India has emerged as a hotbed for innovation and entrepreneurship, and the rise of unicorn startups is a testament to this dynamic ecosystem. A unicorn startup in India is a privately held company valued at over $1 billion, and India has witnessed a remarkable surge in these transformative enterprises. In recent years, the country has given birth to numerous unicorns across diverse sectors, from e-commerce and fintech to healthcare and education.
This burgeoning landscape has not only attracted global attention but has also redefined the way business is done in India. The Indian Startup Ecosystem reached a critical milestone in May 2022 when there were 100 unicorns, valued at a combined $332.7 billion and placing third globally in terms of unicorn count. However, there has been a noticeable change as of the first quarter of 2023. An analysis by the market intelligence platform Tracxn found that during January to March 2023, no new unicorn startup in India appeared.
In comparison to the same period in 2022, when 14 unicorns were born, this is a huge change. According to the research, this decrease in investment is largely attributable to a sharp dip in late-stage capital, which fell by 79 percent in Q1 2023 to $1.8 billion from Q1 2022. In this article, we will discuss about the top 50 unicorn startup in India.
List of Top 50 Unicorn Startup in India
In this article, we will explore the top 50 unicorn startup in India, delving into their innovative solutions, their impact on the economy, and the exciting potential they hold for the future.
1. Zepto
Sector: Quick commerce
Entry Valuation: 1.4$ billion
Entry: Aug-2023
- Zepto, a unicorn startup in India, is a hyperlocal delivery startup founded in 2020 and is based in Bengaluru.
- The company aims to provide quick and efficient delivery services for groceries, essentials, and other daily-use products.
- Zepto has gained popularity by leveraging a network of local stores and delivery partners to fulfill orders swiftly, catering to the growing demand for online grocery shopping, especially during the COVID-19 pandemic.
2. PhysicsWallah
Sector: Edtech
Entry Valuation: 1.1$ billion
Entry: Jun-2022
- PhysicsWallah is an edtech platform founded by Alakh Pandey.
- It specializes in teaching physics to students preparing for various competitive exams, including those for engineering and medical courses.
- The platform offers video lectures, study materials, and online courses that have gained popularity due to their accessibility and affordability.
3. LeadSquared
Sector: SaaS
Entry Valuation: 1$ billion
Entry: Jun-2022
- LeadSquared, another unicorn startup in India, is a SaaS-based customer relationship management (CRM) and marketing automation platform.
- It helps businesses manage leads, automate marketing processes, and enhance customer engagement.
- LeadSquared is used across various industries, including real estate, education, healthcare, and more, to streamline their sales and marketing efforts.
4. ElasticRun
Sector: Logistics Services
Entry Valuation: 1.4$ billion
Entry: Feb-2022
- ElasticRun is a technology-driven logistics and distribution startup.
- It connects businesses with a vast network of local stores and transportation partners to optimize last-mile deliveries.
- The company provides cost-effective and efficient logistics solutions for e-commerce companies and other businesses.
5. LEAD School
Sector: Edtech
Entry Valuation: 1.1$ billion
Entry: Jan-2022
- LEAD School, another unicorn startup in India, is an edtech company that offers an integrated school management system.
- Their platform includes features for curriculum planning, content delivery, assessments, and administrative tasks, making it easier for schools to manage their operations effectively.
6. Purplle
Sector: E-Commerce
Entry Valuation: 1.1$ billion
Entry: Jun-2022
- Purplle is an e-commerce platform specializing in beauty and personal care products.
- It offers a wide range of cosmetics, skincare, haircare, and grooming products from various brands.
- Purplle has gained popularity for its vast product selection and competitive pricing.
7. DealShare
Sector: E-Commerce
Entry Valuation: 1.62$ billion
Entry: Jan-2022
- DealShare, another unicorn startup in India, is an e-commerce platform that focuses on providing deals and discounts on daily essentials.
- The platform operates on a group-buying model, where consumers can team up with friends and family to avail of discounts on groceries, household items, and more.
- DealShare primarily targets Tier 2 and Tier 3 cities in India.
8. XpressBees Logistics
Sector: Logistics Services
Entry Valuation: 1.2$ billion
Entry: Feb-2022
- XpressBees is a logistics and supply chain company specializing in e-commerce deliveries.
- The company partners with various e-commerce platforms to provide last-mile delivery services, helping businesses reach their customers quickly and efficiently.
9. Open Financial Technologies
Sector: Fintech
Entry Valuation: 1$ billion
Entry: May-2022
- Open Financial Technologies, another unicorn startup in India, is a fintech company that offers banking and payment solutions for businesses.
- Their platform provides tools and APIs for businesses to manage their finances, payments, and banking services seamlessly, helping them streamline their financial operations.
10. Games24x7
Sector: Gaming
Entry Valuation: 2.5$ billion
Entry: Mar-2022
- Games24x7 is a gaming company known for its online card games.
- The company offers popular skill-based games like RummyCircle and My11Circle, which have garnered a significant user base in India.
- Games24x7 aims to provide engaging and rewarding gaming experiences to users.
11. Amagi
Sector: SaaS
Entry Valuation: 1$ billion
Entry: Mar-2022
- Amagi, founded in 2008, is a technology company that has made significant strides in the field of cloud-based broadcasting and targeted advertising solutions.
- The company’s cloud-based platform allows television networks and streaming services to manage and deliver content and advertisements more efficiently. This approach significantly reduces the need for traditional broadcasting infrastructure.
- Amagi’s services are known for their flexibility, scalability, and cost-effectiveness, making them a popular choice among broadcasters and advertisers looking to reach their target audience more effectively.
12. Molbio Diagnostics
Sector: Healthtech
Entry Valuation: 1.53$ billion
Entry: Sep-2022
- Molbio Diagnostics, founded in 2009, is a biotechnology company specializing in molecular diagnostics.
- The company is renowned for its innovative diagnostic solutions, with a particular focus on diseases like tuberculosis and COVID-19.
- Molbio’s TrueNat and Truelab platforms enable rapid and accurate molecular testing, making them invaluable in the fight against infectious diseases.
13. Shiprocket
Sector: Aggregator
Entry Valuation: 1.23$ billion
Entry: Aug-2022
- Shiprocket, another unicorn startup in India, founded in 2017, is a technology-driven logistics and supply chain company catering primarily to the e-commerce sector.
- It offers an end-to-end solution for businesses looking to streamline their shipping and delivery operations.
- Shiprocket’s platform provides access to a network of logistics partners, real-time tracking, and a range of shipping solutions to help online sellers manage their shipping needs efficiently.
14. OneCard
Sector: Fintech
Entry Valuation: 1.3$ billion
Entry: Jul-2022
- OneCard, founded in 2019, is a fintech startup that focuses on providing a modern credit card experience through its mobile app.
- The company offers a credit card with digital-first features, including instant issuance, customizable credit limits, rewards programs, and comprehensive control over spending through its app.
15. Urban Company
Sector: Marketplace
Entry Valuation: 2.1$ billion
Entry: Apr-2021
- Urban Company, another unicorn startup in India, formerly known as UrbanClap, is an Indian tech-based home services marketplace that connects consumers with a wide range of service professionals.
- Founded in 2014 by Abhiraj Bhal, Varun Khaitan, and Raghav Chandra, Urban Company has become a prominent player in India’s gig economy and service industry.
- Urban Company offers a diverse array of home services across various categories, including beauty and wellness (such as salon services and spa treatments), home cleaning, plumbing, electrical repairs, carpentry, appliance repair, pest control, painting, and more.
16. Oxyzo Financial Services
Sector: Fintech
Entry Valuation: 1$ billion
Entry: Mar-2022
- Oxyzo Financial Services, founded in 2020, is a fintech company that aims to simplify personal finance for individuals.
- The company provides personal loans, credit cards, and other financial products designed to cater to various financial needs.
- Oxyzo’s digital platform offers convenience and accessibility, making it easier for users to manage their financial requirements.
17. CredAvenue
Sector: Marketplace
Entry Valuation: 1.3$ billion
Entry: Mar-2022
- CredAvenue, another unicorn startup in India, founded in 2020, operates as a digital platform connecting lenders and borrowers in the Indian debt market.
- It serves as a marketplace where businesses can access various types of loans and credit facilities, helping them secure the financing they need to grow and expand.
18. Hasura
Sector: SaaS
Entry Valuation: 1$ billion
Entry: Feb-2022
- Hasura, founded in 2017, is a software development company specializing in GraphQL API technology.
- Developers use Hasura to build real-time and scalable applications with ease. GraphQL simplifies data querying and manipulation, making it a powerful tool for creating modern web and mobile apps.
19. Uniphore Software Systems
Sector: Logistics Services
Entry Valuation: 2.5$ billion
Entry: Feb-2022
- Uniphore Software Systems, another unicorn startup in India, founded in 2008, is a technology company that focuses on conversational AI and automation.
- The company’s solutions leverage speech recognition and natural language processing to enhance customer service and engagement. They help businesses automate and improve their customer interactions through voice and text-based interactions.
20. LivSpace
Sector: Interior Design
Entry Valuation: 1.2$ billion
Entry: Feb-2022
- LivSpace, founded in 2014, is an online interior design and home renovation platform.
- It offers a one-stop solution for homeowners looking to design, furnish, and renovate their homes. Customers can connect with interior designers, explore design ideas, and purchase home furnishings and decor through the platform.
- LivSpace aims to make the interior design and home renovation process more accessible and convenient for homeowners.
21. Polygon
Sector: Web3 Infrastructure
Entry Valuation: 10$ billion
Entry: Feb-2022
- Polygon, formerly known as Matic Network, is a blockchain scaling solution that aims to improve the scalability and usability of blockchain networks, particularly Ethereum.
- It provides a Layer 2 scaling solution that enables faster and cheaper transactions on the Ethereum network.
- Polygon has gained traction among developers and decentralized application (DApp) creators for its ability to reduce transaction costs and improve the overall user experience on blockchain platforms.
22. DarwinBox
Sector: SaaS
Entry Valuation: 1$ billion
Entry: Jan-2022
- DarwinBox, another unicorn startup in India, is a modern Human Resources Management System (HRMS) platform designed to streamline HR operations for businesses.
- The platform offers a range of HR solutions, including talent management, employee engagement, payroll processing, and workforce analytics.
- DarwinBox’s cloud-based software helps organizations automate HR processes and enhance employee experiences.
23. Fractal
Sector: SaaS
Entry Valuation: 1$ billion
Entry: Jan-2022
- Fractal, another unicorn startup in India, is a global analytics and artificial intelligence company that specializes in providing advanced analytics solutions to businesses.
- They use AI and machine learning to help organizations extract valuable insights from data, improve decision-making, and optimize various business processes.
- Fractal serves a diverse set of industries, including financial services, healthcare, and retail, by transforming data into actionable intelligence.
24. GlobalBees
Sector: Aggregator
Entry Valuation: 1.1$ billion
Entry: Dec-2021
- GlobalBees, formerly known as FirstCry, is an e-commerce enabler and brand aggregator.
- The company acquires and scales e-commerce brands by providing resources, technology, and expertise.
- GlobalBees plays a pivotal role in the rapidly evolving e-commerce ecosystem in India, helping brands expand their online presence and reach a wider customer base.
25. Mamaearth
Sector: D2C
Entry Valuation: 1.07$ billion
Entry: Dec-2021
- Mamaearth, another unicorn startup in India, is a skincare and personal care brand that prioritizes natural and toxin-free products.
- The company offers a wide range of products for babies, children, and adults, including skincare, haircare, and hygiene products.
- Mamaearth is known for its commitment to environmental sustainability and its focus on delivering safe and eco-friendly products to consumers.
26. Pristyn Care
Sector: Healthtech
Entry Valuation: 1.4$ billion
Entry: Dec-2021
- Pristyn Care, another unicorn startup in India, is a healthcare startup that specializes in providing surgical and medical treatments.
- The company offers a variety of medical procedures and surgeries, including those related to ENT, gynecology, and general surgery.
- Pristyn Care emphasizes patient convenience, quick recovery, and advanced medical care to improve the healthcare experience.
27. Slice
Sector: Fintech
Entry Valuation: 1$ billion
Entry: Nov-2021
- Slice, another unicorn startup in India, is a fintech company founded in 2019 that offers a credit card designed for young consumers.
- The digital-first credit card experience includes instant issuance, no annual fees, and cashback rewards.
- Slice aims to cater to the financial needs of young professionals and students, making credit more accessible and user-friendly.
28. Upstox
Sector: Fintech
Entry Valuation: 3.4$ billion
Entry: Nov-2021
- Upstox, another unicorn startup in India, is an online discount brokerage firm that provides a platform for individuals to invest in stocks, commodities, and derivatives.
- It offers a seamless and cost-effective trading experience with advanced trading tools.
- Upstox has gained popularity among retail investors for its low brokerage fees and easy-to-use trading platform.
29. Spinny
Sector: Marketplace
Entry Valuation: 1.5$ billion
Entry: Nov-2021
- Spinny, another unicorn startup in India, is an online platform for buying and selling used cars in India.
- It offers a transparent and convenient car buying experience, including features like doorstep test drives and online vehicle inspections.
- Spinny aims to disrupt the traditional used car market in India by providing a trustworthy and tech-driven platform for customers.
30. NoBroker
Sector: Proptech
Entry Valuation: 1$ billion
Entry: Nov-2021
- NoBroker is a proptech startup that simplifies the process of renting or buying properties without the involvement of traditional real estate brokers.
- The platform connects property owners and tenants/buyers directly, eliminating brokerage fees.
- NoBroker has gained popularity for its cost-effective and user-friendly approach to property transactions.
31. Mensa Brands
Sector: Aggregator
Entry Valuation: 1.2$ billion
Entry: Nov-2021
- Mensa Brands, founded in 2021, operates as an e-commerce conglomerate with a focus on acquiring and growing digitally native consumer brands.
- The company targets brands that have already established themselves online and provides them with resources, expertise, and support to scale their operations.
- Mensa Brands aims to build a diverse portfolio of successful e-commerce brands across various categories.
32. CureFit
Sector: Healthtech
Entry Valuation: 1.5$ billion
Entry: Nov-2021
- CureFit, founded in 2016, is a health and fitness platform that offers a comprehensive approach to wellness.
- The platform provides services such as Cult.fit (fitness classes), Eat.fit (healthy meals), Mind.fit (mental wellness), and Care.fit (healthcare consultations).
- CureFit’s integrated approach promotes physical and mental well-being, making wellness more accessible to users.
33. The Good Glamm Group
Sector: D2C
Entry Valuation: 1.2$ billion
Entry: Nov-2021
- The Good Glamm Group, founded in 2018, is a beauty and personal care conglomerate that owns and operates multiple beauty brands.
- Some of its notable brands include Sugar Cosmetics, which specializes in makeup products, and Kay Beauty, which focuses on cosmetics.
- The company is dedicated to creating high-quality beauty products and expanding its presence in the competitive beauty industry.
34. Acko
Sector: Fintech
Entry Valuation: 1.1$ billion
Entry: Oct-2021
- Acko, founded in 2016, is a digital insurance technology company that aims to simplify the insurance experience.
- It offers a range of insurance products, including auto insurance, health insurance, and more.
- Acko leverages technology to streamline the insurance buying process and enhance customer convenience.
35. Cardekho
Sector: Marketplace
Entry Valuation: 1.2$ billion
Entry: Oct-2021
- Cardekho, founded in 2008, is a leading online platform for buying and selling cars in India.
- The platform offers a vast database of new and used cars, expert reviews, and comparison tools.
- Cardekho’s user-friendly interface and comprehensive information help consumers make informed decisions when purchasing a vehicle.
36. Rebel Foods
Sector: Foodtech
Entry Valuation: 1.4$ billion
Entry: Oct-2021
- Rebel Foods, formerly known as Faasos, was founded in 2011 and has grown to become a prominent player in the foodtech industry.
- The company operates a network of cloud kitchens and offers a wide range of food brands serving various cuisines.
- Rebel Foods is known for its innovative approach to food delivery and its ability to adapt to changing consumer preferences.
37. CoinSwitch
Sector: Cryptocurrency Exchange
Entry Valuation: 1.9$ billion
Entry: Oct-2021
- CoinSwitch, another unicorn startup in India, founded in 2017, is a cryptocurrency exchange aggregator that simplifies cryptocurrency trading.
- The platform allows users to compare and trade cryptocurrencies across various exchanges, providing a seamless experience.
- CoinSwitch has become a popular choice for cryptocurrency enthusiasts and traders.
38. Licious
Sector: D2C
Entry Valuation: 1$ billion
Entry: Oct-2021
- Licious, founded in 2015, is a foodtech startup that specializes in delivering fresh and high-quality meat and seafood.
- The company maintains a strong focus on quality control throughout its supply chain, ensuring that customers receive safe and fresh products.
- Licious has gained trust among consumers for its commitment to food safety and transparency.
39. Vedantu
Sector: Edtech
Entry Valuation: 1$ billion
Entry: Sep-2021
- Vedantu, another unicorn startup in India, founded in 2014, is an edtech platform that offers live online tutoring and personalized learning solutions.
- The platform connects students with experienced teachers for interactive online classes.
- Vedantu’s mission is to provide accessible and effective education to learners, including those preparing for competitive exams.
40. Apna.co
Sector: Marketplace
Entry Valuation: 1.1$ billion
Entry: Sep-2021
- Apna.co, founded in 2019, is a professional networking platform designed for blue and gray-collar workers.
- It connects job seekers with employment opportunities in various sectors, including retail, hospitality, and construction.
- Apna.co empowers job seekers by helping them find suitable jobs, access upskilling resources, and connect with employers, fostering career growth within the informal job sector.
41. Mobile Premier League
Sector: Gaming
Entry Valuation: 2.3$ billion
Entry: Sep-2021
- MPL, another unicorn startup in India, founded in 2018, is a mobile gaming platform that offers a variety of skill-based games and eSports competitions.
- It provides users with the opportunity to play and win real cash prizes through games like cricket, chess, and more.
- MPL has gained popularity as a leading player in the Indian online gaming industry.
42. Zetwerk
Sector: Marketplace
Entry Valuation: 1$ billion
Entry: Aug-2021
- Zetwerk, founded in 2018, is a B2B platform that connects manufacturing businesses with suppliers for custom manufacturing solutions.
- The platform streamlines the procurement and production process, helping businesses find reliable suppliers for their manufacturing needs.
- Zetwerk serves industries such as engineering, construction, and automotive.
43. Blinkit
Sector: E-Commerce
Entry Valuation: 1$ billion
Entry: Aug-2021
- Blinkit, another unicorn startup in India, formerly known as Grofers, is an online grocery delivery platform.
- It allows users to order groceries and other household essentials online and have them delivered to their doorstep.
- The platform offers a wide range of products and has become especially relevant during the COVID-19 pandemic with the surge in demand for online grocery shopping.
44. Eruditus
Sector: Edtech
Entry Valuation: 3.2$ billion
Entry: Aug-2021
- Eruditus, another unicorn startup in India, founded in 2010, is a prominent edtech company specializing in executive education.
- The company collaborates with top universities and institutions to offer high-quality executive education programs to working professionals.
- Eruditus empowers individuals to advance their careers and acquire new skills through online education.
45. CoinDCX
Sector: Cryptocurrency Exchange
Entry Valuation: 1.1$ billion
Entry: Aug-2021
- CoinDCX, established in 2018, is one of India’s leading cryptocurrency exchanges.
- The platform allows users to buy, sell, and trade a wide variety of cryptocurrencies, including Bitcoin, Ethereum, and more.
- CoinDCX has played a pivotal role in promoting cryptocurrency adoption and trading in India.
46. upGrad
Sector: Edtech
Entry Valuation: 1.2$ billion
Entry: Aug-2021
- upGrad, another unicorn startup in India, founded in 2015, is one of India’s largest online higher education platforms.
- It offers a diverse range of online courses and degree programs in partnership with renowned universities and institutions.
- upGrad focuses on upskilling and providing career advancement opportunities to working professionals and students.
47. MindTickle
Sector: SaaS
Entry Valuation: 1.2$ billion
Entry: Aug-2021
- MindTickle, established in 2011, operates as a sales readiness and enablement platform.
- The platform assists organizations in training and preparing their sales teams with interactive content, assessments, and analytics.
- MindTickle aims to enhance sales team performance and effectiveness through continuous learning.
48. BharatPe
Sector: Fintech
Entry Valuation: 2.8$ billion
Entry: Aug-2021
- BharatPe, another unicorn startup in India, founded in 2018, is a fintech company catering to the payment and financial needs of small businesses.
- The company offers QR code-based payment solutions, lending services, and credit card offerings tailored for small merchants.
- BharatPe empowers small businesses by providing access to digital payment solutions and credit facilities.
49. OfBusiness
Sector: NBFC
Entry Valuation: 1.5$ billion
Entry: Jul-2021
- OfBusiness, established in 2015, is a technology-driven platform serving the procurement and financing requirements of small and medium-sized enterprises (SMEs).
- It offers a wide array of industrial and manufacturing products while also providing supply chain financing solutions.
- OfBusiness strives to support SMEs in their growth journey by offering efficient procurement and financing options.
50. BlackBuck
Sector: Logistics Services
Entry Valuation: 1$ billion
Entry: Jul-2021
- BlackBuck, another unicorn startup in India, founded in 2015, is a logistics and trucking platform that connects shippers and truckers.
- The platform offers services such as freight matching, fleet management, and logistics solutions, streamlining the movement of goods across the country.
- BlackBuck plays a crucial role in digitizing and optimizing the logistics and transportation sector in India.
Conclusion
The ascent of top 50 unicorn startup in India is a story of vision, resilience, and adaptability in the face of challenges. These companies have not only disrupted traditional industries but have also showcased the immense talent and entrepreneurial spirit that exists within the country. As they continue to grow and evolve, they are not just symbols of success but beacons of hope for aspiring entrepreneurs and investors worldwide.
Unicorn startup in India ecosystem is a testament to the transformative power of technology and innovation, and it will be fascinating to witness how these unicorns shape the future of India’s economy and its standing in the global business arena. With their unwavering commitment to solving real-world problems and driving innovation, these unicorns are poised to lead India into a new era of prosperity and progress.
Read Also:
- How can India’s IT sector retain women in the workforce? – Newsblare
- Zepto raises $200 million to become the first unicorn of 2023 – Newsblare
- The Abu Dhabi Investment Authority invests $500 million in Lenskart, the eyewear unicorn – Newsblare
- How this Youtube channel becomes a billion dollar company – India’s first profitable unicorn startup – Newsblare
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