Which is a good startup in india
India becomes the land of the unicorns
There are currently 32 startups in India, startups valued at over a billion dollars. One reason is the rapid expansion of the Internet.
Fintech company One 97 is worth $ 16 billion. This makes it the most valuable startup in India. Its flagship product is called “Paytm” and enables cashless payments in shops and online throughout India.
One 97 is just one of a total of 32 unicorns in India. The so-called unicorns are startups that are worth over a billion dollars. This includes, for example, the Zomato delivery app, which can be used to order food and dishes. Or Oyo, an application that mediates budget hotels and apartments, especially in Asia.
The number of such unicorns is increasing in India. According to the CB Insights platform, eight have been added this year alone. According to the Bloomberg news agency, six unicorns were created in India within a week at the beginning of April.
India has been trying for years to remove hurdles for foreign investors. In the case of the Unicorns, it seems to have worked. Both American giants such as Airbnb and the Chinese giant Alibaba are investing in Indian startups. A kind of Silicon Valley of South Asia has emerged in Bangalore.
Investors see the potential of Indian internet users. Only a good half of India's 1.3 billion population has access to the Internet. Mobile Internet is spreading rapidly, there is hardly any other country where mobile data costs as little as in India.
More and more Indians are using service apps that make everyday life easier: order food, order medication, order a driver. India's middle class is increasingly using the smartphone in all areas of life - the corona pandemic is likely to have accelerated this development.
Indians are getting comfortable
The Meesho platform, one of the new unicorns, enables small businesses to offer their products online. Meesho was India's first startup that Facebook invested in. Cred, on the other hand, enables credit card payments, while Digit Insurance allows users to take out insurance online.
According to "Bloomberg Quint", Indian unicorns need less and less time to collect the first billion in investment dollars. Investors are apparently rushing to the startups from Bangalore. Whether the young companies will live up to the hopes that investors have placed in them and will one day become profitable - that is another question.
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