The turbulence caused by the Covid-19 pandemic hit a large number of businesses across sectors in 2020 but many technology companies marched forward, especially in segments that benefitted from stay-at-home restrictions.
In fact, the exclusive club of Indian unicorns—privately held technology companies with a valuation of at least $1 billion—expanded this year despite the pandemic.
At least eight companies achieved unicorn status this year, in segments ranging from ed-tech to fintech and software-as-a-service, after raising a large dose of capital from marquee private equity and venture capital investors.
These companies include ed-tech startup Unacademy, fintech firms Razorpay and Pine Labs, automobile marketplace Cars24 and SaaS startups Zenoti and Postman.
Dailyhunt and InMobi’s Glance also joined the club thanks to technology giant Google’s investments that would help them fill the void left in the short-video segment after the Indian government banned Chinese app TikTok.
Interestingly, no company on this list that disclosed the amount it had raised secured less than $100 million. To know more about the tech companies that turned into unicorns this year, watch the video.