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5 Indian Startups To Join The Elite Unicorn Club In 2022

5 Indian Startups To Join The Elite Unicorn Club In 2022
5 Indian Startups To Join The Elite Unicorn Club In 2022

Summary: Seven months into 2022 and India has already added 19 new unicorns.

While 2021 was a blockbuster year for unicorns, the year 2022 has started just on the right track. Just seven months into the year, India has seen 19 startups that have entered the elite unicorn club. The total count of Indian tech startups to enter the unicorn club stands at 105.

Let’s take a look at the number of startups that have made it to the club:

1. FRACTAL

Founded in 2000 by a five-member team, Fractal is an AI and advanced solutions startup. The core team of Fractal is an IIM Ahmedabad alumni- Pranay Agrawal and Srikanth Velamakanni along with Nirmal Palaparthi, Pradeep Suryanarayan, and Ramakrishna Reddy.

Its latest round of funding made it the first entrant into the unicorn club in 2022. Fractal has raised a total of $685 Mn funding  over 5 rounds. The Private Equity round saw $360 Mn raised from TPG Capital Asia and secondary share purchases from funds advised by Apax Partners.

This startup of India has also raised $100 Mn from the Malaysian sovereign fund Khazanah in 2016. The 21-year-old startup provides artificial intelligence and advanced analytics solutions to Fortune 500 companies. Fractal Analytics is among a handful of companies that have taken over two decades to enter the unicorn club.

2. LEAD

By raising $ 100 Mn in a round led by WestBridge Capital and GSV, LEAD School has raised a total of $166 Mn in funding over 5 rounds. Founded by Sumeet Mehta and Smita Deorah in 2012, this Mumbai-based startup was the first Ed-tech startup to enter the Indian unicorn club in 2022.

In 2021, edtech startups raised over $4.7 Bn to emerge as the third-most funded Indian startup sector 2021, with only eCommerce ($10.7 Bn) and fintech sectors ($8 Bn) attracting more investment.

This edtech startup of India enables schools to combine technology, curriculum, and pedagogy into an integrated teaching and learning system. It is the country’s sixth edtech unicorn after BYJU’s, Unacademy, Eruditas, UpGrad, and Vedantu. LEAD claims to have more than 5,000 schools from across 500 Indian cities on board, serving more than 2 Mn students across the country.

3. DEALSHARE

2022 saw this Bengaluru-based startup Dealshare entering the unicorn club at a valuation of $1.62 Bn. The Bengaluru-based social commerce startup raised $165 Mn in a Series E funding round. The round saw participation from existing investors, Tiger Global and Alpha Wave Incubation, alongside new investors, Kora Investment, DF International Partners, and Twenty Nine Capital Partners. The segment’s biggest milestone last year was Meesho’s entry into the unicorn club.

DealShare was founded by Vineet Rao, Sourjyendu Medda, Sankar Bora, and Rajat Shikhar in September 2018. Targeting the middle-class population, enables first-time internet users to shop online. The startup’s gross revenue has increased by 10X over the last year with an ARR of $750 Mn for FY22. It sells grocery and household essential products through social media and messenger platforms like WhatsApp.

4. LIVSPACE

With its series F round, Livspace became the sixth unicorn of the year. The Bengaluru-based startup raised $180 Mn from American investment giant KKR & Co, Jungle Ventures, Swedish retail giant Ikea, Venturi Partners, and Peugeot Investments.

Founded by Anuj Shrivastav and Ramkant Sharma in 2014, Livspace is a home renovation and interior platform. It provides an end-to-end home design experience. The startup’s online marketplace also offers software tools that can help designers and homeowners design interiors. Livspace has raised close to $450 Mn across 10 funding rounds. It has raised $90 Mn in a series D round, led by Switzerland-based investment firm Kharis Capital and consumer space-focused Venturi Partners.

5. XPRESSBEES

With its Series F funding round led by private equity funds Blackstone Growth, ChrysCapital, and TPG Growth; the Pune-based startup Xpressbees is the latest entrant to the Indian unicorn club of 2022. The round also saw participation from existing investors Investcorp and Norwest Venture Partners, thus helping the startup’s valuation soar close to $1.2 Bn. With this investment, Xpressbees total funding has touched $500 Mn.

Every successful business was once just an idea. It is determination, persistence, passion, and grit that turn imagination into a reality. If you too have a business idea, don’t hold yourself back! Work towards it with professional guidance from the experts.

The idea of managing a business is easier said than done and we completely agree with you. This is why to help you move forward with your business goals, we at Bada Business offer exclusive Foundation courses, specialized courses, and value-added courses. Join our Business Coaching Program that will help you to gain deep insights into the business world. To know more, visit: https://www.badabusiness.com/BCP-Event/?pp_code=BHBB000078&ref_code=SM

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Startup

Launch Your Startup With These 5 Financial Tips From The Experts

Launch Your Startup With These 5 Financial Tips From The Experts
Launch Your Startup With These 5 Financial Tips From The Experts

According to a report published on Inc42.com in 2016, the primary reason behind many startup shutdowns was due to lack of funding. In 2017 lack of market demand was the primary reason for the startup shutdowns.

Starting your business venture can be a daunting but rewarding process. While a great business plan is imperative for entrepreneurs, financing is one of the most crucial elements that help a startup succeed. Many entrepreneurs often take help from a business coach to receive fundraising guidance.

Securing funding to launch a startup can be difficult. More often than not, entrepreneurs use their savings to start their businesses. Another report by NASSCOM states that around 25% of Indian startups shut down untimely due to failure to raise follow-on funding rounds beyond Pre-Series. A good and effective management of finances can make a massive difference between a business that keeps climbing the ladder of success and one that falls at the very first challenge.

Here are five financial tips that would help every entrepreneur or small business owner manage their finances better:

1. Create a Dedicated Emergency Fund

A contingency or an emergency fund to provide financial security in desperate times. This fund helps an organization meet significant expenses in unforeseen circumstances. Ideally, one should have six months of living expenses as a contingency fund.

If you own a business, it is suggested to create a larger emergency fund if your company has seasonal cash-flow fluctuations. It is best to build such a fund and invest it in a mutual debt fund as it will give far better returns than a savings account and help you encounter unforeseen challenges.

Having an emergency fund will also give you peace of mind, and you can make more confident decisions for your business. A good business mentor will help you how to create a dedicated emergency fund.

2. Avoid Expensive Credit Loans

Credit is the lifeblood of any business, especially for startups. Hence, entrepreneurs need to keep their credit scores high. Always pay your bills on time. When it comes to financing your business, the cost of credit is a critical factor, especially in the initial months of operation.

In the beginning, when the business has not even reached the break-even point, the company’s financing should be done by keeping the interest cost at the bare minimum. This will reduce cost and attain profitability. Never miss a payment or delay the payment date, even if you face a financial crunch.

Also, keep your credit utilization ratio under consideration. The credit utilization ratio is the percentage of your available credit limits that you borrow during the month. Keeping your credit utilization ratio below 30% will help you maintain a better credit score.

3. Keep personal & business accounts separate

It is wise to keep your business and personal bank account separately. It will provide the benefit of easier accounting at the end of the financial year for tax purposes and eliminate the cash crunch situations in business caused due to withdrawals for personal expenditure.

4. Bad Debts

Debts that cannot be recovered are called bad debts. When credit sales are not recovered, bad debts are created. Entrepreneurs should eliminate the situation of a fund crunch in business due to withdrawals for personal expenditure. Instead, these debts should be repaid in the next year so that a healthy financial position of the company can be showcased in front of potential stakeholders. You can also take guidance from a best business coach to plan your finances.

5. Develop Financial Goals

Keeping the in-flow and out-flow of your finances is extremely important. Planning a year for significant expenses in advance can help small business owners to reduce the financial burden. If your future business goals involve expanding and launching new products or services in the market, it is essential to plan everything related to finances.

If you are not sure how to manage your finances or ensure a solid financial future, you can also take the help of a certified financial planner. A financial advisor can also help you build a strategy to meet your business objectives.

Instead of investing all your profits back into your startup venture, save for your future by investing your funds into multiple investment schemes. A wide array of investment schemes is available, from stocks to mutual funds. You do not have to invest every last penny into your business; save for your future.

If you can improve your finances with a better emergency fund, a solid credit score, and a robust retirement savings portfolio aside from the equity you own in your business, you can run your startup with a more focused and peaceful mind.

And for business owners, who are some of the busiest people in this world, having financial security is genuinely priceless. Are you planning to launch your dream startup business but worried about managing your finances?

Do you have any other financial tips for our entrepreneurs? Please share them with us in the comment section below.

The idea of managing a business is more straightforward said than done, and we agree with you. This is why to help you move forward with your business goals, we at Bada Business offer an exclusive Business Coaching Program that comes with Foundation courses, specialized courses, and value-added courses.

To know more, visit www.badabusiness.com.

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Startup

Indian Startups Gear Up For T-Angel Program As T-Hub Announces 2nd Batch Of Funding!

Indian Startups gear up for T-Angel Program as T-Hub announces 2nd batch of funding!
Indian Startups gear up for T-Angel Program as T-Hub announces 2nd batch of funding!

Hyderabad-based T-Hub, which is leading India`s pioneering innovation ecosystem has announced the launch of its redesigned funding program- T-Angel. T-Angel will aid the startups funding needs amid the COVID-19 pandemic.

This funding program will be supported by various angel investors who will invest collectively up to INR 50 Lac in each startup that will be qualified for this program.

T-Angel is a 45 –days acceleration program for which around 15-20 startups only with innovative and leading-edge solutions in the various sectors will be shortlisted. The program for the shortlisted chosen startups will then begin in July 2021.

The process of shortlisting startups involves inviting applications after an extensive screening process by a 5-members committee of mentors and investors. The program will emphasize understanding and resolving two pain points of a startup that are the major roadblocks and hindering the chances of raising capital.

A customized framework and plan would be developed for each of the startups with specific interventions. Subject matter experts will also assist the startups to come up with a more refined business plan and an investor pitch deck. The committee will then evaluate the startups and will decide on the investments, which is up to INR 50 lakh for the qualified startups, in three tranches.

According to Ravi Narayan, CEO, T-Hub, “T-Angel’s existence has been tailored to solve the issue of entrepreneurs’ awareness of what the angel investors are looking for. T-Hub believes that there are plenty of investment-ready technology startups, provided they learn the fundamentals from an investor’s perspective.”

Any startup across India can apply to be a part of the program as the applications are opened on 17 June 2021 Thursday. The last day for sending applications is June 30, 2021.

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Technology

Tech Startups To Get Major Boost As India and Singapore Ink Pact To Usher an Entrepreneurial Ecosystem

Tech Startups in India (Photo Credits: Pexels)

New Delhi, April 24: India and Singapore have inked a pact to boost the startup ecosystem and encourage start-ups to take advantage of the Singapore-India trade and technology corridor. Under the pact, the Singapore Indian Chamber of Commerce and Industry (SICCI) and Start-up Incubation and Innovation Centre (SIIC) of IIT-Kanpur have come together to provide a gateway of opportunities to tech-based start-ups. This would help these startups to usher a circular economy and an entrepreneurial ecosystem.

India is today the third largest start-up ecosystem in the world, with over 45,000 start-ups in various stages. In 2014, only four start-ups in India were in the Unicorn club. According to a report by PTI, the SICCI-SIIC conducted the first in a series of cross-border collaborations on Friday under a memorandum of understanding (MoU) signed on March 10, 2021.

Here’s how the pact between India and Singapore would help tech start-ups:

  1. The two institutions are collaborating to identify young, indigenous talent to provide them with an array of incubation services.
  2. A joint statement said that this one-of-its-kind association will provide start-ups in Singapore and India a competitive edge in the global market.
  3. With an array of services, both SICCI and SIIC will promote homegrown and international initiatives operating in the technology domain with mentorship and access to capital.
  4. To galvanise their efforts towards promoting indigenous innovation, SICCI-SIIC Launchpad Competition – SICCI-SIIC INNOVATION LAUNCHPAD – held a start-up pitch competition on a virtual platform.
  5. Nine pre-selected contestants – five from Singapore and four from India – pitched their ideas to the judges.

Prof Amitabha Bandyopadhyay, in-charge of Innovation and Incubation at IIT Kanpur, said that LaunchPad 2021 is the first of many upcoming endeavours that marks the beginning of an unseen era in the incubation ecosystem. “SIIC and SICCI have come together to develop a symbiotic relationship to benefit indigenous innovations in our respective countries,” he said.

“As we open our doors for their startups to explore the Indian market, and vice versa, we bring in a plethora of opportunities for all stakeholders. We are delighted to support tech-based businesses that are sustainable, ensure value-addition, and provide local employment opportunities,” he added.

Meanwhile, SICCI Chairman Dr T Chandroo said with SIIC, we plan to provide a well-deserved launchpad to our start-ups and those in India to create well-established global brands that thrive on excellence, innovation, and ingenuity. It was with this expectation that the Prime Minister of India launched the ‘Startup India’ initiative in January 2016.

 

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Business motivation Technology

Indian Startups Get Major Boost As Amazon India Rolls Out $250 Mn ‘Amazon Smbhav Venture Fund’ To Invest in Technology-Led Startups

startup ipo india

New Delhi, April 15: With a view to encourage the startup ecosystem in India, e-commerce major Amazon on Thursday announced a $250 million fund to help businesses grow and achieve new heights. Amazon India launched the ‘Amazon Smbhav Venture Fund’ which it would invest in startups and entrepreneurs focusing on technology innovations in SMB digitisation, agriculture and healthcare. According to reports, the fund was announced in the opening session of Amazon India’s flagship event Smbhav.

Here’s how the ‘Amazon Smbhav Venture Fund’ would benefit startups in India:

  1. Amazon India said that the venture fund will invest in technology-led startups that are passionate about unlocking possibilities of a digital India.
  2. The fund will specifically focus on encouraging the best ideas to digitise SMBs (small & medium businesses), and drive technology-led innovation in agriculture to improve farmer productivity.
  3. Moreover, Amazon announced plans to digitally empower and bring 1 million offline retailers and neighbourhood stores online, on the Amazon India marketplace, by 2025 through the ‘Local Shops on Amazon’ programme.
  4. The launch of the Amazon Smbhav Venture Fund aims to attract best ideas and empower entrepreneurs in the country to partner in this vision.

Amazon also launched the ‘Spotlight North East’ initiative at the same event to bring 50,000 artisans, weavers and small businesses online from the eight states in the north-eastern region of India by 2025 and to boost exports of key commodities like tea, spices and honey from the region.

Amit Agarwal, Global Senior VP and Country Head, Amazon India said in his address that in the year 2020, the firm pledged to digitise 10 million SMBs, enable $10 billion in exports, and create 1 million jobs by 2025. “Through our initiatives, we are committed to being a catalyst and a partner in unlocking the possibilities for a Digital India, and realise the vision of an Aatmanirbhar Bharat as put forth by the PM”, he said. “Additionally, our initiatives to onboard 1 million offline shops on Amazon.in and digitally empower the northeast region will accelerate the progress towards a digital and self-reliant India,” he added.

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Startup

Amazon India Rolls Out ‘Mentor Connect’ Programme for Startups; Here’s How It Will Boost the Startup Ecosystem in the Country

startup ipo india

Bengaluru, April 15: In a bid to help the startup ecosystem in India, Amazon India has rolled out its ‘Mentor Connect’ programme for thousands of startups and emerging brands. The programme has been introduced ahead of the company’s flagship event ‘Smbhav’. The Amazon Mentor Connect programme is aimed at accelerating the growth of start-ups and emerging brands owners enrolled in the “Amazon Launchpad” programme. Amazon Launchpad showcases differentiated products from startups and emerging brands to millions of Amazon customers. The second edition of “Amazon Smbhav” will be hosted from April 15-18.

Here’s how Amazon India’s ‘Mentor Connect’ programme would help the startups:

  1. Amazon’s ‘Mentor Connect’ programme will help startups gain exclusive access to guidance from venture capitalists, industry veterans and Amazon leaders through expert knowledge sharing sessions, networking events and one-on-one mentorship sessions.
  2. Mentors from educational institutions and VC firms like Fireside Ventures, DSG Consumer Partners, Elevation Capital, and Tomorrow Capital have already signed up for this programme and are looking forward to contributing to the Indian startup growth story, Amazon said.
  3. Startups and emerging brands enrolled in the Amazon Launchpad programme can access guidance from these mentors through various ways.
  4. This includes one to one mentorship with chosen mentors over a 3-month period, ongoing networking opportunities with a wider pool of industry experts, or knowledge sharing sessions between these experts and other Launchpad brands.
  5. This offers entrepreneurs a platform to engage, learn and showcase their startups to the industry’s leading subject matter experts to help tackle strategic and functional challenges.
  6. Amazon said that the Mentor Connect programme will also be extended to the winners of the Amazon Smbhav Entrepreneurship challenge in the upcoming Amazon Smbhav summit.
  7. The winners will be the first cohort of startups to receive the benefits associated with the Amazon Mentor Connect programme.

Pranav Bhasin, Director, MSME & Selling Partner Experience, Amazon India, said in a statement said that with Amazon Mentor Connect programme, the firm aims to create a support system to help startups unlock their potential. It would provide them with the right kind of mentoring that can help them scale their business, avoid blind spots, learn from experience of existing leaders, open new doors and help them unlock infinite possibilities for a Digital India.

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Startup

Yes Bank Targets Startup Sector, Ties Up With GVFL To Support the Growth of Indian Startup Ecosystem

startup ipo india

Mumbai, April 4: With an aim to help startups, lender Yes Bank has tied up with GVFL Limited to broaden its services for the start-up sector. The two companies have entered into a Memorandum of Understanding (MoU) to strengthen Fintech-led innovation and support the growth of the Indian startup ecosystem.

Under the pact, the MoU will enable the bank to offer various products, digital banking solutions, and many other facilities that will benefit the startups associated with GVFL Limited, Yes Bank said in a statement. The bank will offer its curated digital transaction banking product suite, including its flagship API-based offerings to startups and FinTech companies.

Furthermore, the MoU would promote innovation and investments across India by leveraging the capabilities of GVFL and the Yes bank, the statement added.

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Startup

CHUNAUTI Startup Challenge: STPI Receives Over 6,500 Applications For The Challenge Hunt

startup ipo india

With an aim to encourage innovation and entrepreneurship in the key sectors across India, the Software Technology Parks of India (STPI) announced that it has received 6,708 applications for the Challenge Hunt under Next Generation Incubation Scheme (NGIS) by Advancing Uninhibited Technological Intervention (CHUNAUTI). In August 2020, CHUNAUTI was launched by Electronics and IT Minister Ravi Shankar Prasad. The program aims to identify around 300 startups working in selected areas and provide them with a seed fund of up to Rs 25 lakh and other facilities.

According to a report by PTI, the government has earmarked an amount worth Rs 95.03 crore over three years for the programme. About 1,820 applications qualified and 111 applicants were selected for the presentation round, a statement said. The consolidation of scores and the finalisation of results is underway. The final list of selected startups will be announced soon that will be incubated by STPI and be provided with stipends/seed funding and other facilities to set up their venture, it said.

The report said that maximum applications were received for edtech, agri-tech and fintech sectors (767), followed by jobs and skilling, linguistic tools and technologies and healthcare sectors at (312) and (308) applications, respectively. In terms of regions, Maharashtra leads the tally with 215 applicants followed by Uttar Pradesh (199), Odisha (138) and Madhya Pradesh (129).

“The initiative aligns with our vision to foster an innovative ecosystem for the development of indigenous software products. The selected startups will receive end-to-end support through financial assistance and mentorship that will encourage innovation and entrepreneurship in the key sectors,” Omkar Rai, Director General of STPI, said.

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Startup

Startup India Scheme: What Qualifies a Startup Under This Scheme? Here’s How Can One Register a Profile Online on startupindia.gov.in

Startups (Photo Credits: Pexels)

The Startup India initiative launched by the government on January 16, 2016, aims at fostering entrepreneurship and promoting innovation by creating an ecosystem that is conducive to the growth of startups. In India, as many as 44,534 startups have been recognised by the department for the promotion of industry and internal trade (DPIIT).

What qualifies as a ‘Startup’ under Startup India Scheme

An entity shall be considered as a Startup:

1. If it is incorporated as a private limited company or registered as a partnership firm or a limited liability partnership in India

2. Up to 10 years from the date of its incorporation or registration

3. If its turnover for any of the financial years since incorporation/registration has not exceeded Rs 100 Crores

4. If it is working towards innovation, development or improvement of products or processes or services, or if it is a scalable business model with a high potential of employment generation or wealth creation

It must be noted that an entity formed by splitting up or reconstruction of a business already in existence shall not be considered a ‘Startup’.

How Can I register a profile online on the Startup India website:

  1. Visit the Startup India website startupindia.gov.inand click on ‘Register’ at the right side of the website where the profile photo box appears on the screen.
  2. Fill in the details as required in the registration form.
  3. An OTP will be sent to your registered email address, post submitting which your profile will get created.

 

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Startup

Startup India Initiative Gains Momentum, Total 44,534 Startups Recognised by DPIIT So Far, 339 Startups Granted Income Tax Exemptions

startup ipo india

New Delhi, March 12: Under the Startup India initiative launched by the government, as many as 44,534 startups in India have been recognised by the Department for the Promotion of Industry and Internal Trade (DPIIT). The numbers have been updated as of February 24 this year, Minister of State for Commerce and Industry Som Parkash said in the Parliament on Wednesday. Startup India is a flagship initiative of the Government whoch aims to build a strong ecosystem that is conducive for the growth of startup businesses, to drive sustainable economic growth and generate large scale employment opportunities.

Startup India, a flagship initiative of the government launched on January 16, 2016, aims at fostering entrepreneurship and promoting innovation by creating an ecosystem that is conducive to the growth of startups. “Since, the launch of Startup India initiative, a total of 44,534 startups have been recognised by the DPIIT as on February 24, 2021,” he said.

Reports inform that as many as 339 startups have been granted income tax exemptions till January 2021. The recognised startups are eligible for several benefits under the Startup India initiative. They avail tax exemptions besides other support measures. Prakash said that startups are eligible for an 80 percent rebate in patent filing fees and 50 percent on trademark filing fees.

Giving details about the startups in India, the Minister informed that so far, 5,253 applications for patents have been filed by startups under the SIPP (startups intellectual property protection) Scheme, out of which 514 patents have been granted. Till November 2020, a total number of Trademark applications filed – 12,264.

Under the Startup India initiative, the Government aims to empower startups to grow through innovation and design. Several programs have been undertaken since its launch in January 2016 with an aim to contribute to his vision of transforming India into a country of job creators instead of job seekers. These programs have catalyzed the startup culture, with startups getting recognized through the Startup India initiative and many entrepreneurs availing the benefits of starting their own business in India.