Overview of Indian Unicorn startups

Indian startups ecosystem has growing with rapid growth and registered 11 new Unicorn startups despite covid 19 pandemic in 2020. This figure is highest of any year. India started unicorn in 2015 by PayTm become the first Indian unicorn. Now 34 Unicorn startups in India and 12 more startups join this club in 2021 as per Nasscom prediction.

With 58% of them being B2B tech startups, including Razorpay, PineLabs, Zerodha and Postman. At $16 billion, Paytm is India’s most valuable unicorn, followed by edtech startup Byju’s.

Despite the robust growth and third largest country with Unicorn startups, India still not in a competition with USA and China. Indian needs more growth opportunity and flexibility in to do business to create new opportunity for entrepreneur to start their business.

Business body Nasscom and global management and strategy consultancy Zinnov released that India will create 12 new unicorns in 2021 due to rapid digitalization and adoption of new technologies. B2B section of startups is top with contribution of 58%. Banglore is the hub Indian unicorn strtup with 16 Unicorn startups.

Indian ecommerce giant Flipkart, foodtech startup Zomato and furniture e-tailer Pepperfry are to list on Indian stock exchange via launching IPO in coming year. Freshworks, Druva, PolicyBazaar and Delhivery also planning for the IPO launching in coming years.

“With continued addition of new startups, booming unicorns and increased adoption of deep-tech, the ecosystem shows an even more promising future. Depending on headwinds, 2021 promises to be a positive year for Indian tech startups, marching steadily towards a $1 trillion digital economy goal,” said Nasscom president Debjani Ghosh.

Digit Insurance became India’s first unicorn of 2021. The first insurtech startup in this coveted club, Digit Insurance is now valued at $1.9 billion. 

A Quick Look at Indian Unicorn stratups

Unicorns CreatedAverage Funding in New UnicornsAverage Time from Series A to UnicornMedian Number of Investors 
34$ 321M5.6 Years9
   [-$6M][+1.5 Years][+1]

*numbers within bracket show deviation from global average/median values

#Unicorns Created
Average Funding till Unicorn($M)
Time to Unicorn from series A(years)

List of Indian Unicorn startups

Postman : The software company was founded in 2014 by Abhinav Asthana, Ankit Sobti and Abhijit Kane and is headquartered in San Francisco. Further, Postman is a leading platform for application programming interface (API) development. 

Digit Insurance became India’s first unicorn of 2021. The first insurtech startup in this coveted club, Digit Insurance is now valued at $1.9 billion

Zenoti, Software-as-a-service (SaaS) firm Zenoti has raised $160 million as part of its Series D round. The cloud software provider to the beauty and wellness industry has reached a valuation of over $1 billion. Further, the funding comes a year after Zenoti raised close to $70 million from Tiger Global Management and Steadview Capital. It will also allow the company to make acquisitions of similar SaaS businesses operating in the spa and salon segment.

Glance 2017, Bangalore ( India )  |  Mobile Utility Tools Series A: September, 2019 | Unicorn Round: December, 2020
Total Funding $ 190M

DailyHunt 2007, Bangalore ( India )  |  Vernacular Platforms Series A: September, 2009 | Unicorn Round: December, 2020
Total Funding $ 243M

CARS24 2015, Delhi NCR ( India )  |  Auto E-Commerce & Content Series A: November, 2015 | Unicorn Round: November, 2020
Total Funding $ 401M

Razorpay 2014, Bangalore ( India )  |  Venture Capital Funds Series A: October, 2015 | Unicorn Round: October, 2020
Total Funding $ 207M

Unacademy 2010, Bangalore ( India )  |  Test Preparation Tech Series A: January, 2017 | Unicorn Round: September, 2020
Total Funding $ 354M

NXTRA DATA 2013, Delhi NCR ( India )  |  Data Center Infrastructure Series A: NA | Unicorn Round: July, 2020
Total Funding $ 235M

Zerodha 2010, Bangalore ( India )  |  Investment Tech Series A: NA | Unicorn Round: June, 2020

BYJU’S 2011, Bangalore ( India )  |  K-12 EdTech Series A: September, 2013 | Unicorn Round: September, 2018
Total Funding $ 2B

Nykaa 2012, Mumbai ( India )  |  Beauty Tech Series A: July, 2014 | Unicorn Round: March, 2020
Total Funding $ 119M

FirstCry 2010, Pune ( India )  |  Mom & Baby Care Series A: April, 2011 | Unicorn Round: February, 2020
Total Funding $ 553M

Pine Labs 1998, Delhi NCR ( India )  |  Payments Series A: June, 2009 | Unicorn Round: January, 2020
Total Funding $ 357M

BlackBuck 2015, Bangalore ( India )  |  Logistics Tech Series A: August, 2015 | Unicorn Round: November, 2019
Total Funding $ 291M
Rivigo 2014, Delhi NCR ( India )  |  Logistics Tech Series A: April, 2015 | Unicorn Round: September, 2019
Total Funding $ 269M

Lenskart 2010, Delhi NCR ( India )  |  Fashion Tech Series A: October, 2011 | Unicorn Round: September, 2019
Total Funding $ 478M

OLA Electric 2017, Bangalore ( India )  |  Electric Vehicles Series A: NA | Unicorn Round: July, 2019
Total Funding $ 339M

Zoho 1996, Chennai ( India )  |  Sales Force Automation Series A: NA | Unicorn Round: April, 2019

Dream11 2008, Mumbai ( India )  |  Sports Tech Series A: January, 2015 | Unicorn Round: April, 2019
Total Funding $ 385M

bigbasket 2011, Bangalore ( India )  |  Online Grocery Series A: March, 2012 | Unicorn Round: March, 2019
Total Funding $ 788M

Delhivery 2011, Delhi NCR ( India )  |  Logistics Tech Series A: June, 2012 | Unicorn Round: March, 2019
Total Funding $ 796M

BillDesk 2000, Mumbai ( India )  |  Payments Series A: June, 2006 | Unicorn Round: February, 2019
Total Funding $ 246M

udaan 2016, Bangalore ( India )  |  B2B E-Commerce Series A: Novembe, 2016 | Unicorn Round: September, 2018
Total Funding $ 900M

Paytm 2010, Delhi NCR ( India )  |  Payments Series A: March, 2007 | Unicorn Round: September, 2015
Total Funding $ 4B

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