2020 has been a tough year for a range of reasons. The pandemic has modified the means individuals live and has actually jolted the economic foundations of the globe. In India, the economy has hit quite a couple of bumps further. However, bound Indian startups appear to own been doing well and are currently a part of the much-sought-after billion-dollar valuation clubs — additionally referred to as unicorns. six Indian startups became unicorns in 2020 and here are a couple of things to understand concerning them:
1. Postman: a software startup esteemed at around $2 billion
Postman was started by Abhijit Kane, Abhinav Asthana and Ankit Sobti in Bengaluru but is headquartered in San Francisco. it’s the quickest Indian startup to become a unicorn because it took simply six years to hit the billion-dollar valuation. The startup focuses on application programme interface (API) systems targeted at principal coders.
2. Pine Labs: a point-of-sale service provider valued at $1.5 billion
In Jan this year, Pine Labs got spherical of funding from Microsoft, that created it the primary unicorn of 2020. The location (PoS) machines from the startup reportedly processed payments over $30 billion during a year.
3. UnAcademy: an edtech startup valued at close to $ 1.5 billion
Started off as a YouTube ‘initiative’, UnAcademy currently claims to be one among the leading learning platforms in India. It reportedly has shut 3.5 lakh subscribers and 18,000 educators in its network, that cater to the wants of 35+ competitive exams. a number of the large investors embrace Facebook, cypress Capital and SoftBank.
4. Nykaa: a beauty, fashion startup valued at $1.2 billion
Launched in 2012, Nykaa is currently home to three 100000 product in association with 1,500 brands. The Mumbai-base startup became a unicorn in Apr 2020 when it raised Rs one hundred 100 from Steadview Capital.
5. Razorpay: a fintech startup valued at $ 1 billion
The latest entrant to the unicorn is fintech startup Razorpay. in line with a report by the days of Republic of India, Razorpay’s dealings price grew 5 times since Apr 2020. Razorpay currently has five million merchants on its platform, compared to the one million it had in 2019.
6. Zerodha: a fintech startup valued at $1 billion
This stock securities firm may be a ‘rare’ member of the club because it has never raised cash from outside investors. Earlier this year, the startup attached on-line brokering declared that it’s shopping for back shares from its staff, that created its valuation over $1 billion.