Outlook Business Desk
India saw six new unicorns in 2024, up from two in 2023 but down 75% from 24 in 2022, according to Tracxn. InMobi, India's first unicorn, achieved this status in 2011. The term was coined by Aileen Lee in 2013.
Indian tech start-ups secured $11.3 billion in funding in 2024, marking a 6 per centr increase from $10.7 billion in 2023. Additionally, the number of new unicorns rose to six, reflecting the robust growth of India's tech ecosystem.
An AI startup founded by Bhavish Aggarwal, the founder of Ola, achieved unicorn status in January 2024 after securing $50 million in funding from Z47.
The Bengaluru-based electric two-wheeler company achieved unicorn status in August 2024 after securing Rs 600 crore from the National Investment and Infrastructure Fund (NIIF), bringing its valuation to $1.3 billion.
A ride-hailing company founded in 2015 by Rishikesh SR, Pavan Guntupalli, and Aravind Sanka, Rapido became a unicorn in July 2024 after securing $120 million in funding from WestBridge Capital.
A lending tech startup, founded in 2014 by Puneet Agarwal and Sanjay Aggarwal, Moneyview reached unicorn status in September 2024 after raising $4.6 million in a funding round led by Accel India and Nexus Ventures
The delivery service company, founded in 2024 by Pranav Goel, Uttam Digga, and Vikas Chaudhary, achieved unicorn status in May 2024 after completing an internal funding round
Perfios is a fintech SaaS startup, founded in 2008 by VR Govindarajan and Debasish Chakraborty, joined the unicorn club after securing $80 million from Teachers' Venture Growth (TVG), reaching a $1 billion valuation.