The home services firm Urban Company has been valued at $2 billion after it rose $190-million through Prosus Ventures. Being backed by Ratan Tata and Kalyan Krishnamurthy, Urban Company is the twelfth Indian start-up to join the unicorn club of 2021.
The Fintech Startup CRED’s valuation slingshots nearly 3X to $2.2 billion in just 3 months but the startup posted a loss of Rs 360 cr on a mere revenue of Rs 52 lakh in FY 2020, sparking a debate on hazy business models.
Indian startups have forwarded the legacy of corporate romance with cricket. It is almost a given that if a startup crosses the billion-dollar threshold and becomes a unicorn, it will be endorsing Indian cricket if it hasn’t already. From the title sponsorship to IPL, Test Matches and ODI series, much of BCCI’s engine is run by such heavily-funded companies that boast dynamic stories of rapid growth.
Indian startups have witnessed a surge in investor confidence as of late, but the ecosystem has a long way to go before it catches up with the likes of China and US The year 2018 saw a flurry of deal…