Within just 4 months of entering into 2022, India witnessed the rise of 14 unicorns and is riding in the wave of unicorns.
May 2 came as the icing on the cake as the country was blessed with its 100th unicorn – Neobank Open.
With this feat, India has 1 out of 10 unicorns globally.
What is a Unicorn?
Unicorns refers to those rarest of rare startups who attain a valuation of more than $1 billion. With a total valuation of $332.7 billion, the Indian Startup Ecosystem, the 3rd-largest in the world in number of unicorns is now home to 100 unicorns.
When it comes to the minimum and maximum time taken by a startup to become a unicorn in India are 6 months and 26 years, respectively.
In 2021, India got 44 unicorns with a total valuation of $93 billion.
With a total valuation of $18.9 billion in the first four months of 2022, India got 14 unicorns.
Each year until FY 2016-17, about 1 unicorn was added each year.
However, the numbers have grown exponentially in the last four years (since FY 2017-18).
Startup India
Since the launch of the initiative on January 16, 2016, more than 69,000 startups have been recognised in the country till May 2, 2022.
With a total of 56 diverse sectors, these startups are solving problems in 13 per cent from IT services, 9 per cent healthcare and life sciences, 7 per cent education, 5 per cent professional and commercial services, 5 per cent agriculture, and 5 per cent food & beverages.
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