The Silicon Review - Best Business Review Magazine 10 Best Startups of the Year 2019 Asia | Page 40

Firms
That
Hit the
Unicorn
List In
2018
S
tartups in India witnessed several positive outcomes in
the year 2018. The firms saw a 108 percent growth from
funding to global expansion and about $4.2 billion funds
were raised. Other than that, 2018 was an extraordinarily lucky
year for eight startups that joined the unicorn club crossing the
mark of $1 billion valuations. However, the seed-funded startups
demonstrated moderate development in terms of funding.
Below mentioned are the startups that achieved the unicorn status
in a few years of their inception.
• Byju’s
Bangalore-based edtech and online tutoring firm, Think and Learn
Private Ltd has made it big this December by becoming the most
esteemed startup achieving a net worth of $3.6 billion. Working
with the brand name, Byju’s, the company steered its way into the
unicorn club this year while also raising $540 million in funding by
Naspers Ventures to support its expansion plans.
It is the first investment made in Asia by the Chan Zuckerberg
Initiative, and now, it aims to expand into the markets across the
UK, US and Australia. Additionally, the firm is also eyeing for IPO.
• Oyo Rooms
Oyo Rooms was founded by RiteshAgarwal to develop a listing
and network of budget-friendly hotel and accommodation options.
With Oyo Rooms, Ritesh sets a clear example that nothing can
stop you from achieving big success if you have the will to do so.
He founded the company when he was only 19 years old, and has
now led the company to become the second most valuable startup
in the country.
It raised $1 billion from SoftBank Vision Fund, Sequoia Capital and
Lightspeed Venture Partners. Oyo Rooms is expanding outside of
Asia and has been working hard to capture the markets in China,
Southeast Asia, UAE and UK. It has also acquired weddingz.in to
dive into the $40 billion wedding industry of India.
• Paytm Mall
Paytm Mall, the e-retailer of Paytm aims to provide a fusion
of the mall and bazaar to its customers. It is lucky to have
found a place in the unicorn club early in 2018. After raising
$450 million as per reports, Paytm Mall’s valuation reached
$1 billion in April. The company is making further efforts and
investments to enhance its technology to buy and sell products.
It has launched several new initiatives including the QR-code
technique that enables customers to scan the product, browse
information and make their purchases through the Paytm Mall
app.
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JANUARY 2019