It was an historic week for India’s technology industry. In the space of four days, the country minted at least six new startups with a valuation of $1 billion or more — what techies call unicorns because they’re supposed to be such rarities.
The investment platform Groww raised money at a valuation of more than $1 billion, messaging bots startup Gupshup hit $1.4 billion, digital pharmacy API Holdings Pvt. was valued at close to $1.5 billion, app developer Mohalla Tech surpassed $2.1 billion, social commerce startup Meesho Inc. also reached $2.1 billion and financial-technology provider Cred rounded out the blessing of unicorns at $2.2 billion.
Only four months into 2021, the Indian startup ecosystem has already added ten new companies to the coveted $1 billion valuation club.
The country is already cheering in its new unicorns — Digit Insurance (insurtech), InnovAccer (healthtech), Five Star Business Finance (NBFC), Meesho (social commerce), Infra.Market (B2B ecommerce), CRED (fintech), Pharmeasy (healthtech), Groww (fintech), and the latest two — Gupshup (conversational messaging) and Mohalla Tech (parent company of social platforms ShareChat and Moj).
Of these, Meesho, CRED, PharmEasy, Groww, Gupshup, and Mohalla Tech atained the unicorn status this week.