List of 110 Unicorn Startups in India - Top Unicorns in India

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List of 110 Unicorn Startups in India and Counting |

2022 Updated
Sep 29, 2022 — 76 min read
India is becoming the world's fastest-growing

startup ecosystem with 110 Unicorn Startups, as of August 2023. In today's world, unicorn
startups are not as uncommon as before; however, building a unicorn startup is not easy. It
takes a lot of hard work, commitment, and perseverance throughout the startup's journey
to climb the ladder of unicorns, and the ones that have bagged the title of unicorns are
discussed in this article.
Unicorn Startup consists of two words, "Unicorn" and "Startup". Unicorn is a business term
used to define a startup with a valuation of over $1 billion. The term was coined by a
venture capitalist and a seed investor, Aileen Lee. On the other hand, Startups are privately
owned companies typically at the early stages of their development. On this note, know in
detail - What Makes A Unicorn Startup & How To Build One?
The country has been declared as the 3rd top

country hosting unicorn companies for the year 2021. India displaced the UK from the 3rd
position in 2021 when the subcontinent witnessed 33 startups turn unicorns while the
latter managed to witness only 15 unicorns then. The leading countries - the US added 254
unicorns whereas China saw 74 unicorns when it was last reported in 2021.
Being hopeful and supportive of the unicorn culture of India, the Union Minister of State for
Entrepreneurship, Skill Development, Electronics & Technology Rajeev Chandrasekhar said
that India will see a 10X increase in its unicorn count, in the next 2-3 years, which will reach
more than 1,000. The Indian government also mentioned that it expects the next wave of
startup founders to come from the Tier 2 and Tier 3 cities of India.
Startups that entered the Indian unicorn club in 2021 were Flipkart Moglix, BharatPe,
CoinDCX, upGrad, Groww, BlackBuck, Droom, OfBusiness, Meesho, Chargebee, CRED, Digit,
Gupshup, Infra.Market, MindTickle, Five Star Business Finance, Innovaccer, Pharmeasy,
Sharechat, Urban Company, Zeta, Eruditus, Zetwerk and BrowserStack, Apna, Vedantu,
Licious, CoinSwitch Kuber, Rebel Foods, CarDekho, MobiKwik, Acko, The Good Glamm
Group, CureFit, Mensa, NoBroker, Spinny, Upstox, Slice, Pristyn Care, GlobalBees,
Mamaearth and more. The country has seen over 40 companies become unicorns in 2021.
The Indian startups have reportedly raised around $42+ billion in funding across 1,584
deals in 2021. The startup ecosystem of India, where 90,000+ new startups have been
established since 2016, across 56+ different sectors in the country, has also managed to
create over 4.5 lakh job opportunities in the country. This has even got a special mention
from President Ram Nath Kovind in his Presidential address on 31 January 2022, where he
emphasized the new opportunities that the startups of India are ushering in.
In 2022, India saw various unicorn startups, including Mamaearth, Fractal Analytics, LEAD
School, Darwinbox, DealShare, ElasticRun, Livspace, Xpressbees, Uniphore, Hasura,
CredAvenue, Amagi, CommerceIQ, Oxyzo, Games 24x7, Open, PhysicsWallah, Purplle,
LeadSquared, OneCard, 5ire, Shiprocket, Tata 1mg, and Molbio Diagnostics.
A Celebration for 100 Indian Unicorns

With Neobank Open achieving unicorn status, India has been a country of 100+ unicorns.
The first unicorn was seen in India in 2011, and now, after a decade, India has crossed the
mark of 100 unicorns. The combined valuation of India's unicorns, which have raised a total
of around $99 billion in funding, is more than $347 billion as of August 2023. The boasting
of 100 unicorns is not a regular affair, and this is why the startup ecosystem has been
tossing in joy and swelling with pride for quite some time now. In the meanwhile, many
distinguished founders also voiced their thrill and joy for such an achievement.
“Crossing the 100th unicorn milestone is a proud moment for the country and the
entire startup ecosystem. This is just the beginning of a long journey,” said Sujeet
Kumar, the cofounder of B2B marketplace unicorn Udaan.
Vamsi Krishna of Vedantu also relished the mood that the startup ecosystem is in,
and said, “The rise of India as a global superpower is inevitable and entrepreneurs
will be the ones driving it. 100 unicorns are just a start. We will soon become the
startup capital of the world.”
Divya Gokunath, the cofounder of Byju's and the wife of Byju Raveendran also said,
“We became India’s 16th unicorn, just seven years after we started operations. The
valuation did not matter to us, but the milestone did because it was one of the few
at that time which put India on the map. Today, for the first 100 Indian companies
which made it, it’s a mark that we are on a mission to create something of value
and something from India for the world.”
The faster growth of companies and the sprouting of more unicorns is what India wishes
for now. This means that the companies should definitely have to be more serious, and
resourceful, and work with an integrated team of specialists to reach the unicorn milestone
and beyond. It also means that the Indian startups should forget racial, gender and caste
divides, and work with all of their strength, and resources. Here, what is striking among the
present unicorns is the apparent gender divide. Yes, only 15% of the present unicorns of
India have at least one female founder, while the remaining companies have no female as
their founders. This certainly needs to improve to give the upcoming companies a fresh
gear of growth. Though the situation is improving, for around 79% of the Indian unicorns
with female founders were incorporated after 2011, it still needs to be given considerable
thought and a whole lot of action.
Here we have listed 110 Indian Unicorn Startups, which is the total number of unicorns in
India at present in 2023! Don't miss out on the regular updates in this list by bookmarking
the article.
The following table is sorted by the year startups are turned into a unicorn (Latest to
oldest).
Startup Name Industry Founding Year
Zepto Quick Commerce 2021
Molbio Diagnostics HealthTech, MedTech 2010
Tata 1mg HealthTech 2015
Shiprocket Logistics 2017
5ire Fintech 2021
OneCard Fintech 2018

PhysicsWallah Edtech 2016
LeadSquared SaaS- CRM 2011
ElasticRun E-commerce Logistics 2015
LEAD Edtech 2012
Purplle E-commerce Personal Care 2012
DealShare E-commerce 2018
Xpressbees E-commerce Logistics 2015
Open Fintech 2017
Games24x7 Gaming 2006
Amagi Media, Advertising 2008
Fractal SaaS- Analytics 2000
Darwinbox SaaS- HR 2015
Livspace E-commerce Interior Design 2014
Uniphore SaaS- Conversational Automation 2008
Hasura SaaS- Programming Tools 2017
Yubi (Formerly CredAvenue) Fintech 2017
CommerceIQ E-commerce Management Platform 2012
Oxyzo Fintech 2016
Moglix E-commerce 2015
NoBroker PropTech 2014
MobiKwik Fintech 2009
Spinny Automotive, E-commerce 2015
MPL ESports 2018
Acko Insurtech 2016

ShareChat Media & Entertainment 2015
Eruditus Edtech 2010
upGrad Edtech 2015
Apna Marketplace- Employment 2019
Urban Company Home Services 2014
BharatPe Fintech Payments 2018
CarDekho E-commerce Automotives 2007
Licious E-commerce Meat Products 2015
Zetwerk Manufacturing 2018
Meesho E-commerce 2015
Blinkit (ex-Grofers) E-commerce- Groceries 2013
Pristyn Care Healthtech 2018
Vedantu Edtech 2011
Upstox Fintech 2010
Slice Fintech 2016
CRED Financial Technology 2018
Cult.fit Healthtech 2016
Mamaearth E-commerce Personal Care 2016
Infra.Market B2B E-commerce 2016
Five Star Business Finance Financial Services 1984
OfBusiness Building Materials 2015
CoinSwitch Kuber Cryptocurrencies 2017
CoinDCX Cryptocurrency Exchange 2018
BlackBuck Logistics 2015

Droom Marketplace- Automotives 2014
PharmEasy Online Pharmacy 2015
MyGlamm (Good Glamm Group) Personal Care Marketplace 2015
Digit Insurance Insurance 2016
Innovaccer Healthcare 2014
Groww Fintech 2017
Gupshup Enterprisetech 2004
Chargebee Financial Services 2011
Zeta Fintech 2015
BrowserStack Cloud Infrastructure and Software 2011
Mohalla Tech (Moj) Software 2015
Polygon (Formerly Matic Network) Blockchain 2018
MindTickle Saas- Enterprise Software 2011
Rebel Foods E-commerce Food Delivery 2011
Mensa Brands Ecommerce, Financial Services 2021
GlobalBees E-commerce Retail 2021
DailyHunt Media & Entertainment 2007
Unacademy Edtech 2015
Cars24 B2C E-commerce 2015
Glance, Inmobi Mobile Technology 2019
RazorPay Fintech 2014
Zerodha Stockbroker 2010
PhonePe Fintech 2015
FirstCry E-commerce 2010

Nykaa E-commerce 2012
Pine Labs Fintech 1998
HighRadius Fintech 2006
Verse Innovation Media & Entertainment 2007
Zenoti Saas- Spa and Salon Services 2010
Postman Saas- API Development and Testing 2014
Delhivery E-commerce Logistics Services 2011
Icertis Saas- Contract Management 2009
Ola Electric Automotive 2017
Druva Saas- Data Management 2008
BigBasket E-commerce- Groceries 2011
Rivigo Logistics 2014
Lenskart E-commerce- Eyewear 2010
Dream11 Fantasy Sports 2008
CitiusTech Healthcare Technology 2005
Freshworks SaaS - CRM 2010
Udaan E-commerce 2016
OYO Travel Tech, Hospitality 2013
Paytm Mall E-commerce 2017
Swiggy Foodtech 2014
BYJU'S Edtech 2011
Policybazaar Insurance company 2008
Billdesk Fintech 2000
ReNew Power Renewable Energy 2011

OLA Transport Tech 2010
Zomato Foodtech 2008
Paytm E-commerce Finance 2010
Mu Sigma SaaS- Analytics 2004
Flipkart E-commerce 2007
InMobi Adtech 2007
MakeMyTrip Online Travel 2000
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Top Unicorn Startups in India as of 2022

1. InMobi
2. Flipkart
3. BharatPe
4. Dream11
5. PhonePe
6. BYJU'S
7. OLA
8. OYO Rooms
9. Swiggy
10. Zomato
11. Freshworks
12. Moglix
13. upGrad
14. MakeMyTrip
15. Nykaa
16. Policybazaar
17. CoinDCX
18. Pine Labs
19. Highradius
20. Zetwerk
21. BlackBuck
22. Droom
23. OfBusiness
24. ShareChat
25. Verse Innovation
26. PharmEasy
27. MyGlamm
28. CRED
29. Meesho
30. Urban Company
31. Infra.Market
32. Digit Insurance
33. Innovaccer
34. Five Star Business Finance
35. Groww
36. Gupshup
37. Eruditus
38. Chargebee
39. Zeta
40. BrowserStack
41. Paytm
42. Paytm Mall
43. Zerodha
44. ReNew Power
45. BigBasket
46. Udaan
47. Ola Electric
48. Mohalla Tech (Moj)
49. FirstCry
50. Lenskart
51. Blinkit (ex-Grofers)
52. Glance, Inmobi
53. Dailyhunt
54. Zenoti
55. Cars24
56. RazorPay
57. Unacademy
58. Postman
59. CitiusTech
60. Icertis
61. Druva
62. Rivigo
63. Matic Network / Polygon
64. MindTickle
65. Delhivery
66. Billdesk
67. Mu Sigma
68. Info Edge
69. MPL
70. Apna
71. Vedantu
72. Licious
73. CoinSwitch Kuber
74. Rebel Foods
75. CarDekho
76. MobiKwik
77. Acko
78. CureFit
79. Mensa
80. NoBroker
81. Spinny
82. Upstox
83. Slice
84. Pristyn Care
85. GlobalBees
86. Mamaearth
87. Fractal Analytics
88. LEAD School
89. Darwinbox
90. DealShare
91. ElasticRun
92. Livspace
93. Xpressbees
94. Uniphore
95. Hasura
96. CredAvenue
97. Amagi
98. CommerceIQ
99. Oxyzo
100. Games 24x7
101. Open
102. PhysicsWallah
103. Purplle
104. LeadSquared
105. OneCard
106. 5ire
107. Shiprocket
108. Tata 1mg
109. Molbio Diagnostics
110. Zepto
Former Indian Unicorn Companies

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Why are there SO MANY UNICORN Startups in India?
Why Are There So Many Unicorn Startups in India?
InMobi
Startup Name InMobi
adquarters Bangalore, Karnataka, India
dustry Advertising, Digital Media
unders Abhay Singhal, Amit Gupta, Mohit Saxena, Naveen Tewari, Piyush Shah
unded 2007
estors Lightbox, Softbank Group, Kleiner Perkins
oducts and Services InMobi Pulse, Mobile Marketing
luation $12 billion (April 2021)
InMobi is a Bengaluru-based mobile advertising platform that helps in optimizing the ranks
of the advertisements offered on mobile phones. InMobi was founded in January 2007 and
has been the first unicorn startup of India and thus, a torchbearer of the unicorn league of
Indian startups that followed. Glance, a subsidiary company of InMobi, has also turned a
unicorn in 2020.
Flipkart
Startup Name Flipkart
Headquarters Bengaluru, Karnataka, India
Industry Ecommerce, Marketplace
Founders Binny Bansal, Sachin Bansal
Founded 2007
Investors Walmart, Tencent, Softbank and more
Products and Services Ecommerce marketplace that offers over 150 million products
Valuation $37.6 billion (July 2021)

Being the most favored eCommerce marketplace in India, Flipkart needs no introduction
simply because the Big Billion Days are one of the most sought-after online events that
millions of Indians look up to. Flipkart was among the first Indian unicorns that achieved
the unicorn valuation during the 2011-2012 era after inMobi, which was the first Indian
unicorn. With over 350 million users, and 150+ million products, which are distributed
across 80+ categories Flipkart is a household for the Indian masses. This ecommerce
giant was acquired by Walmart in 2018 for a whopping $16 billion, which helped it scale
fast and easily. The Sachin Bansal and Binny Bansal-founded company currently boasts of
a valuation of over $37.6 billion and is the highest-valued Indian company, as of 2023.
BharatPe
Startup Name Bharatpe
Headquarters New Delhi, India
Industry Payments platform, Fintech, Financial Services
Founders Ashneer Grover, Bhavik Koladiya, Shashvat Nakrani
Founded 2018
Investors Steadfast Capital, Coatue, Dragoneer, Sequoia
Products and Services Payments App
Valuation $2.85 billion (February 2022)
BharatPe is an Indian digital payments app, merchant aggregator, and payments platform
that encourages digital payments via QR and POS. It is not a government company but a
private limited company that goes by the name, Resilient Innovations Private Limited.
Headquartered in New Delhi, India, the company tripled its valuation to $2.85 billion and
joined the unicorn club on August 4, 2021.
BharatPe Co-founder Ashneer Grover was recently engaged in a telephone controversy

where he allegedly abused a Kotak employee. Grover was also infamously featured on
various social media and news platforms several times due to his rash behaviour and his
blunt remarks where he also said "naukri dhoond" to one of his fellow pitchers.
Furthermore, he is also associated lately with a financial fraud concerning BharatPe along
with his wife Madhuri and five others, the investigation of which is continuing, as per
reports dated January 29, 2022. Ashneer is currently observing a mandatory leave of
absence, as mentioned last by the company and its Board. Grover might not see his place
back and is likely to get fired, mentioned sources close to the matter.
Dream11
Startup Name Dream11
Headquarters Mumbai, Maharashtra, India
Industry Fantasy Sports, IT
Founders Bhavit Sheth, Harsh Jain
Founded 2008
Investors Steadview Capital, Tencent, Tiger Global Management, Falcon Edge
Products and Services Dream11 sports platform
Valuation $8 billion (November 2021)
Dream11 is an Indian fantasy sports platform, which brings a host of sports including but
not limited to cricket, football, hockey, volleyball, handball, futsal, and rugby, for the Indian
sports fanatics to delve into their favourite games. A homegrown sports platform, Dream
11, aims to help Indian sports enthusiasts to expand and showcase the sports knowledge
they boast of!
Earlier in April 2019, Dream11 raised funding worth $60 million from Steadview Capital and
others and joined the unicorn league of Indian startups. The last valuation of Dream11 was
recorded at $8 billion, after the company completed an investment of $840 million in
November 2021.
PhonePe
Startup Name PhonePe
Headquarters Andheri, Maharashtra, India
Industry Fintech, Mobile Payments
Founders Burzin Engineer, Rahul Chari, Sameer Nigam
Founded 2015
Investors Flipkart, Walmart
Products and Services Phonepe payments app
Valuation $5.5 billion (December 2020)
PhonePe is a digital payment and merchant aggregator platform that has already had a
huge contribution to making digital payments smooth, fast, and easy for Indian customers
and merchants. Founded in 2015 and headquartered in Andheri, Maharashtra, India, the
company boasts of having the largest market share among the UPI apps. The company
showed a huge potential for growth and has already achieved unicorn status before 2020.
The company was acquired by Flipkart in April 2016 and has witnessed a considerable
amount of growth since then. The PhonePe Business Model and "how PhonePe earns
money?" is pretty interesting too.
BYJU'S
Startup Name BYJUS
Headquarters Bangalore, Karnataka, India
Industry Edtech, Distance education, M-learning
Founder Byju Raveendran & Divya Gokulnath

Startup Name BYJUS
Founded 2011
Investors Aarin Capital, BOND
Products and Services BYJU’S - The Learning App
Valuation $16.5 Billion (July 2021)
Byju’s is a Bangalore-based edtech platform. It is an online tutoring and coaching firm that
started in 2011 and runs on a freemium model. Launched by Byju Raveendran, Byju's is
used by more than 15 million students all over the world and has over 900,000 paid
subscribers. Byju's Current valuation has reached 16.5 Billion USD. Know in detail about
BYJU's business and revenue model.
OLA
Startup Name Ola
Headquarters Bangalore, India
Industry Transportation
Founder Bhavish Aggarwal & Ankit Bhati
Founded 3 December 2010
Investors SoftBank Group, Tiger Global, Tencent, Matrix Partners, and DST Glo
Products and Services Mobile app, website, Vehicle for hire, Goods and food delivery, Mobi
Valuation $6.5 billion (FY20)
Ola is an Indian ride-sharing company that was launched on 3rd December 2010. As of
2019, Ola has expanded to over 1.5 million drivers across 250 cities. Ola has also
expanded its network into its first overseas market, Australia, and New Zealand in
September 2018. Ola began its operations in the UK introducing auto rickshaws.
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bookings to ching 1 lakh in j st 2 da s Learn e er thing abo t the
StartupTalky • • Anik Banerjee
OYO Rooms
Startup Name OYO Ro
Headquarters Gurgaon, Haryana, India
Industry Hospitality
Founder Ritesh Agarwal
Founded 2013
Startup Name OYO Ro
Investors SoftBank Group, Didi Chuxing, Greenoaks Capital, Sequoia India, Lig
Products and Services OYO Rooms, OYO Hotels & Homes
Valuation $9 billion (July 2021)
OYO is among the top travel startups in India. Founded by 21-year-old Ritesh Agarwal in
2013, India’s largest hospitality startup comprises budget hotels. The startup works in
liaison with existing hotels and offers travellers vacant rooms at a cheaper price. OYO
rooms start at a nominal price of Rs 999. Besides bulk renting hotels, they have also
invested in their own properties as well.
Swiggy
Startup Name Swiggy
Industry Retail
Founder Nandan Reddy, Sriharsha Majety, and Rahul Jaimini
Founded 2014
Investors Norwest Venture Partners, Naspers, Accel, SAIF Partners, Meituan-D
Products and Services Food delivery
Swiggy is one of the most valuable online food ordering and delivery platforms. Swiggy
was founded by Nandan Reddy, Sriharsha Majety, and Rahul Jaimini in 2014. In early 2019,
Swiggy expanded into general product deliveries, under the brand name Swiggy Stores.
Swiggy today has more than 5,000,000 mobile application installations.
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start p stri eshard to be s ccessf l and reach the top b t onl a fe
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Zomato
Startup Name Zomato
Industry Online food ordering and Retail
Founder Deepinder Goyal, Pankaj Chaddah
Founded 2008
Investors Info Edge, Sequoia Capital, Vy Capital, Ant Financial, Baillie Gifford
Products and Services Restaurant Search & Discovery, Online Ordering, Table Reservations
Startup Name Zomato
Zomato is an Indian food delivery startup restaurant aggregator. Zomato was founded by
Deepinder Goyal and Pankaj Chaddah in 2008. Zomato primarily provides concrete
information, menus, and user reviews of the restaurants. Along with this, Zomato also has
food delivery options from partnered restaurants in the selected cities. The pandemic was
dangerous indeed for everyone, and it is almost as dangerous to the food tech companies
as it is for every other individual and business, if not more. The food delivery unicorn,
Zomato also fought the pandemic hard and thrived.
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StartupTalky • • Devashish Shrivasta…

Freshworks
Startup Name Freshworks
Headquarters San Mateo, California, United States
Industry IT, CRM, Saas
Founders Girish Mathrubootham, Shan Krishnasamy, Vijay Shankar
Founded 2010
Investors Accel, Steadview Capital, Sequoia Capital, Tiger Global Managemen
Products and Services CRM software, Software suite
Valuation $3.5 billion (August 2021)
Freshworks offers innovative customer engagement software for a diverse range of

businesses of varying sizes and kinds. Founded in 2010 in Chennai, the company now has
its headquarters in San Mateo, USA, the products which help provide a 360-degree view of
the customers. The Saas products brought in by FreshWorks are designed to be used
instantly. Besides, they are easy to use, and also oﬀer quick returns on investments.
Freshworks attained the prestigious unicorn club of the Indian companies in July 2018,
thereby becoming the first unicorn startup belonging to the Saas market that the country
has seen. Now, increasing the customer engagement and the retention rate for Saas
companies is not as difficult as it was earlier
Moglix
Startup Name Moglix
Headquarter India
Startup Name Moglix
Industry Internet
Founder Rahul Garg
Founded 2015
Investors Tiger Global Management, Composite Capital Management, Sequoi
Products and Services B2B Trade Platform, e-commerce, Mobile, Supply Chain Network
Valuation $2.6 Billion (January 2022)
Moglix is an Asia-based B2B E-commerce company that was founded by Rahul Garg in
2017. The company has its headquarters in Singapore and head offices in India. The
startup ambitions to digitally change the chain of manufacturing areas in India. Moglix
wants to digitize and seriously change every component of the delivery chain, and B2B
commerce which is unorganized and increases options to seriously change the grant chain
via technology.
Moglix, presently serves the manufacturing sector, institutional clients (B2B), and private
clients (B2C). The automotive sector, metals and mining, and FMCDs are the best three
sectors they cater to. The platform provides Industrial products and services such
industrial products and services such as Safety equipment, Electrical and Lighting
products, Cleaning and Laundry products, Office Supplies, and Industrial Tools, among
others. Moglix is one of the most trusted eCommerce sites for industries as it is known to
deliver world-class services worldwide. So far the company has 150,000 industry essential
products from 30 different categories and 25,000 SME clients.
upGrad
Startup Name upGrad
Industry Edtech, E-learning

Startup Name upGrad
Founder Mayank Kumar, Phalgun Kompalli, Ravijot Chugh, Ronnie Screwvala
Founded 2015
Investors IIFL, Temasek Holdings
Products and Services Learning courses and materials
Valuation $1.2 bn (August 2021)
upGrad is an online coaching program for all students opting for higher education.
Partnering with some of the top universities of the world, upGrad brings a wide range of
industry-ready courses including Bachelor's degrees, MBA, Data Science, Machine Learning
courses, and more. The company has grown to attain unicorn status on August 6, 2021,
with the help of a $185 million fundraising.
MakeMyTrip
Startup Name MakeMyTrip
Industry Online travel
Founder Deep Kalra
Founded 2000
Investors Prosus & Nasper, Sierra Ventures, Helion Venture Partners, Helion Ve
Products and Services Booking tickets for shows, movies, flights, hotels, holidays, buses, tr
MakeMyTrip is one of the top online travel companies in India that was founded by Deep
Kalra in 2000. The company has its headquarters based in Gurgaon and is known for its
services such as booking holiday packages, hotel reservations, movies or even booking
tickets for everyday traveling through fights, buses, trains, cars, etc. MakeMyTrip is
currently operating in 14+ cities around the world with over 30 franchise stores and in 28
cities in India alone. The MakeMyTrip route planner feature allows its user to access basic
information on over one million routes across India.
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Nykaa
Startup Name Nykaa
Industry E-commerce
Founder Falguni Nayar
Founded 2012
Startup Name Nykaa
Investors Steadview Capital, Fidelity, TPG Growth, Hero Corporate Service Priv
Products and Services Cosmetics, skin & wellness products, etc.
Valuation $2.3 billion (June 2021)
Nykaa is a leading cosmetic-based eCommerce platform that was founded in 2012 by

Falguni Nayar. Nykaa has its headquarters based in Mumbai, Maharashtra, and is known
for its app and website that sells a wide range of cosmetics, skin, and wellness products.
The company also has over 26 offline stores across India and became a Unicorn startup in
2020. The platform has a huge range of 200,000 products from 2000 national and
international brands, as of 2020. Many Bollywood actresses like Alia Bhatt and Katrina Kaif
have been the brand ambassadors of Nykaa.
Policybazaar
Startup Name Policy Bazaa
Industry Insurance Company
Founder Yashish Dahiya, Alok Bansal and Avaneesh Nirjar
Founded 2008
Investors Intel Capital, Wellington Management Group, Inventus Capital Partne
Products and Services Life, Health, Motor, travel insurance, etc
Policybazaar is one of the most well-known and trusted insurance companies in India. The
company was started in 2008 by Yashish Dahiya, Alok Bansal, and Avaneesh Nirjar. The
company initially started out as an insurance comparison website, but later on started
providing different types of insurance plans like Life insurance, Health, Motor, and even
Travel. Policybazaar.com is currently the largest insurance company in the country and is
also popular in UAE. Policybazaar has both a website and an app, which allows its users to
compare financial services from the top insurance options. Here's knowing how Policy
Bazaar witnessed an overwhelming growth via its marketing strategies.
CoinDCX
Startup Name CoinDCX
Industry Cryptocurrency, Blockchain, Fintech
Founder Neeraj Khandelwal, Sumit Gupta
Founded 2018
Investors B Capital Group, Polychain
Products and Services Cryptocurrency buying, selling and exchange services
Valuation $2+ billion (April 2022)
CoinDCX is an Indian cryptocurrency exchange aggregator based in Mumbai. The company

specializes in crypto-enabled financial services. CoinDCX aims to develop financial
services without any borders to enable a simpler and seamless flow of capital powered by
impregnable security. CoinDCX raised $90 mn in Series C funding to emerge as a unicorn.
Thus, the company became India’s first cryptocurrency unicorn.
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Pine Labs
Startup Name Pine Labs
Headquarters Noida, Uttar Pradesh, India
Industry Fintech, Financial Services, Payments
Founders Rajul Garg, Tarun Upaday
Founded 1998
Investors Mastercard, Lone Pine Capital, Flipkart, Temasek, Sequoia
Products and Services POS devices and software solutions
Valuation $5+ billion (Marh 2022)
Pine Labs is an Indian merchant platform, equipped with financing and last-mile retail
transaction technology, which helps merchants and institutions receive their payments via
easy and secure POS apps and devices. Pine Labs collaborated with the New-York based
financial services giant, Mastercard in January 2020, and shortly after it attained unicorn
status. It was the first company to have turned unicorn in 2020.
Highradius
Startup Name Highradius
Industry Fintech, AI, Saas, Software
Founder Sashi Narahari
Founded 2006
Investors Tiger Global, D1 Capital Partners, ICONIQ and more
Products and Services AI-based order-to-cash and treasury management software
Valuation $3.1+ billion (March 2021)
Highradius is an AI-powered, data-driven fintech enterprise software as a service (Saas)

platform that extends autonomous software for smooth and easy management of order to
cash (O2C), treasury, and record to report (R2R). Headquartered in Houston, Texas, US,
Highradius claims to be the world's number 1 data-driven AI software platform that helps
"lower DSO, optimize working capital, fast-track financial close, and improve productivity."
Raising $125 mn right at the start of 2020, Highradius turned into India's first unicorn
company in 2020 in a Series B funding round led by ICONIQ Capital, along with some of its
existing investors like Susquehanna Growth Equity and Citi Ventures.
Zetwerk
Startup Name Zetwerk
Industry B2B, Marketplace, Consumer goods
Founders Amrit Acharya, Rahul Sharma, Srinath Ramakkrushnan, Vishal Chaud

Startup Name Zetwerk
Founded 2018
Investors IIFL, Accel, Sequoia Capital
Products and Services Manufacturing and supply chain systems
Valuation $1.33+ bn (December 2021)
Zetwerk emerges as a B2B marketplace for manufacturing items. The online marketplace
based out of Bengaluru connects large manufacturing companies with vendors and
suppliers, who help them get various components of industrial tools and machinery that
they require from time to time. The company joined the unicorn club on August 20, 2021,
and became India’s youngest billion-dollar company.
BlackBuck
Startup Name BlackBuck
Industry Logistics, Transportation
Founders Chanakya Hridaya, Rajesh Yabaji, Ramasubramaniam B
Founded 2015
Investors Trifecta Capital Advisors, Sequoia, Accel, InnoVen Capital
Products and Services Trucks, logistics and transportation services for shippers and fleet o
BlackBuck is a truck aggregator and one of the largest truck aggregators operating in India
that aims to solve the transportation and logistics problems of countless Indians. Today,
BlackBuck boasts of being the largest trucking network in India that is equipped with
freight and fleet management technology platforms. Blackbuck entered the unicorn club on
July 23, 2021, after it raised $67 mn as part of its Series E funding round at a valuation of
$1.02 bn.
The company currently has a collection of 12,00,000+ trucks and extends its services to
over 2000 locations with 15,000+ happy clients.
Droom
Startup Name Droom
Headquarters Haryana, India
Industry Automotives, B2B, Marketplace
Founder Sandeep Aggarwal
Founded 2014
Investors Lightbox, Toyota Tsusho, SevenTrain Ventures, Integrated Capital
Products and Services Marketplace for used cars, bikes, scooters and other merchandise
Valuation $1.2 billion(August 2021)
Droom is a marketplace for used cars, bikes, scooters, and other automotive, along with
other products and merchandise. Powered by cutting-edge data science technology, the
company helps its customers to buy and sell automobiles and other products seamlessly.
Droom has around 600K automobiles and dominates with a massive 80% market share of
the automobile transactions online, Droom is India’s largest automobile platform online and
is counted among the biggest E-Commerce companies in the country.
31 Automobile Business Ideas and Car-related Business Ideas
Have a look at these 31 Automobile and Car-related business ideas

t t t i 2022 F A t bil F hi Li S i t F d
StartupTalky • • Rishita Jain
OfBusiness
Startup Name OfBusiness
Industry Building Materials, FinTech
Founders Asish Mohapatra, Bhuvan Gupta, Chandranshu Sinha, Nitin Jain, Ruc
Founded 2015
Investors Falcon Edge Capital, Softbank, Matrix Partners
Products and Services Raw materials for SMEs
Valuation $5+ billion (December 2021)
OfBusiness or OFB Tech, as it is often referred to, is a raw material procurement and credit
platform for SMEs. The company focuses primarily on the manufacturing and construction
industries. OfBusiness leverages state-of-the-art technology to integrate the same into the
buying behaviors of the SMEs. This way it makes better products available at better prices
and in the right timelines.
ShareChat
Startup Name ShareChat
Headquarter Bangalore, India
Industry Internet, Mobile Apps, Social Media, Social Network
Founder Ankush Sachdeva, Bhanu Pratap Singh, and Faris Ahsan
Founded 2015
Investors Lightspeed Venture Partners, Tiger Global Management, Twitter Ven
Products and Services Social Networking and Regional Contents
Valuation $3.7 Billion (December 2021)
ShareChat is an Indian video-sharing social networking service, developed via Mohalla

Tech Private Limited in the year 2015, established by Ankush Sachdeva, Bhanu Pratap
Singh, and Farid Ahsan. The company is headquartered in Bengaluru, Karnataka.
ShareChat App acts as a content consumption and sharing platform solely in Indian
vernacular languages, which caters to over 1.17 billion wifi customers of India. The
company offers features such as messaging, sharing different kinds of media, tagging, etc.
ShareChat enabled user-generated content creation on its platform, permitting customers
to share their very own posters and innovative content. The company also has 400 plus
employees and more than 50 million creator communities. The company went on to raise
$500 mn from investors, which increased its valuation to $3 billion.
Verse Innovation
Startup Name VerSe Innovation
Industry Content, Technology, Social Media, Internet
Founders Umang Bedi, Virendra Gupta
Founded 2007
Investors Google, Sequoia Capital, Microsoft, ByteDance, B Capital and more
Products and Services Powers Josh, Dailyhunt with technological support and expertise
Valuation $5 billion (April 2021)
VerSe Innovation is the parent company of the leading vernacular news aggregating
platform, Dailyhunt. Headquartered in Bengaluru, Verse Innovation is a local language
technology platform that is currently powering two of the leading names among the Indian
applications - Josh and Dailyhunt and boasts of an amazing reach of over 300 million
users.
VerSe Innovation has raised funds close to $100 mn in December 2020 from a clutch of
investors including Google, Microsoft, Falcon Edge’s Alpha Wave Incubation, Sequoia
Capital India, Sofina Group, and others to enter the coveted club of unicorn companies in
India. With this, Verse became the 10th Indian startup to attain the unicorn valuation in
2020.
PharmEasy
Startup Name PharmEasy
Industry Healthcare and Online Pharmacy
Founder Mikhil Innani, Dharmil Sheth and Dhaval Shah
Founded 2015
Investors B Capital, Prosus, Temasek, Think Investments, Tiger Global, A Velum
Products and Services Online pharmacy services, medicines, healthcare products, diagnost
Startup Name PharmEasy
Valuation $5.6 billion (JuOctoberne 2021)
PharmEasy is an online healthcare delivery platform that was founded by Mikhil Innani,
Dharmil Sheth, and Dhaval Shah in 2015. The company has its headquarters in Mumbai
Maharashtra and is currently the leading online healthcare aggregator in India. Besides
selling medicines online, the platform also helps connect patients with the closest local
pharmacy and diagnostic center based on their medical needs. It delivers medicines in
over 1000 plus cities and across 22,000 pin codes. PharmEasy claims to have delivered
more than 1.5 crore orders and has over one lakh medicines available on its website.
MyGlamm (The Good Glamm Group)
Startup Name MyGlamm
Industry Cosmetics, Beauty, Marketplace
Founder Darpan Sanghvi, Priyanka Gill
Founded 2015
Investors Prosus, Warburg, Trifecta, Amazon and more
Products and Services Beauty and cosmetics products marketplace
Valuation $1.2+ billion (November 2021)
MyGlamm is a direct-to-consumer (D2C) beauty and cosmetics startup that extends an e-

commerce marketplace with a wide range of products for stylists, beauticians, and others.
The Mumbai-based D2C brand combines technology with content and social media in
order to help the customers to shop for their preferred products along with gaining rich,
personalized content and tutorial from the experts.
MyGlamm has turned into a unicorn company when it raised $150 mn in funding from
Prosus Ventures and others on November 9, 2021. MyGlamm was the 34th Indian startup
to turn a unicorn in the year 2021 and the 76th Indian company overall to enter the coveted
club of unicorn companies of India.
CRED
Startup Name CRED
Industry Financial Technology
Founder Kunal Shah
Founded 2018
Investors Falcon Edge Capital, Coatue Mnagement LLP, Insight Partners, Tiger
Products and Services Rentpay, CRED Stash, Store, Credit Card Payments and Cred Pay
Valuation $2.2 billion (April 2021)
CRED is an upcoming Fintech startup that was started by Kunal Shah in 2018. The
company has its headquarters in Bengaluru, Karnataka, and is known for its app that
allows users to make credit card payments and even get rewarded. Besides rewards, CRED
also gives its customers access to a wide range of additional services such as credit and a
premium catalog of products from top brands. So far the platform has over 5.9 million
users and has processed about 20% of all credit card bill payments in the country. CRED
services are divided into five major products which are CRED RentPay, CRED Cash, CRED
Pay, CRED Store, and CRED Travel Store. The Cred Business and Revenue Model depends
on the app, its customers, and the business partnerships it sees.
Meesho
Startup Name Meesho
Industry E-commerce
Founder Vidit Aatrey and Sanjeev Barnwal

Startup Name Meesho
Founded 2015
Investors Softbank, Facebook, Prosus Ventures, Shunwei Capital, venture high
Products and Services Clothes, cosmetics, household items, etc
Valuation $4.9 billion (September 2021)
Meesho is a popular Indian social ecommerce company that was founded in 2015 by
batchmates, Vidit Aatrey and Sanjeev Barnwal. The company has its headquarters in
Bengaluru Karnataka. Meesho helps small and medium businesses or even individuals to
start their online stores through social media apps like Facebook, Instagram, and
Whatsapp. Meesho also has an online reselling website and app that allows people to sell
their products without investments. So far it is known to have 2.6 million resellers across
the country.
Meesho became a unicorn on April 6, 2021, after raising $300 mn in funds in a funding
round that was led by Japan's Softbank Corp. Group. Know more about Meesho Business
Model & Revenue Model.
Urban Company
Startup Name Urban Company
Industry Home Services
Founder Abhiraj Bhal, Varun Khaitan and Raghav Chandra
Founded 2014
Investors Prosus Ventures, Dragoneer, Wellington Management, Vy Capital, Tig
Products and Services professionals for cleaning, beauticians, masseurs, carpenters, etc
Valuation $2.8 billion (June 2021)

Urban Company is said to be Asia’s largest home services company as it is an all-in-one
platform that helps users find professionals for different home services. The platform has
its headquarters in Gurgaon and offers professional home cleaning services to beauticians,
masseurs, and even carpenters. Urban Company was founded in 2014 by Abhiraj Bhal,
Varun Khaitan, and Raghav Chandra, while the platform currently has served over 5 million
customers across India, Dubai, Abu Dhabi, Sydney, and Singapore. As of 2021, it is also
known to be the UAE's largest home services company. Here's knowing all about Urban
Company's business model, and the marketing strategies that Urban Company uses.
Infra.Market
Startup Name Infra.Market
Industry Building material
Founder Souvik Sengupta
Founded 2016
Investors Nexus Venture Partners, Foundamental, Tiger Global, Accel Partner
Products and Services Construction Materials, Infrastructure, and Heavy Equipment Rental
Infra.Market is one of the best construction solutions companies and an online

procurement marketplace that uses technology to provide an enhanced procurement
experience. The company provides its services to the real estate and construction
materials industry. The company was started by Souvik Sengupta in 2016 and has its
headquarters in Thane, Maharashtra. Infra.Market specializes in manufacturing
construction materials, infrastructure, and heavy equipment rental for all the sectors of a
construction ecosystem. It caters to both institutional customers and the construction
materials sector to build their projects. Infra.Market turned unicorn with a $100 mn funding
on February 25, 2021
Digit Insurance
Startup Name Digit Insurance
Industry Insurance
Founder Kamesh Goyal
Founded 2017
Investors Sequoia Capital, IIFL Alternate Asset Managers, Fearing Capital, TVS
Products and Services Insurance for Car, Health, employee, 2 Wheeler, 3 Wheeler, etc.
Valuation $4 billion (May 2022)
Digit Insurance is one of the top general insurance companies offering health, car, bike, and
travel insurance. The company was founded in 2016 by Kamesh Goyal, and has its
headquarters in Bengaluru, Karnataka. The company is popular for Go Digit Mobile
Insurance, a tailor-made mobile insurance that covers damages related to different mobiles
or Smartphones such as accidental damage, etc. Digit Insurance was the first Indian
Unicorn of 2021 and has been successful in achieving the feat in less than 4 years.
Besides, Digit Insurance is one of the companies that are endorsed by Virat Kohli, who is
the brand ambassador of Digit.
Innovaccer
Startup Name Innovaccer
Industry Healthcare
Founders Abhinav Shashank, Kanav Hasija and Sandeep Gupta
Founded 2014
Investors Steadview Capital, Dragoneer, B Capital Group, Mubadala Capital Mi

Startup Name Innovaccer
Products and Services Clinical Integration, Health Management, Big data analytics, Quality
Valuation $1.3 billion (February 2021)
Innovaccer is one of the top healthcare companies that is known for its top-notch
healthcare services and products that are done through pioneering analytics and accurate
data. Innovaccer was founded in 2014 by Sandeep Gupta and has its headquarters in San
Francisco. It has head offices in India and America. Innovaccer products are available in
over 500 locations and it also has more than 10,000 providers. The company has helped
thousands of institutions, governmental organizations, hospitals, clinics, and healthcare
organizations such as Mercy ACO, StratiFi Health, Catalyst Health Network, and Osler
Health Network.
Innovaccer has turned into a unicorn after it received $105 mn of funding from Tiger Global
Management on February 24, 2021. With this, Innovaccer also became the first health tech
unicorn in India to turn unicorn.
Market Growth Of Online Doctor Consultation During Lockdown

Are you looking for Online Doctor Consultation? Consultation is
il bl t fi ti Th k t th h i d idl
StartupTalky • • PV Vyshnavi
Five Star Business Finance
Startup Name Five Star Business Finance
Industry Financial Services
Founder V.K Ranganathan
Founded 1984
Investors Sequoia Capital India, Norwest Venture Partners, KKR, TVS Capital, M
Products and Services Small Business Loans, Mortgage Loans, Home Loans, Property Loan
Valuation $1.4 billion (March 2021)
Five Star Business Finance (FSBF) is one of the oldest Indian investment firms that was
started by V.K Ranganathan in 1984. The company provides different kinds of loans like
Small Business Loans, Mortgage Loans, Home Loans, Property Loans, among others. The
company has been making strides in the financial industry over the last three decades. Five
Star Housing Finance Private Limited which is the company’s subsidiary is designed to help
its clients with small housing loans.
Groww
Startup Name Groww

Startup Name Groww
Founder Lalit Keshre, Harsh Jain, Ishan Bansal, and Neeraj Singh
Founded 2017
Investors Sequoia Capital, Ribbit Capital, YC Continuity, Kauffman Fellows, Ins
Products and Services Stock broking services, direct mutual funds, IPO, ETF, digital gold
Valuation $1 billion (May 2021)
Groww is one of the most popular online investment platforms in India. The company was
started in 2017 by Lalit Keshre, Harsh Jain, Ishan Bansal, and Neeraj Singh. The company
has its headquarters in Bengaluru, Karnataka, and has so far raised over $14 million as of
April 2021. This mutual fund investments platform started out by offering wealth
management and currently offers direct investments in mutual funds, stocks, digital gold,
and exchange-traded funds, among others. The parent company of Groww is Nextbillion
Technology.
Gupshup
Startup Name Gupshup
Industry Software
Founder Beerud Sheth
Founded 2004
Investors Tiger Global Management Llc, Think Investments, Malabar Investme
Products and Services Chatbots
Gupshup is an upcoming Software company that provides services such as SMS, email,
voice, and IP messaging. Gupshup company operates in India, America and UK and is
known for its chatbox development services to retail and eCommerce companies. The
company developed a smart messaging app called Teamchat and handles over 6 million
messages every month. Gupshup is one of the first companies to launch the chatbot
building platforms known as gupshup.io which currently offers its services to over 30,000
developers. The platform also has 30,000 chatbots across 22 different social media
channels.
Eruditus
Startup Name Eruditus
Industry Edtech, Education
Founder Ashwin Damera, Chaitanya Kalipatnapu
Founded 2010
Investors Accel, Softbank Vision Fund, Prosus Ventures
Products and Services Education, E-learning
Valuation $2.5 billion
Eruditus is an Edtech platform headquartered in Mumbai. Founded in 2010, the company

collaborates with the leading universities from across the globe in order to make executive
education accessible globally. Eruditus Executive Education boasts of partnering with over
30 universities with a collection of more than 100 courses that extends to the students of
around 80 countries. The company has recently turned into a unicorn with a $650 million
fundraise as part of its series E funding round!
Chargebee
Startup Name Chargebee
Industry Financial services
Founder Krish Subramanian

Startup Name Chargebee
Founded 2011
Investors Sapphire Ventures, Tiger Global, Insight Venture Partners
Products and Services invoicing, taxes, SaaS metrics, accounting and customer manageme
Chargebee is a SaaS Company with its headquarters in San Francisco, California. The
company specializes in providing subscription and recurring billing based SaaS and E-
commerce services like invoicing, taxes, SaaS metrics, accounting and customer
management. The company also supports over 100 currencies and numerous well-known
payment gateways such as Stripe, Braintree, WorldPay and PayPal. The SaaS startup has
gathered 3,000 customers most of whom are from America, Europe, and India.
Zeta
Startup Name Zeta
Founder Bhavin Turakhia and Ramki Gaddipati
Founded 2015
Investors SoftBank, Avendus Capital, Sodexo, Directi .
Products and Services cloud-native, API-first neo-banking and other Fintech services.
Valuation $1.45 billion (May 2021)
Zeta is a financial technology company that provides a full-stack, cloud and API first neo
banking services. The fintech company was founded in 2015 by Bhavin Turakhia and Ramki
Gaddipati with its headquarters based in Los Angeles, California, and has head offices in
India. It is known for its Omni stack that includes modern credit and debit processing,
BNPL, banking, and mobile experiences. The company products are used by banks like
RBL Bank, IDFC First Bank, and Kotak Mahindra Bank, along with 14000 corporates. So far
Zeta has over 2 million users with over one million transactions per day.
Zeta is a budgeting app for couples. It integrates personal and shared accounts, which
include bank accounts, loans, and credit cards. Connect your account immediately for
automated updates or manually add an account to manage it yourself.
You can see your joint incomes, expenses, and financial savings in one place. It lets you
create more than one budget for private and shared expenses. Plus, you can set precise
monetary goals for you and your partner, such as saving for a holiday or placing up an
emergency fund.
BrowserStack
Startup Name BrowserStack
Headquarters Mumbai, India
Industry Cloud Infrastructure and Software
Founder Ritesh Arora & Nakul Aggarwal
Founded 2011
Investors Insight Partners, Accel and Bond
Products and Services Cloud Web and Software Testing
Valuation $4 Billion (June 2021)
BrowserStack is a cloud net and mobile testing platform, which is used by two million
developers in around a hundred thirty-five countries. The product's price proposition is to
assist groups to fasten up launch cycles and develop websites and mobile app that work
seamlessly on any user interface. The aim is to limit the time, price, and protection
overhead related to testing.
More than 25,000 world corporations use BrowserStack, which includes Microsoft, ING,
MasterCard, Dow Jones, Garmin, National Geographic, Volvo, NRK, HubSpot, Walt Disney,
and AngularJS. BrowserStack has offices work in San Francisco, Mumbai, Dublin, and is
privately held and backed by Accel.
List of Top Cloud Computing Startups in India and their growth
Cloud Computing has become the new norm, the trend has given
bi th t h b f t t th t l th l d Th
StartupTalky • • Vibhavari Madki
Paytm
Startup Name Pay

Startup Name Pay
Industry E-commerce Finance
Founder Vijay Shekhar Sharma
Founded August 2010
Investors Alibaba, Ant Group, AGH Holdings, SAIF Partners, T Rowe Price, Disc
Products and Services Paytm Mall, Paytm Payments Bank, Paytm Money, Gamepind, Paytm
Valuation $16 billion (June 2021)
Paytm is one of the biggest unicorn startups in India. It is among the largest digital
payment service providers in India with a market share of 11.63% and is currently in the
third position in the list of top UPI apps in India, as recorded in June 2021. The fintech
startup is famous for its payment gateway service, which helps consumers to make
seamless payments to the seller from their bank accounts. Paytm entered the unicorn club
in 2015. Paytm's valuation was over $7 billion, and it has now increased to $16 billion in
2020.
Paytm Mall
Startup Name Paytm Mall
Industry E-commerce Finance
Founder Vijay Shekhar Sharma
Founded 2017
Investors Alibaba, Elevation Capital, SoftBank, eBay
Products and Services Online Shopping

Paytm Mall is a B2C model inspired by China's largest B2C retail platform TMall. Paytm
Mall was launched by Paytm in 2017. Launched in 2016, as a hyperlocal offline-to-online
(O2O) business, Paytm Mall turned unicorn in 2018 on raising half a billion from Softbank
and others.
Zerodha
Startup Name Zerodha
Industry Stockbroker
Founder Nithin Kamath and Nikhil Kamath
Founded 2010
Investors Bootstrapped
Products and Services Kite, Coin, Console, Varsity, Equity Trading, Currencies and Commod
Zerodha is an Indian fintech startup that offers retail and institutional broking, currencies
and commodities trading, mutual funds, and bonds. The Company was founded in the year
2010 in order to achieve the goal of breaking all the barriers traders and investors face in
India. Zerodha is headquartered in Bangalore and has a physical presence in several major
Indian cities.
In Dec 2020, Zerodha was the largest retail stockbroker in India by active client base and
contributes upwards of 15% of daily retail volumes across Indian Stock Exchanges.
Zerodha entered the unicorn club in July 2020 with a self-assessed valuation of about $1
billion. This valuation was based on the ESOP buyback exercise the company undertook
valuing each share at more than four times the book value of ₹700 per share. Know why is
Zerodha not raising funds for its operation?
Disruptive pricing models and in-house technology have made Zerodha the biggest
stockbroker in India in terms of active retail clients. Over 5+ million clients place millions of
orders every day through our powerful ecosystem of investment platforms, contributing
over 15% of all Indian retail trading volumes.
ReNew Power
Startup Name ReNew Power
Industry Renewable energy
Founder Sumant Sinha
Founded 2011
Investors Sylebra Capital and Goldman Sachs
Products and Services Wind Power, Solar Power, Solar Rooftop Power
Valuation $8 billion (March 2021)
ReNew Power Limited is an Indian renewable energy company. It is an independent power

producer which was founded by Sumant Sinha in 2011. ReNew Power has a pipeline of
close to 1400 MW solar and wind projects. It has a current valuation of $8 billion, which
makes it one of the most valuable startups in India in 2021.
BigBasket
Startup Name BigBasket
Industry Retail
Founder Hari Menon, V.S. Sudhakar, Vipul Parekh, Abhinay Choudhari and V.S
Startup Name BigBasket
Founded 2011
Investors Alibaba, CDC Group, Ant Financial, Intel Capital, and Berkshire Hatha
Products and Services Grocery Delivery
BigBasket is India's largest online grocery store which was founded by Hari Menon, V.S.
Sudhakar, Vipul Parekh, Abhinay Choudhari, and V.S. Ramesh in 2011. BigBasket founder
Hari Menon is one of the most revered entrepreneurs, who deserves a place among the top
entrepreneurs of India. It has gained popularity among the Indians and receives over
100,000 orders per day. BigBasket has also launched 3 new businesses BB Daily, BB
Instant, and BB Beauty. Here's something that might interest you - JioMart VS BigBasket:
Top Contenders Of Online Grocery Market
Udaan
Startup Name Uda
Headquarters India
Industry E-commerce, Supply chain management, B2B
Founder Sujeet Kumar, Amod Malviya, and Vaibhav Gupta
Founded 2016
Investors Tencent Holdings, Altimeter Capital, Octahedron Capital, GGV Capita
Products and Services B2B trade platform
Valuation $3.1 billion (Jan 2021)
Udaan is a B2B e-commerce platform that provides a wholesale product solution to

different vendors in all categories. It was founded by Sujeet Kumar, Amod Malviya, and
Vaibhav Gupta in 2016. Udaan is a B2B (Business to Business) marketplace for trade that
is working for connecting retailers, wholesalers, traders, and manufacturers using
technology as the main tool. Udaan turned a startup unicorn in 2018, which is just after 2
years and 2 months since it was launched in 2016. It is thus, the first startup to be called
the fastest unicorn.
Ola Electric
Startup Name Ola Electric
Industry Automotive
Founder Ankit Jain and Anand Shah
Founded 2017
Investors SoftBank, Tiger Global, Ratan Tata, Hyundai Motors, Matrix Partners
Products and Services Electric two and tree wheeler vehicles
Valuation $5+ billion (January 2022)
Ola Electric is a brainchild of Ola which is currently one of the largest ride-hailing
companies. Ola Electric is a tech mobility startup that provides transit services. Besides
that, the company also offers a platform to work with driver-partners, vehicle
manufacturers, and battery companies and also advance into making future technology for
daily mobility. The company was founded in 2017 by Ankit Jain and Anand Shah and had
its headquarters in Bengaluru, Karnataka. Ola Electric is also known to be the fastest
unicorn after Udaan.
Top 7 Alternatives to Ola Electric Scooters in 2022
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k ti b i ith l ti hi l H lt ti
StartupTalky • • Anik Banerjee
Mohalla Tech (Moj)
Startup Name Mohalla Tech
Industry Software
Founder Ankush Sachdeva, Farid Ahsan and Bhanu Singh
Founded 2015
Investors Lightspeed Ventures, Tiger Global, Twitter, India Quotient,
Products and Services MOJ and Sharechat
Mohalla Tech is a software company that was founded by Ankush Sachdeva, Farid Ahsan
and Bhanu Singh in 2015. The company has its headquarters in Bengaluru, Karnataka, and
is known for its platforms - MOJ and Sharechat. Mohalla Tech designs and develops social
media platforms for sharing various quotes, videos, images, and news content. Currently,
Moj and Sharechat are known to have a combined user of 340 million. According to some
reports, an average user will spend over 34 minutes on the MOJ platform every day, which
also gets 4.5 million views every day.
FirstCry
Startup Name FirstCry
Industry E-commerce
Founder Supam Maheshwari, Amitava Saha, Prashant Jadhav, Sanket Hattim
Founded 2010
Investors TPG, Chrys Capital, Premji Invest, Elevation Capital, MegaDelta and V
Products and Services Baby and Kids Products
FirstCry is one of the top E-commerce companies for Baby and Child products. The
company was founded by Supam Maheshwari, Amitava Saha, Prashant Jadhav, and Sanket
Hattimattu in 2010, with its headquarters based in Pune, Maharashtra. Currently, the
company has 380 plus stores across the country and also has a hospital contact program
that helps in reaching out to more than 70,000 new parents every month. Firstcry has over
100,000 plus baby, kids, and new mom products from more than 1000 international and
national brands.
Lenskart
Startup Name Lenskart
Industry Eyewear
Founder Peyush Bansal, Amit Chaudhary, Sumeet Kapahi
Founded 2010
Startup Name Lenskart
Investors Temasek, Falcon Edge Capital, KKR, Bay Capital, and Chiratae
Products and Services Eyewear, opticians
Lenskart is a leading eyewear company that was started by Peyush Bansal, Amit
Chaudhary, Sumeet Kapahi in 2010. The company has its headquarters in Faridabad and
has manufacturing facilities in Delhi, Zhengzhou (China). The company is known to
manufacture over 300,000 eyewear every month, as it has more than 500 stores in over 70
cities across India. Besides having a huge range of eyewear it also offers its users branded
contact lenses and sunglasses.
And this is not the end of the story. There are many new entrants to this unicorn club.
Multiple startups strive hard to reach the top 10 unicorn startups but only a few make it to
the top. India is the third-largest startup ecosystem in the world. It can be said that India is
the future of great startups.
Blinkit (ex-Grofers)
Startup Name Blinkit (ex-Grofers)
Industry Ecommerce, Grocery, Delivery
Founders Albinder Dhindsa, Saurabh Kumar
Founded 2013
Investors Tiger Global Management, Softbank Vision Fund
Products and Services Grocery, body care and essentials delivery
Valuation $1 billion(June 30, 2021)

Grofers is an Indian online supermarket that helps in the home delivery of food, grocery
products, and essentials. Founded in 2013, Grofers started with groceries and gradually
expanded to a whole list of categories that includes beauty products, household care, baby
care, and more. The company is now a unicorn with a $120 million fundraising round from
the food aggregator, Zomato. Grofers was rebranded to Blinkit after a rebranding attempt
on December 13, 2021.
Glance, Inmobi
Startup Name Glance
Industry Mobile, Technology
Founder Naveen Tewari
Founded 2019
Investors Lightbox, Softbank Group, Kleiner Perkins
Products and Services Mobile lock screen content
Valuation $1 billion (December 2020)
A subsidiary company of inMobi, Glance is an artificial intelligence platform that offers

customized lock screen content to the owners of the smartphones of the present. The
company was founded in 2019 as a subsidiary of inMobi, a Bengaluru-based mobile ad
network, and turned unicorn on December 22, 2020. Its parent company had already
become a unicorn company back in 2011.
Dailyhunt
Startup Name Dailyhunt

Startup Name Dailyhunt
Industry Social News, IT, Language learning
Founders Umang Bedi, Umesh Kulkarni, Virendra Gupta
Founded 2007
Investors Google, Alphawave, Microsoft, Sequoia Capital, Falcon Capital
Products and Services Dailyhunt app
Dailyhunt is an Indian content and news aggregator services platform that helps its users
access updates on trending topics along with online news, books, and magazines. The
company is popular for offering content in 14 different local languages for a wide variety of
Indian readers. The company raised around $100 million from Google and Microsoft and
Falcon Edge’s Alpha Wave to become India’s first tech unicorn focused on vernacular
content on December 22, 2020.
Zenoti
Startup Name Zenoti
Headquarters Bellevue, Washington, United States
Industry CRM, Enterprise software
Founders Dheeraj Koneru, Saritha Katikaneni, Sudheer Koneru
Founded 2010
Investors Accel, Norwest Venture Partners, Steadview Capital, Tiger Global Ma
Products and Services Salon software, spa software, med spa software
Valuation $1.5+ billion
A cloud-based software platform for spa and salon services of the country, Zenoti was
founded in 2010 with its headquarters in Bellevue, Washington, United States, and
Hyderabad. Zenoti has been since the day it was founded and is now used by over 10,000
customers and has already established its presence in 50+ countries. With a fundraise that
amounted to $160 million, the company entered the unicorn club on December 15, 2020.
Cars24
Startup Name Cars24
Industry B2C, Ecommerce, AI
Founders Gajendra Jangid, Mehul Agrawal, Ruchit Agarwal, Vikram Chopra
Founded 2015
Investors DST Global, KCK Global, Sequoia Capital
Products and Services Cars24 website/app, cars buying and selling service
Cars24 is an online marketplace that encourages the buyers and sellers of used cars and
helps them to buy and sell automobiles online without any hassles. Via an AI-enabled
pricing algorithm, Cars24 displays the appraisal price along with the market price of the
vehicles. Furthermore, it also arranges appointments for vehicle inspection, thereby making
the selling process as transparent as possible.
The Gurgaon-based company, Cars24 was founded in 2015 and has already become a
unicorn on November 24, 2020, with the $200 million Series E funding round led by Yuri
Milner’s DST Global fund, Exor Seeds, Moore Strategic Ventures, and more. The company
was valued at over $1 billion when assessed in November 2020.
RazorPay
Startup Name RazorPay
Industry Fintech, Financial Services
Founder Harshil Mathur, Shashank Kumar
Founded 2014
Investors GIC, Sequoia Capital, Tiger Global Management
Products and Services Payment gateway services
RazorPay is a digital payment gateway that enables businesses and individuals to process,
receive and disburse payments smoothly and securely. Razorpay accepts a wide range of
the latest payment devices and platforms to improve the customer’s payment journeys
online.
RazorPay is among the last year unicorn companies in India, which joined the unicorn club
of Indian startups on October 11, 2020, when the company raised around $100 million.
The company was valued at around $3 billion in April 2021.
Comparison between Indian digital payments system
Instamojo and Razorpay
Reviews and features of digital payment apps founded in India,

I t j i i R i i i t ti d l ti f
StartupTalky • • Ansh Mehrey
Unacademy
Startup Name Unacademy
Industry Edtech, E-learning
Founders Gaurav Munjal, Hemesh Singh, Roman Saini, Sachin Gupta
Founded 2015
Investors Temasek Holdings, Dragoneer Investment Group, Softbank, Faceboo
Products and Services Courses and classes
Unacademy is an Indian unicorn Edtech company based in Bangalore, which climbed to

unicorn status on September 2, 2020, thereby becoming the second e-learning startup to
achieve the status.
Founded in 2015, Unacademy offers educational content for competitive examinations and
other video lectures, some of which are also freely accessible for students. With the latest
fundraise where the company received $440 million, Unacademy is now valued at $3.44
billion, as of August 2021. Here's a List of Startups Acquired by EdTech Giant Unacademy
Postman
Startup Name Postman
Headquarters San Francisco, California, United States
Industry Software, Developer Tools, Developer APIs,
Founders Abhijit Kane, Abhinav Asthana, Ankit Sobti
Founded 2014
Investors Insight Partners, CRV, Nexus Venture
Products and Services Postman app, Postman Workspace, Built-in tools
Postman raised $150 million in June 2020 to turn into a unicorn. The API development
environment is used by around 6 million developers worldwide across 200,000 companies
located globally. Postman serves as a platform that makes it easy for developers and
enterprises to build, test, and debug their APIs.
With a valuation of $5.6 billion, as per the reports in August 2021, after the company
received funding of around $225 million, Postman is presently acknowledged as the most
valued Saas startup in India.
CitiusTech
Startup Name CitiusTech
Headquarters Princeton, New Jersey, United States
Industry Healthcare Technology
Founders Jagdish Moorjani, Rizwan Koita

Startup Name CitiusTech
Founded 2005
Investors Baring Pvt. Equity Asia, Bain Capital
Products and Services Consulting, Digital & Product Engineering, Data & Analytics
Valuation $2.4 billion (May 2022)
CitiusTech is a major technology service and solution provider for the healthcare industry.
CitiusTech boasts of having over 4000 professionals worldwide. With its workforce, the
company aims to empower the healthcare and life sciences companies with reassuring
consultation and digital technology services and drive clinical value chain excellence
across integration and interoperability, data management, data science, performance
management, and more.
CitiusTech was acquired by Baring Private Equity Asia, after the Hong Kong-based
company signed a definitive agreement on July 12, 2019. This deal has valued the
company at a little over a billion dollars, thereby granting its entry into the unicorn club of
Indian companies.
As per the news dated May 5, 2022, Bain Capital has bought 40% of the stakes of
CitiusTech from Baring Private Equity Asia, as the latter sold half of its tech to the
American private investment firm. Apax Partners and Fujitsu of Japan were the other
contenders for the stake. The 40% stakes of CitiusTech were valued between $960 mn to
$1 bn, which has successfully catapulted the valuation of CitiusTech to around $2.4 bn, as
of May 2022. The other 40% stakes of the firm are with Baring, while the remaining stakes
are held by the company's founders.
Icertis
Startup Name Icertis
Headquarters Bellevue, Washington, United States

Startup Name Icertis
Industry AI, Cloud Data Services, CRM, Saas
Founders Monish Darda, Samir Bodas
Founded 2009
Investors B Capital Group, Ignition Partners, Eight Roads Ventures
Products and Services Contract Management Software
Icertis is designed as a powerful AI-enabled contract management platform that promises

ultimate compliance and aims to reduce the risks involved in it. Being an enterprise
contract management platform, Icertis extends easy solutions to hard contract
management issues.
When the company raised $80 million in March 2021, at a valuation of $2.8 billion, Icertis
was declared as the second most-valued startup unicorn of India. The company turned into
a unicorn even before that in 2020.
Druva
Startup Name Druva
Headquarters Sunnyvale, California, United States
Industry Software, Cloud Data Services, Cloud Security, Saas
Founders Jaspreet Singh, Milind Borate, Ramani Kothandaraman
Founded 2008
Investors Sequoia Capital India, Viking Global, Indian Angel Network
Products and Services Data protection solutions

Druva is an Indian enterprise software platform that is designed to protect and manage
enterprise data across endpoints, data centers, and cloud workloads. Built on AWS, Druva
offers a Saas platform that extends superior data resiliency options, which is infinitely
scalable, for the companies operating across the globe.
The India-based Saas company headquartered in the US is one of the earliest companies
of India that turned into a unicorn. Druva attained unicorn status in 2019.
Rivigo
Startup Name Rivigo
Industry Automotive, Logistics
Founders Deepak Garg, Gazal Kalra
Founded 2014
Investors Elevation capital, Trifecta Capital
Products and Services Cargo and freight services
Valuation $1.09 billion (January 2021)
Rivigo is a logistics platform empowered by the latest technologies that extend effective
transport services for a wide range of industries including clothing, eCommerce,
automotive, automobiles, and more. The company was founded in 2014 in Gurgaon,
Haryana, and was valued at $1.05 billion when it turned unicorn in September 2019.
Matic Network / Polygon
Startup Name Polygon Technology

Startup Name Polygon Technology
Industry Blockchain
Founders Anurag Arjun, Jaynti Kanani, Mihailo Bjelic, Sandeep Nailwal
Founded 2018
Investors Sequoia Capital, Mark Cuban, Coinbase Ventures
Products and Services Ethereum scaling platform
Valuation $10 billion (February 2022)
Polygon or Matic Network, as it was named previously, is a Bengaluru-based blockchain

startup that was founded as a result of the infamous RBI ban of cryptocurrencies that
came in April 2018. Founded by Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun, Matic
Network focussed on solving the “scalability and usability issues, without compromising
on decentralization”. It was on February 9, 2021, that Matic was renamed into Polygon.
Polygon is already a unicorn when last reported in May 2021 and is currently valued at over
$10 bn, as of February 2022. The market capitalization of its native MATIC token has
crossed the $20 billion mark once in December 2021.
MindTickle
Startup Name MindTickle
Headquarters San Francisco, California, U.S
Industry Saas, Enterprise software
Founders Deepak Diwakar, Krishna Depura, Mohit Garg, Nishant Mungali
Founded 2011
Investors Softbank Vision Fund, Qualcomm Ventures
Products and Services Enterprise software

MindTickle is a sales readiness platform founded in 2011, which helps in onboarding,
product training, coaching, and ongoing readiness. The company offers a vital sales
solution to the fast-growing startups to prepare their sales team in a scalable and effective
way. MindTickle was founded in 2011 and turned a unicorn on August 6, 2021, with the
influx of $100 mn in Series E funding led by Softbank Vision Fund II.
Delhivery
Startup Name Delhivery
Industry E-commerce, Freight services
Founders Bhavesh Manglani, Kapil Bharati, Mohit Tandon, Sahil Barua, Suraj Sa
Founded 2011
Investors FedEx, Fidelity, Steadview Capital, Tiger Global management
Products and Services Cargo and freight services
Delhivery was founded in 2011 in Gurgaon, Haryana, as a logistics and supply chain startup
that aims to provide seamless transportation, warehousing, freight, and order fulfillment
services. Delhivery Pvt. Ltd. turned unicorn back in 2019 where it raised around $413
million and was valued at $1.5 billion.
Billdesk
Startup Name Billdesk
Headquarters Ahmedabad, Gujarat, India
Industry Fintech, Finance, Payments

Startup Name Billdesk
Founders Ajay Kaushal
Founded 2000
Investors Visa, TA Associates, SBI, General Atlantic
Products and Services Payment services
Valuation Over $1 billion (December 2020)
Billdesk is a company conceived in 2000 as IndiaIdeas.com Ltd., which helps Indian

customers pay their bills safely and easily. Powered by the latest advancements in the
electronic medium, BillDesk offers its customers better ways to organize and manage their
payments online. Billdesk has already achieved unicorn status in 2018 when it mopped up
nearly $300 million in a fundraising round led by Visa.
The company is currently acquired by PayU, a Prosus-owned company headquartered in

the Netherlands via a deal worth $4.7 billion, one of the biggest deals in the Fintech range
of India.
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Mu Sigma
Startup Name Mu Sigma
Industry Analytics, IT, Software
Founders DHIRAJ C RAJARAM
Founded 2004
Investors Mastercard, General Atlantic, Sequoia Capital
Products and Services Saas, Big Data Analytics software
Valuation $1.5 billion (2013)
Mu Sigma was founded in 2014 as a data analytics services platform that offers data
analytics services along with developing decision support system tools and software for
Fortune 500 companies. Mu Sigma offers a range of services including market
measurement, product/customer segmentation and profiling, prospecting, RFM analytics,
and more. It was in 2016 when Fortune declared Mu Sigma a unicorn company.
Info Edge
Startup Name Info Edge

Startup Name Info Edge
Industry Enterprisetech
Founders Sanjeev Bikhchandani
Founded 1995
Investors Temasek Holdings, Lightbox
Products and Services Employment, Education, Real estate, Matrimonial service
Valuation $6.6 Billion (May 2023)
Info Edge, founded by Sanjeev Bikhchandani in 1995, is a technology-driven Indian internet

company offering a wide range of online services in sectors such as recruitment,
matrimony, real estate, and education. The company is well-known for its flagship
platforms, including Naukri.com for jobs, Jeevansathi.com for matrimonial services,
99Acres.com for real estate listings, and Shiksha.com for educational resources.
The company attained a valuation of over $1 billion in 2014 and became an elite member
of the Indian unicorn club.
MPL
Startup Name MPL
Headquarters Bengaluru
Industry Gaming, ESports
Founders Sai Srinivas Kiran G, Shubh Malhotra, Shubham Malhotra
Founded 2018
Investors Sequoia, Moore Strategic Ventures, Legatum Capital
Products and Services EGaming platform
Valuation $2.3 Billion (September 2021)

Mobile Premier League, now if the name rings a bell, then you’re right! MPL is another
fantasy gaming and esports platform from India after Dream11 that has turned unicorn.
The Sequoia Capital and Moore Strategic Ventures-backed startup was founded in
September 2018, just 3 years ago by Sai Srinivas Kiran G and Shubh Malhotra, which
emerged as the second gaming unicorn from the subcontinent.
Apna
Startup Name Apna
Headquarters Mumbai, Maharashtra
Industry Employment, Recruiting, Human Resources
Founders Nirmit Parikh
Founded 2019
Investors Sequoia Capital, Tiger Global Management, Lightspeed
Products and Services Professional networking platform and job portal
Valuation $1.1 Billion (September 2021)
Apna is a leading professional networking platform that helps the rising workforce of India
stay updated in terms of professional requirements and recruitment and grab them
anytime and anywhere. Apna is currently available across 28+ cities in India for students
and blue-mand gray-colored working professionals to get the best communities and land
jobs.
The Series C round was on September 15, 2021, where Apna raised around $100 million
from investors like Tiger Global, Sequoia, and others and turned into a unicorn within just
21 months of its foundation. This makes Apna the fastest unicorn in India.
Vedantu
Startup Name Vedantu
Headquarters Bangalore
Industry Edtech
Founders Vamsi Krishna, Pulkit Jain, Saurabh Saxena, and Anand Prakash
Founded 2011
Investors Coatue, Tiger Global Management, WestBridge Capital, Accel Partne
Products and Services Online tutoring, courses and classes
Valuation $1 Billion+ (September 2021)
Vedantu is an Edtech platform that offers online e-learning courses and classes to
empower real-time personalized learning experiences. Vedantu believes in bridging the
gaps between a student and his/her tutor to enjoy the benefits of real-time one-to-one
teaching. Vedantu can help students pursue online tuitions for Maths, Physics, Chemistry,
English, French, Hindi, Social Studies, German, Computer Science, and more.
Vedantu raised $100 mn via its Series E round led by ABC World Asia, Coatue, Tiger Global,
WestBridge, and others on September 29, 2021, and became the 27th Indian unicorn of
2021 and the 69th unicorn startup in the country.
Licious
Startup Name Licious
Headquarters Bangalore
Industry Ecommerce, Food delivery, Meat packaging
Founders Abhay Hanjura, Vivek Gupta
Founded 2015
Investors Bertelsmann, Mayfield Fund, Vertex Growth Fund, 3one4 Capital
Products and Services Meat, fish, eggs packaging and delivery services
Startup Name Licious
Valuation $1 Billion+ (October 2021)
Licious was founded in 2015 and headquartered in Bengaluru as a Direct-to-consumer

brand that offers fresh meat, eggs, fish, and seafood, which the customers can order online
to receive the same at their doorsteps. The meat industry in India is largely unorganized
and Licious is born out of the sole aim of organizing this sector and delivering fresh,
trustworthy, delicious meat and fish to the house of the Indians.
The company raised $52 million in its latest funding round led by IIFL AMC's Late Stage
Tech Fund, emerging as the 29th Indian unicorn company of 2021 so far, and the first
unicorn from the D2C segment, as of October 5, 2021.
CoinSwitch Kuber
Startup Name CoinSwitch Kuber
Headquarters Bengaluru, India
Industry Cryptocurrencies, Financial Services
Founders Ashish Singhal, Govind Soni, Vimal Sagar Tiwari
Founded 2017
Investors Paradigm, Ribbit Capital, Sequoia Capital, Tiger Global Management
Products and Services Cryptocurrency exchange platform
Valuation $1.9 Billion (October 2021)
CoinSwitch Kuber is hailed as a cryptocurrency exchange platform that encourages users

to buy and sell cryptocurrencies via their platform, ensuring secure and convenient
transactions. The company supports a wide list of over 100 cryptocurrencies from which
the customers can buy cryptos at the best rates, through a range of payment options.
CoinSwitch Kuber turns into India's 30th unicorn startup in 2021 so far. The company
raised a Series C funding round worth $260 million on October 6, 2021, led by a16z
(Andreesen Horowitz) and Coinbase Ventures to join the coveted club of the unicorn
companies. CoinSwitch Kuber boasts of being the second crypto unicorn of India, which
crossed the 1 billion dollar mark in less than 2 months after CoinDCX was hailed as the
first crypto unicorn of the country in August 2021. CoinSwitch Kuber is reportedly valued at
$1.9 billion on October 2021, which is higher than what CoinDCX announced in August,
which was $1.1 billion.
Rebel Foods
Startup Name Rebel Foods
Industry Ecommerce, Food Delivery
Founders Jaydeep Barman, Kallol Banerjee
Founded 2011
Investors Coatue, Alteria Capital, Irving Investors
Products and Services Food Delivery platform
Valuation $1.4 billion (October 2021)
Rebel Foods, also termed Faasos Food Services Pvt. Ltd., is a food delivery platform of
India that takes care of the food delivery requirements across the country, delivering food
products at the doorsteps of the customers. Besides, the company also boasts of a huge
network (over 450) of dark kitchens that operates in over 10 countries. Rebel Foods
currently serves over 10,000 Indian customers, the numbers of which are jumping rapidly.
The Indian cloud kitchen and food delivery startup becomes the 31st unicorn of India in
2021. Rebel Foods has raised $175 million via its Series F funding round led by the
investors like Qatar Investment Authority, Coatue and Evolvence, and more, to be valued at
$1.4 bn, as of October 7, 2021.
CarDekho
Startup Name CarDekho
Industry Automotive, Ecommerce
Founders Amit Jain, Anurag Jain
Founded 2007
Investors Sequoia Capital India, HDFC Bank, LeapFrog Investments
Products and Services Cars, Used cars retailing services
CarDekho is a leading name in the used car retailing space. Headquartered in Gurugram,
Haryana, CarDekho helps users browse through a wide selection of cars and select one
that fits them in all aspects. The platform of CarDekho is equipped with the relevant details
about the car, along with other detailed specs, experts' reviews, comparisons, and more. All
of these further ease the selection process of the car models and are some of the reasons
that have contributed to the rising popularity of the company.
CarDekho has turned into a unicorn following its recent Series E and Debt financing rounds
dated October 13, 2021, and led by LeapFrog Investments. The company has successfully
raised around $200 mn and $50 mn respectively, with the last funding rounds that it saw.
With the recent funding, CarDekho becomes the 33rd unicorn and the 3rd unicorn startup in
the used car retailing space in India so far in 2021.
MobiKwik
Startup Name MobiKwik
Industry Fintech, Payments, Mobile Payments
Founders Bipin Singh, Upasana Taku, Chandan Joshi
Founded 2009
Investors Sequoia Capital India, Hindustan Media Venture, Abu Dhabi Investm
Products and Services Digital payments platform
Valuation $1 billion (October 2021)
MobiKwik is a Fintech company founded in 2009 as digital payments platform that offers
phone-based payment options along with the facility of a digital wallet for its users.
Headquartered in Gurgaon, MobiKwik is one of the trusted names in the digital payments
space that also provides payment gateway and other financial services.
MobiKwik turned unicorn on October 12, 2021, after the conclusion of its secondary ESOP
sale round led by Mathew Cyriac, former Head of Blackstone India.
Acko
Startup Name Acko
Industry Insurtech, Insurance, Health insurance, Auto insurance
Founders Ruchi Deepak, Varun Dua
Founded 2016
Investors Munich Re Ventures, Amazon, General Atlantic, Multiples Alternate A
Products and Services Car, bike and health insurance products

Startup Name Acko
Acko is a digital insurance provider of India, dubbed as the first insurance startup that
efficiently processes car, bike, and health insurance without any paperwork. Furthermore,
Acko also possesses the license, which allows the company to underwrite and distribute
bite-sized insurance products.
Acko raised around $255 million in its Series D round led by General Atlantic and Multiples
Private Equity and turned a unicorn on October 27, 2021. The unicorn insurance provider is
the 34th Indian company to join the unicorn club in 2021 and is currently valued at $1.1 bn.
CureFit
Startup Name CureFit
Industry Healthcare, wellness
Founders Ankit Nagori, Mukesh Bansal
Founded 2016
Investors Temasek Holdings, Accel, Tata Digital, Zomato, Axis Bank
Products and Services Nutrition products, Consultation services for mental and well-being
Valuation $1.5 billion (November 2021)
CureFit is a health and fitness company that extends online and offline experiences to bring
in adequate nutrition, foster physical fitness, and mental well-being via improved yoga and
meditation, medical and lifestyle care consultation.
The Bangalore-based fitness brand turned unicorn on November 10, 2021, in a deal where
the foodtech giant Zomato sold its fitness facility arm Fitso for $50 mn and infused
another $50 mn in CureFit. This helped Zomato own 6.4% shares in CureFit, worth $100
mn. As a result of the cross-selling, CureFit joined the unicorn club of Indian startups as the
36th company to turn unicorn in 2021 and the 77th company overall among the Indian
startups.
Mensa
Startup Name Mensa
Industry Financial services, Venture capital
Founders Ananth Narayanan, Pawan Kumar Dasaraju
Founded 2021
Investors Alpha Wave Incubation, Norwest Venture Partners, Accel, Falcon Ed
Products and Services finance, working capital
Valuation $1 billion+ (November 2021)
Brands' aggregator and roll-up firm, Mensa has been founded by former Myntra CEO and
Medlife cofounder, Ananth Narayanan and Pawan Kumar Dasaraju. Mensa Brands stands
as an investment firm that strives to partner with entrepreneurs to build digital brands and
scale them. The company embraces a Thrasio-based model via which it invests working
capital and picks up equity in other D2C startups, thereby scaling the presence of the
brands online. The platform that Mensa offers helps in driving growth, product,
merchandising, technology, supply chain, product, and access to global markets, which
eventually lets the founders get lucrative financial exits along with transforming their
business through a stable and successful partnership.
Mensa raised $135 mn in a new Series B funding round led by Alpha Wave Ventures
(Falcon Edge Capital) on November 16, 2021, and has joined the coveted club of unicorn
companies in India. The company turned unicorn within just 6 months since it started its
operations, thereby emerging as the fastest Indian startup to turn unicorn.
NoBroker
Startup Name NoBroker
Industry PropTech, Real State, Property Management
Founders Akhil Gupta, Amit Kumar Agarwal, Saurabh Garg
Founded 2014
Investors Tiger Global Management, General Atlantic, Trifecta Capital, BEENEX
Products and Services Peer-to-peer property listings platform
NoBroker, as the name states, is designed on the concept of building a brokerage-free real
estate platform, which will take care of the entire journey of a customer from choosing a
house, listing it, securing a home loan, contacting the packers and movers, opting for
painting and other services and more. Founded by Akhil Gupta, Amit Kumar Agarwal,
Saurabh Garg in 2014, NoBroker is based in Bengaluru and is currently hailed as a unicorn.
NoBroker is, in fact, India's first proptech (property tech) startup that has achieved a
unicorn status on November 23, 2021. The company is the 38th Indian startup to emerge
as a unicorn in 2021. The unicorn valuation of the company was disclosed after it raised
around $210 Mn in its Series E funding round on the same date.
Spinny
Startup Name Spinny
Headquarters Gurgaon, India

Startup Name Spinny
Industry Automotives, Used car marketplace
Founders Mohit Gupta, Niraj Singh, Ramanshu Mahaur
Founded 2015
Investors Tiger Global Management, General Atlantic, Trifecta Capital, BEENEX
Products and Services Used car listing and selling platform
Valuation $1.7 billion+ (November 2021)
Spinny is a used-car buying platform that is powered by new-age technologies and enables
reliable and hassle-free transactions in used cars. Founded in 2015 in Gurgaon, Haryana,
India, Spinny is built on a full-stack business model with the aim of making the process of
buying used cars simple and transparent and ultimately helping the customers to buy cars
that match their aspirations.
Spinny has turned unicorn after it received its Series E funding round of $248 million (Rs
1,849 crore), as of November 24, 2021. The company received an investment of Rs 739.7
crore each from Tiger Global and Abu Dhabi Growth Fund, while the remaining funds
poured in from Somerville SPV and Aveni Spinny. Spinny is now officially the fourth Indian
startup from the used car space to join the unicorn club, where Droom, CarDekho, and
Cars24 have already joined earlier.
Upstox
Startup Name Upstox
Headquarters Mumbai, India
Industry Fintech, Financial services, Trading platform
Founders Raghu Kumar, Ravi Kumar, Shrinivas Viswanath
Founded 2010
Startup Name Upstox
Investors Tiger Global Management, GVK Davix Technologies
Products and Services Trading platform
Upstox is a fintech company that offers innovative investment solutions for users,
including securities brokerage and stock trading services. Based in Mumbai, Maharashtra,
the company extends equity trading opportunities for retail investors via the platform,
promising their clients to be benefited from their cutting-edge trading platform that brings
in the best-in-class services.
Upstox turned unicorn with the recent fundraising round led by Tiger Global Management,
as of November 25, 2021. The company agreed to allot around 18761 Series C preference
shares at an issue price of Rs 98,608 in order to raise the sum of $25 million (Rs 185 crore)
from Tiger Global. Upstox has raised the recent funds at a post-money valuation of an
estimated $3.4 bn, which pushes it past its rival Groww, which was recently valued at $3
bn in October 2021. Upstox thus became the 40th unicorn startup in India in 2021.
Slice
Startup Name Slice
Industry Fintech, Financial services, Banking
Founders Deepak Malhotra, Rajan Bajaj
Founded 2016
Investors Insight Partners, Tiger Global Management
Products and Services Credit cards, Payment cards

Slice is a financial startup based out of Bengaluru, India that focuses on payment
cards/credit cards, and extends them to their target audiences, mostly comprising Gen Z
and millennials.
Slice has mopped around $220 mn in the recent funding round dated November 29, 2021,
led by Tiger Global and Insight Partners to achieve a unicorn valuation. The series B round
that Slice witnessed included participation from Flipkart co-founder Binny Bansal and
Checkout co-founder and CEO, Guillaume Pousaz, along with a list of existing investors
that includes Sunley House Capital, Moore Strategic Ventures, Anfa, Gunosy, Blume
Ventures, and more. Slice is currently the 41st Indian startup unicorn of 2021.
Pristyn Care
Startup Name Pristyn Care
Industry Healthtech, Health care
Founders Harsimarbir (Harsh) Singh, Dr. Garima Sawhney and Vaibhav Kapoo
Founded 2018
Investors Tiger Global Management, Hummingbird Ventures
Products and Services Healthcare services
Pristyn Care is a healthcare startup founded in September 2018, which is designed to

disrupt elective surgery procedures. Headquartered in Gurgaon, Haryana, India, Pristyn
Care believes in leveraging cutting-edge technology and advanced procedures to simplify
medical care and surgery experiences.
The startup successfully raised $84 Million on December 7, 2021, via new funding round,
Series E, led by Sequoia Capital, Tiger Global, Hummingbird Ventures, Epiq Capital, QED,
and others to enter the unicorn club of Indian startups. With its unicorn valuation, the
health tech startup from Gurgaon has turned to be the fourth startup to achieve the feat in
its space in India after Innovaccer, PharmEasy, and CureFit.
GlobalBees
Startup Name GlobalBees
Industry Investment
Founders Nitin Agarwal, Supam Maheshwari
Founded 2021
Investors FirstCry
Products and Services Working capital, Resources
Valuation $1.1 billion+ (December 2021)
Founded in 2021, GlobalBees is a Thrasio-style startup focused on acquiring other

companies, especially startups, and scaling them with adequate funds and resources to
extend joyful product experiences. GlobalBees can also be considered as the venture arm
of FirstCry.
GlobalBees has already been in talks ever since it raised $150 mn in India's largest Series A
funding round. Furthermore, the company has become a unicorn when it again raised
around $111.5 mn in a mix of equity and debt round of Series B led by a clutch of investors
including FirstCry, SoftBank, Premji Invest, Chiratae Ventures, Trifecta Capital, and others.
Mamaearth
Startup Name Mamaearth
Headquarters Gurgaon, India

Startup Name Mamaearth
Industry Ecommerce, Health and Wellness
Founders Varun and Ghazal Alagh
Founded 2016
Investors Sofina, Sequoia Capital
Products and Services Beauty, baby care, skin care, body care products and more
Valuation $1.1 billion+ (December 2021)
Founded in 2016, Mamaearth is a personal care brand that was established as an organic
alternative to the baby, hair, face and skincare products in the market. Headquartered in
Gurgaon, Haryana, Mamaearth extends the best organic products for babies and their
mothers.
Mamaearth turned unicorn after the latest funding round that it raised on December 28,
2021, worth $80 million led by Sequoia Capital. Gurugram-based organic skincare, haircare,
and body care brand, Honasa or Mamaearth became the first unicorn in India in 2022.
Fractal Analytics
Startup Name Fractal
Headquarters New York, United States
Industry Analytics, Artificial Intelligence
Founders Ramakrishna Reddy, Pranay Agrawal, Srikanth Velamakanni
Founded 2000
Investors Apax Partners, Khazanah Nasional, Aimia
Products and Services Consultancy services
Valuation $1 billion+ (January 2022)

Fractal Intelligence is a Mumbai-based analytics startup founded in 2000 by Ramakrishna
Reddy, Pranay Agrawal, Srikanth Velamakanni, Nirmal Palaparthi, and Pradeep
Suryanarayan and is currently headquartered in New York, US. Primarily established as a
strategic analytics partner to the most sought-after Fortune 500 companies globally,
Fractal empowers every human decision by bringing analytics, AI, and other cutting-edge
technology to the decision-making process.
Fractal Analytics currently has its presence across 15 countries including the United States,
UK, Ukraine, and India. The company has recently turned unicorn by raising $360 million
from a fundraising round led by TPG Capital, and Apax Partners, as per the reports dated
January 5, 2022. Fractal is one of the leading players in the AI space with Qure.ai, Crux
Intelligence, Theremin.ai, Eugenie.ai and Samya.ai as its flagship products. It is also
important to note that Fractal is the second Indian unicorn of 2022.
LEAD School
Startup Name LEAD School
Industry Edtech, E-learning, Education
Founders Smita Deorah, Sumeet Mehta
Founded 2012
Investors GSV Ventures, Westbridge Capital, Elevar Equity
Products and Services Educational services
Valuation $1.1 billion (January 2022)
LEAD School is a Mumbai-based edtech company that helps bring in improved marketing
and academic solutions for educational institutions to transform their school education in
India. Founded in 2012 by Smita Deorah and Sumeet Mehta, LEAD School helps digitize
and transform private schools to help them serve students from varying economic
backgrounds better.
LEAD School turned unicorn on January 13, 2022, thereby becoming the first Indian edtech
startup to achieve a unicorn valuation in 2022. LEAD raised a funding round worth $100 mn
today, led by GSV Ventures and WestBridge Capital to attain unicorn status. The Deorah
and Mehta-led startup has thus become the third unicorn startup in India in 2022.
Darwinbox
Startup Name Darwinbox
Headquarters Hyderabad, Andhra Pradesh, India
Industry Saas, Artificial Intelligence, Machine Learning
Founders Chaitanya Peddi, Jayant Paleti, Rohit Chennamaneni
Founded 2015
Investors TCV, Salesforce Ventures, Sequoia Capital, Lightspeed Partners
Products and Services Enterprise HR software
Valuation $1 billion+ (January 2022)
Darwinbox has been founded by Chaitanya Peddi, Jayant Paleti and Rohit Chennamaneni
as a cloud-based Hr technology product, which serves as an end-to-end HR software that
helps enterprises automate the entire employee lifecycle. The HR software that the
company provides the organizations, helps them manage all of their HR requirements
including recruitment, payroll, employee engagement, talent management, and people
analytics across the employee life cycle under one platform.
Darwinbox has already served 1.5 million employees across 650+ organizations from over
90 different industries. The company claims to be the third-largest HRTech platform after
SAP and Oracle. The growing HR Tech platform has raised $72 million in its Series D
funding round from TCV on January 25, 2022, to attain the unicorn club of Indian
companies. The unicorn valuation obtained by Darwinbox has made it the first Indian Saas
unicorn of 2022 and the fourth unicorn overall that the country has seen this year.
DealShare
Startup Name DealShare
Headquarters Bengaluru, Andhra Pradesh, India
Industry Ecommerce, Grocery
Founders Rajat Shikhar, Sankar Bora, Sourjyendu Medda, and Vineet Rao
Founded 2018
Investors Tiger Global, Alteria Capital, Alpha Wave Global, Innoven Capital and
Products and Services Grocery and other consumer products via its ecommerce business
Valuation $1.62 billion+ (January 2022)
DealShare is a social eCommerce startup based in Bengaluru. Founded in 2018 by Rajat

Shikhar, Sankar Bora, Sourjyendu Medda, and Vineet Rao, DealShare boasts of having multi-
category consumer goods that are available at affordable prices.
DealShare has turned into a unicorn, as per the reports dated January 27, 2022. The
Bangalore-based grocery and essentials delivery eCommerce platform have raised $130
million via a Series E funding round led by Tiger Global, Alpha Wave, Kora Investment, and
others for this recent round in funding.
ElasticRun
Startup Name ElasticRun
Headquarters Pune, Maharashtra, India
Industry Ecommerce, Logistics, Transportation
Founders Sandeep Deshmukh, Saurabh Nigam, Shitiz Bansal

Startup Name ElasticRun
Founded 2015
Investors Softbank, Kalaari, Prosus, Innoven, Norwest Venture Partners and m
Products and Services Online system, logistics and transportation support
Valuation $1 billion+ (February 2022)
ElasticRun is an eCommerce logistics and transportation-based startup headquartered in

Pune, Maharashtra, which is designed to serve as an online system that will empower the
eCommerce and distribution industry of India by improving the reception of orders from
customers and the dispatch of delivery drivers.
In a recent round of funding dated February 8, 2022, ElasticRun has raised over $300
million from SoftBank Vision Fund 2, Goldman Sachs with some of its existing investors
including Prosus Ventures. At the conclusion of the fresh funding round, the company
posted a post-money valuation of $1.44 bn. ElasticRun was just valued at $400 mn during
the last round that it saw in April 2021, thereby implying that the valuation of the company
saw a 3X rise. With this round, the Kirana commerce platform becomes the 6th unicorn
startup in India in 2022.
Livspace
Startup Name Livspace
Industry Ecommerce, Furniture, Interior design
Founders Anuj Srivastava, Ramakant Sharma, Shagufta Anurag
Founded 2014
Investors Trifecta, Saint Gobain, Bessemer Venture, Helion Venture, Kharis Ca
Products and Services Interior Design solutions

Startup Name Livspace
Valuation $1.44 billion+ (February 2022)
Built with an aim to connect individuals with designers, services, and products, Livspace is
an interior designing startup that works as an omnichannel home interior and renovation
platform. Headquartered in Bengaluru, Livspace helps homeowners to find pre-created
looks for rooms, kitchens, and storage areas on the platform. Furthermore, Livspace also
extends the opportunities to its customers to choose and buy the designs they want, along
with further options for customization.
The Anuj Srivastava and Ramakant Sharma-led startup raised $180 Mn in a Series F
funding round led by American investment giant KKR & Co. and other existing investors of
Livspace including Jungle Ventures, Venturi Partners, Ingka Group (Ikea), and Peugeot
Investments. This has lifted the valuation of Livspace to $1.44 bn. With the unicorn
valuation that Livspace attained with the funding round dated February 8, 2022, the
company witnessed a 2X jump in its valuation since December 2019, when it was valued at
$500 million. The company became the 7th Indian unicorn in 2022 and is the 50th unicorn
since January 2021.
Xpressbees
Startup Name Xpressbees
Industry Ecommerce, Logistics, Supply Chain Management
Founders Amitava Saha, Supam Maheshwari
Founded 2015
Investors Blackstone Capital, TPG Growth, Gaja Capital, Alibaba Group, InnoVe
Products and Services Express delivery services, ecommerce logistics services

Founded by Supam Maheshwari and Amitava Saha, Xpressbees is an eCommerce logistics
platform that extends reliable delivery solutions to its partners along with customized
delivery solutions. Headquartered in Pune, India, the company offers a wide range of
delivery and logistics-oriented services including comprehensive last-mile delivery, reverse
logistics, payment collection, drop shipping, vendor management, cross-border services,
fulfilment services, and more. Furthermore, Xpressbees also boasts of bringing in tailored
software solutions to clients.
Xpressbees is the 8th unicorn company in India, which raised $300 million worth of funds
in its latest Series F funding round led by Blackstone Growth, TPG Growth, and
ChrysCapital on February 9, 2022. The funding round via which it raised the funds that will
support the next phase of business growth of Xpressbees also saw participation from its
existing investors including Investcorp and Norwest Venture Partners.
Uniphore
Startup Name Uniphore
Headquarters Chennai, Tamil Nadu, India and Palo Alto, California, USA
Industry AI, Saas, Software
Founders Ravi Saraogi, Umesh Sachdev
Founded 2008
Investors IIFL, Sorenson, March Capital, Chiratae Ventures and more
Products and Services auMina and akeira and other software products
Valuation $2.5 billion+ (February 2022)
Uniphore is a Conversational Automation platform founded by Ravi Saraogi and Umesh

Sachdev in 2008. The customer service platform developed by Uniphore is powered by AI
and automation technologies the vision of which is to bridge the gap between people and
machines through voice. Headquartered in Silicon Valley, Uniphore extends first-rate
customer service to global businesses and helps them benefit from the integrated suite of
software products for conversational analytics, assistance, and security that Uniphore
provides. auMina and akeira, two proprietary AI solutions are already developed by
Uniphore in the speech analytics and virtual assistant verticals.
Uniphore raised $400 million in a Series E round led by NEA, March Capital, and others to
become the eighth unicorn of India in 2022, as per the reports dated February 16, 2022, at
the end of which the company was valued at $2.5 billion.
Hasura
Startup Name Hasura
Industry Software
Founders Rajoshi Ghosh and Tanmay Gopal
Founded 2017
Investors Greenoaks, Lightspeed Venture Partners, Vertex Ventures and more
Products and Services GraphQL development platform
Hasura is a Bengaluru-based GraphQL development platform that has built its platform
with an aim to boost web application development. The Rajoshi Ghosh and Tanmay Gopal-
led startup plan to do this by reducing the roadblocks, thereby making data access easy for
the frontend and full-stack developers. The platform turned into an open-source platform in
July 2018 and since then developers from around the world have used Hasura to help
themselves build the data layer for modern applications.
This developer-focused tooling products platform turned into a unicorn on February 22,
2022, thereby becoming the 10th Indian startup to enter the coveted unicorn club in 2022.
It raised a funding of $100 million to obtain unicorn status in its Series C funding round.
CredAvenue
Startup Name CredAvenue
Headquarters Chennai, Tamil Nadu, India
Industry Fintech, Finance, PaaS
Founders Gaurav Kumar and Vineet Sukumar
Founded 2017
Investors Dragoneer, B Capital Group, Insight Partners, Sequoia Capital and m
Products and Services CredLoan, CredCo-Lend, Plutus
Valuation $1.3 billion+ (March 2022)
Termed as a complete corporate debt solution, CredAvenue is founded by Gaurav Kumar in

2017 and is designed as a fully integrated, unified digital platform, which helps investors
discover, trade, execute and fulfil debt solutions for investors. Vineet Sukumar, who joined
the startup in October 2020 also stands as the Founder and Director of CredAvenue.
CredAvenue turned into a unicorn on March 6, 2022, by raising $137 million worth of funds
in a series-B round led by Insight Partners, B Capital Group, and Dragoneer. The company is
currently valued at over $1.3 billion, which is more than double the valuation of CredAvenue
that was measured in September 2021. The Chennai-based debt marketplace startup
becomes the 11th Indian startup to attain unicorn status in 2022.
Amagi
Startup Name Amagi
Headquarters New York, US

Startup Name Amagi
Industry Media, Advertising, Entertainment
Founders Baskar Subramanian, Srinivasan KA, Srividhya Srinivasan
Founded 2008
Investors Accel, Mayfield, Premjiinvest, Emerald Media and more
Products and Services Cloud solutions for broadcasting
Valuation $1 billion+ (March 2022)
Founded in 2009, by Baskar Subramanian, Srinivasan KA, Srividhya Srinivasan, and

originally headquartered in Bengaluru, Amagi is a media-tech and broadcasting startup that
helps target TV advertisements geographically. As a Cloud Saas technology provider,
Amagi offers a mix of media and innovation to bring services that are powerful, cost-
effective, and result-oriented, thereby making a way for a new TV-media advertising
platform.
Amagi raised $95 million in funding on March 16, 2022, led by Accel and a clutch of
existing investors like Norwest Venture Partners and Avataar Ventures, which helped it
attain a unicorn valuation. With this funding round, Amagi becomes the 12th Indian startup
to enter the unicorn club in 2022. It is also presently hailed as one of the highest valued
media tech companies in the world.
CommerceIQ
Startup Name CommerceIQ
Headquarters Palo Alto, California, USA
Industry Machine Learning, AI, Ecommerce
Founders Guru Hariharan
Founded 2012
Startup Name CommerceIQ
Investors Softbank, Insight, Shasta Ventures and more
Products and Services Tools and technology for bettering ecommerce
Started as Boomerang Commerce, founded by Guru Hariharan, CommerceIQ is an

omnichannel management platform that is currently headquartered in Palo Alto, California,
US. Founded in 2012, CommerceIQ uses cutting-edge technologies including Machine
Learning and Automation to multiply e-commerce sales.
CommerceIQ raised $115 million in its Series D funding round dated March 21, 2022, led by
Softbank to turn a unicorn. This funding round made CommerceIQ the 13th unicorn that
India has seen so far in 2022 and the second Indian company to turn unicorn by a funding
round led by SoftBank after ElasticRun.
Oxyzo
Startup Name Oxyzo
Industry Fintech, Financial Services, Lending
Founders Asish Mohapatra, Bhuvan Gupta, Nitin Jain, Ruchi Kalra, Vasant Shri
Founded 2016
Investors Alpha Wave, LLC, Matrix, Capital Management, Tiger Global, Norwes
Products and Services Financial Services
Oxyzo is a credit solutions provider, working as the lending arm of the unicorn industrial
goods and services procurement platform, OfBusiness. Founded by Asish Mohapatra,
Ruchi Kalra, with a deep understanding of the SMEs' business trends, Oxyzo aims to
transform small and medium-scale enterprises into something bigger in terms of
operations, revenue, and profit margins.
In the latest Series A funding round that Oxyzo witnessed on March 23, 2022, where it
received $200 million from a clutch of investors including Alpha Wave Global, Tiger Global,
Matrix Partners, Norwest Venture Partners, and more, the company turned unicorn. This
was the first external round of investment that Oxyzo received that has made it attain
unicorn status. Owned by OfBusiness, Oxyzo is the second unicorn of the group. Raising
such a large amount in the Series A round, Oxyzo has also been recorded as the first Indian
startup to do so to date.
Games 24x7
Startup Name Games 24x7
Industry Gaming, Fantasy Sports
Founders Bhavin Pandya, Trivikraman Thampy
Founded 2006
Investors Malabar Investment and more
Products and Services Gaming platform
Valuation $1 billion+ (April 2022)
Games 24x7 is India's leading scientific gaming company. Founded by Bhavin Pandya and
Trivikraman Thampy, on June 1, 2006, headquartered in Mumbai, Maharashtra, Games
24x7 offers real money skill gaming, daily sports fantasy games, and casual gaming for its
users.
The leading games platform recently turned unicorn on March 30, 2022, by raising $75 mn
of funds led by Malabar India Fund and is currently valued at $2.5 billion. Tiger Global was
an existing investor who also took part in the same funding round. Games 24x7 is currently
hailed as India's 99th unicorn company, as per the reports dated 30th March 2022.
Open
Startup Name Open
Industry Fintech, Financial Services, Banking
Founders Ajeesh Achuthan, Anish Achuthan, Deena Jacon, Mabel Chacko
Founded 2017
Investors Temasek, IIFL, Trifecta and more
Products and Services Neobanking services
Valuation $1 billion+ (May 2022)
Open is a neobanking startup that was founded in 2017 and is headquartered currently in
Bangalore. Ajeesh Achuthan, Anish Achuthan, Deena Jacon, and Mabel Chacko were the
minds behind the foundation of Open.
The neobanking culture is rapidly influencing the Indian banking and financial system and
Open has been one of the major players in this growing culture. Open is currently powering
2.3+ million SMEs and processing over $30 billion in annualized transactions, which is
certainly huge. This neobanking startup has put another feather in its cap by raising $50
mn in its Series D round on May 2, 2022, and turning into a unicorn, led by IIFL, Temasek,
3one4 Capital, and Tiger Global. With this, Open has seized the title of being the 1st Indian
unicorn from the neobanking space and the 16th unicorn that India has seen so far in
2022.
It is also important to note here that Open has resumed India's unicorn streak, which
showed an unprecedented pause towards the end of March 2022, after Games 24x7
achieved the unicorn status.
PhysicsWallah
Startup Name Physics
Headquarters Noida, UP, India
Industry Edtech, Elearning
Founders Alakh Pandey
Founded 2016
Investors Westbridge, and GSV Ventures
Products and Services Tutoring, Study materials for Classes 6-12, and Live Courses for them
Valuation $1.1 billion+ (June 2022)
PhysicsWallah is an edtech company founded by Alakh Pandey in 2016, where Prateek

Maheshwari. It offers online and offline courses and study materials for engineering and
medical entrance examinations like JEE and NEET along with various entrance and state
board exams. Video lectures, live classes, test series, and dynamic exercises are some of
the main services that PhysicsWallah offers.
PhysicsWallah had last seen the Series A funding round, which was the maiden fundraising
round that poured $100 mn into the startup. This round was led by Westbridge and GSV
Ventures and helped the bootstrapped startup turn into an Indian unicorn company on
June 7, 2022, thereby making PhysicsWallah the 101st Indian unicorn. PhysicsWallah,
which was valued at $1.1 bn post the infusion, is currently hailed as the second
bootstrapped Indian company that turned a unicorn. PhysicsWallah belongs to the edtech
space that is seeing a huge upheaval after the unwinding of the country post-pandemic.
Losses rage the edtech sector now, and layoffs are the new normal for the Edtech space in
India.
Purplle
Startup Name Purplle
Industry Beauty, Cosmetics, Ecommerce
Founders Manish Taneja, Rahul Dash
Founded 2012
Investors Blume Ventures, Kedaara Capital, PremjiInvest, Goldman Sachs and
Products and Services Ecommerce platform for cosmetics and beauty products including h
Valuation $1.1 billion+ (June 2022)
Purplle is an Indian multi-brand beauty retailing online marketplace that was founded in
2011. Founded by Rahul Dash and Manish Taneja, Purplle is an online store that offers a
wide range of products spanning numerous categories like fragrances, cosmetics, hair and
skincare, and more.
The Mumbai-headquartered D2C cosmetic ecommerce brand turned unicorn on June 7,

2022, by raising $33 mn of funding from South Korea-based Paramark Ventures and its
existing investors including Kedaara Capital, Blume Ventures, and PremjiInvest.
LeadSquared
Startup Name LeadSquared
Industry Saas, Technology
Founders Nilesh Patel, Prashant Singh, and Sudhakar Gorti

Startup Name LeadSquared
Founded 2011
Investors WestBridge Capital, International Finance Corporation, Gaja Capital
Products and Services Marketing Automation, Field Force Automation, Self-serve Portal, Sa
Valuation $1 billion+ (June 2022)
Raising $153 mn in its Series C funding round from WestBridge Capital and others,
LeadSquared turned unicorn, thereby becoming the 103rd Indian unicorn, as of June 21,
2022. With this latest funding in its arsenal, LeadSquared is planning to invest more in its
business in India and North America. It is also looking to foray into the APAC and EMEA
regions ahead, and would also fund some acquisitions. Besides, it is also looking to
increase its workforce, and might even double its headcounts in the next 18 months.
LeadSquared was founded by Nilesh Patel, Prashant Singh, and Sudhakar Gorti in 2011,
and is currently headquartered in Bengaluru. New Jersey, Philippines, South Africa,
Australia, and Indonesia are some other territories where the company has seen its
expansion to date. As a company, LeadSquared offers solutions for end-to-end sales,
marketing, and onboarding automation, making these processes easy for its customers.
LeadSquared already has 2,000+ customers, which belong to a variety of industries,
including education, BFSI, healthcare, real estate, automotive, hospitality, and more. Some
of its customers include biggies like Byju's, Godrej Housing Finance, Olx, Dunzo, Practo,
Kotak Securities, Amazon Pay, NIIT, Uni, and more.
OneCard
Startup Name OneCard
Industry Financial Services, Credit card challenger
Founder Vaibhav Hathi, Rupesh Kumar, Anurag Sinha
Founded 2018
Startup Name OneCard
Investors Sequoia Capital, Ocean View Investment, QED Holdings, Matrix Part
Products and Services Metal credit cards, Visa credit cards, OneScore
Valuation $1.3 billion (FY22)
OneCard was founded in 2018 by Vaibhav Hathi, Rupesh Kumar, and Anurag Sinha, and is
a subsidiary of FPL Technologies. Being an Indian startup from the credit card challenger
space, OneCard competes with companies like Slice, Karbon Card, Uni Card, and more.
OneCard rolled out its first mobile metal credit card in 2020, which it offers as a service
along with Visa credit cards in partnership with numerous banks, and OneScore, a digital
credit score checking platform that helps users check their credit scores without paying
anything and without even any spams. OneCard currently extends its services in 12+ states
across India.
OneCard turned unicorn after it raised $100 mn in funds via its Series D funding round led
by Temasek, Sequoia Capital, QED Holdings, Matrix Partners, Hummingbird, and others,
on June 13, 2022. With this fundraising round, OneCard is now valued at around $1.3 bn,
thereby turning into the 104th Indian unicorn in 2022. Its total funding now crossed $225
mn, as of July 14th, 2022. After Slice, OneCard is now the second unicorn Indian startup
in the credit card challenger space now.
5ire
Startup Name 5ire
Headquarters London, England, UK
Industry Blockchain Network
Founder Pratik Gauri, Prateek Dwivedi, and Vilma Mattila
Founded August 2021
Investors SRAM & MRAM, GEM Global Yield LLC SCS (GGY), Launchpool, Sanc
Startup Name 5ire
Products and Services 5th generation Layer-1 (L1) blockchain network, 5irechain testnet, m
5ire is a London-based 5th generation Layer-1 (L1) blockchain network founded by Pratik
Gauri and Prateek Dwivedi, who are of Indian origin, and with the help of web3 financier
Vilma Mattila, in August 2021. 5ire aims to build a space in the web3 revolution, just like
Google did in the case of web1 revolution and Facebook revolutionised the web2 space,
mentioned the company CEO Pratik Gauri. The name "5ire" came from the idea of the 5th
industrial revolution.
5ire raised $100 mn in Series A funding from UK-based conglomerate SRAM & MRAM at a
valuation of $1.5 Bn to be listed as the 105th unicorn of India.
Shiprocket
Startup Name Shiprocket
Industry Ecommerce, Logistics, Supply Chain Management
Founders Gautam Kapoor, Saahil Goel, Vishesh Khurana and Akshay Ghulati
Founded 2017
Investors Tamesek Holdings, Lightrock, Bertelsmann, Moore Strategic Venture
Products and Services Ecommerce Logistics and Shipping Software, Courier Delivery App
Shiprocket was founded in 2017 by Gautam Kapoor, Saahil Goel, Vishesh Khurana and
Akshay Ghulati. The startup is a developer of an eCommerce shipping and enablement
application and is headquartered in New Delhi. The platform makes use of a machine
learning-based data engine to recommend the best courier service for a business and
select a courier company. Apart from this, it offers benefits like packaging, warehousing,
printing shipping labels, and tracking orders from a single panel. This helps the merchants
and sellers to manage the deliveries smoothly.
The Zomato-backed logistics startup has become the 106thunicorn startup in India after
raising $33.5 million from Temasek Holdings and Lightrock raising its valuation to $1.2
billion. This makes it the 21st Indian startup to turn unicorn in 2022.
Tata 1mg
Startup Name Tata 1mg
Headquarters Gurugram, Haryana, India
Industry HealthTech
Founders Prashant Tandon, Gaurav Agarwal, Vikas Chauhan
Founded 2015
Investors Tata Digital, KWE Beteiligungen AG, HBM Healthcare Investments, M
Products and Services Medicines, Lab Tests, Doctor consultation
Valuation $1.25 (September 2022)
Tata 1mg (formerly 1mg) was founded in the year 2015 by Prashant Tandon, Gaurav
Agarwal, and Vikas Chauhan. The startup is headquartered in Gurugram, Haryana. It is an
online drug delivery platform that intends to make healthcare more accessible and
affordable. The platform is known to offer medicines and other healthcare products, lab
tests, and online consultations from healthcare professionals. All this makes it a one-stop
solution for all of the customers’ healthcare needs.
The Tata-owned health tech platform has become the 107th unicorn startup in India after
raising $40 million in an internal round of funding led by Tata Digital, raising its valuation
to $1.25 billion.
Molbio Diagnostics
Startup Name Molbio Diagnostics
Headquarters VERNA, Goa, India
Industry HealthTech, MedTech
Founders Chandrasekhar Nair, Sriram Natarajan
Founded 2010
Investors Temasek Holdings, Motilal Oswal Private Equity
Products and Services Medical Diagnostics, TB Diagnostic Tools, RT-PCR
Valuation $1.53 (September 2022)
Molbio Diagnostics is a manufacturer of molecular diagnostics. The company was

founded by Sriram Natarajan and Chandrasekhar Nair and is headquartered in Verna, Goa.
It operates as a platform that specializes in providing affordable diagnoses for
tuberculosis and other infectious diseases.
After raising $85 million from Temasek and existing investor Motilal Oswal Alternates,
Molbio Diagnostics became India's 108th unicorn startup in September 2022 and the first
unicorn startup from Goa, increasing its valuation to $1.53 billion.
Zepto
Startup Name Zepto
Industry Delivery Service, Grocery Delivery, Quick Commerce
Founders Aadit Palicha, Kaivalya Vohra

Startup Name Zepto
Founded 2021
Investors StepStone Group, Goodwater Capital
Products and Services Online grocer
Zepto was founded by Kaivalya Vohra and Aadit Palicha, both Stanford students who
decided to drop out of the university to pursue entrepreneurship. The startup was founded
in 2021 and is headquartered in Mumbai. It is a quick commerce platform designed to
deliver groceries to your doorstep within 10 minutes, ensuring convenient access to
essential food items.
Zepto became India's first unicorn in 2023 after a long 11-month unicorn drought. The
startup raised $200 million in a Series E funding round led by StepStone Group with
participation from Goodwater Capital and existing investors in August 2023. This funding
round increased Zepto's valuation to $1.4 billion, making it an exclusive member of the
unicorn club.
Former Indian Unicorn Companies

India has seen many unicorn companies to date and the above list containing is a
testament to that. However, if you wonder about the total number of unicorns in India, then
the numbers would be even more than what reflects in the list above because many of the
unicorn companies in the country have either gone defunct or devalued thus, lost their
unicorn status. Here's remembering the prominent ones among them:
Quikr
Quikr is a Bengaluru-based Indian online marketplace and classified advertising company
that was founded in 2008 by Pranay Chulet. Quikr boasts of having its listings in over 1000
cities in India across a wide range of product categories including cars, mobile phones,
household products, education, jobs, services, and more.
The online classified ads major was valued at over $1.5 billion on October 8, 2015.
However, the company lost its unicorn status in February 2020.
Hike Messenger
Started as a social media instant messaging app, Hike Messenger was beyond a craze
when it first launched. It was the time when Whatsapp was launched recently in India and
was far from gaining the popularity that it is currently known for. Kavin Bharti Mitta, who
was the founder and CEO of Hike, founded the company in December 2012.
Hike raised $175 million in a Series D funding round, which valued the startup at $1.4
billion in just under 3.7 years in August 2016, thereby becoming the then youngest startup
in India to achieve the feat!
However, the company saw a massive drop in its revenue as Whatsapp rapidly rose to
fame and dominated the market. The company tried some strategies to lift its brand value.
It even tried a sticker-centric experience by rebranding itself as Hike Sticker Chat in April
2019. The company finally announced its shutdown on January 15, 2021.
Shopclues
ShopClues was founded by Sanjay Sethi, Radhika Aggarwal, and Sandeep Aggarwal in
2011 and has claimed to be India's first and largest managed marketplace. It was once a
promising company with over 2.5 crore listed products and 6,00,000+ merchants.
Shopclues also turned into a unicorn back in 2016 and was hailed as the fourth unicorn
startup in India. However, ShopClues has slowly and steadily collapsed from being a
promising unicorn to an also-ran by the company and was finally sold to Singapore-based
Qoo10 Pte Ltd at a valuation of just $70-100 million in an all-stock deal.
FAQs
What is the meaning of a Unicorn startup?
Startups with a valuation of over $1 Billion are known as Unicorns.
How many unicorns are there in India?
As of August 2023, there are currently 110 unicorns in India. In 2021, the country witnessed
the rise of more than 40 startups becoming unicorns, followed by over 20 in 2022 and one
in 2023.
Which are the top Indian unicorns?

Some of the top unicorns that India boasts of today are:
Zomato
Nykaa
PolicyBazaar
OYO
Ola
Paytm
Swiggy
BYJU'S
FirstCry
Lenskart
Freshworks
Moglix
Nykaa
Swiggy
Pine Labs
BlackBuck
Which is India's first unicorn startup?

InMobi, a Bangalore-based multinational mobile advertising technology company, founded
in 2007 is the first to enter the unicorn club. InMobi became the first unicorn in 2011.
Is Nykaa a unicorn?
Nykaa entered the unicorn club in 2020.
Which country has the most unicorns?

The United States is at the top of the list with over 650 unicorns as of August 2023.
What is the obsession with unicorn startups?

Unicorn startups boast of their valuation, which has crossed the $1 billion mark, and are
always at the edge of their gameplay. The companies grouped in as unicorns are forever in
competition with each other, and always stand as inspirational figures for the rest of the
startups and other budding companies.
How many companies turn unicorns?

Though startups are everywhere now around us, as per the recently conducted surveys, 9
out of every 10 startups fail. Therefore, being a successful startup and turning it into a
unicorn is always difficult for startups. AngelList says that a venture-backed seed-stage
startup has a 1 in 40 shot, which is equivalent to a 2.5% chance of achieving unicorn status
today.
Is Zerodha a unicorn?
Yes, Zerodha entered the unicorn club in 2020 with a valuation of about $1 billion.
Which Indian startups became unicorns in 2020?

Pine Labs
FirstCry
Nykaa
Unacademy
Zerodha
Razorpay
Postman
Cars24
Dailyhunt
Glance, InMobi, and more.
Which Indian startups became unicorns in 2021?

BrowserStack
Moglix
PharmEasy
CRED
Meesho
Urban Company
Digit Insurance
Groww
Gupshup
Chargebee
Zeta
Infra.Market
Innovaccer
Five Star Business Finance
Licious
Vedantu and more.
How many Indian companies turned unicorns in 2022?

There were 23 Indian companies that turned into unicorns in 2022.
What are the Indian companies that turned unicorns in 2022?

The Indian companies that turned unicorns in 2022 are:
Mamaearth
Fractal Analytics
LEAD School
Darwinbox
DealShare
ElasticRun
Livspace
Xpressbees
Uniphore
Hasura
CredAvenue
Amagi
CommerceIQ
Oxyzo
Games 24x7
Open
PhysicsWallah
Purplle
LeadSquared
OneCard
5ire
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Anik Banerjee Arbaz Sayed
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List of 110 Unicorn Startups in India and Counting |

India is becoming the world's fastest-growing

The country has been declared as the 3rd top

A Celebration for 100 Indian Unicorns

Startup Name Industry Founding Year

Zepto Quick Commerce 2021

Molbio Diagnostics HealthTech, MedTech 2010

Tata 1mg HealthTech 2015

Shiprocket Logistics 2017

5ire Fintech 2021

OneCard Fintech 2018

PhysicsWallah Edtech 2016

LeadSquared SaaS- CRM 2011

ElasticRun E-commerce Logistics 2015

LEAD Edtech 2012

Purplle E-commerce Personal Care 2012

DealShare E-commerce 2018

Xpressbees E-commerce Logistics 2015

Open Fintech 2017

Games24x7 Gaming 2006

Amagi Media, Advertising 2008

Fractal SaaS- Analytics 2000

Darwinbox SaaS- HR 2015

Livspace E-commerce Interior Design 2014

Uniphore SaaS- Conversational Automation 2008

Hasura SaaS- Programming Tools 2017

Yubi (Formerly CredAvenue) Fintech 2017

CommerceIQ E-commerce Management Platform 2012

Oxyzo Fintech 2016

Moglix E-commerce 2015

NoBroker PropTech 2014

MobiKwik Fintech 2009

Spinny Automotive, E-commerce 2015

MPL ESports 2018

Acko Insurtech 2016

ShareChat Media & Entertainment 2015

Eruditus Edtech 2010

upGrad Edtech 2015

Apna Marketplace- Employment 2019

Urban Company Home Services 2014

BharatPe Fintech Payments 2018

CarDekho E-commerce Automotives 2007

Licious E-commerce Meat Products 2015

Zetwerk Manufacturing 2018

Meesho E-commerce 2015

Blinkit (ex-Grofers) E-commerce- Groceries 2013

Pristyn Care Healthtech 2018

Vedantu Edtech 2011

Upstox Fintech 2010

Slice Fintech 2016

CRED Financial Technology 2018

Cult.fit Healthtech 2016

Mamaearth E-commerce Personal Care 2016

Infra.Market B2B E-commerce 2016

Five Star Business Finance Financial Services 1984

OfBusiness Building Materials 2015