New startups which touched the benchmark of becoming unicorns in 2020 are looking to boost their workforce, primarily on the fronts of products, technology, engineering, sales, business and data science activities in 2021. Of the eleven unicorn startups minted in the last year, six have confirmed their hiring plans for 2021.
Depending on the department and location, these jobs’ work packages are likely to range from Rs. 15 lakh to Rs. 60 lakh per year. Interestingly, the senior management work package will reportedly be in the vicinity of Rs. 1 crore and above.
Who Are These New Indian Unicorns?
The new startup unicorns – Pine Labs, Zenoti, Postman, Razorpay, Cars24 and Glance – are expanding their teams by 10-100%, or up to 2,000 to 2,500 employees, to drive market expansion and invest in product development.
According to Razorpay‘s vice president for human operations Anuradha Bharat, the fintech unicorn will have about 500 employees in coming months. Most of the recruitments will involve engineers and product groups to enhance new solutions. The company also aims to develop new payment and banking solutions for traders in SMEs.
Software-product company and unicorn Zenotti is looking to recruit more than 400 new hires. Most of the roles will be in India with expansions in the US, England, and Australia. The company currently employs 550 employees.
Fintech and digital payments unicorn PineLabs aims to hire 300 sales and technical employees in the January-March financial quarter. The company will strengthen its digital payment services in India, Malaysia and the United Arab Emirates, and boost its already set presence in Southeast Asia.
Postman, the software startup, is the latest to join India’s unicorn club and is trying to double its teams and appoint product, engineering, and design leaders. It has 464 employees currently.
Glance, the unicorn club’s newest addition, offers personalized content powered by artificial intelligence in many languages. The company reached a $1 billion valuation in December 2020 and is looking to increase its human capital by 30-40%. The company currently has 400 employees.
CARS24, the online car trading platform, is looking to increase its workforce in a range of 10% to 20%. The company currently employs more than 3,000 people and is searching for people to join its technology, product, information science, business, retail and sales teams.
With recovery from COVID-19, more and more unicorns will plan to expand business operations, subsequently hiring more people for their workforce.
Other Unicorns Which Might Hire
While other unicorns minted in 2020, including Zerodha, Nykaa, FirstCry, Unacademy and Daily Hunt, have not come out with notifications about increasing their workforce, they are expected to hire new people too.
Industry experts have projected that Daily Hunt certainly has a plan for growing the workforce, if not just a commitment, as it is one of 30 companies funded by the Google’s Digitization India Fund.
Nykaa, a trusted online lifestyle and beauty marketplace, plans to create a $3 billion IPO this year. Unacademy, the edtech platform, engaged in five acquisitions and developments in 2020. Moreover, edtech has become a lucrative emerging industry, attracting $4.9 billion last year in investments last year.
As the COVID-19 pandemic recedes, the economic recovery in India is bound to happen. With that recovery, more and more unicorns will plan to expand business operations, subsequently hiring more people for their workforce. Anyway, keep watching this space for more hiring information by India’s top companies.