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IIT Grabs The Fourth Place For Producing Unicorn Founders

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8 years ago

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IIT Grabs The Fourth Place For Producing Unicorn Founders

Indian Institute Of Technology (IIT) grabs the fourth position among the other top institutes in the world for producing the most number of unicorn founders or startups companies.

A U.K., based accounting software Sage confirmed this news. As many as 12 Startups from the total of 189 were from India’s IIT.

Stanford University clinches to the first place with 51 unicorn founders followed by Harvard University with 37 startups. University of California bags the third place with 18 startups which are then followed by IIT.

Among all the IIT’s, it is IIT Delhi with a maximum number of startups. Sachin and Binny Bansal of Flipkart, Rohit Bansal of Snapdeal, Deepinder Goyal and Pankaj Chadda of Zomato, Sanjay Sethi of Shopclues, Pranay Chulet of Quikr are all products of IIT Delhi.

On the other hand, it is Bhavesh Agarwal and Ankit Bhati, the founders of Ola who went to IIT Bombay.

Naveen Tiwari, Amit Gupta, and Abhay Singal, Inmobi’s founders are from IIT Kanpur, while their co-founder Mohit Saxena was from IIT Roorkee.

Director of IIT overwhelmed by this news, said: “IIT Delhi has a unique culture. The students here are more concerned and also get connected to the prevalent problems in our country.”

However, in terms of countries, India bags third position having the most number of unicorn founders. The USA stands first with 144 startups followed by China with 47 unicorn founders.

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Latest News

Blissclub Raises INR 33 Crore in Fresh Funding Months After Layoffs

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8 hours ago

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May 8, 2025

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Bliss_StartupStories

Blissclub, the women-centric D2C apparel brand, has raised INR 33 crore in a Pre-Series B funding round led by Elevation Capital, with Eight Roads Ventures also participating. This funding comes just three months after the company laid off 18% of its workforce-about 21 employees from creative, sales, marketing, growth, and product teams-due to high cash burn and challenges in securing new capital.

The latest investment was made through the allotment of 16,076 compulsory convertible preference shares (CCPS) at a premium of INR 20,428 each. Elevation Capital invested INR 19 crore, securing a 24.5% stake, while Eight Roads Ventures contributed INR 14 crore, raising its stake to 15.79%. The capital will be used for working capital, capital expenditure, and general corporate purposes.

Founded in 2020 by Minu Margeret, Blissclub started as an online activewear brand for women and has since diversified its product range and established offline stores. Despite recent restructuring, the company’s revenue grew 27% to INR 86.9 crore in FY24 from INR 68.3 crore in FY23, though net losses also increased to INR 43.9 crore.

Blissclub’s successful fundraising, despite recent layoffs, underscores both the ongoing challenges and the resilience of India’s D2C startup sector in a difficult funding environment.

 

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April 25, 2025

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Apple is set to relocate all assembly of iPhones destined for the US market from China to India by the end of 2026, marking its biggest manufacturing shift in decades. The move is driven by escalating US-China trade tensions and steep tariffs—up to 145% on Chinese imports—making Chinese assembly increasingly costly for Apple. Although some smartphone imports are temporarily exempt, a 20% duty still applies to Chinese-made iPhones entering the US.

 

India, in contrast, offers a more favorable trade environment, with a paused 26% reciprocal tariff and ongoing negotiations for a bilateral trade deal with the US that could shield Indian exports from future levies. Apple plans to more than double its current iPhone output in India, aiming to assemble over 60 million units annually for the US market. The company already produces about 25% of its global iPhones in India, working with partners like Foxconn, Tata Electronics, and Pegatron.

 

This shift is part of Apple’s broader strategy to diversify its supply chain and reduce reliance on China amid geopolitical risks. However, the transition’s success will depend on how quickly India can scale up its manufacturing capabilities and the outcome of ongoing trade negotiations.


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PhonePe’s PINCODE Launches 10-Minute Medicine Delivery in Cities

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PhonePe’s PINCODE app has launched a 24×7 online medicine delivery service in Bangalore, Mumbai, and Pune, promising delivery of both prescription and over-the-counter medicines within 10 minutes from nearby local medical shops. Unlike conventional e-pharmacies that use dark stores, PINCODE partners exclusively with neighborhood pharmacies, enabling faster deliveries and supporting local businesses in the digital economy.

Customers without prescriptions can select a “no prescription” option when ordering; a qualified doctor then provides a free teleconsultation and issues a digital prescription compliant with telemedicine guidelines, ensuring seamless access to medicines. The app offers competitive pricing by passing discounts from local pharmacies directly to customers and charges no delivery fees.

PINCODE’s hyperlocal model enhances healthcare accessibility and convenience while empowering local pharmacies, helping them remain integral to their communities and stimulating local economic growth. Launched in 2023, the app focuses on quick commerce with an emphasis on speed, reliability, and supporting local sellers.

In summary, PhonePe’s PINCODE app is transforming medicine delivery in major Indian cities by combining ultra-fast 10-minute delivery, free doctor consultations, and a hyperlocal sourcing model that benefits both consumers and neighborhood pharmacies.

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