In charts: India’s 50+ unicorn league
India is now an emerging unicorn hotspot with 16 startups entering the league this year.
June 25, 2021 / 06:13 PM IST
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The year 2021 has been a blockbuster for the startup industry in India with 16 members joining the unicorn club in just six months. BrowserStack, Zeta, Moglix and Urban Company are among the recent ones to join the league with giants like Byjus, Oyo Rooms, Zomato, Ola and others.
The club is expected to expand to 150 unicorns over the next three years with India’s wealthiest (High Net Individuals) likely to invest as much as $30 billion in technology startups by 2025, a recent report from Praxis Global Alliance and 256 network said.
There were 628 unicorns recorded around the world as of March 31, 2021 up from 463 reported in the previous year, a PwC report released in May this year revealed.
The US and China dominate the top 100 global unicorns in terms of number and value, followed by Europe. “India is the hotspot representing 50 percent of the total top 100 unicorns in the region by value and number,” the PwC report states.
On June 16, Moneycontrol reported that SoftBank was in advanced talks to invest a $100 million round in Pune and San Francisco-based Mindtickle, which will elevate the startup into India’s unicorn club.
The pandemic which has been devastating for many across the world has given an edge to internet and tech-based companies. Despite the lockdowns and mobility restrictions, these tech startups have delivered attracting investments from global giants.
More than half of all new entrants among the top 100 global unicorns were internet software and services or fintech companies, notes the PwC report. With another six months to go, it will be interesting to watch out how many more startups join India’s unicorn league.