India’s First Proptech Firm becomes Unicorn
I recently posted two photos on my Instagram account. You can see the pictures with the content “73” and “74”.
So, on my Instagram page, I asked my followers to tell me the meaning of the number 73. I gave them a hint and the hint was a ‘unicorn’ emoji. It obviously meant 73 startups in India who achieved the Unicorn status which I later told people about it. It was a big coincidence that the day I shared the number of unicorn startups, the number turned 74. Thanks to NOBROKER, the number got changed pretty quickly. Shows how quickly the startup ecosystem is growing and expanding. It has been around 1 or 2 weeks when Mensa Brands turned unicorn in just 6 months and the news went like crazy. And just now, NoBroker has joined the list being the 74th startup to become the first property tech(proptech) unicorn.
Journey from Making a House for Itself to Finding it for Others
NoBroker was founded in 2013 by IIT and IIM graduates — Akhil Gupta, Amit Agarwal and Saurabh Garg. Amit Kumar Agarwal is currently Founder and CEO at NoBroker. NoBroker helps individuals hoping to purchase or rent a loft and be away from brokers, along these lines staying away from financier charges. The startup works in a few significant Indian urban areas, including Bangalore, Delhi, Pune and Hyderabad.
NoBroker has raised $426.1M in 12 funding rounds. In their first Series A funding round in 2015, it raised $3M through their 2 investors Fulcrum Venture India and SAIF Partners. Since then, 11 more rounds were conducted with the latest Series E funding round conducted on November 23rd, 2021 through which the company raised $210 million. The funding round was led by General Atlantic, Tiger Global Management and Moore Strategic Ventures. NoBroker has 15 investors and General Atlantic and Moore Strategic Ventures are recent investors of NoBroker.
Throughout the long term, NoBroker has extended to a few extra classifications, including monetary administrations (to offer clients assist with getting the lease, for example), and home administrations like cleaning, satisfying furniture needs and movers and packers. These administrations are additionally autonomously accessible to clients who have not leased or purchased a spot from NoBroker stage.
NoBroker presently likewise works an assistance, called NoBrokerhood, that is focused on networks to remain associated and oversee and monitor guests. NoBrokerhood, which additionally permits society occupants to purchase and sell things from one another, contends with a portion of the contributions of MyGate, which is likewise upheld by Tiger Global.
The Startup Ecosystem
NoBroker is 74th Indian startup to become unicorn. As per the latest updates, Spinny and Upstox too joined the list with Spinny being 75th and Upstox being 76th on the list. With Upstox joining the list, it has become 6th startup to become unicorn in this month. And talking about 2021, 39 Indian startups out of 76 became unicorn in this year. That’s more than 50 percent of it. For great minds and startup ideas, there’s a bright future ahead of them, awaiting. It is also estimated that in the year 2022, we will have more than 100 unicorn startups. With many funding rounds, companies are increasing their valuation through their investors especially Tiger Global who is the lead investor of many startups now. The startup ecosystem is growing and expanding at a very fast pace and the future of business is in the hands of some great entrepreneurs.
You too can be one of the great entrepreneurs of your time. All you need is…just one great idea. When you’ll have that confidence, you yourself will find no problems in executing that idea. Ananth Narayanan, Kunal Shah, Vineeta Singh etc. started with just an idea and look at where they are. Gain experience and knowledge. They can be the biggest assets you can have if you just use them wisely and practically. JUST ONE GREAT IDEA!
