India saw the birth of two new unicorns this week – both their valuations have swelled multiple times in just a few months
- The two new
unicornsare Innovaccer, a healthtech firm, and Infra.market, a startup in the real estate space.
- While Innovaccer’s valuation jumped three times in seven months to $1.3 billion, Infra.market’s valuation was last known to be just $200 million in December 2020.
- While Innovaccer, founded in 2014, has raised a total of $225 million, the four-year old Infra.market has raised $150 million till date.
India added two new unicorns this week to its rapidly growing club of
View all Offers
View all Offers
Redmi 9A (Midnight Black, 2GB RAM, 32GB Storage) | 2GHz Octa-Core Helio G25 Processor₹ 6799₹ 8499Buy On
Redmi Note 10 (Aqua Green, 4GB RAM, 64GB Storage)₹ 13999₹ 15999Buy On
OnePlus Nord 2 5G (Blue Haze, 8GB RAM, 128GB Storage)₹ 29999₹ 29999Buy On
- 16% OFF
Oppo A16 (Pearl Blue, 4GB RAM, 64GB Storage) with No Cost EMI/Additional Exchange Offers₹ 13490₹ 16990Buy On
- 10% OFF
Redmi Note 10 Pro (Dark Night, 6GB RAM, 128GB Storage) -120hz Super Amoled Display|64MPwith 5mp Super Tele-Macro₹ 17999₹ 19999Buy On
Interestingly, both the companies have seen their valuations swell in just a matter of months, in a pandemic period.
Innovaccer’s valuation jumped three times in seven months to $1.3 billion and Infra.market’s valuation was last known to be $200 million in December 2020, and within three months its valuation has crossed a billion dollars.
AdvertisementThe startups are not like many other Indian companies who have raised billions of dollars. Instead, both the startups have achieved the status with minimal funding. While Innovaccer, founded in 2014, has raised a total of $225 million, the four-year old Infra.market has raised $150 million till date.
What does Innovaccer do?
Through a Data Activation Platform, Innovaccer connects healthcare data across verticals, and provides unified patient records as well as insights for better patient outcomes. The San Francisco-headquartered startup claims that by the end of 2021, it would have grown with a Compound annual growth rate (CAGR) of 5%.
Innovaccer was founded in 2014 by Indian Institute of Technology (IIT) graduates Sandeep Gupta, Abhinav Shashank and Kanav Hasija.
With the latest fundraise from Tiger Global Management and existing investors Steadview Capital, Dragoneer, B Capital Group, Mubadala Capital and M12 (Microsoft's Venture Fund), the startup will now be launching the Innovaccer Health Cloud – “a platform as a service that combines the company’s Data Activation Platform and application suite with an extensive set of platform services and tools that allow customers and partners to easily develop interoperable applications that improve patient outcomes and lower costs”.
“Over the last ten years, we have spent billions of dollars digitizing healthcare information with great success. That was step #1 of the journey. Now, we have troves of information on our health locked in electronic silos. We need to bring this information together using a cloud platform that not only unlocks the power of the data, but also provides a platform on which new digital services and solutions can be built with native interoperability,” said Shashank, co-founder and chief executive officer at Innovaccer in a statement.
What does Infra.market do?
AdvertisementBased out of Mumbai, Infra.market is targeting India’s booming real estate market. It helps construction companies procure materials as well as helps with the logistics of it. The startup was founded in 2016, by Indian Institute of Management (IIM) graduates Aaditya Sharda and Souvik Sengupta, counts the likes of Larsen & Toubro, Tata Projects and Ashoka Buildcon as its clients.
According to reports, Infra.market which was also hit by the pandemic and saw its businesses halt for two months during lockdown, has recovered quickly and is aiming for a $180 million annual run rate in FY21.
Infra.market’s series C funding round was led by Tiger Global and also saw participation from its existing investors Nexus Venture Partners, Accel Partners, Sistema Asia Fund, Evolvence India Fund, and Fundamental Capital GmbH.
Whatsapp, Signal and Telegram face a catch-22 situation as India’s new social media rules threaten encryption
A candid Kavin Mittal admits his mistakes as he reinvents Hike and plans fresh fundraising this year
Popular on BI
- Nykaa IPO will open today — here is how to apply via bank and apps like Zerodha, Paytm Money
- A CryptoPunk NFT bought for $74 resurfaced after four years and just sold for $2 million
- Best DIY wallpapers to revamp your house
- India's largest car maker loses nearly two thirds of its profit to chip shortage
- New Range Rover: Check out expected price in India, features and other details