All articles tagged with #unicorn
UK-based fintech Tide, serving over 1.6 million micro and small enterprises globally with a significant presence in India, has become a unicorn with a $120 million funding round led by TPG, valuing it at $1.5 billion. The company offers tailored financial and administrative services to small businesses and plans to expand further geographically and enhance its product offerings, including AI capabilities.
Former ad man Mike Cessario birthed the $1.4 billion beverage unicorn, Liquid Death, by creating a hardcore brand selling water in a can, leveraging self-aware, photogenic marketing to attract Gen Z consumers and utilizing irreverent, punk-inspired branding. The company's success is attributed to its unique, shareable product design, irreverent online presence, and rapid revenue growth, leading to a recent $67 million funding round and a valuation doubling since 2022. With a following of almost 8 million on Instagram and TikTok, Liquid Death continues to expand its product line with agave-sweetened seltzers, iced tea, and electrolyte powders, maintaining its humorous and irreverent brand identity.
Indonesian entrepreneur Gibran Huzaifah has turned his aquaculture startup, eFishery, into a rare unicorn with a valuation of over $1 billion. Huzaifah's company provides fish breeders with an Internet of Things device that automates fish feeding and reduces costs. eFishery has expanded to work with around 300,000 fishponds and is now an end-to-end aquaculture value-chain company, offering financing and offtake services in addition to the feeding tool. The company aims to reach 1 million ponds by 2025 and expand internationally, with pilot projects already underway in Bangladesh, Thailand, and Vietnam. Huzaifah also plans to take eFishery public in the U.S.
Indian instant grocery delivery startup Zepto has raised $200 million in a Series E funding round led by StepStone Group, valuing the company at $1.4 billion. This makes Zepto the first Indian unicorn of 2023. While many other instant delivery startups have struggled or shut down, Zepto has thrived due to its focus on execution and supply chain management. The company processes over 300,000 orders a day and aims to be IPO-ready within 12 to 15 months. Zepto plans to go public by 2025 and is targeting $1 billion in annualized sales in the near future.
Character.AI, a 16-month-old chatbot startup founded by two former Google employees, has raised $150 million in a funding round led by Andreessen Horowitz, valuing the company at $1 billion. The Silicon Valley-based company has yet to generate any revenue.