1. Ashneer Grover, former CEO of BharatPe, raised $4 million in seed funding for his new venture, Third Unicorn Pvt Ltd.
2. The funding round was led by ZNL Growth Fund and included over two dozen angel investors.
3. Third Unicorn is launching a cricket fantasy gaming platform called Crickpe.
4. Grover is only accepting investment from India-based investors and promised to give Mercedes to employees who complete five years in Third Unicorn.
5. Grover has an impressive background, having worked in investment banking at Kotak Mahindra and led startup investments for American Express in India.
6. He has also been associated with Grofers and BharatPe.

#shorts #short #shortvideo #shortsvideo

In this detailed video, we take a look at and compare the startup ecosystems of India and China.

In the last decade or so, China, which many people still call the world’s factory, has actually slowly weaned its economy off of manufacturing, and diversified into tech, with BATs leading the charge, that’s Baidu, Alibaba, and Tencent.

In 2021, Chinese startups raised a whopping 130.6 billion dollars in venture capital which is three times more than the 42 billion dollars that Indian startups raised during that same year.

India, which is the third-largest startup ecosystem in the world, raised 42 billion dollars in 2021, which was the best year on record for Indian venture funding, was more than 15 billion dollars less than what Chinese startups raised all the way back in 2015.

Talking about valuations of single startups, India today has four decacorns – that’s companies that have a valuation of more than 10 billion dollars, and these companies are Flipkart, Byju’s, Swiggy, and Nykaa and if we take all four of these companies and combine their valuations, they’re actually still less valuable than China’s single-most valuable hectacorn, Bytedance, which is known for its flagship short video-sharing app TikTok, and is currently valued at a whopping 300 billion US dollars.

Talking about investor’s trust in the ecosystem, India has a much more open ecosystem when compared to China. Flipkart is owned by Walmart, but ByteDance’s ownership isn’t clear. Yes, they have raised upwards of 9 billion dollars from investors, local and international, but how much control do those investors actually have over their China-based portfolio companies? It’s hard to imagine international stakeholders voting against the desires and agenda of the CCP.

Taling about protecting their local businesses, both India and China are pretty ahead on that. India for eg, has banned Chinese companies like TikTok and Shein. Thanks to protectionism, startups like Moj, MX taka tak, Chingari, and Josh have been able to thrive. China also banned merican companies like Facebook, Google, and Dropbox. Other American companies like Tesla, Apple, Starbucks, and Nike have a strong presence in China, but are also very careful to play by the CCP’s rules.

India however, is ahead of China when it comes to growth in minting unicorns. The rate of growth among unicorns in India, 36% growth from 2019 to 2020 and over 100% growth in 2021 and if you take a look at China’s growth, 8% growth in 2020 and just 14% growth in the year 2021, India is clearly ahead. AAnd according to Inc42’s ‘The State of Indian Startup Ecosystem Report’ India will beat China to become number two in terms of total unicorns by the year 2025.

When we talk about which sectors are dominant in both countries, most valued startups in India come from Ecommerce, followed by Fintech and SaaS. For China, the leading sectors are Finance, Internet and Logistics.

In terms of where this startups are coming from, In India, most of the companies with a valuation upwards of a billion dollars are located in Bengaluru followed by Delhi NCR and Mumbai. On the other hand, startups in China are located along the east coast, such as in Beijing, Shanghai, and Shenzhen.

Beijing is known for its booming artificial intelligence, big data, and fintech startups and about 70% of the country’s potential unicorns are located here. Standing up to Beijing is Bengaluru which has a mix of sectors, ranging from e-commerce to fintech to agritech and EVs.

In the last few years however, focus is shifting from China to India, when it comes to growth. Last year the Chinese Communist Party started a massive crackdown on tech giants, education, and entertainment firms in order to pursue the ideology of “common prosperity”- which seeks to narrow the stubborn wealth gap between the rich and the poor.

These crackdowns by the government have already wiped out $1.5 trillion US dollars in market value last year and have left investors from around the world terrified of losing their multi-million dollar investments.

India on the other hand is slowly replacing China as the preferred destination of investment for these western firms. China plus one strategy – where world is looking for another place for manufacturing is also set to help India massively in coming years.

India is being viewed as next growth engine for the world’s economy and Indian government is also playing a key role in all of this. It’s efforts towards easing regulations, providing good infrastructure, and promoting entrepreneurship across the country through programs like Aatmanirbhar Bharat, Gatishkati, and Startup India are starting to show results.

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In today’s video, we will look at top 10 most profitable Indian startups.

00:00 Introduction
00:53 #10 Wakefit
01:58 #9 Lenskart
02:52 #8 Cashfree
03:56 #7 BrowserStack
05:15 #6 Aye Finance
06:21 #5 Lendingkart
06:56 #4 OfBusiness
08:19 #3 CarTrade
09:12 #2 Boat Lifestyle
10:30 Honorable Mentions
12:46 Zerodha

#10 Wakefit: Founded by Chaitanya Ramalingegowda and Ankit Garg in 2015, Wakefit started selling mattresses online and were already making a profit within six months of operations. Today, this D2C mattress startup is selling 1,500 mattresses to their 500,000 customers every day – raking in a revenue of $26.5 million and making a profit of $1.3 million in FY20.

#9 Lenskart: Founded by Peyush Bansal in 2010, Lenskart offers an omnichannel platform for selling eyewear and lenses through their online platform and offline stores. The company has been investing heavily in setting up new physical stores – taking the number of offline stores to over 750. This is why the startup took a decade to reach profitability. In FY20, Lenskart made a revenue of $130 million with a profit of $2.4 million.

#8 Cashfree: Cashfree is a digital payments gateway platform that offers more than 100 payment methods to over 50,000 businesses around the world with a team of just 130 employees. Their ability to stay lean has not only enabled them to scale but also remain profitable from the get-go. Their profit increased 14X from just $190,000 in FY18 to $2.6 million in FY20.

#7 BrowserStack: India’s most valuable SaaS startup BrowserStack enables developers to test their apps remotely using their cross-browser testing platform that has more than 2,000 devices and is being used by over 50,000 businesses across the world. The company has been profitable since day one and they did that by never spending a single penny on marketing and investing all their earnings back into the company to build better products for their customers. In FY20, BrowserStack raked in a profit of $3.8 million.

#6 Aye Finance: SME lending startup Aye Finance has been profitable for the last three consecutive years and has disbursed loans worth more than $538 million to more than 200,000 small businesses. Aye Finance’s profits have increased to $5.3 million in FY20.

#5 Lendingkart: Founded in 2014, Lendingkart has disbursed loans worth $741 million to more than 100,000 small businesses. This fintech startup first achieved profitability in FY19 and their profits stand at $5.6 million in FY20.

#4 OfBusiness: B2B e-commerce and lending startup OfBusiness uses purchase financing – providing businesses with a loan that they can use to purchase raw materials from their e-commerce platform. The company saw huge losses at the beginning as the profits from interests hadn’t come in yet. But once those profits starting coming in, OfBusiness started making money and they are now on their way to becoming a unicorn. Their profits jumped 73X from just $150,000 in FY18 to a healthy $80 million in FY20.

#3 CarTrade: Founded in 2009, CarTrade is the only profitable online used car marketplace. This decade-old startup has already filed for an IPO and is expected to hit the stock markets soon. The company significantly decreased its losses from $20 million in FY16 to just $2 million in FY17. They first turned profitable in FY18 and they did this through internal restructuring, key acquisitions and cost-cutting measures. Today (FY20), they are making a healthy profit of $11.5 million.

#2 Boat Lifestyle: Indian consumer technology startup Boat started in 2016 by selling charging cables and were able to hit profitability within the first year as the market was flooded with Chinese smartphones. Next, the company started launching more products like earphones, headphones and smartwatches with quality and affordability in mind to target value-minded Indian consumers. This strategy only accelerated their growth. Boat’s profit’s increased by 30X from just $225,000 to $6.6 million in FY20.

#1 Zerodha: India’s largest stockbroking platform started in 2010 with the goal of making investing in stocks painless and simple. Zerodha has managed to change the entire stock trading industry single-handedly and they did it without even raising any external funding or marketing their product. Today, Zerodha charges just Rs 20 (or 0.03% as commission – whichever is lower) from their customer for every intraday trade. Thanks to that, Zerodha earned a solid $135 million in profits in FY21.

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