Home Breaking News 7 Indian Startups That Joined the Billion-Dollar Club in 2020

7 Indian Startups That Joined the Billion-Dollar Club in 2020

7 Indian Startups That Joined the Billion-Dollar Club in 2020

Every startup dreams of joining the unicorn club one day. This year, despite the pandemic giving a major jolt to the economy, 7 Indian startups became unicorns in 2020.

The Indian unicorn club is expected to steadily expand through 2020 and 2021. Here are the seven Indian startups that entered the billion-dollar club in 2020. 

1. Pine Labs

Pine Labs

Pine Labs is a point-of-sale and merchant commerce solution provider based in Noida. It was also the first one to become a unicorn in the year 2020. It became a Unicorn after a deal with financial services major Mastercard in January. The company serves over 150,000 merchants in 3,700 cities with over 450,000 merchant touchpoints.

Founded in: 1998

Founders: Lokvir Kapoor, Rajul Garg and Tarun Upadhyay

2. FirstCry

Firstcry

FirstCry offers various categories of baby and kids products. It has a wide range of products, from clothing to school essentials. The company has expanded its user base to over 4 Mn and has a retail footprint of over 300 stores spread across 125 cities. It entered the Unicorn Club in February 2020. It had secured investment from SoftBank worth US$ 300M. SoftBank will invest another US$ 100M in January 2021, as a part of the deal.

Founded in: 2010

Founders: Supam Maheshwari and Amitava Saha

3. Nykaa

Nykaa is a Mumbai-based cosmetic retailer. It has its online website as well and sells not only cosmetics but a wide range of beauty and clothing products. The company had scaled down operations during coronavirus lockdown.

Falguni Nayar started the fashion e-tailer in 2012 which valued at $1.2 billion in April 2020. It had raised US$ 13M in funding from its existing investor UK-based Steadview Capital as a primary investment in April 2020 at a valuation of US$ 1.2B.

Founded in: 2012

Founder: Falguni Nayar

4. Postman

Postman

Postman is a leading platform for application programming interface (API) development. It had raised US$ 150M in a Series C funding round in June 2020. The round was led by Insight Partners and Global Venture Capital. Postman has more than 500K clients globally. Its API platform helps them accelerate their pace and effectiveness of software development.

Founded in: 2014

Founders: Abhinav Asthana, Ankit Sobti and Abhijit Kane

5. Zerodha

Zerodha

Bengaluru-based Zerodha is an Indian fintech company that offers retail and institutional broking, distribution and trading services. It is an online website with stock trading information and capabilities. The company develops tools for market data research and analysis. Zerodha has a current valuation of US$ 3 billion. Its founders recently made it to the Forbes’ list of India’s 100 richest 2020.

Founded in: 2010

Founders: Nithin and Nikhil Kamath,

6. Unacademy

Unacademy

Unacademy is one of India’s biggest edtech companies. The learning platform provides content for major competitive examinations as well as offers short lectures in the form of videos on different subjects which can be accessed for free.

Unacademy had raised around US$ 150M in a funding round led by Softbank Vision Fund 2 along with participation from existing investors including Facebook. Unacademy has a network of over 18,000 educators and 350,000 paid subscribers.

Founded in: 2015

Founders: Gaurav Munjal, Hemesh Singh, Roman Saini

7. Razorpay

Razorpay

Bangaluru-based Razorpay is a platform that enables businesses to accept, process, and disburse payments with its product suite. It gives access to all payment modes including credit card, debit card, net banking, UPI and popular wallets including JioMoney, Mobikwik, Airtel Money, etc. It also provides banking solutions to manage their entire money flow.

Razorpay became a unicorn this year after it raised US$ 100 million in a funding round co-led by Singapore’s sovereign wealth fund GIC and Sequoia Capital India. Its customers include Airtel, BookMyShow, Facebook, Ola, Zomato, Swiggy, Cred, ICICI Prudential among others.

Founded in: 2014

Founders: Harshil Mathur, Shashank Kumar

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Komal writes about the startup ecosystem on VCBay. She is an Economics Hons. graduate from Miranda House, Delhi University, and is passionate about the world of entrepreneurship and finance.

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