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List of Unicorn Startups in India | 2023 Updated

List of Unicorn Startups in India

What is a unicorn startup?

Startups classified as unicorns are privately held firms valued at $1 billion or more. Aileen Lee, the founder of Cowboy Ventures and a venture capitalist, created the phrase “unicorn” in 2013. The mythological status and rarity of unicorns are used as metaphors to convey the uniqueness of these startups.

Technology-driven businesses that disrupt established markets and use cutting-edge business methods to expand quickly are frequently unicorn startups. Usually, they work in industries including e-commerce, fintech, transportation, healthcare, education, and software development. To provide scalable and innovative solutions, these businesses frequently make use of cutting-edge technology like artificial intelligence, machine learning, big data analytics, and cloud computing.

List of Unicorn Startups in India
List of Unicorn Startups in India

Startups in India

Unicorn Startups in India – India has had a stunning increase in the number of unicorn companies in recent years, establishing its status as one of the top global hubs for innovation and entrepreneurship. A privately held business with a value of over $1 billion is called a unicorn startup. This article examines the unicorn startup phenomenon in India, emphasizing some noteworthy success stories and the factors promoting their expansion.

The unicorn boom has seen unparalleled growth in India’s startup scene, with many businesses obtaining unicorn status. These unicorns are found in many different industries, such as e-commerce, fintech, ed-tech, food delivery, and others. Each one is a disruptive force that uses cutting-edge technology and creative business concepts to transform established markets.

List of all Indian Unicorn Startup till 2023 in India

Startup Name

Industry

Founding Year

Unicorn Entry Year

Profit in 2021

Current Valuation

Acquisitions

IPO Status

PhysicsWallah

Edtech

2016

2022

-$0.877 Million

$1.1 Billion

0

Unlisted

LeadSquared

SaaS- CRM

2011

2022

-$1 Million

$1 BIllion

0

Unlisted

ElasticRun

E-commerce Logistics

2015

2022

-$12 Million

$1.5 Billion

0

Unlisted

LEAD School

Edtech

2012

2022

-$15 Million

$1.1 Billion

1

Unlisted

Purplle

E-commerce Personal Care

2012

2022

-$6 Million

$1.1 Billion

1

Unlisted

DealShare

E-commerce

2018

2022

-$8 Million

$1.7 Billion

0

Unlisted

Xpressbees

E-commerce Logistics

2015

2022

-$8 Million

$1.2 Billion

0

Unlisted

Open

Fintech

2017

2022

-$8 Million

$1 BIllion

2

Unlisted

Games24x7

Gaming

2006

2022

$13 Million

$2.5 Billion

0

Unlisted

Amagi

Media, Advertising

2008

2022

$2 Million

$1 BIllion

0

Unlisted

Fractal Analytics

SaaS- Analytics

2000

2022

NA

$1 BIllion

7

Unlisted

Darwinbox

SaaS- HR

2015

2022

NA

$1.07 BIllion

0

Unlisted

Livspace

E-commerce Interior Design

2014

2022

NA

$1.2 Billion

4

Unlisted

Uniphore

SaaS- Conversational Automation

2008

2022

NA

$2.5 Billion

3

Unlisted

Hasura

SaaS- Programming Tools

2017

2022

NA

$1 BIllion

0

Unlisted

Yubi (CredAvenue)

Fintech

2017

2022

NA

$1.3 Billion

2

Unlisted

CommerceIQ

E-commerce Management Platform

2012

2022

NA

$1 BIllion

0

Unlisted

Oxyzo

Fintech

2016

2022

NA

$1 BIllion

0

Unlisted

OneCard

Fintech

2018

2022

NA

$1.4 Billion

0

Unlisted

Moglix

B2B E-commerce

2015

2021

-$10 Million

$2.6 Billion

1

Unlisted

NoBroker

PropTech

2014

2021

-$12 Million

$1 BIllion

1

Unlisted

MobiKwik

Fintech

2009

2021

-$13 Million

$1 BIllion

1

Registered

Spinny

Automotive

2015

2021

-$13 Million

$1.75 Billion

3

Unlisted

MPL

ESports

2018

2021

-$16 Million

$2.3 Billion

3

Unlisted

Acko

Insurtech

2016

2021

-$16 Million

$1.1 Billion

1

Unlisted

ShareChat

Social Media

2015

2021

-$183 Million

$5 Billion

6

Unlisted

Eruditus

Edtech

2010

2021

-$242 Million

$3.2 Billion

1

Unlisted

upGrad

Edtech

2015

2021

-$26 Million

$2.25 Billion

11

Unlisted

Apna

Marketplace- Employment

2019

2021

-$3 Million

$1.1 Billion

0

Unlisted

Urban Company

Home Services

2014

2021

-$31 Million

$2.1 Billion

3

Unlisted

BharatPe

Fintech Payments

2018

2021

-$34 Million

$2.85 Billion

1

Unlisted

CarDekho

E-commerce Automotives

2007

2021

-$42 Million

$1.2 Billion

3

Unlisted

Licious

E-commerce Meat Products

2015

2021

-$46 Million

$1.3 Billion

0

Unlisted

Zetwerk

Marketplace- Consumer goods

2018

2021

-$5 Million

$2.5 Billion

3

Unlisted

Meesho

E-commerce

2015

2021

-$62 Million

$4.9 Billion

0

Unlisted

Blinkit (ex-Grofers)

E-commerce- Groceries

2013

2021

-$69 Million

$0.568 Billion

2

Unlisted

Pristyn Care

Healthtech

2018

2021

-$7 Million

$1.4 Billion

1

Unlisted

Vedantu

Edtech

2011

2021

-$75 Million

$1 BIllion

2

Unlisted

Upstox

Fintech

2010

2021

-$8 Million

$3.4 Billion

0

Unlisted

Slice

Fintech

2016

2021

-$8.9 Million

$1.4 Billion

1

Unlisted

CRED

Financial Technology

2018

2021

-$80 Million

$6.4 Billion

2

Unlisted

CureFit

Healthcare

2016

2021

-$83 Million

$1.5 Billion

14

Unlisted

Mamaearth

E-commerce Personal Care

2016

2021

$24 Million

$1.07 Billion

4

Unlisted

Infra.Market

B2B E-commerce

2016

2021

$3 Million

$2.5 Billion

2

Unlisted

Five Star Business Finance

Financial Services

1984

2021

$44 Million

$1.4 Billion

0

Registered

OfBusiness

Building Materials

2015

2021

$6 Million

$5 Billion

1

Unlisted

CoinSwitch Kuber

Cryptocurrencies

2017

2021

$8 Million

$1.9 Billion

0

Unlisted

CoinDCX

Cryptocurrency Exchange

2018

2021

NA

$2.15 Billion

0

Unlisted

BlackBuck

Logistics

2015

2021

NA

$1.02 Billion

0

Unlisted

Droom

Marketplace- Automotives

2014

2021

NA

$1.2 Billion

1

Registered

PharmEasy

Online Pharmacy

2015

2021

NA

$5.6 Billion

3

Registered

MyGlamm

Personal Care Marketplace

2015

2021

NA

$1.2 Billion

5

Unlisted

Digit Insurance

Insurance

2016

2021

NA

$4 Billion

1

Unlisted

Innovaccer

Healthcare

2014

2021

NA

$3.2 Billion

0

Unlisted

Groww

Fintech

2017

2021

NA

$3 Billion

1

Unlisted

Gupshup

Software

2004

2021

NA

$1.4 Billion

5

Unlisted

Chargebee

Financial Services

2011

2021

NA

$3.5 Billion

3

Unlisted

Zeta

Fintech

2015

2021

NA

$1.5 Billion

0

Unlisted

BrowserStack

Cloud Infrastructure and Software

2011

2021

NA

$4 Billion

3

Unlisted

Mohalla Tech (Moj)

Software

2015

2021

NA

$5 Billion

6

Unlisted

Matic Network / Polygon

Blockchain

2018

2021

NA

$10 Billion

2

Unlisted

MindTickle

Saas- Enterprise Software

2011

2021

NA

$1.2 Billion

0

Unlisted

Rebel Foods

E-commerce Food Delivery

2011

2021

NA

$1.4 Billion

1

Unlisted

Mensa

Financial Services

2021

2021

NA

$1.2 Billion

16

Unlisted

GlobalBees

E-commerce Retail

2021

2021

NA

$1.1 Billion

11

Unlisted

Dailyhunt

Social News

2007

2020

-$101 Million

$5 Billion

4

Unlisted

Unacademy

Edtech

2015

2020

-$192 Million

$3.4 Billion

12

Unlisted

Cars24

B2C E-commerce

2015

2020

-$28 Million

$3.3 Billion

0

Unlisted

Glance, Inmobi

Mobile Technology

2019

2020

-$9 Million

$1.8 Billion

4

Unlisted

RazorPay

Fintech

2014

2020

$0.875 Million

$7.5 Billion

5

Unlisted

Zerodha

Stockbroker

2010

2020

$140 Million

$2 Billion

0

Unlisted

PhonePe

Fintech Payments

2015

2020

$217 Million

$5.5 Billion

5

Unlisted

FirstCry

E-commerce

2010

2020

$26 Million

$2 Billion

2

Unlisted

Nykaa

E-commerce

2012

2020

$7 Million

$8.3 Billion

5

Listed

Pine Labs

Fintech

1998

2020

NA

$5 Billion

5

Unlisted

Highradius

Fintech

2006

2020

NA

$3.1 Billion

0

Unlisted

Verse Innovation

Content Technology

2007

2020

NA

$5 Billion

3

Unlisted

Zenoti

Saas- Spa and Salon Services

2010

2020

NA

$1.5 Billion

1

Unlisted

Postman

Saas- API Development and Testing

2014

2020

NA

$5.6 Billion

0

Unlisted

Delhivery

E-commerce Logistics Services

2011

2019

-$14 Million

$4 Billion

3

Listed

Icertis

Saas- Contract Management

2009

2019

-$2 Million

$5 Billion

0

Unlisted

Ola Electric

Automotive

2017

2019

-$24 Million

$5 Billion

1

Unlisted

Druva

Saas- Data Management

2008

2019

-$4 Million

$2 Billion

3

Unlisted

BigBasket

E-commerce- Groceries

2011

2019

-$51 Million

$2.7 Billion

6

Unlisted

Rivigo

Logistics

2014

2019

-$67 Million

$1.09 Billion

0

Unlisted

Lenskart

E-commerce- Eyewear

2010

2019

$3 Million

$4.3 Billion

2

Unlisted

Dream11

Fantasy Sports

2008

2019

$41 Million

$8 Billion

2

Unlisted

CitiusTech

Healthcare Technology

2005

2019

NA

$2.4 Billion

2

Unlisted

Freshworks

SaaS - CRM

2010

2018

-$188 Million

$3.5 Billion

13

Listed

Udaan

E-commerce

2016

2018

-$310 Million

$3.1 Billion

0

Unlisted

OYO Rooms

Hospitality

2013

2018

-$495 Million

$9 Billion

8

Registered

Paytm Mall

E-commerce

2017

2018

-$62 Million

$0.013 Billion

0

Unlisted

Swiggy

Foodtech

2014

2018

$203 Million

$10.7 Billion

5

Unlisted

BYJU'S

Edtech

2011

2018

$6 Million

$22 Billion

19

Unlisted

Policybazaar

Insurance company

2008

2018

NA

$2.4 Billion

0

Listed

Billdesk

Fintech

2000

2018

NA

$4.7 Billion

0

Unlisted

ReNew Power

Renewable Energy

2011

2017

NA

$8 Billion

5

Listed

OLA

Transportation

2010

2015

-$105 Million

$7.3 Billion

8

Unlisted

Zomato

Foodtech

2008

2015

-$153 Million

$5.4 Billion

15

Listed

Paytm

E-commerce Finance

2010

2015

-$214 Million

$16 Billion

12

Listed

Mu Sigma

SaaS- Analytics

2004

2013

NA

$1.5 Billion

1

Unlisted

Flipkart

E-commerce

2007

2012

-$307 Million

$37.6 Billion

18

Unlisted

InMobi

Adtech

2007

2011

-$9 Million

$1 Billion

10

Unlisted

MakeMyTrip

Online Travel

2000

2010

-$56 Million

$2.52 Billion

9

Flipkart, a massive e-commerce company that revolutionized online shopping in the nation, is one of the well-known unicorn companies in that country.

Additionally, benevolent government programs and efforts like Startup India and Digital India have developed a favorable business environment. These initiatives lower entrance barriers and promote an innovative culture by providing tax advantages, financial support, and shortened regulatory procedures.

Growth in investor confidence is another factor contributing to the rise of unicorn companies in India. Indian startups have attracted the attention of both domestic and foreign investors, who are aware of their potential for rapid expansion. These unicorns are actively receiving investments from venture capital firms, private equity funds, and major international IT companies, who are giving them the money they need for growth and scaling.

While the COVID-19 epidemic presented difficulties for organizations everywhere, it also served as a drive for innovation and digital transformation. Indian unicorn startups adapted to the shifting market dynamics and seized new possibilities with lightning speed. As consumers turned to online shopping and contactless transactions, e-commerce and digital payment platforms saw substantial growth. Online learning solutions are in high demand, according to ed-tech companies. The unicorn firms’ tenacity and adaptability strengthened their market position and piqued investors’ interest.

Despite India’s increase in unicorn businesses, there are still obstacles to overcome. In congested industries, competition is severe as startups fight for market dominance. To assure success, companies must also deal with scaling challenges, handle legal complexities, and create sustainable revenue models.

Why These startups are successful where many fail?

Unicorn startups have achieved success for several key reasons:

1. Innovative and Disruptive Ideas: Unicorn startups often bring forth innovative and disruptive ideas that challenge traditional industries. They identify gaps in the market, address unmet needs, and offer novel solutions that resonate with consumers. By introducing new technologies, business models, or approaches, these startups can gain a competitive edge and capture significant market share.

2. Scalability and Global Reach: Unicorn startups are typically built on scalable business models that can quickly expand their operations and reach a global audience. Leveraging digital platforms, cloud computing, and advanced technologies, they can rapidly scale their products or services, expanding their customer base and increasing revenue potential.

3. Customer-Centric Approach: Successful unicorns prioritize delivering exceptional customer experiences. They focus on understanding customer pain points and designing products or services that address those needs effectively. By putting the customer at the center of their strategy, these startups can build strong brand loyalty and create a competitive advantage in the market.

4. Agility and Adaptability: Unicorn startups are often agile and adaptable, allowing them to navigate rapidly changing market dynamics. They can quickly pivot their strategies, embrace new technologies, and capitalize on emerging opportunities. This flexibility enables them to stay ahead of the competition and respond effectively to evolving customer demands.

5. Talent and Culture: Building a strong team with diverse skill sets and a shared vision is crucial for the success of unicorn startups. They attract top talent by offering exciting opportunities, a dynamic work environment, and the chance to make a significant impact. These companies foster a culture of innovation, collaboration, and continuous learning, creating an environment where employees are motivated to perform at their best.

6. Investor Confidence and Funding: Unicorn startups often attract substantial investments from venture capital firms, private equity investors, and even corporate investors. The infusion of capital allows them to fuel their growth, expand their operations, invest in research and development, and acquire or partner with complementary businesses. Investor confidence in the potential for significant returns drives further funding and supports the growth trajectory of these startups.

7. Favorable Ecosystem and Supportive Government Policies: A favorable ecosystem, including supportive government policies, regulatory frameworks, and infrastructure, plays a crucial role in the success of unicorn startups. Policies promoting entrepreneurship, ease of doing business, access to capital, and initiatives to foster innovation create an environment conducive to startup growth and success.

8. Network Effects: Many successful unicorn startups benefit from network effects, where the value of their products or services increases as more users or participants join the platform. This can create barriers to entry for potential competitors and reinforce the dominance of these startups in their respective markets.

It’s important to note that while these factors contribute to the success of unicorn startups, each company’s journey is unique, and success is not guaranteed. The competitive landscape, market conditions, execution strategies, and the ability to adapt to challenges are critical factors that determine their ultimate success or failure.

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