new players from the e-commerce ecosystem dominate the top rankings. We have got representation across B2B e-commerce, Used Mobile e-commerce, e-commerce for FMCG distribution, last-mile logistics and payment technologies,” Rajiv Sundar, Partner, Deloitte India said.
“We also continue to have leading companies in the video analytics, data analytics, digital marketing, edu-tech, and cyber security companies” said,” he added.