Few women on Indian unicorns’ boards; Uber expands same-day delivery

An analysis by PrivateCircle Research has shown that women occupy just 5.8% (76) of the 1,314 board seats across India’s 116 unicorns, highlighting a significant gender gap in leadership.

Mar 8, 2025 - 03:34

Few women on Indian unicorns’ boards; Uber expands same-day delivery

Hello,

Happy Women’s Day!

It isn’t easy being a woman business owner in India.

More than half of India’s women small business owners use their personal savings to fuel their businesses. An additional 25% turn to their families, including spouses, for financial support, according to a NeoINSIGHTS survey.

But resilience is the name of the game, and women entrepreneurs are not only managing their businesses independently but are also taking proactive steps to ensure financial stability, with 93% actively managing their finances.

While only 7.5% of all active startups in India have women co-founders, India ranked third globally in terms of funding raised by startups co-led by women, according to a report by Tracxn.

And things are turning around in the corporate world as well, with women making up 23% of employees. However, the industry faces the “leaky bucket” phenomenon where the proportion of women decreases while moving up the corporate hierarchy.

The need of the hour is to tackle challenges like limited opportunities, unequal pay, lack of mentorship, and unconscious biases that prevent women from spreading their wings.

ICYMI: How Russian women demanding “bread and peace” during a strike in 1917 led to the world observing International Women’s Day.

In today’s newsletter, we will talk about

Few women on Indian unicorns’ boards
Uber expands same-day delivery
Exploring Bhutan’s women-led homestays

Here’s your trivia for today: Which country was the first to allow women to vote in 1893?

Women entrepreneurs

Few women at the helm of India’s unicorns

An analysis by PrivateCircle Research has shown that women occupy just 5.8% (76) of the 1,314 board seats across India’s 116 unicorns, highlighting a significant gender gap in leadership.

In comparison, women hold 18.3% of board seats across India Inc, and the global average stands at 23.3%, according to Deloitte’s ‘Women in the Boardroom: A Global Perspective’ report. This stark contrast comes as a reminder of the need for greater gender diversity in India's startup ecosystem.

Key takeaways:

At the company level, 48% of unicorns, that is, 56 out of 116, have at least one woman director, while only 11% (13 unicorns) have more than one woman director, noted Private Circle Research.
Among the companies setting an example with boardroom diversity are MapmyIndia, Incred, MobiKwik, PolicyBazaar, and Zomato.
In 2024, five women-led startups—MobiKwik, Usha Financial, Tunwal, Interiors & More, and LawSikho—went public. However, acquisitions of women-led startups declined over 64% from 45 in 2021 to just 16 in 2024, reflecting changing market dynamics.

Top Funding Deals of the Week

Startup: Darwinbox

Amount: $140M

Round: Equity

Startup: Leap Finance

Amount: $100M

Round: Debt

Startup: InsuranceDekho

Amount: $70M

Round: Equity

Logistics

Uber expands same-day delivery

Ride-hailing company Uber is expanding its same-day delivery service, Courier, by rolling out a new feature called Courier XL. This is designed for larger packages that need to be delivered within the city.

Uber’s entry into the four-wheeler and three-wheeler logistics segment puts it in direct competition with Porter, one of the largest players in the industry.

New playground:

Porter has managed to capture a significant market share in the country and stay resilient through various market cycles. While many companies in the intra-city logistics segment have secured funding, few have made a significant impact.
On the other hand, several logistics startups have struggled to sustain operations due to challenges such as poor technology integration and an inability to effectively address the needs of both shippers and fleet owners.
In recent times, Uber has been making various efforts to stay competitive in India’s mobility market. Last month, it rolled out a subscription-based model for auto drivers across the country, following in the footsteps of its peers Rapido and Namma Yatri.

Travel

Exploring Bhutan’s women-led homestays

The remote Himalayan kingdom of Bhutan is known for tall mountains and deep valleys, scenic vistas and gorgeous landscapes, fortresses (dzongs) and monasteries, and its relentless focus on harmony and happiness.

One of the best ways to enjoy Bhutan’s history, culture, and scenic beauty is to check into a village homestay—a great value accommodation option that lets you feel the rhythm of traditional Bhutanese life. And, women are taking centre stage in this new travel experience.

A treat:

In the heart of Naktsang in Trashigang Dzongkhag, one of Bhutan’s 20 districts, Deki Pelden has been welcoming guests for more than eight years.
The homestay model has been successful as it offers a rich experience of the country’s culture, food, and people. The community-based tourism initiative also helps preserve and promote traditional arts and crafts such as weaving, woodcarving, sculpting, and painting.
Damcho Rinzin, Director of the Department of Tourism, feels the success of Bhutan’s women-run homestays reflects the strength and innovation of Bhutanese women.

News & updates

The race: Microsoft is developing in-house artificial intelligence reasoning models to compete with OpenAI and may sell them to developers, The Information reported. It has begun testing out models from xAI, Meta, and DeepSeek as potential OpenAI replacements in Copilot
AI chips: Broadcom’s shares soared 12% in premarket trading on Friday as the chipmaker's strong revenue forecast helped restore some confidence in AI chip demand after a bruising sector-wide selloff following rival Marvell Technology's bleak outlook.
Moon landing: The Athena robotic spacecraft touched down on the lunar surface on Thursday in the second moon landing for the US space company Intuitive Machines in little more than a year.

Which country was the first to allow women to vote in 1893?

Answer: New Zealand.

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