INDIA IS NOW HOME TO 81 UNICORNS

After Mamaearth and GlobalBees joined the list in the final days of 2021, India now has 81 unicorn startups. Both companies, which operate in the ecommerce space, have raised capital valued at more than $1 billion.

On December 29, GlobalBees announced that it had raised $111.5 million in a round led by Premji Invest. New investor Steadview Capital, as well as existing investors SoftBank and FirstCry, participated in the round. The company is worth $1.1 billion.

The business is based on the Thras.io model, which is a New York-based e-commerce player that acquires small merchants and brands listed on the Amazon marketplace. The brand scales up Amazon sellers’ businesses after acquiring them.

Supam Maheshwari, cofounder of online baby product retailer FirstCry, and Nitin Agarwal, former president and group chief investment officer (CIO) of Edelweiss, founded GlobalBees. Earlier this year, it raised $150 million.
Mamaearth, on the other hand, is a direct to consumer (D2C) brand that sells beauty and personal care products both online and in stores. According to regulatory filings, the company has raised nearly $80 million (589 crore). This appears to be a small portion of a larger round.
Mamaearth has raised the latest round at a valuation of $1.07 billion, according to Entrackr, which broke the news first. When it raised $50 million earlier this year, the company was valued at $750 million.

Get to know the pulses of the Indian startup ecosystem in reality by attending “INDIA FIRST TECH STARTUP CONCLAVE & AWARDS’22-Delhi Chapter” organized by the All India Council for robotics and automation, supported by the Ministry of electronics and information technology.

The event is scheduled to be held on the 17th and 18th of February 2022, marking the biggest tech startup event next year. The event brings together the speakers that are the best breed of entrepreneurs, innovators, venture capitalists, government department’s representatives, business model creators, consultants, policy-makers, academicians, support groups, business coaches and business practitioners.

The Platform helps startups to ramp up their innovative ideas and show off their services and products to attract investors. The experts of the industry will address and discuss all the innovations happening around the startup environment that youth empowerment and new-age tech business ideas can grow.

Click to know more about India’s biggest tech startup event: IndiaFirst Tech Start up | AICRA

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