The year of Indian unicorns

Against a cumulative number of 33 unicorns, from 2011 to 2020, the current year has seen the emergence of 41 startup unicorns, and we have a full month to go for 2021 to end.

The year of Indian unicorns

Tuesday November 30, 2021,

3 min Read

Good Morning,

The Indian startup ecosystem is on a roll, registering 41 unicorns in the first 11 months of 2021 — which is over 124 percent more than the number of startups that achieved the coveted billion-dollar valuation status between 2011 and 2020.

The latest to join the elite club is fintech startup Slice, which saw a five-fold jump in its valuation after raising $220 million in its Series B round led by New York-based investment firms Tiger Global and Insight Partners.

Unicorns analysis

B2C unicorns, numbering 27, are nearly double the number of B2B unicorns, suggesting an evolution among the business models of newer unicorns.

The fintech sector saw the highest number of startups turning unicorns (9), followed by 4 enterprisetech, 3 edtech, and 2 cryptocurrency unicorns.

While Five Star Business Finance, which was incorporated in 1984, is the oldest startup to join the coveted club, Mensa Brands crossed the $1 billion valuation mark within six months.

The Interview

In this exclusive conversation with Shradha Sharma, Founder and CEO of YourStory, Bhavna Belani, Founder and CEO of BAGATELLA talks about how she and her team convert paddy wastes to purses, thus helping to reduce the pollution caused by burning it.

Editor’s Pick: Hyperface

Keen on becoming an entrepreneur, Aishwarya Jaishankar started consulting for neobanks and fintech companies and realised there was big potential for banking as service offerings that go beyond just bank integration.

In January this year, she launched Hyperface, which offers a ready-to-go card platform that manages the entire process of product design to programme management, compliance and risk management, allowing customers to create and launch a card experience. Read more.

aishwarya jainshankar

Startup Spotlight

Narrowing India’s sleep deficit

According to a 2019 study by US-based company Fitbit, India is the second most sleep-deprived nation after Japan.

Focused on ensuring people quality sleep, Punit Jindal launched Sleepsia in 2018 in India and the US. It is a D2C brand that offers varieties of premium-grade and highly innovative pillows at affordable prices. Read more.


Image Credits - YS Design team

News & Updates

Before you go, stay inspired with… 

Cello Group
“A company’s ability to quickly respond to market changes and serve customers with the best products at affordable prices provides it an edge in the market.”

Gaurav Rathod, Director, Cello Group

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