On World Entrepreneurs' Day 2021, India's 5 Most Valuable Startups 2021
It’s raining unicorns in India, from Meesho to Pharmeasy to CoinDCX, with 25 unicorns in eight months. The country is arguably evolving into a thriving Unicorn ranch, with the world’s third-largest startup ecosystem.
According to the RBI August 2021 bulletin, the number of enterprises valued at over $1 billion (nicknamed after the mythological monster embodying statistical rarity) established in India is anticipated to be 100, with ten being founded in 2019, 13 in 2020.According to the Hurun Global Unicorn List 2020, India comes fourth in terms of the number of unicorns, while the United States is first, followed by China and the United Kingdom.
Despite a general market downturn, some companies have managed to turn the tide and build a name for themselves with their amazing billion-dollar business ideas and strategies. Let’s take a look at the five most valued Indian enterprises as of August 2021, according to the CB Insights research, on World Entrepreneurs’ Day 2021.
BYJU’s
BYJU’s, based in Bengaluru, is the most valuable startup, surpassing the $16 billion valuation of financial giant PayTM. BYJU’s, founded by Byju Raveendran and Divya Gokulnath, has spent about $2 billion on acquisitions in the last six months.
According to CB Insights data, the world’s most valuable educational technology company has recently raised $350 million and is the 14th most valuable startup in the world as of August 2021. Its investors include Tencent Holdings, Lightspeed India Partners, and Sequoia Capital India. BYJU’s K-12 learning app has 80 million users and is expected to generate $1 billion in revenue in the next 12 to 15 months.
PAYTM
Another well-known Indian business that made the list is PayTM, the country’s leader in digital payments, which was launched by DTU graduate Vijay Shekhar Sharma with a $2 million initial investment. Its formal name is One97 Communications Ltd., and it is on the verge of a $2.2 billion initial public offering (IPO), the country’s largest ever.
Intel Capital, Sapphire Ventures, and Alibaba Group are among the notable investors in the digital payment firm, which intends to reach $1 billion in revenue in two to three years. The Noida-based fintech startup wants to launch a raft of new goods and services, including mutual funds, insurance, lending, and gold sales, to its over 330 million members.
OYO
OYO Rooms, which achieved unicorn status in less than six years, is now a member of India’s top five most valuable startups. Microsoft, the world’s largest software company, just invested $5 million in OYO Hotels & Homes. The hotel company, which is gearing up for an IPO, has aggressively extended its presence in a number of international areas, including Europe, the United States, and Southeast Asia.
SoftBank Group, Sequoia Capital India, and Lightspeed India Partners are among the investors in the Gurgaon-based hospitality brand, which was founded by 27-year-old Ritesh Agarwal. According to its website, it has hosted over 180 million visitors from over 120 different countries.
OLA
Ola, the ride-hailing firm that recently debuted its much-anticipated electric scooter, is also one of the big beneficiaries. It is ranked fourth among India’s most valuable startups. Bhavish Aggarwal and Ankit Bhati, two IIT-Bombay students, founded the company, which has raised $500 million from Temasek and Plum Wood Investment.
The Bengaluru-based business, backed by Accel Partners, SoftBank Group, and Sequoia Capital, plans to deliver its first electric automobile by 2023. It intends to enter the public market next year, giving staff an additional INR 400 crore in equity. India’s largest mobility platform covers more than 250 cities in India, Australia, New Zealand, and the United Kingdom.