Third Unicorn raises $4 million in seed round

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According to a person familiar with the situation, BharatPe’s former CEO Ashneer Grover has secured approximately $4 million in seed capital for his company Third Unicorn Pvt. Ltd. The funding round, led by ZNL Growth Fund, included over a dozen angel investors, like Anmol Singh Jaggi, Anirudh Kedia, and Vishal Kedia, among others.

Grover revealed on the social media platform Twitter in 2022 that he is ready to re-enter the business sector and has ambitions to create another “unicorn” as he celebrates his 40th birthday. He wrote on Twitter, “Time to disrupt another sector. It’s time for the Third Unicorn.”

Later in July, Grover and his wife, Madhuri Jain Grover, established Third Unicorn Private Limited. The company has a total paid-up capital of 10 lakh rupees and a share capital authorized of 20 lakh rupees.

“We at Third Unicorn have quietly and peacefully built a business shaking the market. Bootstrapped. Without limelight. And we are doing things differently. Very differently,” he said in his LinkedIn post.

Grover also released a slideshow with a sneak peek of his new endeavor and explained how his new organization would begin with only 50 people. He also pledged to deliver Mercedes to staff who work with Third Unicorn for five years. “Gratuity to bezzati liye hoti hai,” he said, according to Live Mint.

He said that the company is solely interested in investors from India and that venture capitalists should stay away. “VCs-SheC’s, please stay away. We use only desi/self-earned capital,” Grover added.

Grover-led Third Unicorn is also releasing CrickPe,‘ a cricket fantasy game platform. Not much information is available in this regard. The website also looks unfinished for now. The other two unicorns Grover was affiliated with were BharatPe and Grofers.

Albinder Dhindsa, a classmate from IIT-Delhi, started Grofers, where he later worked as CFO. He eventually departed the firm in 2017, nevertheless dissatisfied that he had not received the ESOP promised. Grover then joined PC Jeweler Ltd, where he worked for over a year until joining BharatPe in June 2018.