As of 2022, India has over 100 unicorn startups, making it the fastest-growing startup ecosystem in the world. There are more unicorn firms now than there were a few years ago, but it is not simple to develop a unicorn company. To become a unicorn, a firm must put in a lot of time, effort, and dedication from the beginning, and the companies that have achieved this status are profiled below.
“Unicorn” and “Startup” are the two terms that make up the name “Unicorn Startup”. The word “unicorn” refers to a startup valued at more than $1 billion. Aileen Lee, a VC and seed investor, originated the phrase. On the other hand, startups are often small, privately held businesses in their first phases of growth.
Here are the top five Indian unicorns, which is the total number of unicorns in India at this time in 2022!
InMobi
InMobi is a mobile advertising platform established in Bengaluru that aids in the optimization of the rankings of mobile phone adverts. India’s first unicorn business was launched by InMobi in January 2007, making it an essential part of the country’s startup community. 2020 will see Glance become a unicorn as well as InMobi’s subsidiary, Glance.
Flipkart
Flipkart does not require an introduction since the Big Billion Days are one of the most anticipated online events that millions of Indians look forward to. Flipkart is India’s preferred eCommerce platform. After inMobi, the first Indian unicorn, Flipkart was one of the first to reach unicorn value in the 2011-2012 period. Flipkart is a household name in India because to its 350 million active users and 150+ million items spread over 80+ different categories. In 2018, Walmart paid $16 billion to buy this e-commerce powerhouse, which allowed it to grow quickly and easily. To date, the highest-valued Indian firm will be Sachin Bansal & Binny Bansal, with a market cap of $37.6 billion.
BharatPe
One of India’s leading digital payment app, merchant aggregator and payment platform isBharatPe. Resilient Innovations Private Limited is a private limited corporation, not a government agency. On August 4, 2021, the firm increased its worth to $2.85 billion and became a member of the unicorn club, headquartered in New Delhi, India.
Ashneer Grover, the co-founder of BharatPe, was recently accused of abusing a Kotak employee over the phone. Grover was also well publicized for his hasty conduct and outspoken statements, like saying “naukridhoond” to one of his fellow pitchers on many occasions. In addition, he has recently been linked to a financial scam involving BharatPe, his wife Madhuri, and five others, which is still under investigation according to reports dated January 29, 2022. According to the corporation and its Board, Ashneer is now on a leave of absence. According to persons familiar with the situation, Grover may lose his position and be dismissed.
Dream11
Dream11 is a fantasy sports platform in India that offers a wide range of sports to Indian sports fans, including cricket, football, hockey, volleyball, handball, futsal, and rugby. An Indian sports portal called Dream 11 hopes to assist sports fans in expanding and showcasing their wealth of knowledge about their respective sports.
Dream11, an Indian firm, received $60 million in fundraising from Steadview Capital and other investors earlier this year and became the country’s first unicorn. Dream11 was valued at $8 billion in November 2021, after the business closed a $840 million investment.
PhonePe
To far, PhonePe has had a significant impact on the ease, speed, and convenience of digital payments for both Indian consumers and businesses. The firm, which has its headquarters in Andheri, Maharashtra, India, was founded in 2015 and claimed to have the highest proportion of the UPI app market. Before the year 2020, the firm has already shown tremendous growth potential and earned unicorn status. Growth of the firm has been significant since it was purchased by Flipkart in April 2016. The PhonePe’s business model is very noteworthy.
