The digital revolution in India has touched upon all aspects of business and entrepreneurship, so much so that technology has become an integral part of how human beings conduct themselves and related activities.
Insurance services in the subcontinent have, over this time, integrated their policies with technology to create unique digital products. It has paved the way for a new branch of startups called InsurTech companies.
The technological integration has helped improve various processes, like insurance agency onboarding and selling, to such an extent that these companies have been able to curate insurance policies based on the behavioral patterns of their clients.
They have grown to become a significant part of the larger fintech industry, where InsurTech companies constitute 8.18% of the $22 billion worth of capital in the fintech industry. This article examines some of the top Insurtech startups in India.
What is an Insurtech Company?
Insurtech is a mix of two words – Insurance and Technology. It means using technology like data analytics and machine learning in the insurance industry. This helps in underwriting, claims processing, and managing group insurance.
In India, insurtech companies provide digital platforms and mobile apps to buy policies and raise health insurance claims. Everything can be done online with no paperwork.
These companies are changing the old way of insurance by using new technologies to solve problems and meet customer needs.
Insurtech startups are making insurance:
Easy to access
Clear and transparent
Paperless
Customer-friendly
Fast and digital
This article looks at the top 10 insurtech companies in India in 2025 that are changing how insurance works.
The above graph shows the estimated market size of the InsurTech Industry in India in US billion dollars, with a great spike noticed in the market size from 2021 to 2025.
API-based integration, custom coverage for partners, scalable solutions
Digit Insurance
Startup Name
Digit Insurance
Founders
Kamesh Goyal, Sriram Shankar, Philip Varghese, Vijay Kumar
Founded In
2016
Headquarters
Bengaluru
Website
www.godigit.com
Insurance startups in India – Digit Insurance Website
This Bangalore-based startup provides various products like car insurance, travel insurance, house insurance, commercial vehicle insurance, shop insurance, trip insurance, fire insurance, and other small-ticket insurance. Till 2022, Digit Insurance has received more than $585.6 million through various funding rounds.
Some of the famous investors in the firm are TVS Capital Funds, Sequoia Capital India, and Wellington Management. They aim to simplify the entire process of insurance with the aim of helping even a 15-year-old kid comprehend the procedures involved. They stand out from other similar companies through their client-friendly policies.
For example, their insurance covers flight delays of 75 minutes and more, unlike the standard travel insurance that covers delays of 6 hours and more. Similarly, their “Pay as you Drive” (PAYD) facility will ensure that those who drive less will have to pay less.
Through their simple procedures and fewer T&Cs, and excellent customer service, they have earned the trust of their valuable clients, which has been fuelling their growth since the beginning.
They are the first digital general insurance in India. Launched in 2016, they have grown to cater to more than 50 million customers today. They have taken most of their operations online, reducing much of the offline paperwork.
Their journey has to be credited to their attention to detail and focus on quality over quantity. Their unique micro-insurance product called “Ola Trip Insurance,” which insured the passengers using the app, had been awarded the Golden Peacock Innovative Product. Amping up with data and tech, they further aspire to improve every aspect of insurance technology.
Top InsurTech Companies In India – PolicyBazaar Website
Catering to more than 9 million customers since its inception in 2008, they have been one of the most popular insurtech companies in the subcontinent. With an aim to reimagine insurance, Policybazaar has brought transparency into it by simplifying the entire procedure and putting an end to rampant misselling and policy breaches.
So far, they have sold more than 19 million policies by winning the trust of the people making it one of the best insurtech solutions provider in India. They aspire to bring in better coverage of health and financial policies in households in India. Reputed investing organizations like SoftBank, Temasek, Tencent Alpha Wave, PremjiInvest, etc, have invested in Policy Bazaar, vouching for its trust and quality.
Best InsurTech Companies In India – SecureNow Website
Founded by Abhishek Bondia and Kapil Mehta in 2011, they provide insurance solutions to small and medium-sized businesses. Through end-to-end InsurTech systems and a CRM software platform called PAM, they streamline various procedures, including right from issuing insurance and claiming.
They also have a mobile app for insurance services. They cater to more than 30,000 commercial establishments and settle over 1000 claims on a yearly basis.
Toffee Insurance
Startup Name
Toffee Insurance
Founders
Rohan Kumar, Nishant Jain
Founded In
2017
Headquarters
Gurgaon
Website
www.toffeeinsurance.com
Best InsurTech Company In India – Toffee Insurance
Realizing the importance of accessibility and availability of insurance, Toffee Insurance has ventured into the sector with the goal of curating insurance policies that suit the needs of its customers. They specifically focus on millennials by developing bite-sized insurance policies that cover the immediate lifestyle requirements of the fast-paced world.
They make use of the facilities offered by artificial intelligence and machine learning to make sense of behavioral and consumption data so as to provide better services to customers.
These insurance innovators further focus on transparency and fast services that will help realize their aim to create a novel world of insurance that thrives on innovative products woven to fit the client’s needs. With more than 99.1% of the claims approved, Toffee Insurance serves over 2 lack customers across more than 600 cities.
Coverfox
Startup Name
Coverfox
CEO
Sanjib Jha
Founded In
2013
Headquarters
Mumbai
Website
www.coverfox.com
Top InsurTech Companies In India – Coverfox Website
Launched in 2011, Coverfox is an InsurTech company that sells more than 360 products, including medical, automobile, bike, term, and travel insurance coverage across the subcontinent. Quickening the selling procedures, one of the major highlights of Coverfox is that they provide quotations to their customers instantly.
Further, their easy renewal, digitalized policy updates, and quick claims procedure further make the entire process hassle-free and attractive as far as the customers are concerned.
At a time when data privacy and security are greatly valued and are a matter of concern, Coverfox offers highly safe transactions and assures that the data is not sold to anybody, for that matter. They have won many accolades over the years for their commendable service over the Yeats including the best Insurtech startup award for the year 2022.
Top Insurance Startups in India – OneAssist Website
OneAssist is headquartered in Mumbai and is known to provide services related to the consumer-focused program. It has gained a good reputation in the last few years by providing coverage for data security and protection for electronics.
It has a partnership with many well-reputed firms like Amazon.com, Yes Bank, Axis Bank, etc. The primary goal of the firm is to provide a universal platform for customers to access and get their support and protection solutions from.
InsuranceDekho
Startup Name
InsuranceDekho
Founders
Ankit Agrawal · Amit Bhatia
Founded In
2016
Headquarters
Gurugram
Website
www.insurancedekho.com
Top InsurTech Companies In India – InsuranceDekho
InsuranceDekho is supported by CarDekho and is growing fast by combining both physical and digital ways to sell insurance. It is an online platform where people can compare and buy different insurance policies. They offer many types of insurance, like motor, health, and travel insurance. InsuranceDekho is popular because it is easy to use and makes buying insurance simple for customers.
Turtlemint Insurance
Startup Name
Turtlemint Insurance
Founders
Dhirendra Mahyavanshi · Anand Prabhudesai
Founded In
2015
Headquarters
Mumbai
Website
www.turtlemint.com
Top InsurTech Companies In India – Turtlemint
Turtlemint is a top insurance company in India that offers many types of insurance, like life, health, car, and bike insurance.
They also provide other financial services like loans and savings accounts. Turtlemint has a Financial Advisory Service to help you plan and reach your money goals.
The company is based in Mumbai and works in more than 20 cities in India. They offer different services to help people and families with their insurance and financial needs.
Symbo Insurance
Startup Name
Symbo Insurance
Founders
Anik Jain · Rahul Aggarwal · Abhishek Bondia
Founded In
2017
Headquarters
Mumbai
Website
www.symboinsurance.com
Top InsurTech Companies In India – Symbo Insurance
Symbo focuses on embedded insurance, which means they help retailers, direct-to-consumer brands, and online platforms offer insurance right when customers are buying something.
Symbo is a registered insurance broker and a tech company that works closely with retail and eCommerce businesses to add insurance options during the checkout process.
Their product easily fits into any brand’s sales flow, making it simple for brands to sell insurance to their customers.
Symbo has teamed up with many brands and insurance companies, and they have over 100 different product integrations.
Conclusion
The InsurTech industry in India is still at its nascent stage. With the digital community still coming to terms with the possibilities and issues with regard to technology and digitalization, it is likely that it might take some more time for the industry to boom.
However, there is no doubt about the fact that the future of the insurance industry in India is heavily anchored upon the foundations laid by technology. Despite being in its initial stages, the industry in India has thrived like no other. Companies aspire to be more client-friendly, custom-made, and paperless. How the industry has evolved over the years is indeed interesting, and it makes its future worth observing.
FAQs
How many InsurTech companies are there in India?
The total count of InsurTech companies in India is a highly debatable topic. As per the report published by Inc24, there are 300+ active InsurTech companies in India for the year 2022.
What is the difference between Insurtech and FinTech?
FinTech and InsurTech are the units of the same field. The major difference between them is that InsurTech mainly deals with insurance-related things and is on a smaller scale than FinTech which basically deals with financial-related concepts including topics like banks, financial planners, banks, etc.
How many unicorns are InsurTech?
According to the report published by Inc24, India has around 3 unicorns in the field of InsurTech named Acko, Digit Insurance, and PolicyBazaar.
How big is the InsurTech market?
The global InsurTech market was valued at USD 3.85 billion in 2021 and is estimated to reach USD 5.45 billion in 2022.
Virat Kohli, the iconic Indian cricketer and former captain of the Indian cricket team, has taken the brand endorsement world by storm. With exceptional talent and a magnetic personality, Kohli is the top choice for numerous renowned brands. Notably, he was the only cricketer on Forbes magazine’s list of the top 100 highest-paid athletes in 2020. His substantial earnings of approximately Rs 203 crore ($24 million) from brand endorsements set records in both the Bollywood and sports industries.
In this article, let’s explore Virat Kohli’s brand endorsements list and the influential role he plays as a trusted brand ambassador.
As a highly sought-after brand ambassador, Virat Kohli has forged partnerships with numerous top brands, solidifying his position as one of the most influential figures in the world of brand endorsements. Let’s take a closer look at some of the notable brands that have been fortunate to have Virat Kohli as their brand ambassador:
Myntra
Virat Kohli Brand Ambassador of Myntra | Virat Kohli Advertisement
Virat Kohli’s association with Myntra, the leading online fashion and lifestyle platform, has added to the brand’s star-studded list of ambassadors. In line with their “Be Extraordinary Every Day” campaign, Myntra recognizes Kohli’s extraordinary persona and his ability to inspire others to push boundaries. As a brand ambassador, Kohli epitomizes the spirit of exceptionalism and encourages individuals to embrace their uniqueness. With his infectious energy and passion, he embodies the essence of Myntra’s mission to empower individuals to express themselves through fashion, making him a perfect fit for the brand’s vision.
In 2019, Myntra announced that it had appointed celebrity couple Virat Kohli and Anushka Sharma as its first brand ambassadors.
Duroflex
Virat Kohli Brand Ambassador of Duroflex
Duroflex, a leading sleep solutions brand, partnered with cricketer Virat Kohli as its brand ambassador in May 2023 and launched the “Great Sleep, Great Health” campaign. This collaboration aims to emphasize the significance of quality sleep in maintaining overall well-being. As the face of Duroflex, Kohli will advocate for the importance of restful sleep and the role it plays in promoting a healthy lifestyle. Together, Duroflex and Kohli strive to inspire individuals to prioritize quality sleep for enhanced physical and mental health.
Puma
Virat Kohli Brand Ambassador of Puma
In a significant move back in February 2017, Puma, the renowned sports apparel brand, made an endorsement deal with Virat Kohli. The cricketer signed an eight-year, INR 110 crore contract with Puma, making it a major collaboration. He also launched the One8 brand with Puma in 2017. This partnership helped Puma grow in the market and showed their trust in Kohli’s talent and dedication. As a brand ambassador, Virat Kohli represented the spirit of sports, matching Puma’s focus on performance and style.
In April 2025, Kohli reportedly chose not to renew his contract with Puma, turning down an INR 300 crore offer. He decided to focus on building his own brand and expanding into entrepreneurship.
Audi India
Virat Kohli Brand Ambassador of Audi India
Audi, the prestigious automotive brand, partnered with Virat Kohli, the Indian cricket sensation, as its esteemed brand ambassador in 2015. Later in 2021, Audi extended its association with Virat Kohli as the brand ambassador. This collaboration signifies the seamless alignment between Kohli’s charismatic persona and Audi’s pursuit of luxury and performance. With his magnetic presence and relentless pursuit of excellence, Kohli epitomizes the values that Audi stands for, further strengthening their position in the Indian market.
HSBC
Virat Kohli Brand Ambassador of HSBC
HSBC, a leading global banking and financial services organization, appointed cricketer Virat Kohli as its brand ambassador in April 2023, aligning with the shared values of excellence, integrity, and determination. This collaboration emphasizes HSBC’s commitment to providing trusted and innovative banking solutions that resonate with the aspirations of individuals and businesses. Additionally, HSBC has launched the campaign ‘My Account Starts Today’, featuring Virat Kohli, which aims to highlight the bank’s ‘opening up a world of opportunity’ proposition.
Luxor, a well-known brand in the world of writing instruments, recently welcomed cricketer Virat Kohli as its brand ambassador in March 2023. With his remarkable talent and inspiring persona, Kohli perfectly embodies the essence of Luxor’s commitment to offering top-notch writing instruments that enable individuals to articulate their thoughts and ideas with utmost precision. This partnership not only strengthens Luxor’s brand image but also resonates with Kohli’s ability to motivate and inspire countless individuals.
Noise
Noise – Brand Ambassador Virat Kohli
Noise, one of the leading Indian tech brands, recently welcomed Virat Kohli as its brand ambassador in December 2022. Kohli’s association with Noise exemplifies the brand’s commitment to innovation and cutting-edge technology. With this collaboration, Noise aims to empower individuals to push their limits and unleash their full potential. Kohli’s dynamic persona and unmatched drive make him an ideal fit for Noise’s vision of delivering smart and stylish products to tech-savvy consumers.
“I always believe in working with brands that I resonate with. Excited to join the passionate team of Noisemakers as I partner with Noise”, said Virat Kohli.
Toothsi, the renowned dental care brand, has found the perfect duo to endorse its products: Virat Kohli and Anushka Sharma. This power couple’s association with Toothsi brings together their influence and charm to promote oral health and hygiene. With Kohli’s magnetic persona and Anushka’s graceful presence, Toothsi aims to educate and inspire individuals to take care of their smiles. As brand ambassadors, Virat and Anushka exemplify the importance of dental wellness and the confidence that comes with a healthy smile.
Blue Tribe
Virat Kohli Brand Ambassador of Blue Tribe
Virat Kohli and Anushka Sharma became ambassadors and investors for Blue Tribe in February 2022. The brand focuses on plant-based meat and promotes healthier, eco-friendly food choices. They seemed to be the perfect fit to encourage people to switch to healthier and eco-friendly alternatives without compromising on taste. With this collaboration, Virat and Anushka aim to inspire conscious eating habits and support the growing trend of sustainable living.
O’cean Beverages, a brand under Ball Corporation, partnered with Virat Kohli to promote its products. The company provides hydration and energy drinks, and with Kohli being a fitness icon, his endorsement has attracted strong attention from Indian consumers, boosting the brand’s growth
Hero MotoCorp
Virat Kohli Brand Ambassador of Hero MotoCorp
In 2018, Virat Kohli joined Hero MotoCorp as a brand ambassador. It is one of the world’s largest two-wheeler companies. Through this partnership, Virat promotes Hero MotoCorp’s focus on performance, style, and trust. Virat’s energetic image has helped the brand connect with India’s youth better.
Rage Coffee
Virat Kohli Brand Ambassador of Rage Coffee
Virat Kohli partnered with Rage Coffee in 2020 as an investor and brand ambassador. Rage Coffee offers premium, flavoured coffee blends. Kohli’s investment reflects his passion for quality and healthy living. The partnership aims to bring a unique coffee experience to younger people who care about taste and wellness.
Virat Kohli has been with Amaze India since it started in 2018. Amaze India is one of the best inverter battery brands. In 2021, the brand extended its endorsement deal with Kohli for three more years. In 2024, Amaze launched the “Hamesha #ReadyToPerform” campaign. This campaign shows the brand’s focus on providing reliable power. With Kohli as the face of the brand, Amaze highlights its promise of always being ready to deliver, just like Kohli’s consistent performance in cricket.
Star Sports
In 2023, Star Sports roped in Virat Kohli as the brand ambassador for their IPL ad campaign”Shor On, Game On”. As the official TV broadcaster for the TATA IPL, Star Sports released a promotional video featuring Kohli with the slogan “Har Ghar Banega Stadium” (Every Home Will Become a Stadium). This collaboration aims to ignite the excitement of cricket fans nationwide, highlighting the IPL’s ability to bring the stadium-like experience directly into people’s homes.
Blue Star
Virat Kohli – Brand Ambassador of Blue Star
Blue Star, an Indian multinational home appliance company, found a perfect match in Virat Kohli in 2019. Kohli’s association with Blue Star brings a breath of fresh air to the brand, symbolizing its commitment to excellence and innovation. As a brand ambassador, Kohli embodies the spirit of passion and relentless pursuit of excellence, aligning perfectly with Blue Star’s drive for innovation and customer satisfaction. With this partnership, Blue Star aimed to enhance its brand image and reach a wider audience.
Virat Kohli Brand Ambassador of Mobile Premier League
In March 2019, MPL (Mobile Premier League) entered into a successful endorsement partnership with Virat Kohli, appointing him as MPL’s brand ambassador. The deal was said to be worth around Rs 12 crore. The partnership turned out to be a success and was further renewed in January 2020, solidifying their shared vision. In April 2023, MPL launched a dynamic campaign, “Darr Ko Hatao, Bada Khel Jao,” featuring Virat Kohli, that exemplifies MPL’s unwavering commitment to providing a secure gaming environment. With Virat Kohli’s endorsement, MPL continues to inspire gaming enthusiasts nationwide, inviting them to join the MPL community.
MRF Tyre
Virat Kohli Brand Ambassador of MRF Tyre | Virat Kohli Brand Endorsements
In 2015, MRF Tyres, the prominent tyre manufacturing company, signed Virat Kohli as their brand ambassador for a three-year period. During this time, Kohli reportedly received a substantial sum of Rs 8 crore per year for his association with the brand. Recognizing his immense value and impact, MRF Tyres renewed the deal in 2017 with a staggering investment of Rs 100 crore for a period of eight years. As part of this renewed agreement, Kohli is said to earn a remarkable Rs 12.5 crore per annum. This long-standing partnership highlights the mutual trust and success shared between Kohli and MRF Tyres in promoting excellence and performance.
Phillips India
Virat Kohli – Brand Ambassador of Phillips India
Virat Kohli’s partnership with Philips as their brand ambassador for male grooming products has been a testament to their shared commitment to excellence. The collaboration between Kohli, a symbol of style and confidence, and Philips, a leading brand in grooming solutions, has been impactful. In 2022, Philips India launched the #TenOnTenYou campaign featuring Kohli, aiming to shed light on societal judgments and empower millennials to embrace their true selves. With Kohli’s endorsement, Philips continues to inspire men to look their best, embracing their personal grooming rituals with confidence.
Digit Insurance
Virat Kohli Brand Ambassador of Digit Insurance | Virat Kohli Brand Ambassador List
Digit Insurance, a leading insurance company, has appointed Indian cricketer Virat Kohli as its brand ambassador. Virat is also an investor in the company. The partnership between Digit Insurance and Kohli signifies not only his endorsement of the brand but also his confidence in its services and vision. As an investor, Kohli’s association with Digit Insurance goes beyond a typical brand ambassador role, showcasing his belief in the company’s growth potential. With Kohli’s influential presence and strong reputation, Digit Insurance aims to enhance its brand visibility and connect with a wider audience by offering reliable and customer-centric insurance solutions.
Virat Kohli Brand Ambassador of Wrogn | Virat Kohli Brand Ambassador List
Wrogn, the trendy fashion brand, has joined forces with none other than Virat Kohli, who not only serves as its brand ambassador but is also the co-creator of the brand. This exciting collaboration brings together Kohli’s passion for fashion and his unique sense of style. With his involvement in the apparel line, Wrogn showcases a perfect blend of edginess and sophistication. Kohli’s creative vision and personal touch infuse the brand with a distinct identity that resonates with youth.
Manyavar
Virat Kohli Brand Ambassador of Manyavar
In 2016, Manyavar, the renowned ethnic wear brand, appointed Virat Kohli as its brand ambassador. Virat’s association with Manyavar has exemplified elegance and style, capturing the essence of Indian traditions. He became the face of Manyavar, embodying the brand’s commitment to celebrating festivities with their exquisite collection of traditional attire. The brand released a notable campaign, ‘Aadha-Aadha’ featuring Virat, which beautifully highlighted the significance of sharing in a marriage, starting from the expenses of the wedding function. This campaign struck a chord with audiences, emphasizing the values of togetherness and mutual support.
Virat Kohli’s association with Great Learning, the leading edtech company, as their brand ambassador created a significant buzz. With this association, Great Learning aimed to leverage Kohli’s influential persona to inspire individuals to embark on a journey of continuous learning and upskilling. As a brand ambassador, he epitomizes the spirit of growth and excellence, reflecting the values and aspirations of Great Learning’s target audience. Virat’s strong work ethic and relentless pursuit of excellence make him an inspiring figure for those seeking personal and professional development.
In 2020, the company launched the “Power Ahead” campaign with Virat Kohli. The campaign focuses on showing the importance of higher education and lifelong learning.
Too Yumm
Virat Kohli – Brand Ambassador of Too Yumm
In a noteworthy partnership, Too Yumm! roped in Virat Kohli as their brand ambassador. The association aimed to promote healthier snacking options and a balanced lifestyle. With Kohli’s influential persona and dedication to fitness, he perfectly resonated with the brand’s values. As the face of Too Yumm!, Kohli encouraged consumers to make mindful snack choices without compromising on taste. This collaboration successfully inspired individuals to adopt healthier habits and enjoy guilt-free snacking experiences.
Himalaya, the well-known wellness and personal care brand, enlisted the charismatic cricketers Virat Kohli and Rishabh Pant as its brand ambassadors in 2019. This collaboration showcased the perfect synergy between the cricketers’ influential personas and Himalaya’s commitment to natural and effective products. Virat and Rishabh’s association with Himalaya amplified the brand’s message of holistic well-being and the benefits of using natural ingredients in personal care. Their endorsement brought immense credibility to Himalaya and resonated with consumers who admired the cricketers’ dedication to fitness and healthy lifestyles.
Volini, the trusted pain relief brand manufactured by Sun Pharma, founded a powerful ally in Virat Kohli as its brand ambassador. With its introduction to the market in 2015, Volini quickly gained recognition as a go-to solution for joint, musculoskeletal, and lower back pain. In 2018, the brand expanded its offerings with the introduction of Volini Maxx, catering to the evolving needs of consumers. Recognizing Kohli’s enduring influence and his commitment to fitness, Sun Pharma Consumer Healthcare signed a significant endorsement deal with him in 2018.
Boost, the popular Indian energy drink has found a perfect brand ambassador in cricket superstar Virat Kohli. Kohli, who is known for his dedication and physical prowess on the field, embodies Boost’s message of sustained energy and focus. Their long-standing partnership has not only helped Kohli fuel his athletic journey but has also boosted the brand’s immense popularity and relatable fitness goals. From commercials showcasing Kohli’s intense workout routines to social media campaigns fueled by his winning spirit, their synergy has propelled Boost to the forefront of India’s energy drink market, making them a dynamic duo not only on the field but also in the hearts of millions.
Vivo
Virat Kohli Brand Ambassador of Vivo
Vivo, a Chinese technology giant, is well-known for its innovative and stylish smartphones. In 2018, Vivo made Virat Kohli, an iconic Indian batsman, its brand ambassador. This move was a strategic one as Kohli’s immense popularity among the youth aligns perfectly with Vivo’s target audience. It has helped the brand to improve its image and sales in the Indian market. The partnership between Vivo and Kohli has blended cutting-edge technology with the passion for cricket, leaving an undeniable impact on India’s mobile landscape.
In 2015, Uber, the tech giant that transformed on-demand transportation, found an ideal brand ambassador in cricketing superstar Virat Kohli. Kohli’s reputation as an unstoppable go-getter aligned perfectly with Uber’s emphasis on speed and efficiency, making him an ideal fit for the Indian market. The partnership went beyond the world of cricket, with campaigns emphasizing the ease and dependability of Uber, often showcasing Kohli’s trademark determination behind the wheel. This powerful combination not only raised Uber’s brand recognition but also established it as the go-to app for transportation, leaving an indelible mark on the Indian mobility landscape.
MuveAcoustics
Virat Kohli Brand Ambassador of MuveAcoustics
In 2017, Zeeva, an electronics company based in Hong Kong, launched MuveAcoustics, a lifestyle audio brand that targeted urban India, and paired it with the popular cricketing superstar Virat Kohli. His youthful energy and dedication to performance perfectly matched MuveAcoustics’ sleek headphones and speakers, creating a powerful synergy. Kohli’s massive social media following amplified the brand’s message, while his own passion for music added authenticity, helping MuveAcoustics to become a leading player in the Indian audio market.
Wellman
Virat Kohli Brand Ambassador of Wellman
In 2019, the UK-based brand Wellman, which is known for promoting men’s health and vitality, collaborated with the Indian cricket superstar Virat Kohli. This partnership was ideal since Kohli’s relentless commitment to physical and mental fitness aligns perfectly with Wellman’s scientifically proven supplements. Together, they encourage men to live their lives to the fullest by empowering them with the perfect combination of power and balance. Kohli’s massive fan base and Wellman’s trusted reputation have redefined men’s wellness in India, showcasing that success is achievable through both strength and equilibrium.
American Tourister
Virat Kohli Brand Ambassador of American Tourister
American Tourister, a luggage brand known for its durability and association with adventure, found the ideal travel partner in Indian cricket captain Virat Kohli in 2016. Kohli’s energetic and determined personality perfectly aligned with the brand’s core values, making him an exceptional ambassador. Together, they have launched several successful campaigns, including the “#I’mReady” campaign, which showcased Kohli’s globetrotting lifestyle, and the recent “#UndeniableLeave” campaign, which encouraged taking a break from travel. With Kohli’s influence and American Tourister’s innovative luggage solutions, they have fueled the wanderlust of millions, cementing their position as the most dynamic duo in the travel industry.
Avas Living
Virat Kohli Brand Ambassador of Avas Living
Located in Alibaug, Avas Living is a luxury community that offers a new definition of wellness living. It is no wonder that cricketing superstar Virat Kohli has partnered with Avas Living in 2022 to become its brand ambassador. Kohli, known for his dedication to fitness and holistic well-being, chose Avas Living as his dream home retreat. This partnership combines Kohli’s passion for wellness with Avas’ focus on sustainable luxury, technology-driven living, and a strong community vibe. It is attracting health-conscious high net-worth individuals who are seeking a haven of serenity and a touch of cricket royalty.
Ocean Beverages
Virat Kohli Brand Ambassador of Ocean Beverages
Ocean Beverages, focused on crafting innovative and sustainable hydration solutions, found the perfect wave of energy in partnering with cricket superstar Virat Kohli. Kohli’s dedication to fitness and performance mirrors Ocean’s commitment to natural ingredients and eco-friendly practices. Their collaboration, particularly on the Sustainable Edition O’cean Energy Drink with its recycled aluminium cans, resonates with health-conscious consumers seeking both refreshment and responsibility. This dynamic duo is making ripples in the beverage industry, proving that conscious choices can be both powerful and delicious.
Essilor
Virat Kohli Brand Ambassador of Essilor
French eyewear company Essilor, known for its innovative lenses such as Crizal and Varilux, teamed up with Indian cricket superstar Virat Kohli in 2017. This collaboration was based on the shared values of precision, peak performance, and visual clarity. Through this partnership, Essilor’s brand gained more visibility among India’s cricket-loving population and helped raise awareness about the importance of eye health. Kohli himself became an advocate for this cause. The partnership between Essilor and Kohli brings together excellence in sports and optical expertise, empowering millions to see the world with clarity.
Batwrap, the Australian cricket gear innovator, has found the perfect partner in the batting powerhouse Virat Kohli. The partnership was inked in 2023 and is set to redefine cricket aesthetics and performance. Kohli is known for his aggressive batting and style, which perfectly embodies Batwrap’s mission to transform old bats and personalize new ones with cutting-edge, lightweight materials. The “Virat Kohli Electric Blue” collection, born from this union, allows cricketers to unleash their inner champion with a unique blend of power and panache.
Livspace
Virat Kohli Brand Ambassador of Livspace
Livspace, the leading home design company in India, has teamed up with cricket superstar Virat Kohli, creating a perfect match. Kohli’s vibrant personality and commitment to family align with Livspace’s mission of transforming homes into joyful havens. The “Livspace your space” campaign, featuring Virat and his wife Anushka Sharma, brings a fun twist to interior design, demonstrating how Livspace empowers homeowners to personalize their living spaces. This partnership seamlessly blends cricket’s energy with the comfort of home, making Livspace the perfect choice for anyone looking to #OwnTheirSpace.
Shyam Steel
Shyam Steel Anushka Sharma and Virat Kohli Advertisement
Virat Kohli and Anushka Sharma teamed up with Shyam Steel as brand ambassadors. Shyam Steel is one of the leading TMT bar producers in India. Their campaign, “Hamesha Ke Liye Strong,” highlighted the strength and durability of Shyam Steel’s products. The partnership aimed to promote quality in construction materials, reaching a larger audience with the star power of Virat and Anushka.
Royal Challenge
Royal Challenge – Virat Kohli Brand Ambassador List
Virat Kohli represents Royal Challenge as a brand ambassador. In 2024, the brand launched the “Choosebold 2.0” campaign, featuring Virat, Smriti Mandhana, and Vidyut Jammwal. This campaign celebrates individuals who make bold choices in life. With Virat leading the way, it encourages others to embrace boldness in their personal and professional lives.
Muthoot FinCorp
Virat Kohli Brand Ambassador of Muthoot FinCorp
In April 2022, Muthoot FinCorp launched a campaign “Mera Gold Loan, Mera Interest” campaign with Virat Kohli. He appeared in three TV commercials, promoting the brand’s financial services. The campaign aimed to build trust and showcase Muthoot FinCorp as a reliable choice for financial solutions.
Herbalife Nutrition
Herbalife Nutrition – Virat Kohli Brand Ambassador List
In 2021, Herbalife Nutrition renewed its partnership with Virat Kohli. The brand promotes wellness and a healthy lifestyle, which aligns with Kohli’s passion for fitness. With his endorsement, Kohli helps encourage people to live healthier, contributing to the brand’s growth.
Hyperice
Virat Kohli Brand Ambassador of Hyperice
In 2021, Virat Kohli became an athlete investor and global brand ambassador for Hyperice. The brand is known for its recovery products that help improve performance. With Kohli on board, Hyperice promotes better recovery for athletes and fitness lovers, just like Kohli takes care of his own fitness.
Vize
Virat Kohli Brand Ambassador of Vize
In 2020, Virat Kohli became the brand ambassador for Vize, a health and fitness brand. Vize offers high-quality supplements to help people stay fit and active. Through this collaboration, the brand aimed to inspire individuals to take charge of their health and make fitness a priority in their daily lives.
Conclusion
Virat Kohli’s influence as a brand ambassador is undeniable. His association with various renowned companies across industries showcases his versatility and appeal to a wide range of audiences. From sports brands to lifestyle products, Kohli has successfully collaborated with top-notch brands, reinforcing their brand values and reaching new heights of success.
As of 2024, according to Mint, Virat Kohli’s net worth is estimated to be Rs 1050 crore ($123 million).
Virat Kohli is brand ambassador of how many companies?
Virat Kohli is brand ambassador for several renowned brands, including Puma, Myntra, Blue Star, MPL, Digit Insurance, Toothsi, Blue Tribe, Hero MotoCorp, Royal Challenges, Amaze India, and many others.
Which startups are funded by Virat Kohli?
Startups funded by Virat Kohli are:
Rage Coffee
Blue Tribe
Sport Convo
Universal Sportsbiz
Digit Insurance
Chisel Fitness
Hyperice
How much does Puma pay Virat Kohli?
Virat Kohli signed an eight-year endorsement deal with Puma in February 2017, worth INR 110 crore. Under this agreement, he earned an annual payment of INR 12-14 crore. However, in April 2025, Kohli chose not to renew his contract with Puma after it ended. He reportedly rejected an INR 300 crore offer, deciding to focus on building his own brand instead.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations.
Life is risky and uncertain. We don’t know what is waiting for us. One may face an untimely death or lose a limb at a time. Accidents do not appear after knocking on your front door, we just meet with them unexpectedly.
Digit Insurance is a security provider for all the insecurities that may occur in one’s life. It has a range of insurance policies such as Bike Insurance, Commercial Vehicle Policy, Car Insurance Policy, Health and Travel Insurance Policies, and more, which are aimed at getting its users covered without any hassles. Read the Digit Insurance success story below, where you will get to know everything about Digit, its Startup Story, Founders and Team, Business Model, Revenue Model, Funding and investors, Challenges,and more.
Digit Insurance is a Bengaluru-based general insurance and financial services company. Its mission is to make insurance simple for the common people. Digit General Insurance has come up with numerous insurance plans that can be primarily categorized as:
Go Digit health insurance
Go Digit car insurance
Digit 2-wheeler insurance or GoDigit bike insurance for bikes
Go Digit commercial vehicle insurance
Go Digit travel insurance
Digit Insurance – Startup Story
Previously bread had to be sliced from loaves. It wasn’t simpler like today’s slices. People find insurance to be like those unsliced loaves. Customers also don’t understand which plan is appropriate for whom. The company believes that this thinking can be changed. With this Digit Insurance started making insurance simple with an aim to go back to the basics and simpler transparent insurance solutions. Simple meant no twisted rules. The company needed a simple name and hence it found the name digit to be perfect and appropriate for them.
Digit Insurance – Founder and Team
Kamesh Goyal
Kamesh Goyal is the Founder and the Chairman of the company, Digit Insurance. He previously worked at Allianz Insurance as the Head of Asset Management and Group Planning and Controlling. He was also the Regional Chief Executive Officer there. Goyal also served as the Chief Executive Officer, Chief Operating Officer, and Country Manager at Bajaj Allianz. The Digit owner began his career as a Manager at KPMG, India. He pursued B.A. LLB and also completed his Master’s in Business Administration from Delhi University.
Kamesh Goyal, Chairman & Founder, Digit Insurance
On the appointment of Jasleen as the new MD and CEO of Digit Insurance, taking over Vijay Kumar, Kamesh Goyal, the Chairman of Digit Insurance, said, “The bold ideas that Vijay brought to the table and the guidance he provided across the board will surely be missed by all our colleagues including me. Jasleen’s agile market strategies and her prudent operational planning have aided the company in expanding its presence at an accelerated pace despite the pandemic. Her people and result-oriented focus will surely put Digit on the path of rapid growth that we have all envisioned.”
Philip Varghese
Philip Varghese currently serves as the Executive Director of Digit Insurance. Philip started as the Manager of Projects at Allianz after his brief stint at Alpic Finance. He then served as the Senior Manager of Property Underwriting, CIO, and CIO & Head Direct at Bajaj Allianz General Insurance. Varghese then joined Bajaj Allianz Life, where he served as a CEO and COO before joining as the Board Member of Allianz Technology. Philip eventually joined Digit Insurance at a very early stage, when he teamed with the founder of Digit.
Philip Varghese, Executive Director of Digit Insurance
Vijay Kumar
Vijay Kumar served as the CEO and Principal Officer at Digit Insurance before the job role of MD and CEO was announced to go to Jasleen Kohli, who will be assuming the position effective from April 20, 2022. Starting as the Senior Executive Service & Quality at Kirloskar Pneumatic Company, Vijay Kumar has served in a range of companies in key leadership positions including Maruti Udyog Ltd, Hyundai Motor India Ltd., and Bajaj Allianz, before joining Digit. Vijay Kumar served as the CEO of the organization since Digit was founded in 2017, and his superannuation is dated April 19, 2022.
Vijay Kumar, Principal Officer of Digit Insurance
Vijay Kumar, on his retirement said, “I have had a fulfilling inning at Digit and I’m happy to see this baby grow into a giant player in such a short span of time. I am confident Jasleen will execute Digit’s ambitious growth plans with ease and take the company to greater heights in the coming years. As a passionate veteran of this industry, I will keenly keep an eye on Digit as it transforms the insurance space through its tech capabilities in the coming years.”
Jasleen Kohli
Jasleen Kohli has been appointed as the MD and CEO of Digit Insurance, effective from April 20, 2022. Kohli has previously worked as the Chief Distribution Officer (CDO), has been working with Digit since the inception of the company, better known as the first employee of the company. As part of her responsibilities as the CDO of Digit, Jasleen had to oversee all the sales and distribution channels of Digit. Kohli is brimming with experience too, with around 19 years of experience in the life and general insurance industry. Allianz Technology was the last company that Kohli worked with as a Director before she joined Digit. Jasleen Kohli is aged 42 now, and with her latest appointment, she will become one of the youngest CEOs in the insurance industry.
On her appointment announcement as the new MD and CEO of Digit, Jasleen Kohli said, “I am delighted about this new responsibility entrusted in me by the Digit team. While it will be hard to fill Vijay’s experienced shoes, I am excited about this challenge.”
Appointments followed with the announcement of Jasleen Kohli as the MD and CEO. The company also promoted Adarsh Agarwal from the role of Appointed Actuary to Chief Distribution Officer (corporate business). The former position of Adarsh Agarwal has been filed by Nikhil Kamdar, who became the new Appointed Actuary, as per the reports dated April 19, 2022.
Sriram Shankar was another Digit executive, who has been a part of the early leadership team of Digit. Since Shankar left Digit in August 2018, he has served Goodera as a Business head and eventually co-founded Findeed.
Digit Insurance currently works with over 1000 employees.
Digit Insurance – Logo
Digit Insurance Logo
Digit Insurance – Business Model
The Digit Insurance business model works just like the business models that the insurance companies opt for, the only difference is that Digit aims to introduce a range of new products and services to disrupt the Indian general insurance sector. It holds a general insurance license, which allows the company to sell health insurance products. Car and home insurance are common but Digital Insurance provides jewellery and mobile insurance as well. Furthermore, the company is redefining the insurance industry by working digitally. Its business strategy is to create beneficial partnerships with various companies.
Among various other insurance plans, Digit is one of the insurance companies that launched Go Digit Covid insurance. The coronavirus health insurance of the company is similar to a customized health insurance policy, which helps to cover the hospitalization and treatment costs of the COVID-19 infected persons who have previously registered with Digit.
Digit Insurance earns the majority of its revenues from its business line of products which includes its insurance plans and their premiums. The general insurance company extends a wide range of insurance plans for health, motor, and travel. Digit clocked in $400 million in annual premiums when last recorded in October 2021.
Digit Insurance – Funding and Investors
Digit Insurance funding has seen it rise to unicorn status in 2021. The company has raised around $585.6 million in funding over the 9 funding rounds that it saw. The latest funding round that Digit witnessed on January 18, 2022, came from Wellington Hadley Harbor and Ithan Creek Master Investors, where the company raised $70 mn.
The valuation of the company is estimated at $3 billion, as of May 2024.
Date
Transaction Name
Money Raised
Lead Investors
May 4, 2022
Venture Round
INR 41.7 crore
–
January 18, 2022
Venture Round
$70 million
Wellington Hadley Harbor and Ithan Creek Master Investors.
August 26, 2021
Venture Round
$16.09 million
TVS Capital Funds
July 2, 2021
Venture Round
$200 million
Sequoia Capital India, IIFL Alternate Asset Managers, Faering Capital and more
January 16, 2021
Venture Round
$18.77 million
A91 Partners, TVS Capital, Faering Capital
January 21, 2020
Venture Round
$84 million
A91 Partners, Faering Capital, TVS Capital Funds
June 5, 2019
Venture Round
$50 million
Fairfax Financial Holdings
July 3, 2018
Venture Round
$45 million
Fairfax Financial Holdings
June 1, 2017
Venture Round
$47 million
Fairfax Financial Holdings
Digit Insurance is funded by 4 lead investors. IIFL Asset Management and Faering Capital are the most recent investors of the firm.
Digit Insurance IPO
Go Digit IPO raised INR 2,614.65 crore, with a fresh issue of 4.14 crore shares (INR 1,125 crore) and an offer for sale of 5.48 crore shares (INR 1,489.65 crore). The IPO was open from May 15 to May 17, 2024, with allotment finalized on May 21 and listing on BSE and NSE on May 23. The price band was INR 272 per share. Retail investors could apply with a minimum lot of 55 shares for ₹14,190 (cutoff bid: INR 14,960). Minimum investments were INR 2,09,440 for sNII (770 shares) and INR 10,02,320 for bNII (3,685 shares).
Digit Insurance – Shareholding
Digit Insurance’s shareholding pattern as of April 2024, sourced from Tracxn:
Digit Insurance Shareholders
Percentage
TVS Capital Funds
3.5%
A91 Partners
3.3%
Faering Capital
4.4%
Wellington Management
1.5%
Sequoia Capital
1.0%
Ithan Creek Investors
0.4%
360 One
0.4%
LNM India Internet Ventures
0.1%
UBR Capital
< 0.1%
QED Innovation Labs
< 0.1%
Parent Entity
82.1%
Cornerstone Sport
< 0.1%
Rs Filmcraft
< 0.1%
Forward Commercial
< 0.1%
D’Artist Talent Ventures
–
Singhaniafuture
–
Dossa Chemicals
–
Sai Service
–
Maruti Stockfin
–
Angel
0.2%
Other People
0.2%
ESOP Pool
2.3%
Other Investors
0.6%
Total
100.0%
Digit Insurance Shareholding
Digit Insurance – Growth and Revenue
Joined the Unicorn Club with a $1.9B Valuation
Digit Insurance became the 1st Indian Startup in 2021 to join the Unicorn Club, following its latest undisclosed investment round.
Digit Insurance Valuation
It also launched a novel COVID-19 product, a Fixed benefit cover for COVID-19. They have been able to reach out to over 20 lakh Indian lives through their Digit Group Illness Insurance product.
Digit Insurance has already achieved a wide array of milestones. Here are some of the popular growth highlights of the company:
Digit achieved the coveted unicorn valuation in less than 4 years of operation
The company boasts of serving 2 crore+ customers
Digit saw a whopping 11X growth in the company’s group health business, which was last recorded at Rs 170 crore
Digit Insurance claims to have sold over 79,536 health policies and insured 42.5 lakh lives between March 2020 and September 2021
The company grew by 44% with a premium of Rs 3,243 crore
Digit is hailed as the first Indian company that achieve a unicorn valuation in 2021
Digit valuation has crossed the $4 billion mark as per the reports dated May 4, 2022
Digit Insurance – Financials
Digit Insurance has shown significant financial improvement in recent years, with notable growth in revenue and a shift from losses to profits.
Particulars
FY24
FY23
FY22
FY21
FY20
Revenue
INR 656.8 crore
INR 39.2 crore
INR -293.7 crore
INR -118.5 crore
INR -172.6 crore
Operating Profit/Loss
INR 484.2 crore
INR -66.3 crore
INR -375.2 crore
INR -185.5 crore
INR -226.9 crore
Profit/(Loss) Before Tax
INR 181.7 crore
INR 35.5 crore
INR -295.9 crore
INR -122.8 crore
INR -175.2 crore
Profit/(Loss) for the Year
INR 181.7 crore
INR 35.5 crore
INR -295.9 crore
INR -122.8 crore
INR -175.2 crore
Revenue rose sharply from INR 39.2 crore in FY23 to INR 656.8 crore in FY24. Profit after tax increased from INR 35.5 crore to INR 181.7 crore.
Digit Insurance Revenue:
Revenue Source
FY24
FY23
Fire Insurance
INR 54.2 crore
INR 22.1 crore
Marine Insurance
INR 6.8 crore
INR -6.8 crore
Miscellaneous Insurance
INR 423.2 crore
INR -81.5 crore
Income from Investments
INR 172.1 crore
INR 105.2 crore
Other Income
INR 0.5 crore
INR 0.2 crore
Total Revenue
INR 656.8 crore
INR 39.2 crore
Revenue from investments increased from INR 105.2 crore to INR 172.1 crore. Fire insurance income more than doubled from INR 22.1 crore to INR 54.2 crore.
Digit Insurance Expenses:
Expense Type
FY24
FY23
Other Expenses
INR 475.2 crore
INR 3.6 crore
Expenses (Non-Insurance)
INR 1.5 crore
INR 3.6 crore
Loss on Sale/Discard of Fixed Assets
–
INR 0.2 crore
Interest on Non-Convertible Debentures
INR 6.1 crore
–
Contribution to Policyholder Fund (ExceEOM)
INR 467.5 crore
–
Other expenses increased sharply from INR 3.6 crore in FY23 to INR 475.2 crore in FY24. Contribution to policyholder funds was a significant cost of INR 467.5 crore.
Digit Insurance Profit/Loss:
Profit/Loss Type
FY24
FY23
Gross Profit
INR 484.2 crore
INR -66.3 crore
Operating Profit/Loss
INR 484.2 crore
INR -66.3 crore
Net Profit/(Loss)
INR 181.7 crore
INR 35.5 crore
Digit Insurance achieved a net profit of INR 181.7 crore in FY24 compared to INR 35.5 crore in FY23.
Quick Summary:
Revenue Growth: Significant increase from INR 39.2 crore to INR 656.8 crore, driven by investments and insurance income.
Expense Surge: Other expenses rose from INR 3.6 crore to INR 475.2 crore, impacting profit margins.
Profit Improvement: Net profit increased fivefold from INR 35.5 crore to INR 181.7 crore, reflecting better operational performance.
Insurance Segments: Fire and miscellaneous insurance showed strong growth, while marine insurance returned to profitability.
Some of the prominent awards and achievements that Digit Insurance achieved throughout the years are:
Digit Insurance Recognized as ‘Top Employer in India’ for 2024 and 2025 for Fostering Culture of Growth and Innovation
Digit Insurance was announced as the General Insurance Company of the Year at the 24th Asia Insurance Industry Awards in 2020
It earned the Insurance Startup of the Year – India award, which was awarded by the Insurance Asia Awards 2020
Asia Insurance Review declared Digit as Asia’s Best General Insurance Company of the Year
Digit Insurance was one of the Hottest Start-ups in India in 2019
In the CMO Confluence & Corporate Awards 2019, Digit was conferred the title of the Best General Insurance Company
The company ranked 5th among the LinkedIn Top Start-ups of 2018
Digit Insurance – Competitors
The top competitors of the company are Acko, Coverfox, and PolicyBazaar.
Acko is the top competitor of Digit Insurance. It is a Mumbai-based company founded in 2016. It also works in the insurance industry.
Coverfox is one of the top competitors of Digit Insurance. It was founded in 2013 and is headquartered in Andheri East, Maharashtra, India. It also operates in the insurance sector.
PolicyBazaar is also a top rival of Digit Insurance. It was founded in 2008 and is headquartered in Gurgaon, Haryana, India. The company competes in the insurance sector.
Digit Insurance plans to capitalize on a favorable macroeconomic climate and accelerate digital transformation, with a strong focus on AI adoption. Key priorities include improving customer-facing services such as claims management and customer support to enhance user experience. While exploring the potential of AI and Generative AI, Digit will adopt a cautious approach, balancing innovation with risk management. The company also aims to strengthen its fraud detection capabilities to address the rising threat of insurance fraud.
FAQs
Who is Digit Insurance Founder?
Kamesh Goyal is the founder of Digit Insurance as well as its chairman.
What insurances does Digit Insurance provide?
Digit Insurance covers insurance policies such as Bike Insurance, Car Insurance Policy, Health and Travel Insurance Policies, Property Insurance, Shop Insurance, Fire Insurance, and many more.
What is Digit Insurance valuation?
Digit Insurance was last valued at $3 billion in May 2024.
What is Digit Insurance business model?
Digit Insurance operates as a digital-first general insurance company. It offers motor, health, travel, property, and commercial insurance products. Its model focuses on using technology for simplified processes, quick claim settlements, and a seamless customer experience. The company generates revenue through insurance premiums and investment income while managing risks through underwriting and reinsurance.
Who is the CEO of Digit Insurance?
Jasleen Kohli has been appointed as the new Digit Insurance CEO and MD on April 19, 2022, effective from April 20, 2022, and has taken over the position from Vijay Kumar.
Which famous cricketer has funded Digit?
The popular Indian cricket team skipper, Virat Kohli has funded Digit. Virat Kohli has invested Rs 2 crore in the insurance startup while his wife, Anushka Sharma has invested Rs 50 lakhs in the firm around the same time.
What is Jasleen Kohli relation with Virat Kohli?
There is no relation between Jasleen Kohli and Virat Kohli. Jasleen Kohli is the Managing Director and CEO of Digit Insurance, while Virat Kohli is an Indian cricketer. Their shared last name is coincidental.
The startup industry in India is growing faster than we could have imagined. They are now paving a new way for the future of India. Some popular startups that caught the eyes of everyone in the past few years are Zomato, BYJUs, Nykaa, and more. These are living proof of the evolution of startups in India.
These startups have been able to provide solutions to many of our problems. Along with this, they have been able to make huge progress for themselves as well. The startups in India are now generating a great amount of revenue and an increase in terms of their valuation.
The last two years have been full of ups and downs. The time has been mixed with old and new ideas. Many businesses could not cope well during the pandemic. On the other hand, many were able to reach their prime time. The Indian startup industry has grown in the past two years like never before. Startups like BYJU, Zomato, Nykaa, and more made India proud by entering the unicorn club.
Thanks to technology, continuous innovations, and passion for entrepreneurship, India is now the third-largest home for unicorn startups in the world with almost 100+ unicorn startups already established and many more are on the way to becoming unicorn startups.
Startups in India can secure a strong foot in India now due to new terms and policies installed by the government as well as the development faced by the Indian startup ecosystem. The startups in India have become the most potential eye-catchers for investors. With great funding at proper times, startups have been able to progress at a faster pace.
Here is the list of all Indian Unicorn Startup with their revenue, profit, and valuation:
Nykaa’s CEO and Founder Falguni Sanjay Nayar- StartupTalky
It is an Indian e-commerce platform launched in the year 2012 by Falguni Nayar. The company sells its products through three channels- website, app, and offline stores. It offers a wide variety of beauty, wellness, and fashion products.
Nayar made her company the first Indian unicorn startup led by a woman in 2020. The Firm Nykaa has revenue of INR 2,440 crores, in 2021. It has also announced revenue of INR 3,773 crores FY 2022.
This year in Q2 FY23, Nykaa’s net profit has reached 344% Y-o-Y to Rs. 5.2 crore. The company has also reported a 39% increase in its revenue which is Rs.1230 cr.
2. Swiggy
Revenue: INR 2,547 Crores in FY2021
Swiggy’s CEO Sriharsha Majety- StartupTalky
It is an online food ordering and delivery platform based in India. The Swiggy startup was started in the year 2014. The platform’s services are active in more than five hundred Indian cities like Delhi, Mumbai, Jaipur, etc.
The platform has taken a tech approach to handle logistics and provide solutions to customer demands. Swiggy generated revenue of Rs. 2,547 cr in FY21. This number was a 23% drop from their previous financial year 2020.
3. Zomato
Revenue: INR 4192.4 crore in FY2022
Zomato – A food delivery startup
It is an online food ordering and delivery company founded in the year 2008. From menus to reviews the platform provides you with all the information about its partnered restaurants and gets your delicious food delivered to your doorstep.
It was the first Indian startup to make its debut in the stock market. The Zomato Unicorn is considered one of the most successful startups in India with a revenue of INR 4192.4 crores, in Financial Year 2022. It has also announced its gross order value of INR 5,500 crores in Q3 FY 2022.
The above graph shows India’s Unicorn surge with its aggregate valuation.
4. BYJU’S
Revenue: INR 3,039.45 Crores in FY 2022
BYJU’S – The ed-tech startup
It is a global ed-tech startup founded in India in the year 2011. The platform is known to provide adaptive, engaging, and effective learning solutions to its students around the world. Online coaching has the school’s curriculum as well as training for exams like JEE, IAS, GRE, etc.
This education startup earned the status of the 13th largest unicorn in the world as per CB insights in December 2021. The startup BYJU’s had revenue of INR 3039.4 crores as of FY 2022.
5. Paytm
Revenue: INR 4,846 crores in FY 2022
Paytm – The Financial service providing startup
It is an Indian multinational technology startup that provides a digital ecosystem for consumers and merchants. Paytm was founded in the year 2010. The company offers payment services, commerce and cloud services, and financial services.
It enables users to make quick and safe UPI payments, book movie tickets, EMI payments, and more. This top Indian startup has a revenue of INR 3,187.6 crores for FY21. It has also generated revenue of INR 4846 crores in FY2022.
OYO – A full-stack technology providing a global platform startup
It is an Indian multinational online travel agency for homes and hotels. It was founded in the year 2012. The OYO platform offers hotel rooms at affordable rates all across South Asia. It also offers services like complimentary breakfast services, holiday packages, rewards, etc.
The platform has made travel experiences for people easy and reasonable. It has a revenue of INR 4,157 crores, in 2021.
7. Udaan
Revenue: INR 8450 Crores in FY 2022
Udaan – A trade processing startup
It is a network-centric B2B e-commerce platform founded in the year 2016 in India. The startup helps traders, manufacturers, and wholesalers to connect directly in one place. Udaan startup also facilitates secure payments and smooth logistics.
Udaan has been successful in solving the problems of trade for businesses across India. It has a revenue of INR 5,919 Crores in FY 21. However, in FY22 Udaan has shown Rs.8450 cr in revenue with a loss reaching Rs.3030 cr which is 22.1% more compared to the FY21 loss of Rs. 2482.
8. Digit Insurance
Revenue: INR 5,268 Crores in FY 2022
Digit Insurance – An insurance-providing startup
It is an operator of an insurance brokerage firm founded in the year 2016 in India. The Digit Insurance company offers insurance for commercial and non-commercial vehicles, property, and travel.
Digit Insurance is one of the leading insurance companies in the nation enabling clients to make informed decisions and get themselves insured. It has a revenue of INR 5268 crores in FY22.
9. PharmEasy
Revenue: INR 4363 Crores in FY21
Pharmeasy – The online drug/medicine delivery startup
PharmEasy is an Indian e-pharmacy startup, founded in the year 2015. PharmEasy sells medicine and healthcare products, along with that it also connects local clinics to medical stores for health equipment supply.
In order to expand business PharmEasy has started connecting doctors to patients online and jumped into Lab testing operations now. Though PharmEasy total revenue has increased 48% to Rs 6,461.1 crore in FY22 from Rs 4,363.2 crore in FY21.
But it’s a loss that has been widening. The company has now started to take steps to make it profitable in the coming years despite having fierce challenges from its competitors.
10. Dream11
Revenue: INR 2,554.4 Crores for FY2021
Dream11 – A fantasy sport startup
It is a fantasy sports platform based in India, founded in the year 2008. Dream11 startup enables users to play fantasy sports like cricket, kabaddi, hockey, basketball, and football.
This has been the first Indian gaming company to become a unicorn. The gaming startup has revenue of INR 2554.4 crores for the Financial Year 2021.
Conclusion
The startups in India have seen massive growth in the past decade. Many startups were able to attain the status of unicorn in recent times making India the third-largest hub for unicorn startups in the world.
India has always been famous for its successful talent in technology, medical fields, and more. Now, the nation is shining bright with its batch of growing startup industry.
FAQs
What is a Unicorn company in India?
A unicorn company stands for the term for any privately owned company having a value of more than $1 billion.
Which city has the most startups in India?
At present times, the city of Bengaluru claims the position of the Indian city having the most number of startups in India.
Is BYJUS profitable?
No, the ed-tech platform BYJUS is highly appreciated for the introduction of a new concept in the world of education. It is counted among the most profitable unicorn in India.
Are Indian unicorns profitable?
India contains more than 100 unicorns on its record. However, not every unicorn is counted as a profitable company. It is estimated that out of 100 only 18 unicorns are profitable.
Which is the biggest startup in India?
India is home to many valuable startups. Some of the biggest startups in India are Urban Company, Paytm, Classplus, Razorpay, etc.
Unacademy, Slice, RazorPay, ChefKart, Khatabook, and Digit Insurance are all companies that have two things in common. They are all a part of the Indian startup ecosystem and they are all a part of the Kunal Shah Investment Portfolio.
He is a man with many adjectives – an active angel investor, serial entrepreneur, mentor, and advisor. The Indian startup ecosystem recognizes Kunal Shah as the Founder & CEO of CRED, a fin-tech Indian unicorn. He fulfills the advisory role in multiple well-known organizations like Bennett Coleman & Co. Ltd., AngelList, Sequoia Capital, and the Indian division of Y Combinator. The enigmatic man has an investment portfolio that is more than 200 startups strong. In 2021, Hurun India said Kunal Shah held the most number of investments in startups that may become unicorns in the next few years.
A source close to Kunal Shah said – “Kunal really wants to do what he can for the ecosystem. If that one random founder can sell his company’s story to investors because Kunal Shah’s name is on his pitch deck, he does not mind that. This is his version of philanthropy.”
Most Successful Kunal Shah’s Investment
Over the years many startups that have been funded by Kunal Shah have seen phenomenal success. Of course, some have missed the mark but the successful one have been on a growth and expansion journey that is inspirational.
1. Unacademy
Unacademy
Unacademy is an ed-tech platform that was founded in 2015 by Gaurav Munjal, Hemesh Singh, and Roman Saini and is headquartered in Bangalore. It began unconventionally as a YouTube tutorial channel of short videos by Gaurav Munjal, then an engineering student n himself. By December 2015, Hemesh and Roman joined him to launch the Unacademy app which aimed at creating free interactive content.
It quickly gained popularity and by 2017 more than 5000 educators, 1 million learners, and more than 40,000 classes were launched. In January 2017, Unacademy raised USD 4.5 million in Series A funding and a year later it acquired the Jaipur-based online exam preparation and learning platform WIFIStudy for USD 10 million. Its growth continued as it launched its subscription-based model Unacademy Plus in 2019. In the same year, it also secured funding of approximately USD 87 million from investors. 2020 saw Unacademy achieve the coveted unicorn status and was named as one of the official sponsors of the Indian Premier League for 2020-2022. It also raised a Series G funding in November 2020 at a valuation of USD 2 billion. A year later, in 2021, it raised USD 440 million in a series of H funding. The beginning of this year saw Unacademy become one of the founding members of IAMAI’s India Edtech consortium.
2. RazorPay
Razorpay
Shashank Kumar and Harshil Mathur founded the fintech company Razorpay in 2015 which is headquartered in Bangalore. It was the fintech startup’s aim to provide frictionless transactions for online businesses with clean, developer-friendly APIs and hassle-free integration.
It earned unicorn status in 2020 amidst the Covid-19 pandemic through its October 2020 funding round and raising USD 100 million. In December 2021, it raised USD 375 million in Series F funding and became the most valued fintech startup in India at USD 7.5 billion as of December 2021. Razorpay’s total funding as of June 2022 is USD 815.7 million.
The growth trajectory of Razorpay has been consistent throughout the years. In 2017 it launched four products namely Route, Smart Collect, Subscriptions, and Invoices allowing businesses to manage multiple aspects of money movement. It also launched a subsidiary named Razorpay Capital, a lending platform supporting SMEs with easy and quick access to lenders. As technology is evolving, Razorpay is adding more and better features including introducing Razorpay X. Razorpay X is a unique solution allowing businesses to conduct every activity that is offered by banks.
3. Digit Insurance
Digit Insurance
Headquartered in Bangalore, Digit Insurance was founded by Kamlesh Goyal in 2017. As the name suggests, the company primarily deals in insurance products and financial services. Digit Insurance’s product portfolio includes health insurance, car insurance, commercial vehicle insurance, 2-wheeler insurance, and travel insurance.
The insurance firm has gone through eight funding rounds and raised a total funding of USD 530.8 million. It reached unicorn status in 2021. As of January 2022, Digit Insurance was valued at approximately USD 3.54 billion.
Since its inception, Digit Insurance’s growth has been consistent and it witnessed its highest growth in 2020 with 31.9% and earning a premium of USD 186 million between April 2020 and December 2020. This growth amidst the Covid-19 lockdowns and subsequent restrictions was owed to two of their products – Covid Health Insurance and Fire Insurance. In FY 2021-2022 Digit Insurance recorded its total gross recorded premium since inception at USD 52.68 billion. The insurance company is considering an IPO in a bid to raise USD 500 million to be listed by January 2023.
4. Khatabook
Khata Book
It is popularly known as Digital India’s Digital Khata. It was launched in 2018 in Bangalore by Ashish Sonone, Dhanesh Kumar, Vaibhav Kalpe, and Jaideep Poonia and has emerged as India’s fastest-growing SaaS company. Khatabook is a business management app, operating on an Android platform that enables MSMEs to keep a digital log of their financial transactions and digitize their accounting. The app also supports online payments and is available in 12 regional languages which cater to a diverse audience.
By the year 2020, Khatabook had a user base of merchants from 95% of Indian districts recording USD 100 billion in transactions and more than 150 million customers. The business has witnessed a phenomenal growth trajectory by registering more than 5 crore businesses spread over more than 4000 cities across India.
Khatabook has raised a total of USD 186.5 million in its four rounds of funding. As of August 2021, Khatabook was valued at approximately USD 600 million. Going forward, Khatabook intends to grow its business two or three times by remaining committed to the MSME segment and simplifying the traditional way of doing business. Its app is already widely accepted within the MSME framework of the country. Khatabook is now looking forward to offering disbursement of financial services through its tech platform.
Conclusion
Over the years, there are many startups that Kunal Shah has funded. The success stories that have emerged from these investments are proof of the ingenuity of the Indian entrepreneurial mind. These companies have grown and expanded and show every sign of marching forward into the future with their focus firmly on making their businesses better and more innovative. Some of the new startups that Kunal has invested in are AntWalk, BimaPlan, Bundle-O-Joy, Coffee and many more within the time this article was framed. The future looks promising and it will be interesting to see which of these startups make it to the next generation of unicorns.
FAQs
Is Kunal an angel Shah investor?
Kunal Shah has topped the list of angel investors with more than 200 investments done across startups such as Razorpay, Unacademy, Khatabook, Mensa, Digit Insurance, and more.
What is the qualification of Kunal Shah?
Kunal Shah graduated with a Bachelor of Arts degree in Philosophy from Wilson College, Mumbai, and briefly pursued an MBA from SVKM’s NMIMS before dropping out.
Purbalee Dutta
Sarika Anand
