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A Brief Analysis of India’s 66 Indian Unicorns

Well, its needless to say how Indian start-up ecosystem is growing and getting stronger with time. This year just confirms the same. Till 2020 we had 38 unicorns in the ecosystem and in just 9 month of 2021 we have added 28 unicorns. If we continue to add start-ups in this way, then we might end this year by doubling our unicorn numbers over that of 2020.

66 unicorns analysis

But this unicorns ecosystem system which is getting created has a lot to say about many changing trends. There statistics speak a lot about Indian start-up era and how it has grown so rapidly in last few years. Let’s put some light on the same:

  1. Revenue: Together 66 unicorns are generating over USD 15 billion revenue with ~42% unicorns generating over $100 million in revenue
  1. Year of Inception: 75% unicorns are incorporated in last 11 years (2010 and onwards) out of which more than 50% are incorporated in 3 years (2010 – 8, 2011 – 9 and 2015 – 10)  
  1. Employee: Unicorns in India have employee strength of over 3.3 lakh, 7 unicorns have employee count of over 10,000 each.
  1. Cumulative Funding: 66 unicorns together raised over USD 51 billion in cumulative funding over their lifetime, 18% of them have raised over USD 1 billion each.
  1. Round of Funding: Unicorns in India have gone through over 500 funding rounds till date.
  1. Vertical: Ecommerce, SaaS and Fintech account for more 60% of total unicorns followed by Edtech and Logistics. Even 60% of the total cumulative funding also went to these 3 sectors.
  1. B2B / B2C: B2B wins this race and accounts for 50% of unicorns while only 24% unicorns are purely B2B. 16% serves both B2B and B2C.    
  1. Location: More than 1/3rd of unicorns are headquartered in Bengaluru while more than 20% are headquartered in Delhi NCR.
  1. Time to Unicorns: ~90% of the start-ups turned unicorns in 10 or less number of years from their year of incorporation out of which 70% turned unicorns in less than 5 years.
  1. Decacorns: India has currently 3 decacorns (valuation over USD 10 billion), Byju’s, Paytm and Flipkart

The above analysis might sound some number crunching but the story behind speaks out load that Indian start-up ecosystem not only getting stronger, but it is also getting more stable and resilient towards global macro-economic factors. List of all 66 unicorns in India:

 

Zeta

Infra.Market

Pine Labs

Udaan

InMobi

Blackbuck

Moglix

Innovaccer

Lenskart

Oyo Rooms

BYJUs

CoinDCX

Urban Company

Digit

Citius Tech

PolicyBazaar

Upgrad

Droom

ChargeBee

Glance InMobi

Icertis

Swiggy

Zerodha

Mindtickle

Gupshup

Dailyhunt

Druva Software

Byjus Classes

Highradius

Mu Sigma

ShareChat

Zenoti

Rivigo

Shopclues

ReNew Power Ventures

Ofbusiness

Groww

Cars24

BigBasket

Zomato

Grofers

Snapdeal

Pharmeasy

RazorPay

Dream11

Quikr

Eruditus

Tekion

Cred

Unacademy

Delhivery

Paytm

Browser Stack

Zetwerk

Meesho

Postman

BillDesk

Ola

Eightfold.ai

Mobile Premier League

Five Star Business Finance

Nykaa

Freshworks

Flipkart

BharatPe

Apna

 

 

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