Unicorns in India: List of startup companies with unicorn status in 2024

In the dynamic world of startups, a rare breed emerges now and then—unicorn startups. These extraordinary ventures have captivated the business world, capturing our imaginations with exceptional achievements. India, with its vibrant entrepreneurial spirit and booming startup ecosystem, has witnessed the rise of numerous unicorn startups that are revolutionising industries, reshaping markets, and making their mark on the global platform.

As of May 2022, the Indian Startup Ecosystem, ranking third globally in terms of unicorn count, has reached a milestone of 100 unicorns, collectively valued at $332.7 billion. In today's fast-paced and dynamic economy, Indian Unicorns are thriving. These startups are not only creating groundbreaking solutions and technologies but also fueling significant job growth.

This article will take you on a  journey through the realm of unicorns in India, showcasing the innovative powerhouses that have achieved remarkable valuations and captured the attention of investors worldwide. We will explore the sectors they operate in, the groundbreaking solutions they offer, and the impact they have on the Indian economy and society.

Also Read: Angel investors: What is angel investing and how does it work?

What is a unicorn startup?

A unicorn startup is a term used to describe a privately held startup company with a valuation of over $1 billion. The term was coined by Aileen Lee, a venture capitalist, choosing the mythical animal to represent the statistical rarity of such successful ventures.

Unicorn startups are often innovative and disruptive companies that operate in various sectors, such as technology, e-commerce, finance, healthcare, and more. They typically experience rapid growth and attract significant investment from venture capitalists and other investors. These companies often leverage advanced technologies, business models, or market strategies to gain a competitive edge and capture a large market share.

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The concept of unicorn startups has gained prominence in the startup ecosystem as a measure of success and potential. Unicorns in India are seen as game-changers in their respective industries and have the potential to reshape markets or create new ones. Examples of well-known unicorn startups include BYJU's, Swiggy, OYO Rooms, Dream11, Razorpay, and Ola Cabs.

List of Startup Companies with Unicorn Status in India (Latest)

No	Company	Sector	Entry Valuation ($B)	Entry
104	InCred Finance	NBFC	1.04	Nov-2023
103	Zepto	Quick commerce	1.4	Aug-2023
102	Molbio Diagnostics	Healthtech	1.53	Sep-2022
101	Shiprocket	Aggregator	1.23	Aug-2022
100	OneCard	Fintech	1.3	Jul-2022
99	Leadsquared	SaaS	1	Jun-2022
98	Purplle	E-Commerce	1.1	Jun-2022
97	PhysicsWallah	Edtech	1.1	Jun-2022
96	Open Financial Technologies	Fintech	1	May-2022
95	Games24x7	Gaming	2.5	Mar-2022
94	Oxyzo Financial Services	Fintech	1	Mar-2022
93	Amagi Media Labs	SaaS	1	Mar-2022
92	CredAvenue	Marketplace	1.3	Mar-2022
91	Hasura	SaaS	1	Feb-2022
90	Uniphore Software Systems	SaaS	2.5	Feb-2022
89	XpressBees Logistics	Logistics Services	1.2	Feb-2022
88	LivSpace	Interior Design	1.2	Feb-2022
87	ElasticRun	Logistics Services	1.4	Feb-2022
86	Polygon	Web3 Infrastructure	10	Feb-2022
85	DealShare	E-Commerce	1.62	Jan-2022
84	DarwinBox	SaaS	1	Jan-2022
83	LEAD School	Edtech	1.1	Jan-2022
82	Fractal	SaaS	1	Jan-2022
81	GlobalBees	Aggregator	1.1	Dec-2021
80	Mamaearth	D2C	1.07	Dec-2021
79	Pristyn Care	Healthtech	1.4	Dec-2021
78	Slice	Fintech	1	Nov-2021
77	Upstox	Fintech	3.4	Nov-2021
76	Spinny	Marketplace	1.5	Nov-2021
75	NoBroker	Proptech	1	Nov-2021
74	Mensa Brands	Aggregator	1.2	Nov-2021
73	CureFit	Healthtech	1.5	Nov-2021
72	The Good Glamm Group	D2C	1.2	Nov-2021
71	Acko	Fintech	1.1	Oct-2021
70	Cardekho	Marketplace	1.2	Oct-2021
69	Rebel Foods	Foodtech	1.4	Oct-2021
68	CoinSwitch	Cryptocurrency Exchange	1.9	Oct-2021
67	Licious	D2C	1	Oct-2021
66	Vedantu	Edtech	1	Sep-2021
65	Apna.co	Marketplace	1.1	Sep-2021
64	Mobile Premier League	Gaming	2.3	Sep-2021
63	Zetwerk	Marketplace	1	Aug-2021
62	Blinkit	E-Commerce	1	Aug-2021
61	Eruditus	Edtech	3.2	Aug-2021
60	CoinDCX	Cryptocurrency Exchange	1.1	Aug-2021
59	upGrad	Edtech	1.2	Aug-2021
58	MindTickle	SaaS	1.2	Aug-2021
57	BharatPe	Fintech	2.8	Aug-2021
56	OfBusiness	NBFC	1.5	Jul-2021
55	Droom	Marketplace	1.2	Jul-2021
54	BlackBuck	Logistics Services	1	Jul-2021
53	BrowserStack	SaaS	4	Jun-2021
52	Zeta	Fintech	1.4	May-2021
51	Moglix	B2B E	1	May-2021
50	Urban Company	Marketplace	2.1	Apr-2021

Source: Venture Intelligence

Unicorns in India exemplifies its startup ecosystem's entrepreneurial drive and potential. These innovative companies are revolutionising industries, addressing societal challenges, fueling economic growth, and generating employment opportunities.

Despite regulatory obstacles and fierce competition, both the Indian government and the business sector are actively supporting startups. The influence of unicorns in India has had a massive impact on its economy, and society is set to persist, with more pioneering enterprises aspiring to attain this esteemed status in the times ahead.

Also Read: Top 10 companies in India by market valuation in 2024

Frequently Asked Questions( FAQs)

1. What are the important factors that contribute to a startup becoming a unicorn?

Unicorns in India are typically characterised by disruptive innovation, scalability, market demand, strong leadership, successful funding rounds, and rapid growth milestones. They often leverage advanced technologies, capture a significant market share, and demonstrate the potential for long-term sustainability and profitability.

2. How do unicorns in India impact the economy and industries they operate in?

Unicorns in India play an outsized role in driving economic growth and innovation, not just because of their scale but the hype and buzz they generate. They create job opportunities, attract investments, disrupt traditional industries, introduce new technologies and business models, and contribute to the overall transformation of markets. Their success often inspires entrepreneurship and fosters a culture of innovation within the startup ecosystem.

3. Are all unicorn startups profitable?

While unicorns in India have achieved high valuations, not all are immediately profitable. Many unicorn companies prioritise rapid growth and market dominance over short-term profitability. They often reinvest their revenues into scaling operations, expanding market reach, and developing new products or services. Profitability goals may vary across different stages of a startup's growth trajectory.

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