Amid the ongoing pandemic, the startup companies have prompted to reach the new height as their achievement. Despite the major economic hit faced by the country, Indian unicorn startups in 2020 managed to make their way to billion-dollar valuation clubs.
Let us know about the Indian unicorn startups in 2020 in brief.
|Founders||Abhijit Kane, Abhinav Asthana and Ankit Sobti|
|Select Investors||Matrix Partners India, Tiger Global, Sequoia Capital India, DST Global|
Bangalore based startup, RazorPay is one of the Indian unicorn startups in 2020. The fintech company made its first step in 2013 and within the same decade, it touched $1 Billion. The operation includes acceptances, processing and disbursement of online monetary transaction. It is available for small businesses and enterprises. Lately, the startup has extended its branches to provide loans to businesses. It has also launched a neo-banking platform that enables the company to issue corporate credit cards, among all other products.
The clients of RazorPay include Oyo which is a budget lodging decacorn. It also has fintech firm Cred, e-commerce platform Flipkart, social media Facebook. Not to forget the top food delivery startups such as Zomato and Swiggy. Apart from these, it also has online learning platform Byju’s, supply chain platform Zilingo, telecom giant Airtel and lastly, travel ticketing firms Yatra and Goibibo.
|Founders||Harshil Mathur, Shashank Kumar|
|Select Investors||Blume Ventures, Nexus Venture Partners, Sequoia Capital India, SAIF, General Atlantic, SoftBank|
Unacademy started as a mere YouTube hobby and now it has been declared as the unicorn startup 2020. The edtech company has indeed delivered an immense job in setting up its name among the Indian unicorn startups in 2020. It now claims to have become the largest learning platform in India. It has connected to a network of over 18,000 educators and over 350,000 subscribers. Besides important life goals, the company also caters to the learning needs of over 35 competitive exams.
The pandemic has fortunately proven to be a boon for this company. Due to the absence of physical classes, the online classes emerged as the only option open for most of the students. They offered live classes as well as free tutorials which are even available on YouTube and other platforms. This has made education through Unacademy accessible to as many people as possible.
|Sector||SaaS - API Development & Testing|
|Select Investors||Nexus Ventures, Charles River Ventures, Insight Venture Partners|
Started in Bangalore and headquartered in San Francisco, Postman is another in the list of Indian unicorn startups in 2020. It has become a leading platform for application programming interface (API) development. It targets mainly the coders and is used by 500,000 companies all around the globe. The Postman API Platform enables the user to accelerate their pace as well as the effectiveness of software development.
The Postman got enlisted among the Indian unicorn startups in 2020 in just 6 years. It has successfully included itself as one of the most used APIs. In today's world, communication, payments and collaborations have become API-centric. So, it is almost a mandate for companies to assign the API in their processes and programs.
|Select Investors||Techpro Ventures, TVS Capital, Sharrp Ventures, TPG Growth|
Launched in 2012, Nykaa has now partnered with 1,500 brands and offers 3 lakh products. The e-commerce platform that started as the sole beauty and wellness product selling website in India. It has now catered to Nykaa men, that offers products for men precisely. Within 8 years of its launch, the Mumbai-base startup reached the Indian unicorn startups in 2020 April.
Through its omnichannel reach and curated product offering, Nykaa has successfully been instrumental in shaping the beauty as well as the lifestyle industry throughout India. Also, during the lockdown, it has also started delivering essentials, which levelled up their sale upto a great extent.
|Startup Name||Pine Labs|
|Founders||Lokvir Kapoor, Rajul Garg, Tarun Upaday|
|Select Investors||Sequoia Capital India, New Atlantic Ventures, Altimeter Capital, Temasek, Mastercard|
After 22 years of wait, Pine Labs has successfully made its way to the list of Indian unicorn startups 2020. One of the oldest companies on the list, Pine Labs started its journey in 1998. The company currently counts a few platforms such as Flipkart, PayPal Ventures, Temasek Holdings, Sequoia India among its investors. It also has made its competition with platforms such as Razorpay, PayUMoney, Ezetap, MSwipe and so on.
Pine Labs initiated with as a card-based payment as well as a provider for loyalty solutions for the retail petroleum industry. In 2012, it emerged to offer the merchants a PoS platform as their “needs evolved". It later grew its business and has captured markets including Southeast Asia and the Middle East.
The only stock brokerage firm from the list of Indian unicorn startups in 2020 who claims to be the self-made startup, is Zerodha. The founder did not include so many investors for raising money for his business. It is because the startup has remained bootstrapped for the last ten years. Not only in India, but It also ranks 108th in the global unicorn ranking.
They have enabled more than 3 million users to avail millions of trade so far. As for their future plan is concerned, they are planning to build features around to nudge the users to trade and invest better through their platform even more.
So, we have come to the end of the article. These Indian unicorn startups in 2020 will make even larger steps in near future. Some had already made their venture set up in abroad, while some others are yet to catch up the pace and make their presence outside real soon.
|Startup Name||First Cry|
|Founders||Amitava Saha, Supam Maheshwari|
|Select Investors||Softbank Vision Fund, Valiant Capital Partners, Vertex Ventures|
Firstcry is baby products marketplace based in Pune, it entered unicorn club after raising 296 Mn in Series E funding from Marquee investor Softbank's Vision Fund.
The funding round took company's valuation to 1.2 Mn. Firstcry was founded in the year 2010 by Supam Maheshwari and Amitava Saha. Firstcry offers different categories of baby and kids products from clothing to school essentials. The company has reached 4 Mn customers. It has over 300 stores spread across 125 cities. Firstcry claims to offer 2 Lakh baby and kids products across 2,000 brands.
|Founders||Vikram Chopra, Gajendra Jangid, Ruchit Agarwal and Mehul Agrawal|
|Select Investors||Exor Seeds, Moore Strategic Ventures, and Unbound|
Cars 24 is Gurugram-based used car marketplace. It entered unicorn club last year by raising $200 Mn in series E funding round by DST Global.
Vikram Chopra, Gajendra Jangid, Ruchit Agarwal, and Mehul Agrawal founded Cars 24 in the year 2015. They have created an eficient and reliable way for car owners to sell their used cars at the best price.
Cars24 has been valued above $1 Bn after the Series E funding round by DST Global. Their existing investors Exor Seeds, Moore Strategic Ventures, and Unbound also participated in the Series E funding round. Cars24 will use the funding to invest aggressively in technology and product innovation and scale new business verticals.
The company intends to scale up its presence from 130 cities to over 300 Tier II, III and IV cities and towns. At present, it claims to have over 10,000 channel partners registered on its platform and intends to increase the network to more than 20,000 partners.
|Select Investors||Google, Microsoft, Alpha Wave Incubation, Sofina Group, Lupa Systems|
Dailyhunt has become India's first tech unicorn focused on Vernacular content. It raised $100 Mn funding from Google, Microsoft, and Falcon Edge's Alpha Wave Incubation. Existing investors Sofina Group and Lupa Systems also participated in this round.
Dailyhunt will use this funding to scale up its recently launched short video app Josh, further develop its content creator ecosystem and double down on its artificial intelligence and machine learning push for content discovery and recommendations.
Earlier in 2020, the company raised about $10 Mn (INR 73 Cr) in primary capital from B Capital. It planned to use the funding to rework its ownership structure after the Indian government reiterated its decision of capping the foreign investment for digital media entities at 26% by October 2021.
Dailyhunt was founded in 2009 as Newshunt, the Bengaluru-headquartered startup began as a news aggregator. Verse Innovation acquired Newshunt in the year 2012, Later in August 2015, NewsHunt rebranded itself to Dailyhunt to offer news in vernacular languages. Dailyhunt offers content pieces every day in 14 languages, which include multiple regional languages such as Marathi, Gujarati, Tamil and Bhojpuri.
It claims to have more than 263 Mn monthly active users across all platforms, with 208 Mn monthly active users on its app.
|Founders||Sudheer Koneru and Dheeraj Koneru|
|Select Investors||Tiger Global Management, Advent Tech, Steadview Capital|
Spa and salon software startup Zenoti entered the unicorn club last year when it raised $160 Mn in a Advent International led Series D funding round, led by through Advent Tech and Sunley House Capital. The round also saw participation from Tiger Global Management and Steadview Partners.
Zenoti was founded in the year 2010 by Sudheer Koneru and Dheeraj Koneru, Zenoti is an all-in-one, cloud-based software for salons, spas, and medi-spas. It is the first vertical SaaS startup to enter India’s unicorn club of startups.
The company will be looking to increase its workforce from 580 to 900 by next year. This plan will be in line with Zenoti’s efforts to double its revenue in 2021.
|Founders||Naveen Tiwari, Rohan Choudhary, Bikash Chowdhury|
|Select Investors||Google, Maithril Capital|
Glance, owned by adtech unicorn InMobi, entered the unicorn club after it receiving a $145 Mn investment from Google and existing investor Mithril Capital. The famous Indian short-video app Roposo is owned and operated by Glance.
Glance delivers AI-driven personalised content in multiple languages including English, Hindi, Tamil, Telugu and Bahasa on the lock screen of Android smartphones in a visually rich format. It claims to have 115 Mn daily active users (DAUs) who spend 25 minutes per day consuming Glance’s content.
Roposo is one of the softwares, which gained popularity after TikTok was banned in India. It claims to have 33 Mn monthly active users spending 20 minutes daily consuming content across multiple genres in more than 10 languages.
Glance has raised $190 Mn till date from two funding rounds. Its last funding round was a venture round worth $45 Mn, led by Mithril Capital Management.
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