The National Association of Software and Service Companies (NASSCOM) confirmed that 30 new unicorns have been added to the Indian startup ecosystem in the first three quarters of 2021.
These new additions have taken the total number of unicorns in the nation to 68. At the end of the year 2020, there were only 38 unicorns, which highlights the possibility of doubling this number by the end of 2021.
Some other facts related to the Brief Analysis of 66 Indian unicorns are:
- The total revenue generated by 66 Indian unicorns has crossed the mark of US$15 billion
- Around 42% of these unicorns are generating a revenue of over $100 million
- 60% of these unicorns belong to the three verticals: FinTech, E-commerce, and SaaS
- The cumulative funding raised by these unicorns till date stands at ~ US$ 51 billion
- 18% of all unicorns have raised a funding of $1 billion individually
- 50% of unicorns serves the B2B space, while 24% caters to B2C space (16% works for these sectors)
- Bengaluru has the maximum number of unicorns (1/3rd of the total unicorns), followed by the Delhi-NCR region
- The cumulative employee strength in these unicorns is over 3.3 lakh, with seven unicorns having more than 10,000 employees each
- Indian unicorns have gone through more than 500 rounds of funding till date
- Currently, there are three decacorns in the country, namely Paytm, Flipkart, and Byju’s
- Around 90% of these startups achieved unicorn status in 10 or lesser number of years, out of which 70% of startups became unicorns in less than five years
List of 68 Unicorns in India
|Cred||Meesho||Five Star Business Finance||Nykaa|
|Innovaccer||Pine Labs||Lenskart||Citius Tech|
|Icertis||Druva Software||Rivigo||Big Basket|
|Browser Stack||Eruditus||Grofers||ReNew Power Ventures|
|Tekion||Zetwerk||Apna||Mobile Premier League|
Startup Terminology: What is a Unicorn?
Unicorn refers to a privately held startup that has a valuation of over $1 billion.Aileen Lee – Venture Capitalist and the founder of Cowboy ventures, first coined this term in the venture capital world through an article, saying that startups that cross the $1 billion mark are as rare as finding a unicorn.
While each unicorn has its unique story and features, they have certain commonalities that add more value to their business. Here’s what it takes to be a unicorn:
- Unmatchable innovation in their respective fields
- Pioneers in the creation of products/services that were not known before
- Technology at the core of their business models
- Obsessed to solve problems for a specific target audience
Unicorn companies are known to make their place in the targeted industry and attain recognition in the eyes of both consumers and investors.
Stay connected with Fintech Today for regular updates about the fintech industry, startups, and more.