Five Startups Enter Unicorn Club In First Four Months Of 2021
Four startups turned into Unicorns, a company with valuation of $1 billion or more, in the first four months of 2021. Groww, Meesho, ShareChat and API Holdings became Unicorns after latest round of funding valuing all of them above $1 billion or Rs 7,450 crore. India's leading social commerce platform, on Monday announced that it raised $300 million in fresh funding led by SoftBank Vision Fund 2 valuing Meesho at $2.1 billion.
Newly founded stock market investment platform Groww on Wednesday raised $83 million led by Tiger Global at a valuation of $1 billion. Started in 2017, Groww has become one of India's fastest-growing investment platforms, with more than 1.5 crore registered users. Groww enables users to invest in stocks, mutual funds, ETFs, IPOs, and gold in a simple, paperless, and hassle-free manner.
Founder of online pharmacy firm PharmEasy - API Holding - entered the unicorn club on Wednesday after it announced raising $350 million from Prosus Ventures and TPG Growth valuing the startup at $1.5 billion. New funds will deepen market engagement to over 100K pharmacies and over 20 million patients annually across the company's platforms, API Holdings said in a press release.
Gupshup, conversational messaging application, on Thursday raised $100 million in funding from Tiger Global Management, propelling the company's valuation to $1.4 billion. This funding will be followed by a second close with significant additional funds raised from more investors, to be announced later, the company said in a press release.
Content-sharing platform ShareChat said it raised $502 million in fresh funding from Tiger Global, Snap Inc and some existing investors such as Twitter Inc, valuing it at more than $2 billion.
The funding was led by US venture capital firm Lightspeed Venture Partners and American investment firm Tiger, ShareChat said in a statement on Thursday.
Tiger Global and Snap, owner of popular photo-messaging app Snapchat, are new investors in the Indian platform.
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