2021-The Year of Indian Unicorns

2021 saw the Indian startup ecosystem on fire. 40 Indian startups made it to the unicorn category making it the year of Indian unicorns. Some of them even achieved the coveted status within a few months of starting their operations.

This year also witnessed many firsts, the Indian startup ecosystem saw the entry of first healthtech, e-pharmacy, social commerce in the unicorn club. So far, there have been nine FinTech unicorns, four EnterpriseTech, three EdTech, and two cryptocurrency unicorns in the country.

In the first eleven months of 2021, the number of unicorns is more than 124 percent than the active unicorns, which attained this status between 2011 and 2020. While the startup ecosystem in India has been churning out more unicorns, 2021 also saw IPOs with Nykaa, Zomato, Paytm, and PolicyBazaar getting listed.

Image Credit – Inc42

Here are some stories we covered during the year.

Innovaccer

Innovaccer became the first HealthTech startup in the country in 2021 after it raised US$105 million in January 2021. The platform connects automations, analytic insights, and applications for use by physicians, patients, care givers, , employers to support individuals throughout their healthcare journey.

Mensa Brands

The ecommerce roll-up firm that raised US$135 million in November this year entered the unicorn category within six months of starting up making it as the youngest unicorn in India. The latest funding round soared Mensa Brands valuation to US$ 1.2 billion.

Digit Insurance

The Bengaluru-based insurance startup was one of the first startups to enter the unicorn club in 2021. It achieved this status within three years of its operations after existing investors pumped about $170 million of additional capital in January 2021. The startup then raised $200 million in July this year taking its valuation to $3.5 billion.

CoinDCX

The first cryptocurrency startup of India to enter the unicorn club in 2021 was CoinDCX after it raised US$90 million in its Series C round that was led by Facebook Co-founder Edurado Saverin’s B Capital.

Mobile Premier League

An online and esports gaming platform Mobile Premier League raised about US$150 million in September this year taking its valuation to $2.3 billion within three years of its operations.

NoBroker

NoBroker became India’s first PropTech unicorn after it raised US$210 million in November this year. The PropTech startup offers all property-related needs under its umbrella that also include financial services and society management.

Licious

Licious became India’s first D2C unicorn after it raised US$52 million in October this year. The startup offers fresh meat and seafood through its online platform across 14 cities in India.

Each of the 40 startups that made it to the unicorn category brings lasting qualities that make them agile and resilient. These entrepreneurs are changing the way business is done.