India Created Record 11 Unicorns In This Pandemic Year! Foreign Funding At 12-Year High
As per recent reports coming in, India has witnessed the creation of a record number of unicorns in the year 2020. This has happened despite the lockdown and the pandemic that made our lives upside down.
Additionally, foreign portfolio investors have invested the highest amount of money in 12 years.
Read on to find out all the details!
Highest Number Of Startups Turned Unicorns In 2020 Despite Pandemic
The number of unicorns created in India is now 11 in 2020, and the last two companies to turn into unicorns were Glance and Dailyhunt. For those unaware, unicorns are startups that are valued at $1 billion or more.
In 2019, nine ventures turned into unicorns and in 2018, the number of startups that turned into unicorns was 8.
Central Banks have globally been releasing large amounts of money to revive the economy impacted by the pandemic. This made sure that there were no major losses ensued due to the pandemic.
Dailyhunt, a news based platform, recently raised $100 million from Microsoft, Google, Falcon Edge’s investment unit Alpha Wave, and other investors, at a valuation of over $1 billion.
Foreign Policy Investors Have Invested $8.1 Billion; Highest FPI Inflow In 12 Years
Additionally, Foreign portfolio investors (FPIs) have poured in a record $8.1 billion last month. This is the highest in 12 years. As per a foreign brokerage firm, with $5 billion to date, December also looks to receives record inflows.
At $8.1 billion, India has been the country to receive the highest FPI inflows; Brazil received $6.2 billion, South Korea received $5.2 billion, Taiwan got $4.5 billion and Thailand at $1.1 billion.
This FPI inflow of $8.1 billion has been the highest in 12 years in November, whereas, there was more than $2 billion in redemption and domestic funds were net sellers in the same month. As per BofA Securities, these funds have been driven by active funds.