Tech unicorns generated US$106 billion
Over the last decade, 44 Indian tech unicorns have produced a value of US$ 106 billion, benefitting the founders, investors, employees, and the economy. Furthermore, according to the Indian Tech Unicorn Report 2020, these start-ups have created more than 1.4 million jobs per annum. Some of these start-ups are MakeMyTrip, Byjus, Ola, and Paytm.
Twelve start-ups including PineLabs, Postman, and Zerodha joined the unicorn club in 2020, the highest ever addition in a year. Paytm maintained its status of the most valuable unicorn in 2020, at a value of US$ 16 billion. Byju’s secured second place.
Rehan Yar, the managing partner at Orios Venture Partners, said, “The Indian startup ecosystem has generated tremendous value for founders, employees, investors, and the economy. Most of these are backed by technology and that is the key differentiating factor between unicorns of the 21st century versus the prior era.”
The start-up ecosystem of India has seen significant growth as a result of tech adoption and digitization. This year, a rush of initial public offerings (IPOs) is expected for Indian start-ups, assisted by a scale in various verticals and improving profitability.