A company called Bizongo (Smartpaddle) which is involved with solution of packaging design and challenges around development and procurement with a technology-enabled platform has been reportedly declared as the clear winner of Deloitte TechnologyFast 50 India Program.
Through this program, Deloitte aimed to rank the fastest growing technology companies in India on the basis of their percentage revenue growth in the past three financial years.
Founded in Mumbai in 2015 by three IITians Sachin Agarwal, Aniket Deb and Ankit Tomar, Bizongo (Smartpaddle) witnessed revenue growth of around 8, 271 per cent over the past three years. The firm has clients such as healthcare firm Cure.fit, fashion online retailer Myntra and e-commerce venture Tata Cliq.
Post this TheMathCompany, Bengaluru and US-based data Science firm recorded 2,849 per cent revenue firm. This firm is known to have founded by Aditya Kumbakonam, Sayandeb Banerjee and Anuj Krishna in 2016. It currently has Fortune 500 clients from fields like insurance, banking, retail across the globe. This program by Deloitte Technology ranked Phonon, a Vadodra based communication automation solutions firm at the 3rd place with a revenue growth of 2,291 per cent over the past three financial years.
Deloitte reportedly informed that the aggregated revenue of the top 10 companies have seen a rise from around Rs. 40 crores to just under Rs. 600 crores. The company went on to acknowledge the fact that this has proven to be the best ever combined growth of top 10 winners. UrbanClap witnessed a drastic growth of 15 times for the period FY17 to FY19. In fact, seven companies out of the top 10 fastest growing companies were established between 2015-2016.
Firms from diversified sectors were seen in the Tech Fast 50 list such as IT services, digital education, business to business e-commerce and hospitality and travel. Firms which were ranked between 11-20 also performed quite well. They have reportedly recorded six times the growth in the last two years with the integrated revenue of the 11-20 firms at more than Rs.2000 crore.
10 names from Mumbai and 11 names from Delhi NCR and Bengaluru each were in the top 50 winners list. Whereas, it included 27 previous winners, it also has 23 new entrants. Zifo Technologies managed to be in the list for the 8th consecutive year followed by Think and Learn Private Limited (BYJU’s) being seen for the 7th year.