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Unicorn startups are privately held startup companies that have reached a valuation of $1 billion or more. The term “unicorn” was first coined in 2013 by venture capitalist Aileen Lee to describe the rarity of such companies.
Unicorn startups are typically innovative companies that have disrupted traditional industries or created entirely new ones. They are often technology-focused and have rapidly scaled their businesses with the help of large amounts of venture capital funding.
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Unicorn Startup of India
Some well-known unicorn startups include Uber, Airbnb, SpaceX, Palantir Technologies, and WeWork. These companies have all achieved incredible success by leveraging technology to create new business models and disrupt established industries.
While becoming a unicorn startup is a significant achievement, it’s important to note that not all unicorns are successful in the long run. Some companies fail to sustain their growth or run into operational and financial difficulties, leading to a decline in their valuations. Nonetheless, unicorn startups continue to be a symbol of innovation and entrepreneurial success in the startup world.
List of Top 10 Profitable Unicorn Startups in India in 2023
As an AI language model, I don’t have access to real-time financial data and news. However, here are some of the top unicorn startups in India that were profitable as of my knowledge cutoff date of September 2021, and may still be profitable in 2023:
BillDesk is a financial technology company based in India that provides digital payment solutions to businesses and consumers. The company was founded in 2000 by three entrepreneurs – M.N. Srinivasu, Ajay Kaushal, and Karthik Ganapathy – and has since grown to become one of the leading payment gateway providers in India.
BillDesk’s platform enables businesses to accept payments online through multiple channels such as credit and debit cards, net banking, and mobile wallets. It also provides solutions for recurring payments, invoice management, and collections.
In addition to its business solutions, BillDesk also offers a consumer-facing mobile app that allows users to pay bills, recharge mobile phones, and make other transactions. The company has partnerships with over 500 banks and financial institutions in India and has processed over a billion transactions since its inception.
In 2021, it was reported that BillDesk was exploring an initial public offering (IPO) that could value the company at up to $2 billion. The company’s success and growth reflect the increasing adoption of digital payments in India and the potential for fintech companies to disrupt traditional financial services.
Bill Desk Official Website:- https://www.billdesk.com/
Dream11 is a fantasy sports platform based in India that allows users to create virtual teams of real-life players and compete against each other for points based on the players’ actual performance in live matches. The platform covers a variety of sports, including cricket, football, basketball, kabaddi, and hockey.
Dream11 was founded in 2008 by Harsh Jain and Bhavit Sheth and has since become the largest fantasy sports platform in India, with over 100 million registered users. The platform has also expanded internationally, with operations in countries such as the United States, Australia, and the United Kingdom.
In addition to its fantasy sports offerings, Dream11 has also launched several other gaming and esports products, including Gamezy, a mobile gaming app, and FanCode, a sports content and commerce platform.
Dream11 has raised over $1 billion in funding from investors such as Tencent, Steadview Capital, and Tiger Global Management. In 2020, the company became the title sponsor of the Indian Premier League (IPL), one of the world’s largest and most lucrative cricket leagues. The success of Dream11 and other fantasy sports platforms in India reflects the growing popularity of online gaming and the potential for digital entertainment to disrupt traditional industries
Dream11 Official Website:- https://www.dream11.com/
Zerodha is a financial technology company based in India that offers an online platform for investing in stocks, mutual funds, bonds, and other financial instruments. The company was founded in 2010 by Nithin Kamath and has since become one of the largest retail brokerage firms in India, with over 4 million customers.
Zerodha’s platform offers a range of services, including trading in equities, commodities, and currency derivatives, as well as direct mutual fund investments. The platform also offers educational resources and tools to help users make informed investment decisions.
One of the key features of Zerodha’s platform is its low-cost model, which charges customers a flat fee per trade, rather than a percentage of the trade value. This has made the platform popular among small and individual investors, who may not have access to traditional brokerage services.
In addition to its retail brokerage services, Zerodha also offers a suite of products for professional traders, such as trading algorithms and data analytics tools.
Zerodha has been profitable since its early days and has achieved significant growth without relying on external funding. In 2020, the company announced that it had become the first retail brokerage firm in India to process over Rs 1 trillion ($13.7 billion) in daily trading turnover. The success of Zerodha reflects the growing demand for accessible and affordable investment platforms in India.
Zerodha Official Website:- https://zerodha.com/
Zoho Corporation, also known as Zoho, is a software company based in India that offers a suite of web-based business tools and applications. The company was founded in 1996 by Sridhar Vembu and Tony Thomas and has since grown to become one of the largest software companies in India, with over 60 million users worldwide.
Zoho’s platform includes a range of business applications, such as email, CRM, project management, accounting, and human resources management. The company offers both free and paid versions of its products, and its software is used by businesses of all sizes, from small startups to large enterprises.
One of the key features of Zoho’s platform is its integration capabilities, which allow users to connect and automate workflows across different applications. The company also offers customization options, allowing users to tailor the software to their specific business needs.
Zoho has achieved significant growth without relying on external funding and has been profitable since its early days. The company’s success reflects the growing demand for web-based business tools and the potential for software-as-a-service (SaaS) companies to disrupt traditional enterprise software markets.
In addition to its business applications, Zoho also offers a range of other products, such as web hosting services and mobile app development tools. The company has expanded its operations internationally and has offices in the United States, Europe, and Asia.
Zoho Official Website:- https://www.zoho.com/
EaseMyTrip is an Indian online travel company that provides travel-related services such as flight tickets, hotel bookings, holiday packages, and car rentals. The company was founded in 2008 by Nishant Pitti and Rikant Pitti and has since become one of the leading online travel agencies in India.
EaseMyTrip’s platform allows users to search and compare prices for flights and hotels from different providers, and to book their travel arrangements directly through the website or mobile app. The company also offers a range of payment options, including credit and debit cards, net banking, and mobile wallets.
One of the key features of EaseMyTrip’s platform is its low-cost model, which charges users lower fees than traditional travel agencies or booking websites. This has made the platform popular among budget-conscious travelers, who may be looking for affordable travel options.
In addition to its online platform, EaseMyTrip also operates a network of offline travel agencies across India, providing customers with personalized assistance and support.
EaseMyTrip has been profitable since its early days and has achieved significant growth without relying on external funding. In 2021, the company announced that it had processed over 10 million flight bookings since its inception. The success of EaseMyTrip reflects the growing demand for online travel services in India and the potential for digital disruptors to challenge traditional travel agencies.
EaseMyTrip Official Website:- https://www.easemytrip.com/
Gupshup is a messaging and conversational AI platform based in India that provides tools for businesses to build and deploy chatbots and messaging applications. The company was founded in 2004 by Beerud Sheth and has since become one of the leading messaging platforms in India, with over 4 billion messages processed per month.
Gupshup’s platform allows businesses to build chatbots and messaging applications that can interact with customers in real time, providing information and support on a range of topics. The platform also includes tools for analytics and reporting, allowing businesses to track engagement and performance metrics for their messaging applications.
In addition to its messaging tools, Gupshup has also developed a range of conversational AI technologies, such as natural language processing and machine learning algorithms, to improve the accuracy and effectiveness of its chatbots and messaging applications.
Gupshup’s platform is used by businesses across a range of industries, including e-commerce, financial services, and healthcare, to improve customer engagement and streamline customer service operations.
The company has raised over $150 million in funding from investors such as Tiger Global Management and Microsoft and has expanded its operations internationally, with offices in the United States, the United Kingdom, and Singapore. The success of Gupshup reflects the growing demand for messaging and conversational AI technologies in India and the potential for digital disruptors to transform traditional industries.
Gupshup Official Website:- https://www.gupshup.io/en/
Infra. The market is a Mumbai-based B2B (business-to-business) online platform that provides end-to-end solutions for construction materials and related services. The company was founded in 2016 by Souvik Sengupta and Aaditya Sharda and has since become one of the leading players in the construction materials market in India.
Infra. Market’s platform offers a range of services, including procurement, logistics, financing, and quality control, to help construction companies and contractors optimize their supply chain and reduce costs. The company’s technology-enabled approach allows it to offer a seamless and transparent experience to its customers, with real-time tracking and monitoring of materials and shipments.
One of the key features of Infra. The market’s platform is focused on quality control and standardization of materials. The company works directly with manufacturers and suppliers to ensure that the materials used in construction projects meet industry standards and are of consistent quality.
Infra.The market has achieved significant growth since its inception and has raised over $100 million in funding from investors such as Tiger Global Management and Nexus Venture Partners. The company’s success reflects the growing demand for digital platforms in the construction materials market and the potential for technology to improve efficiency and transparency in traditional industries.
Infra.Market Official Website:- https://infra.market/
Shiprocket is an Indian logistics and supply chain management platform that provides e-commerce businesses with a range of services for shipping and order fulfillment. The company was founded in 2017 by Saahil Goel and Gautam Kapoor and has since become one of the leading players in the Indian e-commerce logistics market.
Shiprocket’s platform allows businesses to manage their entire logistics and supply chain operations through a single dashboard, including shipping, tracking, and order management. The company partners with a range of logistics providers to offer fast and reliable shipping options at competitive rates, and also provides value-added services such as packaging and COD (cash on delivery) management.
One of the key features of Shiprocket’s platform is its focus on automation and technology-enabled solutions. The company uses machine learning algorithms and AI-powered tools to optimize shipping routes and reduce delivery times, while also providing real-time tracking and monitoring of shipments.
Shiprocket’s platform is used by businesses of all sizes, from small startups to large enterprises, and has helped thousands of e-commerce sellers to streamline their logistics operations and improve customer satisfaction.
The company has raised over $50 million in funding from investors such as Tribe Capital and March Capital and has expanded its operations internationally, with offices in Singapore and Dubai. The success of Shiprocket reflects the growing demand for digital logistics platforms in the e-commerce market and the potential for technology to transform traditional supply chain operations.
Shiprocket Official Website:- https://www.shiprocket.in/
Mamaearth is an Indian personal care brand that offers a range of natural and toxin-free products for babies, kids, and adults. The company was founded in 2016 by Varun Alagh and Ghazal Alagh and has since become one of the leading players in the Indian personal care market.
Mamaearth’s products are made from natural and organic ingredients and are free from harmful chemicals such as sulfates, parabens, and phthalates. The company’s product range includes skin care, hair care, and baby care products, as well as wellness supplements and hygiene products.
One of the key features of Mamaearth’s brand is its commitment to sustainability and environmental responsibility. The company uses eco-friendly packaging materials and has implemented a number of initiatives to reduce its carbon footprint and promote sustainable practices.
Mamaearth’s products are sold both online and offline, through its own website as well as e-commerce platforms such as Amazon and Flipkart. The company has achieved significant growth since its inception and has raised over $80 million in funding from investors such as Sequoia Capital and Fireside Ventures.
The success of Mamaearth reflects the growing demand for natural and organic personal care products in India, as well as the potential for digital disruptors to challenge established players in traditional industries.
Mamaearth Official Website:- https://mamaearth.in/
Nykaa is an Indian beauty and wellness e-commerce platform that offers a wide range of cosmetic, skincare, hair care, and personal care products from top brands, as well as its own private label products. The company was founded in 2012 by Falguni Nayar and has since become one of the leading players in the Indian e-commerce market.
Nykaa’s platform offers a range of services, including product reviews and recommendations, personalized beauty advice, and virtual try-on tools, to help customers make informed purchasing decisions. The company also operates a chain of physical stores in India, offering customers a hybrid shopping experience.
One of the key features of Nykaa’s platform is its focus on inclusivity and diversity. The company offers a range of products that cater to different skin tones and types and has launched a number of initiatives to promote body positivity and self-care.
Nykaa has achieved significant growth since its inception and has raised over $700 million in funding from investors such as TPG, Steadview Capital, and Fidelity. The company’s success reflects the growing demand for e-commerce platforms in India, as well as the potential for technology to transform traditional industries such as retail and beauty.
Nykaa Official Website:- https://www.nykaa.com/
Unicorn Startup of India FAQ’s
They were joined by Drawinbox, DealShare, Livspace, XpressBees, Purplle, ShipRocket, Tata 1mg, Oxyzo, Games24x7, Molbio Diagnostics and OneCard. The report also mentioned the top five unicorns of January 2023 based on their total valuation and raised capital.
According to a report by PwC, there were a total of 85 active startups in India at the end of 2022. This means only 15% of the total unicorn startups are profitable. The most profitable amongst these unicorns is Molbio Diagnostics, a company founded in 2012.
Prashant Singh is Founder and Lead Author of UDYOG MANTRA , having MBA post graduate degree. We provide business growth consultant, business expantion, providing information about distributorship, dealership, franchise through udyogmantra.in