MobiKwik, CarDekho, Mamaearth are among the next likely unicorns in India.
The Hurun Research Institute on Thursday released the Hurun India Future Unicorn List 2021, a ranking of India's start-ups founded in the 2000s, which have not yet been listed on stock exchange.
The other start-ups in the list are Zilingo, Mobile Premier League, Rebel Foods, Cure.Fit, Spinny, Rate Gain, and GreyOrange.
Sequoia-backed online retail store Zilingo is set to become one of India's next unicorns, it said.
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In 2015, Ankiti Bose and Dhruv Kapoor started Zilingo, an online B2B platform for small fashion merchants. Zilingo has raised a total investment of $310 mn to date and is backed by marquee investors such as Sequoia Capital, Temasek Holdings, Beenext, EDB Investments, and others.
Bengaluru-based gaming company Mobile Premier League takes the second spot on the list. The Bengaluru-based start-up was founded by Sai Srinivas Kiran and Shubham Malhotra in 2018 and has 76 million users in India.
It raised a total investment of $230 mn from eminent investors such as Sequoia Capital, Moore Strategic Ventures, SIG, Pegasus Tech Ventures, Founders Circle and others. In April 2021, it acquired GamingMonk for an undisclosed amount to widen its e-sports portfolio.
Hurun Report defines "Gazelle" as a start-up founded after the year 2000 and has the potential to go Unicorn in 2 years. The Gazelles on the Hurun India Future Unicorn List 2021 have an estimated valuation ranging from $500 mn to $1 bn.
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With 6 companies, e-commerce leads the Gazelles followed by FinTech and Artificial Intelligence, Gaming, and Shared Economy with 3 each. Zilingo, a less than six-year-old start-up, is leading the Gazelle pack followed by gaming start-up Mobile Premier League.
