In terms of startups, India has seen remarkable growth. Seeing so many people make the leap of faith is inspiring. Due to the abundance of innovations, this has made life simpler for us and inspired others to follow their passions. There are many VC-funded firms that are growing into well-known brands and businesses, whereas some startups are self-funded or run by a single individual. There are 108 unicorn start-ups in India as of January 2023. It makes up about ten percent of all unicorns worldwide. In total, there are about 1000 unicorns in existence.
Returning to our primary subject, India has a sizable startup community. These unicorns serve as illustrations of the potential of startups. Many of them are capable of great things when given the right guidance. In the following article, we are mentioning our selection of top 10 unicorn startups in India.
Top 10 Unicorn Startups in India
1. MakeMyTrip
In 2010, Make My Trip became the country of India’s first-ever unicorn. It is an online travel agency that initially handled travel from the US to India but has since grown to 14 other nations. From focusing only on US to India trip planning to currently serving more than 10 nations, it has strategically grown. It is now moving into the B2B market. As of 2023, the company is valued at $2.8 Billion, having achieved unicorn status in 2010.
2. Flipkart
In 2010, Make My Trip became the country of India’s first-ever unicorn. It is an online travel agency that initially handled travel from the US to India but has since grown to 14 other nations. From focusing only on US to India trip planning to currently serving more than 10 nations, it has strategically grown. It is now moving into the B2B market. As of 2023, the company is valued at $2.8 Billion, having achieved unicorn status in 2010.
3. Paytm
Paytm, one of the most well-known providers of financial technology, focuses on digital payment systems, e-commerce, and financial services. The startup’s primary selling point is its payment gateway service, which enables customers to easily transfer money from their bank accounts to merchants. Paytm joined the unicorn club back in 2015. The company was worth over $7 billion in 2017, and by 2020, its value will have increased to over $16 billion.
4. Byju’s
Byju is India’s largest education technology firm and was founded by Byju Raveendran. Aarin Capital provided early money to BYJU’S in 2013, and the educational app was released in 2015. Byju’s is a highly sought-after online education platform with over 115 million registered users that guarantees conceptual clarity through visualisations and individualised learning plans. The company’s valuation has increased to $22 billion following a recent $800 million financing. This makes it one of the top 10 Unicorn Startups in India.
5. Zomato
It is an ordering app that compiles menus from a number of different eateries. With all those amusing notifications, Zomato has won our hearts—and for good reason—since it’s consistently delivered top-notch food. It is still continuing strong because of its top-notch technology, expertise, and devotion to the needs of the customers. It provides all the tools you need to find and order food from restaurants online, make reservations for tables, manage them, and use POS systems. It is valued at $6.52 billion as of 2023.
6. OYO Hotels & Homes
OYO began as a series of low-cost hotels that were eventually joined by residences, hotels, and living areas that were leased or franchised. The OYO group has grown to include more than 18000 hotels and 270,000 rooms across more than 500 locations in India over the course of nine years. In September 2018, OYO secured $800 million from SoftBank and was subsequently recognised as a unicorn company. In August 2021, OYO secured $5 million from Microsoft, valuing the company at $9.6 billion. The growth trajectory places it among the top 10 Unicorn Startups in India.
7. Dream11
The fantasy sports website Dream11 offers fantasy basketball, kabaddi, hockey, and football. Among its many accomplishments, Dream11 is proud to have collaborated with the International Cricket Association (ICC), Pro Kabaddi League, and International Hockey Federation in 2018. Dream Sports, the parent entity of Dream11, allegedly closed a $840 million financing at a $8 billion valuation in November of 2021.
8. PharmEasy
Drug purchases online are now simple thanks to PharmEasy. A clear prescription is required in order to place an order. To cut down on delivery fees, it has started using a subscription-based business model. The business raised $350 million in April 2021, when its value was $1.5 billion, to become a unicorn. According to recent sources, API Holdings Ltd., the parent firm of PharmEasy, will likely receive an investment of Rs 2,700 crore from Goldman Sachs.
9. Nykaa
Nykaa is an online retailer that has broadened its product line to include clothes as well as cosmetics. The Mumbai-based business sells a range of skincare, health, and cosmetics goods online and through its app. Nykaa has worked with upscale brands and influencers, and as a result, is now creating a name for itself in the business. In 2020, it became a unicorn startup, and in 2021, its valuation was $2.3 billion. On its online marketplace, there are already over 200,000 items from 2000 both domestically and internationally.
10. Meesho
Meesho is a programme that enables people to resell items for less money. It is currently the most popular resale application. The social e-commerce business with headquarters in Bengaluru sells a variety of goods including clothing, electronics, cosmetics, home goods, and more. Meesho has established itself as a zero-investment resale platform for small companies. The business is concentrating on establishing its facilities in Hyderabad and bringing on retail vendors in Tier-II cities.
Conclusion
That concludes our list of top 10 Unicorn Startups in India. India just passed the landmark of 100 unicorns, moving up to third place globally behind China and the US. There will undoubtedly be a lot more unicorn startups introducing redefining breakthroughs that will aid other businesses in growing and communities in thriving. This is because innovation and technology are redefining the business landscape.
Also Read:
- List of Top 12 Startups in Mumbai
- Top 19 Startups in Hyderabad
- Top 10 Successful Startup Companies in India
Business Talk is a digital business magazine that caters to CEOs, Entrepreneurs, VC, and Corporates. While working with entrepreneurs and business executives, we focus not only on their achievements. Our mission is to shed light on business entities, including their innovations, technological benchmarks, USPs, and milestones/accolades.
