Page 3 - Unicorn Companies

The great Indian unicorn conundrum: High valuations and higher losses

Companies get investors' financing though many of them not on path to profitability

Down 66% YoY, total deal value in Q3FY23 second lowest since 2017: Report

According to Grant Thornton Bharat's Dealtracker September 2022 report, a total of 450 deals worth $10.2 billion were recorded in Q3FY23, 25 per cent below the 600 deals recorded in Q3FY22

Ed-tech firm FrontRow lays off 75% of staff, day after Byju's move

Second round of sacking to save costs reduces FrontRow's headcount to 45 people

Only 2 Indian startups turned unicorns in Q3 amid funding winter: Report

Only two startups in India, Shiprocket and OneCard, attained the unicorn status (valuation $1 billion and above) in the July-September period, a PwC India report showed on Thursday.

Unicorns become 'cockroaches' as tech funding dries up: Report

Global venture funding slumped to $74.5 billion in the past three months, its lowest level in nine quarters, according to CB Insights.

Unicorns feel funding winter chill, see fall in numbers: Hurun global index

The valuation firms like Quikr, Paytm Mall, have dropped below $1 billion. Shopclues and Blinkit were acquired for a fraction of their billion-dollar valuation

Flickstree raises $5 mn in pre-series B round led by Venture Catalysts

Flickstree is a content and marketing tech start-up that uses AI to create free branded video content; its data engine promote these videos, which keep churning transactions in auto-pilot mode

Healthtech start-up Butterfly Learnings raises $1.5 mn in seed funding

Round saw participation from Insitor Partners, 9Unicorns, Venture Catalysts and a clutch of other investors

Urban Company's consolidated losses more than double to Rs 514 cr in FY22

Home services marketplace Urban Company, formerly Urban Clap, on Friday said its consolidated losses more than doubled to Rs 514 crore in FY22. According to a regulatory filing, the Accel India- and Tiger Global-backed company had posted a loss of Rs 249 crore in FY21. The consolidated income of the unicorn firm grew by 75.7 per cent to Rs 509.2 crore in FY22 from Rs 289.8 crore in the preceding financial year. According to Tofler, parent firm of the company Urbanclap Technology India Private Limited has posted a loss of Rs 404 crore during FY22, which is 95 per cent more compared to previous fiscal, and the revenue of the company increased by 36 per cent to Rs 387 crore. "Urbanclap Technology India Private Limited, a home services marketplace, reported its revenues for the financial year 2021-22 as Rs 387 crore, a 36 per cent jump since the last financial year. The company further reported a net loss of Rs 404 crore during the same fiscal. This is a 95 per cent increase from the l

Did Byju's bite off more than it could chew?

Education technology company Byju's FY21 revenues came in flat, and its losses have widened about 20 times. While it may survive this crisis, questions still remain around the future of the unicorn

Byju's audited revenue expected to be lower than projected numbers

Byju Raveendran, co-founder and the CEO of the unicorn, has briefed the shareholders and the board members about the difference

India edges out China in creating new unicorns in H1CY22: Hurun report

As many as 147 unicorns worldwide saw their valuations drop in the last six months

SoftBank, others in talks to lead $75-million funding in GoMechanic

"The conversations between the investors and GoMechanic are still going on and one of the investors has also shared the term sheet with the firm," said a person familiar with the development

Online pharmacy platform Tata 1mg turns unicorn after raising $40 mn

Funding round was led by Tata Digital; Tata 1mg has become 105th unicorn in India

MCA mulls imposing fines on unicorns over delay in filing financials

Swiggy had delayed its FY21 result filing by 11 months and Ola Electric was at least 13 months late in filing the financials with the RoC

Unacademy CMO Karan Shroff quits firm year after being made partner

CEO recently said edtech unicorn may see a funding dry spell for at least 12-18 months and it would cut costs

BlackSoil crosses $300 mn in venture debt deals, predicts robust market

Company that provides debt capital says its assets under management have grown 55% YoY

Startups increasingly raising venture debt as investors fear funding winter

Most investors are more cautious in deploying capital towards growth businesses, especially in late-stage startup investments, which are key drivers in a funding cycle

Servify raises Rs 520 crore in new round; aims for IPO in two years

Servify, a company that manages lifecycle of devices for several smartphone vendors in many markets, on Wednesday said it has raised USD 65 million (around Rs 520 crore) in a round led by Singularity Growth Opportunity Fund. The startup, which serves global brands like Samsung and Apple, has raised the money at a valuation which is just under USD 1 billion, its founder Sreevathsa Prabhakar told PTI, adding that it would have achieved the 'unicorn' status after this round itself, if not for a few challenging conditions set by investors. It has consciously raised money from domestic investors in this round because it aims to go public through an Initial Public Offering (IPO) in the next 18-24 months, he said. Investors in the new round include family offices like that of Pidilite, and also existing investors like Iron Pillar, BEENEXT, Blume Ventures, and DMI Sparkle Fund, he said, adding there is a possibility of it raising another USD 5-7 million in the next month to close the round

Why Bengaluru might get a 'unicorn' logo and where it might be placed

A unicorn logo. That's how Karnataka hopes to celebrate Bengaluru, a city that has the most number of startups and unicorns in the country