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India added the second-most number of unicorns after the US this quarter: NASSCOM

India added 13 unicorns in the third quarter (July-Sep) of calendar year 2021, second only to the US that added close to 68 unicorns, a latest report by the National Association of Software and Services Companies (NASSCOM) and Praxis Global said. India has beaten developed economies like China, Hong Kong, the UK and Canada when it comes to quarter-on-quarter unicorn additions. As on September 2021, India had 66 unicorns, including upGrad, Droom, MPL, Blackbuck and others that were added in this quarter. "5 out of 13 Unicorns added in Q3 CY21 are from EdTech and Fintech sector," it said.

The report also added that a total of $6.1 billion was raised by Indian start-ups and large ticket deals helped EdTech and FoodTech companies account for more than 46 per cent of the total funding. These include companies like Unacademy that secured $440 million in late stage funding by investors like Temasek , Tiger Global, SoftBank, and others, and Swiggy which got $1300 million from SoftBank, Accel, Falcon Edge, etc. The study found that there was an increased focus towards late stage startups, accounting for more than 50 per cent of deal value.


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