So, what is a Unicorn? A Unicorn is a start-up with at least USD 1 Billion in valuation. You might be aware of this term if you read Economic Times regularly or listen to the business news.
As of now, India has 10 Unicorns- Flipkart, Paytm, Ola, InMobi, Zomato, MuSigma, Quikr, Shopclues, Hike, and Snapdeal.
Now, it seems like the Unicorn club might see fresh additions to the list in 2018. Some tech start-ups in various sectors like hospitality, healthcare, education, grocery, food ordering, and logistics have sprouted like mushrooms.
Let’s take a look at top 5 start-ups likely to become a Unicorn this year.
1. Oyo Rooms
Oyo received massive funding of $250 million in the latest round led by SoftBank Vision fund in September last year. This is a four-year-old company which provides budget hotels in the marketplace. It is incorporated as Oravel Stays Pvt. Ltd.
It could enter the Unicorn bandwagon backed by Japan’s SoftBank, which already has 5 Indian companies under its investment portoflio- Flipkart, Paytm, Ola, MuSigma, and Snapdeal.
2. BigBasket
A lot of hyper-local grocery delivery companies have mushroomed over the past few years, but BigBasket has survived the competition and come out as a winner. Innovative Retail Concepts Pvt operates this brand. Ltd and has reported a two-fold rise in the revenues generated in the year 2016-17.
BigBasket is India’s most significant online supermarket today. It claims to serve almost 6 million customers and supplies approximately 20,000 products from over a thousand brands. It is present in 26 cities across the country. With more investors looking forward to supporting this fast-growing brand, we are likely to see in become a Unicorn this year!
3. Byju’s
Byju’s is an educational technology start-up that raised $35 million from the Chinese Internet Conglomerate Tencent Holdings and was recently valued to be $776 million! It is a Bangalore based company named Think and Learn Pvt. Ltd and is running towards full profitability in the coming years.
According to founder Byju Raveendran, this ed-tech company seems to be very close regarding entering the Unicorn club. He calls his venture a “profitable unicorn.”
4. Swiggy
Bundl Technologies Pvt. Ltd runs a food delivery platform called Swiggy. It is one of the most well-known and well-funded start-ups in the food-tech sector of the country. Swiggy has received around $155.5 million funds till now! In just three years, this brand has established a strong presence in the market, gaining customer loyalty while innovating various business models to become the leading brand in the food delivery market.
Swiggy seems to be chasing success and becoming a Unicorn soon this year.
5. Practo
This is a digital, online healthcare platform which started as a doctor finder in 2008. Since then it has grown into a full-fledged healthcare service provider. It currently is valued at around $600 million.
This Bangalore based start-up shows a strong long-term growth which means there will probably be a massive investment round supporting Practo. We are likely to see it turn into a Unicorn soon.
These were our top 5 picks that seem to show excellent results, helping our economy grow further.
India is developing at a fast pace with lots of new startups entering the race. Who knows, maybe one day any of the Deshpee brands will become a Unicorn too! 😉
