In the historic year 2021, the rapidly expanding unicorn sector within the Indian startup ecosystem experienced growth never before seen. Thus, what is unicorn company? In addition, we have observed an average of three unicorns emerging each month in 2021.
Even though the world of unicorns is rapidly expanding in India, not everyone knows what a unicorn is or how it connects to developing a new business. So what is unicorn startup? To help you understand terminology like “the most fundraising deals” or “adding the most number of unicorn startups in a quarter,” let’s start with the fundamentals.
Privately-held startup business with a $1 billion valuation is referred to as a “unicorn” in the venture capital sector. A few years ago, the phrase gained popularity. While a substantial fraction of unicorns produces hardware, most of their goods are software.
Key Factors to Consider to Become an Unicorn Company
Integrating technology into business
Compared to the pre-tech era, it is simpler for businesses to reach new consumers and drive sales. It is unnecessary to mention that technology has evolved into a fundamental tool for growth and distribution. The foundation of creating unicorn firms is prioritising software and digitalisation technologies. This factor must be adapted if we want to know what is unicorn company.
The vast majority of unicorn firms are software firms focused on technology. These are user-friendly pieces of software that simplify our lives. This little trick is equally essential to disruptive innovation.
Aim Globally
You must establish yourself in the global market if your objective is to reach $1 million as soon as possible. As a result, a global audience should be your target audience. This aim must be there if we want to know what is unicorn startup.
Some requirements and ideals differ from one culture and one society to another. To advance your startup and become a unicorn, you must focus on the needs and values of the entire world.
Customer-focused marketing
Thanks to the customer-oriented marketing principle, you have a benefit while building a unicorn firm. Successful unicorn firms share the attention they place on marketing to customers. This factor must be adapted if we want to know what is unicorn company.
The likelihood of a reasonable conversion rate is very high as long as you consistently put your clients at the heart of your marketing and sales efforts.
Seeking financers
Some theoretical gimmicks are presented here. What about investment, then? Network, network, network is the obvious solution.
Most unicorns are constructed through cunning alliances. Angel investors can invest in high-value sector companies, achieving unicorn status and making a significant global breakthrough. They are the ones who can answer what a unicorn valuation of a particular company is.
Innovative Disruption in the Unicorn Sector
The first step is to stand out from the crowd of competitors you currently face. This paradigm-shifting distinction doesn’t have to be extreme. It must be both straightforward and wise.
Let’s look at the Uber example to help with clarification. Before Uber, the transportation industry had reached a sufficient level of development. It will be a grave error if we believe it so. This strategy must be adapted if we want to know what is unicorn company.
Uber changed things by offering a fresh viewpoint on the current system. Both the driver and the client experienced significant convenience as a result. It is ultimately victorious, after all.
The Top 5 Unicorns in 2022 in India
Flipkart
Flipkart is upending the e-commerce sector. Flipkart was initially only a small e-commerce website when Binny and Sachin Bansal founded it in 2007, but today it is one of the most well-known. At the moment, it is valued at $37.6 billion. After InMobi, it was named the second unicorn of India in 2012–13. If you want to get the answer to what is unicorn company, you can research more about Flipkart.
BharatPe
An Indian merchant aggregator and digital payment application are called Bharat pe. This platform operates by scanning QR codes. Bharat Pe is a private limited corporation owned by Resilient Innovation Private Limited; it is not a government organisation.
On August 4, 2021, the company, worth $ 2.85 billion, joined the club of unicorns. A unicorn began in 2018 with the help of Ashneer Grover, Bhavik Koladiya, and Shashvat Nakrani.
Nykaa
Nykaa began as a cosmetics-focused e-commerce platform when it was established in 2012 by Falguni Nayar. Its website provides a vast selection of skincare and cosmetics items.
It obtained 100 crores (about US$13 million) in funding from Steadview Capital in March 2020. On the internet, there are almost 200,000 things available. In addition to the website, it has launched over 26 retail stores throughout India. If you want to get the answer to what is unicorn startup, you can research more about this company.
Oyo Rooms
Bhavish Aggarwal and Ankit Bhati formed this unicorn, which has its headquartered in Bangalore and works in the transportation sector.
The rooms at Oyo start at a typical cost of Rs. 999, but this business has partnered with some of the most excellent existing hotels to offer travellers accommodations for a substantially reduced price. It has a $9 billion valuation as of July 2021.
Sharechat
It began as an Indian video-sharing social networking platform when it was established in 2015 by Bhanu Pratap Singh, Ankush Sachdeva and Farid Ahsan.
Sharechat’s primary services include messaging, media sharing, and tagging. There are like 50 million and more content creators using ShareChat’s platform. In September 2020, the company passed the 1 billion dollar mark, increasing its pre-Series E valuation to $630 million. It is valued at $5 billion. If you want to get the answer to what is a unicorn valuation, you can research more about Sharechat.
Conclusion
Hence, the above-mentioned top 5 Indian unicorns assist people with their daily needs while developing rapidly. But to become one such unicorn, a founder needs a venture capitalist. But where to find them? InvestorBase.io appears here, offering guidance on how to raise money for entrepreneurs. It is a platform that assists young business owners in obtaining capital by pointing them in the right direction. They can find possible investors here, get in touch with them, and get the information and contacts they need to pitch. There is no need to be anxious that any concept will fail as a result. Develop solid ideas, and they will help you present them to the right financiers.
