Companies with a market valuation of more than $1 billion are termed unicorns. These start-ups are generally known for their disruptive innovation, upending their respective industries.
According to data from Crunchbase, these five market-leading companies are approaching unicorn status.
Nxtra Data Limited
With a $986 million valuation, Nxtra Data owns and operates the largest data center network in India. The company is backed by the Carlyle Group and is a subsidiary of Bharti Airtel, the second largest telecom provider in the country.
In terms of the largest internet-using population, India is ranked #2. The Southeast Asian country is one of the top outsourcing destinations globally and one of the fastest-growing internet consumers in the world. Given this backdrop, Nxtra will most likely become a unicorn soon.
The TDM Growth Partners-backed Canadian company is one of the most innovative platforms in the health-tech industry, with a $965 million valuation. It operates as a platform-as-a-service, serving healthcare providers, employers, payers and consultants.
Founded in 2014, League has charted a steep growth to become a unicorn, thanks to its personalized healthcare experience offerings.
This Singapore-based company made headlines recently after founder and CEO Ankriti Bose was ousted. The tech-based e-commerce platform connects suppliers from Southeast Asian countries to retailers and end-use customers, thereby ensuring competitive prices and fewer logistics disruptions.
While the company came under fire earlier this year after news regarding potential financial irregularities perpetrated by Bose broke out, Zilingo has been focusing on restructuring its board of directors and streamlining its operations. As of August 28, it ranks #4 on the emerging unicorn list compiled by Crunchbase, with a $951 million valuation.
With a $947 million market valuation, CarTrade is one of the largest online used-car marketplaces in India. The used-car market in India is expected to grow at a compound annual growth rate (CAGR) of more than 15% over the next five years, which would, in turn, benefit CarTrade. Given rising new car prices amid severe global supply chain disruptions, CarTrade’s second-hand automobile sales are expected to increase further in the upcoming months.
The Chinese online recycling firm is the last on this list. Given the increasing awareness regarding pollution and the rising need for recycling, the artificial intelligence-powered waste management platform is one of the fastest-growing companies worldwide. Backed by Zhongzhi Enterprise Group, Xiaohuanggou currently has a post-money valuation of $932 million and is poised to cross the $1 billion mark soon.
See also: How to Invest in Startups
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