E-commerce unicorn Startup in India

E-Commerce platform

E-commerce unicorn Startup in India

India has seen the entry of 8 E-commerce unicorn Startup in the last 4 years out of which 4 joined the Elite club in 2021 only.

According to the IBEF report, E-commerce in India is at an all-time high in the year 2021 with the country’s 780.27 million users as of May 2021. India’s Ecommerce volume increased by 36% in the last quarter of 2020 personal care products being the largest beneficiary.

The Indian e-commerce industry consists of various segments like consumer electronics, apparel, food and grocery, Jewellery, Furniture, etc out of which consumer electronics and apparel constitute 80 % of the share having 40 % share each.

Increasing investments in recent years with rising digital literacy is one of the reasons for the growth of the e-commerce start-ups in India Contributing to their entry to the Unicorn Club.

Despite the Economic slowdown, depressed Consumer spending due to Covid-19 e-commerce players are expecting strong sales growth in 2021

Here is the List of e-commerce Unicorn startups in India.

1.PayTM Mall

Paytm mall is one of the largest online shopping apps in India with over 65 million + products across multiple categories from clothing, footwear, kitchen and appliances, electronics to daily groceries and essentials.    

  • Sector– E-Commerce      
  • Valuation– $3 Billion      
  • Entry– 2018
  • Founders– Vijay Shekhar Sharma
  • Founded– 2010 
  • Location– Bangalore       
  • Investors– Elevation Capital, Alibaba, SoftBank, eBay

2.FirstCry

Firstcry is a one-stop platform offering baby, kids, and maternity products for shopping. It also offers the Access pass to expert validated advice & tips on pregnancy, parenting, baby care, child development & more.

It is Asia’s largest online store for babies and kids with over 3 lakh+ products from 2 thousand+ top national and international brands.

  • Sector- E-Commerce – Baby Care Products            
  • Valuation– $1.7 Billion
  • Entry2020
  • Founders– Amitava Saha, Prashant Jadhav, Sanket Hattimattur, Supam Maheshwari
  • Founded– 2010 
  • Location– Pune  
  • Investors– Chiratae Ventures, Elevation Capital, Vertex, SoftBank

3. Lenskart

Lenskart is India’s number 1 eyewear online shopping platform having widest range of trendy eyeglasses, sunglasses for men, women, and kids. The platform has An AI-powered tool that helps you select the perfect glasses to suit your face shape known as Lenskart Face Analysis. All you need to do is click a Selfie and they will provide you with the right fit.

  • Sector– E-Commerce – Eyewear  
  • Valuation– $2.5 
  • Entry– 2019
  • Founders– Amit Chaudhary, Peyush Bansal, Sumeet Kapahi
  • Founded– 2010                
  • Location– Bangalore       
  • Investors– SoftBank, Kedaara Capital, TPG, Chiratae Ventures, TR Capital

4.BigBasket*     

Bigbasket is India’s Leading Online supermarket platform available in 25+ cities across India with more than 6 million customers. The Start-up is a Tata enterprise now after Tata Digital Buys 64% stakes in Bigbasket. China’s Alibaba Group and Actis LLP have now exited from the Grocery supermarket platform.

  • Sector– E-Commerce (Groceries)
  • Valuation– $2    
  • Entry2019
  • Founders– Abhinay Choudhari, Hari Menon, Vipul Parekh, VS Ramesh, VS Sudhakar
  • Founded– 2011 
  • Location– Bangalore       
  • Investors– Ascent Capital, Helion Ventures, Bessemer, IFC, Alibaba

5. Grofers

Groofers is also another leading Online Grocery platform and has been instrumental in introducing express Delivery to the Grocery space in India. Start-up started Instant Delivery service with 10 minutes delivery time after its successful 15-minute delivery services by creating dark stores across top cities.

  • Sector– E-Commerce (Groceries)
  • Valuation– $1    
  • Entry-2021
  • Founders– Albinder Dhindsa, Saurabh Kumar
  • Founded– 2013                
  • Location– Gurgaon          
  • Investors– Tiger Global, Sequoia Capital India, SoftBank, Apoletto, Zomato

6.PharmEasy     

PharmEasy is one of the top online Pharmacy app in India which takes care of all your Healthcare needs. The platform allows you to buy Medicines, HealthCare products, and medical equipment and get them delivered in 24-48 hours in selected cities across India. Users can also book diagnostics tests and other health check-ups from the convenience of your home.

  • Sector– E-Commerce (Online Pharmacy)
  • Valuation– $4    
  • Entry– 2021
  • Founders– Dharmil Sheth, Dhaval Shah, Mikhil Innani
  • Founded– 2015                
  • Location– Mumbai           
  • Investors– Orios VP, Eight Roads Ventures, Temasek, Naspers

7. Nykaa

Nykaa is a one-stop Beaty destination online platform with 1 lakh+ beauty products from 850 + Top National and International brands. Users can buy products for men and women through makeup, Natural skincare, haircare, appliances perfumes mom and baby products range on the platform.  The platform is set to release its Initial public offering later this year in India.   

  • Sector– E-Commerce (Personal Care & Cosmetics)             
  • Valuation– $1.8 
  • Entry2020
  • Founders– Falguni Nayar
  • Founded– 2012 
  • Location– Mumbai           
  • Investors– Techpro Ventures, TVS Capital, Sharrp Ventures, TPG Growth

8. Meesho

Meesho is a social commerce platform that acts as an online reselling platform that enables anyone to start their business without investment. The start-up has enabled over 13 million individual entrepreneurs to start their own businesses with no investment. 

  • Sector– E-Commerce (Social Commerce)  
  • Valuation– $2.1 
  • Entry– 2021
  • Founders– Sanjeev Barnwal & Vidit Aatrey
  • Founded– 2015                
  • Location– Bangalore       
  • Investors– Sequoia Capital India, Elevation Capital, SoftBank, Naspers

*  – Acquired/ Public Company

Conclusion

Companies like Flipkart, Shapclues, Snapdeal also joined the Elite unicorn club in past but now they are former Unicorn startups of India. They were one of the early  E-commerce Unicorn entrants in the club

With the Digitalization of the Industry, e-commerce is the next big thing where everything will be available online. A decade ago, when people used to browse the products on the e-commerce platforms, they were always in fear with Quality of products, online Transactions, and the worst fear was whether they will be getting their product delivered or not. But the e-commerce players have addressed all the issues to get the trust of people in India with Cash on Delivery, Top quality customer service, and genuine product promises.

The early market players have paved the way for the new players by opening opportunities in different segments of e-commerce where it was very easy for consumers to buy online. The pandemic has also given the benefit to e-commerce players as consumers need to adopt online shopping due to movement restrictions.

In the future, we may see new e-commerce players in the list in niche markets too with the increasing trend and demand.

Leave a Reply