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2021 has been a great year for India despite the critical spread of COVID in the country. They now have 42 new unicorns (companies valued at $1 billion+), surpassing the United Kingdom and are now sitting in 3rd place after the United States and China.
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Top Unicorns
The highest number of unicorns came from the fintech sector followed by enterprise tech, edtech, and cryptocrurrency. In fact, this year, the Indian fintech unicorns alone raised more than $10.6B in funds which is a portion of the $38.4B in total funds raised.
You might have already heard about some of these Indian unicorns before because they have built their name internationally including:
- Zomato - online food delivery and restaurant reviews
- Nykaa - e-commerce website for beauty and cosmetic products
- Flipkart - e-commerce company
These are the most valuable unicorns:
- Byju (edtech) at $21B valuation
- InMobi (adtech) at $12B valuation
- OYO Rooms (shared) at $9.5B valuation
India's Startups and Other Unicorns
India is also the home to more than 38,000 startups with 81 of them already added to the list of unicorns. The leading firms making investments are Tiger Global, Soft Bank and Alpha Wave Global and they show no signs of stopping in 2022.
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Sources:
By Janet Lee
Janet Lee is an MBA candidate at the UCLA Anderson School of Management on a full-tuition fellowship. She is currently working for TenOneTen Ventures, Visible Hands VC and Tech Coast Angels. Before business school, she started two businesses, a tech-forward real estate brokerage and international trade & logistics company. Her MBA focus is venture capital, for which she was recently awarded the Deutschman Venture Fellowship.
