The latest reports suggest that Investments in Indian startups have gained a two-year high during the quarter ending March.
It is said to be the side effects of the ongoing pandemic as it accelerated the digitization of the economy.
As a result, several of these firms have seen a three-fold jump in valuations in their latest funding rounds.
During this time, nine Indian start-ups have been valued at more than $1 billion and becoming the unicorn.
Let’s go through the list of nine startups that turned into unicorns this year.
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1. Infra.Market
This is a tech-enabled one-stop store led by Tiger Global and it provides all categories of construction materials and products.
At the end of February, it raised $100 million in its Series C funding round, taking the valuation of the company to $1 billion.
Now, the start-up’s valuation has gone up to $2.1 billion.
It is the regional language social media platform, which raised $502 million from Tiger Global Management and LightSpeed Ventures.
Sharechat’s valuation has gone up to $2.1 billion with the latest investment. This funding will be utilized for its short video platform, Moj.
3. Five Star Business Finance
On March 26, the non-banking finance company valued a $234 million investment round by a consortium of leading global and Indian investment firms.
Turning into a unicorn, it provides small business and mortgage loans to eligible borrowers.
4. Meesho
On April 5, this Bengaluru-based social commerce start-up raised $300 million (over Rs 2,200 crore) in a new round of funding led by SoftBank Vision Fund 2.
In terms of valuation, it has reached $2.1 billion. Basically, Meesho operates an online sales platform for micro, small and medium businesses in the country.
5. CRED
Basically, this company automates all credit card payments and manages the cards on a single portal.
The fintech start-up CRED had gained unicorn status, raising $215 million in a Series D funding round as informed on April 6.
With this latest gain, its valuation has nearly trebled to $2.2 billion.
6. PharmEasy
On April 7, PharmEasy announced raising $350 million in a Series E funding round led by Prosus Ventures and TPG Growth, enabling it to become a unicorn.
This online pharmacy company, owned by API Holdings has existing investors like Temasek, CDPQ, LGT Lightrock, Eight Roads, and Think Investments.
7. Groww
The Bengaluru-based investment platform Groww announced that it had raised $83 million in a Series D funding round April 7.
With the latest update, its valuation to over $1 billion.
8. Digit Insurance
This three-year-old fintech company was the first Indian start-up to be a unicorn in 2021.
After closing a fresh funding round from existing investors, its present valuation is over $1.9 billion.
9. Digit Insurance
Digit Insurance was the first Indian start-up to be a unicorn in 2021.
The three-year-old fintech company’s present valuation is over $1.9 billion after it closed a fresh funding round from existing investors.
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