BYJU’s, Zomato, Dream11 among India’s most valuable PE/VC-funded companies as per Hurun

• The second edition of the Burgundy Private Hurun India 500 report featured India’s 500 most valuable companies with combined sales of $820 billion.
  
• The highest amount of funding was received by edtech platform BYJU’s, according to Hurun India.
  
• As per the IVCA-EY Report, PE/VC recorded investments worth $8.3 billion in India in Q3 2022, declining 69% y–o-y.
  

The second edition of the Burgundy Private Hurun India 500 report featured India’s 500 most valuable companies with combined sales of $820 billion. While many large startups have raised public funds last year, many new-age companies also feature in the list of most valuable companies funded by private equity and venture capital investors.

“In the long run, start-up value creation is going to significantly increase the velocity of companies entering the future editions of the Burgundy Private Hurun India 500,” said Anas Rahman Junaid, MD and Chief Researcher, Hurun India. He also added that public markets listing, which is considered a litmus test for valuations, has ended up becoming a poisoned chalice for a few.

Some of the biggest value shedders in the list are start-ups such as Policy Bazaar, Paytm, Zomato and Nykaa which lost 68%, 59%, 50% and 48% respectively in value since last year. “This trend is a clear indication that start-up valuations based on “2021 parameters” in private markets are up for a bumpy ride,” Junaid said.

As per the IVCA-EY Report, PE/VC recorded investments worth $8.3 billion in India in Q3 2022, declining 69% y–o-y.

Here are the 10 companies with the maximum funding by private equity and venture capitalists (PE/VC) investors, as per the Burgundy Private Hurun India 500 report.

1. BYJU's (2011)
Total Funding: ₹47,680 crore

BYJU’s is the only edtech company to feature on the list. In October this year, the decacorn laid off 2,500 employees to consolidate its businesses. The same month, it raised $250 million from existing investors.

1. Ola (2010)
   

2. Ola (2010)
Total funding: ₹41,110 crore

The Bengaluru-based ridesharing company Ola was planning to launch its IPO this year but it has been delayed. Ola is among the 19 companies included in the transport and logistics industry by Hurun.

3. Paytm (2010)
Total funding: ₹39,460 crore

The Noida-based digital payments and financial services company ranked third on the list. In 2022, Paytm performed strongly on expansion of loan disbursement with reported improvement in earnings before interests, taxes, depreciation and amortisation.

4. OYO (2012)
Total funding: ₹32,880 crore

The Gurugram-based multinational hotel chain is the only startup from the hospitality industry to feature on this list. OYO has over 157,000 storefronts and its app crossed the 100 million download mark in 2021.

5. Swiggy (2014)
Total funding: ₹29,600 crore

Founded in 2014, the food-delivery start-up Swiggy ranked fifth on the list. The 8-year-old startup with headquarters in Bengaluru has already spread to 500 Indian cities.

6. Zomato (2010)
Total funding: ₹20,550 crore

The Gurugram-based food delivery startup Zomato, which took the sixth position on the list, witnessed a slew of resignations by top executives in 2022, including co-founder Mohit Gupta’s resignation.

7. Sharechat (2015)
Total funding: ₹13,980 crore

Founded in 2015, Google and Temasek Holdings owned Sharechat is an Indian social media enterprise based in Bengaluru. It also came up with alternatives to Tiktok in India, like Moj and Moj Lite.

8. Dailyhunt (2007)
Total funding: ₹13,980 crore

Coming under the media and entertainment industry, Dailyhunt is owned by VerSe Innovation. It raised $805 million in funding this year. The content aggregation platform is available in 14 Indian languages and was founded in 2007.

9. Dream11 (2008)
Total funding: ₹13,320 crore

Dream11 is India’s first fantasy sports company to become a unicorn in 2019. Its co-founder Harsh Jain offered jobs to laid off employees at Meta and Twitter this year. Founded in 2008, the company deals with over 13 crore users playing fantasy cricket, football, hockey, handball etc on the platform.

10. PharmEasy (2015)
Total funding: ₹13,150 crore

PharmEasy is an e-pharmacy company founded in 2015 that sells medicines and medical essentials online. The Mumbai based company is the only company from the healthcare industry on this list.

11. Udaan (2016)
Total funding: ₹13,150 crore

Bengaluru based B2B e-commerce platform Udaan shared the tenth spot with PharmEasy. Udaan enables companies, especially small and medium enterprises, to sell their products online. Amid a startup capital crunch, it also raised $120 million in convertible notes and debt in October alone.

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