Archive · 20 Nov 2025
Indian Tech Startups Diversify into Products for Long-Term Growth
Indian tech startups like Urban Company, MyGate, HealthifyMe, and Paytm are adding products to their services to make more money and keep customers.
They're using products to reach more people and make their services stickier.
However, they're still learning how to make money from these products and are mostly targeting people who are comfortable with technology.
Urban Company's product sales contributed 11% to Q2 revenue
MyGate expands into smart locks, plans adjacent categories
HealthifyMe sells smart scales and CGMs outside subscriptions
Paytm monetizes AI-enabled soundboxes through subscriptions and fees
Startups rely on OEM partnerships, target premium market segments
- Who
- Tech startups like Urban Company, MyGate, HealthifyMe, and Paytm
- What
- Are adding products to their services
- When
- Currently, with plans to expand
- Where
- In India
- Why
- To reach more customers, make more money, and keep customers engaged
- Urban Company's product revenue
- ₹75 crore (11%) in Q2 2025
- MyGate's next product
- Security cameras and home-automation devices
- HealthifyMe's product sales
- 300,000 smart scales and 50,000 CGMs since late 2024
- Paytm's merchant device subscriptions
- 13.7 million as of September 2025
- Paytm's payment-related revenue growth
- 25% year-on-year to ₹1,223 crore in Q2 2025