Startup environment in India is coming under pressure with market writedowns of Indian Unicorns, funding drying up for many and others just shutting shop. 

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CB Insights has prepared a list of 12 startups in India to watch out for. 

These companies have raised funding in June 2015 and after, but have not yet raised a Series B round. "The companies selected are gauged in terms of the company's health in terms of financing, industry category and overall momentum in terms of jobs data, social and media mentions, web traffic, among others," CB Insights said. 

On the top of this list is Shuttl, a commuter bus-booking startup that has raised roughly $23 million till date and is the most well-funded company.

ClearTax, a fintech tax software which allows people to file income tax returns easily, features next in the list with a funding of $15.4 million.

Payment startups have picked up pace with mobile wallets being the hot new destination for startups to explore. Two startups in this list which cater to payments include Razorpay Software and Juspay.

Here is the list of top 12 startups to watch out for:  

Even though Indian startup business is going through a tough phase, there still is ample room for investors to cherry-pick. There is some fantastic work going on if one is willing to see beyond the obvious.