Unicorns To Watch Out For In India!
The term ‘unicorn’, by default carries an air of excitement and charm within. The startup ecosystem talks likewise, more so when the unicorn population is on the rise for Indian startups. Data states that last year there were around 637 startups founded in 2018. Around $11 billion was invested across 743 deals last year. Also that 2018 saw the making of the largest number of unicorns in a single year in India.
Let’s have a quick look at the performers:
Billdesk was launched in the year 2000 by MN Srinivasu, Ajay Kaushal and Karthik Ganapathy. It is a fintech startup, that has received a funding of $260 million till date. They got the likes of investors like Clearstone Venture Partners, State Bank of India and Visa.
Ed tech platform Byju’s was launched in 2008 by Byju Raveendran and Divya Gokulnath. Headquartered in Bengaluru, the startup is currently valued at $4 billion approximately. It has received a funding of around $895 million till date. Its key investors include General Atlantic, Tencent Holdings, Verlinvest, Aarin Capital, and Sequoia Capital India.
Hotel chain Oyo rooms needs no formal introduction. Kick-started by Ritesh Agarwal, Oyo has fetched a funding of $1.5 billion till date. Its valuation has surpassed $5 billion currently. Over the days, Oyo has stepped its foot across international borders, and will soon come to multiple cities.
Paytm Mall was launched in 2017. It was based on China’s TMall retail model, Paytm Mall started operating as an independent entity and a consumer app in February 2017. In 2018, Paytm Mall had reached over 700 towns across 19,000 pin codes across the country. It has raised funding from SoftBank and Alibaba when it marked an entry into the unicorn club.
Fintech sector in India was redefined with PolicyBazaar as one of the first entrants in the Indian online insurance space. The company first got its unicorn status when it generated a funding of $200 million round by Japanese conglomerate SoftBank Vision Fund. This raised its valuation to around $347 million.
2018 was closed by Swiggy with a massive $1 billion funding round, that raised its valuation to $3.3 billion. It first gained a unicorn status in June last year, when Naspers and GST Global. Swiggy has been going strong day by day, and is expecting another year of rapid growth ahead.
Food tech startup Zomato reentered the unicorn club in 2018. Although Zomato earlier attained the unicorn status in April 2015, however in 2016, it suffered a massive loss that resulted in a fall. Zomato faced a little heat when a video showing one of its delivery executives eating food out of delivery boxes went viral. Moving ahead, it is likely to have a bright future ahead.
Recently Turned Ones
Supermarket grocery BigBasket has recently turned a unicorn, with $150 million in a financial round led by South Korea’s Mirae Asset – Naver Asia Growth Fund, UK’s CDC Group, and existing investor Alibaba.
Likely to be One
Fitness brand Curefit recently raised $75 million in a funding round by existing investors Accel Partners. Experts say that its recent valuation is supposed to be around $500 million. With the amount of investors it is attracting, we might have a new unicorn soon.