Meet India’s newest unicorn

By Team YS|30th Mar 2021
Three months into 2021, and the Indian startup ecosystem has already added three new companies to the coveted $1 billion valuation club.
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Three months into 2021, and the Indian startup ecosystem has already added three new companies to the coveted $1 billion valuation club.


Five Star Finance, a lender to small businesses, became the latest to enter the unicorn club after it raised $234 million for a valuation of $1.4 billion. The round was led by existing investors Sequoia Capital India, with participation from Norwest Venture Partners, as well as new investors, led by KKR with participation from TVS Capital.


The NBFC joins insurtech startup Digit Insurance and SaaS startup InnovAccer as the three entries to the unicorn club from the Indian startup ecosystem in 2021 so far.


Studies indicate that at least 12 more startups are expected to join the unicorn club in 2021, taking the total count of 50 from the current 38. In 2020, even with COVID wreaking havoc on the economy, 11 Indian startups attained unicorn status. 


Experts believe that the Indian startup ecosystem will be home to 100 unicorns by the year 2025. And, looking at the current rate at which startups are entering the unicorn club, it seems to be well on track to achieve this milestone.

unicorn

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Before you go, stay inspired with… 

Byju's Founder & CEO Byju Raveendran

Byju's Founder and CEO Byju Raveendran

“The real fun is not in creating a multibillion-dollar company but in changing the way millions think and learn.” 

Byju Raveendran, CEO and Co-founder, BYJU’S



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