The Latest List of Top Upcoming Unicorns in India: Who will Achieve the Milestone Next?

Upcoming Unicorns in India

You’ve probably heard the term “unicorn company” before. But what, exactly, is a unicorn company?

In short, a unicorn company is a startup that’s achieved a billion-dollar valuation. And according to recent reports, India is home to the world’s third-largest population of unicorns. That’s pretty impressive!

But with so many unicorns popping up in India, it can be hard to keep track of them all. In this article, we’ll introduce you to the list of upcoming unicorns in India.

Once a startup reaches a valuation of more than $1 billion, it is regarded as having achieved unicorn status in the financial world.

In India, increased financing activity is anticipated to produce over 100 unicorns by 2022.

42 unicorns were produced in 2021 as a result of fundraising efforts, according to HDFC Securities.

A variety of businesses with a variety of IT service foundations are among the forthcoming start-ups, or “Gazelles” in finance terminology, that are anticipated to attain valuations of $1 billion or above over the next two years. One of the well-known “Gazelles” that are anticipated to become unicorns in the next two years is the supplier of logistics solutions Shiprocket. Other notable “Gazelles” include the grocery delivery platform Zepto, the e-commerce site Turtlemint, the EV start-up Ather Energy, and the agritech start-up Ninjacart.

The report’s findings also show that, with 26 start-ups featured in the index, FinTech was the most noteworthy start-up industry, followed by E-commerce with 14 and SaaS with 10. Nearly half of the enterprises in the FinTech, E-commerce, SaaS, and EdTech sectors are represented in the index. AgriTech, AI, HealthTech, and shared economy are some of the other potential sectors in the Indian start-up ecosystem. FinTech start-ups continue to dominate the Indian start-up landscape, with a combined valuation of $11.5 billion, or 24% of the value of all prospective unicorns. E-commerce, SaaS, EdTech, and AI are the next most popular sectors, after FinTech.

Here is a list of upcoming unicorns in India who are likely to join the unicorn club in the near future, some of them are anticipated to achieve the milestone soon:

Fresh to home: Freshtohome is an online business that sells fresh, chemical-free meat, poultry and seafood. Shan Kadavil established the company in 2015. Every month, the company fulfils over 1.5 million orders for over 2 million customers across the UAE and ten major cities in India. The organisation leverages technology to eliminate intermediaries by bringing seller and buyer together on a single platform and is projected to be an emerging unicorn business.

Xpressbees: The Indian firm Xpressbees provides end-to-end supply chain solutions and is the fastest growing express logistics service provider. It was founded in 2015 in Pune, Maharashtra. It has 3000+ offices and service centers, 52+ cargo airports, 500+ customer care executives, 100+ hubs, 10Lacs sqft+ warehouse capacity, and 35,000+ field executives, with a distribution network that spans 2000+ towns and cities countrywide.

Cleartax: Bangalore-based Fintech company ClearTax was founded in 2011. In India, it offers software as a service (SaaS) and financial services, with a concentration on tax SaaS.  Cloud-based technologies for GST, e-Invoicing, e-Waybill, income tax, investments, and tax deductions are available for use by enterprises, MSMEs, tax experts, and taxpayers. For Indian businesses and people.

Zepto: Zepto is India’s fastest growing e-grocery company. Aadit Palicha and Kaivalya Vohra, both Stanford University dropouts, formed it in 2021. Zepto, headquartered in Mumbai, has offices in 10 of the country’s main cities, employs over 1,000 people, and offers over 3000 goods, including dairy, health and hygiene supplies, fresh fruits and vegetables, everyday culinary essentials, and fresh produce. Zepto will be one of the next unicorn businesses to emerge.

Shiprocket: Shiprocket is manufactured by BigFoot Retail Solution Pvt. Ltd., a firm launched in 2017. It is one of India’s largest tech-enabled logistics and fulfilment platforms, aiming to democratise the country’s eCommerce sector. Through collaborations with multiple courier providers, e-tailers may handle their orders and everyday company operations while optimising transportation.

GreyOrange: GreyOrange is a technology company that develops mobile robots for the warehouse sector that are controlled by software and artificial intelligence. The business uses clever robotic automation and AI-driven cloud software to combine faults in current warehouse technology and take advantage of market developments.

Khatabook: Digital ledger technology is offered by Khatabook, a financial company that primarily targets small enterprises. It helps small companies digitise financial records and handle online payments and supports 11 different languages. The business is based in Bangalore, India, and was established in 2018.

Ninjacart: Connecting businesses and farmers of fresh fruits and vegetables with kiranas, Ninjacart is the largest tech-driven supply chain platform in India. One of the most challenging problems in the world is being addressed by the largest fresh produce supply chain organisation. An on-demand grocery delivery business called Ninjacart was founded in 2015 by Thirukumaran Nagarajan. Presently, its supply chain can transport 1400 tonnes of perishables from fields to businesses in under 12 hours.

Rapido: Founded in 2015, Rapido is a logistics service provider and an aggregator of Indian bike taxis with offices in Bengaluru. With over 25 million downloads to date and operations in over 100 places, Rapido is the first and fastest-growing bike taxi app in India.

Ultraviolette Automotive: This technological start-up is working on the construction of an energy grid and electric two-wheelers. Narayan Subramaniam is the founder and CEO of Ultraviolette Automotive. The investment from ZOHO Corp. and TVS Motor Company is evidence of the company’s efforts to redefine the future of transportation. The headquarters of Ultraviolette Automotive are in Bangalore, Karnataka, India, and the company was established in 2015. This is anticipated to be one of India’s emerging unicorns.

Zilingo: Zilingo is an online marketplace and technology platform for the fashion industry. The Zillingo platform powers the global supply chain with cutting-edge trade solutions. In 2015, Dhruv Kapoor and Ankiti Bose founded it. Using the Zillingo platform, vendors may connect with manufacturers in Vietnam and Bangladesh.


You now know about the top upcoming unicorns in India. These startups are changing the landscape of India, with their innovative products and services.

India is quickly rising as a hotbed for generating unicorns. This is due to the conducive environment that is being created for startups, with the right mix of funding, mentorship, and infrastructure.

The future looks bright for Indian startups, and we can expect to see many more upcoming unicorns coming out of this amazing country.

Looking to invest in the next big startup? Check out this comprehensive guide to the top upcoming unicorn in India. From e-commerce to transportation, we’ve got you covered. So what are you waiting for? Start your research today!

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