OfBusiness becomes 18th startup to enter unicorn club in 2021

Gurugram-based B2B startup OfBusiness raised a $160 million round led by SoftBank's Vision Fund 2.

Sunday August 01, 2021 , 3 min Read

Good morning,

Seven months into 2021, India has had 18 startups enter the unicorn club.

The latest is Gurugram-based B2B startup OfBusiness, which raised a $160 million round led by SoftBank's Vision Fund 2. Existing investors Falcon Edge Capital and Matrix Partners also participated in the round.

The funding almost doubled the startup's valuation from $800 million to $1.5 billion, making it the 18th unicorn to enter the coveted $1 billion valuation club this year.

This year, the Indian startup ecosystem has raised record funding. In the first six months, total funding raised by Indian startups touched $10.15 billion, already exceeding the $9.94 billion raised in the whole of 2020. This was raised across 543 deals from around 1,020 active investors in the ecosystem.

You can download YourStory Research's report on funding trends in the Indian startup ecosystem in H1 2021 for more insights.

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