With 100+ unicorn startups, India's startup ecosystem is rapidly rising to the top of the global rankings. Though they are not as uncommon as they once were, unicorn startups are difficult to create in the modern world. The startups that have succeeded in climbing the unicorn ladder are discussed in this article. It takes a lot of effort, dedication, and perseverance throughout the startup's journey to becoming a unicorn.
Indian startups have changed over the last ten years. Government assistance, capital from venture firms, and qualified personnel have all contributed to the growth of startups. There are 100+ unicorns in India, and more are reportedly on the way, according to reports. Many Indian startups have become “unicorns” in recent years. Unicorn startups are private companies worth over $1 billion. These startups innovate and create new markets in India. India is attracting unicorn startups in e-commerce, fintech, tech, health tech, and more due to its large pool of talented and ambitious entrepreneurs. In this post, We’ll talk about the List of Unicorn Startups in India 2023 | Indian Unicorn Startups, as reported by CB Insights. ( Source Name: victories)
Here is a list of unicorn startups that have been founded in India to date.
1. MakeMyTrip
2010 saw MMT emerge as India's first-ever unicorn. A travel website that was originally only responsible for arranging travel between the US and India has since expanded to include 14 nations.
2. Inmobi
Inmobi, which attained its status in 2011, was the second Indian unicorn. Currently, a multinational corporation, Inmobi supports platforms that are built for mobile devices by providing branding, marketing, and other practical growth strategies.
3. Flipkart
An online store called Flipkart began as a platform for the online sale of books, and it has since expanded. When anything is required, from a pen to an electronic device, it has now become one of the most well-known household names.
4. Mu Sigma
Data science and analytics business Mu Sigma was established in Bengaluru in 2004 by Dhiraj Rajaram. The data analytics company boasts a clientele of over 140 Fortune 500 companies, including Microsoft Corp, Walmart Stores Inc., Dell Inc., and Pfizer Inc.
5. Paytm
PayTM has evolved from a simple app to a way of life. Since demonetization, "PayTM karo" has persisted, and because of its virality, it has grown to be one of the most popular accessories among everyone from the average person to small-scale vegetable growers to major corporations.
6. Zomato
It is an ordering app that compiles menus from several different restaurants. With all those amusing notifications, Zomato has won our hearts—and for good reason—since it's consistently delivered top-notch food.
7. OLA
If you need a cab, an auto, or a bike, Ola's app will deliver them right to your door. Since 2010, it has existed. The company is now active in additional business sectors, including cloud kitchens and financial services.
8. ReNew Power
With 110 operations spread across 18 states, it is the largest company for renewable resources. The first Indian renewable energy company to reach 1 GW of capacity was ReNew, which made history in 2016 by becoming the first renewable energy IPP to raise rupee-denominated masala bonds.
9. BillDesk
The company is a Mumbai-based online payment gateway. One of the few financially successful fintech businesses in India is Billdesk.
10. PolicyBazar
It is an Indian aggregator of insurance policies. The business, which has now expanded into the United Arab Emirates, is the biggest insurance aggregator in India.
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11. Byju’s
The ed-tech business Byju's exists. Since teaching middle school classes, it has expanded to include competitive exams like JEE and NEET. More than 150 million students have benefited from its highly adaptive, instructive, and interesting learning methods.
12. Swiggy
FoodTech companies include Swiggy. With Instamart and Minis, it has greatly expanded as well. Swiggy's user experience continues to astound its users. Since its creation, Zomato has faced intense competition.
13. Paytm Mall
The online shopping platform Paytm Mall was created by Paytm. It is built around vendors, sellers, and retailers. By levying a commission on the items sold, it makes money.
14. OYO
A unicorn startup in the hotel industry is OYO Rooms. Oyo, also known as OYO Hotels & Homes, is an international hotel chain with properties in India that are leased and franchised.
15. Udaan
Udaan is a business-to-business organization. According to the company, it operates in the categories of lifestyle, electronics, FMCG, pharma, home and kitchen, staples, fruits and vegetables, toys, and general merchandise.
16. Freshworks
A cloud-based software solution for companies is called Freshworks. Former Zoho Execs founded it. It offers IT, sales, and marketing solutions globally.
17. CitiusTech
CitiusTech is a consulting and digital technology company for healthcare and life sciences. Baring Private Equity Asia bought it for $1 B in 2019.
18. Dream11
A fantasy gaming website from India is called Dream11. It became the first unicorn-themed video game platform. The fact that M.S. Dhoni is now its ambassador has increased its value in the fantasy sports industry.
19. Lenskart
Online eyewear retailers like Lenskart exist. It has developed an AR method for ordering eyeglasses online and trying them on. The eyewear selection at Lenskart is very extensive.
20. Rivigo
Rivigo works to automate the intricate Supply Chain sector while attempting to provide a seamless user experience. The logistics company was the first to achieve unicorn status.
21. BigBasket
A company called BigBasket delivers groceries and prepared food right to your door. They have maintained fresh fruits and vegetables throughout and have become something of a unicorn in the market.
22. Druva
Located in Santa Clara, California, Druva Inc. is a privately held software company. Products for data management and protection are offered by the company as SaaS. More than 800 people now work for the company, which was founded in 2008 and has since received funding in several rounds.
23. OLA Electric
We now view cars very differently thanks to the automotive company Ola Electric. It has become increasingly popular to incorporate EV technology into vehicles. OLA S1 Air is the most recent model.
24. Icertis
Using a software-as-a-service business model, Icertis is a privately held software provider that offers enterprise businesses contract management software.
25. Delhivery
Delhivery is a courier service that evolved from using couriers in the traditional sense to using them in applications that have altered logistics.
26. Postman
An API platform called Postman allows programmers to create, test, and refine their applications. This tool contains almost all of the functionality a developer might require.
27. Zenoti
More than 10,000 spas, salons, and medical spas worldwide, ranging in size from small single-location chains to large multicenter chains with over 200 locations, use Zenoti, a web-based software.
28. VerSe
People can produce content for 350+ million people in their language thanks to VerSe Innovation. The 'Daily Hunt' is the name that is known by most people. Josh, India's top video creation app, is also made possible by it.
29. Highradius
Fintech business HighRadius. It uses AI to support the automation of accounts and treasury procedures at other businesses. With simple models that integrate business operations and simplify procedures, it optimizes accounts receivable.
30. Pine Labs
It is currently redefinition payments. To make things easier for your customers and boost sales, it accepts all forms of payment. A single platform that accepts all forms of payment, including debit and credit cards, BNPL, and eWallets, will make your products more affordable for your customers and increase your sales.
31. Nykaa
Nykaa is an online retailer that has expanded its product line beyond just cosmetics to include apparel and other things. Nykaa has worked with upscale brands and influencers, which is now making an impact on the industry as a whole.
32. FirstCry
In India, the business operated more than 380 stores. In May 2019, FirstCrys opened its first location in Srinagar. offering a wide range of products in extensive categories to meet the needs of newborns, babies, and children.
33. PhonePe
A fintech business is PhonePe. It is well known for being used by blue-collar workers and has gained their trust thanks to its improved user interface and in-app money transfer functionality.
34. Zerodha
Trading is done through Zerodha. It is India's largest stockbroker. Trading and investing in mutual funds are popular among young people.
35. Razorpay
Only Razorpay's product suite enables businesses to accept, process, and disburse payments in India. Thus, Razorpay ranks second among privately held Indian fintech companies in terms of valuation.
36. Glance
Glance is a Screen Zero content discovery platform that prioritizes AI. It is a software company based in India that provides personalized content for smartphone lock screens.
37. Cars24
Vehicle sellers can list their vehicles on Cars24.com. However, potential buyers can purchase a used car instead. The company as a whole, which is built around this idea, has grown tremendously in the car trading industry.
38. Unacdemy
The goal of Unacademy is to make education accessible to everyone. All people, from those who have passed competitive exams to those who want to pursue their passions and launch their own businesses, can receive education from it.
39. Dailyhunt
Located in Bangalore, India, Dailyhunt is a news and content aggregator that offers local content from various content providers in 14 Indian languages. All of its revenue is generated by advertising.
40. GlobalBees
The company with its headquarters in New Delhi, GlobalBees, has joined the unicorn club as it scales its Thrasio-like house of brands after raising one of the largest Series A financing rounds in India earlier this year.
41. Mensa
Mensa is a financial service that assists businesses in turning their names into brands in the modern era of technology. To improve the process of building brands, they want to use the digital world.
42. Rebel Foods
Faasos and Oven Story are two of the stores managed by the Indian Cloud Kitchen chain Rebel Foods. With 450+ cloud kitchens spread across 10 countries, it has developed into the largest cloud kitchen chain.
43. MindTickle
Software for preparing for sales, MindTickle. Onboarding and user assistance are facilitated. The sales team may benefit from providing coaching and product training to the audience to better serve them.
44. Polygon
A blockchain investment company is called Polygon. It intends to make Ethereum compatible with multi-layered blockchain ecosystems.
45. Mohalla Tech
Owned by Mohalla Tech Pvt Ltd in Bangalore, Moj is a social networking service for video sharing in India. It includes animated emoticons, special effects, and 15- to 1-second-long short videos.
46. BrowserStack
It is intended to make browser and app testing simple. It instructs the user in better knowledge using a few straightforward steps.
47. Zeta
It is a banking technology firm. The business offers BNPL, core banking, credit and debit processing, as well as mobile experiences. The business offers its services to banks and fintechs all over the world.
48. Chargebee
A SaaS platform called Chargebee assists with subscription billing. Some of the SaaS and subscription-based businesses that are growing the quickest are powered by Chargebee.
49. Gupshup
Big and small businesses can use the AI-powered tool Gupshup. It has assisted companies in providing their customers with conversational messaging experiences. It benefits business verticals such as marketing, sales, and customer support.
50. Groww
Investing in stocks and mutual funds is made possible by Groww. For its quick development, it is renowned. Under the name NextBillion Technology Private Limited, it is a stockbroker with SEBI registration.
51. Innoaccer
With a clear vision to connect and curate accessible health information for everyone, Innovaccer is expanding in the health tech sector. It's steadily overtaking other platforms for healthcare data.
52. Digit Insurance
This company offers insurance across the board and is a general insurer. Travel is just the beginning of the variety; it also includes home and health. Digit App deals with deposits.
53. MyGlamm
MyGlamm is an online store that offers assistance with cosmetics and personal care products. It is designed for women who want to be "unapologetically glamorous" and has its headquarters in Mumbai.
54. PharmEasy
Drug purchases online are now simple thanks to PharmEasy. It belongs to the E-Pharmacy subcategory. A clear prescription is required in order to place an order.
55. Droom
Droom is a data science and tech company that makes it easier to buy and sell cars online by combining a proprietary ecosystem of goods and services for the auto industry with a technology-driven, vertically integrated automobile e-commerce platform.
56. BlackBuck
Blackbuck has moved logistics operations online, converting them from being largely offline. Truckers and shippers have been successfully matched by Blackbuck.
57. CoinDCX
You can develop your cryptocurrency portfolio using CoinDCX. It's been shown to be both secure and easy. As they are aware that not all users may have the same level of risk tolerance, it allows users to invest as little as Rs. 100.
58. CoinSwitch
The largest crypto company in India is this one. To make cryptocurrency more accessible, CoinSwitch was founded. It aims to make cryptocurrency investing simple and open to all.
59. OfBusiness
OfBusiness provides procurement financing as well as collects raw materials. Small and medium-sized businesses with annual sales of more than $3 million can access loan lines from the company through partnerships with banks.
60. Infra.Market
To supply walling solutions, electricals, sanitaryware, and other construction materials, Infra. The market relies on a network of SMEs. 61. Mamaearth
Mamaearth started making products that the whole family could use without worrying. With its pure and non-toxic products, it went from having a very small following to becoming a unicorn.
62. CureFit
The campaign to improve people's health is called Cure Fit. Customers of CureFit can register for classes online or Attend them. It aids in a person's improvement in all facets of nutrition, physical health, and mental well-being.
63. Cred
Cred has gained notoriety for its cutting-edge user interface, marketing, and application. It has evolved from being a tool for users to manage their bills and other expenses. To help people save money, it offers cashback and other discounts.
64. Slice
India's youth are the primary target market for the fintech startup Slice. We want to redesign how millennials interact with money by creating a smart, straightforward, and transparent financial platform.
65. Upstox
The goal of Upstox is to manage private wealth that hasn't been invested in any kind of asset. By offering the proper financial education, Upstox enables investors to make the best choices for their portfolios at the appropriate times.
66. Vedantu
several improve education in India, Vedantu wants to reimagine it. To create a better and more organized pathway to it, they want to stream it.
67. Prystin Care
Located in Gurugram, India, Pristyn Care is a health technology company that specializes in minimally invasive treatments. More than 700 partner hospitals and 100 clinics make up the organization's network.
68. Blinkit
In 2013, Saurabh Kumar and Albinder Dhindsa founded Grofers, which has since changed its name to Blinkit. Following an investment from Zomato, the startup, which had experienced enroll now ups and downs, joined the unicorn club last year.
69. Meesho
Meesho is an app that enables people to resell items for less money. It has emerged as the top reselling application. The platform enables individuals and small businesses to launch their online stores through social media platforms like WhatsApp, Instagram, etc.
70. Zetwerk
A managed global market for contract manufacturing, Zetwerk is a Manufacturing Business. For all industries, they provide the top manufacturing solutions.
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71. Licious
Fresh meat can be found at Licious in one convenient location. Again making it unique, it has been bringing fresh meat and chicken to the door. It utilizes a farm-to-fork model.
72. CarDekho
Users can find the best vehicles for them with the aid of the car search company CarDekho. More than 3,000 certified pre-owned vehicles are available for online purchase from the startup, which buys cars from customers and then sells them.
73. BharatPe
BharatPe makes using payment methods simple by providing businesses with a single QR that can be used to send payments across all platforms.
74. Urban Company
Urban Company brings salon, plumbing, and deep cleaning services right to your door. The best home service in India and the UAE is this one.
75. Apna
For Indians in particular, Apna is a free job posting platform. Additionally, a candidate can use it to better themselves. It has been demonstrated to upgrade and complete the hiring process in two days.
76. upGrad
An ed-tech company called upGrad offers online education. It also provides additional programs, such as a hybrid one that is available in some other nations in both online and offline modes.
77. Eruditus
The Eruditus group, which consists of Eruditus Executive Education and its online division Emeritus, collaborates with prestigious universities in the US, Europe, Latin America, India, and China to provide top-notch business and professional education to a worldwide audience.
78. ShareChat
With ShareChat, one of the most popular social media sites in India, users can express their ideas, keep a diary of their lives, and meet new people in their Purple language. The parent company of Moj and Moj Lite+ is Sharechat.
79. Acko
Due to its authorization and certification by India's insurance industry regulator, the Insurance Regulatory and Development Authority of India (IRDAI), ACKO General Insurance is a trusted business. It is an Indian corporation that is not government-owned.
80. MPL
The largest eSports and mobile gaming platform in India, Mobile Premier League (MPL), provides free game downloads in a variety of genres, including card games, fantasy sports, and more.
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81. Spinny
In India, a cutting-edge end-to-end platform for used cars is called Spinny. They are bringing about a sea change in the way people buy used cars by establishing complete trust & simplicity in transactions.
82. Mobiwik
Indian company Mobikwik offers payment processing services. It offers both digital and phone-based payment methods. It is now recognized as one of the secure payment options.
83. NoBroker
A revolutionary real estate platform called NoBroker makes it possible to buy, sell, or rent a home without having to pay a commission. It guarantees that every listing is accurate and that all information is available to the person looking for a home.
84. Moglix
Brands are offered by Moglix at the most affordable price. It serves all needs in a single location. This business offers a huge selection of commercial and industrial supplies.
85. Elastic Run
A B2B e-commerce company for rural India is called Elastic Run. presenting new opportunities for companies to reach consumers with their goods.
86. Oxyzo
Finance companies can get tech solutions from Oxyzo Financial Services. Design and development are examples of these. Increases in operations and revenue also contribute to improvement.
87. CommercelQ
A tool for managing omnichannel sales is called CommerceIQ. It supports the application of machine learning by major brands and boosts e-commerce revenue.
88. Yubi
An investor can find, trade, execute, and complete debt solutions using the fully integrated, unified digital platform Yubi.
89. Hasura
A company called Hasura offers programming tools to businesses that need to put an idea into practice.
90. Uniphore
The company behind the technology is called Uniphore. Software for various services, including conversational assistance, analytics, and others is sold by Uniphore.
91. Livspace
Interior design services are offered by LivSpace, a business that specializes in residential design. In India and Singapore, it offers remodeling and interior design services.
92. Darwinibox
Human resources management software in the cloud is widely available from Darwinbox. The HR-Tech experience is built entirely on AI and ML and is mobile-first.
93. Fractal Analytics
Through a thorough understanding of consumer behavior, Fractal Analytics helps its Fortune 500 clients increase global business performance.
94. Amagi Media Labs
Offering software as a service (SaaS) solutions is Amagi Media Labs Private Limited.
95. Games24x7
Games24x7 is a pioneer in India's rapidly expanding online gaming market and has developed a highly profitable company with exceptional acquisition and retention metrics.
96. LEAD School
For managing school systems, there is LeadSchool. It primarily provides academic content.
97. Xpressbees
B2B, B2C, 3PL, and cross-border logistics are provided by Xpressbees. It operates in 3000 cities and fulfills over 3 million orders daily.
98. DealShare
DealShare is an online grocery store. It ensures the most competitive price in the entire town.
99. Purplle
Appliances and goods focused on beauty are available from Purplle. It provides information on the same topics, including skin care, wellness, and personal care.
100. Open
Open.Money is a neo-ban that offers hassle-free solutions to startups and SMBs. Open.Money The VISA business card that is included with the Open Business Account combines banking, payments, accounting, expense management, and taxes into one convenient location.
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101. LeadSquared
LeadSquared is a business that offers a single platform for lead generation, sales management, and analytics. A marketing automation and customer relationship management (CRM) answer for companies of all sizes, LeadSquared is cloud-based.
102. PhysicsWallah
An ed-tech platform online is called PhysicsWallah. It is intended for those who desire thorough and reasonably priced courses. It is intended for students in grades 6 through 12 and for competitive examinations like JEE and NEET.
103. OneCard
OneCard is a metal credit card designed for mobile applications, not a BNPL service. It is a co-branded credit card, and the banks under RBI regulation are the ones who extend the credit line.
104. 5ire
5ire wants to develop into a self-sovereign, decentralized blockchain ecosystem for the fifth industrial revolution.
105. To
A logistics aggregator called Shiprocket seeks to make online shopping more accessible to all. It ranks among the top businesses for end-to-end logistics.
106. Tata 1mg
Previously known as 1mg, Tata 1mg is a healthcare platform. It offers services like online pharmacies, diagnostics, online consultations, and health information. It has begun establishing physical locations where all of the medications are sold.
107. Molbio Diagnostics
Molbio Diagnostics seeks to improve healthcare by providing accurate, quick, and affordable diagnosis at the Point of Care (POC). It wishes to carry on innovating.
108. Five Star Business Finance (FSBF)
In order to help people who need personal or professional growth, it offers small business loans and small mortgages. The subsidiary of the business, Five Star Housing Finance Private Limited, was created to support its customers with small housing loans.
109. Zoho
The Indian startup ecosystem pays close attention to and admires Zoho, just like it does Zerodha. In addition to being a bootstrapped unicorn, Zoho was established in 1996 by Sridhar Vembu and Tony Thomas. At the time, it was known as AdventNet INC.
110. Quickr
The online classifieds site Quikr is based in Bengaluru. On the business's online platforms, users are permitted to post classified ads.
111. Info Edge
The discovery platform Info Edge, based in Delhi, NCR, also manages the real estate platform 99Acres.com, the education consulting platform Shiksha.com, the jobs classifieds website Naurki.com, and the matrimony website Jeevansaathi.com.
112. Snapdeal
Snapdeal is an e-commerce platform based in Delhi-NCR that was established in 2010 by Rohit Bansal and Kunal Bahl. In India's e-commerce market, it contends with companies like Flipkart and Amazon.
113. ShopClues
ShopClues was a Delhi-NCR-based e-commerce site that competed with Snapdeal and Flipkart. According to ShopClues, their business was the first to promote the "managed marketplace model" in India.
114. Hike
Hike raised $175 million in a funding round to join the unicorn club in 2016 when there weren't many startups in India valued at $1 billion or more.
115. MapmyIndia
In addition to competing with Google Maps and Apple Maps for mapping in the nation, MapmyIndia is a digital mapping startup that provides geospatial data services to other businesses.
116. National Stock Exchange of India
United States National Stock ExchangeIndian Enterprise Fintech company, National Stock Exchange of India. A stock exchange is provided by the company. The National Stock Exchange of India reached unicorn status in July 2020, 24 years after its founding, and was valued at $1 billion.
117. IndiaMART
Brijesh and Dinesh Agrawal established the Indian e-commerce business IndiaMart. For buyers and sellers, the company provides an online marketplace. IndiaMart reached unicorn status in 2020 with a $1.8 billion valuation after being founded 24 years earlier.
118. Good Glamm Group
Darpan Sanghvi founded the Good Glamm Group, an Indian e-commerce business. The business provides cosmetics. Good Glamm Group reached a valuation of $1.2 billion on March 20, 2022, just six years after its founding, making it a unicorn.
119. boAt
Aman Gupta founded the Indian consumer and retail company The boAT. The business sells earbuds, headphones, smartwatches, and home audio products. On September 25, 2018, boAT reached a valuation of $1.4 billion, becoming a unicorn six years after its debut.
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Unicorns can be found in India, where there are currently over 108 of them. The Indian unicorn startups were included in this list. This should be helpful to you, we hope. What is a unicorn company?
A unicorn company is a privately held startup company with a valuation of over $1 billion.
How many unicorn companies are there in India?
As of May 2023, there are over 100+ unicorn companies in India.
Which are the most valuable unicorn companies in India?
As of May 2023, the most valuable unicorn companies in India are Paytm, Byju's, OYO Rooms, Ola, and Udaan.
What industry do most of the unicorn companies in India belong to?
Most of the unicorn companies in India belong to the e-commerce, fintech, and edtech industries.
What makes unicorn companies successful?
Unicorn companies are successful due to their innovative business model, efficient execution, ability to scale rapidly, and market disruption.
How do unicorn companies impact the Indian economy?
Unicorn companies create job opportunities, attract foreign investment, drive innovation, and contribute to the growth of the Indian economy.
What are the challenges faced by unicorn companies in India?
Some of the challenges faced by unicorn companies in India include intense competition, regulatory hurdles, talent acquisition, and market saturation.