Financial Investors Group
India's next billion dollar Startups 2021
14 May 2021

The Indian startup ecosystem has grown by leaps and bounds in the last four years with nearly 45 unicorns as of May 20, 2021. 

While sectors like E-Commerce have become mature and seen a lot of growth, industries like FinTech, SaaS, EdTech, and HealthTech have been in prominence recently.

With India’s Startup ecosystem brimming with one Unicorn a-day energy, our team has been closely tracking the developments to come up with the soon-to-be Unicorns a.k.a Soonicorns across the technology sector in India. Soonicorn are startups that are closer to reach a valuation of US$ 1 billion. 

The second edition of India’s Soonicorns list prepared by PGA Labs has shortlisted 35 Startups from sectors including FinTech, HealthTech, SaaS, online logistics, digital gaming, E-Grocery, and FoodTech.

Let's have a look at the 35 next billion-dollar startups.

S.NoCompanyFunding (US$ M)CityFounded yearCompany stageValuation (US$ M)Vertical
11mg158Gurgaon2015Series D213HealthTech
2Acko209Mumbai2016Series D383FinTech
3AGS Transact Technologies82.9Mumbai2002Series C250FinTech
4BankBazaar117Chennai2008Series D264FinTech
5BharatPe247Bangalore2018Series D885FinTech
6BrowserStack50Mumbai2011Series A500SaaS
7Capital Float154Bangalore2013Series C350FinTech
8cure.fit399Bangalore2016Series D775HealthTech
9Dunzo160Bangalore2014Series E267Online logistics
10Ecom Express237Delhi2012Series C500Online logistics
11Eruditus161Mumbai2010Series D850EdTech
12Fresh to home169Bangalore2012Series C295E-Grocery
13GreyOrange200Gurgaon2011Series C700SaaS
14Grofers548Gurgaon2013Series F675E-Grocery
15Indegene220Bangalore1998Funding Raised700HealthTech
16Khata Book87Bangalore2018Series B275FinTech
17Krazybee94.8Bangalore2015Series C200FinTech
18Lendingkart231Ahmedabad2014Series D273FinTech
19Licious94.5Bangalore2015Series E300E-Grocery
20MobiKwik215Gurgaon2009Series E366FinTech
21MPL236Bangalore2018Series D450Digital gaming
22Mswipe105Mumbai2011Series E439FinTech
23Navi402Bangalore2018Series C524FinTech
24Ninjacart204Bangalore2015Series C494E-Grocery
25OfBusiness90.2Gurgaon2015Series D440FinTech
26Open36.3Bangalore2017Series E552Fintech
27Practo232Bangalore2008Series D904HealthTech
28Rebel Foods295Mumbai2011Series E799FoodTech
29RummyCircle (Games24x7)5Mumbai2006Series A290Digital gaming
30Rupeek76.6Bangalore2015Series C303FinTech
31Shadowfax101Bangalore2015Series D205Online logistics
32Varsity61.6Hyderabad2011Series B225EdTech
33Vedantu206Bangalore2011Series D584EdTech
34Vivriti Capital107Chennai2017Series B236FinTech
35XpressBees176Pune2015Series E404Online logistics

Please note: The Soonicorns list contains startups above US$ 200 million valuations. 
The list was last updated in April 2021.

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