What are the titles like Minicorn, Soonicorn, Unicorn, Decacorn, Hectocorn mean? A Detailed documentation

 “The biggest adventure you can take is to live the life of your dreams

Every startup aspires to become successful one day and reach its zenith. Most Startups come from humble beginnings and only a few of them break all barriers and become the greatest, and become successful in changing the world in some way, by providing something fruitful to society. There are a lot of steps, a start-up needs to cross for the badges of honors like Minicorn, unicorn, unicorn,decacorn, and lastly hectocorn.

In this article, I will be discussing these aforementioned techie terms. Do you wish to know how these terms came into existence, well, practically all the other terms are derived from the term “unicorn”. A privately held enterprise is considered a unicorn when its valuation is at $1 billion.

The term unicorn was coined by venture capitalist Aileen Lee, founder of Cowboy ventures, in 2013 he went through 60,000 software and internet companies that got funding (2003 -2013) he found out that at that time only 39 companies were worth $1 billion. Thus the name “unicorn” because at that time such ventures were of rarity.

The start-up universe is now crowded with Unicorns. They were 39 when Aileen Lee coined the term Unicorn, the growth is immense and it never really stops.

Minicorn:

Every business that exists, there is a vision behind it, that’s driving it every day to its ultimate goal. Each and every business started from nothing but with only some dream, capital, and aspirations to get to somewhere.

Minicorns are startups with a valuation of $1million and over. They are companies that are pretty new in the game, but still have some valuation which further proves that the company has the potential of becoming a unicorn in the upcoming future.

Soonicorn:

Soonicorn aka “soon to be unicorn” are startups that have the potential to enter the unicorn club. Soonicorns are for the most part subsidized by Angel Investors or financial speculators, in view of future projections or an apparent valuation. It is consistently in overabundance of startup’s genuine worth. If a bigger company procures the newbie startup,thus giving them a valuation more than their real total worth. This is assisting new businesses with before long joining the One Billion Net worth Club or Unicorn Club.

According to the reports India has over 26 soonicorns waiting to get listed in the unicorn club, and in the forthcoming years, more minicorns will transform themselves to soonicorn then soon to unicorns. Soonicorns are spread across industries such as e-commerce, financial technology, healthcare technology, logistics, etc.

Startups that have the potential to fall under the unicorn belt in 2021 are :

1.Mobikwik is an Indian-made online wallet and phone payment platform and is also approved by the Reserve Bank of India. The company is valued at over $490 million at present.

2.PayMate is a cloud-based network to transform slow financial forms like checks and cash to digital payments in real-time for big businesses. has raised a total of $40.5 million in funding over 5 rounds.

3.BharatPE is a Fintech company, in this platform merchants can accept payments from customers without any hassle and also for free. They have raised a total of $290.3 million in 7 rounds of funding.

4.Capital Float it is a popular buy now pay later credit platform catering to the needs of self-employed or salaried individuals. The company has raised around $150.4 million in 11 funding rounds.

5.Acko is a General Insurance company offering different sorts of insurances like healthcare, vehicle, etc. The company pitches the lowest of premiums for its insurance plans. The company has raised $203 million over 5 financial rounds.

6.Khatabook, a fintech startup, it is a digital ledger platform that is created mainly for small businesses. The company has raised a total of $111.5M in funding over 4 rounds. Their latest funding was raised on may,2020 from a series B round. It is funded by 29 investors.

7.Fino Paytech, etc.

Unicorn:

As I have already discussed the term unicorn and how the term came into existence. A unicorn is any privately held startup that hits a billion dollars or more. This term was coined by Aileen Lee, the founder of Cowboy Ventures, back in 2013. It is expected that by 2023 India will be home to 100 unicorn biz. e-commerce, fintech, and enterprise tech are among the popular members of the unicorn club in India.

Many corporations like Facebook and Amazon, for example. These corporations are worth a lot.

However, as each Facebook and Amazon have gone public and sold-out shares on the stock market, they’re not typically referred to as unicorns any longer. This term only applies to corporations that stay privately owned.

Some startups that got the title of unicorn in 2021 :

Digit Insurance: It is a tech-driven financial service provider providing different sorts of insurances like vehicles, health care and etc. The company has raised $444.5 million in 6 financial rounds, currently, it’s valued at $1.9 billion.

CRED: CRED is a fintech startup, It is a credit card and bill payment gateway that rewards the users every time they pay their credit card bills. The startup has raised $471.2 million in six financial rounds, and at present, it is worth a whopping $2.2 billion.

Groww: This platform is tech-driven, and allows its users to invest in stocks, mutual funds, and IPOs, etc. The company has raised $142.3 million in six financial rounds, at present, it is valued at $1 billion.

Urban Company: It is a hyperlocal service provider, it is a marketplace for freelance labor, it bridges clients with the resource provider. The company has raised $445.9 million over 12 financial rounds. At present, it is worth over $2 billion.

PharmEasy: It is a health tech startup after its merge with Medlife it got into the unicorn club. PharmEasy is a platform that offers services like teleconsultation, medicine deliveries, and diagnostic test sample collection. It has raised $671.5 million in 9 funding rounds. At present, it is valued at $1.5 billion.

Decacorn:

A decacorn is a startup company that has a current valuation of over $10 billion. According to CBInsights, there are presently eighteen decacorns within the world, with ten being from the USA. Toutiao (Bytedance), a Chinese digital media/AI company is at the highest of the list with a present valuation of $75 billion.

Decacorns are the evolved versions of unicorns. What separates them isn’t simply the funding. It’s the distinctive business model, the revenue model, and also the rate. They’ve received such investments and have a post-money valuation of over $10 billion as a result of they’ve shown the globe a fantastic growth rate that the others couldn’t.

Hectacorn:

A tech company valued over 100 billion dollars is called Hectacorn. These startups are also known for the term “Super Unicorn”. Business conglomerates like Apple, Google, Microsoft, Facebook, Oracle, and Cisco fall under this category that is Heactacorn biz.

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