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From Dream 11 to Swiggy: A look at the growth story of 10 Indian unicorns in 2022

From Dream 11 to Swiggy: A look at the growth story of 10 Indian unicorns in 2022

From Dream 11 to Swiggy: A look at the growth story of 10 Indian unicorns in 2022
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By CNBCTV18.com Dec 16, 2022 3:49:02 PM IST (Published)

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SUMMARY

Since the start of 2022, the Indian startup ecosystem has been reeling under the global tech turbulence brought on by inflationary pressures and high-interest rates, which battered technology stocks. As investors shied away, capital funding for Indian startups fell to $2.7 billion in the quarter that ended September 30 from nearly $12 billion in the same period a year ago, The Economic Times reported, quoting data and analysis provider Venture Intelligence. Despite these macroeconomic headwinds, a brigade of Indian startups have manoeuvred the current downturn and dabbled with growth and profitability. Here’s a look at some of the biggest Indian startups in 2022.

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In 2020, the world was jolted by the COVID-19 pandemic and experts had then suggested that it would take sometime for companies to make a come back following the lockdowns implemented to curb the spread of the virus. However, the Indian startup ecosystem managed to surprise everyone, and churned out unicorns, one after another. Come to 2021, when normalcy started to return, it felt like these unicorns would again take sometime to return to the growth path. However, if you look at how 2022 turned out for the startup sector. The growth story of Indian unicorns, tell a different story. Let's take a look at 10 Indian Unicorns and how they have grown over the past 12 months. (Image: Shutterstock)

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Dream11 | This fantasy sports platform was founded in 2008. It enables users to play fantasy sports like cricket, hockey, basketball, kabaddi and football. Dream11 was the first Indian gaming company to join the unicorn club. For the fiscal ended March 31, 2022, the company posted a 216 percent rise in net profit at Rs 328.84 crore against Rs 104.01 crore in the previous year. Dream11 is valued at $8 billion. (Image: Shutterstock)

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Byju's | Byju's is a global edtech startup founded in 2011. Byju's, which provides adaptive, engaging, and effective learning solutions to students, earned a revenue of Rs 3,039.4 crore in FY22. It is valued at $22 billion. (Image: Shutterstock)

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Flipkart | E-commerce giant Flipkart, which was founded in February 2012, is valued at $37.6 billion. The firm counts SoftBank, Tiger Global, Qatar Investment Authority, Canada Pension Plan Investment Board, GIC, Tencent and Franklin Templeton as its investors. (Image: Shutterstock)

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Paytm |  Fintech startup Paytm was founded in 2010 and has provided a digital ecosystem for consumers and merchants. The platform enables users to make quick and safe UPI payments, EMI payments, book movie tickets, and more. In FY 2022, Paytm generated revenue of Rs 4,846 crore. It now has a valuation of $16 billion. (Image: Shutterstock)

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Swiggy |  Since its start in 2014, online food ordering and delivery platform Swiggy has become active in more than 500 Indian cities. It became a decacorn, a company valued at over $10 billion, this year after it raised $700 million in Invesco-led new funding. Swiggy is now valued at $10.7 billion. (Image: Shutterstock)

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OYO Rooms |  Hospitality and travel-tech firm OYO Rooms was founded in 2012. In 2022, the platform reported revenue of Rs 1,459.32 crore in the three-month period ended June 30. It is currently valued at $9.6 billion. (Image: Shutterstock)

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RazorPay |  Bengaluru-based RazorPay, one of the highest-valued fintech startups in India, posted a net profit of Rs 7 crore on a standalone basis in FY21. It posted revenues of Rs 841.2 crore in FY21, which is 65.2 percent higher than Rs 508.9 crore in FY20. At present, it is valued at $7.5 billion. (Image: Shutterstock)

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Ola Cabs | At the beginning of the year, cab ride-hailing aggregator Ola Cabs raised Rs 150 crore from Axis Growth Avenues AIF and Arrow Multi-Asset Fund. At present, its valuation is $7.3 billion.(Image: Shutterstock)

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CRED | In the last fiscal, fintech unicorn CRED reported 341.6 percent jump in revenue from operations even as marketing expenses continued to eat into its bottom line. It is valued at $6.4 billion, according to Venture Intelligence. (Image: Shutterstock)

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PharmEasy |  Indian e-pharmacy startup PharmEasy was started in 2015. The online platform sells medicine and healthcare products and also connects local clinics to medical stores. It has recently started connecting doctors to patients online as well. PharmEasy posted a 48 percent rise in total revenue to Rs 6,461.1 crore in FY22 from Rs 4,363.2 crore a year ago. It is currently valued at $5.6 billion. (Image: Shutterstock)

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