Daily Management Review

28 New Unicorns Added In India So Far This Year Compared To A Total Of 38 Last Year


28 New Unicorns Added In India So Far This Year Compared To A Total Of 38 Last Year
According to Indian industry group Nasscom, 28 new Indian unicorns were added in the first nine months of 2021, bringing the total number of unicorns in the nation to 66.
At this rate, there is a possibility that the number of unicorns it had last year could be quadrupled this year.
There is an opportunity to more than quadruple the number of unicorns it had last year. By the end of 2020, India had 38 unicorns. There were 38 unicorns in India at the end of 2020.
A unicorn is identified as a startup company that has a market valuation of more than $1 billion.
Nasscom noted in a blog post that the total combined revenue of the 66 unicorns in India is more than $15 billion and they together employ more than 3.3 lakh people. The industry body noted that seven of these unicorns employ more than 10,000 employees each. Over the course of their existence, these firms have raised a combined investment of more than $51 billion, with 18per cent of them have raised more than $1billion each in multiple funding rounds.
According to the Nasscom report, 75per cent of unicorns were established within the last 11 years - since 2010, while moreover half of these were established in just three years  - eight in 2010, nine in 2011, and 10 in 2015.
Nasscom also noted that more than 60per cent of all the Indian unicorns are in the fields of e-commerce, SaaS (Software as a service), and fintech businesses, and these unicorns account for more than 60per cent of the total combined financing. The next two sectors that have the most unicorns are edutech and logistics.
More than 50per cent of the unicorns are business-to-business (B2B) companies in terms of clients served, while 24per cent of the unicorn startups is into the business-to-consumer (B2C) segment, said Nasscom.
According to the blog post's author, Ashish Gupta, 16per cent of unicorns service both B2B and B2C customers.
Bengaluru has the most unicorns, with one-third of the country's unicorns based there, followed by the Delhi-National Capital Region which has 20per cent of the unicorns.
"About 90 per cent of startups turned unicorns in 10 or less number of years from their year of incorporation out of which 70 per cent turned unicorns in less than 5 years," Nasscom said.
There are currently three so-called decacorns in India – which are companies that have a valuation of more than $10 billion - Byju's, Paytm, and Flipkart, Nasscom said.