India
Currently, India is a home to 51 unicorns. With the stats available, it can be clearly stated that India is producing three unicorns in a month. Alone in 2021, even when the year has not ended, India has managed to produce 25 unicorns. Unicorns is a term specifically designed for start-ups that have managed to achieve a valuation of $1 billion and another criteria set for it is that the founding date of the startup should stand after 2000. The entire combined worth of the future unicorns of India is estimated to be worth around $36 billion and the current worth of all the total unicorns of India is $168 billion. Hurun India Future Unicorn List 2021 which is released by the Human Research Institute has created a list of 10 Indian start-ups that could be future unicorns. The companies listed are mentioned below.
1. Zilingo
It is a Sequoia backed up online retail store. The company was founded by Ankiti Bose and Dhruv Kapoor and it deals with small fashion merchants. Till now, the company has raised an investment of $310 million. It is a B2B platform that is backed by numerous investors.
2. Mobile Premier League
It is a gaming company based in Bengaluru. The company was founded in 2018 by Sai Srinivas Kiran and Shubham Malhotra. The company currently has 76 million users in the country. The company is again backed by Sequoia with numerous other investors. A total of $230 million has been raised by the company. Recently, it also acquired GamingMonk.
3. Rebel Food
This start-up is known to be India’s first cloud kitchen startup. Founded in 2010 by Kallol Banerjee and Jaydeep Barman, the company works with numerous popular brands like Faasos and Behrouz Biryani.
4. Cure.Fit
It is a fitness startup. In June 2021, CureFit managed to get an investment of $75 million by Tata Digital and it is backed by global investors like Accel Partners, Temasek and Epiq Capital.
5. Spinny
It is a Gurugram based start-up founded in 2015 by Ramanshu Mahuar, Niraj Singh and Mohit Gupta. Currently, the company operates in nine cities. It is a car platform where buyers can purchase pre-owned cars. Spinny has 900 employees and has raised more than $120 million.
6. RateGain
It is a travel technology start-up that provides Software as a Service or SaaS assistance to the travel and the hospitality industry.
7. Mamaearth
It is a D2C personal care brand that is known to use natural ingredients in producing their companies. A customer can purchase Mamaearth products directly from their website or through other online stores like Nykaa which ships the product to the customer using courier services similar to ePacket and other courier services. Many eCommerce companies are heavily dependent on services like YunExpress and DHL for delivering their domestic and international shipment.
8. CarDekho
It is another Gurugram based startup that was founded in 2007 by Anurag Jain and Amit. It is an online car portal like Spinny that allows users to purchase both new and used cars. Sequoia Capital is again one of the many investors in the company.
9. GreyOrange
Standing out in the list is this Singapore based robotics company. The company was founded in 2009 by Akash Gupta and Samay Kohl who are BiITS Pilani Alumni. Till that, GreyOrange has gone through four rounds of investment and has raised a total investment of $70 million.
10. MobiKwik
MobiKwik is a digital payment application similar to but not the same as PayTm based on Gurugram. The company was founded in the year of 2009 by a husband-wife duo. The start-up uses big data analytics to fix the issue of unmet credit.
It is estimated that the companies listed here will soon make the list of unicorns. Currently, India is home to hundreds of start-ups and further, these start-ups are going experiencing a huge influx of investments by both domestic and international investors. With initiatives like Startup India, the Government of India has put in dedicated efforts to hone the startups’ ecosystem. The hyperactivity due to the Indian start-ups will surely be beneficial for the Indian economy. Many start-ups like Nykaa, Paytm and Freshworks have also registered their IPOs and are on their way to becoming even bigger companies.
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