10 Most recent companies to join unicorn startups club
Investments in Indian startups have taken off a two-year high in the quarter ending March, much appreciated to the accelerated digitization of the economy because of the COVID-19 widespread. Most of these firms have seen a three-fold bounce in valuations in their most recent funding rounds. These 10 Indian start-ups have been valued at more than $1 billion. In all, they have turned unicorns, this year and half of them just this week.
Here is the list of start-ups that turned unicorns this year:
|Five Star Business Finance||NBFC|
1. Digit Insurance
Digit Insurance was the very first Indian start-up to be on a unicorn list. It's just completed three years in the market. Concurring to the Bengaluru-based fintech firm, sponsored by Fairfax Group — which has operations in over 30 nations — its present valuation is over $1.9 billion after it closed a new funding circular from existing financial investors.
Innovaccer, a Noida and San Francisco-based company, has gotten to be the primary Indian unicorn after raising $105 million in a Series D round driven by Tiger Global Management. After the current round, the health-tech startup is valued at $1.3 billion. By the end of 2021, Innovaccer anticipates having accomplished a compound annual growth rate (CAGR) of 100%, thanks to development in the healthcare service suppliers, payers, and life sciences segments.
3. Five Star Business Finance
The non-banking financial company concluded a $234 million investment round by a consortium of leading global and Indian investment firms on March 26, empowering it to be a unicorn. The company gives small business and mortgage credits to qualified borrowers.
Norwest Venture Partners, Matrix Partners, and private value goliath TPG are among the financial supporters of Five Star, which gives tied-down propels to independent companies.
SoftBank Group Corp.'s Vision Fund led a $300 million round of funding for Bangalore-based social commerce startup Meesho Inc., valuing the company at $2.1 billion. Meesho is an online sales platform for micro, small, and medium businesses in India, plans to utilize the funds to grow its ability pool in all zones, including technology, product, services, and business.
The tech-enabled one-stop solution for different categories of construction materials and products, Infra.Market raised $100 million in its Series C financing round, driven by Tiger Global Management, taking the valuation of the company to $1 billion by the end of February. With the most recent investment, the start-up’s valuation has gone up to $2.1 billion. Earlier, there were talks that Google would also be wagering on the social media platform.
A fintech start-up CRED expressed that it had got unicorn status, raising $215 million in a Series D financing round. With this, the company’s valuation has touched $2.2 billion. The company, which mechanizes all credit card payments and manages the cards on a single portal, is now officially the moment fastest Indian start-up to rise as a unicorn by accomplishing the deed in just 29 months of its launch.
The online pharmacy company, possessed by API Holdings, reported on April 7 that it has raised $350 million in a Series E funding circular led by Prosus Ventures and TPG Growth, empowering it to become a unicorn.
The current investors of pharmeasy are Temasek, CDPQ, LGT Light rock, Eight Roads, and Think Investments also took part in the financing round.
Groww, an investment app, has become the most recent Indian fintech unicorn, having raised $83 million in a Series D round driven by Tiger Global Management. Groww, which has been around for less than five years in the market, claims to have more than 15 million registered users for its service, which permits to invest in stocks, mutual funds, ETFs, IPOs, and gold for free through its site, Android, and iOS apps.
Gupshup is an informal messaging startup that turned unicorn this year after raising $100 million in funding from Tiger Global Management, boosting its valuation ten-fold to $1.4 billion, according to the company.
The newest entries in the unicorn club are Sharechat and Moj. The regional language social media platform raised $502 million from LightSpeed Wanders. Snap Inc, Tiger Global Management and Twitter, and India Remainder moreover took part in the most recent round of funding. With this venture, Sharechat’s valuation has raised up to $2.1 billion. The firm will utilize this funding for its brief video platform, Moj.