As of 2022, India is home to 105 unicorns as of July 19, 2022, with a total valuation of $338.50 billion. Unicorn Company, businesses or startups are not as unusual today as they once were, but creating one is not simple. To climb the unicorn ladder, a business needs to put in a lot of effort, dedication, and endurance. In terms of total unicorn production, the US now leads, with India in third place. Regarding the production of unicorns, India has surpassed the UK and China is ranked second.
Only 17% of the potential unicorns sell physical assets; the rest of them provide software and services. Up to 37% of vendors are business-to-business, while 63% are dealing directly with customers.
The most Unicorns in India were born in 2021, 2020, and 2019 with 44, 11, and 7 unicorns born each year, respectively. Globally, COVID-19 has brought about a great deal of socioeconomic suffering, but it is at this time that the tenacious Indian entrepreneurs have worked effortlessly to support both the economy and COVID-19 relief efforts.
We saw the birth of more than ten unicorns in India in 2020. With 44 unicorns blasted into the environment and countless unicorns waiting in line, the motto of 2021 has been “It’s raining unicorn.”
Let’s read this article in detail to discover more about the Indian unicorn startups and its main characteristics.
For those who are unfamiliar with this notion, let me explain “What does this Unicorn mean?”
A startup firm with a valuation of over $1 billion is referred to as a unicorn startup. It is frequently employed in the venture capital sector. Aileen Lee, a venture capitalist, is credited with popularizing the word initially. Because unicorn startups are so uncommon, creativity is needed. Due to their enormous size, unicorn investors typically are private investors or venture capitalists, making them unavailable to regular investors.
The rise of unicorns in India is due to some of the following attributes that are highlighted below:
- Government Favorable policies and regulations.
- Easy medium of Fundings from investors
- Innovative Thoughts
- Taxation and flexibility
- Global Coverage
Here are the lists of Top Unicorns in India that mark their success by providing best in class product and services to the people:
Freshworks: For organisations of all sizes, Freshworks is a leading provider of cutting-edge SaaS solutions. These solutions address a variety of complex business problems. Technology that works for everyone is created by Freshworks, making it easy for departments like IT, customer service, sales, marketing, and HR to complete tasks and satisfy consumers. In contrast to conventional software, this. Freshworks’ SaaS is used by more than 50,000 organisations to enhance the employee and customer experience. Freshworks, which is also included in the unicorns of India, is the first Indian software as a service (SaaS) company to be listed on American stock markets.
Moglix: Moglix is the leading online supplier of industrial equipment and supplies in India. In 2015, Rahul Garg established Moglix, an Indian industrial business-to-business marketplace. It may be found in Noida. The company, which is regarded as one of India’s unicorns, provides industrial supplies such as MRO, Safety, Electrical & Lighting, Cleaning & Laundry Supplies, Office Supplies, Tools, and countless other essentials for the industry.
Nykaa: India-based Nykaa operates an online store selling cosmetics. Falguni Nayar, a former managing director at Kotak Mahindra Capital Corporation, founded Nykaa in April 2012. Through its websites, mobile applications, and in more than 100 physical locations, the company sells goods for fashion, wellness, and beauty.It became India’s first unicorn firm to employ a female CEO in 2020. By 2020, it will provide 200,000 products from more than 2,000 enterprises across all of its channels.
ShareChat: Mohalla Tech Pvt Ltd, based in Bangalore, developed the social media and networking site ShareChat for Indian users. On January 8th, 2015, Ankush Sachdeva, Bhanu Pratap Singh, and Farid Ahsan incorporated it. In 15 Indian languages, ShareChat has more than 250 million monthly active users. The company’s app offers features including private messaging, tagging, and a personal messaging function that let users to exchange films, jokes, music, and other language-based social material with other anonymous users.
Pine Labs: Pine Labs is a leading omnichannel merchant commerce platform in India and Southeast Asia. The company focuses on building and hosting a spectrum of fintech solutions spanning from digital payments to loyalty programmes. In India, the company employs around 70,000 people, including well-known retailers such as Marks & Spencer Retail, Pantaloons, Shoppers Stop, and Westside.
HighRadius: In order to help organisations automate Accounts Receivable and Treasury operations, HighRadius, a Fintech enterprise Software-as-a-Service (SaaS) provider, leverages autonomous systems that are driven by artificial intelligence. Saas of Highradius has been utilised by more than 700 of the largest companies in the globe. It has locations in Hyderabad and Houston.
MyGlamm: Cosmetics and personal care products may be purchased from the Indian online store MyGlamm. It was founded in 2015 with its headquarters in Mumbai, India. The Good Glamm Group is the parent company of the direct-to-consumer beauty startup MyGlamm. As a mobile beauty salon service, Darpan Sanghvi founded MyGlamm in 2015. In 2017, it was revived as an online cosmetics company in India.
CRED: India’s Bangalore is home to the financial company CRED. In 2018, Kunal Shah launched Cred. CRED is a rewards-based credit card payment system. By 2021, the company had more than 5.9 million new customers and was responsible for handling 20% of all credit card bill payments in India. Cred offered five different products: Cred RentPay, Cred Cash, Cred Pay, Cred Shop, and Cred Travel Store.
Digit Insurance: An insurance provider with roots in Bangalore, Digit Insurance was founded in 2016. One of the top general insurance providers in India, Digit Insurance, is on a mission to simplify insurance for consumers. Purchase/Renew Automobiles, Bikes, Trips, etc. Easy and quick renewal process for Go Digit auto insurance. perfect claim settlement procedure with a 96 percent claims settlement record.
Upstox: An online trading platform is called Upstox. By providing the appropriate financial education to form the appropriate investment judgements at the appropriate moment, Upstok assists drug users in making investments. created in 2011 by Kavitha Subramanian, Shrini Viswanath, and Ravi Kumar. The goal was to provide a trading platform that was simpler and had lower brokerage. Mumbai, Maharashtra, is where the headquarters are.
Mamaearth: Mamaearth, an Indian unicorn company, focuses on wellbeing, health, and fitness. The corporate headquarters are located in Gurgaon, Haryana. The name on the registration is Honasa Consumer Pvt Limited. It functions as a one-stop shop for all things pertaining to child, skin, and hair care. Mamaearth is the first company in Asia to offer MADE SAFETM Certified Products. In order to provide toxins-free, natural infant care, skincare, haircare, and other goods for babies and everyone else, it was founded in 2016 by Varun and Ghazal Alagh.
NoBroker: Alumni of the IIT and IIM Ahmedabad, Amit Kumar Agarwal, Akhil Gupta, and Saurabh Garg founded NoBroker in 2014. It is a Bangalore-based real estate search engine that establishes direct connections between buyers, sellers, and owners as well as between tenants and owners of real estate. The only parties that can communicate with one another are landlords and tenants/buyers, thanks to the regulated, algorithm-based non-broker marketplace known as NoBroker. Also, it offers financial services including rent, mortgage loans, and other legal services associated with real estate.
CureFit: The health and fitness company CureFitfocuses on a number of different areas, including nutrition, yoga, and mental wellness. CureFit was launched in May 2016 by Myntra co-founder Mukesh Bansal and Ankit Nagori, a former chief operating officer of Flipkart. The cure.fit mobile app was launched in May 2017 for both iOS and Android devices. The programme follows a freemium business strategy. It provides free DIY fitness videos that can be seen at home. Using a simplified activity point system, users of the app may also plan classes and track their progress.
Delhivery: Delhivery is India’s leading local and international supply chain services supplier. Due to a centrally located warehouse management system, Delhiveryis able to consolidate goods from several sources into a single location. There are 86 Delhivery portals around the country, all of which function as both origin and destination gates.
Unacademy: Technology for online education in India is offered by Unacademy, a company located in Bangalore. Gaurav Munjal started it in 2010 as a YouTube channel. The company has a network of over 12,000 educators and provides study materials for a variety of professional and academic admission examinations. Classes at Unacademy are accessible as both free and paid videos.
Postman: Postman is an API platform that allows developers to create, test, and iterate on APIs. Postman was founded in Bangalore in 2014, and it is still present there. The company headquarters were later transferred to San Francisco. Postman increases collaboration and streamlines every stage of the API lifecycle to help you develop better APIs faster.
Rebel Foods: Rebel Foods is an Indian company that manages 11 cloud kitchen brands such as Faasos, Behrouz Biryani, and Oven Stories. As of April 2022, it was the world’s largest cloud kitchen restaurant chain, with over 450 locations distributed over 75 cities in ten countries, including India. Rebel Foods owns and runs over 450 cloud kitchens in various nations. The organisation is committed to achieving the optimal combination of high-end culinary expertise and technology infrastructure.
MobiKwik: MobiKwik is a 2009 Indian payment service firm that provides a mobile phone-based payment system and digital wallet. You can now pay your bills instantly, recharge your phone, and earn and redeem points whenever and wherever you want with the MobiKwik wallet.
Groww: To create investments that are incredibly user-friendly, lightning-quick, and crystal transparent. That was made possible using the Groww app. Groww is an online investment platform where users may buy stocks and mutual funds. A trading app that is completely safe and secure, as well as capable of implementing a high level of encryption.
Dream11: Dream11 is an Indian fantasy sports website where participants may participate in fantasy cricket, hockey, football, kabaddi, handball, and basketball. The site is now being used by around 120 million individuals. In 2017, the company partnered with three basketball, football, and cricket competitions. Dream11 was named the Official Fantasy Partner of the NBA, the Caribbean Premier League, and the Indian Super League (NBA). After that year, they partnered with the Indian Super League as their official Fantasy Football Partner.
PharmEasy: Pharmeasy is an Indian health-tech ecommerce company. PharmEasy, a consumer healthcare “super app,” provides customers with on-demand, home-delivered access to a wide range of prescription, over-the-counter, and other healthcare goods, as well as full diagnostic test services and teleconsultations to suit their healthcare needs. It primarily provides four services: online pharmaceuticals, online healthcare items, diagnostic testing, and e-consultancy.
Physics Wallah: Alakh Pandey, popularly known as Physics Wallah – a YouTube channel – is an ed-tech platform for students in the sixth to twelfth grades, as well as those studying for the NEET and JEE examinations. He promises to give high-quality information at a reasonable price, with over 7 million enrolled students, 10 million YouTube followers by 2022, and an educational website with video lectures and study material from grades six to twelve.
Pristyn Care: Pristyn Care, which is situated in Gurugram, India, specialises in minimally invasive medical and surgical operations. It includes about 700 affiliated hospitals and 100 clinics. Harsimarbir Singh, Dr. Vaibhav Kapoor, and Dr. Garima Sawhney launched the firm in 2018 and it will become a unicorn (a company with a valuation of more than one billion USD) in December 2021.
Conclusion
The term “unicorn” has evolved from being only a mythical animal to becoming a frequent topic in talks about business and finance. Today, unicorn businesses have established themselves in the market and gained notoriety. Having said that, not every unicorn will turn out to be a successful business. The idea is that after reaching a milestone, any business must continue to work hard.
I hope this Unicorns in India article helps you make the connections you need to carry out all of your preparation!
