Hurun Unicorn Report 2025 names India’s most-funded startups: Check the top 10
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India’s Startup Surge: India’s startup ecosystem is expanding rapidly, attracting global investors and creating new industry leaders. According to the ASK Private Wealth Hurun India Unicorn and Future Unicorn Report 2025, the ten most-funded future unicorns, drawn from the Gazelles and Cheetahs list, have collectively raised billions of dollars.
2 / 11Founded in 2010, Hyderabad-based Fourth Partner Energy has raised $564 million, making it the most-funded future unicorn. Led by co-founders Vivek Subramanian and Saif Dhorajiwala, the renewable energy firm focuses on distributed solar solutions. Backed by Norfund, TPG, and Investec, it has built a strong foothold in India’s clean energy market while expanding internationally through acquisitions and large-scale corporate partnerships.
3 / 11Founded in 2011, GreyOrange has raised $545 million. Headquartered in Gurugram, it develops AI-driven warehouse automation and robotics systems. Co-founded by Samay Kohli and Akash Gupta, the company is backed by Blume Ventures, Tiger Global, and BlackRock. Its robotics platforms serve global clients in logistics and retail, strengthening India’s presence in the automation technology space.
4 / 11Drip Capital, founded in 2016, has secured $528 million in funding. Based in Mumbai, the trade finance startup provides working capital to small exporters. The company was co-founded by Pushkar Mukewar and has received backing from Accel, Peak XV Partners, and Y Combinator. By digitising export finance, Drip Capital addresses global trade challenges, positioning itself as a fintech leader in cross-border commerce.
5 / 11Founded in 2016, StashFin has raised $430 million. Headquartered in Gurugram, the digital lending startup offers personal loans and financial services. Led by founder Tushar Aggarwal, the company counts Alto Partners, Snow Leopard Ventures, and Altara Ventures among its marquee investors. With rapid adoption, StashFin is shaping consumer lending in India’s fintech landscape and has posted revenue growth of 270%.
6 / 11Ninjacart, founded in 2015 in Bengaluru, has raised $400 million. The agri-supply chain startup was co-founded by Thirukumaran Nagarajan and partners to connect farmers directly with retailers. Backed by Accel, Tiger Global, and Walmart, Ninjacart streamlines the distribution of perishable goods. The company supports India’s agricultural ecosystem while reducing inefficiencies and food wastage, making it one of the leading AgriTech ventures.
7 / 11Founded in 2016, Gurugram-based InsuranceDekho has raised $398 million. Co-founded by Ankit Agrawal, the insurtech platform simplifies policy distribution for customers and small businesses. Backed by TVS Capital, Avataar Venture Partners, and GirnarSoft, the company has emerged as one of India’s most funded insurance tech startups. Its digital-first approach has strengthened accessibility to life, health, and motor insurance products across India.
8 / 11KreditBee, established in 2018 and based in Bengaluru, has secured $360 million. Co-founded by Madhusudan Ekambaram, the fintech startup focuses on instant personal loans and credit solutions for young professionals. It is supported by marquee investors including Premji Invest, Alpine Capital, and Arkam Ventures. KreditBee has emerged as one of India’s fastest-scaling lending platforms, responding to growing demand for consumer finance.
9 / 11Founded in 2019, Leap has raised $318 million. Headquartered in Bengaluru, the startup enables students to pursue higher education abroad through counselling and financing. Co-founded by Arnav Kumar and Vaibhav Singh, Leap is backed by Jungle Ventures, Owl Ventures, and Peak XV Partners. Its platform covers test preparation, admissions, and student loans, reflecting India’s growing demand for global education pathways.
10 / 11Pepperfry, launched in 2012 in Mumbai, has raised $286 million. Founded by Ambareesh Murty (deceased 2023) and Ashish Shah, the online furniture retailer is backed by Norwest Venture Partners and Stride Ventures. The company pioneered India’s digital-first home furniture and décor retail, supporting both online and offline sales. It continues to expand in India’s growing consumer goods and lifestyle market.
11 / 11Two startups tie for tenth place with $270 million each. Mumbai-based Mintifi (founded in 2017 by Anup Agarwal) is a fintech platform for supply chain financing, backed by Elevation Capital, Premji Invest, and Prosus. Bengaluru-based Whatfix (founded in 2013 by Khadim Batti and Vara Kumar) is a SaaS firm delivering digital adoption solutions, backed by Helion Venture Partners, Eight Roads Ventures, and Peak XV Partners.
Source: www.cnbctv18.com