The next level of growth for Indian startups

The year 2021 set new benchmarks for the Indian startup ecosystem — both in terms of record capital inflow and the creation of new unicorns. And these developments have catalysed the emergence of a new era for startups — scale up.

Wednesday January 26, 2022 , 4 min Read

The year 2021 set new benchmarks for the Indian startup ecosystem — both in terms of record capital inflow and the creation of new unicorns. And these developments have catalysed the emergence of a new era for startups — scale up.

A study done by NASSCOM, taking into account the growth trajectory of over 100 high growth startups to define scale-up, saw that there was considerable acceleration in the number of ventures with revenues of more than $15 million over the last 10 years. Besides, such startups grew more than 5x the industry average revenue growth.

The funding inflow into Indian startups in 2021 was estimated to be upwards of $30 billion — a complete turnaround from $9.94 billion in 2020 — the year of unimagined uncertainty due to the COVID-19 pandemic.

However, the biggest highlight last year was the creation of 44 unicorns, i.e., startups with a valuation of over $1 billion, and startup IPOs.

While these achievements have been building up for the last several years, it is now time for Indian startups to move into the next orbit, which is of achieving scale. Read more.

The Interview: Darwinbox

Hyderabad-based HRtech startup Darwinbox raised $72 million in a funding round led by Technology Crossover Ventures (TCV), along with participation from existing investors Salesforce Ventures, Sequoia India, Lightspeed India, Endiya Partners, 3One4Capital, JGDEV, and SCB 10X.

The company’s valuation post the Series D round has crossed the $1 billion mark, with the total investment raised thus far crossing $110 million.

In conversation with YourStory, the founders of the SaaS (software-as-a-service) startup Darwinbox spoke about their journey to becoming a unicorn.

Editor’s Pick: Meet the Army women at Amazon India

In 2019, Amazon India launched the Military Veterans Employment programme to offer opportunities to military veterans and their spouses. Through this programme, Amazon India has created hundreds of job opportunities for military veterans, enabling them to establish fulfilling alternate careers after serving in the armed forces.

This Republic Day, HerStory speaks to two women from the Army, who are now successfully forging new careers in Amazon India. They bring with them invaluable experiences and unique skills with a focus on serving people, be it at the border or Amazon India. Read more.

Startup Spotlight

This Cure.fit-backed startup claims to reverse diabetes

Diabetes — a chronic disease — is a silent killer. During the COVID-19’s delta wave last year, numerous doctors globally warned that the virus, especially, wrecks people who have comorbid diseases — diabetes being one of them. Research now shows that chronic metabolic diseases can be reversed and managed better.

Enter Bengaluru-based Sugar.fit, which claims that it can help people reverse their diabetes. An online and app-based platform, Sugar.fit combines deep technology, science, and human intervention to help people manage and even reverse their diabetes. Read more.

News & Updates

MakeMyTrip Founder Deep Kalra has stepped down from his role as the Group Executive Chairman, which he undertook on February 11, 2020. He will now act as the Group Chairman and Chief Mentor starting April 1, the company said in an exchange filing.

Mumbai-headquartered impact investing arm of Aavishkaar Group, Aavishkaar Capital, announced the launch of a $250 million ESG First Fund with German investment and development bank, KfW.

Walmart-backed ecommerce platform Flipkart has signed a memorandum of understanding (MoU) with the industry interface organisation for the Indian Institute of Technology, Delhi (IIT-D), Foundation for Innovation and Technology Transfer (FITT).

Surge, Sequoia Capital India’s rapid scale-up programme, launched its sixth cohort, where Sequoia Capital India and its co-investors invested in 20 early-stage startups, with funding totalling $60 million.