India has 100 unicorns. Now what?
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.
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.
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 and , which were acquired by Walmart and Tata Group, respectively; and 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, especially, the growth-stage ones. But, what next? Read more.
The Interview
In an insight-packed conversation, four leading technologists — Krishnan Parameswaran, CTO and Co-founder, ; Anil Bhat, Co-founder of ; Srivaths Varadharajan, COO, Spice Money; Prasanna Ranganathan, Founding member, Epifi; and Radhesh Shankaranarayanan, Director and GM - Medium Business India, Dell Technologies — discuss how businesses can future-proof themselves and unlock the true power of data by leveraging the cloud.
Editor’s Pick: The fearless girl gang of Kushinagar
Paying no heed to criticism, Pinky, Rinku, Nisha, and Puneeta are working to empower girls and women in Uttar Pradesh’s Kushinagar district. They have started school enrolment drives and self-help groups, and are creating awareness about rights and necessities. Read more.
Startup Spotlight
From a pet tracker to a full-fledged petcare startup
Petcare startups that are digitising and providing online services such as vet consults and shopping have made their presence felt. Bengaluru-based began by launching a GPS and fitness tracker, and now offers a bouquet of pet-related services. Read more.
News & Updates
- Bodhi Tree Systems announced a $600 million investment and strategic partnership with 34-year-old Kota, Rajasthan based education company ALLEN Career Institute. The announcement comes days after a similar release, indicating Bodhi Tree's $1.78 billion investment in Reliance Viacom18.
- ISMC will invest $3 billion to set up a chip manufacturing plant in Karnataka. ISMC is a joint venture between Abu Dhabi-based Next Orbit Ventures and Israel's Tower Semiconductor. Intel has announced plans to acquire the latter.
- Logistics startup had a board meeting over the weekend, where it discussed its plans for going public. The consensus at the end of the meeting was reportedly to launch the IPO at a smaller than previously declared number, and after LIC's IPO subscription period ends on May 9.
- The GST collection in April touched the highest-ever level of about Rs 1.68 lakh crore, up 20 percent from the year-ago period, on improved compliance and recovery in business activity, the Finance Ministry has said. During the month, 1.06 crore GST returns from GSTR-3B were filed, of which 97 lakh pertained to March 2022.
Before you go, stay inspired with…
Every young girl should take up sports to be more self-confident, healthy, and self-reliant.
— Rupa Bayor, Taekwondo champion
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