India’s Elite Unicorn Club of startups includes startups valued at $1 billion or more. This year so far has been a good time for Indian Unicorns having 8 unicorns joined the club and many more may join it.
As a result, Indian startups are on the track to beat last year’s record of 10 Unicorn startups. Also, Unicorn Club surprised many startups this year. So, let’s start with following the latest Unicorn startups first.
1. Rivigo (Oct 2019)
Rivigo Entered in Elite unicorn club recently after funding $4.97 million from South Korea’s KB Platform Fund making its valuation $1.05 billion.
It is a Gurugram based Technology Enabled Logistics start-up founded by Gazal Kalra and Deepak Garg in 2014. In addition, Rivigo offers Logistics Service Solutions. It is having a ‘relay Trucking ‘Model in which the truck driver handovers the vehicle to another driver at a designed pit stop. As a result, this ensures that the truck is not idle at any point during the journey.
2. Icertis (July 2019)
Icertis has become the latest SaaS firm to be valued at more than $1 billion. So, after raising $115 million in funding, Icertis becomes the third SaaS startup after Freshworks and Druva to join the Unicorn club. Further, a US-based Venture Capital firm named Greycroft and PremjiInvest led this funding.
Icertis is a US Headquartered Enterprise-based Contract Management Company. In addition, Samir Bodas and Monish Darda formed it in 2009.
3. Ola electric (July 2019)
Ola Electric joins India’s Unicorn Club after Softbank’s $250 million investment in Series B Round Funding. Secondly, its parent company Ola cab also joined the Unicorn Club earlier in October 2014.
Ola electric is an Electric Mobility Company. Anand Shah and Ankit Jain founded this company in May 26, 2017.
Ola electric is working with vehicle and battery manufacturers, cities, driver-partners, and the mobility ecosystem. Because the purpose is to make electric mobility convenient, affordable, and dependent.
4. CitiusTech (July 2019)
Baring Private Equity Asia acquired CitiusTech in July 2019. So, it is valuing around $1 billion. Therefore, CitiusTech is entering in elite Unicorn Club of India.
CitiusTech is a Healthcare Technology Company. In addition, Rizwan Koita with Jagdish Moorjani founded this company in 2005. It focuses on multiple areas of digital technology such as Business Intelligence, Mobility & IoT, Big Data, Cloud computing, Predictive analysis, and Data Science.
5. Druva Software (June 2019)
Druva has raised $130 million in Series G funding from investors led by US-based Viking Global Investors, Neuberger Berman, and Atreides Management entering the Unicorn Club.
It is Data Protection and Management Company Founded by Jaspreet Singh and Milind Borate in 2008. It is now headquartered in the US. Druva Offers SaaS for Backup, Disaster Recovery, Archival, and Analytics on Cloud Platform.
6. Dream11 (April 2019)
Dream11 joins India’s Unicorn club following an investment from Steadview Capital through the secondary route of $60 million. It becomes the first Gaming Platform to enter Unicorn Club India.
Dream11 is a Mumbai-based Fantasy Sports Platform Founded by Bhavesh Seth and Harsh Jain in 2008. On Dream11, the user uses its knowledge in sports to win prizes and rewards in money.
7. Bigbasket (March 2019)
Bigbasket boosted its valuation to $1 billion led by South Korea’s Mirae Asset-Naver Asia Growth Fund, UK’s CDC Group, and existing investor Alibaba pushing it to the coveted Unicorn club.
It is a Bengaluru-based Supermarket Grocery Online Brand founded by Hari Menon, VS Sudhakar, Vipul Parekh, Abhinay Choudhari, VS Ramesh in October 2011. Bigbasket offers a transformational and convenient Online Grocery Platform to its Customers.
8. Delhivery (March 2019)
Softbank funding boosted Delhivery valuation to $ 1.6 billion with $350 million funding in Series F round to become the first unicorn of 2019. Its existing investors Carlyle Group and Chinese conglomerate, Fosun International also participated in the round.
Delhivery is Gurgaon based Third Party Logistic Service Provider founded in 2011 by Sahil Barua, Mohit Tandon, Bhavesh Manglani, Suraj Saharan, and Kapil Bharati. It is India’s largest B2B and C2C Logistic Courier Service Provider operating in over 1200 cities in India.
India is one of the fastest-growing countries in terms of producing Unicorn startups. India ranked 3rd in the globe with 25 Unicorn startups and this number is expected to increase to 54 by 2024.
Note: The Unicorn startups are arranged according to the latest date of joining the unicorn club. Please suggest startups names if we missed any.
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