Ever since the Covid-19 pandemic, Indian start-ups have attracted over $10 billion in funding. India ranks fourth after the US, UK, and China in the unicorn start-up ecosystem.
Home to over a hundred unicorns, Indian start-up valuation has exceeded $240 billion post-pandemic.
Which are the top 5 most valued start-ups in India?
1. Flipkart
Flipkart is at the top of the list with a valuation of $37.6 billion. It is one of the biggest e-commerce start-ups based in Bangalore working alongside Amazon. With over 150 million products and major events such as the Big Billion Days, Flipkart continues to hold a strong competitive position in the entrepreneurial market. Flipkart, the second Indian unicorn after InMobi, achieved this status in 2011-2012. It is also the preferred shopping destination of the Indian crowd, offering more than 150 million products across 80+ categories. Major investors are Walmart, Tencent, Softbank, etc.
2. Byju’s
Byju’s – The Learning App is an ed-tech company based in Bangalore. It provides online tutoring and coaching services using a freemium model since 2011. It is also known for its K-12 learning app which caters to approximately 80 million students and is targeting $1 billion in revenue over the next 12 to 15 months.
Byju’s is used by over 15 million students worldwide, with over 900,000 subscribers with its dependable as well as an interesting approach to learning. The company was founded by Byju Raveendran. Currently, Byju is valued at $22.6 billion. Major investors are BOND, Aarin Capital, etc.
3. Nykaa
The third company to make the list is Nykaa. It is a Mumbai-based start-up founded in 2012. It entered the unicorn market in 2020 with a valuation of $13 billion. The company also opened over 26 offline stores all over India. The company offers a wide range of cosmetic and wellness products both online and offline. Nykaa is one of the 11 Indian start-ups to join the unicorn club in 2020 and also the first woman-led profitable unicorn to set foot in the public markets.
4. BharatPe
BharatPe is a payment platform based in New Delhi that also offers Fintech and financial services. Bhavik Koladiya, Shashvat Nakrani, and Ashneer Grover founded this start-up in 2018. The company valuation tripled ever since 2021 and joined the unicorn club at $2.85 billion.
Recently, BharatPe co-founder Ashneer Grover was implicated in a phone scandal accusing him of abusing a Kotak employee. His rash behavior and blunt remarks also led to Grayder’s infamous appearance on several social media platforms and news websites. In addition, he has recently been implicated in a financial fraud involving BharatPe, Madhuri, and five others, for which the investigation is still ongoing.
But there is no doubt that BharatPe is now a unicorn, the 19th unicorn startup in 2021, and is considered one of the top Fintech startups in the country, according to a report on August 4, 2021. Major investors are Steadfast Capital, Coatue, Dragoneer, and Sequoia.
5. Oyo
Oyo with a valuation of $8.4 billion is fifth on the list. Unlike most hotel chains, Oyo has a global network of hotels that offer standardized stay experiences in the affordable segment. Founded in 2013, Oyo joined the unicorn club in 2018. It only took 6 years for the startup to gain unicorn status. Microsoft, the global tech giant, invested $5 million in Oyo in 2021. Among its other investors are Softbank, Lightspeed India Partners, Sequoia, etc.
