OfBusiness would be the 18th startup to affix the Unicorn Membership in 2021

Good Morning,

Seven months after 2021, 18 startups in India joined the Unicorn Club.

The most recent is Gurugram-based B2B startup OfBusiness, which raised a $ 160 million round led by SoftBank’s Vision Fund 2. Existing investors Falcon Edge Capital and Matrix Partners also took part in the round.

The funding nearly doubled the startup’s valuation from $ 800 million to $ 1.5 billion, making it the 18th unicorn to join the coveted $ 1 billion rating club this year.

This year the Indian startup ecosystem raised record funding. In the first six months, total funding raised by Indian startups was $ 10.15 billion, exceeding the $ 9.94 billion raised throughout 2020. These were raised through 543 deals from around 1,020 active investors in the ecosystem.

You can download YourStory Research’s report on Financing Trends in the Indian Startup Ecosystem in the First Half of 2021 for more insights.

The interview

Jumbotail is a leading B2B marketplace and new retail platform that strengthens India’s kirana businesses.

Karthik Venkateswaran, Co-Founder and CEO, Jumbotail and Ashish Jhina – COO and Co-Founder, Jumbotail talks about how to best use capital to empower kirana stories.

Editor’s tip: The way to the start of Protonn

Anil Goteti, a senior executive at Flipkart, and Mausam Bhatt wanted to do something that would work for millions of users. Dedicated to fintech and looking for ideas that can help people communicate better, the duo founded Protonn.

The Business-in-a-Box platform is aimed at individual professionals who offer services such as video marketing, scheduling, payments and CRM, among other things. Continue reading.

Startup Spotlight

Manufacture of differentiated beauty products

Garima Juneja observed that most beauty blenders absorb the foundation instead of blending it into the skin. So in 2019 she founded the D2C beauty product startup Plume Beauty with an initial investment of Rs 1 lakh.

Plume claims to have gross sales of Rs 96 lakh in FY21 and the company estimates it will have sales of Rs 5 crore in FY22. Continue reading.

Image credit: YourStory Design

News update

Before you go, stay inspired with …

“The time of disruption in B2B trade in traditional branches of the economy was long overdue and has come.”

– Asish Mohapatra, CEO and Co-Founder of OfBusiness

Get the Daily Capsule in your inbox now. Subscribe to our newsletter today!

Comments are closed.