Every startup dreams of reaching the top someday. For some, the road to success takes a long time, but for others, it only takes a while for them to shoot for the stars since their product or service serves a universal purpose. These 5 startups have been declared as ‘unicorns’ in 2020.
Firstcry, Asia’s most popular baby products company received a Series E funding from Japan’s Softbank Visions fund this year. They have been able to raise $296 million. Now, Firstcry has assured its loyal customers that it will be able to provide more than two lakh baby products and services starting this year.
Pine Labs was the first startup to reach unicorn status in January 2020, being backed up by Mastercard. Even though the amount generated via revenue has been undisclosed. It was started in 1998 by Lokvir Kapoor in Noida. Nearly $30 billion payments are transacted through Pine Labs.
Unacademy is an ed-tech startup that entered the unicorn branding this year, having raised $150 million funding. It was founded in 2015 as a YouTube channel and currently has a network of around 18,000 teachers and more than 350,000 subscribers. With the newly acquired monetary flow, they plan on using new resources and getting fresh talent onboard to facilitate their services.
The most popular e-commerce platform for all beauty and cosmetic brands in India, Nykaa E Retail, has seen a flourishing growth all these years. It raised Rs. 66.64 crores in May itself and is owned by CEO Falguni Nayar. Currently, the Mumbai based company lies at a value of $1.2 billion. It was launched in 2012 by Nayar, the Former MD of Kotak Mahindra Bank.
Razorpay reached a state of abundance thanks to the coronavirus pandemic, which made people rely on more secure payment options than cash on delivery methods. The Bengaluru based startup reached ‘unicorn’ status in October 2020, as it raised $100 million in Series D funding and was also backed by Sequoia Capital India. Razorpay was launched in 2014 by co-founders Shashank Kumar and Harshil Mathur. It has powered many prominent businesses in India including BookMyShow, Ola, Zomato, Swiggy, Airtel, and even ICICI Prudential.