It is fabulous that Indian startups becoming more competitive in the world market. In just four months of this year (2021), 10 Companies enters the Unicorn Club which means these 10 companies have a valuation of more than $1 Billion.
You may think that what is Unicorn club and how we understand that the company is a Unicorn company or not? In the venture capital industry, a unicorn is a startup that has a valuation of $1 billion or more. Unicorn term was initially said by Aileen Lee (Founder of Cowboy Ventures). She referred 39 startups with a valuation of $1 Billion as unicorns
One more interesting fact there is one more term known as Decacorns (a super unicorn) which is referred to a startup that has a valuation of $10 Billion.
In the first four month of 2021 we got 10 more unicorns. According to the industry experts, it is expected that India will get 10 more new Startup unicorns by the end of 2021. Hopefully there will be around 50 unicorns in India by the end of this year.
List of 10 New Unicorns
|Digital Insurance||Insurance Tech|
|Five Star Business Finance||NBFC|
In the last three days Meesho and CRED became unicorns and Today we got the news for Pharmeasy and Groww
About the Unicorns
After raising 18 Million Dollars from existing investors at a valuation of $1.9 Bn, Bengaluru-based insurance technology startup Digit Insurance became the first Indian startup to enter the unicorn club in 2021. Following a 31.9% increase in the last nine months, it has raised the funding as growth capital to meet the solvency margin requirement.
Innovaccer, based in Noida and San Francisco, has become the first Indian unicorn after raising $105 million in a Series D round by Tiger Global Management. After the current round, the health-tech startup is valued at $1.3 billion and enters Unicorn Club. By the end of 2021, Innovaccer expects to have achieved a compound annual growth rate (CAGR) of 100%, thanks to growth in the healthcare service providers, payers, and life sciences sectors.
Five Star Business Insurance
Investors in non-bank moneylender Five Star Business Finance are in talks to buy the company for $1.2-1.3 billion (Rs 9,000 crore), valuing it at $1.2-1.3 billion (Rs 9,000 crore) and making it India’s new unicorn. Matrix Partners, Norwest Venture Partners, and private value goliath TPG are among the financial backers of Five Star, which provides tied down advances to independent companies.
SoftBank Group led a $300 million round of funding for Bangalore-based social commerce startup Meesho Inc., valuing the company at $2.1 billion. Meesho, an online sales platform for micro, small, and medium businesses in India. Future plans to use the funds to expand its talent pool in all areas, including technology, product, and business.
After raising $100 million (approximately 724 crores) in a Series C round led by existing investor Tiger Global, Infra.Market, a B2B startup catering to the construction and infrastructure sector, has joined the unicorn club. Infra.Market assists small businesses, such as paint and cement manufacturers, in improving the quality of their products and complying with various regulations.
Cred, which was founded less than three years ago, is a company that works with financial institutions and consumer brands to reward customers for paying their credit card bills on time. Cred, a financial technology company, has completed a $2.2 billion fundraising round in Series D.
Related – CRED enters Unicorn Club
Read the article CRED Revenue Model where you can understand that how CRED earns money and provide the facilities to the users for free.
API Holdings (Parent company of PharmEasy), has raised $350 million in new funding from Prosus Ventures and TPG Growth. Temasek, CDPQ, LGT Lightrock, Eight Roads, and Think Investments were among the existing investors who also took part in this round. The round would also include secondary transactions, according to an ET report.
Groww, an investment app, has become the latest Indian fintech unicorn startup, has raised $83 million in the latest funding round (Series D) round led by Tiger Global. Groww achieves this in less than five years
They claim to have more than 15 million registered users for its service, which allows Indians to invest in stocks, mutual funds, ETFs, IPOs, and gold for free through its website, Android, and iOS applications.
The newest member of the unicorn club is Sharechat. The company behind this app, Mohalla Tech, has raised 502 million dollars in its recent funding round funded by capital firms Lightspeed Ventures and Tiger Global.
Gupshup, a messaging startup for conversations, became the tenth unicorn this year after raising 100 million dollars from Tiger Global Management, now the valuation is $1.4 billion, according to the company.