These women-led startups entered the Unicorn Club

Over the past few years, the start-up ecosystem in India has seen an increase in the number of companies founded/owned by women. According to a report by MSCI ESG, women-led companies generated a return on equity of 10.1%, compared to 7.4% globally. Also, with women at the top, the corporate culture has improved significantly, according to reports.

Here is a list of Indian startups where women broke the glass ceiling and steered their businesses into the unicorn club.

Falguni Nayyar and Nykaa

Founded in 2012 by Falguni Nayyar, Nykaa became the first women-led company to be listed on the National Stock Exchange. It is also the first female-founded startup to go unicorn in 2020. The e-commerce brand that caters specifically to women’s beauty and lifestyle products debuted in the market in November 2021, with the company’s IPO valuation at Rs 95,437 crore. With more than 80 stores nationwide, the company’s current valuation stands at $13 billion. An alumnus of IIM Ahmedabad, Nayyar worked with Kotak Mahindra Group for 19 years, where she also served as the company’s Managing Director.

Ghazal Alagh and Mamaearth

Founded in 2016 by Ghazal Alagh and her husband Varun Alagh, Mamaearth is the first female-founded startup that became a unicorn in 2022. Mamaearth is owned by parent company Honasa Consumer which currently has a valuation of $1.15 billion. Mamaearth is a direct-to-consumer (D2C) brand that provides consumers with natural beauty products. It also has seven physical stores across India, while its products are also available on e-commerce sites such as Amazon, Flipkart and Nykaa.

Priyanka Gill, Naiyaa Saggi and the group Good Glamm

Founded in 2015 by Priyanka Gill, Naiyaa Saggi and Darpan Sanghvi, The Good Glamm Group is the largest content conglomerate in South Asia. It has become India’s first direct-to-consumer (DTC) beauty and personal care brand to enter the unicorn club. The company, which has several brands under its wings such as POPxo, MyGlamm, Baby Chakra, Scoopwhoop and Plixoo, raised $150 million in its Series D funding round in November 2021, at a valuation of $1.2 billion. of dollars. Apart from a gigantic digital presence, the company’s flagship MyGlamm has over 30,000 retail stores across India.

Upansana Taku and Mobikwik

Founded in 2009 by Upasana Taku and Bipin Upreet Singh, Mobikwik is a digital payment company. The IPO-linked fintech startup is currently valued at $1 billion, following its ESOP (Employees Stock Ownership) secondary round last year. Through the IPO, the company plans to raise Rs 1,900 crore this year.

Ruchi Dua and Acko General Insurance

Founded in 2017 by Vinod Dua and Ruchi Dua, Acko General Insurance is a subsidiary of Acko Technology and Services Private Limited which caters to private digital general insurance. The company is backed by Amazon, Accent, Elevation, Ascent Capital and Flipkart co-founder Binny Bansal and currently holds a valuation of $1.1 billion. With over 70 million online customers, the company has partnered with Amazon, Ola, redbus, Zomato and Urban Company.

Gazal Kalra and Rivigo

Founded in 2014 by Deepak Garg and Gazal Kalra, Rivigo is India’s 25th unicorn in 2019. The Gurugram-based company, which caters to the logistics industry, is valued at over $1.07 billion. Operating on the relay-as-a-service model, Rivigo offers long-haul intercity service.

Ruchi Kalra and OfBusiness

Founded in 2015 by Asish Mohapatra, Ruchi Kalra, Vasant Sridhar, Bhuvan Sridhar, Bhuvan Gupta and Nitin Jain, OfBusiness is a digital platform that caters to small and medium-sized enterprises (SMEs) by offering a host of technology services to procure raw materials. The company currently holds a valuation of around $5 billion. It is backed by Alpha Wave Global, Tiger Global and Softbank Vision Fund 2.

Divya Gokulnath and Byju’s

Founded in 2011 by Byju Raveendran and Divya Gokulnath, Byju’s is the largest ed-tech platform with a valuation of $21 billion. It is the 13th most valuable startup in the world, according to data from CB Insights. Over the years, the company has acquired several educational technology companies, the latest being Aakaash Institutes.

Rajoshi Ghosh and Hasura

Founded in 2018 by Rajoshi Ghosh and Tanmai Gopal, Hasura is the 10th startup to enter the unicorn club in 2022. In February, the company raised $100 million at a $1 billion valuation. The company provides an open source platform to accelerate web application development.

Smita Deorah and Lead School

Founded by Sumeet Mehta and Smita Deorah in 2012, LEAD became the third unicorn of 2022. The company, after its $100 million Series E funding, is valued at $1.1 billion. The company, which serves 5,000 schools in more than 500 cities in India, provides comprehensive and innovative school ed-tech solutions.

Ankiti Bose and Zilingo

Founded in 2014 by Ankiti Bose and Dhruv Kapoor Zilingo is a Singapore-based fashion retail brand with a valuation of $970 million as of 2021. The company plans to raise $150 million to $200 million for a valuation of $1 billion, according to reports. The company, backed by Sequoia Capital and Temasek, became a unicorn in 2019.