<ul><li>The company has raised $180 million from <keyword id="6354544" type="General" weightage="20" keywordseo="kkr" source="Orion">KKR</keyword>, <keyword id="6371031" type="General" weightage="20" keywordseo="ikea" source="Orion">Ikea</keyword> and others.</li><li>It plans to use this capital to enter APAC, MENA and Australia.</li><li><keyword id="2644491" type="General" weightage="20" keywordseo="livspace" source="Orion">Livspace</keyword> is the fourth Indian startup to turn into a unicorn in 2022.</li></ul>Home interior and renovation company Livspace on Tuesday announced that it turned into a unicorn by crossing the billion-dollar valuation mark. The company has raised $180 million in a funding round led by KKR &amp; Co. Swedish retail Ikea, along with the company’s existing backers like Jungle Ventures, Venturi Partners and Peugeot, also invested in this round. Overall, the company has raised nearly half a billion to date. The company plans to use this capital to double down on international expansion and take on local competitors like HomeLane, Stokers, At Home Group, Pepperfry and American Furniture Warehouse. "Our business is growing exponentially in both India and Singapore, and we aim to replicate this playbook, launch new solutions and accelerate our launches across new markets with operations across APAC, MENA and Australia,” Anuj Srivastava, cofounder and chief executive officer (CEO) of Livspace, said in a statement. So far, four Indian startups have turned into a unicorn in 2022. This includes AI analytics <a href="https://www.businessinsider.in/business/startups/fractal-raised-360-million-funding-from-tpg-at-1-billion-valuation/articleshow/88712189.cms">Fractal</a>, edtech startup <a href="https://www.businessinsider.in/business/startups/news/lead-school-joins-byjus-upgrad-as-the-sixth-edtech-unicorn-of-india/articleshow/88867816.cms">LeadSchool</a> and software-as-a-service (SaaS) company Darwinbox. Mamaearth too had officially announced its unicorn funding this year, but the development was already <a href="https://www.businessinsider.in/business/startups/news/india-is-home-to-81-unicorns-now-as-mamaearth-globalbees-make-it-to-the-list/articleshow/88558418.cms">reported based on regulatory filings </a>by the end of 2021. The year 2021 was the best one for Indian startups as <a href="https://www.businessinsider.in/business/startups/news/2021-indias-year-of-the-unicorn-and-its-many-high-points/slidelist/88528773.cms">four startups turned a unicorn every month</a>. Overall, 44 startups were valued over $1 billion last year. Piyush Goyal, the minister of industry and commerce, hopes that India will create 75 unicorns in 2022. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/adani-wilmar-tvs-motor-bharti-airtel-irctc-and-other-hot-stocks-on-february-8/slidelist/89418927.cms">Adani Wilmar, TVS Motor, Bharti Airtel, IRCTC and other hot stocks on February 8</a> <a href="https://www.businessinsider.in/business/startups/news/interview-indias-latest-software-unicorn-is-wetting-its-feet-in-america-after-holding-its-horses-for-seven-years/articleshow/89409491.cms">INTERVIEW: India’s latest software unicorn is wetting its feet in America after holding its horses for seven years</a> <a href="https://www.businessinsider.in/business/startups/news/future-groups-kishore-biyani-mohandas-pai-and-68-others-invest-in-former-twitter-india-heads-latest-startup/articleshow/89403045.cms">Future Group’s Kishore Biyani, Mohandas Pai and 68 others invest in former Twitter India head’s latest startup</a>

Reliance investor KKR, Ikea and others turn Livspace into a unicorn

New Indian unicorns get rarer in 2022 as funding winter sets in

<ul><li>Fourteen Indian companies turned <keyword id="152045" type="General" weightage="20" keywordseo="unicorn" source="Orion">unicorn</keyword> between January and June 1, 2022.</li><li>Forty four companies hit this milestone throughout 2021.</li><li>India currently ranks third in overall unicorns created, with the USA taking a lead.</li></ul>The Indian startup valuations have taken a hit since April this year. Yet India has still managed to create more unicorns in the first five months of 2022 compared to the year before. According to a recent report by market intelligence provider Tracxn, 14 Indian companies turned unicorns — companies valued over a billion dollars — between January and June 1, 2022. Last year, the number stood at 13 during the same time frame. Notably, 2021 was the best year for Indian startups especially in terms of unicorn creation. Forty four companies hit this milestone in 2021, representing a four-fold increase from the 11 unicorns created in 2020. India currently ranks third in overall unicorns created, with the US taking the lead. China ranks second and India has overtaken the United Kingdom, in terms of unicorn creation. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sector </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Month of unicorn round </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fractal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SaaS (software-as-a-service) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">January 2022 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lead School </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Edtech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">January 2022 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">DarwinBox </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SaaS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">January 2022 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">DealShare </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ecommerce </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">January 2022 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ElasticRun </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Logistics Service </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">February 2022 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">LivSpace </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Interior Design </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">February 2022 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">XpressBees </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Logistics </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">February 2022 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Uniphore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SaaS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">February 2022 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hasura </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SaaS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">February 2022 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CredAvenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fintech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">March 2022 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amagi Media Labs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SaaS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">March 2022 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Oxyzo Financial Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fintech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">March 2022 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Games 24x7 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gaming </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">March 2022 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Open Financial Technology </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fintech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">May 2022 </td></tr></tbody></table>Source: Venture Intelligence <cmsannotation type="cmsannotation" annotationid="75 unicorns in 75 weeks" comment="subhead" text="75 unicorns in 75 weeks">75 unicorns in 75 weeks</cmsannotation> Earlier this year, the minister of commerce and industry Piyush Goyal had said that the Indian startup ecosystem should aim to raise 75 unicorns in 75 weeks to the 75th anniversary of Independence. While the target did seem possible as the country witnessed the entry of 10 unicorns in the first 53 days, things have slowed down since then. The ongoing Russia-Ukraine war, impending recession fears, and Fed rate interest hikes caused a <a href="https://www.businessinsider.in/business/startups/news/the-worst-for-indian-startups-is-yet-to-come-be-prepared-for-layoffs-unicorn-slowdown-and-startup-shutdowns-in-2022/articleshow/91681195.cms">funding slowdown in the Indian startup ecosystem</a>. The investors are cautious about spending their money, leading to correction in stock prices. With this, the Indian startup ecosystem has been preparing for a funding winter by increasing their runway. Several companies — including <a href="https://www.businessinsider.in/business/startups/news/about-8000-people-have-been-impacted-by-startup-layoffs-in-india/slidelist/91682916.cms">Ola, Unacademy, Cars24, Vedantu, MFine and others</a> — have laid off a chunk of their workforce. Gaurav Munjal, the co-founder and CEO of edtech unicorn Unacademy, believes that the slowdown in<a href="https://www.businessinsider.in/business/startups/news/unacademy-ceo-gaurav-munjal-asks-employees-to-prepare-for-a-funding-winter-that-could-last-24-months/articleshow/91812288.cms"> funding can last anywhere between 12-24 months</a>. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/ril-maruti-suzuki-tata-motors-bajaj-auto-among-stock-to-watch-out-for-on-june-2/slidelist/91953190.cms" style="">RIL, Maruti Suzuki, Tata Motors, Bajaj Auto among stock to watch out for on June 2</a> <a href="https://www.businessinsider.in/business/corporates/news/infosys-could-remain-the-vendor-of-choice-even-if-recession-comes-say-analysts/articleshow/91952813.cms" style="">Infosys could remain the ‘vendor of choice’ even if recession comes, say analysts</a> <a href="https://www.businessinsider.in/business/telecom/news/mukesh-ambanis-jio-lags-behind-airtel-which-is-the-top-telecom-brand-in-india/articleshow/91935279.cms" style="">Mukesh Ambani's Jio lags behind Airtel which is the top telecom brand in India</a>

India created 14 unicorns in the first half of 2022 — before funding slowdown hit them

<ul><li><keyword id="12778882" type="General" weightage="20" keywordseo="oxyzo" source="Orion">Oxyzo</keyword> Financial Services has raised $200 million, marking its entry into the billion dollar startups club.</li><li><keyword id="3259676" type="General" weightage="20" keywordseo="ofbusiness" source="Orion">OfBusiness</keyword> also joins Ola and InMobi in the list of companies that have at least two unicorns under their banner. </li><li>This is the first external round raised by Oxyzo, which was initially started as OfBusiness’ financing platform and was later made into a separate entity.</li></ul>Oxyzo Financial Services — the lending arm of existing unicorn OfBusiness — has raised $200 million, marking its entry into the billion dollar startups club. With this, OfBusiness also joins Ola and InMobi in the list of companies that have at least two unicorns under their banner. Ola and Ola Electric come under ANI Technologies’ banner, whereas InMobi and Glance are under InMobi Technology Services. A unicorn, in startup parlance, is a company valued at or over a billion dollars. So far this year, Mamaearth, Lead School, DealShare, Livspace, Uniphore and Amagi are among the few startups that have been valued over a billion dollars. Oxyzo Financial Services’s Series A round was led by Alpha Wave. Tiger Global, Norwest Venture Partners, Matrix Partners and Creation Investments also co-led the round. This is the first external round raised by Oxyzo, which was initially started as OfBusiness’ financing platform and was later made into a separate entity. This is not only the largest Series A round ever for an Indian startup, but Oxyzo has also become the first startup to turn into a unicorn at a Series A round itself. OfBusiness had entered the unicorn club last year in July, after it raised a <a href="https://www.businessinsider.in/business/news/sme-platform-ofbusiness-becomes-the-newest-unicorn-from-india/articleshow/84923227.cms">$160 million round</a> led by SoftBank. The seven-year-old company helps the country's small and medium businesses (SMEs) in getting raw materials online. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/tech/enterprise/news/could-the-days-of-mooching-off-netflix-accounts-come-to-an-end-in-india-heres-what-experts-say/articleshow/90372447.cms">Could the days of mooching off Netflix accounts come to an end in India? Here’s what experts say</a> <a href="https://www.businessinsider.in/stock-market/news/infosys-adani-ports-iocl-hpcl-bpcl-and-other-hot-stocks-on-march-23/slidelist/90388486.cms" data-type="tilCustomLink">Infosys, Adani Ports, IOCL, HPCL, BPCL and other hot stocks on March 23</a> <a href="https://www.businessinsider.in/business/news/chumbak-to-open-more-than-50-stores-in-the-next-2-3-years/articleshow/90377751.cms">INTERVIEW: Chumbak to open more than 50 stores in the next 2-3 years</a>

OfBusiness joins Ola and InMobi in a special club of unicorns

<ul><li>Indian startups have raised $8 billion in the first two months of 2022. </li><li>Indian startups have already cracked 277 deals in January and February 2022. </li><li>The ecosystem has also witnessed the entry of 10 startups into the unicorn club.</li></ul>Indian <keyword id="138263" type="General" weightage="20" keywordseo="startup" source="Orion">startup</keyword>s have raised $8 billion in the first two months of 2022, according to Business Insider’s calculations. This means that nearly $1 billion was invested in the startup ecosystem on a weekly basis in January and February. The ecosystem had raised <a href="https://economictimes.indiatimes.com/tech/funding/indian-startups-raised-42-billion-in-2021-report/articleshow/88875670.cms">$42 billion</a> across 1,579 deals all through 2021 and <a href="https://inc42.com/reports/the-annual-indian-tech-startup-funding-report-2020/">$11.5 billion</a> across 924 deals in 2020. Indian startups have already cracked 277 deals in the first two month of 2022. This includes Reliance-backed Dunzo, Nykaa’s rival Purple, Zomato’s rival Swiggy and others. The data has been based on Entrackr’s weekly <keyword id="6357455" type="General" weightage="20" keywordseo="funding" source="Orion">funding</keyword> <a href="https://entrackr.com/category/weekly-funding-report/">reports</a>. <div type="image" title="Indian startups raised around $1 billion a week in January and February" msid="89890610" hostid="261"></div> The ecosystem has also witnessed the entry of <a href="https://www.businessinsider.in/business/startups/news/total-ten-startups-have-turned-unicorns-till-now-in-2022-in-india/slidelist/89774609.cms">10 startups into the unicorn club</a>, which includes startups valued over a billion dollars. The list of 2022 includes software-as-a-service (SaaS) companies Fractal, DarwinBox, Hasura and Uniphore, edtech company Lead School, logistics company XpressBees, and ecommerce platforms Livspace, Dealshare and ElasticRun. Direct-to-consumer (D2C) Mamaearth too announced its entry into the unicorn club on January 1 this year. However, it was already reported in the media based on regulatory filings of the company. India is currently home to 91 unicorns, according to Venture Intelligence data. This includes companies like BharatPe, Cred, Groww, Zerodha, Upstox, Spinny, Cars24, ShareChat and more. Finance Minister Nirmala Sitharaman, during the budget speech of 2022, <a href="https://www.businessinsider.in/budget/news/budget-for-startups-2022-finance-ministry-proposes-to-extend-tax-holiday-by-another-year/articleshow/89269955.cms">highlighted </a>that “startups have emerged as a driver of growth for our economy”. Commerce and industry minister Piyush Goyal in January said that India should aim to raise 75 unicorns in 75 weeks to the 75th anniversary of Independence. "We have 43 unicorns added in 45 weeks, since the start of 'Azadi ka Amrit Mahotsav' on March 12, 2021,” he said. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/as-long-as-mukesh-ambani-is-there-to-rescue-the-market-doesnt-care-about-future-retails-financial-stress/articleshow/89886569.cms" style="">As long as Mukesh Ambani is there to rescue, the market doesn't care about Future Retail's financial stress</a> <a href="https://www.businessinsider.in/finance/banks/news/what-is-swift-how-does-it-work-why-is-it-important-and-how-nations-are-using-it-to-punish-russia/articleshow/89886091.cms" style="">What is SWIFT, how does it work, why is it important and how nations are using it to punish Russia</a> <a href="https://www.businessinsider.in/stock-market/news/sensex-falls-sharply-on-worsening-russia-ukraine-war-hdfc-bank-axis-bank-eicher-motors-among-biggest-losers/articleshow/89886018.cms">Markets remain worried as energy rich Russia faces harsh sanctions from western countries</a>

Indian startups raised around $1 billion a week in January and February

As <keyword id="6357067" type="General" weightage="20" keywordseo="layoffs" source="Orion">layoffs</keyword> continue to deepen amid recession fears, more than 23,000 employees have been laid off by at least 82 startups in India, and the list is only growing, the media reported. According to a report in Inc42, 19 edtech startups, including four unicorns, have alone sacked more than 8,460 employees to date. The startups that lead the layoff tally include BYJU'S, Ola, OYO, Meesho, MPL, LivSpace, Innovaccer, Udaan, Unacademy and Vedantu, among others. Home interiors and renovation platform Livspace this week laid off at least 100 employees as part of cost-cutting measures. Last week, SaaS platform for online stores Dukaan laid off nearly 30 per cent of its workforce, or around 60 employees -- its second layoff in about six months. Healthcare unicorn Pristyn Care has also sacked up to 350 employees across departments and impacted employees from sales, tech and product teams. Online higher education company upGrad laid off nearly 30 per cent of its workforce at its subsidiary "Campus". In February, end-to-end global delivery management platform FarEye laid off 90 employees, which was its second layoffs in about eight months amid the economic meltdown. With the onset of January, more and more <keyword id="982553" type="General" weightage="20" keywordseo="Indian-startups" source="Orion">Indian startups</keyword> are slashing jobs across the spectrum. Social media company ShareChat (Mohalla Tech Pvt Ltd) laid off 20 per cent of its workforce due to uncertain market conditions. The layoff impacted about 500 people at the company. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/haircut-on-cases-resolved-through-ibc-not-very-encouraging-says-kotak-report/articleshow/98972743.cms">Haircut on cases resolved through IBC not very encouraging, says Kotak report</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/desk-bombing-monk-mode-other-emerging-trends-at-the-workplace-as-per-linkedin/slidelist/98973217.cms">Desk-bombing, monk mode &amp; other emerging trends at the workplace</a>

Over 23,000 techies lose jobs in nearly 82 Indian startups to date

<ul><li>Shares of <keyword id="236770" type="General" weightage="20" keywordseo="adani-wilmar" source="Orion">Adani Wilmar</keyword> listed at ₹221 while the shares were allotted at ₹230 per share.</li><li>The IPO received good demand from investors as it was subscribed 18.33 times on the last day of the bidding.</li><li>The market capitalisation of the company stood at ₹28,722 crore.</li></ul>Shares of fast moving consumer goods (FMCG) company Adani Wilmar – known for edible oil brand Fortune – made a dismal listing on the National Stock Exchange (NSE) and BSE at a 3.9% discount on the issue price of ₹230 apiece. Adani Wilmar’s listing has disappointed initial public offering (IPO) investors who had expected around a 10% premium from the Adani Group company. Even analysts had expected a 10-15% premium because of the FMCG company’s leadership in branded edible oil business. Analysts believed the IPO of Adani Wilmar got decent subscriptions as the company is a leader in branded edible oils and packaged foods in India. The IPO valuations are slightly lower than its listed peers. The current market scenario is choppy, but can expect a listing gain of 10-15% based on GMP, Parth Nyati, founder at Tradingo, had said. Post-listing, the market capitalisation of the company stood at ₹28,722 crore, according to BSE data. The IPO was open between January 27 to January 31 ⁠and was oversubscribed 18.33 times by investors. Adani Wilmar is a joint venture between Adani Group and Singapore-based Wilmar, which was formed in 1999. It sells cooking oils under the Fortune brand as well as various other food products like rice and sugar. Adani Wilmar is now the seventh Adani Group company listed on Indian exchanges as currently six Adani group companies are listed namely Adani Enterprises, Adani Transmission, Adani Green Energy, Adani Power, Adani Total Gas, and Adani Ports and Special Economic Zone. The company’s portfolio of products spans across three categories -- edible oil, packaged food and FMCG, and industry essentials. The Ahmedabad-based company has witnessed good growth in revenue and profitability in the last three years. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Wilmar </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net profit </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹37,090 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹727 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹29,657 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹460 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹28,797 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹375 crore </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/livspace-raises-unicorn-round-from-kkr-ikea-to-enter-middle-east-australia/articleshow/89419992.cms">Reliance investor KKR, Ikea and others turn Livspace into a unicorn</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/interview-indias-latest-software-unicorn-is-wetting-its-feet-in-america-after-holding-its-horses-for-seven-years/articleshow/89409491.cms">INTERVIEW: India’s latest software unicorn is wetting its feet in America after holding its horses for seven years</a>

Adani Wilmar reverses poor listing gains; stock heads up 8.5% in 15 minutes

<ul><li>This is one of the largest seed funding rounds closed by an Indian startup to date.</li><li>It had raised $2 million in a pre-seed round, earlier this year, from Sequoia <keyword id="6426108" type="UNKNOWN" weightage="20" keywordseo="Surge">Surge</keyword> and other angel investors.</li><li>It plans to utilise the latest seed capital to expand its team, accelerate development of its tech and data platform.</li></ul><keyword id="350225" type="PERSON" weightage="20" keywordseo="Klub">Klub</keyword>, a fintech startup that provides revenue-based financing, has raised a seed funding of $20 million (about ₹150 crore) in a mix of equity and debt. This is one of the largest seed funding round closed by an Indian startup to date. In June, Thrasio-style startup 10Club had raised <a href="https://www.businessinsider.in/business/startups/news/bhavna-suresh-has-closed-indias-largest-seed-round-for-her-nine-month-old-startup-10club/articleshow/83978841.cms">$40 million</a> in seed funding. This was the largest seed funding round closed by a startup in India. Klub’s seed round was led by existing investors 9Unicorns and Sequoia Capital India’s accelerator programme Surge. New investors Alter Global and Japan's GMO VenturePartners also participated in this round. The investment round was represented by Wadhwa Law Offices as the legal counsel. Founded in 2019 by Ishita Verma and Anurakt Jain, Klub offers flexible growth capital ranging between ₹2 lakh to ₹30 crore to digital brands. The platform offers funding — without equity dilution or personal guarantees — for recurring marketing, inventory and other capital expenditures. Revenue based financing is a new form of fundraising that allows companies or brands to raise growth capital, without having to give up on any equity via venture capital rounds and or have debts. The repayment of the capital raised from Klub happens as a percentage of future revenues. “The digital revolution in India has leveled the playing field for local businesses, and we are thrilled to have a front-row seat in this multi trillion-dollar opportunity… India’s digital commerce ecosystem requires more than ‘one size fits all’ financing, and with this round, we can further our mission of enabling growth for loved brands,” Klub’s cofounder Jain said. It plans to utilise the latest seed capital to expand its team, accelerate development of its tech and data platform, and expand its product offerings and market segments to make Klub. It plans to deploy ₹500 crore over the next few quarters in local brands as well as digital small and medium enterprises (SMEs). The fintech startup had closed a $2 million pre-seed round in January 2021. CRED founder Kunal Shah, Livspace founder Ramakant Sharma, BlackBuck founder Rajesh Yabaji, among others also invested in the company’s pre-seed stage round. Klub uses deep data-driven analytics to make funding decisions faster. The fintech startup claims that over 500 businesses have explored funding with the platform recently. SEE ALSO <a href="https://www.businessinsider.in/retail/news/a-third-of-internet-users-would-be-actively-shopping-online-by-the-end-of-this-decade-offline-retail-to-take-a-back-seat/articleshow/85390712.cms">A third of internet users would be actively shopping online by the end of this decade, offline retail to take a back seat</a> <a href="https://www.businessinsider.in/business/startups/news/with-pharmeasy-mobikwik-and-ixigo-all-set-to-hit-the-public-market-orios-plans-to-go-deeper-into-pre-ipo-bets/articleshow/85359703.cms">With PharmEasy, MobiKwik and ixigo all set to hit the public market, Orios plans to go deeper into pre-IPO bets</a> <a href="https://www.businessinsider.in/business/auto/news/tamil-nadu-government-is-upset-about-losing-money-on-luxury-cars/articleshow/85322536.cms">Tamil Nadu government is upset about losing money on luxury cars</a>

Revenue-based financing startup Klub raises $20 million in seed round

<ul><li>The Series A round was led by Matrix Partners India, with partnership from Prime Venture Partners and others.</li><li><keyword id="8064711" type="General" weightage="20" keywordseo="oto" source="Orion">OTO</keyword> currently has its presence in 5 cities and plans to enter additional 15 cities with this funding round.</li><li><keyword id="11989989" type="General" weightage="20" keywordseo="oto-offers" source="Orion">OTO offers</keyword> a leasing-like financing model for two-wheeler purchases, at 30% lower EMIs than traditional businesses.</li></ul>Two-wheeler financing and buying platform OTO has raised $6 million in a funding round led by Matrix Partners to grow its user base in India. The company has currently marked its presence in five cities — Chennai, Bengaluru, Pune, Hyderabad, and Mysore. It plans to use this funding to launch its services in 15 new cities, including Delhi, Nashik, Indore And Vijayawada. It also plans to double its team size by March 2022 and hire aggressively across verticals like technology, product, marketing and operations. OTO’s Series A round also witnessed participation from existing and new investors like Prime Venture Partners, 9 Unicorns and Better Capital. Angel investors like OfBusiness’ Asish Mohapatra, Livspace’s Ramakant Sharma, Cred’s Kunal Shah, GrowthStory.in’s K Ganesh and BharatPe’s Ashneer Grover and Suhail Sameer also participated in the round. Founded in 2018 by Sumit Chhazed and Harsh Saruparia, OTO offers a leasing-like financing model for two-wheeler purchases. The company allows customers to buy a vehicle at an upfront payment like any other loan and pay an additional equated monthly instalment (EMI) on a monthly basis. The company claims that its EMIs are 30% lower than traditional options. At the end of the leasing tenure, the customers have the option to either retain, return or upgrade their vehicles. Co-founder Chhazed told Business Insider if a customer buys a two-wheeler worth ₹40,000 from another financing solution, the EMI should be somewhere around ₹3800 monthly for a period of two years. OTO, on the other hand, would provide the vehicle at ₹2500 EMI for a period of two years. At the end of the tenure the customer can choose to return the vehicle and pay nothing. They can also choose to pay the rest of the amount in installments and retain the vehicle or upgrade it. Chhazed explained that newage customers like to upgrade or change their vehicle every two-three years, therefore returning the vehicle is a handy option for them. Besides this, many two wheelers buyers are individuals who have moved to other cities for better opportunities. OTO partners with several non-banking financial companies (NBFCs) to provide more financing options to the customers. It also offers full auto lifecycle management ranging between credit underwriting to insurance, maintenance, and eventual resale of the vehicle. “In the world’s largest 2-wheeler market (India), the consumer’s preference is changing – buying online, stretching their budget for quality and upgrading faster. OTO caters to this new consumer with a new model of buying, financing and ownership,” Vikram Vaidyanathan, managing director at Matrix India, told Business Insider. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/prosus-buys-indian-payment-gateway-firm-billdesk-in-one-of-the-countrys-biggest-fintech-deals-ever/articleshow/85790849.cms">Prosus buys payment gateway firm BillDesk in one of India's biggest fintech deals ever</a> <a href="https://www.businessinsider.in/business/auto/news/tesla-inches-closer-to-its-india-debut-as-four-models-approved/articleshow/85792404.cms">Tesla inches closer to its India debut as four models approved</a> <a href="https://www.businessinsider.in/science/environment/news/the-floods-in-assam-have-so-far-affected-21-districts-with-950-villages-affected-in-total/articleshow/85792970.cms">Pictures of devastation due to Assam floods that has killed two and displaced people in nearly a thousand villages in 21 districts</a>

You Searched For "livspace unicorn" and got 9 results

Reliance investor KKR, Ikea and others turn Livspace into a unicorn

Kritti Bhalla

New Indian unicorns get rarer in 2022 as funding winter sets in

Eetika Kapoor

India created 14 unicorns in the first half of 2022 — before funding slowdown hit them

Kritti Bhalla

OfBusiness joins Ola and InMobi in a special club of unicorns

Kritti Bhalla

Indian startups raised around $1 billion a week in January and February

Kritti Bhalla

Over 23,000 techies lose jobs in nearly 82 Indian startups to date

IANS

Adani Wilmar reverses poor listing gains; stock heads up 8.5% in 15 minutes

Bhakti Makwana

Revenue-based financing startup Klub raises $20 million in seed round

Kritti Bhalla

Two-wheeler financing company OTO raises $6 million to offer services in 15 Indian cities

Kritti Bhalla