The unicorn may be a mythical creature but in the startup ecosystem, it is becoming commonplace. In fact, data suggest the Indian startup ecosystem births a new unicorn every two weeks. For the uninitiated, a unicorn refers to a startup with a valuation of $1 billion and above.
Anand Prasanna, Managing Partner at growth-stage fund Iron Pillar, says:
“The unicorn tag is a milestone. As an investor, we look at it as more long-lasting, and while these startups may not last or even have a drop in valuation, the idea of a unicorn as a concept has lasted long (for maybe 16 centuries), and we believe, looking at the growth trajectory and other factors, this particular startup may be lasting.”
As per YourStory Research, India currently has 92 active unicorns.
Open, the latest addition to the list, takes the count to 100 when we consider Flipkart and Bigbasket, which were acquired by Walmart and Tata Group, Info Edge(India) and MakeMyTrip that got listed in the past, and Hike, Shopclues, Snapdeal, and Quikr that lost their unicorn tags due to an eventual drop in valuation.
The 15 unicorns of 2022 account for 34.09 percent of the 44 unicorns created in 2021. Clearly, 2022 is a bumper year for startups and especially, the growth-stage ones.
Read More at https://yourstory.com/2022/05/india-100-unicorns-billion-dollar-valuation-startup-ecosystem/amp