In business, a unicorn refers to a privately held startup company with a valuation of over USD 1 billion. As of 5th May 2022, India is proudly home to 100 unicorns with a total valuation of USD 332.7 billion. The years 2021, 2020, and 2019 saw the birth of the maximum number of Indian unicorns. Here are ten of the most flourishing ones:
Paytm – It is the largest among all Indian unicorn startups. It makes up for approximately 11.63% of India’s digital payment market share and allows consumers to make payments smoothly to sellers directly from their bank accounts.
OYO – Founded by Ritesh Agarwal in 2013, the startup works in liaison with existing hotels and offers travellers vacant rooms at a cheaper price.Besides bulk renting hotels, they have also invested in their own properties.
Byju’s – Set up by Byju Raveendran in 2011 using a freemium model, Byju’s offers online tutoring and coaching services. Over 15 million students worldwide use this platform, with over 900,000 paid subscribers.
Ola – It is India’s largest mobile app that allows one to discover, book, and pay for rides seamlessly. The unicorn was set up in 2011 by Ankit Bhati and Bhavish Aggarwal. Today, Ola provides services in 250+ cities across India, Australia, New Zealand, and the UK.
Zomato – Founded by Pankaj Chaddah and Deepinder Goyal in 2008, Zomato is a storehouse of information about restaurants – menus, user reviews, and factual information. It also offers food delivery from restaurants in the cities it serves.
Nykaa – Falguni Nayar set up this cosmetic e-giant back in 2012. The company offers a variety of cosmetics, skin and wellness products through its app and website.
It is hoped that India will add many more unicorns to its entrepreneureal cap in the years to come!