India's 1st Unicorn in 2024

https://www.moneycontrol.com/news/technology/bhavish-aggarwals-ai-startup-krutrim-turns-unicorn-after-raising-50-million-12129991.html

I mean how does this guy do it? He literally has half baked products that are just a copy of products innovated outside India. All the horseshit talk these founders do about innovation.

So Zepto was the first, InCred becomes the second one. 2 unicorns this entire year 🙀

I had heard Waycool was also talking to raise at unicorn valuation, but they've fired like 300 people on Monday, so that's pretty uncertain. What to make of Zepto, though?

- Raise Financial Services, the parent company of trading app Dhan, is in early discussions to raise $100 million, potentially boosting its valuation to $1.5 billion and entering the unicorn club. - Investment banking firm Avendus has been shortlisted to manage the fundraising, with new and existing investors expected to participate. - The fresh funds will be used for business expansion, including new services like financing, payments, and insurance, to compete with rivals such as Groww, Zerodha, and Upstox. - Dhan's founder, Pravin Jadhav, previously led Paytm Money but left on contentious terms; he has since taken jabs at his former employer on social media. - Despite a competitive market, Dhan has seen significant growth, with a 330% year-over-year increase in its active client base, while competitors like Paytm Money have struggled. Source: Moneycontrol