Top Startups In India 2022 | Founders & Business Model

Top Startups in India 2022

by | 20 Min Read | Digital Marketing

There is no doubt that India is one of the hottest startup ecosystems in the world. In the past few years, we have seen some incredible startups come out of India and make a big impact globally.

As per stats, India is the 3rd largest startup ecosystem in the world, and in this post, we’ll cover top startups in India that are growing rapidly.

India has the world’s third-largest startup ecosystem, according to a report released in January 2022 by CB Insights.

In India, There are more than 61,000 startups since the start of January 2022, putting it third among countries after the United States and China.

The goal of Startup India, which is run by the Indian government, is to foster a culture of entrepreneurship and innovation.

The Indian startup environment has emerged as a major development engine for India in recent years and aims to become a global technology superpower.

Many Indian firms are flourishing, with younger people being encouraged to work and develop expertise in their fields of interest. Flipkart, Ola, and Zomato are among the most well-known startups in India.

Startups provide a great chance to improve one’s abilities and advance in one’s field from the start. Although beginning-level training courses might assist you, advanced classes like data science schools or cloud computing programs may help expand your job prospect because professional-level expertise is essential in all industries.

This post will take you deep into the world of Top startups in India and how they are changing the startup culture.

List of top Startups in India 2022

Table of Contents

The Top 20+ list of the best startups in India is out! These are the most outstanding startups that have made a big impact in their respective industries and are definitely ones to watch out for in the coming years.

Let us delve into their success story here and now-

1. Flipkart

Flipkart logo

Flipkart is an Indian e-commerce company founded in 2007 by Sachin Bansal and Binny Bansal. Flipkart is the largest e-commerce company in India with over 100 million users and 80,000 sellers on its platform. In 2018, Flipkart was acquired by Walmart for $16 billion.

How Flipkart was started

Sachin Bansal and Binny Bansal, the co-founders of Flipkart, were working as engineers at Amazon.com when they decided to start their own e-commerce company in India. They quit their jobs, raised $1 million from family and friends, and launched Flipkart in 2007. Flipkart quickly became the largest e-commerce company in India and was acquired by Walmart in 2018 for $16 billion.

Flipkart Business Model

Flipkart charges a commission from sellers for every product sold on its platform. Its revenue generation system is based on advertising, third-party sales, and subscription services.

2. Ola

Ola logo

Ola is an Indian ride-hailing company founded in 2010 by Bhavish Aggarwal and Ankit Bhati. Ola cabs are the largest ride-hailing company in India with over 150 million users and 1 million drivers on its platform. In 2019, Ola acquired Foodpanda to enter the food delivery business.

How Ola was started

Bhavish Aggarwal and Ankit Bhati, the co-founders of Ola, were working on their previous startup, a student discount card business called LocoNav. They soon realized that the real money was in cab aggregation and decided to pivot their business to focus on that. They launched Ola in 2010 and quickly became India’s largest ride-hailing company.

Ola Business Model

Ola charges a commission from taxi drivers for every ride booked through its platform. It also generates revenue from advertisements and premium memberships.

3. Zomato

Zomato logo

It is a restaurant search and discovery service founded in 2008 by Deepinder Goyal and Pankaj Chaddah. It currently operates in 24 countries and serves over 80 million users monthly. Its mission is to ensure no one has a bad meal again.

How Zomato was started

Deepinder Goyal, Founder, and CEO of Zomato, was working in Bain & Company in Delhi when he realized how hard it was to find good restaurants in the city. He then quit his job to start Zomato with Pankaj Chaddah, his colleague at Bain. The duo used their savings to buy a camera and started taking pictures of menus from restaurants around Delhi.

Today, Zomato is one of the most popular food apps in the world and has raised over $2 billion from investors such as Alibaba, Ant Financial, and Info Edge.

Zomato Business Model

Zomato earns revenue by charging a commission from restaurants listed on its platform for every table reservation made through Zomato. It also generates revenue from advertisements and premium memberships.

4. Paytm

Paytm logo

Paytm is an Indian digital payments company founded in 2010 by Vijay Shekhar Sharma. Paytm is the largest digital payments company in India with over 400 million users. In 2015, Paytm launched its mobile wallet and became the largest mobile wallet company in India. In 2017, Paytm launched its payments bank and became the largest payments bank in India.

How Paytm was started

In 2010, Vijay Shekhar Sharma founded One97 Communications, the company that owns Paytm. He started the company with a seed capital of $2 million from his family and friends. Paytm started off as a mobile recharge company but soon pivoted to become a digital payments company. In 2015, it launched its mobile wallet, and in 2017, its payments bank.

Paytm Business Model

Paytm earns revenue from transaction fees, merchant charges, and interest on deposits. Its revenue model is based on a commission charged from merchants for every transaction made through Paytm.

5. CRED

Cred logo

CRED is an Indian fintech startup founded in 2018 by Kunal Shah. CRED is a credit card rewards platform that allows users to redeem rewards points for discounts and cashback on their credit card bills. CRED has over 2 million users and is backed by investors such as Sequoia Capital, Ribbit Capital, and Tiger Global Management.

How CRED was started

Kunal Shah, the founder of CRED, is also the co-founder of Freecharge, a digital payments company that was acquired by Snapdeal for $400 million in 2015. After the sale of Freecharge, Shah decided to start his own fintech company and launched CRED in 2018.

CRED Business Model

CRED earns revenue from transaction fees, merchant charges, and interest on deposits. Its revenue model is based on a commission charged from merchants for every transaction made through CRED.

6. Vernacular.ai

Vernacular logo

Vernacular.ai is an Indian artificial intelligence startup founded in 2015 by Sourabh Gupta. Vernacular.ai is a machine learning platform that allows businesses to build custom models for natural language processing. Vernacular.ai has over 200 customers and is backed by investors such as Sequoia Capital, Nexus Venture Partners, and Accel Partners.

How Vernacular.ai was started

Sourabh Gupta, the founder of Vernacular.ai, is a machine learning expert with over 15 years of experience in the field. He started the company with the aim of making machine learning accessible to businesses of all sizes.

Vernacular.ai Business Model

Vernacular.ai earns revenue from subscription fees and consulting services. Its revenue model is based on a commission charged from businesses for every machine learning project undertaken by Vernacular.ai.

7. Digit Insurance

Digit insurance logo

It is an Indian general insurance startup founded in 2016 by Kamesh Goyal. It is a direct-to-consumer insurance company that offers digital policies for health, travel, and car insurance. It has over 1 million customers and is backed by investors such as SoftBank Group, Tiger Global Management, and Accel Partners.

How Digit Insurance was started

Kamesh Goyal, the founder of Digit Insurance, is an insurance industry veteran with over 20 years of experience. He started the company with the aim of making insurance more accessible and affordable for the masses.

Digit Insurance Business Model

Digit Insurance earns revenue from premiums, commissions, and fees. Its revenue model is based on a commission charged from insurers for every policy sold through Digit Insurance.

8. PharmEasy

Pharmeasy logo

PharmEasy is an Indian online pharmacy startup founded in 2015 by Dharmil Sheth. PharmEasy is an online platform that allows users to order medicines and health products from local pharmacies. PharmEasy has over 1 million customers and is backed by investors such as Sequoia Capital, Orios Venture Partners, and InnoVen Capital.

How PharmEasy was started

Dharmil Sheth, the founder of PharmEasy, is a pharmacist by profession. He started the company with the aim of making medicines more accessible and affordable for the masses.

PharmEasy Business Model

PharmEasy earns revenue from commissions, fees, and advertising. Its revenue model is based on a commission charged from pharmacies for every order fulfilled through PharmEasy.

9. Meesho

Meesho logo

Meesho is an Indian social commerce startup founded in 2015 by Vidit Aatrey. Meesho is a platform that allows users to sell products online through social media platforms such as Facebook and WhatsApp. Meesho has over 2 million sellers and is backed by investors such as Sequoia Capital, Shunwei Capital, and SAIF Partners.

How Meesho was started

Vidit Aatrey, the founder of Meesho, is an IIT Delhi alumni. He started the company with the aim of empowering women to start their own businesses.

Meesho Business Model

Meesho earns revenue from commissions, fees, and advertising. Its revenue model is based on a commission charged from sellers for every order fulfilled through Meesho.

10. Byju’s

Byju's logo

Byju’s is an Indian ed-tech startup founded in 2015 by Byju Raveendran. Byju’s is an online platform that offers educational videos and courses for students. Byju’s has over 10 million users and is backed by investors such as Sequoia Capital, Sofina, and Tencent.

How Byju’s was started

Byju Raveendran, the founder of Byju’s, is a former teacher. He started the company with the aim of making quality education more accessible and affordable for the masses.

Byju’s Business Model

Byju’s earns revenue from subscription fees and advertising. Its revenue model is based on a monthly subscription fee charged from users for access to Byju’s educational content.

11. Swiggy

Swiggy logo

Swiggy is an Indian food delivery startup founded in 2014 by Sriharsha Majety, Nandan Reddy, and Rahul Jaimini. Swiggy is an online platform that allows users to order food from local restaurants. Swiggy has over 1 million orders per day and is backed by investors such as Accel Partners, Bessemer Venture Partners, and SAIF Partners.

How Swiggy was started

Sriharsha Majety, Nandan Reddy, and Rahul Jaimini, the founders of Swiggy, are all IIT Kharagpur alumni. They started the company with the aim of making food delivery more convenient and efficient.

Swiggy Business Model

Swiggy earns revenue from commissions, fees, and advertising. Its revenue model is based on a commission charged from restaurants for every order fulfilled through Swiggy.

12. Groww

Groww logo

Groww is an Indian fintech startup founded in 2016 by Harsh Jain and Lalit Keshre. Groww is an online platform that allows users to invest in mutual funds. Groww has over 6 million users and is backed by investors such as Sequoia Capital, Accel Partners, and Ribbit Capital.

How Groww was started

Harsh Jain and Lalit Keshre, the founders of Groww, are IIT Delhi alumni. They started the company with the aim of making investing more convenient and accessible for the masses.

Groww Business Model

Groww earns revenue from commissions, fees, and advertising. Its revenue model is based on a commission charged from mutual fund companies for every order fulfilled through Groww.

13. Nykaa

Nykaa logo

Nykaa is an Indian e-commerce startup founded in 2014 by Falguni Nayar. Nykaa is an online platform that offers beauty and wellness products. Nykaa has over 1 million products and is backed by investors such as TPG Growth, Lighthouse Funds, and Unicorn India Ventures.

How Nykaa was started

Falguni Nayar, the founder of Nykaa, is a former investment banker. She started the company with the aim of making beauty and wellness products more accessible and affordable for the masses.

Nykaa Business Model

Nykaa earns revenue from commissions, fees, and advertising. Its revenue model is based on a commission charged from beauty and wellness brands for every order fulfilled through Nykaa.

14. Udaan

Udaan logo

Udaan is an Indian e-commerce startup founded in 2016 by Vaibhav Gupta, Sujeet Kumar, and Amod Malviya. Udaan is an online platform that offers business-to-business (B2B) products and services. Udaan has over 1 million registered users and is backed by investors such as Lightspeed Venture Partners, DST Global, and GGV Capital.

How Udaan was started

Vaibhav Gupta, Sujeet Kumar, and Amod Malviya, the founders of Udaan, are all former employees of Flipkart. They started the company with the aim of making B2B commerce more efficient in India.

Udaan Business Model

Udaan earns revenue from commissions, fees, and advertising. Its revenue model is based on a commission charged from businesses for every order fulfilled through Udaan.

15. Dream11

Dream 11 logo

Dream11 is an Indian fantasy sports startup founded in 2008 by Harsh Jain and Bhavit Sheth. Dream11 is an online platform that allows users to play fantasy sports. Dream11 has over 50 million registered users and is backed by investors such as Tencent, Tiger Global Management, and Kalaari Capital.

How Dream11 was started

Harsh Jain and Bhavit Sheth, the founders of Dream11, are childhood friends. They started the company with the aim of making fantasy sports more popular in India.

Dream11 Business Model

Dream11 earns revenue from commissions, fees, and advertising. Its revenue model is based on a commission charged from businesses for every order fulfilled through Dream11.

16. Instamojo

Instamjo logo

Instamojo is an Indian fintech startup founded in 2010 by Sampad Swain, Akash Gehani, and Aditya Sengupta. Instamojo is an online platform that allows users to make and receive payments.

Instamojo has over 1 million registered users and is backed by investors such as Kalaari Capital, Blume Ventures, and Jungle Ventures.

How Instamojo was started

Sampad Swain, Akash Gehani, and Aditya Sengupta, the founders of Instamojo, are all IIT Bombay alumni. They started the company with the aim of making payments more convenient and accessible for the masses.

Instamojo Business Model

Instamojo earns revenue from commissions, fees, and advertising. Its revenue model is based on a commission charged from businesses for every order fulfilled through Instamojo.

17. PostMan

Postman logo

PostMan is an Indian software startup founded in 2014 by Abhinav Asthana and Ankit Sobti.

PostMan is a software tool that allows developers to test API calls. PostMan has over 1 million registered users and is backed by investors such as Nexus Venture Partners and Sequoia Capital India.

How PostMan was started

Abhinav Asthana and Ankit Sobti, the founders of PostMan, are both former employees of Yahoo. They started the company with the aim of making it easier for developers to test API calls.

PostMan Business Model

PostMan earns revenue from subscriptions and features a freemium business model. It generates revenue from the sale of its enterprise plans which offer additional features and support.

18. RazorPay

Razorpay logo

RazorPay software private limited is an Indian fintech startup founded in 2014 by Harshil Mathur and Shashank Kumar.

RazorPay is an online platform that allows businesses to accept, process, and disburse payments. RazorPay has over 1 million registered users and is backed by investors such as Tiger Global Management, Matrix Partners India, and Y Combinator.

How RazorPay was started

Harshil Mathur and Shashank Kumar, the founders of RazorPay, are both former employees of Amazon. They started the company with the aim of making it easier for businesses to accept and process payments.

RazorPay Business Model

RazorPay earns revenue from subscription fees and charges a per transaction fee from businesses. It offers a freemium business model with its basic plan being free and its premium plans starting at Rs.500 per month.

19. Delhivery

Delhivery logo

Delhivery is an Indian logistics startup founded in 2011 by Sahil Barua, Mohit Tandon, Suraj Saharan, and Kapil Bharati.

Delhivery is a platform that provides end-to-end logistics solutions for businesses. Delhivery has over 10,000 employees and is backed by investors such as SoftBank Group, Tiger Global Management, and Nexus Venture Partners.

How Delhivery was started

Sahil Barua, Mohit Tandon, Suraj Saharan, and Kapil Bharati, the founders of Delhivery, are all former employees of Amazon. They started the company with the aim of providing end-to-end logistics solutions for businesses.

Delhivery Business Model

Delhivery earns revenue from subscription fees and charges a per transaction fee from businesses. It offers a freemium business model with its basic plan being free and its premium plans starting at Rs.500 per month.

20. Slice

Slice logo

Slice is an Indian e-commerce startup founded in 2014 by Saurabh Kochhar, Ravi Shankar, and Vikram Chopra.

Slice is an online platform that allows users to order food from restaurants. Slice has over 1 million registered users and is backed by investors such as Tiger Global Management, Accel Partners, and Sequoia Capital India.

How Slice was started

Saurabh Kochhar, Ravi Shankar, and Vikram Chopra, the founders of Slice, are all former employees of Yahoo. They started the company with the aim of making it easier for users to order food from restaurants.

Slice Business Model

Slice earns revenue from commissions, fees, and advertisements. It charges a commission from restaurants for every order fulfilled through its platform. Slice also earns revenue from advertisements on its website and apps.

21. InMobi

Inmobi logo

InMobi has over 1 billion monthly active users and is backed by investors such as SoftBankInMobi an Indian mobile advertising startup founded in 2007 by Naveen Tewari, Amit Gupta, and Mohit Saxena, and Abhay Singhal. InMobi is a platform that allows businesses to advertise on mobile devices.

How InMobi was started

Naveen Tewari, Amit Gupta, Mohit Saxena, and Abhay Singhal, the founders of InMobi, are all former employees of McKinsey & Company. They started the company with the aim of making it easier for businesses to advertise on mobile devices.

InMobi Business Model

InMobi earns revenue from commissions and fees. It charges a commission from advertisers for every ad that is viewed or clicked on its platform. InMobi also charges a fee from publishers for every ad that is displayed on their site or app.

22. Practo

Practo logo

Practo is an Indian healthcare startup founded in 2008 by Shashank ND and Ranjith Kumaran.

Practo is an online platform that allows users to book appointments with doctors and order medicines. Practo has over 10 million registered users and is backed by investors such as Tencent, Sequoia Capital India, and Matrix Partners India.

How Practo was started

Shashank ND and Ranjith Kumaran, the founders of Practo, met while studying at the Indian Institute of Technology, Madras. They started the company with the aim of making it easier for users to book appointments with doctors and order medicines.

Practo Business Model

Practo earns revenue from commissions, fees, and advertisements. It charges a commission from doctors for every appointment booked through its platform. Practo also earns revenue from advertisements on its website and apps.

23. Boat

Boat logo

Boat is an Indian consumer electronics startup founded in 2016 by Aman Gupta and Sameer Mehta.

Boat is a direct-to-consumer brand that sells headphones, earphones, and other audio products. Boat has over 1 million registered users and is backed by investors such as Shunwei Capital, GGV Capital, and Accel Partners.

How Boat was started

Aman Gupta and Sameer Mehta, the founders of Boat, met while working at Amazon. They left Amazon to start Boat with the aim of providing quality audio products at an affordable price.

Boat Business Model

Boat earns revenue from sales of its products. It also earns revenue from advertisements on its website and apps.

24. DriveU

Driveu logo

DriveU is an Indian transportation startup founded in 2015 by Amod Malviya, Sulajja Firodia Motwani, and Raghunandan Gopinath.

DriveU is a platform that allows users to book drivers for their cars. DriveU has over 1 million registered users and is backed by investors such as Accel Partners, Tiger Global Management, and Naspers.

How DriveU was started

Amod Malviya, Sulajja Firodia Motwani, and Raghunandan Gopinath, the founders of DriveU, met while working at Flipkart. They left Flipkart to start DriveU with the aim of making it easier for users to book drivers for their cars.

DriveU Business Model

DriveU earns revenue from commissions and fees. It charges a commission from car owners for every driver that is booked through its platform. DriveU also charges a fee from drivers for every ride that they complete.

25. Skyroot Aerospace

Skyroot logo

Skyroot Aerospace is an Indian aerospace startup founded in 2018 by Pawan Kumar Chandana and Natarajan Radhakrishnan.

Skyroot Aerospace is a platform that allows users to book drivers for their cars. Skyroot Aerospace has over 1 million registered users and is backed by investors such as Accel Partners, Tiger Global Management, and Naspers.

How Skyroot Aerospace was started

Pawan Kumar Chandana and Natarajan Radhakrishnan, the founders of Skyroot Aerospace, met while working at ISRO. They left ISRO to start Skyroot Aerospace with the aim of providing affordable and reliable launch services for small satellites.

Skyroot Aerospace Business Model

Skyroot Aerospace earns revenue from commissions and fees. It charges a commission from satellite owners for every launch that is booked through its platform. Skyroot Aerospace also charges a fee from launch service providers for every launch that they complete.

26. LivSpace

Livspace logo

LivSpace is an Indian home improvement startup founded in 2015 by Anuj Srivastava and Ramakant Sharma rated as one of the top 50 startups in India.

LivSpace is a platform that allows users to book appointments with interior designers and order home improvement products. LivSpace has over 1 million registered users and is backed by investors such as Naspers, Jungle Ventures, and Sequoia Capital India.

How LivSpace was started

Anuj Srivastava and Ramakant Sharma, the founders of LivSpace, met while working at Amazon. They left Amazon to start LivSpace with the aim of making it easier for users to book appointments with interior designers and order home improvement products.

LivSpace Business Model

LivSpace earns revenue from commissions and fees. It charges a commission from designers for every appointment that is booked through its platform. LivSpace also charges a fee from home improvement product vendors for every order that is placed through its platform.

27. Ather

Ather logo

Ather is an Indian electric vehicle startup founded in 2013 by Tarun Mehta and Swapnil Jain which is rated as one of the top 10 startups in India.

Ather is a platform that allows users to book appointments with electric vehicle dealers and test-drive electric vehicles. Ather has over 1 million registered users and is backed by investors such as Tiger Global Management, Flipkart, and InnoVen Capital.

How Ather was started

Tarun Mehta and Swapnil Jain, the founders of Ather, met while working at IIT Madras. They left IIT Madras to start Ather with the aim of making it easier for users to book appointments with electric vehicle dealers and test drive electric vehicles.

Ather Business Model

Ather earns revenue from commissions and fees. It charges a commission from dealers for every appointment that is booked through its platform. Ather also charges a fee from electric vehicle manufacturers for every test drive that is completed through its platform.

28. Urban Company

Urban company logo

Incorporated in November 2014, Gurgaon-based UrbanCompany is a home services marketplace. It provides services like home cleaning, home tuition, and wedding photography. The company has raised a total of $334 million from Tiger Global, SoftBank Vision Fund, and others.

How UrbanCompany was started

Founders Varun Khaitan, Rakesh Kalra, and Abhiraj Bhal left their corporate jobs to start UrbanCompany in November 2014. The company was started with the aim of providing reliable and professional services to urban customers.

UrbanCompany Business Model

UrbanCompany operates on a marketplace business model. It connects service providers with customers in need of services. The company makes money by charging a commission from service providers.

Final thoughts about top startups in India!

So, this was the list of startup companies in India.

All of these unique startups in India are doing great in their respective domains finitely worth keeping an eye on. Do you know of any other startups that should be on this list? Let us know in the comments below!

Enrolling in a digital marketing course will pave the path to making a successful career in the best startups to work for in India.

FAQs 

Question: Which is India’s biggest startup?

Answer: Flipkart, a leading online retailer in India, is the country’s most valuable firm at $37 billion.

Question: Which are the fastest-growing startups in India?

Answer: Some of the top Indian Startups to watch in 2022-

  • TradeX
  • IppoPay
  • Refyne
  • AarogyaAI
  • Glamplus
  • Unbox Robotics
  • Rupifi
  • OneDios

Question: Which is the most profitable startup in India?

Answer: As per reports, Zoho is rated as the 1st in the list of Most Profitable Startups in India.

Question: How many startups fail in India?

Answer: Despite having the third-largest ecosystem for startups, around 80-90% of startups in India fail within the first 5 years of their inception.

Question: Why do startups fail?

Answer: There can be many reasons behind the unsuccessful startups in India. Some common reasons are-

  • Lack of innovation
  • Not having a clear business model
  • Not solving a problem that people care about
  • Not being able to scale
  • Running out of money

Question: How do I start a startup with no money?

Answer: There are a few ways you can start a startup with no money. One way is to bootstrap your startup by self-funding it witur own savings. Another way is to raise funds from friends and family. You can also look for angel investors or venture capitalists who are willing to invest in your startup. Finally, you can also participate in startup competitions or incubators which provide funding for startups.

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12 Comments

  1. Sanya Wadhwa

    looking for some motivation to start your own start-up? this blog can inspire you with the best examples. such a amazing write-up

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    • Digital Vidya

      Thank you for the review.

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    • Abhishek Pant

      Really an information and interesting blog.

      Reply
      • Digital Vidya

        Thanks.

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  2. Priyanka Dani

    Very informative one!! These startups are an inspiration for all the people who want to be an entrepreneur.

    Reply
    • Digital Vidya

      We appreciate this wonderful review.

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  3. Rajlaxmi Sahoo

    A very good article explains the list of startup companies in India. Good informative article. Thanks!

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    • Digital Vidya

      Thanks for leaving us a review.

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    too good and detailed information …

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    • Digital Vidya Team

      Thank you

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  5. Divya Verma

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    .Thanks !!

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    • Digital Vidya Team

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