Top 15 Best Retail Technology Companies in India 2023

Retail technology refers to the use of technology in the retail industry to improve the customer experience, increase efficiency, and enhance profitability. This can include a wide range of technologies such as point-of-sale (POS) systems, inventory management software, mobile devices, digital signage, and customer relationship management (CRM) systems.

Retail technology is often used to automate various aspects of the retail business, including inventory tracking, sales reporting, and customer data analysis. It can also be used to enhance the shopping experience for customers through personalized recommendations, mobile payments, and interactive displays.

With the increasing popularity of e-commerce, retail technology has become even more important in helping traditional brick-and-mortar retailers compete with online retailers. By embracing technology, retailers can streamline operations, improve customer engagement, and drive sales both online and in-store.

 Here are 15 well-known retail technology companies in India in alphabetical order:

• Capillary Technologies

Capillary Technologies is a retail technology company based in Bangalore, India. The company was founded in 2008 and provides a cloud-based software platform that enables retailers to engage with customers, manage inventory, and drive sales through personalized marketing and loyalty programs.

Capillary Technologies offers a suite of solutions that includes customer relationship management (CRM), e-commerce, loyalty management, and analytics. Its CRM solution enables retailers to collect customer data from various sources such as social media, email, and mobile apps, and create personalized marketing campaigns to engage customers across multiple channels. The e-commerce solution allows retailers to create and manage their online stores, while the loyalty management solution enables retailers to create loyalty programs and reward customers for their purchases.

Capillary’s analytics solution provides retailers with real-time insights into customer behavior, sales performance, and inventory management, allowing them to make data-driven decisions to optimize their operations and improve their bottom line.

The company has a strong presence in the Asia-Pacific region, with customers in over 30 countries, including India, China, and Southeast Asia. Capillary has received several awards and recognition for its innovative solutions, including being named a Gartner Cool Vendor in 2014 and winning the Red Herring Asia 100 award in 2013.

• CaratLane

CaratLane is an Indian e-commerce company that specializes in selling jewelry online. The company was founded in 2008 and is based in Chennai, India. CaratLane offers a wide range of jewelry products, including diamond, gold, platinum, and gemstone jewelry, as well as solitaires and customized jewelry.

The company’s website and mobile app allow customers to browse and purchase jewelry products from the comfort of their homes. CaratLane offers various features and tools to help customers make informed purchase decisions, such as 360-degree product views, product reviews, and virtual try-on.

CaratLane also has a network of physical stores across India called ‘CaratLane Stores by Tanishq’, which offer a combination of online and offline shopping experiences. The stores feature interactive displays, augmented reality tools, and expert advice from jewelry consultants to help customers choose the perfect jewelry piece.

In 2016, CaratLane was acquired by Titan Company, a leading watch and jewelry brand in India, which helped the company expand its operations and reach more customers. CaratLane has won several awards for its innovative approach to selling jewelry online, including the Best E-commerce Website Award at the Indian Digital Awards 2015 and the Best E-commerce Website Award at the Drivers of Digital Awards 2016.

• Cognizant

Cognizant is a multinational technology company that provides a wide range of consulting, digital, technology, and outsourcing services. The company is headquartered in Teaneck, New Jersey, USA, and has a significant presence in India, with several development centers and offices across the country.

Cognizant’s retail technology solutions help retailers improve their customer experience, increase operational efficiency, and drive revenue growth. The company offers services in areas such as digital commerce, customer engagement, supply chain management, and analytics.

Cognizant’s digital commerce solutions help retailers build and operate e-commerce platforms, mobile apps, and other digital channels to engage with customers and drive sales. The company’s customer engagement solutions help retailers personalize their marketing campaigns and create omnichannel experiences for customers. Its supply chain management solutions help retailers optimize their inventory, reduce costs, and improve efficiency. Cognizant’s analytics solutions help retailers gain insights from their customer data and make data-driven decisions to improve their business performance.

Cognizant works with some of the world’s leading retailers across a wide range of industries, including fashion, grocery, consumer electronics, and home improvement. The company has received several awards and recognition for its retail technology solutions, including being named a Leader in the Gartner Magic Quadrant for Application Services, Worldwide in 2020.

• Cube26

Cube26 is a technology company based in India that specializes in developing software solutions for smartphones and smart devices. The company was founded in 2012 and is headquartered in New Delhi, India.

Cube26’s main focus is on developing artificial intelligence (AI) solutions for mobile devices. The company’s flagship product, Reos Suite, is a suite of software applications that includes an AI-powered virtual assistant, a camera app, a music app, and a messaging app. Reos Suite uses machine learning algorithms to learn from users’ behavior and preferences, providing personalized recommendations and experiences.

Cube26 also offers solutions for original equipment manufacturers (OEMs) and mobile operators, including customization of the Android operating system, integration of third-party apps, and development of proprietary apps and services.

In addition to its focus on AI and mobile software, Cube26 has also developed technology for the smart home and internet of things (IoT) markets. The company’s solutions include voice recognition technology, motion sensing, and facial recognition technology.

Cube26 has received several awards for its innovative solutions, including the NASSCOM Emerge 50 award in 2015 and the Indian Innovator Award at the Global Innovation and Technology Alliance (GITA) Innovation Summit in 2016.

• Delhivery

Delhivery is a logistics and supply chain services company based in Gurgaon, India. The company was founded in 2011 and provides a wide range of logistics services, including last-mile delivery, warehousing, order fulfillment, and reverse logistics.

Delhivery has built a large network of fulfillment centers, warehouses, and delivery centers across India to provide fast and reliable delivery services. The company uses technology to optimize its operations, track shipments in real-time, and provide customers with visibility into the status of their orders.

Delhivery serves a wide range of customers across various industries, including e-commerce, healthcare, pharmaceuticals, and automotive. The company’s e-commerce customers include some of the largest online retailers in India, such as Flipkart, Amazon, and Paytm Mall.

In addition to its core logistics services, Delhivery has also developed technology solutions to help its customers improve their supply chain management. These solutions include inventory management software, order management systems, and predictive analytics tools.

Delhivery has received several awards and recognition for its innovative logistics solutions, including being named the Logistics Company of the Year at the Economic Times Awards for Corporate Excellence in 2018 and the Logistics Service Provider of the Year at the Retail Leadership Summit in 2019.

• Flipkart

Flipkart is an Indian e-commerce company that operates an online marketplace for a wide range of products, including electronics, fashion, home appliances, books, and groceries. The company was founded in 2007 and is headquartered in Bangalore, India.

Flipkart’s platform allows sellers to list their products on the marketplace and sell them to customers across India. The company offers various features and tools to help sellers manage their inventory, process orders, and reach new customers. Flipkart also provides logistics and payment solutions to make it easy for sellers to fulfill orders and receive payments.

For customers, Flipkart offers a wide selection of products at competitive prices, along with fast and reliable delivery, easy returns, and multiple payment options. The company has also introduced several innovative features, such as no-cost EMI, buyback guarantee, and product exchange offers, to enhance the shopping experience for customers.

In addition to its e-commerce platform, Flipkart has also developed several technology solutions to support its operations, such as artificial intelligence (AI) and machine learning (ML) algorithms for demand forecasting, route optimization, and fraud detection.

Flipkart was acquired by Walmart, the world’s largest retailer, in 2018, which helped the company to further expand its operations and reach more customers across India. Flipkart has won several awards and recognition for its innovative approach to e-commerce, including being named the Best E-commerce Website at the Indian Digital Awards 2015 and the Best E-commerce Platform at the Drivers of Digital Awards 2016.

• Fractal Analytics

Fractal Analytics is an Indian analytics and artificial intelligence (AI) company that specializes in providing advanced analytics, data science, and AI solutions to businesses across various industries. The company was founded in 2000 and is headquartered in Mumbai, India.

Fractal Analytics offers a range of solutions for retail businesses, including customer analytics, supply chain analytics, marketing analytics, and risk analytics. The company uses advanced analytics techniques such as machine learning, natural language processing, and computer vision to analyze large amounts of data and provide insights that can help retailers make informed decisions.

Fractal Analytics’ customer analytics solutions help retailers understand their customers’ behavior, preferences, and needs, and create personalized experiences to improve customer engagement and loyalty. Its supply chain analytics solutions help retailers optimize their inventory, reduce costs, and improve efficiency. Its marketing analytics solutions help retailers measure the effectiveness of their marketing campaigns and optimize their marketing spend. Its risk analytics solutions help retailers identify and mitigate risks in their operations and supply chain.

Fractal Analytics works with some of the world’s leading retailers and consumer goods companies, including Walmart, Procter & Gamble, and Coca-Cola. The company has received several awards and recognition for its innovative analytics solutions, including being named a Leader in the Gartner Magic Quadrant for Data and Analytics Service Providers in 2021.

• GoFrugal Technologies

GoFrugal Technologies is an Indian retail technology company that provides software solutions to small and medium-sized businesses in the retail and hospitality sectors. The company was founded in 2004 and is headquartered in Chennai, India.

GoFrugal’s software solutions include point-of-sale (POS) systems, inventory management, accounting, customer management, and mobile applications. Its POS systems are designed to handle various types of retail businesses, including grocery stores, fashion boutiques, restaurants, and pharmacies. The company’s inventory management software helps retailers keep track of their stock levels, automate reorder processes, and reduce waste. Its accounting software helps retailers manage their finances, including billing, invoicing, and financial reporting.

GoFrugal’s customer management software helps retailers manage customer data, track customer purchases and preferences, and create personalized marketing campaigns to improve customer engagement and loyalty. The company’s mobile applications allow retailers to access their business data and manage their operations from anywhere, using their mobile devices.

GoFrugal serves customers across India and in several other countries, including the USA, UK, and Middle East. The company has received several awards and recognition for its retail technology solutions, including the Best Retail Software award at the Indian Retail and eRetail Congress in 2019 and the SME100 India Award for Innovation in 2020.

• Infibeam Avenues

Infibeam Avenues is an Indian e-commerce and digital payments company that provides a wide range of services to businesses across various industries. The company was founded in 2010 and is headquartered in Ahmedabad, India.

Infibeam Avenues offers several e-commerce solutions, including web stores, marketplaces, and product catalogs, to help businesses sell their products and services online. The company also offers digital payments solutions, such as payment gateways, mobile wallets, and card processing services, to help businesses accept payments from their customers securely and conveniently.

Infibeam Avenues’ digital payments solutions are designed to work across multiple channels, including online, mobile, and point-of-sale (POS) systems. Its payment gateway supports various payment methods, including credit and debit cards, net banking, and mobile wallets. The company’s mobile wallet, called CCAvenue, allows customers to make digital payments using their mobile devices.

In addition to its e-commerce and payments solutions, Infibeam Avenues also offers several other services, such as digital marketing, analytics, and cloud services. Its digital marketing solutions help businesses promote their products and services online and reach new customers. Its analytics solutions provide insights into customer behavior and preferences, helping businesses make data-driven decisions to improve their operations and customer experience.

Infibeam Avenues has received several awards and recognition for its e-commerce and payments solutions, including being named the Best E-commerce Platform at the Indian Digital Awards 2018 and the Best Payment Enabler at the Indian Retail and eRetail Congress 2018.

• Manthan

Manthan is an Indian analytics and business intelligence company that provides software solutions to businesses across various industries, including retail, hospitality, and healthcare. The company was founded in 2004 and is headquartered in Bangalore, India.

Manthan’s solutions for retail businesses include analytics, personalization, and customer engagement. The company’s analytics solutions use machine learning algorithms to analyze large amounts of data and provide insights into customer behavior, sales performance, and inventory management.

Its personalization solutions help retailers create personalized experiences for customers, including personalized recommendations, targeted marketing campaigns, and loyalty programs. Its customer engagement solutions help retailers engage with customers across multiple channels, including social media, mobile apps, and email.

Manthan’s solutions are designed to help retailers improve their operations, increase revenue, and enhance the customer experience. The company’s solutions are used by some of the world’s leading retailers, including McDonald’s, eBay, and Louis Vuitton.

Manthan has received several awards and recognition for its innovative analytics solutions, including being named a Leader in the Gartner Magic Quadrant for Retail Assortment Management Applications in 2021 and winning the Retail Analytics Provider of the Year award at the Retail Systems Awards 2020.

• Mindtree

Mindtree is an Indian multinational technology company that provides digital transformation and technology consulting services to businesses across various industries. The company was founded in 1999 and is headquartered in Bangalore, India.

Mindtree’s solutions for retail businesses include e-commerce, supply chain management, and customer experience. The company’s e-commerce solutions help retailers build and operate e-commerce platforms, mobile apps, and other digital channels to engage with customers and drive sales. Its supply chain management solutions help retailers optimize their inventory, reduce costs, and improve efficiency. Its customer experience solutions help retailers create personalized experiences for customers, including personalized recommendations, targeted marketing campaigns, and loyalty programs.

Mindtree’s solutions are designed to help retailers improve their operations, increase revenue, and enhance the customer experience. The company’s solutions are used by some of the world’s leading retailers, including Walmart, eBay, and Home Depot.

Mindtree has received several awards and recognition for its innovative solutions, including being named a Leader in the Gartner Magic Quadrant for Application Services, Worldwide in 2020 and winning the Digital Innovation Award for Customer Engagement at the IDC Digital Transformation Awards 2020.

• Paytm

Paytm is an Indian e-commerce and digital payments company that provides a wide range of services to businesses and consumers across India. The company was founded in 2010 and is headquartered in Noida, India.

Paytm’s platform allows users to make digital payments, including mobile recharges, bill payments, and online purchases. The company’s mobile wallet, called Paytm Wallet, allows users to store and transfer money securely and conveniently using their mobile devices.

In addition to its digital payments services, Paytm also operates an e-commerce platform, called Paytm Mall, which allows users to shop for a wide range of products, including electronics, fashion, and home appliances. Paytm Mall also provides a range of value-added services, including cashback offers, product exchange, and no-cost EMI options.

Paytm has also developed several other technology solutions, such as Paytm Payment Gateway, which enables businesses to accept digital payments from customers, and Paytm for Business, which provides a range of tools and services to help businesses manage their operations and engage with customers.

Paytm is one of the leading digital payments companies in India, with a wide user base and a strong presence in the retail and e-commerce sectors. The company has received several awards and recognition for its innovative solutions, including being named the Best Mobile Payment Solution at the Indian Digital Awards 2015 and the Best Payment App at the Drivers of Digital Awards 2016.

• Reliance Retail

Reliance Retail is the retail arm of Reliance Industries Limited, a multinational conglomerate based in India. The company was founded in 2006 and is headquartered in Mumbai, India.

Reliance Retail operates a wide range of retail formats across India, including supermarkets, hypermarkets, electronics stores, fashion stores, and specialty stores. The company’s retail brands include Reliance Fresh, Reliance Smart, Reliance Digital, and Reliance Trends.

Reliance Retail has a significant presence in the Indian retail market and is one of the largest retailers in the country. The company has also expanded its operations to other countries, including the UAE, Saudi Arabia, and the UK.

Reliance Retail uses technology to enhance the shopping experience for customers and improve its operations. The company has developed several digital solutions, such as the JioMart platform, which allows customers to order groceries and other household essentials online and have them delivered to their doorstep. Reliance Retail has also partnered with several technology companies, including Google and Facebook, to enhance its digital capabilities.

Reliance Retail has received several awards and recognition for its innovative retail solutions, including being named the Best Retailer at the Economic Times Awards for Corporate Excellence in 2019 and the Retailer of the Year at the India Retail and eRetail Congress in 2020.

• Tata Consultancy Services (TCS)

Tata Consultancy Services (TCS) is an Indian multinational information technology (IT) services and consulting company that provides a wide range of digital and technology services to businesses across various industries. The company was founded in 1968 and is headquartered in Mumbai, India.

TCS provides a range of technology solutions to retail businesses, including digital commerce, supply chain management, customer experience, and analytics. The company’s digital commerce solutions help retailers build and operate e-commerce platforms, mobile apps, and other digital channels to engage with customers and drive sales. Its supply chain management solutions help retailers optimize their inventory, reduce costs, and improve efficiency. Its customer experience solutions help retailers create personalized experiences for customers, including personalized recommendations, targeted marketing campaigns, and loyalty programs. TCS’ analytics solutions help retailers gain insights from their customer data and make data-driven decisions to improve their business performance.

TCS works with some of the world’s leading retailers across a wide range of industries, including fashion, grocery, consumer electronics, and home improvement. The company has received several awards and recognition for its retail technology solutions, including being named a Leader in the Gartner Magic Quadrant for Application Services, Worldwide in 2020.

TCS is also involved in several social responsibility initiatives, including education, healthcare, and environmental sustainability. The company has received several awards and recognition for its corporate social responsibility efforts, including being named the Best Community Programme at the Asia Responsible Enterprise Awards 2020.

• Wipro

Wipro is an Indian multinational information technology (IT) services and consulting company that provides a wide range of digital and technology services to businesses across various industries. The company was founded in 1945 and is headquartered in Bangalore, India.

Wipro’s solutions for retail businesses include digital commerce, supply chain management, and customer experience. The company’s digital commerce solutions help retailers build and operate e-commerce platforms, mobile apps, and other digital channels to engage with customers and drive sales. Its supply chain management solutions help retailers optimize their inventory, reduce costs, and improve efficiency. Its customer experience solutions help retailers create personalized experiences for customers, including personalized recommendations, targeted marketing campaigns, and loyalty programs.

Wipro also provides consulting services to help retailers develop and execute digital transformation strategies, improve operational efficiency, and enhance the customer experience. The company uses advanced technologies such as artificial intelligence (AI), machine learning (ML), and data analytics to deliver innovative solutions to its clients.

Wipro works with some of the world’s leading retailers across a wide range of industries, including fashion, grocery, consumer electronics, and home improvement. The company has received several awards and recognition for its retail technology solutions, including being named a Leader in the Gartner Magic Quadrant for Application Services, Worldwide in 2020.

Wipro is also committed to social responsibility initiatives, including education, healthcare, and environmental sustainability. The company has received several awards and recognition for its corporate social responsibility efforts, including being named the Global Impact Sourcing Award Winner at the Global Sourcing Association Awards 2020.