India’s startups are breaking through many barriers.
A recent ranking by Interbrand, a brand consultancy owned by NYSE-listed marketing and communications conglomerate Omnicom Group, listed e-commerce company Flipkart and logistics startup Rivigo among its 40 Breakthrough Brands of 2017.
The ranking features the next generation of startups and technology innovators and evaluates companies based on business models, technological innovation, and impact on consumers.
Forty such firms, involved in artificial intelligence, transportation, and fin-tech brands, were sieved from a list of 350 globally and released on Tuesday. Besides Flipkart and Rivigo, it named China’s ride-sharing giant Didi Chuxing and cloud-based communication platform Slack.
Bengaluru-based Flipkart, currently valued at $11.6 billion, was termed the “region’s biggest breakthrough catalysts,” thanks to the retailer’s investments in payment and retail technology across the country. The company has “changed the retail landscape in India, providing access to goods in both urban and rural communities at prices that were once unimaginable,” the report added.
Gurugram-based logistics and transportation startup Rivigo, founded in 2014 and valued at $1.8 billion, is creating systems that increase distances covered and improve turnaround time, Interbrand noted. Rivigo does this using its team of data scientists and internet of things-backed technology, it said.
Last year, Zomato, a restaurant search and discovery platform, along with fin tech startup Paytm, featured in Interbrand’s Breakthrough Rankings for 2016.