Here Are The 10 Indian Startups That Entered The Unicorn Club In 2022
The year 2022 has continued right off the bat from the record-breaking 2021. Not even two months into 2022 and India has seen ten startups entering the unicorn club. With this, the total count of Indian tech startups that have ever entered the unicorn club to date stands at 96. These 96 Indian unicorns have raised a total of $78 Bn in funding to date and are valued at $299 Bn combined.
The breakdown of the data by Inc42 reveals that Indian startups raised $4.6 Bn in January 2022 alone, followed by $3.7 Bn in February. January 2022 recorded a YoY 5X increase in funding amount. While January saw the entry of four startups in the unicorn club, five in February.
2021 was a blockbuster year for unicorns. It saw over 42 startups and 2 listed companies touching the billion-dollar valuation. With Inc42’s soonicorn tracker putting 74 startups in the soonicorn club, India is poised to hit a century of unicorns in the next few weeks.
Indian Startups That Entered The Unicorn Club In 2022
AI and advanced analytics solutions startup, Fractal’s latest round of funding made it the first entrant into the unicorn club in 2022. The Private Equity round saw $360 Mn raised from TPG Capital Asia and secondary share purchase from funds advised by Apax Partners.
Fractal has raised a total of $685 Mn in funding over 5 rounds. The fresh investment comes almost two years after it had raised $200 Mn from Apax Partners in 2019. Fractal had also raised $100 Mn from Malaysian sovereign fund Khazanah in 2016.
It was founded in 2000 by a five-member team including IIM Ahmedabad alumni Srikanth Velamakanni and Pranay Agrawal, along with Nirmal Palaparthi, Pradeep Suryanarayan, and Ramakrishna Reddy. The 21-year-old startup provides artificial intelligence and advanced analytics solutions to Fortune 500 companies. Fractal Analytics is among a handful of companies that have taken over two decades to enter the unicorn club at a time when Indian startups are crossing the billion-dollar valuation in 6.6 years.
Read More at https://inc42.com/features/here-are-the-indian-startups-that-entered-the-unicorn-club-in-2022/