OfBusiness was the only female-led startup to enter the unicorn club this year



  • More than 27 startups have been valued at over $ 1 billion this year, however, only one of them was led by women.
  • Of the 136 unicorn startup founders in India, five of them are women.
  • Mamaearth, Mobikwik and Acko General Insurance are expected to be valued at over $ 1 billion over the next four years.

He has been raising unicorns since the start of this year. So far 27 startups – from various segments such as online pharmacy, social commerce, infrastructure-based market, etc. – were valued at over $ 1 billion this year and entered the unicorn club.

However, only one of them is actually run by women. OfBusiness, which provides a raw material sourcing service and credit to small and medium-sized enterprises (SMEs), was founded by Ruchi Kalra, Vasant Sridhar, Bhuvan Gupta and Nitin Jain over six years ago.

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The company became a unicorn in July, after the $ 160 million round of funding led by SoftBank Vision Fund II that valued the company at $ 1.5 billion. The business-to-business (B2B) e-commerce startup includes Falcon Edge Capital, Alpha Wave Incubation and Matrix Partners India, among others.

BI India

“We can think of it as a glass half empty or a glass half full. There are now more women entrepreneurs in the start-up industry than ever before. When I started as a tech entrepreneur in 2009, you could count on one hand. Now there are founders – Phalguni Nayar from Nykaa and Upasana Taku from Mobikwik who are leading the IPO of their companies with many applicants. The reason women reach the goal at the same rate as men is because they started a little later, ”Anisha Singh, founding partner of She Capital, told Business Insider India. Singh previously led coupon provider MyDala and content marketing solutions Kinis Software. Solutions.

She noted that there are several reasons why women have fallen behind in the Indian startup scene. One of those reasons is that there weren’t enough female role models to prove that women were capable of starting and growing a business, which prompted investors to invest in businesses run by women. The emergence of strong companies like Bumble or Nykaa has led investors to believe more in startups run by women, Singh added.

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“Just look at the VC firms’ investments in female startups versus male founders… Maximum number of VCs are male. Age-old beliefs somehow dictate the funding of the tech industry. Men invest in men, for business. Women entrepreneurs have to overcome the scenario ”, Rachitta Juneja, Founder, WHide.

More women-led businesses to enter the unicorn club over the next four years

2021 has been a banner year for Indian startups so far – with new age companies hitting the public market, closing the biggest funding deals and growing companies valued at over a billion dollars.

According to a business intelligence firm Tracxn, Indian startups raised $ 23 billion in 2021 through September 1. This is significantly more than the $ 13 billion raised by the ecosystem in 2020. Massive investor interest has brought the number of Indian unicorns to 56.

The new estimates show that 150 startups will be valued at over $ 1 billion over the next four years, by 2025. Of that total, the Hurun India report estimates that the following female-led startups will be on the list .

Start Women entrepreneurs Chronology
Zilingo Ankiti Bose By 2023
Mamaterre Ghazal Alagh By 2023
MobiKwik Upasana Taku By 2023
Pristyn care Dr Garima Sawhney By 2023
Ecom Express Manju dhawan By 2023
Acko General Insurance Ruchi Deepak By 2023
Qure AI Pooja rao N / A
WinZo Saumya Singh Rathore By 2025
MyGlamm Priyanka Gill By 2025
square yards Kanika gupta By 2025
Bankbazar Rati Shetty By 2025
Pratilipi Sahradayi Modi By 2025
SirionLabs Kanti Prabha By 2025
Zivame Richa kar By 2025

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