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9 Successful Unicorns in India

Unicorn companies are startups that have achieved a valuation of $1 billion or more. Here is the list of 9 successful unicorns in India.

Emerging unicorns in India
Unicorns in India

These startups have managed to gain massive amounts of outside funding and have a track record of success.

InMobi

When ever people will talk about Unicorns in India the first name will come about InMobi, the first Unicorn of India. It is a mobile advertising agency that specializes in monetizing a mobile app’s full lifecycle. Founded in 2006 byNaveen Tewari, Mohit Saxena, Amit Gupta and Abhay Singhal, as mKhoj. InMobi has Headquarter in Bangalore, India. It has presence in San Francisco, New York City, London, Beijing, Tokyo.

InMobi is a mobile advertising agency that specializes in monetizing a mobile app’s full lifecycle. InMobi is the world’s leading Marketing Cloud, driving real connections between brands and consumers.

Flipkart

Flipkart is an Indian startup that was founded in 2007 by Sachin Bansal and Binny Bansal. Later owned by Walmart. The company is famous for being the largest retailer in India, as well as one of the country’s most successful startups. Currently, Flipkart has a valuation of $37.6 billion, making it one of the few Indian unicorns.

Paytm

One97 Communications Ltd (Paytm) is one of India’s most successful unicorn startups. It has a valuation of $10 billion and is led by the founder, Vijay Shekhar Sharma. This mobile payments and commerce platform was founded in 2010. The company went Public in 2021, at valuation of 1.39 trillion.

BharatPe

BharatPe is an Indian digital payments app, merchant aggregator, and payments platform that encourages digital payments via QR and POS. Co-founded by Ashneer Grover and Sashvat Nakrani in 2018, Headquartered in New Delhi, India, the company tripled its valuation to $2.85 billion and joined the unicorn club on August 4, 2021. Currently its valuation is around 3.8 – 4 billion Dollar

PhonePe

PhonePe is an Indian electronic wallet service and digital payments company. It was founded in 2015 by CEO Sameer Nigam, COO Rahul Chari, and CTO Amod Malviya. In April of 2018, the company was valued at $3 billion.

The company has grown exponentially in a very short period of time. It experienced 18000% growth in 2016-2017 and 400% annual revenue growth in 2017-2018.

What propelled PhonePe to success? The team behind the service believes that their achievement can be attributed to three main things: firstly, meeting a clear market need for a better way to transact online; secondly, their focus on customer experience and providing customers with frictionless cashless payment solutions; thirdly, their relentless pursuit of innovation in solving customer problems.

BYJU’S

BYJU’S is an ed-tech startup, founded by Byju Raveendran and Divya Gokulnath in 2011 in Bangalore. It offers video based learning solutions. The company has a valuation of $22 billion, making it one of the most valuable startups in India. BYJU’S has more than 10 million registered learners and offers over 300+ courses.

OLA Cabs

Ola is India’s largest mobility platform and one of the world’s largest ride-hailing companies, serving 250+ cities across India, Australia, New Zealand, and the UK. Founded by Bhavish Aggarwal and Ankit Bhati‎ in 2010. It provides a technology platform to allow customers to book taxis, autos and bikes. Ola’s user base was estimated at over 100 million user base. The company is present in 110+ cities across India and provides more than 1.5 million driver-partners with jobs.

Ola subsidiary OLA Electric has launched Electric bikes in 2021. January 24th, 2022: Ola Electric, India’s leading manufacturer of EVs, has announced that it has raised over $200 million from Tekne Private Ventures, Alpine Opportunity Fund, Edelweiss and others.

OYO

Among all the unicorns in India, Oyo was founded by a 19yr old boy named Ritesh Agarwal the youngest Indian founder in 2013. It is the India’s largest hospitality startup comprises of budget hotels. OYO Rooms is an online hotel booking platform. Starting with just 1 hotel in 2013 in Gurgaon, in July 19, they were in more than 800 cities, with more than 23,000 hotels, 850,000 rooms, and 46,000 vacation homes, worldwide.

Oyo Hotels is eyeing a valuation of about $9 billion (Rs 66,700 crore) in its initial public offering after preliminary conversations with potential investors, according to people familiar with the matter.

Nyka

Nykaa, India’s First Women-led Profitable Unicorn’s Valuation Surges to Rs 1 lakh Crore, is an Indian beauty and lifestyle e-commerce Company. It is founded by Falguni Nayar in 2012 and headquartered in Mumbai. Nykaa has since become the leading online beauty store in India with a focus on brands like L’Oréal, Maybelline, Revlon, and more.

The Company  launched IPO on October 28, seeks valuation of $7.4 billion

Closing Statement about Unicorns in India

India is the land of unicorns. From the 2000s to date, we have seen many rising unicorns in India and with the current growth of the Indian economy, it is expected that there will be more unicorns in future.

The following list includes some of the most noteworthy startups in India that have achieved unicorn status and are leading it to greater heights.

Sources:  LiveMintWikipedia, Oyorooms