The year of Indian unicorns
The Indian startup ecosystem is on a roll, registering 41 unicorns in the first 11 months of 2021 — which is over 124 percent more than the number of startups that achieved the coveted billion-dollar valuation status between 2011 and 2020.
The latest to join the elite club is fintech startup Slice, which saw a five-fold jump in its valuation after raising $220 million in its Series B round led by New York-based investment firms Tiger Global and Insight Partners.
B2C unicorns, numbering 27, are nearly double the number of B2B unicorns, suggesting an evolution among the business models of newer unicorns.
The fintech sector saw the highest number of startups turning unicorns (9), followed by 4 enterprisetech, 3 edtech, and 2 cryptocurrency unicorns.
While Five Star Business Finance, which was incorporated in 1984, is the oldest startup to join the coveted club,crossed the $1 billion valuation mark within six months.
In this exclusive conversation with Shradha Sharma, Founder and CEO of YourStory, Bhavna Belani, Founder and CEO of BAGATELLA talks about how she and her team convert paddy wastes to purses, thus helping to reduce the pollution caused by burning it.
Editor’s Pick: Hyperface
Keen on becoming an entrepreneur, Aishwarya Jaishankar started consulting for neobanks and fintech companies and realised there was big potential for banking as service offerings that go beyond just bank integration.
In January this year, she launched Read more., which offers a ready-to-go card platform that manages the entire process of product design to programme management, compliance and risk management, allowing customers to create and launch a card experience.
According to a 2019 study by US-based company, India is the second most sleep-deprived nation after Japan.
Focused on ensuring people quality sleep, Punit Jindal launched Read more.in 2018 in India and the US. It is a D2C brand that offers varieties of premium-grade and highly innovative pillows at affordable prices.
Image Credits - YS Design team
News & Updates
- Electric vehicle (EV) company Ather Energy will be more than doubling its manufacturing capacity with commissioning of its second unit at Hosur, which will take the present output of 120,000 units per annum to over 400,000 units for its scooters – 450x and 450 plus.
- The government has no proposal to recognise Bitcoin as a currency in the country, Finance Minister Nirmala Sitharaman said in a reply to the Lok Sabha. She also informed the House that the government does not collect data on Bitcoin transactions.
- The Supreme Court granted ecommerce giant Amazon two more weeks to appear and argue before the Competition Commission of India (CCI) in a case related to revocation of approval given to the US company for investment transaction with Future Coupons Pvt Ltd (FCPL).
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“A company’s ability to quickly respond to market changes and serve customers with the best products at affordable prices provides it an edge in the market.”