The Indian startup sector is buzzing like nothing else. In recent times, it has come of age and minted many unicorns. The speed of turning unicorns was so high that it has minted at least three unicorns per month this year.
It should be noted that startups are the companies that receive a valuation of more than $1 Billion.
Recently, The Hurun Research Institute released the Hurun India Future Unicorn List 2021, a ranking of India’s start-ups founded in the 2000s which are not yet listed. The report states, such startups with and most likely to ‘go unicorn’ within 2 years (Gazelles) or 4 years (Cheetahs) if their worth is at least $200 million. Startups with a valuation of ?1,500 crores or $200 million are eligible to be part of this list.
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The 10 Indian startups with the potential to turn unicorn in the next 2-4 years
1) Zilingo:
This Sequoia-backed online retail store is an online B2B platform for small fashion merchants.
Started by Ankiti Bose and Dhruv Kapoor in 2015, Zilingo, has raised a total investment of $310mn to date. The startup is backed by marquee investors such as Sequoia Capital, Temasek Holdings, Beenext, EDB Investments, among others.
2) Mobile Premier League:
Bengaluru -based gaming company Mobile Premier League, was founded by Sai Srinivas Kiran and Shubham Malhotra in 2018 and has 76 million users in India. MPL has raised a total investment of US$230mn from prominent investors such as Sequoia Capital, Moore Strategic Ventures, SIG, Pegasus Tech Ventures, Founders Circle, and others.
3) Rebel Foods:
India’s first cloud kitchen start-up was founded in 2010 by Jaydeep Barman and Kallol Banerjee. Rebel Foods operates cloud kitchens brands such as Faasos, Behrouz Biryani, Oven Story, and others.
4) Fitness start-up Cure.Fit
In June 2021, Tata Digital entered into an agreement to invest up to US$75mn in CureFit. The startup has also been backed by global investors such as Temasek, Accel Partners, Epiq Capital, Unilever Swiss, and others.
5) Spinny:
The Gurugram –based, Pre-owned car platform, Spinny was founded by Niraj Singh, Mohit Gupta, and Ramanshu Mahuar in 2015. With a team of over 900 employees, Spinny currently operates in 9 cities and has raised more than US$120mn.
6) RateGain,
The travel technology company, RateGain Travel Technologies, which offers Software as a Service (SaaS) in the hospitality and travel industry has recently filed a draft paper to raise funds through an initial share sale.
7) Mamaearth,
A D2C personal care brand that was founded in 2016 by Varun Alagh and Ghazal Alagh, was initially known as Honasa Consumer Private Limited. The company today is popularly known as Mamaearth. Mamaearth has raised a total investment of US$73.6mn from investors such as Sequoia Capital, Sofina, Fireside Ventures, Stellaris Venture, and Kunal Bahl.
8) CarDekho
A Gurugram-based auto marketplace was founded In 2007 by brothers Amit and Anurag Jain as an IT outsourcing firm and turned it into an online portal for new and used car sales. CarDekho has raised US$250mn from investors such as Sequoia Capital, Ping An, Hillhouse Capital Group, Times Internet, Ratan Tata, and others.
9) GreyOrange:
Singapore-based robotics start-up, GreyOrange was founded by BITS Pilani alumni Samay Kohli and Akash Gupta in 2009. It has raised a total investment of US$70mn across four rounds from investors such as Tiger Global, Blume Ventures, Peter Thiel, Binny Bansal, and others.
10) MobiKwik:
Gurugram-based digital payments application MobiKwik was founded in 2009 by husband and wife duo Bipin Preet Singh and Upasana Taku. MobiKwik leverages insights from big data analytics to address unmet credit needs in digital payments.
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