Six Indian companies feature on Forbes Asia's '100 to Watch' list 2023
These companies are using technology to solve problems in multiple sectors, from retail to dairy farming and finance
(L to R), Sucharita Mukherjee, CEO, Kaleidofin; Shruti, CEO, ApnaKlub; Arun Vinayak, CEO, Exponent Energy. Image: P Ravikumar; SELVAPRAKASH LAKSHMANAN
Forbes Asia today unveiled its third annual 100 to Watch list, which highlights rapidly growing small companies and startups making waves across the Asia-Pacific region. The companies on the list include those that are either targeting untapped markets or harnessing state-of-the-art technologies. Singapore leads the pack with 20 of its companies on the list.
This year, six Indian companies have secured spots on the list. In 2022, the list had 11 Indian companies, while in 2021 it boasted 22 Indian companies, the highest number among all the countries highlighted that year.
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ApnaKlub
- Category: E-commerce & Retail
- Founded in: 2019
- CEO: Shruti
ApnaKlub is a wholesale distributor catering to small local stores that provide groceries and dry goods throughout rural India. According to the startup, store owners can access a selection of over 1,000 products on the ApnaKlub app, sourced from 300 brands. The company is backed by investors such as Blume Ventures, Flourish Ventures, Google for Startups, ICMG Partners, Peak XV's Surge, Tiger Global Management, TrueScale Capital, and Whiteboard Capital.
Exponent Energy
- Category: Construction & Energy
- Founded in: 2020
- CEO: Arun Vinayak
Exponent Energy, a manufacturer of components for electric vehicles (EVs), says its battery packs can achieve complete charging within a quarter of an hour using its exclusive charging stations and connectors. Headquartered in Bengaluru, this startup has collaborated with domestic automaker Altigreen Propulsion Labs to integrate its batteries into three-wheeler cargo vehicles. The key backers of the company include 3one4 Capital, AdvantEdge Founders, Lightspeed Venture Partners, and YourNest Venture Capital.
