Darwinbox is a cloud-based HRtech firm that serves businesses’ HR needs across recruiting, onboarding, payroll, travel, and people analytics, among other areas. It was founded in 2015 by Chaitanya Peddi, Jayant Paleti, and Rohit Chennamaneni.
The organization, which has its headquarters in Hyderabad, claims to have 500 or so significant IT companies and businesses as clients throughout Southeast Asia and India. Such companies like Tokopedia, Indorama, Zilingo, Fave, Adani Group, Mahindra Group, Kotak, TVS Motor Company, National Stock Exchange, Ujjivan Small Finance Bank, Swiggy, BigBasket, and others are included in this.
The business unicorn has raised a total of $107 million in capital over seven rounds, with funding led by Salesforce Ventures, Technology Crossover Ventures (TCV), Sequoia India, and Lightspeed India.
DealShare is a social e-commerce platform that was established in September 2018 by Vineet Rao, Sourjyendu Medda, Sankar Bora, and Rajat Shikhar. Targeting middle-class consumers, the Bengaluru-based business makes it possible for first-time internet users to purchase online.
DealShare provides groceries and necessities for the home via social media and messaging services like WhatsApp. The business unicorn purchases domestic goods directly from lesser-known businesses and sells goods through neighborhood sales.
DealShare has so far attracted almost $330 million in capital from backers like Tiger Global Management, Alpha Wave Incubation, Kora, DF International Partners, and Twenty Nine Capital Partners.
Nykaa, founded by Falguni Nayar in 2012, is one of the well-known online retailers for cosmetics and personal care items.
Nayar left her job as an investment banker to launch the company with an emphasis on beauty. The business unicorn has attracted investors over the years, including the private equity company TPG, Fidelity, and Indian stars Alia Bhatt and Katrina Kaif.
In addition to operating online through mobile applications and websites, Nykaa also operates 80 physical locations around the nation. The cosmetics retailer with headquarters in Mumbai is said to be worth $1.2 billion.
Sandeep Deshmukh, Saurabh Nigam, and Shitiz Bansal created the ‘Kirana’ commerce firm in 2016.
The Pune-based startup serves as a distribution arm for fast-moving consumer goods (FMCG) firms, utilising crowdsourcing logistics networks to reach a large client base.
Masayoshi Son’s SoftBank, New York-based Goldman Sachs, Prosus Ventures, InnoVen Capital, and Abu Dhabi’s Chimaera Investment, a subsidiary of Abu Dhabi’s Royal Group, have all invested in the firm, which is valued at $1.5 billion.
LEAD will be the first edtech business to join India’s unicorn club in 2022. Sumeet Mehta and Smita Deorah started the Mumbai-based edtech firm in 2012.
This 2022 business unicorn provides private schools with integrated curriculum and technological solutions. LEAD claims to have partnered with over 3,000 schools in 400 cities and 20 states, serving over 12 lakh kids.
The firm, which is backed by WestBridge Capital and GSV Ventures, is valued at $1.1 billion in 2022.
Experts believe that this is only the beginning of an Indian gold rush.
However, high attrition, sustaining capital flow, a skills deficit, and a restricted number of IPOs create barriers for new entrants. Global macroeconomic conditions caused by all-time high inflation and recession worries may have a detrimental influence on the country’s prospective unicorns in the coming quarters.
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