There’s a reason why startups that are valued at $1 billion or more are called ‘Unicorns.’ Just like this legendary and mythical creature, the chances of achieving a $1 billion valuation are quite slim. In the Indian startup universe, however, there are quite a few unicorn companies that have managed to make their mark against all the odds.
Here’s a list of 5 Indian startups that have achieved the unicorn status in 2019. What’s praiseworthy is that they have accomplished this feat in record time. Let’s take a look:
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Top 5 Unicorn Startups of 2019
1. Ola Electric
Ola is one of the leading cab aggregators in India, and already a well funded Unicorn for a long time. Well established Unicorn companies giving birth to a new Unicorn startup is nothing new. Ola Electric is their new EV startup that has managed to raise a whopping $250M with Softbank’s series B funding. To raise such a massive amount in July 2019 (just five months after its incorporation in March 2019) is something of a speed record in itself.
Some of the most prominent investors like Tiger Global, Matrix Partners, and Ratan Tata had also invested around INR 400Cr ($56M) in Ola Electric earlier. It certainly indicates the surging popularity and growth of the Indian EV industry.
With a valuation of $1 billion now, Ola electric is involved in several large scale projects including battery stations, charging solutions, and creating innovative systems for seamless operations of electric vehicles in India.
2. Big Basket
This Bangalore based startup is one of the fastest-growing local grocery delivery services in India, offering a convenient grocery shopping experience online. Big Basket has recently entered into the Unicorn club after receiving a funding of $150M in series F round.
Since its inception in 2011 by founders VS Sudhakar, Vipul Parekh, Hari Menon, Abhinay Choudhuri, and VS Ramesh, Big Basket has come a long way. Over the years, it has diversified to include cosmetics, household items and much more.
Some of their major Investors include Alibaba, Helion Venture Partners, PayTm Mall, Mirae Asset Global Investments from South Korea, and the UK’s CDC group.
With a valuation of $1.5 billion, Delhivery is a new Unicorn company in India. The Gurugram based logistic startup offers services in over 600 Indian cities. With 500 million successful transactions and more than 10,000 customers, including both large scale brands and SMEs, Delhivery has become one of the largest logistics companies in the market within a short period.
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4. Dream 11
With $60 million funding from Steadview Capital, Mumbai based Fantasy gaming startup Dream 11 has earned the reputation of being the first gaming Unicorn of India. Founded by Harsh Jain and Bhavit Sheth in 2008, Dream 11 is growing at a rapid pace and has over 50 million registered users. Dream 11’s offerings include fantasy gaming in sports like cricket, Kabaddi, NBA, and football, among others.
Formerly known as Truck First, this Gurugram based start-up has revolutionized logistics in India with its unique relay trucking model. With a fleet of more than 2100 vehicles and operations in over 150 locations, Rivigo is a highly innovative and technology-driven service provider to e-commerce businesses, automobile, pharmaceutical, and FMCG companies across India.
Relay trucking model with its AI and machine learning capabilities is one of a kind. This technology allows the company to replace drivers en route so that the trucks can reach their destination without having to stop anywhere on the way.
Founded by Deepak Garg and Gazal Kalra in 2014, Rivigo is one of the newest entrants in the Unicorn league after receiving funding from South Korea based KG Global Platform Fund in September 2019.
These are some of the Indian companies that have struck gold and entered into the coveted unicorn club in 2019. For more inspirational stuff, follow us on Facebook, Twitter, and LinkedIn or subscribe to our newsletter.