Unicorns write a new chapter in India’s startup story by birthing baby unicorns

2020 has not been the best of years, but it has definitely been a boom for the internet economy. Despite the economic impact of the covid-19 pandemic, India saw more than 10 startups bag the unicorn tag. India also saw these 4 startups cross the $1 billion mark in valuation.

Zenoti

Hyderabad and Bellevue-based Zenoti has acquired the latest funding of $160M Series D investment led by Advent International. It has secured a place in the list of Indian unicorn companies. Zenoti is a cloud platform for the beauty and wellness industry which is offering a wide range of services including booking appointments, billing & payments, customer relationship management, staff management, inventory control, and analytics. With the latest funding company has touched to a $ 1 billion valuations.

The latest funding round was led by the global private equity investor advent international, through Tech and Sunley House Capital, an affiliate of Advent. Tiger Global and Steadview Partners also participated in the round.

Dailyhunt

Officials of Daily hunt has announced that after 11 years jouner the comapany has obtained title of Unicorn company with latet funding of $ 100 million . The funding round was led by AlphaWave (a unit of Falcon Edge Capital), Google and Microsoft. According to the company the new capital raises VerSe Innovation’s value at over $1 billion, designating it the first unicorn company in tech for local languages.

The company has cleared its view about the use of the latest funding the fresh funding will be utilized for scaling up its short-form video app josh, will expand its local language articles offerings, to create a unique content creator ecosystem and enhance AI and MI in it to provide a better experience to customers and persuade them to spread good word of mouth among the audience.

After Tiktok got banned in India Dailyhunt launched Josh video streaming app to cater to people who were using Tiktok earlier the main agend of behind banning tiktok was to avoid the threat of the sale of users data. Tiktok garbbed the attention of many companies by generating huge revenue that made companies realize the videomstreaming segment is the most profitable business.

Cars24

Cars24 a online platform for sell of secondhand car has emerged as new unicorn with the latest funding of $200 million. The latest series E funding round was led by  by DST Global with participation from existing investors including Exor Seeds, Moore Strategic Ventures, and Unbound.The company is the latest addition to the surging list of unicorn in India and has surpassed the $1 billion valuation in the current round.

The company experienced good growth even in Covid Crisis as the demand for second hand has been increased because due to fear of getting infected with virus people are more inclined towards buying their private vehicles to travel and refraining themselves from use of public transport in top cities. Startups such as Gurugram-based Cars24 offer users an easier and trusted way to buy and sell used cars.

The latest obtained capital will be used to diversify Cars24’s new lines of business such as pre-owned two-wheelers, customer financing, and vehicle servicing. As per the statement passed by Chopra “ healthy proportion of funding will also be used to hire professional and skill people and will cars24 trusted brand and aggressively works towards increasing market share from single to double digits.

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