5 Indian Startups To Join The Elite Unicorn Club In 2022
by Priya Jain Business ConsultantSummary: Seven months into
2022 and India has already added 19 new unicorns.
While 2021 was a
blockbuster year for unicorns, the year 2022 has started just on the right
track. Just seven months into the year, India has seen 19 startups that have
entered the elite unicorn club. The total count of Indian tech startups to
enter the unicorn club stands at 105.
Let’s take a look
at the number of startups that have made it to the club:
1. FRACTAL
Founded in 2000 by
a five-member team, Fractal is an AI and advanced solutions startup. The core
team of Fractal is an IIM Ahmedabad alumni- Pranay Agrawal and Srikanth
Velamakanni along with Nirmal Palaparthi, Pradeep Suryanarayan, and Ramakrishna
Reddy.
Its latest round
of funding made it the first entrant into the unicorn club in 2022. Fractal has
raised a total of $685 Mn funding over 5 rounds. The Private Equity round
saw $360 Mn raised from TPG Capital Asia and secondary share purchases from
funds advised by Apax Partners.
This startup of
India has also raised $100 Mn from the Malaysian sovereign fund Khazanah in
2016. The 21-year-old startup provides artificial intelligence and advanced
analytics solutions to Fortune 500 companies. Fractal Analytics is among a
handful of companies that have taken over two decades to enter the unicorn
club.
2. LEAD
By raising $ 100
Mn in a round led by WestBridge Capital and GSV, LEAD School has raised a total
of $166 Mn in funding over 5 rounds. Founded by Sumeet Mehta and Smita Deorah
in 2012, this Mumbai-based startup was the first Ed-tech startup to enter the
Indian unicorn club in 2022.
In 2021, edtech
startups raised over $4.7 Bn to emerge as the third-most funded Indian startup
sector 2021, with only eCommerce ($10.7 Bn) and fintech sectors ($8 Bn)
attracting more investment.
This edtech startup
of India enables schools to combine technology, curriculum, and pedagogy
into an integrated teaching and learning system. It is the country’s sixth
edtech unicorn after BYJU’s, Unacademy, Eruditas, UpGrad, and Vedantu. LEAD
claims to have more than 5,000 schools from across 500 Indian cities on board, serving
more than 2 Mn students across the country.
3. DEALSHARE
2022 saw this
Bengaluru-based startup Dealshare entering the unicorn club at a valuation of
$1.62 Bn. The Bengaluru-based social commerce startup raised $165 Mn in a
Series E funding round. The round saw participation from existing investors,
Tiger Global and Alpha Wave Incubation, alongside new investors, Kora
Investment, DF International Partners, and Twenty Nine Capital Partners. The
segment’s biggest milestone last year was Meesho’s entry into the unicorn club.
DealShare was
founded by Vineet Rao, Sourjyendu Medda, Sankar Bora, and Rajat Shikhar in
September 2018. Targeting the middle-class population, enables first-time
internet users to shop online. The startup’s gross revenue has increased by 10X
over the last year with an ARR of $750 Mn for FY22. It sells grocery and
household essential products through social media and messenger platforms like
WhatsApp.
4. LIVSPACE
With its series F
round, Livspace became the sixth unicorn of the year. The Bengaluru-based
startup raised $180 Mn from American investment giant KKR & Co, Jungle
Ventures, Swedish retail giant Ikea, Venturi Partners, and Peugeot Investments.
Founded by Anuj
Shrivastav and Ramkant Sharma in 2014, Livspace is a home renovation and
interior platform. It provides an end-to-end home design experience. The
startup’s online marketplace also offers software tools that can help designers
and homeowners design interiors. Livspace has raised close to $450 Mn across 10 funding rounds. It has
raised $90 Mn in a series D round, led by Switzerland-based investment firm
Kharis Capital and consumer space-focused Venturi Partners.
5. XPRESSBEES
With its Series F
funding round led by private equity funds Blackstone Growth, ChrysCapital, and
TPG Growth; the Pune-based startup Xpressbees is the latest entrant to the
Indian unicorn club of 2022. The round also saw participation from existing
investors Investcorp and Norwest Venture Partners, thus helping the startup’s
valuation soar close to $1.2 Bn. With this investment, Xpressbees total funding
has touched $500 Mn.
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Created on Aug 18th 2022 02:05. Viewed 280 times.