More Indian companies into Unicorn Club

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In the venture capital market, a unicorn would be a start-up that has a valuation of $1 billion or more. Aileen Lee, the owner of Cowboy Ventures, was the first to invent the word. Originally, the phrase was used to emphasise the rarity of such businesses. The number of unicorns, on the other hand, has increased.

According to PwC India, India beat many wealthy countries, including China, the United Kingdom, and Canada, in terms of adding new unicorns in the third quarter of the calendar year 2021. India has surpassed its worldwide leaders, the United States, and China, after raising $23 billion in 9 months through 1,000+ agreements signed and 33 new members into the exclusive unicorn club, with a $1 billion-plus valuation.

According to the study, economies such as the United Kingdom, China, Hong Kong, and Canada rank well behind India in terms of new unicorns. In 2021, India added 10 new unicorns, Canada and the United Kingdom each added four, and China and Hong Kong each added seven.

During the first three-quarters of CY21, a total of 29 start-ups, largely in the SaaS, Fintech, and Elearning sectors, entered the coveted billion-dollar valuation club in India. Among these are Moglix, Kunal Shah’s CRED, Meesho, cryptocurrency trading site CoinDCX, trading platform Groww, payments app BharatPe, and ed-tech platform upGrad.

Lenskart, an Indian startup owned by Peyush Bansal is an online eyewear company selling its products via retail stores. Temasek and Falcon Edge Capital have led a $220 million investment in Lenskart. Lenskart raised $95 million from global investment firm KKR earlier this year.

Lenskart is a website that sells other people’s brands. However, its own brands make up roughly 90% of its revenue. As a result, it is not required to share sales revenues with other participants. It also benefits to have its own production facilities.

Image for a digital consumer goods company in the Thrasio style. Thrasio is a digital consumer goods company that buys Amazon FBA businesses and direct-to-consumer e-commerce brands from third parties.

Fashion, beauty, personal care, food, home, sports, and leisure are just some of the internet brands acquired by these startups. They also go after Direct-to-Consumer (D2C) firms who sell to niche markets and ship directly to customers, bypassing middlemen like Amazon.

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