India's unicorn success has spread through a range of industries, including e-commerce, education technology, food distribution aggregation, and even transportation logistics. Despite the pandemic's ravages, funding and expenditure continued to pour in, resulting in the development of as many as 11 new unicorns in 2020. This unicorn craze is encouraging aspiring entrepreneurs all over India to dream big.
What is a Unicorn Startup?
In the venture capital industry, a unicorn is a term used to describe a privately owned startup business with a valuation of more than $1 billion. There are more than 600 unicorns around the world as of March 2021. A Decacorn is worth more than $10 billion, and a Hectocorn is worth more than $100 billion. The total number of Unicorn companies around the world is 612 with a total cumulative valuation of $2,0039 billion.
There are over 35 unicorn startups in India with a total valuation of over $ 80 billion. The below list is based on the highest valuation according to the Venture Intelligence Unicorn Tracker.
Paytm, founded by Vijay Shekhar Sharma in 2010, is worth $16 billion. In the Hurun Global Unicorn List 2020, the Noida-based digital payments company is ranked 13th. Paytm joined the unicorn club in 2015, with a valuation of over $7 billion in 2015, which has since risen to $16 billion in 2020. Investors of Paytm include Saama Capital, SAIF, Alibaba, and Berkshire Hathway. Paytm was ranked ninth in the world ranking, with a valuation of 16 billion dollars, making it the only startup to make the top ten.
Paytm is currently available in 11 Indian languages and provides online services such as mobile recharges, utility bill payments, travel, movie, and event bookings, as well as in-store payments using the Paytm QR code at grocery stores, restaurants, parking, tolls, pharmacies, and educational institutions.
BYJU'S learning programs are tailored for students in grades LKG through 12 as well as students studying for competitive exams such as JEE, NEET, UPSC, and bank exams. Byju's is an ed-tech platform located in Bangalore. It is a freemium online tutoring and coaching company that was established in 2011 and operates on a subscription basis. It was created by Byju Raveendran and is used by over 15 million students worldwide, with over 9,00,000 paying subscribers.
Aarin Capital, Sequoia Capital, Lightspeed Ventures, Tencent, General Atlantic, Tiger Global are investors of the company. The company's valuation is $11.7 billion and is looking for a fresh seed of funding.
Oyo Rooms (stylized as OYO), also known as Oyo Hotels & Homes, is a leased and franchised Indian hospitality chain of hotels, homes, and living spaces. OYO was founded in 2013 by Ritesh Agarwal and consisted primarily of budget hotels at the time. According to the most recent round of investment, the firm is worth $10 billion. Lightspeed Ventures, Sequoia Capital, SoftBank are investors of the company.
Ola is India's largest transportation network and one of the world's largest ride-hailing firms, with operations in more than 250 cities across India, Australia, New Zealand, and the United Kingdom. Ola Cabs (stylized as OLA) is a ridesharing company based in India that offers services such as vehicle rental and food delivery. ANI Technologies Pvt. Ltd., based in Bengaluru, Karnataka, India, founded the business. Ola was priced at about US$ 6.5 billion as of October 2019. The business is owned by several venture capitalists, including Tiger Global, Matrix Partners, Steadview, SoftBank, Tencent. Ola's electric vehicle company was spun off into a separate unit called Ola Electric Mobility in February 2019 with US$ 56 million in funding money.
Pankaj Chaddah and Deepinder Goyal formed Zomato in 2008 as a restaurant aggregator and food delivery service in India. Zomato purchased Uber Eats' Indian company in an all-stock deal on January 21, 2020, offering Uber Eats 10% of the combined business. Info Edge, Sequoia Capital, Vy Capital, Alibaba are investors of the company. Zomato offers restaurant content, menus, and user feedback, as well as food delivery from partner restaurants in a few cities. During the COVID-19 outbreak, Zomato also started delivering groceries. Zomato is valued at around $5.4 billion.
Dream11 is a sports platform in India that allows users to play fantasy cricket, hockey, football, kabaddi, and basketball. Formalized paraphrase Dream11 became the first Indian gaming company to join the "Unicorn Club" in April 2019. Harsh Jain and Bhavit Sheth co-founded Dream11 in 2008. After technology company Vivo pulled out for a year, Dream11 secured the rights to fund the 2020 Indian Premier League for $2.22 billion on August 18, 2020. Dream11, Mumbai based company is valued at $ 5 billion. Kalaari Capital, Tencent, Multiples PE, Steadview, Falcon Edge Capital are investors of the company.
Swiggy, an online food delivery service, is now estimated at $3.5 billion. In August of 2014, the Bengaluru headquarters company began operations. Swiggy introduced Swiggy Go, an instant pickup and drop service, in September 2019. The service is used for a range of items, including laundry and paper or package deliveries to both business and retail customers. Swiggy was founded by Nandan Reddy, Sriharsha Majety, and Rahul Jaimini in 2014. Swiggy is valued at $3.6 billion and its investors include Accel, SAIF, Norwest, Naspers, and Tencent.
Girish Mathrubootham and Shan Krishnasamy 3 formed Freshworks in October 2010. San Bruno, California is the company's headquarters, with foreign branches in India, the United Kingdom, France, Australia, and Germany. Accel, Tiger Global Management, CapitalG, and Sequoia Capital India have all invested in Freshworks. This funding was primarily used for research and development in order to improve existing products, develop new products, and launch marketing campaigns.
Udaan is a B2B e-commerce platform that aims to solve core trade problems for small, medium, and large businesses across India. It is the country's largest national distribution network, allowing retailers and companies to procure products from suppliers, brands, white labels, importers, and other sources all on one platform. Udaan gives users access to the power of technology to help them expand their businesses.
Paytm released its Paytm Mall app in February 2017, enabling customers to buy from 1.4 lakh registered sellers. Paytm Mall is a business-to-consumer (B2C) model inspired by TMall, China's largest B2C shopping site. To ensure customer confidence, sellers must move through Paytm-certified warehouses and channels. Paytm Mall has partnered with over 40 couriers and has 17 fulfillment centers throughout India. In March 2018, Alibaba Group and SAIF Partners invested $200 million in Paytm Mall.
Zerodha Broking is a member of the NSE, BSE, and MCX is an Indian financial services firm that provides retail and institutional broking, currency and commodities trading, mutual funds, and bonds. The business, which was established in 2010, is headquartered in Bangalore and has offices in several major Indian cities. Zerodha was the largest retail stockbroker in India by active client base as of December 2020, accounting for upwards of 15% of daily retail volumes across Indian stock exchanges. Zerodha joined the unicorn group in June 2020, with a self-assessed value of about $1 billion. This estimation was based on the company's ESOP buyback program, which priced each share at more than four times its book value of $700 per share.
BigBasket is an online grocery delivery service based in India. Customers are mainly served with supermarket items found in convenience stores, as well as household essentials and food supplies. BigBasket was founded in December 2011 and is based in Bangalore, India. BigBasket received a $150 million investment from Mirae, Alibaba Group, and CDC Group in March 2019, valuing the firm at over $1 billion. Sudhakar, Hari Menon, Vipul Parekh, Abhinay Choudhari, and Ramesh formed BigBasket in 2011.