These three Indian startups feature in the 50 global future unicorns list
- According to the latest report from global data intelligence firm CB Insights, there are three Indian
startupsthat have made it to the 50 global future unicornslist.
- In 2019 alone, India added 9 new unicorns to its list.
- Here’s a look at the three startups that got featured in the list.
AdvertisementIndia is home to the third largest startup ecosystem in the world and is home to 30 unicorns. In 2019 alone, India added 9 new unicorns to its list and there are many more that fall under the soonicorns or soon to be unicorns list.
According to the latest report from global data intelligence firm CB Insights, there are three Indian startups that have made it to the 50 global future unicorns list. A unicorn is a startup with a valuation of over $1 billion.
Total funding: $145 million
Earlier this year as the coronavirus pandemic began. CRED had launched new features like CRED RentPay which allows members to pay monthly rent with their credit cards and CRED Stash, which claimed to be “designed to be the fastest, most seamless and fully digital way to get credit in India”.
It raised funds twice in 2019 alone – $125 million series A round and $120 million series B funding from Sequoia, Ribbit Capital and more. Its last known valuation from August 2019 is $450 million.
Total funding: $101 million
The Ratan Tata-backed B2B e-commerce platform is also touted to be one of the next unicorns from India. The startup specialises in procurement of industrial products such as MRO (manufacture, repair and operating supplies), fasteners, electrical, hardware, pneumatics and safety items among others.
Founded by Rahul Garg in 2015, the company has also raised funds from International Financial Corporation (IFC), Accel Partners, Jungle Ventures, Venture Highway, SeedPlus and Rocketship.vc. Garg is the former head of advertising exchange at Google Asia.
Its last known valuation from July 2019 is $300 million.
Total funding:$106 million
The edtech startup is one of the companies that has been enjoying the boom of online learning due to the coronavirus pandemic. During the lockdown, Vedantu added 6.5 lakh subscribers. “Vedantu’s collections and revenues (in March) grew by 80% over the previous month, achieving the highest growth over the collective last 2.5 years,” the company had said.
In April 2020, the company raised funding in two tranches – $12.6 million and $7 million for a Series C round. Its last reported valuation is $280 million.
Vedantu's founders Vamsi Krishna, Anand Prakash, and Pulkit Jain had their first tryst with startups with the edtech company Lakshya in 2006. It was later acquired by MT Educare (Mahesh Tutorials) in 2012. Vedantu was founded in 2011 with the idea to provide an online tutoring platform.
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