Today's Unicorn🦄Startups
Which Startups are becoming the India's Top Companies?
Together With
Good Morning: It’s the time to announce the name of Today’s Champion.
Yash Bhanushali (for the correct answer for Wednesday’s Question)
Today’s Quote: Keep your feet on the ground, but let your heart soar as high as it will. Refuse to be average or to surrender to the chill of your spiritual environment. — Arthur Helps
What’s inside?
Vendantu become the Unicorn🦄 Startup
Byju’s is richer than Jhunjhunwala 💰
Upskilling platform Cusmat raises $100K
FinTech Startup CredAvenue Raises $90M
Richest Under 30
Vendantu become the Unicorn🦄 Startup
Vedantu become the India’s newest startup unicorn after raising $100 million.
Its valuation increased to $1 billion from $600 million last year. The startup basically offers individual and group classes across K-12 and test preparation segments.
Vedantu co-founder Vamsi Krishna denied any discussion with Byju’s for no. “We have been capital efficient and our annualised revenue run rate is at around $65 million — up almost 3x from last year”, said Krishna.
Byju’s is richer than Jhunjhunwala 💰
Byju’s Raveendran & family’s wealth is now Rs 24,300 crore, according to the IIFL Wealth Hurun India Rich List 2021. This makes them the 67th richest Indian.
On the other side, Zoho’s Radha Vembu’s wealth reached at Rs 23,100 crore, Rakesh Jhunjhunwala & family at Rs 22,300 crore according to the list.
Byju’s is valued at $16.5 billion now.
Upskilling platform Cusmat raises $100K
![Funding alert] Upskilling platform Cusmat raises $100K in pre-Series A led by We Founder Circle](https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F1b6ca9a3-9170-41c2-9fa7-a7a39c3be02b_800x400.png "Funding alert] Upskilling platform Cusmat raises $100K in pre-Series A led by We Founder Circle")
This startup can upgrade👍 your skills.
Cusmat, founded by Abhinav Ayan and Anirban Jyoti Chakravorty helps organizations to onboard, assess, train, upskill, plan learning tracks for the employees to retention rates and on the job performance by using AR/VR (Augmented Reality/Virtual Reality).
The startup raised $100K in pre Series A round led by We Founder Circle.
“Cusmat is a new-age immersive reality training tool, which has the potential to unleash finest trend in the upskilling industry. Given the fact that in the post pandemic era, around 18 million Indians might need to switch occupations by 2030, the market holds a huge scope”, said Co-founder and CEO Neeraj Tyagi.
FinTech Startup CredAvenue Raises $90M
FinTech startup CredAvenue is now valued at about $410 million.
A Debt platform CredAvenue raised $90 million by Sequoia Capital and others.
Over the next few months, it is planning to invest heavily inmachine learning and artificial intelligence to improve its product offerings.
“The funds raised will be largely used towards developing the technology platform, the data platform and building a network of clients and investors,” says Gaurav Kumar, the founder and CEO of CredAvenue.
Richest Under 30
Thirteen people born in 90s are listed as richest according to Hurun India Rich List 2021.
New Delhi-based Shashvat Nakrani, 23, of payment app BharatPe is the youngest self-made individual. This year’s list has some additions including 46 founders of 26 unicorns. The list has 1,007 individuals, up 179, across 119 cities, up 5, having Rs 1,000 crore on the IIFL Wealth Hurun India Rich List 2021.