US$ 42 bn raised by Indian startups in ’21

India with 90 unicorns is the third-largest unicorn hub behind the US (487), China (301), and ahead of the UK (39). With about 6000 startups it has third largest startup ecosystem. India saw a tremendous growth in number of startups alone in 2021, 46 new Unicorns with US$ 1 billion worth was added, thereby more than doubling the total to number to 90. The major Unicorns added are ShareChat, Cred, Meesho, Nazara, Moglix, MPL, Grofers (now Blinkit), upGrad, Mamaearth, GlobalBees, Acko, Spinny and others.

According to the ‘The Indian Tech Unicorn Report 2021’ by by Orios Venture Partners, Indian startups have raised US$ 42 billion in FY21.This is a significant increase than previous year as in FY20 US$ 11.5 billion was raised. “These startups are not only developing innovative solutions and technologies but are generating large-scale employment. Today, one out of 13 unicorns globally was born in India,” report said.

Bengaluru has maximum number of unicorns. Fintech, e-commerce and SaaS have the majority, while health-tech, ed-tech, D2C, Gaming and Crypto are coming up. Flipkart is the most valuable with US$ 37.6 billion after raising US$ 3.6 billion in July. Mensa brand was the fastest to turn unicorn in only 6 months. India has 4 decacorns namely, Flipkart, Paytm, Byju’s and Oyo Rooms. They have a worth of greater than $10 billion. Zomato (US$ 14.8) billion followed by Nykaa (US$ 13.5 billion) and Freshworks (US$ 6.9 billion) has highest market capitalization.

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