India has two new unicorns!
Automobile classifieds platform CarDekho raised $250 million, entering the unicorn club with a valuation of $1.2 billion. This is the first unicorn headquartered in Jaipur, Rajasthan. This is also the largest ever fundraise by the company.
IPO-bound fintech firm MobiKwik also turned unicorn after a recent secondary ESOP sale round led by former Blackstone India Head Mathew Cyriac.
The Gurugram-based company filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) in July.
Through the IPO, Mobikwik plans to offer shares aggregating to Rs 1,900 crore. In fact, the company is eyeing an IPO valuation between $1.5 billion and $1.7 billion, which is expected to hit the market before Diwali.
With the addition of CarDekho and Mobikwik, the Indian startup ecosystem now boasts 66 unicorns, half of which were added during 2021.
How many more startups do you think will enter the $1-billion club before the year ends?
In an engaging fireside chat with YourStory, Esha Tiwary, General Manager of Entrepreneur First India, talks about how the programme helps aspiring entrepreneurs find the right co-founder and scale their ideas from scratch.
She goes on to talk about EF’s pioneered model of talent investing that supports ambitious and talented individuals to maximise their impact and accelerate their entrepreneurial journey.
Editor’s Pick: 100X Entrepreneur Podcast
Raj Shamani, an entrepreneur, content creator, and motivational speaker, had no plans of taking the entrepreneurial route when he was young. At 16, Raj wanted to become a rapper, but life had other plans in store for him.
In this episode of the 100X Entrepreneur podcast, Raj Shamani talks about how he began his entrepreneurial and content creator journey. Read more.
Helping real estate brands build a digital presence
Mumbai-based Realatte — founded by Rahul Goyal and Rohan Shah — is leveraging technology to become a one-stop digital marketing agency for real estate developers. Among other things, it helps clients design campaigns and track brand objectives.
Founded in 2017, it is a Google Premier Partner and Facebook marketing badged agency. Read more.
News & UpdatesBengaluru-based blockchain Arcana Network raised $2.3 million from leading investors in the blockchain ecosystem led by Republic Crypto and Woodstock Fund. The startup plans to expand its team, deepen its global penetration through community building, and developer evangelism.
Roposo, a consumer internet platform and part of the InMobi Group, made its foray into the online commerce space with creator-led live entertainment commerce. The platform will add a new dimension to online shopping with the coming together of creators, content, and commerce.
Hospitality unicorn OYO appointed Paralympic medallist Deepa Malik as an independent director on the company’s board of directors. The 2016 Paralympic silver medalist is also the President of the Paralympic Committee of India (PCI).
Digital B2B platform Flipkart Wholesale said the company’s grocery member base has increased 30 percent to over five lakh, and 70 percent of them have adopted ecommerce during the ‘Big Billion Days’ festive sale event.
Before you go, stay inspired with… “Over the last decade, MobiKwik has grown on the strength of its employees to become a leading fintech player in India.”
— Upasana Taku, Chairperson, Co-founder, and COO, MobiKwik
Now get the Daily Capsule in your inbox. Subscribe to our newsletter today!
Read more: yourstory.com