$1 billion+ club round-up: Postman becomes India’s most valued SaaS unicorn, Emeritus raises $650 million, and more

An overview of what's happening in Indian's unicorn space.

Postman becomes India’s most valued SaaS unicorn

The company this week raised $225 million at a valuation of $5.6 billion – becoming the country’s highest-valued software-as-a-service (SaaS) platform. The capital infusion comes a little over a year after Postman entered the unicorn club with a valuation of $2 billion.

The Series D round of the application programme interface (API) development platform was led by venture capital firm Insight Partners.

Cars24 set to raise $350 million

The latest funding round would value the company at around $1.8 billion. Founded by Vikram Chopra, Mehul Agrawal, Ruchit Agarwal, and Gajendra Jangid in 2015, Cars24 entered the unicorn club in November 2020, when it raised $200 million.

Emeritus raises a $650-million funding round

The investment into the edtech company was led by Accel and SoftBank Vision Fund 2 and values the company at $3.2 billion – quadrupling its Series D valuation from last August.

The capital would help the startup create new products and industry verticals, expand its business serving governments and enterprises, double down on new geographies and fund acquisitions.

Byju's set to raise $1.5 billion

The fundraising is expected to close within a month’s time. The edtech company is India’s most valuable startup, and the new expected valuation of $21 billion is a 27% jump from the $16.5 billion valuation it had achieved after the June funding round.

Amanat Khullar oversees content and editorial at ADIF.

Join the Alliance of Digital India to become a part of our journey to transform India’s startup ecosystem into the best in the world.