Highlighting the success of India’s startup ecosystem thru the Covid-19 pandemic, Top Minister Narendra Modi spoke relating to the country’s burgeoning enviornment of unicorns, which has reached a landmark figure of 100, worth over 300 billion bucks collectively.
Sharing this month’s #MannKiBaat. Tune in. https://t.co/pa2tlSlVCD
— Narendra Modi (@narendramodi) Would possibly maybe merely 29, 2022
“On the 5th of this month, the number of unicorns within the country has reached the figure of 100 and you indubitably know that a unicorn is a startup worth now not decrease than seven and a half of thousand crore rupees. The total valuation of these unicorns is bigger than 330 billion bucks, that’s, bigger than 25 lakh crore rupees. Certainly, here’s a matter of satisfaction for each and every Indian,” he talked about for the period of Sunday’s ‘Mann Ki Baat’ address.
“That you just would possibly also be surprised to know that out of our total unicorns, 44 came up closing year. No longer handiest that, 14 more unicorns had been shaped anew in three-four months this year. This means that even on this share of the global pandemic, our startups had been developing wealth and price,” he persevered.
With the address extra sparking conversations online relating to the destiny and persevered success of India’s startup sector, we took a 2d to revisit India’s ten greatest unicorns—startups that have crossed the $1 billion valuation designate and made an mark on the trend as much as date India approaches entrepreneurship.
Describe: This list omits Hike and Snapdeal attributable to insufficient records readily accessible to the final public.
1. OYO – $9.6 Billion
Founders: Ritesh Agarwal
Headquarters: Delhi NCR
Years To Unicorn: 5
An Indian hospitality chain, OYO covers leased and franchised hotels, homes, and living areas, with over 43,000 properties and 1 million rooms in 80 international locations.
Launched in 2012 as ‘Oravel Stays’, the corporate changed into as soon as essentially based with a $100,000 grant from the Thiel Fellowship – a two-year program from PayPal co-founder Peter Thiel.
2. Zomato – $8.6 Billion
Founders: Pankaj Chaddah, Deepinder Goyal, Gaurav Gupta
Headquarters: Delhi NCR
Years To Unicorn: 7
One among the enviornment’s greatest restaurant aggregator and meals provide companies, Zomato supplies users records, menus, reports, and all assorted vital little print from restaurants in 24 international locations.
Despite concerns relating to revenue margins, layoffs, and PR components, Zomato has remained very widespread since its starting up in 2008, going public within the summertime of 2021.
3. Records Edge – $8.2 Billion
Founders: Sanjeev Bikhchandani
Headquarters: Delhi NCR
Years To Unicorn: 19
One among India’s greatest dotcom bubble reports, Records Edge changed into as soon as essentially based in 1995 and on the starting up enthusiastic on reproducing newsprint labeled commercials. It has since essentially based Jeevansathi, 99acres, and Shiksha, with 70 percent of its revenue coming from Naukri.com, as per 2018 figures.
Records Edge changed into as soon as also an early investor in Zomato and Policybazaar. The corporate launched Records Edge Mission Fund in 2020 to continue this trend of recognizing and investing in online startup companies.
4. Dream11 – $8.0 Billion
Founders: Harsh Jain, Bhavit Sheth
Headquarters: Mumbai
Years To Unicorn: 11
India’s greatest tale sports activities platform, Dream11 changed into as soon as launched in 2008 and likewise occurs to be the first-ever Indian gaming company to turn into a unicorn.
With enormous investments from Steadview Capital, Tencent, and more, Dream11 presently specializes in tale cricket, hockey, soccer, kabaddi, and basketball.
5. Ola – $7.5 Billion
Founders: Bhavish Aggarwal, Ankit Bhati
Headquarters: Bengaluru
Years To Unicorn: 4
Ola is an Indian multinational trot-sharing company, which since 2018 has moved into Australia, Fresh Zealand, and the UK.
The corporate changed into as soon as essentially based on the TaxiforSure platform, obtained in 2015. Between then and 2022, the corporate has dabbled with assorted enterprise models, reminiscent of monetary providers and products, cloud kitchens, and even the ragged vehicles market.
6. Razorpay – $7.5 Billion
Founders: Harshil Mathur, Shashank Kumar
Headquarters: Bengaluru
Years To Unicorn: 6
Formed by a pair of IIT Roorkee alumni, Razorpay is an Indian fintech company that targets to provide price gateway providers and products to a broad fluctuate of e-commerce platforms.
Primarily based in 2014, the founders on the starting up enviornment off to create a crowdfunding platform, sooner than realising that online price in India changed into as soon as severely underdeveloped.
7. Pine Labs – $6.0 Billion
Founders: Lokvir Kapoor, Tarun Upaday, Rajul Garg
Headquarters: Delhi NCR
Years To Unicorn: 22
Any other Indian fintech broad, Pine Labs is surprisingly frail at merely about 24 years. Offering numerous level-of-sale solutions address Razorpay, Pine Labs also supplies numerous loyalty program solutions, and has partnered with numerous global banks, price companies, and over 70,000 outlets all over India.
8. Paytm – $5.9 Billion
Founders: Vijay Shekhar Sharma
Headquarters: Delhi NCR
Years To Unicorn: 5
Noida-essentially based Paytm is no doubt one of India’s greatest fintech companies that changed into as soon as essentially based in 2010 with an initial funding of $2 million.
As of late, it holds a unsuitable merchandise price of over $52 billion, and caters to a broad number of monetary desires for over 350 million users.
9. Pharmeasy- $5.6 Billion
Founders: Dharmil Sheth, Dhaval Shah, Mikhil Innani
Headquarters: Mumbai
Years To Unicorn: 6
One among India’s greatest gamers within the dwelling-provide section for pharmaceuticals and user healthcare merchandise, Pharmeasy changed into as soon as essentially based in 2015 and has since broadened its reach to diagnostic assessments, with a broad valuation boost occuring for the period of the stop of India’s Covid-19 pandemic.
10. Postman – $5.6 Billion
Founders: Abhinav Asthana, Abhijit Kane, Ankit Sobti
Headquarters: Bengaluru
Years To Unicorn: 6
Staring on the necessity for an API making an are attempting out process in India’s rapid growing cloud-essentially based ecosystem, Postman changed into as soon as enviornment up in 2014 to relieve companies enviornment up API executables, crew-essentially based digital workspaces, and toolkits for API monitoring and making an are attempting out.
(Featured Describe Credits: Authorities of India, Zomato)