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Meet The New Unicorns Minted In September 2022

Image to illustrate The Crunchbase Unicorn Board

Twelve companies joined The Crunchbase Unicorn Board in September 2022, adding $19.6 billion in value to the board. 

These companies have raised $3.8 billion total in funding with 62% of that amount raised in September 2022. 

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Six companies are U.S. headquartered. Two hail from India and one each from China, Thailand, Italy and Switzerland.  The majority of these companies were founded since 2018, while companies more than a decade old include Molbio Diagnostics and Wealthfront.

Here are the new unicorn companies:

Health care

  • India-based Molbio Diagnostics, a molecular diagnostics company that builds portable devices to detect TB, HIV and Malaria as well as real-time PCR tests amongst other diseases. The company raised $85 million led by Temasek Holdings which valued the company at $1.6 billion. 
  • New York-based Redesign Health invests in and incubates health care startups. It raised $65 million led by General Catalyst which valued the company at $1.7 billion. 
  • India-based online medicine ordering company 1mg raised a $40 million funding led by Tata Digital which had acquired a majority stake in the company in 2021. The company is valued at $1.2 billion. 



  • Bangkok-based on-demand delivery startup LINE MAN Wongnai raised a $265 million Series B that valued it at $1 billion. The funding was led by GIC and LINE Plus Corp.
  • E-commerce technology company Swiftly, based out of Seattle, helps retailers compete with e-commerce leaders. It raised a $100 million Series B extension funding led by BRV Capital Management valuing the company at $1 billion. Earlier this year in March it raised $100 million led by Wormhole Capital.

Financial services

  • Milan-based Satispay raised a Series D funding of over $310 million led by New York-based Addition valuing the company at $1 billion. The company counts 3 million users that can bypass credit cards for payments to merchants as well as offering peer-to-peer payments. 
  • San Francisco-based wealth management company Wealthfront mutually terminated a merger agreement with UBS and instead raised a convertible note of $69.7 million from UBS at a $1.4 billion valuation. 


Cloud services

  • Boston-based cloud storage company Wasabi Technologies raised a Series D funding of $125 million funding led by L2 Point which valued the company at $1.1 billion.  The company also raised the same amount in debt in order to invest in its infrastructure.

Three exits 

Three companies exited the board this past month. 

Figma was the single acquisition of a unicorn company in September 2022. Acquired by Adobe for $20 billion, it represents the largest amount paid for a private venture-backed company. 

Two life sciences companies from China exited the board via the public markets. MGI Tech builds genomic sequencing machines. It raised $516 million on its IPO on the Shanghai STAR Market. And biopharmaceutical company Biocytogen, which develops gene editing technologies for drug development, raised $60 million on its IPO. 

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Funding rounds included in this report are seed, angel, venture, corporate-venture and private-equity rounds in venture-backed companies. This reflects data in Crunchbase as of Oct. 15, 2022. 

The Crunchbase Unicorn Board is a curated list that includes private unicorn companies with post-money valuations of $1 billion or more and is based on Crunchbase data. New companies are added to the Unicorn Board as they reach the $1 billion valuation mark as part of a funding round. 

Funding to unicorn companies includes all private financings to companies that are tagged as unicorns, as well as those that have since graduated to The Exited Unicorn Board

Please note that all funding values are given in U.S. dollars unless otherwise noted. Crunchbase converts foreign currencies to U.S. dollars at the prevailing spot rate from the date funding rounds, acquisitions, IPOs and other financial events are reported. Even if those events were added to Crunchbase long after the event was announced, foreign currency transactions are converted at the historic spot price.

Illustration: Dom Guzman

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