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India Unicorn Companies 2024: In phrases of startups, the yr 2024 proved to be higher than the yr 2023. This yr was very particular for Indian startups. In truth, in 2023 solely two companies had achieved the title of Unicorn. But, after a year-long pause, this yr the Indian startup ecosystem once more gained momentum and 6 companies entered the Unicorn Club.
so many unicorns in india
There are actually a complete of 118 unicorns in India, who’ve collectively raised greater than $100 billion. Although this quantity is much less in comparison with the 21 and 42 unicorns created in 2022 and 2021, it’s nonetheless a constructive signal in comparison with 2023.
6 new unicorns of 2024
Ather Energy
Electric two-wheeler manufacturing firm Ather Energy grew to become a unicorn in August 2024. It obtained funding of $71 million from the National Investment and Infrastructure Fund (NIIF). Ather is getting ready to launch an IPO quickly with a valuation of $2 billion. The firm is competing with companies like Ola Electric and TVS Motor in the electrical car market.
synthetic (Krutrim)
GenAI, based by Bhavya Agarwal, grew to become India’s first Generative Artificial Intelligence (GenAI) unicorn in January 2024. The firm is engaged on making giant language fashions (LLMs) and AI chips. Artificial has raised a fund of $74 million thus far and is competing with companies like OpenAI and Google.
Moneyview
Fintech startup Moneyview achieved unicorn standing in September 2024 with a $1.2 billion valuation. It supplies companies like private mortgage and credit score monitoring. The firm’s income grew by 75% to Rs 1,012 crore in FY24.
Perfios
Fintech SaaS firm Perfios grew to become a unicorn in March 2024. It obtained funding of $80 million from a Canadian investor. The firm operates in 18 nations and supplies companies to greater than 1,000 monetary establishments. Perfios goals to enter the US market and launch an IPO.
Rapido
Ride-hailing platform Rapido turns into unicorn in July 2024. It obtained funding of $120 million from Westbridge Capital. The firm supplies bike taxi and auto transportation companies and is competing with companies like Ola and Uber. Rapido lowered its losses by 45% in FY24.
RateGain
Travel and hospitality sector firm Rategain grew to become a unicorn in 2024. This firm is already listed and serves greater than 3,200 prospects in 100 nations. In the second quarter of FY25, the firm’s revenue elevated by 74% to Rs 52.2 crore.
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