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APNA: YOUNGEST STARTUP TO ENTER UNICORN CLUB

by admin

Date & Time: Sep 17, 2021 7:26 AM

Read Time: 1 minute


A digital hiring platform for blue and grey-collar employees, ‘Apna’ becomes the fastest Indian company to reach the coveted unicorn club. Apna has achieved this title within a span of 21 months. The firm announced a fresh $100 million funding round headed by current investor Tiger Global. Previously, Udaan, a B2B commerce firm, was the fastest domestic startup to achieve unicorn status.

Success story of ‘Apna’

Nirmit Parikh (the Founder & CEO, Apna ) said – ‘Apna communities have allowed users to expand their professional networks and to develop their skills through peer learning. Apna’s communities enabled 17 million peer-to-peer professional conversations in the past month’.
Apna has raised $100 million in a Series C round of financing. It has about 16 million users and 150,000 employers. An average of 18 million job interviews is conducted on the app each month.

What are Blue and Grey collar jobs?

Blue-collar professions generally include manual work and hourly wages pay. Construction, manufacturing, maintenance and mining are covered in this category. While the employees of grey-collar have a particular skill set and are in need of greater expertise than their peers of blue-collar.

What is unicorn club?

In the venture capital sector, a unicorn is any startup with a valuation of $1 billion or more. Aileen Lee, a venture capitalist, coined the term in 2013. It was done to characterize the rare digital firms valued at more than $1 billion. Startups with valuations more than $10 billion are referred to as decacorns (a super unicorn).

Some of the Indian companies that entered the unicorn club are- BharatPe, Mindtickle, upGrad, Blackbuck, Droom, ShareChat, PharmEasy, CRED, Meesho, Urban Company, Infra Market, Digit Insurance, Innovaccer, Paytm, OYO Rooms, BYJU'S, OLA Cabs, Swiggy, Zomato, Paytm Mall, BigBasket, Udaan, Ola Electric, FirstCry, Lenskart, phonepay etc.

With its exemplary endeavor, Indian startups are capable enough to set foot across the globe.



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