Global data intelligence firm CB Insights put together a list of 50 future unicorns which consists of companies that they think will eventually be valued at $1 billion or more.
- 30% of companies on this year’s list work on enterprise or big data tools
- International markets are broadly propelling the fintech space, with 6 of the 10 featured fintech future unicorns located outside the US
- More than two-thirds of the companies on our list are from North America
India is home to countless startups. In fact, it is the third-largest startup ecosystem in the world. Currently, India is home to 30 unicorns. Last year only, the country added 9 new unicorns to its list and there are many more startups which fall under soon to be unicorn category. Three Indian startups recently featured in the CB Insights’ 50 future unicorns list.
Note that global data intelligence firm CB Insights put together a list of 50 future unicorns which consists of companies that they think will eventually be valued at $1 billion or more. To identify companies, The firm used Mosaic algorithm, a metric that combines a company’s financial health, the amount of traction it has, and the strength of its market.
Indian startups in the list:
1. CRED: Fintech startup CRED was ranked at number 16 in the list. Kunal Shah launched CRED in November 2018 and since then, the credit card payments startup has been in the news for its incredible growth. CRED is a members-only club that rewards individuals for their timely credit card bill payments by providing them with exclusive offers and access to premium experiences. The platform allows credit card users to manage multiple cards along with an analysis of their credit score.
Earlier this year, the startup launched RentPay feature which allows users to pay rent using their credit card. It also launched CRED Stash which is a flexible, low-interest instant credit line.
2. Vedantu: EdTech startup Vedantu was ranked also in the list. Vedantu is one of India’s leading online tutoring company which enables students to learn live. It has over 500 teachers who have taught more than a million hours to over 40,000 students spread across 1000 cities from over 30 countries. Vedantu is founded by IITian friends Vamsi Krishna, Anand Prakash, and Pulkit Jain who did their first venture in education, Lakshya, in 2006 which later got acquired by a listed company called MT Educare (Mahesh Tutorials) in 2012.
3. Moglix: It is an Asia-based e-commerce company intensively inclined towards B2B procurement of industrial supplies, in particular, MRO, Safety, Electricals, Lighting, Cleaning & Housekeeping, Office Stationery & Supplies, Power Tools and many more industry essentials. It is an Asia-based Ratan Tata backed startup, headquartered in Singapore. Moglix was launched in 2014 and was officially founded in August 2015 by Rahul Garg. In October 2015, the startup received about $1.5 million pre-Series A funding from Accel and Jungle Ventures. In February 2016, Ratan Tata invested an undisclosed amount in the company.
Source news: timesnownews.com