Top 10 loss making startups in India in 2021 – from Oyo to PhonePe and Paytm, here’s the list

May 10, 2022

By: Rounak Jain

Top 10 loss making startups in India in 2021-22

The list below is based on reports from Tracxn, Entrackr and Deepak Abbot for the financial year 2021-22.

Credit: Pixabay

Oyo

Founded in 2013, this Indian multinational hospitality chain of leased and financed hotels lost $526 million (approx. ₹4,050 crore).

Credit: Oyo

Flipkart

The Amazon rival Flipkart started off as an online book store and later expanded to include mobiles, home appliances and other things. Its loss stood at $382 million (approx. ₹2,941 crore).

Credit: Flipkart

Udaan

Udaan is a B2B trading platform founded in 2016. It is designed to cater small and medium businesses and connects traders, wholesalers, retailers and manufacturers on its platform. It reported a loss of $329 million (approx. ₹2,533 crore).

Credit: Udaan

Eruditus

Eruditus is an executive education platform founded in 2010, offering a wide range of courses in partnership with several universities. It reported a loss of $256 million (approx. ₹1,971 crore).

Credit: Eruditus

PhonePe

The popular UPI payments and recharge service provider notched $229 million (approx. ₹1,763 crore) in losses.

Credit: PhonePe

Paytm

The Vijay Shekhar Sharma-led payments app that gained massive traction after demonetisation in 2016 reported losses of $225 million (approx. ₹1,733 crore).

Credit: Rounak-Jain

Unacademy

Founded by Gaurav Munjal in 2015, Unacademy is an online learning platform that offers courses from a wide range of categories. It reported a loss of $204 million (approx. ₹1,571 crore).

Credit: Unacademy

ShareChat

ShareChat is an Indian social media app that was founded in 2015. It has over 250 million users and supports 15 Indian languages. It reported a loss of $193 million (approx. ₹1,486 crore).

Credit: ShareChat

Swiggy

The Zomato rival, Swiggy is an online food ordering and delivery platform founded in 2014. It operates in 500 Indian cities. Its loss for the year stood at $174 million (approx. ₹1,340 crore).

Credit: BCCL

Ola

The Indian answer to Uber, Ola is a multinational cab booking platform that also allows its users to sell used cars. It recently set up its electric vehicle vertical and launched its first electric scooter last year. Its loss stood at $148 million (approx. ₹1,140 crore).

Credit: Ola

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