Top 10 Unicorn Startups in India 2024

Top 10 Unicorn Startups in India 2024

“Anyone can have a solution, but if no one cares about it, unfortunately, you are not going to have a very big company.” – Melanie Perkins, Canva

Today, India has become one of the top countries for opportunities. Every day, a new start-up rises. Being a country with a huge youth population, the concept of entrepreneurship is flourishing in various sectors such as agriculture tech, health tech, fintech, e-commerce tech, clean energy, etc. It is quickly becoming an opportunity where everyone wants to invest. Various initiatives launched by the government of India are also great initiatives to encourage entrepreneurship. Even though there are many plus points that promote start-up culture in India, there are also challenges like funding, a complex regulatory environment, technology, etc.

Unicorn Start-up, whose name itself suggests something magical, was coined by venture capitalist Aileen Lee to symbolize successful start-ups in 2013. Unicorn start-ups are those that are nearly worth $1 billion or more and are privately held. Usually, such start-ups are highly innovative and have a rapid potential for growth.

India today has many start-ups that have acquired the state of unicorn, but the first ever start-up to be termed a unicorn start-up in India was InMobi. It was founded in 2007 by Naveen Tiwari, Amit Gupta, Abhay Singhal, and Mohit Saxena in Bangalore. It focused on mobile advertising and technology. By 2011, this start-up had a valuation of $1 billion and a global presence in over 160 countries.

In this article, you will read about the top 10 start-ups in India for 2024 that we have listed because of their sublime success. These unicorn start-ups are the pride of India.

Top 10 Unicorn Startups in India 2024

1. Xpressbees
2. Shiprocket
3. Swiggy
4. Livspace
5. LeadSquared
6. Dream11
7. Ola Electric
8. Flipkart
9. OneCard
10. Zepto

Xpressbees

Topping our list of the top 10 unicorn start-ups in India in 2024 is Xpressbees, which was initially the logistic extension of an e-commerce platform for baby products. It was launched in 2015 by Amitava Saha and Supam Maheshwari. The booming logistic industry created Xpressbees as an independent identity, and by February 22, it had achieved unicorn status after private equity firms valued it at over $1 billion. Today. Its current valuation exceeds more than $1.2 billion, and it is one of the leading logistics companies in India.

Shiprocket

The next start-up to be on a list of the top 10 unicorn start-ups in India in 2024 is Shiprocket. It is a platform that automates shipping for e-commerce. It was founded by Saahil Goel, Gautam Kapoor, and Vishesh Khurana in 2017, and by August 2022, after a funding round, it had exceeded the valuation of $1 billion, making it a unicorn start-up. Currently, it is valued at $1.3 billion.

Swiggy

Swiggy, one of the top food delivery platforms, which was founded in 2014 by Sriharsha Majety, Nandan Reddy, and Rahul Jaimini in Bangalore, became a unicorn in 2018. Swiggy is currently valued at $10.7 billion, making it one of the most valued start-ups in India.

Livspace

Livspace was created by Anuj Srivastava and Ramakant Sharma in 2014. It is a leading interior design and home renovation platform that offers a variety of simplified home design and renovation processes using its technology. In February 2022, it became a unique start-up after raising approximately $180 million. Today, it is valued at approximately $1.2 billion.

LeadSquared

LeadSquared is a platform that helps streamline various processes for businesses. It provides sales automation services, CRM services, etc. LeadSquared was founded by Nilesh Patel, Prashant Singh, and Sudhakar Gort in 2011. By June 2022, it had successfully become a unicorn with a Series C funding round. Currently, it is valued at US$1.1 billion.

Dream11

The next startup on our list of the top 10 unicorn start-ups in India in 2024 is Dream11. Dream11 is a fantasy sports platform that allows its users to create virtual teams to play various sports. It was launched by Harsh Jain and Bhavit Sheth in 2008. By 2019, it became India’s first gaming start-up to reach unicorn status by raising $100 million from Steadview Capital. Currently, it is valued at around $8 billion.

Ola Electric

Ola Electric is another famous startup on a list of the top 10 unicorn start-ups in India in 2024. It is a subsidiary of the giant Ola. In 2019, Ola Electric became a unicorn startup after raising around $250 million from SoftBank. It launched its first electric scooter in 2021 and is now valued at $6 billion.

Flipkart

India’s very own first e-commerce giant, Flipkart, was founded by Sachin and Binny Bansal in 2007. Flipkart initially started as an online book store but quickly expanded to different categories. In 2012, it became a unicorn start-up, and by 2018, it was acquired by Walmart for $16 billion. Flipkart is valued at around $37.6 billion and is one of the most prominent start-ups in India.

OneCard

One Card, founded by Anurag Sinha, Vibhav Hathi, and Rupesh Kumar in 2018, is a mobile credit card experience-provider company. The company prides itself on its sleek, metal credit card and various rewards through its app. One Card raised $100 million in July 2022 and became a unicorn start-up. It is estimated to be worth around $1.4 billion.

Zepto

The final unicorn startup to be on our list of the top 10 unicorn start-ups in India in 2024 is Zepto. Zepto was founded by Aadit Palicha and Kaivalya Vohra in 2024 with the concept of delivering groceries and daily essentials within 10 minutes. It is a fast-growing, quick-commerce start-up that became a unicorn start-up in 2022. Currently, Zepto is valued at around $1.5 billion.

The above 10 unicorn start-ups in India are one of the most successful start-up stories that have had a remarkable journey from inception to being today’s giants.