India witnessed unprecedented growth of Unicorns in 2019; 6 startups join $1 Billion Club

An unprecedented growth of Indian startups has been recorded in 2019 as six companies reached unicorn status. Reportedly, 2019 has produced over half a dozen unicorns so far.

Contract management software platform Icertis is the latest to join the club. The company reportedly received $115 million investment last week. The funding round was led by the American VC firm Greycroft and Premji Invest, the family investment office of Azim Premji.

Delhivery, BigBasket and Rivigo are other interesting names which have become the part of the billion club of India this year.

In early 2019, Bigbasket raised $150 million by Mirae Asset Global Investments. Post investment, the grocery e-tailer valued around $1.2 billion. In March 2019, a prominent logistics startip – Delhivery raised $143 million from SoftBank’s Vision Fund to enter the unicorn club.

Radha Kizhanattam, Director of the United Ventures stated, “The state of today’s startup ecosystem has a lot to do with efforts of these early unicorns, startups which bore significant market development costs. Now add to this hugely favourable macro changes, capital supply and the maturing consumer, and you have a growing unicorn tribe.”

Dream11 being the only gaming startup to enter the unicorn club. Steadview Capital investment helped Dream11 to achieve a billion-dollar valuation earlier this year.

There is a long list of potential startups that are currently valued over $500 million. The startups are from different sectors including e-commerce, logistics and fintech as well as the content, social commerce and mobility sector.