With Rivigo joining the club, these are the 8 unicorns of 2019 so far
Rivigois the latest startup to attain the $1 billion valuation.
- This year, India has already seen 8
startupsjoining the unicorn club.
- With 3 months left for 2019, this year could break 2018’s record of 8 unicorns.
AdvertisementIndia’s unicorn club seems to be having a good year as eight startups joined the coveted club
In 2018, eight startups turned unicorns basically reached $1 billion in valuation.
Here’s a look at all the startups that have crossed the valuation mark so far in 2019.
The latest startup to join the unicorn club is logistics startup Rivigo. The logistics sector had long been in the limelight after Delhivery turned unicorn. After this, both Rivigo and Blackbuck raised funds, heating up the race to being a unicorn.
Now, Rivigo has managed to be a unicorn after it raised $4.9 million from South Korea's KB Platform Fund. After the deal closed, it is valued at $1.05 billion.
In March this year, Delhivery became 2019’s first unicorn. This was after the logistics tech startup raised $395 million from SoftBank. After its funding in March, it’s valued at $1.6 billion.
The logistics solutions company was founded by Sahil Barua, Mohit Tandon, Suraj Saharan, Kapil Bharti and Bhavesh Manglani. They created a stronghold in the market by partnering with e-commerce majors like Flipkart and Paytm amongst others.
The grocery retail startup became a unicorn in March 2019. Bigbasket closed its Series F round of funding with an investment of $150 million, which valued it at $2.3 billion. The funding was led by Bigbasket’s earlier investor Alibaba, along with a new investor – Mirae Asset.
The grocery sector which is now buzzing with new entrants like Swiggy. Grofers too turned its finances around, and has recently turned a soonicorn after the latest round of funding in May 2019.
Ola’s subsidiary Ola Electric also turned a unicorn like its parent company. Its growth has also been fast as most of Ola’s existing investors placed their bets on the company. In July, it became a unicorn after raising $250 million from Softbank.
In May, Ola Electric also raised funds from former Vodafone Group CEO Arun Sarin. Some of its other illustrious investors include Chairman Emeritus of Tata Group, Ratan Tata.
In March, it had raised ₹4 billion from Ola’s existing and early investors – Tiger Global and Matrix India.
India’s first gaming unicorn is Dream11, a fantasy gaming startup. It announced a secondary investment from Steadview Capital, an Asia-focused alternative asset manager in April 2011 which gave brought it its unicorn status.
The 11-year old startup had a dream run in 2019, after signing up with IPL and the BCCI as its official partners. The cricket world cup along with IPL helped it clock in stellar numbers. In an interview with Business Insider, one of its founders Bhavin Sheth said that the startup hopes to hit 100 million users by the end of the year.
In July 2019, India and US-based Software-as-a-Service (SaaS) platform Icertis became a unicorn. It raised $115 million in funding from Azim Premji’s Premji Invest and US-based VC firm Greycroft.
The company, which offers contract management, has 5.7 million contracts across 90 countries. Some of its are Adobe, Airtel, Cognizant, Infosys, and Microsoft.
The Indo-US startup Druva entered the unicorn club in June 2019. The cloud data protection startup raised $130 million in a round that was led by Viking Global Investors. It also saw participation from funds like Neuberger Berman and Atreides Management.
Existing investors Riverwood Capital, Tenaya Capital, and Nexus Venture Partners too participated in the round.
Druva is a SaaS (Software as a Service) startup which was founded by Jaspreet Singh and Milind Borate in 2008. Its patented cloud architecture enables cyber governance, improves cyber resiliency, and helps customers gain critical insights.
The healthtech company was a lesser known startup which gained unicorn status. The company provides healthcare solutions, using technologies like business intelligence, mobility and IoT, Big Data, cloud computing, predictive analytics and data science.
The company was acquired by Baring Private Equity Asia in July 2019, which gave it a valuation of $1 billion.
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