The “Raining Unicorns” In India

The Raining Unicorns In India

You are probably wondering what I mean when I say Raining Unicorns, we’ll get to that in a bit.

2021 has been a year of many firsts:

  • The United States of America elected its first woman Vice-President.
  • NASA touched the sun for the first time.
  • Space tourism finally kicked off.
  • New games were introduced at the Olympic.
  • We show the first sale of NFT this year.

Likewise, India’s Unicorn story also witnessed many firsts in 2021.

What is a Unicorn anyway?

“Unicorn is a term used in the venture capital industry to describe a privately held startup company with a valuation of $1billion. The term unicorn was first coined by venture capitalist “Aileen Lee” in the year 2013.

According to data compiled by the “Haroun research institute”- India hosts the third-largest number of Unicorns globally after the United States of America and China.

India has replaced the United Kingdom for the third spot and ahead of countries like Germany, France, Israel, Canada, Brazil, and South Korea.

The Unicorns are primarily located in consumer, technology, finance, hospitality, retail, and communication.

India has 100 unicorns according to the investment bank, Credit Suisse the Reserve Bank of India counts 10 new ones that emerged in 2019, 13 in 2020 while this year, three startups became Unicorn each month.

Today, 1 out every 10 Unicorns globally have been born in India.

Let’s Look at the Evolution of businesses

Startup: The term startup refers to a company in the first stage of operation. Startups are founded by one or more entrepreneurs who want to develop a product or service for which they believe there is demand.

Minicorn: Minicorn is a startup with a valuation of $1million and over. They are companies that are pretty new in the game, but still have some valuation which further proves that the company has the potential of becoming Unicorns in the upcoming future.

Unicorn: It is a term used in the venture capital industry to describe a privately held startup company with a valuation of over $1billion.

Decacorn: A decacorn is a startup company that has a current valuation of $10 billion.

Hectacorn: A tech company valued over 100 billion dollars is called Hectacorn.

The economy grows when its “Unicorn grows”.

The Indian startup ecosystem has seen exponential growth in the past few years. The Indian Unicorns are flourishing in the fast-paced and dynamic economy of today. These startups are not only developing innovative solutions and technologies but are generating “Large-scale employment”. By creating an employment sluggish economy may start growing and positive contribution can be seen in the GDP(Gross Domestic Product).

Some of the Captivating Unicorns:

1. Unacademy

“Work from home” and “study from Home” gave fuel to these kinds of businesses and growth was exponential in this business when almost all activities were halted. In September 2020, it entered the club of Unicorn.

2. Pinelabs

You might have heard about it. It is a very good company, whenever you swipe your debit or credit card at any store, so that machine is most likely of Pine labs.

It is an Indian merchant platform company that provides financing and last-mile transaction technology, founded in that year 1998 which turned into a Unicorn in the year 2020.

3. RazorPay

It is the payment solution provider in India that allows businesses to accept, process, and disburse payments with its product suite.

Customers can avail access to all payments mode like credit and debit cards, UPI, and popular mobile wallets.

4. Zerodha

It is a zero brokerage firm and an Indian financial service company member of NSE and BSE which offers you very low brokerage equity investment, retail and institutional broking, currencies, and commodities trading, and mutual fund.
It was founded in the year 2010.

5. Gupshup

It enables better customer engagement through conversational messaging.


It is an Indian fintech company based in Bangalore founded in 2018 by Kunal Shah. CRED app’s main feature is reward-based credit payment. Later, CRED let users make house rent payments and introduced short-term credit lines.

7. PharmEasy

It is India’s one of the top online pharmacy apps through which you can purchase medicine online and get delivered to your address within 24 to48 hours in selected cities. It was founded in the year 2014 and became Unicorn in 2021.

8. Nykaa

We all are familiar with this name because it offered an IPO (Initial Public Offerings) this year.

It is an Indian e-commerce company, founded by Falguni Nayar in 2012 which sells beauty, wellness, and fashion products across the website, mobile apps and it has 76 offline stores.

Keeping that in mind, Digital payments and escalating smartphone users gave a boost to these kinds of businesses to make their way.

Additionally, till FY 2016-17, approximately one Unicorn was being added every year but now it’s growing exponentially.

During the time when the resilient Indian Entrepreneurs have worked effortlessly to not only contribute to the economy but also contributed towards the covid-19 relief effort.

In fact, Google year in search for 2021 report said; People searched for “How to start a business” more than “How to get a job” in 2021.

In addition, 2021 has also been an incredible year for women entrepreneurs as well.

Some of the women made a significant impact:

  • Falguni Nayar(Fonder, Nykaa)
  • Whitney Wolf Herd( co-founder, Bumble)
  • Leena Nair ( C.E.O, Chanel)
  • Melanie Perkins( C.E.O and co-founder of canva)
  • Ruchi Karla (co-founder of Business)

Astounding achievement by startups which is leading India’s growth story. We expect the same growth in the upcoming year.

It’s a “Decade of Unicorn”.

~ Mayank Kumar( Upgrad Co- Founder and MD).

In conclusion, I want to round of saying that India has started climbing towards building an infrastructure for a lot more innovation to come in the future. To be honest, this is not only my personal opinion because a lot of experts have confirmed that investment in India right now can be significantly beneficial in the future.

Wish you all good luck in your future endeavors.

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