Top 15 Unicorn Startups in India 2023 that ruled the world – Best Unicorn Companies in India

By Startup Authority March 4

Introduction

Now, every startup company emerging in the Indian market wants to recognize among unicorn startups of India. Unicorn companies are those companies that reach a total company valuation of $1 billion without being listed on the stock market. Many such companies are present in our country and are doing really well in business. The revenue generation of unicorn companies will make you awe-struck.

Most unicorn startups in our country are facing rapid growth. Just after the COVID-19 pandemic, the thoughts toward technical stuff changed. People are ordering various products and services using technical things. If you are planning to list your brand or company as a unicorn then opening a business in the technical world would just be the best idea.

Did you know? As of September 2022, India is home to more than 105 unicorns. The total valuation of these many unicorns is $340.79 billion. Yes, the unicorn companies in our country are doing quite well just after the COVID-19 pandemic. All these startups have seen major growth and that figure is just rising as the days pass by. Further, in this article, we will be talking about the top 15 unicorn startups in India in 2023.

Top 15 Unicorn Startups in India 2023

India is the land of the third largest startup ecosystem in the world. Yes, they are just behind some of the great countries like China and the USA. Compared to traditional businesses in our country, startup companies are doing quite well & list of Indian unicorn startups & unicorn companies has increased significantly in the last few years. In some way, we could say that startup companies are directly challenging traditional businesses in our country and around the world.

Games 24x7

By reading the name we know what the product and services offered by this unicorn startup are. Games 24x7 started way back in 2006 by Bhavin Pandya and Trivikraman Thampy. These two became friends at a computer lab at New York University and soon they knew what they were passionate about. Its passion was all about online games and earning in return.

Today, this unicorn company is India’s leading digital skills games company with exciting full-stack games on its list. People just enjoy and love to visit their platform and play exciting games. Games 24x7 has raised a total funding of $107 million over seven rounds. Other than that, their latest funding was in Series C where they received $75 million. The company value of Games 24x7 is $2.5 billion.

Open Financial Technologies

Open Financial Technologies is the first financial company that is on our list. Open is a Bangalore-based financial company. The mission of this financial company is to simplify business banking in India and around the world. Open Financial Technologies is a neo-banking platform that is currently changing the fundamentals of how to do banking in the business world.

The conception offered by this company has been highly appreciated by many investors. Interestingly, this company was named India’s 100th Unicorn. Some of the investors of this unique company are IIFL Finance, Temasek, VISA, Google, TigerGlobal, Better, SBI Investment, BEENEXT, and many more.

Physics Wallah

Ed-Tech companies are surely doing a great job when it comes to the education sector. Some famous people and companies like Khan Sir, Vivek Bindra, Byjus’s, Unacademy, and many more are doing an effective job in the Indian market. Today, India has more than 4000 Ed-tech companies that are fuelling the education system. This beautiful education system is playing a great role in accelerating the economy as a whole.

In the same way, PhysicsWallah has become a unicorn start-up in no time because of its unique teaching style. Started in 2016 by Alakh Pandey on YouTube have become so famous today. He founded this company along with Prateek Maheshwari.

Pandey built an app that offered various courses to students. These courses include some of the top competitive exams in India such as JEE, NEET, UPSC, and many more. Today, PhysicsWallah is valued at more than $1 billion. PhysicsWallah not only teaches students but, delivers books and study materials as well.

Purplle Beauty

When we have every industry on our top unicorn list why not have a makeup product company? This beauty company was founded way back in 2011 by Manish Taneja and Rahul Dash. The headquarters of this beauty company is located in Mumbai, Ghatkopar West Assembly constituency. Faces Cosmetics India Private Limited is the subsidiary of this cosmetic brand.

Purplle offers more than 30,000+ makeup products to consumers in the Indian market. In 2022, Purplle raised $33 million and made its name on the unicorn list. Other than offering makeup, Purplle is quite famous for offering natural skin care products in the market.

LeadSquared

Leadsquared is a new-age SaaS platform. This platform offers end-to-end sales, marketing, and onboarding automation solutions to customers. This platform has gathered many national and international clients ever since it started. This company was founded way back in 2013 by Nilesh Patel, Sudhakar Gorti, and Prashant Singh.

LeadSquared is built using a vertical-centric, use-case-first approach, instead of keeping features and another such thing in software. The mission of this software company is to become the best sales execution platform for a high-velocity sales team. Today, the company is valued at more than $1 billion and has made its name in the top unicorn startups in 2023.

OneCard

OneCard is India’s best metal credit card which has lots of features to offer. This metal credit card is offered in collaboration with several other providers. Some of the providers are SBM Bank, Federal Bank, South Indian Bank, BOB Financial, and CSB Bank. Interestingly, this credit card is lifetime-free with no annual charges or inconvenience fees.

Such type of metal cards is best suited for people who are quite new to credit cards. The card offers unique and highly attractive offers to people and that is how they earned a huge customer base. As of 2022, the company is valued at $1.2 billion.

5ire

One of the newest companies in India to make it in the top unicorn companies in 2023. 5ire was founded in 2021 by Pratik Gauri. It is a fifth-generation blockchain ecosystem that has been built with the United Nations' sustainable development goals in mind. Interestingly, 5ire is the world’s first sustainable blockchain. The mission of this company is to develop blockchain for the fifth industrial revolution.

The goal of this blockchain company is very simple and that is to work hard and provide finance platforms that could revolutionize access to capital. Some of the backers and partners of this blockchain company are Ana Capital, Alpha Crypto, GoldFinX, Menboots, Duck DAO, SDGuild, and many more. In 2021, this company received $121 million from 13 different investors.

Shiprocket

Shiprocket is India’s most used e-Commerce logistics and shipping software solution. Most of us have surely used their service. The service quality offered by this company is just amazing. You can easily become a part of Shiprocket and deliver your products from one place to another. This shipment company aims to democratize the e-Commerce landscape of the country.

The company has tied up with multiple courier companies to get many orders and deliver them to the right people. Today, hundreds of e-Commerce brands have built their trust and provided a delightful customer experience to them in return. In the previous year (2022) this company made itself into the top unicorn list in India in 2023. The company is valued at $1.3 billion.

Tata 1MG

Tata is not on the unicorn list is just impossible. Tata 1MG is a healthcare platform that is based in Gurugram, India. This healthcare platform is India’s best online pharmacy that offers almost every prescribed medicine to customers. Today, Tata 1MG has made its presence in more than 100 cities in India. This healthcare company was founded back in 2015 by Prashant Tandon, Vikas Chauhan, and Gaurav Agarwal.

Other than offering medicines, this healthcare platform offers herbal supplements as well. Other than that, the offers and benefits offered by Tata 1MG gathered an enormous customer base. Some interesting features offered by this healthcare platform are e-pharmacy, online consultations, authentic information, and free lab tests. Today, Tata 1MG is valued at between $1.25- $1.30 billion.

MolBio Diagnostics

About Molbio Diagnostics:

Molbio Diagnostics is founded in Goa in 2010. It is an innovative IVD company that develops and manufactures novel healthcare technologies. Molbio is the innovator and manufacturer of the indigenous technology platform 'Truenat Real-Time PCR' which can test 40+ diseases and is a portable, IoT-enabled platform that fits in a suitcase. Molbio Diagnostics also became India's first unicorn in the medical technology sector. It can test diseases like COVID-19, Tuberculosis, Dengue, Chikungunya, HPV, HIV, Hepatitis, and many more by providing early and accurate test results.

BillDesk

Another financial or banking company is in our top 15 unicorn startup list. BillDesk is the current leading BBPOU in the Bharat Bill Payment System (BBPS). In simple, BillDesk is an Indian-based online payment gateway that is headquartered in Mumbai. The basic service offered by this banking financial company is to offer a superior online payment platform for all of its clients. Clients can easily view their banking details and buy products using this platform.

This banking company was founded way back in 2000 by M.N Sirnivasu, Ajay Kaushal, and Karthik Ganapati. Over the years, BillDesk Bill Pay has evolved as the dominant way to users for various payment methods. Today, BillDesk is one of the largest bill payment ecosystems in the world. Today, the total valuation of BillDesk is $4.7 billion.

Dream 11

Did you know? The first fantasy sport was launched way back in 1995. It was launched by ESPN entirely on the internet that included baseball as the main sport. In the same way, Dream 11 is an Indian fantasy sports platform. This platform allows users to play cricket, football, hockey, baseball, volleyball, rugby, handball, basketball, and many more.

In 2019, Dream 11 became the first Indian fantasy sports company to become a unicorn. Today, this fantasy sports platform has over 120 million+ active users. All of these users participate in the game and win real prize money. Interestingly, back in 2021 Dream 11's latest funding round was a Series F where they received a whopping amount of $ 840 million. This helped the company become a unicorn startup.

Paytm

Other digital payment and financial service companies are on our list. Transferring money online started in India using this platform. Initially, almost every person in the country used PayTM to transfer or receive any amount. The easy access to the transaction made PayTM quite famous in the Indian market. This digital payment and financial service company was started way back in 2010 by Vijay Shekhar under One97 Communications. They made their unicorn entry in 2015. The headquarters of this digital payment application is located in Noida. PayTM received a total funding of $4.6 billion back in 2015 from some famous investors like Warren Buffet, Alibaba, One97, and many more.

Renew Power

The name of this company suggests that it has something to do with recycling. ReNew Power is India's largest renewable energy company. The headquarters of this company is located in Gurgaon, Haryana. This renewable resources generation company was founded way back in 2011 by Sumant Sinha.

They made their unicorn entry back in 2017 generating and receiving enormous funds from many investors. Interestingly, in 2016, this company became the first renewable energy IPP to raise rupee-dominated masala bonds.

Policy Bazaar

We all might have heard this name in any television advertisement, magazine, or the internet. PolicyBazaar is an insurance company and is India's best and largest online insurance marketplace. Currently, more than 9 million individuals have bought the best insurance plans offered by this online platform.

This insurance-selling company was founded way back in 2008 but, made its unicorn entry in 2018. The founders of this insurance company are Yashish Dahiya, Avaneesh Nirjar, and Alok Bansal. Today, the total valuation of this insurance-selling company is $6 billion.