As of 2021, India will have over 60 unicorn startups, making it the world’s fastest-growing startup ecosystem. Unicorn startups are becoming more popular in today’s society; yet, creating a unicorn startup is not easy. Climbing the unicorn ladder requires a lot of hard work, dedication, and tenacity throughout the startup’s journey.
The words “Unicorn Startup” are made up of two words: “Unicorn” and “Startup.” A unicorn is a business phrase that refers to a startup having a market capitalization of more than $1 billion. Aileen Lee, a venture capitalist and seed investor, originated the term. Startups, on the other hand, are privately owned businesses that are often in the early stages of development. To date, India has more than 29 Startups entering the Unicorn Club in 2021. Some of the names include BharatPe, CoinDCX, upGrad, MindTickle, Droom, BlackBuck, CRED, Digit, Groww, Infra.Market, Innovaccer, Meesho, Pharmeasy, Sharechat, Urban Company, Zeta, Eruditus, Apna, Vedantu, and more.
About Unicorn Startup
In the venture capital sector, a unicorn is a startup that has a valuation of $1 billion or more. Aileen Lee, the founder of Cowboy Ventures, created the phrase when she referred to the 39 firms with a valuation of over $1 billion as unicorns. Originally, the phrase was meant to emphasise the rarity of such businesses. Since then, the definition of a unicorn startup has stayed unaltered. The number of unicorns, on the other hand, has increased.
List of new Unicorn Startups in India
Mindtickle is a sales readiness platform that helps with onboarding, product training, coaching, and ongoing readiness. It was founded in 2011. Fast-growing firms can use the company’s critical sales solution to prepare their sales team in a scalable and effective manner. With the infusion of $100 million in Series E funding led by Softbank Vision Fund II, Mindtickle became a unicorn on August 6, 2021.
upGrad is an online tutoring programme for individuals interested in pursuing higher education. UpGrad delivers a wide choice of industry-ready courses, including Bachelor’s degrees, MBAs, Data Science, and Machine Learning courses, and mLearning, through partnerships with some of the world’s finest universities. The firm acquired Unicorn status on 2021 August 6 through fundraising amounting to $185 million.
CoinDCX, situated in Mumbai, is a cryptocurrency exchange aggregator in India. The company is involved in financial services that are crypto-enabled. CoinDCX aspires to create borderless financial services, allowing for a more efficient and smooth flow of funds backed by unbreakable security. CoinDCX became a unicorn after raising $90 million in Series C funding. As a result, the company became the first cryptocurrency unicorn in India.
Blackbuck is a truck supplier that aims to solve the transportation and logistical difficulties of innumerable Indians. It is one of the major truck aggregators in India. Today, Blackbuck claims to have India’s largest transportation network, complete with freight and fleet management technology platforms. The company currently has a fleet of over 12,00,000 trucks and serves over 2000 sites with over 15,000 satisfied customers.
A new Unicorn startup Droom is an online marketplace for used automobiles, motorcycles, scooters, and other vehicles, as well as other goods and services. The company, which is powered by cutting-edge data science technology, assists its consumers in smoothly buying and selling autos and other things. Droom is India’s largest vehicle platform online, with a massive 80% market share of online automobile transactions. It is also one of the country’s major E-Commerce enterprises.
ShareChat is an Indian video-sharing social media platform founded in 2015 by Ankush Sachdeva, Bhanu Pratap Singh, and Farid Ahsan under Mohalla Tech Private Limited. Bengaluru, Karnataka, is the company’s headquarters. The ShareChat App is content consumption and sharing platform that caters to India’s 1.17 billion wi-fi users. Customers now can share their posters and unique content thanks to ShareChat’s platform, which allows them to create user-generated content. Following that, the company raised $500 million from investors, bringing its valuation to $3 billion.
Mikhil Innani, Dharmil Sheth, and Dhaval Shah founded PharmEasy in 2015 as an online healthcare delivery platform. The company is based in Mumbai, Maharashtra, and is currently India’s largest online healthcare aggregator. In addition to selling drugs online, the portal assists patients in finding the nearest local pharmacy and diagnostic centre depending on their medical needs. It distributes medications in over 1000 cities and 22,000 zip codes. PharmEasy claims to have fulfilled over 1.5 million orders and to have over one lakh pharmaceuticals on its website.
Kunal Shah founded CRED, a Fintech company in 2018. The company is based in Bengaluru, Karnataka, and is well known for its app, which allows users to make credit card purchases while also earning rewards. CRED provides its clients with a wide range of extra services, including credit and a premium catalogue of products from leading brands, in addition to prizes. Over 5.9 million people have used the platform so far, and it has processed roughly 20% of all credit card bill payments in the country. CRED RentPay, CRED Cash, CRED Pay, CRED Store, and CRED Travel Store are the five key products offered by CRED.
Vidit Aatrey and Sanjeev Barnwal, peers, created Meesho, a renowned Indian social E-commerce startup, in 2015. The corporation is based in Bengaluru, Karnataka, and it was designated as a Unicorn because it assists small and medium enterprises, as well as individuals, in launching online storefronts using social media platforms such as Facebook, Instagram, and Whatsapp. Meesho also has an online reselling website and app that allows users to sell their products without having to make any financial expenditures. It is estimated that there are 2.6 million resellers in the country.