This year has been a tough one for many young companies.
But the problems faced by the founders, investors, and managers of companies such as Uber, Snap, and Blue Apron hasn't dissuaded other entrepreneurs from building new companies with the hope of disrupting existing industries or garnering a coveted billion-dollar unicorn valuation.
Among the rookies were these seven companies, all of which either raised their first round of funding or launched their first product in 2017. Each company stands out for a different reason. Some saw breakout success with consumers just months after they launched, while others proved to be such hot investments that they got massive early valuations.
From a consumer electronics startup that's taking on Apple to a online store that's aiming at Amazon, here are seven of the hottest startups to launch in 2017 — plus one bonus entry.
A new, low-cost rival for Amazon: Brandless
What it is: An online store that sells its own "brandless" goods — everything from salsa to toilet paper — for $3 an item.
Brandless, which launched in July, can sell its products cheaper than those carrying household names because it doesn't have to charge the kind of "brand tax" that comes with those products, company founders Ido Leffler and Tina Sharkey told Business Insider. As its name implies, the company sells its products online in simple packaging that's similar to that of the generic products found in grocery stores.
The company is counting on Millennials to make it a success. Leffler and Sharkey think they'll appreciate Brandless' ability to combine the convenience of online shopping with low, flat prices. Indeed, they think its one-price model should help it stand out from Amazon, Jet.com, and other big online retailers, many of which adjust prices their prices frequently.
Funding: $50 million from investors including Cowboy Ventures, Redpoint Ventures, and Google Ventures, according to Crunchbase.
The most successful roll-out: LimeBike
What it is: A bike-sharing network that places bicycles where commuters need them.
Following the lead of efforts including New York's Citi Bike and San Francisco's Ford GoBikes, LimeBike combines a convenient app with well-placed two-wheelers to handle what's known as the "first and last-mile problem"— getting commuters to and from public transportation hubs.
The company got its first round of funding in March and has now raised $62 million. Its $225 million valuation makes LimeBike one of the most valuable companies to launch in 2017.
Funding: $62 million total from investors including Andreessen Horowitz and IDG Capital, according to PitchBook.
A standout product in a saturated market: Obsidian Security
What it is: A cybersecurity company that focuses on a particular niche — hybrid clouds.
Increasingly popular among enterprise companies, hybrid cloud systems allow those companies' in-house servers to interoperate with public cloud systems, such as those offered by Amazon and Google. Obsidian uses artificial intelligence and machine learning to provide security across these complex, hybrid systems.
It takes a lot to stand out in the cybersecurity market, but Obsidian has an all-star cast that's warmed investors to its potential. CEO Glenn Chisholm worked at the antivirus software company Cylance as its chief technology officer. CTO Ben Johnson previously founded another cybersecurity company, Carbon Black.
Obsidian's most recent funding round valued the company at $27 million, according to PitchBook.
Funding: $9.5 million in a series A led by Greylock Partners, according to Pitchbook.
See the rest of the story at Business Insider