Page 7 - Unicorn Companies

No of unicorns drop to 85 in India as valuation erode amid global turmoil

The number of unicorns (with the $1 billion valuation and above) in India has dropped to 85 from more than 100 just a couple of months ago, as most startups have shed a significant share of valuations

Disruptive tech is fueling investment and innovation in Indian HR Tech

As the pandemic pushed organizations to work remotely, the HR Tech space saw an influx of investments

Unicorn Meesho joins ONDC to connect hyperlocal sellers and customers

E-commerce firm's pilot will be launched in Bangalore and later rolled out in other locations over a few months

Indian startups need to deliver good profits in 3-5 yrs: Accel's Prakash

The top venture capitalist also predicted that at least 25 Indian unicorns will go for IPO in the next 3-5 years

Edtech firm PhysicsWallah net profit rises multifold to Rs 97.8 cr in FY22

Edtech firm PhysicsWallah has recorded a multifold jump in its net profit to Rs 97.8 crore in the 2021-22 financial year, the company said on Monday. The unicorn edtech firm had registered a profit of Rs 6.93 crore in the previous financial year. The operating revenue of PhysicsWallah (PW) jumped close to 10-fold to Rs 234.09 crore in FY 2022 from Rs 24.6 crore in FY'21. "The success is accredited to our hardworking team and their intact focus on innovation. All our courses have recorded impressive traction and love from students, and we have also launched new courses to meet their demands. "These growth figures demonstrate our conscious efforts toward transforming education in India. We will continue to follow this philosophy and strive to bring more innovations in this ecosystem, PW founder and CEO Alakh Pandey said in a statement. PW started its journey in 2014 as a YouTube channel to coach JEE and NEET aspirants. It has further scaled into preparing students for multiple ...

Venture Catalysts says it has funded 54 start-ups at over $50 mn valuation

Individual valuations of at least two dozen companies have crossed $100 million, says investment firm

PhysicsWallah's revenue rises to Rs 232.48 cr, net profit surges 14 times

The company has reported a profit at a time when top tech unicorns, especially edtech firms are incurring steep losses and are laying-off employees

Top Indian unicorn founders, venture capitalists back Green Startup Pledge

World's first climate pledge for startups is backed by India's leading VC funds and supported by entrepreneurs including Nithin Kamath, Deepinder Goyal and Bhavish Aggarwal

upGrad's revenue rises to Rs 692 cr in FY22, losses widen to Rs 627 cr

The total expenses of the edtech unicorn for the fiscal were reported as Rs 1,319 crore in FY22, a jump of 157 per cent from Rs 514 crore last year

You're fired! Layoff crisis getting out of control at unicorns in India

A growing list of top tech unicorns or companies with over $1 billion valuation each is laying-off employees in an attempt to conserve cash and focus on profitability amid a funding winter this year

New start-up scheme to focus on biz ideas, unicorns in Uttar Pradesh

Under the new framework, the start-up seed capital/marketing support sum has been hiked by 50 per cent from Rs 5 lakh to Rs 7.5 lakh

DealShare launches private brands, plans Rs 500 cr investment in 2-3 years

Brands to be manufactured in tie-up with SMEs; 52 products launched under home cleaning, personal hygiene, pantry staples, and male grooming so far, more categories in two years

Several startups in India may lose their Unicorn status, says report

In total, around 105 start-ups in India attained the status of Unicorns between 2018 and 2022 but the active number of unicorns has now been reduced to 84

The great Indian unicorn conundrum: High valuations and higher losses

Companies get investors' financing though many of them not on path to profitability

Down 66% YoY, total deal value in Q3FY23 second lowest since 2017: Report

According to Grant Thornton Bharat's Dealtracker September 2022 report, a total of 450 deals worth $10.2 billion were recorded in Q3FY23, 25 per cent below the 600 deals recorded in Q3FY22

Ed-tech firm FrontRow lays off 75% of staff, day after Byju's move

Second round of sacking to save costs reduces FrontRow's headcount to 45 people

Only 2 Indian startups turned unicorns in Q3 amid funding winter: Report

Only two startups in India, Shiprocket and OneCard, attained the unicorn status (valuation $1 billion and above) in the July-September period, a PwC India report showed on Thursday.

Unicorns become 'cockroaches' as tech funding dries up: Report

Global venture funding slumped to $74.5 billion in the past three months, its lowest level in nine quarters, according to CB Insights.

Unicorns feel funding winter chill, see fall in numbers: Hurun global index

The valuation firms like Quikr, Paytm Mall, have dropped below $1 billion. Shopclues and Blinkit were acquired for a fraction of their billion-dollar valuation

Flickstree raises $5 mn in pre-series B round led by Venture Catalysts

Flickstree is a content and marketing tech start-up that uses AI to create free branded video content; its data engine promote these videos, which keep churning transactions in auto-pilot mode