Celebrities from the world of cricket and showbiz are often connected, be it the glamorous parties they attend or be it the famous cricketer-actor jodis, who leave us gushing over their sizzling chemistry. But there is one more thing that is common between the two. It’s their star power backing start-ups.
Several cricket legends, including Sachin Tendulkar and MS Dhoni, have invested in different start-ups as angel investors.
Not just them, stars from Bollywood, including Amitabh Bachchan and Akshay Kumar, have also invested in start-ups. Their star power has helped in converting these businesses into promising ventures.
- According to the data by Tracxn (as of December 21, 2023), Indian celebs have turned angel investors for more than 110 start-ups.
- The data also shows that B2C (business-to-consumer) e-commerce and Internet-first brands have been the top picks among celebrities.
- Additionally, start-ups based out of Mumbai and Bengaluru have been the most successful in attracting investments from the stars.
Some of these celebrity-funded businesses have gone on to become unicorns.
As many as six such start-ups have reached this status, as per data by Tracxn.
Here are six celebrity-backed start-ups that have become unicorns
Startup: Upstox
Investor: Shikhar Dhawan
- Upstox is an investment platform.
- The company is certified with the market regulator Securities and Exchange Board of India (SEBI).
- Cricketer Shikhar Dhawan invested in Upstox in 2022.
- The company achieved the unicorn status in November 2021 after it raised USD 25 million at a valuation of over USD 3 billion.
Startup: Spinny
Investor: Sachin Tendulkar
- Founded in 2015, Spinny is an online used-car retailing platform.
- In November 2021, the start-up entered the unicorn club after raising USD 283 million at USD 1.8 billion valuation.
- Legendary cricketer Sachin Tendulkar joined Spinny as a strategic investor and lead brand endorser in December 2021.
Startup: MyGlamm
Investor: Shraddha Kapoor
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- MyGlamm, founded in 2017, is an online makeup brand, headquartered in Mumbai, Maharashtra.
- After the company rebranded itself as The Good Glamm Group, it became India’s first beauty commerce start-up to achieve the unicorn title in November 2021.
- It raised USD 150 million at a valuation of USD 1.2 billion.
- In June 2021, actor Shraddha Kapoor invested in the beauty brand.
Startup: MPL
Investor: Virat Kohli
- Mobile Premier League (MPL) is an online gaming platform, founded in 2018.
- As per the company’s website, “The app hosts cash contests and tournaments across multiple games, allowing users to participate daily and earn money.”
- In 2019, cricketer Virat Kohli invested in a Bengaluru-based startup – Galactus Funware Technology Pvt Ltd.
- It was reported that he entered into a 10-year agreement with the start-up that owns MPL.
- After raising USD 150 million at a valuation of USD 2.3 billion in September 2021, MPL marked its entry into the unicorn club.
Startup: Digit Insurance
Investors: Anushka Sharma and Virat Kohli
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- This digital insurance company was started in 2016.
- It became the first unicorn of 2021 with USD 1.9 billion valuation.
- In 2020, Virat along with his wife, actor Anushka Sharma invested in this company.
- Reportedly, the cricketer invested Rs 2 crore and Anushka put in Rs 50 lakh, making a total investment of USD 3,40,000 (Rs 2.5 crore approx.).
Startup: Cars 24
Investor: Mahendra Singh Dhoni
- Cars24 was founded in 2015.
- It deals in the sale, purchase and financing of pre-owned cars.
- In 2019, the company had announced a strategic partnership with cricketer Mahendra Singh Dhoni.
- It was announced that Dhoni will own equity in Cars24 and will act as the company’s brand ambassador.
In November 2020, Cars24 raised USD 200 million at a valuation of more than USD 1 billion and achieved the unicorn status.
What is a unicorn company?
This term was first coined by venture capitalist Aileen Lee in 2013.
If a privately-held startup company has achieved the ‘unicorn’ title, it means that it is valued at over USD 1 billion.
Who is an angel investor?
Private investors, who finance small business ventures in exchange for equity, are called angel investors. These investors are individuals with a high net worth.
Unlike a venture capital firm that uses an investment fund, angel investors use their own net worth to back the venture.
In such cases, the investor’s involvement can be a one-time influx of money or an ongoing injection of cash.
Since angel investors get a part of the company in exchange for their money, they can get actively involved in the business as per their preference.
According to the data by Tracxn (as of December 21, 2023), Sachin Tendular has invested in nine start-ups, whereas Suniel Shetty and Virat Kolhi have invested in eight start-ups each.
While Shilpa Shetty has backed seven such companies, six start-ups each have received funding from Aishwarya Rai Bachchan, Amitabh Bachchan and Shraddha Kapoor. On the other hand, Anushka Sharma has invested in five start-ups.
However, leading the lot is actor and cricket presenter Gaurav Kapur, who has backed 19 start-ups.
