India’s first bootstrapped unicorn, Zerodha is set to give its director and founders salaries of Rs 100 cr. The startup will pay annual salaries of Rs 100 cr each to founders Nithin, Nikhil Kamath, whole-time director Seema Patil who is also the wife of Nitin. The Kamath family has become the highly paid executives in India. Zerodha manages 15% of all the trading in India and made a profit of Rs 440 cr in FY20, while the revenue grew by 15% to Rs 1093 cr.
Moglix became the 13th start-up from India to get unicorn status in 2021. In a $120 mn fundraiser, six-year-old Moglix has been valued at $1bn. Moglix, founded by IIT Kanpur and ISB alumnus Rahul Garg, caters to 500,000 SMEes. It has 3000+ manufacturing plants across India, UAE, Singapore, and the UK. With a network of 16,000+ suppliers and 35+ warehouses and 500,000+ SKUs, it claims to be the largest e-com platform of industrial goods in India.
Indian food tech startup Zomato has filed for an IPO to raise $1.1 bn. It has become the first Unicorn to file for an IPO in the country which is also the second-largest internet market across the globe. Zomato is a 12-year-old Gurgaon-based startup and has Info Edge and Ant Group among its investors. It clocked $183.6 mn in revenue between April 1 and Dec 31 2020 and made losses of $91.8 mn during the period. The startup employs 3,469 people across the globe.
Healthcare tech startup Innovaccer has raised $105 mn at a valuation of $1.3bn, in a round led by Tiger Global Management. Steadview Capital, Dragoneer, B Capital Group, Mubadala Capital and Microsoft’s venture fund arm M12 were also part of the round. The company has raised $225 mn so far. Innovaccer’s SaaS platform provides unified patient records, connect healthcare data across multiple systems and settings.
Razorpay to increase its existing 1300 members team by nearly 50% in the next 10 months. Of the 650 new positions, 350 will be hired in engineering and product teams and remaining will be added to customer experience, sales and marketing departments. The fintech unicorn, last year, has 550 people. Razor has also created cross-functional growth opportunities for people, who will be WFH for the next few months, as well.