In this age of disruption and competition, making startups rise and escalate is an uphill task. Having said that start-ups in India are giving high-end competition to the world, and India has become the fastest-growing community of unicorns valued at over $1 billion. Recording this momentous event that capture the third-largest startup ecosystem in the world, India paved the way for 23 profitable unicorns out of 100.
Since attaining profitability is exigent for startups, especially when it comes to beating all the pandemic and lockdown odds, only 23 of the 100 unicorns have managed to get their name on the list by achieving profitability for a financial year.
Here is the list of top 23 Profitable Unicorns that have steered a radical change in the corporate landscape and are worth getting inspiration from.
Top 23 Profitable Unicorns List 2022
Games24x7
India’s leading Digital Skill Games Company, Games24x7 has made its way to the top with a valuation of $2.5 billion. The platform has an aggregate of over 100 million users across its platform. Led by a fresh idea and approach, Games24x7 has become the third unicorn and second most valued startup in this space.
Oxyzo Financial Services
Having received a valuation of $1 billion after the recent funding, Oxyzo is a fintech marketplace for SMEs. The company has raised its first-ever funding of $200 million by lending a helping hand to a B2B startup Ofbusiness. TBH, FinTechs comprise 30% of the Indian unicorn ecosystem.
Amagi Media Labs
India’s first cloud-based media Saas Technology Company has made its way to 23 profitable unicorns and is the highest valued media tech company. Hitting a hyper-growth trajectory, the company offers initiatory geo-targeted TV ads for India’s broadcasters. Sounds worthy?
CredAvenue
Another fintech startup paves its way to be in 23 Profitable Unicorns with its impressive momentum. The Enterprise debt marketplace raised $137-million at a valuation of $1.3 billion. Gigantic shift, as it’s called.
MamaEarth
D2C personal care marketplace works its way up to 23 Profitable Unicorns by raising $52 million at the valuation of $1.2 billion. The CEO, Varun Alagh, aims at deploying the funds to expand the current portfolio across borders, work for brand launches, expand distribution, and inorganic growth, etc.
Ship Rocket
B2B logistics startup Shiprocket raised $185 Mn to make its way to Unicorn Company. The e-commerce shipping platform that recently got funded by Zomato, Singapore’s Temasek, and Lighrock India. The brand aims at further expansion and is tying up with more companies.
Coin Switch
Outdoing its counterpart, Coin Switch is leading the race to become the second crypto unicorn. Seeing itself topping the market, the company has raised $260M at a valuation of $1.9 b. A pretty big win?
Mind Tickle
Mind tickle, the third Indian software-as-a-service (SaaS) startup, gained its grounds at a valuation of $1.2 billion and is striving for greater momentum in international markets. Having over 200 clients across the globe, the company relishes an immaculate reputation and is still helping companies build sales capabilities.
OfBusiness
With SoftBank’s $160 million funding, OfBusiness get off the charts to be ranked in the top 18 out of 23 profitable unicorns. This B2B commerce platform got a valuation of over $ 1 billion. Mohapatra, to gain control over the supply chain industry, is aimed at increasing profit margins.
Lenskart
The premium eyewear brand gets its vision after being ranked in the top 23 profitable unicorns of the year. The company recently raised $100 million at a valuation of over $4 billion.
Gupshup
Getting through a really tough time, Gupshup managed to evolve as a global leader in B2B conversational messaging, thus, propelling the company’s valuation to $1.4 billion. “It’s a good milestone but not an achievement,” he says. He further added, “It helps in a growing business as you start getting a lot of attention, especially from customers, partners, and potential employees you want to hire.” Looking forward to more such companies is in itself an inspiration.
Groww
Paving its way into the list of 23 profitable unicorns, Grow has progressed at an unprecedented pace as an Indian online investment platform. Striding in with a $4-$5 billion valuation, the 2017 startup has raised $83 million in the latest funding round led by Tiger Global Management and has become 2nd fintech startup to be on the unicorn list.
Five Star Business Finance
The oldest Indian investment firms have successes to make up to a $1.4 Billion progress. Making strides in the financial industry, the company has managed to move its way up for exponential growth.
Infra.Market
The tech-enabled B2B eCommerce platform known for construction materials is one of the profitable start-ups. Having raised $4.5 Billion, the company is building strategic plans for continued growth in the real estate and construction sector as the best online platform for construction materials.
Nxtra Data
A subsidiary of Bharti Airtel Limited, Nxtra Data has come up with 10 large data centres and more than 120 Edge data centres lately. As a standalone business, it Redefines the scope of sustainable data centres and cherishes a valuation of above$1.2 Billion.
Zerodha
Being first-of-its-kind, Zerodha has attained a valuation of $2 Billion as an Indian Fintech startup. The startup offers an intensive service list, including retail and institutional broking, currencies and commodities trading, mutual funds, and bonds. So much to plan!
Postman
The most valued SAAS Unicorn is known for building and using APIs. Postman has raised $225 million in new funding at a valuation of $5.6 billion. The SAAS collaboration platform for API development has about 17 million users and 500,000 organizations on its platform. A big win?
Nykaa
The online beauty e-commerce company founded by Falguni Nayar, Nykaa is the most profitable women-led unicorn. With the launch of the IPO in November 2021, the company raised $700 million and surged near the valuation of $13 billion.
FirstCry
Asia’s Largest Online Shopping Store for Kids & Baby Products, the First Cry has made its way to a two billion dollar valuation after the latest $300 million funds raised by SoftBank Vision Fund. As an omnichannel retailer, FirstCry has more than 2 lakh unique products across 6000 brands and more than 400 stores in Metropolitan cities.
Zoho
Marking its entry into the ‘unicorn’ with a $1 Billion valuation, SaaS unicorn Zoho is a 25-year-old bootstrapped company that has made its way through all odds to be here in the list of top 23 profitable unicorns. “We have a great audit team that works on due diligence,” says Vembu at The Maker’s Summit 2022.
BillDesk
Minting its repute as a billion-dollar company, BillDesk has valuated itself as a $4.7 Billion company. Raising money like a regular startup, the company has seen a fair headstart. The company is known for its lightning-fast digital payment process.
Freshworks
Reaching the milestone of $13 Billion, Freshworks is the first Indian B2B SaaS unicorn to go public. The startup raised $100 million after starting its initial public offering (IPO). As per the McKinsey report, Indian SaaS companies will peg a $1 trillion ecosystem in the next few years.
ThoughtSpot
The future sees nothing but BI. Evolved as a Business Intelligence and Big Data Analytics Platform, ThoughSpot grew amid a bunch of new-age Modern Analytics Cloud companies with a valuation of around $4.2 Billion. Ready to analyze your company data in seconds?
Wrap Up
What made these companies evolve as trailblazers? They all have three things in common – an innovative perspective, a passion to be different, and a problem to solve. Becoming an entrepreneur and making your business go through the oddities to be a market leader requires you have to think out of the box. Enrol on a professional degree program, work on innovative technologies, and stay up-to-date with what the market needs, and find your business inspiration.
If you are already inspired by any of these 23 profitable unicorns, write to us about the company that helped you with the inspiration.
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