First Indian Ai startup to became Unicorn 🦄

Krutrim has become a unicorn after securing $50m in funding, making it the first Indian AI startup with a valuation of $1bn. It seems like an extremely overvalued company being built yet again. Thoughts?

I will go first: Supam Maheswari, 3 unicorns, 2 of them are profitable (FirstCry, Xpressbees) (Globalbees) Kishore Biyani, founder BigBazaar

- Sarvam AI - $41M (Lightspeed and Peak XV) - Mad Street Den - $67M (Avatar, Peak XV) - Wysa - $25M - Neysa Networks - $20M (Matrix Partners) - Scribble Data - $2.3M (Blume Ventures) - Expertia AI - $1.3M (Chiratae Ventures) - OnFinance - $ 1.1M (Silverneedle Ventures) - Krutrom AI - $50M (Matrix Partners)

- The rise in market cap of companies like Zomato, Policybazaar, and MamaEarth has paved a promising path for Indian startups aiming to go public. - Zomato co-founder Deepinder Goyal recently joined the billionaire club as his company's market cap crossed Rs 2,00,000 crore ($24 billion). - Nykaa’s Falguni Nayar and her family hold over 50% of the company, with a collective worth of over $3.25 billion. - Veteran entrepreneur Sanjeev Bikhchandani's shares via Info Edge are valued at $3.24 billion, making him a significant player. - Despite challenges, founders like Paytm’s Vijay Shekhar Sharma and PolicyBazaar’s Alok Bansal continue to hold substantial stock values, highlighting the lucrative potential of Indian startups. Source: Entrackr - tinyurl.com/2do9kuy3

After krutrim, perfios, Porter is the 3rd startup which has turned unicorn 🦄 It has solved some problem for sure unlike krutrim I remember, when I moved to blr...it was a life saviour. Such startups deserve to be an unicorn 🦄

Budget 2024 scrapped the angel tax for all investors, creating the ultimate playground for innovation and entrepreneurship in India.