Unlike the US or China, where achieving a billion-dollar company is so common, Indian entrepreneurs love to celebrate after achieving a billion-dollar valuation. The main reason for this celebration is that the Indian ecosystem emerged much later than the US or China. According to the report, the US and China have more than 423 and 165 unicorns respectively. However, India is also slowly catching up to the speed of these developed countries. India has more than 110 unicorns.
Some startups take time to become unicorns well, some take a few months to become unicorns. Here we will see some fastest Unicorn Startups in India.
Over the past few years the Indian D2C market has experienced significant growth, largely driven by the rise in Internet penetration and largely driven by the rise in internet usage and changes in customer purchase behavior induced due to the pandemic.
10 Most Popular Fastest Unicorn Startups in India
Here is the list of the Best Fastest Unicorn Startups in India
1. Mensa Brands
Mensa Brands was founded by Ananth Narayanan in 2021, It is one of the fastest-growing Unicorn startups.
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It has secured more than $135 million in its Series B funding round, which is led by multiple investors such as Alpha Wave Ventures and Falcon Edge Capital.
2. Glance
Bengaluru-based Glance is a platform that provides Al-driven personalized content, it entered into the unicorn club in just 18 months of connecting its operations.
It is available in various languages such as Tamil, English, Hindi, and Telugu as well as the Indonesian language. It was fonded by Naveen Tewari in 2019.
3. Paytm Mall
Paytm Mall was also the third-fastest startup which has achieved unicorn status after 19 months of its operation. It was founded by Vijay Shekhar Sharma.
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It is an e-commerce platform where they offer multiple products such as beauty and personal care, sports and health, home and kitchen, mobile phones, appliances, laptops and electronics, cars and bikes, and FASTag.
4. Udaan
Udaan is a Banglore-based startup founded by three ex Flipkart employees Amod Malviya, Vaibhav Gupta, and Sujeet Kumar. It is a B2B e-commerce platform.
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The platform extends the advantage of online commerce to manufacturers, suppliers, traders, and wholesalers in smaller towns. The platform has successfully on board 30 lakh retailers, and 25K sellers, and operates in 900 cities. Udaan has achieved Unicorn status just after 22 months.
5. Ola Electric
Bangalore-based Ola Electric is one of the top manufacturers of electric vehicles. It was founded by Bhavish Aggarwal who also founded Ola cabs.
It was started with a mission to transition the world towards sustainable mobility by producing cutting-edge electric vehicles at its Futurefactory. Ola Electric entered the unicorn club just after 25 months of its operation by securing its $250 Mn in Series B round from SoftBank in 2019. The company has launched two e-scooters S1 and S1 Pro.
6. CoinDCX
CoinDCX is a Mumbi-based cryptocurrency exchange platform founded by Sumit Gupta and Neeraj Khandelwal in 2017.
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The platform offers extensive liquidity, a powerful wallet, and top-notch security to ensure that the trading experience is fast, reliable, and effortless. CoinDCX entered into the unicorn club just after securing $90 Mn in a Series C funding round which is led by Facebook cofounder Eduardo Saverin and others. Just after 42 months of its operation, its valuation became $1.1 Bn.
7. CRED
Bangalore-based CRED is a platform founded by Kunal Shah. It is the second venture of FreeCharge. It helps credit card owners to conveniently pay bills with the help of their app, and earn coins and gems.
These virtual coins can be redeemed in various areas such as coffee shops, movie theatres, e-commerce sites, and others. It becomes a unicorn after securing $215 Mn in its Series D round. It becomes unicorn at a valuation of $2.2 Bn.
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8. BharatPe
New Delhi-based BharatPe was founded in 2018 by Ashneer Grover and Shashvat Nakrani. It has launched India’s first UPI interoperable QR code, the first ZERO MDR payment acceptance service, and the first UPI payment-backed merchant cash advance service.
The platform has entered into the unicorn club at a valuation of $2.85 Bn. It is backed by multiple investors such as Tiger Global and others.
9. MPL
Bengaluru-based MPL is a skill-based e-sport platform founded by Sai Srinivas Kiran G and Shubh Malhotra. It entered into the unicorn club just after raising $150 Mn in its Series E round.
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MPL takes 39 months to become a unicorn at a valuation of $2.3 Bn. Some of its investors are Accrete Capital, Gaingels LLC, Legatum Capital, and others.
10. Apna
Apna is a Bangalore-based start-up founded by Nirmit Parikh. The platform uses a technology-driven strategy to use the power of communities and facilitate access to improved job opportunities and entrepreneurship for millions of Apna’s users.
It becomes a unicorn just after 28 months of operation and becomes one of the youngest unicorns.
Conclusion
These unicorn start-ups represent a dynamic and thriving ecosystem, which shows the potential of the country in innovation and entrepreneurship. These startups disrupted the traditional ways and with the help of technology and unique approaches, these industries become successful.
Frequently Asked Questions (FAQs)
What is the rank of India in unicorns worldwide?
India ranked 3rd in the unicorn list.
Who founded Apna?
It is founded by Nirmit Parikh.
which are the Top 10 Fastest Unicorn Startups in India?
Mensa Brands, Glance, Paytm Mall, Udaan, BharatPe, MPL, CRED, Apna, CoinDCX, and Ola Electric are the Top 10 Fastest Unicorn Startups in India.
