India is a developing country which gives startup chance to grow at a fast. Here are Top 3 Indian Start-Ups that Entered into Unicorn Phase 2021.
What is a Unicorn?
In enterprise, a unicorn is a privately held startup company valued at over $1 billion. The word was first popularised in 2013 by venture capitalist Alleen Lee selecting the mythical animal to describe the rarity of successful startups.
Meesho
Meesho functions as an online reselling platform that enables anyone to start a business without investment. Meesho is a business platform trusted by more than 2.6 million resellers across India. The company was established in 2015 by Vidit Aatrey and Sanjeev Barnwa and is headquartered in Bangalore, Karnataka.
The business claims to have reported 100K registered suppliers to around 26K postal codes across 4,800 cities, generating over INR 500 Cr ($68 Mn at current conversion rate) in income for individual entrepreneurs. It has raised $415 Mn funding to date, from investors like SoftBank, Prosus Ventures, Facebook, Shunwei Capital, Venture Highway, and Knollwood Investment.
PharmEasy
PharmEasy offers 1 lakh+ medicine and health products across various categories through its retail partners which are spread across the country. You can simply place an order on our website/app and we will deliver your online medicine order in as low as 4 hours, with guaranteed delivery to you in 24-48* hrs!
PharmEasy was founded in 2015 by Dharmil Sheth and Dr. Dhaval Shah. The company raised $323 Mn in a Series E funding round, at a valuation of $1.5 Bn. Notably, it is the first Indian epharmacy unicorn.
CRED
CRED is a members-only club that rewards individuals for their timely credit card bill payments by providing them with exclusive offers and access to premium experiences. It is a platform that allows credit card users to manage multiple cards along with an analysis of their credit score.
With only INR 57 Lakh ($76K, at current conversion rate) as operating revenue in the financial year 2020, Kunal Shah-led fintech platform CRED entered the unicorn club at a whopping valuation of $2.2 Bn.
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